<?xml version="1.0" encoding="utf-8"?>
<informationTable xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:xsd="http://www.w3.org/2001/XMLSchema" xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable">
  <infoTable>
    <nameOfIssuer>ABBOTT LABORATORIES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>002824100</cusip>
    <value>3830</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31959</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>31959</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ABBOTT LABORATORIES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>002824100</cusip>
    <value>127</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1062</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1062</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ABBVIE, INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00287y109</cusip>
    <value>8084</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74704</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>74704</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ABBVIE, INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00287y109</cusip>
    <value>193</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1780</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1780</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ABBVIE, INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00287y109</cusip>
    <value>473</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4369</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>4369</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ACCENTURE PLC CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>g1151c101</cusip>
    <value>1260</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4560</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4560</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ACTIVISION BLIZZARD INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00507v109</cusip>
    <value>8764</value>
    <shrsOrPrnAmt>
      <sshPrnamt>94240</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>94240</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ACTIVISION BLIZZARD INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00507v109</cusip>
    <value>159</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1710</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1710</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ACTIVISION BLIZZARD INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00507v109</cusip>
    <value>512</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>5500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ACUITY BRANDS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00508Y102</cusip>
    <value>413</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ACUITY BRANDS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00508Y102</cusip>
    <value>116</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADOBE SYS INC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00724F101</cusip>
    <value>2724</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5731</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5731</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVANCED ENERGY INDUSTRIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>007973100</cusip>
    <value>382</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVANCED ENERGY INDUSTRIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>007973100</cusip>
    <value>218</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ADVANCED MICRO DEVICES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>007903107</cusip>
    <value>438</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5585</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5585</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AGILYSYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00847J105</cusip>
    <value>235</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AIR PRODUCTS AND CHEMICALS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>009158106</cusip>
    <value>6100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21682</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>21682</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AIR PRODUCTS AND CHEMICALS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>009158106</cusip>
    <value>373</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1325</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1325</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALBEMARLE CORP COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>012653101</cusip>
    <value>2247</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15377</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15377</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALBEMARLE CORP COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>012653101</cusip>
    <value>7</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALEXION PHARMACEUTICALS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>015351109</cusip>
    <value>1285</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8405</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8405</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALEXION PHARMACEUTICALS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>015351109</cusip>
    <value>306</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALIGN TECHNOLOGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>016255101</cusip>
    <value>3</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALIGN TECHNOLOGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>016255101</cusip>
    <value>244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>450</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>450</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALLIANCE DATA SYSTEMS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>018581108</cusip>
    <value>220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1959</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1959</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALLIANCE DATA SYSTEMS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>018581108</cusip>
    <value>67</value>
    <shrsOrPrnAmt>
      <sshPrnamt>600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALLSTATE CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>020002101</cusip>
    <value>373</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3250</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALPHABET INC CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02079K305</cusip>
    <value>21329</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10341</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10341</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALPHABET INC CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02079K305</cusip>
    <value>578</value>
    <shrsOrPrnAmt>
      <sshPrnamt>280</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>280</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALPHABET INC CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02079K305</cusip>
    <value>619</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALPHABET INC CL C</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02079k107</cusip>
    <value>5343</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2583</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2583</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALPHABET INC CL C</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02079k107</cusip>
    <value>8</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMAZON.COM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>023135106</cusip>
    <value>33221</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10737</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10737</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMAZON.COM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>023135106</cusip>
    <value>684</value>
    <shrsOrPrnAmt>
      <sshPrnamt>221</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>221</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMAZON.COM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>023135106</cusip>
    <value>774</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>250</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMEDISYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>023436108</cusip>
    <value>265</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMEDISYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>023436108</cusip>
    <value>212</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMERESCO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02361e108</cusip>
    <value>389</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMERESCO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02361e108</cusip>
    <value>243</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>5000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMERICAN INTL GROUP NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>026874784</cusip>
    <value>208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMERIPRISE FINANCIAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03076C106</cusip>
    <value>538</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2313</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2313</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMETEK INC NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>031100100</cusip>
    <value>533</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4175</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4175</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMETEK INC NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>031100100</cusip>
    <value>192</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMGEN INCORPORATED</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>031162100</cusip>
    <value>15016</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60351</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>60351</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMGEN INCORPORATED</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>031162100</cusip>
    <value>376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1510</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1510</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMGEN INCORPORATED</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>031162100</cusip>
    <value>448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMPHENOL CORP-CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>032095101</cusip>
    <value>6505</value>
    <shrsOrPrnAmt>
      <sshPrnamt>98609</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>98609</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMPHENOL CORP-CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>032095101</cusip>
    <value>212</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3220</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3220</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AMPHENOL CORP-CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>032095101</cusip>
    <value>123</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1860</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1860</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ANALOG DEVICES, INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>032654105</cusip>
    <value>13469</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86851</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>86851</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ANALOG DEVICES, INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>032654105</cusip>
    <value>318</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2050</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2050</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ANALOG DEVICES, INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>032654105</cusip>
    <value>543</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>3500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ANSYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03662q105</cusip>
    <value>400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1179</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1179</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ANSYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03662q105</cusip>
    <value>278</value>
    <shrsOrPrnAmt>
      <sshPrnamt>820</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>820</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AON PLC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G0403H108</cusip>
    <value>529</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>APPLE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>037833100</cusip>
    <value>47362</value>
    <shrsOrPrnAmt>
      <sshPrnamt>387739</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>387739</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>APPLE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>037833100</cusip>
    <value>1085</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8880</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8880</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>APPLE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>037833100</cusip>
    <value>770</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>6300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>APPLIED MATERIALS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>038222105</cusip>
    <value>26051</value>
    <shrsOrPrnAmt>
      <sshPrnamt>194995</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>194995</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>APPLIED MATERIALS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>038222105</cusip>
    <value>562</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4210</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4210</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>APPLIED MATERIALS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>038222105</cusip>
    <value>601</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>4500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ARCHER-DANIELS-MIDLND CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>039483102</cusip>
    <value>353</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6195</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6195</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ASGN INCORPORATED</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00191u102</cusip>
    <value>563</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ASGN INCORPORATED</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00191u102</cusip>
    <value>143</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AVID TECHNOLOGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>05367P100</cusip>
    <value>350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>16600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AVID TECHNOLOGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>05367P100</cusip>
    <value>211</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>10000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BANK OF AMERICA CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>060505104</cusip>
    <value>14618</value>
    <shrsOrPrnAmt>
      <sshPrnamt>377830</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>377830</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BANK OF AMERICA CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>060505104</cusip>
    <value>301</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7780</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7780</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BANK OF AMERICA CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>060505104</cusip>
    <value>352</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9110</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>9110</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BARNES GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>067806109</cusip>
    <value>406</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BARNES GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>067806109</cusip>
    <value>69</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BERKSHIRE HATHAWAY B NEW CLASS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>084670702</cusip>
