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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
-9.39%
1 Year Est. Return
-15.35%
3 Year Est. Return
-4.39%
5 Year Est. Return
+28.01%
10 Year Est. Return
–
AUM
$235M
AUM Growth
+$29.8M
(+15%)
Cap. Flow
+$41.7M
Cap. Flow
% of AUM
17.76%
Top 10 Holdings %
Top 10 Hldgs %
73.73%
Holding
24
New
6
Increased
8
Reduced
5
Closed
5
Top Buys
| 1 |
MGIC Investment
MTG
|
+$19.6M |
| 2 |
Radian Group
RDN
|
+$19.3M |
| 3 |
W.R. Berkley
WRB
|
+$13M |
| 4 |
Voya Financial
VOYA
|
+$6.57M |
| 5 |
Lincoln National
LNC
|
+$5.85M |
Top Sells
| 1 |
Chubb
CB
|
+$17.1M |
| 2 |
Allstate
ALL
|
+$10.5M |
| 3 |
Prudential Financial
PRU
|
+$5.19M |
| 4 |
MetLife
MET
|
+$4.58M |
| 5 |
NGHC
National General Holdings Corp
NGHC
|
+$4.39M |
Sector Composition
| 1 | Financials | 89.61% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Radian Group
RDN
$5.2B
| $21.1M | 8.98% |
+1,699,685
| New | +$19.3M |
|
|
2
MGIC Investment
MTG
$6.18B
| $21M | 8.96% |
+2,740,647
| New | +$19.6M |
|
3
Unum
UNM
$14.3B
| $19.6M | 8.37% |
635,126
+173,900
| +38% | +$5.1M |
|
4
Universal Insurance Holdings
UVE
$1.07B
| $19.1M | 8.13% |
1,071,175
+305,554
| +40% | +$5.66M |
|
|
5
Lincoln National
LNC
$8.01B
| $18.5M | 7.89% |
471,923
+149,845
| +47% | +$5.85M |
|
6
Assured Guaranty
AGO
$3.73B
| $17.2M | 7.34% |
680,180
+31,100
| +5% | +$765K |
|
7
Safety Insurance
SAFT
$1.09B
| $17.1M | 7.31% |
300,450
-16,638
| -5% | -$928K |
|
|
8
Voya Financial
VOYA
$9.12B
| $14.3M | 6.08% |
478,900
+217,100
| +83% | +$6.57M |
|
|
9
W.R. Berkley
WRB
$26B
| $14.1M | 5.99% |
+843,750
| New | +$13M |
|
10
Global Indemnity Group
GBLI
$398M
| $11M | 4.69% |
353,700
+9,156
| +3% | +$268K |
|
|
11
CALL
MetLife
MET
$60.3B
| $10.3M | 4.4% |
+263,333
| New | +$9.84M |
|
|
12
MetLife
MET
$60.3B
| $10.3M | 4.38% |
262,168
-122,644
| -32% | -$4.58M |
|
|
13
Prudential Financial
PRU
$41.1B
| $9.4M | 4.01% |
130,200
-74,400
| -36% | -$5.19M |
|
|
14
CALL
Prudential Financial
PRU
$41.1B
| $9.4M | 4.01% |
+130,100
| New | +$9.07M |
|
|
AFH
15
DELISTED
Atlas Financial Holdings, Inc. Ordinary Shares
AFH
| $6.41M | 2.73% |
353,469
+178,209
| +102% | +$3.14M |
|
|
EMCI
16
DELISTED
EMC INS Group Inc
EMCI
| $6.05M | 2.58% |
235,879
-10,386
| -4% | -$251K |
|
|
FNHC
17
DELISTED
FedNat Holding Company Common Stock
FNHC
| $4.66M | 1.99% |
237,135
-95,588
| -29% | -$2.23M |
|
|
STFC
18
DELISTED
State Auto Financial Corp
STFC
| $4.62M | 1.97% |
209,461
+3,100
| +2% | +$65.5K |
|
|
AEL
19
DELISTED
American Equity Investment Life Holding Company
AEL
| $512K | 0.22% |
+30,500
| New | +$494K |
|
|
20
Allstate
ALL
$62.3B
| – | – |
-168,490
| Closed | -$10.5M |
|
|
21
Chubb
CB
$133B
| – | – |
-146,500
| Closed | -$17.1M |
|
22
CALL
Principal Financial Group
PFG
$24.4B
| – | – |
-150,000
| Closed | -$6.75M |
|
23
CALL
Reinsurance Group of America
RGA
$15.7B
| – | – |
-60,000
| Closed | -$5.13M |
|
|
NGHC
24
DELISTED
National General Holdings Corp
NGHC
| – | – |
-200,898
| Closed | -$4.39M |
|
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Capital Returns Management's Q1 2016 Portfolio in Review
As of Q1 2016, Capital Returns Management held 24 positions worth $235M, up 15% from $205M the previous quarter. Its ten largest holdings account for 74% of the portfolio.
Capital Returns Management deployed $41.7M of net new capital in Q1 2016, opening 6 new positions and adding to 8 existing holdings. Its largest new stake was MGIC Investment: 2,740,647 shares worth $21M.
By sector, the portfolio is most concentrated in Financials at 90% of assets, up from 89% a quarter earlier.
On the sell side, the largest reduction was Prudential Financial, an estimated $5.19M trimmed.
- Capital Returns Management's largest Q1 2016 buy was MGIC Investment: 2,740,647 shares worth $21M.
- Capital Returns Management added most to Voya Financial in Q1 2016, an estimated $6.57M increase.
- Capital Returns Management's biggest Q1 2016 reduction was Prudential Financial, cutting an estimated $5.19M.
- Capital Returns Management fully exited Chubb in Q1 2016, selling an estimated $17.1M.
- Capital Returns Management's ten largest holdings make up 74% of its $235M portfolio in Q1 2016.
- Capital Returns Management opened 6 new positions and closed 5 in Q1 2016.
- Capital Returns Management's portfolio value rose 15% quarter-over-quarter to $235M.
Based on Capital Returns Management's 13F filing for Q1 2016, filed 16 May 2016.