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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
+12.44%
1 Year Est. Return
+11.03%
3 Year Est. Return
+68.14%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$2.14B
AUM Growth
-$15.9M
Cap. Flow
-$240M
Cap. Flow %
-11.21%
Top 10 Hldgs %
63.59%
Holding
56
New
10
Increased
13
Reduced
25
Closed
8

Top Buys

Rank Stock Value
1
CMA
Comerica
CMA
+$81.3M
2
GPN icon
Global Payments
GPN
+$55M
3
CME icon
CME Group
CME
+$46.6M
4
SNV
Synovus
SNV
+$27M
5
SCHW
Charles Schwab
SCHW
+$26.6M

Top Sells

Rank Stock Value
1
CBOE icon
Cboe Global Markets
CBOE
+$118M
2
TFC icon
Truist Financial
TFC
+$89.4M
3
WFC icon
Wells Fargo
WFC
+$75.2M
4
FBMS
The First Bancshares, Inc.
FBMS
+$35.3M
5
CADE
Cadence Bank
CADE
+$32.8M

Sector Composition

Rank Sector Weight
1 Financials 79.89%
2 Technology 15.66%
3 Industrials 4.04%
4 Consumer Discretionary 0.41%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CBSH icon
26
Commerce Bancshares
CBSH
$8.5B
$19.9M 0.93%
369,482
-8
-0% -$444
MQ icon
27
Marqeta
MQ
$1.66B
$19.2M 0.9%
975,000
+218,750
+29% +$4.58M
HTH icon
28
Hilltop Holdings
HTH
$2.24B
$17M 0.8%
530,000
-632,883
-54% -$20.3M
BILL icon
29
BILL Holdings
BILL
$4.78B
$15.3M 0.71%
290,000
-15,000
-5% -$772K
CADE
30
DELISTED
Cadence Bank
CADE
$12.7M 0.59%
400,000
-1,060,000
-73% -$32.8M
VBTX
31
DELISTED
Veritex Holdings
VBTX
$11M 0.51%
416,470
-860,714
-67% -$20.4M
FFWM
32
DELISTED
First Foundation Inc
FFWM
$9.68M 0.45%
+1,551,861
New +$9.93M
CRMT icon
33
America's Car Mart
CRMT
$26.9M
$8.82M 0.41%
+210,407
New +$12.2M
MRX
34
Marex Group Limited Ordinary Shares
MRX
$4.37B
$7.28M 0.34%
308,045
-116,955
-28% -$2.61M
BMRC icon
35
Bank of Marin Bancorp
BMRC
$459M
$6.49M 0.3%
322,936
+172,788
+115% +$3.4M
ALKT icon
36
Alkami Technology
ALKT
$2.11B
$6.31M 0.29%
200,000
+118,394
+145% +$3.74M
EGBN icon
37
Eagle Bancorp
EGBN
$845M
$6.21M 0.29%
+275,000
New +$5.77M
MYFW icon
38
First Western Financial
MYFW
$306M
$6.07M 0.28%
303,421
+4,891
+2% +$89.1K
AMTB icon
39
Amerant Bancorp
AMTB
$1.13B
$4.81M 0.22%
225,000
+159,459
+243% +$3.5M
TOWN icon
40
Towne Bank
TOWN
$3.42B
$3.64M 0.17%
110,005
-2
-0% -$64
FSBC icon
41
Five Star Bancorp
FSBC
$1.13B
$3.31M 0.15%
111,320
-17,740
-14% -$496K
RPAY icon
42
Repay Holdings
RPAY
$327M
$3.26M 0.15%
399,985
-300,015
-43% -$2.65M
CPF icon
43
Central Pacific Financial
CPF
$1B
$1.53M 0.07%
+51,715
New +$1.33M
FCFS icon
44
FirstCash
FCFS
$8.78B
$1.15M 0.05%
9,996
-30,004
-75% -$3.4M
GCMG icon
45
GCM Grosvenor
GCMG
$820M
$1.13M 0.05%
100,000
-59,461
-37% -$639K
VYX icon
46
NCR Voyix
VYX
$1.14B
$1.05M 0.05%
+77,068
New +$1.03M
IIIV icon
47
i3 Verticals
IIIV
$342M
$1.03M 0.05%
48,363
-1,637
-3% -$36.7K
MOFG
48
DELISTED
MidWestOne Financial Group
MOFG
$706K 0.03%
+24,746
New +$671K
BAC icon
49
Bank of America
BAC
$442B
– –
-525,000
Closed -$20.9M
BNY
50
Bank of New York Mellon
BNY
$107B
– –
-110,000
Closed -$6.59M
1
2
3

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North Reef Capital Management's Q3 2024 Portfolio in Review

As of Q3 2024, North Reef Capital Management held 56 positions worth $2.14B, down 0.74% from $2.16B the previous quarter. Its ten largest holdings account for 64% of the portfolio.

North Reef Capital Management withdrew a net $240M in Q3 2024, closing 8 positions and reducing 25 holdings. Its most notable exit was Truist Financial, an estimated $89.4M position sold in full.

By sector, the portfolio is most concentrated in Financials at 80% of assets, down from 84% a quarter earlier, followed by Technology and Industrials.

Against the trend, North Reef Capital Management opened a new position in CME Group worth $49.6M.

  • North Reef Capital Management's largest Q3 2024 buy was CME Group: 225,000 shares worth $49.6M.
  • North Reef Capital Management added most to Comerica in Q3 2024, an estimated $81.3M increase.
  • North Reef Capital Management's biggest Q3 2024 reduction was Cboe Global Markets, cutting an estimated $118M.
  • North Reef Capital Management fully exited Truist Financial in Q3 2024, selling an estimated $89.4M.
  • North Reef Capital Management's ten largest holdings make up 64% of its $2.14B portfolio in Q3 2024.
  • North Reef Capital Management opened 10 new positions and closed 8 in Q3 2024.
  • North Reef Capital Management's portfolio value fell 0.74% quarter-over-quarter to $2.14B.

Based on North Reef Capital Management's 13F filing for Q3 2024, filed 14 Nov 2024.