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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
+6.27%
1 Year Est. Return
+30.43%
3 Year Est. Return
+25.14%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$191M
AUM Growth
+$1.96M
Cap. Flow
-$12.9M
Cap. Flow %
-6.75%
Top 10 Hldgs %
55.22%
Holding
36
New
15
Increased
5
Reduced
7
Closed
9

Top Buys

Rank Stock Value
1
BILL icon
BILL Holdings
BILL
+$13.1M
2
FUTU icon
Futu Holdings
FUTU
+$9.71M
3
FHI icon
Federated Hermes
FHI
+$7.88M
4
CBOE icon
Cboe Global Markets
CBOE
+$6.58M
5
RPAY icon
Repay Holdings
RPAY
+$6.18M

Top Sells

Rank Stock Value
1
KMPR icon
Kemper
KMPR
+$12.1M
2
C icon
Citigroup
C
+$11.6M
3
ENV
ENVESTNET, INC.
ENV
+$10.8M
4
INVH icon
Invitation Homes
INVH
+$9.12M
5
GPN icon
Global Payments
GPN
+$8.37M

Sector Composition

Rank Sector Weight
1 Financials 47.8%
2 Real Estate 21.8%
3 Technology 19.24%
4 Communication Services 4.95%
5 Industrials 3.38%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LAZ icon
26
Lazard
LAZ
$4.39B
$2.71M 1.42%
64,704
-72,882
-53% -$2.84M
MCY icon
27
Mercury Insurance
MCY
$5.79B
$2.56M 1.34%
+49,604
New +$2.19M
C icon
28
Citigroup
C
$231B
– –
-225,112
Closed -$11.6M
FAF icon
29
First American
FAF
$7.43B
– –
-119,127
Closed -$7.68M
GPN icon
30
Global Payments
GPN
$24.5B
– –
-65,895
Closed -$8.37M
HPP
31
Hudson Pacific Properties
HPP
$684M
– –
-77,174
Closed -$5.03M
ICE icon
32
Intercontinental Exchange
ICE
$90.5B
– –
-56,578
Closed -$7.27M
INVH icon
33
Invitation Homes
INVH
$16.9B
– –
-267,434
Closed -$9.12M
SSNC icon
34
SS&C Technologies
SSNC
$19.6B
– –
-116,696
Closed -$7.13M
TWO
35
DELISTED
Two Harbors Investment
TWO
– –
-581,871
Closed -$8.11M
WAL icon
36
Western Alliance Bancorporation
WAL
$8.83B
– –
-120,914
Closed -$7.95M
1
2

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Phase 2 Partners's Q1 2024 Portfolio in Review

As of Q1 2024, Phase 2 Partners held 36 positions worth $191M, up 1% from $189M the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Phase 2 Partners withdrew a net $12.9M in Q1 2024, closing 9 positions and reducing 7 holdings. Its most notable exit was Citigroup, an estimated $11.6M position sold in full.

By sector, the portfolio is most concentrated in Financials at 48% of assets, up from 47% a quarter earlier, followed by Real Estate and Technology.

Against the trend, Phase 2 Partners opened a new position in BILL Holdings worth $12.9M.

  • Phase 2 Partners's largest Q1 2024 buy was BILL Holdings: 187,688 shares worth $12.9M.
  • Phase 2 Partners added most to Zillow in Q1 2024, an estimated $4.88M increase.
  • Phase 2 Partners's biggest Q1 2024 reduction was Kemper, cutting an estimated $12.1M.
  • Phase 2 Partners fully exited Citigroup in Q1 2024, selling an estimated $11.6M.
  • Phase 2 Partners's ten largest holdings make up 55% of its $191M portfolio in Q1 2024.
  • Phase 2 Partners opened 15 new positions and closed 9 in Q1 2024.
  • Phase 2 Partners's portfolio value rose 1% quarter-over-quarter to $191M.

Based on Phase 2 Partners's 13F filing for Q1 2024, filed 15 May 2024.