IR

IAT Reinsurance Portfolio holdings

AUM $445M
This Quarter Return
-5.72%
1 Year Return
-2.45%
3 Year Return
+1.09%
5 Year Return
+97.4%
10 Year Return
+147.3%
AUM
$647M
AUM Growth
+$647M
Cap. Flow
-$29.1M
Cap. Flow %
-4.5%
Top 10 Hldgs %
71.09%
Holding
130
New
17
Increased
7
Reduced
5
Closed
12

Top Buys

1
CMSA
CMS Energy Corporation 5.625% Junior Subordinated Notes due 2078
CMSA
$2M
2
IEH
INTEGRYS ENERGY GROUP INC 6% JR SUB NT DUE 8-1-2073 (WI)
IEH
$1.84M
3
SGZA.CL
Selective Insurance Group, Inc.
SGZA.CL
$1.26M
4
ALL.PRG
The Allstate Corporation Depositary Shares each representing a 1/1,000th interest in a share of Fixed Rate Noncumulative Perpetual Preferred Stock, Series G
ALL.PRG
$1.25M
5
WALA
Western Alliance Bancorporation
WALA
$1.02M

Top Sells

1
STX icon
Seagate
STX
$21.8M
2
PG icon
Procter & Gamble
PG
$15.4M
3
VR.PRA.CL
Validus Holdings, Ltd.
VR.PRA.CL
$1.69M
4
NS.PRC
NuStar Energy L.P. 9.00% Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units
NS.PRC
$1.56M
5
AXS.PRE icon
AXIS Capital Holdings Ltd Series E
AXS.PRE
$1.48M

Sector Composition

1 Materials 31.72%
2 Financials 21.88%
3 Real Estate 11.19%
4 Industrials 7.45%
5 Consumer Discretionary 6.15%
Name Market Value Portfolio Weight Shares or Principal Shares
Change % 		Capital Flow
MERC icon
1
Mercer International
MERC
$223M
$205M 31.72% 16,480,000 – –
NTP
2
DELISTED
Nam Tai Property Inc.
NTP
$71.9M 11.12% 5,774,800 – –
MTN icon
3
Vail Resorts
MTN
$6.09B
$33.4M 5.17% 150,800 – –
GS icon
4
Goldman Sachs
GS
$226B
$28.1M 4.34% 111,500 – –
RJF icon
5
Raymond James Financial
RJF
$33.8B
$26.8M 4.15% 300,000 – –
AMGN icon
6
Amgen
AMGN
$155B
$24.7M 3.82% 145,000 – –
BRK.A icon
7
Berkshire Hathaway Class A
BRK.A
$1.09T
$24.5M 3.79% 82 – –
SRL icon
8
Scully Royalty
SRL
$78.3M
$17M 2.63% 2,732,477 – –
HLIO icon
9
Helios Technologies
HLIO
$1.8B
$16.1M 2.48% 300,000 – –
SIGI icon
10
Selective Insurance
SIGI
$4.76B
$12.1M 1.88% 200,000 – –
JEF icon
11
Jefferies Financial Group
JEF
$13.4B
$11.6M 1.8% 510,872 – –
BA icon
12
Boeing
BA
$177B
$8.98M 1.39% 27,400 – –
GLW icon
13
Corning
GLW
$57.4B
$8.71M 1.35% 312,550 – –
PFSW
14
DELISTED
PFSweb, Inc.
PFSW
$6.56M 1.01% 750,000 – –
EMR icon
15
Emerson Electric
EMR
$74.3B
$6.08M 0.94% 89,000 – –
WFC icon
16
Wells Fargo
WFC
$263B
$4.61M 0.71% 88,000 – –
VTRB
17
DELISTED
Ventas Realty, Ltd Partnership
VTRB
$4.37M 0.68% 175,000 +10,000 +6% +$250K
LM
18
DELISTED
Legg Mason, Inc.
LM
$4.07M 0.63% 100,000 – –
GPC icon
19
Genuine Parts
GPC
$19.4B
$3.76M 0.58% 41,800 – –
CDK
20
DELISTED
CDK Global, Inc.
CDK
$3.74M 0.58% 58,997 – –
WALA
21
DELISTED
Western Alliance Bancorporation
WALA
$3.56M 0.55% 140,000 +40,000 +40% +$1.02M
IBM icon
22
IBM
IBM
$227B
$3.43M 0.53% 22,374 – –
BX icon
23
Blackstone
BX
$134B
$3.2M 0.49% 100,000 – –
PG icon
24
Procter & Gamble
PG
$368B
$3.12M 0.48% 39,400 -194,500 -83% -$15.4M
TRV icon
25
Travelers Companies
TRV
$61.1B
$2.92M 0.45% 21,000 – –
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