North Reef Capital Management LP
13F Reported Value
ⓘ$2.9B
Holdings
60
Latest Filing
2026-03-31
Filing Quarter
Q1 2026
Portfolio Overview
North Reef Capital Management LP disclosed 60 positions worth $2.9B in its Form 13F-HR for Q1 2026, led by $FHN (FIRST HORIZON CORP) at 11.3% of the equity portfolio, followed by $MKTX and $ABCB. During the quarter the fund opened 17 new positions and exited 13 — including a new stake in $KEY and a full exit from $COLB. The portfolio is most concentrated in Financials (87.0% 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.
AI Fund Analysis
ConcentratingSector Allocation
AUM History
Top Equity Holdings by Value
Quarterly Activity — Q1 2026
Click any card to unlockTop Holdings
- 43.8#1,802
Quality
$329.0M14,453,208 sh - 68.6#409
Quality
$309.3M1,875,000 sh - —
Quality
$267.0M3,423,243 sh - 70.4
Quality
$253.6M12,650,000 sh - $176.4M5,825,000 sh
- —
Quality
$153.1M4,285,000 sh - 46.1
Quality
$119.9M7,650,000 sh - 83.5
Quality
$108.8M360,000 sh - —
Quality
$97.6M4,075,000 sh - 65.5
Quality
$91.5M2,230,000 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
 FIRST HORIZON CORP$FHN | 43.8#1,802 | $329.0M | 14,453,208 |
 MARKETAXESS HOLDINGS INC$MKTX | 68.6#409 | $309.3M | 1,875,000 |
 Ameris Bancorp$ABCB | — | $267.0M | 3,423,243 |
 KEYCORP /NEW/$KEY | 70.4 | $253.6M | 12,650,000 |
 SEACOAST BANKING CORP OF FLORIDA$SBCF | — | $176.4M | 5,825,000 |
 Atlantic Union Bankshares Corp$AUB | — | $153.1M | 4,285,000 |
 ALKAMI TECHNOLOGY, INC.$ALKT | 46.1 | $119.9M | 7,650,000 |
 VISA INC.$V | 83.5 | $108.8M | 360,000 |
 Central Bancompany, Inc.$CBC | — | $97.6M | 4,075,000 |
 ACI WORLDWIDE, INC.$ACIW | 65.5 | $91.5M | 2,230,000 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of North Reef Capital Management LP's 60 positions.
Showing top 10 of 60 holdings.
Sector Allocation
Financials
$2.5B
Technology
$298.9M
Industrials
$74.5M
Consumer Discretionary
$3.3M
Full Holdings — North Reef Capital Management LP (Q1 2026)
All 60 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 | $FHN | FIRST HORIZON CORP | $329.0M | 11.3% | +25% | 43.8 |
| 2 | $MKTX | MARKETAXESS HOLDINGS INC | $309.3M | 10.7% | +17% | 68.6 |
| 3 | $ABCB | Ameris Bancorp | $267.0M | 9.2% | +25% | — |
| 4 | $KEY | KEYCORP /NEW/ | $253.6M | 8.7% | NEW | 70.4 |
| 5 | $SBCF | SEACOAST BANKING CORP OF FLORIDA | $176.4M | 6.1% | -0% | — |
| 6 | $AUB | Atlantic Union Bankshares Corp | $153.1M | 5.3% | -6% | — |
| 7 | $ALKT | ALKAMI TECHNOLOGY, INC. | $119.9M | 4.1% | +264% | 46.1 |
| 8 | $V | VISA INC. | $108.8M | 3.7% | +33% | 83.5 |
| 9 | $CBC | Central Bancompany, Inc. | $97.6M | 3.4% | +211% | — |
| 10 | $ACIW | ACI WORLDWIDE, INC. | $91.5M | 3.1% | +13% | 65.5 |
| 11 |  $TRMK | TRUSTMARK CORP | $82.3M | 2.8% | NEW | — |
| 12 |  $PB | PROSPERITY BANCSHARES INC | $74.4M | 2.6% | +149% | — |
| 13 |  $PIPR | PIPER SANDLER COMPANIES | $73.8M | 2.5% | +371% | 64.4 |
| 14 |  $EGBN | EAGLE BANCORP INC | $67.3M | 2.3% | -8% | — |
| 15 |  $NTRS | NORTHERN TRUST CORP | $41.7M | 1.4% | -4% | 71.8 |
| 16 |  $TW | Tradeweb Markets Inc. | $39.7M | 1.4% | +7% | 80.9 |
| 17 |  $MIAX | MIAMI INTERNATIONAL HOLDINGS, INC. | $39.5M | 1.4% | -20% | — |
| 18 |  $FLG | FLAGSTAR BANK, NATIONAL ASSOCIATION | $36.7M | 1.3% | NEW | — |
| 19 |  $FIS | Fidelity National Information Services, Inc. | $36.4M | 1.3% | NEW | 69.6 |
| 20 |  $FFWM | First Foundation Inc. | $34.9M | 1.2% | -24% | 25.6 |
| 21 |  $SCHW | SCHWAB CHARLES CORP | $32.9M | 1.1% | NEW | 77.2 |
| 22 |  $MQ | Marqeta, Inc. | $30.2M | 1.0% | +23% | 40.2 |
