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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
+0.67%
1 Year Est. Return
+11.03%
3 Year Est. Return
+68.14%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$401M
AUM Growth
+$44.9M
Cap. Flow
+$52.4M
Cap. Flow %
13.08%
Top 10 Hldgs %
58.12%
Holding
45
New
11
Increased
14
Reduced
12
Closed
8

Top Buys

Rank Stock Value
1
SBCF icon
Seacoast Banking Corp of Florida
SBCF
+$15.6M
2
IBOC icon
International Bancshares
IBOC
+$15M
3
BAC icon
Bank of America
BAC
+$12.9M
4
ACIW icon
ACI Worldwide
ACIW
+$12.3M
5
FCFS icon
FirstCash
FCFS
+$11.1M

Top Sells

Rank Stock Value
1
CMA
Comerica
CMA
+$24.5M
2
EVOP
EVO Payments, Inc. Class A Common Stock
EVOP
+$16.5M
3
CBOE icon
Cboe Global Markets
CBOE
+$10.6M
4
SNV
Synovus
SNV
+$6.76M
5
FRC
First Republic Bank
FRC
+$5.35M

Sector Composition

Rank Sector Weight
1 Financials 78.31%
2 Technology 11.87%
3 Industrials 3.84%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SBCF icon
1
Seacoast Banking Corp of Florida
SBCF
$3.35B
$28.3M 7.06%
935,091
+466,698
+100% +$15.6M
WFC icon
2
Wells Fargo
WFC
$263B
$27.8M 6.95%
692,015
+247,253
+56% +$10.6M
WTFC icon
3
Wintrust Financial
WTFC
$10.8B
$24.8M 6.18%
303,804
+115,104
+61% +$9.77M
TCBI icon
4
Texas Capital Bancshares
TCBI
$4.33B
$24.6M 6.14%
416,610
+55,098
+15% +$3.26M
SSB icon
5
SouthState Bank Corp
SSB
$10.5B
$24.2M 6.05%
306,260
-52,523
-15% -$4.23M
SNV
6
DELISTED
Synovus
SNV
$22.8M 5.68%
606,497
-170,517
-22% -$6.76M
QTWO icon
7
Q2 Holdings
QTWO
$3.94B
$22.4M 5.58%
694,565
+101,167
+17% +$4.12M
FRC
8
DELISTED
First Republic Bank
FRC
$19.6M 4.9%
150,491
-34,815
-19% -$5.35M
PNFP icon
9
Pinnacle Financial Partners Inc
PNFP
$16.1B
$19.6M 4.89%
241,521
-66,026
-21% -$5.28M
FCNCA icon
10
First Citizens BancShares
FCNCA
$25.3B
$18.8M 4.7%
23,617
+8,588
+57% +$6.71M
BAC icon
11
Bank of America
BAC
$441B
$16.3M 4.07%
540,515
+385,715
+249% +$12.9M
IBOC icon
12
International Bancshares
IBOC
$4.63B
$15M 3.73%
+351,859
New +$15M
FCFS icon
13
FirstCash
FCFS
$8.87B
$11M 2.74%
+149,418
New +$11.1M
ACIW icon
14
ACI Worldwide
ACIW
$5.41B
$10.3M 2.57%
+492,887
New +$12.3M
CBOE icon
15
Cboe Global Markets
CBOE
$30.2B
$9.13M 2.28%
77,818
-88,404
-53% -$10.6M
AVDX
16
DELISTED
AvidXchange
AVDX
$9M 2.25%
+1,068,842
New +$8.28M
PAYA
17
DELISTED
Paya Holdings Inc. Class A Common Stock
PAYA
$8.71M 2.18%
1,426,383
-25,274
-2% -$166K
GCMG icon
18
GCM Grosvenor
GCMG
$821M
$8.48M 2.12%
1,074,903
+231,778
+27% +$1.82M
AAMI
19
Acadian Asset Management
AAMI
$3.24B
$8.41M 2.1%
563,768
+114,816
+26% +$2.06M
CMA
20
DELISTED
Comerica
CMA
$7.51M 1.88%
105,666
-311,281
-75% -$24.5M
FBMS
21
DELISTED
The First Bancshares, Inc.
FBMS
$7.42M 1.85%
248,329
-9,871
-4% -$295K
MYFW icon
22
First Western Financial
MYFW
$309M
$7.08M 1.77%
287,296
+239,582
+502% +$6.54M
ENV
23
DELISTED
ENVESTNET, INC.
ENV
$6.66M 1.66%
149,940
+26,945
+22% +$1.44M
CFR icon
24
Cullen/Frost Bankers
CFR
$10.2B
$5.67M 1.42%
42,884
+32,684
+320% +$4.29M
EXFY icon
25
Expensify
EXFY
$265M
$5.01M 1.25%
+336,591
New +$6.28M
1
2

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North Reef Capital Management's Q3 2022 Portfolio in Review

As of Q3 2022, North Reef Capital Management held 45 positions worth $401M, up 13% from $356M the previous quarter. Its ten largest holdings account for 58% of the portfolio.

North Reef Capital Management deployed $52.4M of net new capital in Q3 2022, opening 11 new positions and adding to 14 existing holdings. Its largest new stake was International Bancshares: 351,859 shares worth $15M.

By sector, the portfolio is most concentrated in Financials at 78% of assets, up from 74% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was Comerica, an estimated $24.5M trimmed.

  • North Reef Capital Management's largest Q3 2022 buy was International Bancshares: 351,859 shares worth $15M.
  • North Reef Capital Management added most to Seacoast Banking Corp of Florida in Q3 2022, an estimated $15.6M increase.
  • North Reef Capital Management's biggest Q3 2022 reduction was Comerica, cutting an estimated $24.5M.
  • North Reef Capital Management fully exited EVO Payments, Inc. Class A Common Stock in Q3 2022, selling an estimated $16.5M.
  • North Reef Capital Management's ten largest holdings make up 58% of its $401M portfolio in Q3 2022.
  • North Reef Capital Management opened 11 new positions and closed 8 in Q3 2022.
  • North Reef Capital Management's portfolio value rose 13% quarter-over-quarter to $401M.

Based on North Reef Capital Management's 13F filing for Q3 2022, filed 10 Nov 2022.