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IAT Reinsurance Portfolio holdings

AUM $310M
1-Year Est. Return 13.37%
This Fund
S&P 500
This Quarter Est. Return
+35.42%
1 Year Est. Return
+13.37%
3 Year Est. Return
+22.45%
5 Year Est. Return
+25.65%
10 Year Est. Return
+209.01%
AUM
$657M
AUM Growth
+$168M
Cap. Flow
+$42M
Cap. Flow %
6.39%
Top 10 Hldgs %
75.06%
Holding
110
New
28
Increased
2
Reduced
1
Closed
4

Top Buys

Rank Stock Value
1
DTW
DTE Energy Company 2017 Series E 5.25% Junior Subordinated Debentures due 2077
DTW
+$5.22M
2
GAINN
Gladstone Investment Corp 5.00% Notes due 2026
GAINN
+$3.87M
3
DUKB
Duke Energy Corp 5.625% Junior Subordinated Debentures due 2078
DUKB
+$3.81M
4
USB.PRR icon
US Bancorp Series M Preferred Stock
USB.PRR
+$3.48M
5
NRUC
National Rural Utilities Cooperative Finance Corp 5.500% Subordinated Notes due 2064
NRUC
+$3.23M

Top Sells

Rank Stock Value
1
CFR.PRB icon
Cullen/Frost Bankers Series B Preferred Stock
CFR.PRB
+$515K
2
DHCNL
Diversified Healthcare Trust 6.25% Senior Notes due 2046
DHCNL
+$489K
3
DHCNI
Diversified Healthcare Trust 5.625% Senior Notes due 2042
DHCNI
+$229K

Sector Composition

Rank Sector Weight
1 Materials 36.12%
2 Financials 19.24%
3 Real Estate 10.97%
4 Industrials 7.07%
5 Consumer Discretionary 3.97%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BX icon
26
Blackstone
BX
$108B
$2.83M 0.43%
38,000
– –
CUBB
27
Customers Bancorp 5.375% Subordinated Notes Due 2034
CUBB
$67.2M
$2.83M 0.43%
110,000
+40,000
+57% +$1.02M
CTDD
28
DELISTED
Qwest Corp 6.75% Notes due 2057
CTDD
$2.35M 0.36%
+90,000
New +$2.35M
CHN
29
DELISTED
China Fund
CHN
$2M 0.3%
68,399
– –
WFC.PRC icon
30
Wells Fargo & Co Series CC Preferred Stock
WFC.PRC
$709M
$2M 0.3%
+80,000
New +$1.97M
WFC icon
31
Wells Fargo
WFC
$266B
$1.95M 0.3%
50,000
– –
CVX icon
32
Chevron
CVX
$385B
$1.68M 0.26%
16,000
– –
ABBV icon
33
AbbVie
ABBV
$433B
$1.66M 0.25%
15,371
– –
DFP
34
DELISTED
DELPHI FINL GROUP, INC 7.376% FXD TO FLTNG RT JR SUB
DFP
$1.63M 0.25%
77,797
– –
SCHW
35
Charles Schwab
SCHW
$184B
$1.63M 0.25%
25,000
– –
TEL icon
36
TE Connectivity
TEL
$59.4B
$1.61M 0.25%
12,500
– –
GE icon
37
GE Aerospace
GE
$383B
$1.59M 0.24%
24,277
– –
RILYN icon
38
BRC Group Holdings 6.50% Senior Notes Due 2026
RILYN
$1.57M 0.24%
+60,000
New +$1.54M
QVCGP
39
DELISTED
QVC Group Inc 8.0% Preferred Stock
QVCGP
$1.52M 0.23%
+15,000
New +$1.51M
BAC.PRO icon
40
Bank of America Depository Shares Series NN
BAC.PRO
$734M
$1.5M 0.23%
+60,000
New +$1.51M
RILYK
41
DELISTED
BRC Group Holdings 5.50% Senior Notes Due 2026
RILYK
$1.5M 0.23%
+60,000
New +$1.5M
ECCW
42
DELISTED
Eagle Point Credit Co 6.75% Notes due 2031
ECCW
$1.5M 0.23%
+60,000
New +$1.49M
JCI icon
43
Johnson Controls International
JCI
$88.7B
$1.43M 0.22%
23,874
– –
MCD icon
44
McDonald's
MCD
$188B
$1.4M 0.21%
6,250
– –
DCP.PRB
45
DELISTED
DCP Midstream, LP 7.875% Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units
DCP.PRB
$1.23M 0.19%
50,000
– –
SPB icon
46
Spectrum Brands
SPB
$2.04B
$1.09M 0.17%
12,799
– –
CDK
47
DELISTED
CDK Global, Inc.
CDK
$1.03M 0.16%
19,000
– –
AXS.PRE icon
48
AXIS Capital Holdings Ltd Series E
AXS.PRE
$414M
$1.03M 0.16%
+40,000
New +$1.03M
RILYT icon
49
BRC Group Holdings 6.00% Senior Notes Due 2028
RILYT
$1.02M 0.16%
+40,000
New +$1.02M
CNO.PRA icon
50
CNO Financial Group 5.125% Subordinated Debentures due 2060
CNO.PRA
$100M
$1.01M 0.15%
+40,000
New +$1.01M
1
2
3 4

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PH
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IPW
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CCG
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TL
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FI
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BBWA
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EWM
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IAT Reinsurance's Q1 2021 Portfolio in Review

As of Q1 2021, IAT Reinsurance held 110 positions worth $657M, up 34% from $489M the previous quarter. Its ten largest holdings account for 75% of the portfolio.

IAT Reinsurance deployed $42M of net new capital in Q1 2021, opening 28 new positions and adding to 2 existing holdings. Its largest new stake was DTE Energy Company 2017 Series E 5.25% Junior Subordinated Debentures due 2077: 200,000 shares worth $5.21M.

By sector, the portfolio is most concentrated in Materials at 36% of assets, up from 35% a quarter earlier, followed by Financials and Real Estate.

On the sell side, the largest reduction was Diversified Healthcare Trust 5.625% Senior Notes due 2042, an estimated $229K trimmed.

  • IAT Reinsurance's largest Q1 2021 buy was DTE Energy Company 2017 Series E 5.25% Junior Subordinated Debentures due 2077: 200,000 shares worth $5.21M.
  • IAT Reinsurance added most to Customers Bancorp 5.375% Subordinated Notes Due 2034 in Q1 2021, an estimated $1.02M increase.
  • IAT Reinsurance's biggest Q1 2021 reduction was Diversified Healthcare Trust 5.625% Senior Notes due 2042, cutting an estimated $229K.
  • IAT Reinsurance fully exited Cullen/Frost Bankers Series B Preferred Stock in Q1 2021, selling an estimated $515K.
  • IAT Reinsurance's ten largest holdings make up 75% of its $657M portfolio in Q1 2021.
  • IAT Reinsurance opened 28 new positions and closed 4 in Q1 2021.
  • IAT Reinsurance's portfolio value rose 34% quarter-over-quarter to $657M.

Based on IAT Reinsurance's 13F filing for Q1 2021, filed 11 May 2021.