    <value>510</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1996</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1996</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BEST BUY CO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>086516101</cusip>
    <value>563</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BIOGEN INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09062x103</cusip>
    <value>8244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29469</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>29469</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BIOGEN INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09062x103</cusip>
    <value>171</value>
    <shrsOrPrnAmt>
      <sshPrnamt>613</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>613</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BIOGEN INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09062x103</cusip>
    <value>280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BLACKROCK INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09247x101</cusip>
    <value>12727</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16880</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>16880</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BLACKROCK INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09247x101</cusip>
    <value>290</value>
    <shrsOrPrnAmt>
      <sshPrnamt>385</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>385</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BLACKROCK INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09247x101</cusip>
    <value>415</value>
    <shrsOrPrnAmt>
      <sshPrnamt>550</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>550</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BOEING CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>097023105</cusip>
    <value>11970</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46993</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>46993</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BOEING CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>097023105</cusip>
    <value>265</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1040</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1040</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BOEING CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>097023105</cusip>
    <value>255</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BRISTOL MYERS SQUIBB CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>110122108</cusip>
    <value>6150</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97420</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>97420</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BRISTOL MYERS SQUIBB CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>110122108</cusip>
    <value>100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1590</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1590</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BRISTOL MYERS SQUIBB CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>110122108</cusip>
    <value>177</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BROADCOM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>11135f101</cusip>
    <value>13007</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28052</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>28052</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BROADCOM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>11135f101</cusip>
    <value>322</value>
    <shrsOrPrnAmt>
      <sshPrnamt>694</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>694</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BROADCOM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>11135f101</cusip>
    <value>556</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BROOKS AUTOMATION INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>114340102</cusip>
    <value>474</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BROOKS AUTOMATION INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>114340102</cusip>
    <value>139</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BUNGE LIMITED F</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G16962105</cusip>
    <value>430</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5430</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5430</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BUNGE LIMITED F</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G16962105</cusip>
    <value>79</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPITAL ONE FINANCIAL CP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14040h105</cusip>
    <value>9219</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72459</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>72459</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPITAL ONE FINANCIAL CP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14040h105</cusip>
    <value>258</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2030</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2030</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CAPITAL ONE FINANCIAL CP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14040h105</cusip>
    <value>369</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CARRIER GLOBAL CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14448C104</cusip>
    <value>1387</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32847</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>32847</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CARRIER GLOBAL CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>14448C104</cusip>
    <value>41</value>
    <shrsOrPrnAmt>
      <sshPrnamt>980</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>980</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CATERPILLAR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>149123101</cusip>
    <value>13792</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59481</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>59481</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CATERPILLAR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>149123101</cusip>
    <value>278</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CATERPILLAR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>149123101</cusip>
    <value>414</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1785</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1785</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CATHAY GENERAL BANCORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>149150104</cusip>
    <value>224</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CATHAY GENERAL BANCORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>149150104</cusip>
    <value>106</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CELESTICA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>15101q108</cusip>
    <value>100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CELESTICA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>15101q108</cusip>
    <value>96</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>11500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CENTENE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>15135b101</cusip>
    <value>7207</value>
    <shrsOrPrnAmt>
      <sshPrnamt>112764</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>112764</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CENTENE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>15135b101</cusip>
    <value>210</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3285</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3285</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CF INDUSTRIES HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>125269100</cusip>
    <value>1474</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32487</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>32487</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CF INDUSTRIES HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>125269100</cusip>
    <value>88</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1950</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CHECK POINT SOFTWARE TECH. LTD</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>m22465104</cusip>
    <value>5924</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52907</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>52907</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CHECK POINT SOFTWARE TECH. LTD</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>m22465104</cusip>
    <value>138</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1235</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1235</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CHECK POINT SOFTWARE TECH. LTD</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>m22465104</cusip>
    <value>189</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1685</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1685</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CHENIERE ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>16411R208</cusip>
    <value>2660</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36940</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>36940</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CHENIERE ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>16411R208</cusip>
    <value>86</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CHEVRON CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>166764100</cusip>
    <value>6805</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64939</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>64939</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CHEVRON CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>166764100</cusip>
    <value>129</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1230</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1230</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CHEVRON CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>166764100</cusip>
    <value>157</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CHIPOTLE MEXICAN GRILL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>169656105</cusip>
    <value>109</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>77</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CHIPOTLE MEXICAN GRILL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>169656105</cusip>
    <value>114</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>80</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CHUBB/ACE LIMITED COM NPV</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>H1467j104</cusip>
    <value>5991</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37923</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>37923</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CHUBB/ACE LIMITED COM NPV</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>H1467j104</cusip>
    <value>147</value>
    <shrsOrPrnAmt>
      <sshPrnamt>930</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>930</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CHUBB/ACE LIMITED COM NPV</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>H1467j104</cusip>
    <value>221</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CIGNA CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>125523100</cusip>
    <value>1470</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6081</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6081</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CIGNA CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>125523100</cusip>
    <value>292</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1207</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1207</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CIRRUS LOGIC CORP COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>172755100</cusip>
    <value>382</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CIRRUS LOGIC CORP COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>172755100</cusip>
    <value>161</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CISCO SYSTEMS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>17275R102</cusip>
    <value>5938</value>
    <shrsOrPrnAmt>
      <sshPrnamt>114827</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>114827</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CITIGROUP INC NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>172967424</cusip>
    <value>8823</value>
    <shrsOrPrnAmt>
      <sshPrnamt>121280</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>121280</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CITIGROUP INC NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>172967424</cusip>
    <value>232</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3190</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3190</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CITIGROUP INC NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>172967424</cusip>
    <value>327</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>4500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CITRIX SYSTEMS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>177376100</cusip>
    <value>281</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COMCAST CORP NEW CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>20030n101</cusip>
    <value>511</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9449</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9449</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COMERICA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>200340107</cusip>
    <value>2347</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32716</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>32716</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COMERICA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>200340107</cusip>
    <value>147</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2050</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2050</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CONMED CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>207410101</cusip>
    <value>326</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CONMED CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>207410101</cusip>
    <value>104</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CONOCOPHILLIPS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>20825c104</cusip>
    <value>2553</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48188</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>48188</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CONOCOPHILLIPS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>20825c104</cusip>
    <value>112</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2120</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2120</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CONOCOPHILLIPS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>20825c104</cusip>
    <value>191</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>3600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CONTINENTAL RES INC OKLA COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>212015101</cusip>
    <value>1120</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>43300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CORNING INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>219350105</cusip>
    <value>996</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>22900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CORNING INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>219350105</cusip>
    <value>451</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10360</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>10360</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CORTEVA INC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>22052L104</cusip>
    <value>4193</value>
    <shrsOrPrnAmt>
      <sshPrnamt>89942</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>89942</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CORTEVA INC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>22052L104</cusip>
    <value>137</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2936</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2936</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COSTCO WHSL CORP NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>22160K105</cusip>
