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BANC FUNDS CO LLC

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13F filer, CIK 1029311, CHICAGO, IL

BANC FUNDS CO LLC reported $505,198,862 across 98 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-12. Its ten largest share positions make up 28.73% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001029311-26-000002

Period
2025-12-31
Reported value
$505M
Holdings
98
Top 10 weight
28.73%
New
0
Sold out
13

Largest buys vs the previous quarter

SecurityShares changeApprox. value
RCBCadded+88,211$3.87M
CCNBadded+137,769$1.79M
FSUNadded+5,784$218K
CBNKadded+7,000$197K
AMTBadded+10,000$195K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
FINEMARK HOLDINGS INCreduced-165,739-$6.31M
BUSEreduced-256,152-$6.09M
VERITEX HLDGS INCexited-157,895-$5.29M
COFSexited-135,435-$3.92M
UNTYreduced-65,749-$3.4M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001029311-26-000002, largest first. % of portfolio is the value over $505,198,862, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
UNTYUNITY BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 840,044 shares; 2024Q4: 715,044 shares; 2025Q1: 604,944 shares; 2025Q2: 524,218 shares; 2025Q3: 441,218 shares; 2025Q4: 375,469 shares 375,469$19.4M3.84%-65,749Timeline
OSBCOLD SECOND BANCORP INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,754,288 shares; 2024Q4: 1,616,078 shares; 2025Q1: 1,284,578 shares; 2025Q2: 1,157,378 shares; 2025Q3: 1,006,378 shares; 2025Q4: 905,190 shares 905,190$17.7M3.49%-101,188Timeline
AMBZAMERICAN BUSINESS BANK LA CALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 570,335 shares; 2024Q4: 555,133 shares; 2025Q1: 481,822 shares; 2025Q2: 347,447 shares; 2025Q3: 289,029 shares; 2025Q4: 260,773 shares 260,773$16.9M3.34%-28,256Timeline
PBAMPRIVATE BANCORP OF AMER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 411,565 shares; 2024Q4: 386,706 shares; 2025Q1: 358,352 shares; 2025Q2: 332,531 shares; 2025Q3: 280,502 shares; 2025Q4: 283,759 shares 283,759$16.3M3.23%+3,257Timeline
AVBHAVIDBANK HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 713,197 shares; 2024Q4: 718,797 shares; 2025Q1: 735,277 shares; 2025Q2: 670,039 shares; 2025Q3: 677,719 shares; 2025Q4: 596,430 shares 596,430$15.8M3.14%-81,289Timeline
BCALCALIFORNIA BANCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,412,186 shares; 2024Q4: 1,330,365 shares; 2025Q1: 1,181,878 shares; 2025Q2: 993,400 shares; 2025Q3: 835,480 shares; 2025Q4: 766,155 shares 766,155$14.3M2.83%-69,325Timeline
WCCBWEST COAST COMMUNITY BANCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 466,527 shares; 2024Q4: 500,988 shares; 2025Q1: 427,642 shares; 2025Q2: 363,820 shares; 2025Q3: 301,055 shares; 2025Q4: 273,451 shares 273,451$12M2.38%-27,604Timeline
FRSTPRIMIS FINANCIAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,713,963 shares; 2024Q4: 1,713,963 shares; 2025Q1: 1,601,360 shares; 2025Q2: 1,369,088 shares; 2025Q3: 892,422 shares; 2025Q4: 788,761 shares 788,761$11M2.17%-103,661Timeline
