-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, R74Od/pQdl6To9BuRpAAWsWxYgk/BYf0ed3LxatXgIbORzaCYvMY30dDGzac5sPM z82PblMw9qWClwzjkwnxUg== 0000919574-11-001532.txt : 20110215 0000919574-11-001532.hdr.sgml : 20110215 20110214185913 ACCESSION NUMBER: 0000919574-11-001532 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20101231 FILED AS OF DATE: 20110215 DATE AS OF CHANGE: 20110214 EFFECTIVENESS DATE: 20110215 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PROSPECTOR PARTNERS LLC CENTRAL INDEX KEY: 0001080380 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-04685 FILM NUMBER: 11610051 BUSINESS ADDRESS: STREET 1: 370 CHURCH STREET 2: STREET CITY: GUILFORD STATE: CT ZIP: 06437 MAIL ADDRESS: STREET 1: 370 CHURCH STREET 2: STREET CITY: GUILFORD STATE: CT ZIP: 06437 13F-HR 1 d1170655_13f-hr.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F Cover Page Report for the Calendar Year or Quarter Ended December 31, 2010 Check here if Amendment: |_|; Amendment Number: ____ This Amendment (Check only one): |_| is a restatement |_| adds new holding entries. Institutional Manager Filing this Report: Name: Prospector Partners, LLC Address: 370 Church Street Guilford, CT 06437 13F File Number: 028-04685 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: John D. Gillespie Title: Managing Member Phone: (203) 458-1500 Signature, Place and Date of Signing: /s/ John D. Gillespie Guilford, CT February 14, 2011 - ----------------------- -------------------------- ---------------------- [Signature] [City, State] [Date] Report Type: (Check only one): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report). [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting managers(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: NONE Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 2 Form 13F Information Table Entry Total: 325 Form 13F Information Table Value Total: $2,118,576 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name 1. 028-00470 White Mountains Advisors LLC 2. 028-12951 OneBeacon Insurance Group, Ltd. ----------------------- -------------------------------- FORM 13F INFORMATION TABLE December 31, 2010 Prospector Partners, LLC
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 - --------------------------- --------------- --------- -------- ------------------- ---------- -------- ------------------------ VALUE SHS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MGRS SOLE SHARED NONE - --------------------------- --------------- --------- -------- --------- --- ---- ---------- -------- -------- --------- ---- ABBOTT LABS COM 002824100 2,257 47,100 SH SHARED 1 47,100 ABBOTT LABS COM 002824100 12,893 269,100 SH SOLE 2 269,100 ABINGTON BANCORP INC COM 00350L109 999 83,740 SH SOLE NONE 83,740 ADVANCED MICRO DEVICES INC NOTE 5.750% 8/1 007903AN7 2,101 2,050,000 PRN SHARED 1 2,050,000 ADVANCED MICRO DEVICES INC NOTE 5.750% 8/1 007903AN7 13,274 12,950,000 PRN SOLE 2 12,950,000 AFLAC INC COM 001055102 282 5,000 SH SOLE NONE 5,000 AIR PRODS & CHEMS INC COM 009158106 1,100 12,100 SH SOLE NONE 12,100 ALBERTO CULVER CO NEW COM 013078100 1,011 