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Phase 2 Partners, LLC

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13F filer, CIK 1841126, San Francisco, CA

Phase 2 Partners, LLC reported $133,229,637 across 26 holdings for the quarter ended 2024-12-31, in a 13F-HR filed 2025-02-14. Its ten largest share positions make up 59.99% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001214659-25-002843

Period
2024-12-31
Reported value
$133M
Holdings
26
Top 10 weight
59.99%
New
11
Sold out
12

Largest buys vs the previous quarter

SecurityShares changeApprox. value
DESPEGAR COM CORPnew+359,765$6.93M
DFINnew+102,586$6.44M
CCSnew+83,282$6.11M
MCHBnew+432,514$4.94M
ECPGadded+94,684$4.52M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
KRCexited-250,949-$9.71M
MCYreduced-131,056-$8.71M
PAXexited-541,602-$6.05M
BLACKROCK INCexited-5,992-$5.69M
CMEexited-25,756-$5.68M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2024

Share positions as resolved from 13F-HR 0001214659-25-002843, largest first. % of portfolio is the value over $133,229,637, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ECPGENCORE CAP GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: 75,495 shares; 2024Q3: 241,509 shares; 2024Q4: 336,193 shares 336,193$16.1M12.05%+94,684Timeline
MCYMERCURY GENL CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: 49,604 shares; 2024Q2: 113,147 shares; 2024Q3: 273,955 shares; 2024Q4: 142,899 shares 142,899$9.5M7.13%-131,056Timeline
KMPRKEMPER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: 194,990 shares; 2023Q2: 142,595 shares; 2023Q3: 344,758 shares; 2023Q4: 387,675 shares; 2024Q1: 176,547 shares; 2024Q2: 168,881 shares; 2024Q3: 197,394 shares; 2024Q4: 120,441 shares 120,441$8M6.01%-76,953Timeline
WLFCWILLIS LEASE FIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: 70,393 shares; 2024Q3: 52,428 shares; 2024Q4: 37,455 shares 37,455$7.77M5.83%-14,973Timeline
HCIHCI GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: 42,474 shares; 2024Q4: 61,265 shares 61,265$7.14M5.36%+18,791Timeline
DESPEGAR COM CORPDESPEGAR COM CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: 359,765 shares 359,765$6.93M5.2%new
DFINDONNELLEY FINL SOLUTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: 102,586 shares 102,586$6.44M4.83%newTimeline
WTWISDOMTREE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: 447,684 shares; 2023Q2: 1,311,449 shares; 2023Q3: 905,176 shares; 2023Q4: 1,085,748 shares; 2024Q1: 1,219,276 shares; 2024Q2: 665,395 shares; 2024Q3: 632,513 shares; 2024Q4: 591,129 shares 591,129$6.21M4.66%-41,384Timeline
CCSCENTURY COMMUNITIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: 83,282 shares 83,282$6.11M4.59%newTimeline
RPCRIDGEPOST CAP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: 577,579 shares; 2024Q2: 649,232 shares; 2024Q3: 704,728 shares; 2024Q4: 457,585 shares 457,585$5.77M4.33%-247,143Timeline
MTHMERITAGE HOMES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: 33,299 shares; 2024Q4: 35,436 shares 35,436$5.45M4.09%+2,137Timeline
MCHBMECHANICS BANCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: 432,514 shares 432,514$4.94M3.71%newTimeline
SKWDSKYWARD SPECIALTY INS GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: 139,447 shares; 2024Q4: 95,500 shares 95,500$4.83M3.62%-43,947Timeline
WALWESTERN ALLIANCE BANCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: 471,595 shares; 2023Q2: 297,282 shares; 2023Q3: not reported; 2023Q4: 120,914 shares; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: 52,837 shares; 2024Q4: 55,258 shares 55,258$4.62M3.46%+2,421Timeline
FHIFEDERATED HERMES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: 224,165 shares; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: 109,981 shares 109,981$4.52M3.39%newTimeline
DISCOVER FINL SVCSDISCOVER FINL SVCSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: 45,553 shares; 2024Q2: 66,660 shares; 2024Q3: 45,875 shares; 2024Q4: 22,285 shares 22,285$3.86M2.9%-23,590
BOWBOWHEAD SPECIALTY HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: 125,049 shares; 2024Q3: 136,697 shares; 2024Q4: 92,294 shares 92,294$3.28M2.46%-44,403Timeline
CGCARLYLE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: 107,830 shares; 2024Q2: not reported; 2024Q3: 171,910 shares; 2024Q4: 63,887 shares 63,887$3.23M2.42%-108,023Timeline
SEICSEI INVTS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: 163,528 shares; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: 38,418 shares 38,418$3.17M2.38%newTimeline
BLKBLACKROCK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: 2,996 shares 2,996$3.07M2.31%newTimeline
ABALLIANCEBERNSTEIN HLDG L PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: 196,063 shares; 2023Q2: 342,957 shares; 2023Q3: 354,687 shares; 2023Q4: 185,006 shares; 2024Q1: 136,376 shares; 2024Q2: not reported; 2024Q3: 60,905 shares; 2024Q4: 75,743 shares 75,743$2.81M2.11%+14,838Timeline
HHHHOWARD HUGHES HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: 145,444 shares; 2024Q3: 58,221 shares; 2024Q4: 36,069 shares 36,069$2.77M2.08%-22,152Timeline
HOVHOVNANIAN ENTERPRISES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: 17,897 shares 17,897$2.39M1.8%newTimeline
RKTROCKET COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: 211,880 shares 211,880$2.39M1.79%newTimeline
MQMARQETA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: not reported; 2024Q4: 436,793 shares 436,793$1.66M1.24%newTimeline
GCM GROSVENOR INCGCM GROSVENOR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: 271,048 shares; 2024Q3: not reported; 2024Q4: 261,072 shares 261,072$329K0.25%new

