Phase 2 Partners, LLC

San Francisco, CA · CIK 1841126 · 13F filing filed 2025-02-14

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

Legal entityPHASE 2 PARTNERS LLC (US)

Others nearbySan Francisco, CA

$133.2m reported value -21.3% vs Q3 2024

26positions

60.0%in top 10

11 new 5 added 10 reduced 12 sold out vs Q3 2024

Holdings, Q4 2024

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	ENCORE CAP GROUP INC COM ECPG	ECPG	336,193	$16.1m12.05%	12.05%	Added +94.7k	+94,684 39.2%
2	MERCURY GENL CORP NEW COM MCY	MCY	142,899	$9.5m7.13%	7.13%	Reduced -131.1k	-131,056 -47.8%
3	KEMPER CORP COM KMPR	KMPR	120,441	$8.0m6.01%	6.01%	Reduced -77.0k	-76,953 -39.0%
4	WILLIS LEASE FIN CORP COM WLFC	WLFC	37,455	$7.8m5.83%	5.83%	Reduced -15.0k	-14,973 -28.6%
5	HCI GROUP INC COM HCI	HCI	61,265	$7.1m5.36%	5.36%	Added +18.8k	+18,791 44.2%
6	DESPEGAR COM CORP ORD SHS DESP	DESP	359,765	$6.9m5.20%	5.20%	New
7	DONNELLEY FINL SOLUTIONS INC COM DFIN	DFIN	102,586	$6.4m4.83%	4.83%	New
8	WISDOMTREE INC COM WT	WT	591,129	$6.2m4.66%	4.66%	Reduced -41.4k	-41,384 -6.5%
9	CENTURY CMNTYS INC COM CCS	CCS	83,282	$6.1m4.59%	4.59%	New
10	P10 INC COM CL A RPC	RPC	457,585	$5.8m4.33%	4.33%	Reduced -247.1k	-247,143 -35.1%
11	MERITAGE HOMES CORP COM MTH	MTH	35,436	$5.5m4.09%	4.09%	Added +2.1k	+2,137 6.4%
12	HOMESTREET INC COM MCHB	MCHB	432,514	$4.9m3.71%	3.71%	New
13	SKYWARD SPECIALTY INS GROUP COM SKWD	SKWD	95,500	$4.8m3.62%	3.62%	Reduced -43.9k	-43,947 -31.5%
14	WESTERN ALLIANCE BANCORP COM WAL	WAL	55,258	$4.6m3.46%	3.46%	Added +2.4k	+2,421 4.6%
15	FEDERATED HERMES INC CL B FHI	FHI	109,981	$4.5m3.39%	3.39%	New
16	DISCOVER FINL SVCS COM DFS	DFS	22,285	$3.9m2.90%	2.90%	Reduced -23.6k	-23,590 -51.4%
17	BOWHEAD SPECIALTY HLDGS INC COM SHS BOW	BOW	92,294	$3.3m2.46%	2.46%	Reduced -44.4k	-44,403 -32.5%
18	CARLYLE GROUP INC COM CG	CG	63,887	$3.2m2.42%	2.42%	Reduced -108.0k	-108,023 -62.8%
19	SEI INVTS CO COM SEIC	SEIC	38,418	$3.2m2.38%	2.38%	New
20	BLACKROCK INC COM BLK	BLK	2,996	$3.1m2.31%	2.31%	New
21	ALLIANCEBERNSTEIN HLDG L P UNIT LTD PARTN AB	AB	75,743	$2.8m2.11%	2.11%	Added +14.8k	+14,838 24.4%
22	HOWARD HUGHES HOLDINGS INC COM HHH	HHH	36,069	$2.8m2.08%	2.08%	Reduced -22.2k	-22,152 -38.0%
23	HOVNANIAN ENTERPRISES INC CL A NEW HOV	HOV	17,897	$2.4m1.80%	1.80%	New
24	ROCKET COS INC COM CL A RKT	RKT	211,880	$2.4m1.79%	1.79%	New
25	MARQETA INC CLASS A COM CLASS A COM		436,793	$1.7m1.24%	1.24%	New
26	GCM GROSVENOR INC *W EXP 11/17/202 GCMGW	GCMGW	261,072	$329.0k0.25%	0.25%	New

Sold out since Q3 2024

Security	Ticker	Shares held before	Value then
KILROY RLTY CORP KRC	KRC	250,949	$9.7m250.9k shares
PATRIA INVESTMENTS LIMITED PAX	PAX	541,602	$6.0m541.6k shares
BLACKROCK INC BLK	BLK	5,992	$5.7m6.0k shares
CME GROUP INC CME	CME	25,756	$5.7m25.8k shares
FUTU HLDGS LTD FUTU	FUTU	59,355	$5.7m59.4k shares
VIRTU FINL INC VIRT	VIRT	185,979	$5.7m186.0k shares
ZILLOW GROUP INC Z	Z	88,000	$5.6m88.0k shares
GCM GROSVENOR INC GCMG	GCMG	427,394	$4.8m427.4k shares
AERCAP HOLDINGS NV AER	AER	47,270	$4.5m47.3k shares
LINEAGE INC LINE	LINE	50,000	$3.9m50.0k shares
INTERCONTINENTAL EXCHANGE IN ICE	ICE	21,219	$3.4m21.2k shares
GCM GROSVENOR INC GCMGW	GCMGW	271,048	$238.5k271.0k shares