The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ADVANCE AUTO PARTS INC COM 00751Y106 2,357 14,800 SH   DFND 1,2 0 14,800 0
AETNA INC NEW COM 00817Y108 25,057 196,589 SH   DFND 1,2 0 196,589 0
ALLY FINL INC COM 02005N100 2,366 105,479 SH   DFND 1,2 0 105,479 0
AMAG PHARMACEUTICALS INC COM 00163U106 5,787 83,793 SH   DFND 1,2 0 83,793 0
AMAG PHARMACEUTICALS INC COM 00163U106 10,359 150,000 SH Call DFND 1,2 0 0 150,000
AMEDISYS INC COM 023436108 15,156 381,472 SH   DFND 1,2 0 381,472 0
AMERICAN ASSETS TR INC COM 024013104 1,931 49,248 SH   DFND 1,2 0 49,248 0
ASTORIA FINL CORP COM 046265104 6,251 453,267 SH   DFND 1,2 0 453,267 0
BANK AMER CORP COM 060505104 535 31,444 SH   DFND 1,2 0 31,444 0
BLACK KNIGHT FINL SVCS INC CL A 09214X100 957 31,000 SH   DFND 1,2 0 31,000 0
BLOOMIN BRANDS INC COM 094235108 610 28,561 SH   DFND 1,2 0 28,561 0
BOSTON PRIVATE FINL HLDGS IN COM 101119105 1,448 108,012 SH   DFND 1,2 0 108,012 0
BRIXMOR PPTY GROUP INC COM 11120U105 969 41,898 SH   DFND 1,2 0 41,898 0
CAPITAL SR LIVING CORP COM 140475104 1,171 47,793 SH   DFND 1,2 0 47,793 0
CBRE GROUP INC CL A 12504L109 2,432 65,728 SH   DFND 1,2 0 65,728 0
CERNER CORP COM 156782104 3,799 55,007 SH   DFND 1,2 0 55,007 0
CHESAPEAKE LODGING TR SH BEN INT 165240102 1,747 57,314 SH   DFND 1,2 0 57,314 0
CITIGROUP INC COM NEW 172967424 11,386 206,121 SH   DFND 1,2 0 206,121 0
COMMUNITY HEALTH SYS INC NEW COM 203668108 12,607 200,209 SH   DFND 1,2 0 200,209 0
CONCHO RES INC COM 20605P101 12,522 109,973 SH   DFND 1,2 0 109,973 0
CONTINENTAL RESOURCES INC COM 212015101 411 9,696 SH   DFND 1,2 0 9,696 0
CROWN CASTLE INTL CORP NEW COM 22822V101 1,926 23,985 SH   DFND 1,2 0 23,985 0
CUBESMART COM 229663109 1,888 81,514 SH   DFND 1,2 0 81,514 0
D R HORTON INC COM 23331A109 5,940 217,093 SH   DFND 1,2 0 217,093 0
DCT INDUSTRIAL TRUST INC COM NEW 233153204 2,013 64,033 SH   DFND 1,2 0 64,033 0
DISCOVER FINL SVCS COM 254709108 10,865 188,571 SH   DFND 1,2 0 188,571 0
DOLLAR GEN CORP NEW COM 256677105 2,138 27,500 SH   DFND 1,2 0 27,500 0
EDWARDS LIFESCIENCES CORP COM 28176E108 12,413 87,152 SH   DFND 1,2 0 87,152 0
ENERGEN CORP COM 29265N108 4,374 64,046 SH   DFND 1,2 0 64,046 0
EPR PPTYS COM SH BEN INT 26884U109 137 2,500 SH   DFND 1,2 0 2,500 0
EQT CORP COM 26884L109 11,686 143,671 SH   DFND 1,2 0 143,671 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 1,034 14,740 SH   DFND 1,2 0 14,740 0
ESSEX PPTY TR INC COM 297178105 2,085 9,814 SH   DFND 1,2 0 9,814 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 10,202 114,703 SH   DFND 1,2 0 114,703 0
