North Reef Capital Management

Quarters on file

Each quarter on file, back to June 2016 when the filing exists. Net bought is the share change from the previous quarter at that quarter’s close. A split that leaves the dollar value in place counts as flat.

• Q2 20266 names$366M−$2.8M
• Q1 20267 names$322M+$161M
• Q4 20258 names$270M+$47.1M
• Q3 20256 names$242M+$52.0M
• Q2 20255 names$215M−$10.5M
• Q1 20259 names$233M+$18.1M
• Q4 20248 names$246M−$2.6M
• Q3 20247 names$220M−$7.0M
• Q2 20246 names$187M+$15.8M
• Q1 20243 names$153M−$12.1M
• Q4 20233 names$146M−$24.0M
• Q3 20233 names$133M+$25.0M
• Q2 20233 names$107M+$49.5M
• Q1 20233 names$54.7M−$13.4M
• Q4 20222 names$68.4M+$36.8M
• Q3 20224 names$38.6M+$23.5M
• Q2 20221 name$22.9M+$36.3M
• Q1 20221 name$315KFlat
• Q4 20210 names$0—

What moved the book

The five software lines with the largest share change this quarter.

• AlkamiALKT+$49.0M$48.4M
• Q2QTWO−$34.4M$87.7M
• Wealthfront CorporationWLTH+$16.7M$16.7M
• ACI WorldwideACIW+$9.8M$94.2M
• Shift4 Payments, Inc.FOUR+$4.1M$9.8M

Software held

• ACI WorldwideACIW1,970,000 shares · 34.8% of their software · price −$9.8M$94.2M+$9.8M
• Q2QTWO1,215,000 shares · 32.4% of their software$87.7M−$34.4M
• AlkamiALKT2,100,000 shares · 17.9% of their software · price −$3.7M$48.4M+$49.0M
• Wealthfront CorporationWLTH1,226,633 shares · 6.2% of their software$16.7MNew · +$16.7M
• Shift4 Payments, Inc.FOUR155,929 shares · 3.6% of their software · price −$2.3M$9.8M+$4.1M
• FlywireFLYW600,001 shares · 3.1% of their software$8.5M−$677K
• BullishBLSH81,280 shares · 1.1% of their software · price −$2.1M$3.1MFlat
• i3 Verticals, Inc.IIIV75,711 shares · 0.7% of their software · price −$550K$1.9MNew · +$2.5M