13F COMBINATION REPORT
IAT REINSURANCE CO LTD.
Quarter ended Q1 2023 · Filed February 9, 2023 · Accession 0001214659-23-001866
Total Value
$505.8M
Positions
78
Other Managers
9
Confidential Omitted
No
Holdings (78)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | MERCER INTERNATIONAL INC SBI | 588056101 | 16,480,000 | $191.8M | 37.93% |
| 2 | GOLDMAN SACHS GROUP INC | GSCE | 111,500 | $38.3M | 7.57% |
| 3 | RAYMOND JAMES FNCL INC | 754730109 | 298,125 | $31.9M | 6.30% |
| 4 | SCULLY ROYALTY LTD | SRL | 3,416,664 | $26.3M | 5.21% |
| 5 | AMGEN INC | AMGN | 92,500 | $24.3M | 4.80% |
| 6 | VAIL RESORTS INC. | MTN | 84,000 | $20.0M | 3.96% |
| 7 | SELECTIVE INS GROUP INC | 816300107 | 200,000 | $17.7M | 3.50% |
| 8 | HELIOS TECHNOLOGIES INC | HLIO | 300,000 | $16.3M | 3.23% |
| 9 | JEFFERIES FINANCIAL GROUP INC | 47233W109 | 360,872 | $12.4M | 2.45% |
| 10 | ARGONAUT GROUP STATUTORY TR - CALL | 8AMCSFQW9 | 12,000 | $12.0M | 2.37% |
| 11 | CORNING INC | GLW | 367,350 | $11.7M | 2.32% |
| 12 | EXXON MOBIL CORP | XOM | 79,600 | $8.8M | 1.74% |
| 13 | EMERSON ELEC CO | EMR | 80,000 | $7.7M | 1.52% |
| 14 | NAM TAI PROPERTY INC | NTPIF | 5,774,800 | $7.7M | 1.52% |
| 15 | DTE ENERGY CO - CALLABLE | DTK | 340,000 | $7.3M | 1.44% |
| 16 | BOEING CO | BA-PA | 27,400 | $5.2M | 1.03% |
| 17 | PFSWEB INC | 717098206 | 750,000 | $4.6M | 0.91% |
| 18 | AGRIBANK FCB - CALLABLE | 00850L203 | 45,300 | $4.5M | 0.89% |
| 19 | ADVANCED MICRO DEVICES INC | AMD | 68,936 | $4.5M | 0.88% |
| 20 | COBANK ACB | 19075Q862 | 36,296 | $3.5M | 0.69% |
| 21 | CHEVRON CORPORATION | CVX | 16,000 | $2.9M | 0.57% |
| 22 | BLACKSTONE GROUP INC CLASS A | BX | 38,000 | $2.8M | 0.56% |
| 23 | VOLKSWAGEN AG | 928CNV760 | 16,000 | $2.5M | 0.50% |
| 24 | B RILEY FINANCIAL INC - CALLABLE | 05580M819 | 140,000 | $2.5M | 0.50% |
| 25 | EAGLE POINT CREDIT CO-CALLABLE | ECCW | 120,000 | $2.5M | 0.50% |
| 26 | FARM CREDIT BK OF TEXAS-CALL-144A | 30767E406 | 24,000 | $2.4M | 0.47% |
| 27 | DIAMOND OFFSHORE DRILLING INC | 25271C201 | 208,583 | $2.2M | 0.43% |
| 28 | AT&T INC - CALLABLE | T-PC | 100,000 | $2.2M | 0.43% |
| 29 | SCHWAB CHARLES CORP NEW | SCHW-PJ | 25,000 | $2.1M | 0.41% |
| 30 | WELLS FARGO & CO NEW COM STK | 949746101 | 50,000 | $2.1M | 0.41% |
| 31 | DISNEY WALT CO | 254687106 | 23,070 | $2.0M | 0.40% |
| 32 | DELPHI FINANCIAL GROUP - CALLABLE | 247131303 | 77,797 | $1.7M | 0.34% |
| 33 | MCDONALDS CORP | MCD | 6,250 | $1.6M | 0.33% |
| 34 | JOHNSON CTLS INTL PLC | G51502105 | 23,874 | $1.5M | 0.30% |
| 35 | TE CONNECTIVITY LIMITED | TEL | 12,500 | $1.4M | 0.28% |
| 36 | AXIS CAPITAL HOLDINGS-CALLABLE | AXS-PE | 70,000 | $1.4M | 0.27% |
| 37 | GENERAL ELECTRIC CO | 369604301 | 15,125 | $1.3M | 0.25% |
| 38 | US BANCORP -CALLABLE | 902973668 | 60,000 | $1.1M | 0.22% |
