CR
Capital Returns Management, LLC
ContrarianQuality / disciplined sizing
Total reported value
$38.7M
Reporting period: 2020-09-30 · Number of holdings: 12
Capital Returns Management, LLC disclosed 12 holdings in its latest 13F filing for the period ending 2020-09-30, with total reported value of $38.7M and a quarterly turnover rate of 51.1%.
Personality snowflake
- Concentration
- 49.88
- Portfolio Stability
- 51.1
- Momentum/Contrarian
- 0
- Sector conviction
- 0
- Diversification
- 24
- Sizing Uniformity
- 92.64
Recent moves
Add G94787101
-14.8% $1.4M
Trim ACGL
-50.0% -$2.1M
Trim RNR
-47.2% -$1.5M
Add G0464B107
+10.4% $401.0K
Add VOYA
0.0% $52.0K
Trim ESGRP
-25.0% -$506.0K
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | ✓ | Watford Holdings LTD | Stock-Other | 25.40% | +6.01% | -14.84% | |
| 2 | ✓ | Stock-Other | 12.36% | +2.24% | +10.41% | ||
| 3 | FFG | Fbl Financial Group Inc-cl A | Stock-Other | 9.22% | +9.22% | NEW | |
| 4 | JRVR | James River Group Holdings, Inc. | Stock-Other | 9.20% | -0.14% | -11.11% | |
| 5 | CB | Chubb Limited | Stock-Financials | 9.00% | +0.24% | — | |
| 6 | PROS | Prosight Global INC | Stock-Other | 7.01% | +7.01% | NEW | |
| 7 | PTVCB | Protective Insurance Corp- B | Stock-Other | 6.95% | +0.19% | +5.36% | |
| 8 | ACGL | Arch Capital Group Ltd. | Stock-Financials | 5.66% | -4.25% | -50.00% | |
| 9 | VOYA | Voya Financial INC | Stock-Financials | 5.06% | +0.66% | — | |
| 10 | ESGRP | Enstar Group Limited - Deposita | Stock-Other | 5.00% | -0.64% | -25.00% | |
| 11 | RNR | RenaissanceRe Holdings Ltd. | Stock-Financials | 4.16% | -2.94% | -47.22% | |
| 12 | PTVCA | Protective Insurance Corp- A | Stock-Other | 0.97% | +0.10% | +23.52% |
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2020-09-30 | 12 | $38.7M | 51 | |
| 2020-06-30 | 11 | $43.4M | 100 | |
| 2020-03-31 | 13 | $39.3M | 100 | |
| 2019-12-31 | 15 | $54.9M | 46 | |
| 2019-09-30 | 14 | $60.6M | 100 | |
| 2019-06-30 | 23 | $175.6M | 44 | |
| 2019-03-31 | 24 | $186.7M | 59 | |
| 2018-12-31 | 21 | $179.1M | 43 | |
| 2018-09-30 | 25 | $213.8M | 54 | |
| 2018-06-30 | 27 | $295.7M | 53 | |
| 2018-03-31 | 21 | $327.6M | 100 | |
| 2017-12-31 | 19 | $322.0M | 52 | |
| 2017-09-30 | 21 | $343.5M | 62 | |
| 2017-06-30 | 21 | $298.5M | 51 | |
| 2017-03-31 | 22 | $332.2M | 51 | |
| 2016-12-31 | 20 | $234.5M | 65 | |
| 2016-09-30 | 19 | $210.4M | 35 | |
| 2016-06-30 | 18 | $178.8M | 42 | |
| 2016-03-31 | 19 | $234.6M | 71 | |
| 2015-12-31 | 18 | $204.8M | 38 | |
| 2015-09-30 | 24 | $237.8M | 100 | |
| 2015-06-30 | 22 | $168.5M | 0 | |
| 2015-03-31 | 18 | $154.5M | 40 | |
| 2014-12-31 | 17 | $137.5M | 58 | |
| 2014-09-30 | 21 | $135.2M | 30 | |
| 2014-06-30 | 18 | $118.1M | 49 | |
| 2014-03-31 | 20 | $115.4M | 41 | |
| 2013-12-31 | 20 | $109.1M | 0 |
Holding changes this quarter
Capital Returns Management, LLC's most significant position changes for 2020-09-30: Sold out: Benefytt Technologies INC (HIIQEUR); New buy: Fbl Financial Group Inc-cl A (FFG); New buy: Prosight Global INC (PROS); Trim: Watford Holdings LTD — shares -14.84%; Trim: Arch Capital Group Ltd. (ACGL) — shares -50.00%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ✓ | Watford Holdings LTD | +6% | -14.84% | Trim |
| 2 | ✓ | +2.2% | +10.41% | Add | |
| 3 | VOYA | Voya Financial INC | +0.7% | — | Unchanged |
| 4 | CB | Chubb Limited | +0.2% | — | Unchanged |
| 5 | PTVCB | Protective Insurance Corp- B | +0.2% | +5.36% | Add |
| 6 | PTVCA | Protective Insurance Corp- A | +0.1% | +23.52% | Add |
| 7 | JRVR | James River Group Holdings, Inc. | -0.1% | -11.11% | Trim |
| 8 | ESGRP | Enstar Group Limited - Deposita | -0.6% | -25.00% | Trim |
| 9 | RNR | RenaissanceRe Holdings Ltd. | -2.9% | -47.22% | Trim |
| 10 | ACGL | Arch Capital Group Ltd. | -4.3% | -50.00% | Trim |
| 11 | HIIQEUR | Benefytt Technologies INC | — | EXIT | Sold out |
| 12 | FFG | Fbl Financial Group Inc-cl A | — | NEW | New buy |
| 13 | PROS | Prosight Global INC | — | NEW | New buy |
FAQ
What is Capital Returns Management, LLC and what type of investor is it?
Capital Returns Management, LLC is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2020-09-30), the firm manages a tracked equity portfolio valued at approximately $38.7M, spread across 12 disclosed positions.
What are Capital Returns Management, LLC's largest equity positions?
Based on the latest 13F filing, Capital Returns Management, LLC's top holdings by market value are:
1. Watford Holdings LTD — $9.8M (25.4%)
2. — $4.8M (12.4%)
3. Fbl Financial Group Inc-cl A (FFG) — $3.6M (9.2%)
4. James River Group Holdings, Inc. (JRVR) — $3.6M (9.2%)
5. Chubb Limited (CB) — $3.5M (9.0%)
What changes did Capital Returns Management, LLC make in its most recent portfolio filing?
In the latest reported quarter, Capital Returns Management, LLC made 11 notable position adjustments: 2 new positions were initiated, 3 existing holdings were added to, 5 positions were partially reduced, and 1 were completely exited. The largest of these moves: Sold out: Benefytt Technologies INC (HIIQEUR); New buy: Fbl Financial Group Inc-cl A (FFG); New buy: Prosight Global INC (PROS); Trim: Watford Holdings LTD — shares -14.84%; Trim: Arch Capital Group Ltd. (ACGL) — shares -50.00%
What sectors does Capital Returns Management, LLC focus on?
Capital Returns Management, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 100.0%