    <value>13330</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37816</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>37816</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COSTCO WHSL CORP NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>22160K105</cusip>
    <value>306</value>
    <shrsOrPrnAmt>
      <sshPrnamt>868</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>868</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COSTCO WHSL CORP NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>22160K105</cusip>
    <value>352</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CREE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>225447101</cusip>
    <value>270</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CROCS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>227046109</cusip>
    <value>241</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CSX CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>126408103</cusip>
    <value>15074</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156339</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>156339</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CSX CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>126408103</cusip>
    <value>384</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3980</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3980</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CSX CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>126408103</cusip>
    <value>424</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>4400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CTS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>126501105</cusip>
    <value>280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CVS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>126650100</cusip>
    <value>4718</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62718</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>62718</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CVS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>126650100</cusip>
    <value>23</value>
    <shrsOrPrnAmt>
      <sshPrnamt>310</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>310</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CVS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>126650100</cusip>
    <value>226</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>3000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>D.R. HORTON INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>23331A109</cusip>
    <value>1098</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12320</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12320</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DEERE &amp; CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>244199105</cusip>
    <value>16477</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44039</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>44039</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DEERE &amp; CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>244199105</cusip>
    <value>335</value>
    <shrsOrPrnAmt>
      <sshPrnamt>895</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>895</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DEERE &amp; CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>244199105</cusip>
    <value>612</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1635</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1635</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DELL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>24703L202</cusip>
    <value>10180</value>
    <shrsOrPrnAmt>
      <sshPrnamt>115487</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>115487</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DELL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>24703L202</cusip>
    <value>334</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3786</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3786</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DEXCOM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>252131107</cusip>
    <value>710</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1976</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1976</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DEXCOM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>252131107</cusip>
    <value>288</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DOLLAR GEN CORP COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>256677105</cusip>
    <value>5990</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29563</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>29563</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DOLLAR GEN CORP COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>256677105</cusip>
    <value>172</value>
    <shrsOrPrnAmt>
      <sshPrnamt>850</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>850</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DOLLAR TREE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>256746108</cusip>
    <value>3</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>29</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DOLLAR TREE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>256746108</cusip>
    <value>206</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DOUGLAS DYNAMICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>25960R105</cusip>
    <value>462</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DOUGLAS DYNAMICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>25960R105</cusip>
    <value>78</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DOW INC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>260557103</cusip>
    <value>4250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66474</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>66474</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DOW INC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>260557103</cusip>
    <value>154</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2416</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2416</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DOW INC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>260557103</cusip>
    <value>96</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DU PONT E I DE NEMOURS EXH EXP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>26614n102</cusip>
    <value>826</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10688</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10688</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DU PONT E I DE NEMOURS EXH EXP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>26614n102</cusip>
    <value>116</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DUCOMMUN INCORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>264147109</cusip>
    <value>480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DUCOMMUN INCORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>264147109</cusip>
    <value>132</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DYCOM INDUSTRIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>267475101</cusip>
    <value>557</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DYCOM INDUSTRIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>267475101</cusip>
    <value>121</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EAST WEST BANCORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>27579r104</cusip>
    <value>2826</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38286</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>38286</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EAST WEST BANCORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>27579r104</cusip>
    <value>6</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EBAY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>278642103</cusip>
    <value>1617</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26411</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>26411</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ECOLAB INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>278865100</cusip>
    <value>259</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1212</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1212</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENSIGN GROUP, INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29358P101</cusip>
    <value>422</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENSIGN GROUP, INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>29358P101</cusip>
    <value>122</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EOG RES INC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>26875p101</cusip>
    <value>1043</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14380</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14380</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EOG RES INC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>26875p101</cusip>
    <value>160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EXPEDITORS INTL OF WASHINGTON</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>302130109</cusip>
    <value>1389</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12897</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12897</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EXTREME NETWORKS, INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30226d106</cusip>
    <value>162</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>18500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EXXON MOBIL CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30231g102</cusip>
    <value>4219</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75561</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>75561</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EXXON MOBIL CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30231g102</cusip>
    <value>98</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1750</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1750</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EXXON MOBIL CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30231g102</cusip>
    <value>123</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FACEBOOK, INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30303M102</cusip>
    <value>10912</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37049</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>37049</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FACEBOOK, INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30303M102</cusip>
    <value>236</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FACEBOOK, INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30303M102</cusip>
    <value>574</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1950</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FEDEX CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>31428X106</cusip>
    <value>577</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2033</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2033</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FERRO CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>315405100</cusip>
    <value>292</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>17300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FERRO CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>315405100</cusip>
    <value>101</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>6000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIDELITY NATIONAL INFORMATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>31620M106</cusip>
    <value>374</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2661</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2661</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST REP BK SAN FRANC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>33616C100</cusip>
    <value>9636</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57784</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>57784</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST REP BK SAN FRANC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>33616C100</cusip>
    <value>205</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1230</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1230</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRST REP BK SAN FRANC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>33616C100</cusip>
    <value>204</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1225</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1225</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIVE BELOW INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>33829m101</cusip>
    <value>391</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2050</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2050</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLIR SYSTEMS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>302445101</cusip>
    <value>226</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FORTUNE BRANDS HOME &amp; SECURITY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>34964C106</cusip>
    <value>154</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1610</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1610</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FORTUNE BRANDS HOME &amp; SECURITY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>34964C106</cusip>
    <value>140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1460</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1460</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FREEPORT MCMORAN COPPER</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>35671d857</cusip>
    <value>9974</value>
    <shrsOrPrnAmt>
      <sshPrnamt>302881</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>302881</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FREEPORT MCMORAN COPPER</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>35671d857</cusip>
    <value>180</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5480</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5480</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FREEPORT MCMORAN COPPER</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>35671d857</cusip>
    <value>237</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>7200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GATX CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>361448103</cusip>
    <value>454</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GATX CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>361448103</cusip>
    <value>125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1350</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1350</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GENERAL DYNAMICS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>369550108</cusip>
    <value>1038</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5715</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5715</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GENERAL ELECTRIC COMPANY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>369604103</cusip>
    <value>153</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11637</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11637</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GENERAL MILLS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>370334104</cusip>
    <value>245</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GILEAD SCIENCES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>375558103</cusip>
    <value>6173</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95508</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>95508</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GILEAD SCIENCES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>375558103</cusip>
    <value>123</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GILEAD SCIENCES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>375558103</cusip>
    <value>233</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>3600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GOLDMAN SACHS GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>38141G104</cusip>
    <value>10426</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31885</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>31885</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GOLDMAN SACHS GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>38141G104</cusip>
