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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
-0.46%
1 Year Est. Return
+11.03%
3 Year Est. Return
+68.14%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$2.16B
AUM Growth
+$241M
(+13%)
Cap. Flow
+$239M
Cap. Flow
% of AUM
11.07%
Top 10 Holdings %
Top 10 Hldgs %
60.39%
Holding
57
New
13
Increased
18
Reduced
15
Closed
11
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CADE
Cadence Bank
CADE
|
+$41.1M |
| 2 |
SNV
Synovus
SNV
|
+$39.8M |
| 3 |
Global Payments
GPN
|
+$34.7M |
| 4 |
Cboe Global Markets
CBOE
|
+$27.5M |
| 5 |
MarketAxess Holdings
MKTX
|
+$26.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
International Bancshares
IBOC
|
+$27.5M |
| 2 |
Fidelity National Information Services
FIS
|
+$24.4M |
| 3 |
Peapack-Gladstone Financial
PGC
|
+$9.7M |
| 4 |
Pinnacle Financial Partners Inc
PNFP
|
+$9.28M |
| 5 |
Q2 Holdings
QTWO
|
+$8.57M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 84.25% |
| 2 | Technology | 14.34% |
| 3 | Industrials | 1.41% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Bank of America
BAC
$441B
| $20.9M | 0.97% |
+525,000
| New | +$20.1M |
|
27
Commerce Bancshares
CBSH
$8.51B
| $18.7M | 0.87% |
369,490
-17,655
| -5% | -$873K |
|
|
SF
28
Stifel
SF
$12.7B
| $18.5M | 0.86% |
330,018
-77,079
| -19% | -$4.08M |
|
29
Marqeta
MQ
$1.67B
| $16.6M | 0.77% |
756,250
+256,250
| +51% | +$5.64M |
|
30
BILL Holdings
BILL
$4.77B
| $16M | 0.74% |
+305,000
| New | +$17.3M |
|
|
SCHW
31
Charles Schwab
SCHW
$187B
| $14.4M | 0.67% |
195,000
+145,000
| +290% | +$10.7M |
|
|
CFB
32
DELISTED
CrossFirst Bankshares, Inc. Common Stock
CFB
| $11.9M | 0.55% |
+849,760
| New | +$11M |
|
33
Live Oak Bancshares
LOB
$1.97B
| $10.5M | 0.49% |
+300,012
| New | +$10.6M |
|
|
MRX
34
Marex Group Limited Ordinary Shares
MRX
$4.41B
| $8.5M | 0.39% |
+425,000
| New | +$8.35M |
|
35
Repay Holdings
RPAY
$326M
| $7.39M | 0.34% |
+700,000
| New | +$7.16M |
|
|
BNY
36
Bank of New York Mellon
BNY
$107B
| $6.59M | 0.31% |
110,000
-65,000
| -37% | -$3.76M |
|
37
First Western Financial
MYFW
$310M
| $5.08M | 0.24% |
298,530
-103,302
| -26% | -$1.69M |
|
38
FirstCash
FCFS
$8.84B
| $4.2M | 0.19% |
+40,000
| New | +$4.73M |
|
39
Five Star Bancorp
FSBC
$1.12B
| $3.05M | 0.14% |
129,060
-25,393
| -16% | -$569K |
|
40
Towne Bank
TOWN
$3.43B
| $3M | 0.14% |
+110,007
| New | +$2.96M |
|
41
Bank of Marin Bancorp
BMRC
$461M
| $2.43M | 0.11% |
150,148
-347
| -0.2% | -$5.34K |
|
42
Alkami Technology
ALKT
$2.09B
| $2.32M | 0.11% |
+81,606
| New | +$2.11M |
|
43
GCM Grosvenor
GCMG
$824M
| $1.56M | 0.07% |
159,461
-539
| -0.3% | -$5.2K |
|
44
Amerant Bancorp
AMTB
$1.14B
| $1.49M | 0.07% |
65,541
+27,569
| +73% | +$608K |
|
45
i3 Verticals
IIIV
$342M
| $1.1M | 0.05% |
+50,000
| New | +$1.05M |
|
46
German American Bancorp
GABC
$1.9B
| $707K | 0.03% |
+19,998
| New | +$652K |
|
47
Cullen/Frost Bankers
CFR
$10.2B
| – | – |
-10,000
| Closed | -$1.13M |
|
48
Columbia Banking Systems
COLB
$8.83B
| – | – |
-430,000
| Closed | -$8.32M |
|
49
Central Pacific Financial
CPF
$1.01B
| – | – |
-30,000
| Closed | -$593K |
|
|
FFIC
50
DELISTED
Flushing Financial
FFIC
| – | – |
-59,427
| Closed | -$749K |
|
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North Reef Capital Management's Q2 2024 Portfolio in Review
As of Q2 2024, North Reef Capital Management held 57 positions worth $2.16B, up 13% from $1.92B the previous quarter. Its ten largest holdings account for 60% of the portfolio.
North Reef Capital Management deployed $239M of net new capital in Q2 2024, opening 13 new positions and adding to 18 existing holdings. Its largest new stake was Cadence Bank: 1,460,000 shares worth $41.3M.
By sector, the portfolio is most concentrated in Financials at 84% of assets, down from 84% a quarter earlier, followed by Technology and Industrials.
On the sell side, the largest reduction was International Bancshares, an estimated $27.5M trimmed.
- North Reef Capital Management's largest Q2 2024 buy was Cadence Bank: 1,460,000 shares worth $41.3M.
- North Reef Capital Management added most to Synovus in Q2 2024, an estimated $39.8M increase.
- North Reef Capital Management's biggest Q2 2024 reduction was International Bancshares, cutting an estimated $27.5M.
- North Reef Capital Management fully exited Peapack-Gladstone Financial in Q2 2024, selling an estimated $9.7M.
- North Reef Capital Management's ten largest holdings make up 60% of its $2.16B portfolio in Q2 2024.
- North Reef Capital Management opened 13 new positions and closed 11 in Q2 2024.
- North Reef Capital Management's portfolio value rose 13% quarter-over-quarter to $2.16B.
Based on North Reef Capital Management's 13F filing for Q2 2024, filed 14 Aug 2024.