27,300 SH SHARED 1 27,300 ALBERTO CULVER CO NEW COM 013078100 6,601 178,200 SH SOLE NONE 178,200 ALLEGHANY CORP DEL COM 017175100 4,269 13,934 SH SOLE NONE 13,934 ALLEGHENY ENERGY INC COM 017361106 7,134 294,300 SH SHARED 1 294,300 ALLEGHENY ENERGY INC COM 017361106 37,225 1,535,700 SH SOLE 2 1,535,700 ALLIANT TECHSYSTEMS INC COM 018804104 171 2,300 SH SHARED 1 2,300 ALLIANT TECHSYSTEMS INC COM 018804104 2,039 27,400 SH SOLE NONE 27,400 ALLIANT TECHSYSTEMS INC NOTE 3.000% 8/1 018804AK0 253 225,000 PRN SHARED 1 225,000 ALLIANT TECHSYSTEMS INC NOTE 3.000% 8/1 018804AK0 3,122 2,775,000 PRN SOLE NONE 2,775,000 ALTERRA CAPITAL HOLDINGS LIM COM G0229R108 1,060 49,004 SH SHARED 1 49,004 ALTERRA CAPITAL HOLDINGS LIM COM G0229R108 9,721 449,200 SH SOLE 2 449,200 AMEREN CORP COM 023608102 575 20,400 SH SHARED 1 20,400 AMEREN CORP COM 023608102 3,611 128,100 SH SOLE NONE 128,100 AMERICAN EAGLE OUTFITTERS NE COM 02553E106 317 21,700 SH SHARED 1 21,700 AMERICAN EAGLE OUTFITTERS NE COM 02553E106 1,304 89,100 SH SOLE NONE 89,100 AMERICAN ELEC PWR INC COM 025537101 795 22,100 SH SHARED 1 22,100 AMERICAN ELEC PWR INC COM 025537101 3,983 110,700 SH SOLE NONE 110,700 AMERICAN MED SYS HLDGS INC COM 02744M108 651 34,500 SH SHARED 1 34,500 AMERICAN MED SYS HLDGS INC COM 02744M108 1,828 96,900 SH SOLE NONE 96,900 AMERISAFE INC COM 03071H100 560 32,000 SH SOLE NONE 32,000 AMGEN INC NOTE 0.125% 2/0 031162AN0 5,418 5,425,000 PRN SHARED 1 5,425,000 AMGEN INC NOTE 0.125% 2/0 031162AN0 21,548 21,575,000 PRN SOLE 2 21,575,000 ANGLOGOLD ASHANTI LTD SPONSORED ADR 035128206 571 11,600 SH SHARED 1 11,600 ANGLOGOLD ASHANTI LTD SPONSORED ADR 035128206 3,658 74,300 SH SOLE 2 74,300 ANIXTER INTL INC NOTE 1.000% 2/1 035290AJ4 6,740 6,025,000 PRN SHARED 1 6,025,000 ANIXTER INTL INC NOTE 1.000% 2/1 035290AJ4 41,925 37,475,000 PRN SOLE 2 37,475,000 AON CORP COM 037389103 998 21,700 SH SHARED 1 21,700 AON CORP COM 037389103 11,314 245,900 SH SOLE NONE 245,900 APPLE INC COM 037833100 323 1,000 SH SHARED 1 1,000 APPLE INC COM 037833100 2,806 8,700 SH SOLE NONE 8,700 ARCH CAP GROUP LTD ORD G0450A105 1,250 14,200 SH SHARED 1 14,200 ARCH CAP GROUP LTD ORD G0450A105 25,270 286,991 SH SOLE 2 286,991 ARCHER DANIELS MIDLAND CO NOTE 0.875% 2/1 039483AW2 3,294 3,225,000 PRN SHARED 1 3,225,000 ARCHER DANIELS MIDLAND CO NOTE 0.875% 2/1 039483AW2 21,216 20,775,000 PRN SOLE 2 20,775,000 ASPEN INSURANCE HOLDINGS LTD SHS G05384105 54 1,900 SH SHARED 1 1,900 ASPEN INSURANCE HOLDINGS LTD SHS G05384105 7,015 245,103 SH SOLE NONE 245,103 ASSURANT INC COM 04621X108 4,680 121,500 SH SOLE NONE 121,500 AUTOMATIC DATA PROCESSING IN COM 053015103 7,928 171,300 SH SHARED 1 171,300 AUTOMATIC DATA PROCESSING IN COM 053015103 43,522 940,400 SH SOLE 2 940,400 BANCO SANTANDER SA ADR 05964H105 107 10,000 PUT SOLE NONE 10,000 BARRICK GOLD CORP COM 067901108 5,951 111,900 SH SHARED 1 111,900 BARRICK GOLD CORP COM 067901108 40,901 769,100 SH SOLE 2 769,100 BERKSHIRE HATHAWAY INC DEL CL A 084670108 1,084 9 SH SOLE NONE 9 BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 3,260 40,700 SH SHARED 1 40,700 BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 