Q3 2025 · 13F-HR
Philadelphia Financial Management of San Francisco, LLCholdings as filed
Filed 2025-11-14 · accession 0001214659-25-016632
$892.4M
Reported value
60
Positions
2025-09-30
Period end
The Brief · Philadelphia Financial Management of San Francisco, LLC · Q3 2025
AI · grounded in 13F
Philadelphia Financial Management of San Francisco, LLC established a new position in Circle Internet Group Inc CRCL valued at $74.9M. The fund also initiated new stakes in Coinbase Global Inc COIN for $55.7M and iShares Tr IWM for $48.4M. Other new additions include Goldman Sachs Group Inc GS at $39.8M and Palantir Technologies Inc PLTR at $36.5M. The fund ended the period with 55 positions and total AUM of $892.4M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 172573107 | CRCL | CIRCLE INTERNET GROUP INC | $74.9M | 8.39% | 565,000 | PUT | SOLE |
| 19260Q107 | COIN | COINBASE GLOBAL INC | $55.7M | 6.24% | 165,000 | PUT | SOLE |
| 464287655 | IWM | ISHARES TR | $48.4M | 5.42% | 200,000 | PUT | SOLE |
| 38141G104 | GS | GOLDMAN SACHS GROUP INC | $39.8M | 4.46% | 50,000 | PUT | SOLE |
| 69608A108 | PLTR | PALANTIR TECHNOLOGIES INC | $36.5M | 4.09% | 200,000 | PUT | SOLE |
| 70932M107 | PFSI | PENNYMAC FINL SVCS INC NEW | $28.2M | 3.16% | 227,772 | Common | SOLE |
| 831349105 | SLDE | SLIDE INS HLDGS INC | $26.4M | 2.96% | 1,674,429 | Common | SOLE |
| G3223R108 | EG | EVEREST GROUP LTD | $26.3M | 2.94% | 75,000 | CALL | SOLE |
| 87422Q109 | TLN | TALEN ENERGY CORP | $21.3M | 2.38% | 50,000 | PUT | SOLE |
| 87615L107 | TH | TARGET HOSPITALITY CORP | $21.2M | 2.37% | 2,497,669 | Common | SOLE |
| 43785V102 | MCHB | MECHANICS BANCORP | $20.0M | 2.24% | 1,503,724 | Common | SOLE |
| 743315103 | PGR | PROGRESSIVE CORP | $19.1M | 2.14% | 77,239 | Common | SOLE |
| 816300107 | SIGI | SELECTIVE INS GROUP INC | $18.2M | 2.03% | 223,959 | Common | SOLE |
| 770700102 | HOOD | ROBINHOOD MKTS INC | $17.9M | 2.01% | 125,000 | Common | SOLE |
| 23204G100 | CUBI | CUSTOMERS BANCORP INC | $17.4M | 1.95% | 265,645 | Common | SOLE |
| 00218A105 | ASPI | ASP ISOTOPES INC | $16.0M | 1.79% | 1,661,494 | Common | SOLE |
| 36118L106 | FUTU | FUTU HLDGS LTD | $15.9M | 1.79% | 91,610 | Common | SOLE |
| 398905109 | GPI | GROUP 1 AUTOMOTIVE INC | $15.3M | 1.72% | 35,000 | PUT | SOLE |
| 553368101 | MP | MP MATERIALS CORP | $15.0M | 1.68% | 223,062 | Common | SOLE |
| 002205102 | AZ | A2Z CUST2MATE SOLUTIONS CORP | $14.9M | 1.67% | 1,861,046 | Common | SOLE |
| 36118L106 | FUTU | FUTU HLDGS LTD | $14.8M | 1.66% | 85,000 | PUT | SOLE |
| D18190898 | DB | DEUTSCHE BANK A G | $14.7M | 1.65% | 415,962 | Common | SOLE |
| 830830105 | SKY | CHAMPION HOMES INC | $14.5M | 1.63% | 190,241 | Common | SOLE |
| G42706104 | HG | HAMILTON INSURANCE GROUP LTD | $14.5M | 1.63% | 584,846 | Common | SOLE |
| 770700102 | HOOD | ROBINHOOD MKTS INC | $14.3M | 1.60% | 100,000 | PUT | SOLE |
