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
ALLEGHANY CORP DEL COM 017175100 14,604 24,500 SH   SOLE 1,2,3,4 24,500 0 0
ALLIANCEBERNSTEIN HOLDING LP UNIT LTD PARTN 01881G106 10,259 409,554 SH   SOLE 1,2 409,554 0 0
CME GROUP INC COM CL A 12572Q105 7,503 51,372 SH   SOLE 1,2,3,4 51,372 0 0
CARLYLE GROUP L P COM UTS LTD PTN 14309L102 16,625 725,986 SH   SOLE 1,2 725,986 0 0
CENTURY CMNTYS INC COM 156504300 17,001 546,642 SH   SOLE 1,2,3 546,642 0 0
EMPLOYERS HOLDINGS INC COM 292218104 11,200 252,242 SH   SOLE 1,2,3,4 252,242 0 0
EZCORP INC CL A NON VTG 302301106 14,047 1,151,389 SH   SOLE 1,2,3 1,151,389 0 0
FIVE POINT HOLDINGS LLC COM CL A 33833Q106 32,500 2,304,931 SH   SOLE 1,2,3,4 2,304,931 0 0
INVESTMENT TECHNOLOGY GRP NE COM 46145F105 26,464 1,374,777 SH   SOLE 1,2,3,4 1,374,777 0 0
ONEMAIN HLDGS INC COM 68268W103 8,379 322,375 SH   SOLE 1,2,3,4 322,375 0 0
PERFORMANT FINL CORP COM 71377E105 6,123 3,711,081 SH   SOLE 1,2,3 3,711,081 0 0
POPULAR INC COM NEW 733174700 31,347 883,268 SH   SOLE 1,2,3,4 883,268 0 0
SLM CORP COM 78442P106 21,721 1,922,209 SH   SOLE 1,2,3,4 1,922,209 0 0
SANTANDER CONSUMER USA HDG I COM 80283M101 36,715 1,971,785 SH   SOLE 1,2,3,4 1,971,785 0 0
UNITED INS HLDGS CORP COM 910710102 21,288 1,234,098 SH   SOLE 1,2,3 1,234,098 0 0
VIRTUS INVT PARTNERS INC COM 92828Q109 26,493 230,270 SH   SOLE 1,2,3,4 230,270 0 0
ASSURED GUARANTY LTD COM G0585R106 35,512 1,048,474 SH   SOLE 1,2,3,4 1,048,474 0 0
JAMES RIV GROUP LTD COM G5005R107 24,502 612,390 SH   SOLE 1,2,3,4 612,390 0 0
OM ASSET MGMT PLC SHS G67506108 19,029 1,136,053 SH   SOLE 1,2,3,4 1,136,053 0 0
TRITON INTL LTD CL A G9078F107 23,114 617,188 SH   SOLE 1,2,3,4 617,188 0 0
VALIDUS HOLDINGS LTD COM SHS G9319H102 15,500 330,356 SH   SOLE 1,2,3,4 330,356 0 0
WILLIS TOWERS WATSON PUB LTD SHS G96629103 9,619 63,834 SH   SOLE 1,2,3,4 63,834 0 0
CORECIVIC INC COM 21871N101 25,772 1,145,426 SH   SOLE 1,2,3,4 1,145,426 0 0
GEO GROUP INC NEW COM 36162J106 26,810 1,136,034 SH   SOLE 1,2,3,4 1,136,034 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 15,630 262,340 SH   SOLE 1,2,3,4 262,340 0 0
APOLLO GLOBAL MGMT LLC CL A SHS 037612306 7,242 216,363 SH   SOLE 1,2 216,363 0 0
BANCO MACRO SA SPON ADR B 05961W105 15,255 131,643 SH   SOLE 1,2,3,4 131,643 0 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 7,033 219,653 SH   SOLE 1,2 219,653 0 0
CORPORATE CAP TR INC COM 219880101 8,640 540,660 SH   SOLE 1,2,3,4 540,660 0 0
COWEN INC CL A NEW 223622606 5,470 400,722 SH   SOLE 1,2,3 400,722 0 0
CURO GROUP HLDGS CORP COM 23131L107 14,411 1,023,543 SH   SOLE 1,2,3 1,023,543 0 0
DISCOVER FINL SVCS COM 254709108 9,758 126,860 SH   SOLE 1,2,3,4 126,860 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 11,504 232,078 SH   SOLE 1,2,3,4 232,078 0 0
FIRST DATA CORP NEW COM CL A 32008D106 19,804 1,185,167 SH   SOLE 1,2,3,4 1,185,167 0 0
HOME BANCSHARES INC COM 436893200 12,451 535,509 SH   SOLE 1,2,3,4 535,509 0 0
LPL FINL HLDGS INC COM 50212V100 15,705 274,849 SH   SOLE 1,2,3,4 274,849 0 0
RENAISSANCERE HOLDINGS LTD COM G7496G103 17,230 137,193 SH   SOLE 1,2,3,4 137,193 0 0
RENT A CTR INC NEW COM 76009N100 19,474 1,754,432 SH   SOLE 1,2,3 1,754,432 0 0
STERLING BANCORP INC COM 85917W102 15,855 1,248,397 SH   SOLE 1,2,3 1,248,397 0 0