Hodges Capital Management Inc.

DALLAS, TX · CIK 1337263 · 13F filing filed 2023-08-07

SEC-registered investment adviser since 1990 · corporation

Assets managed$1.2bn
Staff20 · 10 in investment roles
Main clients (by assets)Mutual funds and ETFs 41%, High net worth individuals 31%, Private funds 9%
Form ADV · 2025-10-31SEC adviser record

Legal entityHODGES CAPITAL MANAGEMENT INC. (US)

$188.7m reported value -84.5% vs Q1 2023

215positions

58.0%in top 10

22 new 97 added 96 reduced 21 sold out vs Q1 2023

Options: 5 call positions ($6.6k notional), 0 put positions (— notional) – listed below, not included above.

Holdings, Q2 2023

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	MICROSOFT CORP COM MSFT	MSFT	60,738	$23.5m12.43%	12.43%	Reduced -11.3k	-11,270 -15.7%
2	APPLE INC COM AAPL	AAPL	79,396	$18.0m9.51%	9.51%	Added +535	+535 0.7%
3	EXXON MOBIL CORP COM XOM	XOM	111,452	$14.1m7.49%	7.49%	Added +9.6k	+9,566 9.4%
4	ONEOK INC NEW COM OKE	OKE	141,093	$9.9m5.24%	5.24%	Added +18.3k	+18,341 14.9%
5	NOVO-NORDISK A S ADR NVO	NVO	45,654	$8.7m4.63%	4.63%	Added +4.3k	+4,259 10.3%
6	HOME DEPOT INC COM HD	HD	22,295	$7.9m4.21%	4.21%	Reduced -4.6k	-4,562 -17.0%
7	MERCK & CO INC COM MRK	MRK	49,508	$6.9m3.68%	3.68%	Added +11.0k	+10,956 28.4%
8	AMAZON COM INC COM AMZN	AMZN	45,048	$6.9m3.67%	3.67%	Added +5.2k	+5,212 13.1%
9	AIRBNB INC COM CL A ABNB	ABNB	45,303	$6.9m3.66%	3.66%	Added +20.7k	+20,739 84.4%
10	AMERICAN EXPRESS CO COM AXP	AXP	30,172	$6.6m3.48%	3.48%	Reduced -3.4k	-3,364 -10.0%
11	JPMORGAN CHASE & CO COM JPM	JPM	37,081	$6.6m3.47%	3.47%	Added +1.0k	+1,006 2.8%
12	ABBVIE INC COM ABBV	ABBV	34,707	$5.7m3.01%	3.01%	Reduced -6.5k	-6,520 -15.8%
13	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	42,178	$5.3m2.80%	2.80%	Added +16.5k	+16,459 64.0%
14	FEDEX CORP COM FDX	FDX	17,249	$5.0m2.67%	2.67%	Reduced -4.2k	-4,237 -19.7%
15	UNITED PARCEL SERVICE INC CL B UPS	UPS	22,499	$4.9m2.62%	2.62%	Added +305	+305 1.4%
16	AMGEN INC COM AMGN	AMGN	20,249	$4.7m2.51%	2.51%	Reduced -3.4k	-3,367 -14.3%
17	JOHNSON & JOHNSON COM JNJ	JNJ	26,812	$4.7m2.50%	2.50%	Reduced -3.6k	-3,628 -11.9%
18	LOWES COS INC COM LOW	LOW	16,150	$4.5m2.40%	2.40%	Reduced -586	-586 -3.5%
19	BANK AMERICA CORP COM BAC	BAC	121,081	$3.7m1.96%	1.96%	Reduced -2.5k	-2,452 -2.0%
20	AZEK CO INC CL A AZEK	AZEK	95,300	$3.6m1.88%	1.88%	Reduced -80.5k	-80,539 -45.8%
21	PALO ALTO NETWORKS INC COM PANW	PANW	11,254	$3.4m1.80%	1.80%	Reduced -481	-481 -4.1%
22	CONOCOPHILLIPS COM COP	COP	25,183	$3.2m1.69%	1.69%	Added +1.5k	+1,546 6.5%
23	AGCO CORP COM AGCO	AGCO	21,413	$3.0m1.60%	1.60%	Reduced -4.8k	-4,772 -18.2%
24	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	7,163	$2.8m1.48%	1.48%	Reduced -885	-885 -11.0%
25	WALMART INC COM WMT	WMT	16,226	$2.8m1.48%	1.48%	Reduced -920	-920 -5.4%
26	QUALCOMM INC COM QCOM	QCOM	18,539	$2.6m1.38%	1.38%	Reduced -15.8k	-15,805 -46.0%
27	MEDTRONIC PLC SHS MDT	MDT	25,034	$2.5m1.34%	1.34%	Added +1.8k	+1,810 7.8%
28	SPDR GOLD TR GOLD SHS GLD	GLD	9,220	$2.0m1.04%	1.04%	Added +646	+646 7.5%
29	TARGET CORP COM TGT	TGT	11,867	$1.9m1.00%	1.00%	Reduced -2.4k	-2,352 -16.5%
