Philadelphia Financial Management of San Francisco
SAN FRANCISCO, CAfiles as Philadelphia Financial Management of San Francisco, LLC
$365m in 43 US stocks at the end of 30 June 2026. The top 10 are 38.6% of the money. It changed about 71.9% of the portfolio this quarter.
Value
$365m
Stocks
43
Top 10 share
38.6%
Turnover
71.9%
What changed this quarter
New
Bought for the first time this quarter.
- Willis Lease FinanceWLFC4.6% of the fund
- Hartford Insurance GroupHIG4.3% of the fund
- CoreCivicCXW4.0% of the fund
- FTAI AviationFTAI4.0% of the fund
- GEO GroupGEO3.9% of the fund
- LGI HomesLGIH3.1% of the fund
- ChubbCB2.8% of the fund
- Equitable HoldingsEQH2.7% of the fund
- Wabash NationalWNC2.7% of the fund
- Atlanticus HoldingsATLC2.5% of the fund
- Fair IsaacFICO2.4% of the fund
- Miami International HoldingsMIAX2.3% of the fund
- FirstCash HoldingsFCFS2.2% of the fund
- State StreetSTT2.2% of the fund
- Ares ManagementARES2.2% of the fund
- PayPayPAYP2.0% of the fund
- EvercoreEVR2.0% of the fund
- Figure Technology SolutionsFIGR2.0% of the fund
- Mercury GeneralMCY1.8% of the fund
- Hanover Insurance GroupTHG1.8% of the fund
- Champion HomesSKY1.7% of the fund
- Jefferson CapitalJCAP1.7% of the fund
- Morgan StanleyMS1.6% of the fund
- Enova InternationalENVA1.6% of the fund
- BarclaysBCS1.5% of the fund
Added
Bought more of a stock they already held.
- U.S. GoldUSAU4.8% of the fund+18%
- American International GroupAIG3.6% of the fund+7%
- Legacy HousingLEGH3.3% of the fund+9%
- Arthur J. GallagherAJG3.1% of the fund+50%
- ASP IsotopesASPI2.3% of the fund+107%
- Hamilton Insurance GroupHG2.2% of the fund+5%
- Skyline Builders Group HoldingKAZR0.9% of the fund+57%
Cut
Sold some of their stake.
- Axis Capital HoldingsAXS2.9% of the fund-33%
- Customers BancorpCUBI2.4% of the fund-10%
- Triumph FinancialTFIN1.7% of the fund-26%
- Cavco IndustriesCVCO1.5% of the fund-44%
Sold out
Sold their entire stake.
- Target HospitalityTH-100%
- HCI GroupHCI-100%
- Bread Financial HoldingsBFH-100%
- Lincoln NationalLNC-100%
- Pinnacle Financial PartnersPNFP-100%
- EzcorpEZPW-100%
- OpenlaneOPLN-100%
- AonAON-100%
- AerCap HoldingsAER-100%
- Bank of HawaiiBOH-100%
- East West BancorpEWBC-100%
- Stifel FinancialSF-100%
- Mechanics BancorpMCHB-100%
- MastercardMA-100%
- Axos FinancialAX-100%
- Sable OffshoreSOC-100%
- Credit AcceptanceCACC-100%
- PopularBPOP-100%
- BKVBKV-100%
- PennyMac Financial ServicesPFSI-100%
- Golar LNGGLNG-100%
- Robinhood MarketsHOOD-100%
- Jackson FinancialJXN-100%
- Slide Insurance HoldingsSLDE-100%
- MediaAlphaMAX-100%
Holdings
- CamecoCCJ
- Share
- 1.3%
- Value
- $5m
- Shares
- 45,300
New
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| U.S. GoldUSAU | 4.8% | $18m | 1,145,546 | +18% |
