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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
+5.3%
1 Year Est. Return
+11.03%
3 Year Est. Return
+68.14%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$912M
AUM Growth
+$512M
(+128%)
Cap. Flow
+$502M
Cap. Flow
% of AUM
55.06%
Top 10 Holdings %
Top 10 Hldgs %
59.14%
Holding
48
New
11
Increased
21
Reduced
5
Closed
11
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Ameris Bancorp
ABCB
|
+$55.5M |
| 2 |
FRC
First Republic Bank
FRC
|
+$47.6M |
| 3 |
BNY
Bank of New York Mellon
BNY
|
+$47.2M |
| 4 |
SNV
Synovus
SNV
|
+$40.1M |
| 5 |
Texas Capital Bancshares
TCBI
|
+$38.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SouthState Bank Corp
SSB
|
+$24.2M |
| 2 |
First Citizens BancShares
FCNCA
|
+$18.8M |
| 3 |
FirstCash
FCFS
|
+$11M |
| 4 |
CMA
Comerica
CMA
|
+$7.51M |
| 5 |
ENV
ENVESTNET, INC.
ENV
|
+$6.66M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 76.89% |
| 2 | Technology | 11.53% |
| 3 | Industrials | 4.06% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Peapack-Gladstone Financial
PGC
$812M
| $7.4M | 0.81% |
198,933
+99,392
| +100% | +$3.79M |
|
|
IBTX
27
DELISTED
Independent Bank Group, Inc.
IBTX
| $7.09M | 0.78% |
118,088
+73,088
| +162% | +$4.64M |
|
28
Hilltop Holdings
HTH
$2.24B
| $6.74M | 0.74% |
+224,606
| New | +$6.39M |
|
|
AMNB
29
DELISTED
American National Bankshares Inc
AMNB
| $5.61M | 0.61% |
151,892
+64,181
| +73% | +$2.34M |
|
30
PayPal
PYPL
$50.5B
| $5.23M | 0.57% |
+73,426
| New | +$5.88M |
|
31
GCM Grosvenor
GCMG
$820M
| $4.91M | 0.54% |
645,848
-429,055
| -40% | -$3.51M |
|
32
Citigroup
C
$226B
| $4.17M | 0.46% |
+92,242
| New | +$4.19M |
|
33
Banc of California
BANC
$2.97B
| $3.21M | 0.35% |
201,420
-47,255
| -19% | -$772K |
|
34
Victory Capital Holdings
VCTR
$6.65B
| $3.02M | 0.33% |
112,702
+43,578
| +63% | +$1.22M |
|
|
PACW
35
DELISTED
PacWest Bancorp
PACW
| $2.78M | 0.31% |
121,270
-68,730
| -36% | -$1.67M |
|
|
MCHB
36
Mechanics Bancorp
MCHB
$3.68B
| $1.72M | 0.19% |
62,344
-84,895
| -58% | -$2.32M |
|
37
CNB Financial Corp
CCNE
$1.03B
| $1.41M | 0.15% |
59,396
+31,205
| +111% | +$772K |
|
38
Alkami Technology
ALKT
$2.11B
| – | – |
-60,023
| Closed | -$903K |
|
39
Cullen/Frost Bankers
CFR
$10.2B
| – | – |
-42,884
| Closed | -$5.67M |
|
|
CMA
40
DELISTED
Comerica
CMA
| – | – |
-105,666
| Closed | -$7.51M |
|
41
Expensify
EXFY
$245M
| – | – |
-336,591
| Closed | -$5.01M |
|
|
42
FirstCash
FCFS
$8.78B
| – | – |
-149,418
| Closed | -$11M |
|
|
43
First Citizens BancShares
FCNCA
$25.3B
| – | – |
-23,617
| Closed | -$18.8M |
|
44
JPMorgan Chase
JPM
$950B
| – | – |
-15,000
| Closed | -$1.57M |
|
45
M&T Bank
MTB
$36.2B
| – | – |
-14,372
| Closed | -$2.53M |
|
|
SF
46
Stifel
SF
$12.6B
| – | – |
-99,851
| Closed | -$3.46M |
|
|
47
SouthState Bank Corp
SSB
$10.5B
| – | – |
-306,260
| Closed | -$24.2M |
|
|
ENV
48
DELISTED
ENVESTNET, INC.
ENV
| – | – |
-149,940
| Closed | -$6.66M |
|
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North Reef Capital Management's Q4 2022 Portfolio in Review
As of Q4 2022, North Reef Capital Management held 48 positions worth $912M, up 128% from $401M the previous quarter. Its ten largest holdings account for 59% of the portfolio.
North Reef Capital Management deployed $502M of net new capital in Q4 2022, opening 11 new positions and adding to 21 existing holdings. Its largest new stake was Ameris Bancorp: 1,108,516 shares worth $52.3M.
By sector, the portfolio is most concentrated in Financials at 77% of assets, down from 78% a quarter earlier, followed by Technology and Industrials.
On the sell side, the largest reduction was GCM Grosvenor, an estimated $3.51M trimmed.
- North Reef Capital Management's largest Q4 2022 buy was Ameris Bancorp: 1,108,516 shares worth $52.3M.
- North Reef Capital Management added most to First Republic Bank in Q4 2022, an estimated $47.6M increase.
- North Reef Capital Management's biggest Q4 2022 reduction was GCM Grosvenor, cutting an estimated $3.51M.
- North Reef Capital Management fully exited SouthState Bank Corp in Q4 2022, selling an estimated $24.2M.
- North Reef Capital Management's ten largest holdings make up 59% of its $912M portfolio in Q4 2022.
- North Reef Capital Management opened 11 new positions and closed 11 in Q4 2022.
- North Reef Capital Management's portfolio value rose 128% quarter-over-quarter to $912M.
Based on North Reef Capital Management's 13F filing for Q4 2022, filed 13 Feb 2023.