34,363 428,950 SH SOLE 2 428,950 BIOGEN IDEC INC COM 09062X103 342 5,100 SH SHARED 1 5,100 BIOGEN IDEC INC COM 09062X103 2,246 33,500 SH SOLE NONE 33,500 BMC SOFTWARE INC COM 055921100 1,216 25,800 SH SHARED 1 25,800 BMC SOFTWARE INC COM 055921100 6,166 130,800 SH SOLE NONE 130,800 BRINKER INTL INC COM 109641100 578 27,700 SH SOLE NONE 27,700 BROADRIDGE FINL SOLUTIONS IN COM 11133T103 485 22,100 SH SOLE NONE 22,100 CACI INTL INC CL A 127190304 883 16,540 SH SOLE NONE 16,540 CALPINE CORP COM NEW 131347304 1,191 89,300 SH SHARED 1 89,300 CALPINE CORP COM NEW 131347304 6,525 489,134 SH SOLE 2 489,134 CAMPBELL SOUP CO COM 134429109 2,210 63,600 SH SHARED 1 63,600 CAMPBELL SOUP CO COM 134429109 12,590 362,300 SH SOLE 2 362,300 CAPE BANCORP INC COM 139209100 677 79,662 SH SOLE NONE 79,662 CENTURY ALUM CO NOTE 1.750% 8/0 156431AE8 570 575,000 PRN SHARED 1 575,000 CENTURY ALUM CO NOTE 1.750% 8/0 156431AE8 3,395 3,425,000 PRN SOLE NONE 3,425,000 CHARLES RIV LABS INTL INC NOTE 2.250% 6/1 159864AB3 2,075 2,075,000 PRN SHARED 1 2,075,000 CHARLES RIV LABS INTL INC NOTE 2.250% 6/1 159864AB3 12,425 12,425,000 PRN SOLE 2 12,425,000 CHARTER FINL CORP WEST PT GA COM 16122M100 428 48,100 SH SHARED 1 48,100 CHARTER FINL CORP WEST PT GA COM 16122M100 2,126 238,900 SH SOLE 2 238,900 CHEMED CORP NEW NOTE 1.875% 5/1 16359RAC7 824 825,000 PRN SHARED 1 825,000 CHEMED CORP NEW NOTE 1.875% 5/1 16359RAC7 4,669 4,675,000 PRN SOLE 2 4,675,000 CHICOPEE BANCORP INC COM 168565109 1,296 102,471 SH SOLE NONE 102,471 CHIQUITA BRANDS INTL INC NOTE 4.250% 8/1 170032AT3 291 300,000 PRN SHARED 1 300,000 CHIQUITA BRANDS INTL INC NOTE 4.250% 8/1 170032AT3 1,647 1,700,000 PRN SOLE 2 1,700,000 CHUBB CORP COM 171232101 17,260 289,409 SH SOLE NONE 289,409 CHURCH & DWIGHT INC COM 171340102 1,360 19,700 SH SHARED 1 19,700 CHURCH & DWIGHT INC COM 171340102 11,690 169,370 SH SOLE NONE 169,370 CIENA CORP NOTE 0.250% 5/0 171779AB7 2,219 2,425,000 PRN SOLE NONE 2,425,000 CIGNA CORP COM 125509109 1,294 35,300 SH SOLE NONE 35,300 CINCINNATI FINL CORP COM 172062101 3,554 112,150 SH SOLE NONE 112,150 CISCO SYS INC COM 17275R102 941 46,500 SH SHARED 1 46,500 CISCO SYS INC COM 17275R102 4,677 231,200 SH SOLE NONE 231,200 CITIGROUP INC COM 172967101 776 164,000 SH SHARED 1 164,000 CITIGROUP INC COM 172967101 6,531 1,380,800 SH SOLE NONE 1,380,800 CLIFTON SVGS BANCORP INC COM 18712Q103 604 55,900 SH SOLE NONE 55,900 CLOROX CO DEL COM 189054109 1,044 16,500 SH SHARED 1 16,500 CLOROX CO DEL COM 189054109 6,135 96,950 SH SOLE NONE 96,950 CNA FINL CORP COM 126117100 3,971 146,800 SH SOLE NONE 146,800 COCA COLA CO COM 191216100 4,117 62,600 SH SHARED 1 62,600 COCA COLA CO COM 191216100 13,384 203,500 SH SOLE 2 203,500 COCA COLA ENTERPRISES INC NE COM 19122T109 2,090 83,500 SH SHARED 1 83,500 COCA COLA ENTERPRISES INC NE COM 19122T109 11,381 454,700 SH SOLE 2 454,700 COMCAST CORP NEW CL A SPL 20030N200 2,143 103,000 SH SHARED 1 103,000 COMCAST CORP NEW CL A SPL 20030N200 11,785 566,300 SH SOLE 2 566,300 CONNECTICUT BK&TR CO HART NE COM 207546102 569 101,686 SH SOLE NONE 101,686 DIAGEO P L C SPON ADR NEW 25243Q205 