NFC Investments, LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), NFC Investments, LLC reported 43 stock positions worth $354.2 million. Its top holding was Mgic Investment (MTG) at 14.7% of the portfolio, followed by Apollo Global Management (APO, 12.0%) and Alphabet Class C (GOOG, 9.6%). Compared with Q3 2025, it opened 2 new positions, sold out of 2, added to 6 and reduced 19. The biggest buy was a new position in U-Haul Holding Co.-Non Voting (UHAL.B) and the biggest sale an exit from American International (AIG).
- Most Recent 13F
- Q2 2026
- Location
- MEMPHIS, TN
- CIK
- 0001512858
- Portfolio Value
- $354.2M (Q4 2025)
- SEC Filing
- 0001512858-26-000001 ↗ filed Feb 11, 2026
Holdings Value
Holdings 43 stocks · $354.2M
| MTG Mgic Investment Corp. | 14.73% | 1,785,378 | $52.2M | Reduce -1.3% |
| APO Apollo Global Management Inc. | 12.02% | 294,178 | $42.6M | Reduce -0.2% |
| GOOG Alphabet Inc. Class C | 9.59% | 108,223 | $34.0M | Reduce -2.0% |
| AZO AutoZone Inc. | 5.40% | 5,638 | $19.1M | Reduce -0.5% |
| PGR Progressive Corp. | 5.30% | 82,413 | $18.8M | Reduce -0.3% |
| DAR Darling Ingredients Inc. | 4.70% | 462,356 | $16.6M | Reduce -0.8% |
| PLGO Pelagos Insurance Capital LT filed as FIDELIS INSURANCE HOLDINGS L | 4.47% | 809,454 | $15.8M | Add +50.9% |
| WEST Westrock Coffee Co. | 4.30% | 3,745,959 | $15.2M | Reduce -8.4% |
| AXP American Express Co. | 4.05% | 38,783 | $14.3M | Reduce -2.1% |
| TRGP Targa Resources Corp. | 3.51% | 67,396 | $12.4M | Add +33.2% |
| STWD Starwood Property Trust Inc. | 3.48% | 683,889 | $12.3M | Add +3.1% |
| LEN.B Lennar Corp. Class B | 3.04% | 113,311 | $10.8M | Reduce -0.6% |
| EG Everest Group Ltd. | 2.80% | 29,202 | $9.9M | Reduce -0.4% |
| RRC Range Resources Corp. | 2.68% | 269,478 | $9.5M | Reduce -0.4% |
| TFIN Triumph Financial Inc. | 2.25% | 127,158 | $8.0M | Reduce -0.6% |
| ET Energy Transfer LP | 2.19% | 471,236 | $7.8M | Add +6.6% |
| ORI Old Republic Intl Corp. | 2.03% | 157,500 | $7.2M | No change |
| UHAL.B U-Haul Holding Co.-Non Voting | 1.90% | 144,212 | $6.7M | New |
| KMI Kinder Morgan Inc. | 1.75% | 225,600 | $6.2M | Reduce -0.9% |
| VNOM Viper Energy Inc. Class A | 1.39% | 127,652 | $4.9M | Reduce -0.9% |
| HIG Hartford Insurance Group Inc. | 1.36% | 35,000 | $4.8M | No change |
| TRAVELERS GROUP INC | 1.06% | 13,000 | $3.8M | No change |
| EQH Equitable Holdings Inc. | 1.01% | 75,300 | $3.6M | No change |
| ESNT Essent Group Ltd. | 0.95% | 51,958 | $3.4M | No change |
| RWT Redwood Trust Inc. | 0.78% | 499,457 | $2.8M | Add +0.0% |
| MRP Millrose Properties | 0.67% | 79,461 | $2.4M | Reduce -0.2% |
| ARLP Alliance Resource Partners | 0.46% | 69,700 | $1.6M | Reduce -1.0% |
| NMIH Nmi Holdings Inc. filed as NMI HLDGS INC | 0.28% | 24,110 | $983K | No change |
| KO The Coca-Cola Co. | 0.25% | 12,500 | $874K | Reduce -1.6% |
