North Reef Capital Management LP Quant / Systematic

Name: North Reef Capital Management LP Q2 2026 13F Filing | 13F Explorer
Creator: North Reef Capital Management LP
Published: 2026-08-14

Location: Laguna Beach, CA

CIK: 0001867831 · Show all filings

Period: Q2 2026 (← Previous)

Filing Date: Aug 14, 2026

Total Value: $2.608B (100.0% shares, 0.0% debt)

Holdings (43)

New Positions (4)

FRBT FORBRIGHT INC 0.5%

Value $11.89M Shares 649,999 Est. Cost — Unrealized —

SFNC SIMMONS FIRST NATL CORP 0.1%

Value $3.397M Shares 150,000 Est. Cost — Unrealized —

IBOC INTERNATIONAL BANCSHARES COR 0.1%

Value $1.899M Shares 25,000 Est. Cost — Unrealized —

BOTJ BANK OF THE JAMES FINL GP IN 0.0%

Value $1.279M Shares 50,132 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
FRBT	FORBRIGHT INC	649,999	$11.89M	0.5%	—	—	CL A COM	34520K105
SFNC	SIMMONS FIRST NATL CORP	150,000	$3.397M	0.1%	—	—	CL A $1 PAR	828730200
IBOC	INTERNATIONAL BANCSHARES COR	25,000	$1.899M	0.1%	—	—	COM	459044103
BOTJ	BANK OF THE JAMES FINL GP IN	50,132	$1.279M	0.0%	—	—	COM	470299108

Increased Positions (19)

