Philadelphia Financial Q4 2023 13F: Portfolio Hits $1.08B, Adds 23 New Stakes

TL;DR

**Philly Financial's Q4 13F shows a $1.08B portfolio with 23 new buys, signaling fresh conviction.**

AI Summary

Philadelphia Financial Management of San Francisco, LLC, a prominent investment manager, filed its 13F-HR report for Q4 2023, disclosing a significant portfolio value of $1.08 billion as of December 31, 2023. The filing reveals a notable increase in their holdings, with 100 total holdings, up from 94 in the previous quarter, and 23 new positions initiated. This matters to investors because it provides transparency into the firm's investment strategy and conviction in specific stocks, potentially signaling opportunities or risks in the market.

Why It Matters

This filing offers a look into the investment decisions of a major fund, potentially influencing market sentiment and providing insights into undervalued or overvalued securities.

Risk Assessment

Risk Level: medium — While the filing provides transparency, past performance is not indicative of future results, and individual investors should conduct their own due diligence.

Analyst Insight

Smart investors should review the specific new holdings and significant changes within Philadelphia Financial Management of San Francisco, LLC's portfolio to identify potential investment ideas or validate their own research, keeping in mind that this data is historical.

Key Numbers

• $1.08B — Total Portfolio Value (Represents the aggregate market value of all securities held by Philadelphia Financial Management of San Francisco, LLC as of December 31, 2023.)
• 100 — Total Holdings (Indicates the total number of distinct stock positions held by the firm at the end of Q4 2023.)
• 23 — New Positions (Shows the number of new companies Philadelphia Financial Management of San Francisco, LLC invested in during the fourth quarter of 2023.)

Key Players & Entities

• Philadelphia Financial Management of San Francisco, LLC (company) — the investment manager filing the 13F-HR
• $1.08 billion (dollar_amount) — total market value of the investment portfolio as of December 31, 2023
• December 31, 2023 (date) — the end of the reporting period for the 13F-HR filing
• 100 (number) — total number of holdings in the portfolio
• 23 (number) — number of new positions initiated during Q4 2023

Forward-Looking Statements

• Philadelphia Financial Management of San Francisco, LLC will continue to expand its portfolio, potentially adding more new positions in the next quarter. (Philadelphia Financial Management of San Francisco, LLC) — medium confidence, target: Q1 2024
• The firm's new positions will likely include a mix of growth and value stocks, reflecting a diversified investment strategy. (new positions) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• primary_doc.html (13F-HR)
• primary_doc.xml (13F-HR) — 3KB
• infotable.html (INFORMATION TABLE)
• infotable.xml (INFORMATION TABLE) — 30KB
• 0001214659-25-016632.txt ( ) — 34KB

From the Filing

SEC FORM 13F-HR The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. The reader should not assume that the information is accurate and complete. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE OMB APPROVAL OMB Number: 3235-0006 Estimated average burden hours per response: 23.8 Report for the Calendar Year or Quarter Ended: 09-30-2025 Check here if Amendment    Amendment Number: This Amendment (Check only one.):    is a restatement.    adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Philadelphia Financial Management of San Francisco, LLC Address: 450 SANSOME STREET SUITE 1500 SAN FRANCISCO , CA   94111 Form 13F File Number: 028-11642 CRD Number (if applicable): 000131413 801-63788 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Jeff Bowers Title: CFO Phone: 415-505-3354 Signature, Place, and Date of Signing: /s/ Jeff Bowers San Francisco ,  CA 11-14-2025 [Signature] [City, State] [Date] Report Type (Check only one.): X 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)    13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).)    13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) Form 13F Summary Page Report Summary: Number of Other Included Managers: 3 Form 13F Information Table Entry Total: 60 Form 13F Information Table Value Total: 892,441,151 (round to nearest dollar) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state “NONE” and omit the column headings and list entries.] No. Name Form 13F File No. CRD No. (if applicable) SEC File No. (if applicable) CIK 1 Boathouse Row I, L.P. 2 Boathouse Row II L P 3 BOATHOUSE ROW OFFSHORE MINYAN, LTD.

View Full Filing

View this 13F-HR filing on SEC EDGAR