PENN DAVIS MCFARLAND INC
Long book
$1.02B
Q1 2026
Positions
75
Top-10 weight
54%
concentration
Last quarter
+10.8%
SPY +14.8%
Turnover
8%
of book per quarter
Strategy in plain words
auto-generated from filingsPENN DAVIS MCFARLAND INC is a diversified fundamental manager, running a $1.02B US long book across 75 positions.
The portfolio is concentrated: the top 10 names carry 54% of the portfolio. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: ALPHABET INC-CL C, NVIDIA CORP, KINDER MORGAN INC, SHELL PLC-ADR, APPLE INC.
Over the last 9 quarters its long book ran on average 0pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+4.4%
Q2 2024
+6.7%
Q3 2024
+2.2%
Q4 2024
-4.5%
Q1 2025
+4.9%
Q2 2025
+9.3%
Q3 2025
+6.5%
Q4 2025
+0.0%
Q1 2026
+10.8%
Sector allocation
Technology 41%
Utilities 13%
Healthcare 11%
Industrials 10%
Services media 6%
Financials 5%
Consumer discretionary 4%
Energy 4%
Long book by quarter
What does PENN DAVIS own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| GOOG ALPHABET INC-CL C | Technology | 431.2K | $123.7M | 12.1% | -6.6% |
| NVDA NVIDIA CORP | Technology | 498.3K | $86.9M | 8.5% | -0.3% |
| KMI KINDER MORGAN INC | Utilities | 1.7M | $57.3M | 5.6% | -1.0% |
| AAPL APPLE INC | Technology | 179.4K | $45.5M | 4.5% | -1.3% |
| EPD ENTERPRISE PRODUCTS PARTNERS | Utilities | 1.2M | $44.5M | 4.4% | -0.4% |
| ROIV ROIVANT SCIENCES LTD | Healthcare | 1.6M | $44.1M | 4.3% | -14.3% |
| UNH UNITEDHEALTH GROUP INC | Financials | 136.3K | $36.9M | 3.6% | -0.7% |
| RTX RTX CORP | Industrials | 186.6K | $36.0M | 3.5% | -3.3% |
| LMT LOCKHEED MARTIN CORP | Industrials | 55.5K | $33.6M | 3.3% | -0.4% |
| GOOGL ALPHABET INC-CL A | Technology | 109.5K | $31.5M | 3.1% | -36.4% |
| PYPL PAYPAL HOLDINGS INC | Services media | 677.4K | $30.6M | 3.0% | -0.5% |
| BSM BLACK STONE MINERALS LP | Energy | 2.0M | $29.6M | 2.9% | -0.4% |
| CRM SALESFORCE INC | Technology | 155.3K | $29.0M | 2.8% | New |
| QCOM QUALCOMM INC | Technology | 189.2K | $24.4M | 2.4% | -0.5% |
| LVS LAS VEGAS SANDS CORP | Services media | 401.4K | $21.6M | 2.1% | -0.9% |
| BMY BRISTOL-MYERS SQUIBB CO | Healthcare | 336.3K | $20.4M | 2.0% | -0.6% |
| CPW CHECK POINT SOFTWARE TECH | — | 122.1K | $17.4M | 1.7% | -0.3% |
| SFM SPROUTS FARMERS MARKET INC | Consumer discretionary | 223.3K | $17.2M | 1.7% | -0.2% |
| MTCH MATCH GROUP INC | Technology | 524.8K | $16.1M | 1.6% | -0.1% |
| WM WASTE MANAGEMENT INC | Utilities | 56.6K | $13.0M | 1.3% | -0.3% |
| XYL XYLEM INC | Industrials | 95.7K | $11.4M | 1.1% | -0.4% |
| MSFT MICROSOFT CORP | Technology | 28.4K | $10.5M | 1.0% | -0.2% |
| TGT TARGET CORP | Consumer discretionary | 84.6K | $10.3M | 1.0% | -0.1% |
| JNJ JOHNSON & JOHNSON | Healthcare | 41.3K | $10.1M | 1.0% | -0.2% |
| KMB KIMBERLY-CLARK CORP | Other | 87.1K | $8.4M | 0.8% | -0.1% |
| TXN TEXAS INSTRUMENTS INC | Technology | 41.6K | $8.1M | 0.8% | Held |
| VZ VERIZON COMMUNICATIONS INC | Communications | 133.3K | $6.7M | 0.7% | -0.2% |
| ABBV ABBVIE INC | Healthcare | 30.5K | $6.6M | 0.6% | Held |
| AMGN AMGEN INC | Healthcare | 18.8K | $6.6M | 0.6% | -0.3% |
| MCD MCDONALD'S CORP | Consumer discretionary | 21.0K | $6.5M | 0.6% | -0.1% |
| KO COCA-COLA CO/THE | Consumer staples | 82.5K | $6.3M | 0.6% | -0.1% |
| UPS UNITED PARCEL SERVICE-CL B | Industrials | 57.1K | $5.6M | 0.5% | -0.2% |
| ACN ACCENTURE PLC-CL A | Services media | 25.7K | $5.1M | 0.5% | -0.4% |
| PFE PFIZER INC | Healthcare | 170.4K | $4.8M | 0.5% | -0.6% |
| PEP PEPSICO INC | Consumer staples | 29.1K | $4.5M | 0.4% | -0.1% |
| MTD METTLER-TOLEDO INTERNATIONAL | Healthcare | 3.2K | $4.1M | 0.4% | -0.2% |
| PG PROCTER & GAMBLE CO/THE | Other | 26.4K | $3.8M | 0.4% | Held |
| NKE NIKE INC -CL B | Other | 61.9K | $3.3M | 0.3% | -0.2% |
| ABT ABBOTT LABORATORIES | Healthcare | 31.2K | $3.2M | 0.3% | Held |
| AXP AMERICAN EXPRESS CO | Financials | 10.5K | $3.2M | 0.3% | -0.3% |
| SBUX STARBUCKS CORP | Consumer discretionary | 29.3K | $2.6M | 0.3% | -0.2% |
| HON HONEYWELL INTERNATIONAL INC | Industrials | 11.5K | $2.6M | 0.3% | -0.1% |
| SIRI SIRIUS XM HOLDINGS INC | Communications | 109.3K | $2.5M | 0.2% | -19.8% |
| LLY ELI LILLY & CO | Healthcare | 2.7K | $2.5M | 0.2% | -2.0% |
| AMZN AMAZON.COM INC | Consumer discretionary | 11.4K | $2.4M | 0.2% | -2.6% |
| USPH U.S. PHYSICAL THERAPY INC | Healthcare | 29.7K | $2.2M | 0.2% | -0.3% |
| MTDR MATADOR RESOURCES CO | Energy | 30.0K | $1.9M | 0.2% | Held |
| CSCO CISCO SYSTEMS INC | Technology | 19.9K | $1.5M | 0.2% | Held |
| FCFS FIRSTCASH HOLDINGS INC | Consumer discretionary | 7.2K | $1.4M | 0.1% | Held |
| XOM EXXON MOBIL CORP | Energy | 6.9K | $1.2M | 0.1% | -16.9% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 21, 2026 | 75 | $1.02B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 16, 2026 | 75 | $1.04B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 21, 2025 | 76 | $967.6M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 15, 2025 | 76 | $887.9M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 23, 2025 | 75 | $845.4M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 16, 2025 | 81 | $918.8M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 18, 2024 | 77 | $889.1M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 19, 2024 | 45 | $647.2M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 25, 2024 | 47 | $644.7M | canonical | SEC ↗ |
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