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
ALLEGHANY CORP DEL Common 017175100 12,903 21,000 SH   SOLE   21,000 0 0
ALPHABET INC Class A 02079K107 12,446 12,000 SH   SOLE   12,000 0 0
AMAZON COM INC Common 023135106 18,815 13,000 SH   SOLE   13,000 0 0
AMERICAN EXPRESS CO Common 025816109 13,992 150,000 SH   SOLE   150,000 0 0
ANALOG DEVICES INC Common 032654105 41,009 450,000 SH   SOLE   450,000 0 0
ASPEN INSURANCE HOLDINGS LTD Common G05384105 8,970 200,000 SH   SOLE   200,000 0 0
BANK NEW YORK MELLON CORP Common 064058100 20,612 400,000 SH   SOLE   400,000 0 0
BERKSHIRE HATHAWAY INC DEL Class A 084670108 2,991 10 SH   SOLE   10 0 0
BRADY CORP Class A 104674106 14,860 400,000 SH   SOLE   400,000 0 0
CAPITAL ONE FINL CORP Common 14040H105 27,788 290,000 SH   SOLE   290,000 0 0
CITIGROUP INC Common 172967226 18,900 280,000 SH   SOLE   280,000 0 0
COHERENT INC Common 192479103 59,031 315,000 SH   SOLE   315,000 0 0
FREEPORT-MCMORAN INC Common 35671D857 2,636 150,000 SH   SOLE   150,000 0 0
GENERAL ELECTRIC CO Common 369604103 6,740 500,000 SH   SOLE   500,000 0 0
HERITAGE CRYSTAL CLEAN INC Common 42726M106 16,485 700,000 SH   SOLE   700,000 0 0
HESS CORP Common 42809H107 35,434 700,000 SH   SOLE   700,000 0 0
INTEL CORP Common 458140100 43,747 840,000 SH   SOLE   840,000 0 0
JOHNSON & JOHNSON Common 478160104 10,893 85,000 SH   SOLE   85,000 0 0
JPMORGAN CHASE & CO Common 46625H100 19,795 180,000 SH   SOLE   180,000 0 0
KENNEDY-WILSON HLDGS INC Common 489398107 4,350 250,000 SH   SOLE   250,000 0 0
KEYSIGHT TECHNOLOGIES INC Common 49338L103 15,455 295,000 SH   SOLE   295,000 0 0
KINSALE CAP GROUP INC Common 49714P108 5,133 100,000 SH   SOLE   100,000 0 0
LIBERTY GLOBAL PLC Class C G5480U120 6,390 210,000 SH   SOLE   210,000 0 0
LIBERTY LATIN AMERICA LTD LiLAC Class C G9001E128 3,818 200,000 SH   SOLE   200,000 0 0
MEDTRONIC PLC Common G5960L103 20,055 250,000 SH   SOLE   250,000 0 0
MERCK & CO INC Common 58933Y105 10,894 200,000 SH   SOLE   200,000 0 0
MICROSOFT CORP Common 594918104 9,127 100,000 SH   SOLE   100,000 0 0
MOTOROLA SOLUTIONS INC Common 620076307 31,590 300,000 SH   SOLE   300,000 0 0
MURPHY OIL CORP Common 626717102 1,576 61,000 SH   SOLE   61,000 0 0
PROGRESSIVE CORP OHIO Common 743315103 9,749 160,000 SH   SOLE   160,000 0 0
RAYONIER INC Common 754907103 24,626 700,000 SH   SOLE   700,000 0 0
RIBBON COMMUNICATIONS INC Common 762544104 7,074 1,387,100 SH   SOLE   1,387,100 0 0
ROPER TECHNOLOGIES INC Common 776696106 18,245 65,000 SH   SOLE   65,000 0 0
SCHWAB CHARLES CORP NEW Common 808513105 10,966 210,000 SH   SOLE   210,000 0 0
TIFFANY & CO NEW Common 886547108 7,813 80,000 SH   SOLE   80,000 0 0
TRI POINTE GROUP INC Common 87265H109 11,501 700,000 SH   SOLE   700,000 0 0
WELLS FARGO CO NEW Common 949746101 14,151 270,000 SH   SOLE   270,000 0 0
WYNN RESORTS LTD Common 983134107 5,471 30,000 SH   SOLE   30,000 0 0