# Mountain Road Advisors, LLC

> Institutional holdings reported to the SEC as of Q3 2020 on Form 13F. CIK 1753564. Source: https://holderbook.com/funds/1753564-mountain-road-advisors-llc/

- Reported value: $113.4M
- Positions: 17
- Weight of the ten largest: 85.3%
- Filed: 2020-11-16

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ALLEGHANY CORP DEL | [Y](https://holderbook.com/stocks/Y/) | $13.8M | 26,460 | 12.2% | 4 |
| ARCH CAP GROUP LTD | [ACGL](https://holderbook.com/stocks/ACGL/) | $13.7M | 444,330 | 12.1% | 4 |
| MARKEL GROUP INC | [MKL](https://holderbook.com/stocks/MKL/) | $12.0M | 11,497 | 10.6% | 2 |
| AMERICAN FINANCIAL GROUP INC | [AFG](https://holderbook.com/stocks/AFG/) | $11.3M | 185,701 | 10.0% | 2 |
| ARGO GROUP INTL HLDGS LTD | [ARGO](https://holderbook.com/stocks/ARGO/) | $10.2M | 304,674 | 9.0% | 4 |
| RENAISSANCERE HLDGS LTD | [RNR](https://holderbook.com/stocks/RNR/) | $8.5M | 47,156 | 7.5% | 4 |
| BERKLEY W R CORP | [WRB](https://holderbook.com/stocks/WRB/) | $8.3M | 135,000 | 7.4% | 4 |
| JAMES RIV GROUP LTD | [JRVR](https://holderbook.com/stocks/JRVR/) | $8.2M | 176,181 | 7.2% | 4 |
| RLI CORP | [RLI](https://holderbook.com/stocks/RLI/) | $6.5M | 73,196 | 5.7% | 2 |
| TREAN INS GROUP INC | [TIG](https://holderbook.com/stocks/TIG/) | $4.3M | 275,000 | 3.8% | 1 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $4.1M | 45,000 | 3.6% | 4 |
| EMPLOYERS HLDGS INC | [EIG](https://holderbook.com/stocks/EIG/) | $3.6M | 112,205 | 3.2% | 2 |
| THE BALDWIN INSURANCE GRP IN | [BWIN](https://holderbook.com/stocks/BWIN/) | $3.2M | 185,972 | 2.9% | 4 |
| CHUBB LIMITED | [CB](https://holderbook.com/stocks/CB/) | $3.2M | 25,000 | 2.8% | 1 |
| INTL GNRL INSURANCE HLDNGS L | [IGIC](https://holderbook.com/stocks/IGIC/) | $1.2M | 182,347 | 1.0% | 3 |
| MARSH & MCLENNAN COS INC | [MRSH](https://holderbook.com/stocks/MRSH/) | $1.2M | 10,000 | 1.0% | 2 |
| PROASSURANCE CORP | [PRA](https://holderbook.com/stocks/PRA/) | $147.0K | 10,000 | 0.1% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q3 2020 | +5.4% | +8.6% | -3.2% | 100% |
| Q2 2020 | +10.4% | +19.6% | -9.3% | 100% |
| Q1 2020 | -24.1% | -19.9% | -4.2% | 99% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q3 2020 | $113.4M | 17 |
| Q2 2020 | $104.8M | 15 |
| Q1 2020 | $29.3M | 17 |
| Q4 2019 | $58.9M | 21 |