Westwood Holdings Group Inc.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Westwood Holdings Group Inc. reported 426 stock positions worth $12.1 billion. Its top holding was Vanguard Ftse Developed ETF (VEA) at 2.4% of the portfolio, followed by Williams Cos (WMB, 2.1%) and Kinder Morgan (KMI, 1.9%). Compared with Q3 2025, it opened 36 new positions, sold out of 44, added to 127 and reduced 221. The biggest buy was Vanguard Ftse Developed ETF (VEA, shares +10%) and the biggest sale Energy Transfer (ET, shares −98%).

Most Recent 13F
Q2 2026
Location
DALLAS, TX
CIK
0001165002
Portfolio Value
$12.1B (Q4 2025)
SEC Filing
0001165002-26-000006 ↗ filed Feb 17, 2026

Holdings Value

0$5.0B$10.0B$15.0B Q1 2024: $12.6B Q1 2024 Q2 2024: $12.1B Q2 2024 Q3 2024: $12.9B Q3 2024 Q4 2024: $12.8B Q4 2024 Q1 2025: $13.1B Q1 2025 Q2 2025: $13.7B Q2 2025 Q3 2025: $13.8B Q3 2025 Q4 2025: $12.1B $12.1B Q4 2025 Q1 2026: $13.7B Q1 2026 Q2 2026: $13.2B Q2 2026

Holdings 426 stocks · $12.1B
VEA Vanguard Ftse Developed ETF 2.45% 4,754,095 $297.0M Add +9.9%
WMB Williams Cos Inc. 2.11% 4,256,309 $255.8M Add +2.7%
KMI Kinder Morgan Inc. 1.89% 8,350,611 $229.6M Reduce -0.6%
LNG Cheniere Energy Inc. 1.25% 778,102 $151.3M Reduce -3.4%
TRGP Targa Resources Corp. 1.24% 813,777 $150.1M Reduce -2.0%
MSFT Microsoft Corp. 1.23% 309,221 $149.5M Reduce -9.4%
AAPL Apple Inc. 1.15% 514,420 $139.9M Reduce -13.8%
AMZN Amazon.com Inc. 1.12% 588,130 $135.8M Reduce -18.9%
DTM DT Midstream Inc. 1.11% 1,127,338 $134.9M Add +1.6%
OKE Oneok Inc. 1.07% 1,770,938 $130.2M Add +0.8%
ENB Enbridge Inc. 1.07% 2,704,357 $129.3M Add +10.4%
GOOGL Alphabet Inc. Class A 1.01% 390,165 $122.1M Reduce -39.7%
JPM JPMorgan Chase & Co. 0.97% 367,024 $118.3M Reduce -12.9%
TRP TC Energy Corp. 0.96% 2,124,838 $116.9M Add +2.1%
VRRM Verra Mobility Corp. 0.88% 4,761,255 $106.7M Add +4.5%
JNJ Johnson & Johnson 0.87% 511,744 $105.9M Reduce -21.2%
SXT Sensient Technologies Corp. 0.86% 1,107,789 $104.1M Add +10.4%
AVA Avista Corp. 0.83% 2,616,743 $100.8M Reduce -6.8%
CDP Copt Defense Properties 0.83% 3,609,137 $100.3M Add +1.0%
SSB Southstate Bank Corp. 0.82% 1,050,659 $98.9M Reduce -17.9%
CFR Cullen/Frost Bankers Inc. 0.81% 778,429 $98.6M Reduce -21.9%
PIPR Piper Sandler Cos 0.76% 272,055 $92.4M Reduce -3.5%
ASO Academy Sports & Outdoors Inc. 0.74% 1,793,592 $89.6M Reduce -6.4%
BLBD Blue Bird Corp. 0.73% 1,895,038 $89.1M Add +14.2%
PKG Packaging Corp. of America 0.73% 430,025 $88.7M Reduce -11.5%
MOG.A Moog Inc. Class A 0.72% 356,657 $86.9M Reduce -21.2%
IPAR Interparfums Inc. 0.71% 1,012,336 $85.9M Add +3.7%
BL Blackline Inc. 0.69% 1,519,799 $84.0M Add +9.7%
META Meta Platforms Inc. Class A 0.69% 126,720 $83.6M Reduce -14.8%
HUBB Hubbell Inc. 0.69% 187,340 $83.2M Reduce -22.5%
ABT Abbott Laboratories 0.67% 645,404 $80.9M Reduce -26.8%
WEC WEC Energy Group Inc. 0.67% 765,711 $80.8M Reduce -14.1%
HD Home Depot Inc. 0.66% 234,191 $80.6M Reduce -12.0%
XOM Exxon Mobil Corp. 0.64% 644,116 $77.5M Reduce -15.8%
CAKE The Cheesecake Factory Inc. 0.62% 1,500,052 $75.7M Add +6.3%
CCS Century Communities Inc. 0.62% 1,271,128 $75.4M Add +6.0%
WFC Wells Fargo & Co. 0.62% 804,227 $75.0M Reduce -23.3%
TXN Texas Instruments Inc. 0.62% 430,573 $74.7M Reduce -13.0%
EXP Eagle Materials Inc. 0.61% 357,255 $73.8M Reduce -10.9%
UE Urban Edge Properties 0.60% 3,813,881 $73.2M Add +3.7%
CVX Chevron Corp. 0.60% 479,282 $73.0M Reduce -15.4%
MMSI Merit Medical Systems Inc. 0.60% 826,214 $72.8M Reduce -5.9%
PBH Prestige Consumer Healthcare 0.60% 1,179,636 $72.8M Add +3.3%
YETI Yeti Holdings Inc. filed as YETI HLDGS INC 0.59% 1,631,549 $72.1M Reduce -26.1%
NEE Nextera Energy Inc. 0.59% 895,784 $71.9M Reduce -7.8%
ATMU Atmus Filtration Technologie 0.59% 1,381,485 $71.7M Reduce -15.7%
AUB Atlantic Union Bankshares Co. 0.59% 2,029,191 $71.6M Reduce -3.7%
BANR Banner Corporation 0.59% 1,135,362 $71.1M Reduce -1.6%
FCPT Four Corners Property Trust 0.59% 3,083,383 $71.1M Add +4.1%
SBCF Seacoast Banking Corp. 0.59% 2,261,719 $71.1M Reduce -7.6%
NOG Northern Oil and Gas Inc. 0.59% 3,309,394 $71.1M Add +23.2%
HAYW Hayward Holdings Inc. 0.58% 4,591,534 $70.9M Reduce -8.6%
CHCO City Holding Co. filed as CITY HLDG CO 0.58% 592,871 $70.7M Add +0.9%
FBNC First Bancorp 0.58% 1,387,756 $70.5M Add +0.0%
RNST Renasant Corp. 0.58% 1,994,155 $70.2M Add +2.9%
ECG Everus Construction Group 0.58% 818,930 $70.1M Reduce -10.2%
SXI Standex International Corp. 0.58% 322,402 $70.1M Add +67.4%
VECO Veeco Instruments Inc. 0.57% 2,437,649 $69.7M Reduce -3.4%
FBK FB Financial Corp. filed as FB FINL CORP 0.57% 1,244,682 $69.5M Add +275.8%
SFNC Simmons First Natl Corp. Class A 0.57% 3,679,874 $69.4M Add +3.6%
PLD Prologis Inc. 0.57% 542,719 $69.3M Reduce -12.2%
GD General Dynamics Corp. 0.57% 205,288 $69.1M Reduce -40.3%
