Hodges Capital Management Inc.

DALLAS, TX · CIK 1337263 · 13F filing filed 2025-08-07

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)

$1.0bn reported value +4.6% vs Q1 2025

203positions

26.7%in top 10

27 new 56 added 109 reduced 26 sold out vs Q1 2025

Options: 6 call positions ($12.0m notional), 0 put positions (— notional) – listed below, not included above.

Holdings, Q2 2025

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	TEXAS PACIFIC LAND CORPORATI COM TPL	TPL	37,525	$39.6m3.85%	3.85%	Reduced -6.7k	-6,676 -15.1%
2	UBER TECHNOLOGIES INC COM UBER	UBER	366,523	$34.2m3.32%	3.32%	Reduced -11.6k	-11,648 -3.1%
3	NVIDIA CORPORATION COM NVDA	NVDA	214,563	$33.9m3.29%	3.29%	Reduced -15.9k	-15,914 -6.9%
4	SHARKNINJA INC COM SHS SN	SN	284,757	$28.2m2.73%	2.73%	Added +40.8k	+40,780 16.7%
5	MATADOR RES CO COM MTDR	MTDR	560,084	$26.7m2.59%	2.59%	Added +73.6k	+73,609 15.1%
6	MICROSOFT CORP COM MSFT	MSFT	52,248	$26.0m2.52%	2.52%	Reduced -597	-597 -1.1%
7	DRAFTKINGS INC NEW COM CL A DKNG	DKNG	569,764	$24.4m2.37%	2.37%	Added +29.1k	+29,122 5.4%
8	EAGLE MATLS INC COM EXP	EXP	106,565	$21.5m2.09%	2.09%	Reduced -5.7k	-5,711 -5.1%
9	KIRBY CORP COM KEX	KEX	177,618	$20.1m1.95%	1.95%	Added +7.7k	+7,734 4.5%
10	CLEVELAND-CLIFFS INC NEW COM CLF	CLF	2,643,976	$20.1m1.95%	1.95%	Added +572.5k	+572,509 27.6%
11	FREEPORT-MCMORAN INC CL B FCX	FCX	458,839	$19.9m1.93%	1.93%	Added +12.9k	+12,924 2.9%
12	PALANTIR TECHNOLOGIES INC CL A PLTR	PLTR	137,968	$18.8m1.82%	1.82%	Reduced -2.9k	-2,926 -2.1%
13	TERAWULF INC COM WULF	WULF	4,062,480	$17.8m1.73%	1.73%	Added +493.0k	+493,001 13.8%
14	ON HLDG AG NAMEN AKT A ONON	ONON	338,039	$17.6m1.71%	1.71%	Reduced -12.0k	-11,999 -3.4%
15	BANC OF CALIFORNIA INC COM BANC	BANC	1,156,448	$16.2m1.58%	1.58%	Reduced -115.4k	-115,352 -9.1%
16	AMAZON COM INC COM AMZN	AMZN	68,135	$14.9m1.45%	1.45%	Reduced -589	-589 -0.9%
17	EXPAND ENERGY CORPORATION COM EXE	EXE	121,394	$14.2m1.38%	1.38%	Added +5.3k	+5,319 4.6%
18	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	62,621	$14.2m1.38%	1.38%	Reduced -118	-118 -0.2%
19	MICRON TECHNOLOGY INC COM MU	MU	110,197	$13.6m1.32%	1.32%	Reduced -23.8k	-23,802 -17.8%
20	TAYLOR MORRISON HOME CORP COM TMHC	TMHC	203,513	$12.5m1.21%	1.21%	Reduced -22.2k	-22,231 -9.8%
21	COMMERCIAL METALS CO COM CMC	CMC	251,468	$12.3m1.19%	1.19%	Added +8.3k	+8,267 3.4%
22	ONEOK INC NEW COM OKE	OKE	146,768	$12.0m1.16%	1.16%	Reduced -395	-395 -0.3%
23	CARPENTER TECHNOLOGY CORP COM CRS	CRS	42,194	$11.7m1.13%	1.13%	Added +17.7k	+17,697 72.2%
24	APPLE INC COM AAPL	AAPL	56,613	$11.6m1.13%	1.13%	Reduced -3.9k	-3,870 -6.4%
25	TEXAS CAP BANCSHARES INC COM TCBI	TCBI	138,776	$11.0m1.07%	1.07%	Added +3.6k	+3,620 2.7%
26	HEWLETT PACKARD ENTERPRISE C COM HPE	HPE	533,852	$10.9m1.06%	1.06%	Reduced -8.2k	-8,170 -1.5%
27	TESLA INC COM TSLA	TSLA	34,056	$10.8m1.05%	1.05%	Added +30.9k	+30,878 971.6%
28	GEO GROUP INC NEW COM GEO	GEO	448,374	$10.7m1.04%	1.04%	Added +164.8k	+164,760 58.1%
29	JPMORGAN CHASE & CO COM JPM	JPM	36,218	$10.5m1.02%	1.02%	Reduced -269	-269 -0.7%
