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North Reef Capital Management LP — 13F Holdings & Portfolio

CIK 1867831 · latest 13F-HR filed 2026-08-14

Backtest portfolio

North Reef Capital Management LP manages $2.61B in 13F-reported U.S. long-equity assets across 43 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are MKTX (14.77%), ABCB (9.46%), FHN (9.05%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 4 new positions and exited 21; 21 existing positions rose in reported value and 15 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.

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AUM
$2.61B

Long-equity book

Holdings
43

Distinct positions

Period
2026-06-30

Filed 2026-08-14

Q/Q Activity
+4 / −21 / ↑21 / ↓15

vs 2026-03-31

Portfolio charts

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

Portfolio map

Q2 26
MKTX14.8% · +81%ABCB9.5% · -20%FHN9.0% · -36%KEY7.3% · -35%ALKT6.4% · +21%SBCF6.1% · -18%AUB5.8% · -17%CBC5.4% · +13%ACIW5.0% · +17%PIPR3.7% · +40%PNFP2.8% · +625%TRMK2.8% · -20%NTRS2.3% · +16%EGBN1.9% · -37%AMTB1.8% · +60%FLG1.7% · +9%GPN1.6% · +480%TCBK1.4% · +79%MQ1.2% · +7%MYFW0.9% · +4%IIIV0.9% · +5%WLTH0.8% · -15%FRST0.8% · +8%NBHC0.7% · +36%BANR0.7% · +33%SCHW0.6% · -50%PAY0.6% · -18%FRBT0.5% · newJCAP0.4% · -0%COSO0.4% · +16%PB0.4% · -88%MIAX0.4% · -75%FLYW0.3% · -59%GCMG0.3% · 0%SMBK0.2% · 0%AAMI0.2% · -61%SFNC0.1% · newNEWT0.1% · -22%NPB0.1% · -57%IBOC0.1% · newBOTJ0.0% · newGEMI0.0% · +101%UWMC0.0% · -72%

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 = 73%

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

Firm Profile & Key People
Assets Under Management
$4.14B
Discretionary
$4.14B
Employees
8
Accounts
10
Address
1833 SOUTH COAST HIGHWAY
SUITE 210
LAGUNA BEACH, CA 92651
Phone
(949) 482-2121
Website
Name Title / Status Ownership Type
HANNA, JAMES, H ControlLIMITED PARTNER75% or moreIndividual
HANNA, JAMES, H ControlMANAGING MEMBER75% or moreIndividual
LOCASTO, DANIEL, MARIANO ControlCHIEF OPERATING OFFICER, CHIEF COMPLIANCE OFFICERLess than 5%Individual
NORTH REEF CAPITAL MANAGEMENT GP LLC ControlGENERAL PARTNERLess than 5%Domestic Entity

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)

Show all 21 →

Top Trims

Show all 15 →

New Positions

Show all 4 →

Exited Positions

Show all 21 →

North Reef Capital Management LP Holdings (2026-06-30)

