# BANC FUNDS CO LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1029311. Source: https://holderbook.com/funds/1029311-banc-funds-co-llc/

- Reported value: $605.5M
- Positions: 92
- Weight of the ten largest: 31.0%
- Filed: 2026-08-13

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| OLD SECOND BANCORP INC DEL | [OSBC](https://holderbook.com/stocks/OSBC/) | $24.1M | 1,034,143 | 4.0% | 31 |
| Private Bancorp of America, Inc. | [PBAM](https://holderbook.com/stocks/PBAM/) | $23.2M | 313,859 | 3.8% | 31 |
| AVIDBANK HLDGS INC | [AVBH](https://holderbook.com/stocks/AVBH/) | $22.1M | 668,100 | 3.6% | 31 |
| UNITY BANCORP INC | [UNTY](https://holderbook.com/stocks/UNTY/) | $21.7M | 370,469 | 3.6% | 31 |
| FIRST CAROLINA FINL SVCS INC | [FCBM](https://holderbook.com/stocks/FCBM/) | $17.7M | 1,338,750 | 2.9% | 1 |
| CALIFORNIA BANCORP | [BCAL](https://holderbook.com/stocks/BCAL/) | $17.0M | 816,155 | 2.8% | 25 |
| American Business Bank | [AMBZ](https://holderbook.com/stocks/AMBZ/) | $16.7M | 229,173 | 2.8% | 31 |
| FIRST BK WILLIAMSTOWN NEW JE | [FRBA](https://holderbook.com/stocks/FRBA/) | $15.3M | 864,205 | 2.5% | 31 |
| West Coast Community Bancorp | [WCCB](https://holderbook.com/stocks/WCCB/) | $15.1M | 301,420 | 2.5% | 11 |
| METROPOLITAN BK HLDG CORP | [MCB](https://holderbook.com/stocks/MCB/) | $14.5M | 147,221 | 2.4% | 31 |
| PRIMIS FINANCIAL CORP | [FRST](https://holderbook.com/stocks/FRST/) | $14.3M | 872,961 | 2.4% | 22 |
| MERCHANTS BANCORP IND | [MBIN](https://holderbook.com/stocks/MBIN/) | $14.3M | 285,062 | 2.4% | 31 |
| MAINSTREET BANCSHARES INC | [MNSB](https://holderbook.com/stocks/MNSB/) | $13.5M | 545,679 | 2.2% | 31 |
| PEAPACK-GLADSTONE FINL CORP | [PGC](https://holderbook.com/stocks/PGC/) | $13.0M | 273,947 | 2.1% | 31 |
| TEXAS CAP BANCSHARES INC | [TCBI](https://holderbook.com/stocks/TCBI/) | $12.4M | 119,762 | 2.0% | 20 |
| FIRST WESTN FINL INC | [MYFW](https://holderbook.com/stocks/MYFW/) | $11.0M | 342,404 | 1.8% | 31 |
| ALERUS FINL CORP | [ALRS](https://holderbook.com/stocks/ALRS/) | $10.9M | 349,165 | 1.8% | 28 |
| BANC OF CALIFORNIA INC | [BANC](https://holderbook.com/stocks/BANC/) | $10.6M | 519,738 | 1.8% | 19 |
| CONNECTONE BANCORP INC | [CNOB](https://holderbook.com/stocks/CNOB/) | $10.4M | 310,195 | 1.7% | 31 |
| FIRST BUSINESS FINL SVCS INC | [FBIZ](https://holderbook.com/stocks/FBIZ/) | $10.3M | 163,224 | 1.7% | 31 |
| SOUTHERN FIRST BANCSHARES | [SFST](https://holderbook.com/stocks/SFST/) | $9.9M | 162,655 | 1.6% | 31 |
| Alpine Banks of Colorado | [ALPIB](https://holderbook.com/stocks/ALPIB/) | $9.8M | 204,321 | 1.6% | 16 |