MKTX MARKETAXESS HLDGS INC 14.8%

Value $385M (+24.6%) Shares 3,395,000 (+81.1%) Est. Cost — Unrealized —

PNFP PINNACLE FINL PARTNERS INC 2.8%

Value $73.8M (+748.8%) Shares 731,537 (+624.8%) Est. Cost — Unrealized —

ALKT ALKAMI TECHNOLOGY INC 6.4%

Value $167M (+39.4%) Shares 9,225,000 (+20.6%) Est. Cost — Unrealized —

CBC CENTRAL BANCOMPANY 5.4%

Value $140M (+43.2%) Shares 4,600,000 (+12.9%) Est. Cost — Unrealized —

ACIW ACI WORLDWIDE INC 5.0%

Value $132M (+43.9%) Shares 2,617,000 (+17.4%) Est. Cost — Unrealized —

GPN GLOBAL PMTS INC 1.6%

Value $42.08M (+525.3%) Shares 580,000 (+480.0%) Est. Cost — Unrealized —

PIPR PIPER SANDLER COMPANIES 3.7%

Value $97.66M (+32.3%) Shares 1,350,000 (+39.9%) Est. Cost — Unrealized —

AMTB AMERANT BANCORP INC 1.8%

Value $47.35M (+85.1%) Shares 1,855,507 (+59.9%) Est. Cost — Unrealized —

NTRS NORTHERN TR CORP 2.3%

Value $59.97M (+43.9%) Shares 345,000 (+15.6%) Est. Cost — Unrealized —

TCBK TRICO BANCSHARES 1.4%

Value $35.92M (+102.5%) Shares 667,061 (+78.8%) Est. Cost — Unrealized —

FLG FLAGSTAR BANK NATIONAL ASSOC 1.7%

Value $45.57M (+24.0%) Shares 3,050,000 (+9.3%) Est. Cost — Unrealized —

NBHC NATIONAL BK HLDGS CORP 0.7%

Value $19.43M (+54.9%) Shares 437,241 (+36.5%) Est. Cost — Unrealized —

MYFW FIRST WESTN FINL INC 0.9%

Value $23.85M (+35.4%) Shares 742,630 (+3.6%) Est. Cost — Unrealized —

BANR BANNER CORP 0.7%

Value $17.28M (+45.7%) Shares 260,156 (+33.1%) Est. Cost — Unrealized —

FRST PRIMIS FINANCIAL CORP 0.8%

Value $20.07M (+33.1%) Shares 1,226,283 (+8.0%) Est. Cost — Unrealized —

COSO COASTALSOUTH BANCSHARES INC 0.4%

Value $9.961M (+26.2%) Shares 370,982 (+15.6%) Est. Cost — Unrealized —

MQ MARQETA INC 1.2%

Value $32.07M (+6.2%) Shares 7,900,000 (+6.8%) Est. Cost — Unrealized —

GEMI GEMINI SPACE STA INC 0.0%

Value $426K (+93.8%) Shares 100,001 (+101.1%) Est. Cost — Unrealized —

IIIV I3 VERTICALS INC 0.9%

Value $22.96M (+0.2%) Shares 1,075,000 (+4.9%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MKTX	MARKETAXESS HLDGS INC	3,395,000 (+81.1%)	$385M (+24.6%)	14.8%	—	—	COM	57060D108
PNFP	PINNACLE FINL PARTNERS INC	731,537 (+624.8%)	$73.8M (+748.8%)	2.8%	—	—	COM	72348N109
ALKT	ALKAMI TECHNOLOGY INC	9,225,000 (+20.6%)	$167M (+39.4%)	6.4%	—	—	COM	01644J108
CBC	CENTRAL BANCOMPANY	4,600,000 (+12.9%)	$140M (+43.2%)	5.4%	—	—	COM CL A	152413100
ACIW	ACI WORLDWIDE INC	2,617,000 (+17.4%)	$132M (+43.9%)	5.0%	—	—	COM	004498101
GPN	GLOBAL PMTS INC	580,000 (+480.0%)	$42.08M (+525.3%)	1.6%	—	—	COM	37940X102
PIPR	PIPER SANDLER COMPANIES	1,350,000 (+39.9%)	$97.66M (+32.3%)	3.7%	—	—	COM NEW	724078209
AMTB	AMERANT BANCORP INC	1,855,507 (+59.9%)	$47.35M (+85.1%)	1.8%	—	—	CL A	023576101
NTRS	NORTHERN TR CORP	345,000 (+15.6%)	$59.97M (+43.9%)	2.3%	—	—	COM	665859104
TCBK	TRICO BANCSHARES	667,061 (+78.8%)	$35.92M (+102.5%)	1.4%	—	—	COM	896095106
FLG	FLAGSTAR BANK NATIONAL ASSOC	3,050,000 (+9.3%)	$45.57M (+24.0%)	1.7%	—	—	COM NEW	649445400
NBHC	NATIONAL BK HLDGS CORP	437,241 (+36.5%)	$19.43M (+54.9%)	0.7%	—	—	CL A	633707104
MYFW	FIRST WESTN FINL INC	742,630 (+3.6%)	$23.85M (+35.4%)	0.9%	—	—	COM	33751L105
BANR	BANNER CORP	260,156 (+33.1%)	$17.28M (+45.7%)	0.7%	—	—	COM NEW	06652V208
FRST	PRIMIS FINANCIAL CORP	1,226,283 (+8.0%)	$20.07M (+33.1%)	0.8%	—	—	COM	74167B109
COSO	COASTALSOUTH BANCSHARES INC	370,982 (+15.6%)	$9.961M (+26.2%)	0.4%	—	—	COM NEW	19058X207
MQ	MARQETA INC	7,900,000 (+6.8%)	$32.07M (+6.2%)	1.2%	—	—	CLASS A COM	57142B104
GEMI	GEMINI SPACE STA INC	100,001 (+101.1%)	$426K (+93.8%)	0.0%	—	—	CL A COM	36866J105
IIIV	I3 VERTICALS INC	1,075,000 (+4.9%)	$22.96M (+0.2%)	0.9%	—	—	COM CL A	46571Y107

Exited Positions (21)

