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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
-14.94%
1 Year Est. Return
+11.03%
3 Year Est. Return
+68.14%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$356M
AUM Growth
+$111M
(+46%)
Cap. Flow
+$154M
Cap. Flow
% of AUM
43.39%
Top 10 Holdings %
Top 10 Hldgs %
64.61%
Holding
45
New
11
Increased
17
Reduced
6
Closed
11
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Q2 Holdings
QTWO
|
+$28.9M |
| 2 |
SNV
Synovus
SNV
|
+$25.9M |
| 3 |
FRC
First Republic Bank
FRC
|
+$20.6M |
| 4 |
CMA
Comerica
CMA
|
+$19.5M |
| 5 |
SouthState Bank Corp
SSB
|
+$17.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Global Payments
GPN
|
+$22M |
| 2 |
Hancock Whitney
HWC
|
+$14.1M |
| 3 |
Eagle Bancorp
EGBN
|
+$12.9M |
| 4 |
SCHW
Charles Schwab
SCHW
|
+$9.27M |
| 5 |
Cullen/Frost Bankers
CFR
|
+$5.72M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 74.07% |
| 2 | Industrials | 10.54% |
| 3 | Technology | 6.43% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
PFHD
26
DELISTED
Professional Holding Corp. Class A Common stock
PFHD
| $3.45M | 0.97% |
+172,097
| New | +$3.78M |
|
27
PNC Financial Services
PNC
$101B
| $2.62M | 0.74% |
16,600
-10,400
| -39% | -$1.74M |
|
|
HTB
28
HomeTrust Bancshares
HTB
$852M
| $1.76M | 0.49% |
+70,274
| New | +$1.9M |
|
29
Victory Capital Holdings
VCTR
$6.68B
| $1.68M | 0.47% |
69,492
+19,492
| +39% | +$524K |
|
30
Hilltop Holdings
HTH
$2.24B
| $1.6M | 0.45% |
+60,000
| New | +$1.71M |
|
31
First Western Financial
MYFW
$309M
| $1.3M | 0.36% |
+47,714
| New | +$1.49M |
|
|
32
Cullen/Frost Bankers
CFR
$10.2B
| $1.19M | 0.33% |
10,200
-44,800
| -81% | -$5.72M |
|
33
Banc of California
BANC
$2.98B
| $1.19M | 0.33% |
67,382
-37,618
| -36% | -$686K |
|
|
IBTX
34
DELISTED
Independent Bank Group, Inc.
IBTX
| $1.02M | 0.29% |
15,000
-70,000
| -82% | -$4.89M |
|
35
ACI Worldwide
ACIW
$5.4B
| – | – |
-10,000
| Closed | -$315K |
|
36
Atlantic Union Bankshares
AUB
$5.96B
| – | – |
-15,761
| Closed | -$578K |
|
|
AVDX
37
DELISTED
AvidXchange
AVDX
| – | – |
-683,256
| Closed | -$5.5M |
|
|
38
Eagle Bancorp
EGBN
$845M
| – | – |
-225,560
| Closed | -$12.9M |
|
|
39
Hancock Whitney
HWC
$6.25B
| – | – |
-270,000
| Closed | -$14.1M |
|
|
JHG
40
DELISTED
Janus Henderson
JHG
| – | – |
-65,000
| Closed | -$2.28M |
|
41
M&T Bank
MTB
$36.3B
| – | – |
-15,000
| Closed | -$2.54M |
|
42
Raymond James Financial
RJF
$34.2B
| – | – |
-30,000
| Closed | -$3.3M |
|
|
SCHW
43
Charles Schwab
SCHW
$186B
| – | – |
-110,000
| Closed | -$9.27M |
|
44
United Bankshares
UBSI
$6.64B
| – | – |
-20,000
| Closed | -$698K |
|
|
FFNW
45
DELISTED
First Financial Northwest, Inc
FFNW
| – | – |
-13,066
| Closed | -$224K |
|
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North Reef Capital Management's Q2 2022 Portfolio in Review
As of Q2 2022, North Reef Capital Management held 45 positions worth $356M, up 46% from $245M the previous quarter. Its ten largest holdings account for 65% of the portfolio.
North Reef Capital Management deployed $154M of net new capital in Q2 2022, opening 11 new positions and adding to 17 existing holdings. Its largest new stake was Q2 Holdings: 593,398 shares worth $22.9M.
By sector, the portfolio is most concentrated in Financials at 74% of assets, down from 75% a quarter earlier, followed by Industrials and Technology.
On the sell side, the largest reduction was Global Payments, an estimated $22M trimmed.
- North Reef Capital Management's largest Q2 2022 buy was Q2 Holdings: 593,398 shares worth $22.9M.
- North Reef Capital Management added most to Synovus in Q2 2022, an estimated $25.9M increase.
- North Reef Capital Management's biggest Q2 2022 reduction was Global Payments, cutting an estimated $22M.
- North Reef Capital Management fully exited Hancock Whitney in Q2 2022, selling an estimated $14.1M.
- North Reef Capital Management's ten largest holdings make up 65% of its $356M portfolio in Q2 2022.
- North Reef Capital Management opened 11 new positions and closed 11 in Q2 2022.
- North Reef Capital Management's portfolio value rose 46% quarter-over-quarter to $356M.
Based on North Reef Capital Management's 13F filing for Q2 2022, filed 12 Aug 2022.