| Willis Lease FinanceWLFC | 4.6% | $17m | 72,763 | New |
| Hartford Insurance GroupHIG | 4.3% | $16m | 118,700 | New |
| CoreCivicCXW | 4.0% | $15m | 479,235 | New |
| FTAI AviationFTAI | 4.0% | $14m | 53,419 | New |
| GEO GroupGEO | 3.9% | $14m | 484,100 | New |
| American International GroupAIG | 3.6% | $13m | 176,449 | +7% |
| Legacy HousingLEGH | 3.3% | $12m | 454,425 | +9% |
| Arthur J. GallagherAJG | 3.1% | $11m | 49,500 | +50% |
| LGI HomesLGIH | 3.1% | $11m | 175,175 | New |
| Axis Capital HoldingsAXS | 2.9% | $11m | 99,564 | -33% |
| ChubbCB | 2.8% | $10m | 30,300 | New |
| Equitable HoldingsEQH | 2.7% | $10m | 226,030 | New |
| Wabash NationalWNC | 2.7% | $10m | 726,847 | New |
| Atlanticus HoldingsATLC | 2.5% | $9m | 89,597 | New |
| GatxGATX | 2.5% | $9m | 50,500 | Held |
| Customers BancorpCUBI | 2.4% | $9m | 112,143 | -10% |
| Fair IsaacFICO | 2.4% | $9m | 7,340 | New |
| ASP IsotopesASPI | 2.3% | $8m | 1,343,007 | +107% |
| Miami International HoldingsMIAX | 2.3% | $8m | 223,715 | New |
| FirstCash HoldingsFCFS | 2.2% | $8m | 37,100 | New |
| Hamilton Insurance GroupHG | 2.2% | $8m | 234,448 | +5% |
| State StreetSTT | 2.2% | $8m | 46,550 | New |
| Ares ManagementARES | 2.2% | $8m | 70,500 | New |
| PayPayPAYP | 2.0% | $7m | 515,121 | New |
| EvercoreEVR | 2.0% | $7m | 21,191 | New |
| Figure Technology SolutionsFIGR | 2.0% | $7m | 233,900 | New |
| Mercury GeneralMCY | 1.8% | $7m | 63,200 | New |
| Hanover Insurance GroupTHG | 1.8% | $7m | 31,040 | New |
| Champion HomesSKY | 1.7% | $6m | 71,102 | New |
| Triumph FinancialTFIN | 1.7% | $6m | 81,781 | -26% |
| Jefferson CapitalJCAP | 1.7% | $6m | 316,853 | New |
| Morgan StanleyMS | 1.6% | $6m | 28,400 | New |
| Enova InternationalENVA | 1.6% | $6m | 24,355 | New |
| BarclaysBCS | 1.5% | $6m | 207,000 | New |
| WebullBULL | 1.5% | $6m | 850,500 | New |
| Cavco IndustriesCVCO | 1.5% | $5m | 8,810 | -44% |
| CamecoCCJ | 1.3% | $5m | 45,300 | New |
| FermiFRMI | 1.1% | $4m | 425,000 | New |
| ACV AuctionsACVA | 1.0% | $4m | 511,900 | New |
| Skyline Builders Group HoldingKAZR | 0.9% | $3m | 1,037,286 | +57% |
| Dominari HoldingsDOMH | 0.3% | $1m | 358,183 | New |
| New Fortress EnergyNFE | <0.1% | $217,860 | 600,000 | Held |
Options (2)
- Ishares TRIWM
- Type
- Put
- Value
- $75m
- Contracts
- 250,000
- State STR Spdr S&P 500 ETF TSPY
- Type
- Put
- Value
- $56m
- Contracts
- 75,000
| Company | Type | Value | Contracts |
|---|---|---|---|
| Ishares TRIWM | Put | $75m | 250,000 |
| State STR Spdr S&P 500 ETF TSPY | Put | $56m | 75,000 |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 19.2% since 30 June 2025.
Where the money is
Financial services53.1%
Materials14.8%
Retail & consumer9.7%
Technology9.4%
Industrials7.9%
Real estate5.1%
Utilities0.1%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.