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Financial Services - Insurance - Reinsurance - NYSE - BM
$ 260.18
1.25 %
$ 13.5 B
Market Cap
3.67
P/E
1. INTRINSIC VALUE

RenaissanceRe Holdings Ltd. provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S. multi-line reinsurance.[ Read More ]

The intrinsic value of one RNR stock under the base case scenario is HIDDEN Compared to the current market price of 260 USD, RenaissanceRe Holdings Ltd. is HIDDEN

2. FUNDAMENTAL ANALYSIS

Price Chart RNR

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FINANCIALS
9.09 B REVENUE
80.05%
3.3 B OPERATING INCOME
413.10%
3.62 B NET INCOME
412.13%
1.91 B OPERATING CASH FLOW
19.20%
-3.82 B INVESTING CASH FLOW
-26.74%
2.59 B FINANCING CASH FLOW
256.89%
3.75 B REVENUE
32.88%
1.52 B OPERATING INCOME
105.52%
1.63 B NET INCOME
228.79%
1.49 B OPERATING CASH FLOW
22.92%
-1.5 B INVESTING CASH FLOW
-33.01%
-57.8 M FINANCING CASH FLOW
8.17%
Balance Sheet Decomposition RenaissanceRe Holdings Ltd.
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Current Assets 7.41 B
Cash & Short-Term Investments 6.48 B
Receivables 0
Other Current Assets 925 M
Non-Current Assets 29.2 B
Long-Term Investments 27.7 B
PP&E 0
Other Non-Current Assets 1.46 B
Current Liabilities 0
Accounts Payable 3.19 B
Short-Term Debt 75 M
Other Current Liabilities -3.26 B
Non-Current Liabilities 1.88 B
Long-Term Debt 1.88 B
Other Non-Current Liabilities 0
EFFICIENCY
Earnings Waterfall RenaissanceRe Holdings Ltd.
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Revenue 9.09 B
Cost Of Revenue 0
Gross Profit 9.09 B
Operating Expenses 5.99 B
Operating Income 3.3 B
Other Expenses -319 M
Net Income 3.62 B
RATIOS
100.00% GROSS MARGIN
100.00%
36.31% OPERATING MARGIN
36.31%
27.78% NET MARGIN
27.78%
26.71% ROE
26.71%
5.15% ROA
5.15%
33.67% ROIC
33.67%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis RenaissanceRe Holdings Ltd.
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Net Income 3.62 B
Depreciation & Amortization -135 M
Capital Expenditures 0
Stock-Based Compensation 0
Change in Working Capital -1.08 B
Others -1.07 B
Free Cash Flow 1.91 B
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets RenaissanceRe Holdings Ltd.
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Wall Street analysts predict an average 1-year price target for RNR of $287 , with forecasts ranging from a low of $229 to a high of $391 .
RNR Lowest Price Target Wall Street Target
229 USD -11.98%
RNR Average Price Target Wall Street Target
287 USD 10.31%
RNR Highest Price Target Wall Street Target
391 USD 50.28%
4. DIVIDEND ANALYSIS
0.21% DIVIDEND YIELD
0.39 USD DIVIDEND PER SHARE
5. COMPETITION
6. Ownership
Insider Ownership RenaissanceRe Holdings Ltd.
