BF
Banc Funds Co LLC 13F Portfolio Snapshot & Holdings (Q2 2026)
Banc Funds Co LLCCIK: 0001029311
Diversified strategySector-focusedMomentum follower
Total reported value
$605.5M
Reporting period: 2026-06-30 · Number of holdings: 92
BANC FUNDS CO LLC disclosed 92 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $605.5M and a quarterly turnover rate of 25.5%.
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Personality snowflake
- Concentration
- 7.44
- Portfolio Stability
- 25.52
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 100
- Sizing Uniformity
- 91.52
Banc Funds Co LLC's disclosed holdings carry a Herfindahl concentration index of 0.019 — mathematically equivalent to about 54 equally-sized positions, well below its 92 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.85), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 3% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy 31943F200
Sold out MCBI
New buy 204157101
Sold out UBFO
New buy BHRB
Sold out CBSH
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | OSBC | Old Second Bancorp Inc | Stock-Other | 3.98% | +0.12% | +0.49% | |
| 2 | PBAM | Private Bancorp Of America I | Stock-Other | 3.84% | -0.08% | +1.29% | |
| 3 | AVBH | Avidbank Holdings Inc | Stock-Other | 3.64% | +0.11% | +0.45% | |
| 4 | UNTY | Unity Bancorp Inc | Stock-Other | 3.59% | -0.03% | -1.33% | |
| 5 | ✓ | Stock-Other | 2.93% | +2.93% | NEW | ||
| 6 | BCAL | California Bancorp | Stock-Other | 2.81% | +0.07% | -1.80% | |
| 7 | AMBZ | American Business Bank | Stock-Other | 2.75% | -0.50% | -6.75% | |
| 8 | FRBA | First Bank/hamilton Nj | Stock-Other | 2.53% | -0.04% | — | |
| 9 | WCCB | West Coast Community Bancorp | Stock-Other | 2.49% | +0.04% | +8.95% | |
| 10 | MCB | Metropolitan Bank Holding Co | Stock-Other | 2.40% | +0.19% | +3.52% | |
| 11 | FRST | Primis Financial CORP | Stock-Other | 2.36% | +0.20% | — | |
| 12 | MBIN | Merchants Bancorp/in | Stock-Other | 2.35% | +0.10% | +1.42% | |
| 13 | MNSB | Mainstreet Bancshares Inc | Stock-Other | 2.23% | +0.04% | +2.78% | |
| 14 | PGC | Peapack Gladstone Finl CORP | Stock-Other | 2.14% | +0.34% | — | |
| 15 | TCBI | Texas Capital Bancshares Inc | Stock-Financials | 2.04% | -0.08% | — | |
| 16 | MYFW | First Western Financial Inc | Stock-Other | 1.82% | +0.23% | -1.72% | |
| 17 | ALRS | Alerus Financial CORP | Stock-Other | 1.79% | +0.25% | — | |
| 18 | BANC | Banc Of California Inc | Stock-Other | 1.75% | +0.05% | — | |
| 19 | CNOB | Connectone Bancorp Inc | Stock-Other | 1.71% | +0.16% | — | |
| 20 | FBIZ | First Business Financial Ser | Stock-Other | 1.70% | +0.03% | -1.80% | |
| 21 | SFST | Southern First Bancshares | Stock-Other | 1.64% | -0.10% | -5.24% | |
| 22 | ALPIB | Alpine Banks Of Colorado-b | Stock-Other | 1.62% | -0.20% | — | |
| 23 | FSUN | Firstsun Capital Bancorp | Stock-Other | 1.52% | +0.38% | +41.27% | |
| 24 | ISTR | Investar Holding CORP | Stock-Other | 1.52% | -0.01% | — | |
| 25 | TFIN | Triumph Financial Inc | Stock-Other | 1.48% | +0.18% | — | |
| 26 | CBAN | Colony Bankcorp | Stock-Other | 1.46% | -0.10% | +5.24% | |
| 27 | CCNB | Coastal Carolina Bancshares | Stock-Other | 1.37% | +0.16% | +5.42% | |
