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BANC FUNDS CO LLC — 13F Holdings & Portfolio

CIK 1029311 · latest 13F-HR filed 2026-05-14

Backtest portfolio

BANC FUNDS CO LLC manages $537.2M in 13F-reported U.S. long-equity assets across 97 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are Private Bancorp of America, Inc. (3.92%), OSBC (3.86%), UNTY (3.62%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 5 new positions, exited 6, added to 41, and trimmed 20.

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.

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AUM

$537.2M

Long-equity book

Holdings

97

Distinct positions

Period

2026-03-31

Filed 2026-05-14

Q/Q Activity

+5 / −6 / ↑41 / ↓20

vs 2025-12-31

Firm Profile & Key People
Name Title / Status Ownership Type

Top Adds (vs prior quarter)

  • Private Bancorp of America, Inc.$4.7M +29.1%
  • Merchants Bancorp$3.7M +44.8%
  • Alerus Financial Corporation$3.4M +71.0%
  • MainStreet Bancshares, Inc.$3.2M +37.2%
  • Avidbank Holdings, Inc.$3.1M +19.7%
Show all 41 →

Top Trims

  • FB Financial Corp.-$5.6M -75.2%
  • SmartFinancial, Inc.-$1.6M -20.9%
  • Banc of California, Inc.-$888.8K -8.9%
  • First Community Corporation-$748.1K -61.1%
  • Blue Ridge Bankshares, Inc.-$730.0K -8.4%
Show all 20 →

New Positions

  • Bank of San Francisco$4.3M
  • Commerce Bancshares, Inc. MO$4.3M
  • Pinnacle Financial Partners Inc.$1.9M
  • TowneBank$1.4M
  • Lake Ridge Bancorp$920.9K
Show all 5 →

Exited Positions

  • FineMark Holdings, Inc.$8.4M
  • Prime Meridian Holding Company$4.3M
  • United Bancorporation of Alabama, Inc.$2.0M
  • Dogwood State Bank$1.9M
  • Bank of Botetourt$726.2K
Show all 6 →
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 Private Bancorp of America, Inc. — 74274F100 $21.1M 3.92% 309,859 SH
2 Old Second Bancorp, Inc. OSBC 680277100 $20.7M 3.86% 1,029,143 SH
3 Unity Bancorp, Inc. UNTY 913290102 $19.5M 3.62% 375,469 SH
4 Avidbank Holdings, Inc. AVBH 05368J103 $19.0M 3.53% 665,100 SH
5 American Business Bank ARBU 02475L105 $17.4M 3.25% 245,773 SH
6 California BanCorp. BCAL 84252A106 $14.7M 2.74% 831,155 SH
7 First Bank FRBA 31931U102 $13.8M 2.57% 864,205 SH
8 West Coast Community Bancorp PWBK 952170108 $13.1M 2.45% 276,651 SH
9 Merchants Bancorp MBIN 58844R108 $12.1M 2.25% 281,062 SH
10 Metropolitan Bank Holding Corp. MCB 591774104 $11.8M 2.21% 142,221 SH
11 MainStreet Bancshares, Inc. MNSB 56064Y100 $11.8M 2.19% 530,941 SH
12 Primis Financial Corporation FRST 74167B109 $11.6M 2.16% 872,961 SH
13 Texas Capital Bancshares, Inc. TCBI 88224Q107 $11.4M 2.12% 119,762 SH
14 Alpine Banks of Colorado I:BANK 020810107 $9.8M 1.82% 204,321 SH
15 Peapack-Gladstone Financial Corporation PGC 704699107 $9.6M 1.80% 273,947 SH
16 Southern First Bancshares, Inc. SFST 842873101 $9.4M 1.74% 171,655 SH
17 Banc of California, Inc. BANC 05990K106 $9.1M 1.70% 519,738 SH
18 First Business Financial Services, Inc. FBIZ 319390100 $9.0M 1.67% 166,224 SH
19 First Western Financial, Inc. MYFW 33751L105 $8.6M 1.59% 348,404 SH
20 Colony Bankcorp Inc. CBAN 19623P101 $8.4M 1.56% 419,478 SH
21 ConnectOne Bancorp, Inc. CNOB 20786W107 $8.3M 1.55% 310,195 SH
22 Alerus Financial Corporation ALRS 01446U103 $8.3M 1.54% 349,165 SH
23 Investar Holding Corporation ISTR 46134L105 $8.2M 1.53% 306,896 SH
24 Mountain Commerce Bancorp MPCB 624004107 $8.0M 1.49% 351,330 SH
25 Blue Ridge Bankshares, Inc. BRBS 095825105 $7.9M 1.48% 1,889,033 SH
26 Meridian Bank MRBK 58958P104 $7.0M 1.30% 369,333 SH
27 Triumph Bancorp, Inc. TFIN 89679E300 $7.0M 1.30% 117,136 SH
28 Mid Penn Bank MPB 59540G107 $6.7M 1.25% 207,982 SH
29 Mercantile Bank Corporation MBWM 587376104 $6.6M 1.23% 131,160 SH
30 Coastal Carolina Bancshares, Inc. CCNB 190435107 $6.5M 1.21% 466,771 SH
31 CNB Financial Corporation CCNE 126128107 $6.4M 1.20% 222,375 SH
32 Third Coast Bancshares TCBX 88422P109 $6.4M 1.19% 169,064 SH
33 Business First Bancshares, Inc. BFST 12326C105 $6.3M 1.18% 234,257 SH
34 Orange County Bancorp, Inc. OBT 68417L107 $6.3M 1.18% 197,536 SH
35 FirstSun Capital Bancorp FSUN 33767U107 $6.1M 1.14% 168,489 SH
36 SmartFinancial, Inc. SMBK 83190L208 $5.9M 1.09% 150,087 SH
37 United Security Bankshares UBFO 911460103 $5.6M 1.04% 532,316 SH
38 Princeton Bancorp, Inc. BPRN 74179A107 $5.2M 0.97% 153,926 SH
39 Studio Bank I:BANK 864001102 $5.2M 0.97% 429,056 SH
40 Bank7 Corp BSVN 06652N107 $5.1M 0.95% 128,519 SH
41 First Reliance Bancshares, Inc. FIBH 33615Q100 $4.7M 0.88% 341,313 SH
42 White River Bancshares Company WRIV 96445A108 $4.7M 0.88% 89,000 SH
43 Bankwell Financial Group, Inc. BWFG 06654A103 $4.7M 0.87% 96,423 SH
44 First Capital Bancshares, Inc. FCAP 31941G101 $4.4M 0.81% 358,995 SH
45 Bank of San Francisco BSFO 064774102 $4.3M 0.80% 115,072 SH
46 Commerce Bancshares, Inc. MO CBSH 200525103 $4.3M 0.79% 86,774 SH
47 River City Bank RCBC 76803X106 $4.3M 0.79% 101,590 SH
48 Citizens Community Bancorp, Inc. CZWI 174903104 $4.1M 0.76% 206,055 SH
49 South Atlantic Bancshares, Inc. SABK 83636T104 $4.1M 0.76% 179,396 SH
50 Oregon Pacific Bancorp ORBN 686040205 $4.0M 0.74% 361,932 SH
Filing History
Period Filed AUM Holdings Accession
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