FIRST FINL BANKSHARES INC FFIN
COM · Common Stock · CUSIP 32020R109
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($2.0m this quarter). Holder counts are more reliable. Shares outstanding: 143.2m as of 2025-11-07, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $33.67. Options: 2 managers hold calls ($434.1k notional), 2 hold puts ($982.6k).
Trends to Q3 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 284 |
| Q4 2022 | 282 |
| Q1 2023 | 275 |
| Q2 2023 | 261 |
| Q3 2023 | 276 |
| Q4 2023 | 279 |
| Q1 2024 | 276 |
| Q2 2024 | 298 |
| Q3 2024 | 301 |
| Q4 2024 | 324 |
| Q1 2025 | 340 |
| Q2 2025 | 341 |
| Q3 2025 | 344 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2023 | 134 | 120 |
| Q1 2024 | 124 | 123 |
| Q2 2024 | 145 | 111 |
| Q3 2024 | 124 | 144 |
| Q4 2024 | 142 | 128 |
| Q1 2025 | 168 | 137 |
| Q2 2025 | 169 | 143 |
| Q3 2025 | 175 | 133 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $3.1m | $1.6m | 0.52 |
| Q1 2025 | $28.7k | $2.1m | 72.23 |
| Q2 2025 | $3.2m | $1.9m | 0.60 |
| Q3 2025 | $434.1k | $982.6k | 2.26 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +608.4k |
| NFJ INVESTMENT GROUP, LLC | Added | +393.6k |
| BANK OF AMERICA CORP /DE/ | Added | +311.6k |
| AXIOM INVESTORS LLC /DE | Added | +284.6k |
| AQR CAPITAL MANAGEMENT LLC | Added | +250.4k |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC | Added | +219.5k |
| STATE STREET CORP | Added | +166.3k |
| STIFEL FINANCIAL CORP | Added | +135.8k |
| UBS Group AG | Added | +134.5k |
| Verition Fund Management LLC | Added | +117.3k |
Biggest sellers
| JUPITER ASSET MANAGEMENT LTD | Sold out | -422.2k |
| AMERIPRISE FINANCIAL INC | Reduced | -369.0k |
| WELLS FARGO & COMPANY/MN | Reduced | -275.9k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -265.5k |
| MORGAN STANLEY | Reduced | -195.2k |
| BlackRock, Inc. | Reduced | -192.3k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | -155.8k |
| EMERALD ADVISERS, LLC | Reduced | -148.1k |
| NATIXIS ADVISORS, LLC | Reduced | -146.4k |
| VANGUARD GROUP INC | Reduced | -123.8k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $430.7k12.8k shares |
| GROUP ONE TRADING LLC | New | $3.4k100 shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $750.4k22.3k shares |
| GROUP ONE TRADING LLC | Unchanged | $232.2k6.9k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.1% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales in Q3 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2023 | 6 | $291.3k | 0 | — | — |
| Q1 2024 | 1 | $17.8k | 0 | — | — |
| Q2 2024 | 6 | $415.8k | 0 | — | — |
| Q3 2024 | 1 | $18.5k | 0 | — | — |
| Q4 2024 | 1 | $10.2k | 2 | $1.3m | — |
| Q1 2025 | 2 | $229.3k | 0 | — | — |
| Q2 2025 | 3 | $227.6k | 0 | — | — |
| Q3 2025 | 1 | $20.2k | 0 | — | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-07-23 | Nickles Robert Clark Jr Director · By Limited Liability Corporation | Bought | $20.2k550 shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.01% of their portfolio | 17.3m $580.8m | Reduced -192.3k |
| VANGUARD GROUP INC 0.01% of their portfolio | 13.8m $462.8m | Reduced -123.8k |
| STATE STREET CORP 0.01% of their portfolio | 6.1m $204.8m | Added +166.3k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 3.5m $118.0m | Added +55.7k |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 0.29% of their portfolio | 3.5m $117.0m | Added +219.5k |
| NEUBERGER BERMAN GROUP LLC 0.08% of their portfolio | 3.2m $109.3m | Reduced -34.1k |
| MORGAN STANLEY 0.01% of their portfolio | 3.1m $103.6m | Reduced -195.2k |
