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Capital Returns Management Portfolio holdings

AUM $38.7M
1-Year Est. Return 15.35%
This Fund
S&P 500
This Quarter Est. Return
+0.69%
1 Year Est. Return
-15.35%
3 Year Est. Return
-4.39%
5 Year Est. Return
+28.01%
10 Year Est. Return
–
AUM
$296M
AUM Growth
-$31.9M
Cap. Flow
-$24.9M
Cap. Flow %
-8.44%
Top 10 Hldgs %
76.01%
Holding
33
New
12
Increased
4
Reduced
11
Closed
6

Top Buys

Rank Stock Value
1
AEL
American Equity Investment Life Holding Company
AEL
+$14.3M
2
HIG icon
Hartford Financial Services
HIG
+$7.25M
3
ATH
Athene Holding Ltd. Class A Common Shares
ATH
+$5.93M
4
AFH
Atlas Financial Holdings, Inc. Ordinary Shares
AFH
+$4.05M
5
OSG
Octave Specialty Group
OSG
+$3.17M

Top Sells

Rank Stock Value
1
ALL icon
Allstate
ALL
+$12.2M
2
BRO icon
Brown & Brown
BRO
+$11.5M
3
MET icon
MetLife
MET
+$10.4M
4
MCY icon
Mercury Insurance
MCY
+$5.11M
5
ORI icon
Old Republic International
ORI
+$4.72M

Sector Composition

Rank Sector Weight
1 Financials 97.33%
2 Miscellaneous 2.67%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MFC icon
26
Manulife Financial
MFC
$73.5B
$541K 0.18%
+30,100
New +$567K
AMP icon
27
Ameriprise Financial
AMP
$49.5B
$528K 0.18%
+3,772
New +$535K
ALL icon
28
Allstate
ALL
$65.6B
– –
-128,333
Closed -$12.2M
BHF icon
29
CALL
Brighthouse Financial
BHF
$3.08B
– –
-200,000
Closed -$10.3M
BRO icon
30
Brown & Brown
BRO
$23.9B
– –
-452,916
Closed -$11.5M
GNW icon
31
Genworth Financial
GNW
$3.91B
– –
-476,525
Closed -$1.35M
MBI icon
32
MBIA
MBI
$243M
– –
-180,405
Closed -$1.67M
EMCI
33
DELISTED
EMC INS Group Inc
EMCI
– –
-117,462
Closed -$3.18M
1
2

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NVPX
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MCG
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Capital Returns Management's Q2 2018 Portfolio in Review

As of Q2 2018, Capital Returns Management held 33 positions worth $296M, down 9.7% from $328M the previous quarter. Its ten largest holdings account for 76% of the portfolio.

Capital Returns Management withdrew a net $24.9M in Q2 2018, closing 6 positions and reducing 11 holdings. Its most notable exit was Allstate, an estimated $12.2M position sold in full.

By sector, the portfolio is most concentrated in Financials at 97% of assets, up from 97% a quarter earlier, followed by Miscellaneous.

Against the trend, Capital Returns Management opened a new position in American Equity Investment Life Holding Company worth $16M.

  • Capital Returns Management's largest Q2 2018 buy was American Equity Investment Life Holding Company: 443,511 shares worth $16M.
  • Capital Returns Management added most to Hartford Financial Services in Q2 2018, an estimated $7.25M increase.
  • Capital Returns Management's biggest Q2 2018 reduction was MetLife, cutting an estimated $10.4M.
  • Capital Returns Management fully exited Allstate in Q2 2018, selling an estimated $12.2M.
  • Capital Returns Management's ten largest holdings make up 76% of its $296M portfolio in Q2 2018.
  • Capital Returns Management opened 12 new positions and closed 6 in Q2 2018.
  • Capital Returns Management's portfolio value fell 9.7% quarter-over-quarter to $296M.

Based on Capital Returns Management's 13F filing for Q2 2018, filed 14 Aug 2018.