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Sold
0-3 MONTHS
1.19 M USD 1
3-6 MONTHS
791 K USD 2
6-9 MONTHS
625 K USD 2
9-12 MONTHS
2.98 M USD 3
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
Date Value Insider Amount Avg Price
3 days ago
Nov 14, 2024
Sell 260 K USD
Marra David E
EVP,Chief Underwriting Officer
- 1000
260 USD
1 month ago
Oct 04, 2024
Sell 279 K USD
Marra David E
EVP,Chief Underwriting Officer
- 1000
279 USD
1 month ago
Sep 26, 2024
Sell 269 K USD
Marra David E
EVP,Chief Underwriting Officer
- 1000
269 USD
2 months ago
Aug 29, 2024
Sell 194 K USD
Marra David E
EVP,Chief Underwriting Officer
- 750
259 USD
2 months ago
Aug 23, 2024
Sell 187 K USD
Marra David E
EVP,Chief Underwriting Officer
- 750
249 USD
3 months ago
Jul 26, 2024
Sell 561 K USD
Qutub Robert
EVP, Chief Financial Officer
- 2500
224.56 USD
4 months ago
Jul 17, 2024
Sell 230 K USD
Marra David E
EVP,Chief Underwriting Officer
- 1000
230 USD
6 months ago
May 15, 2024
Sell 445 K USD
BUSHNELL DAVID C
Director
- 2000
222.6863 USD
8 months ago
Mar 15, 2024
Sell 179 K USD
Marra David E
EVP,Chief Underwriting Officer
- 750
239 USD
1 year ago
Oct 25, 2023
Bought 2.87 K USD
Klehm Henry III
Director
+ 13
221.08 USD
9 months ago
Feb 12, 2024
Sell 188 K USD
Sanders Carol P
Director
- 825
227.61 USD
9 months ago
Feb 12, 2024
Sell 12.5 K USD
Sanders Carol P
Director
- 55
227.3244 USD
9 months ago
Feb 07, 2024
Sell 312 K USD
Qutub Robert
EVP, Chief Financial Officer
- 1329
234.4804 USD
9 months ago
Feb 07, 2024
Sell 275 K USD
Qutub Robert
EVP, Chief Financial Officer
- 1171
234.66 USD
9 months ago
Jan 31, 2024
Sell 172 K USD
Marra David E
EVP,Chief Underwriting Officer
- 750
229 USD
10 months ago
Jan 17, 2024
Sell 209 K USD
Marra David E
EVP,Chief Underwriting Officer
- 1000
209.05 USD
11 months ago
Nov 21, 2023
Sell 211 K USD
Qutub Robert
EVP, Chief Financial Officer
- 1000
210.8 USD
11 months ago
Nov 21, 2023
Sell 665 K USD
Qutub Robert
EVP, Chief Financial Officer
- 3110
213.85 USD
11 months ago
Nov 21, 2023
Sell 643 K USD
Qutub Robert
EVP, Chief Financial Officer
- 2990
214.9 USD
11 months ago
Nov 21, 2023
Sell 86.3 K USD
Qutub Robert
EVP, Chief Financial Officer
- 400
215.75 USD
11 months ago
Nov 20, 2023
Sell 208 K USD
Marra David E
EVP,Chief Underwriting Officer
- 1000
207.73 USD
1 year ago
May 26, 2023
Bought 2.5 M USD
ODonnell Kevin
Pres & Chief Executive Officer
+ 13020
192 USD
1 year ago
Feb 16, 2023
Sell 320 K USD
Sanders Carol P
Director
- 1515
211.3178 USD
1 year ago
Nov 29, 2022
Sell 160 K USD
Brosnan Sean G
SVP, Chief Investment Officer
- 850
187.74 USD
2 years ago
Aug 10, 2022
Bought 980 K USD
Gray Brian Gerald John
director:
+ 7500
130.62 USD
2 years ago
May 20, 2022
Sell 89 K USD
BUSHNELL DAVID C
director:
- 600
148.4119 USD
3 years ago
Nov 05, 2021
Sell 201 K USD
Klehm Henry III
Director
- 1300
154.72 USD
3 years ago
Oct 29, 2021
Bought 105 K USD
Qutub Robert
EVP, Chief Financial Officer
+ 722
145.78 USD
3 years ago
Oct 29, 2021
Bought 87.4 K USD
Qutub Robert
EVP, Chief Financial Officer
+ 605
144.47 USD
3 years ago
Oct 29, 2021
Bought 225 K USD
Qutub Robert
EVP, Chief Financial Officer
+ 1567
143.81 USD
3 years ago
Oct 29, 2021
Bought 72.1 K USD
Qutub Robert
EVP, Chief Financial Officer
+ 506
142.45 USD
3 years ago
Oct 29, 2021
Bought 464 K USD
