NFC INVESTMENTS, LLC

PrivateCIK: 1512858

Location

MEMPHIS, TN

Positions

$359.2K

Total AUM (reported)

10.46M

Total Shares

Allocation by class

COM$259.1K72.1%

CORP$46.8K13.0%

CL C$26.0K7.2%

COM UT LTD PTN$9.2K2.6%

COM SER N$8.0K2.2%

CL A$7.1K2.0%

UT LTD PART$1.8K0.5%

Portfolio Concentration

Top 3$108.0K30.1%

4–10$131.9K36.7%

11–25$109.5K30.5%

Rest$9.8K2.7%

Top 3 weight

30.1%

Top 10 weight

66.8%

Voting Authority Distribution

Total shares with voting rights: 10.46M

Sole

Full voting authority

5.47M

% of voting shares52.3%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

4.99M

% of voting shares47.7%

Investment Discretion (by position count)

Sole41

Shared0

Other0

Dominant voting typeSole · 52.3% of voting shares

Institutional Holdings41

Rows:

MGIC INVESTMENT CORP

SOLE

CORP

Shares1.77M

TypeSH

Market value$46.4K

12.91%

Sole

1.31M

Shared

0.00

None

458.39K

APOLLO GLOBAL MGMT INC

SOLE

COM

Shares303.05K

TypeSH

Market value$33.8K

9.40%

Sole

180.66K

Shared

0.00

None

122.39K

DARLING INGREDIENTS INC

SOLE

COM

Shares449.69K

TypeSH

Market value$27.8K

7.74%

Sole

170K

Shared

0.00

None

279.69K

ALPHABET INC CAP STK

SOLE

CL C

Shares90.73K

TypeSH

Market value$26.0K

7.25%

Sole

34K

Shared

0.00

None

56.73K

PROGRESSIVE CORP OHIO

SOLE

COM

Shares129.64K

TypeSH

Market value$25.7K

7.16%

Sole

80K

Shared

0.00

None

49.64K

AUTOZONE INC

SOLE

COM

Shares5.62K

TypeSH

Market value$19.0K

5.29%

Sole

Shared

0.00

None

3.62K

FIDELIS INSURANCE HOLDINGS LTD

SOLE

COM

Shares916.41K

TypeSH

Market value$17.5K

4.88%

Sole

520K

Shared

0.00

None

396.41K

TARGA RES CORP

SOLE

COM

Shares66.50K

TypeSH

Market value$16.7K

4.64%

Sole

23K

Shared

0.00

None

43.50K

WESTROCK COFFEE CO

SOLE

COM

Shares3.53M

TypeSH

Market value$15.0K

4.18%

Sole

2.10M

Shared

0.00

None

1.43M

RANGE RES CORP

SOLE

COM

Shares264.96K

TypeSH

Market value$12.0K

3.33%

Sole

110K

Shared

0.00

None

154.96K

STARWOOD PPTY TR INC

SOLE

COM

Shares672.51K

TypeSH

Market value$11.6K

3.22%

Sole

220K

Shared

0.00

None

452.51K

AMERICAN EXPRESS CO

SOLE

COM

Shares38.13K

TypeSH

Market value$11.6K

3.22%

Sole

14.50K

Shared

0.00

None

23.63K

TOLL BROTHERS INC

SOLE

COM

Shares79.14K

TypeSH

Market value$10.8K

3.01%

Sole

28K

Shared

0.00

None

51.14K

EVEREST RE GROUP LTD

SOLE

COM

Shares29.12K

TypeSH

Market value$9.5K

2.65%

Sole

16K

Shared

0.00

None

13.12K

ENERGY TRANSFER L P

SOLE

COM UT LTD PTN

Shares477.76K

TypeSH

Market value$9.2K

2.57%

Sole

350K

Shared

0.00

None

127.76K

CAPITAL ONE FINANCIAL CORP

SOLE

COM

Shares45.02K

TypeSH

Market value$8.2K

2.29%

Sole

15K

Shared

0.00

None

30.02K

U HAUL HOLDING COMPANY