    <value>234</value>
    <shrsOrPrnAmt>
      <sshPrnamt>715</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>715</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GOLDMAN SACHS GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>38141G104</cusip>
    <value>376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1150</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1150</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GOODYEAR TIRE &amp; RUBR CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>382550101</cusip>
    <value>264</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15053</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15053</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>H&amp;E EQUIPMENT SERVICES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>404030108</cusip>
    <value>274</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>H&amp;E EQUIPMENT SERVICES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>404030108</cusip>
    <value>160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>4200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HALLIBURTON CO HLDG CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>406216101</cusip>
    <value>1613</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75161</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>75161</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HALLIBURTON CO HLDG CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>406216101</cusip>
    <value>107</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>5000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HALOZYME THERAPEUTICS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>40637H109</cusip>
    <value>375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HALOZYME THERAPEUTICS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>40637H109</cusip>
    <value>83</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HARTFORD FINL SVCS GRP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>416515104</cusip>
    <value>340</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5086</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5086</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HOLLYFRONTIER CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>436106108</cusip>
    <value>726</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20290</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>20290</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HOME DEPOT INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>437076102</cusip>
    <value>14473</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47413</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>47413</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HOME DEPOT INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>437076102</cusip>
    <value>330</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1080</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1080</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HOME DEPOT INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>437076102</cusip>
    <value>229</value>
    <shrsOrPrnAmt>
      <sshPrnamt>750</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>750</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HONEYWELL INTERNATIONAL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>438516106</cusip>
    <value>12611</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58097</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>58097</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HONEYWELL INTERNATIONAL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>438516106</cusip>
    <value>310</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1430</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1430</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HONEYWELL INTERNATIONAL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>438516106</cusip>
    <value>152</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HOPE BANCORP INC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>43940T109</cusip>
    <value>300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19940</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>19940</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HOPE BANCORP INC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>43940T109</cusip>
    <value>161</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10682</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>10682</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HOWMET AEROSPACE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>443201108</cusip>
    <value>376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IAC INTERACTIVE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>44891N109</cusip>
    <value>628</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2905</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2905</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>II-VI INCORPORATED</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>902104108</cusip>
    <value>1020</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14925</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14925</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>II-VI INCORPORATED</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>902104108</cusip>
    <value>185</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ILLINOIS TOOL WORKS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>452308109</cusip>
    <value>11053</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49897</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>49897</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ILLINOIS TOOL WORKS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>452308109</cusip>
    <value>359</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1620</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1620</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ILLINOIS TOOL WORKS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>452308109</cusip>
    <value>222</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INCYTE GENOMICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45337c102</cusip>
    <value>396</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4875</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4875</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INCYTE GENOMICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45337c102</cusip>
    <value>179</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INFINERA CORP.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45667g103</cusip>
    <value>96</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INGREDION INC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>457187102</cusip>
    <value>261</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INSIGHT ENTERPRISES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45765U103</cusip>
    <value>763</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INSIGHT ENTERPRISES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45765U103</cusip>
    <value>258</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INSPERITY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45778Q107</cusip>
    <value>293</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INSPERITY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45778Q107</cusip>
    <value>126</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INTEGRA LIFE SCIENCES HOLDINGS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>457985208</cusip>
    <value>332</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INTEGRA LIFE SCIENCES HOLDINGS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>457985208</cusip>
    <value>131</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INTEL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>458140100</cusip>
    <value>13319</value>
    <shrsOrPrnAmt>
      <sshPrnamt>208113</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>208113</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INTEL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>458140100</cusip>
    <value>250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INTEL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>458140100</cusip>
    <value>403</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>6300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INTERCONTINENTAL EXCHANGE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45866f104</cusip>
    <value>12554</value>
    <shrsOrPrnAmt>
      <sshPrnamt>112409</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>112409</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INTERCONTINENTAL EXCHANGE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45866f104</cusip>
    <value>310</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2780</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2780</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INTERCONTINENTAL EXCHANGE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>45866f104</cusip>
    <value>335</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>3000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INTERNATIONAL PAPER CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>460146103</cusip>
    <value>763</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14114</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14114</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INTL BUSINESS MACHINES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>459200101</cusip>
    <value>6929</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51997</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>51997</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INTL BUSINESS MACHINES</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>459200101</cusip>
    <value>117</value>
    <shrsOrPrnAmt>
      <sshPrnamt>880</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>880</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INTUIT INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>461202103</cusip>
    <value>17848</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46594</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>46594</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INTUIT INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>461202103</cusip>
    <value>550</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1437</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1437</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INTUITIVE SURGICAL NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46120E602</cusip>
    <value>210</value>
    <shrsOrPrnAmt>
      <sshPrnamt>284</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>284</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JOHNSON &amp; JOHNSON</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>478160104</cusip>
    <value>12631</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76855</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>76855</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JOHNSON &amp; JOHNSON</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>478160104</cusip>
    <value>332</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2020</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2020</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JOHNSON CONTROLS IINTERNATIONA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G51502105</cusip>
    <value>500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8384</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8384</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JPMORGAN CHASE &amp; CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46625h100</cusip>
    <value>10972</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72078</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>72078</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JPMORGAN CHASE &amp; CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46625h100</cusip>
    <value>249</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1635</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1635</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JPMORGAN CHASE &amp; CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46625h100</cusip>
    <value>341</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2240</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2240</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>KANSAS CITY SOUTHERN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>485170302</cusip>
    <value>11548</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43754</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>43754</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>KANSAS CITY SOUTHERN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>485170302</cusip>
    <value>208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>790</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>790</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>KANSAS CITY SOUTHERN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>485170302</cusip>
    <value>396</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>KROGER CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>501044101</cusip>
    <value>787</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21871</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>21871</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>KURA ONCOLOGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>50127t109</cusip>
    <value>297</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>KURA ONCOLOGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>50127t109</cusip>
    <value>170</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>6000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>L3HARRIS TECHNOLOGIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>502431109</cusip>
    <value>6310</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31135</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>31135</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>L3HARRIS TECHNOLOGIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>502431109</cusip>
    <value>147</value>
    <shrsOrPrnAmt>
      <sshPrnamt>725</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>725</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>L3HARRIS TECHNOLOGIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>502431109</cusip>
    <value>145</value>
    <shrsOrPrnAmt>
      <sshPrnamt>716</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>716</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LABORATORY CORP OF AMERICA HLD</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>50540r409</cusip>
    <value>9577</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37551</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>37551</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LABORATORY CORP OF AMERICA HLD</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>50540r409</cusip>
    <value>316</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1240</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1240</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LAM RESEARCH CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>512807108</cusip>
    <value>383</value>
    <shrsOrPrnAmt>
      <sshPrnamt>644</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>644</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LAM RESEARCH CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>512807108</cusip>
    <value>238</value>
    <shrsOrPrnAmt>
      <sshPrnamt>400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LILLY ELI &amp; COMPANY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>532457108</cusip>
    <value>728</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3897</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3897</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LINDE PLC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G5494J103</cusip>
    <value>12153</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43381</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>43381</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LINDE PLC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G5494J103</cusip>
