Filed: 11/10/2025ACC: 0001193125-25-274203
📋 What this filing means
FIRST FINANCIAL BANKSHARES INC filed this quarterly 13F‑HR report disclosing 234 equity positions with a total reported market value of $4.87B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
234
Positions
$4.87B
Total AUM (reported)
44.44M
Total Shares
Allocation by class
COM$3.22B66.2%
TOTAL BND MRKT$193.60M4.0%
CORE S&P MCP ETF$181.82M3.7%
CAP STK CL A$176.37M3.6%
CL A$168.81M3.5%
SHS$159.08M3.3%
VAN FTSE DEV MKT$129.32M2.7%
Portfolio Concentration
Top 3$811.40M16.7%
4–10$1.12B23.0%
11–25$1.23B25.4%
Rest$1.70B35.0%
Top 3 weight
16.7%
Top 10 weight
39.7%
Voting Authority Distribution
Total shares with voting rights: 44.44M
Sole
Full voting authority
44.08M
shares
% of voting shares99.2%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
358.12K
shares
% of voting shares0.8%
Investment Discretion (by position count)
Sole0
Shared0
Other234
Dominant voting typeSole · 99.2% of voting shares
Institutional Holdings234
Rows:
MICROSOFT CORP
DFNDShares629.38K
TypeSH
Market value$325.99M
6.70%
Sole
624.93K
Shared
0.00
None
4.45K
BROADCOM INC
DFNDShares777.05K
TypeSH
Market value$256.36M
5.27%
Sole
770.64K
Shared
0.00
None
6.40K
JPMORGAN CHASE & CO.
DFNDShares726.20K
TypeSH
Market value$229.06M
4.71%
Sole
723K
Shared
0.00
None
3.19K
VANGUARD BD INDEX FDS
DFNDShares2.60M
TypeSH
Market value$193.60M
3.98%
Sole
2.57M
Shared
0.00
None
35.66K
APPLE INC
DFNDShares734.42K
TypeSH
Market value$187.01M
3.84%
Sole
728.72K
Shared
0.00
None
5.71K
ISHARES TR
DFNDShares2.79M
TypeSH
Market value$181.82M
3.74%
Sole
2.75M
Shared
0.00
None
39.93K
ALPHABET INC
DFNDShares725.52K
TypeSH
Market value$176.37M
3.62%
Sole
716.75K
Shared
0.00
None
8.77K
VANGUARD TAX-MANAGED FDS
DFNDShares2.16M
TypeSH
Market value$129.32M
2.66%
Sole
2.15M
Shared
0.00
None
11.62K
JOHNSON & JOHNSON
DFNDShares693.87K
TypeSH
Market value$128.66M
2.64%
Sole
690.83K
Shared
0.00
None
3.04K
BLACKSTONE INC
DFNDShares719.81K
TypeSH
Market value$122.98M
2.53%
Sole
715.02K
Shared
0.00
None
4.79K
CHEVRON CORP NEW
DFNDShares632.60K
TypeSH
Market value$98.24M
2.02%
Sole
629.74K
Shared
0.00
None
2.86K
MCDONALDS CORP
DFNDShares314.63K
TypeSH
Market value$95.61M
1.96%
Sole
313.42K
Shared
0.00
None
1.21K
NVIDIA CORPORATION
DFNDShares509.84K
TypeSH
Market value$95.13M
1.95%
Sole
502.71K
Shared
0.00
None
7.13K
WILLIAMS COS INC
DFNDShares1.46M
TypeSH
Market value$92.54M
1.90%
Sole
1.46M
Shared
0.00
None
5.53K
EATON CORP PLC
DFNDShares246.80K
TypeSH
Market value$92.36M
1.90%
Sole
245.50K
Shared
0.00
None
1.30K
BANK AMERICA CORP
DFNDShares1.68M
TypeSH
Market value$86.65M
1.78%
Sole
1.67M
Shared
0.00
None
6.09K
BLACKROCK INC
DFNDShares68.14K
TypeSH
Market value$79.44M
1.63%
Sole
67.86K
Shared
0.00
None
274.00
VANGUARD SCOTTSDALE FDS
DFNDShares988.97K
TypeSH
Market value$79.05M
1.62%
Sole
974.52K
Shared
0.00
None
14.45K
AMAZON COM INC
DFNDShares346.13K
TypeSH
Market value$76.00M
1.56%
Sole
340.72K
