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HOWARD FINANCIAL SERVICES, LTD.

8350 MEADOW ROAD SUITE 181, DALLAS, TX 75231 • 214-346-0785

Q4 2025 · Filed 2026-01-12
Market Value
$851M
+4.8%
Holdings
212
+16
New Purchases
21
Added To
119
Closed
13
Reduced
43
Top 10 Concentration
51.3%
Turnover
16.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
JPST 1.04% 0.39% +0.65% $9M
SCHG 2.49% 2.06% +0.42% $21M
VPLS 0.34% 0.07% +0.28% $3M
BIL 0.45% 0.21% +0.25% $4M
IGSB 0.23% 0.09% +0.13% $2M
GOOGL 0.40% 0.27% +0.13% $3M
GPIX 0.12% 0.00% +0.12% $979K
GE 0.16% 0.05% +0.10% $1M
PTRB 3.62% 3.52% +0.10% $31M
NUV 0.10% 0.00% +0.10% $816K
RDVY 1.99% 1.90% +0.09% $17M
FNDF 2.08% 2.00% +0.08% $18M
MPLX 0.28% 0.21% +0.07% $2M
GOOG 0.20% 0.13% +0.06% $2M
GEV 0.12% 0.06% +0.06% $1M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
SCHD 6.30% 6.69% -0.39% $54M
SPGP 4.49% 4.83% -0.34% $38M
RSP 4.31% 4.59% -0.27% $37M
FIXD 0.32% 0.57% -0.25% $3M
QUAL 11.85% 12.10% -0.25% $101M
SJNK 2.50% 2.74% -0.24% $21M
SSB 0.00% 0.20% -0.20% $0
CALF 1.10% 1.29% -0.19% $9M
JEPI 0.00% 0.15% -0.15% $0
SBR 0.55% 0.66% -0.12% $5M
GTO 4.13% 4.24% -0.11% $35M
TOTL 2.49% 2.59% -0.11% $21M
NVDA 1.72% 1.80% -0.09% $15M
HTRB 3.72% 3.80% -0.08% $32M
DGRW 3.67% 3.74% -0.07% $31M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 81.5%
Technology 8.7%
Energy 3.5%
Consumer Cyclical 1.7%
Communication Services 1.1%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 55 $160M 18.8%
Large Cap 103 $424M 49.8%
Mid Cap 28 $218M 25.6%
Small Cap 16 $48M 5.6%
Micro Cap 10 $1M 0.2%

Portfolio Analytics

Avg Market Cap
$299.1B
Median Market Cap
$70.3B
Avg P/E
32.9
Median P/E
23.5
Avg Dividend Yield
0.02%
Avg Beta
0.93
# Stocks
127
# ETFs / Funds
85

