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P2P

Phase 2 Partners Portfolio holdings

AUM $133M
1-Year Est. Return 30.43%
This Fund
S&P 500
This Quarter Est. Return
-1.87%
1 Year Est. Return
+30.43%
3 Year Est. Return
+25.14%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$232M
AUM Growth
+$10.4M
Cap. Flow
+$27.8M
Cap. Flow %
11.98%
Top 10 Hldgs %
55.15%
Holding
34
New
15
Increased
5
Reduced
6
Closed
8

Top Buys

Rank Stock Value
1
WAL icon
Western Alliance Bancorporation
WAL
+$28.9M
2
CME icon
CME Group
CME
+$18.8M
3
QTWO icon
Q2 Holdings
QTWO
+$13.9M
4
SLM icon
SLM Corp
SLM
+$13.8M
5
BLK icon
Blackrock
BLK
+$12M

Top Sells

Rank Stock Value
1
FLYW icon
Flywire
FLYW
+$19.2M
2
AVDX
AvidXchange
AVDX
+$18.5M
3
MQ icon
Marqeta
MQ
+$17.7M
4
BILL icon
BILL Holdings
BILL
+$14.7M
5
CG icon
Carlyle Group
CG
+$14.4M

Sector Composition

Rank Sector Weight
1 Financials 72.39%
2 Technology 27.61%
3 Industrials 0%
4 Real Estate 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WT icon
26
WisdomTree
WT
$3.77B
$2.62M 1.13%
+447,684
New +$2.61M
AVDX
27
DELISTED
AvidXchange
AVDX
– –
-1,858,599
Closed -$18.5M
BGC icon
28
BGC Group
BGC
$5.79B
– –
-1,208,777
Closed -$4.56M
BILL icon
29
BILL Holdings
BILL
$4.19B
– –
-135,194
Closed -$14.7M
CBOE icon
30
Cboe Global Markets
CBOE
$31.2B
– –
-40,927
Closed -$5.14M
CG icon
31
Carlyle Group
CG
$16.7B
– –
-482,557
Closed -$14.4M
MFA
32
MFA Financial
MFA
$905M
– –
-1,349,706
Closed -$13.3M
MQ icon
33
Marqeta
MQ
$1.73B
– –
-724,932
Closed -$17.7M
ENV
34
DELISTED
ENVESTNET, INC.
ENV
– –
-168,887
Closed -$10.4M
1
2

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Phase 2 Partners's Q1 2023 Portfolio in Review

As of Q1 2023, Phase 2 Partners held 34 positions worth $232M, up 4.7% from $221M the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Phase 2 Partners deployed $27.8M of net new capital in Q1 2023, opening 15 new positions and adding to 5 existing holdings. Its largest new stake was Western Alliance Bancorporation: 471,595 shares worth $16.8M.

By sector, the portfolio is most concentrated in Financials at 72% of assets, up from 44% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was Flywire, an estimated $19.2M trimmed.

  • Phase 2 Partners's largest Q1 2023 buy was Western Alliance Bancorporation: 471,595 shares worth $16.8M.
  • Phase 2 Partners added most to Radian Group in Q1 2023, an estimated $3.14M increase.
  • Phase 2 Partners's biggest Q1 2023 reduction was Flywire, cutting an estimated $19.2M.
  • Phase 2 Partners fully exited AvidXchange in Q1 2023, selling an estimated $18.5M.
  • Phase 2 Partners's ten largest holdings make up 55% of its $232M portfolio in Q1 2023.
  • Phase 2 Partners opened 15 new positions and closed 8 in Q1 2023.
  • Phase 2 Partners's portfolio value rose 4.7% quarter-over-quarter to $232M.

Based on Phase 2 Partners's 13F filing for Q1 2023, filed 15 May 2023.