Managers / Q3 2020
Mountain Road Advisors, LLC
CIK 0001753564 · 437 MADISON AVE, 21ST FLOOR, NEW YORK, NY, 10022 · 646-256-9147
Summary
Mountain Road Advisors, LLC reported $113M in U.S.-listed holdings across 17 positions for Q3 2020.
Its largest position, YUSD, represents 12.2% of the portfolio.
Compared with Q2 2020, the fund opened 3 new positions and exited 1.
Portfolio Metrics
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
Portfolio Composition
- Common Stock · 56.5% · $64M
- Other · 43.5% · $49M
Quarter-over-Quarter Changes full breakdown →
vs Q2 2020 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| TREAN INS GROUP INC | NEW | +275.0K | 275.0K | +$4M | $4M |
| CHUBB LIMITED | NEW | +25.0K | 25.0K | +$3M | $3M |
| PROASSURANCE CORP | NEW | +10.0K | 10.0K | +$147,000 | $147,000 |
| EIGEMPLOYERS HOLDINGS INC | ADDED | +104.8K | 112.2K | +$3M | $4M |
| ENSTAR GROUP LIMITED | SOLD OUT | −5.0K | 0 | −$764,000 | $0 |
| MRSHMARSH & MCLENNAN COS INC | TRIMMED | −10.0K | 10.0K | −$981,000 | $1M |
| PGRPROGRESSIVE CORP | TRIMMED | −30.0K | 45.0K | −$2M | $4M |
| RENAISSANCERE HLDGS LTD | TRIMMED | −20.0K | 47.2K | −$3M | $9M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2020
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | YUSDALLEGHANY CORP DELhistory → | COM | 12.19% | $14M | 26.5K |
| 2 | ARCH CAP GROUP LTD | ORD | 12.05% | $14M | 444.3K |
| 3 | MKLMARKEL CORPhistory → | COM | 10.59% | $12M | 11.5K |
| 4 | AFGAMERICAN FINL GROUP INC OHIOhistory → | COM | 9.95% | $11M | 185.7K |
| 5 | ARGO GROUP INTL HLDGS LTD | COM | 9.01% | $10M | 304.7K |
| 6 | RENAISSANCERE HLDGS LTD | COM | 7.50% | $9M | 47.2K |
| 7 | WRBBERKLEY W R CORPhistory → | COM | 7.35% | $8M | 135.0K |
| 8 | JAMES RIV GROUP LTD | COM | 7.20% | $8M | 176.2K |
| 9 | RLIRLI CORPhistory → | COM | 5.69% | $6M | 73.2K |
| 10 | TREAN INS GROUP INC | COM | 3.78% | $4M | 275.0K |
| 11 | PGRPROGRESSIVE CORPhistory → | COM | 3.59% | $4M | 45.0K |
| 12 | EIGEMPLOYERS HOLDINGS INChistory → | COM | 3.22% | $4M | 112.2K |
| 13 | BWINBRP GROUP INChistory → | COM CL A | 2.86% | $3M | 186.0K |
| 14 | CHUBB LIMITED | COM | 2.81% | $3M | 25.0K |
| 15 | INTL GNRL INSURANCE HLDNGS L | SHS | 1.05% | $1M | 182.3K |
| 16 | MRSHMARSH & MCLENNAN COS INChistory → | COM | 1.03% | $1M | 10.0K |
| 17 | PROASSURANCE CORP | COM | 0.13% | $147,000 | 10.0K |
Filing History
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 ↗.