Top Holdings (212 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 QUAL 11.85% 507,751 $101M $198.62 $3M +2,581 +0.5%
2 SCHD 6.30% 1,955,537 $54M $27.43 -$693K -34,712 -1.7%
3 VIG 5.06% 195,818 $43M $219.78 $2M +7,141 +3.8%
4 SPGP 4.49% 335,500 $38M $113.86 -$992K -9,443 -2.7%
5 RSP 4.31% 191,639 $37M $191.56 -$547K -4,763 -2.4%
6 AAPL 4.16% 130,295 $35M $271.86 $2M -1,958 -1.5%
7 GTO 4.13% 741,142 $35M $47.42 $704K +16,215 +2.2%
8 HTRB 3.72% 926,744 $32M $34.15 $820K +27,704 +3.1%
9 DGRW 3.67% 349,177 $31M $89.43 $816K +7,327 +2.1%
10 PTRB 3.62% 732,998 $31M $42.04 $2M +55,578 +8.2%
11 SJNK 2.50% 839,936 $21M $25.32 -$954K -28,064 -3.2%
12 TOTL 2.49% 526,120 $21M $40.25 $103K +6,690 +1.3%
13 SCHG 2.49% 648,561 $21M $32.62 $4M +123,705 +23.6%
14 IQLT 2.39% 447,563 $20M $45.45 $888K +7,340 +1.7%
15 ANGL 2.12% 615,543 $18M $29.37 $614K +28,212 +4.8%
16 FNDF 2.08% 391,467 $18M $45.21 $1M +12,793 +3.4%
17 RDVY 1.99% 243,410 $17M $69.47 $2M +14,444 +6.3%
18 SPY 1.97% 24,546 $17M $681.93 $835K +673 +2.8%
19 VIGI 1.87% 174,488 $16M $91.45 $792K +5,178 +3.1%
20 NVDA 1.72% 78,296 $15M $186.50 -$47K -219 -0.3%
21 XSOE 1.41% 306,566 $12M $39.02 $519K +4,963 +1.6%
22 MSFT 1.30% 22,905 $11M $483.63 -$90K +1,345 +6.2%
23 QQQ 1.26% 17,413 $11M $614.32 $258K +26 +0.1%
24 CALF 1.10% 210,377 $9M $44.37 -$1M -28,208 -11.8%
25 JPST 1.04% 174,653 $9M $50.59 $6M +111,780 +177.8%
26 MOAT 1.03% 84,591 $9M $103.56 $353K -234 -0.3%
27 BRK-B 0.87% 14,677 $7M $502.65 $184K +369 +2.6%
28 AMZN 0.80% 29,460 $7M $230.82 $770K +1,996 +7.3%
29 FPE 0.77% 360,571 $7M $18.22 -$132K -6,828 -1.9%
30 AVGO 0.62% 15,274 $5M $346.10 $284K +112 +0.7%
31 SBR 0.55% 68,012 $5M $68.57 -$734K +72 +0.1%
32 IVV 0.53% 6,585 $5M $684.92 $134K +46 +0.7%
33 VTI 0.47% 11,949 $4M $335.27 $426K +1,040 +9.5%
34 BIL 0.45% 42,092 $4M $91.38 $2M +23,809 +130.2%
35 EPD 0.45% 119,376 $4M $32.06 $155K +1,933 +1.6%
36 RODM 0.41% 93,710 $3M $36.98 $168K +904 +1.0%
37 CMG 0.41% 93,320 $3M $37.00 -$204K +10 +0.0%
38 GOOGL 0.40% 10,843 $3M $313.01 $1M +1,917 +21.5%
39 ET 0.36% 188,175 $3M $16.49 -$115K +623 +0.3%
40 VPLS 0.34% 37,210 $3M $78.12 $2M +30,483 +453.1%
41 BSV 0.33% 35,779 $3M $78.81 -$177K -2,203 -5.8%
42 TSLA 0.33% 6,202 $3M $449.72 $240K +470 +8.2%
43 FIXD 0.32% 62,065 $3M $44.32 -$2M -42,571 -40.7%
44 SCHE 0.32% 81,886 $3M $32.75 -$19K +963 +1.2%
45 SCHF 0.29% 101,712 $2M $24.04 $95K +759 +0.8%
46 XOM 0.29% 20,303 $2M $120.34 $234K +711 +3.6%
47 PLTR 0.29% 13,665 $2M $177.75 -$26K +209 +1.6%
48 MPLX 0.28% 44,734 $2M $53.37 $697K +10,890 +32.2%
49 PEP 0.26% 15,648 $2M $143.52 $22K -190 -1.2%
50 JPM 0.24% 6,241 $2M $322.21 $75K +103 +1.7%
51 IGSB 0.23% 36,524 $2M $52.88 $1M +22,351 +157.7%
52 SCHW 0.20% 17,434 $2M $99.91 $210K +1,389 +8.7%
53 IEFA 0.20% 19,379 $2M $89.46 $29K -143 -0.7%
