Philadelphia Financial Management of San Francisco, LLC — 13F Holdings & Portfolio
CIK 1351407 · latest 13F-HR filed 2026-08-14
Philadelphia Financial Management of San Francisco, LLC manages $495.8M in 13F-reported U.S. long-equity assets across 45 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are IWM (15.15%), SPY (11.30%), USAU (3.54%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 30 new positions, exited 29, added to 7, and trimmed 4.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
SUITE 1500
SAN FRANCISCO, CA 94111
$495.8M
Long-equity book
45
Distinct positions
2026-06-30
Filed 2026-08-14
+30 / −29 / ↑7 / ↓4
vs 2026-03-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- ASP ISOTOPES INC$5.5M +191.5%
- GALLAGHER ARTHUR J & CO$4.2M +59.0%
- LEGACY HOUSING CORP$3.5M +40.7%
- U S GOLD CORP$2.8M +19.2%
- HAMILTON INSURANCE GROUP LTD$1.3M +19.5%
Top Trims
- AXIS CAP HLDGS LTD-$4.3M -28.7%
- CAVCO INDS INC DEL-$2.3M -29.5%
- TRIUMPH FINANCIAL INC-$353.3K -5.4%
- NEW FORTRESS ENERGY INC-$136.1K -38.5%
New Positions
- WILLIS LEASE FIN CORP$16.6M
- HARTFORD INSURANCE GROUP INC$15.7M
- CORECIVIC INC$14.6M
- FTAI AVIATION LTD$14.5M
- GEO GROUP INC$14.3M
Exited Positions
- TARGET HOSPITALITY CORP$15.0M
- HCI GROUP INC$14.8M
- BREAD FINANCIAL HOLDINGS INC$12.9M
- LINCOLN NATL CORP IND$10.1M
- PINNACLE FINL PARTNERS INC$10.0M
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | ISHARES TR Put | IWM | 464287655 | $75.1M | 15.15% | 250,000 | SH |
| 2 | STATE STR SPDR S&P 500 ETF T Put | SPY | 78462F103 | $56.0M | 11.30% | 75,000 | SH |
| 3 | U S GOLD CORP | USAU | 90291C201 | $17.6M | 3.54% | 1,145,546 | SH |
| 4 | WILLIS LEASE FIN CORP | WLFC | 970646105 | $16.6M | 3.36% | 72,763 | SH |
| 5 | HARTFORD INSURANCE GROUP INC | HIG | 416515104 | $15.7M | 3.17% | 118,700 | SH |
| 6 | CORECIVIC INC | CXW | 21871N101 | $14.6M | 2.94% | 479,235 | SH |
| 7 | FTAI AVIATION LTD | FTAI | G3730V105 | $14.5M | 2.91% | 53,419 | SH |
| 8 | GEO GROUP INC | GEO | 36162J106 | $14.3M | 2.89% | 484,100 | SH |
| 9 | AMERICAN INTL GROUP INC | AIG | 026874784 | $13.2M | 2.65% | 176,449 | SH |
| 10 | LEGACY HOUSING CORP | LEGH | 52472M101 | $11.9M | 2.41% | 454,425 | SH |
| 11 | GALLAGHER ARTHUR J & CO | AJG | 363576109 | $11.4M | 2.29% | 49,500 | SH |
| 12 | LGI HOMES INC | LGIH | 50187T106 | $11.2M | 2.25% | 175,175 | SH |
| 13 | AXIS CAP HLDGS LTD | AXS | G0692U109 | $10.7M | 2.16% | 99,564 | SH |
| 14 | CHUBB LIMITED | CB | H1467J104 | $10.3M | 2.08% | 30,300 | SH |
| 15 | EQUITABLE HLDGS INC | EQH | 29452E101 | $9.9M | 2.00% | 226,030 | SH |
