Phocas Financial Corp.

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 9, 2025), Phocas Financial Corp. reported 145 stock positions worth $652.2 million. Its top holding was Skywest (SKYW) at 2.3% of the portfolio, followed by Wintrust Financial (WTFC, 2.1%) and Nexstar Media (NXST, 2.1%). Compared with Q4 2024, it opened 14 new positions, sold out of 23, added to 14 and reduced 99. The biggest buy was Nexstar Media (NXST, shares +53%) and the biggest sale an exit from Encompass Health (EHC).

Most Recent 13F
Q2 2026
Location
ALAMEDA, CA
CIK
0001356783
Portfolio Value
$652.2M (Q1 2025)
SEC Filing
0001754960-25-000285 ↗ filed May 9, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $887.4M Q1 2024 Q2 2024: $876.8M Q2 2024 Q3 2024: $887.2M Q3 2024 Q4 2024: $748.8M Q4 2024 Q1 2025: $652.2M $652.2M Q1 2025 Q2 2025: $695.3M Q2 2025 Q3 2025: $771.4M Q3 2025 Q4 2025: $768.9M Q4 2025 Q1 2026: $636.9M Q1 2026 Q2 2026: $720.7M Q2 2026

Holdings 145 stocks · $652.2M
SKYW Skywest Inc. 2.32% 173,392 $15.1M Reduce -5.3%
WTFC Wintrust Financial Corp. 2.09% 121,067 $13.6M Reduce -5.5%
NXST Nexstar Media Group Inc. 2.05% 74,722 $13.4M Add +52.6%
CVSA Covista Inc. filed as ADTALEM GLOBAL ED INC 1.91% 123,847 $12.5M Reduce -5.5%
CASH Pathward Financial Inc. 1.83% 163,341 $11.9M Reduce -5.5%
FRME First Merchants Corp. 1.65% 266,538 $10.8M Reduce -5.4%
PFBC Preferred Bank/Los Angeles 1.64% 127,522 $10.7M Reduce -5.5%
KMPR Kemper Corp. 1.62% 157,999 $10.6M Reduce -5.3%
AMRX Amneal Pharmaceuticals Inc. 1.62% 1,259,378 $10.6M Reduce -5.3%
WTM White Mountains Insurance GP 1.59% 5,391 $10.4M Reduce -5.5%
BKH Black Hills Corp. 1.59% 171,060 $10.4M Reduce -5.5%
SNEX Stonex Group Inc. 1.56% 133,596 $10.2M Add +103.2%
ABCB Ameris Bancorp 1.51% 171,569 $9.9M Reduce -5.5%
FHN First Horizon Corp. 1.49% 499,625 $9.7M Reduce -5.5%
KD Kyndryl Holdings Inc. 1.38% 287,218 $9.0M Reduce -22.9%
PRIM Primoris Services Corp. 1.38% 156,829 $9.0M Reduce -30.7%
RRC Range Resources Corp. 1.30% 212,245 $8.5M Reduce -5.5%
FNB FNB Corp. 1.27% 614,578 $8.3M Reduce -5.5%
TCBI Texas Capital Bancshares Inc. 1.26% 110,002 $8.2M Reduce -5.5%
POR Portland General Electric Co. 1.24% 181,611 $8.1M Reduce -5.4%
SNV Synovus Financial Corp. 1.20% 167,834 $7.8M Reduce -5.3%
RHP Ryman Hospitality Properties 1.19% 84,888 $7.8M Reduce -5.4%
OTTR Otter Tail Corp. 1.18% 95,905 $7.7M Reduce -5.5%
ONB Old National Bancorp 1.18% 363,219 $7.7M Reduce -5.5%
ADC Agree Realty Corp. 1.18% 99,294 $7.7M Reduce -5.4%
LNTH Lantheus Holdings Inc. 1.17% 78,493 $7.7M Reduce -5.5%
IRT Independence Realty Trust Inc. 1.16% 356,428 $7.6M Reduce -5.4%
PNFP Pinnacle Financial Partners 1.12% 69,189 $7.3M Reduce -5.5%
TTMI TTM Technologies 1.11% 354,266 $7.3M Add +23.1%
