Davidson Capital Management Inc. — 13F Holdings & Portfolio
CIK 1808748 · latest 13F-HR filed 2026-10-15
Davidson Capital Management Inc. manages $604.5M in 13F-reported U.S. long-equity assets across 99 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are VCIT (17.18%), VCLT (8.47%), SPMO (5.64%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 7 new positions and exited 4; 23 existing positions rose in reported value and 39 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
$604.5M
Long-equity book
Holdings
99
Distinct positions
Period
2026-09-30
Filed 2026-10-15
Q/Q Activity
+7 / −4 / ↑23 / ↓39
vs 2026-06-30
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q3 26VCIT17.2% · +1%VCLT8.5% · +3%SPMO5.6% · -1%DGRO4.3% · -1%VCSH4.3% · +2%XMMO3.4% · -0%QQQ3.2% · -1%SPHQ2.8% · -0%PANW1.4% · -27%FTNT1.4% · -21%ANET1.3% · -1%FIX1.3% · +0%KLAC1.3% · +1%EXEL1.2% · +1%PWR1.2% · +1%MPWR1.2% · +2%GEV1.2% · +1%SCCO1.2% · +2%UFPT1.2% · +1%MSFT1.2% · +2%NVDA1.2% · +2%IBKR1.1% · +1%VRT1.1% · +2%LLY1.0% · +2%EME1.0% · +3%MEDP1.0% · +2%UTHR1.0% · +3%GOOGL1.0% · +2%CBOE1.0% · +2%MCK1.0% · +2%V1.0% · +2%AEM0.9% · +6%AVGO0.9% · +2%WRB0.9% · +3%CME0.9% · +3%IRMD0.9% · +11%ENSG0.9% · +3%ORLY0.9% · +3%USLM0.8% · +3%TJX0.8% · +4%SNPS0.7% · +5%TSLA0.7% · +5%ABBV0.7% · newAEP0.7% · +2%NOW0.7% · +4%DUK0.7% · +3%NEE0.6% · +3%VST0.6% · +10%KNSL0.6% · +3%ENVA0.5% · -0%HWM0.5% · +2%COST0.5% · +2%WMT0.4% · +3%NFLX0.4% · +4%CEG0.4% · +22%TER0.4% · -3%AMAT0.3% · -3%IBM0.3% · +6%ISRG0.3% · +30%MU0.3% · new
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 valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q2 26 → Q3 26Estimated 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 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 52.1%Cumulative share of the portfolio held in the largest N positions.
Firm Profile & Key People
As of the firm’s regulatory filing dated Dec 15, 2025.
Assets Under Management
$5.20B
Discretionary
$5.16B
Employees
31
Accounts
4,407
Address
8 THIRD STREET NORTH
GREAT FALLS, MT 59401-3104
GREAT FALLS, MT 59401-3104
Phone
(406) 727-6111
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| CROTTY, EDWARD, PATRICK Control | DIRECTOR since Jan 2013 | Less than 5% | Individual |
| D.A. DAVIDSON COMPANIES Control | PARENT COMPANY since May 1986 | 75% or more | Domestic Entity |
| DAVIDSON, ANDREW, IAN Control | PRESIDENT, DIRECTOR since Nov 2004 | Less than 5% | Individual |
| KUBAS, HEATHER, ELIZABETH Control | CHIEF OPERATING OFFICER & CHIEF COMPLIANCE OFFICER since Apr 2018 | Less than 5% | Individual |
| MARTINEZ, LAWRENCE, TODD Control | CEO, D.A. DAVIDSON COMPANIES, DIRECTOR since Feb 2022 | Less than 5% | Individual |
| D.A. DAVIDSON TRUST COMPANY Indirect owner via EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST | TRUSTEE since Sep 2001 | 25–50% | Domestic Entity |
| EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST Indirect owner via D.A. DAVIDSON COMPANIES | SHAREHOLDER since Sep 2001 | 25–50% | Domestic Entity |
Ownership & leadership changes · 13 filings with changes since Dec 22, 2011
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.
