The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ABBOTT LABS COM 002824100 6,793 127,300 SH   SOLE 1 127,300 0 0
AFLAC INC COM 001055102 10,573 129,900 SH   SOLE 1 129,900 0 0
AGNICO EAGLE MINES LTD COM 008474108 3,865 85,500 SH   SOLE   85,500 0 0
AKAMAI TECHNOLOGIES INC DBCV 2/1 00971TAG6 884 910,000 PRN   SOLE 1 910,000 0 0
ALAMOS GOLD INC NEW COM CL A 011532108 130 19,304 SH   SOLE 1 19,304 0 0
ARCH CAP GROUP LTD ORD G0450A105 8,904 90,400 SH   SOLE   90,400 0 0
ASSOCIATED BANC CORP COM 045487105 3,667 151,200 SH   SOLE 1 151,200 0 0
ASTRAZENECA PLC SPONSORED ADR 046353108 2,026 59,800 SH   SOLE 1 59,800 0 0
ATLANTIC CAP BANCSHARES INC COM 048269203 2,189 120,608 SH   SOLE   120,608 0 0
BANK OF NT BUTTERFIELD&SON L SHS NEW G0772R208 4,818 131,500 SH   SOLE 1 131,500 0 0
BB&T CORP COM 054937107 1,878 40,000 SH Call SOLE   40,000 0 0
BENEFICIAL BANCORP INC COM 08171T102 8,730 525,924 SH   SOLE 1 525,924 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 41,391 225,784 SH   SOLE 1 225,784 0 0
BLUE HILLS BANCORP INC COM 095573101 1,542 80,300 SH   SOLE 1 80,300 0 0
BROOKLINE BANCORP INC DEL COM 11373M107 3,133 202,100 SH   SOLE 1 202,100 0 0
BROWN & BROWN INC COM 115236101 23,902 496,000 SH   SOLE 1 496,000 0 0
BSB BANCORP INC MD COM 05573H108 1,797 60,000 SH   SOLE 1 60,000 0 0
BUFFALO WILD WINGS INC COM 119848109 8,289 78,420 SH   SOLE 1 78,420 0 0
CAMDEN PPTY TR SH BEN INT 133131102 2,817 30,800 SH   SOLE 1 30,800 0 0
CAMPBELL SOUP CO COM 134429109 300 6,400 SH   SOLE 1 6,400 0 0
CAPITAL BK FINL CORP CL A COM 139794101 4,306 104,900 SH   SOLE 1 104,900 0 0
CENTRAL PAC FINL CORP COM NEW 154760409 7,820 243,000 SH   SOLE 1 243,000 0 0
CHART INDS INC NOTE 2.000% 8/0 16115QAC4 976 980,000 PRN   SOLE 1 980,000 0 0
CHURCH & DWIGHT INC COM 171340102 10,053 207,484 SH   SOLE 1 207,484 0 0
CIRCOR INTL INC COM 17273K109 6,548 120,300 SH   SOLE 1 120,300 0 0
CITIGROUP INC COM NEW 172967424 11,545 158,719 SH   SOLE 1 158,719 0 0
CLIFTON BANCORP INC COM 186873105 358 21,435 SH   SOLE 1 21,435 0 0
COCA COLA CO COM 191216100 8,383 186,250 SH   SOLE 1 186,250 0 0
COLGATE PALMOLIVE CO COM 194162103 10,072 138,250 SH   SOLE 1 138,250 0 0
COMERICA INC COM 200340107 1,014 13,300 SH   SOLE 1 13,300 0 0
COUSINS PPTYS INC COM 222795106 4,882 522,750 SH   SOLE 1 522,750 0 0
DEL FRISCOS RESTAURANT GROUP COM 245077102 5,322 365,800 SH   SOLE 1 365,800 0 0
DNB FINL CORP COM 233237106 444 12,600 SH   SOLE   12,600 0 0
DOMTAR CORP COM NEW 257559203 2,749 63,353 SH   SOLE 1 63,353 0 0
EASTGROUP PPTY INC COM 277276101 3,357 38,100 SH   SOLE 1 38,100 0 0
EATON CORP PLC SHS G29183103 6,685 87,050 SH   SOLE 1 87,050 0 0
EBAY INC COM 278642103 2,369 61,600 SH   SOLE   61,600 0 0
FARO TECHNOLOGIES INC COM 311642102 2,123 55,500 SH   SOLE 1 55,500 0 0
FEDERATED INVS INC PA CL B 314211103 12,970 436,700 SH   SOLE 1 436,700 0 0