30	WALMART INC COM WMT	WMT	107,381	$10.5m1.02%	1.02%	Reduced -243	-243 -0.2%
31	ACADEMY SPORTS & OUTDOORS IN COM ASO	ASO	231,016	$10.4m1.00%	1.00%	Reduced -338	-338 -0.1%
32	ETHAN ALLEN INTERIORS INC COM ETD	ETD	369,443	$10.3m1.00%	1.00%	Reduced -10.3k	-10,310 -2.7%
33	RH COM RH	RH	53,974	$10.2m0.99%	0.99%	Added +37.8k	+37,798 233.7%
34	POWELL INDS INC COM POWL	POWL	48,330	$10.2m0.99%	0.99%	New
35	GENIUS SPORTS LIMITED SHARES CL A GENI	GENI	971,235	$10.1m0.98%	0.98%	Added +756.2k	+756,235 351.7%
36	CYBERARK SOFTWARE LTD SHS CYBR	CYBR	24,265	$9.9m0.96%	0.96%	Reduced -5.0k	-4,956 -17.0%
37	AVIAT NETWORKS INC COM NEW AVNW	AVNW	392,783	$9.4m0.92%	0.92%	Reduced -14.1k	-14,078 -3.5%
38	WYNN RESORTS LTD COM WYNN	WYNN	100,187	$9.4m0.91%	0.91%	Reduced -58.4k	-58,423 -36.8%
39	BOEING CO COM BA	BA	43,875	$9.2m0.89%	0.89%	Added +16.9k	+16,899 62.6%
40	META PLATFORMS INC CL A META	META	11,868	$8.8m0.85%	0.85%	Added +1.3k	+1,270 12.0%
41	HOME DEPOT INC COM HD	HD	23,692	$8.7m0.84%	0.84%	Added +336	+336 1.4%
42	ELI LILLY & CO COM LLY	LLY	10,835	$8.4m0.82%	0.82%	Added +664	+664 6.5%
43	SHOE CARNIVAL INC COM SHOE	SHOE	438,420	$8.2m0.80%	0.80%	Added +53.7k	+53,680 13.9%
44	PORTILLOS INC COM CL A PTLO	PTLO	702,637	$8.2m0.80%	0.80%	Reduced -126.7k	-126,655 -15.3%
45	GROUP 1 AUTOMOTIVE INC COM GPI	GPI	18,772	$8.2m0.80%	0.80%	Reduced -1.6k	-1,595 -7.8%
46	HALOZYME THERAPEUTICS INC COM HALO	HALO	152,156	$7.9m0.77%	0.77%	Reduced -41.4k	-41,409 -21.4%
47	MAXLINEAR INC COM MXL	MXL	527,761	$7.5m0.73%	0.73%	Added +385.3k	+385,311 270.5%
48	TOWER SEMICONDUCTOR LTD SHS NEW TSEM	TSEM	169,777	$7.4m0.71%	0.71%	Added +17.1k	+17,080 11.2%
49	WELLS FARGO CO NEW COM WFC	WFC	87,689	$7.0m0.68%	0.68%	Added +1.6k	+1,591 1.9%
50	EXXON MOBIL CORP COM XOM	XOM	64,522	$7.0m0.67%	0.67%	Reduced -21.3k	-21,299 -24.8%
51	PERMIAN RESOURCES CORP CLASS A COM PR	PR	505,716	$6.9m0.67%	0.67%	Reduced -52.3k	-52,276 -9.4%
52	HANOVER INS GROUP INC COM THG	THG	40,214	$6.8m0.66%	0.66%	Reduced -3.5k	-3,484 -8.0%
53	VISTRA CORP COM VST	VST	34,889	$6.8m0.66%	0.66%	Reduced -9.8k	-9,829 -22.0%
54	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	22,607	$6.7m0.65%	0.65%	Reduced -2.0k	-1,995 -8.1%
55	BROADCOM INC COM AVGO	AVGO	23,256	$6.4m0.62%	0.62%	Added +4.2k	+4,209 22.1%
56	HILLTOP HOLDINGS INC COM HTH	HTH	208,314	$6.3m0.61%	0.61%	Reduced -78.7k	-78,739 -27.4%
57	GULFPORT ENERGY CORP COMMON SHARES GPOR	GPOR	30,800	$6.2m0.60%	0.60%	Added +2.5k	+2,500 8.8%
58	CINEMARK HLDGS INC COM CNK	CNK	200,741	$6.1m0.59%	0.59%	Reduced -58.7k	-58,710 -22.6%
59	ABBVIE INC COM ABBV	ABBV	32,578	$6.0m0.59%	0.59%	Reduced -1.3k	-1,329 -3.9%
60	NAVIGATOR HLDGS LTD SHS NVGS	NVGS	421,886	$6.0m0.58%	0.58%	Added +47.4k	+47,391 12.7%
61	GOLDMAN SACHS GROUP INC COM GS	GS	8,280	$5.9m0.57%	0.57%	Reduced -397	-397 -4.6%
62	CITIGROUP INC COM NEW C	C	68,719	$5.8m0.57%	0.57%	Added +7.5k	+7,549 12.3%
63	PROSPERITY BANCSHARES INC COM PB	PB	81,975	$5.8m0.56%	0.56%	Added +2.1k	+2,112 2.6%
64	CATERPILLAR INC COM CAT	CAT	14,632	$5.7m0.55%	0.55%	Added +1.8k	+1,831 14.3%