    <value>475</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1695</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1695</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LINDE PLC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G5494J103</cusip>
    <value>451</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1610</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1610</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LOCKHEED MARTIN CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>539830109</cusip>
    <value>4611</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12479</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12479</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LOCKHEED MARTIN CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>539830109</cusip>
    <value>139</value>
    <shrsOrPrnAmt>
      <sshPrnamt>376</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>376</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LOEWS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>540424108</cusip>
    <value>208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4050</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4050</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LOGITECH INTERNATIONAL SA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>002575132</cusip>
    <value>105</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LOGITECH INTERNATIONAL SA</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>002575132</cusip>
    <value>261</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LOWES COMPANIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>548661107</cusip>
    <value>16048</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84384</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>84384</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LOWES COMPANIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>548661107</cusip>
    <value>361</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LOWES COMPANIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>548661107</cusip>
    <value>342</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MAGNA INTL INC CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>559222401</cusip>
    <value>1829</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20773</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>20773</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MARATHON OIL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>565849106</cusip>
    <value>383</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35880</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>35880</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MARATHON PETE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>56585A102</cusip>
    <value>703</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13139</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13139</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MARTIN MARIETTA MATLS COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>573284106</cusip>
    <value>7846</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23363</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>23363</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MARTIN MARIETTA MATLS COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>573284106</cusip>
    <value>186</value>
    <shrsOrPrnAmt>
      <sshPrnamt>555</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>555</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MARTIN MARIETTA MATLS COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>573284106</cusip>
    <value>161</value>
    <shrsOrPrnAmt>
      <sshPrnamt>480</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>480</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MASTEC INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>576323109</cusip>
    <value>469</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MASTEC INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>576323109</cusip>
    <value>253</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MASTERCARD INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>57636Q104</cusip>
    <value>20445</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57423</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>57423</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MASTERCARD INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>57636Q104</cusip>
    <value>576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1618</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1618</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MASTERCARD INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>57636Q104</cusip>
    <value>463</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MATCH GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>57667L107</cusip>
    <value>815</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5929</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5929</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MATERION CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>576690101</cusip>
    <value>285</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MATERION CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>576690101</cusip>
    <value>119</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MATTHEWS INTL CORP-CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>577128101</cusip>
    <value>435</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MATTHEWS INTL CORP-CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>577128101</cusip>
    <value>119</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>3000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MEDTRONIC PLC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>g5960l103</cusip>
    <value>9743</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82478</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>82478</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MEDTRONIC PLC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>g5960l103</cusip>
    <value>152</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1285</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1285</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MERCADOLIBRE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>58733R102</cusip>
    <value>11676</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7931</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7931</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MERCADOLIBRE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>58733R102</cusip>
    <value>349</value>
    <shrsOrPrnAmt>
      <sshPrnamt>237</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>237</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MERCADOLIBRE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>58733R102</cusip>
    <value>442</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MERCK &amp; CO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>58933y105</cusip>
    <value>528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6850</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6850</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MERCURY SYS INC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>589378108</cusip>
    <value>240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MERITOR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>59001K100</cusip>
    <value>427</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MERITOR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>59001K100</cusip>
    <value>100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>3400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>METHODE ELECTRONICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>591520200</cusip>
    <value>386</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>METHODE ELECTRONICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>591520200</cusip>
    <value>113</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>METLIFE INC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>59156r108</cusip>
    <value>395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MICROSOFT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>594918104</cusip>
    <value>37001</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156938</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>156938</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MICROSOFT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>594918104</cusip>
    <value>924</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3920</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3920</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MICROSOFT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>594918104</cusip>
    <value>804</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3410</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>3410</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MONDELEZ INTL INC CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>609207105</cusip>
    <value>608</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10390</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10390</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MORGAN STANLEY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>617446448</cusip>
    <value>10455</value>
    <shrsOrPrnAmt>
      <sshPrnamt>134631</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>134631</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MORGAN STANLEY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>617446448</cusip>
    <value>246</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3170</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3170</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MORGAN STANLEY</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>617446448</cusip>
    <value>505</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>6500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NASDAQ INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>631103108</cusip>
    <value>10949</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>74250</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NASDAQ INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>631103108</cusip>
    <value>276</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1870</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1870</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NASDAQ INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>631103108</cusip>
    <value>224</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1520</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1520</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NAVISTAR INTERNATIONAL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>63934E108</cusip>
    <value>506</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NETAPP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>64110d104</cusip>
    <value>215</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2964</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2964</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NETSCOUT SYSTEMS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>64115T104</cusip>
    <value>155</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NETSCOUT SYSTEMS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>64115T104</cusip>
    <value>79</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NORFOLK SOUTHERN CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>655844108</cusip>
    <value>16191</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60298</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>60298</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NORFOLK SOUTHERN CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>655844108</cusip>
    <value>383</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1425</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1425</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NORFOLK SOUTHERN CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>655844108</cusip>
    <value>403</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NORTHROP GRUMMAN CORP COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>666807102</cusip>
    <value>553</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1708</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1708</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NORTONLIFELOCK INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>668771108</cusip>
    <value>681</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32021</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>32021</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUVASIVE INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>670704105</cusip>
    <value>328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NUVASIVE INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>670704105</cusip>
    <value>144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NVIDIA CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>67066g104</cusip>
    <value>12529</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23466</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>23466</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NVIDIA CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>67066g104</cusip>
    <value>281</value>
    <shrsOrPrnAmt>
      <sshPrnamt>527</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>527</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NVIDIA CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>67066g104</cusip>
    <value>427</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>O'REILLY AUTOMOTIVE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>67103h107</cusip>
    <value>218</value>
    <shrsOrPrnAmt>
      <sshPrnamt>429</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>429</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>O'REILLY AUTOMOTIVE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>67103h107</cusip>
    <value>228</value>
    <shrsOrPrnAmt>
      <sshPrnamt>450</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>450</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OFG BANCORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>67103X102</cusip>
    <value>475</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>21000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ON SEMICONDUCTOR CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>682189105</cusip>
    <value>208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>5000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ONTO INNOVATION INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>683344105</cusip>
    <value>427</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ORACLE CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68389X105</cusip>
    <value>13248</value>
    <shrsOrPrnAmt>
      <sshPrnamt>188806</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>188806</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ORACLE CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68389X105</cusip>
    <value>293</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4180</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4180</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ORACLE CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68389X105</cusip>
    <value>449</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>6400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OSI SYSTEMS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>671044105</cusip>
    <value>384</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OTIS WORLDWIDE CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>68902v107</cusip>
    <value>484</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7076</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7076</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OWENS &amp; MINOR INC NEW COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>690732102</cusip>
    <value>395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OWENS CORNING NEW COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>690742101</cusip>
    <value>1049</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11395</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11395</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OWENS CORNING NEW COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>690742101</cusip>
    <value>129</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PALO ALTO NETWORKS INC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>697435105</cusip>
