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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
+3.03%
1 Year Est. Return
-15.35%
3 Year Est. Return
-4.39%
5 Year Est. Return
+28.01%
10 Year Est. Return
–
AUM
$298M
AUM Growth
-$33.7M
(-10%)
Cap. Flow
-$41M
Cap. Flow
% of AUM
-13.72%
Top 10 Holdings %
Top 10 Hldgs %
71.97%
Holding
24
New
2
Increased
6
Reduced
13
Closed
3
Top Buys
| 1 |
Willis Towers Watson
WTW
|
+$14.9M |
| 2 |
Radian Group
RDN
|
+$9.52M |
| 3 |
MGIC Investment
MTG
|
+$7.31M |
| 4 |
American Coastal Insurance
ACIC
|
+$5.53M |
| 5 |
Genworth Financial
GNW
|
+$2.81M |
Top Sells
| 1 |
Progressive
PGR
|
+$10.6M |
| 2 |
Brown & Brown
BRO
|
+$8.82M |
| 3 |
Lincoln National
LNC
|
+$8.07M |
| 4 |
MBIA
MBI
|
+$7.65M |
| 5 |
MetLife
MET
|
+$5.08M |
Sector Composition
| 1 | Financials | 91.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Assured Guaranty
AGO
$3.73B
| $29.6M | 9.9% |
707,980
-4,200
| -0.6% | -$166K |
|
|
2
MGIC Investment
MTG
$6.23B
| $27.1M | 9.09% |
2,421,790
+679,743
| +39% | +$7.31M |
|
|
3
Radian Group
RDN
$5.24B
| $24.9M | 8.36% |
1,525,537
+556,352
| +57% | +$9.52M |
|
4
Hartford Financial Services
HIG
$38.4B
| $24.1M | 8.08% |
458,539
-63,500
| -12% | -$3.15M |
|
|
ATH
5
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
| $23M | 7.72% |
464,558
-54,115
| -10% | -$2.78M |
|
6
Voya Financial
VOYA
$9.04B
| $19M | 6.35% |
513,816
-121,900
| -19% | -$4.44M |
|
7
Old Republic International
ORI
$10.3B
| $18.7M | 6.26% |
956,418
-214,500
| -18% | -$4.28M |
|
8
Global Indemnity Group
GBLI
$400M
| $17.7M | 5.94% |
457,608
+3,396
| +0.7% | +$132K |
|
|
9
Willis Towers Watson
WTW
$27.7B
| $15.5M | 5.18% |
+106,379
| New | +$14.9M |
|
10
CALL
Prudential Financial
PRU
$41.4B
| $15.2M | 5.1% |
140,700
-800
| -0.6% | -$84.9K |
|
|
11
Brown & Brown
BRO
$23.5B
| $14.4M | 4.82% |
667,600
-411,400
| -38% | -$8.82M |
|
|
12
Progressive
PGR
$121B
| $10.7M | 3.6% |
243,800
-254,700
| -51% | -$10.6M |
|
|
FNHC
13
DELISTED
FedNat Holding Company Common Stock
FNHC
| $9.8M | 3.28% |
612,788
+3,165
| +0.5% | +$50.4K |
|
|
14
American Coastal Insurance
ACIC
$503M
| $9.51M | 3.19% |
604,653
+353,700
| +141% | +$5.53M |
|
|
AFH
15
DELISTED
Atlas Financial Holdings, Inc. Ordinary Shares
AFH
| $8.51M | 2.85% |
571,306
-3,927
| -0.7% | -$55.4K |
|
|
16
MetLife
MET
$60.5B
| $8.22M | 2.75% |
167,931
-109,619
| -39% | -$5.08M |
|
|
EMCI
17
DELISTED
EMC INS Group Inc
EMCI
| $7.68M | 2.57% |
276,307
-4,900
| -2% | -$135K |
|
|
18
Lincoln National
LNC
$8.08B
| $6.72M | 2.25% |
99,500
-122,000
| -55% | -$8.07M |
|
|
STFC
19
DELISTED
State Auto Financial Corp
STFC
| $3.18M | 1.07% |
123,758
-3,100
| -2% | -$79.8K |
|
|
20
Genworth Financial
GNW
$3.86B
| $2.79M | 0.94% |
+740,776
| New | +$2.81M |
|
|
21
Prudential Financial
PRU
$41.4B
| $2.11M | 0.71% |
19,500
+4,000
| +26% | +$425K |
|
22
CALL
Arch Capital
ACGL
$35B
| – | – |
-300,000
| Closed | -$12.8M |
|
|
23
MBIA
MBI
$333M
| – | – |
-903,466
| Closed | -$7.65M |
|
|
24
CALL
MetLife
MET
$60.5B
| – | – |
-286,334
| Closed | -$13.5M |
|
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Capital Returns Management's Q2 2017 Portfolio in Review
As of Q2 2017, Capital Returns Management held 24 positions worth $298M, down 10% from $332M the previous quarter. Its ten largest holdings account for 72% of the portfolio.
Capital Returns Management withdrew a net $41M in Q2 2017, closing 3 positions and reducing 13 holdings. Its most notable exit was MBIA, an estimated $7.65M position sold in full.
By sector, the portfolio is most concentrated in Financials at 92% of assets, up from 84% a quarter earlier.
Against the trend, Capital Returns Management opened a new position in Willis Towers Watson worth $15.5M.
- Capital Returns Management's largest Q2 2017 buy was Willis Towers Watson: 106,379 shares worth $15.5M.
- Capital Returns Management added most to Radian Group in Q2 2017, an estimated $9.52M increase.
- Capital Returns Management's biggest Q2 2017 reduction was Progressive, cutting an estimated $10.6M.
- Capital Returns Management fully exited MBIA in Q2 2017, selling an estimated $7.65M.
- Capital Returns Management's ten largest holdings make up 72% of its $298M portfolio in Q2 2017.
- Capital Returns Management opened 2 new positions and closed 3 in Q2 2017.
- Capital Returns Management's portfolio value fell 10% quarter-over-quarter to $298M.
Based on Capital Returns Management's 13F filing for Q2 2017, filed 14 Aug 2017.