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 6,758 110,800 SH   SOLE 1 110,800 0 0
AFLAC INC COM 001055102 10,592 246,200 SH   SOLE 1 246,200 0 0
AGNICO EAGLE MINES LTD COM 008474108 4,798 104,700 SH   SOLE 1 104,700 0 0
AKAMAI TECHNOLOGIES INC DBCV 2/1 00971TAG6 1,001 1,000,000 PRN   SOLE 1 1,000,000 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 6,495 122,500 SH Call SOLE   122,500 0 0
ARCH CAP GROUP LTD ORD G0450A105 3,769 142,430 SH   SOLE 1 142,430 0 0
ASPEN INSURANCE HOLDINGS LTD SHS G05384105 2,926 71,900 SH   SOLE   71,900 0 0
ASSOCIATED BANC CORP COM 045487105 6,732 246,595 SH   SOLE 1 246,595 0 0
ASTRAZENECA PLC SPONSORED ADR 046353108 2,100 59,800 SH   SOLE 1 59,800 0 0
ATLANTIC CAP BANCSHARES INC COM 048269203 1,975 100,508 SH   SOLE   100,508 0 0
AXIS CAPITAL HOLDINGS LTD SHS G0692U109 6,469 116,300 SH   SOLE 1 116,300 0 0
BANK OF NT BUTTERFIELD&SON L SHS NEW G0772R208 5,390 117,900 SH   SOLE 1 117,900 0 0
BENEFICIAL BANCORP INC COM 08171T102 8,217 507,224 SH   SOLE 1 507,224 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 39,819 213,334 SH   SOLE 1 213,334 0 0
BLUE HILLS BANCORP INC COM 095573101 1,694 76,300 SH   SOLE 1 76,300 0 0
BOOKING HLDGS INC COM 09857L108 2,433 1,200 SH Put SOLE   1,200 0 0
BRINKER INTL INC COM 109641100 286 6,000 SH Put SOLE   6,000 0 0
BROWN & BROWN INC COM 115236101 26,208 945,100 SH   SOLE 1 945,100 0 0
BSB BANCORP INC MD COM 05573H108 732 21,280 SH   SOLE 1 21,280 0 0
CAMPBELL SOUP CO COM 134429109 503 12,400 SH   SOLE 1 12,400 0 0
CAMPBELL SOUP CO COM 134429109 2,027 50,000 SH Call SOLE   50,000 0 0
CENTRAL PAC FINL CORP COM NEW 154760409 6,675 233,000 SH   SOLE 1 233,000 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 1,056 49,928 SH   SOLE 1 49,928 0 0
CHART INDS INC NOTE 2.000% 8/0 16115QAC4 973 800,000 PRN   SOLE 1 800,000 0 0
CHURCH & DWIGHT INC COM 171340102 10,764 202,484 SH   SOLE 1 202,484 0 0
CINCINNATI FINL CORP COM 172062101 10,146 151,750 SH   SOLE 1 151,750 0 0
CIRCOR INTL INC COM 17273K109 5,204 140,800 SH   SOLE 1 140,800 0 0
CITIGROUP INC COM NEW 172967424 7,362 110,019 SH   SOLE 1 110,019 0 0
COCA COLA CO COM 191216100 4,069 92,775 SH   SOLE 1 92,775 0 0
COLGATE PALMOLIVE CO COM 194162103 9,453 145,850 SH   SOLE 1 145,850 0 0
COMERICA INC COM 200340107 1,209 13,300 SH   SOLE 1 13,300 0 0
COUSINS PPTYS INC COM 222795106 4,907 506,350 SH   SOLE 1 506,350 0 0
DARDEN RESTAURANTS INC COM 237194105 2,088 19,500 SH   SOLE 1 19,500 0 0
DEL FRISCOS RESTAURANT GROUP COM 245077102 3,042 241,400 SH   SOLE 1 241,400 0 0
DOMTAR CORP COM NEW 257559203 2,996 62,753 SH   SOLE 1 62,753 0 0
EATON CORP PLC SHS G29183103 6,319 84,550 SH   SOLE 1 84,550 0 0
EBAY INC COM 278642103 2,081 57,400 SH   SOLE   57,400 0 0
EMPLOYERS HOLDINGS INC COM 292218104 2,971 73,900 SH   SOLE 1 73,900 0 0
FARO TECHNOLOGIES INC COM 311642102 3,016 55,500 SH   SOLE 1 55,500 0 0
FEDERATED INVS INC PA CL B 314211103 9,169 393,200 SH   SOLE 1 393,200 0 0
FIRST AMERN FINL CORP COM 31847R102 806 15,575 SH   SOLE 1 15,575 0 0
