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
ACI WORLDWIDE INC COM 004498101 5,695 165,850 SH   SOLE   165,850 0 0
AMERICAN FINL GROUP INC OHIO COM 025932104 2,203 21,496 SH   SOLE   21,496 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 4,615 86,613 SH   SOLE   86,613 0 0
ASSURANT INC COM 04621X108 6,529 61,374 SH   SOLE   61,374 0 0
GALLAGHER ARTHUR J & CO COM 363576109 13,866 158,311 SH   SOLE   158,311 0 0
ALLSTATE CORP COM 020002101 27,669 272,087 SH   SOLE   272,087 0 0
ATHENE HLDG LTD CL A G0684D107 27,839 646,517 SH   SOLE   646,517 0 0
BLACKROCK INC COM 09247X101 11,450 24,399 SH   SOLE   24,399 0 0
BROWN & BROWN INC COM 115236101 5,607 167,362 SH   SOLE   167,362 0 0
CORELOGIC INC COM 21871D103 9,676 231,323 SH   SOLE   231,323 0 0
DXC TECHNOLOGY CO COM 23355L106 8,824 159,993 SH   SOLE   159,993 0 0
D R HORTON INC COM 23331A109 3,236 75,024 SH   SOLE   75,024 0 0
AXA EQUITABLE HLDGS INC COM 054561105 1,787 85,499 SH   SOLE   85,499 0 0
ESSENT GROUP LTD COM G3198U102 1,273 27,100 SH   SOLE   27,100 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 21,289 477,334 SH   SOLE   477,334 0 0
EVERCORE INC CLASS A 29977A105 1,603 18,100 SH   SOLE   18,100 0 0
FIRST DATA CORP NEW COM CL A 32008D106 21,768 804,125 SH   SOLE   804,125 0 0
FAIR ISAAC CORP COM 303250104 785 2,500 SH   SOLE   2,500 0 0
GREEN DOT CORP CL A 39304D102 1,271 26,000 SH   SOLE   26,000 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 43,524 781,128 SH   SOLE   781,128 0 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 33,521 390,055 SH   SOLE   390,055 0 0
IHS MARKIT LTD SHS G47567105 32,780 514,434 SH   SOLE   514,434 0 0
JEFFERIES FINL GROUP INC COM 47233W109 21,648 1,125,760 SH   SOLE   1,125,760 0 0
JANUS HENDERSON GROUP PLC ORD SHS G4474Y214 2,179 101,820 SH   SOLE   101,820 0 0
LENNAR CORP CL A 526057104 4,024 83,042 SH   SOLE   83,042 0 0
LEGG MASON INC COM 524901105 3,579 93,487 SH   SOLE   93,487 0 0
LINCOLN NATL CORP IND COM 534187109 23,163 359,398 SH   SOLE   359,398 0 0
MARKEL CORP COM 570535104 13,166 12,083 SH   SOLE   12,083 0 0
MORGAN STANLEY COM NEW 617446448 7,503 171,273 SH   SOLE   171,273 0 0
MGIC INVT CORP WIS COM 552848103 1,267 96,400 SH   SOLE   96,400 0 0
NCR CORP NEW COM 62886E108 3,216 103,402 SH   SOLE   103,402 0 0
PAYCHEX INC COM 704326107 4,361 53,000 SH   SOLE   53,000 0 0
PRIMERICA INC COM 74164M108 10,262 85,554 SH   SOLE   85,554 0 0
PAYPAL HLDGS INC COM 70450Y103 5,752 50,249 SH   SOLE   50,249 0 0
RADIAN GROUP INC COM 750236101 686 30,000 SH   SOLE   30,000 0 0
EVEREST RE GROUP LTD COM G3223R108 13,273 53,698 SH   SOLE   53,698 0 0
RAYMOND JAMES FINANCIAL INC COM 754730109 6,554 77,521 SH   SOLE   77,521 0 0
REALPAGE INC COM 75606N109 4,928 83,733 SH   SOLE   83,733 0 0
S&P GLOBAL INC COM 78409V104 12,926 56,744 SH   SOLE   56,744 0 0
SS&C TECHNOLOGIES HLDGS INC COM 78467J100 12,905 224,013 SH   SOLE   224,013 0 0
TORCHMARK CORP COM 891027104 2,042 22,827 SH   SOLE   22,827 0 0
TRINET GROUP INC COM 896288107 3,642 53,716 SH   SOLE   53,716 0 0
TOLL BROTHERS INC COM 889478103 5,648 154,239 SH   SOLE   154,239 0 0
PRICE T ROWE GROUP INC COM 74144T108 2,918 26,601 SH   SOLE   26,601 0 0
TRANSUNION COM 89400J107 4,517 61,442 SH   SOLE   61,442 0 0
TRADEWEB MKTS INC CL A 892672106 10,275 234,538 SH   SOLE   234,538 0 0
VIRTU FINL INC CL A 928254101 8,190 376,024 SH   SOLE   376,024 0 0
VOYA FINL INC COM 929089100 8,655 156,510 SH   SOLE   156,510 0 0
WEX INC COM 96208T104 13,409 64,436 SH   SOLE   64,436 0 0
WILLIS TOWERS WATSON PUB LTD SHS G96629103 38,151 199,181 SH   SOLE   199,181 0 0
WORLDPAY INC CL A 981558109 21,407 174,683 SH   SOLE   174,683 0 0