Tom Brown's Hedge Fund Second Curve Capital Updates Positions ~ market folly

Tuesday, March 23, 2010

Tom Brown's Hedge Fund Second Curve Capital Updates Positions

In a recent 13G filed with the SEC, Tom Brown's hedge fund firm Second Curve Capital has updated their stake in CompuCredit Holdings (CCRT). Due to activity on March 18th, 2010, Second Curve now shows a 5.3% ownership stake in the company with 2,512,730 shares.

This means they've increased their position by 41.85% by adding 741,341 more shares over the past three months. Back on December 31st, 2009, Brown's hedge fund owned 1,771,389 shares as we noted when we covered Second Curve's portfolio.

Additionally, Second Curve has filed a pair of Form 4's with the SEC in regards to shares of Taylor Capital Group (TAYC). Keep in mind that these two transactions represent indirect ownership for Second Curve. As noted on the filings, the nature of this indirect ownership is "By advisory clients of Second Curve Capital, LLC." On February 26th, 2010, it shows they acquired 10,000 shares of TAYC at a price of $11.03. Additionally, on March 12th, 2010, they acquired an additional 15,000 shares at a price of $11.35.

This brings their total ownership up to 1,320,191 shares of Taylor Capital Group. It represents an increase in the size of their position by 22.96% as they've added 246,580 shares over the course of the past three months. You can view the rest of Second Curve's investments here.

Taken from Google Finance, CompuCredit Holdings is "a provider of various credit and related financial services and products to or associated with the financially underserved consumer credit market."

Taylor Capital Group "serves as the holding company for Cole Taylor Bank, primarily engaged in commercial banking. The Bank provides a range of products and services primarily to closely-held commercial customers and their owner operators in the Chicago metropolitan area."

For the latest movements from some of the most prominent hedge funds out there, make sure to check in on our portfolio tracking series daily.

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