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 COM 00191G103 441 86,820 SH   DFND 1,2,3 0 86,820 0
ABBOTT LABS COM COM 002824100 1,325 34,500 SH   DFND 1,2,3 0 34,500 0
ACTUANT CORP CL A NEW CL A 00508X203 1,433 55,223 SH   DFND 1,2,3 0 55,223 0
AECOM COM COM 00766T100 1,170 32,202 SH   DFND 1,2,3 0 32,202 0
AETNA INC NEW COM COM 00817Y108 6,572 53,000 SH   DFND 1,2,3 0 53,000 0
ALPHABET INC CAP STK CL A CL A 02079K305 740 935 SH   DFND 1,2,3 0 935 0
AMERICAN AIRLS GROUP INC COM COM 02376R102 3,674 78,700 SH   DFND 1,2,3 0 78,700 0
AMERICAN INTL GROUP INC COM NEW COM NEW 026874784 2,406 36,850 SH   DFND 1,2,3 0 36,850 0
ANADARKO PETE CORP COM COM 032511107 6,126 87,860 SH   DFND 1,2,3 0 87,860 0
APACHE CORP COM COM 037411105 3,011 47,450 SH   DFND 1,2,3 0 47,450 0
APOLLO GLOBAL MGMT LLC CL A SHS CLA SHS 037612306 574 29,700 SH   DFND 1,2,3 0 29,700 0
ASSOCIATED BANC CORP COM COM 045487105 1,618 65,513 SH   DFND 1,2,3 0 65,513 0
ASSURANT INC COM COM 04621X108 7,029 75,700 SH   DFND 1,2,3 0 75,700 0
AVNET INC COM COM 053807103 2,918 61,300 SH   DFND 1,2,3 0 61,300 0
BP PLC SPONSORED ADR SPONSORED ADR 055622104 1,958 52,382 SH   DFND 1,2,3 0 52,382 0
BANK AMER CORP COM COM 060505104 3,039 137,525 SH   DFND 1,2,3 0 137,525 0
BARRICK GOLD CORP COM COM 067901108 2,055 128,640 SH   DFND 1,2,3 0 128,640 0
BROOKDALE SR LIVING INC COM COM 112463104 1,213 97,675 SH   DFND 1,2,3 0 97,675 0
CNO FINL GROUP INC COM COM 12621E103 1,202 62,789 SH   DFND 1,2,3 0 62,789 0
CVR PARTNERS LP COM COM 126633106 3,021 502,664 SH   DFND 1,2,3 0 502,664 0
CARPENTER TECHNOLOGY CORP COM COM 144285103 471 13,036 SH   DFND 1,2,3 0 13,036 0
CATCHMARK TIMBER TR INC CL A CL A 14912Y202 157 13,960 SH   DFND 1,2,3 0 13,960 0
CHART INDUSTRIES INC COM 16115Q308 1,408 39,092 SH   DFND 1,2,3 0 39,092 0
CISCO SYS INC COM COM 17275R102 1,952 64,600 SH   DFND 1,2,3 0 64,600 0
CITIGROUP INC COM NEW COM 172967424 9,406 158,271 SH   DFND 1,2,3 0 158,271 0
COCA COLA CO COM COM 191216100 1,181 28,500 SH   DFND 1,2,3 0 28,500 0
COLUMBUS MCKINNON CORP N Y COM COM 199333105 876 32,412 SH   DFND 1,2,3 0 32,412 0
COMCAST CORP NEW CL A CL A 20030N101 5,634 81,600 SH   DFND 1,2,3 0 81,600 0
CORNING INC COM COM 219350105 5,803 239,105 SH   DFND 1,2,3 0 239,105 0
COVANTA HLDG CORP COM COM 22282E102 8,221 527,000 SH   DFND 1,2,3 0 527,000 0
CUBIC CORP COM COM 229669106 1,208 25,193 SH   DFND 1,2,3 0 25,193 0
D R HORTON INC COM COM 23331A109 2,847 104,200 SH   DFND 1,2,3 0 104,200 0
DANA INCORPORATED COM COM 235825205 892 47,041 SH   DFND 1,2,3 0 47,041 0
DELTA AIR LINES INC DEL COM NEW COM NEW 247361702 4,842 98,440 SH   DFND 1,2,3 0 98,440 0
