Fund HoldingsNorth Reef Capital Management LP

Total Portfolio Value
$2.48B
Total Bought
$969.01M
Total Sold
$611.31M
Net Transaction
+$357.70M
Filing Period:
Securities
SharesValue ($K)
Q3 2025
Q4 2025
Change
Q3 2025
Q4 2025
Weight (%)
Change
MARKETAXESS HLDGS INC(MKTX)911,3581,609,330+697,972158,804291,69111.74%+132,887
COLUMBIA BKG SYS INC(COLB)100,0003,700,000+3,600,0002,574103,4154.16%+100,841
VISA INC(V)105,000270,000+165,00035,84594,6923.81%+58,847
AMERIS BANCORP(ABCB)1,981,0612,737,028+755,967145,232203,2798.18%+58,047
FB FINL CORP(FBK)0892,685+892,685049,8122.00%+49,812
ALKAMI TECHNOLOGY INC(ALKT)127,6042,100,000+1,972,3963,17048,4471.95%+45,277
FIRST INTST BANCSYSTEM INC(FIBK)850,0001,974,999+1,124,99927,09068,3352.75%+41,245
FIFTH THIRD BANCORP(FITB)0850,000+850,000039,7891.60%+39,789
TRUIST FINL CORP(TFC)0765,774+765,774037,6841.52%+37,684
STELLAR BANCORP INC1,829,9372,875,245+1,045,30855,52088,9603.58%+33,440
CENTRAL BANCOMPANY(CBC)01,310,673+1,310,673031,6131.27%+31,613
SEACOAST BKG CORP FLA(SBCF)4,995,0005,832,075+837,075151,998183,2447.37%+31,246
PROSPERITY BANCSHARES INC(PB)0445,000+445,000030,7541.24%+30,754
ATLANTIC UN BANKSHARES CORP(AUB)3,713,6044,572,090+858,486131,053161,3956.50%+30,342
TRADEWEB MKTS INC(TW)41,200316,039+274,8394,57233,9871.37%+29,414
MIAMI INTL HLDGS INC(MIAX)725,8041,265,000+539,19629,22156,1412.26%+26,920
TRICO BANCSHARES(TCBK)0485,423+485,423022,9940.93%+22,994
BANC OF CALIFORNIA INC(BANC)01,156,680+1,156,680022,3120.90%+22,312
PIPER SANDLER COMPANIES151,707204,900+53,19352,64169,6072.80%+16,966
NORTHERN TR CORP(NTRS)190,000310,611+120,61125,57442,4261.71%+16,852
WEALTHFRONT CORP(WLTH)01,226,633+1,226,633016,6700.67%+16,670
EASTERN BANKSHARES INC(EBC)0796,451+796,451014,6790.59%+14,679
EAGLE BANCORP INC MD(EGBN)2,632,9182,940,000+307,08253,23862,9752.53%+9,737
FIRST FNDTN INC
COM
6,900,3067,812,475+912,16938,43548,1251.94%+9,690
SOUTHSTATE BK CORP090,000+90,00008,4700.34%+8,470
JANUS HENDERSON GROUP PLC0150,000+150,00007,1360.29%+7,136
PRIMIS FINANCIAL CORP974,8701,203,604+228,73410,24616,7420.67%+6,496
MAREX GROUP PLC(MRX)52,191190,000+137,8091,7557,2880.29%+5,534
KLARNA GROUP PLC(KLAR)0159,996+159,99604,6250.19%+4,625
FIRST WESTN FINL INC617,824685,954+68,13014,22518,3900.74%+4,165
MARQETA INC(MQ)4,650,0006,000,000+1,350,00024,55228,5001.15%+3,948
USCB FINANCIAL HOLDINGS INC0123,741+123,74102,2790.09%+2,279
FLUSHING FINL CORP0135,000+135,00002,0480.08%+2,048
SMARTFINANCIAL INC(SMBK)84,570134,871+50,3013,0224,9890.20%+1,967
CVB FINL CORP(CVBF)0103,824+103,82401,9310.08%+1,931
I3 VERTICALS INC075,711+75,71101,9070.08%+1,907
SHIFT4 PMTS INC(FOUR)103,056155,929+52,8737,9779,8190.40%+1,842
BEACON FINANCIAL CORP.050,344+50,34401,3280.05%+1,328
COASTALSOUTH BANCSHARES INC220,619263,900+43,2814,8126,1360.25%+1,324
RENASANT CORP015,001+15,00105280.02%+528
GCM GROSVENOR INC526,354601,355+75,0016,3536,8070.27%+454
JEFFERSON CAPITAL INC(JCAP)295,559239,473-56,0865,1015,3500.22%+248
ACI WORLDWIDE INC1,783,8511,970,000+186,14994,13494,1863.79%+52
NEWTEKONE INC386,924386,923-14,4304,3920.18%-39
FLYWIRE CORPORATION(FLYW)650,000600,001-49,9998,8018,4960.34%-305
AVIDBANK HLDGS INC141,496123,671-17,8253,6083,2850.13%-323
NORTHPOINTE BANCSHARES INC.283,752258,752-25,0004,8464,3420.17%-505
CIVISTA BANCSHARES INC29,7760-29,7766050-605
AMERICAS CAR-MART INC270,190242,187-28,0037,8926,1180.25%-1,775
NCR VOYIX CORPORATION840,395840,395010,5478,5720.34%-1,975
BULLISH(BLSH)80,00081,280+1,2805,0893,0780.12%-2,011
GEMINI SPACE STA INC245,322300,000+54,6785,8782,9760.12%-2,902
CME GROUP INC(CME)11,1980-11,1983,0260-3,026
FIGURE TECHNOLOGY SOLUTIO(FGRS)240,000125,000-115,0008,7295,1050.21%-3,624
ACADIAN ASSET MANAGEMENT INC(AAMI)511,452443,922-67,53024,63220,8640.84%-3,767
FIRST HORIZON CORPORATION(FHN)12,370,00011,516,840-853,160279,686275,25211.08%-4,433
SPDR SERIES TRUST
ST STR SP REGBNK
75,0000-75,0004,7480-4,747
Q2 HLDGS INC(QTWO)1,690,0001,215,000-475,000122,33987,6743.53%-34,665
TEXAS CAP BANCSHARES INC(TCBI)555,00034,570-520,43046,9143,1300.13%-43,784
COMERICA INC3,570,0000-3,570,000244,6160-244,616
CADENCE BANK7,055,0000-7,055,000264,8450-264,845
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