13F HOLDINGS REPORT
North Reef Capital Management LP
Quarter ended Q4 2025 · Filed February 17, 2026 · Accession 0001214659-26-001902
Total Value
$2.48B
Positions
56
Other Managers
0
Confidential Omitted
No
Holdings (56)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | MARKETAXESS HLDGS INC | MKTX | 1,609,330 | $291.7M | 11.74% |
| 2 | FIRST HORIZON CORPORATION | FHN-PH | 11,516,840 | $275.3M | 11.08% |
| 3 | AMERIS BANCORP | ABCB | 2,737,028 | $203.3M | 8.18% |
| 4 | SEACOAST BKG CORP FLA | SE | 5,832,075 | $183.2M | 7.37% |
| 5 | ATLANTIC UN BANKSHARES CORP | 04911A107 | 4,572,090 | $161.4M | 6.50% |
| 6 | COLUMBIA BKG SYS INC | 197236102 | 3,700,000 | $103.4M | 4.16% |
| 7 | VISA INC | V | 270,000 | $94.7M | 3.81% |
| 8 | ACI WORLDWIDE INC | ACIW | 1,970,000 | $94.2M | 3.79% |
| 9 | STELLAR BANCORP INC | STEL | 2,875,245 | $89.0M | 3.58% |
| 10 | Q2 HLDGS INC | QTWO | 1,215,000 | $87.7M | 3.53% |
| 11 | PIPER SANDLER COMPANIES | PIPR | 204,900 | $69.6M | 2.80% |
| 12 | FIRST INTST BANCSYSTEM INC | 32055Y201 | 1,974,999 | $68.3M | 2.75% |
| 13 | EAGLE BANCORP INC MD | EGBN | 2,940,000 | $63.0M | 2.53% |
| 14 | MIAMI INTL HLDGS INC | 59356Q108 | 1,265,000 | $56.1M | 2.26% |
| 15 | FB FINL CORP | 30257X104 | 892,685 | $49.8M | 2.00% |
| 16 | ALKAMI TECHNOLOGY INC | ALKT | 2,100,000 | $48.4M | 1.95% |
| 17 | FIRST FNDTN INC | 32026V104 | 7,812,475 | $48.1M | 1.94% |
| 18 | NORTHERN TR CORP | NTRSO | 310,611 | $42.4M | 1.71% |
| 19 | FIFTH THIRD BANCORP | FITBM | 850,000 | $39.8M | 1.60% |
| 20 | TRUIST FINL CORP | 89832Q109 | 765,774 | $37.7M | 1.52% |
| 21 | TRADEWEB MKTS INC | 892672106 | 316,039 | $34.0M | 1.37% |
| 22 | CENTRAL BANCOMPANY | CBC | 1,310,673 | $31.6M | 1.27% |
| 23 | PROSPERITY BANCSHARES INC | PB | 445,000 | $30.8M | 1.24% |
| 24 | MARQETA INC | MQ | 6,000,000 | $28.5M | 1.15% |
| 25 | TRICO BANCSHARES | TCBK | 485,423 | $23.0M | 0.93% |
| 26 | BANC OF CALIFORNIA INC | BANC-PF | 1,156,680 | $22.3M | 0.90% |
| 27 | ACADIAN ASSET MANAGEMENT INC | AAMI | 443,922 | $20.9M | 0.84% |
| 28 | FIRST WESTN FINL INC | 33751L105 | 685,954 | $18.4M | 0.74% |
| 29 | PRIMIS FINANCIAL CORP | FRST | 1,203,604 | $16.7M | 0.67% |
| 30 | WEALTHFRONT CORP | WLTH | 1,226,633 | $16.7M | 0.67% |
| 31 | EASTERN BANKSHARES INC | EBC | 796,451 | $14.7M | 0.59% |
| 32 | SHIFT4 PMTS INC | 82452J109 | 155,929 | $9.8M | 0.40% |
| 33 | NCR VOYIX CORPORATION | NCRRP | 840,395 | $8.6M | 0.34% |
| 34 | FLYWIRE CORPORATION | FLYW | 600,001 | $8.5M | 0.34% |
| 35 | SOUTHSTATE BK CORP | 84472E102 | 90,000 | $8.5M | 0.34% |
| 36 | MAREX GROUP PLC | MRX | 190,000 | $7.3M | 0.29% |
| 37 | JANUS HENDERSON GROUP PLC | JHG | 150,000 | $7.1M | 0.29% |
| 38 | GCM GROSVENOR INC | GCMG | 601,355 | $6.8M | 0.27% |
| 39 | COASTALSOUTH BANCSHARES INC | COSO | 263,900 | $6.1M | 0.25% |
| 40 | AMERICAS CAR-MART INC | 03062T105 | 242,187 | $6.1M | 0.25% |
| 41 | JEFFERSON CAPITAL INC | JCAP | 239,473 | $5.3M | 0.22% |
| 42 | FIGURE TECHNOLOGY SOLUTIO | FGRS | 125,000 | $5.1M | 0.21% |
| 43 | SMARTFINANCIAL INC | SMBK | 134,871 | $5.0M | 0.20% |
| 44 | KLARNA GROUP PLC | KLAR | 159,996 | $4.6M | 0.19% |
| 45 | NEWTEKONE INC | NEWTP | 386,923 | $4.4M | 0.18% |
| 46 | NORTHPOINTE BANCSHARES INC. | NPB | 258,752 | $4.3M | 0.17% |
| 47 | AVIDBANK HLDGS INC | AVBH | 123,671 | $3.3M | 0.13% |
| 48 | TEXAS CAP BANCSHARES INC | 88224Q107 | 34,570 | $3.1M | 0.13% |
| 49 | BULLISH | BLSH | 81,280 | $3.1M | 0.12% |
| 50 | GEMINI SPACE STA INC | GEMI | 300,000 | $3.0M | 0.12% |
| 51 | USCB FINANCIAL HOLDINGS INC | USCB | 123,741 | $2.3M | 0.09% |
| 52 | FLUSHING FINL CORP | 343873105 | 135,000 | $2.0M | 0.08% |
| 53 | CVB FINL CORP | 126600105 | 103,824 | $1.9M | 0.08% |
| 54 | I3 VERTICALS INC | IIIV | 75,711 | $1.9M | 0.08% |
| 55 | BEACON FINANCIAL CORP. | BBT | 50,344 | $1.3M | 0.05% |
| 56 | RENASANT CORP | RNST | 15,001 | $528,335 | 0.02% |