NFC Investments, LLC Long-Term Concentrated

Location: Memphis, TN

CIK: 0001512858 · Show all filings

Period: Q3 2025 (← Previous) (Next →)

Filing Date: Nov 12, 2025

Total Value: $345M

Holdings (43)

MTG MGIC INVESTMENT CORP 14.8%

Value $51.3M Shares 1,808,379 Est. Cost $8.98 Unrealized +203.6%

APO APOLLO GLOBAL MGMT INC 11.4%

Value $39.28M Shares 294,762 Est. Cost $63.46 Unrealized +121.8%

— ALPHABET INC CAP STK 7.8%

Value $26.89M Shares 110,426 Est. Cost $142.88 Unrealized —

AZO AUTOZONE INC 7.0%

Value $24.3M Shares 5,664 Est. Cost $701.66 Unrealized +471.7%

PGR PROGRESSIVE CORP OHIO 5.9%

Value $20.41M Shares 82,648 Est. Cost $70.33 Unrealized +229.4%

WEST WESTROCK COFFEE CO 5.8%

Value $19.88M Shares 4,089,711 Est. Cost $10.37 Unrealized -42.0%

DAR DARLING INGREDIENTS INC 4.2%

Value $14.38M Shares 465,838 Est. Cost $28.45 Unrealized +17.4%

LEN/B LENNAR CORP 4.0%

Value $13.67M Shares 113,950 Est. Cost $87.20 Unrealized +34.6%

AXP AMERICAN EXPRESS CO 3.8%

Value $13.15M Shares 39,605 Est. Cost $114.87 Unrealized +175.6%

STWD STARWOOD PPTY TR INC 3.7%

Value $12.85M Shares 663,612 Est. Cost $21.81 Unrealized —

EG EVEREST RE GROUP LTD 3.1%

Value $10.73M Shares 29,330 Est. Cost $263.59 Unrealized +28.1%

RRC RANGE RES CORP 2.9%

Value $10.18M Shares 270,542 Est. Cost $35.54 Unrealized +0.5%

FIHL FIDELIS INSURANCE HOLDINGS LTD 2.8%

Value $9.735M Shares 536,379 Est. Cost $17.03 Unrealized -2.0%

— TARGA RES CORP 2.5%

Value $8.478M Shares 50,603 Est. Cost $167.54 Unrealized —

AIG AMERICAN INTL GROUP INC 2.3%

Value $8.085M Shares 102,938 Est. Cost $37.24 Unrealized +112.5%

— ENERGY TRANSFER L P 2.2%

Value $7.584M Shares 441,939 Est. Cost $18.84 Unrealized —

ORI OLD REP INTL CORP 1.9%

Value $6.689M Shares 157,500 Est. Cost $7.98 Unrealized +351.3%

— KINDER MORGAN INC DEL 1.9%

Value $6.447M Shares 227,744 Est. Cost $21.68 Unrealized —

TFIN TRIUMPH FINANCIAL INC 1.9%

Value $6.399M Shares 127,875 Est. Cost $30.19 Unrealized +95.1%

VNOM VIPER ENERGY INC 1.4%

Value $4.923M Shares 128,808 Est. Cost $38.10 Unrealized 0.0%

HIG HARTFORD FINL SVCS CORP 1.4%

Value $4.669M Shares 35,000 Est. Cost $60.45 Unrealized +110.7%

EQH EQUITABLE HOLDINGS INC 1.1%

Value $3.824M Shares 75,300 Est. Cost $45.08 Unrealized +16.6%

— TRAVELERS GROUP INC 1.1%

Value $3.63M Shares 13,000 Est. Cost $108.15 Unrealized —

ESNT ESSENT GROUP LTD 1.0%

Value $3.302M Shares 51,958 Est. Cost $29.75 Unrealized +104.3%

RWT REDWOOD TRUST INC 0.8%

Value $2.891M Shares 499,315 Est. Cost $7.00 Unrealized —

MRP MILLROSE PPTYS INC 0.8%

Value $2.676M Shares 79,634 Est. Cost $26.96 Unrealized —

ARLP ALLIANCE RESOURCE PARTNERS L 0.5%

Value $1.78M Shares 70,400 Est. Cost $21.03 Unrealized —

NMIH NMI HOLDINGS INC 0.3%

Value $924K Shares 24,110 Est. Cost $26.45 Unrealized +47.9%

KO COCA COLA CO 0.2%

Value $842K Shares 12,700 Est. Cost $28.30 Unrealized +140.0%

MSFT MICROSOFT CORP 0.2%

Value $769K Shares 1,485 Est. Cost $140.49 Unrealized +262.1%

— KKR & CO INC 0.2%

Value $642K Shares 4,940 Est. Cost $129.96 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC 0.2%

