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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
+11.55%
1 Year Est. Return
+66.93%
3 Year Est. Return
+159.53%
5 Year Est. Return
+126.53%
10 Year Est. Return
–
AUM
$189M
AUM Growth
+$25M
Cap. Flow
+$8.31M
Cap. Flow %
4.41%
Top 10 Hldgs %
85.04%
Holding
23
New
1
Increased
9
Reduced
7
Closed
6

Top Buys

Rank Stock Value
1
MVBF icon
MVB Financial
MVBF
+$11.1M
2
ALLY icon
Ally Financial
ALLY
+$7.59M
3
EGBN icon
Eagle Bancorp
EGBN
+$7.01M
4
CURO
CURO Group Holdings Corp.
CURO
+$5.56M
5
OMF icon
OneMain Financial
OMF
+$3.03M

Top Sells

Rank Stock Value
1
C icon
Citigroup
C
+$5.87M
2
FBC
Flagstar Bancorp, Inc. New
FBC
+$5.13M
3
BAC icon
Bank of America
BAC
+$3.85M
4
PACW
PacWest Bancorp
PACW
+$3.76M
5
WLH
WILLIAM LYON HOMES
WLH
+$3.51M

Sector Composition

Rank Sector Weight
1 Financials 95.15%
2 Consumer Discretionary 4.85%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CURO
1
DELISTED
CURO Group Holdings Corp.
CURO
$21.5M 11.38%
1,761,493
+415,687
+31% +$5.56M
TBBK icon
2
The Bancorp
TBBK
$2.73B
$20.2M 10.71%
1,556,761
+106,100
+7% +$1.19M
ALLY icon
3
Ally Financial
ALLY
$13.3B
$18M 9.57%
590,500
+243,000
+70% +$7.59M
CASH icon
4
Pathward Financial
CASH
$1.73B
$17.1M 9.08%
468,772
+11,963
+3% +$407K
ECPG icon
5
Encore Capital Group
ECPG
$2.06B
$16.7M 8.85%
471,712
-25,000
-5% -$874K
MVBF icon
6
MVB Financial
MVBF
$405M
$15.7M 8.35%
631,645
+525,000
+492% +$11.1M
TSC
7
DELISTED
TriState Capital Holdings, Inc.
TSC
$15.3M 8.13%
586,403
-32,350
-5% -$770K
OMF icon
8
OneMain Financial
OMF
$7.44B
$14.4M 7.62%
340,643
+75,000
+28% +$3.03M
EGBN icon
9
Eagle Bancorp
EGBN
$859M
$11.9M 6.32%
245,000
+155,000
+172% +$7.01M
BANC icon
10
Banc of California
BANC
$3B
$9.49M 5.03%
552,341
+65,000
+13% +$982K
NWHM
11
DELISTED
THE NEW HOME COMPANY INC.
NWHM
$9.14M 4.85%
1,962,429
+108,775
+6% +$496K
COF icon
12
Capital One
COF
$135B
$8.99M 4.77%
87,369
-5,000
-5% -$482K
STL
13
DELISTED
Sterling Bancorp
STL
$5.51M 2.92%
261,200
-10,000
-4% -$204K
SCHW
14
Charles Schwab
SCHW
$189B
$3.62M 1.92%
76,100
-50,000
-40% -$2.2M
PACW
15
DELISTED
PacWest Bancorp
PACW
$383K 0.2%
10,000
-100,000
-91% -$3.76M
OZK icon
16
Bank OZK
OZK
$5.5B
$305K 0.16%
+10,000
New +$293K
OCFC icon
17
OceanFirst Financial
OCFC
$1.88B
$255K 0.14%
10,000
-65,000
-87% -$1.56M
BAC icon
18
Bank of America
BAC
$438B
– –
-132,000
Closed -$3.85M
C icon
19
Citigroup
C
$231B
– –
-85,000
Closed -$5.87M
OFG icon
20
OFG Bancorp
OFG
$2.25B
– –
-10,000
Closed -$219K
TREE icon
21
LendingTree
TREE
$398M
– –
-3,000
Closed -$931K
FBC
22
DELISTED
Flagstar Bancorp, Inc. New
FBC
– –
-137,335
Closed -$5.13M
WLH
23
DELISTED
WILLIAM LYON HOMES
WLH
– –
-172,604
Closed -$3.51M

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Second Curve Capital's Q4 2019 Portfolio in Review

As of Q4 2019, Second Curve Capital held 23 positions worth $189M, up 15% from $163M the previous quarter. Its ten largest holdings account for 85% of the portfolio.

Second Curve Capital deployed $8.31M of net new capital in Q4 2019, opening 1 new position and adding to 9 existing holdings. Its largest new stake was Bank OZK: 10,000 shares worth $305K.

By sector, the portfolio is most concentrated in Financials at 95% of assets, up from 93% a quarter earlier, followed by Consumer Discretionary.

On the sell side, the largest reduction was PacWest Bancorp, an estimated $3.76M trimmed.

  • Second Curve Capital's largest Q4 2019 buy was Bank OZK: 10,000 shares worth $305K.
  • Second Curve Capital added most to MVB Financial in Q4 2019, an estimated $11.1M increase.
  • Second Curve Capital's biggest Q4 2019 reduction was PacWest Bancorp, cutting an estimated $3.76M.
  • Second Curve Capital fully exited Citigroup in Q4 2019, selling an estimated $5.87M.
  • Second Curve Capital's ten largest holdings make up 85% of its $189M portfolio in Q4 2019.
  • Second Curve Capital opened 1 new position and closed 6 in Q4 2019.
  • Second Curve Capital's portfolio value rose 15% quarter-over-quarter to $189M.

Based on Second Curve Capital's 13F filing for Q4 2019, filed 13 Feb 2020.