TRNO Terreno Realty Corp. 1.11% 114,922 $7.3M Reduce -5.5%
CMA Comerica Inc. 1.11% 122,387 $7.2M Reduce -5.5%
AIR Aar Corp. 1.09% 127,347 $7.1M Reduce -5.5%
CHCT Community Healthcare Trust I 1.09% 392,007 $7.1M Reduce -4.3%
BANR Banner Corporation 1.09% 111,339 $7.1M Reduce -5.5%
EFSC Enterprise Financial Service 1.08% 131,078 $7.0M Reduce -5.4%
SANM Sanmina Corp. 1.02% 87,649 $6.7M Add +13.4%
CRS Carpenter Technology 1.02% 36,750 $6.7M Reduce -54.1%
TPH Tri Pointe Homes Inc. 1.01% 206,951 $6.6M Reduce -5.5%
SPTN Spartannash Co. 1.01% 324,606 $6.6M Add +49.3%
DCO Ducommun Inc. 1.00% 112,632 $6.5M Add +26.9%
R Ryder System Inc. 0.97% 44,107 $6.3M Reduce -5.2%
BGC BGC Group Inc. Class A 0.97% 689,312 $6.3M Add +87.8%
SAH Sonic Automotive Inc. Class A 0.96% 110,169 $6.3M Reduce -5.3%
PR Permian Resources Corp. Class A 0.96% 452,832 $6.3M Reduce -6.4%
AAP Advance Auto Parts Inc. 0.95% 158,598 $6.2M Add +65.2%
AVNT Avient Corp. 0.93% 163,955 $6.1M Reduce -5.5%
SLG SL Green Realty Corp. 0.93% 105,383 $6.1M Reduce -4.5%
GIII G-III Apparel Group Ltd. 0.93% 221,491 $6.1M Reduce -5.3%
KRG Kite Realty Group Trust 0.93% 270,213 $6.0M Reduce -5.3%
SPB Spectrum Brands Holdings Inc. 0.90% 81,688 $5.8M Reduce -5.5%
MTRN Materion Corp. 0.89% 71,526 $5.8M Reduce -5.5%
BOOT Boot Barn Holdings Inc. 0.89% 54,301 $5.8M Reduce -28.6%
HRI Herc Holdings Inc. filed as HERC HLDGS INC 0.89% 43,188 $5.8M Reduce -5.5%
COLB Columbia Banking System Inc. 0.87% 228,169 $5.7M Reduce -5.4%
CHX Championx Corp. 0.86% 187,685 $5.6M Reduce -5.4%
PPBI Pacific Premier Bancorp Inc. 0.86% 261,877 $5.6M Reduce -5.4%
ABBV Abbvie Inc. 0.84% 26,239 $5.5M Add +0.1%
LADR Ladder Capital Corp.-REIT 0.82% 466,089 $5.3M Reduce -5.5%
VRRM Verra Mobility Corp. 0.81% 235,410 $5.3M Reduce -5.5%
OMF Onemain Holdings Inc. 0.77% 102,729 $5.0M Reduce -5.5%
XRN Global Medical REIT Inc. 0.77% 572,131 $5.0M Reduce -8.1%
NPO Enpro Inc. 0.76% 30,673 $5.0M Reduce -5.5%
ACHC Acadia Healthcare Co. Inc. 0.75% 161,183 $4.9M Add +70.9%
AM Antero Midstream Corp. 0.72% 261,935 $4.7M Reduce -5.4%
APAM Artisan Partners Asset Ma -A 0.69% 114,508 $4.5M Reduce -5.5%
NOG Northern Oil and Gas Inc. 0.67% 144,198 $4.4M Reduce -5.4%
UMBF Umb Financial Corp. 0.66% 42,618 $4.3M New
PLUS Eplus Inc. 0.64% 68,642 $4.2M Add +61.7%
LZB La-Z-Boy Inc. 0.63% 105,916 $4.1M Reduce -5.5%
REVG Rev Group Inc. 0.62% 127,274 $4.0M Reduce -5.4%
QDEL Quidelortho Corp. 0.61% 114,223 $4.0M Add +46.2%
EXEL Exelixis Inc. 0.59% 103,376 $3.8M Reduce -5.2%
LYTS Lsi Industries Inc. 0.56% 213,940 $3.6M Reduce -5.4%
CSR Centerspace 0.55% 55,463 $3.6M Reduce -5.2%
FUL H.B. Fuller Co. filed as FULLER H B CO 0.55% 63,649 $3.6M Reduce -5.3%
PCRX Pacira Biosciences Inc. 0.54% 142,443 $3.5M New
TKR Timken Co. 0.53% 48,068 $3.5M Reduce -5.3%