FIRST AMERN FINL CORP COM 31847R102 805 16,100 SH   SOLE 1 16,100 0 0
FIRST CONN BANCORP INC MD COM 319850103 2,611 97,600 SH   SOLE 1 97,600 0 0
FIRST FINANCIAL NORTHWEST IN COM 32022K102 606 35,682 SH   SOLE   35,682 0 0
FLIR SYS INC COM 302445101 12,562 322,850 SH   SOLE 1 322,850 0 0
FORESTAR GROUP INC NOTE 3.750% 3/0 346232AB7 1,911 1,890,000 PRN   SOLE 1 1,890,000 0 0
FOUR CORNERS PPTY TR INC COM 35086T109 2,794 112,134 SH   SOLE 1 112,134 0 0
FRANKLIN RES INC COM 354613101 2,773 62,308 SH   SOLE 1 62,308 0 0
GENERAL DYNAMICS CORP COM 369550108 6,659 32,390 SH   SOLE   32,390 0 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 6,183 152,300 SH   SOLE 1 152,300 0 0
HABIT RESTAURANTS INC COM CL A 40449J103 1,171 89,700 SH   SOLE 1 89,700 0 0
HAEMONETICS CORP COM 405024100 2,257 50,300 SH   SOLE 1 50,300 0 0
HANOVER INS GROUP INC COM 410867105 9,373 96,700 SH   SOLE 1 96,700 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 12,267 221,300 SH   SOLE 1 221,300 0 0
HESS CORP COM 42809H107 4,600 98,100 SH   SOLE 1 98,100 0 0
HOLOGIC INC FRNT 12/1 436440AG6 1,037 860,000 PRN   SOLE 1 860,000 0 0
HOME DEPOT INC COM 437076102 6,968 42,604 SH   SOLE 1 42,604 0 0
HOMETRUST BANCSHARES INC COM 437872104 7,533 293,700 SH   SOLE 1 293,700 0 0
HOWARD HUGHES CORP COM 44267D107 472 4,000 SH   SOLE 1 4,000 0 0
HYATT HOTELS CORP COM CL A 448579102 3,143 50,865 SH   SOLE 1 50,865 0 0
ILLINOIS TOOL WKS INC COM 452308109 296 2,000 SH   SOLE   2,000 0 0
INVACARE CORP COM 461203101 3,218 204,327 SH   SOLE 1 204,327 0 0
INVESCO LTD SHS G491BT108 8,613 245,800 SH   SOLE 1 245,800 0 0
JOHNSON & JOHNSON COM 478160104 8,583 66,016 SH   SOLE 1 66,016 0 0
KEYCORP NEW COM 493267108 11,205 595,400 SH   SOLE 1 595,400 0 0
KINROSS GOLD CORP COM NO PAR 496902404 491 115,800 SH   SOLE 1 115,800 0 0
KIRBY CORP COM 497266106 1,972 29,900 SH   SOLE   29,900 0 0
LANDSTAR SYS INC COM 515098101 3,338 33,500 SH   SOLE 1 33,500 0 0
LEUCADIA NATL CORP COM 527288104 10,430 413,062 SH   SOLE 1 413,062 0 0
LOEWS CORP COM 540424108 682 14,250 SH   SOLE 1 14,250 0 0
LOUISIANA PAC CORP COM 546347105 628 23,200 SH   SOLE 1 23,200 0 0
LOWES COS INC COM 548661107 8,769 109,700 SH   SOLE 1 109,700 0 0
MARSH & MCLENNAN COS INC COM 571748102 7,183 85,700 SH   SOLE   85,700 0 0
MAXIM INTEGRATED PRODS INC COM 57772K101 1,803 37,800 SH   SOLE 1 37,800 0 0
MEDTRONIC PLC SHS G5960L103 4,495 57,800 SH   SOLE 1 57,800 0 0
MERCK & CO INC COM 58933Y105 10,344 161,548 SH   SOLE 1 161,548 0 0
MICROSOFT CORP COM 594918104 15,997 214,750 SH   SOLE 1 214,750 0 0
MONDELEZ INTL INC CL A 609207105 11,645 286,401 SH   SOLE 1 286,401 0 0
NEWMONT MINING CORP COM 651639106 2,071 55,200 SH   SOLE 1 55,200 0 0
NOBLE ENERGY INC COM 655044105 5,483 193,335 SH   SOLE 1 193,335 0 0
NOODLES & CO COM CL A 65540B105 1,539 349,663 SH   SOLE 1 349,663 0 0
OCEANFIRST FINL CORP COM 675234108 3,145 114,400 SH   SOLE 1 114,400 0 0