TCBITEXAS CAP BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 231,205 shares; 2024Q4: 231,205 shares; 2025Q1: 179,205 shares; 2025Q2: 149,205 shares; 2025Q3: 133,205 shares; 2025Q4: 119,762 shares 119,762$10.8M2.15%-13,443Timeline
FRBAFIRST BK WILLIAMSTOWN NEW JEQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,504,192 shares; 2024Q4: 1,499,192 shares; 2025Q1: 1,203,049 shares; 2025Q2: 991,249 shares; 2025Q3: 776,059 shares; 2025Q4: 658,439 shares 658,439$10.8M2.15%-117,620Timeline
BANCBANC OF CALIFORNIA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,053,629 shares; 2024Q4: 1,053,629 shares; 2025Q1: 986,629 shares; 2025Q2: 741,545 shares; 2025Q3: 615,764 shares; 2025Q4: 519,738 shares 519,738$10M1.98%-96,026Timeline
MCBMETROPOLITAN BK HLDG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 240,254 shares; 2024Q4: 243,254 shares; 2025Q1: 232,254 shares; 2025Q2: 159,054 shares; 2025Q3: 146,736 shares; 2025Q4: 128,821 shares 128,821$9.84M1.95%-17,915Timeline
ALPIBALPINE BKS COLO CL B COM (CO)Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 346,490 shares; 2024Q4: 344,490 shares; 2025Q1: 322,498 shares; 2025Q2: 315,338 shares; 2025Q3: 275,198 shares; 2025Q4: 237,315 shares 237,315$9.45M1.87%-37,883Timeline
MYFWFIRST WESTN FINL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 722,320 shares; 2024Q4: 636,177 shares; 2025Q1: 636,177 shares; 2025Q2: 490,521 shares; 2025Q3: 414,629 shares; 2025Q4: 346,090 shares 346,090$9.28M1.84%-68,539Timeline
FBIZFIRST BUSINESS FINL SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 401,626 shares; 2024Q4: 333,443 shares; 2025Q1: 274,277 shares; 2025Q2: 264,477 shares; 2025Q3: 193,524 shares; 2025Q4: 166,224 shares 166,224$9.03M1.79%-27,300Timeline
SFSTSOUTHERN FIRST BANCSHARESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 370,243 shares; 2024Q4: 319,035 shares; 2025Q1: 299,920 shares; 2025Q2: 286,704 shares; 2025Q3: 205,874 shares; 2025Q4: 171,655 shares 171,655$8.84M1.75%-34,219Timeline
BRBSBLUE RIDGE BANKSHARES INC VAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,130,722 shares; 2024Q4: 2,634,722 shares; 2025Q1: 2,506,902 shares; 2025Q2: 2,341,902 shares; 2025Q3: 2,144,949 shares; 2025Q4: 2,029,033 shares 2,029,033$8.66M1.71%-115,916Timeline
MNSBMAINSTREET BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 651,014 shares; 2024Q4: 651,014 shares; 2025Q1: 651,014 shares; 2025Q2: 651,014 shares; 2025Q3: 573,373 shares; 2025Q4: 421,981 shares 421,981$8.59M1.7%-151,392Timeline
FINEMARK HOLDINGS INCFINEMARK HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 726,244 shares; 2024Q4: 726,244 shares; 2025Q1: 650,172 shares; 2025Q2: 535,265 shares; 2025Q3: 385,165 shares; 2025Q4: 219,426 shares 219,426$8.35M1.65%-165,739
MBINMERCHANTS BANCORP INDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 389,615 shares; 2024Q4: 400,615 shares; 2025Q1: 385,915 shares; 2025Q2: 385,790 shares; 2025Q3: 340,690 shares; 2025Q4: 244,462 shares 244,462$8.33M1.65%-96,228Timeline
PGCPEAPACK-GLADSTONE FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 602,799 shares; 2024Q4: 580,799 shares; 2025Q1: 473,399 shares; 2025Q2: 462,399 shares; 2025Q3: 315,099 shares; 2025Q4: 297,747 shares 297,747$8.29M1.64%-17,352Timeline