BWIN Baldwin Insurance Group Inc./ filed as THE BALDWIN INSURANCE GRP IN 0.56% 2,851,518 $68.5M Add +14.6%
DE Deere & Co. 0.55% 142,568 $66.4M Reduce -18.4%
GOOG Alphabet Inc. Class C 0.55% 210,805 $66.2M Reduce -11.8%
TMUS T-Mobile US Inc. 0.53% 315,022 $64.0M Reduce -15.4%
MRK Merck & Co. Inc. 0.52% 599,995 $63.2M Add +1953.4%
CSX CSX Corp. 0.51% 1,717,376 $62.3M Reduce -21.2%
WMS Advanced Drainage Systems Inc. 0.51% 429,342 $62.2M Reduce -16.7%
PGR Progressive Corp. 0.51% 272,491 $62.1M Reduce -18.1%
HESM Hess Midstream LP Class A 0.51% 1,789,190 $61.7M Reduce -14.7%
BRK.B Berkshire Hathaway Inc. Class B 0.50% 119,700 $60.2M Reduce -17.9%
NVDA Nvidia Corp. 0.49% 321,770 $60.0M Reduce -5.5%
SPY SS SPDR S&P 500 ETF Trust-US 0.49% 87,567 $59.7M Add +0.4%
PBA Pembina Pipeline Corp. 0.49% 1,565,036 $59.6M Add +3.8%
DELL Dell Technologies -C 0.49% 468,211 $58.9M Add +1272.3%
KNF Knife River Corp. 0.48% 825,363 $58.1M Add +15.2%
HWKN Hawkins Inc. 0.48% 407,767 $57.9M Add +28.0%
TMO Thermo Fisher Scientific Inc. 0.47% 98,313 $57.0M Reduce -28.0%
NBHC National Bank Hold Class A 0.47% 1,489,391 $56.6M Add +0.6%
NMRK Newmark Group Inc. Class A 0.46% 3,212,982 $55.7M Add +0.7%
CRM Salesforce Inc. 0.46% 209,882 $55.6M Reduce -35.4%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.46% 214,761 $55.6M Reduce -3.1%
ORLY O'reilly Automotive Inc. 0.45% 603,026 $55.0M Reduce -16.8%
ICE Intercontinental Exchange Inc. 0.45% 337,496 $54.7M Reduce -17.6%
AZZ Azz Inc. 0.45% 508,340 $54.5M Reduce -2.1%
V Visa Inc. Class A 0.43% 150,120 $52.6M Reduce -20.6%
ETR Entergy Corp. 0.43% 568,995 $52.6M New
GPOR Gulfport Energy Corp. 0.43% 252,194 $52.5M Reduce -20.4%
PAGP Plains GP Holdings LP 0.43% 2,711,118 $51.9M Add +2.9%
MCK McKesson Corp. 0.43% 62,903 $51.6M Reduce -32.4%
NWE Northwestern Energy Group Inc. 0.42% 787,257 $50.8M Reduce -19.8%
PEP Pepsico Inc. 0.42% 353,926 $50.8M Add +49.7%
WM Waste Management Inc. 0.42% 230,952 $50.7M Reduce -18.5%
BCC Boise Cascade Co. 0.42% 684,639 $50.4M Reduce -38.5%
HSY The Hershey Co. 0.41% 275,147 $50.1M Reduce -22.6%
ARCB Arcbest Corp. 0.41% 672,098 $49.9M Reduce -17.4%
VLTO Veralto Corp. 0.41% 498,931 $49.8M Reduce -20.1%
LPLA LPL Financial Holdings Inc. 0.41% 138,040 $49.3M Reduce -27.4%
MSCI MSCI Inc. 0.40% 85,521 $49.1M New
MCD McDonald's Corp. 0.40% 159,879 $48.9M Reduce -25.3%
IVV iShares Core S&P 500 ETF 0.39% 68,964 $47.2M Reduce -0.3%
AM Antero Midstream Corp. 0.39% 2,643,777 $47.0M Add +4.4%
KKR KKR & Co. Inc. 0.39% 368,656 $47.0M Reduce -19.8%
PCH Potlatchdeltic Corp. 0.37% 1,132,938 $45.1M Reduce -56.1%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.37% 817,260 $44.9M Reduce -8.5%
MCY Mercury General Corp. 0.36% 465,237 $43.8M Reduce -11.8%
QQQ Invesco QQQ Trust Series 1 0.36% 70,311 $43.2M Add +5.5%
WMT Walmart Inc. 0.35% 381,443 $42.5M Reduce -15.6%
MDST Westwd Sat Encd Mdstr in ETF 0.34% 1,576,749 $41.7M Reduce -1.4%
GILD Gilead Sciences Inc. 0.33% 328,782 $40.4M Reduce -1.1%
ADUS Addus Homecare Corp. 0.33% 375,171 $40.3M New
MYRG MYR Group Inc./Delaware 0.33% 181,908 $39.7M New
B Barrick Mining Corp. 0.32% 899,294 $39.2M Reduce -13.9%
CHD Church & Dwight Co. Inc. 0.32% 463,139 $38.8M Reduce -41.3%
CCB Coastal Financial Corp. 0.32% 337,040 $38.6M Reduce -5.0%
MGY Magnolia Oil & Gas Corp. Class A 0.32% 1,761,843 $38.6M New
IDA Idacorp Inc. 0.32% 304,547 $38.5M Reduce -1.8%
IOSP Innospec Inc. 0.31% 491,451 $37.6M Add +9.7%
JJSF J & J Snack Foods Corp. 0.31% 413,705 $37.4M Add +8.7%
LNN Lindsay Corp. 0.31% 315,353 $37.2M New
SAH Sonic Automotive Inc. Class A 0.30% 596,138 $36.9M Add +18.9%
POWI Power Integrations Inc. 0.30% 1,037,517 $36.9M New
DFIN Donnelley Financial Solution 0.30% 778,301 $36.3M Add +7.3%
THR Thermon Group Holdings Inc. 0.30% 976,821 $36.3M Reduce -34.3%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.30% 121,032 $35.9M Add +31.1%
CENTA Central Garden and Pet Co. Class A 0.29% 1,217,619 $35.5M Add +7.0%
SCL Stepan Co. 0.29% 741,307 $35.1M Reduce -51.4%
PWP Perella Weinberg Partners 0.29% 2,024,905 $35.0M Add +14.3%
ALG Alamo Group Inc. 0.29% 207,579 $34.8M Reduce -45.6%
XPEL Xpel Inc. 0.29% 693,277 $34.6M New
MDU Mdu Resources Group Inc. 0.28% 1,752,574 $34.2M New
SHO Sunstone Hotel Investors Inc. 0.28% 3,785,820 $33.8M Reduce -2.7%
TPHD Timothy Plan High DVD STCK 0.27% 858,500 $33.1M New
IJH iShares Core S&P Midcap ETF 0.27% 499,914 $33.0M Reduce -16.3%
HON Honeywell International Inc. 0.27% 168,031 $32.8M Reduce -3.4%
BOOT Boot Barn Holdings Inc. 0.26% 181,553 $32.0M Reduce -10.5%
SEI Solaris Energy Infrastructur 0.26% 689,768 $31.7M Reduce -19.9%
REXR Rexford Industrial Realty Inc. 0.26% 807,226 $31.3M Add +16.2%
GBCI Glacier Bancorp Inc. 0.26% 705,280 $31.1M Add +5.2%
CCK Crown Holdings Inc. 0.26% 301,012 $31.0M Reduce -2.4%
MOD Modine Manufacturing Co. 0.25% 228,418 $30.5M Add +18.8%
