BANC FUNDS CO LLC
CIK 1029311 · View on SEC EDGAR ↗
- Portfolio value
- $605.5M
- Positions
- 92
- As of
- June 30, 2026
#3,357 of 9,443 by 13F value · top 35.6%
Portfolio value QoQ: +12.7% 13F does not disclose cash
- Top 10 holdings weight
- 30.97%
- Top 25 holdings weight
- 58.65%
- Positions above 1%
- 37
- Effective number of positions
- 53.7
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 7.94% Est. buys $45,371,833 · sells $46,506,940
Median holding: 7.0 quarters Tracked Q4 2024–Q2 2026 · 64.8% still held
- New positions
- 5
- Increased
- 19
- Decreased
- 28
- Closed
- 10
On this page
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Sector breakdown
Financials
65.9%
Financial Services
4.1%
Other/Unmapped
30.0%
Full portfolio 92 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| OSBC Old Second Bancorp, Inc. - Common Stock | $24,116,215 | 3.98% | 1,034,143 | $3,368,692 | Up ×2 | ||
| PBAM Private Bancorp of America, Inc. - Common Stock | $23,225,566 | 3.84% | 313,859 | $2,158,253 | Up ×3 | ||
| AVBH Avidbank Holdings, Inc. - Common Stock | $22,067,343 | 3.64% | 668,100 | $3,111,993 | Up ×2 | ||
| UNTY Unity Bancorp, Inc. - Common Stock | $21,742,826 | 3.59% | 370,469 | $2,282,268 | Down ×1 | ||
| Unknown issuer (CUSIP: 31943F200) | $17,725,050 | 2.93% | 1,338,750 | Up ×1 | |||
| BCAL California BanCorp - Common Stock | $17,008,670 | 2.81% | 816,155 | $2,280,603 | Down ×1 | ||
| AMBZ | $16,674,627 | 2.75% | 229,173 | $-762,967 | Down ×6 | ||
| FRBA First Bank - Common Stock | $15,322,355 | 2.53% | 864,205 | $1,495,075 | |||
| WCCB | $15,071,000 | 2.49% | 301,420 | $1,930,077 | Up ×2 | ||
| MCB Metropolitan Bank Holding Corp. Common Stock | $14,539,546 | 2.40% | 147,221 | $2,693,959 | Up ×2 | ||
| FRST Primis Financial Corp. - Common Stock | $14,290,372 | 2.36% | 872,961 | $2,697,450 | |||
| MBIN Merchants Bancorp - Common Stock | $14,253,100 | 2.35% | 285,062 | $2,192,730 | Up ×2 | ||
| MNSB MainStreet Bancshares, Inc. - Common Stock | $13,472,815 | 2.23% | 545,679 | $1,685,925 | Up ×2 | ||
| PGC Peapack-Gladstone Financial Corporation - Common Stock | $12,965,912 | 2.14% | 273,947 | $3,320,238 | |||
| TCBI Texas Capital Bancshares, Inc. - Common Stock | $12,366,624 | 2.04% | 119,762 | $1,003,605 | |||
| MYFW First Western Financial, Inc. - Common Stock | $10,994,592 | 1.82% | 342,404 | $2,430,822 | Down ×1 | ||
| ALRS Alerus Financial Corporation - Common Stock | $10,859,032 | 1.79% | 349,165 | $2,580,330 | |||
| BANC Banc of California, Inc. Common Stock | $10,618,247 | 1.75% | 519,738 | $1,481,253 | |||
| CNOB ConnectOne Bancorp, Inc. - Common Stock | $10,372,921 | 1.71% | 310,195 | $2,069,001 | |||
| FBIZ First Business Financial Services, Inc. - Common Stock | $10,310,860 | 1.70% | 163,224 | $1,346,400 | Down ×1 | ||
| SFST Southern First Bancshares, Inc. - Common Stock | $9,938,221 | 1.64% | 162,655 | $583,023 | Down ×1 | ||
| ALPIB | $9,803,322 | 1.62% | 204,321 | $36,778 | |||