54 GOOG 0.20% 5,334 $2M $313.78 $592K +893 +20.1%
55 TSM 0.19% 5,193 $2M $303.89 $157K +105 +2.1%
56 MA 0.18% 2,639 $2M $570.91 $64K +102 +4.0%
57 IBM 0.16% 4,590 $1M $296.18 $113K +173 +3.9%
58 GE 0.16% 4,323 $1M $308.03 $908K +2,916 +207.2%
59 WMT 0.15% 11,125 $1M $111.41 $204K +1,081 +10.8%
60 BSM 0.14% 92,064 $1M $13.29 $14K -15 -0.0%
61 VNOM 0.14% 31,666 $1M $38.63 $291K +7,286 +29.9%
62 TPL 0.14% 4,053 $1M $287.22 -$96K +2,703 +200.2%
63 FNDA 0.14% 36,912 $1M $31.51 $16K +93 +0.2%
64 META 0.14% 1,747 $1M $659.99 $85K +292 +20.1%
65 DMLP 0.13% 50,961 $1M $22.36 $151K +12,763 +33.4%
66 TQQQ 0.13% 20,250 $1M $52.72 $21K +10,125 +100.0%
67 GEV 0.12% 1,570 $1M $653.75 $533K +768 +95.8%
68 SPDW 0.12% 22,431 $996K $44.41 $36K
69 NFLX 0.12% 10,580 $992K $93.76 -$242K +9,551 +928.2%
70 LLY 0.12% 915 $983K $1,074.67 $484K +260 +39.7%
71 GPIX 0.12% 18,550 $979K $52.80 +18,550 NEW
72 LUV 0.11% 22,726 $939K $41.33 $218K +125 +0.6%
73 JNJ 0.11% 4,515 $934K $206.95 $179K +444 +10.9%
74 GHC 0.11% 841 $924K $1,098.14 -$64K +2 +0.2%
75 OKE 0.11% 12,555 $923K $73.50 -$64K -975 -7.2%
76 GLD 0.11% 2,287 $906K $396.31 $87K -19 -0.8%
77 CRWD 0.10% 1,884 $883K $468.76 -$22K +39 +2.1%
78 MRK 0.10% 7,807 $822K $105.26 $225K +700 +9.8%
79 CSCO 0.10% 10,661 $821K $77.03 $203K +1,619 +17.9%
80 NUV 0.10% 90,060 $816K $9.06 +90,060 NEW
81 COST 0.09% 930 $802K $862.69 -$73K -16 -1.7%
82 PM 0.09% 4,998 $802K $160.41 $26K +217 +4.5%
83 IEMG 0.09% 11,705 $787K $67.22 $14K -15 -0.1%
84 AGNCZ 0.09% 72,721 $780K $10.72 $86K +1,825 +2.6%
85 BRK-A 0.09% 1 $755K $754,800.00 $600
86 BKNG 0.09% 140 $750K $5,355.33 $5K +2 +1.4%
87 ABBV 0.09% 3,245 $742K $228.51 $38K +207 +6.8%
88 JEPQ 0.08% 12,393 $720K $58.12 $10K +40 +0.3%
89 ESGU 0.08% 4,765 $710K $148.98 $17K +9 +0.2%
90 JBI 0.08% 104,926 $686K $6.54 -$349K
91 CVX 0.08% 4,380 $668K $152.42 -$72K -380 -8.0%
92 NOC 0.08% 1,143 $651K $569.97 -$35K +16 +1.4%
93 V 0.08% 1,851 $649K $350.67 $132K +336 +22.2%
94 MS 0.07% 3,579 $635K $177.55 $76K +58 +1.6%
95 AMGN 0.07% 1,936 $634K $327.27 $119K +112 +6.1%
96 HD 0.07% 1,831 $630K $344.16 -$88K +58 +3.3%
97 VOO 0.07% 984 $617K $627.04 $5K -15 -1.5%
98 MU 0.07% 2,119 $605K $285.48 $290K +238 +12.7%
99 IJH 0.07% 8,974 $592K $66.00 $8K +22 +0.2%
100 IVW 0.07% 4,733 $583K $123.25 $13K +4 +0.1%

New Positions

SymbolValue% Port
GPIX $979K 0.12%
NUV $816K 0.10%
AGG $441K 0.05%
AMD $311K 0.04%
PRU $299K 0.04%
EOG $293K 0.03%
COF $284K 0.03%
GIL $269K 0.03%
PFE $269K 0.03%
MCD $232K 0.03%
CRCL $229K 0.03%
DIS $225K 0.03%
CME $224K 0.03%
GRAL $220K 0.03%
TRV $217K 0.03%

Sold Out Positions

SymbolValue% Port
SHV —%
VST —%
ETN —%
NOG —%
SSB —%
MSTR —%
TZA —%
UVIX —%
ULTY —%
JEPI —%
PMN —%
2H2.F —%
HBI —%
View SEC EDGAR Filings for HOWARD FINANCIAL SERVICES, LTD. →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms