BANC FUNDS CO LLC

CIK

1029311

Location

CHICAGO, IL

Portfolio Value

Small $375,433,518

Diversification

Diversified

Filing Date

Global Rank

#3,070 / 8,622 ▲ 196 · as of Mar 2026

Top Industry

Banks - Regional 100.0%

3Y Alpha vs SPY

+1.2%

Period ended 4 months ago

Filed May 14, 2026 · 3mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+73.1%

SPY

+67.9%

Annualised alpha

+1.2%

Max drawdown

−25.0%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

64 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

5.5%

+0.4 pts

Top 5

20.9%

+0.8 pts

Top 10

35.3%

+1.6 pts

HHI

237

Diversified+6

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	100.0%	$375,433,518	64

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

18 positions

Ticker	Company	Δ Shares	Shares	Value
ALRS	Alerus Financial Corp	+134,198	349,165	$8,278,702
OSBC	Old Second Bancorp Inc	+123,953	1,029,143	$20,747,522
MNSB	MainStreet Bancshares, Inc.	+108,960	530,941	$11,786,890
FRST	Primis Financial Corp.	+84,200	872,961	$11,592,922
CNOB	ConnectOne Bancorp, Inc.	+82,400	310,195	$8,303,920
AVBH	Avidbank Holdings, Inc.	+68,670	665,100	$18,955,350
BCAL	California BanCorp \ CA	+65,000	831,155	$14,728,066
MVBF	Mvb Financial Corp	+56,200	91,244	$2,265,588
CBNK	Capital Bancorp Inc	+53,900	75,300	$2,239,422
BUSE	First Busey Corp /Nv/	+51,500	127,077	$3,211,235
MRBK	Meridian Corp	+48,414	369,333	$7,002,553
BFST	Business First Bancshares, Inc.	+43,708	234,257	$6,334,309
MBIN	Merchants Bancorp	+36,600	281,062	$12,060,370
MCB	Metropolitan Bank Holding Corp.	+13,400	142,221	$11,845,587
TCBX	Third Coast Bancshares, Inc.	+11,558	169,064	$6,395,691
CCNE	Cnb Financial Corp/Pa	+5,200	222,375	$6,439,980
MYFW	First Western Financial Inc	+2,314	348,404	$8,563,770
MBWM	Mercantile Bank Corp	+319	131,160	$6,623,580
No positions match the current search.

Trimmed

Positions the filer reduced

18 positions

Ticker	Company	Δ Shares	Shares	Value
BRBS	Blue Ridge Bankshares, Inc.	−140,000	1,889,033	$7,933,938
FBK	FB Financial Corp	−98,000	35,496	$1,843,662
FNRN	First Northern Community Bancorp	−67,516	234,181	$3,721,136
BCTF	Bancorp 34, Inc.	−56,000	106,857	$1,597,512
SMBK	Smartfinancial Inc.	−50,500	150,087	$5,865,399
HTBK	HERITAGE COMMERCE CORP	−46,400	75,139	$937,734
CZWI	Citizens Community Bancorp Inc.	−40,231	206,055	$4,079,889
ALPIB	Alpine Banks Of Colorado	−32,994	204,321	$9,766,543
FCCO	First Community Corp /Sc/	−25,000	16,317	$476,945
PGC	Peapack Gladstone Financial Corp	−23,800	273,947	$9,645,673
HNVR	Hanover Bancorp, Inc. /MD	−18,703	76,757	$1,657,183
FXNC	First National Corp /Va/	−11,101	49,391	$1,329,605
FSBC	Five Star Bancorp	−10,000	85,919	$3,240,864
SHBI	Shore Bancshares Inc	−9,000	195,563	$3,653,116
BSRR	Sierra Bancorp	−8,169	113,255	$3,841,609
CBAN	Colony Bankcorp Inc	−8,000	419,478	$8,376,975
BY	Byline Bancorp, Inc.	−5,000	34,157	$1,078,336
UBFO	UNITED SECURITY BANCSHARES	−4,000	532,316	$5,594,641
No positions match the current search.

New Positions

Positions the filer opened this quarter

2 positions

Ticker	Company	Shares	Value
CBSH	Commerce Bancshares Inc /Mo/	86,774	$4,269,280
PNFP	Pinnacle Financial Partners, Inc.	21,800	$1,877,852
No positions match the current search.

Sold Out

Positions the filer fully exited

1 positions

Ticker	Company	Shares	Value	Open
HBT	HBT Financial, Inc.	18,403	$475,717
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

