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 |
| Assured Guaranty Ltd | COM | G0585R106 | 18,096 | 713,280 | SH | SOLE | 713,280 | 0 | 0 | ||
| Atlas Financial Holdings Inc | SHS NEW | G06207115 | 6,842 | 397,348 | SH | SOLE | 397,348 | 0 | 0 | ||
| EMC Insurance Group Inc | COM | 268664109 | 6,455 | 232,879 | SH | SOLE | 232,879 | 0 | 0 | ||
| Federated National Holding Co | COM | 31422T101 | 9,898 | 519,876 | SH | SOLE | 519,876 | 0 | 0 | ||
| Global Indemnity PLC | SHS | G39319101 | 9,132 | 331,694 | SH | SOLE | 331,694 | 0 | 0 | ||
| Greenlight Capital RE Ltd | CLASS A | G4095J109 | 518 | 25,700 | SH | SOLE | 25,700 | 0 | 0 | ||
| Mbia Inc | COM | 55262C100 | 3,776 | 552,927 | SH | SOLE | 552,927 | 0 | 0 | ||
| MetLife, Inc | COM | 59156R108 | 9,303 | 233,561 | SH | SOLE | 233,561 | 0 | 0 | ||
| MetLife, Inc | COM | 59156R908 | 9,384 | 235,600 | SH | Call | SOLE | 235,600 | 0 | 0 | |
| MGIC Investment Corp | COM | 552848103 | 17,108 | 2,875,247 | SH | SOLE | 2,875,247 | 0 | 0 | ||
| Onebeacon Insurance Group LT | CLASS A | G67742109 | 466 | 33,746 | SH | SOLE | 33,746 | 0 | 0 | ||
| Prudential Financial Inc | COM | 744320102 | 7,148 | 100,200 | SH | SOLE | 100,200 | 0 | 0 | ||
| Prudential Financial Inc | COM | 744320902 | 9,317 | 130,600 | SH | Call | SOLE | 130,600 | 0 | 0 | |
| Radian Group Inc | COM | 750236101 | 17,603 | 1,689,385 | SH | SOLE | 1,689,385 | 0 | 0 | ||
| Safety Insurance Group, Inc | COM | 78648T100 | 17,853 | 289,918 | SH | SOLE | 289,918 | 0 | 0 | ||
| State Auto Financial | COM | 855707105 | 2,841 | 129,658 | SH | SOLE | 129,658 | 0 | 0 | ||
| Universal Insurance Holdings, Inc | COM | 91359V107 | 15,760 | 848,197 | SH | SOLE | 848,197 | 0 | 0 | ||
| Voya Financial Inc | COM | 929089100 | 17,325 | 699,716 | SH | SOLE | 699,716 | 0 | 0 | ||