The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||
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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 |
| ABBOTT LABS | COM | 002824100 | 711 | 13,318 | SH | DFND | 1 | 13,318 | 0 | 0 | |
| ALLSTATE CORP | COM | 020002101 | 1,714 | 18,653 | SH | DFND | 1 | 18,653 | 0 | 0 | |
| ALPHABET INC | CAP STK CL C | 02079K107 | 633 | 660 | SH | DFND | 1 | 660 | 0 | 0 | |
| AMERICAN FINL GROUP INC OHIO | COM | 025932104 | 2,930 | 28,320 | SH | DFND | 1 | 28,320 | 0 | 0 | |
| ARGO GROUP INTL HLDGS LTD | COM | G0464B107 | 1,180 | 19,180 | SH | DFND | 1 | 19,180 | 0 | 0 | |
| ASPEN INSURANCE HOLDINGS LTD | SHS | G05384105 | 1,273 | 31,507 | SH | DFND | 1 | 31,507 | 0 | 0 | |
| AT&T INC | COM | 00206R102 | 473 | 12,067 | SH | DFND | 1 | 12,067 | 0 | 0 | |
| AXIS CAPITAL HOLDINGS LTD | SHS | G0692U109 | 1,963 | 34,250 | SH | DFND | 1 | 34,250 | 0 | 0 | |
| BANCO MACRO SA | SPON ADR B | 05961W105 | 2,934 | 25,000 | SH | DFND | 1 | 25,000 | 0 | 0 | |
| BLACKROCK CORPOR HI YLD FD I | COM | 09255P107 | 2,505 | 221,638 | SH | DFND | 1 | 221,638 | 0 | 0 | |
| BLACKROCK CR ALLCTN INC TR | COM | 092508100 | 1,904 | 140,284 | SH | DFND | 1 | 140,284 | 0 | 0 | |
| BLACKSTONE GROUP L P | COM UNIT LTD | 09253U108 | 627 | 18,801 | SH | DFND | 1 | 18,801 | 0 | 0 | |
| CISCO SYS INC | COM | 17275R102 | 563 | 16,734 | SH | DFND | 1 | 16,734 | 0 | 0 | |
| CONIFER HLDGS INC | COM | 20731J102 | 790 | 131,722 | SH | DFND | 1 | 131,722 | 0 | 0 | |
| CVS HEALTH CORP | COM | 126650100 | 502 | 6,175 | SH | DFND | 1 | 6,175 | 0 | 0 | |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 | 503 | 10,428 | SH | DFND | 1 | 10,428 | 0 | 0 | |
| ENTERPRISE PRODS PARTNERS L | COM | 293792107 | 492 | 18,871 | SH | DFND | 1 | 18,871 | 0 | 0 | |
| ESSENT GROUP LTD | COM | G3198U102 | 2,333 | 57,605 | SH | DFND | 1 | 57,605 | 0 | 0 | |
| GENERAL ELECTRIC CO | COM | 369604103 | 391 | 16,183 | SH | DFND | 1 | 16,183 | 0 | 0 | |
| GRUPO FINANCIERO GALICIA S A | SP ADR 10 SH B | 399909100 | 2,680 | 52,000 | SH | DFND | 1 | 52,000 | 0 | 0 | |
| HARTFORD FINL SVCS GROUP INC | COM | 416515104 | 6,671 | 120,345 | SH | DFND | 1 | 120,345 | 0 | 0 | |
| ILLINOIS TOOL WKS INC | COM | 452308109 | 618 | 4,174 | SH | DFND | 1 | 4,174 | 0 | 0 | |
| JOHNSON & JOHNSON | COM | 478160104 | 577 | 4,441 | SH | DFND | 1 | 4,441 | 0 | 0 | |
| JPMORGAN CHASE & CO | COM | 46625H100 | 569 | 5,953 | SH | DFND | 1 | 5,953 | 0 | 0 | |
| KIMBERLY CLARK CORP | COM | 494368103 | 527 | 4,480 | SH | DFND | 1 | 4,480 | 0 | 0 | |
| MICROSOFT CORP | COM | 594918104 | 614 | 8,242 | SH | DFND | 1 | 8,242 | 0 | 0 | |
| NAVIGATORS GROUP INC | COM | 638904102 | 2,167 | 37,130 | SH | DFND | 1 | 37,130 | 0 | 0 | |
| NORFOLK SOUTHERN CORP | COM | 655844108 | 622 | 4,702 | SH | DFND | 1 | 4,702 | 0 | 0 | |
| NUVEEN MTG OPPORTUNITY TERM | COM | 670735109 | 2,799 | 110,390 | SH | DFND | 1 | 110,390 | 0 | 0 | |
| OLD REP INTL CORP | COM | 680223104 | 3,355 | 170,403 | SH | DFND | 1 | 170,403 | 0 | 0 | |
| PROCTER AND GAMBLE CO | COM | 742718109 | 553 | 6,077 | SH | DFND | 1 | 6,077 | 0 | 0 | |
| PROGRESSIVE CORP OHIO | COM | 743315103 | 3,298 | 68,120 | SH | DFND | 1 | 68,120 | 0 | 0 | |
| QUALCOMM INC | COM | 747525103 | 405 | 7,814 | SH | DFND | 1 | 7,814 | 0 | 0 | |
| RADIAN GROUP INC | COM | 750236101 | 2,953 | 158,000 | SH | DFND | 1 | 158,000 | 0 | 0 | |
| ROSS STORES INC | COM | 778296103 | 728 | 11,275 | SH | DFND | 1 | 11,275 | 0 | 0 | |
| ROYAL DUTCH SHELL PLC | SPON ADR B | 780259107 | 669 | 10,700 | SH | DFND | 1 | 10,700 | 0 | 0 | |
| SOUTHWEST AIRLS CO | COM | 844741108 | 575 | 10,273 | SH | DFND | 1 | 10,273 | 0 | 0 | |
| SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 7,914 | 31,500 | SH | Put | DFND | 1 | 31,500 | 0 | 0 |
| SPECTRA ENERGY PARTNERS LP | COM | 84756N109 | 495 | 11,161 | SH | DFND | 1 | 11,161 | 0 | 0 | |
| STARBUCKS CORP | COM | 855244109 | 473 | 8,800 | SH | DFND | 1 | 8,800 | 0 | 0 | |
| THIRD PT REINS LTD | COM | G8827U100 | 5,460 | 350,000 | SH | DFND | 1 | 350,000 | 0 | 0 | |
| TRAVELERS COMPANIES INC | COM | 89417E109 | 518 | 4,227 | SH | DFND | 1 | 4,227 | 0 | 0 | |
| UBS GROUP AG | SHS | H42097107 | 1,887 | 110,000 | SH | DFND | 1 | 110,000 | 0 | 0 | |
| UNION PAC CORP | COM | 907818108 | 578 | 4,985 | SH | DFND | 1 | 4,985 | 0 | 0 | |
| WISDOMTREE TR | JP SMALLCP DIV | 97717W836 | 4,149 | 55,300 | SH | DFND | 1 | 55,300 | 0 | 0 | |
| WISDOMTREE TR | JAPN HEDGE EQT | 97717W851 | 5,744 | 105,000 | SH | DFND | 1 | 105,000 | 0 | 0 | |
| WISDOMTREE TR | EUROPE HEDGED EQ | 97717X701 | 4,956 | 76,600 | SH | DFND | 1 | 76,600 | 0 | 0 | |
| XL GROUP LTD | COM | G98294104 | 3,043 | 77,126 | SH | DFND | 1 | 77,126 | 0 | 0 | |