SEC 13F Intelligence

Managers / Q4 2024 · view latest →

IAT REINSURANCE CO LTD.

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

Reported Value
$474M
Q4 2024
Positions
74
Filings on Record
31
2019–present window
Filed
Feb 12, 2025
original filing

Summary

Iat Reinsurance Co Ltd. reported $474M in U.S.-listed holdings across 74 positions for Q4 2024.

The portfolio is heavily concentrated: MERC alone accounts for 22.6% of reported value.

Compared with Q3 2024, the fund opened 5 new positions and exited 3.

Portfolio Metrics

Turnover
+6.5%
vs prior filed quarter
Top-10 Concentration
+75.3%
share of reported value
Largest Position
+22.6%
Mercer International Inc Sbi
New / Exited
5 / 3
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: 68.0%Other: 22.4%PUBLIC: 9.2%Closed-End Fund: 0.2%REIT: 0.1%Other: 0.1%
  • Common Stock · 68.0% · $322M
  • Other · 22.4% · $106M
  • PUBLIC · 9.2% · $44M
  • Closed-End Fund · 0.2% · $816,000
  • REIT · 0.1% · $550,402
  • Other · 0.1% · $445,800

Quarter-over-Quarter Changes full breakdown →

vs Q3 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ZIEGLER COS INC THENEW+49.0K49.0K+$4M$4M
COREBRIDGE FINL INC-CALLABLENEW+80.0K80.0K+$2M$2M
ASPEN INSURANCE HOLDINGS-CALLNEW+80.0K80.0K+$2M$2M
READY CAPITAL CORPNEW+20.0K20.0K+$502,200$502,200
SVB FINL TRNEW+240.0K240.0K+$2,400$2,400
BXBLACKSTONE GROUP INC CLASS ASOLD OUT−73.0K0−$11M$0
SCHWSCHWAB CHARLES CORP NEWSOLD OUT−25.0K0−$2M$0
MEDLEY LLC ESCROWSOLD OUT−40.0K0−$4$0

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

Holdings — Q4 2024

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MERCMERCER INTERNATIONAL INC SBIhistory →Com22.61%$107M16.48M
2RJFRAYMOND JAMES FNCL INChistory →Com9.78%$46M298.1K
3GSGOLDMAN SACHS GROUP INChistory →Com9.09%$43M75.2K
4SCULLY ROYALTY LTDCom6.67%$32M3.42M
5NAM TAI PROPERTY INCCom5.79%$27M5.77M
6NAM TAI G63907-10-2 PRIVATECom5.35%$25M5.34M
7AMGNAMGEN INChistory →Com5.09%$24M92.5K
8SIGISELECTIVE INS GROUP INChistory →Com3.95%$19M200.0K
9GLWCORNING INChistory →Com3.68%$17M367.4K
10MTNVAIL RESORTS INC.history →Com3.32%$16M84.0K
11HLIOHELIOS TECHNOLOGIES INChistory →Com2.83%$13M300.0K
12ARGONAUT GROUP STATUTORY TR - CALLPref2.53%$12M12.0K
13EMREMERSON ELEC COhistory →Com2.09%$10M80.0K
14EXMOCEXXON MOBIL CORPhistory →Com1.81%$9M79.6K
15DELPHI FINANCIAL GROUP - CALLABLEPref1.71%$8M328.8K
16TENNESSEE VALLEY AUTHORITYPref1.22%$6M260.0K
17AMDADVANCED MICRO DEVICES INCCom0.87%$4M33.9K
18ZIEGLER COS INC THECom0.86%$4M49.0K
19COBANK ACBPref0.77%$4M36.3K
20EAGLE POINT CREDIT CO-CALLABLEPref0.58%$3M120.0K
21TENNESSEE VALLEY AUTHORITY PARRSPref0.57%$3M120.0K
22GENERAL ELECTRIC COCom0.53%$3M15.1K
23CHVCHEVRON CORPORATIONCom0.49%$2M16.0K
24OXFORD LANE CAP CORPPref0.43%$2M80.0K
25COREBRIDGE FINL INC-CALLABLEPref0.43%$2M80.0K
26ASPEN INSURANCE HOLDINGS-CALLPref0.43%$2M80.0K
27AFFILIATED MANAGERS GROUP INC-CALLPref0.42%$2M80.0K
28JOHNSON CTLS INTL PLCCom0.40%$2M23.9K
29MCDMCDONALDS CORPCom0.38%$2M6.3K
30TE CONNECTIVITY COMCom0.38%$2M12.5K
31NEWTEKONE INC -CALLABLEPref0.33%$2M60.0K
32TRINITY CAPITAL INC - CALLABLEPref0.32%$2M60.0K
33AXIS CAPITAL HOLDINGS-CALLABLEPref0.30%$1M70.0K
34GEVGE VERNOVA INCCom0.26%$1M3.8K
35US BANCORP -CALLABLEPref0.26%$1M60.0K
36B RILEY FINANCIAL INC - CALLABLEPref0.25%$1M140.0K
37SPBSPECTRUM BRANDS HOLDINGS INCCom0.23%$1M12.8K
38PHIGPHI GROUP INCCom0.21%$994,78639.7K
39BANK OZKPref0.21%$983,70060.0K
40PGPROCTER & GAMBLE COCom0.20%$955,6055.7K
41PROSPECT CAP CORPPref0.19%$882,00050.0K
42XXCHNXXCHINA FUND INCCom0.17%$816,00068.4K
43CUSTOMERS BANCORP INCPref0.17%$784,80040.0K
44HUDSON PACIFIC PROPERTIES INC-CALLPref0.16%$763,40055.0K
45BRK/ABERKSHIRE HATHAWAY INC DEL CL ACom0.14%$680,9201
46HEARTLAND FINANCIAL USA-CALLABLEPref0.12%$563,96322.5K
47NNNNATIONAL RETAIL PPTYS INCCom0.11%$531,05013.0K
48SCE TR VIII-CALLABLEPref0.11%$510,20020.0K
49ALGONQUIN POWER & UTILITIES CORPPref0.11%$504,60020.0K
50GREAT ELM CAP CORP-CALLABLEPref0.11%$504,31820.0K

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 ↗.