FIRST CONN BANCORP INC MD COM 319850103 2,586 84,500 SH   SOLE 1 84,500 0 0
FLIR SYS INC COM 302445101 13,556 260,850 SH   SOLE 1 260,850 0 0
FORESTAR GROUP INC NOTE 3.750% 3/0 346232AB7 1,876 1,890,000 PRN   SOLE 1 1,890,000 0 0
FOUR CORNERS PPTY TR INC COM 35086T109 798 32,396 SH   SOLE 1 32,396 0 0
FRANKLIN RES INC COM 354613101 686 21,408 SH   SOLE   21,408 0 0
GENERAL DYNAMICS CORP COM 369550108 5,574 29,900 SH   SOLE   29,900 0 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 5,510 136,700 SH   SOLE 1 136,700 0 0
HABIT RESTAURANTS INC COM CL A 40449J103 2,186 218,600 SH   SOLE 1 218,600 0 0
HANOVER INS GROUP INC COM 410867105 7,389 61,800 SH   SOLE 1 61,800 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 10,727 209,800 SH   SOLE 1 209,800 0 0
HESS CORP COM 42809H107 6,514 97,380 SH   SOLE 1 97,380 0 0
HOME DEPOT INC COM 437076102 7,865 40,314 SH   SOLE 1 40,314 0 0
HOMETRUST BANCSHARES INC COM 437872104 6,049 214,900 SH   SOLE 1 214,900 0 0
HOWARD HUGHES CORP COM 44267D107 530 4,000 SH   SOLE 1 4,000 0 0
HYATT HOTELS CORP COM CL A 448579102 3,716 48,165 SH   SOLE 1 48,165 0 0
IMPERIAL OIL LTD COM NEW 453038408 3,374 101,400 SH   SOLE 1 101,400 0 0
INVESCO LTD SHS G491BT108 7,686 289,400 SH   SOLE 1 289,400 0 0
JACK IN THE BOX INC COM 466367109 953 11,200 SH Put SOLE   11,200 0 0
JEFFERIES FINL GROUP INC COM 47233W109 5,384 236,762 SH   SOLE 1 236,762 0 0
JOHNSON & JOHNSON COM 478160104 7,561 62,311 SH   SOLE 1 62,311 0 0
KEARNY FINL CORP MD COM 48716P108 6,234 463,529 SH   SOLE 1 463,529 0 0
KEYCORP NEW COM 493267108 12,658 647,800 SH   SOLE 1 647,800 0 0
KINROSS GOLD CORP COM NO PAR 496902404 500 133,100 SH   SOLE 1 133,100 0 0
KIRBY CORP COM 497266106 3,503 41,900 SH   SOLE   41,900 0 0
LANDSTAR SYS INC COM 515098101 3,658 33,500 SH   SOLE 1 33,500 0 0
LOEWS CORP COM 540424108 688 14,250 SH   SOLE 1 14,250 0 0
LOUISIANA PAC CORP COM 546347105 632 23,200 SH   SOLE 1 23,200 0 0
LOWES COS INC COM 548661107 9,891 103,500 SH   SOLE 1 103,500 0 0
MARSH & MCLENNAN COS INC COM 571748102 6,607 80,600 SH   SOLE   80,600 0 0
MAXIM INTEGRATED PRODS INC COM 57772K101 2,000 34,100 SH   SOLE 1 34,100 0 0
MEDTRONIC PLC SHS G5960L103 6,626 77,400 SH   SOLE 1 77,400 0 0
MERCK & CO INC COM 58933Y105 11,226 184,948 SH   SOLE 1 184,948 0 0
MERCURY GENL CORP NEW COM 589400100 8,857 194,400 SH   SOLE 1 194,400 0 0
METLIFE INC COM 59156R108 5,921 135,800 SH Put SOLE   135,800 0 0
MICROSOFT CORP COM 594918104 20,047 203,300 SH   SOLE 1 203,300 0 0
MONDELEZ INTL INC CL A 609207105 11,132 271,501 SH   SOLE 1 271,501 0 0
NEWMONT MINING CORP COM 651639106 1,037 27,500 SH   SOLE 1 27,500 0 0
NOBLE ENERGY INC COM 655044105 7,629 216,235 SH   SOLE 1 216,235 0 0
NOODLES & CO COM CL A 65540B105 5,646 459,004 SH   SOLE 1 459,004 0 0
OCEANFIRST FINL CORP COM 675234108 2,601 86,800 SH   SOLE 1 86,800 0 0
OPUS BK IRVINE CALIF COM 684000102 6,859 239,000 SH   SOLE 1 239,000 0 0
ORACLE CORP COM 68389X105 2,287 51,900 SH   SOLE 1 51,900 0 0
ORITANI FINL CORP DEL COM 68633D103 2,493 153,876 SH   SOLE 1 153,876 0 0
PATTERSON COMPANIES INC COM 703395103 5,674 250,275 SH   SOLE 1 250,275 0 0
