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
ACCO BRANDS CORP COM 00081T108 559 78,440 SH   DFND 1 78,440 0 0
ALLEGHANY CORP DEL COM 017175100 826 1,728 SH   DFND 1 1,728 0 0
ALLERGAN PLC SHS G0177J108 938 3,000 SH   SOLE   3,000 0 0
ALLSCRIPTS HEALTHCARE SOLUTN COM 01988P108 2,421 157,417 SH   DFND 1 157,417 0 0
ALLSCRIPTS HEALTHCARE SOLUTN COM 01988P108 297 19,310 SH   SOLE   19,310 0 0
ALTISOURCE PORTFOLIO SOLNS S REG SHS L0175J104 585 21,039 SH   DFND 1 21,039 0 0
AMGEN INC COM 031162100 2,119 13,056 SH   DFND 1 13,056 0 0
APPLE INC COM 037833100 1,903 18,080 SH   DFND 1 18,080 0 0
APPLE INC COM 037833100 14 132 SH   SOLE   132 0 0
ARGO GROUP INTL HLDGS LTD COM G0464B107 531 8,871 SH   DFND 1 8,871 0 0
ARRIS GROUP INC NEW COM 04270V106 945 30,900 SH   SOLE   30,900 0 0
ASSURED GUARANTY LTD COM G0585R106 16 591 SH   SOLE   591 0 0
ASSURED GUARANTY LTD COM G0585R106 528 19,987 SH   DFND 1 19,987 0 0
BANC CALIF INC COM 05990K106 509 34,811 SH   DFND 1 34,811 0 0
BANK NEW YORK MELLON CORP COM 064058100 2,032 49,298 SH   DFND 1 49,298 0 0
BAXTER INTL INC COM 071813109 1,888 49,488 SH   DFND 1 49,488 0 0
BAXTER INTL INC COM 071813109 935 24,514 SH   SOLE   24,514 0 0
BED BATH & BEYOND INC COM 075896100 1,243 25,767 SH   DFND 1 25,767 0 0
BEST BUY INC COM 086516101 1,071 35,166 SH   DFND 1 35,166 0 0
BEST BUY INC COM 086516101 683 22,447 SH   SOLE   22,447 0 0
BIO RAD LABS INC CL A 090572207 2,293 16,537 SH   DFND 1 16,537 0 0
BIOGEN INC COM 09062X103 415 1,354 SH   SOLE   1,354 0 0
BRINKER INTL INC COM 109641100 1,600 33,361 SH   DFND 1 33,361 0 0
BROCADE COMMUNICATIONS SYS I COM NEW 111621306 768 83,697 SH   SOLE   83,697 0 0
CA INC COM 12673P105 942 33,000 SH   DFND 1 33,000 0 0
CABLEVISION SYS CORP CL A NY CABLVS 12686C109 542 17,000 SH   DFND 1 17,000 0 0
CAESARS ENTMT CORP COM 127686103 573 72,624 SH   DFND 1 72,624 0 0
CAL MAINE FOODS INC COM NEW 128030202 469 10,112 SH   DFND 1 10,112 0 0
CALPINE CORP COM NEW 131347304 1,937 133,893 SH   DFND 1 133,893 0 0
CALPINE CORP COM NEW 131347304 804 55,596 SH   SOLE   55,596 0 0
CASH AMER INTL INC COM 14754D100 543 18,146 SH   DFND 1 18,146 0 0
CENTURYLINK INC COM 156700106 1,965 78,095 SH   DFND 1 78,095 0 0
CENTURYLINK INC COM 156700106 858 34,087 SH   SOLE   34,087 0 0
CHEMTURA CORP COM NEW 163893209 502 18,413 SH   DFND 1 18,413 0 0
CIT GROUP INC COM NEW 125581801 1,968 49,576 SH   DFND 1 49,576 0 0
CIT GROUP INC COM NEW 125581801 830 20,909 SH   SOLE   20,909 0 0
COLFAX CORP COM 194014106 747 31,981 SH   SOLE   31,981 0 0
