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    <nameOfIssuer>RPX CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74972G103</cusip>
    <value>489</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35078</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>35078</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RSP PERMIAN INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74978Q105</cusip>
    <value>10633</value>
    <shrsOrPrnAmt>
      <sshPrnamt>329491</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>329491</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RTI SURGICAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74975N105</cusip>
    <value>84</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14393</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>14393</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RUDOLPH TECHNOLOGIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>781270103</cusip>
    <value>450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19674</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>19674</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RUTHS HOSPITALITY GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>783332109</cusip>
    <value>409</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18798</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>18798</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RYDER SYS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>783549108</cusip>
    <value>2118</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29421</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>29421</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>S&amp;P GLOBAL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>78409V104</cusip>
    <value>15984</value>
    <shrsOrPrnAmt>
      <sshPrnamt>109488</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>109488</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SAFE BULKERS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>Y7388L103</cusip>
    <value>170</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>74100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SAGE THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>78667J108</cusip>
    <value>252</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3163</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>3163</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SANCHEZ ENERGY CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>79970Y105</cusip>
    <value>179</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24895</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>24895</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SANDERSON FARMS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>800013104</cusip>
    <value>486</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>4200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SANDY SPRING BANCORP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>800363103</cusip>
    <value>262</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6434</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>6434</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SANFILIPPO JOHN B &amp; SON INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>800422107</cusip>
    <value>776</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12297</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>12297</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SANMINA CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>801056102</cusip>
    <value>1074</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28193</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>28193</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SAP SE</nameOfIssuer>
    <titleOfClass>SPON ADR</titleOfClass>
    <cusip>803054204</cusip>
    <value>1114</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10645</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>10645</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SAPIENS INTL CORP N V</nameOfIssuer>
    <titleOfClass>SHS NEW</titleOfClass>
    <cusip>N7716A151</cusip>
    <value>151</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13483</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>13483</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SAREPTA THERAPEUTICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>803607100</cusip>
    <value>466</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13815</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>13815</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SBA COMMUNICATIONS CORP NEW</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>78410G104</cusip>
    <value>796</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5902</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>5902</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCANA CORP NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>80589M102</cusip>
    <value>7399</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110414</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>110414</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCHEIN HENRY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>806407102</cusip>
    <value>1682</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9188</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>9188</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCHLUMBERGER LTD</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>806857108</cusip>
    <value>5070</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77006</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>77006</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCHNITZER STL INDS</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>806882106</cusip>
    <value>1186</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47048</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>47048</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCHOLASTIC CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>807066105</cusip>
    <value>243</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5577</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>5577</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCHWAB CHARLES CORP NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>808513105</cusip>
    <value>1426</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33198</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>33198</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCICLONE PHARMACEUTICALS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>80862K104</cusip>
    <value>978</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88933</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>88933</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCIENCE APPLICATNS INTL CP N</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>808625107</cusip>
    <value>3800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54746</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>54746</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCIENTIFIC GAMES CORP</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>80874P109</cusip>
    <value>2194</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84068</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>84068</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCOTTS MIRACLE GRO CO</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>810186106</cusip>
    <value>2270</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25374</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>25374</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCRIPPS E W CO OHIO</nameOfIssuer>
    <titleOfClass>CL A NEW</titleOfClass>
    <cusip>811054402</cusip>
    <value>246</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13790</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>13790</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SCRIPPS NETWORKS INTERACT IN</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>811065101</cusip>
    <value>652</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9541</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>9541</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SEABRIDGE GOLD INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>811916105</cusip>
    <value>194</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17982</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>17982</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SEADRILL LIMITED</nameOfIssuer>
    <titleOfClass>SHS</titleOfClass>
    <cusip>G7945E105</cusip>
    <value>258</value>
    <shrsOrPrnAmt>
      <sshPrnamt>714206</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>714206</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SEASPINE HLDGS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>81255T108</cusip>
    <value>128</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>11100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SEATTLE GENETICS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>812578102</cusip>
    <value>513</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9916</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>9916</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SELECT COMFORT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>81616X103</cusip>
    <value>2544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71682</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>71682</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
    <titleOfClass>SBI CONS STPLS</titleOfClass>
    <cusip>81369Y308</cusip>
    <value>6684</value>
    <shrsOrPrnAmt>
      <sshPrnamt>121658</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>121658</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
    <titleOfClass>SBI CONS DISCR</titleOfClass>
    <cusip>81369Y407</cusip>
    <value>6960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77654</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>77654</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
    <titleOfClass>SBI INT-INDS</titleOfClass>
    <cusip>81369Y704</cusip>
    <value>295</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4330</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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      <Sole>0</Sole>
