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SCC

Second Curve Capital Portfolio holdings

AUM $93.1M Turnover 41.94%
1-Year Est. Return 66.93%
This Fund
S&P 500
This Quarter Est. Return
+9.23%
1 Year Est. Return
+66.93%
3 Year Est. Return
+159.53%
5 Year Est. Return
+126.53%
10 Year Est. Return
–
AUM
$93.1M
AUM Growth
+$12.5M
Cap. Flow
+$8.56M
Cap. Flow %
9.2%
Top 10 Hldgs %
63.72%
Holding
31
New
8
Increased
8
Reduced
7
Closed
5
Avg Time Held
1.2 years
Top 10 Avg Time Held
1.8 years
Top 20 Avg Time Held
1.5 years

Top Buys

Rank Stock Value
1
MCB icon
Metropolitan Bank Holding Corp
MCB
+$3.58M
2
ATLC icon
Atlanticus Holdings
ATLC
+$3.28M
3
CCB icon
Coastal Financial
CCB
+$1.95M
4
ALLY icon
Ally Financial
ALLY
+$1.68M
5
CASH icon
Pathward Financial
CASH
+$1.49M

Top Sells

Rank Stock Value
1
COIN icon
Coinbase
COIN
+$2.96M
2
TBBK icon
The Bancorp
TBBK
+$2.65M
3
RM icon
Regional Management Corp
RM
+$1.62M
4
RBB icon
RBB Bancorp
RBB
+$1.25M
5
ENVA icon
Enova International
ENVA
+$1.02M

Sector Composition

Rank Sector Weight
1 Financials 98.53%
2 Technology 1.47%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
CURO
1
DELISTED
CURO Group Holdings Corp.
CURO
$9.83M 10.56%
614,125
-7,895
-1% -$137K
2018 Q2
14 quarters
MVBF icon
2
MVB Financial
MVBF
$374M
$6.74M 7.24%
162,403
-4,281
-3% -$181K
2019 Q2
10 quarters
ALLY icon
3
Ally Financial
ALLY
$11.2B
$6.46M 6.94%
135,650
+34,000
+33% +$1.68M
2020 Q2
6 quarters
CCB icon
4
Coastal Financial
CCB
$628M
$5.76M 6.19%
113,753
+47,000
+70% +$1.95M
2021 Q3
1 quarter
ENVA icon
5
Enova International
ENVA
$4.34B
$5.33M 5.72%
130,000
-27,000
-17% -$1.02M
2021 Q1
3 quarters
ECPG icon
6
Encore Capital Group
ECPG
$2.14B
$5.16M 5.54%
83,042
+21,700
+35% +$1.22M
2016 Q4
20 quarters
CASH icon
7
Pathward Financial
CASH
$1.47B
$5.12M 5.5%
85,837
+25,000
+41% +$1.49M
2020 Q4
4 quarters
TBBK icon
8
The Bancorp
TBBK
$1.97B
$5.09M 5.47%
201,074
-92,000
-31% -$2.65M
2013 Q2
34 quarters
OMF icon
9
OneMain Financial
OMF
$6.29B
$5.01M 5.38%
100,089
+19,500
+24% +$1.03M
2020 Q3
5 quarters
VBTX icon
10
DELISTED
Veritex Holdings
VBTX
$4.82M 5.18%
121,178
+13,000
+12% +$527K
2021 Q1
3 quarters
TFIN icon
11
Triumph Financial Inc
TFIN
$1.46B
$4.73M 5.09%
39,752
-3,000
-7% -$359K
2020 Q3
5 quarters
COF icon
12
Capital One
COF
$119B
$4.5M 4.83%
31,019
+2,800
+10% +$433K
2020 Q4
4 quarters
MCB icon
13
Metropolitan Bank Holding Corp
MCB
$1.07B
$4M 4.3%
+37,600
New +$3.58M
2021 Q4
0 quarters
ATLC icon
14
Atlanticus Holdings
ATLC
$1.38B
$3.5M 3.75%
+49,000
New +$3.28M
2021 Q4
0 quarters
CNOB icon
15
Center Bancorp
CNOB
$1.5B
$2.94M 3.16%
90,000
– –
2021 Q2
2 quarters
QCRH icon
16
QCR Holdings
QCRH
$1.59B
$2.52M 2.71%
45,000
-10,000
-18% -$551K
2021 Q2
2 quarters
SIVB
17
DELISTED
SVB Financial Group
SIVB
$2.37M 2.55%
3,500
– –
2021 Q2
2 quarters
RM icon
18
Regional Management Corp
RM
$308M
$1.57M 1.69%
27,403
-28,386
-51% -$1.62M
2020 Q2
6 quarters
IIIV icon
19
i3 Verticals
IIIV
$288M
$1.37M 1.47%
60,000
– –
2021 Q1
3 quarters
SBNY
20
DELISTED
Signature Bank
SBNY
$1.13M 1.22%
+3,500
New +$1.09M
2021 Q4
0 quarters
AX icon
21
Axos Financial
AX
$4.91B
$1.12M 1.2%
+20,000
New +$1.12M
2021 Q4
0 quarters
MYFW icon
22
First Western Financial
MYFW
$285M
$1.12M 1.2%
36,818
+15,000
+69% +$449K
2021 Q3
1 quarter
INBK icon
23
First Internet Bancorp
INBK
$221M
$941K 1.01%
+20,000
New +$809K
2021 Q4
0 quarters
FRBA icon
24
First Bank
FRBA
$435M
$871K 0.94%
+60,000
New +$891K
2021 Q4
0 quarters
C icon
25
Citigroup
C
$205B
$604K 0.65%
+10,000
New +$665K
2021 Q4
0 quarters
1
2

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Second Curve Capital's Q4 2021 Portfolio in Review

As of Q4 2021, Second Curve Capital held 31 positions worth $93.1M, up 15% from $80.6M the previous quarter. Its ten largest holdings account for 64% of the portfolio.

Second Curve Capital deployed $8.56M of net new capital in Q4 2021, opening 8 new positions and adding to 8 existing holdings. Its largest new stake was Metropolitan Bank Holding Corp: 37,600 shares worth $4M.

By sector, the portfolio is most concentrated in Financials at 99% of assets, up from 98% a quarter earlier, followed by Technology.

On the sell side, the largest reduction was The Bancorp, an estimated $2.65M trimmed.

  • Second Curve Capital's largest Q4 2021 buy was Metropolitan Bank Holding Corp: 37,600 shares worth $4M.
  • Second Curve Capital added most to Coastal Financial in Q4 2021, an estimated $1.95M increase.
  • Second Curve Capital's biggest Q4 2021 reduction was The Bancorp, cutting an estimated $2.65M.
  • Second Curve Capital fully exited Coinbase in Q4 2021, selling an estimated $2.96M.
  • Second Curve Capital's ten largest holdings make up 64% of its $93.1M portfolio in Q4 2021.
  • Second Curve Capital opened 8 new positions and closed 5 in Q4 2021.
  • Second Curve Capital's portfolio value rose 15% quarter-over-quarter to $93.1M.

Based on Second Curve Capital's 13F filing for Q4 2021, filed 11 Feb 2022.