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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ABBOTT LABS COM 002824100   7,508,429 74,150 SH   SOLE 1 74,150 0 0
ABRDN PLATINUM ETF TRUST PHYSCL PLATM SHS 003260106   6,983,303 75,955 SH   SOLE 1 75,955 0 0
AGNICO EAGLE MINES LTD COM 008474108   3,242,304 63,612 SH   SOLE 1 63,612 0 0
AKAMAI TECHNOLOGIES INC NOTE 0.375% 9/0 00971TAL5   826,567 900,000 PRN   SOLE 1 900,000 0 0
ALPHABET INC CAP STK CL C 02079K107   4,290,000 41,250 SH   SOLE 1 41,250 0 0
ALPHABET INC CAP STK CL A 02079K305   6,635,608 63,970 SH   SOLE 1 63,970 0 0
ASTRAZENECA PLC SPONSORED ADR 046353108   408,478 5,885 SH   SOLE 1 5,885 0 0
AXALTA COATING SYS LTD COM G0750C108   8,876,485 293,050 SH   SOLE 1 293,050 0 0
BANK AMERICA CORP COM 060505104   2,434,575 85,125 SH   SOLE 1 85,125 0 0
BANK AMERICA CORP COM 060505104   9,438,000 330,000 SH Call SOLE   330,000 0 0
BERKLEY W R CORP COM 084423102   9,122,024 146,515 SH   SOLE 1 146,515 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702   35,233,127 114,108 SH   SOLE 1 114,108 0 0
BIOMARIN PHARMACEUTICAL INC NOTE 0.599% 8/0 09061GAH4   1,025,979 1,000,000 PRN   SOLE 1 1,000,000 0 0
BROWN & BROWN INC COM 115236101   16,490,278 287,187 SH   SOLE 1 287,187 0 0
CAMBRIDGE BANCORP COM 132152109   753,092 11,620 SH   SOLE   11,620 0 0
CARRIER GLOBAL CORPORATION COM 14448C104   12,138,619 265,325 SH   SOLE 1 265,325 0 0
CBOE GLOBAL MKTS INC COM 12503M108   10,520,389 78,370 SH   SOLE 1 78,370 0 0
CHART INDS INC NOTE 1.000%11/1 16115QAE0   215,650 100,000 PRN   SOLE 1 100,000 0 0
CHURCH & DWIGHT CO INC COM 171340102   13,967,365 157,984 SH   SOLE 1 157,984 0 0
CITIGROUP INC COM NEW 172967424   4,512,459 96,235 SH   SOLE 1 96,235 0 0
COLGATE PALMOLIVE CO COM 194162103   10,496,201 139,670 SH   SOLE 1 139,670 0 0
CURTISS WRIGHT CORP COM 231561101   10,648,748 60,415 SH   SOLE 1 60,415 0 0
CUSTOMERS BANCORP INC COM 23204G100   481,520 26,000 SH Call SOLE   26,000 0 0
DARDEN RESTAURANTS INC COM 237194105   10,926,367 70,420 SH   SOLE 1 70,420 0 0
DENTSPLY SIRONA INC COM 24906P109   9,917,218 252,475 SH   SOLE 1 252,475 0 0
DEVON ENERGY CORP NEW COM 25179M103   2,298,959 45,425 SH   SOLE 1 45,425 0 0
EATON CORP PLC SHS G29183103   12,162,056 70,982 SH   SOLE 1 70,982 0 0
EBAY INC. COM 278642103   6,667,702 150,275 SH   SOLE 1 150,275 0 0
EVEREST RE GROUP LTD COM G3223R108   13,583,995 37,942 SH   SOLE 1 37,942 0 0
EVERTEC INC COM 30040P103   504,563 14,950 SH   SOLE   14,950 0 0
EXPEDIA GROUP INC COM NEW 30212P303   6,307,920 65,010 SH   SOLE 1 65,010 0 0
EXXON MOBIL CORP COM 30231G102   564,749 5,150 SH   SOLE   5,150 0 0
