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Phase 2 Partners, LLC

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13F filer, CIK 1841126, San Francisco, CA

Phase 2 Partners, LLC reported $226,422,947 across 20 holdings for the quarter ended 2023-09-30, in a 13F-HR filed 2023-11-14. Its ten largest share positions make up 60.87% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001214659-23-015165

Period
2023-09-30
Reported value
$226M
Holdings
20
Top 10 weight
60.87%
New
6
Sold out
9

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ENVESTNET INCadded+295,788$13M
INVHnew+398,046$12.6M
BILLadded+108,930$11.8M
FCFSnew+109,262$11M
SEICnew+163,528$9.85M

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
PCORexited-199,557-$13M
SSNCexited-202,062-$12.2M
SPGIexited-30,388-$12.2M
WALexited-297,282-$10.8M
BLACK KNIGHT INC COMexited-174,365-$10.4M

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, Q3 2023

Share positions as resolved from 13F-HR 0001214659-23-015165, largest first. % of portfolio is the value over $226,422,947, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ENVESTNET INCENVESTNET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: 245,487 shares; 2023Q3: 541,275 shares 541,275$23.8M10.53%+295,788
KMPRKEMPER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: restricted; 2023Q1: 194,990 shares; 2023Q2: 142,595 shares; 2023Q3: 344,758 shares 344,758$14.5M6.4%+202,163Timeline
BILLBILL HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: 23,831 shares; 2023Q3: 132,761 shares 132,761$14.4M6.37%+108,930Timeline
QTWOQ2 HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: restricted; 2023Q1: 468,442 shares; 2023Q2: 449,569 shares; 2023Q3: 410,145 shares 410,145$13.2M5.85%-39,424Timeline
BXPBXP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: 180,156 shares; 2023Q3: 216,291 shares 216,291$12.9M5.68%+36,135Timeline
INVHINVITATION HOMES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: 398,046 shares 398,046$12.6M5.57%newTimeline
DEIDOUGLAS EMMETT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: 681,430 shares; 2023Q3: 949,525 shares 949,525$12.1M5.35%+268,095Timeline
MTGMGIC INVT CORP WISQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: 669,019 shares; 2023Q3: 725,508 shares 725,508$12.1M5.35%+56,489Timeline
RDNRADIAN GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: restricted; 2023Q1: 448,596 shares; 2023Q2: 248,081 shares; 2023Q3: 445,030 shares 445,030$11.2M4.94%+196,949Timeline
FCFSFIRSTCASH HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: 109,262 shares 109,262$11M4.84%newTimeline
FLYWFLYWIRE CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: restricted; 2023Q1: 143,893 shares; 2023Q2: 560,732 shares; 2023Q3: 343,776 shares 343,776$11M4.84%-216,956Timeline
ABALLIANCEBERNSTEIN HLDG L PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: restricted; 2023Q1: 196,063 shares; 2023Q2: 342,957 shares; 2023Q3: 354,687 shares 354,687$10.8M4.75%+11,730Timeline
SEICSEI INVTS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: 163,528 shares 163,528$9.85M4.35%newTimeline
BLACKROCK INCBLACKROCK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: restricted; 2023Q1: 17,075 shares; 2023Q2: 13,450 shares; 2023Q3: 14,740 shares 14,740$9.53M4.21%+1,290
TRUTRANSUNIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: restricted; 2023Q1: 140,169 shares; 2023Q2: 99,147 shares; 2023Q3: 132,176 shares 132,176$9.49M4.19%+33,029Timeline
LPLALPL FINL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: restricted; 2023Q1: 40,341 shares; 2023Q2: 63,493 shares; 2023Q3: 37,142 shares 37,142$8.83M3.9%-26,351Timeline
VVISA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: 37,830 shares 37,830$8.7M3.84%newTimeline
PARPAR TECHNOLOGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: 200,054 shares 200,054$7.71M3.41%newTimeline
TWTRADEWEB MKTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: restricted; 2023Q1: 55,167 shares; 2023Q2: not reported; 2023Q3: 80,242 shares 80,242$6.44M2.84%newTimeline
WTWISDOMTREE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2021Q4: restricted; 2022Q1: restricted; 2022Q2: restricted; 2022Q3: restricted; 2022Q4: restricted; 2023Q1: 447,684 shares; 2023Q2: 1,311,449 shares; 2023Q3: 905,176 shares 905,176$6.34M2.8%-406,273Timeline

Sold out in Q3 2023

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

SecurityShares beforeValue beforeType
PCORPROCORE TECHNOLOGIES INC199,557$13Mshares
SSNCSS&C TECH HLDGS202,062$12.2Mshares
SPGIS&P GLOBAL INC30,388$12.2Mshares
WALWESTERN ALLIANCE BANCORP297,282$10.8Mshares
BLACK KNIGHT INC COMBLACK KNIGHT INC COM174,365$10.4Mshares
LAZARD LTD-CLASS ALAZARD LTD-CLASS A308,813$9.88Mshares
SLMSLM CORP528,356$8.62Mshares
ALTGALTA EQUIPMENT GROUP INC42,417$735Kshares
CMECME GROUP INC1,765$327Kshares

How Q3 2023 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 0001214659-23-015165 base2023-11-14acceptance time not in the bulk data set