WTFC Wintrust Financial Corp. 0.25% 215,960 $30.2M Reduce -0.5%
TSM Taiwan Semiconductor-SP ADR 0.25% 99,335 $30.2M Reduce -12.8%
GDX Vaneck Gold Miners ETF 0.25% 351,849 $30.2M Add +16.9%
KTOS Kratos Defense & Security 0.25% 395,843 $30.0M Add +16.8%
INR Infinity Natural Resour Class A 0.25% 2,029,139 $29.9M Add +5.0%
TKR Timken Co. 0.25% 354,869 $29.9M Reduce -7.8%
SOBO South Bow Corp. 0.24% 1,077,286 $29.6M Add +3.3%
PR Permian Resources Corp. Class A 0.24% 2,098,372 $29.4M Add +28.3%
NFG National Fuel Gas Co. 0.24% 366,629 $29.4M Add +47.2%
DPZ Domino's Pizza Inc. 0.24% 70,288 $29.3M Add +4.1%
IWD iShares Russell 1000 Value E 0.24% 138,862 $29.2M Add +30.8%
AXTA Axalta Coating Systems Ltd. 0.24% 900,277 $29.1M Add +23.9%
LAD Lithia Motors Inc. 0.23% 85,346 $28.4M Reduce -5.3%
LFUS Littelfuse Inc. 0.23% 111,374 $28.2M Reduce -7.6%
MSA Msa Safety Inc. 0.23% 175,327 $28.1M Add +4.8%
TPLC Timothy PLN US LRG/Mid Cap 0.23% 616,000 $28.0M New
KNTK Kinetik Holdings Inc. 0.23% 774,045 $27.9M Reduce -21.6%
GS Goldman Sachs Group Inc. 0.23% 31,355 $27.6M Reduce -7.9%
ACN Accenture PLC Class A 0.22% 101,414 $27.2M Reduce -29.4%
NRG NRG Energy Inc. 0.22% 170,562 $27.2M No change
MRVL Marvell Technology Inc. 0.22% 318,861 $27.1M Reduce -2.7%
JBHT Hunt (jb) Transprt SVCS Inc. 0.22% 138,945 $27.0M New
SO The Southern Co. 0.22% 302,986 $26.4M Reduce -56.1%
RMBS Rambus Inc. 0.22% 285,073 $26.2M Add +21.3%
MU Micron Technology Inc. 0.21% 90,736 $25.9M Add +1.8%
WMG Warner Music Group Corp. Class A 0.21% 844,318 $25.9M Add +13.7%
AVGO Broadcom Inc. 0.21% 74,018 $25.6M Reduce -7.5%
BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC 0.21% 280,347 $25.2M Reduce -1.3%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.21% 163,545 $25.1M Reduce -9.1%
ETN Eaton Corp. PLC 0.20% 77,976 $24.8M Reduce -11.1%
EVR Evercore Inc. Class A 0.20% 72,439 $24.6M Reduce -0.8%
Q Qnity Electronics Inc. 0.20% 301,305 $24.6M New
PSA Public Storage 0.20% 94,773 $24.6M Reduce -9.0%
TPSC Timothy Plan US Small Cap Co. 0.20% 580,000 $24.0M New
CRWD CrowdStrike Holdings Inc. Class A 0.20% 50,897 $23.9M Reduce -14.2%
XPO Xpo Inc. 0.19% 171,055 $23.2M Reduce -6.2%
FRT Federal Realty Invs Trust 0.19% 223,473 $22.5M Reduce -0.1%
ITGR Integer Holdings Corp. 0.18% 282,148 $22.1M Reduce -1.2%
RNR Renaissancere Holdings Ltd. 0.18% 77,380 $21.8M Reduce -12.6%
MRX Marex UK Holdings Ltd. filed as MAREX GROUP PLC 0.18% 564,236 $21.6M Reduce -5.5%
CHRD Chord Energy Corp. 0.18% 233,048 $21.6M Add +8.9%
TXRH Texas Roadhouse Inc. 0.18% 128,990 $21.4M Reduce -6.7%
PEGA Pegasystems Inc. 0.18% 357,995 $21.4M Reduce -2.0%
RGLD Royal Gold Inc. 0.17% 94,296 $21.0M Add +12.0%
DOX Amdocs Ltd. 0.16% 248,081 $20.0M Add +7.9%
VTR Ventas Inc. 0.16% 253,188 $19.6M Reduce -4.1%
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F 0.16% 335,097 $19.5M Add +0.2%
UNP Union Pacific Corp. 0.16% 83,716 $19.4M Reduce -6.1%
RSP Invesco S&P 500 Equal Weight 0.15% 97,743 $18.7M Add +155.2%
WAL Western Alliance Bancorp 0.15% 214,476 $18.0M Reduce -7.5%
CSCO Cisco Systems Inc. 0.15% 233,962 $18.0M Add +1.7%
ESS Essex Property Trust Inc. 0.15% 68,119 $17.8M Add +0.4%
LSCC Lattice Semiconductor Corp. 0.14% 237,416 $17.5M New
FDX FedEx Corp. 0.14% 59,834 $17.3M Reduce -0.6%
MSI Motorola Solutions Inc. 0.14% 44,002 $16.9M Reduce -7.8%
J Jacobs Solutions Inc. 0.14% 123,881 $16.4M Reduce -7.6%
BWXT BWX Technologies Inc. 0.13% 94,287 $16.3M Add +9.7%
APTV Aptiv PLC 0.13% 210,122 $16.0M Reduce -9.5%
TFX Teleflex Inc. 0.13% 130,069 $15.9M Reduce -1.3%
ALC Alcon Inc. filed as ALCON AG 0.13% 199,990 $15.8M Add +8.4%
MPWR Monolithic Power Systems Inc. 0.13% 17,378 $15.8M Reduce -12.3%
MTN Vail Resorts Inc. 0.13% 115,902 $15.4M New
COF Capital One Financial Corp. 0.13% 63,402 $15.4M Reduce -33.8%
COO The Cooper Cos Inc. 0.13% 187,085 $15.3M Reduce -41.7%
TPG TPG Inc. 0.13% 238,738 $15.2M Add +2.0%
SMMD iShares Russell 2500 ETF 0.12% 202,058 $15.1M Add +93.3%
TSLA Tesla Inc. 0.12% 33,330 $15.0M Add +16.4%
ZTS Zoetis Inc. 0.12% 118,326 $14.9M Reduce -6.6%
BRX Brixmor Property Group Inc. 0.12% 559,267 $14.7M Reduce -2.5%
PAAS Pan American Silver Corp. 0.12% 282,910 $14.7M Reduce -38.4%
XME SS SPDR S&P Metals Mining 0.12% 140,479 $14.6M New
USFD US Foods Holding Corp. 0.12% 190,434 $14.3M Add +1.6%
HSIC Henry Schein Inc. 0.12% 185,483 $14.0M Reduce -35.0%
JEPI JPMorgan Equity Premium Inco 0.11% 239,958 $13.7M Reduce -0.6%
XLU St Sr Utl SL SE SPDR ETF-Usd 0.11% 319,862 $13.7M Reduce -0.5%
MDT Medtronic PLC 0.11% 138,831 $13.3M Add +1.8%
HYD Vaneck High Yield Muni ETF 0.11% 255,887 $13.1M Add +26.7%
VUG Vanguard Mrngstar GR ETF-Sui 0.11% 26,561 $13.0M Reduce -0.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.10% 111,523 $12.7M Reduce -83.5%
BIL SS SPDR BB 1-3M T-Bill ETF 0.10% 136,872 $12.5M Reduce -2.6%
