Triad Guaranty Inc (TGIC)

[Enterprising Investor]

William T. Ratliff, III beneficially owns 3,143,444 shares (12/31/12)

Controls 20.5 percent.

This Schedule 13G is filed on behalf of Collateral Holdings, Ltd., an Alabama limited partnership (“CHL”), Collat, Inc., an Alabama corporation (“Collat”), William T. Ratliff, Jr. (“Ratliff, Jr.”) and William T. Ratliff III (“Ratliff, III”), (CHL, Collat, Ratliff, Jr. and Ratliff, III are collectively referred to hereinafter as the “Filing Persons”).

CHL is a direct beneficial owners of more than 5% of the common stock of Triad Guaranty, Inc.

CHL

Ratliff, Jr. transferred by gift all outstanding limited partnership interest he owned in CHL during 2012; therefore, Ratliff, Jr. beneficially owns 0% of the outstanding limited partnership interest in CHL. Ratliff, III beneficially owns 13.9% of the outstanding limited partnership interest in CHL.

Collat

Collat is the general partner of CHL. Ratliff, Jr. beneficially owns 0% of the outstanding voting capital stock of Collat. Ratliff, III is president and director of Collat and beneficially owns 50.2% of the outstanding voting capital stock of Collat.

https://www.sec.gov/Archives/edgar/data/911631/000119312513057353/d485190dsc13ga.htm