| 23 |  $QTWO | Q2 Holdings, Inc. | $29.4M | 1.0% | -49% | 62.4 |
| 24 |  $WLTH | WEALTHFRONT CORP | $26.7M | 0.9% | +135% | — |
| 25 |  $BANC | BANC OF CALIFORNIA, INC. | $26.4M | 0.9% | +30% | 68.3 |
| 26 |  $FBK | FB Financial Corp | $26.0M | 0.9% | -44% | — |
| 27 |  $AMTB | Amerant Bancorp Inc. | $25.6M | 0.9% | NEW | — |
| 28 |  $RJF | RAYMOND JAMES FINANCIAL INC | $23.0M | 0.8% | NEW | 63.8 |
| 29 |  $IIIV | i3 Verticals, Inc. | $22.9M | 0.8% | +1254% | 46.1 |
| 30 |  $PAY | Paymentus Holdings, Inc. | $18.7M | 0.6% | NEW | 70.2 |
| 31 |  $TCBK | TRICO BANCSHARES / | $17.7M | 0.6% | -23% | 57.8 |
| 32 |  $MYFW | First Western Financial Inc | $17.6M | 0.6% | +4% | 53.1 |
| 33 |  $AXP | AMERICAN EXPRESS CO | $15.1M | 0.5% | NEW | 73.2 |
| 34 |  $FRST | Primis Financial Corp. | $15.1M | 0.5% | -6% | — |
| 35 |  $FLYW | Flywire Corp | $12.8M | 0.4% | +83% | 56.2 |
| 36 |  $NBHC | National Bank Holdings Corp | $12.5M | 0.4% | NEW | 53.3 |
| 37 |  $AAMI | Acadian Asset Management Inc. | $12.0M | 0.4% | -50% | 62.2 |
| 38 |  $BANR | BANNER CORP | $11.9M | 0.4% | NEW | — |
| 39 |  $FIBK | FIRST INTERSTATE BANCSYSTEM INC | $10.9M | 0.4% | -84% | — |
| 40 |  $JCAP | Jefferson Capital, Inc. / DE | $10.2M | 0.3% | +122% | 46.6 |
| 41 |  $PNFP | Pinnacle Financial Partners, Inc. | $8.7M | 0.3% | NEW | — |
| 42 |  $COSO | CoastalSouth Bancshares, Inc. | $7.9M | 0.3% | +22% | 43.1 |
| 43 |  $GPN | GLOBAL PAYMENTS INC | $6.7M | 0.2% | NEW | 42.9 |
| 44 |  $GCMG | GCM Grosvenor Inc. | $6.2M | 0.2% | +5% | 59 |
| 45 |  $SMBK | SMARTFINANCIAL INC. | $5.4M | 0.2% | +2% | — |
| 46 |  $VYX | NCR Voyix Corp | $5.1M | 0.2% | -4% | 30.5 |
| 47 |  $SF | STIFEL FINANCIAL CORP | $4.2M | 0.1% | NEW | 69.6 |
| 48 |  $FIGR | Figure Technology Solutions, Inc. | $4.1M | 0.1% | -4% | — |
| 49 |  $NPB | NORTHPOINTE BANCSHARES INC | $4.0M | 0.1% | -10% | — |
| 50 |  $AVBH | Avidbank Holdings, Inc. | $3.5M | 0.1% | -1% | — |
| 51 |  $COF | CAPITAL ONE FINANCIAL CORP | $3.4M | 0.1% | NEW | 71 |
| 52 |  $CRMT | AMERICAS CARMART INC | $3.3M | 0.1% | +7% | 40 |
| 53 |  $KLAR | Klarna Group plc | $2.9M | 0.1% | +40% | — |
| 54 |  $USCB | USCB FINANCIAL HOLDINGS, INC. | $2.4M | 0.1% | +4% | — |
| 55 |  $NEWT | NewtekOne, Inc. | $2.2M | 0.1% | -49% | — |
| 56 |  $CVBF | CVB FINANCIAL CORP | $1.9M | 0.1% | -4% | — |
| 57 |  $RBB | RBB Bancorp | $1.4M | 0.1% | NEW | 56 |
| 58 |  $UWMC | UWM Holdings Corp | $1.3M | 0.0% | NEW | 49.4 |
| 59 |  $RNST | RENASANT CORP | $539,168 | 0.0% | -1% | — |
| 60 |  $GEMI | Gemini Space Station, Inc. | $219,842 | 0.0% | -83% | — |
New Positions (17)
$KEY KEYCORP /NEW/$253.6M$TRMK TRUSTMARK CORP$82.3M$FLG FLAGSTAR BANK, NATIONAL ASSOCIATION$36.7M$FIS Fidelity National Information Services, Inc.$36.4M$SCHW SCHWAB CHARLES CORP$32.9M$AMTB Amerant Bancorp Inc.$25.6M$RJF RAYMOND JAMES FINANCIAL INC$23.0M$PAY Paymentus Holdings, Inc.$18.7M$AXP AMERICAN EXPRESS CO$15.1M$NBHC National Bank Holdings Corp$12.5M$BANR BANNER CORP$11.9M$PNFP Pinnacle Financial Partners, Inc.$8.7M$GPN GLOBAL PAYMENTS INC$6.7M$SF STIFEL FINANCIAL CORP$4.2M$COF CAPITAL ONE FINANCIAL CORP$3.4MExited Positions (13)
$COLB COLUMBIA BANKING SYSTEM, INC.
$STEL Stellar Bancorp, Inc.
$FITB FIFTH THIRD BANCORP
$TFC TRUIST FINANCIAL CORP
$EBC Eastern Bankshares, Inc.
$FOUR Shift4 Payments, Inc.
$SSB SouthState Bank Corp
$MRX Marex Group Ltd
$JHG Janus Henderson Group Ltd.
$TCBI TEXAS CAPITAL BANCSHARES INC/TX
$BLSH Bullish
$FFIC FLUSHING FINANCIAL CORP
$BBT Beacon Financial CorpBrowse Top Institutional Investors
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