1,033 13,900 SH SOLE NONE 13,900 DICKS SPORTING GOODS INC COM 253393102 5,625 150,000 PUT SOLE NONE 150,000 DISNEY WALT CO COM DISNEY 254687106 428 11,400 SH SHARED 1 11,400 DISNEY WALT CO COM DISNEY 254687106 2,773 73,939 SH SOLE 2 73,939 DOMINION RES INC VA NEW NOTE 2.125%12/1 25746UAT6 670 550,000 PRN SHARED 1 550,000 DOMINION RES INC VA NEW NOTE 2.125%12/1 25746UAT6 3,961 3,250,000 PRN SOLE 2 3,250,000 DOMTAR CORP COM NEW 257559203 5,747 75,700 SH SHARED 1 75,700 DOMTAR CORP COM NEW 257559203 35,620 469,181 SH SOLE 2 469,181 DONEGAL GROUP INC CL A 257701201 455 31,400 SH SHARED 1 31,400 DONEGAL GROUP INC CL A 257701201 2,485 171,600 SH SOLE 2 171,600 DU PONT E I DE NEMOURS & CO COM 263534109 9,986 200,200 SH SHARED 1 200,200 DU PONT E I DE NEMOURS & CO COM 263534109 52,673 1,056,000 SH SOLE 2 1,056,000 E M C CORP MASS COM 268648102 1,553 67,800 SH SHARED 1 67,800 E M C CORP MASS COM 268648102 8,116 354,400 SH SOLE NONE 354,400 E M C CORP MASS COM 268648102 2,290 100,000 CALL SOLE NONE 100,000 EL PASO CORP COM 28336L109 787 57,200 SH SHARED 1 57,200 EL PASO CORP COM 28336L109 4,874 354,200 SH SOLE 2 354,200 EL PASO ENERGY CAP TR I PFD CV TR SECS 283678209 632 16,300 SH SHARED 1 16,300 EL PASO ENERGY CAP TR I PFD CV TR SECS 283678209 3,829 98,800 SH SOLE 2 98,800 EMPIRE DIST ELEC CO COM 291641108 864 38,900 SH SHARED 1 38,900 EMPIRE DIST ELEC CO COM 291641108 3,341 150,500 SH SOLE NONE 150,500 EMPLOYERS HOLDINGS INC COM 292218104 528 30,200 SH SOLE NONE 30,200 FIFTH THIRD BANCORP COM 316773100 662 45,100 SH SHARED 1 45,100 FIRST AMERN FINL CORP COM 31847R102 807 54,000 SH SHARED 1 54,000 FIRST AMERN FINL CORP COM 31847R102 4,549 304,500 SH SOLE 2 304,500 FIRST DEFIANCE FINL CORP COM 32006W106 494 41,500 SH SOLE NONE 41,500 FIRSTENERGY CORP COM 337932107 1,847 49,900 SH SOLE NONE 49,900 FORESTAR GROUP INC COM 346233109 1,143 59,200 SH SHARED 1 59,200 FORESTAR GROUP INC COM 346233109 7,392 383,000 SH SOLE 2 383,000 FORTUNE BRANDS INC COM 349631101 2,705 44,900 SH SHARED 1 44,900 FORTUNE BRANDS INC COM 349631101 18,310 303,900 SH SOLE 2 303,900 FOX CHASE BANCORP INC NEW COM 35137T108 296 25,000 SH SHARED 1 25,000 FOX CHASE BANCORP INC NEW COM 35137T108 2,513 212,103 SH SOLE NONE 212,103 FRANKLIN RES INC COM 354613101 1,479 13,300 SH SHARED 1 13,300 FRANKLIN RES INC COM 354613101 22,251 200,082 SH SOLE NONE 200,082 GALLAGHER ARTHUR J & CO COM 363576109 3,449 118,600 SH SOLE NONE 118,600 GENON ENERGY INC COM 37244E107 5,603 1,470,514 SH SHARED 1 1,470,514 GENON ENERGY INC COM 37244E107 37,485 9,838,543 SH SOLE 2 9,838,543 GILEAD SCIENCES INC NOTE 0.625% 5/0 375558AH6 937 850,000 PRN SHARED 1 850,000 GILEAD SCIENCES INC NOTE 0.625% 5/0 375558AH6 5,678 5,150,000 PRN SOLE 2 5,150,000 GOLD FIELDS LTD NEW SPONSORED ADR 38059T106 9,440 520,700 SH SHARED 1 520,700 GOLD FIELDS LTD NEW SPONSORED ADR 38059T106 50,463 2,783,400 SH SOLE 2 2,783,400 GRACO INC COM 384109104 1,657 42,000 SH SOLE NONE 42,000 GREATBATCH INC SDCV 2.250% 6/1 39153LAB2 2,364 2,425,000 PRN SHARED 1 2,425,000 GREATBATCH INC SDCV 2.250% 6/1 39153LAB2 15,186 15,575,000 PRN SOLE 2 15,575,000 GUARANTY BANCORP