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 7,956 110,000 SH   SOLE 1 110,000 0 0
AFLAC INC COM 001055102 12,233 268,500 SH   SOLE 1 268,500 0 0
AGNICO EAGLE MINES LTD COM 008474108 3,289 81,400 SH   SOLE   81,400 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 1,892 48,000 SH Call SOLE   48,000 0 0
ASTRAZENECA PLC SPONSORED ADR 046353108 2,271 59,800 SH   SOLE 1 59,800 0 0
ATLANTIC CAP BANCSHARES INC COM 048269203 1,953 119,308 SH   SOLE   119,308 0 0
AXIS CAPITAL HOLDINGS LTD SHS G0692U109 11,438 221,500 SH   SOLE 1 221,500 0 0
BANK OF NT BUTTERFIELD&SON L SHS NEW G0772R208 3,508 111,900 SH   SOLE 1 111,900 0 0
BENEFICIAL BANCORP INC COM 08171T102 1,272 89,024 SH   SOLE   89,024 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 43,479 212,944 SH   SOLE 1 212,944 0 0
BROWN & BROWN INC COM 115236101 27,497 997,700 SH   SOLE 1 997,700 0 0
CAMPBELL SOUP CO COM 134429109 409 12,400 SH   SOLE 1 12,400 0 0
CENTRAL PAC FINL CORP COM NEW 154760409 8,072 331,500 SH   SOLE 1 331,500 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 1,008 53,428 SH   SOLE 1 53,428 0 0
CHURCH & DWIGHT INC COM 171340102 10,475 159,284 SH   SOLE 1 159,284 0 0
CINCINNATI FINL CORP COM 172062101 9,720 125,550 SH   SOLE 1 125,550 0 0
CIRCOR INTL INC COM 17273K109 3,033 142,400 SH   SOLE 1 142,400 0 0
CITIGROUP INC COM NEW 172967424 5,827 111,919 SH   SOLE 1 111,919 0 0
COCA COLA CO COM 191216100 4,450 93,975 SH   SOLE 1 93,975 0 0
COLGATE PALMOLIVE CO COM 194162103 10,532 176,950 SH   SOLE 1 176,950 0 0
COMERICA INC COM 200340107 6,457 94,000 SH   SOLE 1 94,000 0 0
COUSINS PPTYS INC COM 222795106 4,039 511,250 SH   SOLE 1 511,250 0 0
DARDEN RESTAURANTS INC COM 237194105 3,186 31,900 SH   SOLE 1 31,900 0 0
DIME CMNTY BANCSHARES COM 253922108 3,415 201,100 SH   SOLE 1 201,100 0 0
DOMTAR CORP COM NEW 257559203 2,205 62,753 SH   SOLE 1 62,753 0 0
EATON CORP PLC SHS G29183103 6,499 94,650 SH   SOLE 1 94,650 0 0
EBAY INC COM 278642103 4,918 175,200 SH   SOLE 1 175,200 0 0
EBAY INC COM 278642103 4,435 158,000 SH Call SOLE   158,000 0 0
EMPLOYERS HOLDINGS INC COM 292218104 4,403 104,900 SH   SOLE 1 104,900 0 0
EXXON MOBIL CORP COM 30231G102 559 8,200 SH   SOLE 1 8,200 0 0
FARO TECHNOLOGIES INC COM 311642102 2,894 71,200 SH   SOLE 1 71,200 0 0
FEDERATED INVS INC PA CL B 314211103 11,892 447,900 SH   SOLE 1 447,900 0 0
FIRST AMERN FINL CORP COM 31847R102 535 11,975 SH   SOLE 1 11,975 0 0
FLIR SYS INC COM 302445101 9,616 220,850 SH   SOLE 1 220,850 0 0
FORESTAR GROUP INC NOTE 3.750% 3/0 346232AB7 1,834 1,890,000 PRN   SOLE 1 1,890,000 0 0
FOUR CORNERS PPTY TR INC COM 35086T109 702 26,796 SH   SOLE 1 26,796 0 0
