Philadelphia Financial Management of San Francisco, LLC
Net seller this quarter
$496M
43
-$748K
28.4%
Holdings
| Company | Value | % of portfolio | % of company | POSITION CHANGE qoq % | First reported |
|---|---|---|---|---|---|
| Q2 2026 | |||||
 USAU | $17.6M | 3.54% | 6.93% | +18.1% | Q1 2025 |
 WLFC | $16.6M | 3.36% | 1.03% | Not reported | Q3 2020 |
 HIG | $15.7M | 3.17% | 0.04% | Not reported | Q1 2014 |
 CXW | $14.6M | 2.94% | 0.48% | Not reported | Q4 2016 |
 FTAI | $14.5M | 2.91% | 0.05% | Not reported | Q4 2022 |
 GEO | $14.3M | 2.89% | 0.37% | Not reported | Q3 2016 |
 AIG | $13.2M | 2.65% | 0.03% | +6.9% | Q4 2013 |
 LEGH | $11.9M | 2.41% | 1.91% | +9.5% | Q4 2018 |
 AJG | $11.4M | 2.29% | 0.02% | +50.0% | Q4 2013 |
 LGIH | $11.2M | 2.25% | 0.75% | Not reported | Q4 2013 |
 AXS | $10.7M | 2.16% | 0.14% | -32.7% | Q3 2014 |
 CB | $10.3M | 2.08% | 0.01% | Not reported | Q2 2015 |
| EQH | $9.92M | 2.00% | 0.08% | Not reported | Q1 2020 |
 WNC | $9.81M | 1.98% | 1.78% | New | Q2 2026 |
 ATLC | $9.16M | 1.85% | Not reported | New | Q2 2026 |
 GATX | $8.95M | 1.80% | 0.14% | -0.6% | Q2 2025 |
 CUBI | $8.87M | 1.79% | 0.33% | -9.6% | Q3 2023 |
 FICO | $8.77M | 1.77% | 0.03% | New | Q2 2026 |
 ASPI | $8.35M | 1.68% | 1.03% | +107.2% | Q2 2024 |
 MIAX | $8.31M | 1.68% | 0.23% | New | Q2 2026 |
 FCFS | $8.03M | 1.62% | 0.08% | Not reported | Q1 2022 |
 HG | $7.96M | 1.60% | 0.24% | +5.0% | Q4 2023 |
 STT | $7.89M | 1.59% | 0.02% | New | Q2 2026 |
 ARES | $7.85M | 1.58% | 0.02% | Not reported | Q4 2023 |
 PAYP | $7.38M | 1.49% | 0.08% | New | Q2 2026 |
 EVR | $7.24M | 1.46% | Not reported | Not reported | Q2 2019 |
 FIGR | $7.18M | 1.45% | Not reported | Not reported | Q3 2025 |
 MCY | $6.74M | 1.36% | 0.11% | Not reported | Q2 2019 |
 THG | $6.65M | 1.34% | 0.09% | Not reported | Q2 2025 |
| SKY | $6.27M | 1.26% | 0.13% | Not reported | Q3 2025 |
 TFIN | $6.24M | 1.26% | 0.34% | -26.0% | Q4 2014 |
 JCAP | $6.17M | 1.24% | 0.55% | New | Q2 2026 |
 MS | $5.94M | 1.20% | 0.00% | Not reported | Q2 2013 |
 ENVA | $5.86M | 1.18% | 0.10% | Not reported | Q1 2022 |
 BCS | $5.56M | 1.12% | 0.00% | Not reported | Q2 2025 |
 BULL | $5.55M | 1.12% | Not reported | New | Q2 2026 |
 CVCO | $5.41M | 1.09% | 0.11% | -44.4% | Q1 2026 |
 CCJ | $4.61M | 0.93% | 0.01% | Not reported | Q4 2022 |
 FRMI | $3.89M | 0.79% | 0.07% | Not reported | Q4 2025 |
 ACVA | $3.68M | 0.74% | 0.30% | Not reported | Q1 2021 |