| FSUN FirstSun Capital Bancorp - Common Stock | $9,230,842 | 1.52% | 238,031 | $3,087,733 | Up ×1 | ||
| ISTR Investar Holding Corporation - Common Stock | $9,194,604 | 1.52% | 306,896 | $994,343 | |||
| TFIN TFIN | $8,938,648 | 1.48% | 117,136 | $1,950,314 | |||
| CBAN Colony Bankcorp, Inc. Common Stock | $8,869,293 | 1.46% | 441,478 | $492,317 | Up ×1 | ||
| CCNB | $8,281,555 | 1.37% | 492,071 | $1,793,438 | Up ×1 | ||
| MRBK Meridian Corporation - Common Stock | $7,662,136 | 1.27% | 382,533 | $659,582 | Up ×2 | ||
| MBWM Mercantile Bank Corporation - Common Stock | $7,531,207 | 1.24% | 131,160 | $907,627 | |||
| CCNE CNB Financial Corporation - Common Stock | $7,496,261 | 1.24% | 222,375 | $1,056,281 | |||
| MPB Mid Penn Bancorp - Common Stock | $7,246,093 | 1.20% | 207,982 | $557,392 | |||
| BFST Business First Bancshares, Inc. - Common Stock | $7,198,718 | 1.19% | 234,257 | $864,409 | |||
| OBT Orange County Bancorp, Inc. - Common Stock | $6,842,367 | 1.13% | 186,035 | $525,166 | Down ×1 | ||
| TCBX Third Coast Bancshares, Inc. - Common Stock | $6,830,186 | 1.13% | 169,064 | $434,495 | |||
| BRBS | $6,668,286 | 1.10% | 1,889,033 | $-1,265,653 | |||
| CWBC Community West Bancshares - Common Stock | $6,462,677 | 1.07% | 240,606 | Up ×1 | |||
| BSVN Bank7 Corp. - Common stock | $6,291,005 | 1.04% | 128,519 | $1,165,667 | |||
| BHRB Burke & Herbert Financial Services Corp. - Common Stock | $5,919,396 | 0.98% | 82,374 | Up ×1 | |||
| BPRN Princeton Bancorp, Inc. - Common Stock | $5,841,492 | 0.96% | 153,926 | $643,411 | |||
| STBK | $5,642,086 | 0.93% | 429,056 | $450,508 | |||
| RCBC River City Bank - Common stock | $5,576,981 | 0.92% | 128,354 | $1,310,201 | Up ×3 | ||
| FSRL | $5,482,409 | 0.91% | 297,472 | $738,158 | Down ×2 | ||
| BWFG Bankwell Financial Group, Inc. - Common Stock | $5,312,351 | 0.88% | 90,423 | $633,907 | Down ×1 | ||
| BSFO | $5,092,632 | 0.84% | 117,072 | $775,131 | Up ×1 | ||
| WRIV | $4,859,400 | 0.80% | 89,000 | $142,400 | |||
| SMBK SmartFinancial, Inc. Common Stock | $4,580,612 | 0.76% | 97,626 | $-1,284,788 | Down ×2 | ||
| CZWI Citizens Community Bancorp, Inc. - Common Stock | $4,562,336 | 0.75% | 195,055 | $482,447 | Down ×2 | ||
| INBK First Internet Bancorp - Common Stock | $4,508,493 | 0.74% | 162,176 | $1,203,346 | |||
| SABK | $4,477,698 | 0.74% | 175,596 | $407,203 | Down ×2 | ||
| CMHF | $4,471,366 | 0.74% | 125,424 | $583,222 | |||
| AMTB Amerant Bancorp Inc. Class A Common Stock | $4,440,480 | 0.73% | 174,000 | $473,280 | Down ×1 | ||
| FSBC Five Star Bancorp - Common Stock | $4,183,396 | 0.69% | 85,919 | $942,531 | |||
| SBKO | $4,108,837 | 0.68% | 184,501 | $403,593 | Down ×1 | ||
| FCPB | $4,051,237 | 0.67% | 318,995 | $-324,912 | Down ×2 | ||
| ORPB | $4,046,400 | 0.67% | 361,932 | $72,387 | |||
| BSRR Sierra Bancorp - Common Stock | $4,045,634 | 0.67% | 99,255 | $204,024 | Down ×2 | ||
| FVCB FVCBankcorp, Inc. - Common Stock | $3,746,540 | 0.62% | 214,088 | $494,543 | |||