PM Philip Morris International 0.10% 77,759 $12.5M Reduce -2.3%
WBI Waterbridge Infrastruc Class A 0.10% 610,655 $12.2M Add +1.8%
LMT Lockheed Martin Corp. 0.10% 25,018 $12.1M New
DTE DTE Energy Company 0.10% 93,654 $12.1M Reduce -6.2%
EZU iShares MSCI Eurozone ETF 0.10% 180,708 $11.6M Reduce -50.6%
LRCX Lam Research Corp. 0.09% 66,491 $11.4M New
XLI SS Industrial Select Sector 0.09% 73,358 $11.4M Reduce -0.3%
XLE SS Energy Select Sector 0.09% 245,363 $11.0M Reduce -0.1%
AVTR Avantor Inc. 0.09% 949,003 $10.9M New
WEEI Wstwd Sal Enhnc Engy Inm ETF 0.09% 497,889 $10.7M Reduce -4.0%
LHX L3HARRIS Technologies Inc. 0.09% 35,184 $10.3M Reduce -4.5%
EEM iShares MSCI Emerging Market 0.08% 186,365 $10.2M Add +34.2%
MLM Martin Marietta Materials 0.08% 16,267 $10.1M Reduce -7.5%
VTWG Vanguard Russell 2000 Growth 0.08% 42,154 $9.9M Reduce -34.4%
EOG EOG Resources Inc. 0.08% 94,194 $9.9M Reduce -4.5%
LNT Alliant Energy Corp. 0.08% 144,295 $9.4M Add +0.6%
AGG iShares Core U.S. Aggregate 0.08% 91,891 $9.2M Reduce -30.4%
TSN Tyson Foods Inc. Class A 0.07% 143,778 $8.4M Reduce -20.5%
CTVA Corteva Inc. 0.07% 122,027 $8.2M Reduce -9.3%
VONV Vanguard Russell 1000 Value 0.07% 87,119 $8.0M Reduce -6.3%
COST Costco Wholesale Corp. 0.07% 9,265 $8.0M Add +4.2%
CWEN Clearway Energy Inc. Class C 0.07% 238,039 $7.9M Add +183.0%
VB Vanguard Most SM-Cap ETF-Usd 0.06% 30,092 $7.8M Add +8.4%
COP Conocophillips 0.06% 82,908 $7.8M Add +4.0%
NOC Northrop Grumman Corp. 0.06% 12,915 $7.4M Reduce -7.7%
BXMT Blackstone Mortgage Tru Class A 0.06% 375,001 $7.2M Reduce -6.3%
NEXT Nextdecade Corp. 0.06% 1,319,661 $7.0M Reduce -0.8%
CACI Caci International Inc. Class A 0.06% 12,793 $6.8M Reduce -80.4%
CSR Centerspace 0.06% 100,000 $6.7M Reduce -20.0%
IUSG iShares Core S&P U.S. Growth 0.05% 37,864 $6.4M Reduce -0.2%
YLDW Westwood Enhe Income Opp ETF 0.05% 249,046 $6.2M New
WELL Welltower Inc. 0.05% 32,983 $6.1M Add +339.5%
MZTI The Marzetti Company 0.05% 36,524 $6.0M No change
BDX Becton Dickinson and Co. 0.05% 38,335 $6.0M Reduce -0.6%
HRL Hormel Foods Corp. 0.05% 251,067 $6.0M Reduce -9.9%
STE Steris PLC 0.05% 23,046 $5.8M No change
POOL Pool Corp. 0.05% 25,357 $5.8M Add +1.1%
CDNS Cadence Design SYS Inc. 0.05% 18,228 $5.7M Reduce -6.8%
RVTY Revvity Inc. 0.05% 57,927 $5.6M No change
HCA HCA Healthcare Inc. 0.05% 11,947 $5.6M Reduce -29.9%
MCHP Microchip Technology Inc. 0.05% 87,002 $5.5M Add +2.0%
SHW The Sherwin-Williams Co. 0.05% 16,970 $5.5M No change
AMGN Amgen Inc. 0.05% 16,780 $5.5M Add +11.4%
MKC McCormick & Co.-Non VTG SHRS 0.05% 80,591 $5.5M Reduce -0.0%
WY Weyerhaeuser Co. 0.04% 225,834 $5.4M Reduce -0.5%
ET Energy Transfer LP 0.04% 322,164 $5.3M Reduce -98.1%
WCN Waste Connections Inc. 0.04% 30,277 $5.3M Reduce -0.0%
MGV Vngrd Mrgstr MG CP VL ETF-Ui 0.04% 36,450 $5.1M No change
TYL Tyler Technologies Inc. 0.04% 10,890 $4.9M No change
HPP Hudson Pacific Properties Inc. 0.04% 450,001 $4.9M New
VG Venture Global Inc. Class A 0.04% 669,158 $4.6M Add +42.0%
CCI Crown Castle Inc. 0.04% 51,291 $4.6M Add +0.1%
WPC WP Carey Inc. 0.04% 70,726 $4.6M New
KO The Coca-Cola Co. 0.04% 64,231 $4.5M Add +49.5%
CB Chubb Ltd. 0.04% 14,321 $4.5M Add +8.8%
PWR Quanta Services Inc. 0.03% 10,007 $4.2M Add +0.4%
T AT&T Inc. 0.03% 169,945 $4.2M Add +19.2%
FANG Diamondback Energy Inc. 0.03% 27,733 $4.2M Reduce -17.4%
EPD Enterprise Products Partners 0.03% 128,252 $4.1M Reduce -97.7%
LLY Eli Lilly & Co. 0.03% 3,582 $3.8M Reduce -1.1%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.03% 34,566 $3.8M Reduce -2.0%
BRK.A Berkshire Hathaway Inc. Class A 0.03% 5 $3.8M No change
LINE Lineage Inc. 0.03% 100,232 $3.5M New
BA The Boeing Co. 0.03% 15,478 $3.4M Add +23.9%
APO Apollo Global Management Inc. 0.03% 21,314 $3.1M Reduce -13.6%
CAT Caterpillar Inc. 0.03% 5,329 $3.1M Add +8.4%
ASML ASML Holding NV-NY Reg SHS 0.02% 2,732 $2.9M New
SRE Sempra 0.02% 32,691 $2.9M New
IGIC International General Insura filed as INTL GNRL INSURANCE HLDNGS L 0.02% 113,454 $2.8M Reduce -12.5%
AMT American Tower Corp. 0.02% 16,138 $2.8M Reduce -19.5%
EQT Eqt Corp. 0.02% 52,422 $2.8M Reduce -8.5%
ORCL Oracle Corp. 0.02% 14,341 $2.8M Add +34.9%
EGP Eastgroup Properties Inc. 0.02% 15,620 $2.8M Reduce -20.0%
VST Vistra Corp. 0.02% 17,141 $2.8M Add +0.1%
TLT iShares 20+ Year Treasury BD 0.02% 30,002 $2.6M Reduce -51.2%
GE General Electric filed as GE AEROSPACE 0.02% 8,228 $2.5M Add +8.1%
WSM Williams-Sonoma Inc. 0.02% 13,221 $2.4M Add +16.8%
MPLX MPLX LP 0.02% 42,117 $2.2M Reduce -98.1%
INTC Intel Corp. 0.02% 60,496 $2.2M Add +6.0%
DUK Duke Energy Corp. 0.02% 18,986 $2.2M Add +5.2%
IWF iShares Russell 1000 Growth 0.02% 4,458 $2.1M Reduce -0.3%
SHLS Shoals Technologies Group -A 0.02% 241,515 $2.1M New
NKE Nike Inc. Class B 0.02% 31,078 $2.0M New
ACIC American Coastal Insurance C 0.02% 150,735 $1.9M No change