ODonnell Kevin
Pres & Chief Executive Officer
+ 3185
145.78 USD
3 years ago
Oct 29, 2021
Bought 385 K USD
ODonnell Kevin
Pres & Chief Executive Officer
+ 2668
144.47 USD
3 years ago
Oct 29, 2021
Bought 994 K USD
ODonnell Kevin
Pres & Chief Executive Officer
+ 6915
143.81 USD
3 years ago
Oct 29, 2021
Bought 318 K USD
ODonnell Kevin
Pres & Chief Executive Officer
+ 2232
142.45 USD
3 years ago
Oct 29, 2021
Bought 116 K USD
BRANAGAN IAN D
EVP, Group Chief Risk Officer
+ 800
145.54 USD
3 years ago
Oct 29, 2021
Bought 187 K USD
BRANAGAN IAN D
EVP, Group Chief Risk Officer
+ 1299
144.07 USD
3 years ago
Oct 29, 2021
Bought 100 K USD
BRANAGAN IAN D
EVP, Group Chief Risk Officer
+ 700
143.47 USD
3 years ago
Oct 29, 2021
Bought 91.1 K USD
BRANAGAN IAN D
EVP, Group Chief Risk Officer
+ 641
142.13 USD
3 years ago
Oct 29, 2021
Bought 214 K USD
Curtis Ross
EVP,Chief Underwriting Officer
+ 1465
145.78 USD
3 years ago
Oct 29, 2021
Bought 177 K USD
Curtis Ross
EVP,Chief Underwriting Officer
+ 1227
144.47 USD
3 years ago
Oct 29, 2021
Bought 457 K USD
Curtis Ross
EVP,Chief Underwriting Officer
+ 3181
143.81 USD
3 years ago
Oct 29, 2021
Bought 146 K USD
Curtis Ross
EVP,Chief Underwriting Officer
+ 1027
142.45 USD
3 years ago
Oct 29, 2021
Bought 131 K USD
Fraser James Christopher
SVP, Chief Accounting Officer
+ 900
145.86 USD
3 years ago
Oct 29, 2021
Bought 86.5 K USD
Fraser James Christopher
SVP, Chief Accounting Officer
+ 600
144.17 USD
3 years ago
Mar 01, 2021
Sell 1.97 M USD
ODonnell Kevin
Pres & Chief Executive Officer
- 11748
167.29 USD
4 years ago
Jun 05, 2020
Sell 800 K USD
BRANAGAN IAN D
EVP, Chief Risk Officer
- 4000
200 USD
4 years ago
Jun 05, 2020
Sell 1 M USD
Dutt Aditya
President, Ventures
- 5000
200 USD
4 years ago
Mar 01, 2020
Sell 88.2 K USD
Brosnan Sean G
SVP, Chief Investment Officer
- 500
176.37 USD
5 years ago
Nov 04, 2019
Sell 1.87 M USD
Paradine Jonathan
SVP, CUO - Singapore
- 10000
187 USD
5 years ago
Aug 01, 2019
Sell 889 K USD
ODonnell Kevin
Pres & Chief Executive Officer
- 4919
180.72 USD
5 years ago
Aug 01, 2019
Sell 2.76 M USD
ODonnell Kevin
Pres & Chief Executive Officer
- 15148
182.05 USD
5 years ago
Aug 01, 2019
Sell 1.52 M USD
ODonnell Kevin
Pres & Chief Executive Officer
- 8308
182.83 USD
5 years ago
Jul 30, 2019
Sell 171 K USD
Brosnan Sean G
SVP, Chief Investment Officer
- 931
183.9127 USD
5 years ago
Jun 18, 2019
Sell 540 K USD
BRANAGAN IAN D
SVP, Chief Risk Officer
- 3000
180 USD
5 years ago
Jun 03, 2019
Sell 436 K USD
Dutt Aditya
President, Ventures
- 2500
174.52 USD
5 years ago
Jun 03, 2019
Sell 896 K USD
Dutt Aditya
President, Ventures
- 5096
175.73 USD
5 years ago
Jun 03, 2019
Sell 499 K USD
Dutt Aditya
President, Ventures
- 2824
176.65 USD
5 years ago
Jun 03, 2019
Sell 311 K USD
Dutt Aditya
President, Ventures
- 1751
177.65 USD
5 years ago
Jun 03, 2019
Sell 505 K USD
Dutt Aditya
President, Ventures
- 2829
178.44 USD
5 years ago
May 16, 2019
Sell 340 K USD
BRANAGAN IAN D
SVP, Chief Risk Officer
- 2000
170 USD
5 years ago
May 08, 2019
Sell 320 K USD
BRANAGAN IAN D
SVP, Chief Risk Officer
- 2000
160 USD
5 years ago
May 01, 2019
Sell 1.17 M USD
Curtis Ross
SVP,Chief Underwriting Officer
- 7500
156 USD
5 years ago
Apr 16, 2019
Sell 306 K USD
BRANAGAN IAN D
SVP, Chief Risk Officer
- 2000
153 USD
5 years ago
Apr 12, 2019
