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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
+2.7%
1 Year Est. Return
+11.03%
3 Year Est. Return
+68.14%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.92B
AUM Growth
+$201M
Cap. Flow
+$164M
Cap. Flow %
8.57%
Top 10 Hldgs %
65.16%
Holding
47
New
11
Increased
18
Reduced
14
Closed
3

Top Buys

Rank Stock Value
1
CBOE icon
Cboe Global Markets
CBOE
+$81.2M
2
WFC icon
Wells Fargo
WFC
+$51.3M
3
FIS icon
Fidelity National Information Services
FIS
+$31.5M
4
CMA
Comerica
CMA
+$25.5M
5
TCBI icon
Texas Capital Bancshares
TCBI
+$23.1M

Top Sells

Rank Stock Value
1
SNV
Synovus
SNV
+$26.7M
2
HTH icon
Hilltop Holdings
HTH
+$26.4M
3
C icon
Citigroup
C
+$24.2M
4
NTRS icon
Northern Trust
NTRS
+$18.3M
5
AAMI
Acadian Asset Management
AAMI
+$16.1M

Sector Composition

Rank Sector Weight
1 Financials 84.34%
2 Technology 15.22%
3 Industrials 0.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BNY
26
Bank of New York Mellon
BNY
$107B
$10.1M 0.53%
+175,000
New +$9.63M
PGC icon
27
Peapack-Gladstone Financial
PGC
$812M
$9.7M 0.51%
398,696
+16,782
+4% +$429K
NVEI
28
DELISTED
Nuvei Corporation Subordinate Voting Shares
NVEI
$8.38M 0.44%
+265,000
New +$6.7M
COLB icon
29
Columbia Banking Systems
COLB
$8.84B
$8.32M 0.43%
+430,000
New +$8.85M
NTRS icon
30
Northern Trust
NTRS
$33.9B
$6.67M 0.35%
75,000
-223,107
-75% -$18.3M
MYFW icon
31
First Western Financial
MYFW
$306M
$5.86M 0.31%
401,832
-41,659
-9% -$657K
VCTR icon
32
Victory Capital Holdings
VCTR
$6.65B
$5.61M 0.29%
132,308
+433
+0.3% +$16K
USB icon
33
US Bancorp
USB
$99.6B
$4.47M 0.23%
100,000
-249,995
-71% -$10.5M
VBTX
34
DELISTED
Veritex Holdings
VBTX
$4.1M 0.21%
+200,000
New +$4.14M
SCHW
35
Charles Schwab
SCHW
$187B
$3.62M 0.19%
+50,000
New +$3.29M
FSBC icon
36
Five Star Bancorp
FSBC
$1.13B
$3.48M 0.18%
+154,453
New +$3.7M
BMRC icon
37
Bank of Marin Bancorp
BMRC
$459M
$2.52M 0.13%
150,495
+32,354
+27% +$592K
FOUR icon
38
Shift4
FOUR
$3.26B
$1.65M 0.09%
25,000
-106,189
-81% -$7.99M
GCMG icon
39
GCM Grosvenor
GCMG
$820M
$1.55M 0.08%
160,000
-110,456
-41% -$961K
CFR icon
40
Cullen/Frost Bankers
CFR
$10.2B
$1.13M 0.06%
+10,000
New +$1.07M
MLNK
41
DELISTED
MeridianLink
MLNK
$1.03M 0.05%
+54,997
New +$1.12M
AMTB icon
42
Amerant Bancorp
AMTB
$1.13B
$884K 0.05%
+37,972
New +$857K
FFIC
43
DELISTED
Flushing Financial
FFIC
$749K 0.04%
+59,427
New +$837K
CPF icon
44
Central Pacific Financial
CPF
$1B
$593K 0.03%
30,000
-20,077
-40% -$384K
C icon
45
Citigroup
C
$226B
– –
-470,700
Closed -$24.2M
CCNE icon
46
CNB Financial Corp
CCNE
$1.03B
– –
-31,376
Closed -$709K
WTFC icon
47
Wintrust Financial
WTFC
$10.7B
– –
-70,000
Closed -$6.49M
1
2

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HCC
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CCPM
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SCM
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MYLI
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CCM
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PFM
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North Reef Capital Management's Q1 2024 Portfolio in Review

As of Q1 2024, North Reef Capital Management held 47 positions worth $1.92B, up 12% from $1.72B the previous quarter. Its ten largest holdings account for 65% of the portfolio.

North Reef Capital Management deployed $164M of net new capital in Q1 2024, opening 11 new positions and adding to 18 existing holdings. Its largest new stake was MarketAxess Holdings: 80,000 shares worth $17.5M.

By sector, the portfolio is most concentrated in Financials at 84% of assets, down from 87% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was Synovus, an estimated $26.7M trimmed.

  • North Reef Capital Management's largest Q1 2024 buy was MarketAxess Holdings: 80,000 shares worth $17.5M.
  • North Reef Capital Management added most to Cboe Global Markets in Q1 2024, an estimated $81.2M increase.
  • North Reef Capital Management's biggest Q1 2024 reduction was Synovus, cutting an estimated $26.7M.
  • North Reef Capital Management fully exited Citigroup in Q1 2024, selling an estimated $24.2M.
  • North Reef Capital Management's ten largest holdings make up 65% of its $1.92B portfolio in Q1 2024.
  • North Reef Capital Management opened 11 new positions and closed 3 in Q1 2024.
  • North Reef Capital Management's portfolio value rose 12% quarter-over-quarter to $1.92B.

Based on North Reef Capital Management's 13F filing for Q1 2024, filed 15 May 2024.