Institutional Manager · CIK 0001029311
BANC FUNDS CO LLC
CHICAGO, IL · File #028-06701
Latest AUM
$505.2M
Positions
98
Top-10 Concentration
35.5%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| REDUCE | FineMark Holdings, Inc. | 31788B108 | -165,739 | -$6.3M | -$974,467 |
| REDUCE | First Busey Corporation | BUSEP | -256,152 | -$6.1M | +$212,308 |
| EXITED | Veritex Holdings, Inc. | 923451108 | -157,895 | -$5.3M | $0 |
| EXITED | ChoiceOne Financial Services, Inc. | 170386106 | -135,435 | -$3.9M | $0 |
| ADD | River City Bank | 76803X106 | +88,211 | +$3.9M | -$4.3M |
| REDUCE | Unity Bancorp, Inc. | UNTY | -65,749 | -$3.4M | +$1.3M |
| REDUCE | Merchants Bancorp | MBINN | -96,228 | -$3.3M | +$769,960 |
| REDUCE | MainStreet Bancshares, Inc. | MNSBP | -151,392 | -$3.1M | -$269,486 |
| EXITED | Dime Community Bancshares, Inc. | 25432X102 | -97,948 | -$2.9M | $0 |
| EXITED | Financial Institutions, Inc. | 317585404 | -104,000 | -$2.8M | $0 |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202598 pos · $505.2M
- 13F HOLDINGS REPORTQ/E Sep 2025111 pos · $572.0M
- 13F HOLDINGS REPORTQ/E Jun 2025115 pos · $661.6M
- 13F HOLDINGS REPORTQ/E Mar 2025118 pos · $758.5M
- 13F HOLDINGS REPORTQ/E Dec 2024121 pos · $906.6M
- 13F HOLDINGS REPORTQ/E Sep 2024125 pos · $921.4M
- 13F HOLDINGS REPORTQ/E Jun 2024127 pos · $843.0M
- 13F HOLDINGS REPORTQ/E Mar 2024134 pos · $884,708
- 13F HOLDINGS REPORTQ/E Dec 2023149 pos · $852,708
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | Unity Bancorp, Inc. | UNTY | 375,469 | $19.4M | 4.74% |
| 2 | Old Second Bancorp, Inc. | OSBC | 905,190 | $17.7M | 4.31% |
| 3 | American Business Bank | 02475L105 | 260,773 | $16.9M | 4.13% |
| 4 | Private Bancorp of America, Inc. | 74274F100 | 283,759 | $16.3M | 3.99% |
| 5 | Avidbank Holdings, Inc. | AVBH | 596,430 | $15.8M | 3.87% |
| 6 | California BanCorp. | BCAL | 766,155 | $14.3M | 3.49% |
| 7 | West Coast Community Bancorp | 952170108 | 273,451 | $12.0M | 2.94% |
| 8 | Primis Financial Corporation | FRST | 788,761 | $11.0M | 2.68% |
| 9 | Texas Capital Bancshares, Inc. | 88224Q107 | 119,762 | $10.8M | 2.65% |
| 10 | First Bank | 31931U102 | 658,439 | $10.8M | 2.65% |
| 11 | Banc of California, Inc. | BANC-PF | 519,738 | $10.0M | 2.45% |
| 12 | Metropolitan Bank Holding Corp. | 591774104 | 128,821 | $9.8M | 2.40% |
| 13 | Alpine Banks of Colorado | ALPIB | 237,315 | $9.4M | 2.31% |
| 14 | First Western Financial, Inc. | 33751L105 | 346,090 | $9.3M | 2.27% |
| 15 | First Business Financial Services, Inc. | 319390100 | 166,224 | $9.0M | 2.20% |
| 16 | Southern First Bancshares, Inc. | SFST | 171,655 | $8.8M | 2.16% |
| 17 | Blue Ridge Bankshares, Inc. | BRBS | 2,029,033 | $8.7M | 2.12% |
| 18 | MainStreet Bancshares, Inc. | MNSBP | 421,981 | $8.6M | 2.10% |
| 19 | FineMark Holdings, Inc. | 31788B108 | 219,426 | $8.4M | 2.04% |
| 20 | Merchants Bancorp | MBINN | 244,462 | $8.3M | 2.03% |