13F-HR/A 1 scc13f093108.txt AMENDED 13F 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 31, 2008 Check here if Amendment [ X]; Amendment Number: This Amendment (Check only one.):[X ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Second Curve Capital, LLC Address: 237 Park Ave 9th Floor New York, NY 10017 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: 646-563-7610 Signature, Place, and Date of Signing: Stephen Krug New York, NY August 14, 2008 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:18 Form 13F Information Table Value Total: $ 150,464 (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 AMBAC FINANCIAL GROUP INC COM 023139108 1,375 590311 SH SOLE 590311 AMCORE FINANCIAL COM 023912108 11,634 1241637 SH SOLE 1241637 BOSTON PRIVATE FINANCIAL HOLDINGS INC. COM 101119105 9,169 1049035 SH SOLE 1049035 ENCORE CAPITAL GROUP INC COM 292554102 4,061 296414 SH SOLE 296414 FIRST AMERICAN CORP COM 318522307 3,973 134687 SH SOLE 134687 FIRST HORIZON NATIONAL CORP COM 320517105 16,875 1802908 SH SOLE 1802908 HIGHBURY FINANCIAL INC COM 42982Y109 1,327 402000 SH SOLE 402000 HUNTINGTON BANCSHARES INC COM 446150104 13,383 1675000 SH SOLE 1675000 JP MORGAN CHASE & CO COM 46625H100 7,005 150000 SH SOLE 150000 MBIA INC COM 55262C100 32,707 2748500 SH SOLE 2748500 MBIA INC COM 55262C100 415 129000 SH CALL SOLE 129000 OCWEN FINANCIAL CORP COM 675746309 24,962 3100800 SH SOLE 3100800 PMI GROUP INC COM 69344M101 1,242 421034 SH SOLE 421034 PRIMUS GUARANTY LTD COM G72457107 12,972 4951188 SH SOLE 4951188 SUN AMERICAN BANCORP COM 86664A103 1,270 500000 SH SOLE 500000 TREE COM INC COM 894675107 148 30656 SH SOLE 30656 ZIONS BANCORP COM 989701107 7,856 203000 SH SOLE 203000 WTS HIGHBURY FINANCIAL INC WTS 42982Y117 90 600000 SH SOLE 600000