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
AKAMAI TECHNOLOGIES COM 00971T101 2,645 36,900 SH   DFND 1 36,900 0 0
ALPHABET- A CAP STK CL A 02079K305 26,405 22,437 SH   DFND 1 22,437 0 0
ALTICE USA INC- A CL A 02156K103 968 45,041 SH   DFND 1 45,041 0 0
AMERICAN AIRLINES GROUP INC-REGS COM 02376R102 1,809 57,883 SH   DFND 1 57,883 0 0
AT AND T INC COM 00206R102 44,722 1,426,093 SH   DFND 1 1,426,093 0 0
BIOGEN IDEC INC COM 09062X103 8,950 34,061 SH   DFND 1 34,061 0 0
BRISTOL-MYERS SQUIBB CO COM 110122108 798 16,717 SH   DFND 1 16,717 0 0
BUNGE LTD COM G16962105 6,247 104,400 SH   DFND 1 104,400 0 0
CELGENE CORP COM 151020104 11,259 119,349 SH   DFND 1 119,349 0 0
CIENA CORP COM NEW 171779309 7,341 196,600 SH   DFND 1 196,600 0 0
CISCO SYSTEMS INC COM 17275R102 1,091 16,773 SH   DFND 1 16,773 0 0
CITIGROUP COM NEW 172967424 2,266 31,342 SH   DFND 1 31,342 0 0
CREE COM 225447101 589 10,300 SH   DFND 1 10,300 0 0
CVS HEALTH COM 126650100 1,622 30,059 SH   DFND 1 30,059 0 0
DELTA AIR LINES COM NEW 247361702 3,473 104,006 SH   DFND 1 104,006 0 0
DR HORTON INC COM 23331A109 20,319 491,015 SH   DFND 1 491,015 0 0
EMERSON ELECTRIC CO COM 291011104 15,101 220,551 SH   DFND 1 220,551 0 0
EVERCORE-A RG REGISTERED SHS -A CLASS A 29977A105 11,981 131,677 SH   DFND 1 131,677 0 0
FACEBOOK INC-A CL A 30303M102 15,271 91,621 SH   DFND 1 91,621 0 0
FORD MOTOR COMPANY COM 345370860 15,973 1,819,278 SH   DFND 1 1,819,278 0 0
GENERAL ELECTRIC CO USD COM 369604103 5,101 1,030,457 SH   DFND 1 1,030,457 0 0
GENERAL MOTORS CO COM 37045V100 60,461 1,451,778 SH   DFND 1 1,451,778 0 0
GILEAD SCIENCES INC COM 375558103 7,545 108,799 SH   DFND 1 108,799 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 17,177 82,393 SH   DFND 1 82,393 0 0
HEXCEL CORPORATION COM 428291108 1,542 22,300 SH   DFND 1 22,300 0 0
HOULIHAN LOKEY INC CL A 441593100 12,430 271,094 SH   DFND 1 271,094 0 0
ILLUMINA INC COM 452327109 4,975 16,014 SH   DFND 1 16,014 0 0
INTEL CORP COM 458140100 2,304 36,249 SH   DFND 1 36,249 0 0
J.P.MORGAN CHASE EX CHASE MANHATTAN COM 46625H100 28,220 278,779 SH   DFND 1 278,779 0 0
KB HOME COM 48666K109 3,482 144,083 SH   DFND 1 144,083 0 0
LAZARD -A- SHS A G54050102 12,832 355,049 SH   DFND 1 355,049 0 0
LENNAR CORP -A- CL A 526057104 19,674 400,780 SH   DFND 1 400,780 0 0
M D C HOLDINGS COM 552676108 1,900 65,376 SH   DFND 1 65,376 0 0
MACYS INC. COM 55616P104 1,398 115,064 SH   DFND 1 115,064 0 0
MAXWELL TECH COM 577767106 244 54,600 SH   DFND 1 54,600 0 0
MERITAGE HOMES COM 59001A102 2,583 57,759 SH   DFND 1 57,759 0 0
METLIFE INC COM 59156R108 35,420 791,951 SH   DFND 1 791,951 0 0
MORGAN STANLEY COM NEW 617446448 4,134 97,976 SH   DFND 1 97,976 0 0
NETFLIX INC COM 64110L106 11,670 32,729 SH   DFND 1 32,729 0 0
NETWORK APPLIANCE INC COM 64110D104 8,251 103,800 SH   DFND 1 103,800 0 0
NIKE INC CLASS B COM NPV CL B 654106103 8,888 183,803 SH   DFND 1 183,803 0 0
NUCOR CORP COM 670346105 11,980 366,000 SH   DFND 1 366,000 0 0
ORACLE CORP COM COM 68389X105 71,874 1,338,199 SH   DFND 1 1,338,199 0 0
PFIZER INC COM 717081103 39,423 928,269 SH   DFND 1 928,269 0 0
PRUDENTIAL FINANCIAL INC COM 744320102 41,916 456,200 SH   DFND 1 456,200 0 0
PULTEGROUP COM 745867101 10,550 752,512 SH   DFND 1 752,512 0 0
REGENERON PHARMACEUTICALS INC COM 75886F107 16,130 39,282 SH   DFND 1 39,282 0 0
SALESFORCE.COM INC COM 79466L302 7,265 45,867 SH   DFND 1 45,867 0 0
SPRINT SERIES -1- COM 85207U105 7,018 1,241,938 SH   DFND 1 1,241,938 0 0
STEEL DYNAMICS INC COM 858119100 5,660 319,400 SH   DFND 1 319,400 0 0
TAYLOR MORRISON HOME CORP -A- CL A 87724P106 3,055 172,194 SH   DFND 1 172,194 0 0
TMOBILE US INC COM 872590104 21,041 304,495 SH   DFND 1 304,495 0 0
TOLL BROTHERS INC COM 889478103 7,877 195,263 SH   DFND 1 195,263 0 0
TRI POINTE HOMES INC COM 87265H109 2,386 188,692 SH   DFND 1 188,692 0 0
TWITTER INC COM 90184L102 11,504 318,500 SH   DFND 1 318,500 0 0
UNITED CONTINENTAL HOLDINGS INC COM 910047109 2,824 35,393 SH   DFND 1 35,393 0 0
UNITED STATES STEEL CORP COM 912909108 5,097 261,500 SH   DFND 1 261,500 0 0
UNITED THERAPEUTICS CORP COM 91307C102 2,328 19,830 SH   DFND 1 19,830 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 55,504 938,660 SH   DFND 1 938,660 0 0
VERTEX PHARMACEUTICALS INC COM 92532F100 7,186 35,579 SH   DFND 1 35,579 0 0
VOYA FINANCIAL INC COM 929089100 9,278 185,689 SH   DFND 1 185,689 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 1,540 24,331 SH   DFND 1 24,331 0 0
WENDY'S COMPANY (THE) COM 95058W100 5,660 316,400 SH   DFND 1 316,400 0 0
WHIRLPOOL CORP COM 963320106 4,106 30,900 SH   DFND 1 30,900 0 0