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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
-0.46%
1 Year Est. Return
+11.03%
3 Year Est. Return
+68.14%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$2.16B
AUM Growth
+$241M
Cap. Flow
+$239M
Cap. Flow %
11.07%
Top 10 Hldgs %
60.39%
Holding
57
New
13
Increased
18
Reduced
15
Closed
11

Top Buys

Rank Stock Value
1
CADE
Cadence Bank
CADE
+$41.1M
2
SNV
Synovus
SNV
+$39.8M
3
GPN icon
Global Payments
GPN
+$34.7M
4
CBOE icon
Cboe Global Markets
CBOE
+$27.5M
5
MKTX icon
MarketAxess Holdings
MKTX
+$26.8M

Top Sells

Rank Stock Value
1
IBOC icon
International Bancshares
IBOC
+$27.5M
2
FIS icon
Fidelity National Information Services
FIS
+$24.4M
3
PGC icon
Peapack-Gladstone Financial
PGC
+$9.7M
4
PNFP icon
Pinnacle Financial Partners Inc
PNFP
+$9.28M
5
QTWO icon
Q2 Holdings
QTWO
+$8.57M

Sector Composition

Rank Sector Weight
1 Financials 84.25%
2 Technology 14.34%
3 Industrials 1.41%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CBOE icon
1
Cboe Global Markets
CBOE
$30.1B
$182M 8.43%
1,070,000
+155,000
+17% +$27.5M
FHN icon
2
First Horizon
FHN
$12.1B
$181M 8.38%
11,475,000
+1,025,000
+10% +$15.5M
SNV
3
DELISTED
Synovus
SNV
$151M 6.98%
3,750,000
+1,050,000
+39% +$39.8M
WFC icon
4
Wells Fargo
WFC
$263B
$131M 6.05%
2,200,000
-100,000
-4% -$5.9M
TCBI icon
5
Texas Capital Bancshares
TCBI
$4.33B
$128M 5.95%
2,100,000
-140,000
-6% -$8.27M
PNFP icon
6
Pinnacle Financial Partners Inc
PNFP
$16.1B
$122M 5.65%
1,523,766
-116,234
-7% -$9.28M
ABCB icon
7
Ameris Bancorp
ABCB
$5.92B
$117M 5.42%
2,325,780
+780
+0% +$37.4K
CMA
8
DELISTED
Comerica
CMA
$103M 4.79%
2,025,000
+140,000
+7% +$7.15M
SBCF icon
9
Seacoast Banking Corp of Florida
SBCF
$3.35B
$99.3M 4.6%
4,201,567
+66,567
+2% +$1.55M
TFC icon
10
Truist Financial
TFC
$64.3B
$89.4M 4.14%
2,300,000
+650,000
+39% +$24.6M
ACIW icon
11
ACI Worldwide
ACIW
$5.41B
$86.2M 3.99%
2,178,275
-196,725
-8% -$6.85M
AVDX
12
DELISTED
AvidXchange
AVDX
$76M 3.52%
6,300,000
+800,000
+15% +$9.13M
QTWO icon
13
Q2 Holdings
QTWO
$3.93B
$74.2M 3.44%
1,230,000
-149,134
-11% -$8.57M
IBOC icon
14
International Bancshares
IBOC
$4.64B
$53.3M 2.47%
931,890
-488,110
-34% -$27.5M
SASR
15
DELISTED
Sandy Spring Bancorp Inc
SASR
$51.2M 2.37%
2,100,000
+550,000
+35% +$12.2M
PIPR icon
16
Piper Sandler
PIPR
$5.27B
$42.6M 1.97%
740,000
+23,860
+3% +$1.22M
MKTX icon
17
MarketAxess Holdings
MKTX
$5.72B
$42.1M 1.95%
210,000
+130,000
+163% +$26.8M
CADE
18
DELISTED
Cadence Bank
CADE
$41.3M 1.91%
+1,460,000
New +$41.1M
HTH icon
19
Hilltop Holdings
HTH
$2.24B
$36.4M 1.68%
1,162,883
+236,311
+26% +$7.18M
FBMS
20
DELISTED
The First Bancshares, Inc.
FBMS
$35.3M 1.63%
1,358,528
+308,528
+29% +$7.6M
GPN icon
21
Global Payments
GPN
$22.6B
$30.5M 1.41%
+315,000
New +$34.7M
BOH icon
22
Bank of Hawaii
BOH
$3.13B
$30M 1.39%
525,000
+148,528
+39% +$8.62M
FIS icon
23
Fidelity National Information Services
FIS
$21.8B
$29.8M 1.38%
395,000
-330,000
-46% -$24.4M
VBTX
24
DELISTED
Veritex Holdings
VBTX
$26.9M 1.25%
1,277,184
+1,077,184
+539% +$21.8M
AAMI
25
Acadian Asset Management
AAMI
$3.23B
$24.7M 1.14%
1,112,475
-15,772
-1% -$356K
1
2 3

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North Reef Capital Management's Q2 2024 Portfolio in Review

As of Q2 2024, North Reef Capital Management held 57 positions worth $2.16B, up 13% from $1.92B the previous quarter. Its ten largest holdings account for 60% of the portfolio.

North Reef Capital Management deployed $239M of net new capital in Q2 2024, opening 13 new positions and adding to 18 existing holdings. Its largest new stake was Cadence Bank: 1,460,000 shares worth $41.3M.

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

On the sell side, the largest reduction was International Bancshares, an estimated $27.5M trimmed.

  • North Reef Capital Management's largest Q2 2024 buy was Cadence Bank: 1,460,000 shares worth $41.3M.
  • North Reef Capital Management added most to Synovus in Q2 2024, an estimated $39.8M increase.
  • North Reef Capital Management's biggest Q2 2024 reduction was International Bancshares, cutting an estimated $27.5M.
  • North Reef Capital Management fully exited Peapack-Gladstone Financial in Q2 2024, selling an estimated $9.7M.
  • North Reef Capital Management's ten largest holdings make up 60% of its $2.16B portfolio in Q2 2024.
  • North Reef Capital Management opened 13 new positions and closed 11 in Q2 2024.
  • North Reef Capital Management's portfolio value rose 13% quarter-over-quarter to $2.16B.

Based on North Reef Capital Management's 13F filing for Q2 2024, filed 14 Aug 2024.