13F HOLDINGS REPORT
North Reef Capital Management LP
Quarter ended Q2 2025 · Filed August 14, 2025 · Accession 0001214659-25-012175
Total Value
$2.26B
Positions
40
Other Managers
0
Confidential Omitted
No
Holdings (40)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | FIRST HORIZON CORPORATION | FHN-PH | 12,575,000 | $266.6M | 11.82% |
| 2 | COMERICA INC | 200340107 | 4,175,000 | $249.0M | 11.04% |
| 3 | SYNOVUS FINL CORP | 87161C501 | 3,575,000 | $185.0M | 8.20% |
| 4 | SEACOAST BKG CORP FLA | SE | 5,750,000 | $158.8M | 7.04% |
| 5 | TEXAS CAP BANCSHARES INC | 88224Q107 | 1,984,977 | $157.6M | 6.99% |
| 6 | PINNACLE FINL PARTNERS INC | 72346Q104 | 1,165,000 | $128.6M | 5.70% |
| 7 | AMERIS BANCORP | ABCB | 1,890,018 | $122.3M | 5.42% |
| 8 | WELLS FARGO CO NEW | 949746101 | 1,475,000 | $118.2M | 5.24% |
| 9 | ACI WORLDWIDE INC | ACIW | 2,540,000 | $116.6M | 5.17% |
| 10 | MARKETAXESS HLDGS INC | MKTX | 420,000 | $93.8M | 4.16% |
| 11 | ATLANTIC UN BANKSHARES CORP | 04911A107 | 2,750,000 | $86.0M | 3.81% |
| 12 | Q2 HLDGS INC | QTWO | 840,520 | $78.7M | 3.49% |
| 13 | PIPER SANDLER COMPANIES | PIPR | 230,000 | $63.9M | 2.83% |
| 14 | VISA INC | V | 140,000 | $49.7M | 2.20% |
| 15 | STELLAR BANCORP INC | STEL | 1,540,000 | $43.1M | 1.91% |
| 16 | FIRST FNDTN INC | 32026V104 | 7,615,000 | $38.8M | 1.72% |
| 17 | CITIGROUP INC | C-PR | 450,000 | $38.3M | 1.70% |
| 18 | MARQETA INC | MQ | 6,500,000 | $37.9M | 1.68% |
| 19 | HILLTOP HOLDINGS INC | HTH | 1,185,000 | $36.0M | 1.59% |
| 20 | NORTHERN TR CORP | NTRSO | 185,000 | $23.5M | 1.04% |
| 21 | ACADIAN ASSET MANAGEMENT INC | AAMI | 480,000 | $16.9M | 0.75% |
| 22 | TRUIST FINL CORP | 89832Q109 | 325,000 | $14.0M | 0.62% |
| 23 | BANK MARIN BANCORP | 063425102 | 600,000 | $13.7M | 0.61% |
| 24 | SCHWAB CHARLES CORP | SCHW-PJ | 150,000 | $13.7M | 0.61% |
| 25 | FLYWIRE CORPORATION | FLYW | 1,100,000 | $12.9M | 0.57% |
| 26 | AMERICAS CAR-MART INC | 03062T105 | 226,045 | $12.7M | 0.56% |
| 27 | FIRST WESTN FINL INC | 33751L105 | 545,722 | $12.3M | 0.55% |
| 28 | NCR VOYIX CORPORATION | NCRRP | 900,001 | $10.6M | 0.47% |
| 29 | BANK AMERICA CORP | 060505104 | 200,000 | $9.5M | 0.42% |
| 30 | NORTHPOINTE BANCSHARES INC. | NPB | 601,344 | $8.2M | 0.37% |
| 31 | EAGLE BANCORP INC MD | EGBN | 400,000 | $7.8M | 0.35% |
| 32 | GCM GROSVENOR INC | GCMG | 530,196 | $6.1M | 0.27% |
| 33 | BLUE RIDGE BANKSHARES INC VA | BRBS | 1,515,107 | $5.4M | 0.24% |
| 34 | JEFFERSON CAPITAL INC | JCAP | 250,000 | $4.6M | 0.20% |
| 35 | ALKAMI TECHNOLOGY INC | ALKT | 139,413 | $4.2M | 0.19% |
| 36 | VERITEX HLDGS INC | 923451108 | 130,187 | $3.4M | 0.15% |
| 37 | PAYPAL HLDGS INC | PYPL | 45,000 | $3.3M | 0.15% |
| 38 | SHIFT4 PMTS INC | 82452J109 | 25,000 | $2.5M | 0.11% |
| 39 | SMARTFINANCIAL INC | SMBK | 46,104 | $1.6M | 0.07% |
| 40 | GUARANTY BANCSHARES INC TEX | 400764106 | 10,000 | $424,400 | 0.02% |