MAC The Macerich Co. 0.52% 199,112 $3.4M New
EPC Edgewell Personal Care Co. 0.52% 109,126 $3.4M Reduce -5.5%
CHRD Chord Energy Corp. 0.52% 30,195 $3.4M Reduce -6.4%
CUZ Cousins Properties Inc. 0.52% 113,896 $3.4M New
SUPN Supernus Pharmaceuticals Inc. 0.51% 102,550 $3.4M Reduce -5.5%
URBN Urban Outfitters Inc. 0.51% 63,880 $3.3M Reduce -5.2%
CRGY Crescent Energy Inc. Class A 0.50% 291,223 $3.3M Reduce -5.4%
ELME Elme Communities 0.50% 187,874 $3.3M New
KFRC Kforce Inc. 0.49% 65,836 $3.2M Reduce -5.5%
SHC Sotera Health Co. 0.49% 273,834 $3.2M Reduce -5.4%
ANGO Angiodynamics Inc. 0.49% 338,358 $3.2M New
TWO Two Harbors Investment Corp. filed as TWO HBRS INVT CORP 0.49% 237,124 $3.2M Reduce -5.4%
SEM Select Medical Holdings Corp. 0.48% 189,350 $3.2M Add +90.2%
MDXG Mimedx Group Inc. 0.48% 411,847 $3.1M Add +96.5%
THS Treehouse Foods Inc. 0.47% 113,872 $3.1M New
VRNT Verint Systems Inc. 0.47% 171,388 $3.1M Reduce -5.4%
COHR Coherent Corp. 0.46% 46,066 $3.0M Reduce -37.5%
SWX Southwest Gas Holdings Inc. 0.44% 40,140 $2.9M Reduce -5.5%
SKX Skechers USA Inc. Class A 0.44% 50,658 $2.9M Reduce -5.5%
MGY Magnolia Oil & Gas Corp. Class A 0.43% 112,051 $2.8M Reduce -6.1%
BTSG Brightspring Health Services 0.43% 153,608 $2.8M New
GDEN Golden Entertainment Inc. 0.39% 95,307 $2.5M Reduce -5.5%
MKSI MKS Inc. filed as MKS INSTRS INC 0.37% 30,235 $2.4M Reduce -5.4%
SCHX Schwab US Large-Cap ETF 0.35% 102,564 $2.3M Reduce -3.5%
ELAN Elanco Animal Health Inc. 0.35% 215,406 $2.3M Reduce -5.4%
AAPL Apple Inc. 0.32% 9,325 $2.1M No change
THRY Thryv Holdings Inc. 0.30% 152,164 $1.9M Reduce -5.5%
AXSM Axsome Therapeutics Inc. 0.30% 16,588 $1.9M Reduce -5.5%
JACK Jack in the Box Inc. 0.27% 64,866 $1.8M Reduce -5.5%
ACAD Acadia Pharmaceuticals Inc. 0.26% 102,161 $1.7M Reduce -5.2%
ARQT Arcutis Biotherapeutics Inc. 0.25% 103,999 $1.6M New
MIRM Mirum Pharmaceuticals Inc. 0.25% 35,556 $1.6M Reduce -5.4%
MSFT Microsoft Corp. 0.23% 4,080 $1.5M Reduce -3.2%
NVDA Nvidia Corp. 0.23% 13,650 $1.5M No change
VCYT Veracyte Inc. 0.22% 49,318 $1.5M Reduce -5.4%
GOOGL Alphabet Inc. Class A 0.21% 8,784 $1.4M No change
BRK.B Berkshire Hathaway Inc. Class B 0.20% 2,412 $1.3M No change
CRK Comstock Resources Inc. 0.17% 54,827 $1.1M New
ETN Eaton Corp. PLC 0.17% 4,090 $1.1M No change
JNJ Johnson & Johnson 0.14% 5,689 $943K No change
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.12% 2,300 $794K No change
SCHB Schwab US Broad Market ETF 0.12% 36,417 $784K No change
DOV Dover Corp. 0.10% 3,615 $635K No change
COST Costco Wholesale Corp. 0.09% 606 $573K No change
CSD Invesco S&P Spin-Off ETF 0.09% 7,400 $555K No change
EQIX Equinix Inc. 0.07% 587 $479K Reduce -2.0%
PEP Pepsico Inc. 0.07% 3,113 $467K No change
