First Dallas Securities Inc.
SEC Form 13F institutional filer · CIK 0001378559
13F-HR · 75 reported holdings · 2026-03-31
Reported long-US-equity value
$0.22B
Top-10 concentration
59.5%
First Dallas Securities Inc. — $217M AUM allocation strategy
First Dallas Securities Inc. files SEC Form 13F and reports $217M of long US equity value across 75 reported holdings for 2026-03-31.
Its largest sector bet is Information Technology 26.3%, followed by Energy 21.0% and Industrials 9.7%.
The top 10 holdings account for 59% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
First Dallas Securities Inc. — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$217M
total across 75 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
59% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$UPS +14.3K sh · +$1.39M+$NFLX +6.74K sh · +$659K+$JNJ +5.07K sh · +$1.67M
Biggest trims (shares)
−$HPE −14.9K sh · −$363K−$ABBV −12.2K sh · −$2.83M−$VST −11.4K sh · −$1.89M
Exited to nil (held last quarter, gone now)
$V ($633K last qtr)$TTWO ($470K last qtr)$GM ($391K last qtr)$DECK ($227K last qtr)
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Semiconductors16.6%—
- Oil & Gas Exploration & Production14.6%—
- Technology Hardware, Storage & Peripherals7.9%—
- Pharmaceuticals4.2%—
- Broadline Retail3.8%—
- Integrated Oil & Gas3.5%—
- Copper3.4%—
- Diversified Banks3.3%—
- Other holdings42.8%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
10 of 10 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $NVDA | NVIDIA Corporation | 207K | $36M | +1.92K | 16.6% |
| $TPL | Texas Pacific Land Corporation | 59.6K | $28.3M | -5.1K | 13.0% |
| $AAPL | Apple Inc | 67.2K | $17M | -853 | 7.9% |
| $AMZN | Amazon.com Inc | 39.7K | $8.27M | -310 | 3.8% |
| $XOM | ExxonMobil Holdings Corporation | 44.4K | $7.53M | -2.23K | 3.5% |
| $FCX | Freeport-McMoRan Inc | 125K | $7.33M | -7.97K | 3.4% |
| $OKE | ONEOK Inc | 71.6K | $6.47M | -1.99K | 3.0% |
| $BA | Boeing Company | 32.4K | $6.46M | +745 | 3.0% |
| $CAT | Caterpillar Inc | 8.65K | $6.13M | -1.04K | 2.8% |
| $UBER | Uber Technologies Inc | 77.2K | $5.55M | -2.2K | 2.6% |
…and 65 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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