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
AMERICAN INTL GROUP INC COM NEW 026874784 3,726 153,650 SH   SOLE   153,650 0 0
ARGO GROUP INTL HLDGS LTD COM G0464B107 4,466 120,516 SH   SOLE   120,516 0 0
ASSURED GUARANTY LTD COM G0585R106 1,646 63,830 SH   SOLE   63,830 0 0
BENEFYTT TECHNOLOGIES INC COM CL A 08182C106 6,366 284,327 SH   SOLE   284,327 0 0
EQUITABLE HLDGS INC COM 29452E101 3,916 271,000 SH   SOLE   271,000 0 0
FEDNAT HLDG CO COM 31431B109 1,643 143,145 SH   SOLE   143,145 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 2,114 60,000 SH   SOLE   60,000 0 0
MARKEL CORP COM 570535104 1,967 2,120 SH   SOLE   2,120 0 0
PROTECTIVE INS CORP CL A 74368L104 61 4,367 SH   SOLE   4,367 0 0
PROTECTIVE INS CORP CL B 74368L203 1,645 119,621 SH   SOLE   119,621 0 0
PRUDENTIAL FINL INC COM 744320102 5,214 100,000 SH   SOLE   100,000 0 0
VOYA FINANCIAL INC COM 929089100 1,659 40,901 SH   SOLE   40,901 0 0
WATFORD HOLDINGS LTD SHS G94787101 4,868 332,270 SH   SOLE   332,270 0 0