Dec 22, 2023 filing
- No longer listedCONDON, STEVEN, PAUL · DIRECTOR · Less than 5% · control person · listed since Jan 2017
Dec 22, 2022 filing
- No longer listedKERR, JAMES, PATRICK · DIRECTOR, CHIEF EXECUTIVE OFFICER OF PARENT COMPANY · Less than 5% · control person · listed since Oct 2016
- AddedMARTINEZ, LAWRENCE, TODD · CEO, D.A. DAVIDSON COMPANIES, DIRECTOR · Less than 5% · control person
May 25, 2018 filing
- ChangedKUBAS, HEATHER, ELIZABETH · title CHIEF COMPLIANCE OFFICER & CHIEF OPERATING OFFICER → CHIEF OPERATING OFFICER & CHIEF COMPLIANCE OFFICER
Apr 6, 2018 filing
- No longer listedHALL, WESLEY, DEAN · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Oct 2012
- ChangedKUBAS, HEATHER, ELIZABETH · title CHIEF OPERATING OFFICER → CHIEF COMPLIANCE OFFICER & CHIEF OPERATING OFFICER
Dec 21, 2017 filing
- AddedKUBAS, HEATHER, ELIZABETH · CHIEF OPERATING OFFICER · Less than 5% · control person
Jun 6, 2017 filing
- No longer listedLOEN, BROCK · DIRECTOR · Less than 5% · control person · listed since Jan 2014
- AddedCONDON, STEVEN, PAUL · DIRECTOR · Less than 5% · control person
Dec 22, 2016 filing
- No longer listedCONNAGHAN, THOMAS, E · DIRECTOR · Less than 5% · control person · listed since Jan 2007
- No longer listedFROEHLICH, ROBERT, JOSEPH · DIRECTOR · Less than 5% · control person · listed since Nov 2009
- No longer listedWOODCOCK, DOUGLAS, ARTHUR · DIRECTOR · Less than 5% · control person · listed since Mar 2009
- ChangedKERR, JAMES, PATRICK · title DIRECTOR, PRESIDENT AND CHIEF EXECUTIVE OFFICER OF PARENT COMPANY → DIRECTOR, CHIEF EXECUTIVE OFFICER OF PARENT COMPANY
May 21, 2015 filing
- ChangedKERR, JAMES, PATRICK · title DIRECTOR AND CHEIF EXECUTIVE OFFICER OF PARENT COMPANY → DIRECTOR, PRESIDENT AND CHIEF EXECUTIVE OFFICER OF PARENT COMPANY
Jan 30, 2015 filing
- No longer listedJOHNSTONE, WILLIAM, ADAM · CHAIRMAN & DIRECTOR, AND CEO OF PARENT COMPANY · Less than 5% · control person · listed since Jan 2004
- AddedKERR, JAMES, PATRICK · DIRECTOR AND CHEIF EXECUTIVE OFFICER OF PARENT COMPANY · Less than 5% · control person
Dec 23, 2014 filing
- No longer listedDAVIDSON COMPANIES · PARENT COMPANY · 75% or more · control person · listed since May 1986
- No longer listedDAVIDSON TRUST CO. · TRUSTEE · 25–50% · indirect via EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST · listed since Sep 2001
- No longer listedEMPLOYEE STOCK OWNERSHIP PLAN AND TRUST · SHAREHOLDER · 25–50% · indirect via DAVIDSON COMPANIES · listed since Sep 2001
- No longer listedPRICKETT, SCOTT, DAVID · DIRECTOR · Less than 5% · listed since Jan 2012
- AddedCROTTY, EDWARD, PATRICK · DIRECTOR · Less than 5% · control person
