Banc Funds Co. LLC
Banc Funds Co LLC is a private investment management firm headquartered in Chicago, Illinois. Established to serve institutional and high net worth clients, Banc Funds specializes in managing funds that invest primarily in U.S. community banks and other financial services companies. The firm was founded by Charles J. Moore, who has served as its principal executive and investment manager, and oversees several related funds and partnerships focused on the financial sector. The employee count is typically under 20, reflecting the firm's boutique, specialized approach.
Investment Strategy
Banc Funds Co LLC focuses its investment strategy on identifying undervalued banking and financial services companies, particularly community banks throughout the United States. The firm uses deep fundamental analysis and a value-oriented approach, seeking to invest in banks and thrifts with strong management and growth potential. Banc Funds often participates as a significant shareholder and sometimes as an activist investor, engaging with management teams to unlock value and improve governance. Their approach is long-term and often involves private placements and other less liquid investments to capitalize on market inefficiencies among smaller financial institutions.
Latest 13F Filing Activity
Banc Funds Co. LLC filed their most recent 13F report on Jun 30, 2025 disclosing 78 equity positions with a total 13F market value of $662M. The fund increased holdings in Hanover Bancorp Inc., Old National Bancorp, Mainstreet Bancshares, Inc. among other positions. Banc Funds Co. LLC reduced exposure to Southern States Bancshares, Inc., Princeton Bancorp, Inc., Choiceone Financial Services, Inc. among others.
Top Holdings
Equity Positions (78)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
U UNTY | Unity Bancorp, Inc. | 3.73% | $24.7M | 524,218 | $16.09 | $47.08 | +$59.0K |
O OSBC | Old Second Bancorp, Inc. | 3.10% | $20.5M | 1,157,378 | $8.87 | $17.74 | -$843.5K |
B BCAL | California BanCorp. | 2.37% | $15.7M | 993,400 | $13.91 | $15.76 | -$1.3M |
F FRBA | First Bank | 2.32% | $15.3M | 991,249 | $10.13 | $15.47 | -$2.5M |
F FRST | Primis Financial Corporation | 2.25% | $14.9M | 1,369,088 | $14.10 | $10.85 | -$790.7K |
Industry Allocation
Investment Team (1)
| Name | Role | Location | |
|---|---|---|---|
 | Portfolio Manager | IL , United States |