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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
+11.56%
1 Year Est. Return
+11.03%
3 Year Est. Return
+68.14%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$2.23B
AUM Growth
+$84.6M
Cap. Flow
-$119M
Cap. Flow %
-5.33%
Top 10 Hldgs %
69.59%
Holding
54
New
6
Increased
18
Reduced
16
Closed
13

Top Buys

Rank Stock Value
1
WFC icon
Wells Fargo
WFC
+$85.7M
2
AUB icon
Atlantic Union Bankshares
AUB
+$82.6M
3
PNFP icon
Pinnacle Financial Partners Inc
PNFP
+$79.5M
4
CMA
Comerica
CMA
+$35.8M
5
PB icon
Prosperity Bancshares
PB
+$29.9M

Top Sells

Rank Stock Value
1
SNV
Synovus
SNV
+$106M
2
CBOE icon
Cboe Global Markets
CBOE
+$96.3M
3
SASR
Sandy Spring Bancorp Inc
SASR
+$69.8M
4
TCBI icon
Texas Capital Bancshares
TCBI
+$60.5M
5
FIS icon
Fidelity National Information Services
FIS
+$32.2M

Sector Composition

Rank Sector Weight
1 Financials 78.74%
2 Technology 16.31%
3 Industrials 4.44%
4 Consumer Discretionary 0.52%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TOWN icon
51
Towne Bank
TOWN
$3.42B
– –
-110,005
Closed -$3.64M
VBTX
52
DELISTED
Veritex Holdings
VBTX
– –
-416,470
Closed -$11M
MRX
53
Marex Group Limited Ordinary Shares
MRX
$4.37B
– –
-308,045
Closed -$7.28M
SASR
54
DELISTED
Sandy Spring Bancorp Inc
SASR
– –
-2,225,000
Closed -$69.8M
1 2
3

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North Reef Capital Management's Q4 2024 Portfolio in Review

As of Q4 2024, North Reef Capital Management held 54 positions worth $2.23B, up 3.9% from $2.14B the previous quarter. Its ten largest holdings account for 70% of the portfolio.

North Reef Capital Management withdrew a net $119M in Q4 2024, closing 13 positions and reducing 16 holdings. Its most notable exit was Cboe Global Markets, an estimated $96.3M position sold in full.

By sector, the portfolio is most concentrated in Financials at 79% of assets, down from 80% a quarter earlier, followed by Technology and Industrials.

Against the trend, North Reef Capital Management opened a new position in Atlantic Union Bankshares worth $78.9M.

  • North Reef Capital Management's largest Q4 2024 buy was Atlantic Union Bankshares: 2,083,999 shares worth $78.9M.
  • North Reef Capital Management added most to Wells Fargo in Q4 2024, an estimated $85.7M increase.
  • North Reef Capital Management's biggest Q4 2024 reduction was Synovus, cutting an estimated $106M.
  • North Reef Capital Management fully exited Cboe Global Markets in Q4 2024, selling an estimated $96.3M.
  • North Reef Capital Management's ten largest holdings make up 70% of its $2.23B portfolio in Q4 2024.
  • North Reef Capital Management opened 6 new positions and closed 13 in Q4 2024.
  • North Reef Capital Management's portfolio value rose 3.9% quarter-over-quarter to $2.23B.

Based on North Reef Capital Management's 13F filing for Q4 2024, filed 14 Feb 2025.