Institution

First Financial Bankshares Inc

13F for the quarter to June 30, 2026, filed August 11, 2026 · SEC CIK 36029

Reported value: $5.3bn
Positions we cover: 149
Copy, a year: +17.6%
Copy Sharpe ratio: 0.94

How copying its 13F would have done

CopyS&P 500 $10,000 copying First Financial Bankshares Inc's filed holdings in companies we cover from February 16, 2024, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −15.0% (S&P 500 −16.9%); beta 0.84; alpha +1.6% a year (t = 0.45); last 12 months +16.4% against +12.1%.

Reported value by quarter

First Financial Bankshares Inc: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).

View chart data

Period	Reported value
2023-12-31	$4.2B
2024-03-31	$4.4B
2024-06-30	$4.4B
2024-09-30	$4.8B
2024-12-31	$4.6B
2025-03-31	$4.6B
2025-06-30	$4.5B
2025-09-30	$4.9B
2025-12-31	$5B
2026-03-31	$5B
2026-06-30	$5.3B

Holdings and moves

Company	Share of portfolio	Value	Shares	Change in shares
MSFTMicrosoft Corporation	5.04%	$269.5m	722.5K	+4.0% Added
AVGOBroadcom	4.89%	$261.1m	691.3K	−1.4% Reduced
GOOGLAlphabet Inc. (Class A)	4.29%	$229.3m	641.5K	+1.1% Added
JPMJPMorgan Chase	4.13%	$220.8m	674.7K	+0.2%
AAPLApple Inc.	3.99%	$213.1m	736.6K	+0.3%
JNJJohnson & Johnson	3.04%	$162.3m	638.9K	+1.5% Added
MUMicron Technology	2.44%	$130.2m	112.8K	−22.2% Reduced
CSCOCisco	2.27%	$121.6m	1.04M	−2.1% Reduced
CVXChevron Corporation	2.00%	$107.1m	646.3K	+0.9% Added
WMBWilliams Companies	2.00%	$106.7m	1.44M	+0.2%
NVDANVIDIA Corporation	1.94%	$103.9m	519.2K	+3.9% Added
BACBank of America	1.87%	$99.9m	1.75M	+0.4%
MCDMcDonald's	1.83%	$98.0m	362.7K	+13.5% Added
MRKMerck & Co.	1.81%	$96.7m	752.8K	+1.2% Added
AMZNAmazon	1.78%	$95.2m	399.5K	+1.5% Added
BXBlackstone Inc.	1.72%	$91.7m	779.5K	−0.1%
AEPAmerican Electric Power	1.68%	$90.0m	657.7K	+0.8% Added
ETNEaton Corporation	1.68%	$89.9m	210.9K	+0.4%
KOThe Coca-Cola Company	1.67%	$89.1m	1.10M	+1.0% Added
NEENextEra Energy	1.66%	$88.8m	1.01M	+1.6% Added
CCitigroup	1.66%	$88.7m	633.6K	−1.7% Reduced
METAMeta Platforms	1.56%	$83.4m	148.0K	+2.7% Added
AMGNAmgen	1.52%	$81.4m	224.7K	+1.1% Added
PEPPepsiCo	1.44%	$76.7m	566.4K	+2.1% Added
BLKBlackRock	1.25%	$66.9m	69.6K	+0.8% Added
AMTAmerican Tower	1.22%	$65.4m	399.6K	+1.3% Added
MDTMedtronic	1.10%	$58.9m	753.0K	+4.7% Added
LMTLockheed Martin	1.06%	$56.7m	111.3K	+2.6% Added
COPConocoPhillips	0.94%	$50.3m	483.4K	+0.2%
LHXL3Harris	0.93%	$49.7m	171.0K	+1.3% Added
MDLZMondelez International	0.92%	$49.2m	850.1K	+0.6% Added
SEICSEI Investments Co	0.91%	$48.5m	552.8K	−0.3%
NOWServiceNow	0.89%	$47.7m	480.7K	+14.4% Added
NINiSource	0.88%	$47.2m	991.6K	−0.9% Reduced
HDThe Home Depot	0.88%	$46.8m	132.7K	+1.3% Added
RFRegions Financial Corporation	0.80%	$43.0m	1.42M	+0.6% Added
UNPUnion Pacific Corporation	0.75%	$39.9m	146.6K	+0.7% Added