Sell 1.14 M USD
Curtis Ross
SVP,Chief Underwriting Officer
- 7500
152 USD
5 years ago
Mar 05, 2019
Sell 182 K USD
Brosnan Sean G
SVP, Chief Investment Officer
- 1250
145.97 USD
5 years ago
Dec 31, 2018
Sell 1.25 M USD
Paradine Jonathan
SVP, CUO - Singapore
- 9421
132.4 USD
5 years ago
Dec 31, 2018
Sell 1.41 M USD
Paradine Jonathan
SVP, CUO - Singapore
- 10579
133.14 USD
6 years ago
Nov 07, 2018
Sell 104 K USD
Klehm Henry III
Director
- 810
128 USD
6 years ago
May 29, 2018
Sell 136 K USD
Brosnan Sean G
SVP, Chief Investment Officer
- 1100
123.62 USD
6 years ago
May 29, 2018
Sell 12.4 K USD
Brosnan Sean G
SVP, Chief Investment Officer
- 100
124.16 USD
6 years ago
May 30, 2018
Sell 141 K USD
Brosnan Sean G
SVP, Chief Investment Officer
- 1133
124.85 USD
6 years ago
Dec 01, 2017
Sell 130 K USD
ODonnell Kevin
Pres & Chief Executive Officer
- 1000
129.95 USD
6 years ago
Dec 01, 2017
Sell 118 K USD
ODonnell Kevin
Pres & Chief Executive Officer
- 900
131.17 USD
6 years ago
Dec 01, 2017
Sell 264 K USD
ODonnell Kevin
Pres & Chief Executive Officer
- 2000
132.04 USD
6 years ago
Dec 01, 2017
Sell 146 K USD
ODonnell Kevin
Pres & Chief Executive Officer
- 1100
132.87 USD
6 years ago
Nov 27, 2017
Sell 189 K USD
Brosnan Sean G
SVP, Chief Investment Officer
- 1391
135.73 USD
7 years ago
Nov 01, 2017
Sell 441 K USD
ODonnell Kevin
Pres & Chief Executive Officer
- 3260
135.28 USD
7 years ago
Nov 01, 2017
Sell 237 K USD
ODonnell Kevin
Pres & Chief Executive Officer
- 1740
136.15 USD
7 years ago
Oct 02, 2017
Sell 512 K USD
ODonnell Kevin
Pres & Chief Executive Officer
- 3803
134.75 USD
7 years ago
Oct 02, 2017
Sell 162 K USD
ODonnell Kevin
Pres & Chief Executive Officer
- 1197
135.33 USD
7 years ago
Aug 01, 2017
Sell 1.83 M USD
ODonnell Kevin
Pres & Chief Executive Officer
- 12376
147.49 USD
7 years ago
Aug 02, 2017
Sell 1.89 M USD
ODonnell Kevin
Pres & Chief Executive Officer
- 12778
148.01 USD
7 years ago
Aug 02, 2017
Sell 827 K USD
ODonnell Kevin
Pres & Chief Executive Officer
- 5566
148.55 USD
7 years ago
Aug 01, 2017
Sell 1.13 M USD
ODonnell Kevin
Pres & Chief Executive Officer
- 7624
148.05 USD
7 years ago
Jul 26, 2017
Sell 740 K USD
Curtis Ross
SVP,Chief Underwriting Officer
- 5000
148 USD
7 years ago
Jul 26, 2017
Sell 45.6 K USD
Curtis Ross
SVP,Chief Underwriting Officer
- 300
152 USD
7 years ago
Jun 01, 2017
Sell 2 M USD
Weinstein Stephen Howard
SVP, General Counsel & Secty
- 14000
143.19 USD
7 years ago
May 01, 2017
Sell 963 K USD
ODonnell Kevin
Pres & Chief Executive Officer
- 6800
141.61 USD
7 years ago
May 01, 2017
Sell 28.5 K USD
ODonnell Kevin
Pres & Chief Executive Officer
- 200
142.67 USD
7 years ago
Apr 03, 2017
Sell 511 K USD
ODonnell Kevin
Pres & Chief Executive Officer
- 3553
143.92 USD
7 years ago
Apr 03, 2017
Sell 499 K USD
ODonnell Kevin
Pres & Chief Executive Officer
- 3447
144.89 USD
7. News
Why RenaissanceRe (RNR) is a Top Growth Stock for the Long-Term Wondering how to pick strong, market-beating stocks for your investment portfolio? Look no further than the Zacks Style Scores. zacks.com - 4 days ago
RenaissanceRe's Q3 Earnings Beat Despite Rising Claims Costs RNR's Q3 results witness strong premium growth and higher yields from fixed maturity portfolio. However, higher claims costs contribute to increased overall expenses. zacks.com - 1 week ago