Sold out in Q4 2024

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
KRCKILROY REALTY CORP250,949$9.71Mshares
PAXPATRIA INVESTMENTS LIMITED541,602$6.05Mshares
BLACKROCK INCBLACKROCK INC5,992$5.69Mshares
CMECME GROUP INC25,756$5.68Mshares
FUTUFUTU HLDGS LTD59,355$5.68Mshares
VIRTVIRTU FINL INC185,979$5.66Mshares
ZZILLOW GROUP INC88,000$5.62Mshares
GCMGGCM GROSVENOR INC427,394$4.84Mshares
AERAERCAP HOLDINGS NV47,270$4.48Mshares
LINELINEAGE INC50,000$3.92Mshares
ICEINTERCONTINENTAL EXCHANGE IN21,219$3.41Mshares
GCM GROSVENOR INCGCM GROSVENOR INC271,048$239Kprincipal

How Q4 2024 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001214659-25-002843 base2025-02-14acceptance time not in the bulk data set

Filings

Every filing of this filer: 13F reports and notices, the 13D and 13G it filed or is a reporting person of, and Forms 3, 4 and 5 it reported as an owner.

FilingSubjectFiledAcceptedIngested
13F-HR 0001214659-25-002843 Quarter ended 2024-12-312025-02-14acceptance time not in the bulk data set
13F-HR 0001214659-24-019141 Quarter ended 2024-09-302024-11-14acceptance time not in the bulk data set
13F-HR 0001214659-24-014686 Quarter ended 2024-06-302024-08-14acceptance time not in the bulk data set
13F-HR 0001214659-24-009313 Quarter ended 2024-03-312024-05-15acceptance time not in the bulk data set
13F-HR 0001214659-24-002831 Quarter ended 2023-12-312024-02-14acceptance time not in the bulk data set
13F-HR 0001214659-23-015165 Quarter ended 2023-09-302023-11-14acceptance time not in the bulk data set
13F-HR 0001214659-23-011284 Quarter ended 2023-06-302023-08-14acceptance time not in the bulk data set
13F-HR 0001214659-23-007184 Quarter ended 2023-03-312023-05-15acceptance time not in the bulk data set
13F-HR 0001214659-23-002383 Quarter ended 2022-12-312023-02-14acceptance time not in the bulk data set
13F-HR 0001214659-22-013680 Quarter ended 2022-09-302022-11-14acceptance time not in the bulk data set
13F-HR 0001214659-22-010205 Quarter ended 2022-06-302022-08-15acceptance time not in the bulk data set
13F-HR 0001214659-22-007022 Quarter ended 2022-03-312022-05-16acceptance time not in the bulk data set
13F-HR 0001214659-22-002631 Quarter ended 2021-12-312022-02-14acceptance time not in the bulk data set