COMMERCIAL METALS CO COM 201723103 520 37,961 SH   DFND 1 37,961 0 0
COMMUNITY HEALTH SYS INC NEW COM 203668108 638 24,036 SH   SOLE   24,036 0 0
COMMUNITY HEALTH SYS INC NEW COM 203668108 1,158 43,638 SH   DFND 1 43,638 0 0
COMPUTER SCIENCES CORP COM 205363104 1,037 31,721 SH   DFND 1 31,721 0 0
COMPUTER SCIENCES CORP COM 205363104 264 8,071 SH   SOLE   8,071 0 0
CORNING INC COM 219350105 1,793 98,086 SH   DFND 1 98,086 0 0
CRANE CO COM 224399105 1,964 41,062 SH   DFND 1 41,062 0 0
CSRA INC COM 12650T104 952 31,721 SH   DFND 1 31,721 0 0
DEAN FOODS CO NEW COM NEW 242370203 565 32,955 SH   DFND 1 32,955 0 0
EARTHLINK HLDGS CORP COM 27033X101 530 71,364 SH   DFND 1 71,364 0 0
EATON CORP PLC SHS G29183103 1,961 37,688 SH   DFND 1 37,688 0 0
EATON CORP PLC SHS G29183103 14 269 SH   SOLE   269 0 0
EBAY INC COM 278642103 535 19,451 SH   DFND 1 19,451 0 0
EBAY INC COM 278642103 824 30,000 SH   SOLE   30,000 0 0
ECHOSTAR CORP CL A 278768106 1,293 33,060 SH   DFND 1 33,060 0 0
EMERGENT BIOSOLUTIONS INC COM 29089Q105 544 13,598 SH   DFND 1 13,598 0 0
ERIE INDTY CO CL A 29530P102 2,511 26,256 SH   DFND 1 26,256 0 0
ERIE INDTY CO CL A 29530P102 510 5,331 SH   SOLE   5,331 0 0
EVEREST RE GROUP LTD COM G3223R108 1,615 8,823 SH   DFND 1 8,823 0 0
EVEREST RE GROUP LTD COM G3223R108 246 1,343 SH   SOLE   1,343 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 2,065 23,622 SH   DFND 1 23,622 0 0
EXXON MOBIL CORP COM 30231G102 1,891 24,259 SH   DFND 1 24,259 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 2,220 64,042 SH   DFND 1 64,042 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 927 26,729 SH   SOLE   26,729 0 0
FIRST SOLAR INC COM 336433107 3,589 54,387 SH   DFND 1 54,387 0 0
FIRST SOLAR INC COM 336433107 927 14,045 SH   SOLE   14,045 0 0
FLEXTRONICS INTL LTD ORD Y2573F102 2,005 178,891 SH   DFND 1 178,891 0 0
FLEXTRONICS INTL LTD ORD Y2573F102 930 82,916 SH   SOLE   82,916 0 0
FLUOR CORP NEW COM 343412102 1,920 40,665 SH   DFND 1 40,665 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 1,818 129,032 SH   DFND 1 129,032 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 823 58,459 SH   SOLE   58,459 0 0
FREEPORT-MCMORAN INC CL B 35671D857 522 77,042 SH   SOLE   77,042 0 0
GAMESTOP CORP NEW CL A 36467W109 519 18,500 SH   SOLE   18,500 0 0
GENERAL CABLE CORP DEL NEW COM 369300108 534 39,735 SH   DFND 1 39,735 0 0
GENERAL MTRS CO COM 37045V100 1,931 56,790 SH   DFND 1 56,790 0 0
GENERAL MTRS CO COM 37045V100 684 20,100 SH   SOLE   20,100 0 0
