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SCC
Second Curve Capital Portfolio holdings
AUM
$93.1M
1-Year Est. Return
66.93%
This Fund
S&P 500
This Quarter
Est. Return
+8.32%
1 Year Est. Return
+66.93%
3 Year Est. Return
+159.53%
5 Year Est. Return
+126.53%
10 Year Est. Return
–
AUM
$482M
AUM Growth
+$36.2M
(+8.1%)
Cap. Flow
+$8.45M
Cap. Flow
% of AUM
1.76%
Top 10 Holdings %
Top 10 Hldgs %
78.67%
Holding
34
New
4
Increased
10
Reduced
11
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Regional Management Corp
RM
|
+$15M |
| 2 |
OneMain Financial
OMF
|
+$6.41M |
| 3 |
WLH
WILLIAM LYON HOMES
WLH
|
+$5.97M |
| 4 |
SIVB
SVB Financial Group
SIVB
|
+$5.87M |
| 5 |
Consumer Portfolio Services
CPSS
|
+$5.83M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SNBC
Sun Bancorp Inc
SNBC
|
+$13.4M |
| 2 |
UCB
United Community Banks
UCB
|
+$10.6M |
| 3 |
Citigroup
C
|
+$5.57M |
| 4 |
PRS
PRIMUS GUARANTY LTD
PRS
|
+$3.23M |
| 5 |
OFG Bancorp
OFG
|
+$2.75M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 75.11% |
| 2 | Miscellaneous | 13.89% |
| 3 | Consumer Discretionary | 8.15% |
| 4 | Industrials | 1.71% |
| 5 | Real Estate | 0.91% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Evertec
EVTC
$1.81B
| $1.11M | 0.23% |
45,000
-15,000
| -25% | -$339K |
|
27
Genworth Financial
GNW
$3.91B
| $776K | 0.16% |
+50,000
| New | +$722K |
|
|
BAC.WS.B
28
DELISTED
Bank Of America Corporation Ws B
BAC.WS.B
| $571K | 0.12% |
741,000
| – | – |
|
|
SNBC
29
DELISTED
Sun Bancorp Inc
SNBC
| $489K | 0.1% |
27,784
-764,783
| -96% | -$13.4M |
|
30
First Bancorp
FBNC
$2.69B
| – | – |
-20,000
| Closed | -$289K |
|
31
First Citizens BancShares
FCNCA
$24.9B
| – | – |
-2,000
| Closed | -$411K |
|
32
Republic Bancorp
RBCAA
$1.9B
| – | – |
-65,267
| Closed | -$1.8M |
|
|
UCB
33
United Community Banks
UCB
$4.3B
| – | – |
-710,137
| Closed | -$10.6M |
|
|
PRS
34
DELISTED
PRIMUS GUARANTY LTD
PRS
| – | – |
-327,250
| Closed | -$3.23M |
|
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Second Curve Capital's Q4 2013 Portfolio in Review
As of Q4 2013, Second Curve Capital held 34 positions worth $482M, up 8.1% from $445M the previous quarter. Its ten largest holdings account for 79% of the portfolio.
Second Curve Capital's Q4 2013 filing shows 4 new, 10 increased, 11 reduced and 5 closed positions. Its largest new stake was OneMain Financial: 300,000 shares worth $7.58M. The largest sale was Sun Bancorp Inc, an estimated $13.4M.
By sector, the portfolio is most concentrated in Financials at 75% of assets, down from 77% a quarter earlier, followed by Miscellaneous and Consumer Discretionary.
- Second Curve Capital's largest Q4 2013 buy was OneMain Financial: 300,000 shares worth $7.58M.
- Second Curve Capital added most to Regional Management Corp in Q4 2013, an estimated $15M increase.
- Second Curve Capital's biggest Q4 2013 reduction was Sun Bancorp Inc, cutting an estimated $13.4M.
- Second Curve Capital fully exited United Community Banks in Q4 2013, selling an estimated $10.6M.
- Second Curve Capital's ten largest holdings make up 79% of its $482M portfolio in Q4 2013.
- Second Curve Capital opened 4 new positions and closed 5 in Q4 2013.
- Second Curve Capital's portfolio value rose 8.1% quarter-over-quarter to $482M.
Based on Second Curve Capital's 13F filing for Q4 2013, filed 12 Feb 2014.