| 16 | WABASH NATL CORP | WNC | 929566107 | $9.8M | 1.98% | 726,847 | SH |
| 17 | ATLANTICUS HOLDINGS CORP | ATLC | 04914Y102 | $9.2M | 1.85% | 89,597 | SH |
| 18 | GATX CORP | GATX | 361448103 | $8.9M | 1.80% | 50,500 | SH |
| 19 | CUSTOMERS BANCORP INC | CUBI | 23204G100 | $8.9M | 1.79% | 112,143 | SH |
| 20 | FAIR ISAAC CORP | FICO | 303250104 | $8.8M | 1.77% | 7,340 | SH |
| 21 | ASP ISOTOPES INC | ASPI | 00218A105 | $8.4M | 1.68% | 1,343,007 | SH |
| 22 | MIAMI INTL HLDGS INC | MIAX | 59356Q108 | $8.3M | 1.68% | 223,715 | SH |
| 23 | FIRSTCASH HOLDINGS INC | FCFS | 33768G107 | $8.0M | 1.62% | 37,100 | SH |
| 24 | HAMILTON INSURANCE GROUP LTD | HG | G42706104 | $8.0M | 1.60% | 234,448 | SH |
| 25 | STATE STR CORP | STT | 857477103 | $7.9M | 1.59% | 46,550 | SH |
| 26 | ARES MANAGEMENT CORPORATION | ARES | 03990B101 | $7.8M | 1.58% | 70,500 | SH |
| 27 | PAYPAY CORP | PAYP | 70450C101 | $7.4M | 1.49% | 515,121 | SH |
| 28 | EVERCORE INC | EVR | 29977A105 | $7.2M | 1.46% | 21,191 | SH |
| 29 | FIGURE TECHNOLOGY SOLUTIO | FIGR | 349381103 | $7.2M | 1.45% | 233,900 | SH |
| 30 | MERCURY GENL CORP NEW | MCY | 589400100 | $6.7M | 1.36% | 63,200 | SH |
| 31 | HANOVER INS GROUP INC | THG | 410867105 | $6.6M | 1.34% | 31,040 | SH |
| 32 | CHAMPION HOMES INC | SKY | 830830105 | $6.3M | 1.26% | 71,102 | SH |
| 33 | TRIUMPH FINANCIAL INC | TFIN | 89679E300 | $6.2M | 1.26% | 81,781 | SH |
| 34 | JEFFERSON CAPITAL INC | JCAP | 47248R103 | $6.2M | 1.24% | 316,853 | SH |
| 35 | MORGAN STANLEY | MS | 617446448 | $5.9M | 1.20% | 28,400 | SH |
| 36 | ENOVA INTL INC | ENVA | 29357K103 | $5.9M | 1.18% | 24,355 | SH |
| 37 | BARCLAYS PLC | BCS | 06738E204 | $5.6M | 1.12% | 207,000 | SH |
| 38 | WEBULL CORP | BULL | G9572D103 | $5.5M | 1.12% | 850,500 | SH |
| 39 | CAVCO INDS INC DEL | CVCO | 149568107 | $5.4M | 1.09% | 8,810 | SH |
| 40 | CAMECO CORP | CCJ | 13321L108 | $4.6M | 0.93% | 45,300 | SH |
| 41 | FERMI INC | FRMI | 314911108 | $3.9M | 0.79% | 425,000 | SH |
| 42 | ACV AUCTIONS INC | ACVA | 00091G104 | $3.7M | 0.74% | 511,900 | SH |
| 43 | SKYLINE BLDRS GROUP HLDG LTD | KAZR | G8193D104 | $3.2M | 0.65% | 1,037,286 | SH |
| 44 | DOMINARI HOLDINGS INC | DOMH | 008875304 | $1.1M | 0.23% | 358,183 | SH |
| 45 | NEW FORTRESS ENERGY INC | NFE | 644393100 | $217.9K | 0.04% | 600,000 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | $495.8M | 45 | 0001214659-26-010380 |
| 2026-03-31 | 2026-05-14 | $345.5M | 43 | 0001214659-26-006198 |
| 2025-12-31 | 2026-02-17 | $931.8M | 58 | 0001214659-26-001977 |
| 2025-09-30 | 2025-11-14 | $892.4M | 60 | 0001214659-25-016632 |