CIK: 0001841126
Total reported value
$133.2M
Reporting period: 2024-12-31 · Number of holdings: 26
Phase 2 Partners, LLC disclosed 26 holdings in its latest 13F filing for the period ending 2024-12-31, with total reported value of $133.2M and a quarterly turnover rate of 0.0%.
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Phase 2 Partners, LLC's disclosed holdings carry a Herfindahl concentration index of 0.052 — mathematically equivalent to about 19 equally-sized positions, close to its 26 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.61), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 22% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
No holding changes this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | ECPG | Encore Capital Group INC | Stock-Other | 12.05% | — | +39.21% | |
| 2 | MCY | Mercury General CORP | Stock-Other | 7.13% | — | -47.84% | |
| 3 | KMPR | Kemper CORP | Stock-Other | 6.01% | — | -38.98% | |
| 4 | WLFC | Willis Lease Finance CORP | Stock-Other | 5.83% | — | -28.56% | |
| 5 | HCI | Hci Group INC | Stock-Other | 5.36% | — | +44.24% | |
| 6 | ✓ | Despegar.com CORP | Stock-Other | 5.20% | — | — | |
| 7 | DFIN | Donnelley Financial Solution | Stock-Other | 4.83% | — | — | |
| 8 | WT | Wisdomtree INC | Stock-Other | 4.66% | — | -6.54% | |
| 9 | CCS | Century Communities INC | Stock-Other | 4.59% | — | — | |
| 10 | RPC | Ridgepost Capital Inc-a | Stock-Other | 4.33% | — | -35.07% | |
| 11 | MTH | Meritage Homes CORP | Stock-Consumer Disc | 4.09% | — | +6.42% | |
| 12 | MCHB | Mechanics Bancorp-a | Stock-Other | 3.71% | — | — | |
| 13 | SKWD | Skyward Specialty Insurance | Stock-Other | 3.62% | — | -31.52% | |
| 14 | WAL | Western Alliance Bancorp | Stock-Financials | 3.46% | — | +4.58% | |
| 15 | FHI | Federated Hermes INC | Stock-Financials | 3.39% | — | — | |
| 16 | DFSEUR | Discover Financial Services | Stock-Other | 2.90% | — | -51.42% | |
| 17 | BOW | Bowhead Specialty Holdings I | Stock-Other | 2.46% | — | -32.48% | |
| 18 | CG | Carlyle Group Inc/the | Stock-Financials | 2.42% | — | -62.84% | |
| 19 | SEIC | Sei Investments Company | Stock-Financials | 2.38% | — | — | |
| 20 | BLK | Blackrock INC | Stock-Financials | 2.31% | — | — | |
| 21 | AB | Alliancebernstein Holding LP | Stock-Other | 2.11% | — | +24.36% | |
| 22 | HHH | Howard Hughes Holdings INC | Stock-Real Estate | 2.08% | — | -38.05% | |
| 23 | HOV | Hovnanian Enterprises-a | Stock-Other | 1.80% | — | — | |
| 24 | RKT | Rocket Cos Inc-class A | Stock-Financials | 1.79% | — | — | |
| 25 | MQ | Marqeta Inc-a | Stock-Other | 1.24% | — | — | |
| 26 | GCMGW | Gcm Grosvenor INC A -cw25 | Stock-Other | 0.25% | — | -3.68% |
Performance for Q3 2026
+8.1%
Performance Last 4 Quarters
+30.8%
Based on 60% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2024-12-31 | 26 | $133.2M | 0 | |
| 2024-09-30 | 27 | $169.3M | 0 | |
| 2024-06-30 | 27 | $166.3M | 0 | |
| 2024-03-31 | 27 | $191.3M | 0 | |
| 2023-12-31 | 21 | $189.3M | 0 | |
| 2023-09-30 | 20 | $226.4M | 0 | |
| 2023-06-30 | 23 | $220.4M | 0 | |
| 2023-03-31 | 26 | $231.9M | 0 | |
| 2022-12-31 | 19 | $221.5M | 0 | |
| 2022-09-30 | 26 | $210.5M | 0 | |
| 2022-06-30 | 24 | $194.5M | 0 | |
| 2022-03-31 | 21 | $153.2M | 0 | |
| 2021-12-31 | 20 | $161.5M | 0 |
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
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