BANC FUNDS CO LLC — 13F Holdings & Portfolio

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

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 and exited 10; 68 existing positions rose in reported value and 9 fell.

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.

AUM

$605.5M

Long-equity book

Holdings

Distinct positions

Period

2026-06-30

Filed 2026-08-13

Q/Q Activity

+5 / −10 / ↑68 / ↓9

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26

OSBC4.0% · +0%PBAM3.8% · +1%AVBH3.6% · +0%UNTY3.6% · -1%FCBM2.9% · new BCAL2.8% · -2%American Business2.8% · newPWBK2.7% · +7%I:BANK2.6% · 0%FRBA2.5% · 0%MCB2.4% · +4%FRST2.4% · 0%MBIN2.4% · +1%MNSB2.2% · +3%PGC2.1% · 0%TCBI2.0% · 0%MYFW1.8% · -2%ALRS1.8% · 0%BANC1.8% · -2%CNOB1.7% · 0%FBIZ1.7% · -2%SFST1.6% · -5%FSUN1.5% · +41%ISTR1.5% · 0%TFIN1.5% · 0%CBAN1.5% · +5%CCNB1.4% · +5%MRBK1.3% · +4%MBWM1.2% · 0%CCNE1.2% · 0%MPB1.2% · 0%BFST1.2% · 0%OBT1.1% · -6%TCBX1.1% · 0%BRBS1.1% · 0%CWBC1.1% · new BSVN1.0% · 0%BHRB1.0% · new BPRN1.0% · 0%RCBC0.9% · +26%FCNCA0.9% · new BWFG0.9% · -6%BSFO0.8% · +2%WRIV0.8% · 0%SMBK0.8% · -35%CZWI0.8% · -5%INBK0.7% · 0%SABK0.7% · -2%CMHF0.7% · new AMTB0.7% · -3%FSBC0.7% · 0%SBKO0.7% · -3%FCAP0.7% · -11%ORBN0.7% · 0%BSRR0.7% · -12%FVCB0.6% · 0%Blueharbor Bank0.6% · -9%PNFP0.6% · +64%MVBF0.6% · +27%BUSE0.6% · -10%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 31.3%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

Assets Under Management

$680.4M

Discretionary

$680.4M

Employees

Accounts

Address

150 S. WACKER DRIVE
SUITE 2725
CHICAGO, IL 60606-3105

Phone

(312) 855-6202

Website

1standmain.co

This firm reports 2 disclosure items on its registration.

Name	Title / Status	Ownership	Type
MOORE, CHARLES, JOSEPH Control	PRESIDENT/CHIEF EXECUTIVE OFFICER	75% or more	Individual
MURPHY, TERRENCE, PAUL	CHIEF COMPLIANCE OFFICER	Less than 5%	Individual

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

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

Exited Positions

Show all 10 →

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#	Issuer	Symbol	CUSIP	Value	Δ

BANC FUNDS CO LLC Holdings (2026-06-30)

#	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	—	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	WCCB	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	—	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	—	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.	—	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

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