Latest North Reef Capital Management LP Stock Portfolio

North Reef Capital Management LP Performance:

2025 Q4: 1.52%YTD: 3.44%2024: 21.22%

Performance for 2025 Q4 is 1.52%, and YTD is 3.44%, and 2024 is 21.22%.

About North Reef Capital Management LP and 13F Hedge Fund Stock Holdings

On 2026-02-17, the fund reported it's updated stock portfolio. In the 13F Holdings report, North Reef Capital Management LP reported an equity portfolio of $2.5 Billions as of 31 Dec, 2025.

The top stock holdings of North Reef Capital Management LP are MKTX, FHN, ABCB. The fund has invested 11.7% of it's portfolio in MARKETAXESS HLDGS INC and 11.1% of portfolio in FIRST HORIZON CORPORATION.

The fund managers got completely rid off CADENCE BANK (CADE), COMERICA INC (CMA) and SPDR SERIES TRUST (BIL) stocks. They significantly reduced their stock positions in TEXAS CAP BANCSHARES INC (TCBI), FIGURE TECHNOLOGY SOLUTIO and Q2 HLDGS INC (QTWO). North Reef Capital Management LP opened new stock positions in FB FINL CORP (FBK), FIFTH THIRD BANCORP (FITB) and TRUIST FINL CORP (TFC). The fund showed a lot of confidence in some stocks as they added substantially to COLUMBIA BKG SYS INC (COLB), ALKAMI TECHNOLOGY INC (ALKT) and TRADEWEB MKTS INC (TW).

North Reef Capital Management LP Annual Return Estimates Vs S&P 500

Our best estimate is that North Reef Capital Management LP made a return of 1.52% in the last quarter. In trailing 12 months, it's portfolio return was 3.44%.

Performance
S&P 500

New Buys

Ticker	$ Bought
fb finl corp	49,811,800
fifth third bancorp	39,788,500
truist finl corp	37,683,700
central bancompany	31,613,400
prosperity bancshares inc	30,754,000
trico bancshares	22,994,500
banc of california inc	22,312,400
wealthfront corp	16,669,900

New stocks bought by North Reef Capital Management LP

Additions

Ticker	% Inc.
columbia bkg sys inc	3,600
alkami technology inc	1,545
tradeweb mkts inc	667
marex group plc	264
visa inc	157
first intst bancsystem inc	132
marketaxess hldgs inc	76.59
miami intl hldgs inc	74.29

Additions to existing portfolio by North Reef Capital Management LP

Reductions

Ticker	% Reduced
texas cap bancshares inc	-93.77
figure technology solutio	-47.92
q2 hldgs inc	-28.11
jefferson capital inc	-18.98
acadian asset management inc	-13.2
avidbank hldgs inc	-12.6
americas car-mart inc	-10.36
northpointe bancshares inc.	-8.81

North Reef Capital Management LP reduced stake in above stock

Sold off

Ticker	$ Sold
cadence bank	-264,845,000
comerica inc	-244,616,000
spdr series trust	-4,747,500
civista bancshares inc	-604,751
cme group inc	-3,025,590

North Reef Capital Management LP got rid off the above stocks

Sector Distribution

North Reef Capital Management LP has about 78.4% of it's holdings in Financial Services sector.

Sector	%
Financial Services	78.4
Technology	11.6
Others	9.8

Market Cap. Distribution

North Reef Capital Management LP has about 21.1% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
MID-CAP	56.1
LARGE-CAP	17.3
SMALL-CAP	10.6
UNALLOCATED	10.5
MEGA-CAP	3.8
MICRO-CAP	1.4

Stocks belong to which Index?

About 71.3% of the stocks held by North Reef Capital Management LP either belong to S&P 500 or RUSSELL 2000 index.

Index	%
RUSSELL 2000	50.9
Others	28.7
S&P 500	20.4

Top 5 Winners (%)		%
FRST	primis financial corp	28.4 %
	jefferson capital inc	26.6 %
MYFW	first westn finl inc	15.5 %
FFWM	first fndtn inc	9.9 %
	figure technology solutio	9.3 %

Top 5 Winners ($)		$
FHN	first horizon corporation	15.4 M
MKTX	marketaxess hldgs inc	8.8 M
SBCF	seacoast bkg corp fla	5.4 M
FFWM	first fndtn inc	4.3 M
COLB	columbia bkg sys inc	4.2 M

Top 5 Losers (%)		%
	gemini space sta inc	-56.3 %
	bullish	-40.3 %
NCR	ncr voyix corporation	-18.7 %
FOUR	shift4 pmts inc	-16.0 %
CRMT	americas car-mart inc	-12.8 %

Top 5 Losers ($)		$
ACIW	aci worldwide inc	-9.3 M
	gemini space sta inc	-3.8 M
MQ	marqeta inc	-2.8 M
	bullish	-2.1 M
NCR	ncr voyix corporation	-2.0 M

North Reef Capital Management LP Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of North Reef Capital Management LP

North Reef Capital Management LP has 56 stocks in it's portfolio. About 63.7% of the portfolio is in top 10 stocks. ACIW proved to be the most loss making stock for the portfolio. FHN was the most profitable stock for North Reef Capital Management LP last quarter.

Last Reported on: 17 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
ABCB	ameris bancorp	8.18	2,737,030	203,279,000	added	38.16

ACIW	aci worldwide inc	3.79	1,970,000	94,185,700	added	10.44

ALKT	alkami technology inc	1.95	2,100,000	48,447,000	added	1,545

AUB	atlantic un bankshares corp	6.50	4,572,090	161,395,000	added	23.12

AVBH	avidbank hldgs inc	0.13	123,671	3,284,700	reduced	-12.6

BANC	banc of california inc	0.90	1,156,680	22,312,400	new

BHLB	beacon financial corp.	0.05	50,344	1,327,570	new

BIL	spdr series trust	0.00	0.00	0.00	sold off	-100

BSIG	acadian asset management inc	0.84	443,922	20,864,300	reduced	-13.2

CADE	cadence bank	0.00	0.00	0.00	sold off	-100

CIVB	civista bancshares inc	0.00	0.00	0.00	sold off	-100

CMA	comerica inc	0.00	0.00	0.00	sold off	-100

CME	cme group inc	0.00	0.00	0.00	sold off	-100

COLB	columbia bkg sys inc	4.16	3,700,000	103,415,000	added	3,600

CRMT	americas car-mart inc	0.25	242,187	6,117,640	reduced	-10.36

CVBF	cvb finl corp	0.08	103,824	1,931,130	new

EBC	eastern bankshares inc	0.59	796,451	14,678,600	new

EGBN	eagle bancorp inc md	2.53	2,940,000	62,974,800	added	11.66

FBK	fb finl corp	2.00	892,685	49,811,800	new

FFIC	flushing finl corp	0.08	135,000	2,047,950	new