GILEAD SCIENCES INC COM 375558103 550 5,434 SH   DFND 1 5,434 0 0
GILEAD SCIENCES INC COM 375558103 916 9,046 SH   SOLE   9,046 0 0
GOODYEAR TIRE & RUBR CO COM 382550101 2,279 69,766 SH   DFND 1 69,766 0 0
GOODYEAR TIRE & RUBR CO COM 382550101 567 17,347 SH   SOLE   17,347 0 0
GREEN DOT CORP CL A 39304D102 556 33,852 SH   DFND 1 33,852 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 551 12,672 SH   DFND 1 12,672 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 929 21,377 SH   SOLE   21,377 0 0
HEWLETT PACKARD ENTERPRISE C COM 42824C109 758 49,839 SH   DFND 1 49,839 0 0
HOWARD HUGHES CORP COM 44267D107 638 5,640 SH   DFND 1 5,640 0 0
HP INC COM 40434L105 590 49,839 SH   DFND 1 49,839 0 0
HP INC COM 40434L105 233 19,650 SH   SOLE   19,650 0 0
HRG GROUP INC COM 40434J100 554 40,838 SH   DFND 1 40,838 0 0
HUNTINGTON INGALLS INDS INC COM 446413106 2,217 17,474 SH   DFND 1 17,474 0 0
HUNTINGTON INGALLS INDS INC COM 446413106 918 7,236 SH   SOLE   7,236 0 0
IAC INTERACTIVECORP COM PAR $.001 44919P508 1,831 30,486 SH   DFND 1 30,486 0 0
IAC INTERACTIVECORP COM PAR $.001 44919P508 834 13,890 SH   SOLE   13,890 0 0
INTEL CORP COM 458140100 2,091 60,709 SH   DFND 1 60,709 0 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 1,594 6,221 SH   DFND 1 6,221 0 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 929 3,626 SH   SOLE   3,626 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 1,676 12,176 SH   DFND 1 12,176 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 826 6,000 SH   SOLE   6,000 0 0
INTERPUBLIC GROUP COS INC COM 460690100 1,959 84,164 SH   DFND 1 84,164 0 0
IRIDIUM COMMUNICATIONS INC COM 46269C102 518 61,539 SH   DFND 1 61,539 0 0
JACOBS ENGR GROUP INC DEL COM 469814107 1,018 24,256 SH   DFND 1 24,256 0 0
JOHNSON & JOHNSON COM 478160104 1,965 19,125 SH   DFND 1 19,125 0 0
JONES LANG LASALLE INC COM 48020Q107 2,133 13,340 SH   DFND 1 13,340 0 0
KCG HLDGS INC CL A 48244B100 537 43,648 SH   DFND 1 43,648 0 0
LAS VEGAS SANDS CORP COM 517834107 773 17,625 SH   SOLE   17,625 0 0
LEGG MASON INC COM 524901105 1,976 50,370 SH   DFND 1 50,370 0 0
LEGG MASON INC COM 524901105 8 194 SH   SOLE   194 0 0
LEUCADIA NATL CORP COM 527288104 1,009 58,000 SH   DFND 1 58,000 0 0
LEUCADIA NATL CORP COM 527288104 575 33,098 SH   SOLE   33,098 0 0
LIBERTY INTERACTIVE CORP QVC GP COM SER 53071M104 1,949 71,339 SH   DFND 1 71,339 0 0
LIBERTY INTERACTIVE CORP QVC GP COM SER 53071M104 795 29,087 SH   SOLE   29,087 0 0
LIONS GATE ENTMNT CORP COM NEW 535919203 2,023 62,461 SH   DFND 1 62,461 0 0
LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 813 9,362 SH   SOLE   9,362 0 0
LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 2,425 27,906 SH   DFND 1 27,906 0 0
MALLINCKRODT PUB LTD CO SHS G5785G107 562 7,528 SH   SOLE   7,528 0 0
MANPOWERGROUP INC COM 56418H100 2,473 29,338 SH   DFND 1 29,338 0 0
MANPOWERGROUP INC COM 56418H100 914 10,854 SH   SOLE   10,854 0 0
MATSON INC COM 57686G105 458 10,735 SH   DFND 1 10,735 0 0
MEDIVATION INC COM 58501N101 2,085 43,136 SH   DFND 1 43,136 0 0
MEDIVATION INC COM 58501N101 878 18,171 SH   SOLE   18,171 0 0
MERCK & CO INC NEW COM 58933Y105 1,875 35,504 SH   DFND 1 35,504 0 0
MERCK & CO INC NEW COM 58933Y105 860 16,291 SH   SOLE   16,291 0 0
MGIC INVT CORP WIS COM 552848103 2,329 263,797 SH   DFND 1 263,797 0 0
MGIC INVT CORP WIS COM 552848103 815 92,225 SH   SOLE   92,225 0 0
MICHAEL KORS HLDGS LTD SHS G60754101 896 22,363 SH   SOLE   22,363 0 0
MICHAEL KORS HLDGS LTD SHS G60754101 1,314 32,806 SH   DFND 1 32,806 0 0
MICRON TECHNOLOGY INC COM 595112103 313 22,076 SH   SOLE   22,076 0 0
MOLSON COORS BREWING CO CL B 60871R209 2,740 29,171 SH   DFND 1 29,171 0 0
MORGAN STANLEY COM NEW 617446448 1,640 51,547 SH   DFND 1 51,547 0 0
MOSAIC CO NEW COM 61945C103 596 21,594 SH   SOLE   21,594 0 0
MOVADO GROUP INC COM 624580106 254 9,881 SH   DFND 1 9,881 0 0
MYLAN N V SHS EURO N59465109 2,025 37,445 SH   DFND 1 37,445 0 0
MYLAN N V SHS EURO N59465109 821 15,184 SH   SOLE   15,184 0 0
MYRIAD GENETICS INC COM 62855J104 2,346 54,352 SH   DFND 1 54,352 0 0
MYRIAD GENETICS INC COM 62855J104 946 21,900 SH   SOLE   21,900 0 0
NASDAQ INC COM 631103108 2,426 41,702 SH   DFND 1 41,702 0 0
NATIONAL OILWELL VARCO INC COM 637071101 771 23,012 SH   SOLE   23,012 0 0
NAVIENT CORP COM 63938C108 377 32,921 SH   DFND 1 32,921 0 0
NAVIENT CORP COM 63938C108 797 69,645 SH   SOLE   69,645 0 0
NET 1 UEPS TECHNOLOGIES INC COM NEW 64107N206 500 36,993 SH   DFND 1 36,993 0 0
NEWMONT MINING CORP COM 651639106 711 39,503 SH   SOLE   39,503 0 0
NUCOR CORP COM 670346105 1,749 43,394 SH   DFND 1 43,394 0 0
OCEANEERING INTL INC COM 675232102 876 23,357 SH   SOLE   23,357 0 0
OCWEN FINL CORP COM NEW 675746309 271 38,867 SH   DFND 1 38,867 0 0
OLD REP INTL CORP COM 680223104 3,032 162,723 SH   DFND 1 162,723 0 0
OLD REP INTL CORP COM 680223104 881 47,328 SH   SOLE   47,328 0 0
ON SEMICONDUCTOR CORP COM 682189105 2,093 213,576 SH   DFND 1 213,576 0 0
ON SEMICONDUCTOR CORP COM 682189105 889 90,700 SH   SOLE   90,700 0 0
