# NFC Investments, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1512858. Source: https://holderbook.com/funds/1512858-nfc-investments-llc/

- Reported value: $393.2M
- Positions: 43
- Weight of the ten largest: 63.9%
- Filed: 2026-08-13

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| MGIC INVT CORP WIS | [MTG](https://holderbook.com/stocks/MTG/) | $43.8M | 1,552,750 | 11.1% | 30 |
| APOLLO GLOBAL MGMT INC | [APO](https://holderbook.com/stocks/APO/) | $35.9M | 303,258 | 9.1% | 17 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $31.7M | 89,814 | 8.1% | 30 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $28.4M | 129,806 | 7.2% | 26 |
| DARLING INGREDIENTS INC | [DAR](https://holderbook.com/stocks/DAR/) | $24.3M | 444,295 | 6.2% | 30 |
| PELAGOS INS CAP LTD | [PLGO](https://holderbook.com/stocks/PLGO/) | $22.4M | 918,112 | 5.7% | 7 |
| AUTOZONE INC | [AZO](https://holderbook.com/stocks/AZO/) | $18.9M | 5,906 | 4.8% | 30 |
| WESTROCK COFFEE CO | [WEST](https://holderbook.com/stocks/WEST/) | $16.8M | 2,066,711 | 4.3% | 15 |
| TARGA RES CORP | [TRGP](https://holderbook.com/stocks/TRGP/) | $15.9M | 59,147 | 4.0% | 4 |
| STARWOOD PPTY TR INC | [STWD](https://holderbook.com/stocks/STWD/) | $13.5M | 826,096 | 3.4% | 30 |
| TOLL BROTHERS INC | [TOL](https://holderbook.com/stocks/TOL/) | $13.1M | 79,764 | 3.3% | 2 |
| AMERICAN EXPRESS CO | [AXP](https://holderbook.com/stocks/AXP/) | $12.9M | 38,050 | 3.3% | 25 |
| ENERGY TRANSFER L P | [ET](https://holderbook.com/stocks/ET/) | $11.8M | 614,758 | 3.0% | 9 |
| RYAN SPECIALTY HOLDINGS INC | [RYAN](https://holderbook.com/stocks/RYAN/) | $11.1M | 293,952 | 2.8% | 1 |
| U HAUL HOLDING COMPANY | [UHALB](https://holderbook.com/stocks/UHALB/) | $10.4M | 180,087 | 2.6% | 3 |
| EVEREST GROUP LTD | [EG](https://holderbook.com/stocks/EG/) | $10.4M | 29,066 | 2.6% | 30 |
| TRIUMPH FINANCIAL INC | [TFIN](https://holderbook.com/stocks/TFIN/) | $9.7M | 127,238 | 2.5% | 30 |
| RANGE RES CORP | [RRC](https://holderbook.com/stocks/RRC/) | $9.6M | 258,162 | 2.4% | 7 |
| CAPITAL ONE FINL CORP | [COF](https://holderbook.com/stocks/COF/) | $9.2M | 45,631 | 2.3% | 2 |
| KINDER MORGAN INC DEL | [KMI](https://holderbook.com/stocks/KMI/) | $6.8M | 212,090 | 1.7% | 9 |
| OLD REP INTL CORP | [ORI](https://holderbook.com/stocks/ORI/) | $6.3M | 152,850 | 1.6% | 30 |
| VIPER ENERGY INC | [VNOM](https://holderbook.com/stocks/VNOM/) | $5.4M | 127,288 | 1.4% | 4 |
| HARTFORD INSURANCE GROUP INC | [HIG](https://holderbook.com/stocks/HIG/) | $4.6M | 35,000 | 1.2% | 19 |
| TRAVELERS GROUP INC | - | $4.3M | 13,000 | 1.1% | 23 |
| ESSENT GROUP LTD | [ESNT](https://holderbook.com/stocks/ESNT/) | $2.9M | 45,615 | 0.7% | 25 |
| REDWOOD TRUST INC | [RWT](https://holderbook.com/stocks/RWT/) | $2.2M | 457,691 | 0.6% | 9 |
| ALLIANCE RESOURCE PARTNERS L | [ARLP](https://holderbook.com/stocks/ARLP/) | $1.8M | 75,700 | 0.5% | 11 |
| FIRST HORIZON CORPORATION | [FHN](https://holderbook.com/stocks/FHN/) | $1.6M | 60,520 | 0.4% | 3 |
| MILLROSE PPTYS INC | [MRP](https://holderbook.com/stocks/MRP/) | $1.1M | 35,477 | 0.3% | 6 |
| COCA COLA CO | [KO](https://holderbook.com/stocks/KO/) | $1.0M | 12,500 | 0.3% | 30 |
| NMI HLDGS INC | [NMIH](https://holderbook.com/stocks/NMIH/) | $683.0K | 16,620 | 0.2% | 25 |
| REGIONS FINANCIAL CORP NEW | [RF](https://holderbook.com/stocks/RF/) | $581.0K | 19,235 | 0.1% | 30 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $573.0K | 1,145 | 0.1% | 30 |
| VANGUARD WORLD FD | [MGK](https://holderbook.com/stocks/MGK/) | $554.0K | 6,300 | 0.1% | 4 |
| BANK OF AMER CORP | [BAC](https://holderbook.com/stocks/BAC/) | $476.0K | 8,347 | 0.1% | 2 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $476.0K | 1,275 | 0.1% | 28 |
| KKR & CO INC | [KKR](https://holderbook.com/stocks/KKR/) | $459.0K | 5,000 | 0.1% | 4 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $417.0K | 1,440 | 0.1% | 26 |
| FEDEX CORP | [FDX](https://holderbook.com/stocks/FDX/) | $338.0K | 1,079 | 0.1% | 4 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $333.0K | 930 | 0.1% | 4 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $331.0K | 450 | 0.1% | 4 |
| PINNACLE FINL PARTNERS INC | [PNFP](https://holderbook.com/stocks/PNFP/) | $304.0K | 3,014 | 0.1% | 2 |
| FIDELITY COMWLTH TR | [ONEQ](https://holderbook.com/stocks/ONEQ/) | $241.0K | 2,330 | 0.1% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +10.1% | +14.8% | -4.7% | 99% |
| Q1 2026 | -1.5% | -4.6% | +3.1% | 99% |
| Q4 2025 | +1.6% | +2.4% | -0.7% | 99% |
| Q3 2025 | +0.8% | +7.8% | -7.1% | 98% |
| Q2 2025 | +2.0% | +10.5% | -8.5% | 99% |
| Q1 2025 | -1.5% | -4.6% | +3.1% | 99% |
| Q4 2024 | +3.4% | +2.1% | +1.2% | 99% |
| Q3 2024 | +4.6% | +5.4% | -0.8% | 99% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $393.2M | 43 |
| Q1 2026 | $359.2M | 41 |
| Q4 2025 | $354.2M | 43 |
| Q3 2025 | $345.5M | 43 |
| Q2 2025 | $349.7M | 36 |
| Q1 2025 | $336.4M | 36 |
| Q4 2024 | $362.4M | 37 |
| Q3 2024 | $348.1M | 35 |
| Q2 2024 | $348.6M | 36 |
| Q1 2024 | $347.7M | 32 |
| Q4 2023 | $323.3M | 31 |
| Q2 2023 | $303.8M | 32 |