13F-HR 1 scc13f063007.txt SCC 13F FILING AS OF JUNE 30, 2007 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, 2007 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: 405 Lexington Ave 52nd Floor New York, NY 10174 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 13, 2007 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:15 Form 13F Information Table Value Total: $714,178 (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 AMERICREDIT CORP COM 03060R101 19,758 744170 SH SOLE 744170 BANKATLANTIC BANCORP INC-CL A COM 065908501 344 40000 SH SOLE 40000 CAPITAL ONE FINANCIAL CORP COM 14040H105 79,175 1009370 SH SOLE 1009370 COMPUCREDIT CORP COM 20478N100 165,606 4728891 SH SOLE 4728891 ENCORE CAPITAL GROUP INC COM 292554102 26,588 2130480 SH SOLE 2130480 FIRST ACCEPTANCE CORP COM 318457108 21,952 2160600 SH SOLE 2160600 FIRST MARBLEHEAD CORP COM 320771108 172,798 4472009 SH SOLE 4472009 HIGHBURY FINANCIAL INC COM 42982Y109 2,460 400000 SH SOLE 400000 INDYMAC BANCORP INC COM 456607100 48,495 1662480 SH SOLE 1662480 MGIC INVESTMENT CORP-WIS COM 552848103 29,713 522570 SH SOLE 522570 OCWEN FINANCIAL CORP COM 675746309 25,446 1908900 SH SOLE 1908900 PRIMUS GUARANTY LTD COM G72457107 21,912 2044040 SH SOLE 2044040 RENAISSANCERE HOLDINGS LTD COM G7496G103 98,432 1587870 SH SOLE 1587870 SUN AMERICAN BANCORP WTS WTS 86664A103 575 1250000 SH SOLE 1250000 WTS HIGHBURY FINANCIAL INC WTS 42982Y117 924 600000 SH SOLE 600000