ABBV Abbvie Inc. 0.02% 8,317 $1.9M Reduce -1.5%
WES Western Midstream Partners L 0.01% 43,137 $1.7M Reduce -97.7%
TGT Target Corp. 0.01% 17,387 $1.7M Add +10.4%
PSX Phillips 66 0.01% 12,886 $1.7M Add +12.4%
ILMN Illumina Inc. 0.01% 12,372 $1.6M Reduce -3.3%
CDW CDW Corp. 0.01% 10,430 $1.4M Reduce -86.4%
IWM iShares Russell 2000 ETF 0.01% 5,713 $1.4M Add +3.0%
SW Smurfit Westrock PLC 0.01% 36,022 $1.4M Add +15.8%
SLB SLB Ltd. filed as SLB LIMITED 0.01% 35,765 $1.4M Add +16.3%
PFF iShares Preferred & Income S 0.01% 43,846 $1.4M Reduce -2.3%
VLO Valero Energy Corp. 0.01% 8,330 $1.4M Reduce -0.8%
ROK Rockwell Automation Inc. 0.01% 3,485 $1.4M Reduce -3.4%
HOOD Robinhood Markets Inc. Class A 0.01% 11,987 $1.4M Reduce -3.4%
AVNT Avient Corp. 0.01% 42,180 $1.3M No change
VOO Vanguard S&P 500 ETF 0.01% 2,040 $1.3M Add +4.7%
BRO Brown & Brown Inc. 0.01% 15,795 $1.3M Reduce -12.9%
CRSP Crispr Therapeutics AG 0.01% 23,915 $1.3M Reduce -4.8%
PAA Plains All Amer Pipeline LP 0.01% 67,520 $1.2M Reduce -95.8%
REGN Regeneron Pharmaceuticals 0.01% 1,484 $1.1M Reduce -10.5%
BKR Baker Hughes Co. 0.01% 24,784 $1.1M Add +16.3%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.01% 13,907 $1.1M Add +53.8%
SCCO Southern Copper Corp. 0.01% 7,808 $1.1M Add +182.7%
CADE Cadence Bank 0.01% 25,457 $1.1M Add +9.2%
PG The Procter & Gamble Co. 0.01% 6,902 $989K Reduce -4.3%
SNOW Snowflake Inc. 0.01% 4,472 $981K Reduce -3.2%
LIN Linde PLC 0.01% 2,279 $972K Add +0.9%
PANW Palo Alto Networks Inc. 0.01% 5,273 $971K Reduce -3.2%
CME Cme Group Inc. 0.01% 3,493 $954K Add +19.3%
AIR Aar Corp. 0.01% 11,452 $948K Reduce -99.0%
DKS Dick's Sporting Goods Inc. 0.01% 4,788 $948K Add +6.6%
IEMG iShares Core MSCI Emerging 0.01% 13,992 $941K Reduce -0.1%
MPC Marathon Petroleum Corp. 0.01% 5,778 $940K Reduce -13.1%
GEL Genesis Energy L.P. 0.01% 59,691 $931K Reduce -96.8%
MP MP Materials Corp. 0.01% 18,156 $917K Reduce -21.0%
COIN Coinbase Global Inc. Class A 0.01% 3,946 $892K Reduce -1.6%
SOLS Solstice Adv Materials Inc. 0.01% 17,529 $852K Reduce -59.7%
DVN Devon Energy Corp. 0.01% 22,562 $826K Add +10.3%
BP BP PLC-Spons ADR 0.01% 22,667 $787K No change
BABA Alibaba Group Holding-SP ADR 0.01% 5,149 $755K New
OXY Occidental Petroleum Corp. 0.01% 18,061 $743K Reduce -6.4%
NFLX Netflix Inc. 0.01% 7,602 $713K Add +4.6%
AVAV Aerovironment Inc. 0.01% 2,945 $712K Reduce -2.1%
UEC Uranium Energy Corp. 0.01% 60,327 $705K Reduce -2.8%
CSW CSW Industrials Inc. 0.01% 2,400 $704K No change
TPR Tapestry Inc. 0.01% 5,449 $696K Add +0.1%
MEOH Methanex Corp. 0.01% 17,115 $680K No change
HAL Halliburton Co. 0.01% 23,472 $663K Add +16.3%
UBER Uber Technologies Inc. 0.01% 7,968 $651K Reduce -1.9%
NET Cloudflare Inc. Class A 0.01% 3,235 $638K Reduce -4.4%
SPGI S&P Global Inc. 0.01% 1,214 $634K Reduce -0.7%
SMFG Sumitomo Mitsui-Spons ADR 0.01% 32,820 $634K No change
MA Mastercard Inc. Class A 0.01% 1,094 $625K Reduce -0.7%
EXE Expand Energy Corp. 0.01% 5,559 $613K Add +16.4%
ARLO Arlo Technologies Inc. 0.01% 43,270 $605K Reduce -2.4%
CQP Cheniere Energy Partners LP 0.01% 11,245 $601K No change
CTRA Coterra Energy Inc. 0.00% 21,154 $557K Add +15.2%
BSV Vanguard Short-Term Bond ETF 0.00% 6,992 $551K Add +2.0%
MO Altria Group Inc. 0.00% 9,539 $550K No change
VXUS Vanguard Total Intl Stock 0.00% 7,202 $543K No change
RBLX Roblox Corp. Class A 0.00% 6,654 $539K Reduce -7.1%
IJR iShares Core S&P Small-Cap E 0.00% 4,458 $536K Reduce -11.3%
TFC Truist Financial Corp. 0.00% 10,629 $523K No change
QCOM Qualcomm Inc. 0.00% 3,020 $517K Add +0.3%
RY Royal Bank of Canada 0.00% 2,829 $482K No change
BN Brookfield Corp. 0.00% 10,381 $476K Reduce -0.3%
CNI Canadian Natl Railway Co. 0.00% 4,761 $471K Reduce -16.7%
SCHD Schwab US DVD Equity ETF 0.00% 16,163 $443K No change
IVW iShares S&P 500 Growth ETF 0.00% 3,586 $442K No change
HTH Hilltop Holdings Inc. 0.00% 12,959 $440K No change
USHY iShares Broad Usd High Yield 0.00% 10,472 $392K New
EFA iShares MSCI Eafe ETF 0.00% 3,971 $381K Add +21.4%
TRI Thomson Reuters Corp. 0.00% 2,889 $381K Reduce -0.0%
PB Prosperity Bancshares Inc. 0.00% 5,431 $375K Add +26.5%
SBR Sabine Royalty Trust 0.00% 5,363 $368K Add +0.3%
CMG Chipotle Mexican Grill Inc. 0.00% 9,922 $367K Reduce -5.7%
RIOT Riot Platforms Inc. 0.00% 28,099 $356K No change
MMM 3M Co. 0.00% 2,215 $355K No change
EPS Wisdomtree US Large Cap Fund 0.00% 4,968 $352K Reduce -2.8%
TPL Texas Pacific Land Corp. 0.00% 1,188 $341K Add +15.8%
MFC Manulife Financial Corp. 0.00% 9,343 $339K No change
HBAN Huntington Bancshares Inc. 0.00% 19,500 $338K New
IWS iShares Russell Mid-Cap Valu 0.00% 2,366 $334K New
APA Apa Corp. 0.00% 13,519 $331K Add +15.2%
IWN iShares Russell 2000 Value E 0.00% 1,810 $328K New
C Citigroup Inc. 0.00% 2,786 $325K No change
MS Morgan Stanley 0.00% 1,805 $320K Add +9.2%
