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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
-6.52%
1 Year Est. Return
-15.35%
3 Year Est. Return
-4.39%
5 Year Est. Return
+28.01%
10 Year Est. Return
–
AUM
$179M
AUM Growth
-$55.8M
(-24%)
Cap. Flow
-$42M
Cap. Flow
% of AUM
-23.46%
Top 10 Holdings %
Top 10 Hldgs %
79.21%
Holding
22
New
3
Increased
7
Reduced
8
Closed
4
Top Buys
| 1 |
Voya Financial
VOYA
|
+$6.76M |
| 2 |
FNHC
FedNat Holding Company Common Stock
FNHC
|
+$5.75M |
| 3 |
MBIA
MBI
|
+$4.11M |
| 4 |
MGIC Investment
MTG
|
+$917K |
| 5 |
Assured Guaranty
AGO
|
+$852K |
Top Sells
| 1 |
Unum
UNM
|
+$19.6M |
| 2 |
Lincoln National
LNC
|
+$18.5M |
| 3 |
W.R. Berkley
WRB
|
+$14.1M |
| 4 |
Universal Insurance Holdings
UVE
|
+$4.03M |
| 5 |
Prudential Financial
PRU
|
+$2.26M |
Sector Composition
| 1 | Financials | 84.01% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Assured Guaranty
AGO
$3.76B
| $18.1M | 10.12% |
713,280
+33,100
| +5% | +$852K |
|
2
Safety Insurance
SAFT
$1.09B
| $17.9M | 9.98% |
289,918
-10,532
| -4% | -$617K |
|
3
Radian Group
RDN
$5.24B
| $17.6M | 9.84% |
1,689,385
-10,300
| -0.6% | -$121K |
|
|
4
Voya Financial
VOYA
$9.04B
| $17.3M | 9.69% |
699,716
+220,816
| +46% | +$6.76M |
|
|
5
MGIC Investment
MTG
$6.23B
| $17.1M | 9.57% |
2,875,247
+134,600
| +5% | +$917K |
|
|
6
Universal Insurance Holdings
UVE
$1.09B
| $15.8M | 8.81% |
848,197
-222,978
| -21% | -$4.03M |
|
|
FNHC
7
DELISTED
FedNat Holding Company Common Stock
FNHC
| $9.9M | 5.54% |
519,876
+282,741
| +119% | +$5.75M |
|
8
CALL
MetLife
MET
$60.5B
| $9.38M | 5.25% |
264,343
+1,010
| +0.4% | +$39.4K |
|
|
9
CALL
Prudential Financial
PRU
$41.4B
| $9.32M | 5.21% |
130,600
+500
| +0.4% | +$37.7K |
|
|
10
MetLife
MET
$60.5B
| $9.3M | 5.2% |
262,055
-113
| -0% | -$4.41K |
|
11
Global Indemnity Group
GBLI
$400M
| $9.13M | 5.11% |
331,694
-22,006
| -6% | -$667K |
|
|
12
Prudential Financial
PRU
$41.4B
| $7.15M | 4% |
100,200
-30,000
| -23% | -$2.26M |
|
|
AFH
13
DELISTED
Atlas Financial Holdings, Inc. Ordinary Shares
AFH
| $6.84M | 3.83% |
397,348
+43,879
| +12% | +$774K |
|
|
EMCI
14
DELISTED
EMC INS Group Inc
EMCI
| $6.46M | 3.61% |
232,879
-3,000
| -1% | -$79.4K |
|
|
15
MBIA
MBI
$333M
| $3.78M | 2.11% |
+552,927
| New | +$4.11M |
|
|
STFC
16
DELISTED
State Auto Financial Corp
STFC
| $2.84M | 1.59% |
129,658
-79,803
| -38% | -$1.67M |
|
17
Greenlight Captial
GLRE
$566M
| $518K | 0.29% |
+25,700
| New | +$529K |
|
|
OB
18
DELISTED
Onebeacon Insurance Group Ltd
OB
| $466K | 0.26% |
+33,746
| New | +$436K |
|
|
19
Lincoln National
LNC
$8.08B
| – | – |
-471,923
| Closed | -$18.5M |
|
|
20
Unum
UNM
$14.2B
| – | – |
-635,126
| Closed | -$19.6M |
|
|
21
W.R. Berkley
WRB
$26.7B
| – | – |
-843,750
| Closed | -$14.1M |
|
|
AEL
22
DELISTED
American Equity Investment Life Holding Company
AEL
| – | – |
-30,500
| Closed | -$512K |
|
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Capital Returns Management's Q2 2016 Portfolio in Review
As of Q2 2016, Capital Returns Management held 22 positions worth $179M, down 24% from $235M the previous quarter. Its ten largest holdings account for 79% of the portfolio.
Capital Returns Management withdrew a net $42M in Q2 2016, closing 4 positions and reducing 8 holdings. Its most notable exit was Unum, an estimated $19.6M position sold in full.
By sector, the portfolio is most concentrated in Financials at 84% of assets, down from 90% a quarter earlier.
Against the trend, Capital Returns Management opened a new position in MBIA worth $3.78M.
- Capital Returns Management's largest Q2 2016 buy was MBIA: 552,927 shares worth $3.78M.
- Capital Returns Management added most to Voya Financial in Q2 2016, an estimated $6.76M increase.
- Capital Returns Management's biggest Q2 2016 reduction was Universal Insurance Holdings, cutting an estimated $4.03M.
- Capital Returns Management fully exited Unum in Q2 2016, selling an estimated $19.6M.
- Capital Returns Management's ten largest holdings make up 79% of its $179M portfolio in Q2 2016.
- Capital Returns Management opened 3 new positions and closed 4 in Q2 2016.
- Capital Returns Management's portfolio value fell 24% quarter-over-quarter to $179M.
Based on Capital Returns Management's 13F filing for Q2 2016, filed 15 Aug 2016.