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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
+0.69%
1 Year Est. Return
-15.35%
3 Year Est. Return
-4.39%
5 Year Est. Return
+28.01%
10 Year Est. Return
–
AUM
$296M
AUM Growth
-$31.9M
(-9.7%)
Cap. Flow
-$24.9M
Cap. Flow
% of AUM
-8.44%
Top 10 Holdings %
Top 10 Hldgs %
76.01%
Holding
33
New
12
Increased
4
Reduced
11
Closed
6
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
AEL
American Equity Investment Life Holding Company
AEL
|
+$14.3M |
| 2 |
Hartford Financial Services
HIG
|
+$7.25M |
| 3 |
ATH
Athene Holding Ltd. Class A Common Shares
ATH
|
+$5.93M |
| 4 |
AFH
Atlas Financial Holdings, Inc. Ordinary Shares
AFH
|
+$4.05M |
| 5 |
OSG
Octave Specialty Group
OSG
|
+$3.17M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Allstate
ALL
|
+$12.2M |
| 2 |
Brown & Brown
BRO
|
+$11.5M |
| 3 |
MetLife
MET
|
+$10.4M |
| 4 |
Mercury Insurance
MCY
|
+$5.11M |
| 5 |
Old Republic International
ORI
|
+$4.72M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 97.33% |
| 2 | Miscellaneous | 2.67% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Assured Guaranty
AGO
$3.33B
| $33.2M | 11.24% |
930,302
-29,698
| -3% | -$1.08M |
|
|
ATH
2
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
| $29.4M | 9.93% |
669,826
+126,545
| +23% | +$5.93M |
|
|
3
Hartford Financial Services
HIG
$37.5B
| $27M | 9.13% |
527,773
+138,455
| +36% | +$7.25M |
|
4
Prudential Financial
PRU
$42.1B
| $22.8M | 7.72% |
244,000
+16,800
| +7% | +$1.7M |
|
5
AXIS Capital
AXS
$7.38B
| $21.6M | 7.31% |
388,711
-66,289
| -15% | -$3.79M |
|
|
FNHC
6
DELISTED
FedNat Holding Company Common Stock
FNHC
| $21.3M | 7.19% |
921,896
-139,775
| -13% | -$2.77M |
|
|
7
Old Republic International
ORI
$10B
| $21.1M | 7.14% |
1,059,993
-225,700
| -18% | -$4.72M |
|
8
Voya Financial
VOYA
$9.43B
| $16.4M | 5.55% |
349,288
-49,412
| -12% | -$2.56M |
|
9
Lincoln National
LNC
$8.71B
| $16M | 5.4% |
256,700
-24,400
| -9% | -$1.67M |
|
|
AEL
10
DELISTED
American Equity Investment Life Holding Company
AEL
| $16M | 5.4% |
+443,511
| New | +$14.3M |
|
11
Global Indemnity Group
GBLI
$444M
| $13.8M | 4.66% |
353,405
-50,241
| -12% | -$2M |
|
|
AHL
12
DELISTED
ASPEN Insurance Holding Limited
AHL
| $12M | 4.06% |
294,752
-414
| -0.1% | -$17.9K |
|
13
Arthur J. Gallagher & Co
AJG
$67.3B
| $8.87M | 3% |
135,900
-43,500
| -24% | -$2.95M |
|
|
AFH
14
DELISTED
Atlas Financial Holdings, Inc. Ordinary Shares
AFH
| $6.7M | 2.26% |
765,404
+381,552
| +99% | +$4.05M |
|
|
15
Mercury Insurance
MCY
$5.79B
| $6.49M | 2.19% |
142,433
-108,431
| -43% | -$5.11M |
|
|
16
MetLife
MET
$62B
| $6.38M | 2.16% |
146,400
-222,400
| -60% | -$10.4M |
|
|
17
CALL
AXIS Capital
AXS
$7.38B
| $6.1M | 2.06% |
+109,600
| New | +$6.26M |
|
|
OSG
18
Octave Specialty Group
OSG
$224M
| $3.41M | 1.15% |
+172,001
| New | +$3.17M |
|
|
AEL
19
CALL
DELISTED
American Equity Investment Life Holding Company
AEL
| $1.8M | 0.61% |
+50,000
| New | +$1.61M |
|
20
Aon
AON
$68.5B
| $969K | 0.33% |
+7,067
| New | +$996K |
|
|
ESGR
21
DELISTED
Enstar Group
ESGR
| $774K | 0.26% |
+3,735
| New | +$790K |
|
22
SiriusPoint
SPNT
$2.84B
| $750K | 0.25% |
+60,000
| New | +$802K |
|
23
Heritage Insurance Holdings
HRTG
$1.01B
| $738K | 0.25% |
+44,251
| New | +$730K |
|
24
Everest Group
EG
$14.6B
| $564K | 0.19% |
+2,448
| New | +$575K |
|
25
American Financial Group
AFG
$11.8B
| $551K | 0.19% |
+5,136
| New | +$569K |
|
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Capital Returns Management's Q2 2018 Portfolio in Review
As of Q2 2018, Capital Returns Management held 33 positions worth $296M, down 9.7% from $328M the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Capital Returns Management withdrew a net $24.9M in Q2 2018, closing 6 positions and reducing 11 holdings. Its most notable exit was Allstate, an estimated $12.2M position sold in full.
By sector, the portfolio is most concentrated in Financials at 97% of assets, up from 97% a quarter earlier, followed by Miscellaneous.
Against the trend, Capital Returns Management opened a new position in American Equity Investment Life Holding Company worth $16M.
- Capital Returns Management's largest Q2 2018 buy was American Equity Investment Life Holding Company: 443,511 shares worth $16M.
- Capital Returns Management added most to Hartford Financial Services in Q2 2018, an estimated $7.25M increase.
- Capital Returns Management's biggest Q2 2018 reduction was MetLife, cutting an estimated $10.4M.
- Capital Returns Management fully exited Allstate in Q2 2018, selling an estimated $12.2M.
- Capital Returns Management's ten largest holdings make up 76% of its $296M portfolio in Q2 2018.
- Capital Returns Management opened 12 new positions and closed 6 in Q2 2018.
- Capital Returns Management's portfolio value fell 9.7% quarter-over-quarter to $296M.
Based on Capital Returns Management's 13F filing for Q2 2018, filed 14 Aug 2018.