A Texas mutual fund team is mourning its co-founder.

Joe Simnacher of the Dallas Morning News reports that Donald Wayne Hodges, 80, died on Wednesday at Texas Health Presbyterian Hospital Dallas. In 1989, Hodges co-founded Dallas-based Hodges Capital Management [profile] with his son, current Hodges CEO and chief investment officer Craig Hodges.

A native of Canadian, Texas and an alumnus of what is now West Texas A&M University, the elder Hodges sold radio advertising before getting into stock picking in the 1958 when he bought a few Pepsi shares. He became a Merrill Lynch broker in 1960, and he later rose to president of Rauscher Pierce Refines (now RBC Dain Rauscher).

The elder Hodges was actively involved with both the W.A. Criswell Foundation and with his alma mater's foundation.

Hodges Capital Management is a bottom-up stock-picking shop, both an SMA manager and a $1.974-billion mutual fund shop with seven funds. The elder Hodges had served as a PM and as chairman of HCM's investments committee.

"He would give you as much time as you needed, no matter how much money you had," Craig Hodges told the Dallas paper. "He felt a lot of satisfaction when he could help people who really needed help."

The elder is survived by a wife, two sons, a daughter, two brothers, a sister, nine grandchildren, and two great-grandchildren. Visitation is scheduled for 3:30-5:30pm on Sunday at the Sparkman/Hillcrest Funeral Home in Dallas, and services are slated for 1:30pm at Hodges' church, the First Baptist Church of Dallas. 

Edited by: Neil Anderson, Managing Editor


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