PC
PL Capital Advisors, LLC — 13F Portfolio Changes & Top Buys (Q2 2026)
PL Capital Advisors, LLCCIK: 0001569147
Sector-focusedContrarianQuality / disciplined sizing
Total reported value
$359.8M
Reporting period: 2026-06-30 · Number of holdings: 31
PL Capital Advisors, LLC disclosed 31 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $359.8M and a quarterly turnover rate of 19.3%.
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Personality snowflake
- Concentration
- 41.46
- Portfolio Stability
- 19.25
- Momentum
- 0
- Sector conviction
- 100
- Diversification
- 62
- Sizing Uniformity
- 84.88
PL Capital Advisors, LLC's disclosed holdings carry a Herfindahl concentration index of 0.104 — mathematically equivalent to about 10 equally-sized positions, well below its 31 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.51), with a handful of outsized bets alongside many smaller positions.
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 9% 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.govSold out BNCC
Add FISI
0.0% $13.2M
Trim BANC
-17.0% -$1.8M
Trim NBTB
-64.9% -$5.3M
Add EFSC
0.0% $8.6M
Add HBNC
0.0% $6.2M
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 | FISI | Financial Institutions Inc | Stock-Other | 19.67% | +2.30% | — | |
| 2 | BANC | Banc Of California Inc | Stock-Other | 13.91% | -1.72% | -16.95% | |
| 3 | EFSC | Enterprise Financial Service | Stock-Other | 13.43% | +1.46% | — | |
| 4 | HBNC | Horizon Bancorp Inc/in | Stock-Other | 10.07% | +1.01% | — | |
| 5 | FRME | First Merchants CORP | Stock-Other | 8.34% | +0.32% | — | |
| 6 | FNB | Fnb CORP | Stock-Financials | 5.27% | +0.26% | — | |
| 7 | ARBV | American Riviera Bancorp | Stock-Other | 4.05% | — | — | |
| 8 | FNWD | Finward Bancorp | Stock-Other | 4.05% | -0.28% | — | |
| 9 | FLG | Flagstar Bank NA | Stock-Financials | 3.47% | +0.15% | — | |
| 10 | IBCP | Independent Bank CORP - Mich | Stock-Other | 3.20% | — | — | |
| 11 | CWBC | Community West Bancshares | Stock-Other | 2.46% | +0.14% | — | |
| 12 | FRBA | First Bank/hamilton Nj | Stock-Other | 2.36% | +0.05% | — | |
| 13 | CHMG | Chemung Financial CORP | Stock-Other | 2.27% | +0.50% | — | |
| 14 | FRST | Primis Financial CORP | Stock-Other | 1.08% | +0.13% | — | |
| 15 | NBTB | N B T Bancorp Inc | Stock-Other | 1.00% | -1.67% | -64.89% | |
| 16 | MGYR | Magyar Bancorp Inc | Stock-Other | 0.89% | -0.07% | — | |
| 17 | OPFI | Oppfi Inc | Stock-Other | 0.83% | +0.83% | NEW | |
| 18 | ORRF | Orrstown Finl Services Inc | Stock-Other | 0.73% | +0.03% | — | |
| 19 | FHN | First Horizon CORP | Stock-Financials | 0.71% | +0.02% | — | |
| 20 | PGC | Peapack Gladstone Finl CORP | Stock-Other | 0.60% | +0.12% | — | |
| 21 | FMBM | F & M Bank CORP | Stock-Other | 0.36% | +0.04% | +0.17% | |
| 22 | RMBI | Richmond Mutual Bancorporati | Stock-Other | 0.27% | +0.02% | — | |
| 23 | SBFG | Sb Financial Group Inc | Stock-Other | 0.23% | +0.04% | +10.34% | |
| 24 | INBC | Inbankshares CORP | Stock-Other | 0.20% | +0.01% | — | |
| 25 | PBAM | Private Bancorp Of America I | Stock-Other | 0.14% | — | — | |
| 26 | PBNC | Pb Finl CORP | Stock-Other | 0.14% | — | — | |
| 27 | CBAF | Citba Financial CORP | Stock-Other | 0.12% | -0.02% | — | |
| 28 | FNRN | First Northern Community Ban | Stock-Other | 0.10% | -0.08% | -46.97% | |
| 29 | FMBH | First Mid Bancshares Inc | Stock-Other | 0.04% | — | — | |
| 30 | MFGI | Merchants Financial Group In | Stock-Other | 0.02% | +0.01% | — | |
| 31 | RVSB | Riverview Bancorp Inc | Stock-Other | — | — | NEW |
💡
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.