SOLE

COM SER N

Shares178.37K

TypeSH

Market value$8.0K

2.22%

Sole

60K

Shared

0.00

None

118.37K

TRIUMPH FINANCIAL INC

SOLE

COM

Shares127.53K

TypeSH

Market value$7.6K

2.12%

Sole

48K

Shared

0.00

None

79.53K

KINDER MORGAN INC DEL

SOLE

COM

Shares212.55K

TypeSH

Market value$7.1K

1.98%

Sole

0.00

Shared

0.00

None

212.55K

OLD REP INTL CORP

SOLE

COM

Shares153.25K

TypeSH

Market value$6.1K

1.70%

Sole

120K

Shared

0.00

None

33.25K

VIPER ENERGY INC

SOLE

CL A

Shares122.53K

TypeSH

Market value$5.8K

1.60%

Sole

0.00

Shared

0.00

None

122.53K

HARTFORD FINL SVCS CORP

SOLE

COM

Shares35K

TypeSH

Market value$4.7K

1.32%

Sole

35K

Shared

0.00

None

0.00

TRAVELERS GROUP INC

SOLE

COM

Shares13K

TypeSH

Market value$3.8K

1.06%

Sole

13K

Shared

0.00

None

0.00

ESSENT GROUP LTD

SOLE

COM

Shares49.13K

TypeSH

Market value$2.9K

0.80%

Sole

30K

Shared

0.00

None

19.13K

REDWOOD TRUST INC

SOLE

COM

Shares474.49K

TypeSH

Market value$2.7K

0.74%

Sole

0.00

Shared

0.00

None

474.49K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
MGIC INVESTMENT CORPSOLE	CORP	1.77M	SH	$46.4K 12.91%	1.31M	458.39K
APOLLO GLOBAL MGMT INCSOLE	COM	303.05K	SH	$33.8K 9.40%	180.66K	122.39K
DARLING INGREDIENTS INCSOLE	COM	449.69K	SH	$27.8K 7.74%	170K	279.69K
ALPHABET INC CAP STKSOLE	CL C	90.73K	SH	$26.0K 7.25%	34K	56.73K
PROGRESSIVE CORP OHIOSOLE	COM	129.64K	SH	$25.7K 7.16%	80K	49.64K
AUTOZONE INCSOLE	COM	5.62K	SH	$19.0K 5.29%	2K	3.62K
FIDELIS INSURANCE HOLDINGS LTDSOLE	COM	916.41K	SH	$17.5K 4.88%	520K	396.41K
TARGA RES CORPSOLE	COM	66.50K	SH	$16.7K 4.64%	23K	43.50K
WESTROCK COFFEE COSOLE	COM	3.53M	SH	$15.0K 4.18%	2.10M	1.43M
RANGE RES CORPSOLE	COM	264.96K	SH	$12.0K 3.33%	110K	154.96K
STARWOOD PPTY TR INCSOLE	COM	672.51K	SH	$11.6K 3.22%	220K	452.51K
AMERICAN EXPRESS COSOLE	COM	38.13K	SH	$11.6K 3.22%	14.50K	23.63K
TOLL BROTHERS INCSOLE	COM	79.14K	SH	$10.8K 3.01%	28K	51.14K
EVEREST RE GROUP LTDSOLE	COM	29.12K	SH	$9.5K 2.65%	16K	13.12K
ENERGY TRANSFER L PSOLE	COM UT LTD PTN	477.76K	SH	$9.2K 2.57%	350K	127.76K
CAPITAL ONE FINANCIAL CORPSOLE	COM	45.02K	SH	$8.2K 2.29%	15K	30.02K
U HAUL HOLDING COMPANYSOLE	COM SER N	178.37K	SH	$8.0K 2.22%	60K	118.37K
TRIUMPH FINANCIAL INCSOLE	COM	127.53K	SH	$7.6K 2.12%	48K	79.53K
KINDER MORGAN INC DELSOLE	COM	212.55K	SH	$7.1K 1.98%	0.00	212.55K
OLD REP INTL CORPSOLE	COM	153.25K	SH	$6.1K 1.70%	120K	33.25K
VIPER ENERGY INCSOLE	CL A	122.53K	SH	$5.8K 1.60%	0.00	122.53K
HARTFORD FINL SVCS CORPSOLE	COM	35K	SH	$4.7K 1.32%	35K	0.00
TRAVELERS GROUP INCSOLE	COM	13K	SH	$3.8K 1.06%	13K	0.00
ESSENT GROUP LTDSOLE	COM	49.13K	SH	$2.9K 0.80%	30K	19.13K
REDWOOD TRUST INCSOLE	COM	474.49K	SH	$2.7K 0.74%	0.00	474.49K

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