First Financial Bankshares Inc
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), First Financial Bankshares Inc reported 172 stock positions worth $4.6 billion. Its top holding was First Finl Bankshares (FFIN) at 13.4% of the portfolio, followed by Microsoft (MSFT, 5.1%) and JPMorgan Chase (JPM, 4.2%). Compared with Q4 2024, it opened 14 new positions, sold out of 12, added to 67 and reduced 57. The biggest buy was a new position in BlackRock (BLK) and the biggest sale Vanguard S&P 500 ETF (VOO, shares −69%).
- Most Recent 13F
- Q2 2026
- Location
- Abilene, TX
- CIK
- 0000036029
- Portfolio Value
- $4.6B (Q1 2025)
- SEC Filing
- 0000950123-25-005755 ↗ filed May 15, 2025
Holdings Value
Holdings 172 stocks · $4.6B
| FFIN First Finl Bankshares Inc. | 13.42% | 17,313,305 | $621.9M | Reduce 0.0% |
| MSFT Microsoft Corp. | 5.08% | 626,821 | $235.3M | Add +19.7% |
| JPM JPMorgan Chase & Co. | 4.16% | 786,589 | $193.0M | Add +0.3% |
| BND Vanguard Total Bond Market | 3.90% | 2,458,158 | $180.6M | Add +2.6% |
| AAPL Apple Inc. | 3.68% | 768,522 | $170.7M | Add +2.9% |
| IJH iShares Core S&P Midcap ETF | 3.37% | 2,676,577 | $156.2M | Add +1.5% |
| AVGO Broadcom Inc. | 2.89% | 800,772 | $134.1M | Add +11.8% |
| JNJ Johnson & Johnson | 2.41% | 673,083 | $111.6M | Add +4.3% |
| VEA Vanguard Ftse Developed ETF | 2.37% | 2,160,027 | $109.8M | Add +1.1% |
| CVX Chevron Corp. | 2.26% | 625,317 | $104.6M | Add +0.9% |
| BX Blackstone Inc. | 2.20% | 728,439 | $101.8M | Add +0.3% |
| MCD McDonald's Corp. | 2.11% | 313,292 | $97.9M | Add +0.1% |
| GOOGL Alphabet Inc. Class A | 2.00% | 600,659 | $92.9M | Add +46.8% |
| WMB Williams Cos Inc. | 1.92% | 1,485,528 | $88.8M | Reduce -2.4% |
| VCSH Vanguard S/T Corp. Bond ETF | 1.72% | 1,007,704 | $79.5M | Add +2.8% |
| MDLZ Mondelez International Inc. Class A | 1.66% | 1,135,133 | $77.0M | Reduce -6.4% |
| HON Honeywell International Inc. | 1.61% | 353,247 | $74.8M | Add +1.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.50% | 1,663,914 | $69.4M | Add +14.7% |
| VGSH Vanguard Short-Term Treasury | 1.49% | 1,178,847 | $69.2M | Add +1.8% |
| PEP Pepsico Inc. | 1.49% | 460,696 | $69.1M | Add +4.6% |
| AMGN Amgen Inc. | 1.48% | 219,612 | $68.4M | Reduce -4.1% |
| AEP American Electric Power | 1.46% | 621,355 | $67.9M | Add +1.1% |
| BLK BlackRock Inc. | 1.42% | 69,314 | $65.6M | New |
| KO The Coca-Cola Co. | 1.41% | 911,433 | $65.3M | Reduce -5.6% |
| MRK Merck & Co. Inc. | 1.34% | 694,223 | $62.3M | Reduce -17.8% |
| CSCO Cisco Systems Inc. | 1.33% | 1,002,442 | $61.9M | Add +1.1% |
| COP Conocophillips | 1.31% | 576,005 | $60.5M | Add +3.4% |
| AMZN Amazon.com Inc. | 1.29% | 315,396 | $60.0M | Add +2.6% |
| MDT Medtronic PLC | 1.29% | 665,475 | $59.8M | Add +3.6% |
| ETN Eaton Corp. PLC | 1.26% | 215,159 | $58.5M | Add +1.2% |
| NEE Nextera Energy Inc. | 1.20% | 786,525 | $55.8M | Add +7.3% |
