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
ARC DOCUMENT SOLUTIONS INC COM 00191G103 502 134,475 SH   DFND 1,2,3 0 134,475 0
ABBOTT LABORATORIES COM 002824100 1,627 38,475 SH   DFND 1,2,3 0 38,475 0
ACTUANT CORP CL A 00508X203 1,559 67,120 SH   DFND 1,2,3 0 67,120 0
AECOM COM 00766T100 1,451 48,827 SH   DFND 1,2,3 0 48,827 0
AETNA INC COM 00817Y108 6,118 53,000 SH   DFND 1,2,3 0 53,000 0
ALPHABET INC CAP STK CL A CL A 02079K305 751 935 SH   DFND 1,2,3 0 935 0
AMERICAN AIRLINES GROUP INC COM 02376R102 3,375 92,200 SH   DFND 1,2,3 0 92,200 0
AMERICAN INTERNATIONAL GROUP COM NEW 026874784 2,186 36,850 SH   DFND 1,2,3 0 36,850 0
ANADARKO PETROLEUM CORP COM 032511107 5,566 87,860 SH   DFND 1,2,3 0 87,860 0
APACHE CORP COM 037411105 3,030 47,450 SH   DFND 1,2,3 0 47,450 0
APOLLO GLOBAL MANAGEMENT CLA SHS 037612306 784 43,700 SH   DFND 1,2,3 0 43,700 0
ARGAN INC COM 04010E109 283 4,789 SH   DFND 1,2,3 0 4,789 0
ASSOCIATED BANC-CORP COM 045487105 1,783 91,050 SH   DFND 1,2,3 0 91,050 0
ASSURANT INC COM 04621X108 8,505 92,200 SH   DFND 1,2,3 0 92,200 0
AVNET INC COM 053807103 2,546 62,025 SH   DFND 1,2,3 0 62,025 0
BP PLC SPONSORED ADR 055622104 1,841 52,382 SH   DFND 1,2,3 0 52,382 0
BANK OF AMERICA CORP COM 060505104 2,987 190,900 SH   DFND 1,2,3 0 190,900 0
BARRICK GOLD CORP COM 067901108 2,279 128,640 SH   DFND 1,2,3 0 128,640 0
BROOKDALE SENIOR LIVING INC COM 112463104 1,704 97,675 SH   DFND 1,2,3 0 97,675 0
CNO FINANCIAL GROUP COM 12621E103 1,102 72,189 SH   DFND 1,2,3 0 72,189 0
CVR PARTNERS LP COM 126633106 2,664 502,664 SH   DFND 1,2,3 0 502,664 0
CARPENTER TECHNOLOGY COM 144285103 550 13,336 SH   DFND 1,2,3 0 13,336 0
CATCHMARK TIMBER TR INC CL A 14912Y202 163 13,960 SH   DFND 1,2,3 0 13,960 0
CEMPRA INC COM 15130J109 1,055 43,610 SH   DFND 1,2,3 0 43,610 0
CHART INDUSTRIES INC COM 16115Q308 1,830 55,750 SH   DFND 1,2,3 0 55,750 0
CISCO SYSTEMS INC COM 17275R102 2,049 64,600 SH   DFND 1,2,3 0 64,600 0
CITIGROUP INC COM 172967424 8,565 181,366 SH   DFND 1,2,3 0 181,366 0
COCA COLA CO COM 191216100 1,206 28,500 SH   DFND 1,2,3 0 28,500 0
COLUMBUS MCKINNON CORP/NY COM 199333105 852 47,789 SH   DFND 1,2,3 0 47,789 0
COMCAST CORP CL A 20030N101 5,917 89,200 SH   DFND 1,2,3 0 89,200 0
CORNING INC COM 219350105 5,654 239,105 SH   DFND 1,2,3 0 239,105 0
COVANTA HOLDING CORP COM 22282E102 3,104 201,706 SH   DFND 1,2,3 0 201,706 0
CUBIC CORP COM 229669106 1,467 31,350 SH   DFND 1,2,3 0 31,350 0
DR HORTON INC COM 23331A109 3,146 104,200 SH   DFND 1,2,3 0 104,200 0
DANA HOLDING CORP COM 235825205 984 63,165 SH   DFND 1,2,3 0 63,165 0
DELTA AIR LINES INC COM NEW 247361702 3,874 98,440 SH   DFND 1,2,3 0 98,440 0