| 28 | MRBK | Meridian CORP | Stock-Other | 1.27% | -0.03% | +3.57% | |
| 29 | MBWM | Mercantile Bank CORP | Stock-Other | 1.24% | +0.01% | — | |
| 30 | CCNE | Cnb Financial Corp/pa | Stock-Other | 1.24% | +0.04% | — | |
| 31 | MPB | Mid Penn Bancorp Inc | Stock-Other | 1.20% | -0.05% | — | |
| 32 | BFST | Business First Bancshares | Stock-Other | 1.19% | +0.01% | — | |
| 33 | OBT | Orange County Bancorp Inc | Stock-Other | 1.13% | -0.05% | -5.82% | |
| 34 | TCBX | Third Coast Bancshares Inc | Stock-Other | 1.13% | -0.06% | — | |
| 35 | BRBS | Blue Ridge Bankshares Inc | Stock-Other | 1.10% | -0.38% | — | |
| 36 | ✓ | Cmnty Wst Banc | Stock-Other | 1.07% | +1.07% | NEW | |
| 37 | BSVN | Bank7 CORP | Stock-Other | 1.04% | +0.09% | — | |
| 38 | BHRB | Burke & Herbert Financial Se | Stock-Other | 0.98% | +0.98% | NEW | |
| 39 | BPRN | Princeton Bancorp Inc | Stock-Other | 0.96% | -0.01% | — | |
| 40 | STBK | Studio Financial Holdings In | Stock-Other | 0.93% | -0.04% | — | |
| 41 | RCBC | River City Bank/ca | Stock-Other | 0.92% | +0.13% | +26.35% | |
| 42 | FSRL | First Reliance Bancshares In | Stock-Other | 0.91% | +0.03% | -12.84% | |
| 43 | BWFG | Bankwell Financial Group Inc | Stock-Other | 0.88% | +0.01% | -6.22% | |
| 44 | BSFO | Bank Of San Francisco | Stock-Other | 0.84% | +0.04% | +1.74% | |
| 45 | WRIV | White River Bancshares Co | Stock-Other | 0.80% | -0.08% | — | |
| 46 | SMBK | Smartfinancial Inc | Stock-Other | 0.76% | -0.33% | -34.95% | |
| 47 | CZWI | Citizens Community Bancorp I | Stock-Other | 0.75% | -0.01% | -5.34% | |
| 48 | INBK | First Internet Bancorp | Stock-Other | 0.74% | +0.12% | — | |
| 49 | SABK | South Atlantic Bancshares | Stock-Other | 0.74% | -0.02% | -2.12% | |
| 50 | CMHF | Community Heritage Financial | Stock-Other | 0.74% | +0.02% | — |
1–50 of 92
Portfolio Performance
Performance for Q3 2026
+10.7%
Performance Last 4 Quarters
+31.5%
- Stdev
- +18.6%
- Beta
- +0.68
- Alpha
- +9.5%
- Max Drawdown
- -13.2%
- Annualized Perf
- +23.6%
- Batting Avg vs S&P
- +33.3%
- Sortino
- +2.93
- Stutzer
- +0.38
- Treynor
- +0.34
- Sterling
- +1.26
- Calmar
- +1.79
- Information Ratio
- +0.18
- Tracking Error
- +17%
- Stdev Down
- +7.8%
- Winning Months %
- +61.1%
- Losing Months %
- +38.9%
- Best 12 Months
- +42.8%
- Worst 12 Months
- +3%
- Efficiency Ratio
- +0.59
- Sharpe
- +1.24
- Stdev Sectors
- 0%
- Skewness
- +0.8
- Kurtosis
- +0.65
- Upside Potential
- +4.7
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 92 | $605.5M | 26 | ||
| 2026 Q1 | 97 | $537.2M | 19 | ||
| 2025 Q4 | 98 | $505.2M | 18 | ||
| 2025 Q3 | 111 | $572.0M | 38 | ||
| 2025 Q2 | 115 | $661.6M | 0 | ||
| 2025 Q1 | 118 | $758.5M | 100 | ||
| 2024 Q4 | 121 | $906.6M | 0 | ||
| 2024 Q3 | 125 | $921.4M | 0 | ||
| 2024 Q2 | 127 | $843.0M | 0 | ||
| 2024 Q1 | 134 | $884.7M | 0 | ||
| 2023 Q4 | 145 | $1.0B | 0 | ||
| 2023 Q3 | 149 | $852.7M | 0 | ||
| 2023 Q2 | 155 | $849.0M | 0 | ||
| 2023 Q1 | 158 | $936.3M | 0 | ||
| 2022 Q4 | 166 | $1.1B | 0 | ||
| 2022 Q3 | 175 | $1.1B | 0 | ||
| 2022 Q2 | 183 | $1.1B | 0 | ||
| 2022 Q1 | 190 | $1.3B | 0 | ||
| 2021 Q4 | 198 | $1.3B | 0 | ||
| 2021 Q3 | 195 | $1.3B | 0 | ||
| 2021 Q2 | 197 | $1.4B | 98 | ||
