WAL β€” WESTERN ALLIANCE BANCORP

Ownership history in Phase 2 Partners, LLC  Β·  5 quarters on record

This page tracks every 13F SEC filing in which Phase 2 Partners, LLC reported a position in WESTERN ALLIANCE BANCORP (WAL). Data includes quarterly share count, position size as % of portfolio, estimated market value, and end-of-quarter stock price β€” sourced directly from SEC EDGAR 13F filings.

πŸ” Peak position
7.23% (2023 Q1)
πŸ“Š Avg. % of fund
4.5%
πŸ“… First filed
2023 Q1
πŸ“… Last filed
2024 Q4
⏱ Quarters held
5

Position Intelligence

Phase 2 Partners, LLC Γ— WAL AI Analytics

πŸ“ˆ Phase 2 Partners, LLC outperformed the S&P 500 by +76.7% annually on this WAL position. Timing score: 50% (2/4 decisions correct). Average cost basis: $33.31. Maximum drawdown during holding period: –3.0%.

πŸ“ˆ Position Alpha vs SPY
+76.7%
annualised excess return

πŸ”₯ Exceptional β€” beat the S&P 500 by 76.7% per year on this position.
4 quarters analyzed

⏱️ Timing Score
50%

➑️ Neutral timing β€” roughly coin-flip accuracy on add/trim calls.
2 of 4 add/trim decisions correct

πŸ’° Entry Quality
$33.31
+145.0% vs current ($81.60)

Best entry: $33.06 (2023 Q1)  Β·  Worst: $81.60 (2024 Q4)

πŸ›‘οΈ Drawdown Resilience
–3.0%
max drawdown while held

πŸ’Ž No drawdown exceeding 20% during the holding period β€” exceptionally stable.

πŸ’ͺ Fund Conviction
40%
buy-side decisions

2 adds Β· 3 trims. Bought during 1 of 1 down-price quarters. πŸ“‰ Predominantly trimming β€” distribution phase.

πŸ“‘ Position Trajectory
↓ Shrinking
last 4–5 quarters trend

πŸ“‰ Portfolio weight has been declining in recent quarters. Possible distribution phase.
Currently 3.46% of portfolio

⚠ Based on quarterly 13F SEC filings and end-of-quarter closing prices. Timing score = accuracy of add/trim decisions vs next-quarter price direction. Alpha = mean quarterly excess return Γ— 4 (annualised). Not investment advice.

% of Fund (quarterly)    WAL price (monthly, adj. close)
πŸ“‹ Quarterly Holdings History 5 quarters  β–Ύ
Quarter Action Shares Change Chg % % of Fund Mkt Value Price (EOQ)
2024 Q4 ADDED 55,258 +2,421 +4.6% 3.46% $4.6M $81.60
2024 Q3 REDUCED 52,837 -68,077 -56.3% 2.70% $4.6M $84.13
2023 Q4 REDUCED 120,914 -176,368 -59.3% 4.20% $8.0M $62.93
2023 Q2 REDUCED 297,282 -174,313 -37.0% 4.92% $10.8M $34.38
2023 Q1 INITIATED 471,595 β€” β€” 7.23% $16.8M $33.06

🏒 Other funds also holding WAL

As of 2025 Q4 β€” sorted by position size

Davis Asset Management, L.P. 3Y 7.53% Black Maple Capital Management LP 3Y 7Y 6.52% Stieven Capital Advisors, L.P. 3Y 7Y 6.2% Petiole USA ltd 3Y 4.42% FJ Capital Management LLC 3Y 7Y 4.02% LHM, INC. 3.41% Smead Capital Management, Inc. 3Y 7Y 2.72% Stanley Capital Management, LLC 3Y 7Y 2.7% Compound Global Advisors, LLC 3Y 2.41% Gator Capital Management, LLC 3Y 7Y 2.2%
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