First Financial Bankshares Inc
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 10, 2025), First Financial Bankshares Inc reported 234 stock positions worth $4.9 billion. Its top holding was Microsoft (MSFT) at 6.7% of the portfolio, followed by Broadcom (AVGO, 5.3%) and JPMorgan Chase (JPM, 4.7%). Compared with Q2 2025, it opened 48 new positions, sold out of 19, added to 120 and reduced 42. The biggest buy was Alphabet Class A (GOOGL, shares +1%) and the biggest sale SLB (SLB, shares −98%).
- Most Recent 13F
- Q2 2026
- Location
- Abilene, TX
- CIK
- 0000036029
- Portfolio Value
- $4.9B (Q3 2025)
- SEC Filing
- 0001193125-25-274203 ↗ filed Nov 10, 2025
Holdings Value
Holdings 234 stocks · $4.9B
| MSFT Microsoft Corp. | 6.70% | 629,376 | $326.0M | Reduce -0.1% |
| AVGO Broadcom Inc. | 5.27% | 777,047 | $256.4M | Reduce -2.3% |
| JPM JPMorgan Chase & Co. | 4.71% | 726,196 | $229.1M | Reduce -8.3% |
| BND Vanguard Total Bond Market | 3.98% | 2,603,192 | $193.6M | Add +2.8% |
| AAPL Apple Inc. | 3.84% | 734,425 | $187.0M | Add +1.5% |
| IJH iShares Core S&P Midcap ETF | 3.74% | 2,786,153 | $181.8M | Add +1.6% |
| GOOGL Alphabet Inc. Class A | 3.62% | 725,519 | $176.4M | Add +1.2% |
| VEA Vanguard Ftse Developed ETF | 2.66% | 2,158,291 | $129.3M | Reduce -0.2% |
| JNJ Johnson & Johnson | 2.64% | 693,866 | $128.7M | Add +1.5% |
| BX Blackstone Inc. | 2.53% | 719,814 | $123.0M | Reduce -1.3% |
| CVX Chevron Corp. | 2.02% | 632,599 | $98.2M | Add +0.3% |
| MCD McDonald's Corp. | 1.96% | 314,629 | $95.6M | Add +0.6% |
| NVDA Nvidia Corp. | 1.95% | 509,836 | $95.1M | Reduce -3.2% |
| WMB Williams Cos Inc. | 1.90% | 1,460,750 | $92.5M | Reduce -0.5% |
| ETN Eaton Corp. PLC | 1.90% | 246,799 | $92.4M | Add +0.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 1.78% | 1,679,546 | $86.6M | Add +0.5% |
| BLK BlackRock Inc. | 1.63% | 68,139 | $79.4M | Reduce -1.1% |
| VCSH Vanguard S/T Corp. Bond ETF | 1.62% | 988,969 | $79.0M | Reduce -1.0% |
| AMZN Amazon.com Inc. | 1.56% | 346,128 | $76.0M | Add +2.7% |
| PEP Pepsico Inc. | 1.56% | 539,718 | $75.8M | Add +2.1% |
| HON Honeywell International Inc. | 1.54% | 356,894 | $75.1M | Add +0.7% |
| VGSH Vanguard Short-Term Treasury | 1.54% | 1,270,773 | $74.8M | Add +4.4% |
| NEE Nextera Energy Inc. | 1.47% | 950,633 | $71.8M | Add +1.8% |
| AEP American Electric Power | 1.46% | 633,084 | $71.2M | Add +0.7% |
| CSCO Cisco Systems Inc. | 1.45% | 1,033,389 | $70.7M | Reduce -2.0% |
| C Citigroup Inc. | 1.38% | 660,025 | $67.0M | Reduce -1.5% |
| MDT Medtronic PLC | 1.35% | 689,391 | $65.7M | Add +2.0% |
| KO The Coca-Cola Co. | 1.29% | 949,898 | $63.0M | Add +3.0% |
