| ACGL Arch Capital Group Ltd. | 9.37% | 71,542 | $7.2M | Reduce -43.6% |
| PGR Progressive Corp. | 6.93% | 25,697 | $5.3M | Reduce -42.1% |
| CRBG Corebridge Financial Inc. | 6.11% | 161,509 | $4.7M | Reduce -38.7% |
| HIG Hartford Insurance Group Inc. | 5.18% | 39,682 | $4.0M | Reduce -50.0% |
| PRU Prudential Financial Inc. | 5.03% | 33,053 | $3.9M | Reduce -50.0% |
| CB Chubb Ltd. | 4.66% | 14,071 | $3.6M | Reduce -50.0% |
| AIG American International Group | 4.37% | 45,366 | $3.4M | Reduce -50.0% |
| EG Everest Group Ltd. | 4.33% | 8,757 | $3.3M | Reduce -50.0% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 4.18% | 40,980 | $3.2M | Reduce -50.0% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 4.09% | 12,141 | $3.1M | Reduce -50.0% |
| EQH Equitable Holdings Inc. | 4.06% | 76,555 | $3.1M | Reduce -12.5% |
| RNR Renaissancere Holdings Ltd. | 4.00% | 13,763 | $3.1M | Reduce -50.0% |
| TRV The Travelers Cos Inc. | 3.83% | 14,505 | $2.9M | Reduce -43.3% |
| XOM Exxon Mobil Corp. | 2.97% | 19,850 | $2.3M | No change |
| ESNT Essent Group Ltd. | 2.88% | 39,519 | $2.2M | New |
| MSFT Microsoft Corp. | 2.35% | 4,042 | $1.8M | No change |
| AVGO Broadcom Inc. | 2.29% | 1,100 | $1.8M | No change |
| BX Blackstone Inc. | 2.12% | 13,201 | $1.6M | No change |
| NXPI NXP Semiconductors NV | 1.99% | 5,700 | $1.5M | No change |
| GOOG Alphabet Inc. Class C | 1.72% | 7,200 | $1.3M | No change |
| ORLY O'reilly Automotive Inc. | 1.65% | 1,200 | $1.3M | No change |
| IGIC International General Insura filed as INTL GNRL INSURANCE HLDNGS L | 1.44% | 79,023 | $1.1M | Reduce -30.0% |
| AMZN Amazon.com Inc. | 1.21% | 4,809 | $929K | No change |
| TECK Teck Resources Ltd.-CLS B | 1.20% | 19,300 | $924K | New |
| HD Home Depot Inc. | 1.12% | 2,500 | $861K | No change |
| JPM JPMorgan Chase & Co. | 1.12% | 4,253 | $860K | No change |
| MS Morgan Stanley | 1.08% | 8,550 | $831K | No change |
| NMIH Nmi Holdings Inc. filed as NMI HLDGS INC | 1.07% | 24,296 | $827K | New |
| SYK Stryker Corp. | 0.95% | 2,160 | $735K | No change |
| QCOM Qualcomm Inc. | 0.91% | 3,525 | $702K | No change |
| UNP Union Pacific Corp. | 0.88% | 2,985 | $675K | No change |
| ABT Abbott Laboratories | 0.80% | 5,918 | $615K | No change |
| MDT Medtronic PLC | 0.75% | 7,313 | $576K | No change |
| V Visa Inc. Class A | 0.74% | 2,180 | $572K | No change |
| FDX FedEx Corp. | 0.62% | 1,600 | $480K | No change |
| EPD Enterprise Products Partners | 0.61% | 16,271 | $472K | No change |
| PLGO Pelagos Insurance Capital LT filed as FIDELIS INSURANCE HOLDINGS L | 0.61% | 28,563 | $466K | Add +1.8% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.46% | 27,624 | $356K | No change |
| HG Hamilton Insurance Grou Class B | 0.30% | 14,000 | $233K | Reduce -30.0% |