- AddedD.A. DAVIDSON COMPANIES · PARENT COMPANY · 75% or more · control person
- AddedD.A. DAVIDSON TRUST COMPANY · TRUSTEE · 25–50% · indirect via EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST
- AddedEMPLOYEE STOCK OWNERSHIP PLAN AND TRUST · SHAREHOLDER · 25–50% · indirect via D.A. DAVIDSON COMPANIES
- AddedLOEN, BROCK · DIRECTOR · Less than 5% · control person
Older changes (4 more filings)
Dec 24, 2013 filing
- No longer listedBRADY, ROBERT, EUGENE · DIRECTOR · Less than 5% · control person · listed since Jan 2010
- No longer listedDAVIDSON COMPANIES · PARENT CORPORATION · 50–75% · indirect via DAVIDSON INVESTMENT ADVISORS, INC. · control person · listed since May 1986
- AddedDAVIDSON TRUST CO. · TRUSTEE · 25–50% · indirect via EMPLOYEE STOCK OWNERSHIP PLAN AND TRUST
- ChangedEMPLOYEE STOCK OWNERSHIP PLAN AND TRUST · indirect via DAVIDSON COMPANIES: title EMPLOYEE STOCK OWNERSHIP PLAN → SHAREHOLDER; no longer a control person
Dec 21, 2012 filing
- No longer listedWILSON, ARLENE, MARIE · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Oct 2004
- AddedHALL, WESLEY, DEAN · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- ChangedBRADY, ROBERT, EUGENE · now a control person
- ChangedCONNAGHAN, THOMAS, E · now a control person
- ChangedFROEHLICH, ROBERT, JOSEPH · now a control person
- ChangedJOHNSTONE, WILLIAM, ADAM · title DIRECTOR AND CEO OF PARENT COMPANY → CHAIRMAN & DIRECTOR, AND CEO OF PARENT COMPANY
- ChangedWOODCOCK, DOUGLAS, ARTHUR · now a control person
Apr 27, 2012 filing
- No longer listedPOLLOCK, DAVID, LEON · DIRECTOR · Less than 5% · listed since Jan 2007
- No longer listedROUND, RAYMOND, JOSEPH · DIRECTOR · Less than 5% · control person · listed since Jan 2004
- AddedPRICKETT, SCOTT, DAVID · DIRECTOR · Less than 5%
Dec 22, 2011 filing (earliest on record)
- ListedBRADY, ROBERT, EUGENE · DIRECTOR · Less than 5%
- ListedCONNAGHAN, THOMAS, E · DIRECTOR · Less than 5%
- ListedDAVIDSON COMPANIES · PARENT COMPANY · 75% or more · control person
- ListedDAVIDSON COMPANIES · PARENT CORPORATION · 50–75% · indirect via DAVIDSON INVESTMENT ADVISORS, INC. · control person
- ListedDAVIDSON, ANDREW, IAN · PRESIDENT, DIRECTOR · Less than 5% · control person
- ListedEMPLOYEE STOCK OWNERSHIP PLAN AND TRUST · EMPLOYEE STOCK OWNERSHIP PLAN · 25–50% · indirect via DAVIDSON COMPANIES · control person
- ListedFROEHLICH, ROBERT, JOSEPH · DIRECTOR · Less than 5%
- ListedJOHNSTONE, WILLIAM, ADAM · DIRECTOR AND CEO OF PARENT COMPANY · Less than 5% · control person
- ListedPOLLOCK, DAVID, LEON · DIRECTOR · Less than 5%
- ListedROUND, RAYMOND, JOSEPH · DIRECTOR · Less than 5% · control person
