Ategra Capital Management, LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Ategra Capital Management, LLC reported 22 stock positions worth $149.2 million. Its top holding was Financial Institutions (FISI) at 10.4% of the portfolio, followed by Truist Financial (TFC, 9.7%) and Axos Financial (AX, 8.0%). Compared with Q2 2025, it opened 4 new positions, sold out of 1, added to 5 and reduced 5. The biggest buy was a new position in American Riviera Bancorp (ARBV) and the biggest sale Axos Financial (AX, shares −36%).

Most Recent 13F
Q2 2026
Location
VIENNA, VA
CIK
0001741369
Portfolio Value
$149.2M (Q3 2025)
SEC Filing
0000919574-25-006841 ↗ filed Nov 14, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $217.6M Q1 2024 Q2 2024: $116.7M Q2 2024 Q3 2024: $137.5M Q3 2024 Q4 2024: $148.3M Q4 2024 Q1 2025: $123.7M Q1 2025 Q2 2025: $125.8M Q2 2025 Q3 2025: $149.2M $149.2M Q3 2025 Q4 2025: $175.0M Q4 2025 Q1 2026: $179.6M Q1 2026 Q2 2026: $188.1M Q2 2026

Holdings 22 stocks · $149.2M
FISI Financial Institutions Inc. 10.43% 572,075 $15.6M No change
TFC Truist Financial Corp. 9.74% 317,620 $14.5M Reduce -13.4%
AX Axos Financial Inc. 7.96% 140,342 $11.9M Reduce -36.3%
BBT Beacon Financial Corp. 7.69% 483,904 $11.5M Add +74.1%
CFG Citizens Financial Group 7.31% 205,007 $10.9M Add +192.8%
HWBK Hawthorn Bancshares Inc. 7.12% 342,390 $10.6M No change
QQQ Invesco QQQ Trust Series 1 6.38% 15,839 $9.5M Add +53.2%
PKBK Parke Bancorp Inc. 6.36% 440,327 $9.5M Add +1.8%
VOO Vanguard S&P 500 ETF 6.04% 14,724 $9.0M Reduce -19.2%
ARBV American Riviera Bancorp 5.61% 380,700 $8.4M New
CBNK Capital Bancorp Inc. 4.95% 231,256 $7.4M No change
TCBX Third Coast Bancshares Inc. 4.64% 182,182 $6.9M Reduce -22.3%
MRBK Meridian Corp. 4.31% 406,940 $6.4M Reduce -34.0%
FVCB Fvcbankcorp Inc. 3.21% 368,633 $4.8M Add +211.3%
AUB Atlantic Union Bankshares Co. 1.75% 74,000 $2.6M No change
BA The Boeing Co. 1.69% 11,700 $2.5M New
PFE Pfizer Inc. 1.20% 70,000 $1.8M No change
MVBF MVB Financial Corp. 0.92% 54,855 $1.4M New
IWN iShares Russell 2000 Value E 0.79% 6,678 $1.2M No change
CFFI C & F Financial Corp. filed as C & F FINL CORP 0.74% 16,472 $1.1M No change
SHBI Shore Bancshares Inc. 0.63% 56,939 $934K No change
EGBN Eagle Bancorp Inc. 0.54% 39,552 $800K New

Options reported separately and not counted above: QQQ puts ($12.0M), TFC calls ($6.9M), RY puts ($1.5M).

Portfolio Sells Q2 2025 → Q3 2025
AX Axos Financial Inc. Reduce -36.3% 7.96% −5.35
TFC Truist Financial Corp. Reduce -13.4% 9.74% −2.80
VOO Vanguard S&P 500 ETF Reduce -19.2% 6.04% −2.19
MRBK Meridian Corp. Reduce -34.0% 4.31% −2.01
SGOV iShares 0-3 Month Treasury B Sold out 0.00% −1.50
TCBX Third Coast Bancshares Inc. Reduce -22.3% 4.64% −1.45

Portfolio Buys Q2 2025 → Q3 2025
ARBV American Riviera Bancorp New 5.61% +5.61
CFG Citizens Financial Group Add +192.8% 7.31% +4.82
BBT Beacon Financial Corp. Add +74.1% 7.69% +2.16
FVCB Fvcbankcorp Inc. Add +211.3% 3.21% +2.09
QQQ Invesco QQQ Trust Series 1 Add +53.2% 6.38% +1.84
BA The Boeing Co. New 1.69% +1.69
MVBF MVB Financial Corp. New 0.92% +0.92
EGBN Eagle Bancorp Inc. New 0.54% +0.54
PKBK Parke Bancorp Inc. Add +1.8% 6.36% −0.65

Options Activity Q2 2025 → Q3 2025
QQQ Invesco QQQ Trust Series 1 put New 20,000 $12.0M
SPY SS SPDR S&P 500 ETF Trust-US put Sold out 18,000 $46Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 20$188.1MFISI, TFC, CFG, HWBK, WFC
Q1 2026 23$179.6MTFC, FISI, BBT, CFG, HWBK
Q4 2025 25$175.0MFISI, TFC, CFG, BBT, AX
Q3 2025 22$149.2MFISI, TFC, AX, BBT, CFG
Q2 2025 19$125.8MAX, TFC, FISI, VOO, HWBK
Q1 2025 17$123.7MAX, FISI, TFC, FHN, VOO
Q4 2024 20$148.3MFISI, AX, TFC, MRBK, FHN
Q3 2024 19$137.5MFISI, TFC, MRBK, VOO, WFC
Q2 2024 21$116.7MAX, TFC, FISI, VOO, MRBK
Q1 2024 89$217.6MVOO, AX, TFC, WFC, IBCP