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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
-0.84%
1 Year Est. Return
-15.35%
3 Year Est. Return
-4.39%
5 Year Est. Return
+28.01%
10 Year Est. Return
–
AUM
$332M
AUM Growth
+$97.7M
(+42%)
Cap. Flow
+$101M
Cap. Flow
% of AUM
30.29%
Top 10 Holdings %
Top 10 Hldgs %
66.27%
Holding
26
New
6
Increased
13
Reduced
1
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Hartford Financial Services
HIG
|
+$25.3M |
| 2 |
ATH
Athene Holding Ltd. Class A Common Shares
ATH
|
+$24.7M |
| 3 |
Progressive
PGR
|
+$19M |
| 4 |
Lincoln National
LNC
|
+$15.1M |
| 5 |
Voya Financial
VOYA
|
+$4.31M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Universal Insurance Holdings
UVE
|
+$11.3M |
| 2 |
AEL
American Equity Investment Life Holding Company
AEL
|
+$5.34M |
| 3 |
Old Republic International
ORI
|
+$4.82M |
| 4 |
Safety Insurance
SAFT
|
+$1.29M |
| 5 |
OB
Onebeacon Insurance Group Ltd
OB
|
+$1.09M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 84.36% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Assured Guaranty
AGO
$3.76B
| $26.4M | 7.96% |
712,180
+23,900
| +3% | +$948K |
|
|
ATH
2
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
| $25.9M | 7.81% |
518,673
+496,909
| +2,283% | +$24.7M |
|
|
3
Hartford Financial Services
HIG
$38.4B
| $25.1M | 7.55% |
+522,039
| New | +$25.3M |
|
|
4
Voya Financial
VOYA
$9.04B
| $24.1M | 7.26% |
635,716
+107,100
| +20% | +$4.31M |
|
|
5
Old Republic International
ORI
$10.3B
| $24M | 7.22% |
1,170,918
-238,579
| -17% | -$4.82M |
|
6
Brown & Brown
BRO
$23.5B
| $22.5M | 6.78% |
1,079,000
+165,000
| +18% | +$3.57M |
|
|
7
Progressive
PGR
$121B
| $19.5M | 5.88% |
+498,500
| New | +$19M |
|
8
MGIC Investment
MTG
$6.23B
| $17.6M | 5.31% |
1,742,047
+275,300
| +19% | +$2.9M |
|
9
Global Indemnity Group
GBLI
$400M
| $17.5M | 5.26% |
454,212
+64,950
| +17% | +$2.49M |
|
10
Radian Group
RDN
$5.24B
| $17.4M | 5.24% |
969,185
+131,400
| +16% | +$2.43M |
|
11
CALL
Prudential Financial
PRU
$41.4B
| $15.1M | 4.54% |
141,500
| – | – |
|
|
12
Lincoln National
LNC
$8.08B
| $14.5M | 4.36% |
+221,500
| New | +$15.1M |
|
13
CALL
MetLife
MET
$60.5B
| $13.5M | 4.06% |
286,334
| – | – |
|
|
14
MetLife
MET
$60.5B
| $13.1M | 3.93% |
277,550
+69,687
| +34% | +$3.32M |
|
15
CALL
Arch Capital
ACGL
$35.4B
| $12.8M | 3.84% |
+300,000
| New | +$9.17M |
|
|
FNHC
16
DELISTED
FedNat Holding Company Common Stock
FNHC
| $10.6M | 3.2% |
609,623
+12,690
| +2% | +$242K |
|
|
EMCI
17
DELISTED
EMC INS Group Inc
EMCI
| $7.89M | 2.38% |
281,207
+40,799
| +17% | +$1.17M |
|
|
AFH
18
DELISTED
Atlas Financial Holdings, Inc. Ordinary Shares
AFH
| $7.85M | 2.36% |
575,233
+154,637
| +37% | +$2.38M |
|
19
MBIA
MBI
$333M
| $7.65M | 2.3% |
903,466
+138,100
| +18% | +$1.39M |
|
20
American Coastal Insurance
ACIC
$497M
| $4M | 1.21% |
+250,953
| New | +$3.9M |
|
|
STFC
21
DELISTED
State Auto Financial Corp
STFC
| $3.48M | 1.05% |
126,858
+19,600
| +18% | +$518K |
|
|
22
Prudential Financial
PRU
$41.4B
| $1.65M | 0.5% |
+15,500
| New | +$1.67M |
|
|
23
Safety Insurance
SAFT
$1.09B
| – | – |
-17,518
| Closed | -$1.29M |
|
|
24
Universal Insurance Holdings
UVE
$1.09B
| – | – |
-399,528
| Closed | -$11.3M |
|
|
AEL
25
DELISTED
American Equity Investment Life Holding Company
AEL
| – | – |
-236,844
| Closed | -$5.34M |
|
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Capital Returns Management's Q1 2017 Portfolio in Review
As of Q1 2017, Capital Returns Management held 26 positions worth $332M, up 42% from $234M the previous quarter. Its ten largest holdings account for 66% of the portfolio.
Capital Returns Management deployed $101M of net new capital in Q1 2017, opening 6 new positions and adding to 13 existing holdings. Its largest new stake was Hartford Financial Services: 522,039 shares worth $25.1M.
By sector, the portfolio is most concentrated in Financials at 84% of assets, up from 83% a quarter earlier.
On the sell side, the largest reduction was Old Republic International, an estimated $4.82M trimmed.
- Capital Returns Management's largest Q1 2017 buy was Hartford Financial Services: 522,039 shares worth $25.1M.
- Capital Returns Management added most to Athene Holding Ltd. Class A Common Shares in Q1 2017, an estimated $24.7M increase.
- Capital Returns Management's biggest Q1 2017 reduction was Old Republic International, cutting an estimated $4.82M.
- Capital Returns Management fully exited Universal Insurance Holdings in Q1 2017, selling an estimated $11.3M.
- Capital Returns Management's ten largest holdings make up 66% of its $332M portfolio in Q1 2017.
- Capital Returns Management opened 6 new positions and closed 4 in Q1 2017.
- Capital Returns Management's portfolio value rose 42% quarter-over-quarter to $332M.
Based on Capital Returns Management's 13F filing for Q1 2017, filed 15 May 2017.