SANDERS MORRIS HARRIS INC.

Long Only Manager • Value

SANDERS MORRIS HARRIS INC. is a Value-focused institution based in Chicago, IL led by David Gregory Herro, reporting $93.8B in AUM as of Q3 2025 with 57% concentrated in top 10 holdings and 20% allocation to QQQ.

ChairmanDavid Gregory Herro

Portfolio Value: $750.1M
Positions: 300
Top Holding: QQQ at 20.38%
Last Reported: Q3 2025

Address111 S. Wacker Drive, Suite 4600, Chicago, IL, 60606, United States

Top Holdings

Largest long holdings in SANDERS MORRIS HARRIS INC.'s portfolio (56.7% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Invesco QQQ Trust QQQ	ETF ETF	$152.9M	20.38%	+$20.2M Bought	— 254.6K shares	Q1 2016 Held for 9y 8m
2 Blackstone BX	Asset Management Financial Services	$91.1M	12.15%	+$2.4M Bought	0.07% 533.4K shares	Q1 2016 Held for 9y 8m
3 Nvidia NVDA	Semiconductors Technology	$34.9M	4.65%	+$28.8M Bought	0.00% 186.9K shares	Q2 2019 Held for 6y 5m
4 Capital Southwest CSWC	Asset Management Financial Services	$29.9M	3.99%	-$475.1K Sold	2.46% 1.4M shares	Q3 2018 Held for 7y 2m
5 Apple AAPL	Consumer Electronics Technology	$29.0M	3.87%	+$18.7M Bought	0.00% 113.9K shares	Q1 2016 Held for 9y 8m
6 SPDR S&P 500 ETF Trust SPY	ETF ETF	$26.3M	3.50%	+$25.8M Bought	— 39.4K shares	Q1 2016 Held for 9y 8m
7 Enterprise Products Partners EPD	Oil & Gas Midstream Energy	$22.1M	2.95%	-$883.4K Sold	0.03% 706.8K shares	Q1 2016 Held for 9y 8m
8 MSC Income Fund, Inc. MSIF	Unknown Unknown	$14.9M	1.99%	+$1.0M Bought	2.40% 1.1M shares	Q2 2025 Held for 5 months
9 Main Street Capital MAIN	Asset Management Financial Services	$13.0M	1.73%	-$604.6K Sold	0.23% 203.8K shares	Q1 2016 Held for 9y 8m
10 Schlumberger SLB	Oil & Gas Equipment & Services Energy	$11.4M	1.51%	+$4.3M Bought	0.02% 330.6K shares	Q1 2024 Held for 1y 8m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in SANDERS MORRIS HARRIS INC.'s latest filing

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Market Value

$750.1M

Prior: $418.8M

Q/Q Change

+79.11%

+$331.3M

Net Flows % of MV

+21.32%

Turnover Ratio

23.71%

New Purchases

23 stocks

$21.4M

Added To

64 stocks

+$164.6M

Sold Out Of

22 stocks

$21.9M

Reduced Holdings

23 stocks

-$4.2M

Increased Positions

Position	Shares Δ	Change
1 JBS N.V. JBS	New	0 → 194.8K +$2.9M
2 Costco Wholesale COST	New	0 → 2.9K +$2.7M
3 Astera Labs, Inc. ALAB	New	0 → 12.6K +$2.5M
4 89bio, Inc. ETNB	New	0 → 163.9K +$2.4M
5 Lennar LEN	New	0 → 17.5K +$2.2M

Decreased Positions

Position	Shares Δ	Change
1 iShares Russell 1000 Growth IWF	Sold	14.4K → 0 −$6.1M
2 Elanco Animal Health Inc. ELAN	Sold	286.3K → 0 −$4.1M
3 Uber Technologies UBER	Sold	32.0K → 0 −$3.0M
4 Wynn Resorts WYNN	Sold	25.5K → 0 −$2.4M
5 BABA Alibaba Group Holding Limited BABA	Sold	13.0K → 0 −$1.5M

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Analytics

Portfolio insights and performance metrics for SANDERS MORRIS HARRIS INC.

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Sector Allocation

ETF

25.80%

Financial Services

22.40%

Technology

19.00%

Energy

7.40%

Healthcare

6.20%

Industrials

4.50%

Communication Services

3.20%

Consumer Cyclical

2.80%

Consumer Defensive

2.30%

Basic Materials

1.50%

Utilities

0.30%

Real Estate

0.10%

Market Cap Distribution

Mega Cap (> $200B)

23.20%

Large Cap ($10B - $200B)

32.84%

Mid Cap ($2B - $10B)

6.38%

Small Cap ($300M - $2B)

7.56%

Micro Cap ($50M - $300M)

1.37%

Nano Cap (< $50M)

0.79%

N/A (ETF or Unknown)

27.86%

Portfolio Concentration

Top 10 Holdings %

56.72%

Top 20 Holdings %

65.32%

Top 50 Holdings %

78.48%

Top 100 Holdings %

88.28%