V VISA INC 4.2%

Value $109M Shares 360,000 Est. Cost — Unrealized —

TW TRADEWEB MKTS INC 1.5%

Value $39.66M Shares 337,071 Est. Cost — Unrealized —

FIS FIDELITY NATL INFORMATION SV 1.4%

Value $36.36M Shares 775,000 Est. Cost — Unrealized —

FFWM FIRST FNDTN INC 1.3%

Value $34.88M Shares 5,911,778 Est. Cost — Unrealized —

QTWO Q2 HLDGS INC 1.1%

Value $29.36M Shares 620,814 Est. Cost — Unrealized —

BANC BANC OF CALIFORNIA INC 1.0%

Value $26.37M Shares 1,500,000 Est. Cost — Unrealized —

FBK FB FINL CORP 1.0%

Value $25.97M Shares 500,000 Est. Cost — Unrealized —

RJF RAYMOND JAMES FINL INC 0.9%

Value $23.05M Shares 159,162 Est. Cost — Unrealized —

AXP AMERICAN EXPRESS CO 0.6%

Value $15.12M Shares 50,000 Est. Cost — Unrealized —

FIBK FIRST INTST BANCSYSTEM INC 0.4%

Value $10.86M Shares 325,157 Est. Cost — Unrealized —

VYX NCR VOYIX CORPORATION 0.2%

Value $5.132M Shares 810,732 Est. Cost — Unrealized —

SF STIFEL FINL CORP 0.2%

Value $4.23M Shares 57,230 Est. Cost — Unrealized —

FIGR FIGURE TECHNOLOGY SOLUTIO 0.2%

Value $4.054M Shares 119,398 Est. Cost — Unrealized —

AVBH AVIDBANK HLDGS INC 0.1%

Value $3.506M Shares 123,022 Est. Cost — Unrealized —

COF CAPITAL ONE FINL CORP 0.1%

Value $3.404M Shares 18,659 Est. Cost — Unrealized —

CRMT AMERICAS CAR-MART INC 0.1%

Value $3.292M Shares 258,637 Est. Cost — Unrealized —

KLAR KLARNA GROUP PLC 0.1%

Value $2.93M Shares 223,820 Est. Cost — Unrealized —

USCB USCB FINANCIAL HOLDINGS INC 0.1%

Value $2.375M Shares 128,093 Est. Cost — Unrealized —

CVBF CVB FINL CORP 0.1%

Value $1.939M Shares 100,000 Est. Cost — Unrealized —

RBB RBB BANCORP 0.1%

Value $1.371M Shares 64,150 Est. Cost — Unrealized —

RNST RENASANT CORP 0.0%

Value $539K Shares 14,923 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
V	VISA INC	360,000	$109M	4.2%	—	—	—	92826C839
TW	TRADEWEB MKTS INC	337,071	$39.66M	1.5%	—	—	—	892672106
FIS	FIDELITY NATL INFORMATION SV	775,000	$36.36M	1.4%	—	—	—	31620M106
FFWM	FIRST FNDTN INC	5,911,778	$34.88M	1.3%	—	—	—	32026V104
QTWO	Q2 HLDGS INC	620,814	$29.36M	1.1%	—	—	—	74736L109
BANC	BANC OF CALIFORNIA INC	1,500,000	$26.37M	1.0%	—	—	—	05990K106
FBK	FB FINL CORP	500,000	$25.97M	1.0%	—	—	—	30257X104
RJF	RAYMOND JAMES FINL INC	159,162	$23.05M	0.9%	—	—	—	754730109
AXP	AMERICAN EXPRESS CO	50,000	$15.12M	0.6%	—	—	—	025816109
FIBK	FIRST INTST BANCSYSTEM INC	325,157	$10.86M	0.4%	—	—	—	32055Y201
VYX	NCR VOYIX CORPORATION	810,732	$5.132M	0.2%	—	—	—	62886E108
SF	STIFEL FINL CORP	57,230	$4.23M	0.2%	—	—	—	860630102
FIGR	FIGURE TECHNOLOGY SOLUTIO	119,398	$4.054M	0.2%	—	—	—	349381103
AVBH	AVIDBANK HLDGS INC	123,022	$3.506M	0.1%	—	—	—	05368J103
COF	CAPITAL ONE FINL CORP	18,659	$3.404M	0.1%	—	—	—	14040H105
CRMT	AMERICAS CAR-MART INC	258,637	$3.292M	0.1%	—	—	—	03062T105
KLAR	KLARNA GROUP PLC	223,820	$2.93M	0.1%	—	—	—	G5279N105
USCB	USCB FINANCIAL HOLDINGS INC	128,093	$2.375M	0.1%	—	—	—	90355N101
CVBF	CVB FINL CORP	100,000	$1.939M	0.1%	—	—	—	126600105
RBB	RBB BANCORP	64,150	$1.371M	0.1%	—	—	—	74930B105
RNST	RENASANT CORP	14,923	$539K	0.0%	—	—	—	75970E107

Decreased Positions (17)