30	NORTHERN OIL & GAS INC COM NOG	NOG	44,385	$1.8m0.96%	0.96%	Added +6.4k	+6,416 16.9%
31	DELTA AIR LINES INC DEL COM NEW DAL	DAL	28,526	$1.6m0.86%	0.86%	Added +4.9k	+4,854 20.5%
32	CHEVRON CORP NEW COM CVX	CVX	7,410	$1.4m0.73%	0.73%	Added +166	+166 2.3%
33	EAGLE MATLS INC COM EXP	EXP	277,793	$72.0k0.04%	0.04%	Added +65.4k	+65,358 30.8%
34	ENCORE WIRE CORP COM WIRE	WIRE	265,105	$66.4k0.04%	0.04%	Added +91.5k	+91,482 52.7%
35	MATADOR RES CO COM MTDR	MTDR	851,977	$64.8k0.03%	0.03%	Added +356.3k	+356,323 71.9%
36	UBER TECHNOLOGIES INC COM UBER	UBER	873,739	$51.3k0.03%	0.03%	Added +278.9k	+278,923 46.9%
37	CLEVELAND-CLIFFS INC NEW COM CLF	CLF	2,070,360	$48.0k0.03%	0.03%	Added +779.8k	+779,800 60.4%
38	TEXAS PACIFIC LAND CORPORATI COM TPL	TPL	25,049	$43.8k0.02%	0.02%	Reduced -37.3k	-37,287 -59.8%
39	ON HLDG AG NAMEN AKT A ONON	ONON	838,893	$39.3k0.02%	0.02%	Added +162.8k	+162,850 24.1%
40	NORWEGIAN CRUISE LINE HLDG L SHS NCLH	NCLH	1,164,105	$36.6k0.02%	0.02%	Added +609.0k	+609,016 109.7%
41	TOPGOLF CALLAWAY BRANDS CORP COM CALY	CALY	1,187,345	$33.2k0.02%	0.02%	Added +778.4k	+778,393 190.3%
42	NVIDIA CORPORATION COM NVDA	NVDA	60,418	$32.3k0.02%	0.02%	Added +6.2k	+6,211 11.5%
43	TAYLOR MORRISON HOME CORP COM TMHC	TMHC	456,140	$31.0k0.02%	0.02%	Added +87.5k	+87,453 23.7%
44	FRONTIER GROUP HLDGS INC COM ULCC	ULCC	2,293,746	$30.8k0.02%	0.02%	Added +1.5m	+1,533,268 201.6%
45	ON SEMICONDUCTOR CORP COM ON	ON	231,299	$30.7k0.02%	0.02%	Added +75.6k	+75,608 48.6%
46	EXPAND ENERGY CORPORATION COM EXE	EXE	265,608	$30.1k0.02%	0.02%	Added +76.7k	+76,745 40.6%
47	COMMERCIAL METALS CO COM CMC	CMC	375,710	$27.0k0.01%	0.01%	Added +117.1k	+117,126 45.3%
48	CINEMARK HLDGS INC COM CNK	CNK	1,139,412	$27.0k0.01%	0.01%	Added +223.5k	+223,493 24.4%
49	SCHWAB CHARLES CORP COM SCHW	SCHW	344,291	$26.6k0.01%	0.01%	Added +157.8k	+157,849 84.7%
50	SHIFT4 PMTS INC CL A FOUR	FOUR	248,515	$24.9k0.01%	0.01%	New
51	HILLTOP HOLDINGS INC COM HTH	HTH	477,814	$21.1k0.01%	0.01%	Added +156.7k	+156,677 48.8%
52	SM ENERGY CO COM SM	SM	444,371	$21.0k0.01%	0.01%	Added +153.3k	+153,335 52.7%
53	KIMBALL ELECTRONICS INC COM KE	KE	532,751	$20.9k0.01%	0.01%	Added +249.9k	+249,878 88.3%
54	NCR VOYIX CORPORATION COM VYX	VYX	584,042	$20.8k0.01%	0.01%	Added +216.8k	+216,842 59.0%
55	FREEPORT-MCMORAN INC CL B FCX	FCX	396,630	$20.6k0.01%	0.01%	Added +123.8k	+123,809 45.4%
56	VISTA OUTDOOR INC COM VSTO	VSTO	511,571	$19.8k0.01%	0.01%	Reduced -41.3k	-41,336 -7.5%
57	ETHAN ALLEN INTERIORS INC COM ETD	ETD	501,465	$19.4k0.01%	0.01%	Added +159.0k	+158,992 46.4%
58	CULLEN FROST BANKERS INC COM CFR	CFR	122,507	$18.6k0.01%	0.01%	Added +46.3k	+46,287 60.7%
59	BUILDERS FIRSTSOURCE INC COM BLDR	BLDR	98,551	$18.1k0.01%	0.01%	Reduced -34.8k	-34,785 -26.1%
60	MICRON TECHNOLOGY INC COM MU	MU	211,626	$17.4k0.01%	0.01%	Added +50.2k	+50,202 31.1%
61	INMODE LTD SHS INMD	INMD	323,868	$17.1k0.01%	0.01%	Added +116.9k	+116,935 56.5%
62	DIODES INC COM DIOD	DIOD	126,823	$16.6k0.01%	0.01%	Added +36.2k	+36,160 39.9%
63	SUNOPTA INC COM STKL	STKL	1,786,602	$16.2k0.01%	0.01%	Added +807.9k	+807,936 82.5%
