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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
-0.56%
1 Year Est. Return
+11.03%
3 Year Est. Return
+68.14%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.3B
AUM Growth
+$408M
(+46%)
Cap. Flow
+$400M
Cap. Flow
% of AUM
30.75%
Top 10 Holdings %
Top 10 Hldgs %
58.52%
Holding
44
New
4
Increased
28
Reduced
4
Closed
8
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CMA
Comerica
CMA
|
+$60.6M |
| 2 |
Cboe Global Markets
CBOE
|
+$53.2M |
| 3 |
First Horizon
FHN
|
+$39.4M |
| 4 |
PNC Financial Services
PNC
|
+$36.3M |
| 5 |
ACI Worldwide
ACIW
|
+$36.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Citigroup
C
|
+$36.3M |
| 2 |
Global Payments
GPN
|
+$32.9M |
| 3 |
US Bancorp
USB
|
+$16.5M |
| 4 |
AVDX
AvidXchange
AVDX
|
+$14.2M |
| 5 |
FITB
Fifth Third Bancorp
FITB
|
+$13.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 87.05% |
| 2 | Technology | 11.36% |
| 3 | Industrials | 1.59% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Cboe Global Markets
CBOE
$30.1B
| $101M | 7.78% |
732,880
+390,030
| +114% | +$53.2M |
|
|
SNV
2
DELISTED
Synovus
SNV
| $88.8M | 6.83% |
2,936,630
+551,630
| +23% | +$16.1M |
|
3
Seacoast Banking Corp of Florida
SBCF
$3.35B
| $86.8M | 6.67% |
3,925,390
+1,187,677
| +43% | +$25.8M |
|
|
CMA
4
DELISTED
Comerica
CMA
| $85.3M | 6.56% |
2,014,130
+1,499,130
| +291% | +$60.6M |
|
5
Ameris Bancorp
ABCB
$5.92B
| $84.1M | 6.47% |
2,458,426
+673,426
| +38% | +$22.3M |
|
6
International Bancshares
IBOC
$4.64B
| $71.2M | 5.47% |
1,610,062
+320,599
| +25% | +$13.9M |
|
7
Wells Fargo
WFC
$263B
| $70M | 5.38% |
1,640,000
+240,000
| +17% | +$9.66M |
|
|
8
PNC Financial Services
PNC
$101B
| $61.3M | 4.71% |
486,880
+296,880
| +156% | +$36.3M |
|
9
Wintrust Financial
WTFC
$10.7B
| $58.6M | 4.5% |
806,865
+295,897
| +58% | +$20.2M |
|
10
Hilltop Holdings
HTH
$2.24B
| $54.1M | 4.16% |
1,718,909
+1,139,310
| +197% | +$34.9M |
|
11
Q2 Holdings
QTWO
$3.93B
| $52.8M | 4.06% |
1,707,773
+357,336
| +26% | +$9.37M |
|
|
12
ACI Worldwide
ACIW
$5.41B
| $52.2M | 4.01% |
2,252,265
+1,498,600
| +199% | +$36.2M |
|
13
Pinnacle Financial Partners Inc
PNFP
$16.1B
| $44.5M | 3.42% |
785,535
+345,535
| +79% | +$18.2M |
|
|
BNY
14
Bank of New York Mellon
BNY
$107B
| $42.2M | 3.24% |
948,130
+235,692
| +33% | +$10.1M |
|
|
15
First Horizon
FHN
$12.1B
| $42.2M | 3.24% |
3,741,250
+2,941,250
| +368% | +$39.4M |
|
16
Texas Capital Bancshares
TCBI
$4.33B
| $37.5M | 2.88% |
727,750
+544,594
| +297% | +$27.2M |
|
|
AAMI
17
Acadian Asset Management
AAMI
$3.23B
| $35M | 2.69% |
1,668,283
+462,096
| +38% | +$10.3M |
|
|
SCHW
18
Charles Schwab
SCHW
$186B
| $31.4M | 2.41% |
+553,500
| New | +$29M |
|
|
CADE
19
DELISTED
Cadence Bank
CADE
| $29M | 2.23% |
1,474,706
+1,264,706
| +602% | +$25M |
|
|
AVDX
20
DELISTED
AvidXchange
AVDX
| $28.5M | 2.19% |
2,741,880
-1,573,120
| -36% | -$14.2M |
|
|
FBMS
21
DELISTED
The First Bancshares, Inc.
FBMS
| $28.4M | 2.18% |
1,097,836
+255,576
| +30% | +$6.54M |
|
|
22
Global Payments
GPN
$22.6B
| $20.7M | 1.59% |
210,130
-319,870
| -60% | -$32.9M |
|
23
KeyCorp
KEY
$24.4B
| $13.3M | 1.02% |
+1,435,000
| New | +$15M |
|
24
Piper Sandler
PIPR
$5.27B
| $13M | 1% |
402,524
+302,524
| +303% | +$9.99M |
|
25
Fidelity National Information Services
FIS
$21.8B
| $11.8M | 0.91% |
215,250
+160,250
| +291% | +$8.82M |
|
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North Reef Capital Management's Q2 2023 Portfolio in Review
As of Q2 2023, North Reef Capital Management held 44 positions worth $1.3B, up 46% from $893M the previous quarter. Its ten largest holdings account for 59% of the portfolio.
North Reef Capital Management deployed $400M of net new capital in Q2 2023, opening 4 new positions and adding to 28 existing holdings. Its largest new stake was Charles Schwab: 553,500 shares worth $31.4M.
By sector, the portfolio is most concentrated in Financials at 87% of assets, up from 84% a quarter earlier, followed by Technology and Industrials.
On the sell side, the largest reduction was Global Payments, an estimated $32.9M trimmed.
- North Reef Capital Management's largest Q2 2023 buy was Charles Schwab: 553,500 shares worth $31.4M.
- North Reef Capital Management added most to Comerica in Q2 2023, an estimated $60.6M increase.
- North Reef Capital Management's biggest Q2 2023 reduction was Global Payments, cutting an estimated $32.9M.
- North Reef Capital Management fully exited Citigroup in Q2 2023, selling an estimated $36.3M.
- North Reef Capital Management's ten largest holdings make up 59% of its $1.3B portfolio in Q2 2023.
- North Reef Capital Management opened 4 new positions and closed 8 in Q2 2023.
- North Reef Capital Management's portfolio value rose 46% quarter-over-quarter to $1.3B.
Based on North Reef Capital Management's 13F filing for Q2 2023, filed 14 Aug 2023.