| KAZR | $3.21M | 0.65% | Not reported | +57.1% | Q3 2025 |
 DOMH | $1.12M | 0.23% | 1.48% | New | Q2 2026 |
 NFE | $218K | 0.04% | 0.21% | Not reported | Q4 2024 |
| Q1 2026 | |||||
| AXS | $15M | 4.34% | 0.20% | Not reported | Q3 2014 |
 TH | $15M | 4.34% | 1.61% | -51.1% | Q1 2023 |
 HCI | $14.8M | 4.30% | 0.74% | -40.0% | Q1 2021 |
| USAU | $14.7M | 4.26% | 5.88% | -19.8% | Q1 2025 |
 BFH | $12.9M | 3.73% | 0.42% | -10.3% | Q1 2016 |
| AIG | $12.4M | 3.59% | 0.03% | -24.8% | Q4 2013 |
 LNC | $10.1M | 2.93% | 0.15% | Not reported | Q4 2014 |
 PNFP | $9.96M | 2.88% | 0.08% | -43.9% | Q1 2019 |
 EZPW | $9.43M | 2.73% | Not reported | -48.4% | Q3 2017 |
 OPLN | $9.38M | 2.72% | 0.30% | Not reported | Q1 2019 |
 AON | $9.04M | 2.62% | 0.01% | Not reported | Q3 2013 |
 AER | $8.81M | 2.55% | 0.04% | Not reported | Q2 2013 |
 BOH | $8.74M | 2.53% | 0.30% | New | Q1 2026 |
 EWBC | $8.71M | 2.52% | 0.06% | Not reported | Q1 2022 |
| GATX | $8.68M | 2.51% | 0.14% | -26.2% | Q2 2025 |
| CUBI | $8.61M | 2.49% | 0.37% | -23.5% | Q3 2023 |
| LEGH | $8.48M | 2.45% | 1.75% | +209.3% | Q4 2018 |
 SF | $8.38M | 2.43% | 0.07% | Not reported | Q4 2018 |
 MCHB | $8.04M | 2.33% | 2.88% | -58.7% | Q1 2015 |
| CVCO | $7.68M | 2.22% | 0.20% | New | Q1 2026 |
 MA | $7.59M | 2.20% | 0.00% | Not reported | Q2 2022 |
 AX | $7.5M | 2.17% | 0.16% | New | Q1 2026 |
| SOC | $7.5M | 2.17% | 0.30% | +38.3% | Q1 2025 |
| AJG | $7.15M | 2.07% | 0.01% | Not reported | Q4 2013 |
 CACC | $7M | 2.03% | 0.16% | Not reported | Q1 2025 |
| HG | $6.66M | 1.93% | 0.22% | -54.9% | Q4 2023 |
| TFIN | $6.59M | 1.91% | 0.46% | Not reported | Q4 2014 |
 BPOP | $6.51M | 1.88% | 0.08% | Not reported | Q4 2013 |
 BKV | $6.13M | 1.77% | 0.20% | New | Q1 2026 |
 PFSI | $6.06M | 1.75% | 0.13% | +58.4% | Q3 2014 |
 GLNG | $5.92M | 1.71% | 0.11% | Not reported | Q1 2024 |
 HOOD | $5.47M | 1.58% | 0.03% | 0.0% | Q2 2023 |
 JXN | $5.29M | 1.53% | 0.07% | New | Q1 2026 |
 SLDE | $5.04M | 1.46% | 0.24% | Not reported | Q3 2025 |
 MAX | $4.46M | 1.29% | Not reported | Not reported | Q4 2022 |
| ASPI | $2.87M | 0.83% | 0.52% | Not reported | Q2 2024 |
 ALM | $2.1M | 0.61% | 0.06% | New | Q1 2026 |
| KAZR | $2.04M | 0.59% | Not reported | +8.4% | Q3 2025 |
| NFE | $354K | 0.10% | 0.21% | +185.8% | Q4 2024 |
 AZ | $354K | 0.10% | 0.12% | -91.5% | Q1 2025 |
 LDI | $345K | 0.10% | Not reported | Not reported | Q1 2025 |
| NODK | $190K | 0.06% | 0.07% | -90.6% | Q4 2024 |
| Q4 2025 | |||||
