IR

IAT Reinsurance Portfolio holdings

AUM $445M
1-Year Return 2.45%
This Quarter Return
+3.11%
1 Year Return
-2.45%
3 Year Return
+1.09%
5 Year Return
+97.4%
10 Year Return
+147.3%
AUM
$474M
AUM Growth
+$32M
Cap. Flow
-$910K
Cap. Flow %
-0.19%
Top 10 Hldgs %
75.34%
Holding
77
New
5
Increased
1
Reduced
3
Closed
3

Top Buys

1
GLW icon
Corning
GLW
$4.75M
2
CRBD
Corebridge Financial, Inc. 6.375% Junior Subordinated Notes due 2064
CRBD
$2.03M
3
AHL.PRF
Aspen Insurance Holdings Limited Depositary Shares, each representing a 1/1,000th Interest in a 7.00% Perpetual Non-Cumulative Preference Share
AHL.PRF
$2.03M
4
RCD
Ready Capital Corporation 9.00% Senior Notes due 2029
RCD
$502K

Top Sells

1
BX icon
Blackstone
BX
$11.2M
2
SCHW icon
Charles Schwab
SCHW
$1.62M
3
SCE.PRN
SCE Trust VIII 6.95% Trust Preference Securities
SCE.PRN
$510K
4
MGRE
Affiliated Managers Group 6.750% Junior Subordinated Notes due 2064
MGRE
$493K

Sector Composition

1 Financials 30.37%
2 Materials 22.61%
3 Industrials 6.12%
4 Real Estate 6.01%
5 Healthcare 5.27%
Name Market Value Portfolio Weight Shares or Principal Shares
Change % 		Capital Flow
TEL icon
26
TE Connectivity
TEL
$61.7B
$1.79M 0.38%
12,500
– –
NEWTH
27
NewtekOne, Inc. 8.625% Fixed Rate Senior Notes due 2029
NEWTH
$74.9M
$1.55M 0.33%
60,000
– –
TRINZ icon
28
Trinity Capital 7.875% Notes due 2029
TRINZ
$119M
$1.51M 0.32%
60,000
– –
AXS.PRE icon
29
AXIS Capital Holdings Ltd Series E
AXS.PRE
$467M
$1.43M 0.3%
70,000
– –
GEV icon
30
GE Vernova
GEV
$158B
$1.24M 0.26%
3,780
– –
USB.PRS icon
31
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
$1.21M 0.26%
60,000
– –
RILYZ icon
32
B. Riley Financial 5.25% Senior Notes due 2028
RILYZ
$1.18M 0.25%
140,000
– –
SPB icon
33
Spectrum Brands
SPB
$1.38B
$1.08M 0.23%
12,799
– –
OZKAP
34
Bank OZK 4.625% Series A Non-Cumulative Perpetual Preferred Stock
OZKAP
$243M
$984K 0.21%
60,000
– –
PG icon
35
Procter & Gamble
PG
$375B
$956K 0.2%
5,700
– –
PSEC.PRA icon
36
Prospect Capital Corporation 5.35% Series A Fixed Rate Cumulative Perpetual Preferred Stock
PSEC.PRA
$87.4M
$882K 0.19%
50,000
– –
CHN
37
China Fund
CHN
$166M
$816K 0.17%
68,399
– –
CUBB
38
Customers Bancorp, Inc. 5.375% Subordinated Notes Due 2034
CUBB
$63.9M
$785K 0.17%
40,000
– –
HPP.PRC
39
Hudson Pacific Properties, Inc. 4.750% Series C Cumulative Redeemable Preferred Stock
HPP.PRC
$254M
$763K 0.16%
55,000
– –
BRK.A icon
40
Berkshire Hathaway Class A
BRK.A
$1.08T
$681K 0.14%
1
– –
HTLFP
41
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
$564K 0.12%
22,500
– –
NNN icon
42
NNN REIT
NNN
$8.18B
$531K 0.11%
13,000
– –
SCE.PRN
43
SCE Trust VIII 6.95% Trust Preference Securities
SCE.PRN
$311M
$510K 0.11%
20,000
-20,000
-50% -$510K
AQNB
44
Algonquin Power & Utilities Corp Series 2019-A
AQNB
$360M
$505K 0.11%
20,000
– –
GECCI icon
45
Great Elm Capital Corp 8.50% Notes Due 2029
GECCI
$504K 0.11%
20,000
– –
RCD
46
Ready Capital Corporation 9.00% Senior Notes due 2029
RCD
$123M
$502K 0.11%
+20,000
New +$502K
BEPJ
47
Brookfield BRP Holdings (Canada) Inc. 7.250% Perpetual Subordinated Notes
BEPJ
$151M
$499K 0.11%
20,000
– –
OPINL
48
Office Properties Income Trust 6.375% Senior Notes due 2050
OPINL
$489K 0.1%
40,000
– –
ATLCL icon
49
Atlanticus Holdings 6.125% Senior Notes due 2026
ATLCL
$148M
$471K 0.1%
20,000
– –
BP icon
50
BP
BP
$87.4B
$443K 0.09%
15,000
– –
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