| BLHK | $3,714,585 | 0.61% | 87,402 | $-141,495 | Down ×2 | ||
| PNFP Pinnacle Financial Partners, Inc. - Common Stock | $3,611,504 | 0.60% | 35,800 | $1,733,652 | Up ×1 | ||
| MVBF MVB Financial Corp. - Common Stock | $3,365,450 | 0.56% | 116,010 | $1,099,861 | Up ×2 | ||
| BUSE First Busey Corporation - Common Stock | $3,365,272 | 0.56% | 114,077 | $154,036 | Down ×1 | ||
| EDVR | $3,293,527 | 0.54% | 171,092 | $551,011 | Up ×2 | ||
| HOMB Home BancShares, Inc. Common Stock | $3,200,426 | 0.53% | 112,099 | Up ×1 | |||
| SHBI Shore Bancshares, Inc. - Common Stock | $3,126,777 | 0.52% | 136,243 | $-526,340 | Down ×5 | ||
| SSBI Summit State Bank - Common Stock | $2,652,702 | 0.44% | 195,627 | $-10,963 | Down ×1 | ||
| CBNK Capital Bancorp, Inc. - Common Stock | $2,644,536 | 0.44% | 75,300 | $405,114 | |||
| CBWA | $2,434,536 | 0.40% | 138,720 | $247,590 | Up ×1 | ||
| EFSI Eagle Financial Services Inc - Common Stock | $2,342,490 | 0.39% | 56,500 | $68,790 | Down ×1 | ||
| COSO CoastalSouth Bancshares, Inc. Common Stock | $2,301,448 | 0.38% | 85,715 | $193,716 | |||
| ARBV | $2,288,128 | 0.38% | 89,380 | $178,760 | |||
| RNST Renasant Corporation Common Stock | $2,206,763 | 0.36% | 51,875 | $693,819 | Up ×1 | ||
| FSBH | $2,204,575 | 0.36% | 135,250 | $40,575 | |||
| BWB Bridgewater Bancshares, Inc. - Common Stock | $2,029,918 | 0.34% | 96,479 | $233,740 | Down ×1 | ||
| FBK FB Financial Corporation Common Stock | $1,964,704 | 0.32% | 35,496 | $121,042 | |||
| USCB USCB Financial Holdings, Inc. - Class A Common Stock | $1,955,567 | 0.32% | 95,580 | $183,514 | |||
| LRBI | $1,714,236 | 0.28% | 11,429 | $793,316 | Up ×1 | ||
| Unknown issuer (CUSIP: 30137P106) | $1,696,542 | 0.28% | 47,100 | $260,934 | |||
| GNRV | $1,601,144 | 0.26% | 304,400 | $110,786 | Down ×1 | ||
| MVLY | $1,542,663 | 0.25% | 78,507 | $90,283 | |||
| TOWN Towne Bank - Common Stock | $1,478,737 | 0.24% | 40,804 | $104,866 | |||
| TBBK The Bancorp, Inc. - Common Stock | $1,477,803 | 0.24% | 23,592 | $210,205 | |||
| PPBN | $1,412,997 | 0.23% | 25,464 | $-335,448 | Down ×1 | ||
| SOME | $1,233,149 | 0.20% | 16,017 | $95,942 | |||
| PWBK | $1,155,141 | 0.19% | 92,857 | $73,357 | |||
| SOUB | $1,053,889 | 0.17% | 74,638 | $4,757 | Down ×5 | ||
| BCTF | $951,670 | 0.16% | 61,857 | $-645,842 | Down ×2 | ||
| FXNC First National Corporation - Common Stock | $941,847 | 0.16% | 31,374 | $-387,759 | Down ×3 | ||
| PBNK | $796,801 | 0.13% | 44,514 | $73,448 | |||
| SYBT Stock Yards Bancorp, Inc. - Common Stock | $764,700 | 0.13% | 10,000 | Up ×1 | |||
| BY Byline Bancorp, Inc. Common Stock | $741,224 | 0.12% | 19,682 | $-337,112 | Down ×2 | ||
| BAFN BayFirst Financial Corp. - Common Stock | $458,395 | 0.08% | 91,679 | $-123,767 | |||
| PTBS | $295,384 | 0.05% | 12,432 | $49,852 | |||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
Biggest new bets
New positions opened this quarter, largest first.
