NFC Investments, LLC Long-Term Concentrated

Location: Memphis, TN

CIK: 0001512858 · Show all filings

Period: Q4 2025 (← Previous) (Next →)

Filing Date: Feb 11, 2026

Total Value: $354M

Holdings (43)

MTG MGIC INVESTMENT CORP 14.7%

Value $52.17M Shares 1,785,378 Est. Cost $8.98 Unrealized +212.8%

APO APOLLO GLOBAL MGMT INC 12.0%

Value $42.59M Shares 294,178 Est. Cost $63.46 Unrealized +108.9%

— ALPHABET INC CAP STK 9.6%

Value $33.96M Shares 108,223 Est. Cost $142.88 Unrealized —

AZO AUTOZONE INC 5.4%

Value $19.12M Shares 5,638 Est. Cost $701.66 Unrealized +438.4%

PGR PROGRESSIVE CORP OHIO 5.3%

Value $18.77M Shares 82,413 Est. Cost $70.33 Unrealized +201.9%

DAR DARLING INGREDIENTS INC 4.7%

Value $16.64M Shares 462,356 Est. Cost $28.45 Unrealized +19.0%

FIHL FIDELIS INSURANCE HOLDINGS LTD 4.5%

Value $15.84M Shares 809,454 Est. Cost $17.57 Unrealized +6.1%

WEST WESTROCK COFFEE CO 4.3%

Value $15.24M Shares 3,745,959 Est. Cost $10.37 Unrealized -57.8%

AXP AMERICAN EXPRESS CO 4.1%

Value $14.35M Shares 38,783 Est. Cost $114.87 Unrealized +210.8%

— TARGA RES CORP 3.5%

Value $12.43M Shares 67,396 Est. Cost $171.76 Unrealized —

STWD STARWOOD PPTY TR INC 3.5%

Value $12.32M Shares 683,889 Est. Cost $21.70 Unrealized —

LEN/B LENNAR CORP 3.0%

Value $10.78M Shares 113,311 Est. Cost $87.20 Unrealized +29.3%

EG EVEREST RE GROUP LTD 2.8%

Value $9.91M Shares 29,202 Est. Cost $263.59 Unrealized +25.3%

RRC RANGE RES CORP 2.7%

Value $9.502M Shares 269,478 Est. Cost $35.54 Unrealized +4.8%

TFIN TRIUMPH FINANCIAL INC 2.2%

Value $7.964M Shares 127,158 Est. Cost $30.19 Unrealized +85.6%

— ENERGY TRANSFER L P 2.2%

Value $7.771M Shares 471,236 Est. Cost $18.69 Unrealized —

ORI OLD REP INTL CORP 2.0%

Value $7.188M Shares 157,500 Est. Cost $7.98 Unrealized +411.4%

UHAL/B U HAUL HOLDING COMPANY 1.9%

Value $6.74M Shares 144,212 Est. Cost $48.68 Unrealized 0.0%

— KINDER MORGAN INC DEL 1.8%

Value $6.201M Shares 225,600 Est. Cost $21.68 Unrealized —

VNOM VIPER ENERGY INC 1.4%

Value $4.931M Shares 127,652 Est. Cost $38.10 Unrealized -0.6%

HIG HARTFORD FINL SVCS CORP 1.4%

Value $4.823M Shares 35,000 Est. Cost $60.45 Unrealized +117.7%

— TRAVELERS GROUP INC 1.1%

Value $3.771M Shares 13,000 Est. Cost $108.15 Unrealized —

EQH EQUITABLE HOLDINGS INC 1.0%

Value $3.588M Shares 75,300 Est. Cost $45.08 Unrealized +4.8%

ESNT ESSENT GROUP LTD 1.0%

Value $3.378M Shares 51,958 Est. Cost $29.75 Unrealized +108.7%

RWT REDWOOD TRUST INC 0.8%

Value $2.762M Shares 499,457 Est. Cost $7.00 Unrealized —

MRP MILLROSE PPTYS INC 0.7%

Value $2.373M Shares 79,461 Est. Cost $26.96 Unrealized —

ARLP ALLIANCE RESOURCE PARTNERS L 0.5%

Value $1.619M Shares 69,700 Est. Cost $21.03 Unrealized —

NMIH NMI HOLDINGS INC 0.3%

Value $983K Shares 24,110 Est. Cost $26.45 Unrealized +42.9%

KO COCA COLA CO 0.2%

Value $874K Shares 12,500 Est. Cost $28.30 Unrealized +145.2%

MSFT MICROSOFT CORP 0.2%

Value $718K Shares 1,485 Est. Cost $140.49 Unrealized +256.3%

— KKR & CO INC 0.2%

Value $604K Shares 4,740 Est. Cost $129.96 Unrealized —

BRK/B BERKSHIRE HATHAWAY INC 0.2%

Value $591K Shares 1,176 Est. Cost $273.36 Unrealized +82.0%

AAPL APPLE INC 0.2%

Value $566K Shares 2,080 Est. Cost $100.85 Unrealized +166.1%

RF REGIONS FINANCIAL CORP 0.1%

Value $521K Shares 19,235 Est. Cost $5.80 Unrealized +337.7%

— TIPTREE INC 0.1%

Value $406K Shares 22,246 Est. Cost $14.75 Unrealized —

— FEDEX CORP 0.1%

Value $311K Shares 1,075 Est. Cost $235.79 Unrealized —