| HCI | $30.7M | 3.29% | 1.23% | Not reported | Q1 2021 |
| TH | $26.5M | 2.84% | 3.31% | +32.3% | Q1 2023 |
| USAU | $23.5M | 2.52% | 8.41% | +41.0% | Q1 2025 |
 GM | $20.7M | 2.22% | 0.03% | Not reported | Q3 2014 |
| PNFP | $19.7M | 2.11% | 0.26% | Not reported | Q1 2019 |
| MCHB | $19.3M | 2.07% | 6.97% | -12.3% | Q1 2015 |
| AIG | $18.8M | 2.01% | 0.04% | Not reported | Q4 2013 |
 XZO | $17.2M | 1.85% | 0.78% | New | Q4 2025 |
 DB | $16.8M | 1.81% | 0.02% | +4.9% | Q3 2025 |
| BFH | $14.2M | 1.52% | 0.44% | Not reported | Q1 2016 |
| EZPW | $14M | 1.50% | Not reported | Not reported | Q3 2017 |
| HG | $13.8M | 1.48% | 0.50% | -15.3% | Q4 2023 |
| HIG | $13.7M | 1.47% | 0.04% | Not reported | Q1 2014 |
 BWIN | $13.4M | 1.43% | 1.64% | Not reported | Q4 2019 |
 TREE | $13.3M | 1.43% | 1.83% | New | Q4 2025 |
| SKY | $13.1M | 1.41% | 0.28% | -18.3% | Q3 2025 |
 AFG | $12.5M | 1.34% | 0.11% | +48.4% | Q1 2019 |
 XYZ | $12M | 1.28% | Not reported | Not reported | Q4 2015 |
| CUBI | $11.9M | 1.27% | 0.47% | -39.0% | Q3 2023 |
| GATX | $11.7M | 1.25% | 0.19% | +9.7% | Q2 2025 |
 KKR | $10M | 1.07% | 0.01% | +131.8% | Q4 2023 |
 TPG | $9.94M | 1.07% | Not reported | -2.1% | Q3 2025 |
 FUTU | $9.85M | 1.06% | 0.01% | -34.5% | Q3 2025 |
 CARS | $9.17M | 0.98% | 1.28% | Not reported | Q3 2018 |
 TOST | $9.16M | 0.98% | 0.12% | Not reported | Q4 2023 |
| HOOD | $8.92M | 0.96% | 0.03% | -36.9% | Q2 2023 |
 OZK | $8.71M | 0.93% | Not reported | New | Q4 2025 |
| ENVA | $7.91M | 0.85% | 0.20% | Not reported | Q1 2022 |
 ARR | $7.69M | 0.83% | 0.39% | -39.3% | Q3 2025 |
 COF | $6.7M | 0.72% | 0.00% | Not reported | Q2 2017 |
 ONEW | $6.65M | 0.71% | 61460.50% | -31.7% | Q1 2020 |
 NNI | $6.24M | 0.67% | Not reported | Not reported | Q2 2013 |
 COLB | $6.02M | 0.65% | 0.07% | -37.0% | Q3 2025 |
| PFSI | $5.77M | 0.62% | 0.08% | -80.8% | Q3 2014 |
| FRMI | $5.42M | 0.58% | 0.11% | New | Q4 2025 |
 BLSH | $4.73M | 0.51% | 0.08% | +614.3% | Q3 2025 |
 SUNS | $4.16M | 0.45% | 3.28% | -10.3% | Q1 2025 |
| AZ | $4.07M | 0.44% | 1.42% | -66.4% | Q1 2025 |
 NP | $3.65M | 0.39% | 0.13% | New | Q4 2025 |
| SOC | $2.96M | 0.32% | 0.23% | Not reported | Q1 2025 |
| LEGH | $2.62M | 0.28% | 0.56% | Not reported | Q4 2018 |
 PAR | $2.51M | 0.27% | 0.17% | Not reported | Q3 2020 |
| NODK | $2.1M | 0.23% | 0.77% | +3.3% | Q4 2024 |
| KAZR | $1.79M | 0.19% | Not reported | +839.4% | Q3 2025 |
 TNGX | $295K | 0.03% | 0.02% | New | Q4 2025 |
