Skyline Builders Group Holding Ltd received a Schedule 13G from a group of related investment entities led by Philadelphia Financial Management of San Francisco, LLC, disclosing a passive ownership position in its Class A ordinary shares.
The reporting persons collectively report beneficial ownership of 660,102 Class A shares, representing 5.59% of the class, based on 11,816,590 shares outstanding as of December 31, 2025. All 660,102 shares are reported with shared voting and shared dispositive power, with no sole voting or dispositive authority.
The filing is made on behalf of Philadelphia Financial Management of San Francisco, LLC, Boathouse Row I, L.P., Boathouse Row II, L.P., Boathouse Row Offshore, Ltd., Jordan Hymowitz, and the Hymowitz 1999 Trust. The group certifies the shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Skyline Builders.
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Skyline Builders Group Holding Ltd
(Name of Issuer)
Class A ordinary shares, $0.00001 par value per share
(Title of Class of Securities)
G8193D104
(CUSIP Number)
12/31/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
G8193D104
1
Names of Reporting Persons
Philadelphia Financial Management of San Francisco, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CALIFORNIA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
660,102.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
660,102.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
660,102.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.59 %
12
Type of Reporting Person (See Instructions)
IA
Comment for Type of Reporting Person: The percentage is based off 11,816,590 shares of Class A ordinary shares outstanding as of the close of business on December 31, 2025.
SCHEDULE 13G
CUSIP No.
G8193D104
1
Names of Reporting Persons
Boathouse Row I, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
660,102.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
660,102.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
660,102.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.59 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: The percentage is based off 11,816,590 shares of Class A ordinary shares outstanding as of the close of business on December 31, 2025.
SCHEDULE 13G
CUSIP No.
G8193D104
1
Names of Reporting Persons
Boathouse Row II, L.P.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
660,102.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
660,102.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
660,102.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.59 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: The percentage is based off 11,816,590 shares of Class A ordinary shares outstanding as of the close of business on December 31, 2025.
SCHEDULE 13G
CUSIP No.
G8193D104
1
Names of Reporting Persons
Boathouse Row Offshore, Ltd.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CAYMAN ISLANDS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
660,102.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
660,102.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
660,102.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.59 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The percentage is based off 11,816,590 shares of Class A ordinary shares outstanding as of the close of business on December 31, 2025.
SCHEDULE 13G
CUSIP No.
G8193D104
1
Names of Reporting Persons
Jordan Hymowitz
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
660,102.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
660,102.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
660,102.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.59 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: The percentage is based off 11,816,590 shares of Class A ordinary shares outstanding as of the close of business on December 31, 2025.
SCHEDULE 13G
CUSIP No.
G8193D104
1
Names of Reporting Persons
Hymowitz 1999 Trust
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
660,102.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
660,102.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
660,102.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.59 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: The percentage is based off 11,816,590 shares of Class A ordinary shares outstanding as of the close of business on December 31, 2025.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Skyline Builders Group Holding Ltd
(b)
Address of issuer's principal executive offices:
Office A, 15/F, Tower A, Capital Tower, No.38 Wai Yip Street, Kowloon Bay, K3, 00000
Item 2.
(a)
Name of person filing:
This Schedule 13G is filed on behalf of each of the following persons:
Philadelphia Financial Management of San Francisco, LLC
Boathouse Row I, L.P.
Boathouse Row II, L.P.
Boathouse Row Offshore, Ltd.
Jordan Hymowitz
Hymowitz 1999 Trust
Each of the foregoing is referred to as a "Reporting Person" and collectively as the "Reporting Persons."
This Schedule 13G relates to the shares of common stock of the Issuer (the "Shares") held for the accounts of Philadelphia Financial Management of San Francisco, LLC ("PFM"), Boathouse Row I, L.P. ("BRI"), Boathouse Row II, L.P. ("BRII"), Boathouse Row Offshore, Ltd. ("BRO"). Philadelphia Financial Management of San Francisco, LLC ("PFM") is the investment adviser of BRO and the general partner of BRI and BRII and therefore retains voting control and dispositive power of the shares owned by each. Jordan Hymowitz is the Managing Member and sole owner of PFM.
(b)
Address or principal business office or, if none, residence:
The principal business office of each Reporting Person is:
c/o Philadelphia Financial Management of San Francisco, LLC
450 Sansome Street, Suite 1500
San Francisco, CA 94111
(c)
Citizenship:
Philadelphia Financial Management of San Francisco, LLC - California, United States
Boathouse Row I, L.P. - Delaware, United States
Boathouse Row II, L.P. - Delaware, United States
Boathouse Row Offshore, Ltd. - Cayman Islands
Jordan Hymowitz - California, United States
Hymowitz 1999 Trust- California, United States
(d)
Title of class of securities:
Class A ordinary shares, $0.00001 par value per share
(e)
CUSIP No.:
G8193D104
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
660,102
(b)
Percent of class:
5.59 %
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
0
(ii) Shared power to vote or to direct the vote:
660,102
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
660,102
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
See disclosure in Items 2 and 4 hereof.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
See disclosure in Items 2 and 4 hereof.
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Philadelphia Financial Management of San Francisco, LLC
What stake in Skyline Builders Group Holding Ltd (SKBL) is disclosed in this Schedule 13G?
The filing reports beneficial ownership of 660,102 Class A ordinary shares of Skyline Builders, representing 5.59% of the outstanding class based on 11,816,590 shares outstanding as of December 31, 2025. This crosses the 5% reporting threshold.
Who are the reporting persons in the Skyline Builders (SKBL) Schedule 13G?
The Schedule 13G is filed on behalf of Philadelphia Financial Management of San Francisco, LLC, Boathouse Row I, L.P., Boathouse Row II, L.P., Boathouse Row Offshore, Ltd., Jordan Hymowitz, and the Hymowitz 1999 Trust, collectively described as the reporting persons.
How much voting and dispositive power over SKBL shares do the reporting persons have?
The reporting persons disclose shared voting power over 660,102 shares and shared dispositive power over 660,102 shares, with no sole voting or sole dispositive power. This means decisions over these shares are exercised jointly rather than individually.
On what share count is the 5.59% SKBL ownership calculation based?
The reported 5.59% ownership is calculated using 11,816,590 Class A ordinary shares of Skyline Builders outstanding as of the close of business on December 31, 2025. This outstanding share figure is explicitly cited in the ownership calculation.
Is the 5.59% SKBL position reported as a passive investment?
Yes. The reporting persons certify the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Skyline Builders. This language is consistent with a passive Schedule 13G filing.
What role does Philadelphia Financial Management play in the SKBL holdings?
The filing states that Philadelphia Financial Management of San Francisco, LLC is the investment adviser to Boathouse Row Offshore, Ltd. and the general partner of Boathouse Row I, L.P. and Boathouse Row II, L.P., and therefore retains voting and dispositive power over their Skyline Builders shares.