MAMastercard	0.67%	$35.8m	69.8K	+3.2% Added
SBUXStarbucks	0.46%	$24.6m	241.0K	−0.3%
ACDCProfrac Holding Corp.	0.42%	$22.4m	3.86M	−0.9% Reduced
EHCEncompass Health Corp	0.40%	$21.6m	213.7K	+2.9% Added
ORCLOracle Corporation	0.39%	$20.8m	142.0K	+24.0% Added
WMTWalmart	0.36%	$19.5m	172.0K	+1.6% Added
UNHUnitedHealth Group	0.36%	$19.3m	46.4K	−0.9% Reduced
BKNGBooking Holdings	0.34%	$18.2m	102.0K	+2494.3% Added
ORealty Income	0.32%	$16.9m	272.4K	+0.1%
VSTVistra Corp.	0.27%	$14.6m	91.8K	+5361.9% Added
UBERUber	0.27%	$14.3m	197.7K	+108.3% Added
UTHRUnited Therapeutics Corp	0.21%	$11.5m	21.2K	+2.5% Added
ABTAbbott Laboratories	0.20%	$10.8m	119.0K	+2.5% Added
PFEPfizer	0.20%	$10.6m	438.8K	+1.2% Added
TEAMAtlassian Corp	0.16%	$8.6m	111.1K	+56.6% Added
PANWPalo Alto Networks	0.15%	$8.2m	24.0K	−36.9% Reduced
NBIXNeurocrine Biosciences Inc	0.12%	$6.6m	39.1K	+1.6% Added
AREAlexandria Real Estate Equities	0.12%	$6.3m	119.7K	+2.5% Added
KLACKLA Corporation	0.10%	$5.2m	17.2K	+821.3% Added
ISRGIntuitive Surgical	0.09%	$4.6m	11.7K	+2.1% Added
PSXPhillips 66	0.08%	$4.5m	26.4K	−3.0% Reduced
KRPKimbell Royalty Partners, LP	0.07%	$3.9m	266.3K	−1.4% Reduced
LRCXLam Research	0.06%	$3.1m	7.1K	−0.8% Reduced
GEGE Aerospace	0.05%	$2.8m	7.5K	−0.1%
MAINMain Street Capital Corp	0.04%	$2.3m	43.5K	0.0%
CATCaterpillar Inc.	0.04%	$2.0m	1.9K	−0.7% Reduced
PBProsperity Bancshares Inc	0.02%	$1.2m	16.1K	0.0%
SMBCSouthern Missouri Bancorp, Inc.	0.02%	$1.2m	15.4K	0.0%
TSLATesla, Inc.	0.02%	$1.2m	2.8K	−75.0% Reduced
VVisa Inc.	0.02%	$1.1m	3.3K	−0.3%
MCKMcKesson	0.02%	$1.1m	1.5K	0.0%
RTXRTX Corporation	0.02%	$1.1m	5.8K	−0.1%
CHEChemed Corp	0.02%	$1.1m	2.3K	0.0%
ABBVAbbVie	0.02%	$1.0m	4.1K	−7.7% Reduced
LLYLilly (Eli)	0.02%	$1.0m	850	−5.2% Reduced
MARMarriott International	0.02%	$982,434	2.7K	+0.3%
STXSeagate Technology	0.02%	$965,000	1.0K	0.0%
HYMCHycroft Mining Holding Corp	0.02%	$947,700	40.5K	0.0%
GEVGE Vernova	0.02%	$902,292	768	0.0%
TAT&T	0.02%	$884,697	42.7K	+16.3% Added
RSGRepublic Services	0.02%	$845,928	4.0K	−1.0% Reduced
CLColgate-Palmolive	0.01%	$822,461	9.0K	+0.3%
SKESkeena Resources Ltd	0.01%	$808,971	30.3K	0.0%
AMATApplied Materials	0.01%	$805,422	1.1K	0.0%
AMDAdvanced Micro Devices	0.01%	$795,847	1.4K	−0.7% Reduced
TTTrane Technologies	0.01%	$778,980	1.6K	−0.1%
VLOValero Energy	0.01%	$768,298	3.0K	0.0%
CMICummins	0.01%	$766,701	1.1K	+1.6% Added
IBMIBM	0.01%	$709,212	2.5K	New
PAGPPlains GP Holdings LP	0.01%	$698,175	28.8K	0.0%
CSXCSX Corporation	0.01%	$696,647	14.7K	−2.7% Reduced
RDNWRidenow Group, Inc.	0.01%	$668,258	100.3K	0.0%
GLWCorning Inc.	0.01%	$642,406	2.5K	0.0%
FTNTFortinet	0.01%	$640,442	4.2K	0.0%
TMOThermo Fisher Scientific	0.01%	$620,182	1.2K	−1.4% Reduced
HBMHudbay Minerals Inc.	0.01%	$583,285	24.7K	0.0%
