IR

IAT Reinsurance Portfolio holdings

AUM $445M
1-Year Return 2.45%
This Quarter Return
-4.52%
1 Year Return
-2.45%
3 Year Return
+1.09%
5 Year Return
+97.4%
10 Year Return
+147.3%
AUM
$520M
AUM Growth
-$28.3M
Cap. Flow
-$209K
Cap. Flow %
-0.04%
Top 10 Hldgs %
76.26%
Holding
91
New
2
Increased
3
Reduced
3
Closed
11

Top Buys

1
DIS icon
Walt Disney
DIS
$6.3M
2
SRL icon
Scully Royalty
SRL
$1.48M
3
IEH
INTEGRYS ENERGY GROUP INC 6% JR SUB NT DUE 8-1-2073 (WI)
IEH
$470K
4
PZN
Pzena Investment Management, Inc. Class A
PZN
$332K

Top Sells

1
PNC.PRP
THE PNC FINANCIAL SERVICES GROUP, INC.
PNC.PRP
$2.02M
2
DTW
DTE Energy Company 2017 Series E 5.25% Junior Subordinated Debentures due 2077
DTW
$1.13M
3
TBB
AT&T 5.350% Global Notes due 2066
TBB
$959K
4
UNMA
Unum Group 6.250% Junior Subordinated Notes due 2058
UNMA
$727K
5
SREA
Sempra 5.750% Junior Subordinated Notes due 2079
SREA
$711K

Sector Composition

1 Materials 38.95%
2 Financials 24.12%
3 Industrials 6.44%
4 Real Estate 4.93%
5 Healthcare 4.06%
Name Market Value Portfolio Weight Shares or Principal Shares
Change % 		Capital Flow
DFP
26
DELISTED
DELPHI FINL GROUP, INC 7.376% FXD TO FLTNG RT JR SUB
DFP
$1.69M 0.33%
77,797
– –
AXS.PRE icon
27
AXIS Capital Holdings Ltd Series E
AXS.PRE
$467M
$1.48M 0.29%
70,000
– –
MCD icon
28
McDonald's
MCD
$224B
$1.44M 0.28%
6,250
– –
DO
29
DELISTED
Diamond Offshore Drilling, Inc.
DO
$1.38M 0.27%
208,583
– –
TEL icon
30
TE Connectivity
TEL
$61.7B
$1.38M 0.27%
12,500
– –
JCI icon
31
Johnson Controls International
JCI
$69.5B
$1.18M 0.23%
23,874
– –
OZKAP
32
Bank OZK 4.625% Series A Non-Cumulative Perpetual Preferred Stock
OZKAP
$243M
$1.06M 0.2%
60,000
– –
GE icon
33
GE Aerospace
GE
$296B
$936K 0.18%
24,277
– –
HPP.PRC
34
Hudson Pacific Properties, Inc. 4.750% Series C Cumulative Redeemable Preferred Stock
HPP.PRC
$254M
$923K 0.18%
55,000
– –
PSEC.PRA icon
35
Prospect Capital Corporation 5.35% Series A Fixed Rate Cumulative Perpetual Preferred Stock
PSEC.PRA
$87.4M
$846K 0.16%
50,000
– –
CUBB
36
Customers Bancorp, Inc. 5.375% Subordinated Notes Due 2034
CUBB
$63.9M
$812K 0.16%
40,000
– –
CHN
37
China Fund
CHN
$166M
$797K 0.15%
68,399
– –
OPINL
38
Office Properties Income Trust 6.375% Senior Notes due 2050
OPINL
$766K 0.15%
40,000
– –
PG icon
39
Procter & Gamble
PG
$375B
$720K 0.14%
5,700
– –
FOX icon
40
Fox Class B
FOX
$24.9B
$713K 0.14%
25,028
– –
DUKB
41
Duke Energy Corporation 5.625% Junior Subordinated Debentures due 2078
DUKB
$501M
$608K 0.12%
25,000
– –
HTLFP
42
DELISTED
Heartland Financial USA, Inc. Depositary Shares, each representing a 1/400th ownership interest in a share of 7.00% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E
HTLFP
$572K 0.11%
22,500
– –
NNN icon
43
NNN REIT
NNN
$8.18B
$518K 0.1%
13,000
– –
SPB icon
44
Spectrum Brands
SPB
$1.38B
$500K 0.1%
12,799
– –
IEH
45
DELISTED
INTEGRYS ENERGY GROUP INC 6% JR SUB NT DUE 8-1-2073 (WI)
IEH
$470K 0.09%
+20,000
New +$470K
ATLCL icon
46
Atlanticus Holdings 6.125% Senior Notes due 2026
ATLCL
$148M
$445K 0.09%
20,000
– –
BP icon
47
BP
BP
$87.4B
$428K 0.08%
15,000
– –
BRK.A icon
48
Berkshire Hathaway Class A
BRK.A
$1.08T
$406K 0.08%
1
– –
CNFR icon
49
Conifer Holdings
CNFR
$9.04M
$403K 0.08%
250,000
– –
SLMBP
50
SLM Corporation Floating-Rate Non-Cumulative Series B
SLMBP
$189M
$390K 0.07%
7,000
– –
1
2
3