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 Common 017175100 12,074 21,000 SH   SOLE   21,000 0 0
ALPHABET INC Class A 02079K107 16,938 15,000 SH   SOLE   15,000 0 0
AMAZON COM INC Common 023135106 22,097 13,000 SH   SOLE   13,000 0 0
AMERICAN EXPRESS CO Common 025816109 14,700 150,000 SH   SOLE   150,000 0 0
ANALOG DEVICES INC Common 032654105 43,164 450,000 SH   SOLE   450,000 0 0
ASPEN INSURANCE HOLDINGS LTD Common G05384105 8,140 200,000 SH   SOLE   200,000 0 0
BANK NEW YORK MELLON CORP Common 064058100 21,572 400,000 SH   SOLE   400,000 0 0
BERKSHIRE HATHAWAY INC DEL Class A 084670108 2,820 10 SH   SOLE   10 0 0
BRADY CORP Class A 104674106 15,420 400,000 SH   SOLE   400,000 0 0
CAPITAL ONE FINL CORP Common 14040H105 27,570 300,000 SH   SOLE   300,000 0 0
CITIGROUP INC Common 172967226 18,738 280,000 SH   SOLE   280,000 0 0
COGENT COMMUNICATIONS HLDGS Common 19239V302 10,680 200,000 SH   SOLE   200,000 0 0
COHERENT INC Common 192479103 49,272 315,000 SH   SOLE   315,000 0 0
FREEPORT-MCMORAN INC Common 35671D857 2,589 150,000 SH   SOLE   150,000 0 0
GENERAL ELECTRIC CO Common 369604103 6,805 500,000 SH   SOLE   500,000 0 0
HERITAGE CRYSTAL CLEAN INC Common 42726M106 14,070 700,000 SH   SOLE   700,000 0 0
HESS CORP Common 42809H107 46,823 700,000 SH   SOLE   700,000 0 0
INTEL CORP Common 458140100 41,756 840,000 SH   SOLE   840,000 0 0
JOHNSON & JOHNSON Common 478160104 10,314 85,000 SH   SOLE   85,000 0 0
JPMORGAN CHASE & CO Common 46625H100 18,756 180,000 SH   SOLE   180,000 0 0
KEMPER CORP DEL Common 488401100 15,130 200,000 SH   SOLE   200,000 0 0
KENNEDY-WILSON HLDGS INC Common 489398107 5,288 250,000 SH   SOLE   250,000 0 0
KEYSIGHT TECHNOLOGIES INC Common 49338L103 17,414 295,000 SH   SOLE   295,000 0 0
KINSALE CAP GROUP INC Common 49714P108 5,486 100,000 SH   SOLE   100,000 0 0
LIBERTY GLOBAL PLC Class C G5480U120 5,588 210,000 SH   SOLE   210,000 0 0
LIBERTY LATIN AMERICA LTD LiLAC Class C G9001E128 3,876 200,000 SH   SOLE   200,000 0 0
MEDTRONIC PLC Common G5960L103 17,122 200,000 SH   SOLE   200,000 0 0
MERCK & CO INC Common 58933Y105 12,140 200,000 SH   SOLE   200,000 0 0
MICROSOFT CORP Common 594918104 9,861 100,000 SH   SOLE   100,000 0 0
MOTOROLA SOLUTIONS INC Common 620076307 34,911 300,000 SH   SOLE   300,000 0 0
PROGRESSIVE CORP OHIO Common 743315103 9,464 160,000 SH   SOLE   160,000 0 0
RAYONIER INC Common 754907103 27,083 700,000 SH   SOLE   700,000 0 0
RIBBON COMMUNICATIONS INC Common 762544104 9,876 1,387,100 SH   SOLE   1,387,100 0 0
ROPER TECHNOLOGIES INC Common 776696106 17,934 65,000 SH   SOLE   65,000 0 0
SCHWAB CHARLES CORP NEW Common 808513105 10,731 210,000 SH   SOLE   210,000 0 0
STAR GROUP L P Common 85512C105 4,450 454,108 SH   SOLE   454,108 0 0
TRI POINTE GROUP INC Common 87265H109 11,452 700,000 SH   SOLE   700,000 0 0
WELLS FARGO CO NEW Common 949746101 14,969 270,000 SH   SOLE   270,000 0 0
WYNN RESORTS LTD Common 983134107 5,020 30,000 SH   SOLE   30,000 0 0