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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
+0.52%
1 Year Est. Return
+11.03%
3 Year Est. Return
+68.14%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.58B
AUM Growth
+$283M
Cap. Flow
+$303M
Cap. Flow %
19.12%
Top 10 Hldgs %
56.28%
Holding
50
New
14
Increased
21
Reduced
9
Closed
6

Top Buys

Rank Stock Value
1
TFC icon
Truist Financial
TFC
+$71.8M
2
FHN icon
First Horizon
FHN
+$63.9M
3
SNV
Synovus
SNV
+$48.4M
4
TCBI icon
Texas Capital Bancshares
TCBI
+$43.7M
5
CMA
Comerica
CMA
+$41.1M

Top Sells

Rank Stock Value
1
CBOE icon
Cboe Global Markets
CBOE
+$60.7M
2
BNY
Bank of New York Mellon
BNY
+$28.2M
3
PNC icon
PNC Financial Services
PNC
+$22.3M
4
GPN icon
Global Payments
GPN
+$20.7M
5
ABCB icon
Ameris Bancorp
ABCB
+$19.1M

Sector Composition

Rank Sector Weight
1 Financials 87.95%
2 Technology 12.05%
3 Industrials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FIS icon
26
Fidelity National Information Services
FIS
$22.1B
$13.5M 0.85%
245,000
+29,750
+14% +$1.71M
BNY
27
Bank of New York Mellon
BNY
$107B
$13.4M 0.85%
315,000
-633,130
-67% -$28.2M
PGC icon
28
Peapack-Gladstone Financial
PGC
$812M
$12.8M 0.81%
500,000
+217,646
+77% +$6.02M
BAC icon
29
Bank of America
BAC
$442B
$10.3M 0.65%
+375,000
New +$11.1M
SASR
30
DELISTED
Sandy Spring Bancorp Inc
SASR
$9.32M 0.59%
+434,880
New +$9.94M
BOH icon
31
Bank of Hawaii
BOH
$3.13B
$8.48M 0.54%
+170,637
New +$8.77M
MYFW icon
32
First Western Financial
MYFW
$306M
$8.43M 0.53%
464,305
+11,119
+2% +$220K
STT icon
33
State Street
STT
$50.7B
$4.69M 0.3%
+70,000
New +$4.94M
VCTR icon
34
Victory Capital Holdings
VCTR
$6.65B
$4.2M 0.27%
126,081
-24,715
-16% -$825K
GCMG icon
35
GCM Grosvenor
GCMG
$820M
$2.87M 0.18%
370,000
-70,732
-16% -$550K
AUB icon
36
Atlantic Union Bankshares
AUB
$5.97B
$2.38M 0.15%
+82,628
New +$2.46M
MQ icon
37
Marqeta
MQ
$1.66B
$2.09M 0.13%
+87,500
New +$1.98M
RPAY icon
38
Repay Holdings
RPAY
$327M
$1.54M 0.1%
202,662
+4,313
+2% +$36K
CCNE icon
39
CNB Financial Corp
CCNE
$1.03B
$1.47M 0.09%
81,244
+2,059
+3% +$38.2K
CSTR
40
DELISTED
CapStar Financial Holdings, Inc
CSTR
$1.35M 0.09%
+94,901
New +$1.3M
ICE icon
41
Intercontinental Exchange
ICE
$84.4B
$1.1M 0.07%
+10,000
New +$1.15M
BMRC icon
42
Bank of Marin Bancorp
BMRC
$459M
$1.01M 0.06%
+55,000
New +$1.06M
MKTX icon
43
MarketAxess Holdings
MKTX
$5.72B
$855K 0.05%
+4,000
New +$969K
CPF icon
44
Central Pacific Financial
CPF
$1B
$465K 0.03%
+27,884
New +$476K
COLB icon
45
Columbia Banking Systems
COLB
$8.84B
– –
-307,500
Closed -$6.24M
CVBF icon
46
CVB Financial
CVBF
$3.99B
– –
-711,433
Closed -$9.45M
GPN icon
47
Global Payments
GPN
$22.8B
– –
-210,130
Closed -$20.7M
KEY icon
48
KeyCorp
KEY
$24.4B
– –
-1,435,000
Closed -$13.3M
VYX icon
49
NCR Voyix
VYX
$1.14B
– –
-65,200
Closed -$1.01M
AMNB
50
DELISTED
American National Bankshares Inc
AMNB
– –
-310,304
Closed -$8.99M
1
2

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North Reef Capital Management's Q3 2023 Portfolio in Review

As of Q3 2023, North Reef Capital Management held 50 positions worth $1.58B, up 22% from $1.3B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

North Reef Capital Management deployed $303M of net new capital in Q3 2023, opening 14 new positions and adding to 21 existing holdings. Its largest new stake was Truist Financial: 2,335,000 shares worth $66.8M.

By sector, the portfolio is most concentrated in Financials at 88% of assets, up from 87% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was Cboe Global Markets, an estimated $60.7M trimmed.

  • North Reef Capital Management's largest Q3 2023 buy was Truist Financial: 2,335,000 shares worth $66.8M.
  • North Reef Capital Management added most to First Horizon in Q3 2023, an estimated $63.9M increase.
  • North Reef Capital Management's biggest Q3 2023 reduction was Cboe Global Markets, cutting an estimated $60.7M.
  • North Reef Capital Management fully exited Global Payments in Q3 2023, selling an estimated $20.7M.
  • North Reef Capital Management's ten largest holdings make up 56% of its $1.58B portfolio in Q3 2023.
  • North Reef Capital Management opened 14 new positions and closed 6 in Q3 2023.
  • North Reef Capital Management's portfolio value rose 22% quarter-over-quarter to $1.58B.

Based on North Reef Capital Management's 13F filing for Q3 2023, filed 13 Nov 2023.