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Philadelphia Financial Management of San Francisco, LLC

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13F filer, CIK 1351407, SAN FRANCISCO, CA

Philadelphia Financial Management of San Francisco, LLC reported $495,789,783 across 45 holdings for the quarter ended 2026-06-30, in a 13F-HR filed 2026-08-14. Its ten largest share positions make up 38.63% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001214659-26-010380

Period
2026-06-30
Reported value
$496M
Holdings
45
Top 10 weight
38.63%
New
32
Sold out
30

Largest buys vs the previous quarter

SecurityShares changeApprox. value
WLFCnew+72,763$16.6M
HIGnew+118,700$15.7M
CXWnew+479,235$14.6M
FTAInew+53,419$14.5M
GEOnew+484,100$14.3M

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
THexited-1,616,642-$15M
HCIexited-96,023-$14.8M
BFHexited-172,156-$12.9M
LNCexited-285,000-$10.1M
PNFPexited-115,664-$9.96M

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, Q2 2026

Share positions as resolved from 13F-HR 0001214659-26-010380, largest first. % of portfolio is the value over $364,669,533, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
USAUU S GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 237,931 shares; 2025Q2: 688,161 shares; 2025Q3: 857,708 shares; 2025Q4: 1,209,624 shares; 2026Q1: 969,792 shares; 2026Q2: 1,145,546 shares 1,145,546$17.6M4.82%+175,754Timeline
WLFCWILLIS LEASE FIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 72,763 shares 72,763$16.6M4.57%newTimeline
HIGHARTFORD INSURANCE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 99,471 shares; 2026Q1: not reported; 2026Q2: 118,700 shares 118,700$15.7M4.31%newTimeline
CXWCORECIVIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 896,290 shares; 2025Q2: 757,500 shares; 2025Q3: 634,996 shares; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 479,235 shares 479,235$14.6M3.99%newTimeline
FTAIFTAI AVIATION LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 53,419 shares 53,419$14.5M3.96%newTimeline
GEOGEO GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: 665,697 shares; 2025Q1: 515,749 shares; 2025Q2: 608,775 shares; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 484,100 shares 484,100$14.3M3.92%newTimeline
AIGAMERICAN INTL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 219,361 shares; 2026Q1: 165,000 shares; 2026Q2: 176,449 shares 176,449$13.2M3.61%+11,449Timeline
LEGHLEGACY HOUSING CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 134,227 shares; 2026Q1: 415,163 shares; 2026Q2: 454,425 shares 454,425$11.9M3.27%+39,262Timeline
AJGGALLAGHER ARTHUR J & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: 96,216 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 33,000 shares; 2026Q2: 49,500 shares 49,500$11.4M3.12%+16,500Timeline
LGIHLGI HOMES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 77,068 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 175,175 shares 175,175$11.2M3.06%newTimeline
AXSAXIS CAP HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 104,208 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 124,588 shares; 2025Q4: not reported; 2026Q1: 148,000 shares; 2026Q2: 99,564 shares 99,564$10.7M2.93%-48,436Timeline
CBCHUBB LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 30,300 shares 30,300$10.3M2.83%newTimeline
EQHEQUITABLE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 474,225 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 226,030 shares 226,030$9.92M2.72%newTimeline
WNCWABASH NATL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 726,847 shares 726,847$9.81M2.69%newTimeline
ATLCATLANTICUS HOLDINGS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 89,597 shares 89,597$9.16M2.51%newTimeline
GATXGATX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 96,174 shares; 2025Q3: 62,752 shares; 2025Q4: 68,837 shares; 2026Q1: 50,811 shares; 2026Q2: 50,500 shares 50,500$8.95M2.45%-311Timeline
CUBICUSTOMERS BANCORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 6,614 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 269,491 shares; 2025Q3: 265,645 shares; 2025Q4: 162,129 shares; 2026Q1: 124,100 shares; 2026Q2: 112,143 shares 112,143$8.87M2.43%-11,957Timeline
FICOFAIR ISAAC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 7,340 shares 7,340$8.77M2.4%newTimeline
ASPIASP ISOTOPES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 991,863 shares; 2024Q4: 3,153,545 shares; 2025Q1: 3,508,062 shares; 2025Q2: 2,670,211 shares; 2025Q3: 1,661,494 shares; 2025Q4: not reported; 2026Q1: 648,341 shares; 2026Q2: 1,343,007 shares 1,343,007$8.35M2.29%+694,666Timeline
MIAXMIAMI INTL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 223,715 shares 223,715$8.31M2.28%newTimeline
FCFSFIRSTCASH HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 37,100 shares 37,100$8.03M2.2%newTimeline
HGHAMILTON INSURANCE GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: 816,119 shares; 2025Q1: 713,798 shares; 2025Q2: 236,739 shares; 2025Q3: 584,846 shares; 2025Q4: 495,283 shares; 2026Q1: 223,291 shares; 2026Q2: 234,448 shares 234,448$7.96M2.18%+11,157Timeline
STTSTATE STR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 46,550 shares 46,550$7.89M2.16%newTimeline
ARESARES MANAGEMENT CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: 46,183 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 70,500 shares 70,500$7.85M2.15%newTimeline
PAYPPAYPAY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 515,121 shares 515,121$7.38M2.02%newTimeline
EVREVERCORE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 21,191 shares 21,191$7.24M1.98%newTimeline
FIGRFIGURE TECHNOLOGY SOLUTIOQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 150,000 shares; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 233,900 shares 233,900$7.18M1.97%newTimeline
MCYMERCURY GENL CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 130,876 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 63,200 shares 63,200$6.74M1.85%newTimeline
THGHANOVER INS GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 36,766 shares; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 31,040 shares 31,040$6.65M1.82%newTimeline
SKYCHAMPION HOMES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 190,241 shares; 2025Q4: 155,425 shares; 2026Q1: not reported; 2026Q2: 71,102 shares 71,102$6.27M1.72%newTimeline
TFINTRIUMPH FINANCIAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 110,527 shares; 2026Q2: 81,781 shares 81,781$6.24M1.71%-28,746Timeline
JCAPJEFFERSON CAPITAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 316,853 shares 316,853$6.17M1.69%newTimeline
MSMORGAN STANLEYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 28,400 shares 28,400$5.94M1.63%newTimeline
ENVAENOVA INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: 53,199 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 50,311 shares; 2026Q1: not reported; 2026Q2: 24,355 shares 24,355$5.86M1.61%newTimeline
BCSBARCLAYS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 409,211 shares; 2025Q3: 310,571 shares; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 207,000 shares 207,000$5.56M1.52%newTimeline
BULLWEBULL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 850,500 shares 850,500$5.55M1.52%newTimeline
CVCOCAVCO INDS INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 15,850 shares; 2026Q2: 8,810 shares 8,810$5.41M1.48%-7,040Timeline
CCJCAMECO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 45,300 shares 45,300$4.61M1.27%newTimeline
FRMIFERMI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 677,866 shares; 2026Q1: not reported; 2026Q2: 425,000 shares 425,000$3.89M1.07%newTimeline
ACVAACV AUCTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,023,871 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 511,900 shares 511,900$3.68M1.01%newTimeline
KAZRSKYLINE BLDRS GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 64,800 shares; 2025Q4: 608,753 shares; 2026Q1: 660,102 shares; 2026Q2: 1,037,286 shares 1,037,286$3.21M0.88%+377,184Timeline
DOMHDOMINARI HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 358,183 shares 358,183$1.12M0.31%newTimeline
NFENEW FORTRESS ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: 1,481,414 shares; 2025Q1: 95,277 shares; 2025Q2: 400,228 shares; 2025Q3: 359,925 shares; 2025Q4: 209,964 shares; 2026Q1: 600,000 shares; 2026Q2: 600,000 shares 600,000$218K0.06%0Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
IWMISHARES TR SHSput250,000$75.1Mnew
SPYSTATE STR SPDR S&P 500 ETF T SHSput75,000$56Mnew

