North Reef Capital Management LP
CIK 0001867831
Annualised vol
8.153413%
Beta
0.201407
HHI
664.900284
Top-10 weight
72.995632%
VaR 95%
0.695997%
VaR 99%
1.384789%
Max drawdown
12.466104%
Matched value
59.862613%
Returns of reported holdings
Loading returns…
Position changes vs prior quarter
What the latest 13F shows bought and sold against the quarter before, by share count.
| Ticker | Change | Shares now | Shares before | Share change % | Value now ($) |
|---|---|---|---|---|---|
| ABCB | REDUCED | 2,732,243 | 3,423,243 | -20.19% | 246,612,253 |
| FHN | REDUCED | 9,201,256 | 14,453,208 | -36.34% | 235,920,204 |
| KEY | REDUCED | 8,250,000 | 12,650,000 | -34.78% | 190,162,500 |
| ALKT | ADDED | 9,225,000 | 7,650,000 | 20.59% | 167,157,000 |
| CBC | ADDED | 4,600,000 | 4,075,000 | 12.88% | 139,748,000 |
| ACIW | ADDED | 2,617,000 | 2,230,000 | 17.35% | 131,608,930 |
| PIPR | ADDED | 1,350,000 | 964,632 | 39.95% | 97,659,000 |
| TRMK | REDUCED | 1,565,551 | 1,952,930 | -19.84% | 72,031,002 |
| AMTB | ADDED | 1,855,507 | 1,160,488 | 59.89% | 47,352,539 |
| TCBK | ADDED | 667,061 | 373,141 | 78.77% | 35,921,235 |
| MQ | ADDED | 7,900,000 | 7,400,000 | 6.76% | 32,074,000 |
| IIIV | ADDED | 1,075,000 | 1,025,000 | 4.88% | 22,962,000 |
| WLTH | REDUCED | 2,444,253 | 2,885,257 | -15.28% | 21,851,622 |
| FRST | ADDED | 1,226,283 | 1,135,281 | 8.02% | 20,074,253 |
| BANR | ADDED | 260,156 | 195,449 | 33.11% | 17,284,765 |
| SCHW | REDUCED | 175,000 | 350,000 | -50.0% | 16,147,250 |
| PAY | REDUCED | 600,000 | 734,551 | -18.32% | 14,496,000 |
| FRBT | NEW | 649,999 | - | - | 11,888,482 |
| COSO | ADDED | 370,982 | 320,982 | 15.58% | 9,960,867 |
| PB | REDUCED | 130,000 | 1,107,877 | -88.27% | 9,493,900 |
| FLYW | REDUCED | 450,000 | 1,100,000 | -59.09% | 7,906,500 |
| GCMG | ADDED | 630,180 | 630,179 | 0.0% | 7,751,214 |
| SMBK | ADDED | 137,089 | 137,088 | 0.0% | 6,432,216 |
| AAMI | REDUCED | 86,596 | 220,239 | -60.68% | 6,193,346 |
| NEWT | REDUCED | 155,681 | 198,954 | -21.75% | 2,305,636 |
| NPB | REDUCED | 100,000 | 232,396 | -56.97% | 1,918,000 |
| UWMC | REDUCED | 100,000 | 353,429 | -71.71% | 229,000 |
| BANC | CLOSED OUT | 0 | 1,500,000 | -100.0% | 0 |
| VYX | CLOSED OUT | 0 | 810,732 | -100.0% | 0 |
| V | CLOSED OUT | 0 | 360,000 | -100.0% | 0 |
| KLAR | CLOSED OUT | 0 | 223,820 | -100.0% | 0 |
| USCB | CLOSED OUT | 0 | 128,093 | -100.0% | 0 |
| RBB | CLOSED OUT | 0 | 64,150 | -100.0% | 0 |
| AXP | CLOSED OUT | 0 | 50,000 | -100.0% | 0 |
| RNST | CLOSED OUT | 0 | 14,923 | -100.0% | 0 |
Holdings (latest quarter)
| Ticker | Change | Issuer | Class | CUSIP | Value ($) | Weight % | Shares |
|---|---|---|---|---|---|---|---|
| - | MARKETAXESS HLDGS INC | COM | 57060D108 | 385,298,550 | 14.77 | 3395000.0 | |
| ABCB | REDUCED | AMERIS BANCORP | COM | 03076K108 | 246,612,253 | 9.46 | 2732243.0 |
| FHN | REDUCED | FIRST HORIZON CORPORATION | COM | 320517105 | 235,920,204 | 9.05 | 9201256.0 |
| KEY | REDUCED | KEYCORP | COM | 493267108 | 190,162,500 | 7.29 | 8250000.0 |
| ALKT | ADDED | ALKAMI TECHNOLOGY INC | COM | 01644J108 | 167,157,000 | 6.41 | 9225000.0 |
| - | SEACOAST BKG CORP FLA | COM NEW | 811707801 | 158,768,750 | 6.09 | 4775000.0 | |
| - | ATLANTIC UN BANKSHARES CORP | COM | 04911A107 | 150,835,150 | 5.78 | 3565000.0 | |
| CBC | ADDED | CENTRAL BANCOMPANY | COM CL A | 152413100 | 139,748,000 | 5.36 | 4600000.0 |
| ACIW | ADDED | ACI WORLDWIDE INC | COM | 004498101 | 131,608,930 | 5.05 | 2617000.0 |
| PIPR | ADDED | PIPER SANDLER COMPANIES | COM NEW | 724078209 | 97,659,000 | 3.74 | 1350000.0 |