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    <nameOfIssuer>SERVICEMASTER GLOBAL HLDGS I</nameOfIssuer>
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    <nameOfIssuer>SHAKE SHACK INC</nameOfIssuer>
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    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>11695</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SOUTHWESTERN ENERGY CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>845467109</cusip>
    <value>6272</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1031629</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1031629</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SP PLUS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>78469C103</cusip>
    <value>317</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10367</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>10367</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR DOW JONES INDL AVRG ETF</nameOfIssuer>
    <titleOfClass>UT SER 1</titleOfClass>
    <cusip>78467X109</cusip>
    <value>9937</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR DOW JONES INDL AVRG ETF</nameOfIssuer>
    <titleOfClass>UT SER 1</titleOfClass>
    <cusip>78467X109</cusip>
    <value>5310</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>24900</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SPDR GOLD TRUST</nameOfIssuer>
    <titleOfClass>GOLD SHS</titleOfClass>
    <cusip>78463V107</cusip>
    <value>9878</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR GOLD TRUST</nameOfIssuer>
    <titleOfClass>GOLD SHS</titleOfClass>
    <cusip>78463V107</cusip>
    <value>8202</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>69500</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SPDR INDEX SHS FDS</nameOfIssuer>
    <titleOfClass>EURO STOXX 50</titleOfClass>
    <cusip>78463X202</cusip>
    <value>1619</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42072</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>42072</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SPDR S&amp;P 500 ETF TR</nameOfIssuer>
    <titleOfClass>TR UNIT</titleOfClass>
    <cusip>78462F103</cusip>
    <value>14484</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR S&amp;P 500 ETF TR</nameOfIssuer>
    <titleOfClass>TR UNIT</titleOfClass>
    <cusip>78462F103</cusip>
    <value>78706</value>
    <shrsOrPrnAmt>
      <sshPrnamt>325500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>325500</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SPDR S&amp;P MIDCAP 400 ETF TR</nameOfIssuer>
    <titleOfClass>UTSER1 S&amp;PDCRP</titleOfClass>
    <cusip>78467Y107</cusip>
    <value>2755</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8674</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>8674</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SPDR SERIES TRUST</nameOfIssuer>
    <titleOfClass>S&amp;P OILGAS EXP</titleOfClass>
    <cusip>78464A730</cusip>
    <value>1229</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38503</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>38503</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SPDR SERIES TRUST</nameOfIssuer>
    <titleOfClass>S&amp;P HOMEBUILD</titleOfClass>
    <cusip>78464A888</cusip>
    <value>1816</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47141</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>47141</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SPECTRANETICS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>84760C107</cusip>
    <value>578</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15064</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>15064</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPECTRUM BRANDS HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>84763R101</cusip>
    <value>4062</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32484</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>32484</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPIRIT AEROSYSTEMS HLDGS INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>848574109</cusip>
    <value>5572</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96166</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>96166</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SPIRIT RLTY CAP INC NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>84860W102</cusip>
    <value>428</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57761</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>57761</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPRINT CORP</nameOfIssuer>
    <titleOfClass>COM SER 1</titleOfClass>
    <cusip>85207U105</cusip>
    <value>1788</value>
    <shrsOrPrnAmt>
      <sshPrnamt>217783</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>217783</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPROUTS FMRS MKT INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>85208M102</cusip>
    <value>1030</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45426</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>45426</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SQUARE INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>852234103</cusip>
    <value>2832</value>
    <shrsOrPrnAmt>
      <sshPrnamt>120701</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>120701</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SS&amp;C TECHNOLOGIES HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>78467J100</cusip>
    <value>2481</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64587</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>64587</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ST JOE CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>790148100</cusip>
    <value>247</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13170</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>13170</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STAG INDL INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>85254J102</cusip>
    <value>538</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>19500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STAGE STORES INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>85254C305</cusip>
    <value>83</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39790</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>39790</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STAMPS COM INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>852857200</cusip>
    <value>6115</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39482</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>39482</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STANLEY BLACK &amp; DECKER INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>854502101</cusip>
    <value>10227</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72674</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>72674</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>STAPLES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>855030102</cusip>
    <value>198</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>19700</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>STARBUCKS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>855244109</cusip>
    <value>247</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4241</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>4241</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STARWOOD PPTY TR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>85571B105</cusip>
    <value>1003</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44790</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>44790</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STATE STR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>857477103</cusip>
    <value>4436</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49436</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>49436</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STEIN MART INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>858375108</cusip>
    <value>98</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57764</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>57764</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STEPAN CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>858586100</cusip>
    <value>352</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4045</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>4045</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STERICYCLE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>858912108</cusip>
    <value>2502</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32783</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>32783</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STERLING BANCORP DEL</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>85917A100</cusip>
    <value>1384</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59510</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>59510</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STERLING CONSTRUCTION CO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>859241101</cusip>
    <value>179</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>13700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STEWART INFORMATION SVCS COR</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>860372101</cusip>
    <value>364</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8024</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>8024</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STIFEL FINL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>860630102</cusip>
    <value>269</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5843</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>5843</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>STMICROELECTRONICS N V</nameOfIssuer>
    <titleOfClass>NY REGISTRY</titleOfClass>
    <cusip>861012102</cusip>
    <value>1036</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72014</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
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      <Sole>0</Sole>
      <Shared>36941</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TOTAL S A</nameOfIssuer>
    <titleOfClass>SPONSORED ADR</titleOfClass>
    <cusip>89151E109</cusip>
