| 1 | 
            058334 | 
            Berkshire Hathaway Inc. | 
            327,223,000  | 
            225,682,000  | 
            45.0% | 
        
        
            | 2 | 
            058106 | 
            UnitedHealth Group Incorporated | 
            242,155,000  | 
            226,247,000  | 
            7.0% | 
        
        
            | 3 | 
            058180 | 
            Anthem, Inc. | 
            104,213,000  | 
            92,105,000  | 
            13.1% | 
        
        
            | 4 | 
            051149 | 
            Centene Corporation | 
            75,082,000  | 
            60,369,000  | 
            24.4% | 
        
        
            | 5 | 
            058175 | 
            MetLife, Inc. | 
            69,620,000  | 
            67,941,000  | 
            2.5% | 
        
        
            | 6 | 
            058052 | 
            Humana Inc. | 
            65,394,000  | 
            56,912,000  | 
            14.9% | 
        
        
            | 7 | 
            058182 | 
            Prudential Financial, Inc. | 
            65,393,000  | 
            63,465,000  | 
            3.0% | 
        
        
            | 8 | 
            066866 | 
            Manulife Financial Corporation | 
            59,561,068  | 
            27,332,771  | 
            108.8% | 
        
        
            | 9 | 
            058702 | 
            American International Group, Inc. | 
            49,746,000  | 
            47,427,000  | 
            4.9% | 
        
        
            | 10 | 
            058312 | 
            The Allstate Corporation | 
            44,681,000  | 
            39,821,000  | 
            12.2% | 
        
        
            | 11 | 
            058454 | 
            The Progressive Corporation | 
            38,818,800  | 
            31,820,600  | 
            22.0% | 
        
        
            | 12 | 
            050910 | 
            Great-West Lifeco, Inc. | 
            34,209,614  | 
            32,297,032  | 
            1.5% | 
        
        
            | 13 | 
            058470 | 
            The Travelers Companies, Inc. | 
            31,581,000  | 
            30,282,000  | 
            4.3% | 
        
        
            | 14 | 
            050913 | 
            Sun Life Financial Inc. | 
            30,421,897  | 
            19,856,308  | 
            46.8% | 
        
        
            | 15 | 
            058003 | 
            Aflac Incorporated | 
            22,307,000  | 
            21,758,000  | 
            2.5% | 
        
        
            | 16 | 
            058364 | 
            Fairfax Financial Holdings Limited | 
            21,532,800  | 
            17,757,700  | 
            21.3% | 
        
        
            | 17 | 
            058707 | 
            The Hartford Financial Services Group, Inc. | 
            20,740,000  | 
            18,955,000  | 
            9.4% | 
        
        
            | 18 | 
            058709 | 
            Lincoln National Corporation | 
            17,258,000  | 
            16,424,000  | 
            5.1% | 
        
        
            | 19 | 
            051101 | 
            Molina Healthcare, Inc. | 
            16,844,000  | 
            18,890,000  | 
            -10.8% | 
        
        
            | 20 | 
            058179 | 
            Principal Financial Group, Inc. | 
            16,222,100  | 
            14,237,200  | 
            13.9% | 
        
        
            | 21 | 
            050177 | 
            Loews Corporation | 
            14,931,000  | 
            14,066,000  | 
            6.1% | 
        
        
            | 22 | 
            058089 | 
            Reinsurance Group of America, Incorporated | 
            14,300,000  | 
            12,876,000  | 
            11.1% | 
        
        
            | 23 | 
            051409 | 
            AXA Equitable Holdings, Inc. | 
            13,591,000  | 
            12,309,000  | 
            10.4% | 
        
        
            | 24 | 
            050542 | 
            Ameriprise Financial, Inc. | 
            13,103,000  | 
            12,924,000  | 
            1.4% | 
        
        
            | 25 | 
            058110 | 
            Unum Group | 
            11,998,900  | 
            11,598,500  | 
            3.5% | 
        
        
            | 26 | 
            051156 | 
            Assurant, Inc. | 
            10,086,800  | 
            8,057,600  | 
            25.2% | 
        
        
            | 27 | 
            058405 | 
            Markel Corporation | 
            9,526,191  | 
            6,947,883  | 
            37.1% | 
        
        
            | 28 | 
            058309 | 
            Alleghany Corporation | 
            9,040,716  | 
            6,887,160  | 
            31.3% | 
        
        
            | 29 | 
            051160 | 
            Intact Financial Corporation | 
            8,685,957  | 
            7,757,390  | 
            7.3% | 
        
        
            | 30 | 
            046498 | 
            Brighthouse Financial, Inc. | 
            8,542,000  | 
            8,965,000  | 
            -4.7% | 
        
        
            | 31 | 
            058366 | 
            Fidelity National Financial, Inc. | 
            8,469,000  | 
            7,594,000  | 
            11.5% | 
        
        
            | 32 | 
            059780 | 
            Genworth Financial, Inc. | 
            8,096,000  | 
            7,901,000  | 
            2.5% | 
        
        
            | 33 | 
            058317 | 
            American Financial Group, Inc. | 
            8,017,000  | 
            6,939,000  | 
            15.5% | 
        
        
            | 34 | 
            058496 | 
            W. R. Berkley Corporation | 
            7,932,911  | 
            7,718,718  | 
            2.8% | 
        
        
            | 35 | 
            058704 | 
            Cincinnati Financial Corporation | 
            7,924,000  | 
            5,407,000  | 
            46.6% | 
        
        
            | 36 | 
            050817 | 
            Voya Financial Inc. | 
            7,476,000  | 
            7,163,000  | 
            4.4% | 
        
        
            | 37 | 
            058439 | 
            Old Republic International Corporation | 
            7,213,700  | 
            6,021,800  | 
            19.8% | 
        
