Top Institutional Investors

SFMG, LLC — 13F Holdings & Portfolio

CIK 1512026 · latest 13F-HR filed 2026-08-13

Backtest portfolio

SFMG, LLC manages $1.66B in 13F-reported U.S. long-equity assets across 350 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are ATO (11.00%), PTLC (9.29%), SPHQ (9.28%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 36 new positions and exited 17; 157 existing positions rose in reported value and 71 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$1.66B

Long-equity book

Holdings
350

Distinct positions

Period
2026-06-30

Filed 2026-08-13

Q/Q Activity
+36 / −17 / ↑157 / ↓71

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
ATO11.1% · +0%PTLC9.4% · +6%SPHQ9.4% · +1%GSLC7.5% · +2%QUS6.4% · +4%MOAT4.3% · +1%AAPL4.1% · +0%BRK.B3.3% · -2%IVV2.3% · -3%AMAT2.2% · -2%COWZ2.1% · -0%NVDA2.1% · +2%AMD1.7% · -2%AMZN1.5% · -1%GOOG1.5% · -0%MSFT1.4% · +1%SCHQ1.2% · +15%JEPI1.0% · +4%SPY1.0% · +8%RTX0.8% · -1%WMT0.8% · +2%PANW0.7% · -2%FDIF0.6% · +9%GOOGL0.5% · +4%CSX0.5% · -1%V0.5% · +1%SCHX0.5% · -1%AVGO0.4% · +15%VZ0.4% · -1%COP0.4% · -1%ISRG0.4% · +669%ARCC0.4% · -3%QQQ0.4% · -1%QTEC0.4% · -9%NVO0.4% · +1%JPM0.4% · -4%META0.4% · +3%BXSL0.3% · -1%TSLA0.3% · +7%BLK0.3% · -1%VOO0.3% · +6%TMO0.3% · +1%SLB0.3% · -4%KLAC0.3% · +905%COST0.3% · +3%IGV0.3% · -4%CIBR0.3% · +6%LLY0.2% · +11%CRM0.2% · -6%STX0.2% · +0%VTI0.2% · +31%JNJ0.2% · +10%GLD0.2% · -4%TLT0.2% · -33%HON0.2% · -51%HONA0.2% · newADBE0.2% · -5%FBTC0.2% · +11%XOM0.2% · +5%SPTM0.2% · 0%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 60.1%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Jul 24, 2026.

Assets Under Management
$2.96B
Discretionary
$2.67B
Employees
39
Accounts
4,323
Address
3960 DALLAS PARKWAY
SUITE 400
PLANO, TX 75093
Phone
(972) 960-6460
Website
Name Title / Status Ownership Type
BILLING, CRYSTAL, LEIGH ControlCHIEF COMPLIANCE OFFICER & WEALTH ADVISOR
since Jan 2021
Less than 5%Individual
BLAIR, RYAN, JAY ControlPRESIDENT & MANAGING DIRECTOR
since Jan 2022
10–25%Individual
Cayet, Christopher, Garrett ControlCHIEF INVESTMENT OFFICER
since Jun 2021
Less than 5%Individual
GREENWAY, CRAIG, METZ ControlSTAKEHOLDER
since Dec 2023
5–10%Individual
Hawkins, Melissa ControlDIRECTOR OF OPERATIONS
since Jan 2022
Less than 5%Individual
MARGOLIS, KEVIN, WAYNE ControlCEO, MANAGING DIRECTOR
since Jan 2005
25–50%Individual
NIPP, JAMES, TAYLOR ControlMANAGING DIRECTOR
since Jul 2020
5–10%Individual
SHAH, SHASHIN, GIRISH ControlMANAGING DIRECTOR
since Jul 2019
10–25%Individual
Ownership & leadership changes · 10 filings with changes since Mar 23, 2012

