SEC 13F Intelligence

Managers / Q1 2023 · view latest →

IAT REINSURANCE CO LTD.

CIK 0001633625 · 48 WALL STREEL, NEW YORK, NY, 10005 · (919)831-8169

Reported Value
$489M
Q1 2023
Positions
79
Filings on Record
31
2019–present window
Filed
May 10, 2023
original filing

Summary

Iat Reinsurance Co Ltd. reported $489M in U.S.-listed holdings across 79 positions for Q1 2023.

The portfolio is heavily concentrated: MERC alone accounts for 33.0% of reported value.

Compared with Q4 2022, the fund opened 5 new positions and exited 4.

Portfolio Metrics

Turnover
+6.1%
vs prior filed quarter
Top-10 Concentration
+72.4%
share of reported value
Largest Position
+33.0%
Mercer International Inc Sbi
New / Exited
5 / 4
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $526MQ4 ’18Q1 ’19: $589MQ2 ’19: $633MQ3 ’19: $582MQ4 ’19: $548MQ4 ’19Q1 ’20: $353MQ2 ’20: $365MQ3 ’20: $405MQ4 ’20: $489MQ4 ’20Q1 ’21: $657MQ2 ’21: $742MQ3 ’21: $667MQ4 ’21: $609MQ4 ’21Q1 ’22: $1.4BQ2 ’22: $549MQ3 ’22: $520MQ4 ’22: $506MQ4 ’22Q1 ’23: $489MQ2 ’23: $518MQ3 ’23: $505MQ4 ’23: $541MQ4 ’23Q1 ’24: $225MQ2 ’24: $474MQ3 ’24: $442MQ4 ’24: $474MQ4 ’24Q1 ’25: $479MQ2 ’25: $445MQ3 ’25: $475MQ4 ’25: $341MQ4 ’25Q1 ’26: $310Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 79.4%Other: 10.8%PUBLIC: 8.4%PRIVATE: 0.9%Closed-End Fund: 0.2%Other: 0.2%
  • Common Stock · 79.4% · $388M
  • Other · 10.8% · $53M
  • PUBLIC · 8.4% · $41M
  • PRIVATE · 0.9% · $4M
  • Closed-End Fund · 0.2% · $874,816
  • Other · 0.2% · $1M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
DCP MIDSTREAM LPNEW+120.0K120.0K+$3M$3M
ENERGY TRANSFER L PNEW+80.0K80.0K+$2M$2M
VTSVITESSE ENERGY INCNEW+42.5K42.5K+$808,185$808,185
DCP MIDSTREAM LP-CALLABLENEW+30.0K30.0K+$747,000$747,000
GEHCGE HEALTHCARE TECHNOLOGIES INCNEW+5.0K5.0K+$413,431$413,431
INTEGRYS ENERGY GROUP-CALLABLEADDED+40.0K60.0K+$1M$1M
BLIAQBB LIQUIDATING INC - CLASS ASOLD OUT−54.2K0−$125$0
CDVIQCAL DIVE INTERNATIONAL INCSOLD OUT−500.0K0−$50$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2023