Sold out in Q2 2026

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

SecurityShares beforeValue beforeType
GSGOLDMAN SACHS GROUP INC39,500$33.4Mput
THTARGET HOSPITALITY CORP1,616,642$15Mshares
HCIHCI GROUP INC96,023$14.8Mshares
BFHBREAD FINANCIAL HOLDINGS INC172,156$12.9Mshares
LNCLINCOLN NATL CORP IND285,000$10.1Mshares
PNFPPINNACLE FINL PARTNERS INC115,664$9.96Mshares
EZPWEZCORP INC371,657$9.43Mshares
OPLNOPENLANE INC321,800$9.38Mshares
AONAON PLC28,000$9.04Mshares
AERAERCAP HOLDINGS NV64,253$8.81Mshares
BOHBANK OF HI CORP117,700$8.74Mshares
EWBCEAST WEST BANCORP INC81,600$8.71Mshares
SFSTIFEL FINL CORP113,348$8.38Mshares
MCHBMECHANICS BANCORP545,321$8.04Mshares
MAMASTERCARD INCORPORATED15,200$7.59Mshares
AXAXOS FINANCIAL INC88,200$7.5Mshares
SOCSABLE OFFSHORE CORP453,722$7.5Mshares
CACCCREDIT ACCEP CORP MICH16,538$7Mshares
BPOPPOPULAR INC48,500$6.51Mshares
BKVBKV CORP214,880$6.13Mshares
PFSIPENNYMAC FINL SVCS INC NEW69,366$6.06Mshares
GLNGGOLAR LNG LTD109,400$5.92Mshares
HOODROBINHOOD MKTS INC78,883$5.47Mshares
JXNJACKSON FINANCIAL INC50,000$5.29Mshares
SLDESLIDE INS HLDGS INC280,000$5.04Mshares
MAXMEDIAALPHA INC480,000$4.46Mshares
ALMALMONTY INDS INC145,000$2.1Mshares
AZA2Z CUST2MATE SOLUTIONS CORP53,047$354Kshares
LDILOANDEPOT INC243,001$345Kshares
NODKNI HLDGS INC14,758$190Kshares

How Q2 2026 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 0001214659-26-010380 base2026-08-14acceptance time not in the bulk data set