- ListedWILSON, ARLENE, MARIE · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- ListedWOODCOCK, DOUGLAS, ARTHUR · DIRECTOR · Less than 5%
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- MICROSOFT CORP$2.0M +40.4%
- ARISTA NETWORKS INC$1.2M +18.2%
- SERVICENOW INC$1.2M +39.7%
- AGNICO EAGLE MINES LTD$1.1M +24.9%
- SOUTHERN COPPER CORP$1.1M +18.8%
Top Trims
- KLA CORP-$4.0M -34.7%
- VANGUARD SCOTTSDALE FDS-$3.5M -6.4%
- INVESCO EXCHANGE TRADED FD T-$3.2M -13.8%
- INVESCO EXCH TRADED FD TR II-$2.8M -7.5%
- VERTIV HOLDINGS CO-$2.4M -26.6%
New Positions
- ABBVIE INC$4.3M
- MICRON TECHNOLOGY INC$1.8M
- UIPATH INC$1.3K
- NEBIUS GROUP N.V.$1.2K
- ORACLE CORP$1.1K
Exited Positions
- BOSTON SCIENTIFIC CORP$2.6M
- AUTODESK INC$932.0K
- SALESFORCE INC$4.4K
- INTUIT$3.1K
Davidson Capital Management Inc. Holdings (2026-09-30)
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 | VANGUARD SCOTTSDALE FDS | VCIT | 92206C870 | $103.9M | 17.18% | 1,326,447 | SH |
| 2 | VANGUARD SCOTTSDALE FDS | VCLT | 92206C813 | $51.2M | 8.47% | 747,412 | SH |
| 3 | INVESCO EXCH TRADED FD TR II | SPMO | 46138E339 | $34.1M | 5.64% | 224,963 | SH |
| 4 | ISHARES TR | DGRO | 46434V621 | $26.2M | 4.33% | 347,389 | SH |
| 5 | VANGUARD SCOTTSDALE FDS | VCSH | 92206C409 | $26.0M | 4.30% | 336,454 | SH |
| 6 | INVESCO EXCHANGE TRADED FD T | XMMO | 46137V464 | $20.3M | 3.35% | 138,009 | SH |
| 7 | INVESCO QQQ TR | QQQ | 46090E103 | $19.2M | 3.18% | 25,992 | SH |
| 8 | INVESCO EXCHANGE TRADED FD T | SPHQ | 46137V241 | $17.2M | 2.85% | 204,842 | SH |
| 9 | PALO ALTO NETWORKS INC | PANW | 697435105 | $8.5M | 1.41% | 21,408 | SH |
| 10 | FORTINET INC | FTNT | 34959E109 | $8.3M | 1.38% | 46,518 | SH |
| 11 | ARISTA NETWORKS INC | ANET | 040413205 | $8.0M | 1.32% | 39,163 | SH |
| 12 | COMFORT SYS USA INC | FIX | 199908104 | $7.9M | 1.30% | 4,751 | SH |
| 13 | KLA CORP | KLAC | 482480100 | $7.6M | 1.26% | 39,143 | SH |
| 14 | EXELIXIS INC | EXEL | 30161Q104 | $7.5M | 1.24% | 127,973 | SH |
| 15 | QUANTA SVCS INC | PWR | 74762E102 | $7.4M | 1.23% | 11,563 | SH |
| 16 | MONOLITHIC PWR SYS INC | MPWR | 609839105 | $7.3M | 1.21% | 5,451 | SH |
| 17 | GE VERNOVA INC | GEV | 36828A101 | $7.2M | 1.20% | 7,609 | SH |
| 18 | SOUTHERN COPPER CORP | SCCO | 84265V105 | $7.0M | 1.16% | 34,705 | SH |
| 19 | UFP TECHNOLOGIES INC | UFPT | 902673102 | $7.0M | 1.16% | 23,556 | SH |
| 20 | MICROSOFT CORP | MSFT | 594918104 | $7.0M | 1.16% | 13,612 | SH |
| 21 | NVIDIA CORPORATION | NVDA | 67066G104 | $7.0M | 1.15% | 30,562 | SH |
| 22 | INTERACTIVE BROKERS GROUP IN | IBKR | 45841N107 | $6.7M | 1.11% | 78,659 | SH |
