North Reef Capital Management LP Q4 2025 Filing

Filed February 17, 2026

Portfolio Value

$2.5B

Holdings

56

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (56 positions)

#StockSharesValue% PortfolioType
1
MKTXMARKETAXESS HLDGS INC
1,609,330$291.7M11.74%
2
FT2FIRST HORIZON CORPORATION
11,516,840$275.3M11.08%
3
ABCBAMERIS BANCORP
2,737,028$203.3M8.18%
4
SBG1SEACOAST BKG CORP FLA
5,832,075$183.2M7.37%
5
AUBATLANTIC UN BANKSHARES CORP
4,572,090$161.4M6.50%
6
COLBCOLUMBIA BKG SYS INC
3,700,000$103.4M4.16%
7
VVISA INC
270,000$94.7M3.81%
8
TSAACI WORLDWIDE INC
1,970,000$94.2M3.79%
9
STELSTELLAR BANCORP INC
2,875,245$89.0M3.58%
10
QTWOQ2 HLDGS INC
1,215,000$87.7M3.53%
11
PIPRPIPER SANDLER COMPANIES
204,900$69.6M2.80%
12
FIBKFIRST INTST BANCSYSTEM INC
1,974,999$68.3M2.75%
13
EGBNEAGLE BANCORP INC MD
2,940,000$63.0M2.53%
14
MIAXMIAMI INTL HLDGS INC
1,265,000$56.1M2.26%
15
FBKFB FINL CORP
892,685$49.8M2.00%
16
ALKTALKAMI TECHNOLOGY INC
2,100,000$48.4M1.95%
17
FFWMFIRST FNDTN INC
7,812,475$48.1M1.94%
18
NTRSNORTHERN TR CORP
310,611$42.4M1.71%
19
FITBFIFTH THIRD BANCORP
850,000$39.8M1.60%
20
TFCTRUIST FINL CORP
765,774$37.7M1.52%
21
TWTRADEWEB MKTS INC
316,039$34.0M1.37%
22
CBCCENTRAL BANCOMPANY
1,310,673$31.6M1.27%
23
PBPROSPERITY BANCSHARES INC
445,000$30.8M1.24%
24
MQMARQETA INC
6,000,000$28.5M1.15%
25
TCBKTRICO BANCSHARES
485,423$23.0M0.93%
26
BANCBANC OF CALIFORNIA INC
1,156,680$22.3M0.90%
27
AAMIACADIAN ASSET MANAGEMENT INC
443,922$20.9M0.84%
28
MYFWFIRST WESTN FINL INC
685,954$18.4M0.74%
29
FRSTPRIMIS FINANCIAL CORP
1,203,604$16.7M0.67%
30
WLTHWEALTHFRONT CORP
1,226,633$16.7M0.67%
31
EBCEASTERN BANKSHARES INC
796,451$14.7M0.59%
32
FOURSHIFT4 PMTS INC
155,929$9.8M0.40%
33
VYXNCR VOYIX CORPORATION
840,395$8.6M0.34%
34
FLYWFLYWIRE CORPORATION
600,001$8.5M0.34%
35
SSBSOUTHSTATE BK CORP
90,000$8.5M0.34%
36
MRXMAREX GROUP PLC
190,000$7.3M0.29%
37
JHGJANUS HENDERSON GROUP PLC
150,000$7.1M0.29%
38
GCMGGCM GROSVENOR INC
601,355$6.8M0.27%
39
COSOCOASTALSOUTH BANCSHARES INC
263,900$6.1M0.25%
40
CRMTAMERICAS CAR-MART INC
242,187$6.1M0.25%
41
JCAPJEFFERSON CAPITAL INC
239,473$5.3M0.22%
42
FIGRFIGURE TECHNOLOGY SOLUTIO
125,000$5.1M0.21%
43
SMBKSMARTFINANCIAL INC
134,871$5.0M0.20%
44
KLARKLARNA GROUP PLC
159,996$4.6M0.19%
45
NEWTNEWTEKONE INC
386,923$4.4M0.18%
46
NPBNORTHPOINTE BANCSHARES INC.
258,752$4.3M0.17%
47
AVBHAVIDBANK HLDGS INC
123,671$3.3M0.13%
48
TCBITEXAS CAP BANCSHARES INC
34,570$3.1M0.13%
49
BLSHBULLISH
81,280$3.1M0.12%
50
GEMIGEMINI SPACE STA INC
300,000$3.0M0.12%
51
USCBUSCB FINANCIAL HOLDINGS INC
123,741$2.3M0.09%
52
FFICFLUSHING FINL CORP
135,000$2.0M0.08%
53
CVBFCVB FINL CORP
103,824$1.9M0.08%
54
IIIVI3 VERTICALS INC
75,711$1.9M0.08%
55
BBTBEACON FINANCIAL CORP.
50,344$1.3M0.05%
56
RNSTRENASANT CORP
15,001$528K0.02%