65	HOME BANCSHARES INC COM HOMB	HOMB	195,800	$5.6m0.54%	0.54%	Reduced -9.3k	-9,300 -4.5%
66	STITCH FIX INC COM CL A SFIX	SFIX	1,447,651	$5.4m0.52%	0.52%	Reduced -88.3k	-88,262 -5.8%
67	CLEAR SECURE INC COM CL A YOU	YOU	191,550	$5.3m0.52%	0.52%	Added +26.5k	+26,549 16.1%
68	AMERICAN EXPRESS CO COM AXP	AXP	15,664	$5.0m0.48%	0.48%	Reduced -217	-217 -1.4%
69	BANCFIRST CORP COM BANF	BANF	38,200	$4.7m0.46%	0.46%	Added +1.0k	+1,000 2.7%
70	POWERFLEET INC COM AIOT	AIOT	1,079,898	$4.7m0.45%	0.45%	Reduced -119.2k	-119,179 -9.9%
71	MASTEC INC COM MTZ	MTZ	27,028	$4.6m0.45%	0.45%	Reduced -725	-725 -2.6%
72	INTUITIVE SURGICAL INC COM NEW ISRG	ISRG	8,392	$4.6m0.44%	0.44%	Unchanged
73	SUNOPTA INC COM STKL	STKL	753,250	$4.4m0.42%	0.42%	Reduced -456.3k	-456,316 -37.7%
74	TRIUMPH FINANCIAL INC COM TFIN	TFIN	76,600	$4.2m0.41%	0.41%	Reduced -700	-700 -0.9%
75	P10 INC COM CL A RPC	RPC	410,800	$4.2m0.41%	0.41%	Added +38.4k	+38,400 10.3%
76	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	8,628	$4.2m0.41%	0.41%	Unchanged
77	TUTOR PERINI CORP COM TPC	TPC	83,045	$3.9m0.38%	0.38%	New
78	MORGAN STANLEY COM NEW MS	MS	27,363	$3.9m0.37%	0.37%	Reduced -69	-69 -0.2%
79	BOYD GAMING CORP COM BYD	BYD	47,780	$3.7m0.36%	0.36%	Added +2.0k	+1,955 4.3%
80	TEXAS ROADHOUSE INC COM TXRH	TXRH	18,539	$3.5m0.34%	0.34%	Reduced -3.0k	-2,970 -13.8%
81	SPOTIFY TECHNOLOGY S A SHS SPOT	SPOT	4,511	$3.5m0.34%	0.34%	Added +393	+393 9.5%
82	LIFE360 INC COM LIF	LIF	52,773	$3.4m0.33%	0.33%	Reduced -39.3k	-39,308 -42.7%
83	OWENS CORNING NEW COM OC	OC	24,906	$3.4m0.33%	0.33%	Reduced -6.6k	-6,611 -21.0%
84	VISA INC COM CL A V	V	9,614	$3.4m0.33%	0.33%	Added +4.0k	+4,036 72.4%
85	KRATOS DEFENSE & SEC SOLUTIO COM NEW KTOS	KTOS	71,883	$3.3m0.32%	0.32%	Added +2.5k	+2,499 3.6%
86	COSTCO WHSL CORP NEW COM COST	COST	3,356	$3.3m0.32%	0.32%	Reduced -67	-67 -2.0%
87	PRIMORIS SVCS CORP COM PRIM	PRIM	42,600	$3.3m0.32%	0.32%	New
88	AMGEN INC COM AMGN	AMGN	11,750	$3.3m0.32%	0.32%	Reduced -2.4k	-2,392 -16.9%
89	HORACE MANN EDUCATORS CORP N COM HMN	HMN	75,464	$3.2m0.31%	0.31%	Added +3.6k	+3,638 5.1%
90	CRH PLC ORD CRH	CRH	35,320	$3.2m0.31%	0.31%	Reduced -14.3k	-14,335 -28.9%
91	KONTOOR BRANDS INC COM KTB	KTB	48,900	$3.2m0.31%	0.31%	Reduced -100	-100 -0.2%
92	3M CO COM MMM	MMM	20,979	$3.2m0.31%	0.31%	Reduced -991	-991 -4.5%
93	BUILDERS FIRSTSOURCE INC COM BLDR	BLDR	26,016	$3.0m0.29%	0.29%	Reduced -3.9k	-3,945 -13.2%
94	BELLRING BRANDS INC COMMON STOCK BRBR	BRBR	49,596	$2.9m0.28%	0.28%	Added +87	+87 0.2%
95	POTBELLY CORP COM PBPB	PBPB	227,111	$2.8m0.27%	0.27%	Reduced -10.3k	-10,274 -4.3%
96	STRATUS PPTYS INC COM NEW STRS	STRS	145,470	$2.7m0.27%	0.27%	Added +2.1k	+2,100 1.5%
97	AIRBNB INC COM CL A ABNB	ABNB	20,260	$2.7m0.26%	0.26%	Reduced -48.7k	-48,712 -70.6%
98	BLUE BIRD CORP COM BLBD	BLBD	60,555	$2.6m0.25%	0.25%	Reduced -3.1k	-3,060 -4.8%
99	VARONIS SYS INC COM VRNS	VRNS	51,330	$2.6m0.25%	0.25%	Reduced -10.0k	-10,045 -16.4%
100	ALKAMI TECHNOLOGY INC COM ALKT	ALKT	80,230	$2.4m0.23%	0.23%	Added +1.3k	+1,311 1.7%

