Phase 2 Partners, LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Phase 2 Partners, LLC reported 27 stock positions worth $191.3 million. Its top holding was Kilroy Realty (KRC) at 6.8% of the portfolio, followed by Bill (BILL, 6.7%) and Wisdomtree (WT, 5.9%). Compared with Q4 2023, it opened 15 new positions, sold out of 9, added to 5 and reduced 7. The biggest buy was a new position in Bill (BILL) and the biggest sale an exit from Citigroup (C).
- Most Recent 13F
- Q4 2024
- Location
- San Francisco, CA
- CIK
- 0001841126
- Portfolio Value
- $191.3M (Q1 2024)
- SEC Filing
- 0001214659-24-009313 ↗ filed May 15, 2024
Holdings Value
Holdings 27 stocks · $191.3M
| KRC Kilroy Realty Corp. | 6.78% | 355,789 | $13.0M | Add +58.3% |
| BILL Bill Holdings Inc. | 6.74% | 187,688 | $12.9M | New |
| WT Wisdomtree Inc. | 5.86% | 1,219,276 | $11.2M | Add +12.3% |
| KMPR Kemper Corp. | 5.71% | 176,547 | $10.9M | Reduce -54.5% |
| FLYW Flywire Corp.-Voting | 5.46% | 421,229 | $10.5M | Reduce -39.1% |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 5.33% | 188,387 | $10.2M | New |
| DEI Douglas Emmett Inc. | 5.13% | 707,895 | $9.8M | Add +99.0% |
| BXP BXP Inc. filed as BOSTON PROPERTIES INC | 5.02% | 147,012 | $9.6M | Add +6.0% |
| Z Zillow Group Inc. Class C | 4.95% | 194,060 | $9.5M | Add +85.9% |
| FHI Federated Hermes Inc. | 4.23% | 224,165 | $8.1M | New |
| RPAY Repay Holdings Corp. | 4.02% | 698,620 | $7.7M | New |
| CBOE Cboe Global Markets Inc. | 3.43% | 35,664 | $6.6M | New |
| ENV Envestnet Inc. | 3.38% | 111,497 | $6.5M | Reduce -65.0% |
| ALL Allstate Corp. | 3.23% | 35,724 | $6.2M | Reduce -57.3% |
| FCFS Firstcash Holdings Inc. | 3.15% | 47,199 | $6.0M | Reduce -24.9% |
| DFS Discover Financial Services | 3.12% | 45,553 | $6.0M | New |
| RELY Remitly Global Inc. | 3.02% | 278,318 | $5.8M | New |
| TMHC Taylor Morrison Home Corp. | 2.84% | 87,306 | $5.4M | New |
| NLY Annaly Capital Management Inc. | 2.68% | 260,174 | $5.1M | New |
| CG The Carlyle Group Inc. | 2.64% | 107,830 | $5.1M | New |
| RPC Ridgepost Capital Inc. Class A filed as P10 INC | 2.54% | 577,579 | $4.9M | New |
| AB Alliancebernstein Holding LP | 2.48% | 136,376 | $4.7M | Reduce -26.3% |
| NMRK Newmark Group Inc. Class A | 2.19% | 377,979 | $4.2M | New |
| GCMG GCM Grosvenor Inc. Class A | 1.86% | 369,249 | $3.6M | New |
| BRDG Bridge Investment Grp HDS-A | 1.46% | 408,543 | $2.8M | New |
| LAZ Lazard Inc. | 1.42% | 64,704 | $2.7M | Reduce -53.0% |
| MCY Mercury General Corp. | 1.34% | 49,604 | $2.6M | New |
Portfolio Sells Q4 2023 → Q1 2024
| C Citigroup Inc. | Sold out | 0.00% | −6.12 |
| ENV Envestnet Inc. | Reduce -65.0% | 3.38% | −4.95 |
| INVH Invitation Homes Inc. | Sold out | 0.00% | −4.82 |
| GPN Global Payments Inc. | Sold out | 0.00% | −4.42 |
| TWO Two Harbors Investment Corp. | Sold out | 0.00% | −4.28 |
| KMPR Kemper Corp. | Reduce -54.5% | 5.71% | −4.25 |
| WAL Western Alliance Bancorp | Sold out | 0.00% | −4.20 |
| FAF First American Financial | Sold out | 0.00% | −4.05 |
| ICE Intercontinental Exchange Inc. | Sold out | 0.00% | −3.84 |
| SSNC Ss&c Technologies Holdings | Sold out | 0.00% | −3.77 |
| FLYW Flywire Corp.-Voting | Reduce -39.1% | 5.46% | −2.99 |
| ALL Allstate Corp. | Reduce -57.3% | 3.23% | −2.95 |
| HUDSON PAC PPTYS INC | Sold out | 0.00% | −2.66 |
| LAZ Lazard Inc. | Reduce -53.0% | 1.42% | −1.11 |
| AB Alliancebernstein Holding LP | Reduce -26.3% | 2.48% | −0.56 |
| FCFS Firstcash Holdings Inc. | Reduce -24.9% | 3.15% | −0.45 |
Portfolio Buys Q4 2023 → Q1 2024
| BILL Bill Holdings Inc. | New | 6.74% | +6.74 |
| FUTU Futu Holdings Ltd.-ADR | New | 5.33% | +5.33 |
| FHI Federated Hermes Inc. | New | 4.23% | +4.23 |
| RPAY Repay Holdings Corp. | New | 4.02% | +4.02 |
| CBOE Cboe Global Markets Inc. | New | 3.43% | +3.43 |
| DFS Discover Financial Services | New | 3.12% | +3.12 |
| RELY Remitly Global Inc. | New | 3.02% | +3.02 |
| TMHC Taylor Morrison Home Corp. | New | 2.84% | +2.84 |
| NLY Annaly Capital Management Inc. | New | 2.68% | +2.68 |
| CG The Carlyle Group Inc. | New | 2.64% | +2.64 |
| RPC Ridgepost Capital Inc. Class A | New | 2.54% | +2.54 |
| DEI Douglas Emmett Inc. | Add +99.0% | 5.13% | +2.41 |
| NMRK Newmark Group Inc. Class A | New | 2.19% | +2.19 |
| KRC Kilroy Realty Corp. | Add +58.3% | 6.78% | +2.05 |
| WT Wisdomtree Inc. | Add +12.3% | 5.86% | +1.88 |
| GCMG GCM Grosvenor Inc. Class A | New | 1.86% | +1.86 |
| Z Zillow Group Inc. Class C | Add +85.9% | 4.95% | +1.76 |
| BRDG Bridge Investment Grp HDS-A | New | 1.46% | +1.46 |
| MCY Mercury General Corp. | New | 1.34% | +1.34 |
| BXP BXP Inc. | Add +6.0% | 5.02% | −0.12 |