| LMT Lockheed Martin Corp. | 1.08% | 112,297 | $50.2M | Add +0.2% |
| C Citigroup Inc. | 1.02% | 668,121 | $47.4M | Reduce -0.1% |
| HD Home Depot Inc. | 1.00% | 126,233 | $46.3M | Add +1.4% |
| NVDA Nvidia Corp. | 0.98% | 417,582 | $45.3M | Add +3.4% |
| META Meta Platforms Inc. Class A | 0.97% | 77,959 | $44.9M | Reduce -1.5% |
| WMT Walmart Inc. | 0.94% | 496,318 | $43.6M | Reduce -1.2% |
| VWO Vanguard Ftse Emerging Marke | 0.93% | 954,066 | $43.2M | Add +0.9% |
| VMBS Vanguard Mortgage-Backed Sec | 0.89% | 890,813 | $41.3M | Add +3.5% |
| NI Nisource Inc. | 0.86% | 998,635 | $40.0M | Add +0.1% |
| MA Mastercard Inc. Class A | 0.78% | 66,074 | $36.2M | Add +1.7% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.75% | 441,629 | $34.8M | Reduce -27.8% |
| LHX L3HARRIS Technologies Inc. | 0.73% | 161,614 | $33.8M | Add +16324.2% |
| ARE Alexandria Real Estate Equit | 0.67% | 336,749 | $31.2M | Add +15.9% |
| AMT American Tower Corp. | 0.62% | 132,128 | $28.8M | Add +3.7% |
| VNQ Vanguard Real Estate ETF | 0.60% | 308,113 | $27.9M | Reduce -34.7% |
| IJR iShares Core S&P Small-Cap E | 0.55% | 241,781 | $25.3M | Reduce -0.0% |
| NVS Novartis AG-Sponsored ADR | 0.52% | 217,419 | $24.2M | Add +1.3% |
| SLB SLB Ltd. filed as SCHLUMBERGER LTD | 0.50% | 552,606 | $23.1M | Add +8.4% |
| SBUX Starbucks Corp. | 0.50% | 234,580 | $23.0M | Reduce -31.4% |
| KRE SS SPDR S&P Regional Bank | 0.48% | 388,945 | $22.1M | Add +0.5% |
| VCIT Vanguard Int-Term Corporate | 0.46% | 258,991 | $21.2M | Add +1.7% |
| CRM Salesforce Inc. | 0.45% | 77,292 | $20.7M | Add +39.6% |
| UNP Union Pacific Corp. | 0.45% | 87,797 | $20.7M | Add +2.9% |
| NOW ServiceNow Inc. | 0.45% | 25,992 | $20.7M | Add +22.5% |
| UNH Unitedhealth Group Inc. | 0.44% | 39,111 | $20.5M | Add +2.4% |
| INVH Invitation Homes Inc. | 0.40% | 527,436 | $18.4M | Reduce -50.0% |
| ADBE Adobe Inc. | 0.38% | 45,578 | $17.5M | Add +15.7% |
| IYT iShares US Transportation Et | 0.38% | 272,059 | $17.4M | Add +1.8% |
| CMCSA Comcast Corp. Class A | 0.36% | 453,862 | $16.7M | Reduce -43.0% |
| SPGI S&P Global Inc. | 0.33% | 29,813 | $15.1M | Add +1.9% |
| ABT Abbott Laboratories | 0.32% | 110,706 | $14.7M | Add +1.2% |
| ORCL Oracle Corp. | 0.31% | 102,167 | $14.3M | Add +5401.7% |
| VGLT Vanguard Long-Term Treasury | 0.30% | 240,500 | $13.9M | Add +31.5% |
| O Realty Income Corp. | 0.24% | 189,758 | $11.0M | Add +0.7% |
| PFE Pfizer Inc. | 0.23% | 416,170 | $10.5M | Add +4.7% |
| CPT Camden Property Trust | 0.22% | 84,922 | $10.4M | Reduce -48.0% |
| VOO Vanguard S&P 500 ETF | 0.20% | 18,250 | $9.4M | Reduce -68.7% |
| AMD Advanced Micro Devices | 0.20% | 88,223 | $9.1M | Add +2.1% |
| AES AES Corp. | 0.17% | 616,965 | $7.7M | Add +301.4% |
| XOM Exxon Mobil Corp. | 0.15% | 57,572 | $6.8M | Reduce -0.4% |
