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 8,246 112,400 SH   SOLE 1 112,400 0 0
AFLAC INC COM 001055102 11,777 250,200 SH   SOLE 1 250,200 0 0
AGNICO EAGLE MINES LTD COM 008474108 3,721 108,800 SH   SOLE 1 108,800 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 6,522 122,500 SH Call SOLE   122,500 0 0
ASSOCIATED BANC CORP COM 045487105 6,482 249,295 SH   SOLE 1 249,295 0 0
ASTRAZENECA PLC SPONSORED ADR 046353108 2,366 59,800 SH   SOLE 1 59,800 0 0
ATLANTIC CAP BANCSHARES INC COM 048269203 1,684 100,508 SH   SOLE   100,508 0 0
AXIS CAPITAL HOLDINGS LTD SHS G0692U109 8,882 153,900 SH   SOLE 1 153,900 0 0
BANK OF NT BUTTERFIELD&SON L SHS NEW G0772R208 5,502 106,100 SH   SOLE 1 106,100 0 0
BENEFICIAL BANCORP INC COM 08171T102 7,427 439,472 SH   SOLE 1 439,472 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 45,677 213,334 SH   SOLE 1 213,334 0 0
BOOKING HLDGS INC COM 09857L108 1,587 800 SH Put SOLE   800 0 0
BRINKER INTL INC COM 109641100 4,486 96,000 SH Put SOLE   96,000 0 0
BROWN & BROWN INC COM 115236101 29,807 1,008,000 SH   SOLE 1 1,008,000 0 0
BSB BANCORP INC MD COM 05573H108 596 18,280 SH   SOLE 1 18,280 0 0
CAMPBELL SOUP CO COM 134429109 454 12,400 SH   SOLE 1 12,400 0 0
CENTRAL PAC FINL CORP COM NEW 154760409 8,270 312,900 SH   SOLE 1 312,900 0 0
CENTRAL VALLEY CMNTY BANCORP COM 155685100 1,079 49,928 SH   SOLE 1 49,928 0 0
CHURCH & DWIGHT INC COM 171340102 12,170 204,984 SH   SOLE 1 204,984 0 0
CINCINNATI FINL CORP COM 172062101 11,786 153,450 SH   SOLE 1 153,450 0 0
CIRCOR INTL INC COM 17273K109 6,750 142,100 SH   SOLE 1 142,100 0 0
CITIGROUP INC COM NEW 172967424 8,008 111,619 SH   SOLE 1 111,619 0 0
COCA COLA CO COM 191216100 4,331 93,775 SH   SOLE 1 93,775 0 0
COLGATE PALMOLIVE CO COM 194162103 8,874 132,550 SH   SOLE 1 132,550 0 0
COMERICA INC COM 200340107 1,200 13,300 SH   SOLE 1 13,300 0 0
COUSINS PPTYS INC COM 222795106 4,538 510,450 SH   SOLE 1 510,450 0 0
DARDEN RESTAURANTS INC COM 237194105 2,190 19,700 SH   SOLE 1 19,700 0 0
DEL FRISCOS RESTAURANT GROUP COM 245077102 1,531 184,400 SH   SOLE 1 184,400 0 0
DIME CMNTY BANCSHARES COM 253922108 2,854 159,900 SH   SOLE 1 159,900 0 0
DOMTAR CORP COM NEW 257559203 3,274 62,753 SH   SOLE 1 62,753 0 0
EATON CORP PLC SHS G29183103 7,454 85,950 SH   SOLE 1 85,950 0 0
EBAY INC COM 278642103 3,434 104,000 SH Call SOLE   104,000 0 0
EBAY INC COM 278642103 5,772 174,800 SH   SOLE 1 174,800 0 0
EMPLOYERS HOLDINGS INC COM 292218104 3,488 77,000 SH   SOLE 1 77,000 0 0
FARO TECHNOLOGIES INC COM 311642102 3,102 48,200 SH   SOLE 1 48,200 0 0
FEDERATED INVS INC PA CL B 314211103 10,234 424,300 SH   SOLE 1 424,300 0 0
FIRST AMERN FINL CORP COM 31847R102 804 15,575 SH   SOLE 1 15,575 0 0
FIRST CONN BANCORP INC MD COM 319850103 2,326 78,700 SH   SOLE 1 78,700 0 0
