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CRM
Capital Returns Management Portfolio holdings
AUM
$38.7M
1-Year Est. Return
15.35%
This Fund
S&P 500
This Quarter
Est. Return
+6.11%
1 Year Est. Return
-15.35%
3 Year Est. Return
-4.39%
5 Year Est. Return
+28.01%
10 Year Est. Return
–
AUM
$176M
AUM Growth
-$11.1M
(-5.9%)
Cap. Flow
-$20.9M
Cap. Flow
% of AUM
-11.9%
Top 10 Holdings %
Top 10 Hldgs %
82.97%
Holding
31
New
7
Increased
7
Reduced
9
Closed
8
Top Buys
| 1 |
Arthur J. Gallagher & Co
AJG
|
+$6.26M |
| 2 |
BFYT
Benefytt Technologies, Inc. Class A Common Stock
BFYT
|
+$6.11M |
| 3 |
Markel Group
MKL
|
+$4.98M |
| 4 |
Assured Guaranty
AGO
|
+$4.54M |
| 5 |
FG
FGL Holdings Ordinary Shares
FG
|
+$3.77M |
Top Sells
| 1 |
EMCI
EMC INS Group Inc
EMCI
|
+$13M |
| 2 |
ATH
Athene Holding Ltd. Class A Common Shares
ATH
|
+$8.94M |
| 3 |
Assurant
AIZ
|
+$8.09M |
| 4 |
American International
AIG
|
+$7.97M |
| 5 |
AEL
American Equity Investment Life Holding Company
AEL
|
+$3.62M |
Sector Composition
| 1 | Financials | 94.87% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Assured Guaranty
AGO
$3.73B
| $23.9M | 13.62% |
568,694
+102,976
| +22% | +$4.54M |
|
|
2
Markel Group
MKL
$24.5B
| $16.5M | 9.4% |
15,161
+4,749
| +46% | +$4.98M |
|
3
Willis Towers Watson
WTW
$27.8B
| $15.9M | 9.04% |
82,879
-4,287
| -5% | -$776K |
|
4
AXIS Capital
AXS
$8.38B
| $14.7M | 8.39% |
247,050
+37,300
| +18% | +$2.17M |
|
5
Prudential Financial
PRU
$41.1B
| $14.3M | 8.13% |
141,305
-15,086
| -10% | -$1.5M |
|
|
6
Arthur J. Gallagher & Co
AJG
$65.8B
| $13.4M | 7.66% |
153,550
+75,000
| +95% | +$6.26M |
|
7
Lincoln National
LNC
$8.01B
| $12.7M | 7.25% |
197,703
-2,383
| -1% | -$152K |
|
8
Voya Financial
VOYA
$9.12B
| $12.2M | 6.95% |
220,619
-45,001
| -17% | -$2.41M |
|
|
9
American International
AIG
$41.4B
| $11.5M | 6.53% |
215,135
-160,000
| -43% | -$7.97M |
|
|
BFYT
10
DELISTED
Benefytt Technologies, Inc. Class A Common Stock
BFYT
| $10.5M | 6.01% |
406,966
+242,981
| +148% | +$6.11M |
|
|
FNHC
11
DELISTED
FedNat Holding Company Common Stock
FNHC
| $9.01M | 5.13% |
631,651
+4,908
| +0.8% | +$74.8K |
|
12
Global Indemnity Group
GBLI
$398M
| $6.34M | 3.61% |
204,703
-18,106
| -8% | -$547K |
|
13
Old Republic International
ORI
$10.1B
| $3.93M | 2.24% |
175,673
-120,000
| -41% | -$2.64M |
|
|
PTVCB
14
DELISTED
Protective Insurance Corporation Class B Common Stock
PTVCB
| $3.9M | 2.22% |
224,302
+911
| +0.4% | +$15.5K |
|
|
FG
15
DELISTED
FGL Holdings Ordinary Shares
FG
| $3.78M | 2.15% |
+450,000
| New | +$3.77M |
|
16
Hartford Financial Services
HIG
$37.5B
| $521K | 0.3% |
+9,346
| New | +$493K |
|
17
Primerica
PRI
$9.75B
| $448K | 0.26% |
+3,738
| New | +$463K |
|
18
Arch Capital
ACGL
$35B
| $404K | 0.23% |
+10,903
| New | +$372K |
|
19
James River Group Holdings
JRVR
$210M
| $402K | 0.23% |
+8,566
| New | +$373K |
|
|
PRA
20
DELISTED
ProAssurance
PRA
| $371K | 0.21% |
+10,281
| New | +$382K |
|
21
MetLife
MET
$60.3B
| $309K | 0.18% |
+6,231
| New | +$293K |
|
22
Ameriprise Financial
AMP
$47.9B
| $255K | 0.15% |
1,760
-420
| -19% | -$60.7K |
|
23
Aon
AON
$78.7B
| $240K | 0.14% |
1,246
-623
| -33% | -$113K |
|
24
American Financial Group
AFG
$11.6B
| – | – |
-3,116
| Closed | -$300K |
|
|
25
Assurant
AIZ
$13.6B
| – | – |
-85,250
| Closed | -$8.09M |
|
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Capital Returns Management's Q2 2019 Portfolio in Review
As of Q2 2019, Capital Returns Management held 31 positions worth $176M, down 5.9% from $187M the previous quarter. Its ten largest holdings account for 83% of the portfolio.
Capital Returns Management withdrew a net $20.9M in Q2 2019, closing 8 positions and reducing 9 holdings. Its most notable exit was EMC INS Group Inc, an estimated $13M position sold in full.
By sector, the portfolio is most concentrated in Financials at 95% of assets, up from 95% a quarter earlier.
Against the trend, Capital Returns Management opened a new position in FGL Holdings Ordinary Shares worth $3.78M.
- Capital Returns Management's largest Q2 2019 buy was FGL Holdings Ordinary Shares: 450,000 shares worth $3.78M.
- Capital Returns Management added most to Arthur J. Gallagher & Co in Q2 2019, an estimated $6.26M increase.
- Capital Returns Management's biggest Q2 2019 reduction was American International, cutting an estimated $7.97M.
- Capital Returns Management fully exited EMC INS Group Inc in Q2 2019, selling an estimated $13M.
- Capital Returns Management's ten largest holdings make up 83% of its $176M portfolio in Q2 2019.
- Capital Returns Management opened 7 new positions and closed 8 in Q2 2019.
- Capital Returns Management's portfolio value fell 5.9% quarter-over-quarter to $176M.
Based on Capital Returns Management's 13F filing for Q2 2019, filed 14 Aug 2019.