DEL COM 40075T102 1,824 1,293,628 SH SHARED 1 1,293,628 GUARANTY BANCORP DEL COM 40075T102 615 435,926 SH SOLE NONE 435,926 HALLMARK FINL SVCS INC EC COM NEW 40624Q203 387 42,500 SH SOLE NONE 42,500 HAMPDEN BANCORP INC COM 40867E107 312 27,566 SH SOLE NONE 27,566 HESS CORP COM 42809H107 3,222 42,100 SH SHARED 1 42,100 HESS CORP COM 42809H107 21,894 286,051 SH SOLE 2 286,051 HEWLETT PACKARD CO COM 428236103 1,250 29,700 SH SHARED 1 29,700 HEWLETT PACKARD CO COM 428236103 6,517 154,800 SH SOLE NONE 154,800 HOME DEPOT INC COM 437076102 1,655 47,200 SH SHARED 1 47,200 HOME DEPOT INC COM 437076102 5,157 147,100 SH SOLE NONE 147,100 HUGOTON RTY TR TEX UNIT BEN INT 444717102 404 19,700 SH SOLE NONE 19,700 HUMANA INC COM 444859102 487 8,900 SH SHARED 1 8,900 HUMANA INC COM 444859102 1,943 35,500 SH SOLE NONE 35,500 INVESCO LTD SHS G491BT108 1,068 44,400 SH SHARED 1 44,400 INVESCO LTD SHS G491BT108 5,820 241,900 SH SOLE NONE 241,900 JOHNSON & JOHNSON COM 478160104 3,402 55,000 SH SHARED 1 55,000 JOHNSON & JOHNSON COM 478160104 13,545 219,000 SH SOLE 2 219,000 JOS A BANK CLOTHIERS INC COM 480838101 544 13,500 PUT SOLE NONE 13,500 JPMORGAN CHASE & CO COM 46625H100 2,711 63,900 SH SHARED 1 63,900 JPMORGAN CHASE & CO COM 46625H100 18,711 441,100 SH SOLE NONE 441,100 KINROSS GOLD CORP COM NO PAR 496902404 1,522 80,300 SH SHARED 1 80,300 KINROSS GOLD CORP COM NO PAR 496902404 3,758 198,200 SH SOLE NONE 198,200 KINROSS GOLD CORP NOTE 1.750% 3/1 496902AD9 4,305 4,175,000 PRN SHARED 1 4,175,000 KINROSS GOLD CORP NOTE 1.750% 3/1 496902AD9 15,804 15,325,000 PRN SOLE 2 15,325,000 L-3 COMMUNICATIONS CORP DEBT 3.000% 8/0 502413AW7 927 925,000 PRN SHARED 1 925,000 L-3 COMMUNICATIONS CORP DEBT 3.000% 8/0 502413AW7 5,589 5,575,000 PRN SOLE 2 5,575,000 LEUCADIA NATL CORP COM 527288104 1,765 60,500 SH SHARED 1 60,500 LEUCADIA NATL CORP COM 527288104 23,349 800,184 SH SOLE NONE 800,184 LEXMARK INTL NEW CL A 529771107 4,353 125,000 PUT SOLE NONE 125,000 LOCKHEED MARTIN CORP COM 539830109 2,216 31,700 SH SOLE NONE 31,700 LOEWS CORP COM 540424108 4,023 103,400 SH SHARED 1 103,400 LOEWS CORP COM 540424108 22,249 571,800 SH SOLE 2 571,800 MAIDEN HOLDINGS LTD SHS G5753U112 912 116,000 SH SOLE NONE 116,000 MARATHON OIL CORP COM 565849106 6,821 184,200 SH SHARED 1 184,200 MARATHON OIL CORP COM 565849106 31,098 839,800 SH SOLE 2 839,800 MARKET VECTORS ETF TR GOLD MINER ETF 57060U100 10,358 168,500 SH SOLE NONE 168,500 MARVELL TECHNOLOGY GROUP LTD ORD G5876H105 3,113 167,800 SH SOLE NONE 167,800 MEDTRONIC INC NOTE 1.500% 4/1 585055AL0 4,300 4,300,000 PRN SHARED 1 4,300,000 MEDTRONIC INC NOTE 1.500% 4/1 585055AL0 16,700 16,700,000 PRN SOLE 2 16,700,000 MERCER INS GROUP INC COM 587902107 288 10,300 SH SHARED 1 10,300 MERCER INS GROUP INC COM 587902107 5,923 211,600 SH SOLE 2 211,600 MERCK & CO INC NEW COM 58933Y105 1,030 28,593 SH SOLE NONE 28,593 MEREDITH CORP COM 589433101 5,371 155,000 SH SOLE NONE 155,000 METLIFE INC COM 59156R108 9,281 208,851 SH SOLE NONE 208,851 MF GLOBAL HLDGS LTD COM 55277J108 2,109 252,300 SH SOLE NONE 252,300 MICROSOFT CORP COM 594918104 1,773 63,500 SH SHARED 1 63,500 