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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
-2.57%
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
$479M
AUM Growth
+$5.27M
Cap. Flow
+$13.6M
Cap. Flow %
2.84%
Top 10 Hldgs %
73.61%
Holding
82
New
8
Increased
–
Reduced
–
Closed
6

Top Buys

Rank Stock Value
1
UBER icon
Uber
UBER
+$9.08M
2
WTFCP
Wintrust Financial Corporation Depositary Shares, Each Representing a 1/1,000th Interest in a Share of 6.875% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series E
WTFCP
+$3.02M
3
FGSN
F&G Annuities & Life Inc 7.300% Junior Subordinated Notes due 2065
FGSN
+$2.97M
4
OXLCG
Oxford Lane Capital Corp 7.95% Notes due 2032
OXLCG
+$2.47M
5
TRTN.PRF
Triton International Ltd 7.625% Series F Preference Shares
TRTN.PRF
+$1.96M

Top Sells

Rank Stock Value
1
NEWTH
NewtekOne Inc 8.625% Fixed Rate Senior Notes due 2029
NEWTH
+$1.55M
2
TRINZ
Trinity Capital 7.875% Notes due 2029
TRINZ
+$1.51M
3
HTLFP
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
4
AQNB
Algonquin Power & Utilities Corp Series 2019-A
AQNB
+$505K
5
GECCI icon
Great Elm Capital Corp 8.50% Notes Due 2029
GECCI
+$504K

Sector Composition

Rank Sector Weight
1 Financials 27.38%
2 Materials 21.16%
3 Real Estate 7.09%
4 Technology 6.6%
5 Healthcare 6.21%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TRTN.PRF
26
Triton International Ltd 7.625% Series F Preference Shares
TRTN.PRF
$147M
$2.01M 0.42%
+80,000
New +$1.96M
CRBD
27
Corebridge Financial 6.375% Junior Subordinated Notes due 2064
CRBD
$529M
$1.96M 0.41%
80,000
– –
MCD icon
28
McDonald's
MCD
$188B
$1.95M 0.41%
6,250
– –
MGRE
29
Affiliated Managers Group 6.750% Junior Subordinated Notes due 2064
MGRE
$416M
$1.92M 0.4%
80,000
– –
JCI icon
30
Johnson Controls International
JCI
$88.7B
$1.91M 0.4%
23,874
– –
TEL icon
31
TE Connectivity
TEL
$59.4B
$1.77M 0.37%
12,500
– –
AXS.PRE icon
32
AXIS Capital Holdings Ltd Series E
AXS.PRE
$412M
$1.43M 0.3%
70,000
– –
RILYZ icon
33
BRC Group Holdings 5.25% Senior Notes due 2028
RILYZ
$1.22M 0.25%
140,000
– –
GEV icon
34
GE Vernova
GEV
$268B
$1.15M 0.24%
3,780
– –
USB.PRS icon
35
US Bancorp Series O Preferred Stock
USB.PRS
$311M
$1.15M 0.24%
60,000
– –
PRE.PRJ
36
DELISTED
PartnerRe Ltd. 4.875% Fixed Rate Non-Cumulative Redeemable Preferred Shares, Series J
PRE.PRJ
$1.03M 0.22%
+60,000
New +$1.03M
OZKAP
37
Bank OZK 4.625% Series A Preferred Stock
OZKAP
$226M
$977K 0.2%
60,000
– –
PG icon
38
Procter & Gamble
PG
$338B
$971K 0.2%
5,700
– –
SPB icon
39
Spectrum Brands
SPB
$2.04B
$916K 0.19%
12,799
– –
CHN
40
DELISTED
China Fund
CHN
$878K 0.18%
68,399
– –
PSEC.PRA icon
41
Prospect Capital Corp 5.35% Series A Preferred Stock
PSEC.PRA
$87.8M
$817K 0.17%
50,000
– –
BRK.A icon
42
Berkshire Hathaway Class A
BRK.A
$1.1T
$798K 0.17%
1
– –
CUBB
43
Customers Bancorp 5.375% Subordinated Notes Due 2034
CUBB
$67.2M
$787K 0.16%
40,000
– –
ARGO.PRA
44
DELISTED
Argo Group International Holdings Depository Shares
ARGO.PRA
$750K 0.16%
+30,000
New +$753K
HPP.PRC
45
Hudson Pacific Properties 4.750% Series C Preferred Stock
HPP.PRC
$244M
$735K 0.15%
55,000
– –
UMBFP
46
DELISTED
UMB Financial Corporation Depositary Shares, each representing a 1/400th of 7.00% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock
UMBFP
$562K 0.12%
+22,500
New +$569K
NNN icon
47
NNN REIT
NNN
$9.03B
$554K 0.12%
13,000
– –
BP icon
48
BP
BP
$109B
$507K 0.11%
15,000
– –
ATLCL icon
49
Atlanticus Holdings 6.125% Senior Notes due 2026
ATLCL
$149M
$489K 0.1%
20,000
– –
BEPJ
50
Brookfield BRP Holdings 7.250% Perpetual Subordinated Notes
BEPJ
$147M
$482K 0.1%
20,000
– –
1
2
3

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IAT Reinsurance's Q1 2025 Portfolio in Review

As of Q1 2025, IAT Reinsurance held 82 positions worth $479M, up 1.1% from $474M the previous quarter. Its ten largest holdings account for 74% of the portfolio.

IAT Reinsurance's Q1 2025 filing shows 8 new and 6 closed positions. Its largest new stake was Uber: 126,000 shares worth $9.18M. The largest sale was NewtekOne Inc 8.625% Fixed Rate Senior Notes due 2029, an estimated $1.55M.

By sector, the portfolio is most concentrated in Financials at 27% of assets, down from 30% a quarter earlier, followed by Materials and Real Estate.

  • IAT Reinsurance's largest Q1 2025 buy was Uber: 126,000 shares worth $9.18M.
  • IAT Reinsurance fully exited NewtekOne Inc 8.625% Fixed Rate Senior Notes due 2029 in Q1 2025, selling an estimated $1.55M.
  • IAT Reinsurance's ten largest holdings make up 74% of its $479M portfolio in Q1 2025.
  • IAT Reinsurance opened 8 new positions and closed 6 in Q1 2025.
  • IAT Reinsurance's portfolio value rose 1.1% quarter-over-quarter to $479M.

Based on IAT Reinsurance's 13F filing for Q1 2025, filed 7 May 2025.