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
CIGNA CORP NEW COM 125523100 21,549 127,200 SH Call SOLE NONE 127,200 0 0
CIGNA CORP NEW COM 125523100 80,402 474,600 SH Call SOLE NONE 474,600 0 0
CIGNA CORP NEW COM 125523100 110,235 650,700 SH Call SOLE NONE 650,700 0 0
CIGNA CORP NEW COM 125523100 22,379 132,100 SH Call SOLE NONE 132,100 0 0
CIGNA CORP NEW COM 125523100 3,490 20,600 SH Call SOLE NONE 20,600 0 0
CIGNA CORP NEW COM 125523100 6,658 39,300 SH Call SOLE NONE 39,300 0 0
CITIGROUP INC COM NEW 172967424 1,694 39,300 SH Call SOLE NONE 39,300 0 0
CITIGROUP INC COM NEW 172967424 66,247 1,536,700 SH Call SOLE NONE 1,536,700 0 0
CIGNA CORP NEW COM 125523100 71,419 421,574 SH   SOLE NONE 421,574 0 0
COLLIERS INTL GROUP INC SUB VTG SHS 194693107 131,568 1,972,823 SH   SOLE NONE 1,972,823 0 0
CREDIT ACCEP CORP MICH COM 225310101 120,535 355,938 SH   SOLE NONE 355,938 0 0
ENCORE CAP GROUP INC COM 292554102 49,684 1,287,486 SH   SOLE NONE 1,287,486 0 0
CHARTER COMMUNICATIONS INC N CL A 16119P108 149,001 238,658 SH   SOLE NONE 238,658 0 0
HCA HEALTHCARE INC COM 40412C101 41,738 334,787 SH   SOLE NONE 334,787 0 0
SERITAGE GROWTH PPTYS CL A 81752R100 13,241 984,433 SH   SOLE NONE 984,433 0 0
AON PLC SHS CL A G0403H108 119,247 578,029 SH   SOLE NONE 578,029 0 0
HUMANA INC COM 444859102 114,119 275,722 SH   SOLE NONE 275,722 0 0
ALPHABET INC CAP STK CL C 02079K107 62,449 42,494 SH   SOLE NONE 42,494 0 0
BOOKING HOLDINGS INC COM 09857L108 38,862 22,717 SH   SOLE NONE 22,717 0 0
PROGRESSIVE CORP OHIO COM 743315103 66,764 705,230 SH   SOLE NONE 705,230 0 0
GFL ENVIRONMENTAL INC SUB VTG SHS 36168Q104 15,347 721,863 SH   SOLE NONE 721,863 0 0
BERKLEY W R CORP COM 084423102 73,096 1,195,354 SH   SOLE NONE 1,195,354 0 0