SECOND CURVE CAPITAL LLC

Exempt adviser

CIK

1136704

Location

Radnor, PA

Portfolio Value

Micro $92,211,244

Diversification

Diversified

Filing Date

Global Rank

#6,457 / 6,919 ▼ 712 · as of Dec 2021

Top Industry

Banks - Regional 54.8%

Period ended 4 years ago

Filed Feb 11, 2022 · 4y

8 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Exempt adviser

Form ADV roster, Nov 1, 2026

Form ADV adviser

CRD 161774

Roster of Nov 1, 2026

Private funds

4 funds · Hedge funds

Focus by fund count, roster of Nov 1, 2026

$52,347,350 gross assets

Private funds on Schedule D 7.B.(1)

As filed Mar 13, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$50,052,757 gross assets in 4 funds Hedge funds $50,052,757 (4)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Nov 2026	—	—
Mar 2025 to Mar 2026	—	—
Apr 2024 to Feb 2025	—	—
Jun 2023 to Mar 2024	—	—
May 2023	$0	—
Sep 2021 to Apr 2023	—	—

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Dec 31, 2021, never from the firm's own description.

Style

Concentrated

The top 10 positions are 64.3% of the book (60%+)

Turnover

Medium turnover

45.8% over the last four quarters (30% to under 100%)

Horizon

Horizon unknown

The value-weighted holding period is at least 5.1 quarters, but 29.1% of the book was already held when coverage starts

Closest benchmark: the S&P SmallCap 600 as of 2021-12-31, active share 98.7%; sector active share 69.6% against the combined 13F book's sector weights.

Over time 8 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

25 tracked positions · as of Dec 31, 2021 · Δ vs Sep 30, 2021

Top Position

10.7%

−2.9 pts

Top 5

37.0%

−8.2 pts

Top 10

64.3%

−7.0 pts

HHI

557

Diversified−111

Portfolio Trend

8 quarters · across all stocks

Sector Breakdown

As of Dec 31, 2021

Sector	% Portfolio	Value	Positions
Financial Services	78.8%	$72,685,844	20
Unclassified	19.7%	$18,158,000	4
Technology	1.5%	$1,367,400	1

Last Quarter's Activity

Export CSV

Dec 31, 2021 vs Sep 30, 2021

Added To

Positions the filer increased

8 positions

Ticker	Company	Δ Shares	Shares	Value
CCB	Coastal Financial Corp	+47,000	113,753	$5,758,176
ALLY	Ally Financial Inc.	+34,000	135,650	$6,458,296
CASH	Pathward Financial, Inc.	+25,000	85,837	$5,121,035
ECPG	Encore Capital Group Inc	+21,700	83,042	$5,157,738
OMF	OneMain Holdings, Inc.	+19,500	100,089	$5,008,453
MYFW	First Western Financial Inc	+15,000	36,818	$1,117,794
—		+13,000	121,178	$4,820,000
COF	Capital One Financial Corp	+2,800	31,019	$4,500,546
No positions match the current search.

Trimmed

Positions the filer reduced

7 positions

Ticker	Company	Δ Shares	Shares	Value
TBBK	Bancorp, Inc.	−92,000	201,074	$5,089,182
RM	Regional Management Corp.	−28,386	27,403	$1,574,576
ENVA	Enova International, Inc.	−27,000	130,000	$5,324,800
QCRH	Qcr Holdings Inc	−10,000	45,000	$2,520,000
—		−7,895	614,125	$9,832,000
MVBF	Mvb Financial Corp	−4,281	162,403	$6,742,972
TFIN	Triumph Financial, Inc.	−3,000	39,752	$4,733,668
No positions match the current search.

New Positions

Positions the filer opened this quarter

7 positions

Ticker	Company	Shares	Value
MCB	Metropolitan Bank Holding Corp.	37,600	$4,005,528
ATLC	Atlanticus Holdings Corp	49,000	$3,494,680
—		3,500	$1,132,000
AX	Axos Financial, Inc.	20,000	$1,118,200
INBK	First Internet Bancorp	20,000	$940,800
C	Citigroup Inc	10,000	$603,900
CBNK	Capital Bancorp Inc	18,000	$471,600
No positions match the current search.

