13F-HR 1 scc13f093005.txt SECOND CURVE CAPITAL 13F FILING AS OF SEPTEMBER 30, 2005 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F-HR Form 13F COVER PAGE Report for the Calendar Year of Quarter Ended: September 30, 2005 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: Second Curve Capital, LLC Address: 200 Park Avenue Suite 3300 New York, NY 10166 Form 13F File Number: 028-06413 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 submission. Person Signing this Report on Behalf of Reporting Manager: Name: Stephen Krug Title: Chief Operating Officer Phone: 212-808-3546 Signature, Place, and Date of Signing: Stephen Krug New York, NY November 14, 2005 Report Type (Check only one.): [X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 22 Form 13F Information Table Value Total: $558,249 (thousands) List of Other Included Managers: None FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE AFFILIATED MANAGERS GROUP INC COM 008252108 52,903 730500 SH SOLE 730500 ALLSTATE CORP COM 020002101 11,058 200000 SH SOLE 200000 AMERICAN PHYSICIANS CAPITAL INC COM 028884104 4,225 86000 SH SOLE 86000 AMERICAS CAR MART INC COM 03062T105 4,649 259150 SH SOLE 259150 AMERICREDIT CORP COM 03060R101 12,002 502802 SH SOLE 502802 ARGONAUT GROUP INC COM 040157109 3,532 130757 SH SOLE 130757 ASSET ACCEPTANCE CAPITAL CORP COM 04543P100 9,740 325000 SH SOLE 325000 CAPITAL ONE FINANCIAL CORP COM 14040H105 73,135 919700 SH SOLE 919700 COMMERCE BANCORP INC - N.J. COM 200519106 7,679 250200 SH SOLE 250200 COMPUCREDIT CORP COM 20478N100 86,446 1946103 SH SOLE 1946103 ENCORE CAPITAL GROUP INC COM 292554102 4,460 250000 SH SOLE 250000 FIRST ACCEPTANCE CORP COM 318457108 22,148 2190700 SH SOLE 2190700 FIRST MARBLEHEAD CORP COM 320771108 109,3624305600 SH SOLE 4305600 MONTPELIER RE HLDGS LTD COM G62185106 20,501 825000 SH SOLE 825000 NETBANK INC COM 640933107 13,472 1621190 SH SOLE 1621190 PORTFOLIO RECOVERY ASSOCIATES COM 73640Q105 45,350 1050265 SH SOLE 1050265 PRIMUS GUARANTY LTD COM G72457107 11,448 1052200 SH SOLE 1052200 PRIVATEBANCORP INC COM 742962103 924 26950 SH SOLE 26950 QC HOLDINGS INC COM 74729T101 10,572 810719 SH SOLE 810719 SIGNATURE BANK COM 82669G104 9,838 364501 SH SOLE 364501 SVB FINANCIAL GROUP COM 78486Q101 23,206 77100 SH SOLE 477100 UCBH HOLDINGS INC COM 90262T308 14,222 775900 SH SOLE 775900