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BANC FUNDS CO LLC — 13F Holdings & Portfolio

CIK 1029311 · latest 13F-HR filed 2026-08-13

Backtest portfolio

BANC FUNDS CO LLC manages $605.5M in 13F-reported U.S. long-equity assets across 92 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are OSBC (3.98%), PBAM (3.84%), AVBH (3.64%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 5 new positions, exited 10, added to 68, and trimmed 9.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

Filer Information
Address
150 S. WACKER DRIVE
SUITE 2725
CHICAGO, IL 60606
Phone
(312) 855-4067
Filing Manager
BANC FUNDS CO LLC
CHICAGO, IL
Signatory
JOHN M BAKER
MEMBER, GENERAL PARTNER
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AUM

$605.5M

Long-equity book

Holdings

92

Distinct positions

Period

2026-06-30

Filed 2026-08-13

Q/Q Activity

+5 / −10 / ↑68 / ↓9

vs 2026-03-31

Firm Profile & Key People
Name Title / Status Ownership Type

Top Adds (vs prior quarter)

  • Old Second Bancorp, Inc.$3.4M +16.2%
  • Peapack-Gladstone Financial Corporation$3.3M +34.4%
  • Avidbank Holdings, Inc.$3.1M +16.4%
  • FirstSun Capital Bancorp$3.1M +50.3%
  • Primis Financial Corporation$2.7M +23.3%
Show all 68 →

Top Trims

  • SmartFinancial, Inc.-$1.3M -21.9%
  • Blue Ridge Bankshares, Inc.-$1.3M -16.0%
  • Bancorp 34, Inc.-$645.8K -40.4%
  • Shore Bancshares, Inc.-$526.3K -14.4%
  • First National Corporation-$387.8K -29.2%
Show all 9 →

New Positions

  • First Carolina Financial Services, Inc.$17.7M
  • Community West Bancshares$6.5M
  • Burke & Herbert Financial Services$5.9M
  • Home BancShares, Inc.$3.2M
  • Stock Yards Bancorp, Inc.$764.7K
Show all 5 →

Exited Positions

  • Mountain Commerce Bancorp$8.0M
  • United Security Bankshares$5.6M
  • Commerce Bancshares, Inc. MO$4.3M
  • First Northern Community Bancorp$3.7M
  • LinkBancorp$3.3M
Show all 10 →
All Holdings

