IAT REINSURANCE CO LTD.
•CIK: 1633625•Filing: Q4 2025
**IAT REINSURANCE CO LTD.** manages $341M across a diversified portfolio of 71 positions. The fund exhibits significant concentration in healthcare and technology, highlighted by top holdings including MERC ($34.1M) and GLW ($32.3M). Further substantial allocations are directed toward AMGN ($30.3M) and MS-PL ($29.2M), suggesting a strategic focus on established, large-cap growth names. This positioning indicates a conviction in sector leaders within the current market cycle.
Total AUM
$341.5M
QoQ Performance
-28.1%
Positions
70
Top 10 Concentration
67.7%
Latest Filing
Q4 2025
Top Holdings Allocation
MERC
GLW
AMGN
SCUL
NAM
NAM
GS
MERC10.0%
GLW9.4%
AMGN8.9%
SCULLY8.6%
NAM7.3%
NAM6.7%
GS5.4%
HLIO4.7%
📈 Biggest Buys
XEL 6.25 10/15/85
XCEL ENERGY INC-CALLABLE
NEW
0.6% of portfolio
TRPCN 6.25 11/01/85
TANSCANADA PIPELINE STR
NEW
0.6% of portfolio
MERC
MERCER INTERNATIONAL INC SBI
+3.1%
10.0% of portfolio
ACGL 4.55 PERP G
ARCH CAPITAL GROUP LTD
NEW
0.2% of portfolio
WTFC V7.875 PERP F
WINTRUST FINANCIAL CORP-CALL
+10.0%
1.7% of portfolio
📉 Biggest Sells
GS
GOLDMAN SACHS GROUP INC
-72.0%
5.4% of portfolio
TVA V0 05/01/29 A
TENNESSEE VALLEY AUTHORITY
-50.0%
1.9% of portfolio
CMA 6.875 PERP B
COMERICA INC-CALLABLE
-75.0%
0.2% of portfolio
JCI
JOHNSON CTLS INTL PLC
-50.0%
0.4% of portfolio
PSEC 5.35 PERP A
PROSPECT CAP CORP
-40.0%
0.1% of portfolio
Sector Breakdown
Other78.6%
Healthcare9.0%
Financial5.6%
Energy2.8%
Technology2.1%
Industrial1.8%
🚪 Exited Positionssold since Q3 2025
—
ZIEGLER COS INC THE
SOLD
$4.1M
+12 more exited positions
Changes from Q3 2025
NEW3 new positions
↑3 increased
↓5 decreased
Historical Filings
Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023