        
            | 38 | 
            052894 | 
            First American Financial Corporation | 
            6,202,061  | 
            5,747,844  | 
            7.9% | 
        
        
            | 39 | 
            052590 | 
            National General Holdings Corp. | 
            5,179,594  | 
            4,607,971  | 
            12.4% | 
        
        
            | 40 | 
            058711 | 
            Kemper Corporation | 
            5,039,200  | 
            3,725,100  | 
            35.3% | 
        
        
            | 41 | 
            058505 | 
            The Hanover Insurance Group, Inc. | 
            4,890,700  | 
            4,494,300  | 
            8.8% | 
        
        
            | 42 | 
            058103 | 
            Globe Life Inc. | 
            4,527,532  | 
            4,303,751  | 
            5.2% | 
        
        
            | 43 | 
            058009 | 
            American National Insurance Company | 
            4,070,143  | 
            3,326,382  | 
            22.4% | 
        
        
            | 44 | 
            058030 | 
            CNO Financial Group, Inc. | 
            4,015,800  | 
            4,313,500  | 
            -6.9% | 
        
        
            | 45 | 
            058411 | 
            Mercury General Corporation | 
            3,972,518  | 
            3,380,004  | 
            17.5% | 
        
        
            | 46 | 
            033745 | 
            OneMain Holdings, Inc. | 
            3,655,000  | 
            3,193,000  | 
            14.5% | 
        
        
            | 47 | 
            050750 | 
            American Equity Investment Life Holding Company | 
            3,466,346  | 
            1,547,098  | 
            124.1% | 
        
        
            | 48 | 
            050905 | 
            Triple-S Management Corporation | 
            3,375,586  | 
            2,996,059  | 
            12.7% | 
        
        
            | 49 | 
            058466 | 
            Selective Insurance Group, Inc. | 
            2,846,491  | 
            2,586,080  | 
            10.1% | 
        
        
            | 50 | 
            058453 | 
            Primerica, Inc. | 
            2,052,504  | 
            1,899,843  | 
            8.0% | 
        
        
            | 51 | 
            058517 | 
            Stewart Information Services Corporation | 
            1,940,008  | 
            1,907,672  | 
            1.7% | 
        
        
            | 52 | 
            058348 | 
            Radian Group Inc. | 
            1,526,955  | 
            1,274,357  | 
            19.8% | 
        
        
            | 53 | 
            058706 | 
            Horace Mann Educators Corporation | 
            1,430,485  | 
            1,191,599  | 
            20.0% | 
        
        
            | 54 | 
            058469 | 
            State Auto Financial Corporation | 
            1,410,000  | 
            1,275,800  | 
            10.5% | 
        
        
            | 55 | 
            058413 | 
            MGIC Investment Corporation | 
            1,213,977  | 
            1,123,848  | 
            8.0% | 
        
        
            | 56 | 
            058589 | 
            United Fire Group, Inc. | 
            1,201,165  | 
            1,070,166  | 
            12.2% | 
        
        
            | 57 | 
            058460 | 
            RLI Corp. | 
            1,003,591  | 
            818,123  | 
            22.7% | 
        
        
            | 58 | 
            050660 | 
            ProAssurance Corporation | 
            999,834  | 
            886,030  | 
            12.8% | 
        
        
            | 59 | 
            051146 | 
            Universal Insurance Holdings, Inc. | 
            939,351  | 
            823,816  | 
            14.0% | 
        
        
            | 60 | 
            051085 | 
            Safety Insurance Group, Inc. | 
            877,753  | 
            836,497  | 
            4.9% | 
        
        
            | 61 | 
            051243 | 
            Employers Holdings, Inc. | 
            835,900  | 
            800,400  | 
            4.4% | 
        
        
            | 62 | 
            051554 | 
            United Insurance Holdings Corp. | 
            825,235  | 
            724,058  | 
            14.0% | 
        
        
            | 63 | 
            046134 | 
            National Western Life Group, Inc. | 
            819,188  | 
            551,599  | 
            48.5% | 
        
        
            | 64 | 
            058355 | 
            Donegal Group Inc. | 
            812,451  | 
            771,829  | 
            5.3% | 
        
        
            | 65 | 
            058512 | 
            FBL Financial Group Inc. | 
            774,681  | 
            719,626  | 
            7.7% | 
        
        
            | 66 | 
            033690 | 
            Tiptree Inc. | 
            772,728  | 
            625,826  | 
            23.5% | 
        
        
            | 67 | 
            050708 | 
            Ambac Financial Group, Inc. | 
            546,000  | 
            511,000  | 
            6.8% | 
        
        
            | 68 | 
            058060 | 
            Kansas City Life Insurance Company | 
            512,693  | 
            461,032  | 
            11.2% | 
        
        
            | 69 | 
            046190 | 
            Heritage Insurance Holdings, Inc. | 
            511,305  | 
            480,171  | 
            6.5% | 
        
        
            | 70 | 
            058332 | 
            Protective Insurance Corporation | 
            495,597  | 
            439,169  | 
            12.8% | 
        
        
            | 71 | 
            058178 | 
            FedNat Holding Company | 
            414,961  | 
            396,093  | 
            4.8% | 
        
        
            | 72 | 
            058054 | 
            Independence Holding Company | 
            374,448  | 
            350,775  | 
            6.7% | 
        
        
            | 73 | 
            051277 | 
            AMERISAFE, Inc. | 
            370,370  | 
            377,753  | 
            -2.0% | 
        
        
            | 74 | 
            052557 | 
            Kinsale Capital Group, Inc. | 
            315,888  | 
            222,114  | 
            42.2% | 
        
        
            | 75 | 
            051487 | 
            First Acceptance Corporation | 
            292,691  | 
            323,813  | 
            -9.6% |