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Mar 13, 2026 filing
  • No longer listedYOUNG, TYLER, JORDAN · HEAD OF ADVISORY AND WEALTH ADVISOR · Less than 5% · listed since Jan 2025
Mar 13, 2025 filing
  • AddedYOUNG, TYLER, JORDAN · HEAD OF ADVISORY AND WEALTH ADVISOR · Less than 5%
Mar 26, 2024 filing
  • ChangedGREENWAY, CRAIG, METZ · title CFO, MANAGING DIRECTOR → STAKEHOLDER; ownership 10–25% → 5–10%
Mar 25, 2022 filing
  • AddedCayet, Christopher, Garrett · CHIEF INVESTMENT OFFICER · Less than 5% · control person
  • AddedHawkins, Melissa · DIRECTOR OF OPERATIONS · Less than 5% · control person
  • ChangedBILLING, CRYSTAL, LEIGH · title CHIEF COMPLIANCE OFFICER → CHIEF COMPLIANCE OFFICER & WEALTH ADVISOR
  • ChangedBLAIR, RYAN, JAY · title MANAGING DIRECTOR AND COO → PRESIDENT & MANAGING DIRECTOR
  • ChangedNIPP, JAMES, TAYLOR · ownership Less than 5% → 5–10%
May 6, 2021 filing
  • No longer listedMORGAN, GREGORY, PAUL · MANAGING DIRECTOR AND FOUNDER · 10–25% · control person · listed since Jan 2005
Mar 30, 2021 filing
  • No longer listedWHITE, DAVID, WAYNE · MANAGING DIRECTOR · 25–50% · control person · listed since Jan 2007
  • AddedBILLING, CRYSTAL, LEIGH · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ChangedBLAIR, RYAN, JAY · ownership Less than 5% → 10–25%
  • ChangedGREENWAY, CRAIG, METZ · title CFO, MANAGING DIRECTOR AND CHIEF COMPLIANCE OFFICER → CFO, MANAGING DIRECTOR; ownership 25–50% → 10–25%
  • ChangedMORGAN, GREGORY, PAUL · ownership 25–50% → 10–25%
  • ChangedNIPP, JAMES, TAYLOR · title DIRECTOR → MANAGING DIRECTOR
  • ChangedSHAH, SHASHIN, GIRISH · ownership Less than 5% → 10–25%
Mar 30, 2020 filing
  • ChangedBLAIR, RYAN, JAY · title DIRECTOR → MANAGING DIRECTOR AND COO
  • ChangedSHAH, SHASHIN, GIRISH · title DIRECTOR → MANAGING DIRECTOR
Mar 30, 2018 filing
  • AddedSHAH, SHASHIN, GIRISH · DIRECTOR · Less than 5% · control person
Mar 31, 2015 filing
  • ChangedMARGOLIS, KEVIN, WAYNE · title MANAGING DIRECTOR → CEO, MANAGING DIRECTOR
Nov 19, 2014 filing
  • AddedBLAIR, RYAN, JAY · DIRECTOR · Less than 5% · control person
  • AddedNIPP, JAMES, TAYLOR · DIRECTOR · Less than 5% · control person
  • ChangedGREENWAY, CRAIG, METZ · title CFO, MANAGING MEMBER AND CHIEF COMPLIANCE OFFICER → CFO, MANAGING DIRECTOR AND CHIEF COMPLIANCE OFFICER
  • ChangedMARGOLIS, KEVIN, WAYNE · title MANAGING MEMBER → MANAGING DIRECTOR
  • ChangedMORGAN, GREGORY, PAUL · title MANAGING MEMBER → MANAGING DIRECTOR AND FOUNDER
  • ChangedWHITE, DAVID, WAYNE · title MANAGING MEMBER → MANAGING DIRECTOR
Older changes (1 more filing)
Mar 23, 2012 filing (earliest on record)
  • ListedGREENWAY, CRAIG, METZ · CFO, MANAGING MEMBER AND CHIEF COMPLIANCE OFFICER · 25–50% · control person
  • ListedMARGOLIS, KEVIN, WAYNE · MANAGING MEMBER · 25–50% · control person
  • ListedMORGAN, GREGORY, PAUL · MANAGING MEMBER · 25–50% · control person
  • ListedWHITE, DAVID, WAYNE · MANAGING MEMBER · 25–50% · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