FARO TECHNOLOGIES INC COM 311642102   1,821,140 74,000 SH   SOLE 1 74,000 0 0
FEDERATED HERMES INC CL B 314211103   13,497,717 336,266 SH   SOLE 1 336,266 0 0
FIDELITY NATL INFORMATION SV COM 31620M106   8,149,065 149,992 SH   SOLE 1 149,992 0 0
FIRST AMERN FINL CORP COM 31847R102   331,455 5,955 SH   SOLE 1 5,955 0 0
FIRST BANCORP P R COM NEW 318672706   7,366,014 645,010 SH   SOLE 1 645,010 0 0
FORTUNE BRANDS INNOVATIONS I COM 34964C106   3,896,736 66,350 SH   SOLE 1 66,350 0 0
FOUR CORNERS PPTY TR INC COM 35086T109   442,062 16,458 SH   SOLE 1 16,458 0 0
GALLAGHER ARTHUR J & CO COM 363576109   19,006,457 99,349 SH   SOLE 1 99,349 0 0
GENERAL DYNAMICS CORP COM 369550108   5,513,554 24,160 SH   SOLE   24,160 0 0
GLOBE LIFE INC COM 37959E102   22,488,638 204,405 SH   SOLE 1 204,405 0 0
HENRY SCHEIN INC COM 806407102   3,489,912 42,800 SH   SOLE 1 42,800 0 0
HESS CORP COM 42809H107   7,479,195 56,515 SH   SOLE 1 56,515 0 0
HOME DEPOT INC COM 437076102   9,225,156 31,259 SH   SOLE 1 31,259 0 0
HOSTESS BRANDS INC CL A 44109J106   1,940,018 77,975 SH   SOLE 1 77,975 0 0
HOWARD HUGHES CORP COM 44267D107   11,428,080 142,851 SH   SOLE 1 142,851 0 0
INTEGRA LIFESCIENCES HLDGS C NOTE 0.500% 8/1 457985AM1   972,585 1,000,000 PRN   SOLE 1 1,000,000 0 0
JOHNSON & JOHNSON COM 478160104   6,321,520 40,784 SH   SOLE   40,784 0 0
KAMAN CORP NOTE 3.250% 5/0 483548AF0   943,000 1,000,000 PRN   SOLE 1 1,000,000 0 0
LEIDOS HOLDINGS INC COM 525327102   13,829,990 150,228 SH   SOLE 1 150,228 0 0
LIGAND PHARMACEUTICALS INC NOTE 0.750% 5/1 53220KAF5   396,113 400,000 PRN   SOLE 1 400,000 0 0
LITTELFUSE INC COM 537008104   14,614,926 54,515 SH   SOLE 1 54,515 0 0
LOUISIANA PAC CORP COM 546347105   242,319 4,470 SH   SOLE 1 4,470 0 0
MANCHESTER UTD PLC NEW ORD CL A G5784H106   540,460 24,400 SH   SOLE   24,400 0 0
MANCHESTER UTD PLC NEW ORD CL A G5784H106   540,460 24,400 SH Put SOLE   24,400 0 0
MARKEL CORP COM 570535104   8,688,943 6,802 SH   SOLE 1 6,802 0 0
MEDTRONIC PLC SHS G5960L103   13,719,912 170,180 SH   SOLE 1 170,180 0 0
MERCK & CO INC COM 58933Y105   17,015,697 159,937 SH   SOLE 1 159,937 0 0
MICROSOFT CORP COM 594918104   5,994,334 20,792 SH   SOLE 1 20,792 0 0
MONDELEZ INTL INC CL A 609207105   14,485,794 207,771 SH   SOLE 1 207,771 0 0
MOOG INC CL A 615394202   4,997,200 49,600 SH   SOLE 1 49,600 0 0
NEWMONT CORP COM 651639106   6,023,087 122,870 SH   SOLE 1 122,870 0 0
NOODLES & CO COM CL A 65540B105   2,811,826 579,758 SH   SOLE 1 579,758 0 0
NUVASIVE INC NOTE 0.375% 3/1 670704AJ4   529,800 600,000 PRN   SOLE 1 600,000 0 0
ORIGIN BANCORP INC COM 68621T102   2,975,483 92,550 SH   SOLE 1 92,550 0 0
OTIS WORLDWIDE CORP COM 68902V107   10,163,026 120,415 SH   SOLE 1 120,415 0 0