MICROSOFT CORP COM 594918104 5,285 189,300 SH SOLE NONE 189,300 MOLSON COORS BREWING CO CL B 60871R209 748 14,900 SH SHARED 1 14,900 MOLSON COORS BREWING CO CL B 60871R209 4,497 89,600 SH SOLE NONE 89,600 MORTONS RESTAURANT GRP INC N COM 619430101 759 117,177 SH SOLE NONE 117,177 MURPHY OIL CORP COM 626717102 1,797 24,100 SH SHARED 1 24,100 MURPHY OIL CORP COM 626717102 6,784 91,000 SH SOLE NONE 91,000 NAVIGATORS GROUP INC COM 638904102 3,459 68,700 SH SOLE NONE 68,700 NEENAH PAPER INC COM 640079109 1,104 56,100 SH SHARED 1 56,100 NEENAH PAPER INC COM 640079109 7,270 369,400 SH SOLE 2 369,400 NETAPP INC. COM 64110D104 4,567 83,100 SH SOLE NONE 83,100 NEW YORK TIMES CO CL A 650111107 49 5,000 SH SHARED 1 5,000 NEW YORK TIMES CO CL A 650111107 2,232 227,800 SH SOLE NONE 227,800 NEWMONT MINING CORP COM 651639106 6,591 107,300 SH SHARED 1 107,300 NEWMONT MINING CORP COM 651639106 48,941 796,700 SH SOLE 2 796,700 NEWMONT MINING CORP NOTE 1.250% 7/1 651639AH9 1,649 1,150,000 PRN SHARED 1 1,150,000 NEWMONT MINING CORP NOTE 1.250% 7/1 651639AH9 10,538 7,350,000 PRN SOLE 2 7,350,000 NEXEN INC COM 65334H102 8,505 371,400 SH SHARED 1 371,400 NEXEN INC COM 65334H102 46,551 2,032,800 SH SOLE 2 2,032,800 NORTHERN TR CORP COM 665859104 7,874 142,100 SH SOLE NONE 142,100 NORTHGATE MINERALS CORP COM 666416102 344 107,400 SH SHARED 1 107,400 NORTHGATE MINERALS CORP COM 666416102 1,877 586,700 SH SOLE 2 586,700 NORTHGATE MINERALS CORP NOTE 3.500%10/0 666416AB8 457 425,000 PRN SHARED 1 425,000 NORTHGATE MINERALS CORP NOTE 3.500%10/0 666416AB8 2,771 2,575,000 PRN SOLE 2 2,575,000 NORTHWESTERN CORP COM NEW 668074305 176 6,100 SH SHARED 1 6,100 NORTHWESTERN CORP COM NEW 668074305 216 7,500 SH SOLE NONE 7,500 NV ENERGY INC COM 67073Y106 12,971 923,200 SH SOLE NONE 923,200 NVR INC COM 62944T105 484 700 SH SHARED 1 700 NVR INC COM 62944T105 11,119 16,090 SH SOLE NONE 16,090 OCEAN SHORE HLDG CO NEW COM 67501R103 646 56,449 SH SOLE NONE 56,449 OMNIAMERICAN BANCORP INC COM 68216R107 3,037 224,100 SH SOLE NONE 224,100 ORIENTAL FINL GROUP INC COM 68618W100 942 75,400 SH SOLE NONE 75,400 ORITANI FINL CORP DEL COM 68633D103 412 33,700 SH SHARED 1 33,700 ORITANI FINL CORP DEL COM 68633D103 6,767 552,861 SH SOLE NONE 552,861 PENN MILLERS HLDG CORP COM 707561106 1,856 141,239 SH SOLE NONE 141,239 PENN VA CORP NOTE 4.500%11/1 707882AA4 1,213 1,225,000 PRN SHARED 1 1,225,000 PENN VA CORP NOTE 4.500%11/1 707882AA4 8,687 8,775,000 PRN SOLE 2 8,775,000 PEPSICO INC COM 713448108 2,679 41,000 SH SHARED 1 41,000 PEPSICO INC COM 713448108 12,700 194,400 SH SOLE NONE 194,400 PEPSICO INC COM 713448108 3,071 47,000 CALL SOLE NONE 47,000 PFIZER INC COM 717081103 5,946 339,600 SH SHARED 1 339,600 PFIZER INC COM 717081103 29,774 1,700,415 SH SOLE 2 1,700,415 PFIZER INC COM 717081103 2,451 140,000 CALL SOLE NONE 140,000 PHH CORP NOTE 4.000% 4/1 693320AH6 614 500,000 PRN SOLE NONE 500,000 PHILIP MORRIS INTL INC COM 718172109 2,054 35,100 SH SHARED 1 35,100 PHILIP MORRIS INTL INC COM 718172109 3,892 66,500 SH SOLE NONE 66,500 PICO HLDGS INC COM NEW 693366205 1,940 61,000 SH SOLE NONE 61,000 PLATINUM UNDERWRITER HLDGS L