# EDGAR Filing Document

**Accession Number:** 0001378559
**File Stem:** 0001378559-26-000004
**Filing Date:** 2026-4
**Character Count:** 14813
**Document Hash:** 740a1b4ba8ff20b9da04f04a2f086e59
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001378559-26-000004.hdr.sgml**: 20260427

**ACCESSION NUMBER**: 0001378559-26-000004

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260427

**DATE AS OF CHANGE**: 20260427

**EFFECTIVENESS DATE**: 20260427

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** First Dallas Securities Inc.
- **CENTRAL INDEX KEY:** 0001378559

**ORGANIZATION NAME:**
- **EIN:** 752278917
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-12035
- **FILM NUMBER:** 26899902

**BUSINESS ADDRESS:**
- **STREET 1:** 2905 MAPLE AVE.
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201
- **BUSINESS PHONE:** 214-954-1177

**MAIL ADDRESS:**
- **STREET 1:** 2905 MAPLE AVE.
- **CITY:** DALLAS
- **STATE:** TX
- **ZIP:** 75201

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** First Dallas Securities Inc.<br>**Address:** 2905 MAPLE AVE.<br>DALLAS, TX 75201

**Form 13F File Number:** 028-12035

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** charmagne darabadey<br>**Title:** Chief Compliance officer<br>**Phone:** 2146659103

**Signature, Place, and Date of Signing:**

charmagne darabadey  dallas, TX  04-27-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 118