DEVON ENERGY CORP NEW COM COM 25179M103 2,507 54,900 SH   DFND 1,2,3 0 54,900 0
DIAMONDROCK HOSPITALITY CO COM COM 252784301 387 33,571 SH   DFND 1,2,3 0 33,571 0
DIODES INC COM COM 254543101 877 34,184 SH   DFND 1,2,3 0 34,184 0
DOVER CORP COM COM 260003108 1,884 25,150 SH   DFND 1,2,3 0 25,150 0
DOW CHEM CO COM COM 260543103 3,635 63,530 SH   DFND 1,2,3 0 63,530 0
ENOVA INTL INC COM COM 29357K103 315 25,125 SH   DFND 1,2,3 0 25,125 0
ESSENDANT INC COM COM 296689102 1,299 62,185 SH   DFND 1,2,3 0 62,185 0
EZCORP INC CL A NON VTG CL A 302301106 437 41,100 SH   DFND 1,2,3 0 41,100 0
EXXON MOBIL CORP COM COM 30231G102 1,457 16,150 SH   DFND 1,2,3 0 16,150 0
FEDEX CORP COM COM 31428X106 4,673 25,100 SH   DFND 1,2,3 0 25,100 0
FIRST CTZNS BANCSHARES INC N CL A CL A 31946M103 974 2,745 SH   DFND 1,2,3 0 2,745 0
FIRST HORIZON NATL CORP COM COM 320517105 1,054 52,700 SH   DFND 1,2,3 0 52,700 0
FIRST MIDWEST BANCORP DEL COM COM 320867104 850 33,701 SH   DFND 1,2,3 0 33,701 0
FORD MOTOR COMPANY COM 345370860 1,616 133,275 SH   DFND 1,2,3 0 133,275 0
FRANKLIN RES INC COM COM 354613101 2,511 63,450 SH   DFND 1,2,3 0 63,450 0
GENERAL CABLE CORP DEL NEW COM COM 369300108 932 48,956 SH   DFND 1,2,3 0 48,956 0
GENERAL MTRS CO COM COM 37045V100 1,636 46,980 SH   DFND 1,2,3 0 46,980 0
GENWORTH FINL INC COM CL A CL A 37247D106 238 62,650 SH   DFND 1,2,3 0 62,650 0
GOLDMAN SACHS GROUP INC COM COM 38141G104 3,232 13,500 SH   DFND 1,2,3 0 13,500 0
GOVERNMENT PPTYS INCOME TR COM SHS BEN INT COM SHS BEN INT 38376A103 866 45,450 SH   DFND 1,2,3 0 45,450 0
GRANITE REAL ESTATE INVESTMENT TRUST UNIT 387437114 1,214 36,300 SH   DFND 1,2,3 0 36,300 0
GREAT PLAINS ENERGY INC COM COM 391164100 495 18,100 SH   DFND 1,2,3 0 18,100 0
HP INC COM COM 40434L105 742 50,055 SH   DFND 1,2,3 0 50,055 0
HARSCO CORP COM COM 415864107 607 44,700 SH   DFND 1,2,3 0 44,700 0
HEWLETT PACKARD ENTERPRISE C COM COM 42824C109 3,012 130,205 SH   DFND 1,2,3 0 130,205 0
ICONIX BRAND GROUP INC COM COM 451055107 874 93,587 SH   DFND 1,2,3 0 93,587 0
INSIGHT ENTERPRISES INC COM COM 45765U103 1,366 33,796 SH   DFND 1,2,3 0 33,796 0
INNOSPEC INC COM COM 45768S105 1,207 17,631 SH   DFND 1,2,3 0 17,631 0
INTEL CORP COM COM 458140100 1,400 38,625 SH   DFND 1,2,3 0 38,625 0
JPMORGAN CHASE & CO COM COM 46625H100 9,550 110,675 SH   DFND 1,2,3 0 110,675 0
JIVE SOFTWARE INC COM COM 47760A108 437 100,553 SH   DFND 1,2,3 0 100,553 0
JOHNSON & JOHNSON COM COM 478160104 1,271 11,035 SH   DFND 1,2,3 0 11,035 0
KBR INC COM COM 48242W106 2,118 126,919 SH   DFND 1,2,3 0 126,919 0
KAISER ALUMINUM CORP COM 483007704 551 7,100 SH   DFND 1,2,3 0 7,100 0
