SANDERS MORRIS HARRIS LLC

Q4 2025 13F-HR Holdings

Location
Houston, TX
Holdings as of
12/31/2025
Date filed
1/8/2026
Form type
13F-HR
Num holdings
35
Total value ($000)
$64,719
Net value change ($000)
-693,463 (-91.5%)
New positions
5
Sold out positions
272
Turnover %
847.7%
Sector allocation + QoQ delta (equities-only)
Prev filing: 10/7/2025 Next filing: 4/9/2026 SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
BABA 2,890 NEW
VOXR 1,107 18.4%
GDX 867 NEW
VOLATILITY SHS TR 745 NEW
AKRE 357 NEW
NVT 208 NEW
IAU 69 17.3%
ARM 62 18.1%
PAC 53 14.9%
OMAB 31 8.5%
Top Reduces (Value $000, Stocks/ETFs)
QQQ -115,506 -75.6%
BX -91,131 -100.0%
NVDA -34,863 -100.0%
CSWC -29,918 -100.0%
AAPL -28,994 -100.0%
SPY -25,838 -98.4%
EPD -22,102 -100.0%
MSIF -14,949 -100.0%
MAIN -12,962 -100.0%
CTAS -10,103 -100.0%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type