    <value>1018</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3160</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3160</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PARKER HANNIFIN CORP COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>701094104</cusip>
    <value>8359</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>26500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PARKER HANNIFIN CORP COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>701094104</cusip>
    <value>183</value>
    <shrsOrPrnAmt>
      <sshPrnamt>580</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>580</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PARKER HANNIFIN CORP COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>701094104</cusip>
    <value>339</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1075</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1075</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PAYPAL HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>70450y103</cusip>
    <value>21191</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87265</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>87265</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PAYPAL HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>70450y103</cusip>
    <value>612</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2520</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2520</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PAYPAL HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>70450y103</cusip>
    <value>702</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2890</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2890</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PENNANT GROUP INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>70805e109</cusip>
    <value>344</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PENNANT GROUP INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>70805e109</cusip>
    <value>78</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PERFICIENT INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>71375U101</cusip>
    <value>705</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PERFICIENT INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>71375U101</cusip>
    <value>153</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PERKINELMER INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>714046109</cusip>
    <value>212</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1650</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1650</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PFIZER INCORPORATED</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>717081103</cusip>
    <value>450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12422</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12422</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PHOTRONICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>719405102</cusip>
    <value>332</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>25800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PHOTRONICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>719405102</cusip>
    <value>103</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>8000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PIONEER NATURAL RESOURCES CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>723787107</cusip>
    <value>286</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PIPER SANDLER CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>724078100</cusip>
    <value>493</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PIPER SANDLER CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>724078100</cusip>
    <value>132</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>POWER INTEGRATIONS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>739276103</cusip>
    <value>326</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>POWER INTEGRATIONS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>739276103</cusip>
    <value>98</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROCTER &amp; GAMBLE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>742718109</cusip>
    <value>1537</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11347</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11347</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROOFPOINT INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>743424103</cusip>
    <value>491</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PROOFPOINT INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>743424103</cusip>
    <value>226</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PTC INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69370C100</cusip>
    <value>94</value>
    <shrsOrPrnAmt>
      <sshPrnamt>680</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>680</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PTC INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69370C100</cusip>
    <value>244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1770</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1770</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PULTEGROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>745867101</cusip>
    <value>5262</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100335</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>100335</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PULTEGROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>745867101</cusip>
    <value>101</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1920</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1920</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PULTEGROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>745867101</cusip>
    <value>157</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>3000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QORVO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74736k101</cusip>
    <value>8890</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48657</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>48657</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QORVO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74736k101</cusip>
    <value>190</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1040</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1040</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QORVO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74736k101</cusip>
    <value>245</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1340</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1340</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QUALCOMM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>747525103</cusip>
    <value>3473</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26192</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>26192</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QUALCOMM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>747525103</cusip>
    <value>278</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QUANTA SERVICES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74762e102</cusip>
    <value>3727</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42362</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>42362</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QUANTA SERVICES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74762e102</cusip>
    <value>249</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2830</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2830</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QUEST DIAGNOSTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74834l100</cusip>
    <value>435</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3390</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3390</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RADIAN GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>750236101</cusip>
    <value>263</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RAYMOND JAMES FINL INC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>754730109</cusip>
    <value>226</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1840</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1840</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RAYTHEON TECHNOLOGIES CORPORAT</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75513e101</cusip>
    <value>13128</value>
    <shrsOrPrnAmt>
      <sshPrnamt>169903</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>169903</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RAYTHEON TECHNOLOGIES CORPORAT</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75513e101</cusip>
    <value>325</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4202</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4202</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RAYTHEON TECHNOLOGIES CORPORAT</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75513e101</cusip>
    <value>465</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6013</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>6013</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>REGENERON PHARMACEUTICALS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75886f107</cusip>
    <value>4458</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9423</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9423</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>REGENERON PHARMACEUTICALS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75886f107</cusip>
    <value>115</value>
    <shrsOrPrnAmt>
      <sshPrnamt>244</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>244</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>REGIONS FINL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>7591EP100</cusip>
    <value>372</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RELIANCE STEEL &amp; ALUMINUM CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>759509102</cusip>
    <value>439</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2880</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2880</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RELIANCE STEEL &amp; ALUMINUM CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>759509102</cusip>
    <value>107</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RENEWABLE ENERGY GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75972A301</cusip>
    <value>244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RENEWABLE ENERGY GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75972A301</cusip>
    <value>125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RESMED INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>761152107</cusip>
    <value>9073</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46765</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>46765</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RESMED INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>761152107</cusip>
    <value>236</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1215</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1215</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ROCKWELL AUTOMATION INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>773903109</cusip>
    <value>6210</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23395</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>23395</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ROCKWELL AUTOMATION INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>773903109</cusip>
    <value>194</value>
    <shrsOrPrnAmt>
      <sshPrnamt>730</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>730</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SAIA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>78709y105</cusip>
    <value>346</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SAIA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>78709y105</cusip>
    <value>346</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SALESFORCE.COM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>79466l302</cusip>
    <value>14390</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67921</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>67921</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SALESFORCE.COM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>79466l302</cusip>
    <value>391</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1845</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1845</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SALESFORCE.COM INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>79466l302</cusip>
    <value>530</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCHLUMBERGER LTD F</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>806857108</cusip>
    <value>1164</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42797</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>42797</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCHLUMBERGER LTD F</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>806857108</cusip>
    <value>69</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2550</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2550</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCIENCE APPLICATIONS INTL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>808625107</cusip>
    <value>209</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SEMTECH CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>816850101</cusip>
    <value>559</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SEMTECH CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>816850101</cusip>
    <value>138</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SHOPIFY INC CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>82509L107</cusip>
    <value>136</value>
    <shrsOrPrnAmt>
      <sshPrnamt>123</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>123</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SHOPIFY INC CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>82509L107</cusip>
    <value>199</value>
    <shrsOrPrnAmt>
      <sshPrnamt>180</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>180</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SKYWORKS SOLUTIONS INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>83088M102</cusip>
    <value>9715</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>52950</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SKYWORKS SOLUTIONS INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>83088M102</cusip>
    <value>242</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1320</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1320</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SKYWORKS SOLUTIONS INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>83088M102</cusip>
    <value>275</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SONIC AUTOMOTIVE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>83545G102</cusip>
    <value>342</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SONIC AUTOMOTIVE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>83545G102</cusip>
    <value>273</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>5500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPX CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>784635104</cusip>
    <value>291</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPX CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>784635104</cusip>
    <value>76</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STARBUCKS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>855244109</cusip>
    <value>7714</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70597</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>70597</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STARBUCKS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>855244109</cusip>
    <value>214</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1960</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1960</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STARBUCKS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>855244109</cusip>
    <value>328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>3000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STRYKER CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>863667101</cusip>
