1y return+23.7%S&P 500 +20.9%
3y return+87.5%S&P 500 +68.5%
5y return+90.0%S&P 500 +74.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since September 30, 2020: $303 against $223 in the S&P 500.2
First Dallas Securities Inc.S&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| NVDANvidia Corporation | $41.7M | 13.8% | |
| TPLTexas Pacific Land Corporation | $25.0M | 8.3% | −4.1% |
| AAPLApple Inc | $19.5M | 6.4% | |
| AMZNAmazon.Com Inc | $10.3M | 3.4% | +8.6% |
| CATCaterpillar Inc | $8.6M | 2.8% | −6.5% |
| FCXFreeport-Mcmoran Inc Cl B | $7.7M | 2.5% | −2.0% |
| BABoeing Co | $7.1M | 2.3% | |
| MUMicron Technology Inc | $6.6M | 2.2% | −28.3% |
| Exxon Mobile CorpCUSIP 30231G102 | $6.0M | 2.0% | −1.6% |
| Oneok IncCUSIP 682680103 | $5.7M | 1.9% | −7.7% |
| UBERUber Technologies Inc | $5.3M | 1.8% | −4.5% |
| LLYEli Lilly & Co | $5.2M | 1.7% | −19.2% |
| Sharkninja IncCUSIP G8068L108 | $5.2M | 1.7% | −3.7% |
| RHPRyman Hospitality Properties I | $4.8M | 1.6% | +3.2% |
| METAMeta Platforms Inc Cl A | $4.4M | 1.5% | −3.0% |
| HDHome Depot Inc | $4.4M | 1.4% | +2.9% |
| JPMJpmorgan Chase & Co | $4.3M | 1.4% | |
| JNJJohnson & Johnson | $4.0M | 1.3% | −3.8% |
| CCitigroup Inc New | $4.0M | 1.3% | −4.5% |
| AIRAar Corp | $3.8M | 1.2% | New |
| EXPEagle Materials Inc | $3.6M | 1.2% | −2.1% |
| WULFTerawulf Inc | $3.5M | 1.1% | −9.1% |
| MSFTMicrosoft Corp | $3.4M | 1.1% | −14.7% |
| TSMTaiwan Semiconductor Mfg Ltd S | $3.4M | 1.1% | −2.7% |
| MRPMillrose Properties Inc Cl A | $3.3M | 1.1% | +1.6% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| NVDANvidia Corporation | September 30, 2020 | +1378.8% | $41.7M |
| WULFTerawulf Inc | March 31, 2025 | +804.8% | $3.5M |
| CATCaterpillar Inc | September 30, 2020 | +614.0% | $8.6M |
| TSMTaiwan Semiconductor Mfg Ltd S | December 31, 2023 | +359.2% | $3.4M |
| POWLPowell Industries Inc | June 30, 2025 | +308.2% | $2.0M |
| GOOGAlphabet Inc Cap Stock Cl C | December 31, 2020 | +303.4% | $2.7M |
| Exxon Mobile CorpCUSIP 30231G102 | September 30, 2020 | +298.3% | $6.0M |
| JPMJpmorgan Chase & Co | September 30, 2020 | +240.0% | $4.3M |
| MTZMastec Inc | September 30, 2024 | +238.0% | $2.2M |
| Oneok IncCUSIP 682680103 | September 30, 2020 | +234.7% | $5.7M |
Sold off last quarter
- IBMIntl Business Machines was $1.3M
- ACAArcosa Inc was $1.1M
- Honeywell Intl IncCUSIP 438516106 was $531K
- CXWCorecivic Inc was $520K
- EATBrinker Intl Inc was $427K
- RHRh was $398K
- MCDMcdonalds Corp was $368K
- CRCLCircle Internet Group Inc Cl A was $291K
- Navigator Holdings LtdCUSIP Y62132108 was $267K
- ONDSOndas Inc was $221K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +10.8% | +14.8% |
| March 31, 2026 | +2.7% | −4.6% |
| December 31, 2025 | +1.5% | +2.4% |
| September 30, 2025 | +7.1% | +7.8% |
| June 30, 2025 | +7.9% | +10.5% |
| March 31, 2025 | −2.4% | −4.6% |
| December 31, 2024 | +2.8% | +2.1% |
| September 30, 2024 | +6.7% | +5.4% |
| June 30, 2024 | +6.0% | +4.0% |
| March 31, 2024 | +13.4% | +10.0% |
| December 31, 2023 | +8.9% | +11.2% |
| September 30, 2023 | +0.3% | −3.6% |
| June 30, 2023 | +3.8% | +8.3% |
| March 31, 2023 | +2.0% | +7.0% |
| December 31, 2022 | +13.8% | +7.1% |
| September 30, 2022 | −2.8% | −5.3% |
| June 30, 2022 | −14.9% | −16.5% |
| March 31, 2022 | −0.1% | −4.9% |
| December 31, 2021 | +8.5% | +10.7% |
| September 30, 2021 | −6.1% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: First Dallas Securities Inc. Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1378559&type=13F-HR&dateb=&owner=include&count=40CIK 1378559
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1378559/000137855926000005/Filed August 3, 2026 · accession 0001378559-26-000005