Shared
0.00
None
5.41K
PEPSICO INC
DFNDShares539.72K
TypeSH
Market value$75.80M
1.56%
Sole
537.51K
Shared
0.00
None
2.21K
HONEYWELL INTL INC
DFNDShares356.89K
TypeSH
Market value$75.13M
1.54%
Sole
355.29K
Shared
0.00
None
1.60K
VANGUARD SCOTTSDALE FDS
DFNDShares1.27M
TypeSH
Market value$74.78M
1.54%
Sole
1.25M
Shared
0.00
None
18.25K
NEXTERA ENERGY INC
DFNDShares950.63K
TypeSH
Market value$71.76M
1.47%
Sole
946.47K
Shared
0.00
None
4.16K
AMERICAN ELEC PWR CO INC
DFNDShares633.08K
TypeSH
Market value$71.22M
1.46%
Sole
630.67K
Shared
0.00
None
2.42K
CISCO SYS INC
DFNDShares1.03M
TypeSH
Market value$70.70M
1.45%
Sole
1.03M
Shared
0.00
None
4.86K
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
MICROSOFT CORPDFND | COM | 629.38K | SH | $325.99M 6.70% | 624.93K | 0.00 | 4.45K |
BROADCOM INCDFND | COM | 777.05K | SH | $256.36M 5.27% | 770.64K | 0.00 | 6.40K |
JPMORGAN CHASE & CO.DFND | COM | 726.20K | SH | $229.06M 4.71% | 723K | 0.00 | 3.19K |
VANGUARD BD INDEX FDSDFND | TOTAL BND MRKT | 2.60M | SH | $193.60M 3.98% | 2.57M | 0.00 | 35.66K |
APPLE INCDFND | COM | 734.42K | SH | $187.01M 3.84% | 728.72K | 0.00 | 5.71K |
ISHARES TRDFND | CORE S&P MCP ETF | 2.79M | SH | $181.82M 3.74% | 2.75M | 0.00 | 39.93K |
ALPHABET INCDFND | CAP STK CL A | 725.52K | SH | $176.37M 3.62% | 716.75K | 0.00 | 8.77K |
VANGUARD TAX-MANAGED FDSDFND | VAN FTSE DEV MKT | 2.16M | SH | $129.32M 2.66% | 2.15M | 0.00 | 11.62K |
JOHNSON & JOHNSONDFND | COM | 693.87K | SH | $128.66M 2.64% | 690.83K | 0.00 | 3.04K |
BLACKSTONE INCDFND | COM | 719.81K | SH | $122.98M 2.53% | 715.02K | 0.00 | 4.79K |
CHEVRON CORP NEWDFND | COM | 632.60K | SH | $98.24M 2.02% | 629.74K | 0.00 | 2.86K |
MCDONALDS CORPDFND | COM | 314.63K | SH | $95.61M 1.96% | 313.42K | 0.00 | 1.21K |
NVIDIA CORPORATIONDFND | COM | 509.84K | SH | $95.13M 1.95% | 502.71K | 0.00 | 7.13K |
WILLIAMS COS INCDFND | COM | 1.46M | SH | $92.54M 1.90% | 1.46M | 0.00 | 5.53K |
EATON CORP PLCDFND | SHS | 246.80K | SH | $92.36M 1.90% | 245.50K | 0.00 | 1.30K |
BANK AMERICA CORPDFND | COM | 1.68M | SH | $86.65M 1.78% | 1.67M | 0.00 | 6.09K |
BLACKROCK INCDFND | COM | 68.14K | SH | $79.44M 1.63% | 67.86K | 0.00 | 274.00 |
VANGUARD SCOTTSDALE FDSDFND | SHRT TRM CORP BD | 988.97K | SH | $79.05M 1.62% | 974.52K | 0.00 | 14.45K |
AMAZON COM INCDFND | COM | 346.13K | SH | $76.00M 1.56% | 340.72K | 0.00 | 5.41K |
PEPSICO INCDFND | COM | 539.72K | SH | $75.80M 1.56% | 537.51K | 0.00 | 2.21K |
HONEYWELL INTL INCDFND | COM | 356.89K | SH | $75.13M 1.54% | 355.29K | 0.00 | 1.60K |
VANGUARD SCOTTSDALE FDSDFND | SHORT TERM TREAS | 1.27M | SH | $74.78M 1.54% | 1.25M | 0.00 | 18.25K |
NEXTERA ENERGY INCDFND | COM | 950.63K | SH | $71.76M 1.47% | 946.47K | 0.00 | 4.16K |
AMERICAN ELEC PWR CO INCDFND | COM | 633.08K | SH | $71.22M 1.46% | 630.67K | 0.00 | 2.42K |
CISCO SYS INCDFND | COM | 1.03M | SH | $70.70M 1.45% | 1.03M | 0.00 | 4.86K |
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