| META Meta Platforms Inc. Class A | 1.29% | 85,231 | $62.6M | Add +8.6% |
| AMGN Amgen Inc. | 1.28% | 220,422 | $62.2M | Add +0.7% |
| MRK Merck & Co. Inc. | 1.24% | 721,010 | $60.5M | Add +1.9% |
| ARE Alexandria Real Estate Equit | 1.19% | 693,603 | $57.8M | Add +5.1% |
| COP Conocophillips | 1.15% | 589,727 | $55.8M | Add +1.1% |
| LMT Lockheed Martin Corp. | 1.13% | 110,368 | $55.1M | Reduce -0.7% |
| AMT American Tower Corp. | 1.09% | 276,514 | $53.2M | Add +104.8% |
| HD Home Depot Inc. | 1.07% | 128,479 | $52.1M | Add +1.2% |
| VWO Vanguard Ftse Emerging Marke | 1.07% | 957,779 | $51.9M | Reduce -0.1% |
| MDLZ Mondelez International Inc. Class A | 1.05% | 819,189 | $51.2M | Add +2.8% |
| LHX L3HARRIS Technologies Inc. | 1.05% | 166,688 | $50.9M | Reduce -2.0% |
| WMT Walmart Inc. | 1.04% | 489,662 | $50.5M | Reduce -1.3% |
| MU Micron Technology Inc. | 1.00% | 291,334 | $48.7M | Add +151.2% |
| NOW ServiceNow Inc. | 0.91% | 48,326 | $44.5M | Add +85.8% |
| VMBS Vanguard Mortgage-Backed Sec | 0.90% | 935,087 | $43.9M | Add +1.4% |
| NI Nisource Inc. | 0.88% | 991,965 | $43.0M | Reduce -0.9% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.82% | 459,664 | $40.1M | Add +2.3% |
| MA Mastercard Inc. Class A | 0.79% | 67,296 | $38.3M | Add +1.7% |
| UNP Union Pacific Corp. | 0.67% | 137,209 | $32.4M | Add +52.4% |
| ORCL Oracle Corp. | 0.63% | 109,593 | $30.8M | Add +6.5% |
| NVS Novartis AG-Sponsored ADR | 0.59% | 222,237 | $28.5M | Add +0.1% |
| IJR iShares Core S&P Small-Cap E | 0.56% | 228,473 | $27.1M | Reduce -18.4% |
| KRE SS SPDR S&P Regional Bank | 0.51% | 393,276 | $24.9M | Add +0.6% |
| VGLT Vanguard Long-Term Treasury | 0.48% | 410,388 | $23.3M | Add +24.1% |
| VCIT Vanguard Int-Term Corporate | 0.47% | 273,000 | $23.0M | Add +2.1% |
| IYT iShares US Transportation Et | 0.41% | 281,023 | $20.2M | Add +1.9% |
| SBUX Starbucks Corp. | 0.41% | 236,107 | $20.0M | Reduce -0.6% |
| VNQ Vanguard Real Estate ETF | 0.41% | 216,099 | $19.8M | Add +3.2% |
| UNH Unitedhealth Group Inc. | 0.33% | 46,142 | $15.9M | Add +13.0% |
| ACDC Profrac Holding Corp. Class A | 0.32% | 4,204,795 | $15.6M | Add +30.1% |
| ABT Abbott Laboratories | 0.31% | 113,137 | $15.2M | Add +2.1% |
| SPGI S&P Global Inc. | 0.30% | 30,272 | $14.7M | Add +1.4% |
| CMCSA Comcast Corp. Class A | 0.30% | 467,776 | $14.7M | Add +1.3% |
| O Realty Income Corp. | 0.24% | 194,014 | $11.8M | Add +1.6% |
| PFE Pfizer Inc. | 0.22% | 426,597 | $10.9M | Add +2.2% |
| PANW Palo Alto Networks Inc. | 0.19% | 45,946 | $9.4M | Add +28.7% |
| AVB Avalonbay Communities Inc. | 0.18% | 45,825 | $8.9M | New |
| UTHR United Therapeutics Corp. | 0.18% | 20,979 | $8.8M | Add +48.5% |