Portfolio Performance
Performance for Q3 2026
+7.7%
Performance Last 4 Quarters
+22%
- Stdev
- +22.7%
- Beta
- +0.9
- Alpha
- +6.5%
- Max Drawdown
- -14.6%
- Annualized Perf
- +24.4%
- Batting Avg vs S&P
- +44.4%
- Sortino
- +2.7
- Stutzer
- +0.34
- Treynor
- +0.27
- Sterling
- +1.31
- Calmar
- +1.68
- Information Ratio
- +0.23
- Tracking Error
- +19.6%
- Stdev Down
- +9%
- Winning Months %
- +55.6%
- Losing Months %
- +44.4%
- Best 12 Months
- +53.9%
- Worst 12 Months
- +2.7%
- Efficiency Ratio
- +0.52
- Sharpe
- +1.08
- Stdev Sectors
- 0%
- Skewness
- +1.02
- Kurtosis
- +0.79
- Upside Potential
- +4.61
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 31 | $359.8M | 19 | ||
| 2026 Q1 | 30 | $331.6M | 14 | ||
| 2025 Q4 | 26 | $317.2M | 15 | ||
| 2025 Q3 | 26 | $301.4M | 36 | ||
| 2025 Q2 | 25 | $299.7M | 0 | ||
| 2025 Q1 | 27 | $297.7M | 100 | ||
| 2024 Q4 | 29 | $293.0M | 0 | ||
| 2024 Q3 | 28 | $280.9M | 0 | ||
| 2024 Q2 | 28 | $240.5M | 0 | ||
| 2024 Q1 | 31 | $262.5M | 0 | ||
| 2023 Q4 | 34 | $289.3M | 0 | ||
| 2023 Q3 | 34 | $249.9M | 0 | ||
| 2023 Q2 | 34 | $250.4M | 0 | ||
| 2023 Q1 | 40 | $284.1M | 0 | ||
| 2022 Q4 | 43 | $363.9M | 0 | ||
| 2022 Q3 | 41 | $341.8M | 0 | ||
| 2022 Q2 | 39 | $347.7M | 0 | ||
| 2022 Q1 | 42 | $387.9M | 0 | ||
| 2021 Q4 | 39 | $409.1M | 0 | ||
| 2021 Q3 | 41 | $397.2M | 0 | ||
| 2021 Q2 | 41 | $406.8M | 100 | ||
| 2021 Q1 | 41 | $411.3M | 30 | ||
| 2020 Q4 | 40 | $312.3M | 31 | ||
| 2020 Q3 | 40 | $240.3M | 24 | ||
| 2020 Q2 | 41 | $236.4M | 40 | ||
| 2020 Q1 | 36 | $212.9M | 55 | ||
| 2019 Q4 | 35 | $366.4M | 20 | ||
| 2019 Q3 | 37 | $326.5M | 7 | ||
| 2019 Q2 | 37 | $339.7M | 11 | ||
| 2019 Q1 | 38 | $344.5M | 15 | ||
| 2018 Q4 | 39 | $328.7M | 33 | ||
| 2018 Q3 | 38 | $385.8M | 12 | ||
| 2018 Q2 | 38 | $382.8M | 21 | ||
| 2018 Q1 | 32 | $357.1M | 18 | ||
| 2017 Q4 | 31 | $377.7M | 10 | ||
| 2017 Q3 | 32 | $389.5M | 8 | ||
| 2017 Q2 | 30 | $380.0M | 10 | ||
| 2017 Q1 | 32 | $387.0M | 10 | ||
| 2016 Q4 | 31 | $374.2M | 31 | ||
| 2016 Q3 | 31 | $310.0M | 11 | ||
| 2016 Q2 | 36 | $293.6M | 18 | ||
| 2016 Q1 | 36 | $298.6M | 57 | ||
| 2015 Q4 | 38 | $289.8M | 24 | ||
| 2015 Q3 | 37 | $274.6M | 22 | ||
| 2015 Q2 | 38 | $276.6M | 11 | ||
| 2015 Q1 | 38 | $264.8M | 9 | ||
| 2014 Q4 | 41 | $263.2M | 11 | ||
| 2014 Q3 | 41 | $242.8M | 35 | ||
| 2014 Q2 | 47 | $237.0M | 28 | ||
| 2014 Q1 | 53 | $196.3M | 19 | ||
| 2013 Q4 | 58 | $205.3M | 39 | ||
| 2013 Q3 | 57 | $179.8M | 15 | ||
| 2013 Q2 | 50 | $160.5M | 0 |
Holding changes this quarter
PL Capital Advisors, LLC's most significant position changes for 2026-06-30: Sold out: Bnccorp (BNCC); New buy: Oppfi Inc (OPFI); New buy: Riverview Bancorp Inc (RVSB); Trim: Banc Of California Inc (BANC) — shares -16.95%; Trim: N B T Bancorp Inc (NBTB) — shares -64.89%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | FISI | Financial Institutions Inc | +2.3% | — | Unchanged |
| 2 | EFSC | Enterprise Financial Service | +1.5% | — | Unchanged |
| 3 | HBNC | Horizon Bancorp Inc/in | +1% | — | Unchanged |
| 4 | OPFI | Oppfi Inc | +0.8% | NEW | New buy |
| 5 | CHMG | Chemung Financial CORP | +0.5% | — | Unchanged |
| 6 | FRME | First Merchants CORP | +0.3% | — | Unchanged |
| 7 | FNB | Fnb CORP | +0.3% | — | Unchanged |
| 8 | FLG | Flagstar Bank NA | +0.2% | — | Unchanged |
| 9 | CWBC | Community West Bancshares | +0.1% | — | Unchanged |
| 10 | FRST | Primis Financial CORP | +0.1% | — | Unchanged |
