Data as of Q4 2025 (Dec 31, 2025)

NFC Investments, LLC

•CIK: 1512858•Filing: Q4 2025

**NFC Investments, LLC** manages $354M across a concentrated portfolio of 43 positions. The fund exhibits significant conviction in select names, with top holdings including MTG at $52.2M and APO at $42.6M. Further substantial allocations are visible in GOOGL ($34.0M) and AZO ($19.1M). This structure suggests a focused, high-conviction approach across diverse sectors.

Total AUM
$354.2M
QoQ Performance
+2.5%
Positions
42
Top 10 Concentration
68.1%
Latest Filing
Q4 2025

Top Holdings Allocation

MTG
APO
GOOGL
AZO
PGR
MTG14.7%
APO12.0%
GOOGL9.6%
AZO5.4%
PGR5.3%
DAR4.7%
FIHL4.5%
WEST4.3%

📈 Biggest Buys

UHAL/B
U HAUL HOLDING COMPANY
NEW
1.9% of portfolio
FIHL
FIDELIS INSURANCE HOLDINGS LTD
+50.9%
4.5% of portfolio
—
TARGA RES CORP
+33.2%
3.5% of portfolio
—
ENERGY TRANSFER L P
+6.6%
2.2% of portfolio
STWD
STARWOOD PPTY TR INC
+3.1%
3.5% of portfolio

📉 Biggest Sells

WEST
WESTROCK COFFEE CO
-8.4%
4.3% of portfolio
GOOGL
ALPHABET INC CAP STK
-2.0%
9.6% of portfolio
MTG
MGIC INVESTMENT CORP
-1.3%
14.7% of portfolio
AXP
AMERICAN EXPRESS CO
-2.1%
4.1% of portfolio
DAR
DARLING INGREDIENTS INC
-0.7%
4.7% of portfolio

Sector Breakdown

Other85.6%
Technology10.0%
Financial4.2%
Consumer Staples0.2%

🚪 Exited Positionssold since Q3 2025

AIG
AMERICAN INTL GROUP INC
SOLD
$8.1M
PG
PROCTOR & GAMBLE CO
SOLD
$206.0K

Changes from Q3 2025

NEW2 new positions
↑6 increased
↓19 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023

📌 Top Holdings

MTG14.7%
MGIC INVESTMENT CORP
$52.2M
APO12.0%
APOLLO GLOBAL MGMT INC
$42.6M
GOOGL9.6%
ALPHABET INC CAP STK
$34.0M
AZO5.4%
AUTOZONE INC
$19.1M
PGR5.3%
PROGRESSIVE CORP OHIO
$18.8M

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