| IVV iShares Core S&P 500 ETF | 0.17% | 12,089 | $8.1M | Add +204.6% |
| VOO Vanguard S&P 500 ETF | 0.16% | 12,855 | $7.9M | Add +3.5% |
| UBER Uber Technologies Inc. | 0.15% | 73,522 | $7.2M | Reduce -4.9% |
| EFA iShares MSCI Eafe ETF | 0.15% | 75,772 | $7.1M | Add +1.1% |
| XOM Exxon Mobil Corp. | 0.14% | 62,489 | $7.0M | Add +9.0% |
| GOOG Alphabet Inc. Class C | 0.12% | 24,564 | $6.0M | Add +2.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.12% | 8,884 | $5.9M | Reduce -0.2% |
| IWB iShares Russell 1000 ETF | 0.12% | 15,483 | $5.7M | No change |
| PSX Phillips 66 | 0.10% | 37,021 | $5.0M | Add +1723.7% |
| AES AES Corp. | 0.10% | 379,474 | $5.0M | Reduce -49.9% |
| VT Vanguard Tot World STK ETF | 0.10% | 35,519 | $4.9M | New |
| BKNG Booking Holdings Inc. | 0.10% | 891 | $4.8M | Add +2.4% |
| LRCX Lam Research Corp. | 0.10% | 35,853 | $4.8M | Add +0.4% |
| TSLA Tesla Inc. | 0.10% | 10,414 | $4.6M | Add +2.6% |
| FTK Flotek Industries Inc. | 0.09% | 290,000 | $4.2M | No change |
| IEFA iShares Core MSCI Eafe ETF | 0.08% | 45,870 | $4.0M | Reduce -5.9% |
| NBIX Neurocrine Biosciences Inc. | 0.08% | 28,426 | $4.0M | Reduce -0.5% |
| KRP Kimbell Royalty Partners LP | 0.06% | 227,922 | $3.1M | Add +1171.0% |
| TLN Talen Energy Corp. | 0.06% | 6,879 | $2.9M | New |
| ISRG Intuitive Surgical Inc. | 0.06% | 6,487 | $2.9M | Add +1.0% |
| DHR Danaher Corp. | 0.05% | 13,299 | $2.6M | Add +152.2% |
| TSM Taiwan Semiconductor-SP ADR | 0.05% | 9,121 | $2.5M | Add +234.3% |
| MAIN Main Street Capital Corp. | 0.05% | 39,851 | $2.5M | No change |
| VEEV Veeva Systems Inc. Class A | 0.05% | 8,095 | $2.4M | Add +336.1% |
| EEM iShares MSCI Emerging Market | 0.05% | 43,894 | $2.3M | No change |
| FERG Ferguson Enterprises Inc. | 0.05% | 10,340 | $2.3M | Add +403.4% |
| AGG iShares Core U.S. Aggregate | 0.05% | 22,065 | $2.2M | New |
| CRM Salesforce Inc. | 0.05% | 9,301 | $2.2M | Reduce -88.4% |
| MLM Martin Marietta Materials | 0.04% | 3,414 | $2.2M | New |
| KLAC KLA Corp. | 0.04% | 1,941 | $2.1M | Reduce -4.6% |
| SF Stifel Financial Corp. | 0.04% | 18,355 | $2.1M | Add +1.8% |
| GEV GE Vernova Inc. | 0.04% | 3,381 | $2.1M | Reduce -19.6% |
| CSGP Costar Group Inc. | 0.04% | 23,511 | $2.0M | New |
| FICO Fair Isaac Corp. | 0.04% | 1,250 | $1.9M | New |
Portfolio Sells Q2 2025 → Q3 2025
| SLB SLB Ltd. | Reduce -98.0% | 0.01% | −0.46 |
| CRM Salesforce Inc. | Reduce -88.4% | 0.05% | −0.44 |
| JPM JPMorgan Chase & Co. | Reduce -8.3% | 4.71% | −0.44 |
| ADBE Adobe Inc. | Reduce -98.7% | 0.00% | −0.40 |
| MSFT Microsoft Corp. | Reduce -0.1% | 6.70% | −0.32 |
| CPT Camden Property Trust | Reduce -97.0% | 0.01% | −0.21 |
| CSCO Cisco Systems Inc. | Reduce -2.0% | 1.45% | −0.19 |
