Second Curve Capital Top Picks Include NewStar Financial Inc (NEWS), Bank of America Corp (BAC) & Others

In the current round of 13F filings, hedge funds and other institutional investors are disclosing their equity portfolios as held at the end of the last year. One of those is Tom Brown’s Second Curve Capital. In its latest 13F, the fund revealed its holdings as held at the end of the fourth quarter of 2013.

NewStar Financial Inc (NASDAQ:NEWS)

The total value of Second Curve Capital’s equity portfolio increased to $481.59 million in the fourth quarter from $445.41 million disclosed in the third quarter. We have picked the top five holdings of the fund in terms of value.

On the first spot is NewStar Financial Inc (NASDAQ:NEWS), in which Second Curve Capital disclosed ownership of 4.94 million shares, worth $87.80 million. NewStar Financial Inc (NASDAQ:NEWS), a specialized commercial finance company, on Feb. 12 reported consolidated net income of $6.4 million for the fourth quarter of 2013.

The second position is held by Bank of America Corp. (NYSE:BAC), in which Second Curve Capital reported holding 8.86 million shares, with a reported value of $57.35 million. The fund held 9.27 million shares of Bank of America Corp. (NYSE:BAC) at the end of third quarter.

The next is Bancorp Inc (NASDAQ:TBBK), in which the fund disclosed holding 2.76 million shares worth $49.48 million. Bancorp Inc. (NASDAQ:TBBK) reported a 40% increase in fourth-quarter 2013 net income, to $7.3 million from $5.2 million in fourth quarter of 2012, an increase of 40%.

The fourth is Regional Management Corp (NYSE:RM), in which the fund reported raising its stake to 950,231 shares, from 490,982 held at the end of the third quarter of 2013. Regional Management Corp. (NYSE:RM) is a diversified specialty consumer finance company providing a broad array of loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other traditional lenders.

The fifth position is held by Tree.com Inc (NASDAQ:TREE), in which the fund disclosed owning 937,312 shares, up from 850,292 held at the end of the third quarter.

Disclosure: none

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Hedge Fund News: Whitney Tilson, Daniel Loeb & Ray Dalio

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