Q2 2026 13F · SEC CIK 1029311

Banc Funds Co LLC

Asset managerFiled 2026-08-13 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $605.5M
Reported positions: 92
Top holdings a year, 3 yrs: +22.6%
Average holding period: 6.6 yrs

Banc Funds Co LLC is an asset manager that reported 92 positions worth $605.5M in its Q2 2026 13F, filed 2026-08-13. Its largest holdings were Old Second Bancorp Inc D (OSBC, 4.0%), Private Bancorp of Amer Inc (PBAM, 3.8%), Avidbank Hldgs Inc (AVBH, 3.6%). A portfolio copying its top holdings returned 22.6% a year over the last 3 years, against 20.4% for the S&P 500.

Banc Funds Co LLC holdings largest 50 of 92 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Banc Funds Co LLC 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
OSBCOld Second Bancorp Inc D	4.0%	3.9%	1,034,143	+0.5%	$24.1M
PBAMPrivate Bancorp of Amer Inc	3.8%	3.9%	313,859	+1.3%	$23.2M
AVBHAvidbank Hldgs Inc	3.6%	3.5%	668,100	+0.5%	$22.1M
UNTYUnity Bancorp Inc	3.6%	3.6%	370,469	-1.3%	$21.7M
FCBMFirst Carolina Financial Services, Inc	2.9%	—	1,338,750	—	$17.7M
BCALCalifornia BanCorp	2.8%	2.7%	816,155	-1.8%	$17.0M
AMBZAmerican Business Bank	2.8%	3.2%	229,173	-6.8%	$16.7M
FRBAFirst Bk Williamstown New Je	2.5%	2.6%	864,205	+0.0%	$15.3M
WCCBWest Coast Community Bancorp	2.5%	2.4%	301,420	+9.0%	$15.1M
MCBMetropolitan Bk Hldg Corp	2.4%	2.2%	147,221	+3.5%	$14.5M
FRSTPrimis Financial Corp	2.4%	2.2%	872,961	+0.0%	$14.3M
MBINMerchants Bancorp Ind	2.4%	2.2%	285,062	+1.4%	$14.3M
MNSBMainstreet Bancshares Inc	2.2%	2.2%	545,679	+2.8%	$13.5M
PGCPeapack-Gladstone Finl Corp	2.1%	1.8%	273,947	+0.0%	$13.0M
TCBITexas Cap Bancshares Inc Com	2.0%	2.1%	119,762	+0.0%	$12.4M
MYFWFirst Western Financial	1.8%	1.6%	342,404	-1.7%	$11.0M
ALRSAlerus Finl Corp Com	1.8%	1.5%	349,165	+0.0%	$10.9M
BANCBanc of California Inc	1.8%	1.7%	519,738	+0.0%	$10.6M
CNOBConnectone Bancorp Inc	1.7%	1.5%	310,195	+0.0%	$10.4M
FBIZFirst Business Financial Servi	1.7%	1.7%	163,224	-1.8%	$10.3M
SFSTSouthern First Bancshares	1.6%	1.7%	162,655	-5.2%	$9.9M
ALPIBAlpine Banks of Colorado	1.6%	1.8%	204,321	+0.0%	$9.8M
FSUNFirstsun Cap Bancorp	1.5%	1.1%	238,031	+41.3%	$9.2M
ISTRInvestar Holding Corp	1.5%	1.5%	306,896	+0.0%	$9.2M
TBKTriumph Financial Inc	1.5%	1.3%	117,136	+0.0%	$8.9M
CBANColony Bankcorp Inc	1.5%	1.6%	441,478	+5.2%	$8.9M
CCNBCoastal Carolina Bancshares, Inc.	1.4%	1.2%	492,071	+5.4%	$8.3M
MRBKMeridian Corp	1.3%	1.3%	382,533	+3.6%	$7.7M
MBWMMercantile Bk Corp	1.2%	1.2%	131,160	+0.0%	$7.5M
CCNECnb Finl Corp Pa	1.2%	1.2%	222,375	+0.0%	$7.5M
MPBMid Penn Bancorp Inc	1.2%	1.2%	207,982	+0.0%	$7.2M
BFSTBusiness First Bancshares in	1.2%	1.2%	234,257	+0.0%	$7.2M
OBTOrange Cnty Bancorp Inc	1.1%	1.2%	186,035	-5.8%	$6.8M
TCBXThird Coast Bancshares Inc	1.1%	1.2%	169,064	+0.0%	$6.8M
BRBSBlue Ridge Bankshares Inc Va	1.1%	1.5%	1,889,033	+0.0%	$6.7M
CWBCCommunity West Bancshares	1.1%	—	240,606	—	$6.5M
BSVNBank7 Corp	1.0%	1.0%	128,519	+0.0%	$6.3M
BHRBBurke Herbert Finl Svcs Corp	1.0%	—	82,374	—	$5.9M
BPRNPrinceton Bancorp Inc	1.0%	1.0%	153,926	+0.0%	$5.8M
STBKStudio Bank	0.9%	1.0%	429,056	+0.0%	$5.6M
RCBCRiver City Bank/ca	0.9%	0.8%	128,354	+26.3%	$5.6M
FSRLFirst Reliance Bancshares, Inc.	0.9%	0.9%	297,472	-12.8%	$5.5M
BWFGBankwell Finl Group Inc	0.9%	0.9%	90,423	-6.2%	$5.3M
BSFOBank of San Francisco	0.8%	0.8%	117,072	+1.7%	$5.1M
WRIVWhite River Bancshares Company	0.8%	0.9%	89,000	+0.0%	$4.9M
SMBKSmartfinancial Inc	0.8%	1.1%	97,626	-35.0%	$4.6M
CZWICitizens Cmnty Bancorp Inc M	0.8%	0.8%	195,055	-5.3%	$4.6M
INBKFirst Internet Bancorp	0.7%	—	162,176	—	$4.5M
SABKSouth Atlantic Bancshares, Inc.	0.7%	0.8%	175,596	-2.1%	$4.5M
20370L103Community Heritage Financial Inc.	0.7%	—	125,424	—	$4.5M

