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TECTONIC ADVISORS LLC

17 COWBOYS WAY STE 250, FRISCO, TX 75034 • 713-250-4200

Q4 2025 · Filed 2026-01-23
Market Value
$1.9B
+3.7%
Holdings
338
-19
New Purchases
11
Added To
211
Closed
22
Reduced
69
Top 10 Concentration
41.8%
Turnover
9.8%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VOO 7.24% 6.88% +0.36% $137M
DELL 0.30% 0.00% +0.30% $6M
FHN 0.23% 0.00% +0.23% $4M
VEA 2.56% 2.35% +0.21% $48M
IVV 4.85% 4.64% +0.21% $92M
CIEN 0.60% 0.42% +0.18% $11M
MRK 0.71% 0.58% +0.14% $13M
OZK 0.16% 0.04% +0.12% $3M
CWEN-A 0.82% 0.70% +0.11% $15M
HVT 0.11% 0.00% +0.11% $2M
VNQ 1.01% 0.92% +0.09% $19M
BWB 0.08% 0.00% +0.08% $2M
CSCO 0.80% 0.72% +0.08% $15M
CTRN 0.10% 0.03% +0.07% $2M
FLXR 1.36% 1.29% +0.07% $26M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BOND 7.82% 8.07% -0.25% $148M
TOTL 5.23% 5.38% -0.15% $99M
NGG 0.00% 0.14% -0.14% $0
GQGU 3.68% 3.81% -0.13% $69M
SHEL 0.00% 0.12% -0.12% $0
IRM 0.72% 0.83% -0.12% $14M
BANF 0.00% 0.11% -0.11% $0
FANG 0.13% 0.24% -0.11% $3M
USFR 0.59% 0.70% -0.11% $11M
MLPA 0.66% 0.76% -0.11% $12M
ACWX 0.00% 0.10% -0.10% $0
ETD 0.00% 0.10% -0.10% $0
AMLP 0.67% 0.77% -0.10% $13M
AZO 0.42% 0.53% -0.10% $8M
STKL 0.00% 0.09% -0.09% $0

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 64.4%
Energy 5.5%
Technology 4.7%
Industrials 4.4%
Consumer Cyclical 4.2%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 46 $506M 26.8%
Large Cap 187 $696M 36.9%
Mid Cap 67 $439M 23.3%
Small Cap 27 $75M 4.0%
Micro Cap 11 $171M 9.1%

Portfolio Analytics

Avg Market Cap
$175.9B
Median Market Cap
$25.1B
Avg P/E
32.0
Median P/E
21.8
Avg Dividend Yield
0.02%
Avg Beta
0.88
# Stocks
268
# ETFs / Funds
70