**Form 13F Information Table Value Total:** $270316150

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 3M Co | COM | 88579Y101 |  | 640607 | 4411 | SH |  | SOLE |  | 0 | 0 | 4411 |
| Abbvie Inc | COM | 00287Y109 |  | 875860 | 4027 | SH |  | SOLE |  | 0 | 0 | 4027 |
| Alphabet Inc Cap Stock Cl C | COM | 02079K107 |  | 2125633 | 7410 | SH |  | SOLE |  | 0 | 0 | 7410 |
| Amazon.Com Inc | COM | 023135106 |  | 8267486 | 39696 | SH |  | SOLE |  | 0 | 0 | 39696 |
| Ameren Corp | COM | 023608102 |  | 573342 | 5216 | SH |  | SOLE |  | 0 | 0 | 5216 |
| American Electric Power Co Inc | COM | 025537101 |  | 1437792 | 10969 | SH |  | SOLE |  | 0 | 0 | 10969 |
| American Express Co | COM | 025816109 |  | 1343012 | 4440 | SH |  | SOLE |  | 0 | 0 | 4440 |
| Amgen Inc | COM | 031162100 |  | 1461306 | 4153 | SH |  | SOLE |  | 0 | 0 | 4153 |
| Apple Inc | COM | 037833100 |  | 17047397 | 67171 | SH |  | SOLE |  | 0 | 0 | 67171 |
| Applied Materials Inc | COM | 038222105 |  | 1426973 | 4175 | SH |  | SOLE |  | 0 | 0 | 4175 |
| Arcosa Inc | COM | 039653100 |  | 1053439 | 9925 | SH |  | SOLE |  | 0 | 0 | 9925 |
| At Inc | COM | 00206R102 |  | 2188876 | 75505 | SH |  | SOLE |  | 0 | 0 | 75505 |
| Atmos Energy Corp | COM | 049560105 |  | 824184 | 4462 | SH |  | SOLE |  | 0 | 0 | 4462 |
| Banc Of California Inc | COM | 05990K106 |  | 1238950 | 70475 | SH |  | SOLE |  | 0 | 0 | 70475 |
| Bank Of America Corp | COM | 060505104 |  | 1671288 | 34283 | SH |  | SOLE |  | 0 | 0 | 34283 |
| Berkshire Hathaway Inc Cl A | COM | 084670108 |  | 718140 | 1 | SH |  | SOLE |  | 0 | 0 | 1 |
| Berkshire Hathaway Inc Cl B Ne | COM | 084670702 |  | 623918 | 1302 | SH |  | SOLE |  | 0 | 0 | 1302 |
| Blackstone Inc | COM | 09260D107 |  | 748585 | 6510 | SH |  | SOLE |  | 0 | 0 | 6510 |
| Boeing Co | COM | 097023105 |  | 6455940 | 32437 | SH |  | SOLE |  | 0 | 0 | 32437 |
| Brinker Intl Inc | COM | 109641100 |  | 426882 | 2990 | SH |  | SOLE |  | 0 | 0 | 2990 |
| Broadcom Inc | COM | 11135F101 |  | 1465530 | 4735 | SH |  | SOLE |  | 0 | 0 | 4735 |
| Capital Southwest Corp | COM | 140501107 |  | 1983960 | 89691 | SH |  | SOLE |  | 0 | 0 | 89691 |
| Carpenter Technology Corp | COM | 144285103 |  | 1202157 | 3050 | SH |  | SOLE |  | 0 | 0 | 3050 |
| Caterpillar Inc | COM | 149123101 |  | 6129531 | 8652 | SH |  | SOLE |  | 0 | 0 | 8652 |
| Charles Schwab Corp | COM | 808513105 |  | 925648 | 9849 | SH |  | SOLE |  | 0 | 0 | 9849 |
| Chevron Corp | COM | 166764100 |  | 264625 | 1279 | SH |  | SOLE |  | 0 | 0 | 1279 |
| Circle Internet Group Inc Cl A | COM | 172573107 |  | 291000 | 3050 | SH |  | SOLE |  | 0 | 0 | 3050 |
| Citigroup Inc New | COM | 172967424 |  | 3405686 | 30030 | SH |  | SOLE |  | 0 | 0 | 30030 |
| Clear Secure Inc Cl A | COM | 18467V109 |  | 321926 | 6650 | SH |  | SOLE |  | 0 | 0 | 6650 |
| Cleveland-Cliffs Inc | COM | 185899101 |  | 2037292 | 241100 | SH |  | SOLE |  | 0 | 0 | 241100 |
| Coca-Cola Co | COM | 191216100 |  | 753387 | 9906 | SH |  | SOLE |  | 0 | 0 | 9906 |
| Commercial Metals Co | COM | 201723103 |  | 1379738 | 22460 | SH |  | SOLE |  | 0 | 0 | 22460 |
| Conocophillips | COM | 20825C104 |  | 309981 | 2348 | SH |  | SOLE |  | 0 | 0 | 2348 |
| Corecivic Inc | COM | 21871N101 |  | 520025 | 27500 | SH |  | SOLE |  | 0 | 0 | 27500 |
| Costco Wholesale Corp | COM | 22160K105 |  | 2547739 | 2557 | SH |  | SOLE |  | 0 | 0 | 2557 |
| Cullen Frost Bankers Inc | COM | 229899109 |  | 449348 | 3278 | SH |  | SOLE |  | 0 | 0 | 3278 |
| Dell Technologies Inc Cl C | COM | 24703L202 |  | 571172 | 3480 | SH |  | SOLE |  | 0 | 0 | 3480 |
| Draftkings Inc  Cl A | COM | 26142V105 |  | 2086114 | 96490 | SH |  | SOLE |  | 0 | 0 | 96490 |
| Duke Energy Corp New | COM | 26441C204 |  | 1155854 | 8827 | SH |  | SOLE |  | 0 | 0 | 8827 |