| PANW Palo Alto Networks Inc. | 0.13% | 36,427 | $6.2M | Add +0.3% |
| EFA iShares MSCI Eafe ETF | 0.13% | 74,933 | $6.1M | Reduce -0.6% |
| UBER Uber Technologies Inc. | 0.12% | 77,831 | $5.7M | New |
| IWB iShares Russell 1000 ETF | 0.10% | 15,444 | $4.7M | No change |
| UTHR United Therapeutics Corp. | 0.09% | 13,769 | $4.2M | Add +0.3% |
| BKNG Booking Holdings Inc. | 0.09% | 868 | $4.0M | Add +3.8% |
| IVV iShares Core S&P 500 ETF | 0.08% | 6,455 | $3.6M | Reduce -9.2% |
| INCY Incyte Corp. | 0.08% | 57,921 | $3.5M | Add +44.6% |
| ISRG Intuitive Surgical Inc. | 0.07% | 6,616 | $3.3M | Add +5.3% |
| NBIX Neurocrine Biosciences Inc. | 0.07% | 27,771 | $3.1M | Add +3.1% |
| GTLS Chart Industries Inc. | 0.06% | 18,750 | $2.7M | Reduce -43.5% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.06% | 4,706 | $2.6M | Reduce -0.1% |
| LRCX Lam Research Corp. | 0.06% | 35,749 | $2.6M | New |
| MAIN Main Street Capital Corp. | 0.05% | 39,851 | $2.3M | Reduce -0.9% |
| TSLA Tesla Inc. | 0.05% | 8,439 | $2.2M | Add +3.5% |
| EEM iShares MSCI Emerging Market | 0.04% | 43,894 | $1.9M | Reduce -0.1% |
| KLAC KLA Corp. | 0.04% | 2,458 | $1.7M | Reduce -4.1% |
| GOOG Alphabet Inc. Class C | 0.04% | 10,453 | $1.6M | Add +13.0% |
| SF Stifel Financial Corp. | 0.04% | 17,243 | $1.6M | No change |
| CHE Chemed Corp. | 0.03% | 2,308 | $1.4M | No change |
| AGG iShares Core U.S. Aggregate | 0.03% | 13,374 | $1.3M | New |
| BRK.B Berkshire Hathaway Inc. Class B | 0.03% | 2,309 | $1.2M | Reduce -2.0% |
| PB Prosperity Bancshares Inc. | 0.02% | 15,778 | $1.1M | No change |
| VGIT Vanguard Intermediate-Term T | 0.02% | 18,482 | $1.1M | Reduce -25.5% |
| V Visa Inc. Class A | 0.02% | 3,124 | $1.1M | Add +17.3% |
| SCHD Schwab US DVD Equity ETF | 0.02% | 38,990 | $1.1M | Add +199.7% |
| MCK McKesson Corp. | 0.02% | 1,450 | $976K | Reduce -3.3% |
| RSG Republic Services Inc. | 0.02% | 3,998 | $968K | Reduce -2.4% |
| ABBV Abbvie Inc. | 0.02% | 4,470 | $937K | Reduce -11.3% |
Portfolio Sells Q4 2024 → Q1 2025
| VOO Vanguard S&P 500 ETF | Reduce -68.7% | 0.20% | −0.48 |
| MRK Merck & Co. Inc. | Reduce -17.8% | 1.34% | −0.47 |
| INVH Invitation Homes Inc. | Reduce -50.0% | 0.40% | −0.33 |
| LOW Lowe's Cos Inc. | Reduce -97.0% | 0.01% | −0.33 |
| VNQ Vanguard Real Estate ETF | Reduce -34.7% | 0.60% | −0.31 |
| CMCSA Comcast Corp. Class A | Reduce -43.0% | 0.36% | −0.28 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Reduce -27.8% | 0.75% | −0.25 |
| CIFR Cipher Digital Inc. | Sold out | 0.00% | −0.24 |
| DHR Danaher Corp. | Reduce -97.4% | 0.01% | −0.21 |
| CPT Camden Property Trust | Reduce -48.0% | 0.22% | −0.19 |
| WDAY Workday Inc. Class A | Sold out | 0.00% | −0.18 |
| SBUX Starbucks Corp. | Reduce -31.4% | 0.50% | −0.18 |
| LW Lamb Weston Holdings Inc. | Sold out | 0.00% | −0.13 |
| FFIN First Finl Bankshares Inc. | Reduce 0.0% | 13.42% | −0.08 |
