Managers / Q2 2023 · view latest →
Phase 2 Partners, LLC
CIK 0001841126 · 44 MONTGOMERY STREET, SUITE 2970, SAN FRANCISCO, CA, 94104 · 415-503-5712
Summary
Phase 2 Partners, LLC reported $220M in U.S.-listed holdings across 23 positions for Q2 2023.
Its largest position, FLYW, represents 7.9% of the portfolio.
Compared with Q1 2023, the fund opened 8 new positions and exited 11.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 81.9% · $181M
- REIT · 8.6% · $19M
- MLP · 5.0% · $11M
- Other · 4.5% · $10M
Quarter-over-Quarter Changes full breakdown →
vs Q1 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| ENVESTNET INC | NEW | +245.5K | 245.5K | +$15M | $15M |
| PCORPROCORE TECHNOLOGIES INC | NEW | +199.6K | 199.6K | +$13M | $13M |
| MTGMGIC INVT CORP WIS | NEW | +669.0K | 669.0K | +$11M | $11M |
| BXPBOSTON PROPERTIES INC | NEW | +180.2K | 180.2K | +$10M | $10M |
| LAZARD LTD | NEW | +308.8K | 308.8K | +$10M | $10M |
| DEIDOUGLAS EMMETT INC | NEW | +681.4K | 681.4K | +$9M | $9M |
| BILLBILL HOLDINGS INC | NEW | +23.8K | 23.8K | +$3M | $3M |
| ALTGALTA EQUIPMENT GROUP INC | NEW | +42.4K | 42.4K | +$735,087 | $735,087 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2023
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q4 2024 | $133M | 26 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $169M | 27 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $166M | 27 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $191M | 27 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $189M | 21 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $226M | 20 | Nov 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $220M | 23 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $232M | 26 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $221M | 19 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $211M | 26 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $194M | 24 | Aug 15, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $153M | 21 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $161M | 20 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.