CRGY Crescent Energy Inc. Class A 0.00% 37,593 $315K No change
BMO Bank of Montreal filed as BANK MONTREAL QUE 0.00% 2,336 $303K No change
VGT Vanguard Info Tech ETF 0.00% 399 $301K No change
BBVA Banco Bilbao Vizcaya-SP ADR 0.00% 12,785 $298K No change
CL Colgate-Palmolive Co. 0.00% 3,719 $294K Reduce -13.6%
SPFI South Plains Financial Inc. 0.00% 7,507 $291K No change
IJK iShares S&P Mid-Cap 400 Grow 0.00% 2,993 $290K No change
CMS CMS Energy Corp. 0.00% 4,125 $288K Reduce -89.7%
AMKR Amkor Technology Inc. 0.00% 7,277 $287K Reduce -10.3%
LOW Lowe's Cos Inc. 0.00% 1,190 $287K Reduce -3.3%
BOKF Bok Financial Corporation 0.00% 2,370 $281K Reduce -10.1%
BX Blackstone Inc. 0.00% 1,811 $279K Reduce -24.9%
OWL Blue Owl Capital Inc. 0.00% 18,647 $279K Reduce -97.8%
NOW ServiceNow Inc. 0.00% 1,785 $273K Reduce -2.7%
FTI Technipfmc PLC 0.00% 6,000 $267K No change
AROC Archrock Inc. 0.00% 9,815 $255K No change
DHR Danaher Corp. 0.00% 1,103 $252K No change
FNX First Trust Mid Cap Core Alp 0.00% 1,987 $250K No change
YUM Yum! Brands Inc. 0.00% 1,600 $242K Reduce -0.2%
PSEC Prospect Capital Corp. 0.00% 93,246 $242K No change
EFAV iShares MSCI Eafe Min Vol Fa 0.00% 2,724 $235K No change
BLV Vanguard Long-Term Bond ETF 0.00% 3,367 $234K Reduce -6.8%
IJJ iShares S&P Mid-Cap 400 Valu 0.00% 1,770 $233K No change
GLD SPDR Gold Shares 0.00% 578 $229K New
UAL United Airlines Holdings Inc. 0.00% 2,037 $228K New
VTI VG Morningstar TS MKT ETF-US 0.00% 668 $224K No change
USMV iShares MSCI USA Min Vol Fac 0.00% 2,359 $222K Reduce -17.9%
MBB iShares MBS ETF 0.00% 2,314 $220K Reduce -4.0%
BBCA JPMorgan Betabuilders Canada 0.00% 2,363 $220K Reduce -9.1%
BBJP JPMorgan Betabuilders Japan 0.00% 3,314 $218K Reduce -2.6%
COYA Coya Therapeutics Inc. 0.00% 36,660 $213K New
APD Air Products & Chemicals Inc. 0.00% 842 $208K Reduce -31.9%
LIEN Chicago Atlantic BDC Inc. 0.00% 10,737 $111K No change
LPRO Open Lending Corp. 0.00% 10,000 $16K No change
Other holdings (56): bonds, preferreds, convertibles and warrants · $169.6M (not counted above)
SecurityClassShares / PrincipalValueChange
HP ENTERPRISE CO (HPE 7.625 09/01/27) 7.625 MAND CONV 195,150$13.0MNo change
BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A 184,550$12.7MNo change
RLJ LODGING TRUST (RLJ 1.95 PERP A) CUM CONV PFD A 375,000$9.3MNo change
LXP INDUSTRIAL TRUST (LXP 6.5 PERP C) PFD CONV SER C 190,000$8.9MNo change
EPR PROPERTIES (EPR 9 PERP E) CONV PFD 9% SR E 283,506$8.5MNo change
BLACKLINE INC (BL 1 06/01/29) NOTE 1.000% 6/0 · principal 8,100,000$8.1MAdd +6.6%
NORTHERN OIL & GAS INC (NOG 3.625 04/15/29) NOTE 3.625% 4/1 · principal 6,515,000$6.5MNo change
NEXTERA ENERGY CAPITAL (NEE 3 03/01/27) NOTE 3.000% 3/0 · principal 6,400,000$6.4MNo change
CENTERPOINT ENERGY INC (CNP 4.25 08/15/26) NOTE 4.250% 8/1 · principal 6,180,000$6.2MNo change
MERITAGE HOMES CORP (MTH 1.75 05/15/28) NOTE 1.750% 5/1 · principal 6,140,000$6.1MNo change
PEBBLEBROOK HOTEL TRUST (PEB 6.3 PERP F) 6.3 CUM PFD SR F 242,066$4.6MNo change
REDWOOD TRUST INC (RWT 7.75 06/15/27) NOTE 7.750% 6/1 · principal 3,500,000$3.5MNo change
PARSONS CORP (PSN 2.625 03/01/29) NOTE 2.625% 3/0 · principal 3,300,000$3.3MAdd +10.0%
BLACKSTONE MORTGAGE TR (BXMT 5.5 03/15/27) NOTE 5.500% 3/1 · principal 3,000,000$3.0MNo change
SHIFT4 PAYMENTS INC (FOUR 0.5 08/01/27) NOTE 0.500% 8/0 · principal 2,800,000$2.8MNo change
DATADOG INC (DDOG 0 12/01/29) NOTE 12/0 · principal 2,500,000$2.5MNew
GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) NOTE 1.500% 3/0 · principal 2,500,000$2.5MNew
JD.COM INC (JD 0.25 06/01/29) NOTE 0.250% 6/0 · principal 2,500,000$2.5MNo change
OSI SYSTEMS INC (OSIS 2.25 08/01/29) NOTE 2.250% 8/0 · principal 2,500,000$2.5MAdd +25.0%
TETRA TECH INC (TTEK 2.25 08/15/28) DBCV 2.250% 8/1 · principal 2,500,000$2.5MAdd +66.7%
SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) 6 SER A CNV PREF 30,000$2.4MNo change
ADVANCED ENERGY IND (AEIS 2.5 09/15/28) NOTE 2.500% 9/1 · principal 2,250,000$2.3MReduce -18.2%
CMS ENERGY CORP (CMS 3.375 05/01/28) NOTE 3.375% 5/0 · principal 2,250,000$2.3MNo change
FLUOR CORP (FLR 1.125 08/15/29) NOTE 1.125% 8/1 · principal 2,250,000$2.3MNo change
MKS INC (MKSI 1.25 06/01/30) NOTE 1.250% 6/0 · principal 2,200,000$2.2MNo change
ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) NOTE 1.000% 9/1 · principal 2,100,000$2.1MNo change
ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) NOTE 0.500% 6/0 · principal 2,000,000$2.0MReduce -20.0%
GRANITE CONSTRUCTION INC (GVA 3.25 06/15/30) NOTE 3.250% 6/1 · principal 2,000,000$2.0MNo change
IONIS PHARMACEUTICALS IN (IONS 1.75 06/15/28) NOTE 1.750% 6/1 · principal 2,000,000$2.0MNo change
ITRON INC (ITRI 1.375 07/15/30) NOTE 1.375% 7/1 · principal 2,000,000$2.0MNo change
LIVE NATION ENTERTAINMEN (LYV 3.125 01/15/29) NOTE 3.125% 1/1 · principal 2,000,000$2.0MNo change