KAPSTONE PAPER & PACKAGING C COM COM 48562P103 210 9,531 SH   DFND 1,2,3 0 9,531 0
LAMAR ADVERTISING CO NEW CL A CL A 512816109 1,877 27,925 SH   DFND 1,2,3 0 27,925 0
LENNAR CORP CL A CL A 526057104 2,146 50,000 SH   DFND 1,2,3 0 50,000 0
LINCOLN NATL CORP IND COM COM 534187109 8,880 134,000 SH   DFND 1,2,3 0 134,000 0
LYON WILLIAM HOMES CL A NEW CL A NEW 552074700 548 28,800 SH   DFND 1,2,3 0 28,800 0
MASONITE INTL CORP NEW COM COM 575385109 1,601 24,336 SH   DFND 1,2,3 0 24,336 0
MERCER INTL INC COM COM 588056101 242 22,810 SH   DFND 1,2,3 0 22,810 0
METLIFE INC COM COM 59156R108 2,210 41,025 SH   DFND 1,2,3 0 41,025 0
MICROSOFT CORP COM COM 594918104 10,779 173,475 SH   DFND 1,2,3 0 173,475 0
MILLER INDS INC TENN COM NEW COM 600551204 283 10,727 SH   DFND 1,2,3 0 10,727 0
MOELIS & CO CL A CL A 60786M105 7,401 218,337 SH   DFND 1,2,3 0 218,337 0
MORGAN STANLEY COM NEW COM 617446448 3,075 72,800 SH   DFND 1,2,3 0 72,800 0
NRG ENERGY INC COM NEW COM NEW 629377508 519 42,341 SH   DFND 1,2,3 0 42,341 0
NELNET INC CL A CL A 64031N108 263 5,200 SH   DFND 1,2,3 0 5,200 0
NEW SR INVT GROUP INC COM COM 648691103 1,730 176,740 SH   DFND 1,2,3 0 176,740 0
NEWS CORP NEW CL A CL A 65249B109 839 73,225 SH   DFND 1,2,3 0 73,225 0
NEWS CORP NEW CL B CL B 65249B208 363 30,775 SH   DFND 1,2,3 0 30,775 0
NOVAGOLD RES INC COM NEW COM NEW 66987E206 497 109,110 SH   DFND 1,2,3 0 109,110 0
OCCIDENTAL PETE CORP DEL COM COM 674599105 1,778 24,966 SH   DFND 1,2,3 0 24,966 0
OMNICOM GROUP INC COM COM 681919106 2,229 26,200 SH   DFND 1,2,3 0 26,200 0
ON SEMICONDUCTOR CORP COM COM 682189105 3,077 241,165 SH   DFND 1,2,3 0 241,165 0
ORACLE CORP COM COM 68389X105 8,573 222,975 SH   DFND 1,2,3 0 222,975 0
OWENS & MINOR INC NEW COM COM 690732102 1,272 36,057 SH   DFND 1,2,3 0 36,057 0
PARK STERLING CORP COM COM 70086Y105 954 88,466 SH   DFND 1,2,3 0 88,466 0
PARKER HANNIFIN CORP COM COM 701094104 1,627 11,625 SH   DFND 1,2,3 0 11,625 0
PFIZER INC COM COM 717081103 5,375 165,491 SH   DFND 1,2,3 0 165,491 0
PIONEER NAT RES CO COM COM 723787107 4,825 26,800 SH   DFND 1,2,3 0 26,800 0
PORTLAND GEN ELEC CO COM NEW COM 736508847 441 10,200 SH   DFND 1,2,3 0 10,200 0
RENT A CTR INC NEW COM COM 76009N100 652 58,020 SH   DFND 1,2,3 0 58,020 0
ROYAL DUTCH SHELL PLC SPONS ADR A SPONSORED ADR 780259206 3,229 59,379 SH   DFND 1,2,3 0 59,379 0
SPDR GOLD TRUST GOLD SHS SHS 78463V107 25,648 234,000 SH   DFND 1,2,3 0 234,000 0
SCIENCE APPLICATNS INTL CP N COM COM 808625107 975 11,500 SH   DFND 1,2,3 0 11,500 0
STAPLES INC COM COM 855030102 1,996 220,653 SH   DFND 1,2,3 0 220,653 0