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| OSBC | Bought more | +5K | +$3.4M |
| PGC | Price move only | +0 | +$3.3M |
| AVBH | Bought more | +3K | +$3.1M |
| FSUN | Bought more | +70K | +$3.1M |
| FRST | Price move only | +0 | +$2.7M |
| MCB | Bought more | +5K | +$2.7M |
| ALRS | Price move only | +0 | +$2.6M |
| MYFW | Trimmed | -6K | +$2.4M |
| UNTY | Trimmed | -5K | +$2.3M |
| BCAL | Trimmed | -15K | +$2.3M |
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| SSBK | Sept. 30, 2025 | 382,380 | $13,907,161 | No longer tracked |
| FETM | March 31, 2025 | 291,164 | $13,102,380 | No longer tracked |
| CFB | March 31, 2025 | 638,098 | $9,667,185 | No longer tracked |
| FNBT | March 31, 2026 | 219,426 | $8,353,548 | No longer tracked |
| MCBI | June 30, 2026 | 351,330 | $8,003,297 | No longer tracked |
| TRBK | March 31, 2025 | 249,795 | $7,046,717 | No longer tracked |
| UBFO | June 30, 2026 | 532,316 | $5,594,641 | No longer tracked |
| VBTX | Dec. 31, 2025 | 157,895 | $5,294,219 | No longer tracked |
| PMHG | March 31, 2026 | 76,418 | $4,325,259 | No longer tracked |
| CBSH | June 30, 2026 | 86,774 | $4,269,281 | 1.9% |
| EBTC | Sept. 30, 2025 | 103,375 | $4,097,785 | No longer tracked |
| COFS | Dec. 31, 2025 | 135,435 | $3,922,198 | 11.3% |
| FNRN | June 30, 2026 | 234,181 | $3,721,136 | -2.8% |
| NWYF | March 31, 2025 | 103,158 | $3,676,551 | No longer tracked |
| LNKB | June 30, 2026 | 401,593 | $3,349,286 | No longer tracked |
| DCOM | Dec. 31, 2025 | 97,948 | $2,921,789 | 31.5% |
| FISI | Dec. 31, 2025 | 104,000 | $2,828,800 | 30.0% |
| FFWM | June 30, 2026 | 432,396 | $2,551,136 | No longer tracked |
| SBT | June 30, 2025 | 502,061 | $2,429,975 | No longer tracked |
| MFGI | Sept. 30, 2025 | 96,077 | $2,411,533 | No longer tracked |
| ONB | Sept. 30, 2025 | 109,251 | $2,331,416 | 17.9% |
| PSBQ | June 30, 2026 | 74,794 | $2,074,786 | No longer tracked |
| BBT | Dec. 31, 2025 | 86,206 | $2,043,944 | 20.1% |
| UBAB | March 31, 2026 | 37,117 | $1,974,624 | No longer tracked |
| DSBX | March 31, 2026 | 79,721 | $1,859,891 | No longer tracked |
| HNVR | June 30, 2026 | 76,757 | $1,657,184 | 14.4% |
| OBK | March 31, 2025 | 47,142 | $1,569,357 | 50.4% |
| WEX | Sept. 30, 2025 | 9,955 | $1,462,290 | 26.3% |
| FGFH | Dec. 31, 2025 | 38,418 | $1,250,506 | No longer tracked |
| INDB | Dec. 31, 2025 | 16,449 | $1,137,777 | 14.0% |
| ACNB | June 30, 2025 | 26,767 | $1,101,730 | 47.0% |
| TRCY | Dec. 31, 2025 | 65,076 | $1,067,897 | No longer tracked |
| SBNC | Sept. 30, 2025 | 124 | $1,041,600 | No longer tracked |
| BKOR | March 31, 2025 | 47,364 | $980,435 | No longer tracked |
| HTBK | June 30, 2026 | 75,139 | $937,735 | No longer tracked |
| MLGF | Dec. 31, 2025 | 41,269 | $847,253 | No longer tracked |
| NPB | Sept. 30, 2025 | 60,000 | $822,600 | -1.5% |
| BORT | March 31, 2026 | 16,504 | $726,176 | No longer tracked |
| CNBW | Dec. 31, 2025 | 8,348 | $667,840 | No longer tracked |
| HBNC | Dec. 31, 2025 | 35,000 | $560,350 | 15.2% |
| FCOB | Sept. 30, 2025 | 29,457 | $477,203 | No longer tracked |
| FCCO | June 30, 2026 | 16,317 | $476,946 | 3.2% |
| HBT | March 31, 2026 | 18,403 | $475,718 | 31.7% |
| VBNK | March 31, 2025 | 30,000 | $415,500 | 88.6% |
| LOB | Dec. 31, 2025 | 10,350 | $364,527 | 18.0% |
| ESBS | March 31, 2025 | 28,245 | $183,593 | No longer tracked |
| FFMH | Dec. 31, 2025 | 2,629 | $116,333 | No longer tracked |
| RVSB | June 30, 2025 | 7,964 | $44,997 | -7.5% |