NUTANIX INC (NTNX 0.25 10/01/27) NOTE 0.250%10/0 · principal 2,000,000$2.0MNo change
SNOWFLAKE INC (SNOW 0 10/01/29) NOTE 10/0 · principal 2,000,000$2.0MNo change
TRIP.COM GROUP LTD (TCOM 0.75 06/15/29) NOTE 0.750% 6/1 · principal 2,000,000$2.0MNo change
UBER TECHNOLOGIES INC (UBER 0.875 12/01/28 2028) NOTE 0.875%12/0 · principal 2,000,000$2.0MNo change
PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E) 6.375 PFD SER E 98,002$1.9MNo change
ORMAT TECHNOLOGIES INC (ORA 2.5 07/15/27) NOTE 2.500% 7/1 · principal 1,750,000$1.8MNo change
DEXCOM INC (DXCM 0.375 05/15/28) NOTE 0.375% 5/1 · principal 1,500,000$1.5MNo change
LIBERTY MEDIA CORP (FWONK 2.25 08/15/27) NOTE 2.250% 8/1 · principal 1,500,000$1.5MNo change
MICROCHIP TECHNOLOGY INC (MCHP 0.75 06/01/30) NOTE 0.750% 6/0 · principal 1,500,000$1.5MNo change
SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) NOTE 0.250%10/0 · principal 1,500,000$1.5MNew
CHEFS' WAREHOUSE THE (CHEF 2.375 12/15/28) NOTE 2.375%12/1 · principal 1,470,000$1.5MNo change
AEROVIRONMENT INC (AVAV 0 07/15/30) NOTE 7/1 · principal 1,000,000$1.0MNew
DROPBOX INC (DBX 0 03/01/28) NOTE 3/0 · principal 1,000,000$1.0MReduce -50.0%
EVERGY INC (EVRG 4.5 12/15/27) NOTE 4.500%12/1 · principal 1,000,000$1.0MNew
FIVE9 INC (FIVN 1 03/15/29) NOTE 1.000% 3/1 · principal 1,000,000$1.0MNo change
LANTHEUS HOLDINGS INC (LNTH 2.625 12/15/27) NOTE 2.625%12/1 · principal 1,000,000$1.0MNo change
SEAGATE HDD CAYMAN (STX 3.5 06/01/28) NOTE 3.500% 6/0 · principal 1,000,000$1.0MReduce -33.3%
SYNAPTICS INC (SYNA 0.75 12/01/31) NOTE 0.750%12/0 · principal 1,000,000$1.0MNew
VEECO INSTRUMENTS INC (VECO 2.875 06/01/29) NOTE 2.875% 6/0 · principal 1,000,000$1.0MNo change
WESTERN DIGITAL CORP (WDC 3 11/15/28) NOTE 3.000%11/1 · principal 800,000$800KReduce -27.3%
EPR PROPERTIES (EPR 5.75 PERP C) PFD C CV 5.75% 31,000$688KNo change
PEABODY ENERGY CORP (BTU 3.25 03/01/28) NOTE 3.250% 3/0 · principal 500,000$500KNo change
PENNYMAC CORP (PMT 5.5 03/15/26) NOTE 5.500% 3/1 · principal 500,000$500KNo change
VISHAY INTERTECHNOLOGY (VSH 2.25 09/15/30) NOTE 2.250% 9/1 · principal 500,000$500KNo change
WISDOMTREE INC (WT 3.25 08/15/29) NOTE 3.250% 8/1 · principal 500,000$500KNo change

Total filed on the 13F, all lines: $12.3B.

Portfolio Sells Q3 2025 → Q4 2025
ET Energy Transfer LP Reduce -98.1% 0.04% −2.06
EPD Enterprise Products Partners Reduce -97.7% 0.03% −1.23
MPLX MPLX LP Reduce -98.1% 0.02% −0.79
AIR Aar Corp. Reduce -99.0% 0.01% −0.77
SM SM Energy Co. Sold out 0.00% −0.66
BLD Topbuild Corp. Sold out 0.00% −0.58
WES Western Midstream Partners L Reduce -97.7% 0.01% −0.51
DIS The Walt Disney Co. Reduce -83.5% 0.10% −0.46
CNMD Conmed Corp. Sold out 0.00% −0.45
ADC Agree Realty Corp. Sold out 0.00% −0.43
PCH Potlatchdeltic Corp. Reduce -56.1% 0.37% −0.39
PLYM Plymouth Industrial REIT Inc. Sold out 0.00% −0.29
GD General Dynamics Corp. Reduce -40.3% 0.57% −0.28
SO The Southern Co. Reduce -56.1% 0.22% −0.26
ALG Alamo Group Inc. Reduce -45.6% 0.29% −0.24
SCL Stepan Co. Reduce -51.4% 0.29% −0.24
NTB Bank of N.T. Butterfield&son Sold out 0.00% −0.22
GEL Genesis Energy L.P. Reduce -96.8% 0.01% −0.22
BCC Boise Cascade Co. Reduce -38.5% 0.42% −0.21
PAA Plains All Amer Pipeline LP Reduce -95.8% 0.01% −0.19
ABT Abbott Laboratories Reduce -26.8% 0.67% −0.19
CHD Church & Dwight Co. Inc. Reduce -41.3% 0.32% −0.18
CACI Caci International Inc. Class A Reduce -80.4% 0.06% −0.18
AHR American Healthcare REIT Inc. Sold out 0.00% −0.16
GOOGL Alphabet Inc. Class A Reduce -39.7% 1.01% −0.13
LNG Cheniere Energy Inc. Reduce -3.4% 1.25% −0.12
TMUS T-Mobile US Inc. Reduce -15.4% 0.53% −0.12
HD Home Depot Inc. Reduce -12.0% 0.66% −0.12
CCJ Cameco Corp. Sold out 0.00% −0.11
ORLY O'reilly Automotive Inc. Reduce -16.8% 0.45% −0.11
CFR Cullen/Frost Bankers Inc. Reduce -21.9% 0.81% −0.10
META Meta Platforms Inc. Class A Reduce -14.8% 0.69% −0.10
SSB Southstate Bank Corp. Reduce -17.9% 0.82% −0.10
OWL Blue Owl Capital Inc. Reduce -97.8% 0.00% −0.10
CRM Salesforce Inc. Reduce -35.4% 0.46% −0.10
MCK McKesson Corp. Reduce -32.4% 0.43% −0.09
XLC SS Comm Select Sector SPDR Sold out 0.00% −0.09
PGR Progressive Corp. Reduce -18.1% 0.51% −0.08
DKL Delek Logistics Partners LP Sold out 0.00% −0.08
CDW CDW Corp. Reduce -86.4% 0.01% −0.08
KNTK Kinetik Holdings Inc. Reduce -21.6% 0.23% −0.08
WEC WEC Energy Group Inc. Reduce -14.1% 0.67% −0.07
VLTO Veralto Corp. Reduce -20.1% 0.41% −0.07
EZU iShares MSCI Eurozone ETF Reduce -50.6% 0.10% −0.07
HSY The Hershey Co. Reduce -22.6% 0.41% −0.07
EXP Eagle Materials Inc. Reduce -10.9% 0.61% −0.07
MCD McDonald's Corp. Reduce -25.3% 0.40% −0.07
HUBB Hubbell Inc. Reduce -22.5% 0.69% −0.07
EXR Extra Space Storage Inc. Sold out 0.00% −0.05
LPLA LPL Financial Holdings Inc. Reduce -27.4% 0.41% −0.05