FIFTH THIRD BANCORP COM 316773100 2,734 131,299 SH   DFND 1,2 0 131,299 0
FIRST HORIZON NATL CORP COM 320517105 3,678 234,712 SH   DFND 1,2 0 234,712 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 706 37,682 SH   DFND 1,2 0 37,682 0
FIRST NIAGARA FINL GP INC COM 33582V108 8,796 931,827 SH   DFND 1,2 0 931,827 0
FLAGSTAR BANCORP INC COM PAR .001 337930705 4,869 263,473 SH   DFND 1,2 0 263,473 0
FMC TECHNOLOGIES INC COM 30249U101 15,250 367,547 SH   DFND 1,2 0 367,547 0
FORUM ENERGY TECHNOLOGIES IN COM 34984V100 1,978 97,538 SH   DFND 1,2 0 97,538 0
FULTON FINL CORP PA COM 360271100 2,789 213,562 SH   DFND 1,2 0 213,562 0
GALLAGHER ARTHUR J & CO COM 363576109 759 16,041 SH   DFND 1,2 0 16,041 0
GENERAL GROWTH PPTYS INC NEW COM 370023103 2,762 107,653 SH   DFND 1,2 0 107,653 0
GULFPORT ENERGY CORP COM NEW 402635304 3,290 81,734 SH   DFND 1,2 0 81,734 0
HALLIBURTON CO COM 406216101 19,052 442,346 SH   DFND 1,2 0 442,346 0
HANCOCK HLDG CO COM 410120109 8,743 273,983 SH   DFND 1,2 0 273,983 0
HCA HOLDINGS INC COM 40412C101 4,175 46,020 SH   DFND 1,2 0 46,020 0
HEALTHCARE RLTY TR COM 421946104 2,690 115,657 SH   DFND 1,2 0 115,657 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 1,753 68,375 SH   DFND 1,2 0 68,375 0
HERTZ GLOBAL HOLDINGS INC COM 42805T105 1,259 69,500 SH   DFND 1,2 0 69,500 0
HOLOGIC INC COM 436440101 20,310 533,634 SH   DFND 1,2 0 533,634 0
HUDSON CITY BANCORP COM 443683107 9,931 1,005,193 SH   DFND 1,2 0 1,005,193 0
HUMANA INC COM 444859102 18,728 97,908 SH   DFND 1,2 0 97,908 0
HYATT HOTELS CORP COM CL A 448579102 3,049 53,787 SH   DFND 1,2 0 53,787 0
INSULET CORP COM 45784P101 10,738 346,550 SH   DFND 1,2 0 346,550 0
INVESCO LTD SHS G491BT108 2,383 63,576 SH   DFND 1,2 0 63,576 0
IPC HEALTHCARE INC COM 44984A105 6,093 110,000 SH   DFND 1,2 0 110,000 0
KEYCORP NEW COM 493267108 4,434 295,231 SH   DFND 1,2 0 295,231 0
LABORATORY CORP AMER HLDGS COM NEW 50540R409 26,964 222,435 SH   DFND 1,2 0 222,435 0
LAREDO PETROLEUM INC COM 516806106 3,165 251,609 SH   DFND 1,2 0 251,609 0
LEGG MASON INC COM 524901105 2,305 44,732 SH   DFND 1,2 0 44,732 0
LENNAR CORP CL A 526057104 1,068 20,928 SH   DFND 1,2 0 20,928 0
M/I HOMES INC COM 55305B101 2,366 95,924 SH   DFND 1,2 0 95,924 0
MCDONALDS CORP COM 580135101 5,400 56,800 SH   DFND 1,2 0 56,800 0
MGM RESORTS INTERNATIONAL COM 552953101 2,185 119,700 SH   DFND 1,2 0 119,700 0
MOLINA HEALTHCARE INC COM 60855R100 12,395 176,321 SH   DFND 1,2 0 176,321 0
NATIONAL HEALTH INVS INC COM 63633D104 2,900 46,544 SH   DFND 1,2 0 46,544 0
