Filed: 2/17/2026ACC: 0001214659-26-001977
📋 What this filing means
PHILADELPHIA FINANCIAL MANAGEMENT OF SAN FRANCISCO, LLC filed this quarterly 13F‑HR report disclosing 56 equity positions with a total reported market value of $931.79M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
56
Positions
$931.79M
Total AUM (reported)
24.31M
Total Shares
Allocation by class
COM$281.81M30.2%
COM CL A$281.31M30.2%
COM NEW$119.84M12.9%
CL A$50.30M5.4%
CL A NEW$45.59M4.9%
SHS BEN INT$34.76M3.7%
COM SHS$27.87M3.0%
Portfolio Concentration
Top 3$241.91M26.0%
4–10$233.95M25.1%
11–25$240.91M25.9%
Rest$215.02M23.1%
Top 3 weight
26.0%
Top 10 weight
51.1%
Voting Authority Distribution
Total shares with voting rights: 24.31M
Sole
Full voting authority
24.31M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole56
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings56
Rows:
CIRCLE INTERNET GROUP INC
SOLEShares1.33M
TypeSH
Market value$105.87M
11.36%
Sole
1.33M
Shared
0.00
None
0.00
COINBASE GLOBAL INC
SOLEShares400K
TypeSH
Market value$90.46M
9.71%
Sole
400K
Shared
0.00
None
0.00
STRATEGY INC
SOLEShares300K
TypeSH
Market value$45.59M
4.89%
Sole
300K
Shared
0.00
None
0.00
BITMINE IMMERSION TECNOLOGIE
SOLEShares1.50M
TypeSH
Market value$40.73M
4.37%
Sole
1.50M
Shared
0.00
None
0.00
COREWEAVE INC
SOLEShares550K
TypeSH
Market value$39.39M
4.23%
Sole
550K
Shared
0.00
None
0.00
AMERICAN INTL GROUP INC
SOLEShares449.66K
TypeSH
Market value$38.47M
4.13%
Sole
449.66K
Shared
0.00
None
0.00
ISHARES BITCOIN TRUST ETF
SOLEShares700K
TypeSH
Market value$34.76M
3.73%
Sole
700K
Shared
0.00
None
0.00
HCI GROUP INC
SOLEShares160K
TypeSH
Market value$30.67M
3.29%
Sole
160K
Shared
0.00
None
0.00
TARGET HOSPITALITY CORP
SOLEShares3.30M
TypeSH
Market value$26.47M
2.84%
Sole
3.30M
Shared
0.00
None
0.00
U S GOLD CORP
SOLEShares1.21M
TypeSH
Market value$23.48M
2.52%
Sole
1.21M
Shared
0.00
None
0.00
GENERAL MTRS CO
SOLEShares254.59K
TypeSH
Market value$20.70M
2.22%
Sole
254.59K
Shared
0.00
None
0.00
PINNACLE FINL PARTNERS INC
SOLEShares206.17K
TypeSH
Market value$19.67M
2.11%
Sole
206.17K
Shared
0.00
None
0.00
MECHANICS BANCORP
SOLEShares1.32M
TypeSH
Market value$19.30M
2.07%
Sole
1.32M
Shared
0.00
None
0.00
HUT 8 CORP
SOLEShares400K
TypeSH
Market value$18.38M
1.97%
Sole
400K
Shared
0.00
None
0.00
EXZEO GROUP INC
SOLEShares710K
TypeSH
Market value$17.22M
1.85%
Sole
710K
Shared
0.00
None
0.00
APPLIED DIGITAL CORP
SOLEShares700K
TypeSH
Market value$17.16M
1.84%
Sole
700K
Shared
0.00
None
0.00
DEUTSCHE BANK A G
SOLEShares436.26K
TypeSH
Market value$16.82M
1.81%
Sole
436.26K
Shared
0.00
None
0.00
BULLISH
SOLEShares425K
TypeSH
Market value$16.09M
1.73%
Sole
425K
Shared
0.00
None
0.00
BREAD FINANCIAL HOLDINGS INC
SOLEShares191.94K
TypeSH
Market value$14.21M
1.52%
Sole
191.94K
Shared
0.00
None
0.00
EZCORP INC
SOLEShares719.53K
