North Reef Capital Management LP
CIK: 0001867831Latest portfolio: $2.5B · Q4 2025
Holdings
56
Total Value
$2.5B
New Positions
18
Closed Positions
5
Top Holdings
View All 56 Holdings →| # | Stock | Shares | Value | % Portfolio | Change | Type |
|---|---|---|---|---|---|---|
| 1 | MKTXMARKETAXESS HLDGS INC | 1,609,330 | $291.7M | 11.74% | +698K | |
| 2 | FT2FIRST HORIZON CORPORATION | 11,516,840 | $275.3M | 11.08% | -853,160 | |
| 3 | ABCBAMERIS BANCORP | 2,737,028 | $203.3M | 8.18% | +756K | |
| 4 | SBG1SEACOAST BKG CORP FLA | 5,832,075 | $183.2M | 7.37% | +837K | |
| 5 | AUBATLANTIC UN BANKSHARES CORP | 4,572,090 | $161.4M | 6.50% | +858K | |
| 6 | COLBCOLUMBIA BKG SYS INC | 3,700,000 | $103.4M | 4.16% | +3.6M | |
| 7 | VVISA INC | 270,000 | $94.7M | 3.81% | +165K | |
| 8 | TSAACI WORLDWIDE INC | 1,970,000 | $94.2M | 3.79% | +186K | |
| 9 | STELSTELLAR BANCORP INC | 2,875,245 | $89.0M | 3.58% | +1.0M | |
| 10 | QTWOQ2 HLDGS INC | 1,215,000 | $87.7M | 3.53% | -475,000 | |
| 11 | PIPRPIPER SANDLER COMPANIES | 204,900 | $69.6M | 2.80% | +53K | |
| 12 | FIBKFIRST INTST BANCSYSTEM INC | 1,974,999 | $68.3M | 2.75% | +1.1M | |
| 13 | EGBNEAGLE BANCORP INC MD | 2,940,000 | $63.0M | 2.53% | +307K | |
| 14 | MIAXMIAMI INTL HLDGS INC | 1,265,000 | $56.1M | 2.26% | +539K | |
| 15 | FBKFB FINL CORP | 892,685 | $49.8M | 2.00% | NEW | |
| 16 | ALKTALKAMI TECHNOLOGY INC | 2,100,000 | $48.4M | 1.95% | +2.0M | |
| 17 | FFWMFIRST FNDTN INC | 7,812,475 | $48.1M | 1.94% | +912K | |
| 18 | NTRSNORTHERN TR CORP | 310,611 | $42.4M | 1.71% | +121K | |
| 19 | FITBFIFTH THIRD BANCORP | 850,000 | $39.8M | 1.60% | NEW | |
| 20 | TFCTRUIST FINL CORP | 765,774 | $37.7M | 1.52% | NEW | |
| 21 | TWTRADEWEB MKTS INC | 316,039 | $34.0M | 1.37% | +275K | |
| 22 | CBCCENTRAL BANCOMPANY | 1,310,673 | $31.6M | 1.27% | NEW | |
| 23 | PBPROSPERITY BANCSHARES INC | 445,000 | $30.8M | 1.24% | NEW | |
| 24 | MQMARQETA INC | 6,000,000 | $28.5M | 1.15% | +1.4M | |
| 25 | TCBKTRICO BANCSHARES | 485,423 | $23.0M | 0.93% | NEW |
Quarterly Changes
New Positions
Increased Positions
Sector Breakdown
Financial Services0.0% ($2.916912032791614e+185T)
Technology0.0% ($8.767448447285002e+34T)
Unknown0.0% ($27525218.3T)
Consumer Cyclical0.0% ($6.1M)
Filing History
| Quarter | Filing Date | Portfolio Value | Holdings |
|---|---|---|---|
| Q4 2025 | Feb 17, 2026 | $2.5B | 56 |
| Q3 2025 | Nov 14, 2025 | $2.1T | 43 |
| Q2 2025 | Aug 14, 2025 | $2.3T | 40 |
| Q1 2025 | May 15, 2025 | $2.3T | 46 |
| Q4 2024 | Feb 14, 2025 | $2.2T | 41 |
| Q3 2024 | Nov 14, 2024 | $2143.2T | 48 |
| Q2 2024 | Aug 14, 2024 | $2159.1T | 46 |
| Q1 2024 | May 15, 2024 | $1918.6T | 44 |
| Q4 2023 | Feb 14, 2024 | $1717.2T | 36 |
| Q3 2023 | Nov 13, 2023 | $1584.3T | 44 |
| Q2 2023 | Aug 14, 2023 | $1300.9T | 36 |
| Q1 2023 | May 12, 2023 | $892.5T | 40 |
| Q4 2022 | Feb 13, 2023 | $912.3T | 37 |
| Q3 2022 | Nov 10, 2022 | $400.7B | 37 |
| Q2 2022 | Aug 12, 2022 | $355.8B | 34 |
| Q1 2022 | May 13, 2022 | $244.5B | 34 |
| Q4 2021 | Feb 11, 2022 | $216.9B | 33 |
Fund Information
North Reef Capital Management LP is an institutional investment manager that files 13F reports with the SEC. As of the Q4 2025 filing, the fund reported a portfolio valued at $2.5B across 56 holdings. The largest position is MARKETAXESS HLDGS INC (MKTX), representing 11.7% of the portfolio. Compared to the previous quarter, the fund opened 18 new positions and closed 5 positions. 13F filings are required quarterly disclosures that provide transparency into the holdings of institutional investment managers with at least $100 million in qualifying assets.