Sold Out

Positions the filer fully exited

4 positions

Ticker	Company	Shares	Value
COIN	Coinbase Global, Inc.	13,000	$2,957,240
RBB	RBB Bancorp	49,593	$1,250,239
KEY	Keycorp	12,500	$270,250
BWB	Bridgewater Bancshares Inc	10,000	$175,100
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

25 tracked positions · $92,211,244 total · filing declares 26 positions · $93,082,000 · as of Dec 31, 2021

All sectors Financial Services Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
		Reduced	614,125	-7,895	$9,832,000	−8.8%	8+	before history	10.66%
MVBF	Mvb Financial Corp Financial Services	Reduced	162,403	-4,281	$6,742,972	−5.5%	8+	before history	7.31%
ALLY	Ally Financial Inc. Financial Services	Added	135,650	+34,000	$6,458,296	+24.5%	7	$28.51	7.00%
CCB	Coastal Financial Corp Financial Services	Added	113,753	+47,000	$5,758,176	+170.8%	2	$34.60	6.24%
ENVA	Enova International, Inc. Financial Services	Reduced	130,000	-27,000	$5,324,800	−1.8%	4	$30.39	5.77%
ECPG	Encore Capital Group Inc Financial Services	Added	83,042	+21,700	$5,157,738	+70.7%	8+	before history	5.59%
CASH	Pathward Financial, Inc. Financial Services	Added	85,837	+25,000	$5,121,035	+60.4%	5	$38.99	5.55%
TBBK	Bancorp, Inc. Financial Services	Reduced	201,074	-92,000	$5,089,182	−31.8%	8+	before history	5.52%
OMF	OneMain Holdings, Inc. Financial Services	Added	100,089	+19,500	$5,008,453	+12.3%	6	$41.12	5.43%
		Added	121,178	+13,000	$4,820,000	+13.2%	4	unpriced	5.23%
TFIN	Triumph Financial, Inc. Financial Services	Reduced	39,752	-3,000	$4,733,668	+10.6%	6	$42.68	5.13%
COF	Capital One Financial Corp Financial Services	Added	31,019	+2,800	$4,500,546	−1.5%	5	$113.91	4.88%
MCB	Metropolitan Bank Holding Corp. Financial Services	NEW	37,600	NEW	$4,005,528	NEW	1	$95.08	4.34%
ATLC	Atlanticus Holdings Corp Financial Services	NEW	49,000	NEW	$3,494,680	NEW	1	$66.86	3.79%
CNOB	ConnectOne Bancorp, Inc. Financial Services	Held	90,000	0	$2,943,900	+9.0%	3	$27.03	3.19%
QCRH	Qcr Holdings Inc Financial Services	Reduced	45,000	-10,000	$2,520,000	−10.9%	3	$47.96	2.73%
		Held	3,500	0	$2,374,000	+4.9%	3	unpriced	2.57%
RM	Regional Management Corp. Financial Services	Reduced	27,403	-28,386	$1,574,576	−51.5%	7	$15.97	1.71%
IIIV	i3 Verticals, Inc. Technology	Held	60,000	0	$1,367,400	−5.9%	4	$31.86	1.48%
		NEW	3,500	NEW	$1,132,000	NEW	1	unpriced	1.23%
AX	Axos Financial, Inc. Financial Services	NEW	20,000	NEW	$1,118,200	NEW	1	$55.94	1.21%
MYFW	First Western Financial Inc Financial Services	Added	36,818	+15,000	$1,117,794	+77.6%	2	$28.05	1.21%
INBK	First Internet Bancorp Financial Services	NEW	20,000	NEW	$940,800	NEW	1	$40.46	1.02%
C	Citigroup Inc Financial Services	NEW	10,000	NEW	$603,900	NEW	1	$66.49	0.65%
CBNK	Capital Bancorp Inc Financial Services	NEW	18,000	NEW	$471,600	NEW	1	$25.99	0.51%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.