North Reef Capital Management LP

Q4 2025 13F-HR Holdings

Location
Laguna Beach, CA
Holdings as of
12/31/2025
Date filed
2/17/2026
Form type
13F-HR
Num holdings
56
Total value ($000)
$2,484,768
Net value change ($000)
+346,396 (16.2%)
New positions
18
Sold out positions
5
Turnover %
32.8%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/14/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 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)
MKTX 132,887 83.7%
COLB 100,841 3917.7%
V 58,847 164.2%
ABCB 58,047 40.0%
FBK 49,812 NEW
ALKT 45,277 1428.3%
FIBK 41,245 152.3%
FITB 39,789 NEW
TFC 37,684 NEW
STEL 33,440 60.2%
Top Reduces (Value $000, Stocks/ETFs)
CADE -264,845 -100.0%
CMA -244,616 -100.0%
TCBI -43,784 -93.3%
QTWO -34,665 -28.3%
KRE -4,748 -100.0%
FHN -4,434 -1.6%
AAMI -3,768 -15.3%
FIGR -3,624 -41.5%
CME -3,026 -100.0%
GEMI -2,902 -49.4%
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.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type