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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
+5.3%
1 Year Est. Return
+11.03%
3 Year Est. Return
+68.14%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$912M
AUM Growth
+$512M
Cap. Flow
+$502M
Cap. Flow %
55.06%
Top 10 Hldgs %
59.14%
Holding
48
New
11
Increased
21
Reduced
5
Closed
11

Top Buys

Rank Stock Value
1
ABCB icon
Ameris Bancorp
ABCB
+$55.5M
2
FRC
First Republic Bank
FRC
+$47.6M
3
BNY
Bank of New York Mellon
BNY
+$47.2M
4
SNV
Synovus
SNV
+$40.1M
5
TCBI icon
Texas Capital Bancshares
TCBI
+$38.3M

Top Sells

Rank Stock Value
1
SSB icon
SouthState Bank Corp
SSB
+$24.2M
2
FCNCA icon
First Citizens BancShares
FCNCA
+$18.8M
3
FCFS icon
FirstCash
FCFS
+$11M
4
CMA
Comerica
CMA
+$7.51M
5
ENV
ENVESTNET, INC.
ENV
+$6.66M

Sector Composition

Rank Sector Weight
1 Financials 76.89%
2 Technology 11.53%
3 Industrials 4.06%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FRC
1
DELISTED
First Republic Bank
FRC
$65.8M 7.22%
540,209
+389,718
+259% +$47.6M
TCBI icon
2
Texas Capital Bancshares
TCBI
$4.33B
$64.3M 7.04%
1,065,564
+648,954
+156% +$38.3M
SNV
3
DELISTED
Synovus
SNV
$60.7M 6.65%
1,616,379
+1,009,882
+167% +$40.1M
WTFC icon
4
Wintrust Financial
WTFC
$10.7B
$60M 6.58%
710,073
+406,269
+134% +$35.9M
ABCB icon
5
Ameris Bancorp
ABCB
$5.92B
$52.3M 5.73%
+1,108,516
New +$55.5M
IBOC icon
6
International Bancshares
IBOC
$4.64B
$51.7M 5.67%
1,129,887
+778,028
+221% +$37.5M
SBCF icon
7
Seacoast Banking Corp of Florida
SBCF
$3.35B
$51.4M 5.63%
1,647,175
+712,084
+76% +$22.6M
BNY
8
Bank of New York Mellon
BNY
$107B
$50.1M 5.49%
+1,100,327
New +$47.2M
QTWO icon
9
Q2 Holdings
QTWO
$3.93B
$45.6M 5%
1,697,772
+1,003,207
+144% +$28M
CBOE icon
10
Cboe Global Markets
CBOE
$30.2B
$37.7M 4.13%
300,137
+222,319
+286% +$27.4M
AVDX
11
DELISTED
AvidXchange
AVDX
$36.8M 4.03%
3,702,883
+2,634,041
+246% +$22.9M
SCHW
12
Charles Schwab
SCHW
$186B
$34.9M 3.83%
+419,414
New +$32.6M
WFC icon
13
Wells Fargo
WFC
$263B
$31.4M 3.44%
760,823
+68,808
+10% +$3.05M
USB icon
14
US Bancorp
USB
$99.8B
$28.6M 3.14%
+656,457
New +$28.1M
PNFP icon
15
Pinnacle Financial Partners Inc
PNFP
$16.1B
$28M 3.07%
381,090
+139,569
+58% +$11.2M
PAYA
16
DELISTED
Paya Holdings Inc. Class A Common Stock
PAYA
$23.3M 2.56%
2,965,715
+1,539,332
+108% +$11.9M
ACIW icon
17
ACI Worldwide
ACIW
$5.4B
$22.7M 2.49%
988,662
+495,775
+101% +$10.7M
AAMI
18
Acadian Asset Management
AAMI
$3.23B
$22M 2.42%
1,071,338
+507,570
+90% +$9.58M
FBMS
19
DELISTED
The First Bancshares, Inc.
FBMS
$17.9M 1.96%
558,906
+310,577
+125% +$10.1M
BAC icon
20
Bank of America
BAC
$441B
$17.3M 1.89%
521,435
-19,080
-4% -$657K
PNC icon
21
PNC Financial Services
PNC
$101B
$13.8M 1.51%
+87,335
New +$13.7M
GPN icon
22
Global Payments
GPN
$22.6B
$13.7M 1.5%
+137,959
New +$14.4M
MYFW icon
23
First Western Financial
MYFW
$309M
$11.6M 1.27%
411,092
+123,796
+43% +$3.45M
SIVB
24
DELISTED
SVB Financial Group
SIVB
$8.9M 0.98%
+38,660
New +$9.6M
STT icon
25
State Street
STT
$50.9B
$8.48M 0.93%
+109,322
New +$8.05M
1
2

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North Reef Capital Management's Q4 2022 Portfolio in Review

As of Q4 2022, North Reef Capital Management held 48 positions worth $912M, up 128% from $401M the previous quarter. Its ten largest holdings account for 59% of the portfolio.

North Reef Capital Management deployed $502M of net new capital in Q4 2022, opening 11 new positions and adding to 21 existing holdings. Its largest new stake was Ameris Bancorp: 1,108,516 shares worth $52.3M.

By sector, the portfolio is most concentrated in Financials at 77% of assets, down from 78% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was GCM Grosvenor, an estimated $3.51M trimmed.

  • North Reef Capital Management's largest Q4 2022 buy was Ameris Bancorp: 1,108,516 shares worth $52.3M.
  • North Reef Capital Management added most to First Republic Bank in Q4 2022, an estimated $47.6M increase.
  • North Reef Capital Management's biggest Q4 2022 reduction was GCM Grosvenor, cutting an estimated $3.51M.
  • North Reef Capital Management fully exited SouthState Bank Corp in Q4 2022, selling an estimated $24.2M.
  • North Reef Capital Management's ten largest holdings make up 59% of its $912M portfolio in Q4 2022.
  • North Reef Capital Management opened 11 new positions and closed 11 in Q4 2022.
  • North Reef Capital Management's portfolio value rose 128% quarter-over-quarter to $912M.

Based on North Reef Capital Management's 13F filing for Q4 2022, filed 13 Feb 2023.