Top Holdings (338 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 BOND 7.82% 1,586,589 $148M $93.08 $740K +12,520 +0.8%
2 VOO 7.24% 217,890 $137M $627.13 $11M +13,431 +6.6%
3 TOTL 5.23% 2,452,051 $99M $40.25 $754K +37,919 +1.6%
4 IVV 4.85% 133,621 $92M $684.94 $7M +7,332 +5.8%
5 SPLG 4.04% 951,414 $76M $80.22 $2M +4,731 +0.5%
6 GQGU 3.68% 2,827,015 $69M $24.55 $16K +78,990 +2.9%
7 VEA 2.56% 773,024 $48M $62.47 $6M +59,256 +8.3%
8 BND 2.31% 589,590 $44M $74.07 -$38K +1,866 +0.3%
9 TLCI 2.17% 1,567,963 $41M $26.08 $649K +48,271 +3.2%
10 AGG 1.89% 357,427 $36M $99.88 $301K +4,327 +1.2%
11 PCLG 1.79% 1,368,164 $34M $24.75 -$385K
12 BIL 1.64% 338,888 $31M $91.38 -$156K -333 -0.1%
13 FLXR 1.36% 646,449 $26M $39.60 $2M +57,702 +9.8%
14 VO 1.28% 83,368 $24M $290.22 $1M +5,433 +7.0%
15 EPD 1.19% 699,510 $22M $32.06 $1M +20,741 +3.1%
16 ABEQ 1.19% 625,137 $22M $35.85 -$635K -13,626 -2.1%
17 VB 1.08% 79,357 $20M $257.95 $2M +4,863 +6.5%
18 VNQ 1.01% 215,313 $19M $88.49 $2M +31,224 +17.0%
19 IBM 0.85% 53,983 $16M $296.21 $954K +694 +1.3%
20 ENB 0.83% 326,189 $16M $47.83 -$182K +13,385 +4.3%
21 CWEN-A 0.82% 491,384 $15M $31.42 $3M +15,685 +3.3%
22 OKE 0.80% 206,282 $15M $73.50 $1M +17,440 +9.2%
23 CSCO 0.80% 195,824 $15M $77.03 $2M +4,722 +2.5%
24 IEFA 0.77% 161,486 $14M $89.46 $1M +9,250 +6.1%
25 VWO 0.76% 268,449 $14M $53.76 $1M +21,622 +8.8%
26 HTGC 0.76% 759,746 $14M $18.82 $1M +70,235 +10.2%
27 IRM 0.72% 162,777 $14M $82.95 -$2M +14,402 +9.7%
28 MRK 0.71% 128,208 $13M $105.26 $3M +3,258 +2.6%
29 MPLX 0.71% 252,688 $13M $53.37 $1M +10,963 +4.5%
30 VZ 0.71% 330,959 $13M $40.73 $964K +46,178 +16.2%
31 IAGG 0.71% 269,308 $13M $50.01 $645K +19,000 +7.6%
32 TSLX 0.71% 617,476 $13M $21.72 $634K +58,538 +10.5%
33 ARCC 0.71% 662,533 $13M $20.23 $1M +64,491 +10.8%
34 NNN 0.71% 337,044 $13M $39.63 $286K +30,002 +9.8%
35 BWX 0.70% 584,925 $13M $22.53 $714K +43,000 +7.9%
36 USRT 0.69% 229,606 $13M $56.96 $2M +34,300 +17.6%
37 OBDC 0.69% 1,043,827 $13M $12.43 $1M +119,798 +13.0%
38 T 0.68% 518,422 $13M $24.84 -$483K +45,327 +9.6%
39 HAS 0.67% 154,850 $13M $82.00 $1M +6,780 +4.6%
40 ABBV 0.67% 55,343 $13M $228.49 $284K +1,955 +3.7%
41 AMLP 0.67% 268,336 $13M $47.02 -$1M -30,649 -10.2%
42 AVGO 0.66% 36,204 $13M $346.10 $831K +743 +2.1%
43 MO 0.66% 215,202 $12M $57.66 -$696K +16,822 +8.5%
44 MLPA 0.66% 256,164 $12M $48.41 -$1M -30,500 -10.6%
45 CRH.L 0.65% 98,092 $12M $124.80 -$682K -9,701 -9.0%
46 ET 0.63% 726,693 $12M $16.49 $468K +55,624 +8.3%
47 GILD 0.63% 97,332 $12M $122.74 $2M +3,650 +3.9%
48 CIEN 0.60% 48,749 $11M $233.87 $4M -3,765 -7.2%
49 WPC 0.59% 174,498 $11M $64.36 $215K +11,467 +7.0%
50 USFR 0.59% 222,282 $11M $50.32 -$2M -31,094 -12.3%
51 O 0.59% 195,921 $11M $56.37 $29K +14,727 +8.1%
52 SGI 0.58% 123,107 $11M $89.28 $656K +548 +0.5%
53 IJH 0.58% 164,469 $11M $66.00 $781K +10,102 +6.5%