| 23 | VERTIV HOLDINGS CO | VRT | 92537N108 | $6.6M | 1.09% | 27,284 | SH |
| 24 | ELI LILLY & CO | LLY | 532457108 | $6.2M | 1.03% | 5,365 | SH |
| 25 | EMCOR GROUP INC | EME | 29084Q100 | $6.2M | 1.02% | 8,180 | SH |
| 26 | MEDPACE HLDGS INC | MEDP | 58506Q109 | $6.2M | 1.02% | 9,871 | SH |
| 27 | UNITED THERAPEUTICS CORP DEL | UTHR | 91307C102 | $6.1M | 1.01% | 11,252 | SH |
| 28 | ALPHABET INC | GOOGL | 02079K305 | $6.1M | 1.00% | 17,592 | SH |
| 29 | CBOE GLOBAL MKTS INC | CBOE | 12503M108 | $6.0M | 1.00% | 21,963 | SH |
| 30 | MCKESSON CORP | MCK | 58155Q103 | $5.8M | 0.97% | 6,850 | SH |
| 31 | VISA INC | V | 92826C839 | $5.8M | 0.97% | 16,269 | SH |
| 32 | AGNICO EAGLE MINES LTD | AEM | 008474108 | $5.7M | 0.95% | 31,213 | SH |
| 33 | BROADCOM INC | AVGO | 11135F101 | $5.7M | 0.95% | 16,281 | SH |
| 34 | BERKLEY W R CORP | WRB | 084423102 | $5.5M | 0.91% | 81,349 | SH |
| 35 | CME GROUP INC | CME | 12572Q105 | $5.5M | 0.91% | 20,884 | SH |
| 36 | IRADIMED CORP | IRMD | 46266A109 | $5.4M | 0.90% | 63,017 | SH |
| 37 | ENSIGN GROUP INC | ENSG | 29358P101 | $5.4M | 0.90% | 31,496 | SH |
| 38 | OREILLY AUTOMOTIVE INC | ORLY | 67103H107 | $5.2M | 0.86% | 60,981 | SH |
| 39 | UNITED STS LIME & MINERALS I | USLM | 911922102 | $5.1M | 0.84% | 45,039 | SH |
| 40 | TJX COS INC NEW | TJX | 872540109 | $4.7M | 0.78% | 35,725 | SH |
| 41 | SYNOPSYS INC | SNPS | 871607107 | $4.5M | 0.75% | 10,372 | SH |
| 42 | TESLA INC | TSLA | 88160R101 | $4.5M | 0.74% | 12,616 | SH |
| 43 | ABBVIE INC | ABBV | 00287Y109 | $4.3M | 0.70% | 16,272 | SH |
| 44 | AMERICAN ELEC PWR CO INC | AEP | 025537101 | $4.2M | 0.70% | 35,817 | SH |
| 45 | SERVICENOW INC | NOW | 81762P102 | $4.1M | 0.68% | 30,498 | SH |
| 46 | DUKE ENERGY CORP NEW | DUK | 26441C204 | $4.0M | 0.67% | 35,367 | SH |
| 47 | NEXTERA ENERGY INC | NEE | 65339F101 | $3.9M | 0.64% | 51,077 | SH |
| 48 | VISTRA CORP | VST | 92840M102 | $3.8M | 0.63% | 27,420 | SH |
| 49 | KINSALE CAP GROUP INC | KNSL | 49714P108 | $3.5M | 0.59% | 10,989 | SH |
| 50 | ENOVA INTL INC | ENVA | 29357K103 | $2.9M | 0.47% | 17,136 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-09-30 | 2026-10-15 | $604.5M | 99 | 0001808748-26-000005 |
| 2026-06-30 | 2026-07-28 | $624.2M | 96 | 0001808748-26-000004 |
| 2026-03-31 | 2026-04-14 | $551.9M | 93 | 0001808748-26-000003 |
| 2025-12-31 | 2026-01-28 | $462.0M | 117 | 0001808748-26-000001 |
Filer Information
Address
5350 SOUTH STAPLESSUITE 434
CORPUS CHRISTI, TX 78411
Phone
(361) 906-0070
Filing Manager
Davidson Capital Management Inc.
CORPUS CHRISTI, TX
Signatory
W. Jeffrey Davidson
President/Chief Compliance Officer