HOWARD FINANCIAL SERVICES, LTD.

Filed: 4/7/2025ACC: 0001768130-25-000002

📋 What this filing means

HOWARD FINANCIAL SERVICES, LTD. filed this quarterly 13F‑HR report disclosing 183 equity positions with a total reported market value of $734.39M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

183

Positions

$734.39M

Total AUM (reported)

12.98M

Total Shares

Allocation by class

COM$107.01M14.6%

MSCI USA QLT FCT$82.83M11.3%

US DIVIDEND EQ$57.96M7.9%

DIV APP ETF$36.05M4.9%

S&P 500 GARP ETF$35.40M4.8%

S&P500 EQL WGT$34.56M4.7%

TOTAL RETURN$33.55M4.6%

Portfolio Concentration

Top 3$176.84M24.1%

4–10$214.77M29.2%

11–25$193.20M26.3%

Rest$149.58M20.4%

Top 3 weight

24.1%

Top 10 weight

53.3%

Voting Authority Distribution

Total shares with voting rights: 12.98M

Sole

Full voting authority

0.00

% of voting shares0.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

12.98M

% of voting shares100.0%

Investment Discretion (by position count)

Sole183

Shared0

Other0

Dominant voting typeNone · 100.0% of voting shares

Institutional Holdings183

Rows:

ISHARES TR

SOLE

MSCI USA QLT FCT

Shares484.70K

TypeSH

Market value$82.83M

11.28%

Sole

0.00

Shared

0.00

None

484.70K

SCHWAB STRATEGIC TR

SOLE

US DIVIDEND EQ

Shares2.07M

TypeSH

Market value$57.96M

7.89%

Sole

0.00

Shared

0.00

None

2.07M

VANGUARD SPECIALIZED FUNDS

SOLE

DIV APP ETF

Shares185.82K

TypeSH

Market value$36.05M

4.91%

Sole

0.00

Shared

0.00

None

185.82K

INVESCO EXCHANGE TRADED FD T

SOLE

S&P 500 GARP ETF

Shares354.39K

TypeSH

Market value$35.40M

4.82%

Sole

0.00

Shared

0.00

None

354.39K

INVESCO EXCHANGE TRADED FD T

SOLE

S&P500 EQL WGT

Shares199.53K

TypeSH

Market value$34.56M

4.71%

Sole

0.00

Shared

0.00

None

199.53K

INVESCO ACTIVELY MANAGED EXC

SOLE

TOTAL RETURN

Shares714.83K

TypeSH

Market value$33.55M

4.57%

Sole

0.00

Shared

0.00

None

714.83K

APPLE INC

SOLE

COM

Shares134.97K

TypeSH

Market value$29.98M

4.08%

Sole

0.00

Shared

0.00

None

134.97K

HARTFORD FDS EXCHANGE TRADED

SOLE

TOTAL RTRN ETF

Shares868.42K

TypeSH

Market value$29.40M

4.00%

Sole

0.00

Shared

0.00

None

868.42K

PGIM ETF TR

SOLE

TOTAL RETURN BON

Shares669.23K

TypeSH

Market value$27.93M

3.80%

Sole

0.00

Shared

0.00

None

669.23K

WISDOMTREE TR

SOLE

US QTLY DIV GRT

Shares299.77K

TypeSH

Market value$23.94M

3.26%

Sole

0.00

Shared

0.00

None

299.77K

SSGA ACTIVE ETF TR

SOLE

SPDR TR TACTIC

Shares514.76K

TypeSH

Market value$20.74M

2.82%

Sole

0.00

Shared

0.00

None

514.76K

SPDR SER TR

SOLE

BLOOMBERG SHT TE

Shares804.10K

TypeSH

Market value$20.23M

2.75%

Sole

0.00

Shared

0.00

None

804.10K

ISHARES TR

SOLE

MSCI INTL QUALTY

Shares441.11K

TypeSH

Market value$17.51M

2.38%

Sole

0.00

Shared

0.00

None

441.11K

VANECK ETF TRUST

SOLE

FALLEN ANGEL HG

Shares519.55K

TypeSH

Market value$14.99M

2.04%

Sole

0.00

Shared

0.00

None

519.55K

PACER FDS TR

SOLE

PACER US SMALL

Shares384.42K

TypeSH

Market value$14.42M

1.96%

Sole

0.00

Shared

0.00

None

384.42K

VANGUARD WHITEHALL FDS

SOLE

INTL DVD ETF

Shares168.99K

TypeSH

Market value$14.02M

1.91%

Sole

0.00

Shared

0.00

None

168.99K

SCHWAB STRATEGIC TR

SOLE

FUNDAMENTAL INTL

Shares381K

TypeSH

Market value$13.77M

1.87%

Sole

0.00

Shared

0.00

None

381K

SPDR S&P 500 ETF TR

SOLE

TR UNIT

Shares23.13K

TypeSH

Market value$12.94M

1.76%

Sole

0.00

Shared

0.00

None

23.13K

FIRST TR EXCHANGE-TRADED FD

SOLE

RISNG DIVD ACHIV

Shares204.85K

TypeSH

Market value$11.99M

1.63%

Sole

0.00

Shared

0.00

None

204.85K

WISDOMTREE TR

SOLE

EM EX ST-OWNED

Shares318.47K

TypeSH

Market value$9.83M

1.34%

Sole

0.00

Shared

0.00

None

318.47K

MICROSOFT CORP

SOLE

COM

Shares24.44K

TypeSH

Market value$9.18M

1.25%

Sole

0.00

Shared

0.00

None

24.44K

NVIDIA CORPORATION

SOLE

COM

Shares81.03K

TypeSH

Market value$8.78M

1.20%

Sole

0.00

Shared

0.00

None

81.03K

FIRST TR EXCHNG TRADED FD VI

SOLE

TCW OPPORTUNIS

Shares194.98K

TypeSH

Market value$8.55M

1.16%

Sole

0.00

Shared

0.00

None

194.98K

INVESCO QQQ TR

SOLE

UNIT SER 1

Shares17.36K

TypeSH

Market value$8.14M

1.11%

Sole

0.00

Shared

0.00

None

17.36K

FIRST TR EXCH TRADED FD III

SOLE

PFD SECS INC ETF

Shares461.80K

TypeSH

Market value$8.12M

1.11%

Sole

0.00

Shared

0.00

None

461.80K

Issuer	Class	Shares	Type	Value / Portfolio %	None
ISHARES TRSOLE	MSCI USA QLT FCT	484.70K	SH	$82.83M 11.28%	484.70K
SCHWAB STRATEGIC TRSOLE	US DIVIDEND EQ	2.07M	SH	$57.96M 7.89%	2.07M
VANGUARD SPECIALIZED FUNDSSOLE	DIV APP ETF	185.82K	SH	$36.05M 4.91%	185.82K
INVESCO EXCHANGE TRADED FD TSOLE	S&P 500 GARP ETF	354.39K	SH	$35.40M 4.82%	354.39K
INVESCO EXCHANGE TRADED FD TSOLE	S&P500 EQL WGT	199.53K	SH	$34.56M 4.71%	199.53K
INVESCO ACTIVELY MANAGED EXCSOLE	TOTAL RETURN	714.83K	SH	$33.55M 4.57%	714.83K
APPLE INCSOLE	COM	134.97K	SH	$29.98M 4.08%	134.97K
HARTFORD FDS EXCHANGE TRADEDSOLE	TOTAL RTRN ETF	868.42K	SH	$29.40M 4.00%	868.42K
PGIM ETF TRSOLE	TOTAL RETURN BON	669.23K	SH	$27.93M 3.80%	669.23K
WISDOMTREE TRSOLE	US QTLY DIV GRT	299.77K	SH	$23.94M 3.26%	299.77K
SSGA ACTIVE ETF TRSOLE	SPDR TR TACTIC	514.76K	SH	$20.74M 2.82%	514.76K
SPDR SER TRSOLE	BLOOMBERG SHT TE	804.10K	SH	$20.23M 2.75%	804.10K
ISHARES TRSOLE	MSCI INTL QUALTY	441.11K	SH	$17.51M 2.38%	441.11K
VANECK ETF TRUSTSOLE	FALLEN ANGEL HG	519.55K	SH	$14.99M 2.04%	519.55K
PACER FDS TRSOLE	PACER US SMALL	384.42K	SH	$14.42M 1.96%	384.42K
VANGUARD WHITEHALL FDSSOLE	INTL DVD ETF	168.99K	SH	$14.02M 1.91%	168.99K
SCHWAB STRATEGIC TRSOLE	FUNDAMENTAL INTL	381K	SH	$13.77M 1.87%	381K
SPDR S&P 500 ETF TRSOLE	TR UNIT	23.13K	SH	$12.94M 1.76%	23.13K
FIRST TR EXCHANGE-TRADED FDSOLE	RISNG DIVD ACHIV	204.85K	SH	$11.99M 1.63%	204.85K
WISDOMTREE TRSOLE	EM EX ST-OWNED	318.47K	SH	$9.83M 1.34%	318.47K
MICROSOFT CORPSOLE	COM	24.44K	SH	$9.18M 1.25%	24.44K
NVIDIA CORPORATIONSOLE	COM	81.03K	SH	$8.78M 1.20%	81.03K
FIRST TR EXCHNG TRADED FD VISOLE	TCW OPPORTUNIS	194.98K	SH	$8.55M 1.16%	194.98K
INVESCO QQQ TRSOLE	UNIT SER 1	17.36K	SH	$8.14M 1.11%	17.36K
FIRST TR EXCH TRADED FD IIISOLE	PFD SECS INC ETF	461.80K	SH	$8.12M 1.11%	461.80K

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