DEVON ENERGY CORP COM 25179M103 2,421 54,900 SH   DFND 1,2,3 0 54,900 0
DIAMONDROCK HOSPITALITY CO COM 252784301 305 33,571 SH   DFND 1,2,3 0 33,571 0
DIODES INC COM 254543101 1,206 56,544 SH   DFND 1,2,3 0 56,544 0
DOVER CORP COM 260003108 1,852 25,150 SH   DFND 1,2,3 0 25,150 0
DOW CHEMICAL CORP COM 260543103 3,292 63,530 SH   DFND 1,2,3 0 63,530 0
ENBRIDGE ENERGY PARTNERS LP COM 29250R106 1,188 46,740 SH   DFND 1,2,3 0 46,740 0
ENOVA INTERNATIONAL INC-W/I COM 29357K103 155 16,025 SH   DFND 1,2,3 0 16,025 0
ESSENDANT INC COM 296689102 880 42,900 SH   DFND 1,2,3 0 42,900 0
EZCORP INC CL A 302301106 454 41,100 SH   DFND 1,2,3 0 41,100 0
EXXON MOBIL CORP COM 30231G102 1,409 16,150 SH   DFND 1,2,3 0 16,150 0
FEDEX CORPORATION COM 31428X106 4,716 27,000 SH   DFND 1,2,3 0 27,000 0
FIRST CITIZENS BCSHS CL A 31946M103 747 2,545 SH   DFND 1,2,3 0 2,545 0
FIRST HORIZON NATIONAL CORP COM 320517105 802 52,700 SH   DFND 1,2,3 0 52,700 0
FIRST MIDWEST BANCORP INC/IL COM 320867104 1,271 65,675 SH   DFND 1,2,3 0 65,675 0
FORD MOTOR COMPANY COM 345370860 1,608 133,275 SH   DFND 1,2,3 0 133,275 0
FRANKLIN RESOURCES INC COM 354613101 2,256 63,450 SH   DFND 1,2,3 0 63,450 0
FUELCELL ENERGY INC COM NEW 35952H502 668 123,394 SH   DFND 1,2,3 0 123,394 0
GENERAL CABLE CORP COM 369300108 1,003 66,975 SH   DFND 1,2,3 0 66,975 0
GENERAL MOTORS CO COM 37045V100 1,874 59,000 SH   DFND 1,2,3 0 59,000 0
GENWORTH FINANCIAL INC CL A 37247D106 310 62,650 SH   DFND 1,2,3 0 62,650 0
GIBRALTAR INDUSTRIES INC COM 374689107 487 13,131 SH   DFND 1,2,3 0 13,131 0
GOLDMAN SACHS GROUP INC COM 38141G104 2,177 13,500 SH   DFND 1,2,3 0 13,500 0
GOVERNMENT PROPERTIES INCOME COM SHS BEN INT 38376A103 980 43,350 SH   DFND 1,2,3 0 43,350 0
GRANITE REAL ESTATE INVESTMENT TRST UNIT 387437114 1,030 33,600 SH   DFND 1,2,3 0 33,600 0
GREAT PLAINS ENERGY INC COM 391164100 493 18,100 SH   DFND 1,2,3 0 18,100 0
HP INC COM 40434L105 2,075 133,655 SH   DFND 1,2,3 0 133,655 0
HARSCO CORP COM 415864107 489 49,300 SH   DFND 1,2,3 0 49,300 0
HEALTH INSURANCE INNOVATION COM CL A 42225K106 78 14,859 SH   DFND 1,2,3 0 14,859 0
HEWLETT PACKARD ENTERPRISE C COM 42824C109 3,040 133,655 SH   DFND 1,2,3 0 133,655 0
ICONIX BRAND GROUP INC COM 451055107 756 93,187 SH   DFND 1,2,3 0 93,187 0
INSIGHT ENTERPRISES INC COM 45765U103 1,473 45,278 SH   DFND 1,2,3 0 45,278 0
INORG CHEM NEC COM 45768S105 1,072 17,631 SH   DFND 1,2,3 0 17,631 0
INTEL CORP COM 458140100 1,603 42,475 SH   DFND 1,2,3 0 42,475 0
INTERPUBLIC GROUP COS INC COM 460690100 1,053 47,150 SH   DFND 1,2,3 0 47,150 0
JPMORGAN CHASE & COMPANY COM 46625H100 7,940 119,250 SH   DFND 1,2,3 0 119,250 0
