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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
+0.67%
1 Year Est. Return
+11.03%
3 Year Est. Return
+68.14%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$401M
AUM Growth
+$44.9M
(+13%)
Cap. Flow
+$52.4M
Cap. Flow
% of AUM
13.08%
Top 10 Holdings %
Top 10 Hldgs %
58.12%
Holding
45
New
11
Increased
14
Reduced
12
Closed
8
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Seacoast Banking Corp of Florida
SBCF
|
+$15.6M |
| 2 |
International Bancshares
IBOC
|
+$15M |
| 3 |
Bank of America
BAC
|
+$12.9M |
| 4 |
ACI Worldwide
ACIW
|
+$12.3M |
| 5 |
FirstCash
FCFS
|
+$11.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CMA
Comerica
CMA
|
+$24.5M |
| 2 |
EVOP
EVO Payments, Inc. Class A Common Stock
EVOP
|
+$16.5M |
| 3 |
Cboe Global Markets
CBOE
|
+$10.6M |
| 4 |
SNV
Synovus
SNV
|
+$6.76M |
| 5 |
FRC
First Republic Bank
FRC
|
+$5.35M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 78.31% |
| 2 | Technology | 11.87% |
| 3 | Industrials | 3.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
PACW
26
DELISTED
PacWest Bancorp
PACW
| $4.29M | 1.07% |
190,000
-3,400
| -2% | -$91.5K |
|
|
MCHB
27
Mechanics Bancorp
MCHB
$3.68B
| $4.24M | 1.06% |
+147,239
| New | +$5.18M |
|
28
Banc of California
BANC
$2.97B
| $3.97M | 0.99% |
248,675
+181,293
| +269% | +$3.16M |
|
|
SF
29
Stifel
SF
$12.6B
| $3.46M | 0.86% |
+99,851
| New | +$3.93M |
|
30
Peapack-Gladstone Financial
PGC
$812M
| $3.35M | 0.84% |
99,541
-46,196
| -32% | -$1.52M |
|
|
AMNB
31
DELISTED
American National Bankshares Inc
AMNB
| $2.8M | 0.7% |
87,711
-63,796
| -42% | -$2.18M |
|
|
IBTX
32
DELISTED
Independent Bank Group, Inc.
IBTX
| $2.76M | 0.69% |
45,000
+30,000
| +200% | +$2.07M |
|
33
M&T Bank
MTB
$36.2B
| $2.53M | 0.63% |
+14,372
| New | +$2.54M |
|
34
Victory Capital Holdings
VCTR
$6.65B
| $1.61M | 0.4% |
69,124
-368
| -0.5% | -$9.77K |
|
35
JPMorgan Chase
JPM
$950B
| $1.57M | 0.39% |
+15,000
| New | +$1.72M |
|
36
Alkami Technology
ALKT
$2.11B
| $903K | 0.23% |
+60,023
| New | +$874K |
|
37
CNB Financial Corp
CCNE
$1.03B
| $664K | 0.17% |
+28,191
| New | +$722K |
|
38
Bankunited
BKU
$3.36B
| – | – |
-125,000
| Closed | -$4.45M |
|
39
BOK Financial
BOKF
$8.74B
| – | – |
-45,851
| Closed | -$3.46M |
|
40
Global Payments
GPN
$22.8B
| – | – |
-44,974
| Closed | -$4.98M |
|
41
Hilltop Holdings
HTH
$2.24B
| – | – |
-60,000
| Closed | -$1.6M |
|
42
PNC Financial Services
PNC
$101B
| – | – |
-16,600
| Closed | -$2.62M |
|
|
HTB
43
HomeTrust Bancshares
HTB
$848M
| – | – |
-70,274
| Closed | -$1.76M |
|
|
EVOP
44
DELISTED
EVO Payments, Inc. Class A Common Stock
EVOP
| – | – |
-700,858
| Closed | -$16.5M |
|
|
PFHD
45
DELISTED
Professional Holding Corp. Class A Common stock
PFHD
| – | – |
-172,097
| Closed | -$3.45M |
|
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North Reef Capital Management's Q3 2022 Portfolio in Review
As of Q3 2022, North Reef Capital Management held 45 positions worth $401M, up 13% from $356M the previous quarter. Its ten largest holdings account for 58% of the portfolio.
North Reef Capital Management deployed $52.4M of net new capital in Q3 2022, opening 11 new positions and adding to 14 existing holdings. Its largest new stake was International Bancshares: 351,859 shares worth $15M.
By sector, the portfolio is most concentrated in Financials at 78% of assets, up from 74% a quarter earlier, followed by Technology and Industrials.
On the sell side, the largest reduction was Comerica, an estimated $24.5M trimmed.
- North Reef Capital Management's largest Q3 2022 buy was International Bancshares: 351,859 shares worth $15M.
- North Reef Capital Management added most to Seacoast Banking Corp of Florida in Q3 2022, an estimated $15.6M increase.
- North Reef Capital Management's biggest Q3 2022 reduction was Comerica, cutting an estimated $24.5M.
- North Reef Capital Management fully exited EVO Payments, Inc. Class A Common Stock in Q3 2022, selling an estimated $16.5M.
- North Reef Capital Management's ten largest holdings make up 58% of its $401M portfolio in Q3 2022.
- North Reef Capital Management opened 11 new positions and closed 8 in Q3 2022.
- North Reef Capital Management's portfolio value rose 13% quarter-over-quarter to $401M.
Based on North Reef Capital Management's 13F filing for Q3 2022, filed 10 Nov 2022.