ORACLE CORP COM 68389X105 446 12,200 SH   SOLE   12,200 0 0
ORTHOFIX INTL N V COM N6748L102 547 13,955 SH   DFND 1 13,955 0 0
OWENS CORNING NEW COM 690742101 919 19,548 SH   SOLE   19,548 0 0
PAR PACIFIC HOLDINGS INC COM NEW 69888T207 542 23,022 SH   DFND 1 23,022 0 0
PENN NATL GAMING INC COM 707569109 557 34,794 SH   DFND 1 34,794 0 0
PENTAIR PLC SHS G7S00T104 825 16,645 SH   SOLE   16,645 0 0
PERRIGO CO PLC SHS G97822103 458 3,166 SH   SOLE   3,166 0 0
PERRIGO CO PLC SHS G97822103 1,731 11,965 SH   DFND 1 11,965 0 0
PFIZER INC COM 717081103 2,073 64,205 SH   DFND 1 64,205 0 0
PILGRIMS PRIDE CORP NEW COM 72147K108 2,632 119,153 SH   DFND 1 119,153 0 0
PILGRIMS PRIDE CORP NEW COM 72147K108 919 41,616 SH   SOLE   41,616 0 0
RADIAN GROUP INC COM 750236101 2,332 174,185 SH   DFND 1 174,185 0 0
RADIAN GROUP INC COM 750236101 851 63,498 SH   SOLE   63,498 0 0
REGAL BELOIT CORP COM 758750103 1,937 33,094 SH   DFND 1 33,094 0 0
REGAL ENTMT GROUP CL A 758766109 1,126 59,659 SH   DFND 1 59,659 0 0
REGIS CORP MINN COM 758932107 448 31,651 SH   DFND 1 31,651 0 0
REINSURANCE GROUP AMER INC COM NEW 759351604 1,879 21,960 SH   DFND 1 21,960 0 0
REINSURANCE GROUP AMER INC COM NEW 759351604 14 168 SH   SOLE   168 0 0
RELIANCE STEEL & ALUMINUM CO COM 759509102 2,018 34,846 SH   DFND 1 34,846 0 0
RELIANCE STEEL & ALUMINUM CO COM 759509102 800 13,820 SH   SOLE   13,820 0 0
SANDERSON FARMS INC COM 800013104 588 7,588 SH   DFND 1 7,588 0 0
SCRIPPS NETWORKS INTERACT IN CL A COM 811065101 2,002 36,268 SH   DFND 1 36,268 0 0
SEAGATE TECHNOLOGY PLC SHS G7945M107 1,103 30,076 SH   DFND 1 30,076 0 0
SEAGATE TECHNOLOGY PLC SHS G7945M107 16 432 SH   SOLE   432 0 0
SMITH & WESSON HLDG CORP COM 831756101 531 24,175 SH   DFND 1 24,175 0 0
SOHU COM INC COM 83408W103 206 3,604 SH   SOLE   3,604 0 0
SOUTHWESTERN ENERGY CO COM 845467109 437 61,500 SH   SOLE   61,500 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 1,227 6,020 SH   SOLE   6,020 0 0
SPIRIT AEROSYSTEMS HLDGS INC COM CL A 848574109 745 14,872 SH   SOLE   14,872 0 0
STAPLES INC COM 855030102 615 64,895 SH   SOLE   64,895 0 0
SURGICAL CARE AFFILIATES INC COM 86881L106 557 13,986 SH   DFND 1 13,986 0 0
SYMANTEC CORP COM 871503108 1,637 77,958 SH   DFND 1 77,958 0 0
TARGA RES CORP COM 87612G101 417 15,400 SH   SOLE   15,400 0 0
TECH DATA CORP COM 878237106 549 8,272 SH   DFND 1 8,272 0 0
TELEPHONE & DATA SYS INC COM NEW 879433829 2,364 91,326 SH   DFND 1 91,326 0 0
TELEPHONE & DATA SYS INC COM NEW 879433829 825 31,877 SH   SOLE   31,877 0 0