| Champlain Investment Partners, LLC 0.71% of their portfolio | 2.8m $94.2m | Reduced -29.2k |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 2.6m $85.8m | Added +48 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 1.7m $57.4m | Added +19.3k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 1.7m $57.1m | Reduced -15.7k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 1.3m $43.4m | Added +311.6k |
| Invesco Ltd. 0.01% of their portfolio | 1.1m $38.5m | Added +43.0k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 1.0m $34.9m | Reduced -33.0k |
| FULLER & THALER ASSET MANAGEMENT, INC. 0.12% of their portfolio | 1.0m $34.6m | Added +28.0k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 945.1k $31.8m | Added +608.4k |
| NFJ INVESTMENT GROUP, LLC 1.05% of their portfolio | 908.4k $30.6m | Added +393.6k |
| Nuveen, LLC 0.01% of their portfolio | 828.6k $27.9m | Reduced -72.4k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 754.4k $25.4m | Added +70.0k |
| AQR CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 740.7k $24.9m | Added +250.4k |
| AXIOM INVESTORS LLC /DE 0.16% of their portfolio | 646.3k $21.7m | Added +284.6k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 641.1k $21.6m | Reduced -369.0k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 575.5k $19.4m | Reduced -275.9k |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.17% of their portfolio | 477.0k $16.1m | Reduced -7.8k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 433.5k $14.6m | Reduced -6.9k |
| NATIXIS ADVISORS, LLC 0.02% of their portfolio | 428.0k $14.4m | Reduced -146.4k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio | 415.6k $14.0m | Reduced -19.9k |
| UBS Group AG 0.00% of their portfolio | 411.6k $13.9m | Added +134.5k |
| STIFEL FINANCIAL CORP 0.01% of their portfolio | 406.1k $13.7m | Added +135.8k |
| BARCLAYS PLC 0.00% of their portfolio | 338.0k $11.4m | Reduced -3.0k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 304.2k $10.2m | Added +4.3k |
| FMR LLC 0.00% of their portfolio | 301.9k $10.2m | Added +34.3k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 294.7k $9.9m | Reduced -1.4k |
| PANAGORA ASSET MANAGEMENT INC 0.04% of their portfolio | 291.1k $9.8m | Added +1.4k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 268.0k $9.0m | Reduced -18.8k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 262.8k $8.8m | Reduced -7.3k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 248.4k $8.4m | Reduced -265.5k |
| Swiss National Bank 0.00% of their portfolio | 235.7k $7.9m | Added +3.5k |
| California Public Employees Retirement System 0.00% of their portfolio | 233.7k $7.9m | Added +15.9k |
| Man Group plc 0.01% of their portfolio | 220.0k $7.4m | Added +10.7k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio | 217.3k $7.3m | Added +61.0k |
| EULAV Asset Management 0.16% of their portfolio | 206.5k $6.9m | Unchanged |
| Sanctuary Advisors, LLC 0.02% of their portfolio | 203.0k $7.1m | Added +103.5k |
| Legal & General Group Plc 0.00% of their portfolio | 200.3k $6.7m | Reduced -5.4k |
| FIRST TRUST ADVISORS LP 0.00% of their portfolio | 198.4k $6.7m | Reduced -41.6k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 194.0k $6.5m | Unchanged |
| FEDERATED HERMES, INC. 0.01% of their portfolio | 186.6k $6.3m | Added +20.1k |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 184.0k $6.2m | Added +58.3k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 179.8k $6.0m | Added +78.6k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.02% of their portfolio | 174.4k $5.9m | Added +4.3k |
| CFM WEALTH PARTNERS LLC 0.79% of their portfolio | 161.8k $5.4m | Unchanged |
| LPL Financial LLC 0.00% of their portfolio | 159.8k $5.4m | Added +59.7k |
| ROYCE & ASSOCIATES LP 0.05% of their portfolio | 157.6k $5.3m | Reduced -100.6k |
| Retirement Systems of Alabama 0.02% of their portfolio | 157.4k $5.3m | Added +93 |