| GTLS Chart Industries Inc. | Reduce -43.5% | 0.06% | −0.08 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -88.0% | 0.01% | −0.08 |
| GNRC Generac Holdings Inc. | Sold out | 0.00% | −0.06 |
| IJR iShares Core S&P Small-Cap E | Reduce -0.0% | 0.55% | −0.06 |
| ROP Roper Technologies Inc. | Sold out | 0.00% | −0.05 |
| EQIX Equinix Inc. | Reduce -88.4% | 0.01% | −0.05 |
| WMT Walmart Inc. | Reduce -1.2% | 0.94% | −0.04 |
| META Meta Platforms Inc. Class A | Reduce -1.5% | 0.97% | −0.03 |
| LULU Lululemon Athletica Inc. | Sold out | 0.00% | −0.03 |
| CORZ Core Scientific Inc. | Sold out | 0.00% | −0.02 |
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -50.0% | 0.02% | −0.01 |
| IVV iShares Core S&P 500 ETF | Reduce -9.2% | 0.08% | −0.01 |
| MUB iShares National Muni Bond E | Sold out | 0.00% | −0.01 |
| DHI D.R. Horton Inc. | Sold out | 0.00% | −0.01 |
| VGIT Vanguard Intermediate-Term T | Reduce -25.5% | 0.02% | −0.01 |
| CBZ Cbiz Inc. | Reduce -50.0% | 0.00% | −0.01 |
| IWR iShares Russell Mid-Cap ETF | Reduce -23.2% | 0.02% | −0.01 |
| DIS The Walt Disney Co. | Sold out | 0.00% | −0.00 |
| KWR Quaker Chemical Corporation | Sold out | 0.00% | −0.00 |
| PYPL PayPal Holdings Inc. | Reduce -13.5% | 0.01% | −0.00 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -0.1% | 0.06% | −0.00 |
| MAIN Main Street Capital Corp. | Reduce -0.9% | 0.05% | −0.00 |
| VKI Invesco Adv Muni Inc. TR II | Sold out | 0.00% | −0.00 |
| CAT Caterpillar Inc. | Reduce -2.8% | 0.01% | −0.00 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -16.6% | 0.01% | −0.00 |
| TT Trane Technologies PLC | Reduce -3.2% | 0.01% | −0.00 |
| PG The Procter & Gamble Co. | Reduce -11.7% | 0.01% | −0.00 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -2.6% | 0.01% | −0.00 |
| LLY Eli Lilly & Co. | Reduce -12.9% | 0.02% | −0.00 |
| IAU iShares Gold Trust | Reduce -30.8% | 0.01% | −0.00 |
| QCOM Qualcomm Inc. | Reduce -19.6% | 0.00% | −0.00 |
| CMI Cummins Inc. | Reduce -1.2% | 0.01% | −0.00 |
| TMO Thermo Fisher Scientific Inc. | Reduce -2.0% | 0.01% | −0.00 |
| COO The Cooper Cos Inc. | Reduce -2.1% | 0.01% | −0.00 |
| MDY State Street SPDR S&P Midcap | Reduce -0.5% | 0.01% | −0.00 |
| ITW Illinois Tool Works | Reduce -1.1% | 0.01% | −0.00 |
Portfolio Buys Q4 2024 → Q1 2025
| BLK BlackRock Inc. | New | 1.42% | +1.42 |
| LHX L3HARRIS Technologies Inc. | Add +16324.2% | 0.73% | +0.73 |
| JNJ Johnson & Johnson | Add +4.3% | 2.41% | +0.39 |
| GOOGL Alphabet Inc. Class A | Add +46.8% | 2.00% | +0.33 |
| CVX Chevron Corp. | Add +0.9% | 2.26% | +0.31 |
| ORCL Oracle Corp. | Add +5401.7% | 0.31% | +0.30 |
| MSFT Microsoft Corp. | Add +19.7% | 5.08% | +0.30 |
| AEP American Electric Power | Add +1.1% | 1.46% | +0.24 |
| MDT Medtronic PLC | Add +3.6% | 1.29% | +0.18 |
| BND Vanguard Total Bond Market | Add +2.6% | 3.90% | +0.17 |