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
ENERGY TRANSFER L P ET	ET	331,178	$6.2m331.2k shares
UNITEDHEALTH GROUP INC UNH	UNH	400	$5.0m400 shares
UNITED STATES STL CORP NEW X	X	100,000	$4.2m100.0k shares
GILEAD SCIENCES INC GILD	GILD	1,700	$3.8m1.7k shares
GRAPHIC PACKAGING HLDG CO GPK	GPK	106,664	$2.8m106.7k shares
CHORD ENERGY CORPORATION CHRD	CHRD	24,525	$2.8m24.5k shares
SLEEP NUMBER CORP SNBRQ	SNBRQ	363,633	$2.3m363.6k shares
ICHOR HOLDINGS ICHR	ICHR	93,760	$2.1m93.8k shares
INTERDIGITAL INC IDCC	IDCC	8,475	$1.8m8.5k shares
PAR TECHNOLOGY CORP PAR	PAR	27,636	$1.7m27.6k shares
ATLAS ENERGY SOLUTIONS INC AESI	AESI	84,000	$1.5m84.0k shares
PHOTRONICS INC PLAB	PLAB	71,945	$1.5m71.9k shares
DIREXION SHS ETF TR TNA	TNA	49,000	$1.4m49.0k shares
USA COMPRESSION PARTNERS LP USAC	USAC	26,621	$718.0k26.6k shares
NORTHERN OIL & GAS INC NOG	NOG	21,995	$665.0k22.0k shares
CHUBB LIMITED CB	CB	2,085	$630.0k2.1k shares
ENTERPRISE PRODS PARTNERS L EPD	EPD	17,676	$603.0k17.7k shares
MANITOWOC CO INC MTW	MTW	60,860	$523.0k60.9k shares
SCHLUMBERGER LTD SLB	SLB	11,533	$482.0k11.5k shares
DELTA AIR LINES INC DEL DAL	DAL	8,668	$378.0k8.7k shares
TWIST BIOSCIENCE CORP TWST	TWST	8,750	$344.0k8.8k shares
MOELIS & CO MC	MC	5,715	$334.0k5.7k shares
TRACTOR SUPPLY CO TSCO	TSCO	5,595	$308.0k5.6k shares
ORACLE CORP ORCL	ORCL	2,000	$280.0k2.0k shares
GLOBAL MED REIT INC GMRE	GMRE	32,000	$280.0k32.0k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
SPOTIFY TECHNOLOGY S A SPOT · Call	SPOT	Call	190	$5.5m190 shares	Reduced
UNITEDHEALTH GROUP INC UNH · Call	UNH	Call	350	$2.4m350 shares	New
GENERAC HLDGS INC GNRC · Call	GNRC	Call	500	$2.2m500 shares	New
BOEING CO BA · Call	BA	Call	250	$1.1m250 shares	Reduced
TEXAS PACIFIC LAND CORPORATI TPL · Call	TPL	Call	15	$348.0k15 shares	Added
NVIDIA CORPORATION NVDA · Call	NVDA	Call	50	$325.0k50 shares	New