ISTRINVESTAR HOLDING CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 583,925 shares; 2024Q4: 522,117 shares; 2025Q1: 510,906 shares; 2025Q2: 480,906 shares; 2025Q3: 371,102 shares; 2025Q4: 306,896 shares 306,896$8.2M1.62%-64,206Timeline
MCBIMOUNTAIN COMM BANCORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 572,510 shares; 2024Q4: 572,510 shares; 2025Q1: 512,310 shares; 2025Q2: 464,783 shares; 2025Q3: 356,864 shares; 2025Q4: 351,330 shares 351,330$8.03M1.59%-5,534Timeline
CBANCOLONY BANKCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 983,813 shares; 2024Q4: 870,859 shares; 2025Q1: 700,359 shares; 2025Q2: 621,159 shares; 2025Q3: 540,245 shares; 2025Q4: 427,478 shares 427,478$7.62M1.51%-112,767Timeline
FBKFB FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 178,496 shares; 2025Q4: 133,496 shares 133,496$7.45M1.47%-45,000Timeline
SMBKSMARTFINANCIAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 514,713 shares; 2024Q4: 362,433 shares; 2025Q1: 294,911 shares; 2025Q2: 200,587 shares; 2025Q3: 200,587 shares; 2025Q4: 200,587 shares 200,587$7.42M1.47%0Timeline
TFINTRIUMPH FINANCIAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 264,243 shares; 2024Q4: 222,894 shares; 2025Q1: 192,394 shares; 2025Q2: 189,394 shares; 2025Q3: 139,845 shares; 2025Q4: 117,136 shares 117,136$7.34M1.45%-22,709Timeline
MPBMID PENN BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 362,552 shares; 2024Q4: 412,552 shares; 2025Q1: 412,552 shares; 2025Q2: 375,786 shares; 2025Q3: 207,982 shares; 2025Q4: 207,982 shares 207,982$6.45M1.28%0Timeline
FSUNFIRSTSUN CAP BANCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 221,396 shares; 2024Q4: 221,396 shares; 2025Q1: 187,705 shares; 2025Q2: 163,705 shares; 2025Q3: 162,705 shares; 2025Q4: 168,489 shares 168,489$6.34M1.26%+5,784Timeline
MBWMMERCANTILE BK CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 305,847 shares; 2024Q4: 244,452 shares; 2025Q1: 215,452 shares; 2025Q2: 195,152 shares; 2025Q3: 160,252 shares; 2025Q4: 130,841 shares 130,841$6.29M1.25%-29,411Timeline
CCNBCOASTAL CAROLINA BANCSHARESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 304,492 shares; 2024Q4: 305,596 shares; 2025Q1: 357,232 shares; 2025Q2: 324,238 shares; 2025Q3: 329,002 shares; 2025Q4: 466,771 shares 466,771$6.06M1.2%+137,769Timeline
TCBXTHIRD COAST BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 432,745 shares; 2024Q4: 315,267 shares; 2025Q1: 268,649 shares; 2025Q2: 215,383 shares; 2025Q3: 179,383 shares; 2025Q4: 157,506 shares 157,506$5.99M1.19%-21,877Timeline
CNOBCONNECTONE BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 489,086 shares; 2024Q4: 479,086 shares; 2025Q1: 475,086 shares; 2025Q2: 342,186 shares; 2025Q3: 241,186 shares; 2025Q4: 227,795 shares 227,795$5.97M1.18%-13,391Timeline
CCNECNB FINL CORP PAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 481,576 shares; 2024Q4: 426,776 shares; 2025Q1: 401,776 shares; 2025Q2: 406,776 shares; 2025Q3: 271,776 shares; 2025Q4: 217,175 shares 217,175$5.68M1.12%-54,601Timeline
MRBKMERIDIAN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 829,153 shares; 2024Q4: 761,309 shares; 2025Q1: 659,104 shares; 2025Q2: 600,415 shares; 2025Q3: 452,838 shares; 2025Q4: 320,919 shares 320,919$5.64M1.12%-131,919Timeline