FRANKLIN RES INC COM 354613101 5,888 198,508 SH   SOLE 1 198,508 0 0
GENERAL DYNAMICS CORP COM 369550108 4,806 30,570 SH   SOLE   30,570 0 0
HALLIBURTON CO COM 406216101 2,222 83,600 SH   SOLE   83,600 0 0
HANOVER INS GROUP INC COM 410867105 10,819 92,650 SH   SOLE 1 92,650 0 0
HESS CORP COM 42809H107 4,098 101,180 SH   SOLE 1 101,180 0 0
HOME DEPOT INC COM 437076102 7,021 40,864 SH   SOLE 1 40,864 0 0
HOMETRUST BANCSHARES INC COM 437872104 3,301 126,090 SH   SOLE 1 126,090 0 0
HOWARD HUGHES CORP COM 44267D107 456 4,675 SH   SOLE 1 4,675 0 0
HYATT HOTELS CORP COM CL A 448579102 3,303 48,865 SH   SOLE 1 48,865 0 0
ILLINOIS TOOL WKS INC COM 452308109 2,260 17,840 SH   SOLE   17,840 0 0
INVESCO LTD SHS G491BT108 1,262 75,400 SH   SOLE 1 75,400 0 0
JEFFERIES FINL GROUP INC COM 47233W109 4,169 240,162 SH   SOLE 1 240,162 0 0
JOHNSON & JOHNSON COM 478160104 7,937 61,501 SH   SOLE 1 61,501 0 0
KEARNY FINL CORP MD COM 48716P108 7,960 620,929 SH   SOLE 1 620,929 0 0
KEYCORP NEW COM 493267108 7,236 489,600 SH   SOLE 1 489,600 0 0
KINROSS GOLD CORP COM NO PAR 496902404 431 133,100 SH   SOLE 1 133,100 0 0
KIRBY CORP COM 497266106 2,890 42,900 SH   SOLE   42,900 0 0
LANDSTAR SYS INC COM 515098101 3,205 33,500 SH   SOLE 1 33,500 0 0
LEIDOS HLDGS INC COM 525327102 8,380 158,950 SH   SOLE 1 158,950 0 0
LOEWS CORP COM 540424108 649 14,250 SH   SOLE 1 14,250 0 0
LOUISIANA PAC CORP COM 546347105 516 23,200 SH   SOLE 1 23,200 0 0
LOWES COS INC COM 548661107 9,522 103,100 SH   SOLE 1 103,100 0 0
MARSH & MCLENNAN COS INC COM 571748102 4,179 52,400 SH   SOLE   52,400 0 0
MAXIM INTEGRATED PRODS INC COM 57772K101 1,734 34,100 SH   SOLE 1 34,100 0 0
MEDTRONIC PLC SHS G5960L103 7,168 78,800 SH   SOLE 1 78,800 0 0
MERCK & CO INC COM 58933Y105 14,353 187,848 SH   SOLE 1 187,848 0 0
MERCURY GENL CORP NEW COM 589400100 10,828 209,400 SH   SOLE 1 209,400 0 0
MICROSOFT CORP COM 594918104 20,151 198,400 SH   SOLE 1 198,400 0 0
MONDELEZ INTL INC CL A 609207105 12,674 316,601 SH   SOLE 1 316,601 0 0
NEWMONT MINING CORP COM 651639106 8,018 231,400 SH   SOLE 1 231,400 0 0
NOBLE ENERGY INC COM 655044105 3,949 210,500 SH   SOLE 1 210,500 0 0
NOODLES & CO COM CL A 65540B105 3,095 442,804 SH   SOLE 1 442,804 0 0
OCEANFIRST FINL CORP COM 675234108 1,954 86,800 SH   SOLE 1 86,800 0 0
ORACLE CORP COM 68389X105 3,761 83,300 SH   SOLE 1 83,300 0 0
ORITANI FINL CORP DEL COM 68633D103 6,498 440,576 SH   SOLE 1 440,576 0 0
PATTERSON COMPANIES INC COM 703395103 5,691 289,475 SH   SOLE 1 289,475 0 0
PATTERSON COMPANIES INC COM 703395103 2,359 120,000 SH Call SOLE   120,000 0 0
