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Second Curve Capital Portfolio holdings

AUM $93.1M
1-Year Est. Return 66.93%
This Fund
S&P 500
This Quarter Est. Return
+1.73%
1 Year Est. Return
+66.93%
3 Year Est. Return
+159.53%
5 Year Est. Return
+126.53%
10 Year Est. Return
–
AUM
$249M
AUM Growth
-$29.8M
Cap. Flow
-$33.6M
Cap. Flow %
-13.47%
Top 10 Hldgs %
80.67%
Holding
28
New
2
Increased
4
Reduced
14
Closed
1

Top Buys

Rank Stock Value
1
CASH icon
Pathward Financial
CASH
+$8.94M
2
RM icon
Regional Management Corp
RM
+$5.94M
3
NWHM
THE NEW HOME COMPANY INC.
NWHM
+$1.28M
4
LOB icon
Live Oak Bancshares
LOB
+$818K
5
BANC icon
Banc of California
BANC
+$690K

Top Sells

Rank Stock Value
1
TRTN
Triton International Limited
TRTN
+$10.9M
2
BAC.WS.A
Bank Of America Corporation Ws A
BAC.WS.A
+$7.8M
3
COF icon
Capital One
COF
+$6.49M
4
OMF icon
OneMain Financial
OMF
+$5.39M
5
SCHW
Charles Schwab
SCHW
+$4.87M

Sector Composition

Rank Sector Weight
1 Financials 75.14%
2 Consumer Discretionary 15.06%
3 Industrials 0.64%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FFWM
26
DELISTED
First Foundation Inc
FFWM
$179K 0.07%
10,000
– –
AMG icon
27
Affiliated Managers Group
AMG
$9.4B
– –
-2,666
Closed -$442K
1
2

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Second Curve Capital's Q3 2017 Portfolio in Review

As of Q3 2017, Second Curve Capital held 28 positions worth $249M, down 11% from $279M the previous quarter. Its ten largest holdings account for 81% of the portfolio.

Second Curve Capital withdrew a net $33.6M in Q3 2017, closing 1 position and reducing 14 holdings. Its most notable exit was Affiliated Managers Group, an estimated $442K position sold in full.

By sector, the portfolio is most concentrated in Financials at 75% of assets, up from 71% a quarter earlier, followed by Consumer Discretionary and Industrials.

Against the trend, Second Curve Capital opened a new position in Banc of California worth $726K.

  • Second Curve Capital's largest Q3 2017 buy was Banc of California: 35,000 shares worth $726K.
  • Second Curve Capital added most to Pathward Financial in Q3 2017, an estimated $8.94M increase.
  • Second Curve Capital's biggest Q3 2017 reduction was Triton International Limited, cutting an estimated $10.9M.
  • Second Curve Capital fully exited Affiliated Managers Group in Q3 2017, selling an estimated $442K.
  • Second Curve Capital's ten largest holdings make up 81% of its $249M portfolio in Q3 2017.
  • Second Curve Capital opened 2 new positions and closed 1 in Q3 2017.
  • Second Curve Capital's portfolio value fell 11% quarter-over-quarter to $249M.

Based on Second Curve Capital's 13F filing for Q3 2017, filed 14 Nov 2017.