NATIONAL RETAIL PPTYS INC COM 637417106 1,358 38,785 SH   DFND 1,2 0 38,785 0
NATUS MEDICAL INC DEL COM 639050103 3,597 84,526 SH   DFND 1,2 0 84,526 0
NEW RESIDENTIAL INVT CORP COM NEW 64828T201 1,524 100,000 SH   DFND 1,2 0 100,000 0
NEWFIELD EXPL CO COM 651290108 6,690 185,220 SH   DFND 1,2 0 185,220 0
NOBLE ENERGY INC COM 655044105 8,953 209,768 SH   DFND 1,2 0 209,768 0
NORWEGIAN CRUISE LINE HLDGS SHS G66721104 322 5,748 SH   DFND 1,2 0 5,748 0
NUVASIVE INC COM 670704105 23,231 490,312 SH   DFND 1,2 0 490,312 0
NXSTAGE MEDICAL INC COM 67072V103 3,214 225,000 SH Call DFND 1,2 0 0 225,000
OCCIDENTAL PETE CORP DEL COM 674599105 13,655 175,575 SH   DFND 1,2 0 175,575 0
OM ASSET MGMT PLC SHS G67506108 3,549 199,492 SH   DFND 1,2 0 199,492 0
PACIRA PHARMACEUTICALS INC COM 695127100 7,072 100,000 SH   DFND 1,2 0 100,000 0
PANERA BREAD CO CL A 69840W108 2,990 17,107 SH   DFND 1,2 0 17,107 0
PARKWAY PPTYS INC COM 70159Q104 743 42,586 SH   DFND 1,2 0 42,586 0
PARSLEY ENERGY INC CL A 701877102 3,041 174,560 SH   DFND 1,2 0 174,560 0
PIONEER NAT RES CO COM 723787107 2,227 16,061 SH   DFND 1,2 0 16,061 0
POPULAR INC COM NEW 733174700 7,348 254,596 SH   DFND 1,2 0 254,596 0
POTLATCH CORP NEW COM 737630103 348 9,851 SH   DFND 1,2 0 9,851 0
PROSPERITY BANCSHARES INC COM 743606105 3,008 52,093 SH   DFND 1,2 0 52,093 0
QTS RLTY TR INC COM CL A 74736A103 844 23,162 SH   DFND 1,2 0 23,162 0
QUINTILES TRANSNATIO HLDGS I COM 74876Y101 21,057 290,000 SH   DFND 1,2 0 290,000 0
RCS CAP CORP COM CL A 74937W102 2,643 345,030 SH   DFND 1,2 0 345,030 0
RESTAURANT BRANDS INTL INC COM 76131D103 2,786 72,900 SH   DFND 1,2 0 72,900 0
RETAIL OPPORTUNITY INVTS COR COM 76131N101 2,414 154,568 SH   DFND 1,2 0 154,568 0
RICE ENERGY INC COM 762760106 8,343 400,527 SH   DFND 1,2 0 400,527 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 6,622 116,152 SH   DFND 1,2 0 116,152 0
SELECT MED HLDGS CORP COM 81619Q105 19,642 1,212,484 SH   DFND 1,2 0 1,212,484 0
SHIRE PLC SPONSORED ADR 82481R106 35,251 145,972 SH   DFND 1,2 0 145,972 0
SIGNATURE BK NEW YORK N Y COM 82669G104 76 522 SH   DFND 1,2 0 522 0
SIMON PPTY GROUP INC NEW COM 828806109 4,060 23,466 SH   DFND 1,2 0 23,466 0
SL GREEN RLTY CORP COM 78440X101 2,261 20,571 SH   DFND 1,2 0 20,571 0
SONIC CORP COM 835451105 837 29,053 SH   DFND 1,2 0 29,053 0
SOUTHWESTERN ENERGY CO COM 845467109 8,778 386,195 SH   DFND 1,2 0 386,195 0
SPDR SERIES TRUST S&P OILGAS EXP 78464A730 9,387 201,173 SH   DFND 1,2 0 201,173 0
SPIRIT RLTY CAP INC NEW COM 84860W102 8,386 867,246 SH   DFND 1,2 0 867,246 0
