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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
-6.5%
1 Year Est. Return
-15.35%
3 Year Est. Return
-4.39%
5 Year Est. Return
+28.01%
10 Year Est. Return
–
AUM
$238M
AUM Growth
+$59.7M
(+34%)
Cap. Flow
+$74.7M
Cap. Flow
% of AUM
31.42%
Top 10 Holdings %
Top 10 Hldgs %
60.64%
Holding
33
New
10
Increased
12
Reduced
2
Closed
9
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Lincoln National
LNC
|
+$18.5M |
| 2 |
Safety Insurance
SAFT
|
+$16.3M |
| 3 |
Chubb
CB
|
+$15M |
| 4 |
Unum
UNM
|
+$14.1M |
| 5 |
MetLife
MET
|
+$7.68M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
PRE
PARTNERRE LTD
PRE
|
+$13.6M |
| 2 |
Hartford Financial Services
HIG
|
+$9.91M |
| 3 |
RenaissanceRe
RNR
|
+$9.57M |
| 4 |
Y
Alleghany Corp
Y
|
+$8.42M |
| 5 |
AXIS Capital
AXS
|
+$6.51M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 85.42% |
| 2 | Industrials | 2.22% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Lincoln National
LNC
$8.08B
| $16.4M | 6.89% |
+345,178
| New | +$18.5M |
|
2
Assured Guaranty
AGO
$3.76B
| $16.2M | 6.8% |
646,480
+79,300
| +14% | +$1.99M |
|
|
3
MetLife
MET
$60.5B
| $15.8M | 6.66% |
377,071
+164,373
| +77% | +$7.68M |
|
|
4
Safety Insurance
SAFT
$1.09B
| $15.8M | 6.66% |
+292,362
| New | +$16.3M |
|
|
5
Chubb
CB
$137B
| $14.8M | 6.24% |
+143,500
| New | +$15M |
|
6
Prudential Financial
PRU
$41.4B
| $14.5M | 6.11% |
190,600
+42,500
| +29% | +$3.57M |
|
7
Allstate
ALL
$64.3B
| $13.6M | 5.74% |
234,290
+46,311
| +25% | +$2.9M |
|
8
Voya Financial
VOYA
$9.04B
| $13.3M | 5.58% |
342,300
+61,600
| +22% | +$2.71M |
|
|
9
Unum
UNM
$14.2B
| $13.2M | 5.53% |
+410,000
| New | +$14.1M |
|
|
FGL
10
DELISTED
Fidelity & Guaranty Life
FGL
| $10.5M | 4.43% |
429,073
+258,973
| +152% | +$6.43M |
|
|
PRA
11
DELISTED
ProAssurance
PRA
| $9.81M | 4.13% |
200,029
-21,300
| -10% | -$1.03M |
|
12
Arthur J. Gallagher & Co
AJG
$65.2B
| $9.64M | 4.05% |
233,493
-1,200
| -0.5% | -$54.4K |
|
|
FNHC
13
DELISTED
FedNat Holding Company Common Stock
FNHC
| $9.01M | 3.79% |
375,023
+233,237
| +164% | +$5.45M |
|
14
Global Indemnity Group
GBLI
$400M
| $7.85M | 3.3% |
299,824
+27,360
| +10% | +$749K |
|
|
TW
15
CALL
DELISTED
TOWERS WATSON & CO COM STK CL A (DE)
TW
| $7.83M | 3.29% |
+66,700
| New | +$8.26M |
|
16
Universal Insurance Holdings
UVE
$1.09B
| $7.74M | 3.26% |
262,077
+75,900
| +41% | +$2.05M |
|
17
CALL
Principal Financial Group
PFG
$24.6B
| $7.1M | 2.99% |
+150,000
| New | +$7.77M |
|
|
NGHC
18
DELISTED
National General Holdings Corp
NGHC
| $6.02M | 2.53% |
+312,000
| New | +$6.41M |
|
|
EMCI
19
DELISTED
EMC INS Group Inc
EMCI
| $5.58M | 2.35% |
240,265
+36,400
| +18% | +$882K |
|
20
CALL
Reinsurance Group of America
RGA
$15.8B
| $5.43M | 2.29% |
+60,000
| New | +$5.64M |
|
21
Radian Group
RDN
$5.24B
| $5.36M | 2.25% |
336,902
+60,500
| +22% | +$1.08M |
|
|
TW
22
DELISTED
TOWERS WATSON & CO COM STK CL A (DE)
TW
| $5.28M | 2.22% |
+45,000
| New | +$5.57M |
|
|
STFC
23
DELISTED
State Auto Financial Corp
STFC
| $4.61M | 1.94% |
202,261
+15,400
| +8% | +$376K |
|
|
AFH
24
DELISTED
Atlas Financial Holdings, Inc. Ordinary Shares
AFH
| $2.31M | 0.97% |
+125,000
| New | +$2.23M |
|
|
25
CALL
AXIS Capital
AXS
$8.46B
| – | – |
-20,000
| Closed | -$1.07M |
|
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Capital Returns Management's Q3 2015 Portfolio in Review
As of Q3 2015, Capital Returns Management held 33 positions worth $238M, up 34% from $178M the previous quarter. Its ten largest holdings account for 61% of the portfolio.
Capital Returns Management deployed $74.7M of net new capital in Q3 2015, opening 10 new positions and adding to 12 existing holdings. Its largest new stake was Lincoln National: 345,178 shares worth $16.4M.
By sector, the portfolio is most concentrated in Financials at 85% of assets, down from 96% a quarter earlier, followed by Industrials.
On the sell side, the largest reduction was ProAssurance, an estimated $1.03M trimmed.
- Capital Returns Management's largest Q3 2015 buy was Lincoln National: 345,178 shares worth $16.4M.
- Capital Returns Management added most to MetLife in Q3 2015, an estimated $7.68M increase.
- Capital Returns Management's biggest Q3 2015 reduction was ProAssurance, cutting an estimated $1.03M.
- Capital Returns Management fully exited PARTNERRE LTD in Q3 2015, selling an estimated $13.6M.
- Capital Returns Management's ten largest holdings make up 61% of its $238M portfolio in Q3 2015.
- Capital Returns Management opened 10 new positions and closed 9 in Q3 2015.
- Capital Returns Management's portfolio value rose 34% quarter-over-quarter to $238M.
Based on Capital Returns Management's 13F filing for Q3 2015, filed 16 Nov 2015.