Portfolio Buys Q3 2025 → Q4 2025
VEA Vanguard Ftse Developed ETF Add +9.9% 2.45% +0.57
MRK Merck & Co. Inc. Add +1953.4% 0.52% +0.50
DELL Dell Technologies -C Add +1272.3% 0.49% +0.45
FBK FB Financial Corp. Add +275.8% 0.57% +0.44
ETR Entergy Corp. New 0.43% +0.43
MSCI MSCI Inc. New 0.40% +0.40
ADUS Addus Homecare Corp. New 0.33% +0.33
MYRG MYR Group Inc./Delaware New 0.33% +0.33
MGY Magnolia Oil & Gas Corp. Class A New 0.32% +0.32
LNN Lindsay Corp. New 0.31% +0.31
POWI Power Integrations Inc. New 0.30% +0.30
XPEL Xpel Inc. New 0.29% +0.29
MDU Mdu Resources Group Inc. New 0.28% +0.28
SXI Standex International Corp. Add +67.4% 0.58% +0.28
TPHD Timothy Plan High DVD STCK New 0.27% +0.27
TPLC Timothy PLN US LRG/Mid Cap New 0.23% +0.23
JBHT Hunt (jb) Transprt SVCS Inc. New 0.22% +0.22
WMB Williams Cos Inc. Add +2.7% 2.11% +0.21
DTM DT Midstream Inc. Add +1.6% 1.11% +0.20
Q Qnity Electronics Inc. New 0.20% +0.20
TPSC Timothy Plan US Small Cap Co. New 0.20% +0.20
PEP Pepsico Inc. Add +49.7% 0.42% +0.18
SXT Sensient Technologies Corp. Add +10.4% 0.86% +0.18
ENB Enbridge Inc. Add +10.4% 1.07% +0.17
BL Blackline Inc. Add +9.7% 0.69% +0.16
OKE Oneok Inc. Add +0.8% 1.07% +0.14
LSCC Lattice Semiconductor Corp. New 0.14% +0.14
TRP TC Energy Corp. Add +2.1% 0.96% +0.14
MTN Vail Resorts Inc. New 0.13% +0.13
XME SS SPDR S&P Metals Mining New 0.12% +0.12
IBM Intl Business Machines Corp. Add +31.1% 0.30% +0.11
MU Micron Technology Inc. Add +1.8% 0.21% +0.11
NOG Northern Oil and Gas Inc. Add +23.2% 0.59% +0.10
RSP Invesco S&P 500 Equal Weight Add +155.2% 0.15% +0.10
LMT Lockheed Martin Corp. New 0.10% +0.10
LRCX Lam Research Corp. New 0.09% +0.09
PR Permian Resources Corp. Class A Add +28.3% 0.24% +0.09
AVTR Avantor Inc. New 0.09% +0.09
AXTA Axalta Coating Systems Ltd. Add +23.9% 0.24% +0.09
IWD iShares Russell 1000 Value E Add +30.8% 0.24% +0.08
PBH Prestige Consumer Healthcare Add +3.3% 0.60% +0.08
GDX Vaneck Gold Miners ETF Add +16.9% 0.25% +0.08
PAGP Plains GP Holdings LP Add +2.9% 0.43% +0.08
KNF Knife River Corp. Add +15.2% 0.48% +0.08
SFNC Simmons First Natl Corp. Class A Add +3.6% 0.57% +0.08
NFG National Fuel Gas Co. Add +47.2% 0.24% +0.08
CDP Copt Defense Properties Add +1.0% 0.83% +0.08
CCS Century Communities Inc. Add +6.0% 0.62% +0.07
SPY SS SPDR S&P 500 ETF Trust-US Add +0.4% 0.49% +0.07
SMMD iShares Russell 2500 ETF Add +93.3% 0.12% +0.07

Notes & Other Activity Q3 2025 → Q4 2025
BLACKLINE INC (BL 1 06/01/29) NOTE 1.000% 6/0 · principal Add +6.6% 8,100,000 $8.1M
INTEGER HOLDINGS CORP (ITGR 2.125 02/15/28) NOTE 2.125% 2/1 · principal Sold out 4,915,000 $6.4Mbefore exit
PARSONS CORP (PSN 2.625 03/01/29) NOTE 2.625% 3/0 · principal Add +10.0% 3,300,000 $3.3M
DATADOG INC (DDOG 0 12/01/29) NOTE 12/0 · principal New 2,500,000 $2.5M
GLOBAL PAYMENTS INC (GPN 1.5 03/01/31) NOTE 1.500% 3/0 · principal New 2,500,000 $2.5M
TETRA TECH INC (TTEK 2.25 08/15/28) DBCV 2.250% 8/1 · principal Add +66.7% 2,500,000 $2.5M
OSI SYSTEMS INC (OSIS 2.25 08/01/29) NOTE 2.250% 8/0 · principal Add +25.0% 2,500,000 $2.5M
LUMENTUM HOLDINGS INC (LITE 1.5 12/15/29) NOTE 1.500%12/1 · principal Sold out 1,000,000 $2.4Mbefore exit
ADVANCED ENERGY IND (AEIS 2.5 09/15/28) NOTE 2.500% 9/1 · principal Reduce -18.2% 2,250,000 $2.3M
BOX INC (BOX 1.5 09/15/29) NOTE 1.500% 9/1 · principal Sold out 2,000,000 $2.0Mbefore exit
ALIBABA GROUP HOLDING (BABA 0.5 06/01/31) NOTE 0.500% 6/0 · principal Reduce -20.0% 2,000,000 $2.0M
SOLARIS ENERGY INFRASTRU (SEI 0.25 10/01/31) NOTE 0.250%10/0 · principal New 1,500,000 $1.5M
HALOZYME THERAPEUTICS IN (HALO 1 08/15/28) NOTE 1.000% 8/1 · principal Sold out 1,000,000 $1.4Mbefore exit
RWT HOLDINGS INC (RWT 5.75 10/01/25) NOTE 5.750%10/0 · principal Sold out 1,000,000 $1.0Mbefore exit
SEAGATE HDD CAYMAN (STX 3.5 06/01/28) NOTE 3.500% 6/0 · principal Reduce -33.3% 1,000,000 $1.0M
DROPBOX INC (DBX 0 03/01/28) NOTE 3/0 · principal Reduce -50.0% 1,000,000 $1.0M
AEROVIRONMENT INC (AVAV 0 07/15/30) NOTE 7/1 · principal New 1,000,000 $1.0M
EVERGY INC (EVRG 4.5 12/15/27) NOTE 4.500%12/1 · principal New 1,000,000 $1.0M
SYNAPTICS INC (SYNA 0.75 12/01/31) NOTE 0.750%12/0 · principal New 1,000,000 $1.0M
RAPID7 INC (RPD 1.25 03/15/29) NOTE 1.250% 3/1 · principal Sold out 1,000,000 $893Kbefore exit
WESTERN DIGITAL CORP (WDC 3 11/15/28) NOTE 3.000%11/1 · principal Reduce -27.3% 800,000 $800K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 617$13.2BWMB, VEA, ET, BIL, KMI
Q1 2026 452$13.7BWMB, ET, BIL, VEA, KMI
Q4 2025 426$12.1BVEA, WMB, KMI, LNG, TRGP
Q3 2025 433$13.8BET, WMB, VEA, KMI, LNG
Q2 2025Amended 419$13.7BET, WMB, VEA, MSFT, KMI
Q1 2025 416$13.1BET, WMB, OKE, TRGP, MSFT
Q4 2024 439$12.8BET, WMB, MSFT, JPM, TRGP
Q3 2024 424$12.9BET, MSFT, WMB, JPM, WES
Q2 2024 412$12.1BET, MSFT, LNG, AAPL, JPM
Q1 2024Amended 414$12.6BET, MSFT, JPM, LNG, OKE