RenaissanceRe Holdings Ltd. (RNR) Q3 2024 Earnings Call Transcript Call Start: 10:00 January 1, 0000 10:56 AM ET RenaissanceRe Holdings Ltd. (NYSE:RNR ) Q3 2024 Earnings Conference Call November 7, 2024, 10:00 AM ET Company Participants Keith McCue - Senior Vice President, Finance and IR Kevin O'Donnell - President and CEO Bob Qutub - Executive Vice President and CFO David Marra - Executive Vice President and Group CUO Conference Call Participants Elyse Greenspan - Wells Fargo Yaron Kinar - Jefferies Ryan Tunis - Autonomous Research Joshua Shanker - Bank of America Meyer Shields - KBW Mike Zaremski - BMO Brian Meredith - UBS David Motemaden - Evercore ISI Operator Good morning. seekingalpha.com - 1 week ago
Here's What Key Metrics Tell Us About RenaissanceRe (RNR) Q3 Earnings Although the revenue and EPS for RenaissanceRe (RNR) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers. zacks.com - 1 week ago
RenaissanceRe (RNR) Q3 Earnings and Revenues Top Estimates RenaissanceRe (RNR) came out with quarterly earnings of $10.23 per share, beating the Zacks Consensus Estimate of $7.89 per share. This compares to earnings of $8.33 per share a year ago. zacks.com - 1 week ago
Loretta J. Mester to Join RenaissanceRe Holdings Ltd. Board of Directors PEMBROKE, Bermuda--(BUSINESS WIRE)--RenaissanceRe Holdings Ltd. (NYSE: RNR) (“RenaissanceRe” or the “Company”) today announced today that Loretta J. Mester has been appointed to serve as an independent director of the Company effective November 6, 2024 and that, at such time, Brian G. J. Gray, who served as a member of the Board since 2013, retired as a director. Kevin J. O'Donnell, President and Chief Executive Officer of RenaissanceRe, said, “On behalf of RenaissanceRe and my fellow directors. businesswire.com - 1 week ago
RenaissanceRe Holdings Ltd. Announces Quarterly Dividend and Increase of Share Repurchase Authorization to $750 million PEMBROKE, Bermuda--(BUSINESS WIRE)--The Board of Directors of RenaissanceRe Holdings Ltd. (NYSE: RNR) (“RenaissanceRe” or the “Company”) announced today a quarterly dividend of $0.39 per common share on its common shares. The dividend is payable on December 31, 2024, to shareholders of record on December 13, 2024. In addition, the Board of Directors approved a renewal of RenaissanceRe's authorized share repurchase program, increasing the total current authorization to $750.0 million, which incl. businesswire.com - 1 week ago
RenaissanceRe Reports $1.2 Billion of Net Income Available to Common Shareholders and $540.3 Million of Operating Income Available to Common Shareholders in Q3 2024. PEMBROKE, Bermuda--(BUSINESS WIRE)--RenaissanceRe Holdings Ltd. (NYSE: RNR) (“RenaissanceRe” or the “Company”) today announced its financial results for the third quarter of 2024. Net Income Available to Common Shareholders per Diluted Common Share: $22.62 Operating Income Available to Common Shareholders per Diluted Common Share: $10.23 Underwriting Income $393.8M Fee Income $82.1M Net Investment Income $423.9M Change in Book Value per Common Share: 12.3% Change in Tangible Book Value per Comm. businesswire.com - 1 week ago