STATE STR CORP COM COM 857477103 1,628 20,950 SH   DFND 1,2,3 0 20,950 0
STONERIDGE INC COM COM 86183P102 705 39,857 SH   DFND 1,2,3 0 39,857 0
SUPERIOR ENERGY SVCS INC COM COM 868157108 1,445 85,660 SH   DFND 1,2,3 0 85,660 0
SYNOVUS FINL CORP COM NEW COM 87161C501 1,389 33,817 SH   DFND 1,2,3 0 33,817 0
TCF FINL CORP COM COM 872275102 990 50,542 SH   DFND 1,2,3 0 50,542 0
TEREX CORP NEW COM COM 880779103 3,803 120,619 SH   DFND 1,2,3 0 120,619 0
TRAVELERS COMPANIES INC COM COM 89417E109 5,264 43,000 SH   DFND 1,2,3 0 43,000 0
TRIBUNE MEDIA CO CL A CL A 896047503 3,504 100,175 SH   DFND 1,2,3 0 100,175 0
TRIMAS CORP COM NEW COM NEW 896215209 1,342 57,132 SH   DFND 1,2,3 0 57,132 0
TRIPLE-S MGMT CORP CL B CL B 896749108 1,230 59,447 SH   DFND 1,2,3 0 59,447 0
TUPPERWARE BRANDS CORP COM COM 899896104 710 13,500 SH   DFND 1,2,3 0 13,500 0
UFP TECHNOLOGIES INC COM COM 902673102 222 8,731 SH   DFND 1,2,3 0 8,731 0
UNITED CONTL HLDGS INC COM COM 910047109 5,378 73,800 SH   DFND 1,2,3 0 73,800 0
UNIVERSAL CORP VA COM COM 913456109 1,451 22,770 SH   DFND 1,2,3 0 22,770 0
VIRTUS INVT PARTNERS INC COM COM 92828Q109 1,167 9,889 SH   DFND 1,2,3 0 9,889 0
VOYA FINL INC COM COM 929089100 3,595 91,675 SH   DFND 1,2,3 0 91,675 0
WSFS FINL CORP COM COM 929328102 698 15,073 SH   DFND 1,2,3 0 15,073 0
WAL-MART STORES INC COM COM 931142103 1,747 25,275 SH   DFND 1,2,3 0 25,275 0
WEBSTER FINL CORP CONN COM COM 947890109 1,570 28,941 SH   DFND 1,2,3 0 28,941 0
WHIRLPOOL CORP COM COM 963320106 4,544 25,000 SH   DFND 1,2,3 0 25,000 0
ARGO GROUP INTL HLDGS LTD COM COM G0464B107 1,070 16,248 SH   DFND 1,2,3 0 16,248 0
ASPEN INSURANCE HOLDINGS LTD SHS SHS G05384105 1,513 27,516 SH   DFND 1,2,3 0 27,516 0
AXIS CAPITAL HOLDINGS LTD SHS SHS G0692U109 1,752 26,853 SH   DFND 1,2,3 0 26,853 0
EATON CORP PLC SHS SHS G29183103 4,204 62,676 SH   DFND 1,2,3 0 62,676 0
ENDURANCE SPECIALTY HLDGS LT SHS SHS G30397106 1,114 12,065 SH   DFND 1,2,3 0 12,065 0
GOLAR LNG LTD BERMUDA SHS SHS G9456A100 1,988 86,663 SH   DFND 1,2,3 0 86,663 0
AERCAP HOLDINGS NV SHS SHS N00985106 1,273 30,600 SH   DFND 1,2,3 0 30,600 0
LYONDELLBASELL INDUSTRIES N SHS - A - SHS N53745100 6,433 75,000 SH   DFND 1,2,3 0 75,000 0
TEEKAY TANKERS LTD CL A CLA Y8565N102 581 257,350 SH   DFND 1,2,3 0 257,350 0
ROYAL BANK OF CANADA NOTE 4.650% 1/2 780082AD5 33,704 31,662,000 PRN   DFND 1,2,3 0 31,662,000 0
CONMED CORP COM COM 207410101 243 5,503 SH   DFND 1,2,3 0 5,503 0
ARRIS INTL INC SHS HS G0551A103 705 23,416 SH   DFND 1,2,3 0 23,416 0
WILLIAMS COS INC DEL COM COM 969457100 531 17,070 SH   DFND 1,2,3 0 17,070 0