TENNECO INC COM 880349105 351 7,641 SH   DFND 1 7,641 0 0
TENNECO INC COM 880349105 840 18,300 SH   SOLE   18,300 0 0
TESORO CORP COM 881609101 3,409 32,357 SH   DFND 1 32,357 0 0
TESORO CORP COM 881609101 943 8,948 SH   SOLE   8,948 0 0
TESSERA TECHNOLOGIES INC COM 88164L100 450 14,993 SH   DFND 1 14,993 0 0
TIME WARNER INC COM NEW 887317303 726 11,230 SH   SOLE   11,230 0 0
TRIBUNE MEDIA CO CL A 896047503 1,344 39,748 SH   DFND 1 39,748 0 0
TRIBUNE MEDIA CO CL A 896047503 551 16,309 SH   SOLE   16,309 0 0
TRINITY INDS INC COM 896522109 804 33,478 SH   SOLE   33,478 0 0
TRIPLE-S MGMT CORP CL B 896749108 542 22,660 SH   DFND 1 22,660 0 0
TWENTY FIRST CENTY FOX INC CL A 90130A101 1,219 44,895 SH   DFND 1 44,895 0 0
TYSON FOODS INC CL A 902494103 2,661 49,888 SH   DFND 1 49,888 0 0
UNITED CONTL HLDGS INC COM 910047109 887 15,477 SH   SOLE   15,477 0 0
UNITED RENTALS INC COM 911363109 907 12,500 SH   SOLE   12,500 0 0
UNITED STATES CELLULAR CORP COM 911684108 906 22,202 SH   SOLE   22,202 0 0
UNITED THERAPEUTICS CORP DEL COM 91307C102 2,963 18,920 SH   DFND 1 18,920 0 0
UNITED THERAPEUTICS CORP DEL COM 91307C102 904 5,772 SH   SOLE   5,772 0 0
UNIVERSAL CORP VA COM 913456109 561 10,008 SH   DFND 1 10,008 0 0
VALERO ENERGY CORP NEW COM 91913Y100 2,576 36,425 SH   DFND 1 36,425 0 0
VALERO ENERGY CORP NEW COM 91913Y100 907 12,821 SH   SOLE   12,821 0 0
VARIAN MED SYS INC COM 92220P105 2,060 25,500 SH   DFND 1 25,500 0 0
VERISIGN INC COM 92343E102 3,535 40,466 SH   DFND 1 40,466 0 0
VERISIGN INC COM 92343E102 915 10,470 SH   SOLE   10,470 0 0
VIACOM INC NEW CL B 92553P201 721 17,513 SH   SOLE   17,513 0 0
VIAD CORP COM NEW 92552R406 514 18,195 SH   DFND 1 18,195 0 0
VONAGE HLDGS CORP COM 92886T201 541 94,273 SH   DFND 1 94,273 0 0
VOYA FINL INC COM 929089100 640 17,331 SH   DFND 1 17,331 0 0
VOYA FINL INC COM 929089100 435 11,782 SH   SOLE   11,782 0 0
WADDELL & REED FINL INC CL A 930059100 643 22,418 SH   SOLE   22,418 0 0
WALKER & DUNLOP INC COM 93148P102 543 18,836 SH   DFND 1 18,836 0 0
WESTERN REFNG INC COM 959319104 2,038 57,221 SH   DFND 1 57,221 0 0
WESTERN REFNG INC COM 959319104 850 23,876 SH   SOLE   23,876 0 0
WESTLAKE CHEM CORP COM 960413102 557 10,261 SH   SOLE   10,261 0 0
WESTROCK CO COM 96145D105 1,753 38,433 SH   DFND 1 38,433 0 0
WESTROCK CO COM 96145D105 371 8,135 SH   SOLE   8,135 0 0
WOLVERINE WORLD WIDE INC COM 978097103 491 29,400 SH   SOLE   29,400 0 0
XEROX CORP COM 984121103 16 1,481 SH   SOLE   1,481 0 0
XEROX CORP COM 984121103 2,082 195,819 SH   DFND 1 195,819 0 0