NFC Investments, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 12, 2025), NFC Investments, LLC reported 43 stock positions worth $345.5 million. Its top holding was Mgic Investment (MTG) at 14.8% of the portfolio, followed by Apollo Global Management (APO, 11.4%) and Alphabet Class C (GOOG, 7.8%). Compared with Q2 2025, it opened 9 new positions, sold out of 2, added to 7 and reduced 17. The biggest buy was a new position in Targa Resources (TRGP) and the biggest sale an exit from First Horizon (FHN).
- Most Recent 13F
- Q2 2026
- Location
- MEMPHIS, TN
- CIK
- 0001512858
- Portfolio Value
- $345.5M (Q3 2025)
- SEC Filing
- 0001512858-25-000006 ↗ filed Nov 12, 2025
Holdings Value
Holdings 43 stocks · $345.5M
| MTG Mgic Investment Corp. | 14.85% | 1,808,379 | $51.3M | Reduce -3.6% |
| APO Apollo Global Management Inc. | 11.37% | 294,762 | $39.3M | Reduce -4.3% |
| GOOG Alphabet Inc. Class C | 7.78% | 110,426 | $26.9M | Reduce -7.0% |
| AZO AutoZone Inc. | 7.03% | 5,664 | $24.3M | Reduce -7.0% |
| PGR Progressive Corp. | 5.91% | 82,648 | $20.4M | Reduce -4.5% |
| WEST Westrock Coffee Co. | 5.75% | 4,089,711 | $19.9M | Add +2.0% |
| DAR Darling Ingredients Inc. | 4.16% | 465,838 | $14.4M | Reduce -2.5% |
| LEN.B Lennar Corp. Class B | 3.96% | 113,950 | $13.7M | Reduce -5.2% |
| AXP American Express Co. | 3.81% | 39,605 | $13.2M | Reduce -7.2% |
| STWD Starwood Property Trust Inc. | 3.72% | 663,612 | $12.9M | Add +1.4% |
| EG Everest Group Ltd. | 3.10% | 29,330 | $10.7M | Add +0.5% |
| RRC Range Resources Corp. | 2.95% | 270,542 | $10.2M | Reduce -3.4% |
| PLGO Pelagos Insurance Capital LT filed as FIDELIS INSURANCE HOLDINGS L | 2.82% | 536,379 | $9.7M | Add +74.6% |
| TRGP Targa Resources Corp. | 2.45% | 50,603 | $8.5M | New |
| AIG American International Group | 2.34% | 102,938 | $8.1M | No change |
| ET Energy Transfer LP | 2.20% | 441,939 | $7.6M | Reduce 0.0% |
| ORI Old Republic Intl Corp. | 1.94% | 157,500 | $6.7M | Reduce -16.0% |
| KMI Kinder Morgan Inc. | 1.87% | 227,744 | $6.4M | Add +0.5% |
| TFIN Triumph Financial Inc. | 1.85% | 127,875 | $6.4M | Reduce -6.2% |
| VNOM Viper Energy Inc. Class A | 1.42% | 128,808 | $4.9M | New |
| HIG Hartford Insurance Group Inc. | 1.35% | 35,000 | $4.7M | No change |
| EQH Equitable Holdings Inc. | 1.11% | 75,300 | $3.8M | No change |
| TRAVELERS GROUP INC | 1.05% | 13,000 | $3.6M | No change |
| ESNT Essent Group Ltd. | 0.96% | 51,958 | $3.3M | Reduce -9.5% |
| RWT Redwood Trust Inc. | 0.84% | 499,315 | $2.9M | Add +2.7% |
| MRP Millrose Properties | 0.77% | 79,634 | $2.7M | Reduce -0.2% |
| ARLP Alliance Resource Partners | 0.52% | 70,400 | $1.8M | No change |
| NMIH Nmi Holdings Inc. filed as NMI HLDGS INC | 0.27% | 24,110 | $924K | No change |
| KO The Coca-Cola Co. | 0.24% | 12,700 | $842K | Reduce -2.8% |
| MSFT Microsoft Corp. | 0.22% | 1,485 | $769K | Reduce -1.0% |
| KKR KKR & Co. Inc. | 0.19% | 4,940 | $642K | New |
| BRK.B Berkshire Hathaway Inc. Class B | 0.17% | 1,176 | $591K | Add +41.0% |
| AAPL Apple Inc. | 0.15% | 2,080 | $530K | Reduce -1.0% |
| RF Regions Financial Corp. | 0.15% | 19,235 | $507K | No change |
| TIPT Tiptree Inc. | 0.12% | 22,246 | $426K | No change |
