HOWARD FINANCIAL SERVICES, LTD.

Q4 2025 13F-HR Holdings

Location
Dallas, TX
Holdings as of
12/31/2025
Date filed
1/12/2026
Form type
13F-HR
Num holdings
205
Total value ($000)
$855,145
Net value change ($000)
+37,803 (4.6%)
New positions
21
Sold out positions
14
Turnover %
1.4%
Sector allocation + QoQ delta (equities-only)
Prev filing: 10/23/2025 Next filing: 4/7/2026 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)
JPST 5,646 177.0%
SCHG 4,408 26.3%
QUAL 2,594 2.6%
VPLS 2,378 449.5%
VIG 2,322 5.7%
PTRB 2,228 7.8%
BIL 2,169 129.3%
AAPL 1,746 5.2%
RDVY 1,510 9.8%
FNDF 1,430 8.8%
Top Reduces (Value $000, Stocks/ETFs)
FIXD -1,897 -40.8%
SSB -1,597 -100.0%
JEPI -1,185 -100.0%
CALF -1,111 -10.6%
SPGP -992 -2.5%
SJNK -954 -4.3%
VNOM Sub, Inc. -932 -100.0%
SBR -734 -13.6%
SCHD -694 -1.3%
RSP -547 -1.5%
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