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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
+6.07%
1 Year Est. Return
+66.93%
3 Year Est. Return
+159.53%
5 Year Est. Return
+126.53%
10 Year Est. Return
–
AUM
$163M
AUM Growth
+$17.8M
Cap. Flow
+$9.19M
Cap. Flow %
5.62%
Top 10 Hldgs %
74.23%
Holding
23
New
2
Increased
10
Reduced
8
Closed
1

Top Buys

Rank Stock Value
1
ALLY icon
Ally Financial
ALLY
+$7.13M
2
BAC icon
Bank of America
BAC
+$3.16M
3
SCHW
Charles Schwab
SCHW
+$2.83M
4
COF icon
Capital One
COF
+$2.65M
5
OCFC icon
OceanFirst Financial
OCFC
+$1.74M

Top Sells

Rank Stock Value
1
CASH icon
Pathward Financial
CASH
+$4.07M
2
FBC
Flagstar Bancorp, Inc. New
FBC
+$2.28M
3
BANC icon
Banc of California
BANC
+$2.09M
4
TBBK icon
The Bancorp
TBBK
+$1.95M
5
WLH
WILLIAM LYON HOMES
WLH
+$1.4M

Sector Composition

Rank Sector Weight
1 Financials 92.91%
2 Consumer Discretionary 7.09%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CURO
1
DELISTED
CURO Group Holdings Corp.
CURO
$17.9M 10.93%
1,345,806
-34,435
-2% -$440K
ECPG icon
2
Encore Capital Group
ECPG
$2.06B
$16.6M 10.13%
496,712
+40,000
+9% +$1.4M
CASH icon
3
Pathward Financial
CASH
$1.73B
$14.9M 9.11%
456,809
-135,000
-23% -$4.07M
TBBK icon
4
The Bancorp
TBBK
$2.73B
$14.4M 8.79%
1,450,661
-205,000
-12% -$1.95M
TSC
5
DELISTED
TriState Capital Holdings, Inc.
TSC
$13M 7.96%
618,753
-18,500
-3% -$379K
ALLY icon
6
Ally Financial
ALLY
$13.3B
$11.5M 7.05%
347,500
+220,000
+173% +$7.13M
OMF icon
7
OneMain Financial
OMF
$7.44B
$9.74M 5.96%
265,643
+20,000
+8% +$742K
COF icon
8
Capital One
COF
$135B
$8.4M 5.14%
92,369
+29,500
+47% +$2.65M
NWHM
9
DELISTED
THE NEW HOME COMPANY INC.
NWHM
$8.08M 4.94%
1,853,654
+2,845
+0.2% +$11.7K
BANC icon
10
Banc of California
BANC
$3B
$6.89M 4.22%
487,341
-145,000
-23% -$2.09M
C icon
11
Citigroup
C
$231B
$5.87M 3.59%
85,000
+22,000
+35% +$1.5M
STL
12
DELISTED
Sterling Bancorp
STL
$5.44M 3.33%
271,200
– –
SCHW
13
Charles Schwab
SCHW
$189B
$5.28M 3.23%
126,100
+70,000
+125% +$2.83M
FBC
14
DELISTED
Flagstar Bancorp, Inc. New
FBC
$5.13M 3.14%
137,335
-65,000
-32% -$2.28M
EGBN icon
15
Eagle Bancorp
EGBN
$859M
$4.02M 2.46%
90,000
– –
PACW
16
DELISTED
PacWest Bancorp
PACW
$4M 2.45%
110,000
+10,000
+10% +$361K
BAC icon
17
Bank of America
BAC
$438B
$3.85M 2.36%
132,000
+110,000
+500% +$3.16M
WLH
18
DELISTED
WILLIAM LYON HOMES
WLH
$3.51M 2.15%
172,604
-75,000
-30% -$1.4M
MVBF icon
19
MVB Financial
MVBF
$405M
$2.12M 1.3%
106,645
+96,645
+966% +$1.74M
OCFC icon
20
OceanFirst Financial
OCFC
$1.88B
$1.77M 1.08%
+75,000
New +$1.74M
TREE icon
21
LendingTree
TREE
$398M
$931K 0.57%
+3,000
New +$1.02M
OFG icon
22
OFG Bancorp
OFG
$2.25B
$219K 0.13%
10,000
-50,000
-83% -$1.1M
SBNY
23
DELISTED
Signature Bank
SBNY
– –
-11,500
Closed -$1.39M

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Second Curve Capital's Q3 2019 Portfolio in Review

As of Q3 2019, Second Curve Capital held 23 positions worth $163M, up 12% from $146M the previous quarter. Its ten largest holdings account for 74% of the portfolio.

Second Curve Capital deployed $9.19M of net new capital in Q3 2019, opening 2 new positions and adding to 10 existing holdings. Its largest new stake was OceanFirst Financial: 75,000 shares worth $1.77M.

By sector, the portfolio is most concentrated in Financials at 93% of assets, up from 92% a quarter earlier, followed by Consumer Discretionary.

On the sell side, the largest reduction was Pathward Financial, an estimated $4.07M trimmed.

  • Second Curve Capital's largest Q3 2019 buy was OceanFirst Financial: 75,000 shares worth $1.77M.
  • Second Curve Capital added most to Ally Financial in Q3 2019, an estimated $7.13M increase.
  • Second Curve Capital's biggest Q3 2019 reduction was Pathward Financial, cutting an estimated $4.07M.
  • Second Curve Capital fully exited Signature Bank in Q3 2019, selling an estimated $1.39M.
  • Second Curve Capital's ten largest holdings make up 74% of its $163M portfolio in Q3 2019.
  • Second Curve Capital opened 2 new positions and closed 1 in Q3 2019.
  • Second Curve Capital's portfolio value rose 12% quarter-over-quarter to $163M.

Based on Second Curve Capital's 13F filing for Q3 2019, filed 14 Nov 2019.