HOWARD FINANCIAL SERVICES, LTD.

Filed: 7/2/2025ACC: 0001768130-25-000004

📋 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 $760.65M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

183

Positions

$760.65M

Total AUM (reported)

13.14M

Total Shares

Allocation by class

COM$107.82M14.2%

MSCI USA QLT FCT$90.85M11.9%

US DIVIDEND EQ$53.85M7.1%

DIV APP ETF$37.81M5.0%

S&P 500 GARP ETF$37.28M4.9%

S&P500 EQL WGT$36.12M4.7%

TOTAL RETURN$33.37M4.4%

Portfolio Concentration

Top 3$182.51M24.0%

4–10$219.78M28.9%

11–25$207.29M27.3%

Rest$151.07M19.9%

Top 3 weight

24.0%

Top 10 weight

52.9%

Voting Authority Distribution

Total shares with voting rights: 13.14M

Sole

Full voting authority

0.00

% of voting shares0.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

13.14M

% 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

Shares496.95K

TypeSH

Market value$90.85M

11.94%

Sole

0.00

Shared

0.00

None

496.95K

SCHWAB STRATEGIC TR

SOLE

US DIVIDEND EQ

Shares2.03M

TypeSH

Market value$53.85M

7.08%

Sole

0.00

Shared

0.00

None

2.03M

VANGUARD SPECIALIZED FUNDS

SOLE

DIV APP ETF

Shares184.73K

TypeSH

Market value$37.81M

4.97%

Sole

0.00

Shared

0.00

None

184.73K

INVESCO EXCHANGE TRADED FD T

SOLE

S&P 500 GARP ETF

Shares346.18K

TypeSH

Market value$37.28M

4.90%

Sole

0.00

Shared

0.00

None

346.18K

INVESCO EXCHANGE TRADED FD T

SOLE

S&P500 EQL WGT

Shares198.75K

TypeSH

Market value$36.12M

4.75%

Sole

0.00

Shared

0.00

None

198.75K

INVESCO ACTIVELY MANAGED EXC

SOLE

TOTAL RETURN

Shares711.73K

TypeSH

Market value$33.37M

4.39%

Sole

0.00

Shared

0.00

None

711.73K

HARTFORD FDS EXCHANGE TRADED

SOLE

TOTAL RTRN ETF

Shares885.86K

TypeSH

Market value$30.00M

3.94%

Sole

0.00

Shared

0.00

None

885.86K

WISDOMTREE TR

SOLE

US QTLY DIV GRT

Shares334.38K

TypeSH

Market value$28.00M

3.68%

Sole

0.00

Shared

0.00

None

334.38K

PGIM ETF TR

SOLE

TOTAL RETURN BON

Shares664.85K

TypeSH

Market value$27.81M

3.66%

Sole

0.00

Shared

0.00

None

664.85K

APPLE INC

SOLE

COM

Shares132.52K

TypeSH

Market value$27.19M

3.57%

Sole

0.00

Shared

0.00

None

132.52K

SPDR SER TR

SOLE

BLOOMBERG SHT TE

Shares842.35K

TypeSH

Market value$21.46M

2.82%

Sole

0.00

Shared

0.00

None

842.35K

SSGA ACTIVE ETF TR

SOLE

SPDR TR TACTIC

Shares526.42K

TypeSH

Market value$21.11M

2.78%

Sole

0.00

Shared

0.00

None

526.42K

ISHARES TR

SOLE

MSCI INTL QUALTY

Shares441.38K

TypeSH

Market value$19.08M

2.51%

Sole

0.00

Shared

0.00

None

441.38K

VANECK ETF TRUST

SOLE

FALLEN ANGEL HG

Shares552.88K

TypeSH

Market value$16.19M

2.13%

Sole

0.00

Shared

0.00

None

552.88K

VANGUARD WHITEHALL FDS

SOLE

INTL DVD ETF

Shares170.74K

TypeSH

Market value$15.39M

2.02%

Sole

0.00

Shared

0.00

None

170.74K

SCHWAB STRATEGIC TR

SOLE

FUNDAMENTAL INTL

Shares376.25K

TypeSH

Market value$15.06M

1.98%

Sole

0.00

Shared

0.00

None

376.25K