| 2021 Q1 | 197 | $1.3B | 31 | ||
| 2020 Q4 | 190 | $1.1B | 34 | ||
| 2020 Q3 | 189 | $770.0M | 21 | ||
| 2020 Q2 | 195 | $839.8M | 22 | ||
| 2020 Q1 | 206 | $839.7M | 54 | ||
| 2019 Q4 | 211 | $1.4B | 16 | ||
| 2019 Q3 | 217 | $1.3B | 18 | ||
| 2019 Q2 | 225 | $1.3B | 19 | ||
| 2019 Q1 | 233 | $1.3B | 18 | ||
| 2018 Q4 | 249 | $1.3B | 27 | ||
| 2018 Q3 | 258 | $1.7B | 18 | ||
| 2018 Q2 | 265 | $1.9B | 22 | ||
| 2018 Q1 | 255 | $2.0B | 22 | ||
| 2017 Q4 | 260 | $2.1B | 20 | ||
| 2017 Q3 | 265 | $2.2B | 18 | ||
| 2017 Q2 | 268 | $2.2B | 22 | ||
| 2017 Q1 | 266 | $2.3B | 20 | ||
| 2016 Q4 | 276 | $2.4B | 31 | ||
| 2016 Q3 | 287 | $1.8B | 16 | ||
| 2016 Q2 | 296 | $1.7B | 15 | ||
| 2016 Q1 | 305 | $1.6B | 17 | ||
| 2015 Q4 | 313 | $1.8B | 16 | ||
| 2015 Q3 | 311 | $1.6B | 15 | ||
| 2015 Q2 | 311 | $1.6B | 15 | ||
| 2015 Q1 | 293 | $1.5B | 15 | ||
| 2014 Q4 | 288 | $1.5B | 19 | ||
| 2014 Q3 | 283 | $1.3B | 15 | ||
| 2014 Q2 | 283 | $1.4B | 26 | ||
| 2014 Q1 | 231 | $1.3B | 24 | ||
| 2013 Q4 | 222 | $1.3B | 25 | ||
| 2013 Q3 | 215 | $1.2B | 19 | ||
| 2013 Q2 | 209 | $1.1B | 0 |
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Holding changes this quarter
Banc Funds Co LLC's most significant position changes for 2026-06-30: New buy: ; Sold out: Mountain Commerce Bancorp In (MCBI); New buy: Cmnty Wst Banc; New buy: Burke & Herbert Financial Se (BHRB); Sold out: United Security Bancshare/ca (UBFO).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ✓ | +2.9% | NEW | New buy | |
| 2 | ✓ | Cmnty Wst Banc | +1.1% | NEW | New buy |
| 3 | BHRB | Burke & Herbert Financial Se | +1% | NEW | New buy |
| 4 | HOMB | Home Bancshares Inc | +0.5% | NEW | New buy |
| 5 | FSUN | Firstsun Capital Bancorp | +0.4% | +41.27% | Add |
| 6 | PGC | Peapack Gladstone Finl CORP | +0.3% | — | Unchanged |
| 7 | ALRS | Alerus Financial CORP | +0.3% | — | Unchanged |
| 8 | PNFP | Pinnacle Financial Partners | +0.3% | +64.22% | Add |
| 9 | MYFW | First Western Financial Inc | +0.2% | -1.72% | Trim |
| 10 | FRST | Primis Financial CORP | +0.2% | — | Unchanged |
| 11 | MCB | Metropolitan Bank Holding Co | +0.2% | +3.52% | Add |
| 12 | TFIN | Triumph Financial Inc | +0.2% | — | Unchanged |
| 13 | CNOB | Connectone Bancorp Inc | +0.2% | — | Unchanged |
| 14 | CCNB | Coastal Carolina Bancshares | +0.2% | +5.42% | Add |
| 15 | MVBF | Mvb Financial CORP | +0.1% | +27.14% | Add |
| 16 | RCBC | River City Bank/ca | +0.1% | +26.35% | Add |
| 17 | SYBT | Stock Yards Bancorp Inc | +0.1% | NEW | New buy |
| 18 | OSBC | Old Second Bancorp Inc | +0.1% | +0.49% | Add |
| 19 | INBK | First Internet Bancorp | +0.1% | — | Unchanged |
| 20 | AVBH | Avidbank Holdings Inc | +0.1% | +0.45% | Add |
| 21 | LRBI | Lake Ridge Bancorp Inc | +0.1% | +61.34% | Add |
| 22 | MBIN | Merchants Bancorp/in | +0.1% | +1.42% | Add |
| 23 | BSVN | Bank7 CORP | +0.1% | — | Unchanged |
| 24 | FSBC | Five Star Bancorp | +0.1% | — | Unchanged |
| 25 | RNST | Renasant CORP | +0.1% | +23.88% | Add |
| 26 | BCAL | California Bancorp | +0.1% | -1.80% | Trim |
| 27 | BANC | Banc Of California Inc | +0.1% | — | Unchanged |
| 28 | WCCB | West Coast Community Bancorp | 0% | +8.95% | Add |
