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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
+2.7%
1 Year Est. Return
+11.03%
3 Year Est. Return
+68.14%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.92B
AUM Growth
+$201M
Cap. Flow
+$164M
Cap. Flow %
8.57%
Top 10 Hldgs %
65.16%
Holding
47
New
11
Increased
18
Reduced
14
Closed
3

Top Buys

Rank Stock Value
1
CBOE icon
Cboe Global Markets
CBOE
+$81.2M
2
WFC icon
Wells Fargo
WFC
+$51.3M
3
FIS icon
Fidelity National Information Services
FIS
+$31.5M
4
CMA
Comerica
CMA
+$25.5M
5
TCBI icon
Texas Capital Bancshares
TCBI
+$23.1M

Top Sells

Rank Stock Value
1
SNV
Synovus
SNV
+$26.7M
2
HTH icon
Hilltop Holdings
HTH
+$26.4M
3
C icon
Citigroup
C
+$24.2M
4
NTRS icon
Northern Trust
NTRS
+$18.3M
5
AAMI
Acadian Asset Management
AAMI
+$16.1M

Sector Composition

Rank Sector Weight
1 Financials 84.34%
2 Technology 15.22%
3 Industrials 0.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CBOE icon
1
Cboe Global Markets
CBOE
$29.8B
$168M 8.76%
915,000
+439,800
+93% +$81.2M
FHN icon
2
First Horizon
FHN
$12.1B
$161M 8.39%
10,450,000
+287,500
+3% +$4.13M
PNFP icon
3
Pinnacle Financial Partners Inc
PNFP
$15.5B
$141M 7.34%
1,640,000
– –
TCBI icon
4
Texas Capital Bancshares
TCBI
$4.31B
$138M 7.19%
2,240,000
+381,250
+21% +$23.1M
WFC icon
5
Wells Fargo
WFC
$261B
$133M 6.95%
2,300,000
+980,000
+74% +$51.3M
ABCB icon
6
Ameris Bancorp
ABCB
$5.89B
$112M 5.86%
2,325,000
+91,797
+4% +$4.45M
SNV
7
DELISTED
Synovus
SNV
$108M 5.64%
2,700,000
-710,000
-21% -$26.7M
SBCF icon
8
Seacoast Banking Corp of Florida
SBCF
$3.26B
$105M 5.47%
4,135,000
+5,000
+0.1% +$126K
CMA
9
DELISTED
Comerica
CMA
$104M 5.4%
1,885,000
+488,750
+35% +$25.5M
IBOC icon
10
International Bancshares
IBOC
$4.77B
$79.7M 4.16%
1,420,000
+238,750
+20% +$12.7M
ACIW icon
11
ACI Worldwide
ACIW
$5.72B
$78.9M 4.11%
2,375,000
+283,007
+14% +$8.74M
QTWO icon
12
Q2 Holdings
QTWO
$3.42B
$72.5M 3.78%
1,379,134
-295,866
-18% -$13.4M
AVDX
13
DELISTED
AvidXchange
AVDX
$72.3M 3.77%
5,500,000
+1,002,200
+22% +$12M
TFC icon
14
Truist Financial
TFC
$63.2B
$64.3M 3.35%
1,650,000
-350,000
-18% -$12.8M
FIS icon
15
Fidelity National Information Services
FIS
$21.5B
$53.8M 2.8%
725,000
+484,420
+201% +$31.5M
SASR
16
DELISTED
Sandy Spring Bancorp Inc
SASR
$35.9M 1.87%
1,550,000
+981,699
+173% +$23.1M
PIPR icon
17
Piper Sandler
PIPR
$5.14B
$35.5M 1.85%
716,140
-329,844
-32% -$15.1M
HTH icon
18
Hilltop Holdings
HTH
$2.29B
$29M 1.51%
926,572
-830,928
-47% -$26.4M
FBMS
19
DELISTED
The First Bancshares, Inc.
FBMS
$27.2M 1.42%
1,050,000
-188,991
-15% -$4.86M
AAMI
20
Acadian Asset Management
AAMI
$2.88B
$25.8M 1.34%
1,128,247
-747,478
-40% -$16.1M
BOH icon
21
Bank of Hawaii
BOH
$3.33B
$23.5M 1.22%
376,472
+61,044
+19% +$3.87M
SF
22
Stifel
SF
$12.3B
$21.2M 1.11%
407,097
-21,167
-5% -$1.04M
CBSH icon
23
Commerce Bancshares
CBSH
$8.5B
$18.7M 0.97%
387,145
+98,841
+34% +$4.69M
MKTX icon
24
MarketAxess Holdings
MKTX
$4.15B
$17.5M 0.91%
+80,000
New +$18.9M
MQ icon
25
Marqeta
MQ
$1.8B
$11.9M 0.62%
500,000
+179,649
+56% +$4.45M
1
2

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HCC
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North Reef Capital Management's Q1 2024 Portfolio in Review

As of Q1 2024, North Reef Capital Management held 47 positions worth $1.92B, up 12% from $1.72B the previous quarter. Its ten largest holdings account for 65% of the portfolio.

North Reef Capital Management deployed $164M of net new capital in Q1 2024, opening 11 new positions and adding to 18 existing holdings. Its largest new stake was MarketAxess Holdings: 80,000 shares worth $17.5M.

By sector, the portfolio is most concentrated in Financials at 84% of assets, down from 87% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was Synovus, an estimated $26.7M trimmed.

  • North Reef Capital Management's largest Q1 2024 buy was MarketAxess Holdings: 80,000 shares worth $17.5M.
  • North Reef Capital Management added most to Cboe Global Markets in Q1 2024, an estimated $81.2M increase.
  • North Reef Capital Management's biggest Q1 2024 reduction was Synovus, cutting an estimated $26.7M.
  • North Reef Capital Management fully exited Citigroup in Q1 2024, selling an estimated $24.2M.
  • North Reef Capital Management's ten largest holdings make up 65% of its $1.92B portfolio in Q1 2024.
  • North Reef Capital Management opened 11 new positions and closed 3 in Q1 2024.
  • North Reef Capital Management's portfolio value rose 12% quarter-over-quarter to $1.92B.

Based on North Reef Capital Management's 13F filing for Q1 2024, filed 15 May 2024.