OBTORANGE CNTY BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 287,872 shares; 2024Q4: 238,025 shares; 2025Q1: 433,632 shares; 2025Q2: 329,956 shares; 2025Q3: 247,853 shares; 2025Q4: 197,536 shares 197,536$5.64M1.12%-50,317Timeline
UBFOUNITED SEC BANCSHARES CALIFQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 573,139 shares; 2024Q4: 573,139 shares; 2025Q1: 545,672 shares; 2025Q2: 536,316 shares; 2025Q3: 536,316 shares; 2025Q4: 536,316 shares 536,316$5.4M1.07%0Timeline
BPRNPRINCETON BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 340,716 shares; 2024Q4: 314,428 shares; 2025Q1: 315,428 shares; 2025Q2: 153,926 shares; 2025Q3: 153,926 shares; 2025Q4: 153,926 shares 153,926$5.34M1.06%0Timeline
BSVNBANK7 CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 305,136 shares; 2024Q4: 232,036 shares; 2025Q1: 171,836 shares; 2025Q2: 128,519 shares; 2025Q3: 128,519 shares; 2025Q4: 128,519 shares 128,519$5.27M1.04%0Timeline
STBKSTUDIO FINL HLDGS INC COM(TN)Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 344,415 shares; 2024Q4: 409,215 shares; 2025Q1: 409,215 shares; 2025Q2: 425,956 shares; 2025Q3: 425,956 shares; 2025Q4: 425,956 shares 425,956$5.05M1%0Timeline
BFSTBUSINESS FIRST BANCSHARES INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 462,494 shares; 2024Q4: 478,494 shares; 2025Q1: 408,145 shares; 2025Q2: 347,116 shares; 2025Q3: 269,264 shares; 2025Q4: 190,549 shares 190,549$4.98M0.99%-78,715Timeline
ALRSALERUS FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 543,586 shares; 2024Q4: 510,299 shares; 2025Q1: 451,641 shares; 2025Q2: 398,538 shares; 2025Q3: 282,453 shares; 2025Q4: 214,967 shares 214,967$4.84M0.96%-67,486Timeline
RCBCRIVER CITY BK SACRAMENTO CALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 22,168 shares; 2024Q4: 20,171 shares; 2025Q1: 19,837 shares; 2025Q2: 13,720 shares; 2025Q3: 12,559 shares; 2025Q4: 100,770 shares 100,770$4.42M0.88%+88,211Timeline
BWFGBANKWELL FINL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 282,623 shares; 2024Q4: 249,423 shares; 2025Q1: 159,377 shares; 2025Q2: 126,377 shares; 2025Q3: 108,423 shares; 2025Q4: 96,423 shares 96,423$4.42M0.87%-12,000Timeline
WRIVWHITE RIV BANCSHARES CO COM (AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 137,422 shares; 2024Q4: 137,422 shares; 2025Q1: 99,000 shares; 2025Q2: 99,000 shares; 2025Q3: 89,000 shares; 2025Q4: 89,000 shares 89,000$4.4M0.87%0Timeline
CZWICITIZENS CMNTY BANCORP INC MQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 559,970 shares; 2024Q4: 508,221 shares; 2025Q1: 468,742 shares; 2025Q2: 411,996 shares; 2025Q3: 246,286 shares; 2025Q4: 246,286 shares 246,286$4.39M0.87%0Timeline
Prime Meridian Holding Comp…Prime Meridian Holding CompanyQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 215,076 shares; 2024Q4: 202,376 shares; 2025Q1: 90,128 shares; 2025Q2: 76,418 shares; 2025Q3: 76,418 shares; 2025Q4: 76,418 shares 76,418$4.33M0.86%0
