NFC Investments, LLC

Registered adviser

CIK

1512858

Location

MEMPHIS, TN

Portfolio Value

Small $388,896,008

Diversification

Diversified

Filing Date

Global Rank

#4,352 / 8,811 ▼ 357

Top Industry

Insurance - Specialty 12.2%

Period ended 4 months ago

Filed Aug 13, 2026 · 2mo

25 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 132844

Roster of Oct 1, 2026

Regulatory AUM

$2,137,518,402

Main clients

Diversified

Private funds

6 funds · Mixed

Focus by fund count, roster of Oct 1, 2026

$364,901,655 gross assets

Private funds on Schedule D 7.B.(1)

As filed Aug 12, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$289,677,715 gross assets in 6 funds Hedge funds $211,195,488 (2) Private equity funds $78,482,227 (3) Other private funds $0 (1)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Mar 2026 to Oct 2026	$2,137,518,402	Diversified
Feb 2025 to Feb 2026	$2,035,919,876	Diversified
Feb 2024 to Jan 2025	$1,905,619,299	Insurance companies (50%)
May 2023 to Jan 2024	$1,767,240,783	Diversified
Feb 2023 to Apr 2023	$1,767,240,783	Diversified
Apr 2022 to Jan 2023	$1,814,187,673	Diversified

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Concentrated

The top 10 positions are 64.7% of the book (60%+)

Turnover

Low turnover

21.9% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 18.0 quarters (12+), a floor since 53.1% of the book was already held when coverage starts

Closest benchmark: the S&P 500 as of 2026-06-30, active share 92.1%; sector active share 59.9% against the combined 13F book's sector weights.

Over time 25 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

42 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

11.3%

−1.8 pts

Top 5

42.3%

−2.8 pts

Top 10

64.7%

−2.9 pts

HHI

558

Diversified−48

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Financial Services	52.0%	$202,047,466	19
Energy	13.2%	$51,207,706	6
Consumer Defensive	10.8%	$42,044,293	3
Communication Services	8.2%	$32,066,334	2
Consumer Cyclical	8.2%	$32,016,340	2
Real Estate	4.3%	$16,766,990	3
Industrials	2.8%	$10,728,886	2
Unclassified	0.3%	$1,125,715	3
Technology	0.2%	$892,278	2

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

16 positions

Ticker	Company	Δ Shares	Shares	Value
STWD	Starwood Property Trust, Inc.	+153,582	826,096	$13,531,452
ET	Energy Transfer LP	+137,001	614,758	$11,754,172
ARLP	Alliance Resource Partners LP	+10,000	75,700	$1,815,286
MGK	VANGUARD MEGA CAP GROWTH INDEX FUND	+5,596	6,300	$553,833
VNOM	Viper Energy, Inc.	+4,758	127,288	$5,397,011
MRP	Millrose Properties, Inc.	+4,485	35,477	$1,066,083
UHAL-B	U-Haul Holding Co /NV/	+1,714	180,087	$10,391,019
PLGO	Pelagos Insurance Capital Ltd	+1,700	918,112	$22,356,027
TOL	Toll Brothers, Inc.	+626	79,764	$13,141,119
COF	Capital One Financial Corp	+612	45,631	$9,154,491
AZO	Autozone Inc	+282	5,906	$18,875,221
KKR	KKR & Co. Inc.	+250	5,000	$458,900
APO	Apollo Global Management, Inc.	+207	303,258	$35,878,453
PGR	Progressive Corp/Oh/	+165	129,806	$28,356,120
MSFT	Microsoft Corp	+41	1,275	$475,600
FDX	Fedex Corp	+2	1,079	$337,867
No positions match the current search.

Trimmed

Positions the filer reduced

14 positions

Ticker	Company	Δ Shares	Shares	Value
WEST	Westrock Coffee Co	−1,463,037	2,066,711	$16,761,026
MTG	Mgic Investment Corp	−213,851	1,552,750	$43,787,550
RWT	Redwood Trust Inc	−16,803	457,691	$2,169,455
TRGP	Targa Resources Corp.	−7,354	59,147	$15,859,676
RRC	Range Resources Corp	−6,796	258,162	$9,601,044
DAR	Darling Ingredients Inc.	−5,395	444,295	$24,267,392
ESNT	Essent Group Ltd.	−3,518	45,615	$2,932,132
GOOG	Alphabet Inc.	−918	89,814	$31,733,980
KMI	Kinder Morgan, Inc.	−460	212,090	$6,780,517
ORI	Old Republic International Corp	−400	152,850	$6,254,622
TFIN	Triumph Financial, Inc.	−295	127,238	$9,709,531
AXP	American Express Co	−80	38,050	$12,870,412
EG	Everest Group, Ltd.	−57	29,066	$10,383,247
BRK-B	Berkshire Hathaway Inc	−31	1,145	$572,946
No positions match the current search.

New Positions

Positions the filer opened this quarter

2 positions

Ticker	Company	Shares	Value
RYAN	Ryan Specialty Holdings, Inc.	293,952	$11,099,627
ONEQ	Fidelity Nasdaq Composite Index ETF	2,330	$240,502
No positions match the current search.

Sold Out

Positions the filer fully exited

No qualifying positions this quarter.

