Q2 2025 · 13F-HR
North Reef Capital Management LPholdings as filed
Filed 2025-08-14 · accession 0001214659-25-012175
$2.26B
Reported value
40
Positions
2025-06-30
Period end
The Brief · North Reef Capital Management LP · Q2 2025
AI · grounded in 13F
North Reef Capital Management LP established a new position in First Horizon Corporation FHN valued at $266.6M. The fund also initiated new stakes in Comerica Inc CMA for $249M and Synovus Finl Corp SYU1 for $185M. Additional new positions include Seacoast Bkg Corp Fla SBCF and Texas Cap Bancshares Inc TCBI.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 320517105 | FHN | FIRST HORIZON CORPORATION | $266.6M | 11.8% | 12,575,000 | Common | SOLE |
| 200340107 | CMA | COMERICA INC | $249.0M | 11.0% | 4,175,000 | Common | SOLE |
| 87161C501 | SYU1 | SYNOVUS FINL CORP | $185.0M | 8.20% | 3,575,000 | Common | SOLE |
| 811707801 | SBCF | SEACOAST BKG CORP FLA | $158.8M | 7.04% | 5,750,000 | Common | SOLE |
| 88224Q107 | TCBI | TEXAS CAP BANCSHARES INC | $157.6M | 6.99% | 1,984,977 | Common | SOLE |
| 72346Q104 | — | PINNACLE FINL PARTNERS INC | $128.6M | 5.70% | 1,165,000 | Common | SOLE |
| 03076K108 | ABCB | AMERIS BANCORP | $122.3M | 5.42% | 1,890,018 | Common | SOLE |
| 949746101 | WMT2 | WELLS FARGO CO NEW | $118.2M | 5.24% | 1,475,000 | Common | SOLE |
| 004498101 | ACIW | ACI WORLDWIDE INC | $116.6M | 5.17% | 2,540,000 | Common | SOLE |
| 57060D108 | MKTX | MARKETAXESS HLDGS INC | $93.8M | 4.16% | 420,000 | Common | SOLE |
| 04911A107 | AUB | ATLANTIC UN BANKSHARES CORP | $86.0M | 3.81% | 2,750,000 | Common | SOLE |
| 74736L109 | QTWO | Q2 HLDGS INC | $78.7M | 3.49% | 840,520 | Common | SOLE |
| 724078100 | 62C | PIPER SANDLER COMPANIES | $63.9M | 2.83% | 230,000 | Common | SOLE |
| 92826C839 | V | VISA INC | $49.7M | 2.20% | 140,000 | Common | SOLE |
| 858927106 | STEL | STELLAR BANCORP INC | $43.1M | 1.91% | 1,540,000 | Common | SOLE |
| 32026V104 | FFWM | FIRST FNDTN INC | $38.8M | 1.72% | 7,615,000 | Common | SOLE |
| 172967424 | C | CITIGROUP INC | $38.3M | 1.70% | 450,000 | Common | SOLE |
| 57142B104 | MQ | MARQETA INC | $37.9M | 1.68% | 6,500,000 | Common | SOLE |
| 432748101 | HTH | HILLTOP HOLDINGS INC | $36.0M | 1.59% | 1,185,000 | Common | SOLE |
| 665859104 | NTRS | NORTHERN TR CORP | $23.5M | 1.04% | 185,000 | Common | SOLE |
| 10948W103 | AAMI | ACADIAN ASSET MANAGEMENT INC | $16.9M | 0.75% | 480,000 | Common | SOLE |
| 89832Q109 | TFC | TRUIST FINL CORP | $14.0M | 0.62% | 325,000 | Common | SOLE |
| 063425102 | BMRC | BANK MARIN BANCORP | $13.7M | 0.61% | 600,000 | Common | SOLE |
| 808513105 | SCHW | SCHWAB CHARLES CORP | $13.7M | 0.61% | 150,000 | Common | SOLE |
| 302492103 | FLYW | FLYWIRE CORPORATION | $12.9M | 0.57% | 1,100,000 | Common | SOLE |
| 03062T105 | CRMT | AMERICAS CAR-MART INC | $12.7M | 0.56% | 226,045 | Common | SOLE |
| 33751L105 | MYFW | FIRST WESTN FINL INC | $12.3M | 0.55% | 545,722 | Common | SOLE |
| 62886E108 | VYX | NCR VOYIX CORPORATION | $10.6M | 0.47% | 900,001 | Common | SOLE |
| 060505104 | BAC | BANK AMERICA CORP | $9.5M | 0.42% | 200,000 | Common | SOLE |
| 66661N886 | NPB | NORTHPOINTE BANCSHARES INC. | $8.2M | 0.37% | 601,344 | Common | SOLE |
| 268948106 | EGBN | EAGLE BANCORP INC MD | $7.8M | 0.35% | 400,000 | Common | SOLE |
| 36831E108 | GCMG | GCM GROSVENOR INC | $6.1M | 0.27% | 530,196 | Common | SOLE |
| 095825105 | BRBS | BLUE RIDGE BANKSHARES INC VA | $5.4M | 0.24% | 1,515,107 | Common | SOLE |
| 47248R103 | JCAP | JEFFERSON CAPITAL INC | $4.6M | 0.20% | 250,000 | Common | SOLE |
| 01644J108 | ALKT | ALKAMI TECHNOLOGY INC | $4.2M | 0.19% | 139,413 | Common | SOLE |
| 923451108 | VBTX | VERITEX HLDGS INC | $3.4M | 0.15% | 130,187 | Common | SOLE |
| 70450Y103 | PYPL | PAYPAL HLDGS INC | $3.3M | 0.15% | 45,000 | Common | SOLE |
| 82452J109 | FOUR | SHIFT4 PMTS INC | $2.5M | 0.11% | 25,000 | Common | SOLE |
| 83190L208 | SMBK | SMARTFINANCIAL INC | $1.6M | 0.07% | 46,104 | Common | SOLE |
| 400764106 | GNTYUSD | GUARANTY BANCSHARES INC TEX | $424,400 | 0.02% | 10,000 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.