| - | PINNACLE FINL PARTNERS INC | COM | 72348N109 | 73,797,453 | 2.83 | 731537.0 | |
| TRMK | REDUCED | TRUSTMARK CORP | COM | 898402102 | 72,031,002 | 2.76 | 1565551.0 |
| - | NORTHERN TR CORP | COM | 665859104 | 59,974,800 | 2.3 | 345000.0 | |
| - | EAGLE BANCORPORATION INC | COM | 268948106 | 48,647,259 | 1.87 | 1713535.0 | |
| AMTB | ADDED | AMERANT BANCORP INC | CL A | 023576101 | 47,352,539 | 1.82 | 1855507.0 |
| - | FLAGSTAR BANK NATIONAL ASSOC | COM NEW | 649445400 | 45,567,000 | 1.75 | 3050000.0 | |
| - | GLOBAL PMTS INC | COM | 37940X102 | 42,084,800 | 1.61 | 580000.0 | |
| TCBK | ADDED | TRICO BANCSHARES | COM | 896095106 | 35,921,235 | 1.38 | 667061.0 |
| MQ | ADDED | MARQETA INC | CLASS A COM | 57142B104 | 32,074,000 | 1.23 | 7900000.0 |
| - | FIRST WESTN FINL INC | COM | 33751L105 | 23,845,849 | 0.91 | 742630.0 | |
| IIIV | ADDED | I3 VERTICALS INC | COM CL A | 46571Y107 | 22,962,000 | 0.88 | 1075000.0 |
| WLTH | REDUCED | WEALTHFRONT CORP | COM | 947002101 | 21,851,622 | 0.84 | 2444253.0 |
| FRST | ADDED | PRIMIS FINANCIAL CORP | COM | 74167B109 | 20,074,253 | 0.77 | 1226283.0 |
| - | NATIONAL BK HLDGS CORP | CL A | 633707104 | 19,426,618 | 0.74 | 437241.0 | |
| BANR | ADDED | BANNER CORP | COM NEW | 06652V208 | 17,284,765 | 0.66 | 260156.0 |
| SCHW | REDUCED | SCHWAB CHARLES CORP | COM | 808513105 | 16,147,250 | 0.62 | 175000.0 |
| PAY | REDUCED | PAYMENTUS HOLDINGS INC | COM CL A | 70439P108 | 14,496,000 | 0.56 | 600000.0 |
| FRBT | NEW | FORBRIGHT INC | CL A COM | 34520K105 | 11,888,482 | 0.46 | 649999.0 |
| - | JEFFERSON CAPITAL INC | COM | 47248R103 | 10,330,743 | 0.4 | 530598.0 | |
| COSO | ADDED | COASTALSOUTH BANCSHARES INC | COM NEW | 19058X207 | 9,960,867 | 0.38 | 370982.0 |
| PB | REDUCED | PROSPERITY BANCSHARES INC | COM | 743606105 | 9,493,900 | 0.36 | 130000.0 |
| - | MIAMI INTL HLDGS INC | COM | 59356Q108 | 9,340,315 | 0.36 | 251354.0 | |
| FLYW | REDUCED | FLYWIRE CORPORATION | COM VTG | 302492103 | 7,906,500 | 0.3 | 450000.0 |
| GCMG | ADDED | GCM GROSVENOR INC | COM CL A | 36831E108 | 7,751,214 | 0.3 | 630180.0 |
| SMBK | ADDED | SMARTFINANCIAL INC | COM NEW | 83190L208 | 6,432,216 | 0.25 | 137089.0 |
| AAMI | REDUCED | ACADIAN ASSET MANAGEMENT INC | COM | 10948W103 | 6,193,346 | 0.24 | 86596.0 |
| - | SIMMONS FIRST NATL CORP | CL A $1 PAR | 828730200 | 3,397,500 | 0.13 | 150000.0 | |
| NEWT | REDUCED | NEWTEKONE INC | COM NEW | 652526203 | 2,305,636 | 0.09 | 155681.0 |
| NPB | REDUCED | NORTHPOINTE BANCSHARES INC. | COM SHS | 66661N886 | 1,918,000 | 0.07 | 100000.0 |
| - | INTERNATIONAL BANCSHARES COR | COM | 459044103 | 1,898,750 | 0.07 | 25000.0 | |
| - | BANK OF THE JAMES FINL GP IN | COM | 470299108 | 1,279,369 | 0.05 | 50132.0 | |
| - | GEMINI SPACE STA INC | CL A COM | 36866J105 | 426,004 | 0.02 | 100001.0 | |
| UWMC | REDUCED | UWM HOLDINGS CORPORATION | COM CL A | 91823B109 | 229,000 | 0.01 | 100000.0 |
Quarterly portfolios
| Period | Filed | Value ($) | Positions | Vol % | Beta | Max DD % |
|---|---|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | 2,608,060,624 | 43 | 8.153413 | 0.201407 | 12.466104 |
| 2026-03-31 | 2026-05-15 | 2,905,699,010 | 60 | 10.196438 | 0.288907 | 17.577905 |
| 2025-12-31 | 2026-02-17 | 2,484,768,027 | 56 | 6.561214 | 0.180111 | 11.726135 |
| 2025-09-30 | 2025-11-14 | 2,138,371,556 | 43 | 6.001128 | 0.146751 | 11.513388 |
| 2025-03-31 | 2025-05-15 | 2,311,346,419 | 46 | 5.204558 | 0.127559 | 10.057139 |
| 2024-12-31 | 2025-02-14 | 2,227,815,546 | 41 | 5.562165 | 0.138193 | 11.240591 |