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MERCMERCER INTERNATIONAL INC SBIhistory →Com32.96%$161M16.48M
2GSGOLDMAN SACHS GROUP INChistory →Com7.46%$36M111.5K
3RJFRAYMOND JAMES FNCL INChistory →Com5.69%$28M298.1K
4SCULLY ROYALTY LTDCom4.68%$23M3.42M
5AMGNAMGEN INChistory →Com4.58%$22M92.5K
6MTNVAIL RESORTS INC.history →Com4.02%$20M84.0K
7HLIOHELIOS TECHNOLOGIES INChistory →Com4.01%$20M300.0K
8SIGISELECTIVE INS GROUP INChistory →Com3.90%$19M200.0K
9GLWCORNING INChistory →Com2.65%$13M367.4K
10NAM TAI PROPERTY INCCom2.48%$12M5.77M
11ARGONAUT GROUP STATUTORY TR - CALLPref2.46%$12M12.0K
12JEFJEFFERIES FINANCIAL GROUP INChistory →Com2.34%$11M360.9K
13BABOEING COhistory →Com1.84%$9M42.4K
14EXMOCEXXON MOBIL CORPhistory →Com1.79%$9M79.6K
15DTE ENERGY CO - CALLABLEPref1.63%$8M340.0K
16EMREMERSON ELEC COhistory →Com1.43%$7M80.0K
17AMDADVANCED MICRO DEVICES INChistory →Com1.38%$7M68.9K
18AGRIBANK FCB - CALLABLEPref0.93%$5M45.3K
19FARM CREDIT BK OF TEXAS-CALL-144APref0.90%$4M44.0K
20COBANK ACBPref0.71%$3M36.3K
21BXBLACKSTONE GROUP INC CLASS ACom0.68%$3M38.0K
22PFSWUSDPFSWEB INCCom0.65%$3M750.0K
23AT&T INC - CALLABLEPref0.63%$3M130.0K
24DCP MIDSTREAM LPPref0.61%$3M120.0K
25VOLKSWAGEN AGCom0.56%$3M16.0K
26EAGLE POINT CREDIT CO-CALLABLEPref0.54%$3M120.0K
27CHVCHEVRON CORPORATIONCom0.53%$3M16.0K
28DIAMOND OFFSHORE DRILLING INCCom0.51%$3M208.6K
29DISDISNEY WALT COCom0.47%$2M23.1K
30B RILEY FINANCIAL INC - CALLABLEPref0.46%$2M140.0K
31WFCWELLS FARGO & CO NEW COM STKCom0.38%$2M50.0K
32ENERGY TRANSFER L PPref0.38%$2M80.0K
33MCDMCDONALDS CORPCom0.36%$2M6.3K
34DELPHI FINANCIAL GROUP - CALLABLEPref0.34%$2M77.8K
35TE CONNECTIVITY LIMITEDCom0.34%$2M12.5K
36AXIS CAPITAL HOLDINGS-CALLABLEPref0.31%$1M70.0K
37INTEGRYS ENERGY GROUP-CALLABLEPref0.30%$1M60.0K
38GENERAL ELECTRIC COCom0.30%$1M15.1K
39JOHNSON CTLS INTL PLCCom0.29%$1M23.9K
40SCHWSCHWAB CHARLES CORP NEWCom0.27%$1M25.0K
41US BANCORP -CALLABLEPref0.26%$1M60.0K
42BANK OZKPref0.19%$944,10060.0K
43XXCHNXXCHINA FUND INCCom0.18%$874,81668.4K
44SPBSPECTRUM BRANDS HOLDINGS INCCom0.17%$847,55012.8K
45PGPROCTER & GAMBLE COCom0.17%$847,5335.7K
46VTSVITESSE ENERGY INCCom0.17%$808,18542.5K
47PROSPECT CAP CORPPref0.16%$800,00050.0K
48FOXFOX CORP CLASS BCom0.16%$783,62725.0K
49DCP MIDSTREAM LP-CALLABLEPref0.15%$747,00030.0K
50OFFICE PPTYS INCOME TRPref0.14%$676,00040.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$310M67May 14, 202613F-HRchanges · EDGAR ↗
Q4 2025$341M71Feb 10, 202613F-HRchanges · EDGAR ↗
Q3 2025$475M86Nov 10, 202513F-HRchanges · EDGAR ↗
Q2 2025$445M84Aug 4, 202513F-HRchanges · EDGAR ↗
Q1 2025$479M76May 7, 202513F-HRchanges · EDGAR ↗
Q4 2024$474M74Feb 12, 202513F-HRchanges · EDGAR ↗
Q3 2024$442M72Nov 8, 202413F-HRchanges · EDGAR ↗
Q2 2024$474M71Aug 2, 202413F-HRchanges · EDGAR ↗
Q1 2024$225M81May 9, 202413F-HRchanges · EDGAR ↗
Q4 2023$541M83Feb 8, 202413F-HRchanges · EDGAR ↗
Q3 2023$505M78Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$518M83Aug 4, 202313F-HRchanges · EDGAR ↗
Q1 2023$489M79May 10, 202313F-HRchanges · EDGAR ↗
Q4 2022$506M78Feb 9, 202313F-HRchanges · EDGAR ↗
Q3 2022$520M80Nov 7, 202213F-HRchanges · EDGAR ↗
Q2 2022$549M89Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$1.4B108May 9, 202213F-HRchanges · EDGAR ↗
Q4 2021$609M77Feb 11, 202213F-HRchanges · EDGAR ↗
Q3 2021$667M80Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$742M95Aug 13, 2021RESTATEMENTchanges · EDGAR ↗
Q1 2021$657M106May 11, 202113F-HRchanges · EDGAR ↗
Q4 2020$489M82Feb 1, 202113F-HRchanges · EDGAR ↗
Q3 2020$405M90Nov 13, 202013F-HRchanges · EDGAR ↗
Q2 2020$365M85Aug 12, 202013F-HRchanges · EDGAR ↗
Q1 2020$353M90May 11, 202013F-HRchanges · EDGAR ↗
Q4 2019$548M87Feb 12, 202013F-HRchanges · EDGAR ↗
Q3 2019$582M122Nov 15, 201913F-HRchanges · EDGAR ↗
Q2 2019$633M121Aug 7, 201913F-HRchanges · EDGAR ↗
Q1 2019$589M127May 14, 201913F-HRchanges · EDGAR ↗
Q4 2018$526M134Feb 8, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 10 additional managers.

  • CACTI ASSET MANAGEMENT LLC028-14121
  • Acceptance Casualty Insurance Company
  • Acceptance Indemnity Insurance Company
  • Commercial Alliance Insurance Company
  • Harco National Insurance Company
  • Occidetnal Fire and Casualty Company of North Carolina
  • SafePort Insurance Company
  • Transguard Insurance Company of America, Inc.
  • Wishire Insurance Company
  • International Fidelity Insurance Company

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.