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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
+4.02%
1 Year Est. Return
-15.35%
3 Year Est. Return
-4.39%
5 Year Est. Return
+28.01%
10 Year Est. Return
–
AUM
$205M
AUM Growth
-$32.9M
(-14%)
Cap. Flow
-$31.3M
Cap. Flow
% of AUM
-15.27%
Top 10 Holdings %
Top 10 Hldgs %
75.72%
Holding
24
New
–
Increased
11
Reduced
5
Closed
6
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Universal Insurance Holdings
UVE
|
+$13.9M |
| 2 |
Unum
UNM
|
+$1.77M |
| 3 |
Safety Insurance
SAFT
|
+$1.39M |
| 4 |
Global Indemnity Group
GBLI
|
+$1.26M |
| 5 |
Prudential Financial
PRU
|
+$1.16M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
FGL
Fidelity & Guaranty Life
FGL
|
+$10.5M |
| 2 |
PRA
ProAssurance
PRA
|
+$9.81M |
| 3 |
Arthur J. Gallagher & Co
AJG
|
+$9.64M |
| 4 |
Radian Group
RDN
|
+$5.36M |
| 5 |
TW
TOWERS WATSON & CO COM STK CL A (DE)
TW
|
+$5.28M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 94.2% |
| 2 | Miscellaneous | 5.8% |
| 3 | Industrials | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Safety Insurance
SAFT
$1.52B
| $17.9M | 8.73% |
317,088
+24,726
| +8% | +$1.39M |
|
|
2
Universal Insurance Holdings
UVE
$1.21B
| $17.7M | 8.66% |
765,621
+503,544
| +192% | +$13.9M |
|
3
Assured Guaranty
AGO
$3.32B
| $17.2M | 8.38% |
649,080
+2,600
| +0.4% | +$69.7K |
|
4
Chubb
CB
$131B
| $17.1M | 8.36% |
146,500
+3,000
| +2% | +$339K |
|
|
5
Prudential Financial
PRU
$41.3B
| $16.7M | 8.13% |
204,600
+14,000
| +7% | +$1.16M |
|
6
MetLife
MET
$61.3B
| $16.5M | 8.07% |
384,812
+7,741
| +2% | +$340K |
|
7
Lincoln National
LNC
$8.29B
| $16.2M | 7.9% |
322,078
-23,100
| -7% | -$1.21M |
|
|
8
Unum
UNM
$14.7B
| $15.4M | 7.5% |
461,226
+51,226
| +12% | +$1.77M |
|
9
Allstate
ALL
$65.9B
| $10.5M | 5.11% |
168,490
-65,800
| -28% | -$4.09M |
|
|
10
Global Indemnity Group
GBLI
$434M
| $10M | 4.88% |
344,544
+44,720
| +15% | +$1.26M |
|
|
FNHC
11
DELISTED
FedNat Holding Company Common Stock
FNHC
| $9.84M | 4.8% |
332,723
-42,300
| -11% | -$1.23M |
|
12
Voya Financial
VOYA
$9.29B
| $9.66M | 4.72% |
261,800
-80,500
| -24% | -$3.19M |
|
13
CALL
Principal Financial Group
PFG
$23.9B
| $6.75M | 3.29% |
150,000
| – | – |
|
|
EMCI
14
DELISTED
EMC INS Group Inc
EMCI
| $6.23M | 3.04% |
246,265
+6,000
| +2% | +$151K |
|
15
CALL
Reinsurance Group of America
RGA
$16B
| $5.13M | 2.51% |
60,000
| – | – |
|
|
NGHC
16
DELISTED
National General Holdings Corp
NGHC
| $4.39M | 2.14% |
200,898
-111,102
| -36% | -$2.32M |
|
|
STFC
17
DELISTED
State Auto Financial Corp
STFC
| $4.25M | 2.07% |
206,361
+4,100
| +2% | +$95.1K |
|
|
AFH
18
DELISTED
Atlas Financial Holdings, Inc. Ordinary Shares
AFH
| $3.49M | 1.7% |
175,260
+50,260
| +40% | +$973K |
|
|
19
Arthur J. Gallagher & Co
AJG
$68.6B
| – | – |
-233,493
| Closed | -$9.64M |
|
|
PRA
20
DELISTED
ProAssurance
PRA
| – | – |
-200,029
| Closed | -$9.81M |
|
|
21
Radian Group
RDN
$4.82B
| – | – |
-336,902
| Closed | -$5.36M |
|
|
TW
22
CALL
DELISTED
TOWERS WATSON & CO COM STK CL A (DE)
TW
| – | – |
-66,700
| Closed | -$7.83M |
|
|
TW
23
DELISTED
TOWERS WATSON & CO COM STK CL A (DE)
TW
| – | – |
-45,000
| Closed | -$5.28M |
|
|
FGL
24
DELISTED
Fidelity & Guaranty Life
FGL
| – | – |
-429,073
| Closed | -$10.5M |
|
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Capital Returns Management's Q4 2015 Portfolio in Review
As of Q4 2015, Capital Returns Management held 24 positions worth $205M, down 14% from $238M the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Capital Returns Management withdrew a net $31.3M in Q4 2015, closing 6 positions and reducing 5 holdings. Its most notable exit was Fidelity & Guaranty Life, an estimated $10.5M position sold in full.
By sector, the portfolio is most concentrated in Financials at 94% of assets, up from 89% a quarter earlier, followed by Miscellaneous and Industrials.
Against the trend, Capital Returns Management added an estimated $13.9M to Universal Insurance Holdings.
- Capital Returns Management added most to Universal Insurance Holdings in Q4 2015, an estimated $13.9M increase.
- Capital Returns Management's biggest Q4 2015 reduction was Allstate, cutting an estimated $4.09M.
- Capital Returns Management fully exited Fidelity & Guaranty Life in Q4 2015, selling an estimated $10.5M.
- Capital Returns Management's ten largest holdings make up 76% of its $205M portfolio in Q4 2015.
- Capital Returns Management opened 0 new positions and closed 6 in Q4 2015.
- Capital Returns Management's portfolio value fell 14% quarter-over-quarter to $205M.
Based on Capital Returns Management's 13F filing for Q4 2015, filed 16 Feb 2016.