| WMB Williams Cos Inc. | Reduce -0.5% | 1.90% | −0.16 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -1.0% | 1.62% | −0.15 |
| IJR iShares Core S&P Small-Cap E | Reduce -18.4% | 0.56% | −0.13 |
| VEA Vanguard Ftse Developed ETF | Reduce -0.2% | 2.66% | −0.11 |
| INCY Incyte Corp. | Sold out | 0.00% | −0.09 |
| SBUX Starbucks Corp. | Reduce -0.6% | 0.41% | −0.08 |
| AES AES Corp. | Reduce -49.9% | 0.10% | −0.08 |
| FANG Diamondback Energy Inc. | Reduce -89.6% | 0.01% | −0.06 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -71.0% | 0.02% | −0.06 |
| EQT Eqt Corp. | Sold out | 0.00% | −0.06 |
| CNR Core Natural Resources Inc. | Sold out | 0.00% | −0.05 |
| WMT Walmart Inc. | Reduce -1.3% | 1.04% | −0.05 |
| HCA HCA Healthcare Inc. | Sold out | 0.00% | −0.05 |
| T AT&T Inc. | Reduce -63.1% | 0.02% | −0.04 |
| ODFL Old Dominion Freight Line | Sold out | 0.00% | −0.04 |
| PINS Pinterest Inc. Class A | Sold out | 0.00% | −0.04 |
| EMXC iShares MSCI Emr MRK Ex Chna | Reduce -73.7% | 0.01% | −0.04 |
| NI Nisource Inc. | Reduce -0.9% | 0.88% | −0.02 |
| REX Rex American Resources Corp. | Sold out | 0.00% | −0.02 |
| LMT Lockheed Martin Corp. | Reduce -0.7% | 1.13% | −0.02 |
| GS Goldman Sachs Group Inc. | Reduce -76.3% | 0.01% | −0.02 |
| FCX Freeport-McMoran Inc. | Reduce -60.5% | 0.01% | −0.02 |
| OMC Omnicom Group | Sold out | 0.00% | −0.02 |
| CEG Constellation Energy | Reduce -59.2% | 0.01% | −0.02 |
| RGEN Repligen Corp. | Sold out | 0.00% | −0.02 |
| CRH CRH PLC | Reduce -70.2% | 0.01% | −0.01 |
| UBER Uber Technologies Inc. | Reduce -4.9% | 0.15% | −0.01 |
| ASO Academy Sports & Outdoors Inc. | Sold out | 0.00% | −0.01 |
| PPIH Perma-Pipe International Hol | Sold out | 0.00% | −0.01 |
| DAR Darling Ingredients Inc. | Sold out | 0.00% | −0.01 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -5.9% | 0.08% | −0.01 |
| VITL Vital Farms Inc. | Sold out | 0.00% | −0.01 |
| DXCM Dexcom Inc. | Sold out | 0.00% | −0.01 |
| GEV GE Vernova Inc. | Reduce -19.6% | 0.04% | −0.01 |
| CARR Carrier Global Corp. | Sold out | 0.00% | −0.01 |
| LUMN Lumen Technologies Inc. | Sold out | 0.00% | −0.01 |
| CBZ Cbiz Inc. | Sold out | 0.00% | −0.00 |
| ESP Espey MFG & Electronics Corp. | Sold out | 0.00% | −0.00 |
| CHE Chemed Corp. | Reduce -2.5% | 0.02% | −0.00 |
| INVH Invitation Homes Inc. | Reduce -14.9% | 0.01% | −0.00 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -0.2% | 0.12% | −0.00 |
| MFM Aberdeen Municipal Income | Sold out | 0.00% | −0.00 |
| MMM 3M Co. | Reduce -0.1% | 0.01% | −0.00 |
Portfolio Buys Q2 2025 → Q3 2025
| GOOGL Alphabet Inc. Class A | Add +1.2% | 3.62% | +0.79 |
| MU Micron Technology Inc. | Add +151.2% | 1.00% | +0.68 |