| Bridge City Capital, LLC 1.40% of their portfolio | 155.8k $5.2m | Added +38.5k |
| MetLife Investment Management, LLC 0.02% of their portfolio | 143.5k $4.8m | Reduced -3.9k |
| DARK FOREST CAPITAL MANAGEMENT LP 0.18% of their portfolio | 143.2k $4.8m | Reduced -8.7k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 139.4k $4.7m | Reduced -3.3k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 138.2k $4.7m | Added +73.5k |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 136.9k $4.6m | Added +111.4k |
| CITIGROUP INC 0.00% of their portfolio | 134.6k $4.5m | Reduced -1.9k |
| Squarepoint Ops LLC 0.01% of their portfolio | 131.0k $4.4m | Added +32.7k |
| Verition Fund Management LLC 0.02% of their portfolio | 125.4k $4.2m | Added +117.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 121.3k $4.1m | Added +5.1k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 120.9k $4.1m | Added +83.9k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 113.1k $3.8m | Added +6 |
| CWM, LLC 0.01% of their portfolio | 110.1k $3.7m | Reduced -26.3k |
| Watchman Group, Inc. 0.87% of their portfolio | 107.2k $3.6m | New |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 106.2k $3.6m | Added +11.8k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 105.1k $3.5m | Unchanged |
| Rafferty Asset Management, LLC 0.01% of their portfolio | 103.0k $3.5m | Added +22.7k |
| AWM CAPITAL, LLC 0.30% of their portfolio | 97.1k $3.3m | Added +3 |
| TUDOR INVESTMENT CORP ET AL 0.02% of their portfolio | 89.9k $3.0m | New |
| Schonfeld Strategic Advisors LLC 0.02% of their portfolio | 84.6k $2.8m | Added +40.5k |
| SEI INVESTMENTS CO 0.00% of their portfolio | 84.0k $2.8m | Added +7.2k |
| Creative Planning 0.00% of their portfolio | 83.7k $2.8m | Added +130 |
| ROYAL LONDON ASSET MANAGEMENT LTD 0.01% of their portfolio | 82.8k $2.8m | Unchanged |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 79.8k $2.7m | Unchanged |
| Smart Money Group LLC 0.79% of their portfolio | 79.8k $2.7m | Added +113 |
| Strategic Financial Concepts, LLC 0.38% of their portfolio | 77.8k $2.6m | Added +4 |
| Rosenthal | Henry Capital Advisors, Inc. 2.43% of their portfolio | 75.1k $2.5m | Reduced -247 |
| Prime Capital Investment Advisors, LLC 0.03% of their portfolio | 74.8k $2.5m | Reduced -8 |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 72.8k $2.4m | Unchanged |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 72.4k $2.4m | Added +2.9k |
| Holocene Advisors, LP 0.01% of their portfolio | 71.6k $2.4m | Added +925 |
| DOLIVER ADVISORS, LP 0.57% of their portfolio | 65.8k $2.2m | Unchanged |
| BRIDGES INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 65.3k $2.2m | Added +3.5k |
| Jain Global LLC 0.03% of their portfolio | 65.0k $2.2m | New |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 62.5k $2.1m | Reduced -11.2k |
| State of New Jersey Common Pension Fund D 0.01% of their portfolio | 59.5k $2.0m | Added +4.2k |
| Cullen/Frost Bankers, Inc. 0.02% of their portfolio | 58.8k $2.0m | Unchanged |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 57.9k $1.9m | Reduced -57.1k |
| Balyasny Asset Management L.P. 0.00% of their portfolio | 57.9k $1.9m | Added +23.5k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 57.6k $1.9m | Reduced -155.8k |
| AMALGAMATED BANK 0.01% of their portfolio | 57.4k $1.9m | Added +769 |
| ProShare Advisors LLC 0.00% of their portfolio | 57.1k $1.9m | Added +23.8k |
| HOURGLASS CAPITAL, LLC 0.43% of their portfolio | 57.0k $1.9m | New |
| INTECH INVESTMENT MANAGEMENT LLC 0.02% of their portfolio | 56.2k $1.9m | Reduced -11.1k |
| Warwick Investment Management, Inc. 0.33% of their portfolio | 56.2k $1.9m | Added +85 |
| Numerai GP LLC 0.27% of their portfolio | 56.1k $1.9m | Added +39.5k |