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NRCM
North Reef Capital Management Portfolio holdings
AUM
$2.61B
Turnover
39.06%
1-Year Est. Return
11.5%
This Fund
S&P 500
This Quarter
Est. Return
+0.67%
1 Year Est. Return
+11.5%
3 Year Est. Return
+81.85%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$401M
AUM Growth
+$44.9M
(+13%)
Cap. Flow
+$52.4M
Cap. Flow
% of AUM
13.08%
Top 10 Holdings %
Top 10 Hldgs %
58.12%
Holding
45
New
11
Increased
14
Reduced
12
Closed
8
Avg Time Held
0.4
years
Top 10 Avg Time Held
0.3
years
Top 20 Avg Time Held
0.4
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Seacoast Banking Corp of Florida
SBCF
|
+$15.6M |
| 2 |
International Bancshares
IBOC
|
+$15M |
| 3 |
Bank of America
BAC
|
+$12.9M |
| 4 |
ACI Worldwide
ACIW
|
+$12.3M |
| 5 |
FirstCash
FCFS
|
+$11.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Comerica
CMA
|
+$24.5M |
| 2 |
EVOP
EVO Payments, Inc. Class A Common Stock
EVOP
|
+$16.5M |
| 3 |
Cboe Global Markets
CBOE
|
+$10.6M |
| 4 |
Synovus
SNV
|
+$6.76M |
| 5 |
FRC
First Republic Bank
FRC
|
+$5.35M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 84.29% |
| 2 | Technology | 11.87% |
| 3 | Industrials | 3.84% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Seacoast Banking Corp of Florida
SBCF
$3.14B
| $28.3M | 7.06% |
935,091
+466,698
| +100% | +$15.6M |
2021 Q4
3 quarters
|
|
2
Wells Fargo
WFC
$251B
| $27.8M | 6.95% |
692,015
+247,253
| +56% | +$10.6M |
2021 Q4
3 quarters
|
|
3
Wintrust Financial
WTFC
$9.68B
| $24.8M | 6.18% |
303,804
+115,104
| +61% | +$9.77M |
2022 Q2
1 quarter
|
|
4
Texas Capital Bancshares
TCBI
$3.95B
| $24.6M | 6.14% |
416,610
+55,098
| +15% | +$3.26M |
2021 Q4
3 quarters
|
|
5
SouthState Bank Corp
SSB
$9.92B
| $24.2M | 6.05% |
306,260
-52,523
| -15% | -$4.23M |
2022 Q1
2 quarters
|
|
|
6
DELISTED
Synovus
SNV
| $22.8M | 5.68% |
606,497
-170,517
| -22% | -$6.76M |
2021 Q4
3 quarters
|
|
7
Q2 Holdings
QTWO
$3.89B
| $22.4M | 5.58% |
694,565
+101,167
| +17% | +$4.12M |
2022 Q2
1 quarter
|
|
|
FRC
8
DELISTED
First Republic Bank
FRC
| $19.6M | 4.9% |
150,491
-34,815
| -19% | -$5.35M |
2022 Q1
2 quarters
|
|
9
Pinnacle Financial Partners Inc
PNFP
$14.3B
| $19.6M | 4.89% |
241,521
-66,026
| -21% | -$5.28M |
2022 Q1
2 quarters
|
|
10
First Citizens BancShares
FCNCA
$23.9B
| $18.8M | 4.7% |
23,617
+8,588
| +57% | +$6.71M |
2022 Q2
1 quarter
|
|
|
11
Bank of America
BAC
$360B
| $16.3M | 4.07% |
540,515
+385,715
| +249% | +$12.9M |
2022 Q2
1 quarter
|
|
|
12
International Bancshares
IBOC
$4.21B
| $15M | 3.73% |
+351,859
| New | +$15M |
2022 Q3
0 quarters
|
|
|
13
FirstCash
FCFS
$9.28B
| $11M | 2.74% |
+149,418
| New | +$11.1M |
2022 Q3
0 quarters
|
|
|
14
ACI Worldwide
ACIW
$5.2B
| $10.3M | 2.57% |
+492,887
| New | +$12.3M |
2022 Q3
0 quarters
|
|
|
15
Cboe Global Markets
CBOE
$32.7B
| $9.13M | 2.28% |
77,818
-88,404
| -53% | -$10.6M |
2021 Q4
3 quarters
|
|
16
DELISTED
AvidXchange
AVDX
| $9M | 2.25% |
+1,068,842
| New | +$8.28M |
2022 Q3
0 quarters
|
|
|
PAYA
17
DELISTED
Paya Holdings Inc. Class A Common Stock
PAYA
| $8.71M | 2.18% |
1,426,383
-25,274
| -2% | -$166K |
2022 Q2
1 quarter
|
|
18
GCM Grosvenor
GCMG
$773M
| $8.48M | 2.12% |
1,074,903
+231,778
| +27% | +$1.82M |
2021 Q4
3 quarters
|
|
19
Acadian Asset Management
AAMI
$3.26B
| $8.41M | 2.1% |
563,768
+114,816
| +26% | +$2.06M |
2021 Q4
3 quarters
|
|
|
20
DELISTED
Comerica
CMA
| $7.51M | 1.88% |
105,666
-311,281
| -75% | -$24.5M |
2021 Q4
3 quarters
|
|
21
DELISTED
The First Bancshares, Inc.
FBMS
| $7.42M | 1.85% |
248,329
-9,871
| -4% | -$295K |
2022 Q1
2 quarters
|
|
22
First Western Financial
MYFW
$289M
| $7.08M | 1.77% |
287,296
+239,582
| +502% | +$6.54M |
2022 Q2
1 quarter
|
|
23
DELISTED
ENVESTNET, INC.
ENV
| $6.66M | 1.66% |
149,940
+26,945
| +22% | +$1.44M |
2022 Q1
2 quarters
|
|
24
Cullen/Frost Bankers
CFR
$9.6B
| $5.67M | 1.42% |
42,884
+32,684
| +320% | +$4.29M |
2021 Q4
3 quarters
|
|
25
Expensify
EXFY
$220M
| $5.01M | 1.25% |
+336,591
| New | +$6.28M |
2022 Q3
0 quarters
|
|
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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 84% of assets, up from 83% 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.