Philadelphia Financial Management of San Francisco, LLC
Annual return '25
+5.0%
SPY '25
+17.7%
Alpha
-12.7ptsvs SPY
Invested
$345.5M
Holdings
43
Trades YTD
0
Performance · Fund vs SPY
Cumulative return · quarterly snapshotsCoverage 97%. 4 quarters of 2025 measured against SPY adj-close benchmark.
Top holdings · current snapshot
Source: 13F-HR01
$GS
GOLDMAN SACHS GROUP INC
Q4 2025: Sold 98.8% (50.0k → 600 shares)
9.7%
02
$AXS
AXIS CAP HLDGS LTD
Q4 2025: Exited (was 124.6k shares)
4.3%
03
$TH
TARGET HOSPITALITY CORP
Q4 2025: Exited (was 2.50M shares)
4.3%
04
$HCI
HCI GROUP INC
Q3 2025: Exited (was 43.2k shares)
4.3%
05
$USAU
U S GOLD CORP
Q4 2025: Exited (was 857.7k shares)
4.3%
06
$BFH
BREAD FINANCIAL HOLDINGS INC
Held since at least Q1 2024
3.7%
07
$AIG
AMERICAN INTL GROUP INC
Held since at least Q1 2024
3.6%
08
$LNC
LINCOLN NATL CORP IND
Held since at least Q1 2024
2.9%
09
$PNFP
PINNACLE FINL PARTNERS INC
Held since at least Q1 2024
2.9%
10
$EZPW
EZCORP INC
Q1 2025: Exited (was 910.8k shares)
2.7%
Recent trades · Last 90 days
No Form 4 / 13D / 13G trade events on file in the recent window. 13F filers report position snapshots quarterly rather than per-trade events, so this section is most useful for managers who also file Form 4 or 13D/G.
Convergence · Pattern Engine ships in v1.1
30-day windowIn development
Convergence participation lands with the Pattern Engine.
Once the Pattern Engine ships, this section will list every active convergence event this fund is named in — with the other named funds, the Congress members on the same name, and combined position size.
Source data: SEC EDGAR · 13F-HR filings · Performance through 2025-12-31 · Last refreshed 12:15 UTC.