FHN FIRST HORIZON CORPORATION 9.0%

Value $236M (-28.3%) Shares 9,201,256 (-36.3%) Est. Cost — Unrealized —

PB PROSPERITY BANCSHARES INC 0.4%

Value $9.494M (-87.2%) Shares 130,000 (-88.3%) Est. Cost — Unrealized —

KEY KEYCORP 7.3%

Value $190M (-25.0%) Shares 8,250,000 (-34.8%) Est. Cost — Unrealized —

MIAX MIAMI INTL HLDGS INC 0.4%

Value $9.34M (-76.3%) Shares 251,354 (-75.2%) Est. Cost — Unrealized —

ABCB AMERIS BANCORP 9.5%

Value $247M (-7.6%) Shares 2,732,243 (-20.2%) Est. Cost — Unrealized —

EGBN EAGLE BANCORPORATION INC 1.9%

Value $48.65M (-27.7%) Shares 1,713,535 (-36.7%) Est. Cost — Unrealized —

SBCF SEACOAST BKG CORP FLA 6.1%

Value $159M (-10.0%) Shares 4,775,000 (-18.0%) Est. Cost — Unrealized —

SCHW SCHWAB CHARLES CORP 0.6%

Value $16.15M (-50.9%) Shares 175,000 (-50.0%) Est. Cost — Unrealized —

TRMK TRUSTMARK CORP 2.8%

Value $72.03M (-12.5%) Shares 1,565,551 (-19.8%) Est. Cost — Unrealized —

AAMI ACADIAN ASSET MANAGEMENT INC 0.2%

Value $6.193M (-48.3%) Shares 86,596 (-60.7%) Est. Cost — Unrealized —

FLYW FLYWIRE CORPORATION 0.3%

Value $7.907M (-38.2%) Shares 450,000 (-59.1%) Est. Cost — Unrealized —

WLTH WEALTHFRONT CORP 0.8%

Value $21.85M (-18.1%) Shares 2,444,253 (-15.3%) Est. Cost — Unrealized —

PAY PAYMENTUS HOLDINGS INC 0.6%

Value $14.5M (-22.3%) Shares 600,000 (-18.3%) Est. Cost — Unrealized —

AUB ATLANTIC UN BANKSHARES CORP 5.8%

Value $151M (-1.5%) Shares 3,565,000 (-16.8%) Est. Cost — Unrealized —

NPB NORTHPOINTE BANCSHARES INC. 0.1%

Value $1.918M (-52.2%) Shares 100,000 (-57.0%) Est. Cost — Unrealized —

UWMC UWM HOLDINGS CORPORATION 0.0%

Value $229K (-82.1%) Shares 100,000 (-71.7%) Est. Cost — Unrealized —

NEWT NEWTEKONE INC 0.1%

Value $2.306M (+5.8%) Shares 155,681 (-21.8%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
FHN	FIRST HORIZON CORPORATION	9,201,256 (-36.3%)	$236M (-28.3%)	9.0%	—	—	COM	320517105
PB	PROSPERITY BANCSHARES INC	130,000 (-88.3%)	$9.494M (-87.2%)	0.4%	—	—	COM	743606105
KEY	KEYCORP	8,250,000 (-34.8%)	$190M (-25.0%)	7.3%	—	—	COM	493267108
MIAX	MIAMI INTL HLDGS INC	251,354 (-75.2%)	$9.34M (-76.3%)	0.4%	—	—	COM	59356Q108
ABCB	AMERIS BANCORP	2,732,243 (-20.2%)	$247M (-7.6%)	9.5%	—	—	COM	03076K108
EGBN	EAGLE BANCORPORATION INC	1,713,535 (-36.7%)	$48.65M (-27.7%)	1.9%	—	—	COM	268948106
SBCF	SEACOAST BKG CORP FLA	4,775,000 (-18.0%)	$159M (-10.0%)	6.1%	—	—	COM NEW	811707801
SCHW	SCHWAB CHARLES CORP	175,000 (-50.0%)	$16.15M (-50.9%)	0.6%	—	—	COM	808513105
TRMK	TRUSTMARK CORP	1,565,551 (-19.8%)	$72.03M (-12.5%)	2.8%	—	—	COM	898402102
AAMI	ACADIAN ASSET MANAGEMENT INC	86,596 (-60.7%)	$6.193M (-48.3%)	0.2%	—	—	COM	10948W103
FLYW	FLYWIRE CORPORATION	450,000 (-59.1%)	$7.907M (-38.2%)	0.3%	—	—	COM VTG	302492103
WLTH	WEALTHFRONT CORP	2,444,253 (-15.3%)	$21.85M (-18.1%)	0.8%	—	—	COM	947002101
PAY	PAYMENTUS HOLDINGS INC	600,000 (-18.3%)	$14.5M (-22.3%)	0.6%	—	—	COM CL A	70439P108
AUB	ATLANTIC UN BANKSHARES CORP	3,565,000 (-16.8%)	$151M (-1.5%)	5.8%	—	—	COM	04911A107
NPB	NORTHPOINTE BANCSHARES INC.	100,000 (-57.0%)	$1.918M (-52.2%)	0.1%	—	—	COM SHS	66661N886
UWMC	UWM HOLDINGS CORPORATION	100,000 (-71.7%)	$229K (-82.1%)	0.0%	—	—	COM CL A	91823B109
NEWT	NEWTEKONE INC	155,681 (-21.8%)	$2.306M (+5.8%)	0.1%	—	—	COM NEW	652526203

Unchanged Positions (3)

GCMG GCM GROSVENOR INC 0.3%

Value $7.751M Shares 630,180 Est. Cost — Unrealized —

SMBK SMARTFINANCIAL INC 0.2%

Value $6.432M Shares 137,089 Est. Cost — Unrealized —

JCAP JEFFERSON CAPITAL INC 0.4%

Value $10.33M Shares 530,598 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GCMG	GCM GROSVENOR INC	630,180	$7.751M	0.3%	—	—	COM CL A	36831E108
SMBK	SMARTFINANCIAL INC	137,089	$6.432M	0.2%	—	—	COM NEW	83190L208
JCAP	JEFFERSON CAPITAL INC	530,598	$10.33M	0.4%	—	—	COM	47248R103