FSRLFIRST RELIANCE BANCSHARES, INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 537,984 shares; 2024Q4: 558,884 shares; 2025Q1: 495,884 shares; 2025Q2: 493,284 shares; 2025Q3: 350,913 shares; 2025Q4: 350,913 shares 350,913$4.3M0.85%0Timeline
FCPBFIRST CAPITAL BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 382,816 shares; 2024Q4: 382,816 shares; 2025Q1: 368,316 shares; 2025Q2: 368,316 shares; 2025Q3: 360,816 shares; 2025Q4: 360,816 shares 360,816$4.21M0.83%0Timeline
Oregon Pacific BancorpOregon Pacific BancorpQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 661,386 shares; 2024Q4: 661,386 shares; 2025Q1: 644,986 shares; 2025Q2: 631,086 shares; 2025Q3: 384,086 shares; 2025Q4: 361,932 shares 361,932$4.09M0.81%-22,154
FNRNFIRST NORTHN CMNTY BANCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 840,537 shares; 2024Q4: 840,537 shares; 2025Q1: 882,564 shares; 2025Q2: 715,588 shares; 2025Q3: 423,238 shares; 2025Q4: 301,697 shares 301,697$4.03M0.8%-121,541Timeline
BSRRSIERRA BANCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 369,283 shares; 2024Q4: 226,731 shares; 2025Q1: 153,831 shares; 2025Q2: 121,424 shares; 2025Q3: 121,424 shares; 2025Q4: 121,424 shares 121,424$3.97M0.79%0Timeline
SHBISHORE BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 461,954 shares; 2024Q4: 398,809 shares; 2025Q1: 403,809 shares; 2025Q2: 303,809 shares; 2025Q3: 239,894 shares; 2025Q4: 204,563 shares 204,563$3.62M0.72%-35,331Timeline
SABKSOUTH ATLANTIC BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 379,689 shares; 2024Q4: 366,635 shares; 2025Q1: 308,952 shares; 2025Q2: 179,496 shares; 2025Q3: 179,496 shares; 2025Q4: 179,496 shares 179,496$3.55M0.7%0Timeline
AMTBAMERANT BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 160,000 shares; 2024Q4: 160,000 shares; 2025Q1: 165,000 shares; 2025Q2: 170,000 shares; 2025Q3: 170,000 shares; 2025Q4: 180,000 shares 180,000$3.51M0.7%+10,000Timeline
FSBCFIVE STAR BANCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 148,919 shares; 2024Q4: 148,919 shares; 2025Q1: 124,919 shares; 2025Q2: 95,919 shares; 2025Q3: 95,919 shares; 2025Q4: 95,919 shares 95,919$3.43M0.68%0Timeline
SBKOSUMMIT BK GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 190,501 shares; 2024Q4: 190,501 shares; 2025Q1: 190,501 shares; 2025Q2: 190,501 shares; 2025Q3: 190,501 shares; 2025Q4: 190,501 shares 190,501$3.43M0.68%0Timeline
INBKFIRST INTERNET BANCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 364,296 shares; 2024Q4: 364,296 shares; 2025Q1: 350,296 shares; 2025Q2: 350,296 shares; 2025Q3: 276,396 shares; 2025Q4: 162,176 shares 162,176$3.38M0.67%-114,220Timeline
LNKBLINKBANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 864,241 shares; 2024Q4: 831,094 shares; 2025Q1: 623,533 shares; 2025Q2: 623,533 shares; 2025Q3: 537,657 shares; 2025Q4: 401,593 shares 401,593$3.32M0.66%-136,064Timeline
BLHKBlueHarbor Bank (NC) Common StQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 106,602 shares; 2024Q4: 106,602 shares; 2025Q1: 106,602 shares; 2025Q2: 96,602 shares; 2025Q3: 96,602 shares; 2025Q4: 96,602 shares 96,602$3.01M0.6%0Timeline
FVCBFVCBANKCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 280,121 shares; 2024Q4: 280,121 shares; 2025Q1: 269,121 shares; 2025Q2: 214,088 shares; 2025Q3: 214,088 shares; 2025Q4: 214,088 shares 214,088$2.98M0.59%0Timeline
