IR

IAT Reinsurance Portfolio holdings

AUM $445M
1-Year Return 2.45%
This Quarter Return
+6.49%
1 Year Return
-2.45%
3 Year Return
+1.09%
5 Year Return
+97.4%
10 Year Return
+147.3%
AUM
$225M
AUM Growth
-$316M
Cap. Flow
-$6.34M
Cap. Flow %
-2.82%
Top 10 Hldgs %
64.43%
Holding
88
New
6
Increased
5
Reduced
2
Closed
8

Top Buys

1
MGRE
Affiliated Managers Group 6.750% Junior Subordinated Notes due 2064
MGRE
$2.55M
2
J icon
Jacobs Solutions
J
$1.93M
3
DFP
DELPHI FINL GROUP, INC 7.376% FXD TO FLTNG RT JR SUB
DFP
$1.29M
4
CVX icon
Chevron
CVX
$1.26M
5
ET.PRE
Energy Transfer LP 7.600% Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Unit
ET.PRE
$1.01M

Top Sells

1
STT.PRD
State Street Corporation Depository Shares, each representing a 1/4000th ownership interest in a share of Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series D
STT.PRD
$5.01M
2
MS.PRF icon
MORGAN STANLEY SERIES F
MS.PRF
$2.5M
3
DTW
DTE Energy Company 2017 Series E 5.25% Junior Subordinated Debentures due 2077
DTW
$2.22M
4
NI.PRB
NiSource Inc. Depositary Shares representing 1/1,000th ownership interest in a share of 6.50% Series B Preferred Stock and 1/1,000th ownership interest in a share of Series B-1 Preferred Stock
NI.PRB
$2M
5
SCE.PRM
SCE Trust VII 7.50% Trust Preference Securities
SCE.PRM
$1.57M

Sector Composition

1 Financials 38.26%
2 Technology 11.85%
3 Industrials 9.41%
4 Consumer Discretionary 5.75%
5 Healthcare 3.38%
Name Market Value Portfolio Weight Shares or Principal Shares
Change % 		Capital Flow
NTP
26
DELISTED
Nam Tai Property Inc.
NTP
$1.72M 0.76%
5,774,800
– –
ET.PRE
27
DELISTED
Energy Transfer LP 7.600% Series E Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Unit
ET.PRE
$1.01M 0.45%
+120,000
New +$1.01M
AQNB
28
Algonquin Power & Utilities Corp Series 2019-A
AQNB
$360M
$1M 0.44%
80,000
+40,000
+100% +$500K
PSEC.PRA icon
29
Prospect Capital Corporation 5.35% Series A Fixed Rate Cumulative Perpetual Preferred Stock
PSEC.PRA
$87.4M
$955K 0.42%
50,000
– –
PG icon
30
Procter & Gamble
PG
$375B
$925K 0.41%
5,700
– –
AXS.PRE icon
31
AXIS Capital Holdings Ltd Series E
AXS.PRE
$467M
$907K 0.4%
70,000
– –
ECCV
32
Eagle Point Credit Company Inc. 5.375% Notes due 2029
ECCV
$87.5M
$897K 0.4%
120,000
– –
DO
33
DELISTED
Diamond Offshore Drilling, Inc.
DO
$854K 0.38%
208,583
– –
CUBB
34
Customers Bancorp, Inc. 5.375% Subordinated Notes Due 2034
CUBB
$63.9M
$791K 0.35%
40,000
– –
JCI icon
35
Johnson Controls International
JCI
$69.5B
$780K 0.35%
23,874
– –
GE icon
36
GE Aerospace
GE
$296B
$768K 0.34%
18,952
– –
FOX icon
37
Fox Class B
FOX
$24.9B
$716K 0.32%
25,028
– –
CHN
38
China Fund
CHN
$166M
$683K 0.3%
68,399
– –
SPB icon
39
Spectrum Brands
SPB
$1.38B
$670K 0.3%
12,799
– –
BRK.A icon
40
Berkshire Hathaway Class A
BRK.A
$1.08T
$634K 0.28%
1
– –
USB.PRS icon
41
U.S. Bancorp Depositary Shares, each representing a 1/1, 000th interest in a share of Series O Non- Cumulative Perpetual Preferred Stock
USB.PRS
$357M
$627K 0.28%
60,000
– –
BP icon
42
BP
BP
$87.4B
$565K 0.25%
15,000
– –
HPP.PRC
43
Hudson Pacific Properties, Inc. 4.750% Series C Cumulative Redeemable Preferred Stock
HPP.PRC
$254M
$564K 0.25%
55,000
– –
HTLFP
44
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
$560K 0.25%
22,500
– –
NNN icon
45
NNN REIT
NNN
$8.18B
$556K 0.25%
13,000
– –
RILYZ icon
46
B. Riley Financial 5.25% Senior Notes due 2028
RILYZ
$544K 0.24%
140,000
– –
XOM icon
47
Exxon Mobil
XOM
$466B
$535K 0.24%
79,600
– –
ATHS
48
Athene Holding Ltd 7.250% Fixed-Rate Reset Junior Subordinated Debentures due 2064
ATHS
$594M
$510K 0.23%
+70,000
New +$510K
BEPJ
49
Brookfield BRP Holdings (Canada) Inc. 7.250% Perpetual Subordinated Notes
BEPJ
$151M
$500K 0.22%
+20,000
New +$500K
ATLCL icon
50
Atlanticus Holdings 6.125% Senior Notes due 2026
ATLCL
$148M
$475K 0.21%
20,000
– –
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