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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
+8.53%
1 Year Est. Return
+30.43%
3 Year Est. Return
+25.14%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$220M
AUM Growth
-$11.5M
(-5%)
Cap. Flow
-$27.8M
Cap. Flow
% of AUM
-12.59%
Top 10 Holdings %
Top 10 Hldgs %
58.76%
Holding
34
New
8
Increased
5
Reduced
10
Closed
11
Top Buys
| 1 |
ENV
ENVESTNET, INC.
ENV
|
+$14.2M |
| 2 |
Flywire
FLYW
|
+$12.5M |
| 3 |
Procore
PCOR
|
+$11.7M |
| 4 |
MGIC Investment
MTG
|
+$9.92M |
| 5 |
Lazard
LAZ
|
+$9.55M |
Top Sells
| 1 |
CME Group
CME
|
+$18.9M |
| 2 |
Mastercard
MA
|
+$8.95M |
| 3 |
ACI Worldwide
ACIW
|
+$8.84M |
| 4 |
WEX
WEX
|
+$7.16M |
| 5 |
Jack Henry & Associates
JKHY
|
+$7.01M |
Sector Composition
| 1 | Financials | 52.83% |
| 2 | Technology | 31.63% |
| 3 | Real Estate | 8.59% |
| 4 | Industrials | 6.94% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Flywire
FLYW
$2.24B
| $17.4M | 7.9% |
560,732
+416,839
| +290% | +$12.5M |
|
|
ENV
2
DELISTED
ENVESTNET, INC.
ENV
| $14.6M | 6.61% |
+245,487
| New | +$14.2M |
|
3
Q2 Holdings
QTWO
$3.43B
| $13.9M | 6.3% |
449,569
-18,873
| -4% | -$495K |
|
4
LPL Financial
LPLA
$26B
| $13.8M | 6.26% |
63,493
+23,152
| +57% | +$4.64M |
|
|
5
Procore
PCOR
$6.93B
| $13M | 5.89% |
+199,557
| New | +$11.7M |
|
6
SS&C Technologies
SSNC
$16.8B
| $12.2M | 5.55% |
202,062
+1,119
| +0.6% | +$63.6K |
|
7
S&P Global
SPGI
$133B
| $12.2M | 5.53% |
30,388
-974
| -3% | -$356K |
|
8
AllianceBernstein
AB
$3.54B
| $11M | 5% |
342,957
+146,894
| +75% | +$5.03M |
|
9
Western Alliance Bancorporation
WAL
$8.99B
| $10.8M | 4.92% |
297,282
-174,313
| -37% | -$6.05M |
|
|
10
MGIC Investment
MTG
$6.23B
| $10.6M | 4.79% |
+669,019
| New | +$9.92M |
|
|
BKI
11
DELISTED
Black Knight, Inc. Common Stock
BKI
| $10.4M | 4.72% |
174,365
-67,255
| -28% | -$3.78M |
|
12
Boston Properties
BXP
$11.1B
| $10.4M | 4.71% |
+180,156
| New | +$9.37M |
|
|
13
Lazard
LAZ
$4.25B
| $9.88M | 4.48% |
+308,813
| New | +$9.55M |
|
14
Blackrock
BLK
$166B
| $9.3M | 4.22% |
13,450
-3,625
| -21% | -$2.43M |
|
15
WisdomTree
WT
$3.07B
| $9M | 4.08% |
1,311,449
+863,765
| +193% | +$5.77M |
|
16
SLM Corp
SLM
$4.78B
| $8.62M | 3.91% |
528,356
-409,164
| -44% | -$6.23M |
|
17
Douglas Emmett
DEI
$2.1B
| $8.57M | 3.89% |
+681,430
| New | +$8.23M |
|
18
TransUnion
TRU
$15.4B
| $7.77M | 3.52% |
99,147
-41,022
| -29% | -$2.84M |
|
19
Kemper
KMPR
$1.65B
| $6.88M | 3.12% |
142,595
-52,395
| -27% | -$2.54M |
|
20
Radian Group
RDN
$5.24B
| $6.27M | 2.85% |
248,081
-200,515
| -45% | -$4.93M |
|
21
BILL Holdings
BILL
$4.45B
| $2.78M | 1.26% |
+23,831
| New | +$2.26M |
|
22
Alta Equipment Group
ALTG
$208M
| $735K | 0.33% |
+42,417
| New | +$626K |
|
|
23
CME Group
CME
$88.5B
| $327K | 0.15% |
1,765
-102,395
| -98% | -$18.9M |
|
|
24
ACI Worldwide
ACIW
$5.9B
| – | – |
-327,803
| Closed | -$8.84M |
|
25
Ally Financial
ALLY
$14B
| – | – |
-275,150
| Closed | -$7.01M |
|
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Phase 2 Partners's Q2 2023 Portfolio in Review
As of Q2 2023, Phase 2 Partners held 34 positions worth $220M, down 5% from $232M the previous quarter. Its ten largest holdings account for 59% of the portfolio.
Phase 2 Partners withdrew a net $27.8M in Q2 2023, closing 11 positions and reducing 10 holdings. Its most notable exit was Mastercard, an estimated $8.95M position sold in full.
By sector, the portfolio is most concentrated in Financials at 53% of assets, down from 72% a quarter earlier, followed by Technology and Real Estate.
Against the trend, Phase 2 Partners opened a new position in ENVESTNET, INC. worth $14.6M.
- Phase 2 Partners's largest Q2 2023 buy was ENVESTNET, INC.: 245,487 shares worth $14.6M.
- Phase 2 Partners added most to Flywire in Q2 2023, an estimated $12.5M increase.
- Phase 2 Partners's biggest Q2 2023 reduction was CME Group, cutting an estimated $18.9M.
- Phase 2 Partners fully exited Mastercard in Q2 2023, selling an estimated $8.95M.
- Phase 2 Partners's ten largest holdings make up 59% of its $220M portfolio in Q2 2023.
- Phase 2 Partners opened 8 new positions and closed 11 in Q2 2023.
- Phase 2 Partners's portfolio value fell 5% quarter-over-quarter to $220M.
Based on Phase 2 Partners's 13F filing for Q2 2023, filed 14 Aug 2023.