| Eagle Materials Inc | COM | 26969P108 |  | 3116266 | 16449 | SH |  | SOLE |  | 0 | 0 | 16449 |
| Eaton Corp Plc | COM | G29183103 |  | 268252 | 750 | SH |  | SOLE |  | 0 | 0 | 750 |
| Eli Lilly  Co | COM | 532457108 |  | 4959619 | 5392 | SH |  | SOLE |  | 0 | 0 | 5392 |
| Ethan Allen Interiors Inc | COM | 297602104 |  | 1325028 | 59525 | SH |  | SOLE |  | 0 | 0 | 59525 |
| Expand Energy Corporation | COM | 165167735 |  | 3404686 | 31014 | SH |  | SOLE |  | 0 | 0 | 31014 |
| Exxon Mobile Corp | COM | 30231G102 |  | 7531291 | 44390 | SH |  | SOLE |  | 0 | 0 | 44390 |
| Fedex Corp | COM | 31428X106 |  | 1107720 | 3110 | SH |  | SOLE |  | 0 | 0 | 3110 |
| First Watch Restaurant Group I | COM | 33748L101 |  | 1747540 | 166750 | SH |  | SOLE |  | 0 | 0 | 166750 |
| Freeport-Mcmoran Inc Cl B | COM | 35671D857 |  | 7328860 | 124683 | SH |  | SOLE |  | 0 | 0 | 124683 |
| Ge Aerospace | COM | 369604301 |  | 251704 | 887 | SH |  | SOLE |  | 0 | 0 | 887 |
| Generac Holdings Inc | COM | 368736104 |  | 224629 | 1150 | SH |  | SOLE |  | 0 | 0 | 1150 |
| Genius Sports Ltd Npv | COM | G3934V109 |  | 192705 | 43500 | SH |  | SOLE |  | 0 | 0 | 43500 |
| Geo Group Inc | COM | 36162J106 |  | 1153502 | 68620 | SH |  | SOLE |  | 0 | 0 | 68620 |
| Gildan Activewear Inc | COM | 375916103 |  | 534240 | 9600 | SH |  | SOLE |  | 0 | 0 | 9600 |
| Goldman Sachs Group Inc | COM | 38141G104 |  | 1057487 | 1250 | SH |  | SOLE |  | 0 | 0 | 1250 |
| Healthcare Realty Trust Cl A | COM | 42226K105 |  | 652501 | 38405 | SH |  | SOLE |  | 0 | 0 | 38405 |
| Hewlett Packard Enterprise Co | COM | 42824C109 |  | 593497 | 24926 | SH |  | SOLE |  | 0 | 0 | 24926 |
| Home Depot Inc | COM | 437076102 |  | 3943154 | 11989 | SH |  | SOLE |  | 0 | 0 | 11989 |
| Honeywell Intl Inc | COM | 438516106 |  | 531170 | 2350 | SH |  | SOLE |  | 0 | 0 | 2350 |
| Intl Business Machines | COM | 459200101 |  | 1291939 | 5330 | SH |  | SOLE |  | 0 | 0 | 5330 |
| Intuitive Surgical Inc New | COM | 46120E602 |  | 207445 | 450 | SH |  | SOLE |  | 0 | 0 | 450 |
| Ipg Photonics Corp | COM | 44980X109 |  | 382731 | 3340 | SH |  | SOLE |  | 0 | 0 | 3340 |
| Johnson  Johnson | COM | 478160104 |  | 4049739 | 16567 | SH |  | SOLE |  | 0 | 0 | 16567 |
| Jpmorgan Chase  Co | COM | 46625H100 |  | 3888252 | 13218 | SH |  | SOLE |  | 0 | 0 | 13218 |
| Kirby Corp | COM | 497266106 |  | 1702857 | 12815 | SH |  | SOLE |  | 0 | 0 | 12815 |
| Lockheed Martin Corp | COM | 539830109 |  | 347524 | 575 | SH |  | SOLE |  | 0 | 0 | 575 |
| Mastec Inc | COM | 576323109 |  | 2413050 | 7500 | SH |  | SOLE |  | 0 | 0 | 7500 |
| Matador Resources Co | COM | 576485205 |  | 648709 | 10268 | SH |  | SOLE |  | 0 | 0 | 10268 |
| Mcdonalds Corp | COM | 580135101 |  | 368286 | 1185 | SH |  | SOLE |  | 0 | 0 | 1185 |
| Merck  Co Inc | COM | 58933Y105 |  | 1290701 | 10730 | SH |  | SOLE |  | 0 | 0 | 10730 |
| Meta Platforms Inc Cl A | COM | 30303M102 |  | 4653177 | 8133 | SH |  | SOLE |  | 0 | 0 | 8133 |
| Micron Technology Inc | COM | 595112103 |  | 2684139 | 7945 | SH |  | SOLE |  | 0 | 0 | 7945 |
| Microsoft Corp | COM | 594918104 |  | 3950275 | 10672 | SH |  | SOLE |  | 0 | 0 | 10672 |
| Millrose Properties Inc Cl A | COM | 601137102 |  | 3047642 | 108844 | SH |  | SOLE |  | 0 | 0 | 108844 |
| Morgan Stanley | COM | 617446448 |  | 833053 | 5062 | SH |  | SOLE |  | 0 | 0 | 5062 |
| Navigator Holdings Ltd | COM | Y62132108 |  | 266754 | 13800 | SH |  | SOLE |  | 0 | 0 | 13800 |
| Netflix Inc | COM | 64110L106 |  | 1099764 | 11438 | SH |  | SOLE |  | 0 | 0 | 11438 |
| Nvidia Corporation | COM | 67066G104 |  | 36033580 | 206615 | SH |  | SOLE |  | 0 | 0 | 206615 |
| On Holding Ag Namen Akt A | COM | H5919C104 |  | 632772 | 18600 | SH |  | SOLE |  | 0 | 0 | 18600 |
| Ondas Inc | COM | 68236H204 |  | 221480 | 24500 | SH |  | SOLE |  | 0 | 0 | 24500 |