SFMG, LLC Holdings (2026-06-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 ATMOS ENERGY CORP ATO 049560105 $182.7M 11.00% 1,060,369 SH
2 PACER FDS TR PTLC 69374H105 $154.3M 9.29% 2,648,509 SH
3 INVESCO EXCHANGE TRADED FD T SPHQ 46137V241 $154.1M 9.28% 1,710,162 SH
4 GOLDMAN SACHS ETF TR GSLC 381430503 $123.5M 7.44% 870,472 SH
5 SPDR SERIES TRUST QUS 78468R812 $104.8M 6.31% 560,714 SH
6 VANECK ETF TRUST MOAT 92189F643 $70.8M 4.27% 681,430 SH
7 APPLE INC AAPL 037833100 $67.1M 4.04% 232,048 SH
8 BERKSHIRE HATHAWAY INC DEL BRK.B 084670702 $54.6M 3.29% 109,129 SH
9 ISHARES TR IVV 464287200 $38.1M 2.30% 50,917 SH
10 APPLIED MATLS INC AMAT 038222105 $35.8M 2.15% 49,474 SH
11 PACER FDS TR COWZ 69374H881 $35.1M 2.11% 563,677 SH
12 NVIDIA CORPORATION NVDA 67066G104 $34.6M 2.09% 173,160 SH
13 ADVANCED MICRO DEVICES INC AMD 007903107 $27.7M 1.67% 47,675 SH
14 AMAZON COM INC AMZN 023135106 $25.1M 1.51% 105,222 SH
15 ALPHABET INC GOOG 02079K107 $25.0M 1.50% 70,722 SH
16 MICROSOFT CORP MSFT 594918104 $22.9M 1.38% 61,296 SH
17 SCHWAB STRATEGIC TR SCHQ 808524680 $19.5M 1.17% 621,809 SH
18 J P MORGAN EXCHANGE TRADED F JEPI 46641Q332 $16.8M 1.01% 298,098 SH
19 STATE STR SPDR S&P 500 ETF T SPY 78462F103 $16.8M 1.01% 22,501 SH
20 RTX CORPORATION RTX 75513E101 $13.2M 0.79% 69,335 SH
21 WALMART INC WMT 931142103 $12.6M 0.76% 111,028 SH
22 PALO ALTO NETWORKS INC PANW 697435105 $11.9M 0.72% 34,942 SH
23 FIDELITY COVINGTON TRUST FDIF 316092121 $10.3M 0.62% 254,195 SH
24 STATE STR SPDR S&P 500 ETF T Call SPY 78462F103 $9.7M 0.58% 13,000 SH
25 ALPHABET INC GOOGL 02079K305 $8.6M 0.52% 24,052 SH
26 CSX CORP CSX 126408103 $8.4M 0.51% 177,477 SH
27 VISA INC V 92826C839 $7.6M 0.46% 22,188 SH
28 SCHWAB STRATEGIC TR SCHX 808524201 $7.6M 0.46% 257,317 SH
29 BROADCOM INC AVGO 11135F101 $7.2M 0.44% 19,141 SH
30 VERIZON COMMUNICATIONS INC VZ 92343V104 $7.0M 0.42% 166,299 SH
31 CONOCOPHILLIPS COP 20825C104 $6.9M 0.42% 66,641 SH
32 INTUITIVE SURGICAL INC ISRG 46120E602 $6.5M 0.39% 16,224 SH
33 ARES CAPITAL CORP ARCC 04010L103 $6.4M 0.38% 342,928 SH
34 NVIDIA CORPORATION Put NVDA 67066G104 $6.3M 0.38% 31,400 SH
35 INVESCO QQQ TR QQQ 46090E103 $6.1M 0.37% 8,271 SH
36 FIRST TR EXCHANGE-TRADED FD QTEC 337345102 $6.1M 0.37% 18,172 SH
37 NOVO-NORDISK A S NVO 670100205 $5.8M 0.35% 121,108 SH
38 JPMORGAN CHASE & CO JPM 46625H100 $5.8M 0.35% 17,677 SH
39 META PLATFORMS INC META 30303M102 $5.8M 0.35% 10,244 SH
40 BLACKSTONE SECD LENDING FD BXSL 09261X102 $5.5M 0.33% 231,526 SH
41 TESLA INC TSLA 88160R101 $5.4M 0.32% 12,775 SH
42 BLACKROCK INC BLK 09290D101 $5.3M 0.32% 5,476 SH
43 VANGUARD INDEX FDS VOO 922908363 $5.1M 0.31% 7,417 SH
44 THERMO FISHER SCIENTIFIC INC TMO 883556102 $4.9M 0.30% 9,852 SH
45 SLB LIMITED SLB 806857108 $4.5M 0.27% 97,284 SH
46 KLA CORP KLAC 482480100 $4.4M 0.26% 14,580 SH
47 COSTCO WHOLESALE CORPORATION COST 22160K105 $4.4M 0.26% 4,690 SH
48 ISHARES TR IGV 464287515 $4.4M 0.26% 48,072 SH
49 FIRST TR EXCHANGE-TRADED FD CIBR 33734X846 $4.3M 0.26% 47,580 SH
50 ELI LILLY & CO LLY 532457108 $4.1M 0.25% 3,421 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-13 $1.66B 350 0001512026-26-000005
2026-03-31 2026-05-12 $1.48B 333 0001512026-26-000003
2025-12-31 2026-02-10 $1.49B 315 0001512026-26-000001
2025-09-30 2025-11-13 $1.44B 307 0001512026-25-000009
Filer Information
Address
3960 DALLAS PARKWAY
SUITE 400
PLANO, TX 75093
Phone
(972) 960-6460
Filing Manager
SFMG, LLC
PLANO, TX
Signatory
Crystal Billing
Chief Compliance Officer