AMZN Amazon.com Inc. 0.07% 2,450 $466K No change
SPG Simon Property Group Inc. 0.07% 2,649 $440K Reduce -2.1%
AMT American Tower Corp. 0.06% 1,862 $405K Reduce -2.3%
CI The Cigna Group 0.06% 1,210 $398K No change
UL Unilever PLC 0.05% 6,000 $357K No change
PLD Prologis Inc. 0.05% 3,163 $354K Reduce -2.4%
SCHH Schwab US REIT ETF 0.05% 16,411 $353K No change
GOOG Alphabet Inc. Class C 0.05% 2,200 $344K No change
EFA iShares MSCI Eafe ETF 0.04% 3,520 $288K Reduce -6.4%
INVH Invitation Homes Inc. 0.04% 8,090 $282K Reduce -2.3%
MAA Mid-America Apartment Comm 0.04% 1,658 $278K Reduce -2.2%
AGG iShares Core U.S. Aggregate 0.04% 2,791 $276K No change
EXR Extra Space Storage Inc. 0.04% 1,857 $276K Reduce -2.1%
SUI Sun Communities Inc. filed as SUN CMNTYS INC 0.04% 1,898 $244K Reduce -1.9%
ARE Alexandria Real Estate Equit 0.04% 2,629 $243K New
FRT Federal Realty Invs Trust 0.04% 2,404 $235K New
UNH Unitedhealth Group Inc. 0.03% 435 $228K Reduce -5.4%
IYR iShares US Real Estate ETF 0.03% 2,350 $225K Reduce -24.2%
JPM JPMorgan Chase & Co. 0.03% 851 $209K New
WELL Welltower Inc. 0.03% 1,354 $207K New
PSA Public Storage 0.03% 691 $207K Reduce -2.8%

Portfolio Sells Q4 2024 → Q1 2025
EHC Encompass Health Corp. Sold out 0.00% −0.97
PRIM Primoris Services Corp. Reduce -30.7% 1.38% −0.93
AHRT Ah Realty Trust Inc. Sold out 0.00% −0.90
PLXS Plexus Corp. Sold out 0.00% −0.89
CRS Carpenter Technology Reduce -54.1% 1.02% −0.79
CIVI Civitas Resources Inc. Sold out 0.00% −0.74
STRL Sterling Infrastructure Inc. Sold out 0.00% −0.73
HTLF Heartland Financial USA Inc. Sold out 0.00% −0.67
BOOT Boot Barn Holdings Inc. Reduce -28.6% 0.89% −0.65
PTEN Patterson-Uti Energy Inc. Sold out 0.00% −0.58
SRDX Surmodics Inc. Sold out 0.00% −0.55
ROIC Retail Opportunity Investmen Sold out 0.00% −0.54
MTH Meritage Homes Corp. Sold out 0.00% −0.49
COHR Coherent Corp. Reduce -37.5% 0.46% −0.47
DFIN Donnelley Financial Solution Sold out 0.00% −0.42
ACH Accendra Health Inc. Sold out 0.00% −0.38
KD Kyndryl Holdings Inc. Reduce -22.9% 1.38% −0.34
PEB Pebblebrook Hotel Trust Sold out 0.00% −0.31
CDMO Avid Bioservices Inc. Sold out 0.00% −0.30
HRI Herc Holdings Inc. Reduce -5.5% 0.89% −0.27
ITCI Intra-Cellular Therapies Inc. Sold out 0.00% −0.21
VRNT Verint Systems Inc. Reduce -5.4% 0.47% −0.20
EQT Eqt Corp. Sold out 0.00% −0.17
SKYW Skywest Inc. Reduce -5.3% 2.32% −0.13
JACK Jack in the Box Inc. Reduce -5.5% 0.27% −0.11
MTRN Materion Corp. Reduce -5.5% 0.89% −0.10
CRGY Crescent Energy Inc. Class A Reduce -5.4% 0.50% −0.10
GIII G-III Apparel Group Ltd. Reduce -5.3% 0.93% −0.09
NOG Northern Oil and Gas Inc. Reduce -5.4% 0.67% −0.09
SPB Spectrum Brands Holdings Inc. Reduce -5.5% 0.90% −0.08
MKSI MKS Inc. Reduce -5.4% 0.37% −0.07
SLG SL Green Realty Corp. Reduce -4.5% 0.93% −0.07
