New Vernon Investment Management 13F annual report
New Vernon Investment Management is an investment fund managing more than $77 billion ran by Steven Shapiro. There are currently 39 companies in Mr. Shapiro’s portfolio. The largest investments include Arch Cap Group Ltd and Progressive, together worth $12.6 billion.
$77 billion Assets Under Management (AUM)
As of 7th August 2024, New Vernon Investment Management’s top holding is 71,542 shares of Arch Cap Group Ltd currently worth over $7.22 billion and making up 9.4% of the portfolio value.
In addition, the fund holds 25,697 shares of Progressive worth $5.34 billion, whose value grew 18.3% in the past six months.
The third-largest holding is Corebridge Finl Inc worth $4.7 billion and the next is Hartford Finl Svcs Group Inc worth $3.99 billion, with 39,682 shares owned.
Currently, New Vernon Investment Management's portfolio is worth at least $77 billion. 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 New Vernon Investment Management
The New Vernon Investment Management office and employees reside in Highland Park, Illinois. According to the last 13-F report filed with the SEC, Steven Shapiro serves as the Managing Member at New Vernon Investment Management.
Recent trades
In the most recent 13F filing, New Vernon Investment Management revealed that it had opened a new position in
Essent Ltd and bought 39,519 shares worth $2.22 billion.
This means they effectively own approximately 0.1% of the company.
Essent Ltd makes up
10.1%
of the fund's Finance sector allocation and has grown its share price by 12.8% in the past year.
The investment fund also strengthened its position in Fidelis Insurance Holdings L by buying
508 additional shares.
This makes their stake in Fidelis Insurance Holdings L total 28,563 shares worth $466 million.
On the other hand, there are companies that New Vernon Investment Management is getting rid of from its portfolio.
New Vernon Investment Management closed its position in Sentinelone Inc on 14th August 2024.
It sold the previously owned 31,850 shares for $742 million.
Steven Shapiro also disclosed a decreased stake in Arch Cap Group Ltd by 0.4%.
This leaves the value of the investment at $7.22 billion and 71,542 shares.
One of the smallest hedge funds
The two most similar investment funds to New Vernon Investment Management are Indaba Capital Management, L.P. and Capital Impact Advisors. They manage $77 billion and $76.9 billion respectively.
Steven Shapiro investment strategy
New Vernon Investment Management’s portfolio is diversified across 8 sectors.
Currently, their heaviest sector is Finance — making up 28.5% of
the total portfolio value.
The fund focuses on investments in the United States as
43.6% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
44% of the total holdings value.
On the other hand, small-cap stocks make up only 5.1% of the portfolio.
The average market cap of the portfolio companies is close to $252 billion.
The complete list of New Vernon Investment Management trades based on 13F SEC filings
These positions were updated on August 14th 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 |
|---|---|---|---|
| Arch Cap Group Ltd |
43.64%
71,542
|
$7,217,872,000 | 9.37% |
| Progressive Corp. |
42.12%
25,697
|
$5,337,524,000 | 6.93% |
| Corebridge Finl Inc |
38.68%
161,509
|
$4,703,142,000 | 6.11% |
| Hartford Finl Svcs Group Inc |
50.00%
39,682
|
$3,989,628,000 | 5.18% |
| Prudential Finl Inc |
50.00%
33,053
|
$3,873,481,000 | 5.03% |
| Chubb Limited |
50.00%
14,071
|
$3,589,231,000 | 4.66% |
| American Intl Group Inc |
50.00%
45,366
|
$3,367,972,000 | 4.37% |
| Everest Group Ltd |
50.00%
8,757
|
$3,336,592,000 | 4.33% |
| Berkley W R Corp |
50.00%
40,980
|
$3,220,208,000 | 4.18% |
| Gallagher Arthur J & Co |
50.00%
12,141
|
$3,148,283,000 | 4.09% |
| Equitable Holdings Inc |
12.50%
76,555
|
$3,128,037,000 | 4.06% |
| Renaissancere Hldgs Ltd |
50.00%
13,763
|
$3,076,168,000 | 4.00% |
| Travelers Companies Inc. |
43.30%
14,505
|
$2,949,447,000 | 3.83% |
| Exxon Mobil Corp. |
No change
19,850
|
$2,285,132,000 | 2.97% |
| Essent Group Ltd |
Opened
39,519
|
$2,220,573,000 | 2.88% |
| Microsoft Corporation |
No change
4,042
|
$1,806,572,000 | 2.35% |
| Broadcom Inc |
No change
1,100
|
$1,766,083,000 | 2.29% |
| Blackstone Inc |
No change
13,201
|
$1,634,284,000 | 2.12% |
| Nxp Semiconductors N V |
No change
5,700
|
$1,533,813,000 | 1.99% |
| Alphabet Inc |
No change
7,200
|
$1,320,624,000 | 1.72% |
| Oreilly Automotive Inc |
No change
1,200
|
$1,267,272,000 | 1.65% |
| Intl Gnrl Insurance Hldngs L |
30.00%
79,023
|
$1,106,322,000 | 1.44% |
| Amazon.com Inc. |
No change
4,809
|
$929,339,000 | 1.21% |
| Teck Resources Ltd |
Opened
19,300
|
$924,470,000 | 1.20% |
| Home Depot, Inc. |
No change
2,500
|
$860,600,000 | 1.12% |
| JPMorgan Chase & Co. |
No change
4,253
|
$860,212,000 | 1.12% |
| Morgan Stanley |
No change
8,550
|
$830,975,000 | 1.08% |
| NMI Holdings Inc |
Opened
24,296
|
$827,036,000 | 1.07% |
| Sentinelone Inc |
Closed
31,850
|
$742,424,000 | |
| Stryker Corp. |
No change
2,160
|
$734,940,000 | 0.95% |
| Qualcomm, Inc. |
No change
3,525
|
$702,110,000 | 0.91% |
| Union Pac Corp |
No change
2,985
|
$675,386,000 | 0.88% |
| Abbott Labs |
No change
5,918
|
$614,939,000 | 0.80% |
| Medtronic Plc |
No change
7,313
|
$575,606,000 | 0.75% |
| Visa Inc |
No change
2,180
|
$572,185,000 | 0.74% |
| Fedex Corp |
No change
1,600
|
$479,744,000 | 0.62% |
| Enterprise Prods Partners L |
No change
16,271
|
$471,534,000 | 0.61% |
| Fidelis Insurance Holdings L |
1.81%
28,563
|
$465,863,000 | 0.61% |
| Nu Hldgs Ltd |
No change
27,624
|
$356,073,000 | 0.46% |
| Hamilton Insurance Group Ltd |
30.00%
14,000
|
$233,100,000 | 0.30% |
| No transactions found | |||
| Showing first 500 out of 40 holdings | |||
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