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NRCM
North Reef Capital Management Portfolio holdings
AUM
$2.61B
Turnover
39.06%
1-Year Est. Return
11.5%
This Fund
S&P 500
This Quarter
Est. Return
+12.44%
1 Year Est. Return
+11.5%
3 Year Est. Return
+81.85%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$2.14B
AUM Growth
-$15.9M
(-0.74%)
Cap. Flow
-$240M
Cap. Flow
% of AUM
-11.21%
Top 10 Holdings %
Top 10 Hldgs %
63.59%
Holding
56
New
10
Increased
13
Reduced
25
Closed
8
Avg Time Held
1.1
years
Top 10 Avg Time Held
1.1
years
Top 20 Avg Time Held
1.4
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Comerica
CMA
|
+$81.3M |
| 2 |
Global Payments
GPN
|
+$55M |
| 3 |
CME Group
CME
|
+$46.6M |
| 4 |
Synovus
SNV
|
+$27M |
| 5 |
Charles Schwab
SCHW
|
+$26.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cboe Global Markets
CBOE
|
+$118M |
| 2 |
Truist Financial
TFC
|
+$89.4M |
| 3 |
Wells Fargo
WFC
|
+$75.2M |
| 4 |
The First Bancshares, Inc.
FBMS
|
+$35.3M |
| 5 |
Cadence Bank
CADE
|
+$32.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 79.89% |
| 2 | Technology | 15.66% |
| 3 | Industrials | 4.04% |
| 4 | Consumer Discretionary | 0.41% |
| 5 | Miscellaneous | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
DELISTED
Comerica
CMA
| $210M | 9.78% |
3,500,000
+1,475,000
| +73% | +$81.3M |
2023 Q1
6 quarters
|
|
|
2
DELISTED
Synovus
SNV
| $194M | 9.06% |
4,367,500
+617,500
| +16% | +$27M |
2021 Q4
11 quarters
|
|
3
First Horizon
FHN
$10.8B
| $189M | 8.84% |
12,200,000
+725,000
| +6% | +$11.5M |
2023 Q1
6 quarters
|
|
4
Ameris Bancorp
ABCB
$5.35B
| $145M | 6.77% |
2,325,000
-780
| -0% | -$45.6K |
2022 Q4
7 quarters
|
|
5
Pinnacle Financial Partners Inc
PNFP
$14.3B
| $121M | 5.65% |
1,235,000
-288,766
| -19% | -$26.6M |
2022 Q1
10 quarters
|
|
6
Texas Capital Bancshares
TCBI
$3.96B
| $120M | 5.58% |
1,675,000
-425,000
| -20% | -$27.8M |
2021 Q4
11 quarters
|
|
7
Seacoast Banking Corp of Florida
SBCF
$3.15B
| $109M | 5.07% |
4,080,000
-121,567
| -3% | -$3.21M |
2021 Q4
11 quarters
|
|
|
8
Cboe Global Markets
CBOE
$32.9B
| $96.3M | 4.49% |
470,000
-600,000
| -56% | -$118M |
2021 Q4
11 quarters
|
|
9
ACI Worldwide
ACIW
$5.33B
| $92.1M | 4.3% |
1,810,000
-368,275
| -17% | -$16.8M |
2022 Q3
8 quarters
|
|
|
10
Global Payments
GPN
$22.1B
| $86.5M | 4.04% |
845,000
+530,000
| +168% | +$55M |
2024 Q2
1 quarter
|
|
11
Q2 Holdings
QTWO
$3.86B
| $80.2M | 3.74% |
1,005,000
-225,000
| -18% | -$15.9M |
2022 Q2
9 quarters
|
|
12
DELISTED
Sandy Spring Bancorp Inc
SASR
| $69.8M | 3.26% |
2,225,000
+125,000
| +6% | +$3.69M |
2023 Q3
4 quarters
|
|
13
DELISTED
AvidXchange
AVDX
| $63.3M | 2.95% |
7,800,000
+1,500,000
| +24% | +$14.1M |
2022 Q3
8 quarters
|
|
|
14
CME Group
CME
$106B
| $49.6M | 2.32% |
+225,000
| New | +$46.6M |
2024 Q3
0 quarters
|
|
|
15
Wells Fargo
WFC
$252B
| $49.1M | 2.29% |
870,000
-1,330,000
| -60% | -$75.2M |
2021 Q4
11 quarters
|
|
16
MarketAxess Holdings
MKTX
$5.79B
| $41M | 1.91% |
160,000
-50,000
| -24% | -$11.7M |
2024 Q1
2 quarters
|
|
|
17
Charles Schwab
SCHW
$159B
| $38.9M | 1.81% |
599,999
+404,999
| +208% | +$26.6M |
2024 Q1
2 quarters
|
|
18
Bank of Hawaii
BOH
$2.65B
| $35.5M | 1.65% |
564,980
+39,980
| +8% | +$2.57M |
2023 Q3
4 quarters
|
|
19
Piper Sandler
PIPR
$4.57B
| $34.6M | 1.61% |
487,640
-252,360
| -34% | -$16.5M |
2023 Q1
6 quarters
|
|
20
Fidelity National Information Services
FIS
$18.6B
| $32.2M | 1.5% |
385,000
-10,000
| -3% | -$790K |
2023 Q1
6 quarters
|
|
21
Acadian Asset Management
AAMI
$3.27B
| $27.4M | 1.28% |
1,079,325
-33,150
| -3% | -$795K |
2021 Q4
11 quarters
|
|
22
Citigroup
C
$208B
| $25M | 1.17% |
+400,000
| New | +$24.7M |
2024 Q3
0 quarters
|
|
23
International Bancshares
IBOC
$4.19B
| $23.8M | 1.11% |
397,744
-534,146
| -57% | -$32.8M |
2022 Q3
8 quarters
|
|
24
Flywire
FLYW
$2.28B
| $21.7M | 1.01% |
+1,325,801
| New | +$23.2M |
2024 Q3
0 quarters
|
|
25
Renasant Corp
RNST
$3.65B
| $20.6M | 0.96% |
+634,990
| New | +$21.1M |
2024 Q3
0 quarters
|
|
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North Reef Capital Management's Q3 2024 Portfolio in Review
As of Q3 2024, North Reef Capital Management held 56 positions worth $2.14B, down 0.74% from $2.16B the previous quarter. Its ten largest holdings account for 64% of the portfolio.
North Reef Capital Management withdrew a net $240M in Q3 2024, closing 8 positions and reducing 25 holdings. Its most notable exit was Truist Financial, an estimated $89.4M position sold in full.
By sector, the portfolio is most concentrated in Financials at 80% of assets, down from 84% a quarter earlier, followed by Technology and Industrials.
Against the trend, North Reef Capital Management opened a new position in CME Group worth $49.6M.
- North Reef Capital Management's largest Q3 2024 buy was CME Group: 225,000 shares worth $49.6M.
- North Reef Capital Management added most to Comerica in Q3 2024, an estimated $81.3M increase.
- North Reef Capital Management's biggest Q3 2024 reduction was Cboe Global Markets, cutting an estimated $118M.
- North Reef Capital Management fully exited Truist Financial in Q3 2024, selling an estimated $89.4M.
- North Reef Capital Management's ten largest holdings make up 64% of its $2.14B portfolio in Q3 2024.
- North Reef Capital Management opened 10 new positions and closed 8 in Q3 2024.
- North Reef Capital Management's portfolio value fell 0.74% quarter-over-quarter to $2.14B.
Based on North Reef Capital Management's 13F filing for Q3 2024, filed 14 Nov 2024.