    <value>10299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42282</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>42282</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STRYKER CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>863667101</cusip>
    <value>292</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SUNPOWER CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>867652406</cusip>
    <value>244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SUPER MICRO COMPUTER, INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>86800U104</cusip>
    <value>387</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SVB FINANCIAL GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>78486Q101</cusip>
    <value>11400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23092</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>23092</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SVB FINANCIAL GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>78486Q101</cusip>
    <value>274</value>
    <shrsOrPrnAmt>
      <sshPrnamt>555</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>555</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SVB FINANCIAL GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>78486Q101</cusip>
    <value>296</value>
    <shrsOrPrnAmt>
      <sshPrnamt>600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SYKES ENTERPRISES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>871237103</cusip>
    <value>242</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SYKES ENTERPRISES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>871237103</cusip>
    <value>71</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SYNAPTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87157D109</cusip>
    <value>474</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SYNAPTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87157D109</cusip>
    <value>251</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1850</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1850</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SYNEOS HEALTH INC CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87166B102</cusip>
    <value>493</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SYNEOS HEALTH INC CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87166B102</cusip>
    <value>68</value>
    <shrsOrPrnAmt>
      <sshPrnamt>900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TERADYNE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>880770102</cusip>
    <value>243</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TESLA MOTORS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88160r101</cusip>
    <value>4589</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6870</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6870</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TEXAS INSTRUMENTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>882508104</cusip>
    <value>787</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4162</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4162</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>THE CHARLES SCHWAB CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>808513105</cusip>
    <value>934</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14336</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14336</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>THERMO FISHER SCIENTIFIC INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>883556102</cusip>
    <value>22788</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49932</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>49932</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>THERMO FISHER SCIENTIFIC INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>883556102</cusip>
    <value>568</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1245</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1245</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>THERMO FISHER SCIENTIFIC INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>883556102</cusip>
    <value>502</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRINSEO S.A.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>L9340P101</cusip>
    <value>478</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRITON INTERNATIONAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G9078f107</cusip>
    <value>396</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRITON INTERNATIONAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G9078f107</cusip>
    <value>143</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TTEC HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89854h102</cusip>
    <value>362</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TTEC HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89854h102</cusip>
    <value>226</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2250</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>U S BANCORP DEL NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>902973304</cusip>
    <value>257</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4650</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4650</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UFP INDUSTRIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>90278q108</cusip>
    <value>645</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UFP INDUSTRIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>90278q108</cusip>
    <value>165</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2170</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2170</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNION PACIFIC CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>907818108</cusip>
    <value>16292</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73919</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>73919</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNION PACIFIC CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>907818108</cusip>
    <value>374</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1695</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1695</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNION PACIFIC CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>907818108</cusip>
    <value>411</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1865</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1865</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNISYS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>909214306</cusip>
    <value>508</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>20000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNITED THERAPEUTICS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>91307C102</cusip>
    <value>464</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2775</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2775</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNITED THERAPEUTICS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>91307C102</cusip>
    <value>125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>750</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>750</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VALERO ENERGY CORP NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>91913y100</cusip>
    <value>6366</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88917</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>88917</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VALERO ENERGY CORP NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>91913y100</cusip>
    <value>198</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2765</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2765</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VERINT SYS INC COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92343X100</cusip>
    <value>227</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VERIZON COMMUNICATIONS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92343v104</cusip>
    <value>291</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5011</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5011</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VF CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>918204108</cusip>
    <value>4025</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50365</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>50365</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VF CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>918204108</cusip>
    <value>220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2750</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2750</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VISA INC COM CL A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92826c839</cusip>
    <value>2560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12089</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12089</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VMWARE INC CLASS A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>928563402</cusip>
    <value>4379</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29107</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>29107</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VMWARE INC CLASS A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>928563402</cusip>
    <value>391</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WABASH NATIONAL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>929566107</cusip>
    <value>320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>17000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WABASH NATIONAL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>929566107</cusip>
    <value>122</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>6500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WALT DISNEY CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>254687106</cusip>
    <value>15895</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86140</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>86140</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WALT DISNEY CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>254687106</cusip>
    <value>429</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2325</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2325</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WALT DISNEY CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>254687106</cusip>
    <value>369</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WASTE MANAGEMENT INC DEL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>94106L109</cusip>
    <value>258</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2001</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2001</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WELLS FARGO &amp; CO NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>949746101</cusip>
    <value>4545</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116321</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>116321</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WELLS FARGO &amp; CO NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>949746101</cusip>
    <value>126</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3230</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3230</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WHIRLPOOL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>963320106</cusip>
    <value>1930</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8758</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8758</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WILLIAMS-SONOMA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>969904101</cusip>
    <value>18</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WILLIAMS-SONOMA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>969904101</cusip>
    <value>358</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WYNDHAM HOTELS &amp; RESOR COM</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>98311A105</cusip>
    <value>802</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11490</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11490</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>XPO LOGISTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>983793100</cusip>
    <value>18</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>150</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>XPO LOGISTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>983793100</cusip>
    <value>185</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ZIMMER BIOMET HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>98956P102</cusip>
    <value>8362</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52237</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>52237</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ZIMMER BIOMET HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>98956P102</cusip>
    <value>210</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1310</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1310</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ZIMMER BIOMET HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>98956P102</cusip>
    <value>352</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iROBOT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>462726100</cusip>
    <value>305</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iROBOT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>462726100</cusip>
    <value>98</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ABB LTD (ADS)</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>000375204</cusip>
    <value>2824</value>
    <shrsOrPrnAmt>
      <sshPrnamt>92683</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>92683</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALIBABA GROUP HOLDING LTD</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>01609W102</cusip>
    <value>10074</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44431</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>44431</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALIBABA GROUP HOLDING LTD</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>01609W102</cusip>
    <value>229</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1010</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1010</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALIBABA GROUP HOLDING LTD</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>01609W102</cusip>
    <value>427</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1885</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1885</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BAIDU INC ADR F SPONSORED ADR</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>056752108</cusip>
    <value>3655</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16803</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>16803</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BAIDU INC ADR F SPONSORED ADR</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>056752108</cusip>
    <value>107</value>
    <shrsOrPrnAmt>
      <sshPrnamt>490</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>490</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BAIDU INC ADR F SPONSORED ADR</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>056752108</cusip>
    <value>320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1470</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1470</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BAYER A G - SPONSORED ADR</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>072730302</cusip>
    <value>792</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49975</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>49975</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BAYER A G - SPONSORED ADR</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>072730302</cusip>
    <value>2</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>150</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIAGEO PLC-SPONSORED ADR NEW</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>25243Q205</cusip>
    <value>5995</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36511</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>36511</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIAGEO PLC-SPONSORED ADR NEW</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>25243Q205</cusip>
    <value>148</value>
    <shrsOrPrnAmt>