| 39 | BANK OZK | OZKAP | 60,000 | $945,600 | 0.19% |
| 40 | CHINA FUND INC | 169373107 | 68,399 | $883,715 | 0.17% |
| 41 | PROCTER & GAMBLE CO | 742718109 | 5,700 | $863,892 | 0.17% |
| 42 | CUSTOMERS BANCORP INC | CUBB | 40,000 | $824,000 | 0.16% |
| 43 | SPECTRUM BRANDS HOLDINGS INC | SPB | 12,799 | $779,715 | 0.15% |
| 44 | PROSPECT CAP CORP | PSEC-PA | 50,000 | $747,500 | 0.15% |
| 45 | FOX CORP CLASS B | FOX | 25,028 | $712,047 | 0.14% |
| 46 | OFFICE PPTYS INCOME TR | 67623C208 | 40,000 | $687,308 | 0.14% |
| 47 | HUDSON PACIFIC PROPERTIES INC-CALL | HPP-PC | 55,000 | $676,500 | 0.13% |
| 48 | NATIONAL RETAIL PPTYS INC | NNN | 13,000 | $594,880 | 0.12% |
| 49 | HEARTLAND FINANCIAL USA-CALLABLE | 42234Q201 | 22,500 | $573,300 | 0.11% |
| 50 | DUKE ENERGY CORP - CALLABLE | DUKB | 25,000 | $570,000 | 0.11% |
| 51 | BP P.L.C. SPONSORED ADR - CMN | BPPFF | 15,000 | $523,950 | 0.10% |
| 52 | BERKSHIRE HATHAWAY INC DEL CL A | BRK-A | 1 | $468,711 | 0.09% |
| 53 | INTEGRYS ENERGY GROUP-CALLABLE | 45822P204 | 20,000 | $465,000 | 0.09% |
| 54 | ATLANTICUS HOLDINS CORP - CALL | ATLCZ | 20,000 | $420,000 | 0.08% |
| 55 | SLM CORP PFD SERIES B | SLMBP | 7,000 | $400,750 | 0.08% |
| 56 | CONIFER HOLDINGS INC | PRHIZ | 250,000 | $392,500 | 0.08% |
| 57 | PHI GROUP INC | 69360B104 | 39,712 | $377,264 | 0.07% |
| 58 | CORSA COAL CORP | 22041E609 | 2,226,000 | $327,890 | 0.06% |
| 59 | ABBVIE INC | ABBV | 1,948 | $314,816 | 0.06% |
| 60 | INTL BUSINESS MACHINES CORP | INTR | 1,500 | $211,335 | 0.04% |
| 61 | LADENBURG THALMAN FIN SVCS INC | 50575Q300 | 5,000 | $87,500 | 0.02% |
| 62 | MYMETICS CORP | 62856A102 | 2,186,473 | $65,594 | 0.01% |
| 63 | WESTINGHOUSE AIR BRAKE TECH CORP | 929740108 | 647 | $64,577 | 0.01% |
| 64 | ADIENT LTD | ADNT | 1,193 | $41,385 | 0.01% |
| 65 | CBL & ASSOC PPTYS INC | 124830878 | 658 | $15,187 | 0.00% |
| 66 | NOW INC DE | DNOW | 1,100 | $13,970 | 0.00% |
| 67 | VISTRA ENERGY CORP | VST | 33,717 | $8,089 | 0.00% |
| 68 | ESC PFD MEDLEY LLC ESCROW | 585ESC015 | 40,000 | $6,404 | 0.00% |
| 69 | MEDLEY LLC ESCROW | 585ESC023 | 40,000 | $6,400 | 0.00% |
| 70 | KAISER ALUM CORP DEPOSITARY S CMN | KALU | 70 | $5,317 | 0.00% |
| 71 | KYNDRYL HLDGS INC | KD | 300 | $3,336 | 0.00% |
| 72 | TIDWATER INC WTS SERIES A 7/31/23 | TDGMW | 903 | $984 | 0.00% |
| 73 | TIDEWATER INC WTS SERIES B 7/31/23 | TDGMW | 976 | $647 | 0.00% |
| 74 | WELLS FARGO & COMPANY PFT SERIES J | WFC-PZ | 387 | $538 | 0.00% |
| 75 | BB LIQUIDATING INC - CLASS A | 05532D107 | 54,211 | $125 | 0.00% |
| 76 | CAL DIVE INTERNATIONAL INC | 12802T101 | 500,000 | $50 | 0.00% |
| 77 | BB LIQUIDATING INC - CLASS B | 05532D206 | 54,211 | $5 | 0.00% |
| 78 | ROOMSTORE INC - CMN | 77638R108 | 43,661 | $4 | 0.00% |