TypeSH
Market value$13.97M
1.50%
Sole
719.53K
Shared
0.00
None
0.00
HAMILTON INSURANCE GROUP LTD
SOLEShares495.28K
TypeSH
Market value$13.82M
1.48%
Sole
495.28K
Shared
0.00
None
0.00
HARTFORD INSURANCE GROUP INC
SOLEShares99.47K
TypeSH
Market value$13.71M
1.47%
Sole
99.47K
Shared
0.00
None
0.00
THE BALDWIN INSURANCE GRP IN
SOLEShares556.30K
TypeSH
Market value$13.37M
1.43%
Sole
556.30K
Shared
0.00
None
0.00
LENDINGTREE INC NEW
SOLEShares251.46K
TypeSH
Market value$13.35M
1.43%
Sole
251.46K
Shared
0.00
None
0.00
MP MATERIALS CORP
SOLEShares260K
TypeSH
Market value$13.14M
1.41%
Sole
260K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
CIRCLE INTERNET GROUP INCSOLE | COM CL A | 1.33M | SH | $105.87M 11.36% | 1.33M | 0.00 | 0.00 |
COINBASE GLOBAL INCSOLE | COM CL A | 400K | SH | $90.46M 9.71% | 400K | 0.00 | 0.00 |
STRATEGY INCSOLE | CL A NEW | 300K | SH | $45.59M 4.89% | 300K | 0.00 | 0.00 |
BITMINE IMMERSION TECNOLOGIESOLE | COM NEW | 1.50M | SH | $40.73M 4.37% | 1.50M | 0.00 | 0.00 |
COREWEAVE INCSOLE | COM CL A | 550K | SH | $39.39M 4.23% | 550K | 0.00 | 0.00 |
AMERICAN INTL GROUP INCSOLE | COM NEW | 449.66K | SH | $38.47M 4.13% | 449.66K | 0.00 | 0.00 |
ISHARES BITCOIN TRUST ETFSOLE | SHS BEN INT | 700K | SH | $34.76M 3.73% | 700K | 0.00 | 0.00 |
HCI GROUP INCSOLE | COM | 160K | SH | $30.67M 3.29% | 160K | 0.00 | 0.00 |
TARGET HOSPITALITY CORPSOLE | COM | 3.30M | SH | $26.47M 2.84% | 3.30M | 0.00 | 0.00 |
U S GOLD CORPSOLE | COM NEW | 1.21M | SH | $23.48M 2.52% | 1.21M | 0.00 | 0.00 |
GENERAL MTRS COSOLE | COM | 254.59K | SH | $20.70M 2.22% | 254.59K | 0.00 | 0.00 |
PINNACLE FINL PARTNERS INCSOLE | COM | 206.17K | SH | $19.67M 2.11% | 206.17K | 0.00 | 0.00 |
MECHANICS BANCORPSOLE | CL A | 1.32M | SH | $19.30M 2.07% | 1.32M | 0.00 | 0.00 |
HUT 8 CORPSOLE | COM | 400K | SH | $18.38M 1.97% | 400K | 0.00 | 0.00 |
EXZEO GROUP INCSOLE | COM SHS | 710K | SH | $17.22M 1.85% | 710K | 0.00 | 0.00 |
APPLIED DIGITAL CORPSOLE | COM NEW | 700K | SH | $17.16M 1.84% | 700K | 0.00 | 0.00 |
DEUTSCHE BANK A GSOLE | NAMEN AKT | 436.26K | SH | $16.82M 1.81% | 436.26K | 0.00 | 0.00 |
BULLISHSOLE | ORD SHS | 425K | SH | $16.09M 1.73% | 425K | 0.00 | 0.00 |
BREAD FINANCIAL HOLDINGS INCSOLE | COM | 191.94K | SH | $14.21M 1.52% | 191.94K | 0.00 | 0.00 |
EZCORP INCSOLE | CL A NON VTG | 719.53K | SH | $13.97M 1.50% | 719.53K | 0.00 | 0.00 |
HAMILTON INSURANCE GROUP LTDSOLE | CL B | 495.28K | SH | $13.82M 1.48% | 495.28K | 0.00 | 0.00 |
HARTFORD INSURANCE GROUP INCSOLE | COM | 99.47K | SH | $13.71M 1.47% | 99.47K | 0.00 | 0.00 |
THE BALDWIN INSURANCE GRP INSOLE | COM CL A | 556.30K | SH | $13.37M 1.43% | 556.30K | 0.00 | 0.00 |
LENDINGTREE INC NEWSOLE | COM | 251.46K | SH | $13.35M 1.43% | 251.46K | 0.00 | 0.00 |
MP MATERIALS CORPSOLE | COM CL A | 260K | SH | $13.14M 1.41% | 260K | 0.00 | 0.00 |
Page 1 of 3