Institutional Manager · CIK 0001512858

NFC Investments, LLC

MEMPHIS, TN · File #028-14237

Latest AUM

$354.2M

Positions

Top-10 Concentration

68.1%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
EXITED	AMERICAN INTL GROUP INC	026874784	-102,938	-$8,085	$0
NEW	U HAUL HOLDING COMPANY	UHAL-B	+144,212	+$6,740	$0
ADD	FIDELIS INSURANCE HOLDINGS LTD	FIHL	+273,075	+$5,344	+$762
ADD	TARGA RES CORP	TRGP	+16,793	+$3,098	+$858
REDUCE	WESTROCK COFFEE CO	WEST	-343,752	-$1,399	-$3,232
REDUCE	ALPHABET INC CAP STK	GOOG	-2,203	-$691	+$7,757
REDUCE	MGIC INVESTMENT CORP	552848103	-23,001	-$672	+$1,537
ADD	ENERGY TRANSFER L P	ET-PI	+29,297	+$483	-$296
ADD	STARWOOD PPTY TR INC	STHO	+20,277	+$365	-$902
REDUCE	AMERICAN EXPRESS CO	AXP	-822	-$304	+$1,496

Sector Allocation

Financials

12.8%$45,419

Consumer Staples

9.3%$32,764

Energy

8.0%$28,486

Consumer Discretionary

5.4%$19,121

Real Estate

3.5%$12,317

Technology

0.4%$1,566

Industrials

0.1%$311

Filing History

Feb 11, 202613F HOLDINGS REPORTQ/E Dec 202543 pos · $354.2M
Nov 12, 202513F HOLDINGS REPORTQ/E Sep 202543 pos · $345.5M
Aug 12, 202513F HOLDINGS REPORTQ/E Jun 202536 pos · $349.7M
May 14, 202513F HOLDINGS REPORTQ/E Mar 202536 pos · $336.4M
Feb 10, 202513F HOLDINGS REPORTQ/E Dec 202437 pos · $362,365
Nov 14, 202413F HOLDINGS REPORTQ/E Sep 202435 pos · $348.1M
Aug 12, 202413F HOLDINGS REPORTQ/E Jun 202436 pos · $348.6M
May 10, 202413F HOLDINGS REPORTQ/E Mar 202432 pos · $347.7M

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	MGIC INVESTMENT CORP	552848103	1,785,378	$52,169	14.73%
2	APOLLO GLOBAL MGMT INC	03769M106	294,178	$42,585	12.02%
3	ALPHABET INC CAP STK	GOOG	108,223	$33,960	9.59%
4	AUTOZONE INC	AZO	5,638	$19,121	5.40%
5	PROGRESSIVE CORP OHIO	743315103	82,413	$18,767	5.30%
6	DARLING INGREDIENTS INC	DAR	462,356	$16,645	4.70%
7	FIDELIS INSURANCE HOLDINGS LTD	FIHL	809,454	$15,841	4.47%
8	WESTROCK COFFEE CO	WEST	3,745,959	$15,245	4.30%
9	AMERICAN EXPRESS CO	AXP	38,783	$14,347	4.05%
10	TARGA RES CORP	TRGP	67,396	$12,434	3.51%
11	STARWOOD PPTY TR INC	STHO	683,889	$12,317	3.48%
12	LENNAR CORP	LEN-B	113,311	$10,778	3.04%
13	EVEREST RE GROUP LTD	EG	29,202	$9,910	2.80%
14	RANGE RES CORP	RRC	269,478	$9,502	2.68%
15	TRIUMPH FINANCIAL INC	TFIN-P	127,158	$7,964	2.25%
16	ENERGY TRANSFER L P	ET-PI	471,236	$7,771	2.19%
17	OLD REP INTL CORP	680223104	157,500	$7,188	2.03%
18	U HAUL HOLDING COMPANY	UHAL-B	144,212	$6,740	1.90%
19	KINDER MORGAN INC DEL	EP-PC	225,600	$6,201	1.75%
20	VIPER ENERGY INC	VNOM	127,652	$4,931	1.39%