    <value>399</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8056</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>8056</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TOTAL SYS SVCS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>891906109</cusip>
    <value>8252</value>
    <shrsOrPrnAmt>
      <sshPrnamt>141663</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>141663</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRACTOR SUPPLY CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>892356106</cusip>
    <value>8171</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150735</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>150735</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRANSENTERIX INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>89366M201</cusip>
    <value>39</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54880</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>54880</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRANSOCEAN LTD</nameOfIssuer>
    <titleOfClass>REG SHS</titleOfClass>
    <cusip>H8817H100</cusip>
    <value>10024</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1217934</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>1217934</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRAVELERS COMPANIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89417E109</cusip>
    <value>7396</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58453</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>58453</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TREEHOUSE FOODS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89469A104</cusip>
    <value>840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10282</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>10282</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TREX CO INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89531P105</cusip>
    <value>498</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7358</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>7358</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRIBUNE MEDIA CO</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>896047503</cusip>
    <value>219</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5371</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>5371</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRINET GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>896288107</cusip>
    <value>433</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13228</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>13228</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRINITY INDS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>896522109</cusip>
    <value>2678</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95537</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>95537</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRIUMPH GROUP INC NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>896818101</cusip>
    <value>2423</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76693</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>76693</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRIVAGO N V</nameOfIssuer>
    <titleOfClass>SPON ADS A SHS</titleOfClass>
    <cusip>89686D105</cusip>
    <value>1318</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55694</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>55694</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRONC INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89703P107</cusip>
    <value>200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15522</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>15522</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRONOX LTD</nameOfIssuer>
    <titleOfClass>SHS CL A</titleOfClass>
    <cusip>Q9235V101</cusip>
    <value>1095</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72426</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>72426</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRUEBLUE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89785X101</cusip>
    <value>437</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16503</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>16503</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRUECAR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89785L107</cusip>
    <value>874</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43860</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>43860</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TRUSTMARK CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>898402102</cusip>
    <value>251</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7794</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>7794</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TTM TECHNOLOGIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87305R109</cusip>
    <value>1041</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59965</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>59965</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TUESDAY MORNING CORP</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>899035505</cusip>
    <value>98</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51532</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>51532</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TUPPERWARE BRANDS CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>899896104</cusip>
    <value>1915</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27268</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>27268</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TURQUOISE HILL RES LTD</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>900435108</cusip>
    <value>81</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30425</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>30425</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TWENTY FIRST CENTY FOX INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>90130A101</cusip>
    <value>3438</value>
    <shrsOrPrnAmt>
      <sshPrnamt>121314</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>121314</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TWENTY FIRST CENTY FOX INC</nameOfIssuer>
    <titleOfClass>CL B</titleOfClass>
    <cusip>90130A200</cusip>
    <value>4345</value>
    <shrsOrPrnAmt>
      <sshPrnamt>155904</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>155904</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TWITTER INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>90184L102</cusip>
    <value>1424</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79660</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>79660</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TWO HBRS INVT CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>90187B101</cusip>
    <value>2129</value>
    <shrsOrPrnAmt>
      <sshPrnamt>214818</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>214818</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TYSON FOODS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>902494103</cusip>
    <value>2208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35249</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>35249</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>U S CONCRETE INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>90333L201</cusip>
    <value>956</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12166</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>12166</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>U S G CORP</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>903293405</cusip>
    <value>3429</value>
    <shrsOrPrnAmt>
      <sshPrnamt>118155</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>118155</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UBIQUITI NETWORKS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>90347A100</cusip>
    <value>347</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6686</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>6686</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UDR INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>902653104</cusip>
    <value>1764</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45262</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>45262</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UGI CORP NEW</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>902681105</cusip>
    <value>3556</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73460</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>73460</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ULTA BEAUTY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>90384S303</cusip>
    <value>15063</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52423</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>52423</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNILEVER N V</nameOfIssuer>
    <titleOfClass>N Y SHS NEW</titleOfClass>
    <cusip>904784709</cusip>
    <value>274</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4949</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>4949</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNILEVER PLC</nameOfIssuer>
    <titleOfClass>SPON ADR NEW</titleOfClass>
    <cusip>904767704</cusip>
    <value>1166</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21551</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>21551</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNION PAC CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>907818108</cusip>
    <value>41101</value>
    <shrsOrPrnAmt>
      <sshPrnamt>377382</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>377382</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNITED CONTL HLDGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>910047109</cusip>
    <value>17229</value>
    <shrsOrPrnAmt>
      <sshPrnamt>228957</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>228957</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>UNITED FIRE GROUP INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>910340108</cusip>
    <value>236</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5362</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <otherManager>1</otherManager>
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