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
ALLIANCEBERNSTEIN HOLDING LP UNIT LTD PARTN 01881G106 6,961 243,830 SH   SOLE 1,2 243,830 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 24,209 456,593 SH   SOLE 1,2,3,4 456,593 0 0
ARES CAP CORP COM 04010L103 15,923 967,983 SH   SOLE 1,2,3,4 967,983 0 0
ASSURED GUARANTY LTD COM G0585R106 36,978 1,034,933 SH   SOLE 1,2,3,4 1,034,933 0 0
AXA EQUITABLE HLDGS INC COM 054561105 17,970 871,913 SH   SOLE 1,2,3,4 871,913 0 0
AXIS CAPITAL HOLDINGS LTD SHS G0692U109 10,547 189,622 SH   SOLE 1,2,3,4 189,622 0 0
BGC PARTNERS INC CL A 05541T101 15,246 1,346,833 SH   SOLE 1,2,3,4 1,346,833 0 0
BLACKROCK INC COM 09247X101 6,991 14,009 SH   SOLE 1,2,3,4 14,009 0 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 9,194 285,784 SH   SOLE 1,2 285,784 0 0
BRIGHTSPHERE INVESTMNT GRP P SHS G1644T109 26,045 1,826,427 SH   SOLE 1,2,3,4 1,826,427 0 0
CENTURY CMNTYS INC COM 156504300 17,543 556,046 SH   SOLE 1,2,3,4 556,046 0 0
CME GROUP INC COM CL A 12572Q105 6,828 41,657 SH   SOLE 1,2,3,4 41,657 0 0
CORECIVIC INC COM 21871N101 26,082 1,091,763 SH   SOLE 1,2,3,4 1,091,763 0 0
COWEN INC CL A NEW 223622606 13,678 987,617 SH   SOLE 1,2,3 987,617 0 0
CURO GROUP HLDGS CORP COM 23131L107 24,921 998,841 SH   SOLE 1,2,3,4 998,841 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 10,541 172,359 SH   SOLE 1,2,3,4 172,359 0 0
EMPLOYERS HOLDINGS INC COM 292218104 15,301 380,625 SH   SOLE 1,2,3,4 380,625 0 0
ENVESTNET INC COM 29404K106 10,632 193,482 SH   SOLE 1,2,3,4 193,482 0 0
GREENSKY INC CL A 39572G100 18,278 864,225 SH   SOLE 1,2,3,4 864,225 0 0
GROUP 1 AUTOMOTIVE INC COM 398905109 24,211 384,304 SH   SOLE 1,2,3,4 384,304 0 0
INNOVATIVE INDL PPTYS INC COM 45781V101 7,259 198,217 SH   SOLE 1,2,3 198,217 0 0
INVESTMENT TECHNOLOGY GRP NE COM 46145F105 29,432 1,406,868 SH   SOLE 1,2,3,4 1,406,868 0 0
JAMES RIV GROUP LTD COM G5005R107 12,759 324,739 SH   SOLE 1,2,3,4 324,739 0 0
LGI HOMES INC COM 50187T106 7,402 128,224 SH   SOLE 1,2,3,4 128,224 0 0
META FINL GROUP INC COM 59100U108 14,818 152,132 SH   SOLE 1,2,3,4 152,132 0 0
ONEMAIN HLDGS INC COM 68268W103 14,300 429,562 SH   SOLE 1,2,3,4 429,562 0 0
PENSKE AUTOMOTIVE GRP INC COM 70959W103 13,932 297,384 SH   SOLE 1,2,3,4 297,384 0 0
PERFORMANT FINL CORP COM 71377E105 4,515 2,099,957 SH   SOLE 1,2,3 2,099,957 0 0
POPULAR INC COM NEW 733174700 20,537 454,248 SH   SOLE 1,2,3,4 454,248 0 0
PROGRESSIVE CORP OHIO COM 743315103 10,417 176,113 SH   SOLE 1,2,3,4 176,113 0 0
RENAISSANCERE HOLDINGS LTD COM G7496G103 10,586 87,984 SH   SOLE 1,2,3,4 87,984 0 0
SANTANDER CONSUMER USA HDG I COM 80283M101 21,759 1,139,805 SH   SOLE 1,2,3,4 1,139,805 0 0
CARLYLE GROUP L P COM UTS LTD PTN 14309L102 12,447 584,372 SH   SOLE 1,2 584,372 0 0
THOMSON REUTERS CORP COM 884903105 14,373 356,463 SH   SOLE 1,2,3,4 356,463 0 0
TRIANGLE CAP CORP COM 895848109 7,741 673,091 SH   SOLE 1,2,3 673,091 0 0
TRITON INTL LTD CL A G9078F107 21,295 694,564 SH   SOLE 1,2,3,4 694,564 0 0
UNITED INS HLDGS CORP COM 910710102 12,469 636,806 SH   SOLE 1,2,3 636,806 0 0
VIRTUS INVT PARTNERS INC COM 92828Q109 15,344 119,918 SH   SOLE 1,2,3,4 119,918 0 0
VOYA FINL INC COM 929089100 17,208 366,128 SH   SOLE 1,2,3,4 366,128 0 0
WISDOMTREE INVTS INC COM 97717P104 10,018 1,103,359 SH   SOLE 1,2,3,4 1,103,359 0 0