| AAPL Apple Inc. | Add +1.5% | 3.84% | +0.52 |
| AMT American Tower Corp. | Add +104.8% | 1.09% | +0.42 |
| NOW ServiceNow Inc. | Add +85.8% | 0.91% | +0.31 |
| JNJ Johnson & Johnson | Add +1.5% | 2.64% | +0.30 |
| UNP Union Pacific Corp. | Add +52.4% | 0.67% | +0.20 |
| AVB Avalonbay Communities Inc. | New | 0.18% | +0.18 |
| ORCL Oracle Corp. | Add +6.5% | 0.63% | +0.13 |
| ARE Alexandria Real Estate Equit | Add +5.1% | 1.19% | +0.11 |
| IVV iShares Core S&P 500 ETF | Add +204.6% | 0.17% | +0.11 |
| VT Vanguard Tot World STK ETF | New | 0.10% | +0.10 |
| PSX Phillips 66 | Add +1723.7% | 0.10% | +0.10 |
| UTHR United Therapeutics Corp. | Add +48.5% | 0.18% | +0.09 |
| VGLT Vanguard Long-Term Treasury | Add +24.1% | 0.48% | +0.06 |
| TLN Talen Energy Corp. | New | 0.06% | +0.06 |
| KRP Kimbell Royalty Partners LP | Add +1171.0% | 0.06% | +0.06 |
| AGG iShares Core U.S. Aggregate | New | 0.05% | +0.05 |
| MLM Martin Marietta Materials | New | 0.04% | +0.04 |
| UNH Unitedhealth Group Inc. | Add +13.0% | 0.33% | +0.04 |
| CSGP Costar Group Inc. | New | 0.04% | +0.04 |
| TSM Taiwan Semiconductor-SP ADR | Add +234.3% | 0.05% | +0.04 |
| FICO Fair Isaac Corp. | New | 0.04% | +0.04 |
| FERG Ferguson Enterprises Inc. | Add +403.4% | 0.05% | +0.04 |
| VEEV Veeva Systems Inc. Class A | Add +336.1% | 0.05% | +0.04 |
| CAVA Cava Group Inc. | New | 0.03% | +0.03 |
| ATI Ati Inc. | New | 0.03% | +0.03 |
| DHR Danaher Corp. | Add +152.2% | 0.05% | +0.03 |
| MDT Medtronic PLC | Add +2.0% | 1.35% | +0.03 |
| PANW Palo Alto Networks Inc. | Add +28.7% | 0.19% | +0.03 |
| COF Capital One Financial Corp. | Add +544.3% | 0.03% | +0.03 |
| GOOG Alphabet Inc. Class C | Add +2.9% | 0.12% | +0.03 |
| INTU Intuit Inc. | New | 0.03% | +0.03 |
| HD Home Depot Inc. | Add +1.2% | 1.07% | +0.03 |
| MKL Markel Group Inc. | New | 0.02% | +0.02 |
| SPSC SPS Commerce Inc. | New | 0.02% | +0.02 |
| TSLA Tesla Inc. | Add +2.6% | 0.10% | +0.02 |
| NEE Nextera Energy Inc. | Add +1.8% | 1.47% | +0.02 |
| LRCX Lam Research Corp. | Add +0.4% | 0.10% | +0.02 |
| BLDR Builders Firstsource Inc. | New | 0.01% | +0.01 |
| LVS Las Vegas Sands Corp. | New | 0.01% | +0.01 |
| IP International Paper Co. | New | 0.01% | +0.01 |
| AIZ Assurant Inc. | New | 0.01% | +0.01 |
| BAC Bank of America Corp. | Add +0.5% | 1.78% | +0.01 |
| AME Ametek Inc. | New | 0.01% | +0.01 |
| BMY Bristol-Myers Squibb Co. | New | 0.01% | +0.01 |
| GTLS Chart Industries Inc. | New | 0.01% | +0.01 |
| PM Philip Morris International | New | 0.01% | +0.01 |
| CME Cme Group Inc. | New | 0.01% | +0.01 |
| FTNT Fortinet Inc. | New | 0.01% | +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 |