— ALPHABET INC CAP STK 0.1%

Value $291K Shares 930 Est. Cost $243.01 Unrealized —

MGK VANGUARD WORLD FD 0.1%

Value $290K Shares 704 Est. Cost $401.99 Unrealized —

— NVIDIA CORP 0.1%

Value $282K Shares 1,514 Est. Cost $123.63 Unrealized —

HOMB HOME BANCSHARES INC 0.1%

Value $278K Shares 10,000 Est. Cost $18.63 Unrealized +48.9%

— INVESCO QQQ TR 0.1%

Value $276K Shares 450 Est. Cost $600.00 Unrealized —

FHN FIRST HRIZON NATIONAL CORP 0.1%

Value $227K Shares 9,498 Est. Cost $22.18 Unrealized 0.0%

ONEQ FIDELITY COMWLTH 0.1%

Value $213K Shares 2,330 Est. Cost $89.27 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MTG	MGIC INVESTMENT CORP	1,785,378	$52.17M	14.7%	$8.98	+212.8%	—	552848103
APO	APOLLO GLOBAL MGMT INC	294,178	$42.59M	12.0%	$63.46	+108.9%	—	03769M106
—	ALPHABET INC CAP STK	108,223	$33.96M	9.6%	$142.88	—	—	02079k107
AZO	AUTOZONE INC	5,638	$19.12M	5.4%	$701.66	+438.4%	—	053332102
PGR	PROGRESSIVE CORP OHIO	82,413	$18.77M	5.3%	$70.33	+201.9%	—	743315103
DAR	DARLING INGREDIENTS INC	462,356	$16.64M	4.7%	$28.45	+19.0%	—	237266101
FIHL	FIDELIS INSURANCE HOLDINGS LTD	809,454	$15.84M	4.5%	$17.57	+6.1%	—	G3398L118
WEST	WESTROCK COFFEE CO	3,745,959	$15.24M	4.3%	$10.37	-57.8%	—	96145W103
AXP	AMERICAN EXPRESS CO	38,783	$14.35M	4.1%	$114.87	+210.8%	—	025816109
—	TARGA RES CORP	67,396	$12.43M	3.5%	$171.76	—	—	87612g101
STWD	STARWOOD PPTY TR INC	683,889	$12.32M	3.5%	$21.70	—	—	85571B105
LEN/B	LENNAR CORP	113,311	$10.78M	3.0%	$87.20	+29.3%	—	526057302
EG	EVEREST RE GROUP LTD	29,202	$9.91M	2.8%	$263.59	+25.3%	—	G3223R108
RRC	RANGE RES CORP	269,478	$9.502M	2.7%	$35.54	+4.8%	—	75281A109
TFIN	TRIUMPH FINANCIAL INC	127,158	$7.964M	2.2%	$30.19	+85.6%	—	89679E300
—	ENERGY TRANSFER L P	471,236	$7.771M	2.2%	$18.69	—	—	29273v100
ORI	OLD REP INTL CORP	157,500	$7.188M	2.0%	$7.98	+411.4%	—	680223104
UHAL/B	U HAUL HOLDING COMPANY	144,212	$6.74M	1.9%	$48.68	0.0%	—	023586506
—	KINDER MORGAN INC DEL	225,600	$6.201M	1.8%	$21.68	—	—	49456b101
VNOM	VIPER ENERGY INC	127,652	$4.931M	1.4%	$38.10	-0.6%	—	64361Q101
HIG	HARTFORD FINL SVCS CORP	35,000	$4.823M	1.4%	$60.45	+117.7%	—	416515104
—	TRAVELERS GROUP INC	13,000	$3.771M	1.1%	$108.15	—	—	894190107
EQH	EQUITABLE HOLDINGS INC	75,300	$3.588M	1.0%	$45.08	+4.8%	—	29452E101
ESNT	ESSENT GROUP LTD	51,958	$3.378M	1.0%	$29.75	+108.7%	—	G3198U102
RWT	REDWOOD TRUST INC	499,457	$2.762M	0.8%	$7.00	—	—	758075402
MRP	MILLROSE PPTYS INC	79,461	$2.373M	0.7%	$26.96	—	—	601137102
ARLP	ALLIANCE RESOURCE PARTNERS L	69,700	$1.619M	0.5%	$21.03	—	—	01877R108
NMIH	NMI HOLDINGS INC	24,110	$983K	0.3%	$26.45	+42.9%	—	629209305
KO	COCA COLA CO	12,500	$874K	0.2%	$28.30	+145.2%	—	191216100
MSFT	MICROSOFT CORP	1,485	$718K	0.2%	$140.49	+256.3%	—	594918104
—	KKR & CO INC	4,740	$604K	0.2%	$129.96	—	—	48251w104
BRK/B	BERKSHIRE HATHAWAY INC	1,176	$591K	0.2%	$273.36	+82.0%	—	084670702
AAPL	APPLE INC	2,080	$566K	0.2%	$100.85	+166.1%	—	037833100
RF	REGIONS FINANCIAL CORP	19,235	$521K	0.1%	$5.80	+337.7%	—	7591EP100
—	TIPTREE INC	22,246	$406K	0.1%	$14.75	—	—	88822q103
—	FEDEX CORP	1,075	$311K	0.1%	$235.79	—	—	31428x106
—	ALPHABET INC CAP STK	930	$291K	0.1%	$243.01	—	—	02079k305
MGK	VANGUARD WORLD FD	704	$290K	0.1%	$401.99	—	—	921910816
—	NVIDIA CORP	1,514	$282K	0.1%	$123.63	—	—	67066g104
HOMB	HOME BANCSHARES INC	10,000	$278K	0.1%	$18.63	+48.9%	—	436893200
—	INVESCO QQQ TR	450	$276K	0.1%	$600.00	—	—	46090e103
FHN	FIRST HRIZON NATIONAL CORP	9,498	$227K	0.1%	$22.18	0.0%	—	320517105
ONEQ	FIDELITY COMWLTH	2,330	$213K	0.1%	$89.27	—	—	315912808