64 tracked positions · $375,433,518 total · as of Mar 31, 2026

All sectors Financial Services

Showing 1–50 of 64 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
OSBC	Old Second Bancorp Inc Financial Services	Added	1,029,143	+123,953	$20,747,522	+17.5%	5.53%
AVBH	Avidbank Holdings, Inc. Financial Services	Added	665,100	+68,670	$18,955,350	+19.7%	5.05%
BCAL	California BanCorp \ CA Financial Services	Added	831,155	+65,000	$14,728,066	+3.0%	3.92%
MBIN	Merchants Bancorp Financial Services	Added	281,062	+36,600	$12,060,370	+44.8%	3.21%
MCB	Metropolitan Bank Holding Corp. Financial Services	Added	142,221	+13,400	$11,845,587	+20.4%	3.16%
MNSB	MainStreet Bancshares, Inc. Financial Services	Added	530,941	+108,960	$11,786,890	+37.2%	3.14%
FRST	Primis Financial Corp. Financial Services	Added	872,961	+84,200	$11,592,922	+5.7%	3.09%
TCBI	Texas Capital Bancshares Inc/Tx Financial Services	Held	119,762	0	$11,363,018	+4.8%	3.03%
ALPIB	Alpine Banks Of Colorado Financial Services	Reduced	204,321	-32,994	$9,766,543	+3.4%	2.60%
PGC	Peapack Gladstone Financial Corp Financial Services	Reduced	273,947	-23,800	$9,645,673	+16.3%	2.57%
SFST	Southern First Bancshares Inc Financial Services	Held	171,655	0	$9,355,197	+5.8%	2.49%
BANC	Banc Of California, Inc. Financial Services	Held	519,738	0	$9,136,994	−8.9%	2.43%
FBIZ	First Business Financial Services, Inc. Financial Services	Held	166,224	0	$8,964,460	−0.7%	2.39%
MYFW	First Western Financial Inc Financial Services	Added	348,404	+2,314	$8,563,770	−7.7%	2.28%
CBAN	Colony Bankcorp Inc Financial Services	Reduced	419,478	-8,000	$8,376,975	+10.0%	2.23%
ISTR	Investar Holding Corp Financial Services	Reduced	306,896	-306,896	$8,369,053	−49.0%	2.23%
CNOB	ConnectOne Bancorp, Inc. Financial Services	Added	310,195	+82,400	$8,303,920	+39.0%	2.21%
ALRS	Alerus Financial Corp Financial Services	Added	349,165	+134,198	$8,278,702	+71.0%	2.21%
BRBS	Blue Ridge Bankshares, Inc. Financial Services	Reduced	1,889,033	-140,000	$7,933,938	−8.4%	2.11%
MRBK	Meridian Corp Financial Services	Added	369,333	+48,414	$7,002,553	+24.1%	1.87%
TFIN	Triumph Financial, Inc. Financial Services	Held	117,136	0	$6,988,333	−4.7%	1.86%
MPB	Mid Penn Bancorp Inc Financial Services	Held	207,982	0	$6,688,701	+3.7%	1.78%
MBWM	Mercantile Bank Corp Financial Services	Added	131,160	+319	$6,623,580	+5.2%	1.76%
CCNB	Coastal Carolina Bancshares, Inc. Financial Services	Held	466,771	0	$6,488,116	+7.1%	1.73%
CCNE	Cnb Financial Corp/Pa Financial Services	Added	222,375	+5,200	$6,439,980	+13.3%	1.72%
TCBX	Third Coast Bancshares, Inc. Financial Services	Added	169,064	+11,558	$6,395,691	+6.8%	1.70%
BFST	Business First Bancshares, Inc. Financial Services	Added	234,257	+43,708	$6,334,309	+27.2%	1.69%
OBT	Orange County Bancorp, Inc. /DE/ Financial Services	Held	197,536	0	$6,317,201	+12.0%	1.68%
FSUN	Firstsun Capital Bancorp Financial Services	Held	168,489	0	$6,143,108	−3.1%	1.64%
SMBK	Smartfinancial Inc. Financial Services	Reduced	150,087	-50,500	$5,865,399	−20.9%	1.56%
UBFO	UNITED SECURITY BANCSHARES Financial Services	Reduced	532,316	-4,000	$5,594,641	+3.6%	1.49%
BPRN	Princeton Bancorp, Inc. Financial Services	Held	153,926	0	$5,198,081	−2.7%	1.38%
BSVN	Bank7 Corp. Financial Services	Held	128,519	0	$5,125,337	−2.7%	1.37%
WRIV	White River Bancshares Co Financial Services	Held	89,000	0	$4,717,000	+7.1%	1.26%
BWFG	Bankwell Financial Group, Inc. Financial Services	Held	96,423	0	$4,678,443	+5.9%	1.25%
CBSH	Commerce Bancshares Inc /Mo/ Financial Services	NEW	86,774	NEW	$4,269,280	NEW	1.14%
CZWI	Citizens Community Bancorp Inc. Financial Services	Reduced	206,055	-40,231	$4,079,889	−7.0%	1.09%
AMTB	Amerant Bancorp Inc. Financial Services	Held	180,000	0	$3,967,200	+13.0%	1.06%
BSRR	Sierra Bancorp Financial Services	Reduced	113,255	-8,169	$3,841,609	−3.2%	1.02%
FNRN	First Northern Community Bancorp Financial Services	Reduced	234,181	-67,516	$3,721,136	−7.7%	0.99%
SHBI	Shore Bancshares Inc Financial Services	Reduced	195,563	-9,000	$3,653,116	+1.0%	0.97%
LNKB	LINKBANCORP, Inc. Financial Services	Held	401,593	0	$3,349,285	+1.0%	0.89%
INBK	First Internet Bancorp Financial Services	Held	162,176	0	$3,305,146	−2.3%	0.88%
FVCB	FVCBankcorp, Inc. Financial Services	Held	214,088	0	$3,251,996	+9.2%	0.87%
FSBC	Five Star Bancorp Financial Services	Reduced	85,919	-10,000	$3,240,864	−5.6%	0.86%
BUSE	First Busey Corp /Nv/ Financial Services	Added	127,077	+51,500	$3,211,235	+78.6%	0.86%
FFWM	First Foundation Inc. Financial Services	Held	432,396	0	$2,551,136	−4.2%	0.68%
EFSI	Eagle Financial Services Inc Financial Services	Held	65,000	0	$2,273,700	−12.1%	0.61%
MVBF	Mvb Financial Corp Financial Services	Added	91,244	+56,200	$2,265,588	+150.3%	0.60%
CBNK	Capital Bancorp Inc Financial Services	Added	75,300	+53,900	$2,239,422	+271.5%	0.60%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.