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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
+8.25%
1 Year Est. Return
-15.35%
3 Year Est. Return
-4.39%
5 Year Est. Return
+28.01%
10 Year Est. Return
–
AUM
$214M
AUM Growth
-$81.9M
(-28%)
Cap. Flow
-$103M
Cap. Flow
% of AUM
-48.29%
Top 10 Holdings %
Top 10 Hldgs %
74.69%
Holding
34
New
7
Increased
–
Reduced
18
Closed
9
Avg Time Held Equity + Options
1.1
years
Top 10 Avg Time Held Equity + Options
0.9
years
Top 20 Avg Time Held Equity + Options
1.3
years
Avg Time Held Equity only
1.2
years
Top 10 Avg Time Held Equity only
0.9
years
Top 20 Avg Time Held Equity only
1.3
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Assurant
AIZ
|
+$10.6M |
| 2 |
Willis Towers Watson
WTW
|
+$9.22M |
| 3 |
Kestrel Group
KG
|
+$2.79M |
| 4 |
RenaissanceRe
RNR
|
+$692K |
| 5 |
HCI Group
HCI
|
+$662K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Hartford Financial Services
HIG
|
+$14.8M |
| 2 |
ATH
Athene Holding Ltd. Class A Common Shares
ATH
|
+$13.6M |
| 3 |
American Equity Investment Life Holding Company
AEL
|
+$12.2M |
| 4 |
AHL
ASPEN Insurance Holding Limited
AHL
|
+$12M |
| 5 |
Old Republic International
ORI
|
+$10M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 94.98% |
| 2 | Miscellaneous | 5.02% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
American Financial Group
AFG
$12.1B
| – | – |
-5,136
| Closed | -$551K | – |
|
27
Everest Group
EG
$14.6B
| – | – |
-2,448
| Closed | -$564K | – |
|
28
Heritage Insurance Holdings
HRTG
$1.09B
| – | – |
-44,251
| Closed | -$738K | – |
|
29
Mercury Insurance
MCY
$5.64B
| – | – |
-142,433
| Closed | -$6.49M | – |
|
30
MetLife
MET
$63.7B
| – | – |
-146,400
| Closed | -$6.38M | – |
|
31
Manulife Financial
MFC
$72.6B
| – | – |
-30,100
| Closed | -$541K | – |
|
32
SiriusPoint
SPNT
$2.89B
| – | – |
-60,000
| Closed | -$750K | – |
|
|
33
CALL
DELISTED
American Equity Investment Life Holding Company
AEL
| – | – |
-50,000
| Closed | -$1.8M | – |
|
|
AHL
34
DELISTED
ASPEN Insurance Holding Limited
AHL
| – | – |
-294,752
| Closed | -$12M | – |
|
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Capital Returns Management's Q3 2018 Portfolio in Review
As of Q3 2018, Capital Returns Management held 34 positions worth $214M, down 28% from $296M the previous quarter. Its ten largest holdings account for 75% of the portfolio.
Capital Returns Management withdrew a net $103M in Q3 2018, closing 9 positions and reducing 18 holdings. Its most notable exit was ASPEN Insurance Holding Limited, an estimated $12M position sold in full.
By sector, the portfolio is most concentrated in Financials at 95% of assets, down from 97% a quarter earlier, followed by Miscellaneous.
Against the trend, Capital Returns Management opened a new position in Assurant worth $10.8M.
- Capital Returns Management's largest Q3 2018 buy was Assurant: 100,000 shares worth $10.8M.
- Capital Returns Management's biggest Q3 2018 reduction was Hartford Financial Services, cutting an estimated $14.8M.
- Capital Returns Management fully exited ASPEN Insurance Holding Limited in Q3 2018, selling an estimated $12M.
- Capital Returns Management's ten largest holdings make up 75% of its $214M portfolio in Q3 2018.
- Capital Returns Management opened 7 new positions and closed 9 in Q3 2018.
- Capital Returns Management's portfolio value fell 28% quarter-over-quarter to $214M.
Based on Capital Returns Management's 13F filing for Q3 2018, filed 14 Nov 2018.