The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||||||
| UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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| 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 | 8,419 | 17,961 | SH | SOLE | 17,961 | 0 | 0 | ||
| ALLSTATE CORP | COM | 020002101 | 12,194 | 187,979 | SH | SOLE | 187,979 | 0 | 0 | ||
| ASSURED GUARANTY LTD | COM | G0585R106 | 13,607 | 567,180 | SH | SOLE | 567,180 | 0 | 0 | ||
| AXIS CAPITAL HOLDINGS LTD | SHS | G0692U109 | 6,506 | 121,900 | SH | SOLE | 121,900 | 0 | 0 | ||
| AXIS CAPITAL HOLDINGS LTD | SHS | G0692U109 | 1,067 | 20,000 | SH | Call | SOLE | 20,000 | 0 | 0 | |
| EMC INS GROUP INC | COM | 268664109 | 5,111 | 203,865 | SH | SOLE | 203,865 | 0 | 0 | ||
| FEDERATED NATL HLDG CO | COM | 31422T101 | 3,431 | 141,786 | SH | SOLE | 141,786 | 0 | 0 | ||
| FIDELITY & GTY LIFE | COM | 315785105 | 4,019 | 170,100 | SH | SOLE | 170,100 | 0 | 0 | ||
| GALLAGHER ARTHUR J & CO | COM | 363576109 | 11,101 | 234,693 | SH | SOLE | 234,693 | 0 | 0 | ||
| GLOBAL INDEMNITY PLC | SHS | G39319101 | 7,651 | 272,464 | SH | SOLE | 272,464 | 0 | 0 | ||
| HARTFORD FINL SVCS GROUP INC | COM | 416515104 | 9,909 | 238,376 | SH | SOLE | 238,376 | 0 | 0 | ||
| MBIA INC | COM | 55262C100 | 4,900 | 815,300 | SH | SOLE | 815,300 | 0 | 0 | ||
| METLIFE INC | COM | 59156R108 | 10,614 | 189,570 | SH | SOLE | 189,570 | 0 | 0 | ||
| PARTNERRE LTD | COM | G6852T105 | 13,602 | 105,850 | SH | SOLE | 105,850 | 0 | 0 | ||
| PARTNERRE LTD | COM | G6852T105 | 3,148 | 24,500 | SH | Call | SOLE | 24,500 | 0 | 0 | |
| PROASSURANCE CORP | COM | 74267C106 | 10,228 | 221,329 | SH | SOLE | 221,329 | 0 | 0 | ||
| PRUDENTIAL FINL INC | COM | 744320102 | 12,962 | 148,100 | SH | SOLE | 148,100 | 0 | 0 | ||
| RADIAN GROUP INC | COM | 750236101 | 5,185 | 276,402 | SH | SOLE | 276,402 | 0 | 0 | ||
| REINSURANCE GROUP AMER INC | COM NEW | 759351604 | 9,572 | 94,299 | SH | SOLE | 94,299 | 0 | 0 | ||
| STATE AUTO FINL CORP | COM | 855707105 | 4,475 | 186,861 | SH | SOLE | 186,861 | 0 | 0 | ||
| SYMETRA FINL CORP | COM | 87151Q106 | 2,780 | 115,000 | SH | SOLE | 115,000 | 0 | 0 | ||
| UNIVERSAL INS HLDGS INC | COM | 91359V107 | 4,505 | 186,177 | SH | SOLE | 186,177 | 0 | 0 | ||
| VOYA FINL INC | COM | 929089100 | 13,044 | 280,700 | SH | SOLE | 280,700 | 0 | 0 | ||