Institutional Manager · CIK 0001633625
IAT REINSURANCE CO LTD.
New York, NY · File #028-16551
Latest AUM
$341.5M
Positions
71
Top-10 Concentration
68.7%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| EXITED | RAYMOND JAMES FNCL INC | 754730109 | -298,125 | -$51.5M | $0 |
| REDUCE | GOLDMAN SACHS GROUP INC | GSCE | -54,150 | -$47.6M | +$6.2M |
| EXITED | SELECTIVE INS GROUP INC | 816300107 | -200,000 | -$16.2M | $0 |
| EXITED | EMERSON ELEC CO | 291011104 | -80,000 | -$10.5M | $0 |
| EXITED | ZIEGLER COS INC THE | 989506308 | -48,972 | -$4.1M | $0 |
| EXITED | CHEVRON CORPORATION | 166764100 | -16,000 | -$2.5M | $0 |
| NEW | XCEL ENERGY INC-CALLABLE | XELLL | +80,000 | +$2.0M | $0 |
| NEW | TANSCANADA PIPELINE STR | 893526681 | +80,000 | +$2.0M | $0 |
| EXITED | MCDONALDS CORP | 580135101 | -6,250 | -$1.9M | $0 |
| REDUCE | COMERICA INC-CALLABLE | 200340701 | -60,000 | -$1.6M | +$75,200 |
Sector Allocation
Filing History
- 13F COMBINATION REPORTQ/E Dec 202571 pos · $341.5M
- 13F COMBINATION REPORTQ/E Sep 202586 pos · $474.9M
- 13F COMBINATION REPORTQ/E Jun 202584 pos · $445.0M
- 13F COMBINATION REPORTQ/E Mar 202576 pos · $479.0M
- 13F COMBINATION REPORTQ/E Dec 202474 pos · $473.7M
- 13F COMBINATION REPORTQ/E Sep 202472 pos · $441.7M
- 13F COMBINATION REPORTQ/E Jun 202471 pos · $474.0M
- 13F COMBINATION REPORTQ/E Mar 202481 pos · $225.0M
- 13F COMBINATION REPORTQ/E Dec 202378 pos · $504.8M
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | MERCER INTERNATIONAL INC SBI | 588056101 | 17,220,000 | $34.1M | 10.12% |
| 2 | CORNING INC | GLW | 368,350 | $32.3M | 9.57% |
| 3 | AMGEN INC | AMGN | 92,500 | $30.3M | 8.99% |
| 4 | SCULLY ROYALTY LTD | SRL | 3,416,664 | $29.2M | 8.67% |
| 5 | NAM TAI PROPERTY INC | NTPIF | 5,774,800 | $24.8M | 7.37% |
| 6 | NAM TAI G63907-10-2 PRIVATE | G63907PP1 | 5,336,452 | $22.9M | 6.81% |
| 7 | GOLDMAN SACHS GROUP INC | GSCE | 21,050 | $18.5M | 5.49% |
| 8 | HELIOS TECHNOLOGIES INC | HLIO | 300,000 | $16.0M | 4.76% |
| 9 | ARGONAUT GROUP STATUTORY TR - CALL | 8AMCSFQW9 | 12,000 | $12.0M | 3.56% |
| 10 | VAIL RESORTS INC. | MTN | 84,000 | $11.2M | 3.31% |
| 11 | EXXON MOBIL CORP | XOM | 79,600 | $9.6M | 2.84% |
| 12 | DELPHI FINANCIAL GROUP - CALLABLE | 247131303 | 328,790 | $8.1M | 2.39% |
| 13 | ADVANCED MICRO DEVICES INC | AMD | 33,936 | $7.3M | 2.16% |
| 14 | TENNESSEE VALLEY AUTHORITY | TVC | 260,000 | $6.4M | 1.89% |
| 15 | WINTRUST FINANCIAL CORP-CALL | 97650W702 | 220,000 | $5.7M | 1.70% |
| 16 | ALGONQUIN POWER & UTILITIES CORP | AQNB | 200,000 | $5.1M | 1.52% |
| 17 | GENERAL ELECTRIC CO | 369604301 | 15,125 | $4.7M | 1.38% |
| 18 | KKR & CO INC | KKRT | 180,000 | $4.6M | 1.37% |
| 19 | WESBANCO INC - CALLABLE | WSBCO | 130,000 | $3.4M | 1.00% |
| 20 | TENNESSEE VALLEY AUTHORITY PARRS | 880591300 | 120,000 | $2.9M | 0.86% |