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Canal Insurance Co.
Canal Insurance Company, headquartered in Greenville, South Carolina, is a long-standing insurance provider specializing primarily in the commercial trucking and transportation sector. Founded in 1939, Canal focuses on property and casualty insurance tailored to commercial auto businesses. The company serves clients across 48 states and the District of Columbia, leveraging a strong broker-driven distribution network and partnerships with select agencies. With a reputation for niche expertise and a strong brand in transportation insurance, Canal employs approximately 200 professionals and operates as part of Canal Financial Group Inc., established in 2024 as its holding company.
Investment Strategy
Canal Insurance Company pursues a strategy emphasizing the insurance of commercial transportation risks, particularly through specialized underwriting and conservative risk selection in the commercial auto industry. The investment portfolio is weighted more heavily toward common stock and alternative investments than the typical industry composite, aiming to achieve higher investment returns while accepting greater market volatility. The company structures its auto liability business into three targeted segments: Express (small fleets), Mid-Fleet, and Fleet, ensuring tailored solutions for each. Canal maintains a formal enterprise risk management program to align risk appetite with strategic, insurance business, financial, and operational objectives.
Latest 13F Filing Activity
Canal Insurance Co. filed their most recent 13F report on Jun 30, 2025 disclosing 70 equity positions and 1 options positions with a total 13F market value of $447M. The fund increased holdings in Aerovironment Inc., Microsoft Corp., Nuscale PWR Corp. among other positions. Canal Insurance Co. reduced exposure to GSK PLC, Barrick Gold Corp., Newmont Corp. among others.
Top Holdings
Equity Positions (70)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
M MSFT | MICROSOFT CORP | 6.96% | $31.1M | 62,500 | $37.70 | $497.41 | +$7.6M |
N NOC | NORTHROP GRUMMAN CORP | 5.05% | $22.5M | 45,093 | $242.03 | $499.98 | -$542.0K |
I IBM | INTERNATIONAL BUSINESS MACHS | 4.82% | $21.5M | 73,000 | $182.70 | $294.78 | +$3.4M |
A AVAV | AEROVIRONMENT INC | 4.46% | $19.9M | 70,000 | $108.73 | $284.95 | +$11.6M |
D DUK | DUKE ENERGY CORP NEW | 3.97% | $17.7M | 150,166 | $70.20 | $118.00 | -$596.0K |
Options Positions (1)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
S SQQQ | CALL ON SQQQ 07/18/2025 @ 24.0 | New | Call | $16.0K | 10 | $19.57 | $19.57 | +10 | +$16.0K |
Industry Allocation
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