Capital Returns Management 13F annual report

Capital Returns Management is an investment fund managing more than $38.7 million ran by Ronald Bobman. There are currently 11 companies in Mr. Bobman’s portfolio. The largest investments include Watford Hldgs Ltd and Argo Group Intl Hldgs Ltd, together worth $14.6 million.

$38.7 million Assets Under Management (AUM)

As of 9th November 2020, Capital Returns Management’s top holding is 428,902 shares of Watford Hldgs Ltd currently worth over $9.84 million and making up 25.4% of the portfolio value. In addition, the fund holds 139,004 shares of Argo Group Intl Hldgs Ltd worth $4.79 million. The third-largest holding is Fbl Finl Group Inc worth $3.57 million and the next is James Riv Group Ltd worth $3.56 million, with 80,000 shares owned.

Currently, Capital Returns Management's portfolio is worth at least $38.7 million. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Capital Returns Management

The Capital Returns Management office and employees reside in New York, New York. According to the last 13-F report filed with the SEC, Ronald Bobman serves as the PRESIDENT at Capital Returns Management.

Recent trades

In the most recent 13F filing, Capital Returns Management revealed that it had opened a new position in Fbl Finl Group Inc and bought 74,107 shares worth $3.57 million.

The investment fund also strengthened its position in Argo Group Intl Hldgs Ltd by buying 13,101 additional shares. This makes their stake in Argo Group Intl Hldgs Ltd total 139,004 shares worth $4.79 million.

On the other hand, there are companies that Capital Returns Management is getting rid of from its portfolio. Capital Returns Management closed its position in Benefytt Technologies Inc on 16th November 2020. It sold the previously owned 375,000 shares for $7.67 million. Ronald Bobman also disclosed a decreased stake in Watford Hldgs Ltd by 0.1%. This leaves the value of the investment at $9.84 million and 428,902 shares.

One of the smallest hedge funds

The two most similar investment funds to Capital Returns Management are Norwest Venture Partners X L P and Mayfair Advisory. They manage $38.6 million and $38.6 million respectively.

Ronald Bobman investment strategy

Capital Returns Management’s portfolio is diversified across 2 sectors. Currently, their heaviest sector is Finance — making up 17.1% of the total portfolio value. The fund focuses on investments in the United States as 18.2% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are small-cap stocks. Stocks with a size of more than $100 million in market cap make up 9% of the total holdings value. On the other hand, large-cap stocks make up only approximately 0.1% of the portfolio. The average market cap of the portfolio companies is close to $2.27 billion.

The complete list of Capital Returns Management trades based on 13F SEC filings

These positions were updated on November 16th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security	Shares Owned	Value	Allocation
Watford Hldgs Ltd	14.84% 428,902	$9,839,000	25.40%
Benefytt Technologies Inc	Closed 375,000	$7,673,000
Argo Group Intl Hldgs Ltd	10.41% 139,004	$4,786,000	12.36%
Fbl Finl Group Inc	Opened 74,107	$3,572,000	9.22%
James Riv Group Ltd	11.11% 80,000	$3,562,000	9.20%
Chubb Limited	No change 30,000	$3,484,000	9.00%
ProSight Global, Inc.	Opened 239,566	$2,717,000	7.01%
Protective Ins Corp	7.18% 231,774	$3,067,000	7.92%
Arch Cap Group Ltd	50.00% 75,000	$2,194,000	5.66%
Voya Financial, Inc.	No change 40,901	$1,960,000	5.06%
Enstar Group Limited	25.00% 12,000	$1,938,000	5.00%
Renaissancere Hldgs Ltd	47.22% 9,500	$1,613,000	4.16%
No transactions found
Showing first 500 out of 12 holdings