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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
+12.44%
1 Year Est. Return
+11.03%
3 Year Est. Return
+68.14%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$2.14B
AUM Growth
-$15.9M
Cap. Flow
-$240M
Cap. Flow %
-11.21%
Top 10 Hldgs %
63.59%
Holding
56
New
10
Increased
13
Reduced
25
Closed
8

Top Buys

Rank Stock Value
1
CMA
Comerica
CMA
+$81.3M
2
GPN icon
Global Payments
GPN
+$55M
3
CME icon
CME Group
CME
+$46.6M
4
SNV
Synovus
SNV
+$27M
5
SCHW
Charles Schwab
SCHW
+$26.6M

Top Sells

Rank Stock Value
1
CBOE icon
Cboe Global Markets
CBOE
+$118M
2
TFC icon
Truist Financial
TFC
+$89.4M
3
WFC icon
Wells Fargo
WFC
+$75.2M
4
FBMS
The First Bancshares, Inc.
FBMS
+$35.3M
5
CADE
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%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CMA
1
DELISTED
Comerica
CMA
$210M 9.78%
3,500,000
+1,475,000
+73% +$81.3M
SNV
2
DELISTED
Synovus
SNV
$194M 9.06%
4,367,500
+617,500
+16% +$27M
FHN icon
3
First Horizon
FHN
$12.1B
$189M 8.84%
12,200,000
+725,000
+6% +$11.5M
ABCB icon
4
Ameris Bancorp
ABCB
$5.92B
$145M 6.77%
2,325,000
-780
-0% -$45.6K
PNFP icon
5
Pinnacle Financial Partners Inc
PNFP
$16.1B
$121M 5.65%
1,235,000
-288,766
-19% -$26.6M
TCBI icon
6
Texas Capital Bancshares
TCBI
$4.33B
$120M 5.58%
1,675,000
-425,000
-20% -$27.8M
SBCF icon
7
Seacoast Banking Corp of Florida
SBCF
$3.35B
$109M 5.07%
4,080,000
-121,567
-3% -$3.21M
CBOE icon
8
Cboe Global Markets
CBOE
$30.2B
$96.3M 4.49%
470,000
-600,000
-56% -$118M
ACIW icon
9
ACI Worldwide
ACIW
$5.4B
$92.1M 4.3%
1,810,000
-368,275
-17% -$16.8M
GPN icon
10
Global Payments
GPN
$22.6B
$86.5M 4.04%
845,000
+530,000
+168% +$55M
QTWO icon
11
Q2 Holdings
QTWO
$3.93B
$80.2M 3.74%
1,005,000
-225,000
-18% -$15.9M
SASR
12
DELISTED
Sandy Spring Bancorp Inc
SASR
$69.8M 3.26%
2,225,000
+125,000
+6% +$3.69M
AVDX
13
DELISTED
AvidXchange
AVDX
$63.3M 2.95%
7,800,000
+1,500,000
+24% +$14.1M
CME icon
14
CME Group
CME
$95.5B
$49.6M 2.32%
+225,000
New +$46.6M
WFC icon
15
Wells Fargo
WFC
$263B
$49.1M 2.29%
870,000
-1,330,000
-60% -$75.2M
MKTX icon
16
MarketAxess Holdings
MKTX
$5.72B
$41M 1.91%
160,000
-50,000
-24% -$11.7M
SCHW
17
Charles Schwab
SCHW
$186B
$38.9M 1.81%
599,999
+404,999
+208% +$26.6M
BOH icon
18
Bank of Hawaii
BOH
$3.13B
$35.5M 1.65%
564,980
+39,980
+8% +$2.57M
PIPR icon
19
Piper Sandler
PIPR
$5.27B
$34.6M 1.61%
487,640
-252,360
-34% -$16.5M
FIS icon
20
Fidelity National Information Services
FIS
$21.8B
$32.2M 1.5%
385,000
-10,000
-3% -$790K
AAMI
21
Acadian Asset Management
AAMI
$3.23B
$27.4M 1.28%
1,079,325
-33,150
-3% -$795K
C icon
22
Citigroup
C
$226B
$25M 1.17%
+400,000
New +$24.7M
IBOC icon
23
International Bancshares
IBOC
$4.64B
$23.8M 1.11%
397,744
-534,146
-57% -$32.8M
FLYW icon
24
Flywire
FLYW
$2.19B
$21.7M 1.01%
+1,325,801
New +$23.2M
RNST icon
25
Renasant Corp
RNST
$3.93B
$20.6M 0.96%
+634,990
New +$21.1M
1
2 3

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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.