North Reef Capital Management LP

Portfolio Overview

North Reef Capital Management LP disclosed 43 positions worth $2.6B in its Form 13F-HR for Q2 2026, led by $MKTX (MARKETAXESS HOLDINGS INC) at 14.8% of the equity portfolio, followed by $ABCB and $FHN. During the quarter the fund opened 4 new positions and exited 21 — including a new stake in $FRBT and a full exit from $V. The portfolio is most concentrated in Financials (84.0% of disclosed assets). All figures are sourced directly from North Reef Capital Management LP’s Form 13F-HR filing with the SEC under CIK 1867831.

• 

  MARKETAXESS HOLDINGS INC

  $MKTX

  63.1#658

  Quality

  $385.3M3,395,000 sh
• 

  Ameris Bancorp

  $ABCB

  59.8#908

  Quality

  $246.6M2,732,243 sh
• 

  FIRST HORIZON CORP

  $FHN

  56.4#1,171

  Quality

  $235.9M9,201,256 sh
• 

  KEYCORP /NEW/

  $KEY

  70.8

  Quality

  $190.2M8,250,000 sh
• 

  ALKAMI TECHNOLOGY, INC.

  $ALKT

  38.6

  Quality

  $167.2M9,225,000 sh
• 

  SEACOAST BANKING CORP OF FLORIDA

  $SBCF

  62.0

  Quality

  $158.8M4,775,000 sh
• 

  Atlantic Union Bankshares Corp

  $AUB

  73.1

  Quality

  $150.8M3,565,000 sh
• 

  Central Bancompany, Inc.

  $CBC

  61.2

  Quality

  $139.7M4,600,000 sh
• 

  ACI WORLDWIDE, INC.

  $ACIW

  66.3

  Quality

  $131.6M2,617,000 sh
• 

  PIPER SANDLER COMPANIES

  $PIPR

  72.6

  Quality

  $97.7M1,350,000 sh

Company	Quality	Value	Shares
MARKETAXESS HOLDINGS INC$MKTX	63.1#658	$385.3M	3,395,000
Ameris Bancorp$ABCB	59.8#908	$246.6M	2,732,243
FIRST HORIZON CORP$FHN	56.4#1,171	$235.9M	9,201,256
KEYCORP /NEW/$KEY	70.8	$190.2M	8,250,000
ALKAMI TECHNOLOGY, INC.$ALKT	38.6	$167.2M	9,225,000
SEACOAST BANKING CORP OF FLORIDA$SBCF	62.0	$158.8M	4,775,000
Atlantic Union Bankshares Corp$AUB	73.1	$150.8M	3,565,000
Central Bancompany, Inc.$CBC	61.2	$139.7M	4,600,000
ACI WORLDWIDE, INC.$ACIW	66.3	$131.6M	2,617,000
PIPER SANDLER COMPANIES$PIPR	72.6	$97.7M	1,350,000

Showing top 10 of 43 holdings.

Full Holdings — North Reef Capital Management LP (Q2 2026)

All 43 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	$MKTX	MARKETAXESS HOLDINGS INC	$385.3M	14.8%	+81%	63.1
2	$ABCB	Ameris Bancorp	$246.6M	9.5%	-20%	59.8
3	$FHN	FIRST HORIZON CORP	$235.9M	9.1%	-36%	56.4
4	$KEY	KEYCORP /NEW/	$190.2M	7.3%	-35%	70.8
5	$ALKT	ALKAMI TECHNOLOGY, INC.	$167.2M	6.4%	+21%	38.6
6	$SBCF	SEACOAST BANKING CORP OF FLORIDA	$158.8M	6.1%	-18%	62
7	$AUB	Atlantic Union Bankshares Corp	$150.8M	5.8%	-17%	73.1
8	$CBC	Central Bancompany, Inc.	$139.7M	5.4%	+13%	61.2
9	$ACIW	ACI WORLDWIDE, INC.	$131.6M	5.0%	+17%	66.3
10	$PIPR	PIPER SANDLER COMPANIES	$97.7M	3.7%	+40%	72.6
11	$PNFP	Pinnacle Financial Partners, Inc.	$73.8M	2.8%	+625%	54.5
12	$TRMK	TRUSTMARK CORP	$72.0M	2.8%	-20%	66.8
13	$NTRS	NORTHERN TRUST CORP	$60.0M	2.3%	+16%	65.2
14	$EGBN	EAGLE BANCORP INC	$48.6M	1.9%	-37%	24.5
15	$AMTB	Amerant Bancorp Inc.	$47.4M	1.8%	+60%	48.7
16	$FLG	FLAGSTAR BANK, NATIONAL ASSOCIATION	$45.6M	1.8%	+9%	37.6
17	$GPN	GLOBAL PAYMENTS INC	$42.1M	1.6%	+480%	47
18	$TCBK	TRICO BANCSHARES /	$35.9M	1.4%	+79%	50.8
19	$MQ	Marqeta, Inc.	$32.1M	1.2%	+7%	54.9
20	$MYFW	First Western Financial Inc	$23.8M	0.9%	+4%	52
21	$IIIV	i3 Verticals, Inc.	$23.0M	0.9%	+5%	44
22	$WLTH	WEALTHFRONT CORP	$21.9M	0.8%	-15%	40
23	$FRST	Primis Financial Corp.	$20.1M	0.8%	+8%	65.8
24	$NBHC	National Bank Holdings Corp	$19.4M	0.7%	+36%	43.8
25	$BANR	BANNER CORP	$17.3M	0.7%	+33%	—
26	$SCHW	SCHWAB CHARLES CORP	$16.1M	0.6%	-50%	79.4
27	$PAY	Paymentus Holdings, Inc.	$14.5M	0.6%	-18%	69.6
28	$FRBT	Forbright, Inc.	$11.9M	0.5%	NEW	—
29	$JCAP	Jefferson Capital, Inc. / DE	$10.3M	0.4%	-0%	57.6
30	$COSO	CoastalSouth Bancshares, Inc.	$10.0M	0.4%	+16%	44.5
31	$PB	PROSPERITY BANCSHARES INC	$9.5M	0.4%	-88%	61.7
32	$MIAX	MIAMI INTERNATIONAL HOLDINGS, INC.	$9.3M	0.4%	-75%	66.3
33	$FLYW	Flywire Corp	$7.9M	0.3%	-59%	66.9
34	$GCMG	GCM Grosvenor Inc.	$7.8M	0.3%	+0%	56.4
35	$SMBK	SMARTFINANCIAL INC.	$6.4M	0.3%	+0%	62.3
36	$AAMI	Acadian Asset Management Inc.	$6.2M	0.2%	-61%	72.1
37	$SFNC	SIMMONS FIRST NATIONAL CORP	$3.4M	0.1%	NEW	12.6
38	$NEWT	NewtekOne, Inc.	$2.3M	0.1%	-22%	62.2
39	$NPB	NORTHPOINTE BANCSHARES INC	$1.9M	0.1%	-57%	62.3
40	$IBOC	INTERNATIONAL BANCSHARES CORP	$1.9M	0.1%	NEW	56.5
41	$BOTJ	BANK OF THE JAMES FINANCIAL GROUP INC	$1.3M	0.1%	NEW	54.4
42	$GEMI	Gemini Space Station, Inc.	$426,004	0.0%	+101%	38.5
43	$UWMC	UWM Holdings Corp	$229,000	0.0%	-72%	55.3