Philadelphia Financial Management of San Francisco, LLC 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Philadelphia Financial Management of San Francisco, LLC disclosed 46 US equity positions worth $484.0m in its Q4 2025 13F filing. The largest position was HCI at 6.3% of the reported book, followed by TH and USAU. Against the Q3 2025 filing, it opened 23 new positions, added to 9 and reduced 14 among the top 46 holdings.
What did Philadelphia Financial Management of San Francisco, LLC own in Q4 2025? Top 46 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | HCI HCI GROUP INC | Financial Services | 6.3% | $30.7m | 160,000 | – | new |
| 2 | TH TARGET HOSPITALITY CORP | Industrials | 5.5% | $26.5m | 3,304,424 | 32% | added |
| 3 | USAU U S GOLD CORP | 4.9% | $23.5m | 1,209,624 | 41% | added | |
| 4 | GM GENERAL MTRS CO | Consumer Cyclical | 4.3% | $20.7m | 254,590 | – | new |
| 5 | PINNACLE FINL PARTNERS INC | 4.1% | $19.7m | 206,171 | – | new | |
| 6 | MCHB MECHANICS BANCORP | Financial Services | 4.0% | $19.3m | 1,319,486 | -12% | reduced |
| 7 | AIG AMERICAN INTL GROUP INC | Financial Services | 3.9% | $18.8m | 219,361 | – | new |
| 8 | XZO EXZEO GROUP INC | 3.6% | $17.2m | 710,000 | – | new | |
| 9 | DEUTSCHE BANK A G | 3.5% | $16.8m | 436,262 | 5% | added | |
| 10 | BFH BREAD FINANCIAL HOLDINGS INC | Financial Services | 2.9% | $14.2m | 191,939 | – | new |
| 11 | EZPW EZCORP INC | Financial Services | 2.9% | $14.0m | 719,529 | – | new |
| 12 | HG HAMILTON INSURANCE GROUP LTD | Financial Services | 2.9% | $13.8m | 495,283 | -15% | reduced |
| 13 | HIG HARTFORD INSURANCE GROUP INC | Financial Services | 2.8% | $13.7m | 99,471 | – | new |
| 14 | BWIN THE BALDWIN INSURANCE GRP IN | Financial Services | 2.8% | $13.4m | 556,299 | – | new |
| 15 | TREE LENDINGTREE INC NEW | Financial Services | 2.8% | $13.3m | 251,459 | – | new |
| 16 | SKY CHAMPION HOMES INC | Consumer Cyclical | 2.7% | $13.1m | 155,425 | -18% | reduced |
| 17 | AFG AMERICAN FINL GROUP INC OHIO | Financial Services | 2.6% | $12.5m | 91,610 | 48% | added |
| 18 | XYZ BLOCK INC | Technology | 2.5% | $12.0m | 183,743 | – | new |
| 19 | CUBI CUSTOMERS BANCORP INC | Financial Services | 2.4% | $11.9m | 162,129 | -39% | reduced |
| 20 | GATX GATX CORP | Industrials | 2.4% | $11.7m | 68,837 | 10% | added |
| 21 | KKR KKR & CO INC | Financial Services | 2.1% | $10.0m | 78,563 | 132% | added |
| 22 | TPG TPG INC | Financial Services | 2.1% | $9.9m | 155,699 | -2% | reduced |
| 23 | FUTU FUTU HLDGS LTD | Financial Services | 2.0% | $9.9m | 60,000 | -35% | reduced |
| 24 | CARS CARS COM INC | Communication Services | 1.9% | $9.2m | 751,671 | – | new |
| 25 | TOST TOAST INC | Technology | 1.9% | $9.2m | 257,848 | – | new |
| 26 | HOOD ROBINHOOD MKTS INC | Financial Services | 1.8% | $8.9m | 78,889 | -37% | reduced |
| 27 | OZK BANK OZK LITTLE ROCK ARK | Financial Services | 1.8% | $8.7m | 189,226 | – | new |
| 28 | ENVA ENOVA INTL INC | Financial Services | 1.6% | $7.9m | 50,311 | – | new |
| 29 | ARMOUR RESIDENTIAL REIT INC | 1.6% | $7.7m | 434,709 | -39% | reduced | |
| 30 | COF CAPITAL ONE FINL CORP | Financial Services | 1.4% | $6.7m | 27,643 | – | new |
| 31 | ONEW ONEWATER MARINE INC | 1.4% | $6.7m | 614,605 | -32% | reduced | |
| 32 | NNI NELNET INC | Financial Services | 1.3% | $6.2m | 46,910 | – | new |
| 33 | COLB COLUMBIA BKG SYS INC | Financial Services | 1.2% | $6.0m | 215,468 | -37% | reduced |
| 34 | PFSI PENNYMAC FINL SVCS INC NEW | Financial Services | 1.2% | $5.8m | 43,787 | -81% | reduced |
| 35 | FRMI FERMI INC | Real Estate | 1.1% | $5.4m | 677,866 | – | new |
| 36 | BLSH BULLISH | 1.0% | $4.7m | 125,000 | 614% | added | |
| 37 | SUNS SUNRISE RLTY TR INC | 0.9% | $4.2m | 440,628 | -10% | reduced | |
| 38 | AZ A2Z CUST2MATE SOLUTIONS CORP | 0.8% | $4.1m | 625,352 | -66% | reduced | |
| 39 | NP NEPTUNE INS HLDGS INC | 0.8% | $3.6m | 125,000 | – | new | |
| 40 | SOC SABLE OFFSHORE CORP | 0.6% | $3.0m | 328,081 | – | new | |
| 41 | LEGH LEGACY HOUSING CORP | 0.5% | $2.6m | 134,227 | – | new | |
| 42 | PAR PAR TECHNOLOGY CORP | Technology | 0.5% | $2.5m | 69,100 | – | new |
| 43 | NODK NI HLDGS INC | 0.4% | $2.1m | 157,719 | 3% | added | |
| 44 | SKYLINE BLDRS GROUP HLDG LTD | 0.4% | $1.8m | 608,753 | 839% | added | |
| 45 | TNGX TANGO THERAPEUTICS INC | Healthcare | 0.1% | $295.0k | 33,291 | – | new |
| 46 | NFE NEW FORTRESS ENERGY INC | Energy | 0.0% | $239.4k | 209,964 | -42% | reduced |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.