LEE DANNER & BASS INC

2. Key Holdings

The portfolio is characterized by a dominant "anchor" position, followed by a tier of large-cap growth and value stocks.

• HCA Healthcare (HCA): This is the standout position, comprising a massive 27.91% of the portfolio ($167.78M). This represents an exceptionally high concentration in a single stock, signaling strong conviction in the healthcare provider sector or a specific valuation thesis on HCA relative to the market.
• Alphabet (GOOG/GOOGL): The firm maintains significant exposure to Alphabet, with a combined position (Class C and Class A) representing roughly 9.1% of the portfolio. This underscores a bullish view on the advertising and cloud sectors.
• Financials & Tech: Goldman Sachs (GS) (4.68%) and Visa (V) (3.61%) represent the core financial holdings, while NVIDIA (NVDA) (2.36%) and Meta (META) (2.31%) provide exposure to secular technology trends.
• Niche Positions: The firm holds substantial positions in smaller or specialized companies such as Pinnacle Financial Partners (3.12%), CoreCivic (1.64%), and Viasat (1.36%), suggesting a willingness to invest in mid-cap and specific industry verticals outside of the standard mega-cap tech favorites.