JIVE SOFTWARE INC COM 47760A108 428 100,553 SH   DFND 1,2,3 0 100,553 0
JOHNSON & JOHNSON COM 478160104 1,303 11,035 SH   DFND 1,2,3 0 11,035 0
JOY GLOBAL INC COM 481165108 1,738 62,655 SH   DFND 1,2,3 0 62,655 0
KBR INC COM 48242W106 2,134 141,059 SH   DFND 1,2,3 0 141,059 0
KAISER ALUMINUM CORP COM 483007704 562 6,500 SH   DFND 1,2,3 0 6,500 0
LAMAR ADVERTISING CO CL A 512816109 1,902 29,125 SH   DFND 1,2,3 0 29,125 0
LENNAR CORP CL A 526057104 2,117 50,000 SH   DFND 1,2,3 0 50,000 0
LEXMARK INTL GROUP INC CL A 529771107 699 17,499 SH   DFND 1,2,3 0 17,499 0
LINCOLN NATIONAL CORP INDIANA COM 534187109 6,793 144,600 SH   DFND 1,2,3 0 144,600 0
LINKEDIN CORP CL A 53578A108 1,116 5,840 SH   DFND 1,2,3 0 5,840 0
WILLIAM LYON HOMES CL A NEW 552074700 534 28,800 SH   DFND 1,2,3 0 28,800 0
MASONITE INTERNATIONAL CORP COM 575385109 1,605 25,831 SH   DFND 1,2,3 0 25,831 0
MAXWELL TECHNOLOGIES INC COM 577767106 79 15,321 SH   DFND 1,2,3 0 15,321 0
MERCER INTL INC COM 588056101 165 19,510 SH   DFND 1,2,3 0 19,510 0
METLIFE INC COM 59156R108 2,001 45,050 SH   DFND 1,2,3 0 45,050 0
MICROSOFT CORP COM 594918104 9,992 173,475 SH   DFND 1,2,3 0 173,475 0
MILLER INDUSTRIES INC/TENN COM 600551204 250 10,973 SH   DFND 1,2,3 0 10,973 0
MOELIS & CO CL A 60786M105 5,871 218,337 SH   DFND 1,2,3 0 218,337 0
MORGAN STANLEY COM 617446448 2,779 86,700 SH   DFND 1,2,3 0 86,700 0
NRG ENERGY INC COM NEW 629377508 474 42,341 SH   DFND 1,2,3 0 42,341 0
NELNET INC CL A 64031N108 213 5,300 SH   DFND 1,2,3 0 5,300 0
NEW SR INVT GROUP INC COM 648691103 2,892 250,655 SH   DFND 1,2,3 0 250,655 0
NEWS CORP CL A 65249B109 1,023 73,225 SH   DFND 1,2,3 0 73,225 0
NEWS CORP CL B 65249B208 729 51,275 SH   DFND 1,2,3 0 51,275 0
NOVAGOLD RESOURCES INC COM NEW 66987E206 611 109,110 SH   DFND 1,2,3 0 109,110 0
OCI PARTNERS LP COM UNIT REP LP 67091N108 387 65,496 SH   DFND 1,2,3 0 65,496 0
OCCIDENTAL PETROLEUM COM 674599105 4,146 56,866 SH   DFND 1,2,3 0 56,866 0
OMNICOM GROUP INC COM COM 681919106 2,031 23,900 SH   DFND 1,2,3 0 23,900 0
ON SEMICONDUCTOR CORPORATION COM 682189105 3,867 313,944 SH   DFND 1,2,3 0 313,944 0
ORACLE CORP COM 68389X105 9,254 235,600 SH   DFND 1,2,3 0 235,600 0
OWENS & MINOR INC COM 690732102 1,171 33,746 SH   DFND 1,2,3 0 33,746 0
PARK STERLING CORP COM 70086Y105 718 88,466 SH   DFND 1,2,3 0 88,466 0
PARKER HANNIFIN CORP COM 701094104 1,697 13,525 SH   DFND 1,2,3 0 13,525 0
PFIZER INC COM 717081103 7,298 215,491 SH   DFND 1,2,3 0 215,491 0
PIONEER NATURAL RESOURCES CO COM 723787107 4,975 26,800 SH   DFND 1,2,3 0 26,800 0
PORTLAND GENERAL ELECTRIC COM 736508847 434 10,200 SH   DFND 1,2,3 0 10,200 0