| VEA Vanguard Ftse Developed ETF | Add +1.1% | 2.37% | +0.16 |
| MCD McDonald's Corp. | Add +0.1% | 2.11% | +0.15 |
| AES AES Corp. | Add +301.4% | 0.17% | +0.12 |
| UBER Uber Technologies Inc. | New | 0.12% | +0.12 |
| BAC Bank of America Corp. | Add +14.7% | 1.50% | +0.12 |
| AMT American Tower Corp. | Add +3.7% | 0.62% | +0.11 |
| COP Conocophillips | Add +3.4% | 1.31% | +0.11 |
| JPM JPMorgan Chase & Co. | Add +0.3% | 4.16% | +0.10 |
| VGLT Vanguard Long-Term Treasury | Add +31.5% | 0.30% | +0.08 |
| SLB SLB Ltd. | Add +8.4% | 0.50% | +0.08 |
| NVS Novartis AG-Sponsored ADR | Add +1.3% | 0.52% | +0.07 |
| NI Nisource Inc. | Add +0.1% | 0.86% | +0.07 |
| NEE Nextera Energy Inc. | Add +7.3% | 1.20% | +0.07 |
| CSCO Cisco Systems Inc. | Add +1.1% | 1.33% | +0.06 |
| VCSH Vanguard S/T Corp. Bond ETF | Add +2.8% | 1.72% | +0.06 |
| ARE Alexandria Real Estate Equit | Add +15.9% | 0.67% | +0.06 |
| LRCX Lam Research Corp. | New | 0.06% | +0.06 |
| ABT Abbott Laboratories | Add +1.2% | 0.32% | +0.05 |
| CRM Salesforce Inc. | Add +39.6% | 0.45% | +0.05 |
| VMBS Vanguard Mortgage-Backed Sec | Add +3.5% | 0.89% | +0.05 |
| MA Mastercard Inc. Class A | Add +1.7% | 0.78% | +0.04 |
| PEP Pepsico Inc. | Add +4.6% | 1.49% | +0.04 |
| VGSH Vanguard Short-Term Treasury | Add +1.8% | 1.49% | +0.04 |
| VWO Vanguard Ftse Emerging Marke | Add +0.9% | 0.93% | +0.03 |
| AGG iShares Core U.S. Aggregate | New | 0.03% | +0.03 |
| UNP Union Pacific Corp. | Add +2.9% | 0.45% | +0.03 |
| UNH Unitedhealth Group Inc. | Add +2.4% | 0.44% | +0.02 |
| O Realty Income Corp. | Add +0.7% | 0.24% | +0.02 |
| INCY Incyte Corp. | Add +44.6% | 0.08% | +0.02 |
| SCHD Schwab US DVD Equity ETF | Add +199.7% | 0.02% | +0.02 |
| VCIT Vanguard Int-Term Corporate | Add +1.7% | 0.46% | +0.01 |
| JEPQ JPM Nasdaq Equity Premium | New | 0.01% | +0.01 |
| XLE SS Energy Select Sector | New | 0.01% | +0.01 |
| SPGI S&P Global Inc. | Add +1.9% | 0.33% | +0.01 |
| VONG Vanguard Russell 1000 Growth | New | 0.01% | +0.01 |
| CRWD CrowdStrike Holdings Inc. Class A | New | 0.01% | +0.01 |
| GE General Electric | New | 0.01% | +0.01 |
| RDNW Ridenow Group Inc. | New | 0.01% | +0.01 |
| IWF iShares Russell 1000 Growth | New | 0.01% | +0.01 |
| V Visa Inc. Class A | Add +17.3% | 0.02% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 210 | $5.3B | MSFT, AVGO, GOOGL, IJH, JPM |
| Q1 2026 | 201 | $5.0B | MSFT, AVGO, JPM, BND, IJH |
| Q4 2025 | 212 | $5.0B | MSFT, AVGO, JPM, GOOGL, AAPL |
| Q3 2025 | 234 | $4.9B | MSFT, AVGO, JPM, BND, AAPL |
| Q2 2025 | 205 | $4.5B | MSFT, JPM, AVGO, BND, IJH |
| Q1 2025 | 172 | $4.6B | FFIN, MSFT, JPM, BND, AAPL |
| Q4 2024 | 170 | $4.6B | FFIN, MSFT, JPM, AAPL, BND |
| Q3 2024 | 181 | $4.8B | FFIN, MSFT, BND, AAPL, JPM |
| Q2 2024 | 176 | $4.4B | FFIN, MSFT, AAPL, JPM, BND |
| Q1 2024 | 193 | $4.4B | FFIN, MSFT, JPM, BND, IJH |