| Oneok Inc | COM | 682680103 |  | 6473655 | 71619 | SH |  | SOLE |  | 0 | 0 | 71619 |
| Oracle Corp | COM | 68389X105 |  | 308931 | 2100 | SH |  | SOLE |  | 0 | 0 | 2100 |
| Palantir Technologies Inc Cl A | COM | 69608A108 |  | 1023082 | 6994 | SH |  | SOLE |  | 0 | 0 | 6994 |
| Palo Alto Networks Inc | COM | 697435105 |  | 498595 | 3110 | SH |  | SOLE |  | 0 | 0 | 3110 |
| Pepsico Inc | COM | 713448108 |  | 331502 | 2135 | SH |  | SOLE |  | 0 | 0 | 2135 |
| Permian Resources Corp Class A | COM | 71424F105 |  | 1448694 | 67950 | SH |  | SOLE |  | 0 | 0 | 67950 |
| Powell Industries Inc | COM | 739128106 |  | 1704772 | 3151 | SH |  | SOLE |  | 0 | 0 | 3151 |
| Powerfleet Inc | COM | 73931J109 |  | 143066 | 46450 | SH |  | SOLE |  | 0 | 0 | 46450 |
| Rh | COM | 74967X103 |  | 398487 | 2850 | SH |  | SOLE |  | 0 | 0 | 2850 |
| Rtx Corporation | COM | 75513E101 |  | 638305 | 3309 | SH |  | SOLE |  | 0 | 0 | 3309 |
| Ryman Hospitality Properties I | COM | 78377T107 |  | 3313953 | 35916 | SH |  | SOLE |  | 0 | 0 | 35916 |
| Sharkninja Inc | COM | G8068L108 |  | 3755214 | 35460 | SH |  | SOLE |  | 0 | 0 | 35460 |
| Simon Property Group Inc | COM | 828806109 |  | 578243 | 3100 | SH |  | SOLE |  | 0 | 0 | 3100 |
| Sophia Genetics Sa Ordinary Sh | COM | H82027105 |  | 49500 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| Southern Co | COM | 842587107 |  | 553542 | 5735 | SH |  | SOLE |  | 0 | 0 | 5735 |
| Southwest Airlines Co | COM | 844741108 |  | 600173 | 15975 | SH |  | SOLE |  | 0 | 0 | 15975 |
| Stitch Fix Inc Cl A | COM | 860897107 |  | 38065 | 11500 | SH |  | SOLE |  | 0 | 0 | 11500 |
| Terawulf Inc | COM | 88080T104 |  | 2218612 | 153750 | SH |  | SOLE |  | 0 | 0 | 153750 |
| Tesla Inc | COM | 88160R101 |  | 923799 | 2485 | SH |  | SOLE |  | 0 | 0 | 2485 |
| Texas Instruments Inc | COM | 882508104 |  | 313141 | 1613 | SH |  | SOLE |  | 0 | 0 | 1613 |
| Texas Pacific Land Corporation | COM | 88262P102 |  | 28262385 | 59555 | SH |  | SOLE |  | 0 | 0 | 59555 |
| Truist Financial Corp | COM | 89832Q109 |  | 673881 | 14659 | SH |  | SOLE |  | 0 | 0 | 14659 |
| Twilio Inc Cl A | COM | 90138F102 |  | 226476 | 1800 | SH |  | SOLE |  | 0 | 0 | 1800 |
| Uber Technologies Inc | COM | 90353T100 |  | 5554075 | 77215 | SH |  | SOLE |  | 0 | 0 | 77215 |
| United Parcel Service Inc Cl B | COM | 911312106 |  | 2935110 | 29834 | SH |  | SOLE |  | 0 | 0 | 29834 |
| United Rentals Inc | COM | 911363109 |  | 218568 | 300 | SH |  | SOLE |  | 0 | 0 | 300 |
| Unitedhealth Group Inc | COM | 91324P102 |  | 230001 | 850 | SH |  | SOLE |  | 0 | 0 | 850 |
| Vail Resorts Inc | COM | 91879Q109 |  | 827664 | 6450 | SH |  | SOLE |  | 0 | 0 | 6450 |
| Verizon Communications Inc | COM | 92343V104 |  | 1245692 | 24815 | SH |  | SOLE |  | 0 | 0 | 24815 |
| Vertiv Holdings Co Cl A | COM | 92537N108 |  | 335844 | 1340 | SH |  | SOLE |  | 0 | 0 | 1340 |
| Viking Holdings Ltd | COM | G93A5A101 |  | 914826 | 12450 | SH |  | SOLE |  | 0 | 0 | 12450 |
| Vistra Corp | COM | 92840M102 |  | 641909 | 4270 | SH |  | SOLE |  | 0 | 0 | 4270 |
| Wal-Mart Inc | COM | 931142103 |  | 3470701 | 27926 | SH |  | SOLE |  | 0 | 0 | 27926 |
| Wells Fargo Co | COM | 949746101 |  | 1591358 | 19989 | SH |  | SOLE |  | 0 | 0 | 19989 |
| Whirlpool Corp | COM | 963320106 |  | 2971660 | 55112 | SH |  | SOLE |  | 0 | 0 | 55112 |
| Xcel Energy Inc Com | COM | 98389B100 |  | 1846201 | 23240 | SH |  | SOLE |  | 0 | 0 | 23240 |
| Taiwan Semiconductor Mfg Ltd S | ADR | 874039100 |  | 2458829 | 7276 | SH |  | SOLE |  | 0 | 0 | 7276 |
| Frontview Reit Inc COM | COM | 35922N100 |  | 1484346 | 95950 | SH |  | SOLE |  | 0 | 0 | 95950 |
| Outfront Media Inc New | COM | 69007J304 |  | 225250 | 8500 | SH |  | SOLE |  | 0 | 0 | 8500 |

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