| 68280L101 | ONEW | ONEWATER MARINE INC | $14.2M | 1.60% | 899,324 | Common | SOLE |
| 90291C201 | USAU | U S GOLD CORP | $14.1M | 1.58% | 857,708 | Common | SOLE |
| 020002101 | ALL | ALLSTATE CORP | $14.1M | 1.58% | 65,631 | Common | SOLE |
| 10240L102 | BOW | BOWHEAD SPECIALTY HLDGS INC | $14.1M | 1.58% | 519,833 | Common | SOLE |
| 21871N101 | CXW | CORECIVIC INC | $12.9M | 1.45% | 634,996 | Common | SOLE |
| 31620R303 | FNF | FIDELITY NATIONAL FINANCIAL | $12.6M | 1.42% | 208,824 | Common | SOLE |
| G0692U109 | AXS | AXIS CAP HLDGS LTD | $11.9M | 1.34% | 124,588 | Common | SOLE |
| 47233W109 | JEF | JEFFERIES FINL GROUP INC | $11.9M | 1.33% | 181,444 | Common | SOLE |
| 553368101 | MP | MP MATERIALS CORP | $11.4M | 1.28% | 170,000 | PUT | SOLE |
| 361448103 | GATX | GATX CORP | $11.0M | 1.23% | 62,752 | Common | SOLE |
| 042315705 | ARR | ARMOUR RESIDENTIAL REIT INC | $10.7M | 1.20% | 716,000 | Common | SOLE |
| 14040H105 | COF | CAPITAL ONE FINL CORP | $10.6M | 1.19% | 50,000 | PUT | SOLE |
| 733174700 | BPOP | POPULAR INC | $9.7M | 1.09% | 76,564 | Common | SOLE |
| 36317J209 | GLXY | GALAXY DIGITAL INC. | $9.6M | 1.08% | 285,000 | PUT | SOLE |
| 872657101 | TPG | TPG INC | $9.1M | 1.02% | 159,000 | Common | SOLE |
| 025932104 | AFG | AMERICAN FINL GROUP INC OHIO | $9.0M | 1.01% | 61,740 | Common | SOLE |
| 197236102 | COLB | COLUMBIA BKG SYS INC | $8.8M | 0.99% | 341,959 | Common | SOLE |
| 55305B101 | MHO | M/I HOMES INC | $8.5M | 0.95% | 58,618 | Common | SOLE |
| G16910120 | BLSH | BULLISH | $7.6M | 0.86% | 120,000 | PUT | SOLE |
| 553368101 | MP | MP MATERIALS CORP | $6.7M | 0.75% | 100,000 | CALL | SOLE |
| 69753M105 | PLMR | PALOMAR HLDGS INC | $6.5M | 0.73% | 55,885 | Common | SOLE |
| 06738E204 | BCS | BARCLAYS PLC | $6.4M | 0.72% | 310,571 | Common | SOLE |
| 349381103 | FIGR | FIGURE TECHNOLOGY SOLUTIO | $5.5M | 0.61% | 150,000 | Common | SOLE |
| 30041R108 | EVER | EVERQUOTE INC | $5.4M | 0.60% | 236,077 | Common | SOLE |
| 867981102 | SUNS | SUNRISE RLTY TR INC | $5.1M | 0.57% | 491,077 | Common | SOLE |
| G2949D104 | DYNC | DYNAMIX CORP | $4.9M | 0.55% | 472,389 | Common | SOLE |
| 48251W104 | KKR | KKR & CO INC | $4.4M | 0.49% | 33,900 | Common | SOLE |
| 026948109 | AII | AMERICAN INTEGRITY INS GROUP | $4.3M | 0.48% | 191,273 | Common | SOLE |
| 852066208 | SII | SPROTT INC | $2.2M | 0.25% | 26,921 | Common | SOLE |
| 23282W605 | CYTK | CYTOKINETICS INC | $2.2M | 0.24% | 39,523 | Common | SOLE |
| 65342T106 | NODK | NI HLDGS INC | $2.1M | 0.23% | 152,719 | Common | SOLE |
| 55262C100 | MBI | MBIA INC | $1.6M | 0.18% | 211,534 | Common | SOLE |
| G16910120 | BLSH | BULLISH | $1.1M | 0.12% | 17,500 | Common | SOLE |
| 644393100 | NFE | NEW FORTRESS ENERGY INC | $795,434 | 0.09% | 359,925 | Common | SOLE |
| G8193D104 | SKBL | SKYLINE BLDRS GROUP HLDG LTD | $221,616 | 0.02% | 64,800 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.