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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
-7.55%
1 Year Est. Return
+66.93%
3 Year Est. Return
+159.53%
5 Year Est. Return
+126.53%
10 Year Est. Return
–
AUM
$333M
AUM Growth
-$96.8M
Cap. Flow
-$57M
Cap. Flow %
-17.08%
Top 10 Hldgs %
77.14%
Holding
30
New
5
Increased
7
Reduced
12
Closed
4

Top Buys

Rank Stock Value
1
SGM
Stonegate Mortgage Corporation
SGM
+$8.21M
2
CPSS icon
Consumer Portfolio Services
CPSS
+$4.02M
3
NWHM
THE NEW HOME COMPANY INC.
NWHM
+$3.7M
4
RM icon
Regional Management Corp
RM
+$3.14M
5
CASH icon
Pathward Financial
CASH
+$2.07M

Top Sells

Rank Stock Value
1
C icon
Citigroup
C
+$15M
2
NEWS
NewStar Financial, Inc.
NEWS
+$12.7M
3
WLH
WILLIAM LYON HOMES
WLH
+$11.6M
4
OMF icon
OneMain Financial
OMF
+$8.05M
5
ONIT
Onity Group
ONIT
+$7.25M

Sector Composition

Rank Sector Weight
1 Financials 68.97%
2 Miscellaneous 15.17%
3 Consumer Discretionary 12.6%
4 Industrials 1.79%
5 Real Estate 1.46%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
C icon
26
Citigroup
C
$231B
$236K 0.07%
5,000
-316,268
-98% -$15M
MTH icon
27
Meritage Homes
MTH
$4.39B
– –
-60,000
Closed -$1.26M
OMF icon
28
OneMain Financial
OMF
$7.44B
– –
-320,000
Closed -$8.05M
JPM.WS
29
DELISTED
JPMorgan Chase
JPM.WS
– –
-175,000
Closed -$3.54M
SIVB
30
DELISTED
SVB Financial Group
SIVB
– –
-35,000
Closed -$4.51M
1
2

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Second Curve Capital's Q2 2014 Portfolio in Review

As of Q2 2014, Second Curve Capital held 30 positions worth $333M, down 22% from $430M the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Second Curve Capital withdrew a net $57M in Q2 2014, closing 4 positions and reducing 12 holdings. Its most notable exit was OneMain Financial, an estimated $8.05M position sold in full.

By sector, the portfolio is most concentrated in Financials at 69% of assets, down from 69% a quarter earlier, followed by Miscellaneous and Consumer Discretionary.

Against the trend, Second Curve Capital opened a new position in Stonegate Mortgage Corporation worth $8.23M.

  • Second Curve Capital's largest Q2 2014 buy was Stonegate Mortgage Corporation: 590,000 shares worth $8.23M.
  • Second Curve Capital added most to Consumer Portfolio Services in Q2 2014, an estimated $4.02M increase.
  • Second Curve Capital's biggest Q2 2014 reduction was Citigroup, cutting an estimated $15M.
  • Second Curve Capital fully exited OneMain Financial in Q2 2014, selling an estimated $8.05M.
  • Second Curve Capital's ten largest holdings make up 77% of its $333M portfolio in Q2 2014.
  • Second Curve Capital opened 5 new positions and closed 4 in Q2 2014.
  • Second Curve Capital's portfolio value fell 22% quarter-over-quarter to $333M.

Based on Second Curve Capital's 13F filing for Q2 2014, filed 13 Aug 2014.