1y return+35.7%S&P 500 +20.9%
3y return+102.2%S&P 500 +68.5%
5y return+50.3%S&P 500 +74.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since March 31, 2018: $232 against $284 in the S&P 500.2
Banc Funds Co LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| OSBCOld Second Bancorp, Inc. | $24.1M | 4.0% | |
| PBAMPrivate Bancorp of America, Inc. | $23.2M | 3.8% | +1.3% |
| AVBHAvidbank Holdings, Inc. | $22.1M | 3.6% | |
| UNTYUnity Bancorp, Inc. | $21.7M | 3.6% | −1.3% |
| FCBMFirst Carolina Financial Services, Inc. | $17.7M | 2.9% | New |
| BCALCalifornia BanCorp. | $17.0M | 2.8% | −1.8% |
| AMBZAmerican Business Bank | $16.7M | 2.8% | −6.8% |
| FRBAFirst Bank | $15.3M | 2.5% | |
| WCCBWest Coast Community Bancorp | $15.1M | 2.5% | +9.0% |
| MCBMetropolitan Bank Holding Corp. | $14.5M | 2.4% | +3.5% |
| FRSTPrimis Financial Corporation | $14.3M | 2.4% | |
| MBINMerchants Bancorp | $14.3M | 2.4% | +1.4% |
| MNSBMainStreet Bancshares, Inc. | $13.5M | 2.2% | +2.8% |
| PGCPeapack-Gladstone Financial Corporation | $13.0M | 2.1% | |
| TCBITexas Capital Bancshares, Inc. | $12.4M | 2.0% | |
| MYFWFirst Western Financial, Inc. | $11.0M | 1.8% | −1.7% |
| ALRSAlerus Financial Corporation | $10.9M | 1.8% | |
| BANCBanc of California, Inc. | $10.6M | 1.8% | |
| CNOBConnectOne Bancorp, Inc. | $10.4M | 1.7% | |
| FBIZFirst Business Financial Services, Inc. | $10.3M | 1.7% | −1.8% |
| SFSTSouthern First Bancshares, Inc. | $9.9M | 1.6% | −5.2% |
| ALPIBAlpine Banks of Colorado | $9.8M | 1.6% | |
| FSUNFirstSun Capital Bancorp | $9.2M | 1.5% | +41.3% |
| ISTRInvestar Holding Corporation | $9.2M | 1.5% | |
| TFINTriumph Bancorp, Inc. | $8.9M | 1.5% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| UNTYUnity Bancorp, Inc. | June 30, 2020 | +310.4% | $21.7M |
| FBIZFirst Business Financial Services, Inc. | June 30, 2020 | +284.1% | $10.3M |
| TFINTriumph Bancorp, Inc. | June 30, 2020 | +214.4% | $8.9M |
| OBTOrange County Bancorp, Inc. | June 30, 2020 | +209.7% | $6.8M |
| MCBMetropolitan Bank Holding Corp. | June 30, 2020 | +207.9% | $14.5M |
| OSBCOld Second Bancorp, Inc. | June 30, 2020 | +199.7% | $24.1M |
| FRBAFirst Bank | June 30, 2020 | +171.9% | $15.3M |
| MBINMerchants Bancorp | June 30, 2020 | +170.4% | $14.3M |
| MBWMMercantile Bank Corporation | June 30, 2020 | +154.1% | $7.5M |
| MRBKMeridian Bank | June 30, 2020 | +152.7% | $7.7M |
Sold off last quarter
- MCBIMountain Commerce Bancorp was $8.0M
- UBFOUnited Security Bankshares was $5.6M
- CBSHCommerce Bancshares, Inc. MO was $4.3M
- FNRNFirst Northern Community Bancorp was $3.7M
- LNKBLinkBancorp was $3.3M
- First Foundation Inc.CUSIP 32026V104 was $2.6M
- PSBQPSB Holdings, Inc. was $2.1M
- HNVRHanover Bancorp Inc. was $1.7M
- Heritage Commerce CorpCUSIP 426927109 was $938K
- FCCOFirst Community Corporation was $477K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +13.8% | +14.8% |
| March 31, 2026 | +4.5% | −4.6% |
| December 31, 2025 | +7.0% | +2.4% |
| September 30, 2025 | +6.7% | +7.8% |
| June 30, 2025 | +4.0% | +10.5% |
| March 31, 2025 | −6.3% | −4.6% |
| December 31, 2024 | +6.7% | +2.1% |
| September 30, 2024 | +16.7% | +5.4% |
| June 30, 2024 | +5.3% | +4.0% |
| March 31, 2024 | −8.4% | +10.0% |
| December 31, 2023 | +18.6% | +11.2% |
| September 30, 2023 | +7.2% | −3.6% |
| June 30, 2023 | −7.3% | +8.3% |
| March 31, 2023 | −15.8% | +7.0% |
| December 31, 2022 | −0.7% | +7.1% |
| September 30, 2022 | −1.8% | −5.3% |
| June 30, 2022 | −11.0% | −16.5% |
| March 31, 2022 | −1.9% | −4.9% |
| December 31, 2021 | +7.9% | +10.7% |
| September 30, 2021 | +3.6% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Banc Funds Co LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1029311&type=13F-HR&dateb=&owner=include&count=40CIK 1029311
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1029311/000102931126000048/Filed August 13, 2026 · accession 0001029311-26-000048