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
AFLAC INC COM 001055102 5,896 112,687 SH   SOLE   112,687 0 0
ALLSTATE CORP COM 020002101 12,579 115,745 SH   SOLE   115,745 0 0
AMERICAN EXPRESS CO COM 025816109 14,270 120,650 SH   SOLE   120,650 0 0
AMERICAN FINL GROUP INC OHIO COM 025932104 6,458 59,884 SH   SOLE   59,884 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 1,493 26,800 SH   SOLE   26,800 0 0
AMERIPRISE FINL INC COM 03076C106 6,379 43,367 SH   SOLE   43,367 0 0
AON PLC SHS CL A G0408V102 14,403 74,407 SH   SOLE   74,407 0 0
ATHENE HLDG LTD CL A G0684D107 24,768 588,872 SH   SOLE   588,872 0 0
AUTOMATIC DATA PROCESSING IN COM 053015103 10,410 64,492 SH   SOLE   64,492 0 0
BANK NEW YORK MELLON CORP COM 064058100 3,184 70,417 SH   SOLE   70,417 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 8,387 40,318 SH   SOLE   40,318 0 0
BLACKROCK INC COM 09247X101 27,678 62,108 SH   SOLE   62,108 0 0
BROWN & BROWN INC COM 115236101 3,759 104,231 SH   SOLE   104,231 0 0
CITIGROUP INC COM NEW 172967424 25,630 371,013 SH   SOLE   371,013 0 0
CORELOGIC INC COM 21871D103 7,413 160,212 SH   SOLE   160,212 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 6,977 159,697 SH   SOLE   159,697 0 0
EVEREST RE GROUP LTD COM G3223R108 9,993 37,555 SH   SOLE   37,555 0 0
FAIR ISAAC CORP COM 303250104 1,487 4,900 SH   SOLE   4,900 0 0
FIDELITY NATL INFORMATION SV COM 31620M106 9,461 71,261 SH   SOLE   71,261 0 0
FIRST AMERN FINL CORP COM 31847R102 6,884 116,657 SH   SOLE   116,657 0 0
GALLAGHER ARTHUR J & CO COM 363576109 12,532 139,910 SH   SOLE   139,910 0 0
GLOBAL PMTS INC COM 37940X102 6,662 41,900 SH   SOLE   41,900 0 0
GLOBE LIFE INC COM 37959E102 4,374 45,672 SH   SOLE   45,672 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 7,133 34,419 SH   SOLE   34,419 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 24,436 403,173 SH   SOLE   403,173 0 0
IHS MARKIT LTD SHS G47567105 5,503 82,286 SH   SOLE   82,286 0 0
INSPERITY INC COM 45778Q107 5,161 52,336 SH   SOLE   52,336 0 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 38,363 415,770 SH   SOLE   415,770 0 0
JEFFERIES FINL GROUP INC COM 47233W109 16,258 883,606 SH   SOLE   883,606 0 0
KEMPER CORP DEL COM 488401100 2,146 27,524 SH   SOLE   27,524 0 0
KKR & CO INC CL A 48251W104 12,062 449,233 SH   SOLE   449,233 0 0
LEGG MASON INC COM 524901105 3,293 86,237 SH   SOLE   86,237 0 0
LENNAR CORP CL A 526057104 2,540 45,482 SH   SOLE   45,482 0 0
LINCOLN NATL CORP IND COM 534187109 18,942 314,030 SH   SOLE   314,030 0 0
MARKEL CORP COM 570535104 15,728 13,307 SH   SOLE   13,307 0 0
MASTERCARD INC CL A 57636Q104 8,392 30,900 SH   SOLE   30,900 0 0
MGIC INVT CORP WIS COM 552848103 4,129 328,258 SH   SOLE   328,258 0 0
MORGAN STANLEY COM NEW 617446448 18,519 434,003 SH   SOLE   434,003 0 0
NCR CORP NEW COM 62886E108 4,945 156,676 SH   SOLE   156,676 0 0
PAYPAL HLDGS INC COM 70450Y103 4,335 41,845 SH   SOLE   41,845 0 0
PRIMERICA INC COM 74164M108 3,900 30,651 SH   SOLE   30,651 0 0
PRUDENTIAL FINL INC COM 744320102 4,332 48,159 SH   SOLE   48,159 0 0
RAYMOND JAMES FINANCIAL INC COM 754730109 19,838 240,577 SH   SOLE   240,577 0 0
REALPAGE INC COM 75606N109 3,702 58,891 SH   SOLE   58,891 0 0
S&P GLOBAL INC COM 78409V104 1,004 4,100 SH   SOLE   4,100 0 0
SPECTRUM BRANDS HLDGS INC NE COM 84790A105 3 53 SH   SOLE   53 0 0
STATE STR CORP COM 857477103 12,041 203,424 SH   SOLE   203,424 0 0
TD AMERITRADE HLDG CORP COM 87236Y108 11,672 249,933 SH   SOLE   249,933 0 0
TRADEWEB MKTS INC CL A 892672106 3,969 107,317 SH   SOLE   107,317 0 0
TRAVELERS COMPANIES INC COM 89417E109 7,441 50,047 SH   SOLE   50,047 0 0
VISA INC COM CL A 92826C839 22,943 133,384 SH   SOLE   133,384 0 0
WEX INC COM 96208T104 14,963 74,048 SH   SOLE   74,048 0 0
WILLIS TOWERS WATSON PUB LTD SHS G96629103 26,564 137,661 SH   SOLE   137,661 0 0