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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
-9.63%
1 Year Est. Return
+66.93%
3 Year Est. Return
+159.53%
5 Year Est. Return
+126.53%
10 Year Est. Return
–
AUM
$272M
AUM Growth
-$61.2M
Cap. Flow
-$22.4M
Cap. Flow %
-8.22%
Top 10 Hldgs %
76.24%
Holding
28
New
2
Increased
10
Reduced
9
Closed
3

Top Buys

1
NWHM
THE NEW HOME COMPANY INC.
NWHM
+$5.75M
2
CPSS icon
Consumer Portfolio Services
CPSS
+$3.75M
3
SGM
Stonegate Mortgage Corporation
SGM
+$3.17M
4
TBBK icon
The Bancorp
TBBK
+$2.81M
5
SFBS
ServisFirst Bancshares
SFBS
+$1.81M

Top Sells

1
BAC.WS.A
Bank Of America Corporation Ws A
BAC.WS.A
+$17.7M
2
SBCF icon
Seacoast Banking Corp of Florida
SBCF
+$12.3M
3
OFG icon
OFG Bancorp
OFG
+$3.92M
4
WLH
WILLIAM LYON HOMES
WLH
+$3.73M
5
FSGI
FIRST SECURITY GROUP, INC.
FSGI
+$3.22M

Sector Composition

1 Financials 72.26%
2 Consumer Discretionary 13.17%
3 Real Estate 1.6%
4 Industrials 1.19%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CACC icon
26
Credit Acceptance
CACC
$6.67B
– –
-5,000
Closed -$616K
JPM icon
27
JPMorgan Chase
JPM
$912B
– –
-5,000
Closed -$288K
SBCF icon
28
Seacoast Banking Corp of Florida
SBCF
$3.34B
– –
-1,132,087
Closed -$12.3M
1
2

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Second Curve Capital's Q3 2014 Portfolio in Review

As of Q3 2014, Second Curve Capital held 28 positions worth $272M, down 18% from $333M the previous quarter. Its ten largest holdings account for 76% of the portfolio.

Second Curve Capital withdrew a net $22.4M in Q3 2014, closing 3 positions and reducing 9 holdings. Its most notable exit was Seacoast Banking Corp of Florida, an estimated $12.3M position sold in full.

By sector, the portfolio is most concentrated in Financials at 72% of assets, up from 69% a quarter earlier, followed by Consumer Discretionary and Real Estate.

Against the trend, Second Curve Capital opened a new position in Hilltop Holdings worth $602K.

  • Second Curve Capital's largest Q3 2014 buy was Hilltop Holdings: 30,000 shares worth $602K.
  • Second Curve Capital added most to THE NEW HOME COMPANY INC. in Q3 2014, an estimated $5.75M increase.
  • Second Curve Capital's biggest Q3 2014 reduction was Bank Of America Corporation Ws A, cutting an estimated $17.7M.
  • Second Curve Capital fully exited Seacoast Banking Corp of Florida in Q3 2014, selling an estimated $12.3M.
  • Second Curve Capital's ten largest holdings make up 76% of its $272M portfolio in Q3 2014.
  • Second Curve Capital opened 2 new positions and closed 3 in Q3 2014.
  • Second Curve Capital's portfolio value fell 18% quarter-over-quarter to $272M.

Based on Second Curve Capital's 13F filing for Q3 2014, filed 13 Nov 2014.