PALO ALTO NETWORKS INC NOTE 0.750% 7/0 697435AD7   448,100 200,000 PRN   SOLE 1 200,000 0 0
PAYCHEX INC COM 704326107   3,941,896 34,400 SH   SOLE 1 34,400 0 0
PAYPAL HLDGS INC COM 70450Y103   4,131,136 54,400 SH   SOLE 1 54,400 0 0
PENTAIR PLC SHS G7S00T104   13,119,993 237,380 SH   SOLE 1 237,380 0 0
PFIZER INC COM 717081103   11,253,864 275,830 SH   SOLE 1 275,830 0 0
PIONEER NAT RES CO COM 723787107   16,615,537 81,353 SH   SOLE 1 81,353 0 0
PJT PARTNERS INC COM CL A 69343T107   4,262,820 59,050 SH   SOLE   59,050 0 0
PNC FINL SVCS GROUP INC COM 693475105   11,439,000 90,000 SH Call SOLE   90,000 0 0
PNC FINL SVCS GROUP INC COM 693475105   9,318,972 73,320 SH   SOLE 1 73,320 0 0
PPG INDS INC COM 693506107   13,052,369 97,712 SH   SOLE 1 97,712 0 0
PRIMERICA INC COM 74164M108   14,414,766 83,690 SH   SOLE 1 83,690 0 0
PROCTER AND GAMBLE CO COM 742718109   6,320,812 42,510 SH   SOLE   42,510 0 0
PROGRESSIVE CORP COM 743315103   11,384,715 79,580 SH   SOLE   79,580 0 0
RAYTHEON TECHNOLOGIES CORP COM 75513E101   5,499,259 56,155 SH   SOLE 1 56,155 0 0
RENAISSANCERE HLDGS LTD COM G7496G103   9,411,372 46,977 SH   SOLE 1 46,977 0 0
SCHLUMBERGER LTD COM STK 806857108   10,509,855 214,050 SH   SOLE 1 214,050 0 0
SENSATA TECHNOLOGIES HLDG PL SHS G8060N102   12,716,335 254,225 SH   SOLE 1 254,225 0 0
SOUTHSTATE CORPORATION COM 840441109   5,383,479 75,547 SH   SOLE 1 75,547 0 0
STELLAR BANCORP INC COM 858927106   3,453,472 140,328 SH   SOLE 1 140,328 0 0
SUNCOR ENERGY INC NEW COM 867224107   3,722,895 119,900 SH   SOLE 1 119,900 0 0
TEXAS ROADHOUSE INC COM 882681109   6,305,301 58,350 SH   SOLE 1 58,350 0 0
THE CIGNA GROUP COM 125523100   9,705,796 37,983 SH   SOLE 1 37,983 0 0
TRIMBLE INC COM 896239100   4,011,441 76,525 SH   SOLE 1 76,525 0 0
US BANCORP DEL COM NEW 902973304   4,307,795 119,495 SH   SOLE   119,495 0 0
US BANCORP DEL COM NEW 902973304   7,931,000 220,000 SH Call SOLE   220,000 0 0
V2X INC COM 92242T101   4,523,314 113,880 SH   SOLE 1 113,880 0 0
VERINT SYSTEMS INC NOTE 0.250% 4/1 92343XAC4   972,813 1,100,000 PRN   SOLE 1 1,100,000 0 0
VOYA FINANCIAL INC COM 929089100   16,873,278 236,122 SH   SOLE 1 236,122 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108   266,093 7,695 SH   SOLE 1 7,695 0 0
WHITE MTNS INS GROUP LTD COM G9618E107   3,108,995 2,257 SH   SOLE 1 2,257 0 0
WILLIAM PENN BANCORPORATION COM 96927A105   738,716 65,200 SH   SOLE   65,200 0 0
YETI HLDGS INC COM 98585X104   494,000 12,350 SH   SOLE   12,350 0 0
ZEBRA TECHNOLOGIES CORPORATI CL A 989207105   7,479,678 23,521 SH   SOLE 1 23,521 0 0
ZILLOW GROUP INC NOTE 2.750% 5/1 98954MAH4   715,400 700,000 PRN   SOLE 1 700,000 0 0