FFWMFIRST FNDTN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,353,054 shares; 2024Q4: 1,306,054 shares; 2025Q1: 1,306,054 shares; 2025Q2: 1,143,054 shares; 2025Q3: 642,158 shares; 2025Q4: 432,396 shares 432,396$2.66M0.53%-209,762Timeline
EFSIEAGLE FINL SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 65,000 shares; 2025Q2: 65,000 shares; 2025Q3: 65,000 shares; 2025Q4: 65,000 shares 65,000$2.59M0.51%0Timeline
CMHFCOMMUNITY HERITAGE FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 203,558 shares; 2024Q4: 203,558 shares; 2025Q1: 191,558 shares; 2025Q2: 143,258 shares; 2025Q3: 130,258 shares; 2025Q4: 95,982 shares 95,982$2.58M0.51%-34,276Timeline
ARBVAMERICAN RIVIERA BANCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 322,046 shares; 2024Q4: 264,546 shares; 2025Q1: 222,152 shares; 2025Q2: 147,189 shares; 2025Q3: 133,989 shares; 2025Q4: 94,311 shares 94,311$2.25M0.45%-39,678Timeline
SSBISUMMIT ST BK SANTA ROSA CALIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 429,395 shares; 2024Q4: 429,395 shares; 2025Q1: 429,395 shares; 2025Q2: 385,128 shares; 2025Q3: 323,108 shares; 2025Q4: 193,227 shares 193,227$2.25M0.44%-129,881Timeline
Bancorp 34 IncBancorp 34 IncQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 162,857 shares; 2024Q4: 162,857 shares; 2025Q1: 162,857 shares; 2025Q2: 162,857 shares; 2025Q3: 162,857 shares; 2025Q4: 162,857 shares 162,857$2.22M0.44%0
HNVRHANOVER BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 136,929 shares; 2025Q3: 136,929 shares; 2025Q4: 95,460 shares 95,460$2.21M0.44%-41,469Timeline
CBWACOMMENCEMENT BANCORP INC (WA)Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 256,860 shares; 2024Q4: 203,360 shares; 2025Q1: 165,960 shares; 2025Q2: 161,960 shares; 2025Q3: 130,720 shares; 2025Q4: 130,720 shares 130,720$2.18M0.43%0Timeline
FSBHFSBH CORP COMQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 234,250 shares; 2024Q4: 234,250 shares; 2025Q1: 234,250 shares; 2025Q2: 234,250 shares; 2025Q3: 135,250 shares; 2025Q4: 135,250 shares 135,250$2.16M0.43%0Timeline
PSBQPSB HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 250,956 shares; 2024Q4: 241,953 shares; 2025Q1: 175,973 shares; 2025Q2: 118,094 shares; 2025Q3: 118,094 shares; 2025Q4: 77,794 shares 77,794$2.03M0.4%-40,300Timeline
COSOCOASTALSOUTH BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 292,473 shares; 2024Q4: 271,238 shares; 2025Q1: 254,557 shares; 2025Q2: 247,605 shares; 2025Q3: 85,715 shares; 2025Q4: 85,715 shares 85,715$1.99M0.39%0Timeline
UBABUNITED BANCORPORATION OF ALA IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 127,413 shares; 2024Q4: 110,813 shares; 2025Q1: 110,813 shares; 2025Q2: 43,474 shares; 2025Q3: 43,474 shares; 2025Q4: 37,117 shares 37,117$1.97M0.39%-6,357Timeline
Dogwood State BankDogwood State BankQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 79,721 shares; 2024Q4: 79,721 shares; 2025Q1: 79,721 shares; 2025Q2: 79,721 shares; 2025Q3: 79,721 shares; 2025Q4: 79,721 shares 79,721$1.86M0.37%0