| FIRSTSUN CAP BANCORP | [FSUN](https://holderbook.com/stocks/FSUN/) | $9.2M | 238,031 | 1.5% | 16 |
| INVESTAR HOLDING CORP | [ISTR](https://holderbook.com/stocks/ISTR/) | $9.2M | 306,896 | 1.5% | 31 |
| TRIUMPH FINANCIAL INC | [TFIN](https://holderbook.com/stocks/TFIN/) | $8.9M | 117,136 | 1.5% | 31 |
| COLONY BANKCORP INC | [CBAN](https://holderbook.com/stocks/CBAN/) | $8.9M | 441,478 | 1.5% | 20 |
| Coastal Carolina Bancshares, Inc. | [CCNB](https://holderbook.com/stocks/CCNB/) | $8.3M | 492,071 | 1.4% | 31 |
| MERIDIAN CORP | [MRBK](https://holderbook.com/stocks/MRBK/) | $7.7M | 382,533 | 1.3% | 31 |
| MERCANTILE BK CORP | [MBWM](https://holderbook.com/stocks/MBWM/) | $7.5M | 131,160 | 1.2% | 31 |
| CNB FINL CORP PA | [CCNE](https://holderbook.com/stocks/CCNE/) | $7.5M | 222,375 | 1.2% | 31 |
| MID PENN BANCORP INC | [MPB](https://holderbook.com/stocks/MPB/) | $7.2M | 207,982 | 1.2% | 31 |
| BUSINESS FIRST BANCSHARES IN | [BFST](https://holderbook.com/stocks/BFST/) | $7.2M | 234,257 | 1.2% | 31 |
| ORANGE CNTY BANCORP INC | [OBT](https://holderbook.com/stocks/OBT/) | $6.8M | 186,035 | 1.1% | 31 |
| THIRD COAST BANCSHARES INC | [TCBX](https://holderbook.com/stocks/TCBX/) | $6.8M | 169,064 | 1.1% | 19 |
| BLUE RIDGE BANKSHARES INC VA | [BRBS](https://holderbook.com/stocks/BRBS/) | $6.7M | 1,889,033 | 1.1% | 30 |
| COMMUNITY WEST BANCSHARES | [CWBC](https://holderbook.com/stocks/CWBC/) | $6.5M | 240,606 | 1.1% | 1 |
| BANK7 CORP | [BSVN](https://holderbook.com/stocks/BSVN/) | $6.3M | 128,519 | 1.0% | 19 |
| BURKE HERBERT FINL SVCS CORP | [BHRB](https://holderbook.com/stocks/BHRB/) | $5.9M | 82,374 | 1.0% | 1 |
| PRINCETON BANCORP INC | [BPRN](https://holderbook.com/stocks/BPRN/) | $5.8M | 153,926 | 1.0% | 15 |
| Studio Financial Holdings Inc | [STBK](https://holderbook.com/stocks/STBK/) | $5.6M | 429,056 | 0.9% | 12 |
| River City Bank | [RCBC](https://holderbook.com/stocks/RCBC/) | $5.6M | 128,354 | 0.9% | 31 |
| First Reliance Bancshares, Inc. | [FSRL](https://holderbook.com/stocks/FSRL/) | $5.5M | 297,472 | 0.9% | 31 |
| BANKWELL FINL GROUP INC | [BWFG](https://holderbook.com/stocks/BWFG/) | $5.3M | 90,423 | 0.9% | 31 |
| Bank of San Francisco | [BSFO](https://holderbook.com/stocks/BSFO/) | $5.1M | 117,072 | 0.8% | 2 |
| White River Bancshares Company | [WRIV](https://holderbook.com/stocks/WRIV/) | $4.9M | 89,000 | 0.8% | 31 |
| SMARTFINANCIAL INC | [SMBK](https://holderbook.com/stocks/SMBK/) | $4.6M | 97,626 | 0.8% | 31 |
| CITIZENS CMNTY BANCORP INC M | [CZWI](https://holderbook.com/stocks/CZWI/) | $4.6M | 195,055 | 0.8% | 31 |
