You're signed outSign in or to get full access.
Penn Davis Mcfarland Inc.
Penn Davis McFarland, Inc. is an independent, fee-only registered investment advisor headquartered in Dallas, Texas. Founded in 1977 by Fred M. Penn, John H. Davis, and John S. McFarland, the firm provides discretionary asset management and family office services for individuals, families, trusts, charities, and retirement plans. With a research-driven and growth-oriented approach, PDM serves clients through separately managed accounts tailored to their specific goals and needs. As of early 2025, the firm manages over $1.26 billion in client assets and has a multi-generational team that emphasizes client service and long-term wealth preservation.
Investment Strategy
Penn Davis McFarland implements a disciplined, long-term investment process focusing on fundamental research and concentrated portfolios. Their philosophy is to seek global opportunities through U.S.-listed equities, prioritizing companies with market leadership, high barriers to entry, strong cash flow, healthy balance sheets, shareholder-aligned management, sales growth, margin expansion prospects, and high returns on capital. The firm is unconstrained by style mandates and practices a contrarian, value-focused approach—waiting to invest only when compelling opportunities exist and willing to hold significant cash positions when appropriate. Risk management centers around capital preservation, creating a margin of safety, strong sell discipline, and incremental position building. The firm also offers family office services for select clients.
Latest 13F Filing Activity
Penn Davis Mcfarland Inc. filed their most recent 13F report on Sep 30, 2025 disclosing 74 equity positions with a total 13F market value of $968M. The fund increased holdings in Alphabet, Inc. CL C (google C), Alphabet, Inc. CL A (google A), Nvidia Corp. among other positions. Penn Davis Mcfarland Inc. reduced exposure to Sprouts Farmers Market Inc., Paypal Holdings, Inc., Anheuser-busch Inbev Sa/nv among others.
Top Holdings
Equity Positions (74)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
G GOOG | ALPHABET, INC. CL C (GOOGLE C) | 11.69% | $113.1M | 464,324 | $48.17 | $243.55 | +$27.2M |
N NVDA | NVIDIA CORP | 10.03% | $97.1M | 520,278 | $118.01 | $186.58 | +$11.3M |
K KMI | KINDER MORGAN, INC. | 5.06% | $48.9M | 1,729,057 | $17.88 | $28.31 | -$2.3M |
U UNH | UNITEDHEALTH GROUP, INC. | 4.84% | $46.9M | 135,687 | $318.07 | $345.30 | +$4.9M |
A AAPL | APPLE, INC. | 4.82% | $46.6M | 182,988 | $42.70 | $254.63 | +$9.0M |
Industry Allocation
Investment Team (2)
| Name | Role | Location | |
|---|---|---|---|
 | Portfolio Manager and Research Analyst | Dallas, TX , United States | |
 | Portfolio Manager | Dallas, TX , United States |
Ask Fintool AI Agent
Get instant answers from SEC filings, earnings calls & more