Hurricane Milton may become the costliest insured hurricane in U.S. history
Hurricane Milton is poised to become the costliest insured hurricane in U.S. history, potentially surpassing Hurricane Katrina's insured losses. Fed Watch Advisors estimates losses could reach up to $100 billion. The Procure Disaster Recovery Strategy ETF (NASDAQ:FIXT), which includes 44 stocks from various sectors, is under close market scrutiny. Its top holding is Sterling Infrastructure (STRL) at 2.73%, followed by other significant companies like NVIDIA and Cummins.
Florida’s gulf coast braces for the impact of Hurricane Milton, which according to Fed Watch Advisors could possibly be the most disastrous hurricane on record, in terms of dollars.
Milton is expected to surpass Hurricane Katrina in terms of insured losses. Katrina back in 2005 incurred a loss of $65B, or just over $100B in 2023 dollars.
“The impact of Milton.. will be severe, and estimates are $100 to $175 billion of insured losses,” Fed Watch Advisors stated.
As a result, markets will be watching closely the Procure Disaster Recovery Strategy ETF (NASDAQ:FIXT), which tracks a portfolio of companies engaged in recovering from natural disasters, such as hurricanes, wildfires, floods or earthquakes.
FIXT is made up of a total of 44 stocks across the Industrials, Energy, Materials, Consumer Staples, and Info Tech sectors with its top holding being Sterling Infrastructure (STRL) at 2.73%. See the list below of the exchange-traded fund's 10 largest holdings and each of their allocations within FIXT:
No. 10: Cummins Inc (CMI) at 2.47%.
No. 9: NVIDIA Corp (NVDA) at 2.48%.
No. 8: Fluor Corp (FLR) at 2.49%.
No. 7: China Everbright Environment Group (OTCPK:CHFFF) at 2.51%.
No. 6: Allison Transmission Holdings Inc (ALSN) at 2.52%.
No. 5: Valmet Oyj (OTCPK:VOYJF) at 2.58%.
No. 4: AtkinsRealis Group (OTCPK:SNCAF) at 2.61%.
No. 3: Generac Holdings (GNRC) at 2.70%.
No. 2: Great Lakes Dredge & Dock Corp (GLDD) at 2.70%.
No. 1: Sterling Infrastructure (STRL) at 2.73%.