RenaissanceRe (RNR) Q3 Earnings Preview: What You Should Know Beyond the Headline Estimates Get a deeper insight into the potential performance of RenaissanceRe (RNR) for the quarter ended September 2024 by going beyond Wall Street's top -and-bottom-line estimates and examining the estimates for some of its key metrics. zacks.com - 1 week ago
RenaissanceRe (RNR) Expected to Beat Earnings Estimates: Should You Buy? RenaissanceRe (RNR) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations. zacks.com - 2 weeks ago
Why RenaissanceRe (RNR) is a Top Value Stock for the Long-Term The Zacks Style Scores offers investors a way to easily find top-rated stocks based on their investing style. Here's why you should take advantage. zacks.com - 2 weeks ago
Will RenaissanceRe (RNR) Beat Estimates Again in Its Next Earnings Report? RenaissanceRe (RNR) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report. zacks.com - 3 weeks ago
8. Profile Summary

RenaissanceRe Holdings Ltd. RNR

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COUNTRY BM
INDUSTRY Insurance - Reinsurance
MARKET CAP $ 13.5 B
Dividend Yield 0.21%
Description RenaissanceRe Holdings Ltd. provides reinsurance and insurance products in the United States and internationally. The company operates through Property, and Casualty and Specialty segments. The Property segment writes property catastrophe excess of loss reinsurance and excess of loss retrocessional reinsurance to insure insurance and reinsurance companies against natural and man-made catastrophes, including hurricanes, earthquakes, typhoons, and tsunamis, as well as claims arising from other natural and man-made catastrophes comprising winter storms, freezes, floods, fires, windstorms, tornadoes, explosions, and acts of terrorism; and other property class of products, such as proportional reinsurance, property per risk, property reinsurance, binding facilities, and regional U.S. multi-line reinsurance. The Casualty and Specialty segment writes various classes of products, such as directors and officers, medical malpractice, and professional indemnity; automobile and employer's liability, casualty clash, umbrella or excess casualty, workers' compensation, and general liability; financial and mortgage guaranty, political risk, surety, and trade credit; and accident and health, agriculture, aviation, cyber, energy, marine, satellite, and terrorism. The company distributes its products and services primarily through intermediaries. RenaissanceRe Holdings Ltd. was founded in 1993 and is headquartered in Pembroke, Bermuda.
Contact Renaissance House, Pembroke, HM 19 https://www.renre.com
IPO Date July 27, 1995
Employees 925
Officers Mr. Blythe Walker Senior Vice President & Chief Technology Officer Becket McNab Chief Human Resources Officer Ms. Shannon Lowry Bender Executive Vice President, Group General Counsel & Corporate Secretary Mr. David Edward Marra Executive Vice President & Group Chief Underwriting Officer Mr. Kevin Joseph O'Donnell President, Chief Executive Officer & Director Mr. Sean G. Brosnan C.F.A. Chief Investment Officer & Senior Vice President Mr. Keith Alfred McCue Senior Vice President of Finance & Investor Relations Mr. James Christopher Fraser Chief Accounting Officer & Senior Vice President Ms. Keil Gunther Senior Vice President, Head of Global Marketing & Client Communications Mr. Ross Arthur Curtis Executive Vice President & Chief Portfolio Officer