FLIR SYS INC COM 302445101 14,270 232,150 SH   SOLE 1 232,150 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 832 32,396 SH   SOLE 1 32,396 0 0
FRANKLIN RES INC COM 354613101 651 21,408 SH   SOLE   21,408 0 0
GENERAL DYNAMICS CORP COM 369550108 6,236 30,460 SH   SOLE   30,460 0 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 5,560 138,400 SH   SOLE 1 138,400 0 0
HABIT RESTAURANTS INC COM CL A 40449J103 2,056 128,900 SH   SOLE 1 128,900 0 0
HANOVER INS GROUP INC COM 410867105 7,686 62,300 SH   SOLE 1 62,300 0 0
HESS CORP COM 42809H107 7,021 98,080 SH   SOLE 1 98,080 0 0
HOME DEPOT INC COM 437076102 8,448 40,784 SH   SOLE 1 40,784 0 0
HOMETRUST BANCSHARES INC COM 437872104 5,655 194,000 SH   SOLE 1 194,000 0 0
HOWARD HUGHES CORP COM 44267D107 497 4,000 SH   SOLE 1 4,000 0 0
HYATT HOTELS CORP COM CL A 448579102 3,881 48,765 SH   SOLE 1 48,765 0 0
INVESCO LTD SHS G491BT108 7,271 317,800 SH   SOLE 1 317,800 0 0
JACK IN THE BOX INC COM 466367109 939 11,200 SH Put SOLE   11,200 0 0
JEFFERIES FINL GROUP INC COM 47233W109 5,261 239,562 SH   SOLE 1 239,562 0 0
JOHNSON & JOHNSON COM 478160104 8,748 63,311 SH   SOLE 1 63,311 0 0
KEARNY FINL CORP MD COM 48716P108 7,659 553,029 SH   SOLE 1 553,029 0 0
KEYCORP NEW COM 493267108 13,072 657,200 SH   SOLE 1 657,200 0 0
KINROSS GOLD CORP COM NO PAR 496902404 359 133,100 SH   SOLE 1 133,100 0 0
KIRBY CORP COM 497266106 3,512 42,700 SH   SOLE   42,700 0 0
LANDSTAR SYS INC COM 515098101 4,087 33,500 SH   SOLE 1 33,500 0 0
LOEWS CORP COM 540424108 716 14,250 SH   SOLE 1 14,250 0 0
LOUISIANA PAC CORP COM 546347105 615 23,200 SH   SOLE 1 23,200 0 0
LOWES COS INC COM 548661107 11,872 103,400 SH   SOLE 1 103,400 0 0
MARSH & MCLENNAN COS INC COM 571748102 6,800 82,200 SH   SOLE   82,200 0 0
MAXIM INTEGRATED PRODS INC COM 57772K101 1,923 34,100 SH   SOLE 1 34,100 0 0
MEDTRONIC PLC SHS G5960L103 7,722 78,500 SH   SOLE 1 78,500 0 0
MERCK & CO INC COM 58933Y105 13,290 187,348 SH   SOLE 1 187,348 0 0
MERCURY GENL CORP NEW COM 589400100 11,211 223,500 SH   SOLE 1 223,500 0 0
MICROSOFT CORP COM 594918104 23,595 206,300 SH   SOLE 1 206,300 0 0
MONDELEZ INTL INC CL A 609207105 11,836 275,501 SH   SOLE 1 275,501 0 0
NEWMONT MINING CORP COM 651639106 1,133 37,500 SH   SOLE 1 37,500 0 0
NOBLE ENERGY INC COM 655044105 7,490 240,135 SH   SOLE 1 240,135 0 0
NOODLES & CO COM CL A 65540B105 5,164 426,804 SH   SOLE 1 426,804 0 0
OCEANFIRST FINL CORP COM 675234108 2,363 86,800 SH   SOLE 1 86,800 0 0
OPUS BK IRVINE CALIF COM 684000102 1,828 66,700 SH   SOLE 1 66,700 0 0
ORACLE CORP COM 68389X105 4,182 81,100 SH   SOLE 1 81,100 0 0
ORITANI FINL CORP DEL COM 68633D103 6,053 389,276 SH   SOLE 1 389,276 0 0
PATTERSON COMPANIES INC COM 703395103 2,934 120,000 SH Call SOLE   120,000 0 0
PATTERSON COMPANIES INC COM 703395103 7,063 288,875 SH   SOLE 1 288,875 0 0
PAYCHEX INC COM 704326107 6,857 93,100 SH   SOLE 1 93,100 0 0
