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
ALLSTATE CORP COM 020002101 15,134 160,757 SH   SOLE   160,757 0 0
AMERICAN FINL GROUP INC OHIO COM 025932104 4,937 73,709 SH   SOLE   73,709 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 1,126 40,897 SH   SOLE   40,897 0 0
AON PLC SHS CL A G0403H108 27,272 132,195 SH   SOLE   132,195 0 0
ASSURANT INC COM 04621X108 9,276 76,464 SH   SOLE   76,464 0 0
AUTOMATIC DATA PROCESSING IN COM 053015103 23,635 169,437 SH   SOLE   169,437 0 0
BANK NEW YORK MELLON CORP COM 064058100 33,970 989,221 SH   SOLE   989,221 0 0
BLACKROCK INC COM 09247X101 4,004 7,105 SH   SOLE   7,105 0 0
BLACKSTONE GROUP INC COM CL A 09260D107 8,030 153,840 SH   SOLE   153,840 0 0
CHUBB LIMITED COM H1467J104 40,470 348,520 SH   SOLE   348,520 0 0
CITIGROUP INC COM NEW 172967424 19,876 461,056 SH   SOLE   461,056 0 0
CITIZENS FINL GROUP INC COM 174610105 4,099 162,135 SH   SOLE   162,135 0 0
CME GROUP INC COM 12572Q105 4,988 29,811 SH   SOLE   29,811 0 0
EATON VANCE CORP COM NON VTG 278265103 1,240 32,511 SH   SOLE   32,511 0 0
EHEALTH INC COM 28238P109 1,715 21,711 SH   SOLE   21,711 0 0
EVERCORE INC CLASS A 29977A105 3,872 59,146 SH   SOLE   59,146 0 0
EVEREST RE GROUP LTD COM G3223R108 6,959 35,230 SH   SOLE   35,230 0 0
FAIR ISAAC CORP COM 303250104 298 700 SH   SOLE   700 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 467 14,900 SH   SOLE   14,900 0 0
FIRST REP BK SAN FRANCISCO C COM 33616C100 9,631 88,310 SH   SOLE   88,310 0 0
FISERV INC COM 337738108 24,869 241,334 SH   SOLE   241,334 0 0
GALLAGHER ARTHUR J & CO COM 363576109 14,668 138,931 SH   SOLE   138,931 0 0
GLOBAL PMTS INC COM 37940X102 16,850 94,889 SH   SOLE   94,889 0 0
GOHEALTH INC COM CL A 38046W105 1,488 114,216 SH   SOLE   114,216 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 28,390 141,263 SH   SOLE   141,263 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 21,225 575,833 SH   SOLE   575,833 0 0
HENRY JACK & ASSOC INC COM 426281101 5,933 36,488 SH   SOLE   36,488 0 0
IHS MARKIT LTD SHS G47567105 21,569 274,729 SH   SOLE   274,729 0 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 30,110 300,951 SH   SOLE   300,951 0 0
JPMORGAN CHASE & CO COM 46625H100 8,001 83,110 SH   SOLE   83,110 0 0
LENNAR CORP CL A 526057104 2,416 29,582 SH   SOLE   29,582 0 0
LINCOLN NATL CORP IND COM 534187109 1,701 54,300 SH   SOLE   54,300 0 0
MARKEL CORP COM 570535104 3,342 3,432 SH   SOLE   3,432 0 0
MARKETAXESS HLDGS INC COM 57060D108 209 435 SH   SOLE   435 0 0
MGIC INVT CORP WIS COM 552848103 1,279 144,355 SH   SOLE   144,355 0 0
MOODYS CORP COM 615369105 9,642 33,265 SH   SOLE   33,265 0 0
MORGAN STANLEY COM NEW 617446448 11,698 241,946 SH   SOLE   241,946 0 0
OLD REP INTL CORP COM 680223104 3,202 217,205 SH   SOLE   217,205 0 0
PAYPAL HLDGS INC COM 70450Y103 5,015 25,451 SH   SOLE   25,451 0 0
PRICE T ROWE GROUP INC COM 74144T108 6,285 49,021 SH   SOLE   49,021 0 0
PRIMERICA INC COM 74164M108 487 4,300 SH   SOLE   4,300 0 0
PRINCIPAL FINANCIAL GROUP IN COM 74251V102 11,906 295,654 SH   SOLE   295,654 0 0
PULTE GROUP INC COM 745867101 4,556 98,418 SH   SOLE   98,418 0 0
RENAISSANCERE HLDGS LTD COM G7496G103 2,275 13,400 SH   SOLE   13,400 0 0
STATE STR CORP COM 857477103 27,923 470,637 SH   SOLE   470,637 0 0
THOMSON REUTERS CORP. COM NEW 884903709 2,917 36,566 SH   SOLE   36,566 0 0
TOLL BROTHERS INC COM 889478103 5,912 121,503 SH   SOLE   121,503 0 0
US BANCORP DEL COM NEW 902973304 19,512 544,263 SH   SOLE   544,263 0 0
VIRTU FINL INC CL A 928254101 4,687 203,695 SH   SOLE   203,695 0 0
VISA INC COM CL A 92826C839 29,688 148,460 SH   SOLE   148,460 0 0
VOYA FINANCIAL INC COM 929089100 6,885 143,638 SH   SOLE   143,638 0 0
WELLS FARGO CO NEW COM 949746101 15,596 663,398 SH   SOLE   663,398 0 0
WILLIS TOWERS WATSON PLC LTD SHS G96629103 4,977 23,833 SH   SOLE   23,833 0 0