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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
+0.52%
1 Year Est. Return
+11.03%
3 Year Est. Return
+68.14%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.58B
AUM Growth
+$283M
Cap. Flow
+$303M
Cap. Flow %
19.12%
Top 10 Hldgs %
56.28%
Holding
50
New
14
Increased
21
Reduced
9
Closed
6

Top Buys

Rank Stock Value
1
TFC icon
Truist Financial
TFC
+$71.8M
2
FHN icon
First Horizon
FHN
+$63.9M
3
SNV
Synovus
SNV
+$48.4M
4
TCBI icon
Texas Capital Bancshares
TCBI
+$43.7M
5
CMA
Comerica
CMA
+$41.1M

Top Sells

Rank Stock Value
1
CBOE icon
Cboe Global Markets
CBOE
+$60.7M
2
BNY
Bank of New York Mellon
BNY
+$28.2M
3
PNC icon
PNC Financial Services
PNC
+$22.3M
4
GPN icon
Global Payments
GPN
+$20.7M
5
ABCB icon
Ameris Bancorp
ABCB
+$19.1M

Sector Composition

Rank Sector Weight
1 Financials 87.95%
2 Technology 12.05%
3 Industrials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SNV
1
DELISTED
Synovus
SNV
$125M 7.87%
4,485,000
+1,548,370
+53% +$48.4M
CMA
2
DELISTED
Comerica
CMA
$120M 7.55%
2,880,000
+865,870
+43% +$41.1M
FHN icon
3
First Horizon
FHN
$12.1B
$98.1M 6.19%
8,900,000
+5,158,750
+138% +$63.9M
WFC icon
4
Wells Fargo
WFC
$263B
$94M 5.93%
2,300,000
+660,000
+40% +$28.5M
TCBI icon
5
Texas Capital Bancshares
TCBI
$4.33B
$85.4M 5.39%
1,450,000
+722,250
+99% +$43.7M
SBCF icon
6
Seacoast Banking Corp of Florida
SBCF
$3.35B
$84M 5.3%
3,825,000
-100,390
-3% -$2.35M
ABCB icon
7
Ameris Bancorp
ABCB
$5.92B
$75.9M 4.79%
1,978,000
-480,426
-20% -$19.1M
HTH icon
8
Hilltop Holdings
HTH
$2.24B
$71.6M 4.52%
2,525,000
+806,091
+47% +$24.3M
IBOC icon
9
International Bancshares
IBOC
$4.64B
$71.5M 4.51%
1,650,000
+39,938
+2% +$1.83M
TFC icon
10
Truist Financial
TFC
$64.3B
$66.8M 4.22%
+2,335,000
New +$71.8M
QTWO icon
11
Q2 Holdings
QTWO
$3.93B
$66.8M 4.22%
2,070,000
+362,227
+21% +$12M
ACIW icon
12
ACI Worldwide
ACIW
$5.4B
$64.2M 4.05%
2,845,000
+592,735
+26% +$13.9M
PNFP icon
13
Pinnacle Financial Partners Inc
PNFP
$16.1B
$61M 3.85%
910,108
+124,573
+16% +$8.4M
WTFC icon
14
Wintrust Financial
WTFC
$10.7B
$52M 3.28%
689,287
-117,578
-15% -$9.25M
CBOE icon
15
Cboe Global Markets
CBOE
$30.2B
$50M 3.16%
320,000
-412,880
-56% -$60.7M
AVDX
16
DELISTED
AvidXchange
AVDX
$42.8M 2.7%
4,510,000
+1,768,120
+64% +$18.5M
PNC icon
17
PNC Financial Services
PNC
$101B
$38.1M 2.4%
310,000
-176,880
-36% -$22.3M
SCHW
18
Charles Schwab
SCHW
$186B
$36M 2.27%
655,000
+101,500
+18% +$6.13M
PIPR icon
19
Piper Sandler
PIPR
$5.27B
$35.6M 2.25%
980,000
+577,476
+143% +$20.9M
AAMI
20
Acadian Asset Management
AAMI
$3.23B
$33M 2.08%
1,700,000
+31,717
+2% +$655K
FBMS
21
DELISTED
The First Bancshares, Inc.
FBMS
$29.8M 1.88%
1,106,781
+8,945
+0.8% +$256K
CADE
22
DELISTED
Cadence Bank
CADE
$25.3M 1.59%
1,190,350
-284,356
-19% -$6.42M
C icon
23
Citigroup
C
$226B
$24.7M 1.56%
+600,000
New +$26.3M
V icon
24
Visa
V
$679B
$18.4M 1.16%
+80,000
New +$19.2M
SF
25
Stifel
SF
$12.6B
$14.7M 0.93%
360,000
+244,470
+212% +$10.3M
1
2

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CCPM
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North Reef Capital Management's Q3 2023 Portfolio in Review

As of Q3 2023, North Reef Capital Management held 50 positions worth $1.58B, up 22% from $1.3B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

North Reef Capital Management deployed $303M of net new capital in Q3 2023, opening 14 new positions and adding to 21 existing holdings. Its largest new stake was Truist Financial: 2,335,000 shares worth $66.8M.

By sector, the portfolio is most concentrated in Financials at 88% of assets, up from 87% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was Cboe Global Markets, an estimated $60.7M trimmed.

  • North Reef Capital Management's largest Q3 2023 buy was Truist Financial: 2,335,000 shares worth $66.8M.
  • North Reef Capital Management added most to First Horizon in Q3 2023, an estimated $63.9M increase.
  • North Reef Capital Management's biggest Q3 2023 reduction was Cboe Global Markets, cutting an estimated $60.7M.
  • North Reef Capital Management fully exited Global Payments in Q3 2023, selling an estimated $20.7M.
  • North Reef Capital Management's ten largest holdings make up 56% of its $1.58B portfolio in Q3 2023.
  • North Reef Capital Management opened 14 new positions and closed 6 in Q3 2023.
  • North Reef Capital Management's portfolio value rose 22% quarter-over-quarter to $1.58B.

Based on North Reef Capital Management's 13F filing for Q3 2023, filed 13 Nov 2023.