REINSURANCE GROUP OF AMERICA COM NEW 759351604 1,079 10,000 SH   DFND 1,2,3 0 10,000 0
RENT-A-CENTER INC COM 76009N100 923 73,050 SH   DFND 1,2,3 0 73,050 0
ROYAL DUTCH SHELL PLC SPONSORED ADR 780259206 3,156 63,048 SH   DFND 1,2,3 0 63,048 0
SPDR GOLD TRUST SHS 78463V107 27,515 219,000 SH   DFND 1,2,3 0 219,000 0
SCHNITZER STEEL INDS INC CL A 806882106 902 43,175 SH   DFND 1,2,3 0 43,175 0
SCIENCE APPLICATIONS INTE COM 808625107 874 12,600 SH   DFND 1,2,3 0 12,600 0
STAPLES INC COM 855030102 1,886 220,653 SH   DFND 1,2,3 0 220,653 0
STATE STR CORP COM 857477103 1,559 22,400 SH   DFND 1,2,3 0 22,400 0
STONERIDGE INC COM 86183P102 993 53,983 SH   DFND 1,2,3 0 53,983 0
SUPERIOR ENERGY SERVICES INC COM 868157108 2,058 114,975 SH   DFND 1,2,3 0 114,975 0
SYNOVUS FINANCIAL CORP COM 87161C501 1,497 46,046 SH   DFND 1,2,3 0 46,046 0
TCF FINANCIAL CORP COM 872275102 868 59,825 SH   DFND 1,2,3 0 59,825 0
TENET HEALTHCARE CORP COM NEW 88033G407 220 9,725 SH   DFND 1,2,3 0 9,725 0
TEREX CORP COM 880779103 4,589 180,633 SH   DFND 1,2,3 0 180,633 0
TETRA TECH INC COM 88162G103 725 20,456 SH   DFND 1,2,3 0 20,456 0
TRAVELERS COS INC/THE COM 89417E109 4,925 43,000 SH   DFND 1,2,3 0 43,000 0
TRIBUNE MEDIA CO CL A 896047503 3,230 88,445 SH   DFND 1,2,3 0 88,445 0
TRIMAS CORP COM NEW 896215209 964 51,825 SH   DFND 1,2,3 0 51,825 0
TRIPLE-S MANAGEMENT CORP CL B 896749108 1,581 72,125 SH   DFND 1,2,3 0 72,125 0
TUPPERWARE CORP COM 899896104 882 13,500 SH   DFND 1,2,3 0 13,500 0
UFP TECHNOLOGIES INC COM 902673102 263 9,961 SH   DFND 1,2,3 0 9,961 0
UAL CORP COM 910047109 3,872 73,800 SH   DFND 1,2,3 0 73,800 0
UNIVERSAL CORP VA COM 913456109 1,332 22,892 SH   DFND 1,2,3 0 22,892 0
VIRTUS INVESTMENT PARTNERS COM 92828Q109 904 9,243 SH   DFND 1,2,3 0 9,243 0
VOYA FINL INC COM 929089100 2,642 91,675 SH   DFND 1,2,3 0 91,675 0
WSFS FINANCIAL CORP COM 929328102 754 20,675 SH   DFND 1,2,3 0 20,675 0
WAL-MART STORES INC COM 931142103 1,920 26,625 SH   DFND 1,2,3 0 26,625 0
WEBSTER FINANCIAL CORP COM 947890109 1,523 40,075 SH   DFND 1,2,3 0 40,075 0
WHIRLPOOL CORPORATION COM 963320106 4,054 25,000 SH   DFND 1,2,3 0 25,000 0
UBS GROUP AG SHS SHS H42097107 1,367 100,375 SH   DFND 1,2,3 0 100,375 0
ARGO GROUP INTERNATIONAL COM G0464B107 964 17,094 SH   DFND 1,2,3 0 17,094 0
ASPEN INSURANCE HOLDINGS LTD SHS G05384105 1,182 25,375 SH   DFND 1,2,3 0 25,375 0
AXIS CAPITAL HOLDINGS LTD SHS G0692U109 1,723 31,728 SH   DFND 1,2,3 0 31,728 0
EATON CORP PLC SHS G29183103 4,118 62,676 SH   DFND 1,2,3 0 62,676 0
ENDURANCE SPECIALTY HOLDINGS SHS G30397106 1,325 20,250 SH   DFND 1,2,3 0 20,250 0