TXNTexas Instruments	0.01%	$582,727	2.0K	+0.6% Added
COSTCostco	0.01%	$538,831	576	−0.2%
FERGFerguson Enterprises	0.01%	$520,227	2.2K	−2.4% Reduced
FCXFreeport-McMoRan	0.01%	$516,956	8.2K	+10.6% Added
DEDeere & Company	0.01%	$501,755	791	−29.1% Reduced
VZVerizon	0.01%	$498,596	11.8K	+0.9% Added
NSCNorfolk Southern	0.01%	$485,412	1.5K	0.0%
HOMBHome Bancshares Inc	0.01%	$465,508	16.3K	New
MSIFMSC Income Fund, Inc.	0.01%	$444,693	38.4K	0.0%
TSMTaiwan Semiconductor Manufacturing Co LTD	0.01%	$444,618	931	−13.3% Reduced
CRWDCrowdStrike	0.01%	$439,569	576	0.0%
HPEHewlett Packard Enterprise	0.01%	$438,650	9.7K	0.0%
NFLXNetflix	0.01%	$421,260	5.9K	−0.3%
NUENucor	0.01%	$420,998	1.9K	+0.9% Added
PGProcter & Gamble	0.01%	$417,191	2.8K	−4.0% Reduced
GDGeneral Dynamics	0.01%	$413,752	1.2K	−0.1%
RNRRenaissancere Holdings LTD	0.01%	$406,900	1.3K	0.0%
LVSLas Vegas Sands	0.01%	$381,807	8.3K	−6.9% Reduced
SLBSchlumberger	0.01%	$370,014	8.0K	−0.3%
MPCMarathon Petroleum	0.01%	$365,097	1.4K	−2.4% Reduced
TELTE Connectivity	0.01%	$357,052	1.8K	−5.6% Reduced
VEEVVeeva Systems Inc	0.01%	$351,391	2.0K	+6.7% Added
ETREntergy	0.01%	$345,154	3.0K	0.0%
PMPhilip Morris International	0.01%	$332,332	1.8K	−2.0% Reduced
LOWLowe's	0.01%	$326,105	1.5K	−12.7% Reduced
TGTTarget Corporation	0.01%	$321,301	2.5K	0.0%
AFLAflac	0.01%	$311,885	2.7K	0.0%
RKLBRocket Lab Corp	0.01%	$304,950	3.0K	New
UPSUnited Parcel Service	0.01%	$301,968	2.8K	−0.1%
PBTPermian Basin Royalty Trust	0.01%	$300,480	12.0K	0.0%
ITWIllinois Tool Works	0.01%	$299,681	1.1K	−6.7% Reduced
CEGConstellation Energy	0.01%	$296,802	1.2K	0.0%
AIZAssurant	0.01%	$294,040	1.1K	−8.1% Reduced
NOCNorthrop Grumman	0.01%	$287,760	565	0.0%
DVNDevon Energy	0.01%	$280,150	6.8K	New
FDXFedEx	0.01%	$275,555	880	−1.0% Reduced
QCOMQualcomm	0.01%	$269,239	1.5K	−12.1% Reduced
GSGoldman Sachs	0.01%	$255,877	253	−4.5% Reduced
DUKDuke Energy	0.01%	$254,932	2.0K	−16.5% Reduced
CAVACAVA Group, Inc.	0.01%	$251,685	3.2K	+8.9% Added
SOSouthern Company	0.01%	$250,473	2.6K	−0.2%
CPTCamden Property Trust	0.01%	$244,436	2.1K	−7.3% Reduced
TPLTexas Pacific Land Corporation	0.01%	$244,203	558	+13.9% Added
ADPAutomatic Data Processing	0.00%	$235,148	1.1K	−12.1% Reduced
CARRCarrier Global	0.00%	$234,720	3.2K	New
COOThe Cooper Companies	0.00%	$234,635	3.3K	−2.2% Reduced
KWRQuaker Chemical Corp	0.00%	$226,072	1.4K	New
MSMorgan Stanley	0.00%	$225,763	1.1K	New
SPGIS&P Global	0.00%	$219,106	538	−98.3% Reduced
CRMSalesforce	0.00%	$217,914	1.4K	−6.8% Reduced
HUBBHubbell Incorporated	0.00%	$213,989	409	−6.8% Reduced
NVONovo Nordisk A S	0.00%	$213,093	4.4K	New
MOAltria	0.00%	$204,698	2.8K	New
XYZBlock, Inc.	0.00%	$202,768	2.7K	New
SCHWCharles Schwab Corporation	0.00%	$201,702	2.2K	−3.8% Reduced
SJTSAN Juan Basin Royalty Trust	0.00%	$120,375	37.5K	0.0%

