PENN DAVIS MCFARLAND INC

CIK 0001108893 · Q1 2026

13F Equity AUM

$1.0B

-2.1% QoQ

Positions

0 QoQ

AUM Rank

#2,753

Top 22%

Skill Alpha (FF)

-0.2%/yr^ns

No Clear Edge

Rank #2,557 · Top 31%

vs S&P -5.0%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 35.2%Top 10: 54.3%Top 20: 79.7%

GOOG12.1%

NVDA8.5%

KMI5.6%

SHEL4.5%

AAPL4.5%

EPD4.3%

ROIV4.3%

UNH3.6%

RTX3.5%

BUD3.3%

Others (65)45.7%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Technology22.4%

Energy17.8%

Communication Services17.7%

Healthcare13.8%

Industrials10.2%

Consumer Defensive8.3%

Consumer Cyclical5.8%

Financial Services4.1%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 75Median: 0.44%Avg: 1.33%

0–0.5%

40(6.3%)

0.5–1%

9(6.3%)

1–3%

14(26.7%)

3–5%

9(34.4%)

5%+

3(26.2%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 72Unique: 3vs 20 funds

1%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

1.4%

BANK OF AMERICA CORP /DE/

1.5%

2.4%

1.8%

1.4%

1.9%

VANGUARD CAPITAL MANAGEMENT LLC

1.8%

VANGUARD PORTFOLIO MANAGEMENT LLC

2.2%

GEODE CAPITAL MANAGEMENT, LLC

1.8%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New3Increased1Decreased54Exited3

New Positions

CRM2.8%

+155K

GEV0.0%

+240

TPL0.0%

+450

Increased

VOO0.1%

+52(+5%)

Decreased

ROIV4.3%

-265,666(-14%)

GOOGL3.1%

-62,683(-36%)

GOOG12.1%

-30,313(-7%)

SIRI0.3%

-26,959(-20%)

KMI5.6%

-17,481(-1%)

BSM2.9%

-7,879(-0%)

RTX3.5%

-6,387(-3%)

EPD4.3%

-5,140(-0%)

SHEL4.5%

-4,578(-1%)

LVS2.1%

-3,606(-1%)

Exited

TOST

-7,500

ORCL

-1,130

DIS

-1,766

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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