| FIRST INTERNET BANCORP | [INBK](https://holderbook.com/stocks/INBK/) | $4.5M | 162,176 | 0.7% | 31 |
| South Atlantic Bancshares, Inc. | [SABK](https://holderbook.com/stocks/SABK/) | $4.5M | 175,596 | 0.7% | 31 |
| Community Heritage Financial Inc. | [CMHF](https://holderbook.com/stocks/CMHF/) | $4.5M | 125,424 | 0.7% | 31 |
| AMERANT BANCORP INC | [AMTB](https://holderbook.com/stocks/AMTB/) | $4.4M | 174,000 | 0.7% | 8 |
| FIVE STAR BANCORP | [FSBC](https://holderbook.com/stocks/FSBC/) | $4.2M | 85,919 | 0.7% | 21 |
| Summit Bank Group, Inc. | [SBKO](https://holderbook.com/stocks/SBKO/) | $4.1M | 184,501 | 0.7% | 22 |
| First Capital Bancshares, Inc. | [FCPB](https://holderbook.com/stocks/FCPB/) | $4.1M | 318,995 | 0.7% | 23 |
| Oregon Pacific Bancorp | [ORPB](https://holderbook.com/stocks/ORPB/) | $4.0M | 361,932 | 0.7% | 30 |
| SIERRA BANCORP | [BSRR](https://holderbook.com/stocks/BSRR/) | $4.0M | 99,255 | 0.7% | 31 |
| FVCBANKCORP INC | [FVCB](https://holderbook.com/stocks/FVCB/) | $3.7M | 214,088 | 0.6% | 31 |
| Blueharbor Bank | [BLHK](https://holderbook.com/stocks/BLHK/) | $3.7M | 87,402 | 0.6% | 31 |
| PINNACLE FINL PARTNERS INC | [PNFP](https://holderbook.com/stocks/PNFP/) | $3.6M | 35,800 | 0.6% | 2 |
| MVB FINL CORP | [MVBF](https://holderbook.com/stocks/MVBF/) | $3.4M | 116,010 | 0.6% | 31 |
| FIRST BUSEY CORP | [BUSE](https://holderbook.com/stocks/BUSE/) | $3.4M | 114,077 | 0.6% | 6 |
| Endeavor Bancorp | [EDVR](https://holderbook.com/stocks/EDVR/) | $3.3M | 171,092 | 0.5% | 10 |
| HOME BANCSHARES INC | [HOMB](https://holderbook.com/stocks/HOMB/) | $3.2M | 112,099 | 0.5% | 1 |
| SHORE BANCSHARES INC | [SHBI](https://holderbook.com/stocks/SHBI/) | $3.1M | 136,243 | 0.5% | 31 |
| SUMMIT ST BK SANTA ROSA CALI | [SSBI](https://holderbook.com/stocks/SSBI/) | $2.7M | 195,627 | 0.4% | 31 |
| CAPITAL BANCORP INC MD | [CBNK](https://holderbook.com/stocks/CBNK/) | $2.6M | 75,300 | 0.4% | 31 |
| Commencement Bancorp, Inc. | [CBWA](https://holderbook.com/stocks/CBWA/) | $2.4M | 138,720 | 0.4% | 25 |
| EAGLE FINL SVCS INC | [EFSI](https://holderbook.com/stocks/EFSI/) | $2.3M | 56,500 | 0.4% | 6 |
| COASTALSOUTH BANCSHARES INC | [COSO](https://holderbook.com/stocks/COSO/) | $2.3M | 85,715 | 0.4% | 31 |
| American Riviera Bancorp | [ARBV](https://holderbook.com/stocks/ARBV/) | $2.3M | 89,380 | 0.4% | 18 |
| RENASANT CORP | [RNST](https://holderbook.com/stocks/RNST/) | $2.2M | 51,875 | 0.4% | 8 |
| FSBH CORP | [FSBH](https://holderbook.com/stocks/FSBH/) | $2.2M | 135,250 | 0.4% | 10 |
| BRIDGEWATER BANCSHARES INC | [BWB](https://holderbook.com/stocks/BWB/) | $2.0M | 96,479 | 0.3% | 31 |