COM G7127P100 4,681 104,100 SH SHARED 1 104,100 PLATINUM UNDERWRITER HLDGS L COM G7127P100 50,684 1,127,056 SH SOLE 2 1,127,056 POPULAR INC COM 733174106 943 300,430 SH SOLE NONE 300,430 POST PPTYS INC COM 737464107 3,674 101,200 SH SHARED 1 101,200 POST PPTYS INC COM 737464107 20,996 578,400 SH SOLE 2 578,400 PROCTER & GAMBLE CO COM 742718109 868 13,500 SH SHARED 1 13,500 PROCTER & GAMBLE CO COM 742718109 4,539 70,558 SH SOLE NONE 70,558 PROGRESSIVE CORP OHIO COM 743315103 6,656 335,000 SH SOLE NONE 335,000 PRUDENTIAL FINL INC COM 744320102 4,932 84,000 SH SOLE NONE 84,000 PSB HLDGS INC COM 69360W108 475 114,486 SH SOLE NONE 114,486 PUBLIC SVC ENTERPRISE GROUP COM 744573106 1,250 39,300 SH SHARED 1 39,300 PUBLIC SVC ENTERPRISE GROUP COM 744573106 7,135 224,300 SH SOLE 2 224,300 QUALCOMM INC COM 747525103 495 10,000 SH SHARED 1 10,000 QUALCOMM INC COM 747525103 584 11,800 SH SOLE NONE 11,800 RENAISSANCERE HOLDINGS LTD COM G7496G103 1,650 25,900 SH SOLE NONE 25,900 REPSOL YPF S A SPONSORED ADR 76026T205 2,674 95,700 SH SHARED 1 95,700 REPSOL YPF S A SPONSORED ADR 76026T205 18,345 656,600 SH SOLE 2 656,600 ROMA FINANCIAL CORP COM 77581P109 499 47,110 SH SOLE NONE 47,110 RTI INTL METALS INC NOTE 3.000%12/0 74973WAA5 155 150,000 PRN SHARED 1 150,000 RTI INTL METALS INC NOTE 3.000%12/0 74973WAA5 881 850,000 PRN SOLE 2 850,000 SAFETY INS GROUP INC COM 78648T100 2,574 54,100 SH SOLE NONE 54,100 SARA LEE CORP COM 803111103 1,613 92,100 SH SHARED 1 92,100 SARA LEE CORP COM 803111103 9,151 522,600 SH SOLE 2 522,600 SMITHFIELD FOODS INC NOTE 4.000% 6/3 832248AR9 2,099 1,800,000 PRN SHARED 1 1,800,000 SMITHFIELD FOODS INC NOTE 4.000% 6/3 832248AR9 11,896 10,200,000 PRN SOLE 2 10,200,000 SPDR GOLD TRUST GOLD SHS 78463V107 22,903 165,100 SH SOLE NONE 165,100 SPDR S&P 500 ETF TR TR UNIT 78462F103 21,722 172,700 SH SOLE NONE 172,700 STATE AUTO FINL CORP COM 855707105 2,691 154,500 SH SHARED 1 154,500 STATE AUTO FINL CORP COM 855707105 15,291 877,800 SH SOLE 2 877,800 STATE BANCORP INC N.Y COM 855716106 453 48,924 SH SOLE NONE 48,924 STEWART INFORMATION SVCS COR COM 860372101 231 20,000 SH SOLE NONE 20,000 SUPERVALU INC COM 868536103 1,086 112,800 SH SHARED 1 112,800 SUPERVALU INC COM 868536103 6,021 625,198 SH SOLE 2 625,198 SYMANTEC CORP COM 871503108 147 8,800 SH SOLE NONE 8,800 SYMANTEC CORP NOTE 0.750% 6/1 871503AD0 1,425 1,375,000 PRN SOLE NONE 1,375,000 SYMETRA FINL CORP COM 87151Q106 32,644 2,382,773 SH SOLE NONE 2,382,773 SYMS CORP COM 871551107 87 12,000 SH SOLE NONE 12,000 SYNOPSYS INC COM 871607107 239 8,900 SH SHARED 1 8,900 SYNOPSYS INC COM 871607107 1,625 60,400 SH SOLE NONE 60,400 SYSCO CORP COM 871829107 535 18,200 SH SHARED 1 18,200 SYSCO CORP COM 871829107 738 25,100 SH SOLE NONE 25,100 SYSCO CORP COM 871829107 9,408 320,000 CALL SOLE NONE 320,000 TELEPHONE & DATA SYS INC COM 879433100 1,637 44,800 SH SHARED 1 44,800 TELEPHONE & DATA SYS INC COM 879433100 9,214 252,100 SH SOLE 2 252,100 TERADATA CORP DEL COM 88076W103 1,506 36,600 SH SOLE NONE 36,600 TERRITORIAL BANCORP INC COM 88145X108 2,089 104,900 SH OLE NONE 104,900 THOMAS PPTYS GROUP INC COM 884453101 15 