| 11 | PGC | Peapack Gladstone Finl CORP | +0.1% | — | Unchanged |
| 12 | FRBA | First Bank/hamilton Nj | +0.1% | — | Unchanged |
| 13 | FMBM | F & M Bank CORP | 0% | +0.17% | Add |
| 14 | SBFG | Sb Financial Group Inc | 0% | +10.34% | Add |
| 15 | ORRF | Orrstown Finl Services Inc | 0% | — | Unchanged |
| 16 | FHN | First Horizon CORP | 0% | — | Unchanged |
| 17 | RMBI | Richmond Mutual Bancorporati | 0% | — | Unchanged |
| 18 | INBC | Inbankshares CORP | 0% | — | Unchanged |
| 19 | MFGI | Merchants Financial Group In | 0% | — | Unchanged |
| 20 | ARBV | American Riviera Bancorp | — | — | Unchanged |
| 21 | IBCP | Independent Bank CORP - Mich | — | — | Unchanged |
| 22 | PBAM | Private Bancorp Of America I | — | — | Unchanged |
| 23 | PBNC | Pb Finl CORP | — | — | Unchanged |
| 24 | FMBH | First Mid Bancshares Inc | — | — | Unchanged |
| 25 | RVSB | Riverview Bancorp Inc | — | NEW | New buy |
| 26 | CBAF | Citba Financial CORP | 0% | — | Unchanged |
| 27 | MGYR | Magyar Bancorp Inc | -0.1% | — | Unchanged |
| 28 | FNRN | First Northern Community Ban | -0.1% | -46.97% | Trim |
| 29 | FNWD | Finward Bancorp | -0.3% | — | Unchanged |
| 30 | NBTB | N B T Bancorp Inc | -1.7% | -64.89% | Trim |
| 31 | BANC | Banc Of California Inc | -1.7% | -16.95% | Trim |
| 32 | BNCC | Bnccorp | -3.6% | EXIT | Sold out |
Filing History
FAQ
What is PL Capital Advisors, LLC and what type of investor is it?
PL Capital Advisors, 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 $359.8M, spread across 31 disclosed positions.
What are PL Capital Advisors, LLC's largest equity positions?
Based on the latest 13F filing, PL Capital Advisors, LLC's top holdings by market value are:
1. Financial Institutions Inc (FISI) — $70.8M (19.7%)
2. Banc Of California Inc (BANC) — $50.0M (13.9%)
3. Enterprise Financial Service (EFSC) — $48.3M (13.4%)
4. Horizon Bancorp Inc/in (HBNC) — $36.2M (10.1%)
5. First Merchants CORP (FRME) — $30.0M (8.3%)
What changes did PL Capital Advisors, LLC make in its most recent portfolio filing?
In the latest reported quarter, PL Capital Advisors, LLC made 8 notable position adjustments: 2 new positions were initiated, 2 existing holdings were added to, 3 positions were partially reduced, and 1 were completely exited. The largest of these moves: Sold out: Bnccorp (BNCC); New buy: Oppfi Inc (OPFI); New buy: Riverview Bancorp Inc (RVSB); Trim: Banc Of California Inc (BANC) — shares -16.95%; Trim: N B T Bancorp Inc (NBTB) — shares -64.89%
What sectors does PL Capital Advisors, LLC focus on?
PL Capital Advisors, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 100.0%
Investment Profile
PL Capital Advisors, LLC returned an annualized 24.4% over the trailing 36 months — outperforming the S&P 500 by 6.5 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.90 (less volatile than the market) and a 44% quarterly batting average against the index.
Its portfolio is moderately concentrated and long-term-holding, with 100.0% of the portfolio concentrated in Financials.
Its turnover score has risen from 0 to 19 over the past 4 quarters — a shift toward more active trading.
It has added to its FISI position over the past two quarters (+$14.6M, now $70.8M), while trimming BANC over the same stretch (-$6.9M, still holding $50.0M).
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Developer Access
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