BUSEFIRST BUSEY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 430,929 shares; 2025Q2: 405,929 shares; 2025Q3: 331,729 shares; 2025Q4: 75,577 shares 75,577$1.8M0.36%-256,152Timeline
BWBBRIDGEWATER BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 119,479 shares; 2024Q4: 119,479 shares; 2025Q1: 119,479 shares; 2025Q2: 101,479 shares; 2025Q3: 101,479 shares; 2025Q4: 101,479 shares 101,479$1.78M0.35%0Timeline
USCBUSCB FINANCIAL HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 149,230 shares; 2024Q4: 149,230 shares; 2025Q1: 149,230 shares; 2025Q2: 149,230 shares; 2025Q3: 125,419 shares; 2025Q4: 95,580 shares 95,580$1.76M0.35%-29,839Timeline
Endeavor BancorpEndeavor BancorpQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 83,891 shares; 2024Q4: 104,091 shares; 2025Q1: 104,091 shares; 2025Q2: 101,072 shares; 2025Q3: 101,072 shares; 2025Q4: 101,072 shares 101,072$1.72M0.34%0
PPBNPINNACLE BANKSHARES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 79,682 shares; 2024Q4: 79,682 shares; 2025Q1: 57,682 shares; 2025Q2: 48,382 shares; 2025Q3: 37,464 shares; 2025Q4: 37,464 shares 37,464$1.7M0.34%0Timeline
TBBKBANCORP INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 45,592 shares; 2024Q4: 45,592 shares; 2025Q1: 23,592 shares; 2025Q2: 23,592 shares; 2025Q3: 23,592 shares; 2025Q4: 23,592 shares 23,592$1.59M0.32%0Timeline
FXNCFIRST NATL CORP VAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 172,291 shares; 2024Q4: 97,579 shares; 2025Q1: 92,385 shares; 2025Q2: 65,880 shares; 2025Q3: 65,880 shares; 2025Q4: 60,492 shares 60,492$1.53M0.3%-5,388Timeline
RNSTRENASANT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 46,875 shares; 2024Q4: 46,875 shares; 2025Q1: 41,875 shares; 2025Q2: 41,875 shares; 2025Q3: 41,875 shares; 2025Q4: 41,875 shares 41,875$1.47M0.29%0Timeline
HTBKHERITAGE COMM CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 272,839 shares; 2024Q4: 174,539 shares; 2025Q1: 169,539 shares; 2025Q2: 121,539 shares; 2025Q3: 121,539 shares; 2025Q4: 121,539 shares 121,539$1.46M0.29%0Timeline
MVLYMISSION VALLEY BANCORP (SUN VAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 163,742 shares; 2024Q4: 148,742 shares; 2025Q1: 120,617 shares; 2025Q2: 105,117 shares; 2025Q3: 100,117 shares; 2025Q4: 78,507 shares 78,507$1.37M0.27%-21,610Timeline
Grand River Commerce, Inc.Grand River Commerce, Inc.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 675,014 shares; 2024Q4: 675,014 shares; 2025Q1: 675,014 shares; 2025Q2: 675,014 shares; 2025Q3: 588,403 shares; 2025Q4: 357,400 shares 357,400$1.36M0.27%-231,003
F&M Bank CorpF&M Bank CorpQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 47,100 shares; 2025Q4: 47,100 shares 47,100$1.35M0.27%0
FCCOFIRST CMNTY CORP S CQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 139,424 shares; 2024Q4: 91,645 shares; 2025Q1: 91,645 shares; 2025Q2: 41,317 shares; 2025Q3: 41,317 shares; 2025Q4: 41,317 shares 41,317$1.23M0.24%0Timeline
BYBYLINE BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 96,890 shares; 2024Q4: 117,612 shares; 2025Q1: 121,612 shares; 2025Q2: 107,612 shares; 2025Q3: 39,157 shares; 2025Q4: 39,157 shares 39,157$1.14M0.23%0Timeline
