HOWARD FINANCIAL SERVICES, LTD.

Filed: 7/7/2026ACC: 0001768130-26-000003

📋 What this filing means

HOWARD FINANCIAL SERVICES, LTD. filed this quarterly 13F‑HR report disclosing 268 equity positions with a total reported market value of $1.00B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

268

Positions

$1.00B

Total AUM (reported)

15.36M

Total Shares

Allocation by class

COM$170.14M17.0%

MSCI USA QLT FCT$112.69M11.3%

US DIVIDEND EQ$61.95M6.2%

DIV APP ETF$47.46M4.7%

S&P 500 GARP ETF$40.10M4.0%

S&P500 EQL WGT$39.87M4.0%

US QTLY DIV GRT$38.11M3.8%

Portfolio Concentration

Top 3$222.10M22.2%

4–10$262.39M26.2%

11–25$270.25M27.0%

Rest$246.73M24.6%

Top 3 weight

22.2%

Top 10 weight

48.4%

Voting Authority Distribution

Total shares with voting rights: 15.36M

Sole

Full voting authority

0.00

% of voting shares0.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

15.36M

% of voting shares100.0%

Investment Discretion (by position count)

Sole268

Shared0

Other0

Dominant voting typeNone · 100.0% of voting shares

Institutional Holdings268

Rows:

ISHARES TR

SOLE

MSCI USA QLT FCT

Shares513.56K

TypeSH

Market value$112.69M

11.25%

Sole

0.00

Shared

0.00

None

513.56K

SCHWAB STRATEGIC TR

SOLE

US DIVIDEND EQ

Shares1.95M

TypeSH

Market value$61.95M

6.19%

Sole

0.00

Shared

0.00

None

1.95M

VANGUARD SPECIALIZED FUNDS

SOLE

DIV APP ETF

Shares200.59K

TypeSH

Market value$47.46M

4.74%

Sole

0.00

Shared

0.00

None

200.59K

APPLE INC

SOLE

COM

Shares138.69K

TypeSH

Market value$40.13M

4.01%

Sole

0.00

Shared

0.00

None

138.69K

INVESCO EXCHANGE TRADED FD T

SOLE

S&P 500 GARP ETF

Shares327.93K

TypeSH

Market value$40.10M

4.00%

Sole

0.00

Shared

0.00

None

327.93K

INVESCO EXCHANGE TRADED FD T

SOLE

S&P500 EQL WGT

Shares187.40K

TypeSH

Market value$39.87M

3.98%

Sole

0.00

Shared

0.00

None

187.40K

WISDOMTREE TR

SOLE

US QTLY DIV GRT

Shares398.57K

TypeSH

Market value$38.11M

3.81%

Sole

0.00

Shared

0.00

None

398.57K

INVESCO ACTIVELY MANAGED EXC

SOLE

TOTAL RETURN

Shares799.60K

TypeSH

Market value$37.48M

3.74%

Sole

0.00

Shared

0.00

None

799.60K

HARTFORD FDS EXCHANGE TRADED

SOLE

TOTAL RTRN ETF

Shares1.02M

TypeSH

Market value$34.28M

3.42%

Sole

0.00

Shared

0.00

None

1.02M

PGIM ETF TR

SOLE

TOTAL RETURN BON

Shares781.74K

TypeSH

Market value$32.41M

3.24%

Sole

0.00

Shared

0.00

None

781.74K

SCHWAB STRATEGIC TR

SOLE

US LCAP GR ETF

Shares816.71K

TypeSH

Market value$27.64M

2.76%

Sole

0.00

Shared

0.00

None

816.71K

ISHARES TR

SOLE

MSCI INTL QUALTY

Shares517K

TypeSH

Market value$25.62M

2.56%

Sole

0.00

Shared

0.00

None

517K

FIRST TR EXCHANGE TRADED FD

SOLE

RISNG DIVD ACHIV

Shares299.67K

TypeSH

Market value$24.29M

2.43%

Sole

0.00

Shared

0.00

None

299.67K

SCHWAB STRATEGIC TR

SOLE

FUNDAMENTAL INTL

Shares451.26K

TypeSH

Market value$23.81M

2.38%

Sole

0.00

Shared

0.00

None

451.26K

VANECK ETF TRUST

SOLE

FALLEN ANGEL HG

Shares690.64K

TypeSH

Market value$20.19M

2.02%

Sole

0.00

Shared

0.00

None

690.64K

SSGA ACTIVE ETF TR

SOLE

STATE STREET DOU

Shares492.36K

TypeSH

Market value$19.43M

1.94%

Sole

0.00

Shared

0.00

None

492.36K

VANGUARD WHITEHALL FDS

SOLE

INTL DVD ETF

Shares197.38K

TypeSH

Market value$18.43M

1.84%

Sole

0.00

Shared

0.00

None

197.38K

WISDOMTREE TR

SOLE

EM EX ST-OWNED

Shares372.71K

TypeSH

Market value$18.33M

1.83%

Sole

0.00

Shared

0.00

None

372.71K

STATE STR SPDR S&P 500 ETF T

SOLE

TR UNIT

Shares23.79K

TypeSH

Market value$17.76M

1.77%

Sole

0.00

Shared

0.00

None

23.79K

SPDR SERIES TRUST

SOLE

STATE STREET SPD

Shares670.02K

TypeSH

Market value$16.77M

1.67%

Sole

0.00

Shared

0.00

None

670.02K

NVIDIA CORPORATION

SOLE

COM

Shares82.04K

TypeSH

Market value$16.42M

1.64%

Sole

0.00

Shared

0.00

None

82.04K

INVESCO QQQ TR

SOLE

UNIT SER 1

Shares16.64K

TypeSH

Market value$12.25M

1.22%

Sole

0.00

Shared

0.00

None

16.64K

VANECK ETF TRUST

SOLE

MRNGSTR WDE MOAT

Shares97.69K

TypeSH

Market value$10.16M

1.01%

Sole

0.00

Shared

0.00

None

97.69K

VANGUARD MALVERN FDS

SOLE

CORE-PLUS BD ETF

Shares125.34K

TypeSH

Market value$9.72M

0.97%

Sole

0.00

Shared

0.00

None

125.34K

MICROSOFT CORP

SOLE

COM

Shares25.26K

TypeSH

Market value$9.42M

0.94%

Sole

0.00

Shared

0.00

None

25.26K

Issuer	Class	Shares	Type	Value / Portfolio %	None
ISHARES TRSOLE	MSCI USA QLT FCT	513.56K	SH	$112.69M 11.25%	513.56K
SCHWAB STRATEGIC TRSOLE	US DIVIDEND EQ	1.95M	SH	$61.95M 6.19%	1.95M
VANGUARD SPECIALIZED FUNDSSOLE	DIV APP ETF	200.59K	SH	$47.46M 4.74%	200.59K
APPLE INCSOLE	COM	138.69K	SH	$40.13M 4.01%	138.69K
INVESCO EXCHANGE TRADED FD TSOLE	S&P 500 GARP ETF	327.93K	SH	$40.10M 4.00%	327.93K
INVESCO EXCHANGE TRADED FD TSOLE	S&P500 EQL WGT	187.40K	SH	$39.87M 3.98%	187.40K
WISDOMTREE TRSOLE	US QTLY DIV GRT	398.57K	SH	$38.11M 3.81%	398.57K
INVESCO ACTIVELY MANAGED EXCSOLE	TOTAL RETURN	799.60K	SH	$37.48M 3.74%	799.60K
HARTFORD FDS EXCHANGE TRADEDSOLE	TOTAL RTRN ETF	1.02M	SH	$34.28M 3.42%	1.02M
PGIM ETF TRSOLE	TOTAL RETURN BON	781.74K	SH	$32.41M 3.24%	781.74K
SCHWAB STRATEGIC TRSOLE	US LCAP GR ETF	816.71K	SH	$27.64M 2.76%	816.71K
ISHARES TRSOLE	MSCI INTL QUALTY	517K	SH	$25.62M 2.56%	517K
FIRST TR EXCHANGE TRADED FDSOLE	RISNG DIVD ACHIV	299.67K	SH	$24.29M 2.43%	299.67K
SCHWAB STRATEGIC TRSOLE	FUNDAMENTAL INTL	451.26K	SH	$23.81M 2.38%	451.26K
VANECK ETF TRUSTSOLE	FALLEN ANGEL HG	690.64K	SH	$20.19M 2.02%	690.64K
SSGA ACTIVE ETF TRSOLE	STATE STREET DOU	492.36K	SH	$19.43M 1.94%	492.36K
VANGUARD WHITEHALL FDSSOLE	INTL DVD ETF	197.38K	SH	$18.43M 1.84%	197.38K
WISDOMTREE TRSOLE	EM EX ST-OWNED	372.71K	SH	$18.33M 1.83%	372.71K
STATE STR SPDR S&P 500 ETF TSOLE	TR UNIT	23.79K	SH	$17.76M 1.77%	23.79K
SPDR SERIES TRUSTSOLE	STATE STREET SPD	670.02K	SH	$16.77M 1.67%	670.02K
NVIDIA CORPORATIONSOLE	COM	82.04K	SH	$16.42M 1.64%	82.04K
INVESCO QQQ TRSOLE	UNIT SER 1	16.64K	SH	$12.25M 1.22%	16.64K
VANECK ETF TRUSTSOLE	MRNGSTR WDE MOAT	97.69K	SH	$10.16M 1.01%	97.69K
VANGUARD MALVERN FDSSOLE	CORE-PLUS BD ETF	125.34K	SH	$9.72M 0.97%	125.34K
MICROSOFT CORPSOLE	COM	25.26K	SH	$9.42M 0.94%	25.26K

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