      <sshPrnamt>900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>900</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DR REDDYS LABS ADR F SPONSORED</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>256135203</cusip>
    <value>474</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7720</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7720</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DR REDDYS LABS ADR F SPONSORED</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>256135203</cusip>
    <value>104</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HSBC HLDGS PLC ADR</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>404280406</cusip>
    <value>206</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7055</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>7055</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JD.COM, INC.</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>47215P106</cusip>
    <value>8413</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99767</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>99767</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JD.COM, INC.</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>47215P106</cusip>
    <value>191</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2260</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2260</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>JD.COM, INC.</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>47215P106</cusip>
    <value>626</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7420</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>7420</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>L.M. ERICSSON TELEPHON CO (ADS</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>294821608</cusip>
    <value>1235</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93631</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>93631</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LVMH MOET NEW ADR F 1 ADR REPS</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>502441306</cusip>
    <value>9866</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73882</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>73882</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LVMH MOET NEW ADR F 1 ADR REPS</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>502441306</cusip>
    <value>299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2240</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2240</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>LVMH MOET NEW ADR F 1 ADR REPS</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>502441306</cusip>
    <value>439</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3290</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>3290</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NETEASE.COM INC SPONSORED ADR</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>64110W102</cusip>
    <value>2511</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24316</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>24316</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NETEASE.COM INC SPONSORED ADR</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>64110W102</cusip>
    <value>372</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>3600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NEW ORIENTAL ED ADR F SPONSORE</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>647581107</cusip>
    <value>695</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49650</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>49650</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NICE LTD</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>653656108</cusip>
    <value>6468</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29674</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>29674</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NICE LTD</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>653656108</cusip>
    <value>160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>735</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>735</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NICE LTD</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>653656108</cusip>
    <value>480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NIDEC CORP SPONSORED ADR</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>654090109</cusip>
    <value>1111</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36550</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>36550</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NIDEC CORP SPONSORED ADR</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>654090109</cusip>
    <value>449</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14780</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>14780</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ROCHE HLDG LTD SPON ADRF 1 ADR</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>771195104</cusip>
    <value>6923</value>
    <shrsOrPrnAmt>
      <sshPrnamt>170643</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>170643</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ROCHE HLDG LTD SPON ADRF 1 ADR</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>771195104</cusip>
    <value>157</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3870</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3870</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>S A P AG ADR F SPONSORED ADR 1</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>803054204</cusip>
    <value>6288</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51210</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>51210</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>S A P AG ADR F SPONSORED ADR 1</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>803054204</cusip>
    <value>186</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1515</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1515</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>S K TELECOM LTD ADR F SPONSORE</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>78440P108</cusip>
    <value>315</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11580</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>11580</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SASOL LIMITED SPON ADR F SPONS</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>803866300</cusip>
    <value>229</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15775</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15775</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SIEMENS AG ADR EACH CNV INTO 1</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>826197501</cusip>
    <value>1933</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23490</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>23490</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TAIWAN SEMICONDUCTOR CO ADR</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>874039100</cusip>
    <value>25807</value>
    <shrsOrPrnAmt>
      <sshPrnamt>218188</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>218188</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TAIWAN SEMICONDUCTOR CO ADR</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>874039100</cusip>
    <value>577</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4880</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4880</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TAIWAN SEMICONDUCTOR CO ADR</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>874039100</cusip>
    <value>777</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6570</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>6570</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRIP.COM GROUP LTD SPONSORED A</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>89677q107</cusip>
    <value>899</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22697</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>22697</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNILEVER PLC SPON ADR NEW</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>904767704</cusip>
    <value>5642</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101054</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>101054</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNILEVER PLC SPON ADR NEW</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>904767704</cusip>
    <value>127</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2280</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2280</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNILEVER PLC SPON ADR NEW</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>904767704</cusip>
    <value>140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>01</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>2500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WEIBO INTERNATIONAL</nameOfIssuer>
    <titleOfClass>ADR</titleOfClass>
    <cusip>948596101</cusip>
    <value>697</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13805</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>13805</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>INVESCO QQQ TR UNIT SER 1</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>46090E103</cusip>
    <value>1008</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3160</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3160</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES RUSSELL 1000 GROWTH IN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>464287614</cusip>
    <value>908</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3736</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3736</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR RUSSELL 1000 RUSSEL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>464287622</cusip>
    <value>1440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6432</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6432</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR RUSSELL 2000 RUSSEL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>464287655</cusip>
    <value>563</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2546</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2546</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TRUST S&amp;P 500 S&amp;P 500</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>464287200</cusip>
    <value>976</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2453</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2453</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OAKMARK EQUITY AND INCOME FUND</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>413838772</cusip>
    <value>991</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29356</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>29356</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>S P D R S&amp;P 500 ETF TR EXPIRIN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>78462f103</cusip>
    <value>906</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2287</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2287</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD 500 INDEX ADMIRAL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>922908710</cusip>
    <value>349</value>
    <shrsOrPrnAmt>
      <sshPrnamt>950</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>950</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD CONSUMER DISCRETIONAR</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92204A108</cusip>
    <value>1115</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3775</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3775</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD CONSUMER STAPLES INDE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92204A207</cusip>
    <value>256</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1436</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1436</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD ENERGY ETF</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92204A306</cusip>
    <value>210</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3091</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3091</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD FINANCIALS INDEX FUND</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92204A405</cusip>
    <value>1028</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12163</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>12163</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD GROWTH ETF</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>922908736</cusip>
    <value>359</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1398</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1398</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD HEALTH CARE INDEX FUN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92204A504</cusip>
    <value>1291</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5645</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5645</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD INDEX FDS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>922908363</cusip>
    <value>443</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1215</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1215</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD INDUSTRIALS INDEX FUN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92204A603</cusip>
    <value>1315</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6947</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6947</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD INFORMATION TECHNOLOG</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92204a702</cusip>
    <value>3043</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8489</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8489</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD MATERIALS ETF</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92204A801</cusip>
    <value>357</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2065</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2065</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD TELECOMMUNICATIONS SE</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>92204A884</cusip>
    <value>525</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4041</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4041</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD TOTAL STOCK MKT</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>922908769</cusip>
    <value>415</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2010</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>2010</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VICTORY ESTABLISHED VALUE-A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>926464231</cusip>
    <value>201</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4231</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4231</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WASATCH ADVISORS FDS I SML CAP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>936772102</cusip>
    <value>1342</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22681</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>22681</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WASATCH CORE GROWTH FUND</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>936772201</cusip>
    <value>1662</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17202</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>17202</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES MSCI EMRG MKT FD EMERG</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>464287234</cusip>
    <value>371</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6961</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>6961</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR MSCI EAFE FD MSCI E</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>464287465</cusip>
    <value>330</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4352</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4352</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VANGUARD TOTAL INTL STOCK ET</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>921909768</cusip>
    <value>1161</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18517</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>18517</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
</informationTable>