| MSFT Microsoft Corp. | 0.20% | 1,485 | $718K | No change |
| KKR KKR & Co. Inc. | 0.17% | 4,740 | $604K | Reduce -4.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.17% | 1,176 | $591K | No change |
| AAPL Apple Inc. | 0.16% | 2,080 | $566K | No change |
| RF Regions Financial Corp. | 0.15% | 19,235 | $521K | No change |
| TIPT Tiptree Inc. | 0.11% | 22,246 | $406K | No change |
| FDX FedEx Corp. | 0.09% | 1,075 | $311K | Add +0.2% |
| GOOGL Alphabet Inc. Class A | 0.08% | 930 | $291K | No change |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 0.08% | 704 | $290K | No change |
| NVDA Nvidia Corp. | 0.08% | 1,514 | $282K | Reduce -24.8% |
| HOMB Home Bancshares Inc. | 0.08% | 10,000 | $278K | No change |
| QQQ Invesco QQQ Trust Series 1 | 0.08% | 450 | $276K | No change |
| FHN First Horizon Corp. | 0.06% | 9,498 | $227K | New |
| ONEQ Fidelity Nasdaq Comp Indx | 0.06% | 2,330 | $213K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| AIG American International Group | Sold out | 0.00% | −2.34 |
| AZO AutoZone Inc. | Reduce -0.5% | 5.40% | −1.63 |
| WEST Westrock Coffee Co. | Reduce -8.4% | 4.30% | −1.45 |
| LEN.B Lennar Corp. Class B | Reduce -0.6% | 3.04% | −0.91 |
| PGR Progressive Corp. | Reduce -0.3% | 5.30% | −0.61 |
| EG Everest Group Ltd. | Reduce -0.4% | 2.80% | −0.31 |
| RRC Range Resources Corp. | Reduce -0.4% | 2.68% | −0.26 |
| MTG Mgic Investment Corp. | Reduce -1.3% | 14.73% | −0.12 |
| KMI Kinder Morgan Inc. | Reduce -0.9% | 1.75% | −0.12 |
| MRP Millrose Properties | Reduce -0.2% | 0.67% | −0.10 |
| PG The Procter & Gamble Co. | Sold out | 0.00% | −0.06 |
| ARLP Alliance Resource Partners | Reduce -1.0% | 0.46% | −0.06 |
| VNOM Viper Energy Inc. Class A | Reduce -0.9% | 1.39% | −0.03 |
| NVDA Nvidia Corp. | Reduce -24.8% | 0.08% | −0.03 |
| KKR KKR & Co. Inc. | Reduce -4.0% | 0.17% | −0.02 |
| KO The Coca-Cola Co. | Reduce -1.6% | 0.25% | +0.00 |
| AXP American Express Co. | Reduce -2.1% | 4.05% | +0.24 |
| TFIN Triumph Financial Inc. | Reduce -0.6% | 2.25% | +0.40 |
| DAR Darling Ingredients Inc. | Reduce -0.8% | 4.70% | +0.54 |
| APO Apollo Global Management Inc. | Reduce -0.2% | 12.02% | +0.65 |
| GOOG Alphabet Inc. Class C | Reduce -2.0% | 9.59% | +1.80 |
Portfolio Buys Q3 2025 → Q4 2025
| UHAL.B U-Haul Holding Co.-Non Voting | New | 1.90% | +1.90 |
| PLGO Pelagos Insurance Capital LT | Add +50.9% | 4.47% | +1.66 |
| TRGP Targa Resources Corp. | Add +33.2% | 3.51% | +1.06 |
| FHN First Horizon Corp. | New | 0.06% | +0.06 |
| FDX FedEx Corp. | Add +0.2% | 0.09% | +0.01 |
| ET Energy Transfer LP | Add +6.6% | 2.19% | −0.00 |
| RWT Redwood Trust Inc. | Add +0.0% | 0.78% | −0.06 |
| STWD Starwood Property Trust Inc. | Add +3.1% | 3.48% | −0.24 |
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 |