VORNADO RLTY TR SH BEN INT SH BEN INT 929042109 2,704 25,915 SH   DFND 1,2,3 0 25,915 0
HESS CORP COM COM 42809H107 2,093 33,611 SH   DFND 1,2,3 0 33,611 0
EOG RES INC COM COM 26875P101 3,841 38,000 SH   DFND 1,2,3 0 38,000 0
MURPHY OIL CORP COM COM 626717102 2,502 80,380 SH   DFND 1,2,3 0 80,380 0
SCANSOURCE INC COM COM 806037107 1,584 39,261 SH   DFND 1,2,3 0 39,261 0
AMERICAN EQTY INVT LIFE HLD COM COM 025676206 1,468 65,164 SH   DFND 1,2,3 0 65,164 0
ANIXTER INTL INC COM COM 035290105 1,319 16,277 SH   DFND 1,2,3 0 16,277 0
SEAGATE TECHNOLOGY PLC SHS SHS G7945M107 1,637 42,900 SH   DFND 1,2,3 0 42,900 0
CENOVUS ENERGY INC COM COM 15135U109 1,532 101,500 SH   DFND 1,2,3 0 101,500 0
HALLIBURTON CO COM COM 406216101 1,757 32,500 SH   DFND 1,2,3 0 32,500 0
COMTECH TELECOMMUNICATIONS C COM NEW COM 205826209 764 64,519 SH   DFND 1,2,3 0 64,519 0
MONSANTO CO NEW COM COM 61166W101 2,255 21,435 SH   DFND 1,2,3 0 21,435 0
TOLL BROTHERS INC COM ADR 889478103 1,147 37,000 SH   DFND 1,2,3 0 37,000 0
BANK OF NOVA SCOTIA NOTE 4.500% 12/1 064159HB5 19,626 19,105,000 PRN   DFND 1,2,3 0 19,105,000 0
WESCO AIRCRAFT HLDGS INC COM COM 950814103 416 27,870 SH   DFND 1,2,3 0 27,870 0
HOPE BANCORP INC COM COM 43940T109 1,386 63,331 SH   DFND 1,2,3 0 63,331 0
CAPITAL ONE FINL CORP COM COM 14040H105 2,303 26,400 SH   DFND 1,2,3 0 26,400 0
HILTON WORLDWIDE HLDGS INC COM COM 43300A104 2,155 79,250 SH   DFND 1,2,3 0 79,250 0
LIFEPOINT HEALTH INC COM COM 53219L109 1,283 22,591 SH   DFND 1,2,3 0 22,591 0
DELL TECHNOLOGIES INC COM CL V CL V 24703L103 1,748 31,815 SH   DFND 1,2,3 0 31,815 0
CATERPILLAR INC DEL COM COM 149123101 853 9,205 SH   DFND 1,2,3 0 9,205 0
KADMON HLDGS INC COM COM 48283N106 449 84,005 SH   DFND 1,2,3 0 84,005 0
TORONTO DOMINION BK ONT NOTE 3.625% 9/1 891160MJ9 9,865 10,000,000 PRN   DFND 1,2,3 0 10,000,000 0
CIGNA CORPORATION COM COM 125509109 2,044 15,325 SH   DFND 1,2,3 0 15,325 0
COGNIZANT TECHNOLOGY SOLUTIO CL A CLA 192446102 2,074 37,025 SH   DFND 1,2,3 0 37,025 0
CABOT OIL & GAS CORP COM COM 127097103 2,336 100,000 SH   DFND 1,2,3 0 100,000 0
VIRTUSA CORP COM COM 92827P102 221 8,825 SH   DFND 1,2,3 0 8,825 0
AMTRUST FINL SVCS INC COM COM 032359309 2,874 105,000 SH   DFND 1,2,3 0 105,000 0
PLY GEM HLDGS INC COM COM 72941W100 215 13,250 SH   DFND 1,2,3 0 13,250 0
HOEGH LNG PARTNERS LP COM UNIT LTD COM Y3262R100 636 33,500 SH   DFND 1,2,3 0 33,500 0
OM ASSET MGMT PLC SHS SHS G67506108 416 28,733 SH   DFND 1,2,3 0 28,733 0
ELECTRUM SPECIAL ACQUISITION CORP COM G3105C120 799 78,949 SH   DFND 1,2,3 0 78,949 0
ENBRIDGE INC NOTE 6.000% 1/1 29250NAN5 15,062 15,000,000 PRN   DFND 1,2,3 0 15,000,000 0