North Reef Capital Management LP

Q3 2025 13F-HR Holdings

Location
Laguna Beach, CA
Holdings as of
9/30/2025
Date filed
11/14/2025
Form type
13F-HR
Num holdings
43
Total value ($000)
$2,138,372
Net value change ($000)
-117,819 (-5.2%)
New positions
16
Sold out positions
13
Turnover %
44.5%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/14/2025 Next filing: 2/17/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
CADE 264,845 NEW
MKTX 65,001 69.3%
EGBN 45,446 583.2%
AUB 45,033 52.4%
QTWO 43,675 55.5%
MIAX 29,221 NEW
FIBK 27,090 NEW
ABCB 22,948 18.8%
FHN 13,096 4.9%
STEL 12,431 28.8%
Top Reduces (Value $000, Stocks/ETFs)
SNV -185,006 -100.0%
PINNACLE FINANCIAL PARTNERS INC -128,628 -100.0%
WFC -118,177 -100.0%
TCBI -110,693 -70.2%
C -38,304 -100.0%
HTH -35,965 -100.0%
ACIW -22,477 -19.3%
TFC -13,972 -100.0%
V -13,862 -27.9%
BMRC -13,704 -100.0%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
Filter:
Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type