13F-HR 1 scc13f33111.txt 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: December 31, 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 May 13, 2011 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: $ 252,068 (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 245 7987 SH SOLE 7987 BANCORP INC COM 05969A105 7,829 848214 SH SOLE 848214 BANNER CORPORATION COM 06652V109 25,513 10810707 SH SOLE 10810707 CITIZENS REPUBLIC BANCORP INC COM 174420109 4,583 5150000 SH SOLE 5150000 COBIZ FINANCIAL INC COM 190897108 24,063 3462266 SH SOLE 3462266 COMPUCREDIT CORP COM 20478T107 23,516 3601230 SH SOLE 3601230 ENTERPRISE FINANICAL SERVICES CORP COM 293712105 1,828 129884 SH SOLE 129884 FIRST MERCHANTS CORP COM 320817109 1,446 175000 SH SOLE 175000 HUDSON VALLEY HOLDING ORD COM 444172100 5,478 249022 SH SOLE 249022 MERCANTILE BANK CORP COM 587376104 8,809 904439 SH SOLE 904439 MERITAGE HOMES CORP COM 59001A102 241 10000 SH SOLE 10000 NEWSTAR FINANCIAL INC COM 65251F105 19,006 1740466 SH SOLE 1740466 OCWEN FINANCIAL CORP COM 675746309 19,563 1775207 SH SOLE 1775207 PRIMUS GUARANTY LTD COM G72457107 32,824 6461485 SH SOLE 6461485 STERLING FINANCIAL CORP COM 859319105 9,347 558036 SH SOLE 558036 SUN BANCORP INC COM 86663B102 2,001 575000 SH SOLE 575000 SYNOVUS FINANCIAL CORP COM 87161C105 15,977 6657181 SH SOLE 6657181 TAYLOR CAPITAL GROUP INC COM 876851106 21,412 2037283 SH SOLE 2037283 TENNESSEE COMMERCE BANCORP COM 88043P108 6,304 1286456 SH SOLE 1286456 TREE COM INC COM 894675107 3,897 661675 SH SOLE 661675 WESTERN ALLIANCE BANCORP COM 957638109 17,955 2184283 SH SOLE 2184283 ZIONS BANCORPORATION COM 989701107 231 10000 SH SOLE 10000