STARWOOD HOTELS&RESORTS WRLD COM 85590A401 3,664 45,186 SH   DFND 1,2 0 45,186 0
STERLING BANCORP DEL COM 85917A100 6,587 448,103 SH   DFND 1,2 0 448,103 0
STIFEL FINL CORP COM 860630102 697 12,075 SH   DFND 1,2 0 12,075 0
STRATEGIC HOTELS & RESORTS I COM 86272T106 758 62,500 SH   DFND 1,2 0 62,500 0
SUMMIT HOTEL PPTYS COM 866082100 1,859 142,893 SH   DFND 1,2 0 142,893 0
SUPERVALU INC COM 868536103 809 100,000 SH   DFND 1,2 0 100,000 0
SVB FINL GROUP COM 78486Q101 1,088 7,558 SH   DFND 1,2 0 7,558 0
SYNOVUS FINL CORP COM NEW 87161C501 2,992 97,070 SH   DFND 1,2 0 97,070 0
TAYLOR MORRISON HOME CORP CL A 87724P106 1,592 78,189 SH   DFND 1,2 0 78,189 0
TCF FINL CORP COM 872275102 6,516 392,299 SH   DFND 1,2 0 392,299 0
TEXAS CAPITAL BANCSHARES INC COM 88224Q107 7,128 114,519 SH   DFND 1,2 0 114,519 0
TEXAS ROADHOUSE INC COM 882681109 738 19,718 SH   DFND 1,2 0 19,718 0
THERMO FISHER SCIENTIFIC INC COM 883556102 30,851 237,757 SH   DFND 1,2 0 237,757 0
THORATEC CORP COM NEW 885175307 16,550 371,332 SH   DFND 1,2 0 371,332 0
TJX COS INC NEW COM 872540109 2,830 42,762 SH   DFND 1,2 0 42,762 0
TOTAL S A SPONSORED ADR 89151E109 9,615 195,544 SH   DFND 1,2 0 195,544 0
UMPQUA HLDGS CORP COM 904214103 10,511 584,296 SH   DFND 1,2 0 584,296 0
UNITED CMNTY BKS BLAIRSVLE G COM 90984P303 1,944 93,155 SH   DFND 1,2 0 93,155 0
UNIVERSAL HLTH SVCS INC CL B 913903100 16,708 117,580 SH   DFND 1,2 0 117,580 0
VALLEY NATL BANCORP COM 919794107 1,222 118,542 SH   DFND 1,2 0 118,542 0
VENTAS INC COM 92276F100 4,574 73,665 SH   DFND 1,2 0 73,665 0
VERTEX PHARMACEUTICALS INC COM 92532F100 8,334 67,494 SH   DFND 1,2 0 67,494 0
VISA INC COM CL A 92826C839 2,767 41,200 SH   DFND 1,2 0 41,200 0
VITAMIN SHOPPE INC COM 92849E101 1,230 33,000 SH   DFND 1,2 0 33,000 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 6,680 79,115 SH   DFND 1,2 0 79,115 0
WEATHERFORD INTL PLC ORD SHS G48833100 2,950 240,385 SH   DFND 1,2 0 240,385 0
WELLS FARGO & CO NEW COM 949746101 4,648 82,648 SH   DFND 1,2 0 82,648 0
WESTERN ALLIANCE BANCORP COM 957638109 4,072 120,622 SH   DFND 1,2 0 120,622 0
WINGSTOP INC COM 974155103 43 1,500 SH   DFND 1,2 0 1,500 0
WINTRUST FINL CORP COM 97650W108 6,354 119,026 SH   DFND 1,2 0 119,026 0
WUXI PHARMATECH CAYMAN INC SPONS ADR SHS 929352102 8,014 189,645 SH   DFND 1,2 0 189,645 0
WYNN RESORTS LTD COM 983134107 184 1,860 SH   DFND 1,2 0 1,860 0
ZIONS BANCORPORATION COM 989701107 10,001 315,150 SH   DFND 1,2 0 315,150 0
ZOETIS INC CL A 98978V103 10,672 221,329 SH   DFND 1,2 0 221,329 0