3,500 SH SHARED 1 3,500 THOMAS PPTYS GROUP INC COM 884453101 2,839 672,787 SH SOLE 2 672,787 TOLL BROTHERS INC COM 889478103 842 44,300 SH SHARED 1 44,300 TOLL BROTHERS INC COM 889478103 4,450 234,200 SH SOLE NONE 234,200 TOOTSIE ROLL INDS INC COM 890516107 2,956 102,029 SH SHARED 1 102,029 TOOTSIE ROLL INDS INC COM 890516107 18,920 653,088 SH SOLE 2 653,088 TRINITY INDS INC NOTE 3.875% 6/0 896522AF6 2,396 2,525,000 PRN SHARED 1 2,525,000 TRINITY INDS INC NOTE 3.875% 6/0 896522AF6 15,631 16,475,000 PRN SOLE 2 16,475,000 TYCO INTERNATIONAL LTD SHS H89128104 220 5,300 SH SHARED 1 5,300 TYCO INTERNATIONAL LTD SHS H89128104 10,687 257,900 SH SOLE 2 257,900 UAL CORP DBCV 5.000% 2/0 902549AE4 1,814 1,925,000 PRN SHARED 1 1,925,000 UAL CORP DBCV 5.000% 2/0 902549AE4 10,721 11,375,000 PRN SOLE 2 11,375,000 UAL CORP NOTE 4.500% 6/3 902549AH7 1,119 1,100,000 PRN SHARED 1 1,100,000 UAL CORP NOTE 4.500% 6/3 902549AH7 6,003 5,900,000 PRN SOLE 2 5,900,000 UNISOURCE ENERGY CORP COM 909205106 4,957 138,300 SH SOLE NONE 138,300 UNISOURCE ENERGY CORP NOTE 4.500% 3/0 909205AB2 4,823 4,550,000 PRN SHARED 1 4,550,000 UNISOURCE ENERGY CORP NOTE 4.500% 3/0 909205AB2 25,917 24,450,000 PRN SOLE 2 24,450,000 UNITIL CORP COM 913259107 728 32,000 SH SOLE NONE 32,000 UNUM GROUP COM 91529Y106 6,290 259,700 SH SOLE NONE 259,700 USEC INC COM 90333E108 291 48,400 SH SHARED 1 48,400 USEC INC COM 90333E108 1,665 276,600 SH SOLE 2 276,600 USEC INC NOTE 3.000%10/0 90333EAC2 9,158 10,175,000 PRN SHARED 1 10,175,000 USEC INC NOTE 3.000%10/0 90333EAC2 58,793 65,325,000 PRN SOLE 2 65,325,000 VIEWPOINT FINL GROUP INC MD COM 92672A101 2,558 218,800 SH SOLE NONE 218,800 WAL MART STORES INC COM 931142103 3,317 61,500 SH SHARED 1 61,500 WAL MART STORES INC COM 931142103 5,210 96,600 SH SOLE 2 96,600 WAL MART STORES INC COM 931142103 4,314 80,000 CALL SOLE NONE 80,000 WALGREEN CO COM 931422109 3,592 92,200 SH SHARED 1 92,200 WALGREEN CO COM 931422109 19,967 512,500 SH SOLE 2 512,500 WASHINGTON POST CO CL B 939640108 132 300 SH SOLE NONE 300 WATERSTONE FINANCIAL INC COM 941888109 584 179,700 SH SOLE NONE 179,700 WELLPOINT INC COM 94973V107 1,376 24,200 SH SHARED 1 24,200 WELLPOINT INC COM 94973V107 8,620 151,600 SH SOLE NONE 151,600 WESCO FINL CORP COM 950817106 438 1,189 SH SOLE NONE 1,189 WESTERN UN CO COM 959802109 195 10,500 SH SOLE NONE 10,500 WESTFIELD FINANCIAL INC NEW COM 96008P104 1,039 112,300 SH SOLE NONE 112,300 WHITE MTNS INS GROUP LTD COM G9618E107 16,780 50,000 SH SOLE NONE 50,000 WHITE RIVER CAPITAL INC COM 96445P105 235 14,330 SH SOLE NONE 14,330 WILLIAMS CLAYTON ENERGY INC COM 969490101 4,064 48,400 SH SHARED 1 48,400 WILLIAMS CLAYTON ENERGY INC COM 969490101 22,630 269,500 SH SOLE 2 269,500 XEROX CORP COM 984121103 4,449 386,200 SH SHARED 1 386,200 XEROX CORP COM 984121103 26,088 2,264,622 SH SOLE 2 2,264,622 XILINX INC COM 983919101 1,069 36,900 SH SHARED 1 36,900 XILINX INC COM 983919101 5,425 187,200 SH SOLE NONE 187,200 YUM BRANDS INC COM 988498101 392 8,000 SH SHARED 1 8,000 YUM BRANDS INC COM 988498101 3,326 67,800 SH SOLE NONE 67,800
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