NFC Investments
MEMPHIS, TNfiles as NFC Investments, LLC
$393m in 43 US stocks at the end of 30 June 2026. The top 10 are 63.9% of the money. It changed about 6.7% of the portfolio this quarter.
Value
$393m
Stocks
43
Top 10 share
63.9%
Turnover
6.7%
What changed this quarter
New
Bought for the first time this quarter.
- Ryan Specialty HoldingsRYAN2.8% of the fund
- Fidelity Comwlth TRONEQ<0.1% of the fund
Added
Bought more of a stock they already held.
- AutozoneAZO4.8% of the fund+5%
- Starwood Property TrustSTWD3.4% of the fund+23%
- Energy Transfer L PET3.0% of the fund+29%
- Viper EnergyVNOM1.4% of the fund+4%
- Alliance Resource Partners LARLP0.5% of the fund+15%
- Millrose PropertiesMRP0.3% of the fund+14%
- Vanguard World FDMGK0.1% of the fund+79%
- MicrosoftMSFT0.1% of the fund+3%
- KKRKKR0.1% of the fund+5%
Cut
Sold some of their stake.
- Mgic InvestmentMTG11.1% of the fund-12%
- Westrock CoffeeWEST4.3% of the fund-41%
- Targa ResourcesTRGP4.0% of the fund-11%
- Range ResourcesRRC2.4% of the fund-3%
- Essent GroupESNT0.7% of the fund-7%
- Redwood TrustRWT0.6% of the fund-4%
- Berkshire HathawayBRK-B0.1% of the fund-3%
Sold out
Sold their entire stake.
None this quarter.
Holdings
- Energy Transfer L PET
- Share
- 3.0%
- Value
- $12m
- Shares
- 614,758
+29%
- Travelers Group
- Share
- 1.1%
- Value
- $4m
- Shares
- 13,000
Held
- Alliance Resource Partners LARLP
- Share
- 0.5%
- Value
- $2m
- Shares
- 75,700
+15%
- Vanguard World FDMGK
- Share
- 0.1%
- Value
- $554,000
- Shares
- 6,300
+79%
- Invesco QQQ TRQQQ
- Share
- <0.1%
- Value
- $331,000
- Shares
- 450
Held
- Fidelity Comwlth TRONEQ
- Share
- <0.1%
- Value
- $241,000
- Shares
- 2,330
New
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Mgic InvestmentMTG | 11.1% | $44m | 1,552,750 | -12% |
| Apollo Global ManagementAPO | 9.1% | $36m | 303,258 | Held |
| AlphabetGOOG | 8.1% | $32m | 89,814 | Held |
| ProgressivePGR | 7.2% | $28m | 129,806 | Held |
| Darling IngredientsDAR | 6.2% | $24m | 444,295 | Held |
| Pelagos Insurance CapitalPLGO | 5.7% | $22m | 918,112 | Held |
| AutozoneAZO | 4.8% | $19m | 5,906 | +5% |
| Westrock CoffeeWEST | 4.3% | $17m | 2,066,711 | -41% |
| Targa ResourcesTRGP | 4.0% | $16m | 59,147 | -11% |
| Starwood Property TrustSTWD | 3.4% | $14m | 826,096 | +23% |
| Toll BrothersTOL | 3.3% | $13m | 79,764 | Held |
| American ExpressAXP | 3.3% | $13m | 38,050 | Held |
| Energy Transfer L PET | 3.0% | $12m | 614,758 | +29% |
| Ryan Specialty HoldingsRYAN | 2.8% | $11m | 293,952 | New |
| U-Haul HoldingUHAL-B | 2.6% | $10m | 180,087 | Held |
| Everest GroupEG | 2.6% | $10m | 29,066 | Held |
| Triumph FinancialTFIN | 2.5% | $10m | 127,238 | Held |
| Range ResourcesRRC | 2.4% | $10m | 258,162 | -3% |
| Capital One FinancialCOF | 2.3% | $9m | 45,631 | Held |
| Kinder MorganKMI | 1.7% | $7m | 212,090 | Held |
| Old Republic InternationalORI | 1.6% | $6m | 152,850 | Held |
| Viper EnergyVNOM | 1.4% | $5m | 127,288 | +4% |
| Hartford Insurance GroupHIG | 1.2% | $5m | 35,000 | Held |
| Travelers Group | 1.1% | $4m | 13,000 | Held |
| Essent GroupESNT | 0.7% | $3m | 45,615 | -7% |
| Redwood TrustRWT | 0.6% | $2m | 457,691 | -4% |
| Alliance Resource Partners LARLP | 0.5% | $2m | 75,700 | +15% |
| First HorizonFHN | 0.4% | $2m | 60,520 | Held |
| Millrose PropertiesMRP | 0.3% | $1m | 35,477 | +14% |
| Coca-ColaKO | 0.3% | $1m | 12,500 | Held |
| NMI HoldingsNMIH | 0.2% | $683,000 | 16,620 | Held |
| Regions FinancialRF | 0.1% | $581,000 | 19,235 | Held |
| Berkshire HathawayBRK-B | 0.1% | $573,000 | 1,145 | -3% |
| Vanguard World FDMGK | 0.1% | $554,000 | 6,300 | +79% |
| Bank of AmericaBAC | 0.1% | $476,000 | 8,347 | Held |
| MicrosoftMSFT | 0.1% | $476,000 | 1,275 | +3% |
| KKRKKR | 0.1% | $459,000 | 5,000 | +5% |
| AppleAAPL | 0.1% | $417,000 | 1,440 | Held |
| FedExFDX | <0.1% | $338,000 | 1,079 | Held |
| AlphabetGOOGL | <0.1% | $333,000 | 930 | Held |
| Invesco QQQ TRQQQ | <0.1% | $331,000 | 450 | Held |
| Pinnacle Financial PartnersPNFP | <0.1% | $304,000 | 3,014 | Held |
| Fidelity Comwlth TRONEQ | <0.1% | $241,000 | 2,330 | New |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 12.4% since 30 June 2025.
Where the money is
Financial services54.8%
Retail & consumer10.8%
Everyday goods10.7%
Energy9.6%
Media & telecom8.2%
Real estate0.8%
Technology0.2%
Industrials0.1%
Other4.8%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.