PPBI Pacific Premier Bancorp Inc. Reduce -5.4% 0.86% −0.07
RHP Ryman Hospitality Properties Reduce -5.4% 1.19% −0.06
FUL H.B. Fuller Co. Reduce -5.3% 0.55% −0.06
VCYT Veracyte Inc. Reduce -5.4% 0.22% −0.05
TPH Tri Pointe Homes Inc. Reduce -5.5% 1.01% −0.05
WTFC Wintrust Financial Corp. Reduce -5.5% 2.09% −0.05
SKX Skechers USA Inc. Class A Reduce -5.5% 0.44% −0.04
GDEN Golden Entertainment Inc. Reduce -5.5% 0.39% −0.04
SHC Sotera Health Co. Reduce -5.4% 0.49% −0.04
KRG Kite Realty Group Trust Reduce -5.3% 0.93% −0.04
KFRC Kforce Inc. Reduce -5.5% 0.49% −0.03
PBF PBF Energy Inc. Class A Sold out 0.00% −0.03
REXR Rexford Industrial Realty Inc. Sold out 0.00% −0.03
LYTS Lsi Industries Inc. Reduce -5.4% 0.56% −0.03
KKR KKR & Co. Inc. Sold out 0.00% −0.03
PANW Palo Alto Networks Inc. Sold out 0.00% −0.03
KIM Kimco Realty Corp. Sold out 0.00% −0.03
BAC Bank of America Corp. Sold out 0.00% −0.03

Portfolio Buys Q4 2024 → Q1 2025
NXST Nexstar Media Group Inc. Add +52.6% 2.05% +1.02
SNEX Stonex Group Inc. Add +103.2% 1.56% +0.99
UMBF Umb Financial Corp. New 0.66% +0.66
PCRX Pacira Biosciences Inc. New 0.54% +0.54
BGC BGC Group Inc. Class A Add +87.8% 0.97% +0.53
MAC The Macerich Co. New 0.52% +0.52
CUZ Cousins Properties Inc. New 0.52% +0.52
ELME Elme Communities New 0.50% +0.50
ANGO Angiodynamics Inc. New 0.49% +0.49
SPTN Spartannash Co. Add +49.3% 1.01% +0.48
THS Treehouse Foods Inc. New 0.47% +0.47
BTSG Brightspring Health Services New 0.43% +0.43
AAP Advance Auto Parts Inc. Add +65.2% 0.95% +0.35
ACHC Acadia Healthcare Co. Inc. Add +70.9% 0.75% +0.25
ARQT Arcutis Biotherapeutics Inc. New 0.25% +0.25
DCO Ducommun Inc. Add +26.9% 1.00% +0.25
SANM Sanmina Corp. Add +13.4% 1.02% +0.24
SEM Select Medical Holdings Corp. Add +90.2% 0.48% +0.23
PLUS Eplus Inc. Add +61.7% 0.64% +0.22
ABBV Abbvie Inc. Add +0.1% 0.84% +0.22
MDXG Mimedx Group Inc. Add +96.5% 0.48% +0.21
CRK Comstock Resources Inc. New 0.17% +0.17
TTMI TTM Technologies Add +23.1% 1.11% +0.16
QDEL Quidelortho Corp. Add +46.2% 0.61% +0.15
ARE Alexandria Real Estate Equit New 0.04% +0.04
FRT Federal Realty Invs Trust New 0.04% +0.04
JPM JPMorgan Chase & Co. New 0.03% +0.03
WELL Welltower Inc. New 0.03% +0.03

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 153$720.7MDCO, AMRX, AIR, MTRN, SNEX
Q1 2026 155$636.9MAMRX, CASH, AIR, WTFC, SNEX
Q4 2025Amended 148$768.9MWTFC, AMRX, NXST, SKYW, COLB
Q3 2025 147$771.4MCVSA, PRIM, WTFC, NXST, TTMI
Q2 2025 142$695.3MSKYW, TTMI, CVSA, WTFC, CASH
Q1 2025 145$652.2MSKYW, WTFC, NXST, CVSA, CASH
Q4 2024Amended 154$748.8MSKYW, PRIM, WTFC, CRS, KD
Q3 2024 138$887.2MSTRL, BOOT, NXST, SKYW, PRIM
Q2 2024 134$876.8MSTRL, BOOT, NXST, ATKR, SKYW
Q1 2024Amended 142$887.4MSTRL, ATKR, NXST, BOOT, MTRN