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CRM
Capital Returns Management Portfolio holdings
AUM
$38.7M
Turnover
23.08%
1-Year Est. Return
15.35%
This Fund
S&P 500
This Quarter Est. Return
+13.07%
1 Year Est. Return
-15.35%
3 Year Est. Return
-4.39%
5 Year Est. Return
+28.01%
10 Year Est. Return
–
AUM
$38.7M
AUM Growth
-$4.62M
(-11%)
Cap. Flow
-$8.12M
Cap. Flow % of AUM
Cap. Flow %
-20.97%
Top 10 Holdings %
Top 10 Hldgs %
94.87%
Holding
13
New
2
Increased
3
Reduced
5
Closed
1
Avg Time Held
0.9
years
Top 10 Avg Time Held
0.7
years
Top 20 Avg Time Held
0.9
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
FFG
FBL Financial Group
FFG
|
+$2.95M |
| 2 |
PROS
ProSight Global, Inc.
PROS
|
+$2.21M |
| 3 |
ARGO
Argo Group International Holdings, Ltd.
ARGO
|
+$457K |
| 4 |
PTVCB
Protective Insurance Corporation Class B Common Stock
PTVCB
|
+$150K |
| 5 |
PTVCA
Protective Insurance Corporation Class A Common Stock
PTVCA
|
+$79.8K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
BFYT
Benefytt Technologies, Inc. Class A Common Stock
BFYT
|
+$7.67M |
| 2 |
Arch Capital
ACGL
|
+$2.29M |
| 3 |
RenaissanceRe
RNR
|
+$1.5M |
| 4 |
Watford Holdings Ltd. Common Shares
WTRE
|
+$1.37M |
| 5 |
Enstar Group
ESGR
|
+$681K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 100% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
DELISTED
Watford Holdings Ltd. Common Shares
WTRE
| $9.8M | 25.4% |
428,902
-74,718
| -15% | -$1.37M |
2019 Q3
4 quarters
|
|
|
ARGO
2
DELISTED
Argo Group International Holdings, Ltd.
ARGO
| $4.79M | 12.36% |
139,004
+13,101
| +10% | +$457K |
2020 Q1
2 quarters
|
|
|
FFG
3
DELISTED
FBL Financial Group
FFG
| $3.57M | 9.22% |
+74,107
| New | +$2.95M |
2020 Q3
0 quarters
|
|
4
James River Group Holdings
JRVR
$179M
| $3.56M | 9.2% |
80,000
-10,000
| -11% | -$466K |
2020 Q2
1 quarter
|
|
5
Chubb
CB
$137B
| $3.48M | 9% |
30,000
| – | – |
2020 Q2
1 quarter
|
|
|
PROS
6
DELISTED
ProSight Global, Inc.
PROS
| $2.72M | 7.01% |
+239,566
| New | +$2.21M |
2020 Q3
0 quarters
|
|
|
PTVCB
7
DELISTED
Protective Insurance Corporation Class B Common Stock
PTVCB
| $2.69M | 6.95% |
205,000
+10,437
| +5% | +$150K |
2019 Q1
6 quarters
|
|
|
8
Arch Capital
ACGL
$34.3B
| $2.19M | 5.66% |
75,000
-75,000
| -50% | -$2.29M |
2020 Q2
1 quarter
|
|
9
Voya Financial
VOYA
$8.46B
| $1.96M | 5.06% |
40,901
| – | – |
2015 Q1
22 quarters
|
|
|
10
DELISTED
Enstar Group
ESGR
| $1.94M | 5% |
12,000
-4,000
| -25% | -$681K |
2020 Q2
1 quarter
|
|
|
11
RenaissanceRe
RNR
$14.6B
| $1.61M | 4.16% |
9,500
-8,500
| -47% | -$1.5M |
2020 Q2
1 quarter
|
|
|
PTVCA
12
DELISTED
Protective Insurance Corporation Class A Common Stock
PTVCA
| $375K | 0.97% |
26,774
+5,099
| +24% | +$79.8K |
2020 Q1
2 quarters
|
|
|
BFYT
13
DELISTED
Benefytt Technologies, Inc. Class A Common Stock
BFYT
| – | – |
-375,000
| Closed | -$7.67M | – |
|
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Capital Returns Management's Q3 2020 Portfolio in Review
As of Q3 2020, Capital Returns Management held 13 positions worth $38.7M, down 11% from $43.4M the previous quarter. Its ten largest holdings account for 95% of the portfolio.
Capital Returns Management withdrew a net $8.12M in Q3 2020, closing 1 position and reducing 5 holdings. Its most notable exit was Benefytt Technologies, Inc. Class A Common Stock, an estimated $7.67M position sold in full.
By sector, the portfolio is most concentrated in Financials at 100% of assets, unchanged from a quarter earlier.
Against the trend, Capital Returns Management opened a new position in FBL Financial Group worth $3.57M.
- Capital Returns Management's largest Q3 2020 buy was FBL Financial Group: 74,107 shares worth $3.57M.
- Capital Returns Management added most to Argo Group International Holdings, Ltd. in Q3 2020, an estimated $457K increase.
- Capital Returns Management's biggest Q3 2020 reduction was Arch Capital, cutting an estimated $2.29M.
- Capital Returns Management fully exited Benefytt Technologies, Inc. Class A Common Stock in Q3 2020, selling an estimated $7.67M.
- Capital Returns Management's ten largest holdings make up 95% of its $38.7M portfolio in Q3 2020.
- Capital Returns Management opened 2 new positions and closed 1 in Q3 2020.
- Capital Returns Management's portfolio value fell 11% quarter-over-quarter to $38.7M.
Based on Capital Returns Management's 13F filing for Q3 2020, filed 16 Nov 2020.