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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
+1.71%
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
$505M
AUM Growth
-$12.8M
Cap. Flow
-$7.83M
Cap. Flow %
-1.55%
Top 10 Hldgs %
71.37%
Holding
87
New
4
Increased
–
Reduced
1
Closed
9

Top Buys

Rank Stock Value
1
TVC
Tennessee Valley Authority Power Bonds 1998 Series D due June 1 2028
TVC
+$1.3M
2
TVE
Tennessee Valley Authority Power Bonds 1999 Series A due May 1 2029
TVE
+$638K

Top Sells

Rank Stock Value
1
WFC.PRQ
Wells Fargo & Co.
WFC.PRQ
+$2.52M
2
ET.PRE
Energy Transfer LP 7.600% Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Unit
ET.PRE
+$1.93M
3
IEH
INTEGRYS ENERGY GROUP INC 6% JR SUB NT DUE 8-1-2073 (WI)
IEH
+$1.79M
4
SREA
Sempra 5.750% Junior Subordinated Notes due 2079
SREA
+$1.44M
5
DTW
DTE Energy Company 2017 Series E 5.25% Junior Subordinated Debentures due 2077
DTW
+$941K

Sector Composition

Rank Sector Weight
1 Materials 28.01%
2 Financials 25.84%
3 Industrials 7.57%
4 Real Estate 5.64%
5 Healthcare 5.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DIS icon
26
Walt Disney
DIS
$171B
$1.87M 0.37%
23,070
– –
DFP
27
DELISTED
DELPHI FINL GROUP, INC 7.376% FXD TO FLTNG RT JR SUB
DFP
$1.71M 0.34%
77,797
– –
GE icon
28
GE Aerospace
GE
$388B
$1.67M 0.33%
18,952
– –
MCD icon
29
McDonald's
MCD
$191B
$1.65M 0.33%
6,250
– –
TEL icon
30
TE Connectivity
TEL
$61.9B
$1.54M 0.31%
12,500
– –
AXS.PRE icon
31
AXIS Capital Holdings Ltd Series E
AXS.PRE
$414M
$1.42M 0.28%
70,000
– –
SCHW
32
Charles Schwab
SCHW
$185B
$1.37M 0.27%
25,000
– –
TVC
33
Tennessee Valley Authority Power Bonds 1998 Series D due June 1 2028
TVC
$246M
$1.3M 0.26%
+60,000
New +$1.3M
JCI icon
34
Johnson Controls International
JCI
$92.3B
$1.27M 0.25%
23,874
– –
USB.PRS icon
35
US Bancorp Series O Preferred Stock
USB.PRS
$312M
$1.1M 0.22%
60,000
– –
SPB icon
36
Spectrum Brands
SPB
$2.09B
$1M 0.2%
12,799
– –
VTS icon
37
Vitesse Energy
VTS
$642M
$972K 0.19%
42,469
– –
OZKAP
38
Bank OZK 4.625% Series A Preferred Stock
OZKAP
$227M
$924K 0.18%
60,000
– –
PG icon
39
Procter & Gamble
PG
$341B
$831K 0.16%
5,700
– –
PSEC.PRA icon
40
Prospect Capital Corp 5.35% Series A Preferred Stock
PSEC.PRA
$88.4M
$780K 0.15%
50,000
– –
CHN
41
DELISTED
China Fund
CHN
$723K 0.14%
68,399
– –
FOX icon
42
Fox Class B
FOX
$21.9B
$723K 0.14%
25,028
– –
CUBB
43
Customers Bancorp 5.375% Subordinated Notes Due 2034
CUBB
$67.2M
$711K 0.14%
40,000
– –
HPP.PRC
44
Hudson Pacific Properties 4.750% Series C Preferred Stock
HPP.PRC
$245M
$675K 0.13%
55,000
– –
TVE
45
Tennessee Valley Authority Power Bonds 1999 Series A due May 1 2029
TVE
$195M
$633K 0.13%
+30,000
New +$638K
BP icon
46
BP
BP
$109B
$581K 0.12%
15,000
– –
OPINL
47
DELISTED
Office Properties Income Trust 6.375% Senior Notes due 2050
OPINL
$552K 0.11%
40,000
– –
HTLFP
48
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
$543K 0.11%
22,500
– –
BRK.A icon
49
Berkshire Hathaway Class A
BRK.A
$1.11T
$531K 0.11%
1
– –
NNN icon
50
NNN REIT
NNN
$8.98B
$459K 0.09%
13,000
– –
1
2
3

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IAT Reinsurance's Q3 2023 Portfolio in Review

As of Q3 2023, IAT Reinsurance held 87 positions worth $505M, down 2.5% from $518M the previous quarter. Its ten largest holdings account for 71% of the portfolio.

IAT Reinsurance's Q3 2023 filing shows 4 new, 1 reduced and 9 closed positions. Its largest new stake was Tennessee Valley Authority Power Bonds 1998 Series D due June 1 2028: 60,000 shares worth $1.3M. The largest sale was Wells Fargo & Co., an estimated $2.52M.

By sector, the portfolio is most concentrated in Materials at 28% of assets, up from 26% a quarter earlier, followed by Financials and Industrials.

  • IAT Reinsurance's largest Q3 2023 buy was Tennessee Valley Authority Power Bonds 1998 Series D due June 1 2028: 60,000 shares worth $1.3M.
  • IAT Reinsurance's biggest Q3 2023 reduction was DTE Energy Company 2017 Series E 5.25% Junior Subordinated Debentures due 2077, cutting an estimated $941K.
  • IAT Reinsurance fully exited Wells Fargo & Co. in Q3 2023, selling an estimated $2.52M.
  • IAT Reinsurance's ten largest holdings make up 71% of its $505M portfolio in Q3 2023.
  • IAT Reinsurance opened 4 new positions and closed 9 in Q3 2023.
  • IAT Reinsurance's portfolio value fell 2.5% quarter-over-quarter to $505M.

Based on IAT Reinsurance's 13F filing for Q3 2023, filed 13 Nov 2023.