PAYCHEX INC COM 704326107 6,078 93,300 SH   SOLE 1 93,300 0 0
PAYPAL HLDGS INC COM 70450Y103 4,087 48,600 SH   SOLE   48,600 0 0
PB BANCORP INC COM 70454T100 871 79,888 SH   SOLE   79,888 0 0
PCSB FINL CORP COM 69324R104 3,495 178,700 SH   SOLE 1 178,700 0 0
PEOPLES UNITED FINANCIAL INC COM 712704105 1,815 125,757 SH   SOLE 1 125,757 0 0
PJT PARTNERS INC COM CL A 69343T107 3,930 101,400 SH   SOLE   101,400 0 0
PNC FINL SVCS GROUP INC COM 693475105 18,953 162,120 SH   SOLE 1 162,120 0 0
POWELL INDS INC COM 739128106 2,756 110,200 SH   SOLE 1 110,200 0 0
PRIMERICA INC COM 74164M108 10,493 107,390 SH   SOLE 1 107,390 0 0
PROGRESSIVE CORP OHIO COM 743315103 8,332 138,100 SH   SOLE   138,100 0 0
REGAL BELOIT CORP COM 758750103 3,373 48,150 SH   SOLE 1 48,150 0 0
RENAISSANCERE HOLDINGS LTD COM G7496G103 25,437 190,254 SH   SOLE 1 190,254 0 0
RENAISSANCERE HOLDINGS LTD COM G7496G103 10,696 80,000 SH Call SOLE   80,000 0 0
RTI INTL METALS INC NOTE 1.625%10/1 74973WAB3 715 719,000 PRN   SOLE 1 719,000 0 0
RUTHS HOSPITALITY GROUP INC COM 783332109 2,737 120,400 SH   SOLE 1 120,400 0 0
SAFETY INS GROUP INC COM 78648T100 1,411 17,250 SH   SOLE 1 17,250 0 0
SCIENCE APPLICATNS INTL CP N COM 808625107 5,039 79,100 SH   SOLE 1 79,100 0 0
SELECTIVE INS GROUP INC COM 816300107 8,507 139,600 SH   SOLE 1 139,600 0 0
SUNCOR ENERGY INC NEW COM 867224107 6,830 244,200 SH   SOLE 1 244,200 0 0
SUNTRUST BKS INC COM 867914103 10,668 211,500 SH   SOLE 1 211,500 0 0
SYNAPTICS INC NOTE 0.500% 6/1 87157DAD1 1,052 1,200,000 PRN   SOLE 1 1,200,000 0 0
TELEPHONE & DATA SYS INC COM NEW 879433829 930 28,575 SH   SOLE 1 28,575 0 0
THE ONE GROUP HOSPITALITY IN COM 88338K103 376 122,450 SH   SOLE   122,450 0 0
TOOTSIE ROLL INDS INC COM 890516107 5,315 159,119 SH   SOLE 1 159,119 0 0
TORCHMARK CORP COM 891027104 13,013 174,600 SH   SOLE 1 174,600 0 0
UNITED FIRE GROUP INC COM 910340108 3,066 55,300 SH   SOLE 1 55,300 0 0
UNITED TECHNOLOGIES CORP COM 913017109 5,187 48,710 SH   SOLE   48,710 0 0
UNUM GROUP COM 91529Y106 2,204 75,000 SH Call SOLE   75,000 0 0
US BANCORP DEL COM NEW 902973304 10,351 226,500 SH   SOLE   226,500 0 0
VERINT SYS INC NOTE 1.500% 6/0 92343XAA8 1,229 1,270,000 PRN   SOLE 1 1,270,000 0 0
VOYA FINL INC COM 929089100 4,211 104,900 SH   SOLE 1 104,900 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 553 8,100 SH   SOLE 1 8,100 0 0
WATERSTONE FINL INC MD COM 94188P101 2,899 173,000 SH   SOLE 1 173,000 0 0
WESTERN NEW ENG BANCORP INC COM 958892101 2,805 279,369 SH   SOLE 1 279,369 0 0
WHITE MTNS INS GROUP LTD COM G9618E107 5,196 6,058 SH   SOLE 1 6,058 0 0
XILINX INC COM 983919101 4,540 53,300 SH   SOLE 1 53,300 0 0