| NFE | $239K | 0.03% | 0.07% | -41.7% | Q4 2024 |
| Q3 2025 | |||||
| PFSI | $28.2M | 3.16% | 0.44% | Not reported | Q3 2014 |
| SLDE | $26.4M | 2.96% | 1.35% | New | Q3 2025 |
| TH | $21.2M | 2.37% | 2.50% | +24.2% | Q1 2023 |
| MCHB | $20M | 2.24% | 7.95% | -2.7% | Q1 2015 |
 PGR | $19.1M | 2.14% | 0.01% | Not reported | Q4 2014 |
 SIGI | $18.2M | 2.03% | 0.37% | New | Q3 2025 |
| HOOD | $17.9M | 2.01% | 0.05% | Not reported | Q2 2023 |
| CUBI | $17.4M | 1.95% | 0.78% | -1.4% | Q3 2023 |
| ASPI | $16M | 1.79% | 1.78% | -37.8% | Q2 2024 |
| FUTU | $15.9M | 1.79% | 0.02% | New | Q3 2025 |
 MP | $15M | 1.68% | 0.13% | -15.9% | Q2 2025 |
| AZ | $14.9M | 1.67% | 6.29% | +81.6% | Q1 2025 |
| DB | $14.7M | 1.65% | 0.02% | New | Q3 2025 |
| SKY | $14.5M | 1.63% | 0.34% | New | Q3 2025 |
| HG | $14.5M | 1.63% | 0.59% | +147.0% | Q4 2023 |
| ONEW | $14.2M | 1.60% | 89932.40% | +14.2% | Q1 2020 |
| USAU | $14.1M | 1.58% | 5.97% | +24.6% | Q1 2025 |
 ALL | $14.1M | 1.58% | 0.03% | -30.1% | Q1 2015 |
 BOW | $14.1M | 1.58% | 1.59% | +220.5% | Q2 2025 |
| CXW | $12.9M | 1.45% | 0.60% | -16.2% | Q4 2016 |
 FNF | $12.6M | 1.42% | 0.08% | Not reported | Q2 2021 |
| AXS | $11.9M | 1.34% | 0.16% | Not reported | Q3 2014 |
 JEF | $11.9M | 1.33% | 0.09% | New | Q3 2025 |
| GATX | $11M | 1.23% | 0.18% | -34.8% | Q2 2025 |
| ARR | $10.7M | 1.20% | 0.64% | New | Q3 2025 |
| BPOP | $9.72M | 1.09% | 0.11% | Not reported | Q4 2013 |
| TPG | $9.13M | 1.02% | Not reported | New | Q3 2025 |
| AFG | $9M | 1.01% | 0.07% | Not reported | Q1 2019 |
| COLB | $8.8M | 0.99% | 0.11% | New | Q3 2025 |
 MHO | $8.47M | 0.95% | 0.22% | +8.2% | Q4 2022 |
 PLMR | $6.52M | 0.73% | 0.21% | Not reported | Q4 2023 |
| BCS | $6.42M | 0.72% | 0.00% | -24.1% | Q2 2025 |
| FIGR | $5.46M | 0.61% | Not reported | New | Q3 2025 |
 EVER | $5.4M | 0.60% | Not reported | Not reported | Q4 2020 |
| SUNS | $5.1M | 0.57% | 3.66% | -19.5% | Q1 2025 |
 DYNC | $4.92M | 0.55% | Not reported | New | Q3 2025 |
| KKR | $4.41M | 0.49% | 0.00% | Not reported | Q4 2023 |
 AII | $4.27M | 0.48% | 0.98% | New | Q3 2025 |
 SII | $2.24M | 0.25% | 0.10% | -77.1% | Q4 2021 |
 CYTK | $2.17M | 0.24% | 0.03% | New | Q3 2025 |
| NODK | $2.07M | 0.23% | 0.74% | +1.6% | Q4 2024 |
 MBI | $1.58M | 0.18% | 0.42% | Not reported | Q3 2015 |
| BLSH | $1.11M | 0.12% | Not reported | New | Q3 2025 |
| NFE | $795K | 0.09% | 0.13% | -10.1% | Q4 2024 |
| KAZR | $222K | 0.02% | Not reported | New | Q3 2025 |