First Financial Bankshares portfolio

What changed this quarter

125 positions with a change (18 new, 51 added to, 47 trimmed, 9 sold). 3 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Honeywell International−1.5 ppof portfolioSold out
  1.7% → —
• Micron Technology−22%fewer sharesReduced
  1.0% → 2.4%
• Federated Hermes ETF Trust+0.5 ppof portfolioNew
  — → 0.5%

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• MicrosoftMSFT5.0%
• BroadcomAVGO4.9%
• AlphabetGOOGL · GOOG4.4%
• iShares Core S&P Midcap ETFIJH4.2%
• JPMorgan ChaseJPM4.1%
• AppleAAPL4.0%
• Vanguard Total Bond Market ETFBND3.6%
• Johnson & JohnsonJNJ3.0%
• Vanguard Ftse Developed ETFVEA2.8%
• Micron TechnologyMU2.4%
• Cisco SystemsCSCO2.3%
• ChevronCVX2.0%
• Williams CompaniesWMB2.0%
• NVIDIANVDA1.9%
• Bank of AmericaBAC1.9%
• McDONALD’SMCD1.8%
• MerckMRK1.8%
• Amazon.comAMZN1.8%
• BlackstoneBX1.7%
• American Electric PowerAEP1.7%
• EatonETN1.7%
• Coca-ColaKO1.7%
• Nextera EnergyNEE1.7%
• CitigroupC1.7%
• Vanguard S/t Corp Bond ETFVCSH1.6%
• Meta PlatformsMETA1.6%
• AmgenAMGN1.5%
• Vanguard Short-term Treasury ETFVGSH1.5%
• PepsicoPEP1.4%
• BlackRockBLK1.3%
• American TowerAMT1.2%
• MedtronicMDT1.1%
• Vanguard International Equity Index FVWO1.1%
• Lockheed MartinLMT1.1%
• iShares Core S&P Small-cap E ETFIJR1.0%
• ConocoPhillipsCOP0.9%
• L3harris TechnologiesLHX0.9%
• Mondelez InternationalMDLZ0.9%
• SEI InvestmentsSEIC0.9%
• ServiceNowNOW0.9%
• NisourceNI0.9%
• Home DepotHD0.9%
• Regions FinancialRF0.8%
• Union PacificUNP0.7%
• NovartisNVS0.7%
• Berkshire HathawayBRK/B0.7%
• State Street SPDR S&P Regional Bank ETFKRE0.7%
• MastercardMA0.7%
• Vanguard Mortgage-backed Sec ETFVMBS0.6%
• Vanguard Real Estate ETFVNQ0.5%
• St SR UTL SL SE SPDR ETF-usd ETFXLU0.5%
• Federated Hermes ETF TrustFSCC0.5%
• iShares US Transportation ET ETFIYT0.5%
• StarbucksSBUX0.5%
• Vanguard Long-term Treasury ETFVGLT0.4%
• Vanguard Int-term Corporate ETFVCIT0.4%
• ProFrac HoldingACDC0.4%
• Encompass HealthEHC0.4%
• OracleORCL0.4%
• WalmartWMT0.4%
• UnitedHealth GroupUNH0.4%
• Booking HoldingsBKNG0.3%
• Realty IncomeO0.3%
• Vistra OperationsVST0.3%
• UBER TechnologiesUBER0.3%
• United TherapeuticsUTHR0.2%
• Abbott LaboratoriesABT0.2%
• PfizerPFE0.2%
• Vanguard S&P 500 ETFVOO0.2%
• AtlassianTEAM0.2%
• Palo Alto NetworksPANW0.2%
• iShares Msci Eafe ETFEFA0.2%
• iShares Core S&P 500 ETFIVV0.1%
• Exxon MobilXOM0.1%
• Neurocrine BiosciencesNBIX0.1%
• Alexandria Real Estate EquitiesARE0.1%
• iShares Russell 1000 ETFIWB0.1%
• Vanguard International Equity Index FVT0.1%
• State Str Spdr S&P 500 ETF TSPY0.1%
• KLAKLAC0.1%
• Intuitive SurgicalISRG0.1%
• Phillips 66PSX0.1%
• Kimbell Royalty PartnersKRP(unit)0.1%
• iShares Core Msci Eafe ETFIEFA0.1%
• Lam ResearchLRCX0.1%
• iShares Msci Emerging Market ETFEEM0.1%
• GE AerospaceGE0.1%
• Main Street CapitalMAINunder 0.1%
• iShares Core U.s. Aggregate ETFAGGunder 0.1%
• Schwab US Large-cap ETFSCHXunder 0.1%
• CaterpillarCATunder 0.1%
• BNY Mellon ETF Trust IIBMOPunder 0.1%
• Prosperity BancsharesPBunder 0.1%
• Southern Missouri BancorpSMBCunder 0.1%
• TeslaTSLAunder 0.1%
• VisaVunder 0.1%
• iShares Russell Mid-cap ETFIWRunder 0.1%
• McKESSONMCKunder 0.1%
• RTXRTXunder 0.1%