| 29 | MNSB | Mainstreet Bancshares Inc | 0% | +2.78% | Add |
| 30 | CCNE | Cnb Financial Corp/pa | 0% | — | Unchanged |
| 31 | BSFO | Bank Of San Francisco | 0% | +1.74% | Add |
| 32 | FBIZ | First Business Financial Ser | 0% | -1.80% | Trim |
| 33 | FSRL | First Reliance Bancshares In | 0% | -12.84% | Trim |
| 34 | EDVR | Endeavor Bancorp | 0% | +2.00% | Add |
| 35 | CMHF | Community Heritage Financial | 0% | — | Unchanged |
| 36 | CBNK | Capital Bancorp Inc/md | 0% | — | Unchanged |
| 37 | MBWM | Mercantile Bank CORP | 0% | — | Unchanged |
| 38 | BFST | Business First Bancshares | 0% | — | Unchanged |
| 39 | BWFG | Bankwell Financial Group Inc | 0% | -6.22% | Trim |
| 40 | FVCB | Fvcbankcorp Inc | 0% | — | Unchanged |
| 41 | ✓ | F&M Bank Corp | 0% | — | Unchanged |
| 42 | BWB | Bridgewater Bancshares Inc | 0% | -4.93% | Trim |
| 43 | TBBK | Bancorp Inc/the | — | — | Unchanged |
| 44 | PBNK | Pinnacle Bank/gilroy Ca | — | — | Unchanged |
| 45 | PTBS | Potomac Bancshares Inc | — | — | Unchanged |
| 46 | ISTR | Investar Holding CORP | 0% | — | Unchanged |
| 47 | BPRN | Princeton Bancorp Inc | 0% | — | Unchanged |
| 48 | CZWI | Citizens Community Bancorp I | 0% | -5.34% | Trim |
| 49 | AMTB | Amerant Bancorp Inc | 0% | -3.33% | Trim |
| 50 | SBKO | Summit Bank Group Inc | 0% | -3.15% | Trim |
1–50 of 102
Filing History
FAQ
What is Banc Funds Co LLC and what type of investor is it?
Banc Funds Co LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $605.5M, spread across 92 disclosed positions.
What are Banc Funds Co LLC's largest equity positions?
Based on the latest 13F filing, Banc Funds Co LLC's top holdings by market value are:
1. Old Second Bancorp Inc (OSBC) — $24.1M (4.0%)
2. Private Bancorp Of America I (PBAM) — $23.2M (3.8%)
3. Avidbank Holdings Inc (AVBH) — $22.1M (3.6%)
4. Unity Bancorp Inc (UNTY) — $21.7M (3.6%)
5. — $17.7M (2.9%)
What changes did Banc Funds Co LLC make in its most recent portfolio filing?
In the latest reported quarter, Banc Funds Co LLC made 62 notable position adjustments: 5 new positions were initiated, 19 existing holdings were added to, 28 positions were partially reduced, and 10 were completely exited. The largest of these moves: New buy: ; Sold out: Mountain Commerce Bancorp In (MCBI); New buy: Cmnty Wst Banc; New buy: Burke & Herbert Financial Se (BHRB); Sold out: United Security Bancshare/ca (UBFO)
What sectors does Banc Funds Co LLC focus on?
Banc Funds Co LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 100.0%
Investment Profile
Banc Funds Co LLC returned an annualized 23.6% over the trailing 36 months — outperforming the S&P 500 by 9.5 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.68 (less volatile than the market) and a 33% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 100.0% of the portfolio concentrated in Financials.
Its turnover score has risen from 0 to 26 over the past 4 quarters — a shift toward more active trading.
It has added to its PBAM position over the past two quarters (+$6.9M, now $23.2M), while trimming SMBK over the same stretch (-$2.8M, still holding $4.6M).
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Developer Access
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