SEC 13F Intelligence

Managers / Q1 2019 · view latest →

First Dallas Securities Inc.

CIK 0001378559 · 2905 MAPLE AVE., DALLAS, TX, 75201 · 214-954-1177

Reported Value
$139M
Q1 2019
Positions
92
Filings on Record
29
2019–present window
Filed
May 17, 2019
original filing

Summary

First Dallas Securities Inc. reported $139M in U.S.-listed holdings across 92 positions for Q1 2019.

Its largest position, TPLUSD, represents 12.2% of the portfolio.

Compared with Q4 2018, the fund opened 6 new positions and exited 12.

Portfolio Metrics

Turnover
+5.0%
vs prior filed quarter
Top-10 Concentration
+46.3%
share of reported value
Largest Position
+12.2%
Texas Pac Ld Tr Sub Ctf Prop I
New / Exited
6 / 12
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $120MQ4 ’18Q1 ’19: $139MQ2 ’19: $114MQ3 ’19: $113MQ4 ’19: $117MQ4 ’19Q1 ’20: $72MQ3 ’20: $89MQ4 ’20: $111MQ1 ’21: $118MQ1 ’21Q2 ’21: $153MQ3 ’21: $145MQ4 ’21: $152MQ1 ’22: $177MQ1 ’22Q2 ’22: $148MQ3 ’22: $146MQ1 ’23: $169,518Q2 ’23: $179,257Q2 ’23Q3 ’23: $436,721Q4 ’23: $194,086Q1 ’24: $217,394Q3 ’24: $239MQ3 ’24Q4 ’24: $245MQ1 ’25: $239MQ2 ’25: $253MQ3 ’25: $267MQ3 ’25Q4 ’25: $269MQ1 ’26: $270Mfilingsflow.com

Portfolio Composition

By security type
Other: 48.8%Common Stock: 38.5%Royalty Trst: 12.2%ADR: 0.5%
  • Other · 48.8% · $68M
  • Common Stock · 38.5% · $53M
  • Royalty Trst · 12.2% · $17M
  • ADR · 0.5% · $695,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2018 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
URIUnited Rentals IncNEW+3.9K3.9K+$443,000$443,000
SLBSchlumberger LtdNEW+8.6K8.6K+$373,000$373,000
SJMSmucker J M CoNEW+3.1K3.1K+$357,000$357,000
American Eagle Outfitters NewNEW+10.1K10.1K+$223,000$223,000
WHRWhirlpool CorpNEW+1.6K1.6K+$216,000$216,000
LMTLockheed Martin CorpNEW+675675+$203,000$203,000
Merck & Co IncADDED+21.9K30.0K+$2M$2M
CVSCVS Health CorpADDED+9.4K16.6K+$422,000$894,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2019