SOUBSOUTHPOINT BANCSHARES INC COMQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 109,704 shares; 2024Q4: 113,664 shares; 2025Q1: 118,564 shares; 2025Q2: 113,414 shares; 2025Q3: 102,414 shares; 2025Q4: 78,438 shares 78,438$1.13M0.22%-23,976Timeline
PWBKPACIFIC WEST BANCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 145,715 shares; 2024Q4: 145,715 shares; 2025Q1: 145,715 shares; 2025Q2: 135,715 shares; 2025Q3: 135,715 shares; 2025Q4: 92,857 shares 92,857$1.11M0.22%-42,858Timeline
MVBFMVB FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 109,189 shares; 2024Q4: 109,189 shares; 2025Q1: 109,189 shares; 2025Q2: 62,789 shares; 2025Q3: 35,044 shares; 2025Q4: 35,044 shares 35,044$905K0.18%0Timeline
PBNKPINNALCE BANK GILROY CAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 92,128 shares; 2024Q4: 92,128 shares; 2025Q1: 69,512 shares; 2025Q2: 63,514 shares; 2025Q3: 53,514 shares; 2025Q4: 44,514 shares 44,514$861K0.17%-9,000Timeline
SOMESOMERSET TRUST HOLDING COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 9,096 shares; 2025Q1: 10,887 shares; 2025Q2: 11,787 shares; 2025Q3: 11,787 shares; 2025Q4: 11,787 shares 11,787$790K0.16%0Timeline
BORTBANK OF BOTETOURT BUCHANAN VAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 36,624 shares; 2024Q4: 36,624 shares; 2025Q1: 30,624 shares; 2025Q2: 16,504 shares; 2025Q3: 16,504 shares; 2025Q4: 16,504 shares 16,504$726K0.14%0Timeline
BAFNBAYFIRST FINANCIAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 150,272 shares; 2024Q4: 150,272 shares; 2025Q1: 150,272 shares; 2025Q2: 125,272 shares; 2025Q3: 169,772 shares; 2025Q4: 91,679 shares 91,679$720K0.14%-78,093Timeline
CBNKCAPITAL BANCORP INC MDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 24,022 shares; 2024Q4: 24,022 shares; 2025Q1: 24,022 shares; 2025Q2: 14,400 shares; 2025Q3: 14,400 shares; 2025Q4: 21,400 shares 21,400$603K0.12%+7,000Timeline
HBTHBT FINL INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 72,544 shares; 2024Q4: 18,403 shares; 2025Q1: 18,403 shares; 2025Q2: 18,403 shares; 2025Q3: 18,403 shares; 2025Q4: 18,403 shares 18,403$476K0.09%0Timeline
PTBSPOTOMAC BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 33,492 shares; 2024Q4: 33,492 shares; 2025Q1: 32,292 shares; 2025Q2: 27,792 shares; 2025Q3: 27,420 shares; 2025Q4: 2,896 shares 2,896$54.7K0.01%-24,524Timeline

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
VERITEX HLDGS INCVERITEX HLDGS INC157,895$5.29Mshares
COFSCHOICEONE FINANCIA135,435$3.92Mshares
DCOMDIME COML BANCSHARES INC97,948$2.92Mshares
FISIFINANCIAL INSTITUTIONS INC104,000$2.83Mshares
BBTBEACON FINANCIAL CORP.86,206$2.04Mshares
FGFHFORESIGHT FINANCIAL GR INC38,418$1.25Mshares
INDBINDEPENDENT BK CORP MASS16,449$1.14Mshares
TRCYTRI CITY BANKSHARES CORP CMT65,076$1.07Mshares
MLGFMALAGA FINACIAL CORP41,269$847Kshares
CNB CORP CDT COM ISSUE INAC…CNB CORP CDT COM ISSUE INACTIVE8,348$668Kshares
HBNCHORIZON BANCORP IND35,000$560Kshares
LOBLIVE OAK BANCSHARES INC10,350$365Kshares
FFMHFIRST FMRS & MERCHANTS CORP CO2,629$116Kshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001029311-26-000002 base2026-02-12acceptance time not in the bulk data set