ELECTRUM SPECIAL ACQUISITION COM G3105C120 791 78,949 SH   DFND 1,2,3 0 78,949 0
GOLAR LNG LTD SHS G9456A100 1,837 86,663 SH   DFND 1,2,3 0 86,663 0
AERCAP HOLDINGS NV SHS N00985106 1,774 46,100 SH   DFND 1,2,3 0 46,100 0
LYONDELLBASELL INDU SHS N53745100 6,049 75,000 SH   DFND 1,2,3 0 75,000 0
TEEKAY TANKERS LTD CL A Y8565N102 588 232,650 SH   DFND 1,2,3 0 232,650 0
ROYAL BANK OF CANADA NOTE 4.650% 1/2 780082AD5 34,647 31,662,000 PRN   DFND 1,2,3 0 31,662,000 0
HEALTHSOUTH CORP WARRANT 421924127 129 53,352 SH   DFND 1,2,3 0 53,352 0
CONMED CORP COM 207410101 220 5,503 SH   DFND 1,2,3 0 5,503 0
ARRIS INTL INC SHS HS G0551A103 771 27,216 SH   DFND 1,2,3 0 27,216 0
WILLIAMS COS INC DEL COM COM 969457100 983 32,005 SH   DFND 1,2,3 0 32,005 0
VORNADO RLTY TR SH BEN INT SH BEN INT 929042109 2,622 25,915 SH   DFND 1,2,3 0 25,915 0
HESS CORP COM COM 42809H107 1,618 30,186 SH   DFND 1,2,3 0 30,186 0
EOG RES INC COM COM 26875P101 3,674 38,000 SH   DFND 1,2,3 0 38,000 0
MURPHY OIL CORP COM COM 626717102 3,253 107,025 SH   DFND 1,2,3 0 107,025 0
SCANSOURCE INC COM COM 806037107 1,443 39,548 SH   DFND 1,2,3 0 39,548 0
AMERICAN EQTY INVT LIFE HLD COM COM 025676206 1,670 94,206 SH   DFND 1,2,3 0 94,206 0
ANIXTER INTL INC COM COM 035290105 1,542 23,909 SH   DFND 1,2,3 0 23,909 0
SEAGATE TECHNOLOGY PLC SHS SHS G7945M107 2,506 65,025 SH   DFND 1,2,3 0 65,025 0
CENOVUS ENERGY INC COM COM 15135U109 1,650 115,075 SH   DFND 1,2,3 0 115,075 0
HALLIBURTON CO COM COM 406216101 1,602 35,700 SH   DFND 1,2,3 0 35,700 0
COMTECH TELECOMMUNICATIONS COM 205826209 387 30,219 SH   DFND 1,2,3 0 30,219 0
MONSANTO CO COM 61166W101 2,190 21,435 SH   DFND 1,2,3 0 21,435 0
TOLL BROTHERS INC ADR 889478103 1,104 37,000 SH   DFND 1,2,3 0 37,000 0
TEVA PHARMACEUTICAL INDS LTD COM 881624209 2,438 53,000 SH   DFND 1,2,3 0 53,000 0
BB&T CORP COM 054937107 571 15,150 SH   DFND 1,2,3 0 15,150 0
HERTZ GLOBAL HLDGS INC COM 42806J106 330 8,220 SH   DFND 1,2,3 0 8,220 0
BANK OF NOVA SCOTIA NOTE 4.500%12/1 064159HB5 20,383 19,105,000 PRN   DFND 1,2,3 0 19,105,000 0
WESCO AIRCRAFT HLDGS INC COM 950814103 165 12,323 SH   DFND 1,2,3 0 12,323 0
CAPITAL ONE FINL CORP COM 14040H105 2,065 28,750 SH   DFND 1,2,3 0 28,750 0
HILTON WORLDWIDE HLDGS INC COM 43300A104 1,542 67,250 SH   DFND 1,2,3 0 67,250 0
LIFEPOINT HEALTH INC COM 53219L109 1,338 22,591 SH   DFND 1,2,3 0 22,591 0
DELL TECHNOLOGIES INC CL V 24703L103 1,520 31,815 SH   DFND 1,2,3 0 31,815 0
CATERPILLAR INC COM 149123101 817 9,205 SH   DFND 1,2,3 0 9,205 0
KADMON HLDGS INC COM 48283N106 616 9,205 SH   DFND 1,2,3 0 9,205 0
TORONTO DOMINION BK ONT NOTE 3.625% 9/1 891160MJ9 10,030 84,005 SH   DFND 1,2,3 0 84,005 0