13F-HR 1 scc13f93010.txt SCC SEPTEMBER 2010 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: June 30, 2010 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: 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 12, 2010 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:19 Form 13F Information Table Value Total: $ 222,496 (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 ALTISOURCE PORTFOLIO SOL COM 044540827 14,567 467803 SH SOLE 467803 BANNER CORPORATION COM 06652V109 10,400 4815000 SH SOLE 4815000 CAPITALSOURCE INC COM 14055X102 1,931 361565 SH SOLE 361565 COBIZ FINANCIAL INC COM 190897108 16,905 3040422 SH SOLE 3040422 COMPUCREDIT CORP COM 20478T107 19,924 4133630 SH SOLE 4133630 ENCORE CAPITAL GROUP INC COM 292554102 783 43433 SH SOLE 43433 FIRST MERCHANTS CORP COM 320817109 114 15000 SH SOLE 15000 HUDSON VALLEY HOLDING ORD COM 444172100 3,526 180631 SH SOLE 180631 NEWSTAR FINANCIAL INC COM 65251F105 9,263 1250000 SH SOLE 1250000 OCWEN FINANCIAL CORP COM 675746309 23,370 2304707 SH SOLE 2304707 PRIMUS GUARANTY LTD COM G72457107 29,159 6394485 SH SOLE 6394485 STERLING FINANCIAL CORP COM 859319105 1,625 2500000 SH SOLE 2500000 SYNOVUS FINANCIAL CORP COM 87161C105 22,293 9061981 SH SOLE 9061981 TAYLOR CAPITAL GROUP INC COM 876851106 22,989 2004283 SH SOLE 2004283 TENNESSEE COMMERCE BANCORP COM 88043P108 3,575 884456 SH SOLE 884456 TREE COM INC COM 894675107 6,639 1015171 SH SOLE 1015171 WESTERN ALLIANCE BANCORP COM 957638109 22,930 3422383 SH SOLE 3422383 WINTRUST FINANCIAL CORP COM 97650W108 12,418 383164 SH SOLE 383164 ZIONS BANCORP COM 989701107 85 4000 SH SOLE 4000