Value $591K Shares 1,176 Est. Cost $273.36 Unrealized +77.2%

AAPL APPLE INC 0.2%

Value $530K Shares 2,080 Est. Cost $100.85 Unrealized +123.7%

RF REGIONS FINANCIAL CORP 0.1%

Value $507K Shares 19,235 Est. Cost $5.80 Unrealized +340.6%

— TIPTREE INC 0.1%

Value $426K Shares 22,246 Est. Cost $14.75 Unrealized —

— NVIDIA CORP 0.1%

Value $376K Shares 2,014 Est. Cost $123.63 Unrealized —

HOMB HOME BANCSHARES INC 0.1%

Value $283K Shares 10,000 Est. Cost $18.63 Unrealized +55.9%

MGK VANGUARD WORLD FD 0.1%

Value $283K Shares 704 Est. Cost $401.99 Unrealized —

— INVESCO QQQ TR 0.1%

Value $270K Shares 450 Est. Cost $600.00 Unrealized —

— FEDEX CORP 0.1%

Value $253K Shares 1,073 Est. Cost $235.79 Unrealized —

— ALPHABET INC CAP STK 0.1%

Value $226K Shares 930 Est. Cost $243.01 Unrealized —

ONEQ FIDELITY COMWLTH 0.1%

Value $208K Shares 2,330 Est. Cost $89.27 Unrealized —

PG PROCTOR & GAMBLE CO 0.1%

Value $206K Shares 1,341 Est. Cost $154.90 Unrealized 0.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MTG	MGIC INVESTMENT CORP	1,808,379	$51.3M	14.8%	$8.98	+203.6%	—	552848103
APO	APOLLO GLOBAL MGMT INC	294,762	$39.28M	11.4%	$63.46	+121.8%	—	03769M106
—	ALPHABET INC CAP STK	110,426	$26.89M	7.8%	$142.88	—	—	02079k107
AZO	AUTOZONE INC	5,664	$24.3M	7.0%	$701.66	+471.7%	—	053332102
PGR	PROGRESSIVE CORP OHIO	82,648	$20.41M	5.9%	$70.33	+229.4%	—	743315103
WEST	WESTROCK COFFEE CO	4,089,711	$19.88M	5.8%	$10.37	-42.0%	—	96145W103
DAR	DARLING INGREDIENTS INC	465,838	$14.38M	4.2%	$28.45	+17.4%	—	237266101
LEN/B	LENNAR CORP	113,950	$13.67M	4.0%	$87.20	+34.6%	—	526057302
AXP	AMERICAN EXPRESS CO	39,605	$13.15M	3.8%	$114.87	+175.6%	—	025816109
STWD	STARWOOD PPTY TR INC	663,612	$12.85M	3.7%	$21.81	—	—	85571B105
EG	EVEREST RE GROUP LTD	29,330	$10.73M	3.1%	$263.59	+28.1%	—	G3223R108
RRC	RANGE RES CORP	270,542	$10.18M	2.9%	$35.54	+0.5%	—	75281A109
FIHL	FIDELIS INSURANCE HOLDINGS LTD	536,379	$9.735M	2.8%	$17.03	-2.0%	—	G3398L118
—	TARGA RES CORP	50,603	$8.478M	2.5%	$167.54	—	—	87612g101
AIG	AMERICAN INTL GROUP INC	102,938	$8.085M	2.3%	$37.24	+112.5%	—	026874784
—	ENERGY TRANSFER L P	441,939	$7.584M	2.2%	$18.84	—	—	29273v100
ORI	OLD REP INTL CORP	157,500	$6.689M	1.9%	$7.98	+351.3%	—	680223104
—	KINDER MORGAN INC DEL	227,744	$6.447M	1.9%	$21.68	—	—	49456b101
TFIN	TRIUMPH FINANCIAL INC	127,875	$6.399M	1.9%	$30.19	+95.1%	—	89679E300
VNOM	VIPER ENERGY INC	128,808	$4.923M	1.4%	$38.10	0.0%	—	64361Q101
HIG	HARTFORD FINL SVCS CORP	35,000	$4.669M	1.4%	$60.45	+110.7%	—	416515104
EQH	EQUITABLE HOLDINGS INC	75,300	$3.824M	1.1%	$45.08	+16.6%	—	29452E101
—	TRAVELERS GROUP INC	13,000	$3.63M	1.1%	$108.15	—	—	894190107
ESNT	ESSENT GROUP LTD	51,958	$3.302M	1.0%	$29.75	+104.3%	—	G3198U102
RWT	REDWOOD TRUST INC	499,315	$2.891M	0.8%	$7.00	—	—	758075402
MRP	MILLROSE PPTYS INC	79,634	$2.676M	0.8%	$26.96	—	—	601137102
ARLP	ALLIANCE RESOURCE PARTNERS L	70,400	$1.78M	0.5%	$21.03	—	—	01877R108
NMIH	NMI HOLDINGS INC	24,110	$924K	0.3%	$26.45	+47.9%	—	629209305
KO	COCA COLA CO	12,700	$842K	0.2%	$28.30	+140.0%	—	191216100
MSFT	MICROSOFT CORP	1,485	$769K	0.2%	$140.49	+262.1%	—	594918104
—	KKR & CO INC	4,940	$642K	0.2%	$129.96	—	—	48251w104
BRK/B	BERKSHIRE HATHAWAY INC	1,176	$591K	0.2%	$273.36	+77.2%	—	084670702
AAPL	APPLE INC	2,080	$530K	0.2%	$100.85	+123.7%	—	037833100
RF	REGIONS FINANCIAL CORP	19,235	$507K	0.1%	$5.80	+340.6%	—	7591EP100
—	TIPTREE INC	22,246	$426K	0.1%	$14.75	—	—	88822q103
—	NVIDIA CORP	2,014	$376K	0.1%	$123.63	—	—	67066g104
HOMB	HOME BANCSHARES INC	10,000	$283K	0.1%	$18.63	+55.9%	—	436893200
MGK	VANGUARD WORLD FD	704	$283K	0.1%	$401.99	—	—	921910816
—	INVESCO QQQ TR	450	$270K	0.1%	$600.00	—	—	46090e103
—	FEDEX CORP	1,073	$253K	0.1%	$235.79	—	—	31428x106
—	ALPHABET INC CAP STK	930	$226K	0.1%	$243.01	—	—	02079k305
ONEQ	FIDELITY COMWLTH	2,330	$208K	0.1%	$89.27	—	—	315912808
PG	PROCTOR & GAMBLE CO	1,341	$206K	0.1%	$154.90	0.0%	—	742718109