SPDR S&P 500 ETF TR

SOLE

TR UNIT

Shares23.85K

TypeSH

Market value$14.74M

1.94%

Sole

0.00

Shared

0.00

None

23.85K

FIRST TR EXCHANGE TRADED FD

SOLE

RISNG DIVD ACHIV

Shares212.22K

TypeSH

Market value$13.31M

1.75%

Sole

0.00

Shared

0.00

None

212.22K

NVIDIA CORPORATION

SOLE

COM

Shares77.99K

TypeSH

Market value$12.32M

1.62%

Sole

0.00

Shared

0.00

None

77.99K

PACER FDS TR

SOLE

US SMALL CAP CAS

Shares289.06K

TypeSH

Market value$11.51M

1.51%

Sole

0.00

Shared

0.00

None

289.06K

WISDOMTREE TR

SOLE

EM EX ST-OWNED

Shares304.37K

TypeSH

Market value$10.49M

1.38%

Sole

0.00

Shared

0.00

None

304.37K

MICROSOFT CORP

SOLE

COM

Shares21.05K

TypeSH

Market value$10.47M

1.38%

Sole

0.00

Shared

0.00

None

21.05K

INVESCO QQQ TR

SOLE

UNIT SER 1

Shares17.39K

TypeSH

Market value$9.60M

1.26%

Sole

0.00

Shared

0.00

None

17.39K

SCHWAB STRATEGIC TR

SOLE

US LCAP GR ETF

Shares289.90K

TypeSH

Market value$8.47M

1.11%

Sole

0.00

Shared

0.00

None

289.90K

VANECK ETF TRUST

SOLE

MRNGSTR WDE MOAT

Shares86.30K

TypeSH

Market value$8.09M

1.06%

Sole

0.00

Shared

0.00

None

86.30K

Issuer	Class	Shares	Type	Value / Portfolio %	None
ISHARES TRSOLE	MSCI USA QLT FCT	496.95K	SH	$90.85M 11.94%	496.95K
SCHWAB STRATEGIC TRSOLE	US DIVIDEND EQ	2.03M	SH	$53.85M 7.08%	2.03M
VANGUARD SPECIALIZED FUNDSSOLE	DIV APP ETF	184.73K	SH	$37.81M 4.97%	184.73K
INVESCO EXCHANGE TRADED FD TSOLE	S&P 500 GARP ETF	346.18K	SH	$37.28M 4.90%	346.18K
INVESCO EXCHANGE TRADED FD TSOLE	S&P500 EQL WGT	198.75K	SH	$36.12M 4.75%	198.75K
INVESCO ACTIVELY MANAGED EXCSOLE	TOTAL RETURN	711.73K	SH	$33.37M 4.39%	711.73K
HARTFORD FDS EXCHANGE TRADEDSOLE	TOTAL RTRN ETF	885.86K	SH	$30.00M 3.94%	885.86K
WISDOMTREE TRSOLE	US QTLY DIV GRT	334.38K	SH	$28.00M 3.68%	334.38K
PGIM ETF TRSOLE	TOTAL RETURN BON	664.85K	SH	$27.81M 3.66%	664.85K
APPLE INCSOLE	COM	132.52K	SH	$27.19M 3.57%	132.52K
SPDR SER TRSOLE	BLOOMBERG SHT TE	842.35K	SH	$21.46M 2.82%	842.35K
SSGA ACTIVE ETF TRSOLE	SPDR TR TACTIC	526.42K	SH	$21.11M 2.78%	526.42K
ISHARES TRSOLE	MSCI INTL QUALTY	441.38K	SH	$19.08M 2.51%	441.38K
VANECK ETF TRUSTSOLE	FALLEN ANGEL HG	552.88K	SH	$16.19M 2.13%	552.88K
VANGUARD WHITEHALL FDSSOLE	INTL DVD ETF	170.74K	SH	$15.39M 2.02%	170.74K
SCHWAB STRATEGIC TRSOLE	FUNDAMENTAL INTL	376.25K	SH	$15.06M 1.98%	376.25K
SPDR S&P 500 ETF TRSOLE	TR UNIT	23.85K	SH	$14.74M 1.94%	23.85K
FIRST TR EXCHANGE TRADED FDSOLE	RISNG DIVD ACHIV	212.22K	SH	$13.31M 1.75%	212.22K
NVIDIA CORPORATIONSOLE	COM	77.99K	SH	$12.32M 1.62%	77.99K
PACER FDS TRSOLE	US SMALL CAP CAS	289.06K	SH	$11.51M 1.51%	289.06K
WISDOMTREE TRSOLE	EM EX ST-OWNED	304.37K	SH	$10.49M 1.38%	304.37K
MICROSOFT CORPSOLE	COM	21.05K	SH	$10.47M 1.38%	21.05K
INVESCO QQQ TRSOLE	UNIT SER 1	17.39K	SH	$9.60M 1.26%	17.39K
SCHWAB STRATEGIC TRSOLE	US LCAP GR ETF	289.90K	SH	$8.47M 1.11%	289.90K
VANECK ETF TRUSTSOLE	MRNGSTR WDE MOAT	86.30K	SH	$8.09M 1.06%	86.30K

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