| FB FINL CORP | [FBK](https://holderbook.com/stocks/FBK/) | $2.0M | 35,496 | 0.3% | 4 |
| USCB FINANCIAL HOLDINGS INC | [USCB](https://holderbook.com/stocks/USCB/) | $2.0M | 95,580 | 0.3% | 19 |
| Lake Ridge Bancorp | [LRBI](https://holderbook.com/stocks/LRBI/) | $1.7M | 11,429 | 0.3% | 2 |
| F&M Bank Corp | - | $1.7M | 47,100 | 0.3% | 4 |
| Grand River Commerce, Inc. | [GNRV](https://holderbook.com/stocks/GNRV/) | $1.6M | 304,400 | 0.3% | 31 |
| Mission Valley Bancorp | [MVLY](https://holderbook.com/stocks/MVLY/) | $1.5M | 78,507 | 0.3% | 31 |
| TOWNEBANK PORTSMOUTH VA | [TOWN](https://holderbook.com/stocks/TOWN/) | $1.5M | 40,804 | 0.2% | 2 |
| BANCORP INC DEL | [TBBK](https://holderbook.com/stocks/TBBK/) | $1.5M | 23,592 | 0.2% | 20 |
| Pinnacle Bankshares Corporation | [PPBN](https://holderbook.com/stocks/PPBN/) | $1.4M | 25,464 | 0.2% | 31 |
| SOMERSET TR HLDG CO | [SOME](https://holderbook.com/stocks/SOME/) | $1.2M | 16,017 | 0.2% | 7 |
| Pacific West Bancorp | [PWBK](https://holderbook.com/stocks/PWBK/) | $1.2M | 92,857 | 0.2% | 15 |
| SouthPoint Bancshares, Inc. | [SOUB](https://holderbook.com/stocks/SOUB/) | $1.1M | 74,638 | 0.2% | 29 |
| BANCORP 34 INC | [BCTF](https://holderbook.com/stocks/BCTF/) | $951.7K | 61,857 | 0.2% | 14 |
| FIRST NATL CORP VA | [FXNC](https://holderbook.com/stocks/FXNC/) | $941.8K | 31,374 | 0.2% | 31 |
| Pinnacle Bank/Gilroy CA | [PBNK](https://holderbook.com/stocks/PBNK/) | $796.8K | 44,514 | 0.1% | 31 |
| STOCK YDS BANCORP INC | [SYBT](https://holderbook.com/stocks/SYBT/) | $764.7K | 10,000 | 0.1% | 1 |
| BYLINE BANCORP INC | [BY](https://holderbook.com/stocks/BY/) | $741.2K | 19,682 | 0.1% | 31 |
| BAYFIRST FINANCIAL CORP | [BAFN](https://holderbook.com/stocks/BAFN/) | $458.4K | 91,679 | 0.1% | 19 |
| Potomac Bancshares, Inc. | [PTBS](https://holderbook.com/stocks/PTBS/) | $295.4K | 12,432 | 0.0% | 31 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +15.2% | +14.8% | +0.4% | 74% |
| Q1 2026 | +3.6% | -4.6% | +8.3% | 73% |
| Q4 2025 | +6.5% | +2.4% | +4.2% | 73% |
| Q3 2025 | +5.1% | +7.8% | -2.8% | 70% |
| Q2 2025 | +4.5% | +10.5% | -6.0% | 72% |
| Q1 2025 | -7.1% | -4.6% | -2.6% | 70% |
| Q4 2024 | +6.3% | +2.1% | +4.1% | 74% |
| Q3 2024 | +16.6% | +5.4% | +11.2% | 70% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $605.5M | 92 |
| Q1 2026 | $537.2M | 97 |
| Q4 2025 | $505.2M | 98 |
| Q3 2025 | $572.0M | 111 |
| Q2 2025 | $661.6M | 115 |
| Q1 2025 | $758.5M | 118 |
| Q4 2024 | $906.6M | 121 |
| Q3 2024 | $921.4M | 125 |
| Q2 2024 | $843.0M | 127 |
| Q1 2024 | $884.7M | 134 |
| Q4 2023 | $1.0B | 145 |
| Q3 2023 | $852.7M | 149 |