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1TPLUSDTexas Pac Ld Tr Sub Ctf Prop Ihistory →COM12.21%$17M21.9K
2Hodges FundMTF10.29%$14M379.1K
3BABoeing Cohistory →COM4.82%$7M17.6K
4CMCCommercial Metals Cohistory →COM3.74%$5M304.7K
5Hodges Blue Chip Equity IncomeMTF3.21%$4M282.0K
6IPInternational Paper Cohistory →COM2.90%$4M87.1K
7JNJJohnson & Johnsonhistory →COM2.63%$4M26.2K
8Ryman Hospitality Properties IRET2.25%$3M38.0K
9Enlink Midstream LLC Unit RepLTP2.21%$3M240.1K
10GEO Group IncRET2.05%$3M148.4K
11Xcel Energy IncCOM2.04%$3M50.5K
12Eagle Materials IncCOM2.02%$3M33.3K
13OKEOneok Inchistory →COM1.99%$3M39.7K
14Exxon Mobil CorpCOM1.96%$3M33.8K
15BACBank America Corphistory →COM1.94%$3M97.9K
16US Concrete IncCOM1.80%$3M60.5K
17Merck & Co IncCOM1.79%$2M30.0K
18AT&T IncCOM1.77%$2M78.4K
19LUVSouthwest Airlines Cohistory →COM1.76%$2M47.1K
20Verizon Communications IncCOM1.71%$2M40.1K
21Triumph Bancorp IncCOM1.52%$2M72.1K
22American Airlines Group IncCOM1.45%$2M63.3K
23ATOAtmos Energy Corphistory →COM1.38%$2M18.6K
24USX1United States Steel Corphistory →COM1.32%$2M94.4K
25Cisco Systems IncCOM1.16%$2M29.9K
26AbbVie IncCOM1.11%$2M19.2K
27INTCIntel Corphistory →COM1.06%$1M27.4K
28Duke Energy CorpCOM1.05%$1M16.3K
29Cinemark Holdings IncCOM1.02%$1M35.5K
30HPHelmerich & Payne IncCOM0.99%$1M24.8K
31WMTWal-Mart Stores IncCOM0.93%$1M13.2K
32Hodges Small-Mid Cap FundMTF0.92%$1M110.4K
33HDHome Depot IncCOM0.88%$1M6.4K
34FedEx CorpCOM0.80%$1M6.1K
35General Motors CoCOM0.75%$1M28.0K
36Hodges Small Cap FundMTF0.74%$1M56.6K
37DALDelta Air Lines IncCOM0.73%$1M19.7K
38MTDRMatador Resources CoCOM0.70%$972,00050.3K
39JPMorgan Chase & CoCOM0.67%$937,0009.3K
40CVSCVS Health CorpCOM0.64%$894,00016.6K
41CATCaterpillar IncCOM0.55%$763,0005.6K
42SOSouthern CoCOM0.53%$737,00014.3K
43Blackstone Group LPLTP0.53%$733,00021.0K
44PGProcter And Gamble CoCOM0.52%$719,0006.9K
45AEEAmeren CorpCOM0.51%$714,0009.7K
46MSFTMicrosoft CorpCOM0.49%$679,0005.8K
47MUMicron Technology IncCOM0.47%$653,00015.8K
48BSXBoston Scientific CorpCOM0.45%$631,00016.4K
49Legacy TX Financial Group IncCOM0.43%$592,00015.8K
50TRVCCitigroup IncCOM0.42%$581,0009.3K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$270M118Apr 27, 202613F-HRchanges · EDGAR ↗
Q4 2025$269M107Feb 11, 202613F-HRchanges · EDGAR ↗
Q3 2025$267M113Nov 5, 202513F-HRchanges · EDGAR ↗
Q2 2025$253M123Aug 7, 202513F-HRchanges · EDGAR ↗
Q1 2025$239M113May 16, 202513F-HRchanges · EDGAR ↗
Q4 2024$245M112Jan 24, 202513F-HRchanges · EDGAR ↗
Q3 2024$239M119Nov 18, 202413F-HRchanges · EDGAR ↗
Q2 2024Under review117Aug 2, 202413F-HRchanges · EDGAR ↗
Q1 2024$217,394118Apr 16, 202413F-HRchanges · EDGAR ↗
Q4 2023$194,086122Feb 13, 202413F-HRchanges · EDGAR ↗
Q3 2023$436,721137Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$179,257123Aug 7, 202313F-HRchanges · EDGAR ↗
Q1 2023$169,518120May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022Under review116Feb 3, 202313F-HRchanges · EDGAR ↗
Q3 2022$146M114Oct 21, 202213F-HRchanges · EDGAR ↗
Q2 2022$148M112Jul 28, 202213F-HRchanges · EDGAR ↗
Q1 2022$177M121May 12, 202213F-HRchanges · EDGAR ↗
Q4 2021$152M117Feb 7, 202213F-HRchanges · EDGAR ↗
Q3 2021$145M119Oct 6, 202113F-HRchanges · EDGAR ↗
Q2 2021$153M114Jul 6, 202113F-HRchanges · EDGAR ↗
Q1 2021$118M105May 26, 202113F-HRchanges · EDGAR ↗
Q4 2020$111M98Feb 1, 202113F-HRchanges · EDGAR ↗
Q3 2020$89M83Oct 15, 202013F-HRchanges · EDGAR ↗
Q1 2020$72M72May 4, 202013F-HRchanges · EDGAR ↗
Q4 2019$117M84Feb 4, 202013F-HRchanges · EDGAR ↗
Q3 2019$113M85Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$114M85Aug 22, 201913F-HRchanges · EDGAR ↗
Q1 2019$139M92May 17, 201913F-HRchanges · EDGAR ↗
Q4 2018$120M98Feb 11, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.