| NVDA Nvidia Corp. | 0.11% | 2,014 | $376K | No change |
| HOMB Home Bancshares Inc. | 0.08% | 10,000 | $283K | No change |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 0.08% | 704 | $283K | New |
| QQQ Invesco QQQ Trust Series 1 | 0.08% | 450 | $270K | New |
| FDX FedEx Corp. | 0.07% | 1,073 | $253K | New |
| GOOGL Alphabet Inc. Class A | 0.07% | 930 | $226K | New |
| ONEQ Fidelity Nasdaq Comp Indx | 0.06% | 2,330 | $208K | New |
| PG The Procter & Gamble Co. | 0.06% | 1,341 | $206K | New |
Portfolio Sells Q2 2025 → Q3 2025
| FHN First Horizon Corp. | Sold out | 0.00% | −2.91 |
| STR Sitio Royalties Corp. Class A | Sold out | 0.00% | −1.39 |
| APO Apollo Global Management Inc. | Reduce -4.3% | 11.37% | −1.13 |
| DAR Darling Ingredients Inc. | Reduce -2.5% | 4.16% | −1.02 |
| PGR Progressive Corp. | Reduce -4.5% | 5.91% | −0.69 |
| RRC Range Resources Corp. | Reduce -3.4% | 2.95% | −0.31 |
| TFIN Triumph Financial Inc. | Reduce -6.2% | 1.85% | −0.30 |
| ORI Old Republic Intl Corp. | Reduce -16.0% | 1.94% | −0.12 |
| ET Energy Transfer LP | Reduce 0.0% | 2.20% | −0.10 |
| AXP American Express Co. | Reduce -7.2% | 3.81% | −0.09 |
| MTG Mgic Investment Corp. | Reduce -3.6% | 14.85% | −0.08 |
| ESNT Essent Group Ltd. | Reduce -9.5% | 0.96% | −0.04 |
| KO The Coca-Cola Co. | Reduce -2.8% | 0.24% | −0.02 |
| MSFT Microsoft Corp. | Reduce -1.0% | 0.22% | +0.01 |
| AAPL Apple Inc. | Reduce -1.0% | 0.15% | +0.03 |
| MRP Millrose Properties | Reduce -0.2% | 0.77% | +0.12 |
| LEN.B Lennar Corp. Class B | Reduce -5.2% | 3.96% | +0.34 |
| AZO AutoZone Inc. | Reduce -7.0% | 7.03% | +0.57 |
| GOOG Alphabet Inc. Class C | Reduce -7.0% | 7.78% | +1.76 |
Portfolio Buys Q2 2025 → Q3 2025
| TRGP Targa Resources Corp. | New | 2.45% | +2.45 |
| VNOM Viper Energy Inc. Class A | New | 1.42% | +1.42 |
| PLGO Pelagos Insurance Capital LT | Add +74.6% | 2.82% | +1.36 |
| EG Everest Group Ltd. | Add +0.5% | 3.10% | +0.27 |
| KKR KKR & Co. Inc. | New | 0.19% | +0.19 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | New | 0.08% | +0.08 |
| QQQ Invesco QQQ Trust Series 1 | New | 0.08% | +0.08 |
| FDX FedEx Corp. | New | 0.07% | +0.07 |
| GOOGL Alphabet Inc. Class A | New | 0.07% | +0.07 |
| ONEQ Fidelity Nasdaq Comp Indx | New | 0.06% | +0.06 |
| PG The Procter & Gamble Co. | New | 0.06% | +0.06 |
| RWT Redwood Trust Inc. | Add +2.7% | 0.84% | +0.02 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +41.0% | 0.17% | +0.01 |
| STWD Starwood Property Trust Inc. | Add +1.4% | 3.72% | −0.03 |
| KMI Kinder Morgan Inc. | Add +0.5% | 1.87% | −0.04 |
| WEST Westrock Coffee Co. | Add +2.0% | 5.75% | −0.81 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 43 | $393.2M | MTG, APO, GOOG, PGR, DAR |
| Q1 2026 | 41 | $359.2M | MTG, APO, DAR, GOOG, PGR |
| Q4 2025 | 43 | $354.2M | MTG, APO, GOOG, AZO, PGR |
| Q3 2025 | 43 | $345.5M | MTG, APO, GOOG, AZO, PGR |
| Q2 2025 | 36 | $349.7M | MTG, APO, PGR, WEST, AZO |
| Q1 2025 | 36 | $336.4M | MTG, APO, WEST, PGR, AZO |
| Q4 2024 | 37 | $362.4M | APO, MTG, WEST, GOOG, ESGR |
| Q3 2024 | 35 | $348.1M | APO, MTG, WEST, PGR, ESGR |
| Q2 2024 | 36 | $348.6M | APO, MTG, WEST, ESGR, GOOG |
| Q1 2024 | 32 | $347.7M | APO, MTG, WEST, ESGR, DAR |