54 CLH 0.57% 45,522 $11M $234.48 $226K +531 +1.2%
55 IJR 0.55% 85,621 $10M $120.18 $734K +5,200 +6.5%
56 KO 0.54% 146,794 $10M $69.91 $1M +9,852 +7.2%
57 VICI 0.54% 364,050 $10M $28.12 -$319K +40,332 +12.5%
58 ED 0.54% 102,746 $10M $99.32 $621K +7,401 +7.8%
59 DUK 0.53% 85,469 $10M $117.21 $233K +6,400 +8.1%
60 PEP 0.53% 69,384 $10M $143.52 $808K +4,231 +6.5%
61 LKQ 0.53% 328,636 $10M $30.20 $131K +7,949 +2.5%
62 PG 0.50% 66,505 $10M $143.31 $256K +6,144 +10.2%
63 PFE 0.49% 375,178 $9M $24.90 $464K +26,754 +7.7%
64 MSM 0.49% 109,675 $9M $84.10 -$79K +8,708 +8.6%
65 PAYX 0.47% 79,708 $9M $112.18 $334K +11,805 +17.4%
66 HRB 0.46% 197,473 $9M $43.58 $21K +27,720 +16.3%
67 AZO 0.42% 2,362 $8M $3,391.50 -$2M +130 +5.8%
68 KEX 0.42% 72,328 $8M $110.18 -$1M -35,605 -33.0%
69 HQY 0.38% 77,525 $7M $91.61 -$189K +594 +0.8%
70 PNFP 0.34% 67,664 $6M $95.41 $189K +846 +1.3%
71 WES 0.31% 149,413 $6M $39.50 $148K +2,956 +2.0%
72 DELL 0.30% 44,643 $6M $125.88 +44,643 NEW
73 MAS 0.30% 88,381 $6M $63.46 -$421K +2,716 +3.2%
74 AAPL 0.30% 20,626 $6M $271.86 $239K -457 -2.2%
75 MSFT 0.26% 10,124 $5M $483.60 -$321K +52 +0.5%
76 EDV 0.25% 73,793 $5M $65.01 $256K +7,446 +11.2%
77 BC 0.24% 62,104 $5M $74.24 $715K +497 +0.8%
78 FHN 0.23% 185,068 $4M $23.90 +185,068 NEW
79 PGR 0.22% 18,534 $4M $227.72 -$203K +622 +3.5%
80 LLY 0.18% 3,188 $3M $1,074.57 $994K
81 BANC 0.17% 170,749 $3M $19.29 $1M +51,656 +43.4%
82 KNX 0.17% 62,892 $3M $52.28 $699K -2,633 -4.0%
83 ASO 0.17% 63,029 $3M $49.96 $884K +17,741 +39.2%
84 VSS 0.16% 21,531 $3M $143.33 $279K +1,841 +9.3%
85 IWS 0.16% 21,720 $3M $141.05 $222K +1,375 +6.8%
86 OZK 0.16% 64,882 $3M $46.02 $2M +49,716 +327.8%
87 AMH 0.15% 89,696 $3M $32.10 -$57K +1,390 +1.6%
88 AMAT 0.14% 10,428 $3M $256.99 $292K -1,235 -10.6%
89 BRK-B 0.14% 5,290 $3M $502.65 -$130K -258 -4.7%
90 GPOR 0.14% 12,324 $3M $207.99 $958K +3,452 +38.9%
91 FANG 0.13% 16,849 $3M $150.33 -$2M -14,051 -45.5%
92 KLAC 0.13% 2,073 $3M $1,215.22 $11K -252 -10.8%
93 IIIV 0.13% 96,985 $2M $25.19 -$440K +8,166 +9.2%
94 FLR 0.13% 60,990 $2M $39.63 -$149K
95 GOOGL 0.13% 7,717 $2M $313.01 $114K -1,750 -18.5%
96 TRV 0.13% 8,270 $2M $290.06 $90K +3 +0.0%
97 GOOG 0.13% 7,611 $2M $313.81 $535K +2 +0.0%
98 EXP 0.13% 11,529 $2M $206.67 $234K +2,309 +25.0%
99 ADBE 0.12% 6,642 $2M $349.99 $357K +1,063 +19.1%
100 META 0.12% 3,393 $2M $660.08 -$79K +236 +7.5%

New Positions

SymbolValue% Port
DELL $6M 0.30%
FHN $4M 0.23%
HVT $2M 0.11%
BWB $2M 0.08%
MYE $961K 0.05%
SHOO $729K 0.04%
BRBR $619K 0.03%
KEYS $532K 0.03%
MNDY $259K 0.01%
VBK $229K 0.01%
RSP $217K 0.01%

Sold Out Positions

SymbolValue% Port
ETD —%
UBER —%
WY —%
AVTR —%
TECK —%
SHEL —%
UL —%
TYL —%
MMM —%
CCJ —%
HTH —%
NGG —%
RHP —%
SNN —%
BANF —%
View SEC EDGAR Filings for TECTONIC ADVISORS LLC →

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