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 MARKETAXESS HLDGS INC MKTX 57060D108 $385.3M 14.77% 3,395,000 SH
2 AMERIS BANCORP ABCB 03076K108 $246.6M 9.46% 2,732,243 SH
3 FIRST HORIZON CORPORATION FHN 320517105 $235.9M 9.05% 9,201,256 SH
4 KEYCORP KEY 493267108 $190.2M 7.29% 8,250,000 SH
5 ALKAMI TECHNOLOGY INC ALKT 01644J108 $167.2M 6.41% 9,225,000 SH
6 SEACOAST BKG CORP FLA SBCF 811707801 $158.8M 6.09% 4,775,000 SH
7 ATLANTIC UN BANKSHARES CORP AUB 04911A107 $150.8M 5.78% 3,565,000 SH
8 CENTRAL BANCOMPANY CBC 152413100 $139.7M 5.36% 4,600,000 SH
9 ACI WORLDWIDE INC ACIW 004498101 $131.6M 5.05% 2,617,000 SH
10 PIPER SANDLER COMPANIES PIPR 724078209 $97.7M 3.74% 1,350,000 SH
11 PINNACLE FINL PARTNERS INC PNFP 72348N109 $73.8M 2.83% 731,537 SH
12 TRUSTMARK CORP TRMK 898402102 $72.0M 2.76% 1,565,551 SH
13 NORTHERN TR CORP NTRS 665859104 $60.0M 2.30% 345,000 SH
14 EAGLE BANCORPORATION INC EGBN 268948106 $48.6M 1.87% 1,713,535 SH
15 AMERANT BANCORP INC AMTB 023576101 $47.4M 1.82% 1,855,507 SH
16 FLAGSTAR BANK NATIONAL ASSOC FLG 649445400 $45.6M 1.75% 3,050,000 SH
17 GLOBAL PMTS INC GPN 37940X102 $42.1M 1.61% 580,000 SH
18 TRICO BANCSHARES TCBK 896095106 $35.9M 1.38% 667,061 SH
19 MARQETA INC MQ 57142B104 $32.1M 1.23% 7,900,000 SH
20 FIRST WESTN FINL INC MYFW 33751L105 $23.8M 0.91% 742,630 SH
21 I3 VERTICALS INC IIIV 46571Y107 $23.0M 0.88% 1,075,000 SH
22 WEALTHFRONT CORP WLTH 947002101 $21.9M 0.84% 2,444,253 SH
23 PRIMIS FINANCIAL CORP FRST 74167B109 $20.1M 0.77% 1,226,283 SH
24 NATIONAL BK HLDGS CORP NBHC 633707104 $19.4M 0.74% 437,241 SH
25 BANNER CORP BANR 06652V208 $17.3M 0.66% 260,156 SH
26 SCHWAB CHARLES CORP SCHW 808513105 $16.1M 0.62% 175,000 SH
27 PAYMENTUS HOLDINGS INC PAY 70439P108 $14.5M 0.56% 600,000 SH
28 FORBRIGHT INC FRBT 34520K105 $11.9M 0.46% 649,999 SH
29 JEFFERSON CAPITAL INC JCAP 47248R103 $10.3M 0.40% 530,598 SH
30 COASTALSOUTH BANCSHARES INC COSO 19058X207 $10.0M 0.38% 370,982 SH
31 PROSPERITY BANCSHARES INC PB 743606105 $9.5M 0.36% 130,000 SH
32 MIAMI INTL HLDGS INC MIAX 59356Q108 $9.3M 0.36% 251,354 SH
33 FLYWIRE CORPORATION FLYW 302492103 $7.9M 0.30% 450,000 SH
34 GCM GROSVENOR INC GCMG 36831E108 $7.8M 0.30% 630,180 SH
35 SMARTFINANCIAL INC SMBK 83190L208 $6.4M 0.25% 137,089 SH
36 ACADIAN ASSET MANAGEMENT INC AAMI 10948W103 $6.2M 0.24% 86,596 SH
37 SIMMONS FIRST NATL CORP SFNC 828730200 $3.4M 0.13% 150,000 SH
38 NEWTEKONE INC NEWT 652526203 $2.3M 0.09% 155,681 SH
39 NORTHPOINTE BANCSHARES INC. NPB 66661N886 $1.9M 0.07% 100,000 SH
40 INTERNATIONAL BANCSHARES COR IBOC 459044103 $1.9M 0.07% 25,000 SH
41 BANK OF THE JAMES FINL GP IN BOTJ 470299108 $1.3M 0.05% 50,132 SH
42 GEMINI SPACE STA INC GEMI 36866J105 $426.0K 0.02% 100,001 SH
43 UWM HOLDINGS CORPORATION UWMC 91823B109 $229.0K 0.01% 100,000 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-14 $2.61B 43 0001214659-26-010377
2026-03-31 2026-05-15 $2.91B 60 0001214659-26-006407
2025-12-31 2026-02-17 $2.48B 56 0001214659-26-001902
2025-09-30 2025-11-14 $2.14B 43 0001214659-25-016568
Filer Information
Address
1833 SOUTH COAST HIGHWAY, SUITE 210
LAGUNA BEACH, CA 92651
Phone
(949) 482-2121
Filing Manager
North Reef Capital Management LP
LAGUNA BEACH, CA
Signatory
James H. Hanna, III
Portfolio Manager, Managing Member