ORITANI FINL CORP DEL COM 68633D103 5,315 316,376 SH   SOLE 1 316,376 0 0
PATTERSON COMPANIES INC COM 703395103 9,052 234,200 SH   SOLE 1 234,200 0 0
PAYCHEX INC COM 704326107 5,744 95,800 SH   SOLE 1 95,800 0 0
PAYPAL HLDGS INC COM 70450Y103 3,438 53,700 SH   SOLE   53,700 0 0
PB BANCORP INC COM 70454T100 839 79,888 SH   SOLE   79,888 0 0
PCSB FINL CORP COM 69324R104 3,140 166,500 SH   SOLE 1 166,500 0 0
PJT PARTNERS INC COM CL A 69343T107 4,463 116,500 SH   SOLE   116,500 0 0
PNC FINL SVCS GROUP INC COM 693475105 20,027 148,600 SH   SOLE   148,600 0 0
POWELL INDS INC COM 739128106 1,826 60,900 SH   SOLE 1 60,900 0 0
PRICE T ROWE GROUP INC COM 74144T108 17,804 196,400 SH   SOLE 1 196,400 0 0
PRIMERICA INC COM 74164M108 8,987 110,200 SH   SOLE 1 110,200 0 0
PROCTER AND GAMBLE CO COM 742718109 4,776 52,500 SH Put SOLE   52,500 0 0
PROGRESSIVE CORP OHIO COM 743315103 7,060 145,800 SH   SOLE   145,800 0 0
RENAISSANCERE HOLDINGS LTD COM G7496G103 12,700 93,974 SH   SOLE 1 93,974 0 0
RTI INTL METALS INC NOTE 1.625%10/1 74973WAB3 800 719,000 PRN   SOLE 1 719,000 0 0
RUTHS HOSPITALITY GROUP INC COM 783332109 2,103 100,400 SH   SOLE 1 100,400 0 0
SAFETY INS GROUP INC COM 78648T100 2,159 28,300 SH   SOLE 1 28,300 0 0
SCIENCE APPLICATNS INTL CP N COM 808625107 5,475 81,900 SH   SOLE 1 81,900 0 0
SELECTIVE INS GROUP INC COM 816300107 9,268 172,100 SH   SOLE 1 172,100 0 0
SHUTTERFLY INC NOTE 0.250% 5/1 82568PAB2 812 820,000 PRN   SOLE 1 820,000 0 0
SI FINL GROUP INC MD COM 78425V104 1,172 78,400 SH   SOLE 1 78,400 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 653 2,600 SH Put SOLE   2,600 0 0
SUNCOR ENERGY INC NEW COM 867224107 8,011 228,700 SH   SOLE 1 228,700 0 0
SUNSHINE BANCORP INC COM 86777J108 316 13,600 SH   SOLE   13,600 0 0
SYNOPSYS INC COM 871607107 773 9,600 SH   SOLE 1 9,600 0 0
TELEPHONE & DATA SYS INC COM NEW 879433829 823 29,500 SH   SOLE 1 29,500 0 0
TOOTSIE ROLL INDS INC COM 890516107 4,294 113,004 SH   SOLE 1 113,004 0 0
TORCHMARK CORP COM 891027104 11,989 149,700 SH   SOLE 1 149,700 0 0
UNITED TECHNOLOGIES CORP COM 913017109 5,582 48,090 SH   SOLE   48,090 0 0
UNUM GROUP COM 91529Y106 4,320 84,500 SH   SOLE   84,500 0 0
US BANCORP DEL COM NEW 902973304 10,246 191,200 SH   SOLE   191,200 0 0
VALIDUS HOLDINGS LTD COM SHS G9319H102 12,652 257,100 SH   SOLE 1 257,100 0 0
VERINT SYS INC NOTE 1.500% 6/0 92343XAA8 1,241 1,270,000 PRN   SOLE 1 1,270,000 0 0
VERISIGN INC COM 92343E102 4,307 40,480 SH   SOLE 1 40,480 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 625 8,100 SH   SOLE 1 8,100 0 0
WATERSTONE FINL INC MD COM 94188P101 4,183 214,500 SH   SOLE 1 214,500 0 0
WESTERN NEW ENG BANCORP INC COM 958892101 3,602 330,469 SH   SOLE 1 330,469 0 0
WHITE MTNS INS GROUP LTD COM G9618E107 7,627 8,900 SH   SOLE 1 8,900 0 0
XILINX INC COM 983919101 4,115 58,100 SH   SOLE 1 58,100 0 0