Company	Bought (value)	Shares
BKNGBooking Holdings	$17.5m	98.1K
VSTVistra Corp.	$14.3m	90.1K
MCDMcDonald's	$11.6m	43.1K
MSFTMicrosoft Corporation	$10.3m	27.6K
UBERUber	$7.4m	102.8K
NOWServiceNow	$6.0m	60.5K
KLACKLA Corporation	$4.6m	15.3K
ORCLOracle Corporation	$4.0m	27.5K
NVDANVIDIA Corporation	$3.9m	19.3K
TEAMAtlassian Corp	$3.1m	40.2K
MDTMedtronic	$2.6m	33.6K
JNJJohnson & Johnson	$2.4m	9.5K
GOOGLAlphabet Inc. (Class A)	$2.4m	6.7K
METAMeta Platforms	$2.2m	3.9K
PEPPepsiCo	$1.6m	11.6K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Sold (value)	Shares
MUMicron Technology	−$37.1m	−32.2K
SPGIS&P Global	−$12.8m	−31.4K
PANWPalo Alto Networks	−$4.8m	−14.0K
AVGOBroadcom	−$3.6m	−9.6K
TSLATesla, Inc.	−$3.5m	−8.3K
CSCOCisco	−$2.7m	−22.7K
SOLSSolstice Advanced Materials Inc.	−$2.0m	−26.3K
CCitigroup	−$1.6m	−11.2K
NINiSource	−$418,107	−8.8K
FANGDiamondback Energy	−$393,404	−2.0K
CMECME Group	−$232,736	−788
MSTRStrategy Inc	−$218,899	−1.8K
DEDeere & Company	−$206,157	−325
ACDCProfrac Holding Corp.	−$194,786	−33.5K
UNHUnitedHealth Group	−$180,383	−434

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Value last quarter	Shares
SOLSSolstice Advanced Materials Inc.	$2.0m	26.3K
FANGDiamondback Energy	$393,404	2.0K
CMECME Group	$232,736	788
MSTRStrategy Inc	$218,899	1.8K

Technology29.1%
Financials17.1%
Health Care11.9%
Communication Services7.6%
Energy7.2%
Consumer Discretionary6.9%
Industrials6.4%
Utilities5.9%
Consumer Staples5.7%
Real Estate2.2%
Materials0.1%

Share of the value held in companies we cover, by sector.

Period	Copy, a year	S&P 500	Sharpe	S&P 500	Biggest drop	Beta
Whole backtestFebruary 16, 2024 to November 2, 2026	+17.6%	+17.9%	0.94	0.91	−15.0%	0.84
Last yearNovember 7, 2025 to November 2, 2026	+18.1%	+14.2%	1.28	0.84	−6.5%	0.77

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.