What Banc Funds Co LLC bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +34.2% /yr; S&P 500 +20.1%
3 years: +22.6% /yr; S&P 500 +20.4%
5 years: +7.7% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F 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

Questions about Banc Funds Co LLC's portfolio

What stocks does Banc Funds Co LLC own?

Banc Funds Co LLC's latest 13F, for Q2 2026 and filed Aug 13, 2026, lists 92 positions worth $605.5M. The largest are Old Second Bancorp Inc D (OSBC) at 4.0%, Private Bancorp of Amer Inc (PBAM) at 3.8%, Avidbank Hldgs Inc (AVBH) at 3.6%, Unity Bancorp Inc (UNTY) at 3.6% and First Carolina Financial Services, Inc (FCBM) at 2.9%.

What did Banc Funds Co LLC buy last quarter?

In Q2 2026, Banc Funds Co LLC added Firstsun Cap Bancorp (FSUN) (+41.3% shares), River City Bank/ca (RCBC) (+26.3% shares) and West Coast Community Bancorp (WCCB) (+9.0% shares), compared with its Q1 2026 filing.

What did Banc Funds Co LLC sell last quarter?

In Q2 2026, Banc Funds Co LLC cut from its top 50 Mountain Commerce Bancorp (MCBI), cut from its top 50 United Security Bs (UBFO), cut from its top 50 First Capital Bancshares, Inc. (FCPB), cut from its top 50 Commerce Bancshares Inc (CBSH), cut from its top 50 Oregon Pacific Bancorp (ORPB), Smartfinancial Inc (SMBK) (-35.0% shares), First Reliance Bancshares, Inc. (FSRL) (-12.8% shares) and American Business Bank (AMBZ) (-6.8% shares), compared with its Q1 2026 filing.

How has Banc Funds Co LLC's portfolio performed?

A portfolio copying Banc Funds Co LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +22.6% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +34.2% against +20.1%. Over 5 years: +7.7% a year against +11.6%.

When is Banc Funds Co LLC's next 13F filing due?

13F filings are due 45 days after each quarter ends. Banc Funds Co LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.