64	DRAFTKINGS INC NEW COM CL A DKNG	DKNG	421,349	$16.2k0.01%	0.01%	New
65	SHOE CARNIVAL INC COM SHOE	SHOE	478,375	$15.9k0.01%	0.01%	Added +206.1k	+206,125 75.7%
66	BAUSCH PLUS LOMB CORP COMMON SHARES BLCO	BLCO	527,991	$15.1k0.01%	0.01%	Added +241.2k	+241,152 84.1%
67	TOAST INC CL A TOST	TOST	423,794	$13.4k0.01%	0.01%	Added +11.1k	+11,095 2.7%
68	GROUP 1 AUTOMOTIVE INC COM GPI	GPI	33,687	$12.9k0.01%	0.01%	Added +7.6k	+7,643 29.4%
69	BRUNSWICK CORP COM BC	BC	107,406	$12.8k0.01%	0.01%	Added +25.3k	+25,329 30.9%
70	DISTRIBUTION SOLUTIONS GRP I COM DSGR	DSGR	164,391	$12.6k0.01%	0.01%	Added +66.4k	+66,360 67.7%
71	PERMIAN RESOURCES CORP CLASS A COM PR	PR	795,097	$12.6k0.01%	0.01%	Added +347.7k	+347,720 77.7%
72	UPLAND SOFTWARE INC COM COM		2,390,267	$12.3k0.01%	0.01%	Added +1.3m	+1,256,281 110.8%
73	U S PHYSICAL THERAPY COM USPH	USPH	67,950	$12.2k0.01%	0.01%	New
74	PROPETRO HLDG CORP COM PUMP	PUMP	1,014,537	$11.8k0.01%	0.01%	Added +569.3k	+569,265 127.8%
75	GENERAL MTRS CO COM GM	GM	243,248	$11.8k0.01%	0.01%	Reduced -68.5k	-68,478 -22.0%
76	GEO GROUP INC NEW COM GEO	GEO	1,141,299	$11.5k0.01%	0.01%	Added +414.1k	+414,118 57.0%
77	KIRBY CORP COM KEX	KEX	100,052	$11.4k0.01%	0.01%	Added +51.4k	+51,358 105.5%
78	SPROUTS FMRS MKT INC COM SFM	SFM	211,001	$11.1k0.01%	0.01%	Added +63.4k	+63,444 43.0%
79	RH COM RH	RH	22,338	$10.7k0.01%	0.01%	Added +2.6k	+2,606 13.2%
80	WYNN RESORTS LTD COM WYNN	WYNN	78,104	$10.7k0.01%	0.01%	Reduced -5.4k	-5,377 -6.4%
81	GRAPHIC PACKAGING HLDG CO COM GPK	GPK	295,290	$10.5k0.01%	0.01%	Added +116.6k	+116,597 65.2%
82	SOLO BRANDS INC COM CL A COM CL A		1,243,980	$10.2k0.01%	0.01%	Added +470.5k	+470,539 60.8%
83	ALASKA AIR GROUP INC COM ALK	ALK	120,180	$9.6k0.01%	0.01%	Added +55.0k	+55,048 84.5%
84	APPLOVIN CORP COM CL A APP	APP	244,110	$9.2k0.00%	0.00%	New
85	CORNING INC COM GLW	GLW	174,201	$9.1k0.00%	0.00%	Added +128.2k	+128,169 278.4%
86	TRIUMPH FINANCIAL INC COM TFIN	TFIN	110,200	$8.4k0.00%	0.00%	Added +21.1k	+21,144 23.7%
87	TESLA INC COM TSLA	TSLA	22,872	$7.6k0.00%	0.00%	Reduced -6.5k	-6,537 -22.2%
88	ACADEMY SPORTS & OUTDOORS IN COM ASO	ASO	93,638	$7.3k0.00%	0.00%	Added +33.0k	+32,963 54.3%
89	INDEPENDENT BANK GROUP INC COM IBTX	IBTX	146,391	$7.2k0.00%	0.00%	New
90	KNOWLES CORP COM KN	KN	263,355	$7.1k0.00%	0.00%	New
91	P10 INC COM CL A RPC	RPC	427,125	$6.9k0.00%	0.00%	Added +129.7k	+129,671 43.6%
92	TEXAS ROADHOUSE INC COM TXRH	TXRH	40,693	$6.8k0.00%	0.00%	Added +15.6k	+15,610 62.2%
93	LOVESAC COMPANY COM LOVE	LOVE	170,240	$6.8k0.00%	0.00%	Added +104.5k	+104,538 159.1%
94	BOEING CO COM BA	BA	18,438	$6.6k0.00%	0.00%	Reduced -1.9k	-1,948 -9.6%
95	BOYD GAMING CORP COM BYD	BYD	63,351	$6.5k0.00%	0.00%	Added +9.5k	+9,465 17.6%
96	PROSPERITY BANCSHARES INC COM PB	PB	75,498	$6.3k0.00%	0.00%	Added +4.9k	+4,861 6.9%
97	HOME BANCSHARES INC COM HOMB	HOMB	199,300	$6.1k0.00%	0.00%	Added +65.9k	+65,884 49.4%
98	GOOSEHEAD INS INC COM CL A GSHD	GSHD	64,122	$6.0k0.00%	0.00%	Added +8.8k	+8,819 15.9%
99	CHORD ENERGY CORPORATION COM NEW CHRD	CHRD	30,394	$6.0k0.00%	0.00%	Added +3.4k	+3,390 12.6%
100	COINBASE GLOBAL INC COM CL A COIN	COIN	55,500	$5.8k0.00%	0.00%	New

