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Phase 2 Partners, LLC

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13F filer, CIK 1841126, San Francisco, CA

Phase 2 Partners, LLC reported $169,330,677 across 27 holdings for the quarter ended 2024-09-30, in a 13F-HR filed 2024-11-14. Its ten largest share positions make up 54.81% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001214659-24-019141

Period
2024-09-30
Reported value
$169M
Holdings
27
Top 10 weight
54.81%
New
12
Sold out
12

Largest buys vs the previous quarter

SecurityShares changeApprox. value
MCYadded+160,808$10.1M
ECPGadded+166,014$7.85M
CGnew+171,910$7.4M
MTHnew+33,299$6.83M
BLACKROCK INCnew+5,992$5.69M

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
EZPWexited-911,453-$9.54M
BILLexited-169,317-$8.91M
FUTUreduced-79,921-$7.64M
DEIexited-565,736-$7.53M
RPAYexited-649,840-$6.86M

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 2024

Share positions as resolved from 13F-HR 0001214659-24-019141, largest first. % of portfolio is the value over $169,330,677, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
MCYMERCURY GENL CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: 49,604 shares; 2024Q2: 113,147 shares; 2024Q3: 273,955 shares 273,955$17.3M10.19%+160,808Timeline
KMPRKEMPER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 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 197,394$12.1M7.14%+28,513Timeline
ECPGENCORE CAP GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: 75,495 shares; 2024Q3: 241,509 shares 241,509$11.4M6.74%+166,014Timeline
KRCKILROY REALTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: 224,802 shares; 2024Q1: 355,789 shares; 2024Q2: 295,527 shares; 2024Q3: 250,949 shares 250,949$9.71M5.74%-44,578Timeline
WLFCWILLIS LEASE FIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: 70,393 shares; 2024Q3: 52,428 shares 52,428$7.8M4.61%-17,965Timeline
RPCRIDGEPOST CAP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: 577,579 shares; 2024Q2: 649,232 shares; 2024Q3: 704,728 shares 704,728$7.55M4.46%+55,496Timeline
CGCARLYLE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: 107,830 shares; 2024Q2: not reported; 2024Q3: 171,910 shares 171,910$7.4M4.37%newTimeline
MTHMERITAGE HOMES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: 33,299 shares 33,299$6.83M4.03%newTimeline
DISCOVER FINL SVCSDISCOVER FINL SVCSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: 45,553 shares; 2024Q2: 66,660 shares; 2024Q3: 45,875 shares 45,875$6.44M3.8%-20,785
WTWISDOMTREE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 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 632,513$6.32M3.73%-32,882Timeline
PAXPATRIA INVESTMENTS LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: 343,377 shares; 2024Q3: 541,602 shares 541,602$6.05M3.57%+198,225Timeline
BLACKROCK INCBLACKROCK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: 17,075 shares; 2023Q2: 13,450 shares; 2023Q3: 14,740 shares; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: 5,992 shares 5,992$5.69M3.36%new
CMECME GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: 104,160 shares; 2023Q2: 1,765 shares; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: 25,756 shares 25,756$5.68M3.36%newTimeline
SKWDSKYWARD SPECIALTY INS GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: 139,447 shares 139,447$5.68M3.35%newTimeline
FUTUFUTU HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: 188,387 shares; 2024Q2: 139,276 shares; 2024Q3: 59,355 shares 59,355$5.68M3.35%-79,921Timeline
VIRTVIRTU FINL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: 138,599 shares; 2024Q3: 185,979 shares 185,979$5.66M3.35%+47,380Timeline
ZZILLOW GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: 104,376 shares; 2024Q1: 194,060 shares; 2024Q2: 177,490 shares; 2024Q3: 88,000 shares 88,000$5.62M3.32%-89,490Timeline
GCMGGCM GROSVENOR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: 369,249 shares; 2024Q2: 778,633 shares; 2024Q3: 427,394 shares 427,394$4.84M2.86%-351,239Timeline
WALWESTERN ALLIANCE BANCORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 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 52,837$4.57M2.7%newTimeline
HCIHCI GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: 42,474 shares 42,474$4.55M2.69%newTimeline
HHHHOWARD HUGHES HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: 145,444 shares; 2024Q3: 58,221 shares 58,221$4.51M2.66%-87,223Timeline
AERAERCAP HOLDINGS NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: 47,270 shares 47,270$4.48M2.64%newTimeline
LINELINEAGE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: 50,000 shares 50,000$3.92M2.31%newTimeline
BOWBOWHEAD SPECIALTY HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: not reported; 2024Q1: not reported; 2024Q2: 125,049 shares; 2024Q3: 136,697 shares 136,697$3.83M2.26%+11,648Timeline
ICEINTERCONTINENTAL EXCHANGE INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 2023Q1: not reported; 2023Q2: not reported; 2023Q3: not reported; 2023Q4: 56,578 shares; 2024Q1: not reported; 2024Q2: not reported; 2024Q3: 21,219 shares 21,219$3.41M2.01%newTimeline
ABALLIANCEBERNSTEIN HLDG L PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2022Q4: restricted; 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 60,905$2.12M1.25%newTimeline

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
GCM GROSVENOR INCGCM GROSVENOR INC W EXP 11/17/202principal271,048$239Knew

Sold out in Q3 2024

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

SecurityShares beforeValue beforeType
EZPWEZCORP INC911,453$9.54Mshares
BILLBILL HOLDINGS INC169,317$8.91Mshares
DEIDOUGLAS EMMETT INC565,736$7.53Mshares
RPAYREPAY HLDGS CORP649,840$6.86Mshares
RELYREMITLY GLOBAL INC540,244$6.55Mshares
NOAHNOAH HLDGS LTD622,110$6Mshares
CBOECBOE GLOBAL MKTS INC34,645$5.89Mshares
GRBKGREEN BRICK PARTNERS INC90,437$5.18Mshares
NMRKNEWMARK GROUP INC431,637$4.42Mshares
ALAIR LEASE CORP88,531$4.21Mshares
IMXIINTERNATIONAL MONEY EXPRESS101,665$2.12Mshares
GCM GROSVENOR INCGCM GROSVENOR INC271,048$133Kshares

How Q3 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 0001214659-24-019141 base2024-11-14acceptance time not in the bulk data set