PAYPAL HLDGS INC COM 70450Y103 4,260 48,500 SH   SOLE   48,500 0 0
PB BANCORP INC COM 70454T100 939 79,888 SH   SOLE   79,888 0 0
PCSB FINL CORP COM 69324R104 3,387 166,500 SH   SOLE 1 166,500 0 0
PJT PARTNERS INC COM CL A 69343T107 5,287 101,000 SH   SOLE   101,000 0 0
PNC FINL SVCS GROUP INC COM 693475105 19,197 140,960 SH   SOLE   140,960 0 0
POWELL INDS INC COM 739128106 3,996 110,200 SH   SOLE 1 110,200 0 0
PRIMERICA INC COM 74164M108 12,922 107,190 SH   SOLE 1 107,190 0 0
PROGRESSIVE CORP OHIO COM 743315103 9,775 137,600 SH   SOLE   137,600 0 0
REGAL BELOIT CORP COM 758750103 3,488 42,300 SH   SOLE 1 42,300 0 0
RENAISSANCERE HOLDINGS LTD COM G7496G103 24,145 180,754 SH   SOLE 1 180,754 0 0
RENAISSANCERE HOLDINGS LTD COM G7496G103 10,767 80,600 SH Call SOLE   80,600 0 0
RTI INTL METALS INC NOTE 1.625%10/1 74973WAB3 733 719,000 PRN   SOLE 1 719,000 0 0
RUTHS HOSPITALITY GROUP INC COM 783332109 2,227 70,600 SH   SOLE 1 70,600 0 0
SAFETY INS GROUP INC COM 78648T100 1,546 17,250 SH   SOLE 1 17,250 0 0
SCHLUMBERGER LTD COM 806857108 2,882 47,300 SH   SOLE   47,300 0 0
SCIENCE APPLICATNS INTL CP N COM 808625107 6,359 78,900 SH   SOLE 1 78,900 0 0
SELECTIVE INS GROUP INC COM 816300107 9,528 150,050 SH   SOLE 1 150,050 0 0
SI FINL GROUP INC MD COM 78425V104 1,098 78,400 SH   SOLE 1 78,400 0 0
SUNCOR ENERGY INC NEW COM 867224107 9,200 237,800 SH   SOLE 1 237,800 0 0
SUNTRUST BKS INC COM 867914103 4,762 71,300 SH   SOLE   71,300 0 0
SYNAPTICS INC NOTE 0.500% 6/1 87157DAD1 1,145 1,200,000 PRN   SOLE 1 1,200,000 0 0
SYNOPSYS INC COM 871607107 661 6,700 SH   SOLE 1 6,700 0 0
TELEPHONE & DATA SYS INC COM NEW 879433829 870 28,575 SH   SOLE 1 28,575 0 0
TESLA INC COM 88160R101 5,295 20,000 SH Put SOLE   20,000 0 0
THE ONE GROUP HOSPITALITY IN COM 88338K103 432 122,450 SH   SOLE   122,450 0 0
TOOTSIE ROLL INDS INC COM 890516107 4,654 159,119 SH   SOLE 1 159,119 0 0
TORCHMARK CORP COM 891027104 15,101 174,200 SH   SOLE 1 174,200 0 0
UNITED FIRE GROUP INC COM 910340108 3,386 66,700 SH   SOLE 1 66,700 0 0
UNITED TECHNOLOGIES CORP COM 913017109 6,792 48,580 SH   SOLE   48,580 0 0
UNUM GROUP COM 91529Y106 2,930 75,000 SH Call SOLE   75,000 0 0
US BANCORP DEL COM NEW 902973304 10,430 197,500 SH   SOLE   197,500 0 0
VERINT SYS INC NOTE 1.500% 6/0 92343XAA8 1,308 1,270,000 PRN   SOLE 1 1,270,000 0 0
VERISIGN INC COM 92343E102 5,564 34,750 SH   SOLE 1 34,750 0 0
VOYA FINL INC COM 929089100 3,849 77,500 SH Call SOLE   77,500 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 590 8,100 SH   SOLE 1 8,100 0 0
WATERSTONE FINL INC MD COM 94188P101 2,967 173,000 SH   SOLE 1 173,000 0 0
WESTERN NEW ENG BANCORP INC COM 958892101 3,017 279,369 SH   SOLE 1 279,369 0 0
WHITE MTNS INS GROUP LTD COM G9618E107 5,670 6,058 SH   SOLE 1 6,058 0 0
XILINX INC COM 983919101 4,265 53,200 SH   SOLE 1 53,200 0 0