Sold out since Q1 2023

Security	Ticker	Shares held before	Value then
COHERENT CORP COHR	COHR	107,616	$7.6m107.6k shares
STAAR SURGICAL CO STAA	STAA	61,987	$6.7m62.0k shares
AVNET INC AVT	AVT	56,018	$4.6m56.0k shares
KULICKE & SOFFA INDS INC KLIC	KLIC	46,158	$4.3m46.2k shares
TAKEDA PHARMACEUTICAL CO LTD TAK	TAK	80,521	$2.5m80.5k shares
HORACE MANN EDUCATORS CORP N HMN	HMN	55,171	$2.4m55.2k shares
EUROPEAN WAX CTR INC EWCZ	EWCZ	90,089	$2.2m90.1k shares
FARMER BROS CO FARM	FARM	402,101	$2.1m402.1k shares
ORGANON & CO OGN	OGN	54,553	$1.7m54.6k shares
DZS INC DZSIQ	DZSIQ	78,719	$1.2m78.7k shares
SPIRIT AIRLS INC SAVE	SAVE	27,130	$880.0k27.1k shares
ADVANCED MICRO DEVICES INC AMD	AMD	8,732	$779.0k8.7k shares
SEA LTD SE	SE	8,013	$638.0k8.0k shares
WALGREENS BOOTS ALLIANCE INC WBA	WBA	9,518	$318.0k9.5k shares
NIKE INC NKE	NKE	2,811	$307.0k2.8k shares
DIREXION SHS ETF TR		35,270	$270.0k35.3k shares
PBF ENERGY INC PBF	PBF	5,846	$243.0k5.8k shares
RANGER OIL CORPORATION PVAC	PVAC	5,204	$204.0k5.2k shares
HERTZ GLOBAL HLDGS INC HTZ	HTZ	11,941	$191.0k11.9k shares
AMERICAN AIRLS GROUP INC AAL	AAL	11,670	$170.0k11.7k shares
COMSTOCK RES INC CRK	CRK	12,732	$136.0k12.7k shares

Options (notional value)

Underlying	Ticker	Type	Notional	Change
AIRBNB INC ABNB · Call	ABNB	Call	$3.3k0 shares	New
BOEING CO BA · Call	BA	Call	$1.4k0 shares	New
INTUITIVE SURGICAL INC ISRG · Call	ISRG	Call	$8800 shares	New
NOVO-NORDISK A S NVO · Call	NVO	Call	$7620 shares	Reduced
TESLA INC TSLA · Call	TSLA	Call	$2410 shares	New