PATTERSON COMPANIES INC COM 703395103 4,081 180,000 SH Call SOLE   180,000 0 0
PAYCHEX INC COM 704326107 6,288 92,000 SH   SOLE 1 92,000 0 0
PAYPAL HLDGS INC COM 70450Y103 3,964 47,600 SH   SOLE   47,600 0 0
PB BANCORP INC COM 70454T100 907 79,888 SH   SOLE   79,888 0 0
PCSB FINL CORP COM 69324R104 3,308 166,500 SH   SOLE 1 166,500 0 0
PDL CMNTY BANCORP COM 69290X101 329 20,954 SH   SOLE   20,954 0 0
PJT PARTNERS INC COM CL A 69343T107 5,900 110,500 SH   SOLE   110,500 0 0
PNC FINL SVCS GROUP INC COM 693475105 18,699 138,410 SH   SOLE   138,410 0 0
POWELL INDS INC COM 739128106 3,838 110,200 SH   SOLE 1 110,200 0 0
PRICE T ROWE GROUP INC COM 74144T108 10,512 90,550 SH   SOLE 1 90,550 0 0
PRIMERICA INC COM 74164M108 10,548 105,900 SH   SOLE 1 105,900 0 0
PROGRESSIVE CORP OHIO COM 743315103 7,979 134,900 SH   SOLE   134,900 0 0
RENAISSANCERE HOLDINGS LTD COM G7496G103 21,013 174,644 SH   SOLE 1 174,644 0 0
RENAISSANCERE HOLDINGS LTD COM G7496G103 10,829 90,000 SH Call SOLE   90,000 0 0
RTI INTL METALS INC NOTE 1.625%10/1 74973WAB3 723 719,000 PRN   SOLE 1 719,000 0 0
RUTHS HOSPITALITY GROUP INC COM 783332109 2,533 90,300 SH   SOLE 1 90,300 0 0
SAFETY INS GROUP INC COM 78648T100 2,144 25,100 SH   SOLE 1 25,100 0 0
SCHLUMBERGER LTD COM 806857108 2,621 39,100 SH   SOLE   39,100 0 0
SCIENCE APPLICATNS INTL CP N COM 808625107 6,280 77,600 SH   SOLE 1 77,600 0 0
SELECTIVE INS GROUP INC COM 816300107 8,181 148,750 SH   SOLE 1 148,750 0 0
SI FINL GROUP INC MD COM 78425V104 1,156 78,400 SH   SOLE 1 78,400 0 0
SUNCOR ENERGY INC NEW COM 867224107 9,515 233,900 SH   SOLE 1 233,900 0 0
SUNTRUST BKS INC COM 867914103 4,139 62,700 SH   SOLE   62,700 0 0
SYNAPTICS INC NOTE 0.500% 6/1 87157DAD1 1,185 1,200,000 PRN   SOLE 1 1,200,000 0 0
SYNOPSYS INC COM 871607107 573 6,700 SH   SOLE 1 6,700 0 0
TELEPHONE & DATA SYS INC COM NEW 879433829 784 28,575 SH   SOLE 1 28,575 0 0
TESLA INC COM 88160R101 24,007 70,000 SH Put SOLE   70,000 0 0
THE ONE GROUP HOSPITALITY IN COM 88338K103 298 122,450 SH   SOLE   122,450 0 0
TOOTSIE ROLL INDS INC COM 890516107 4,644 150,519 SH   SOLE 1 150,519 0 0
TORCHMARK CORP COM 891027104 12,814 157,400 SH   SOLE 1 157,400 0 0
UNITED FIRE GROUP INC COM 910340108 1,908 35,000 SH   SOLE   35,000 0 0
UNITED TECHNOLOGIES CORP COM 913017109 5,973 47,770 SH   SOLE   47,770 0 0
UNUM GROUP COM 91529Y106 3,958 107,000 SH   SOLE   107,000 0 0
US BANCORP DEL COM NEW 902973304 9,704 194,000 SH   SOLE   194,000 0 0
VERINT SYS INC NOTE 1.500% 6/0 92343XAA8 1,246 1,270,000 PRN   SOLE 1 1,270,000 0 0
VERISIGN INC COM 92343E102 5,260 38,280 SH   SOLE 1 38,280 0 0
VOYA FINL INC COM 929089100 3,643 77,500 SH Call SOLE   77,500 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 486 8,100 SH   SOLE 1 8,100 0 0
WATERSTONE FINL INC MD COM 94188P101 2,950 173,000 SH   SOLE 1 173,000 0 0
WESTERN NEW ENG BANCORP INC COM 958892101 3,073 279,369 SH   SOLE 1 279,369 0 0
WHITE MTNS INS GROUP LTD COM G9618E107 5,492 6,058 SH   SOLE 1 6,058 0 0
XILINX INC COM 983919101 3,433 52,600 SH   SOLE 1 52,600 0 0