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 Old Second Bancorp, Inc. OSBC 680277100 $24.1M 3.98% 1,034,143 SH
2 Private Bancorp of America, Inc. PBAM 74274F100 $23.2M 3.84% 313,859 SH
3 Avidbank Holdings, Inc. AVBH 05368J103 $22.1M 3.64% 668,100 SH
4 Unity Bancorp, Inc. UNTY 913290102 $21.7M 3.59% 370,469 SH
5 First Carolina Financial Services, Inc. FCBM 31943F200 $17.7M 2.93% 1,338,750 SH
6 California BanCorp. BCAL 84252A106 $17.0M 2.81% 816,155 SH
7 American Business Bank ARBU 02475L105 $16.7M 2.75% 229,173 SH
8 First Bank FRBA 31931U102 $15.3M 2.53% 864,205 SH
9 West Coast Community Bancorp PWBK 952170108 $15.1M 2.49% 301,420 SH
10 Metropolitan Bank Holding Corp. MCB 591774104 $14.5M 2.40% 147,221 SH
11 Primis Financial Corporation FRST 74167B109 $14.3M 2.36% 872,961 SH
12 Merchants Bancorp MBIN 58844R108 $14.3M 2.35% 285,062 SH
13 MainStreet Bancshares, Inc. MNSB 56064Y100 $13.5M 2.23% 545,679 SH
14 Peapack-Gladstone Financial Corporation PGC 704699107 $13.0M 2.14% 273,947 SH
15 Texas Capital Bancshares, Inc. TCBI 88224Q107 $12.4M 2.04% 119,762 SH
16 First Western Financial, Inc. MYFW 33751L105 $11.0M 1.82% 342,404 SH
17 Alerus Financial Corporation ALRS 01446U103 $10.9M 1.79% 349,165 SH
18 Banc of California, Inc. BANC 05990K106 $10.6M 1.75% 519,738 SH
19 ConnectOne Bancorp, Inc. CNOB 20786W107 $10.4M 1.71% 310,195 SH
20 First Business Financial Services, Inc. FBIZ 319390100 $10.3M 1.70% 163,224 SH
21 Southern First Bancshares, Inc. SFST 842873101 $9.9M 1.64% 162,655 SH
22 Alpine Banks of Colorado I:BANK 020810107 $9.8M 1.62% 204,321 SH
23 FirstSun Capital Bancorp FSUN 33767U107 $9.2M 1.52% 238,031 SH
24 Investar Holding Corporation ISTR 46134L105 $9.2M 1.52% 306,896 SH
25 Triumph Bancorp, Inc. TFIN 89679E300 $8.9M 1.48% 117,136 SH
26 Colony Bankcorp Inc. CBAN 19623P101 $8.9M 1.46% 441,478 SH
27 Coastal Carolina Bancshares, Inc. CCNB 190435107 $8.3M 1.37% 492,071 SH
28 Meridian Bank MRBK 58958P104 $7.7M 1.27% 382,533 SH
29 Mercantile Bank Corporation MBWM 587376104 $7.5M 1.24% 131,160 SH
30 CNB Financial Corporation CCNE 126128107 $7.5M 1.24% 222,375 SH
31 Mid Penn Bank MPB 59540G107 $7.2M 1.20% 207,982 SH
32 Business First Bancshares, Inc. BFST 12326C105 $7.2M 1.19% 234,257 SH
33 Orange County Bancorp, Inc. OBT 68417L107 $6.8M 1.13% 186,035 SH
34 Third Coast Bancshares TCBX 88422P109 $6.8M 1.13% 169,064 SH
35 Blue Ridge Bankshares, Inc. BRBS 095825105 $6.7M 1.10% 1,889,033 SH
36 Community West Bancshares CWBC 204157101 $6.5M 1.07% 240,606 SH
37 Bank7 Corp BSVN 06652N107 $6.3M 1.04% 128,519 SH
38 Burke & Herbert Financial Services BHRB 12135Y108 $5.9M 0.98% 82,374 SH
39 Princeton Bancorp, Inc. BPRN 74179A107 $5.8M 0.96% 153,926 SH
40 Studio Bank I:BANK 864001102 $5.6M 0.93% 429,056 SH
41 River City Bank RCBC 76803X106 $5.6M 0.92% 128,354 SH
42 First Reliance Bancshares, Inc. FCNCA 33615Q100 $5.5M 0.91% 297,472 SH
43 Bankwell Financial Group, Inc. BWFG 06654A103 $5.3M 0.88% 90,423 SH
44 Bank of San Francisco BSFO 064774102 $5.1M 0.84% 117,072 SH
45 White River Bancshares Company WRIV 96445A108 $4.9M 0.80% 89,000 SH
46 SmartFinancial, Inc. SMBK 83190L208 $4.6M 0.76% 97,626 SH
47 Citizens Community Bancorp, Inc. CZWI 174903104 $4.6M 0.75% 195,055 SH
48 First Internet Bancorp INBK 320557101 $4.5M 0.74% 162,176 SH
49 South Atlantic Bancshares, Inc. SABK 83636T104 $4.5M 0.74% 175,596 SH
50 Community Heritage Financial Inc. CMHF 20370L103 $4.5M 0.74% 125,424 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-13 $605.5M 92 0001029311-26-000048
2026-03-31 2026-05-14 $537.2M 97 0001029311-26-000046
2025-12-31 2026-02-12 $505.2M 98 0001029311-26-000002
2025-09-30 2025-11-14 $572.0M 111 0001029311-25-000015