Portfolio Positions

Compact Export CSV View 13F filing

42 tracked positions · $388,896,008 total · filing declares 43 positions · $393,189,000 · as of Jun 30, 2026

All sectors Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Industrials Real Estate Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
MTG	Mgic Investment Corp Financial Services	Reduced	1,552,750	-213,851	$43,787,550	−5.6%	26+	before history	11.26%
APO	Apollo Global Management, Inc. Financial Services	Added	303,258	+207	$35,878,453	+6.3%	18	before history	9.23%
GOOG	Alphabet Inc. Communication Services	Reduced	89,814	-918	$31,733,980	+21.9%	26+	before history	8.16%
PGR	Progressive Corp/Oh/ Financial Services	Added	129,806	+165	$28,356,120	+10.3%	26+	before history	7.29%
DAR	Darling Ingredients Inc. Consumer Defensive	Reduced	444,295	-5,395	$24,267,392	−12.7%	26+	before history	6.24%
PLGO	Pelagos Insurance Capital Ltd Financial Services	Added	918,112	+1,700	$22,356,027	+27.7%	7	$17.84	5.75%
AZO	Autozone Inc Consumer Cyclical	Added	5,906	+282	$18,875,221	−0.6%	26+	before history	4.85%
WEST	Westrock Coffee Co Consumer Defensive	Reduced	2,066,711	-1,463,037	$16,761,026	+11.7%	16	before history	4.31%
TRGP	Targa Resources Corp. Energy	Reduced	59,147	-7,354	$15,859,676	−4.9%	4	$167.04	4.08%
STWD	Starwood Property Trust, Inc. Real Estate	Added	826,096	+153,582	$13,531,452	+16.8%	26+	before history	3.48%
TOL	Toll Brothers, Inc. Consumer Cyclical	Added	79,764	+626	$13,141,119	+21.7%	2	$146.80	3.38%
AXP	American Express Co Financial Services	Reduced	38,050	-80	$12,870,412	+11.6%	26+	before history	3.31%
ET	Energy Transfer LP Energy	Added	614,758	+137,001	$11,754,172	+27.5%	9	unpriced	3.02%
RYAN	Ryan Specialty Holdings, Inc. Financial Services	NEW	293,952	NEW	$11,099,627	NEW	1	$33.94	2.85%
UHAL-B	U-Haul Holding Co /NV/ Industrials	Added	180,087	+1,714	$10,391,019	+30.4%	3	$48.44	2.67%
EG	Everest Group, Ltd. Financial Services	Reduced	29,066	-57	$10,383,247	+9.1%	26+	before history	2.67%
TFIN	Triumph Financial, Inc. Financial Services	Reduced	127,238	-295	$9,709,531	+27.6%	26+	before history	2.50%
RRC	Range Resources Corp Energy	Reduced	258,162	-6,796	$9,601,044	−19.8%	7	$35.54	2.47%
COF	Capital One Financial Corp Financial Services	Added	45,631	+612	$9,154,491	+11.5%	2	$208.94	2.35%
KMI	Kinder Morgan, Inc. Energy	Reduced	212,090	-460	$6,780,517	−4.9%	9	$20.84	1.74%
ORI	Old Republic International Corp Financial Services	Reduced	152,850	-400	$6,254,622	+2.3%	26+	before history	1.61%
VNOM	Viper Energy, Inc. Energy	Added	127,288	+4,758	$5,397,011	−6.3%	4	$38.40	1.39%
HIG	Hartford Insurance Group, Inc. Financial Services	Held	35,000	0	$4,638,200	−2.0%	20	before history	1.19%
ESNT	Essent Group Ltd. Financial Services	Reduced	45,615	-3,518	$2,932,132	+2.1%	26+	before history	0.75%
RWT	Redwood Trust Inc Real Estate	Reduced	457,691	-16,803	$2,169,455	−18.5%	9	$6.68	0.56%
ARLP	Alliance Resource Partners LP Energy	Added	75,700	+10,000	$1,815,286	−0.1%	11	before history	0.47%
FHN	First Horizon Corp Financial Services	Held	60,520	0	$1,551,732	+12.7%	3	$23.66	0.40%
MRP	Millrose Properties, Inc. Real Estate	Added	35,477	+4,485	$1,066,083	+22.9%	6	$24.70	0.27%
KO	Coca Cola Co Consumer Defensive	Held	12,500	0	$1,015,875	+6.9%	26+	before history	0.26%
NMIH	NMI Holdings, Inc. Financial Services	Held	16,620	0	$682,915	+9.5%	26+	before history	0.18%
RF	Regions Financial Corp Financial Services	Held	19,235	0	$580,897	+15.6%	26+	before history	0.15%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	1,145	-31	$572,946	+1.7%	26+	before history	0.15%
MGK	VANGUARD MEGA CAP GROWTH INDEX FUND	Added	6,300	+5,596	$553,833	+213735.1%	4	unpriced	0.14%
BAC	Bank Of America Corp /De/ Financial Services	Held	8,347	0	$475,612	+16.9%	2	$51.60	0.12%
MSFT	Microsoft Corp Technology	Added	1,275	+41	$475,600	+4.1%	26+	before history	0.12%
KKR	KKR & Co. Inc. Financial Services	Added	5,000	+250	$458,900	+4.4%	4	$139.63	0.12%
AAPL	Apple Inc. Technology	Held	1,440	0	$416,678	+14.0%	26+	before history	0.11%
FDX	Fedex Corp Industrials	Added	1,079	+2	$337,867	−11.9%	4	unpriced	0.09%
GOOGL	Alphabet Inc. Communication Services	Held	930	0	$332,354	+24.3%	4	$209.46	0.09%
QQQ	Invesco Qqq Trust, Series 1	Held	450	0	$331,380	+27.6%	4	$572.63	0.09%
PNFP	Pinnacle Financial Partners, Inc. Financial Services	Held	3,014	0	$304,052	+17.1%	2	$93.04	0.08%
ONEQ	Fidelity Nasdaq Composite Index ETF	NEW	2,330	NEW	$240,502	NEW	1	$99.57	0.06%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.