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NRCM

North Reef Capital Management Portfolio holdings

AUM $2.91B
1-Year Est. Return 11.03%
This Fund
S&P 500
This Quarter Est. Return
-3.33%
1 Year Est. Return
+11.03%
3 Year Est. Return
+68.14%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$245M
AUM Growth
+$27.6M
Cap. Flow
+$37.1M
Cap. Flow %
15.15%
Top 10 Hldgs %
67.89%
Holding
46
New
13
Increased
14
Reduced
7
Closed
12

Top Buys

Rank Stock Value
1
GPN icon
Global Payments
GPN
+$28.1M
2
PNFP icon
Pinnacle Financial Partners Inc
PNFP
+$22.2M
3
CBOE icon
Cboe Global Markets
CBOE
+$17M
4
SSB icon
SouthState Bank Corp
SSB
+$11.9M
5
FRC
First Republic Bank
FRC
+$8.41M

Top Sells

Rank Stock Value
1
IBOC icon
International Bancshares
IBOC
+$19.2M
2
CADE
Cadence Bank
CADE
+$13.9M
3
SBCF icon
Seacoast Banking Corp of Florida
SBCF
+$13.1M
4
BKU icon
Bankunited
BKU
+$10.2M
5
AUB icon
Atlantic Union Bankshares
AUB
+$8.67M

Sector Composition

Rank Sector Weight
1 Financials 75.08%
2 Industrials 19.35%
3 Technology 2.38%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BANC icon
26
Banc of California
BANC
$2.97B
$2.03M 0.83%
+105,000
New +$2.09M
AMNB
27
DELISTED
American National Bankshares Inc
AMNB
$2M 0.82%
52,973
+6,944
+15% +$265K
VCTR icon
28
Victory Capital Holdings
VCTR
$6.65B
$1.44M 0.59%
50,000
-29,421
-37% -$961K
AAMI
29
Acadian Asset Management
AAMI
$3.19B
$970K 0.4%
40,000
-60,000
-60% -$1.43M
FBMS
30
DELISTED
The First Bancshares, Inc.
FBMS
$842K 0.34%
+25,000
New +$907K
UBSI icon
31
United Bankshares
UBSI
$6.62B
$698K 0.29%
+20,000
New +$727K
AUB icon
32
Atlantic Union Bankshares
AUB
$5.97B
$578K 0.24%
15,761
-217,074
-93% -$8.67M
ACIW icon
33
ACI Worldwide
ACIW
$5.42B
$315K 0.13%
+10,000
New +$334K
FFNW
34
DELISTED
First Financial Northwest, Inc
FFNW
$224K 0.09%
+13,066
New +$220K
AXP icon
35
American Express
AXP
$230B
– –
-26,000
Closed -$4.25M
BKU icon
36
Bankunited
BKU
$3.36B
– –
-240,229
Closed -$10.2M
CADE
37
DELISTED
Cadence Bank
CADE
– –
-467,469
Closed -$13.9M
CME icon
38
CME Group
CME
$94.8B
– –
-23,500
Closed -$5.37M
FCNCA icon
39
First Citizens BancShares
FCNCA
$25.3B
– –
-500
Closed -$415K
FHN icon
40
First Horizon
FHN
$12.1B
– –
-173,520
Closed -$2.83M
IBOC icon
41
International Bancshares
IBOC
$4.57B
– –
-453,690
Closed -$19.2M
NTRS icon
42
Northern Trust
NTRS
$33.9B
– –
-69,704
Closed -$8.34M
RF icon
43
Regions Financial
RF
$26.8B
– –
-104,115
Closed -$2.27M
USB icon
44
US Bancorp
USB
$99.6B
– –
-45,780
Closed -$2.57M
WTFC icon
45
Wintrust Financial
WTFC
$10.7B
– –
-81,555
Closed -$7.41M
SI
46
DELISTED
Silvergate Capital Corporation
SI
– –
-16,250
Closed -$2.41M
1
2

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North Reef Capital Management's Q1 2022 Portfolio in Review

As of Q1 2022, North Reef Capital Management held 46 positions worth $245M, up 13% from $217M the previous quarter. Its ten largest holdings account for 68% of the portfolio.

North Reef Capital Management deployed $37.1M of net new capital in Q1 2022, opening 13 new positions and adding to 14 existing holdings. Its largest new stake was Pinnacle Financial Partners Inc: 225,000 shares worth $20.7M.

By sector, the portfolio is most concentrated in Financials at 75% of assets, down from 93% a quarter earlier, followed by Industrials and Technology.

On the sell side, the largest reduction was Seacoast Banking Corp of Florida, an estimated $13.1M trimmed.

  • North Reef Capital Management's largest Q1 2022 buy was Pinnacle Financial Partners Inc: 225,000 shares worth $20.7M.
  • North Reef Capital Management added most to Global Payments in Q1 2022, an estimated $28.1M increase.
  • North Reef Capital Management's biggest Q1 2022 reduction was Seacoast Banking Corp of Florida, cutting an estimated $13.1M.
  • North Reef Capital Management fully exited International Bancshares in Q1 2022, selling an estimated $19.2M.
  • North Reef Capital Management's ten largest holdings make up 68% of its $245M portfolio in Q1 2022.
  • North Reef Capital Management opened 13 new positions and closed 12 in Q1 2022.
  • North Reef Capital Management's portfolio value rose 13% quarter-over-quarter to $245M.

Based on North Reef Capital Management's 13F filing for Q1 2022, filed 13 May 2022.