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 300 86,820 SH   DFND 1,2,3 0 86,820 0
ABBOTT LABS COM COM 002824100 916 20,625 SH   DFND 1,2,3 0 20,625 0
ACTUANT CORP CL A NEW CL A 00508X203 1,455 55,223 SH   DFND 1,2,3 0 55,223 0
AECOM COM COM 00766T100 1,146 32,202 SH   DFND 1,2,3 0 32,202 0
AETNA INC NEW COM COM 00817Y108 6,760 53,000 SH   DFND 1,2,3 0 53,000 0
ALPHABET INC CAP STK CL A CL A 02079K305 793 935 SH   DFND 1,2,3 0 935 0
AMERICAN AIRLS GROUP INC COM COM 02376R102 3,329 78,700 SH   DFND 1,2,3 0 78,700 0
AMERICAN INTL GROUP INC COM NEW COM NEW 026874784 2,430 38,924 SH   DFND 1,2,3 0 38,924 0
ANADARKO PETE CORP COM COM 032511107 5,447 87,860 SH   DFND 1,2,3 0 87,860 0
APOLLO GLOBAL MGMT LLC CL A SHS CL A SHS 037612306 722 29,700 SH   DFND 1,2,3 0 29,700 0
ASSOCIATED BANC CORP COM COM 045487105 1,599 65,513 SH   DFND 1,2,3 0 65,513 0
ASSURANT INC COM COM 04621X108 4,850 50,700 SH   DFND 1,2,3 0 50,700 0
AVNET INC COM COM 053807103 3,000 65,570 SH   DFND 1,2,3 0 65,570 0
BP PLC SPONSORED ADR SPONSORED ADR 055622104 1,808 52,382 SH   DFND 1,2,3 0 52,382 0
BANK AMER CORP COM COM 060505104 3,244 137,525 SH   DFND 1,2,3 0 137,525 0
BARRICK GOLD CORP COM COM 067901108 2,443 128,640 SH   DFND 1,2,3 0 128,640 0
BROOKDALE SR LIVING INC COM COM 112463104 2,566 191,078 SH   DFND 1,2,3 0 191,078 0
CNO FINL GROUP INC COM COM 12621E103 1,207 58,889 SH   DFND 1,2,3 0 58,889 0
CVR PARTNERS LP COM COM 126633106 2,337 502,664 SH   DFND 1,2,3 0 502,664 0
CARPENTER TECHNOLOGY CORP COM COM 144285103 371 9,936 SH   DFND 1,2,3 0 9,936 0
CATCHMARK TIMBER TR INC CL A CL A 14912Y202 161 13,960 SH   DFND 1,2,3 0 13,960 0
CHART INDS INC COM PAR $0.01 COM 16115Q308 1,322 37,841 SH   DFND 1,2,3 0 37,841 0
CISCO SYS INC COM COM 17275R102 2,183 64,600 SH   DFND 1,2,3 0 64,600 0
CITIGROUP INC COM NEW COM 172967424 9,468 158,271 SH   DFND 1,2,3 0 158,271 0
COCA COLA CO COM COM 191216100 1,210 28,500 SH   DFND 1,2,3 0 28,500 0
COLUMBUS MCKINNON CORP N Y COM COM 199333105 331 13,325 SH   DFND 1,2,3 0 13,325 0
COMCAST CORP NEW CL A CL A 20030N101 6,135 163,200 SH   DFND 1,2,3 0 163,200 0
CORNING INC COM COM 219350105 804 29,780 SH   DFND 1,2,3 0 29,780 0
COVANTA HLDG CORP COM COM 22282E102 8,710 554,768 SH   DFND 1,2,3 0 554,768 0
CUBIC CORP COM COM 229669106 1,330 25,193 SH   DFND 1,2,3 0 25,193 0
D R HORTON INC COM COM 23331A109 3,471 104,200 SH   DFND 1,2,3 0 104,200 0
DANA INCORPORATED COM COM 235825205 908 47,041 SH   DFND 1,2,3 0 47,041 0
DELTA AIR LINES INC DEL COM NEW COM NEW 247361702 4,524 98,440 SH   DFND 1,2,3 0 98,440 0
DEVON ENERGY CORP NEW COM COM 25179M103 2,290 54,900 SH   DFND 1,2,3 0 54,900 0
DIAMONDROCK HOSPITALITY CO COM COM 252784301 374 33,571 SH   DFND 1,2,3 0 33,571 0
DIODES INC COM COM 254543101 822 34,184 SH   DFND 1,2,3 0 34,184 0
DOVER CORP COM COM 260003108 2,021 25,150 SH   DFND 1,2,3 0 25,150 0
DOW CHEM CO COM COM 260543103 3,276 51,555 SH   DFND 1,2,3 0 51,555 0
ENOVA INTL INC COM COM 29357K103 389 26,225 SH   DFND 1,2,3 0 26,225 0
ESSENDANT INC COM COM 296689102 1,398 92,260 SH   DFND 1,2,3 0 92,260 0
EZCORP INC CL A NON VTG CL A 302301106 335 41,100 SH   DFND 1,2,3 0 41,100 0
EXXON MOBIL CORP COM COM 30231G102 1,630 19,875 SH   DFND 1,2,3 0 19,875 0
FEDEX CORP COM COM 31428X106 4,898 25,100 SH   DFND 1,2,3 0 25,100 0
FIRST CTZNS BANCSHARES INC N CL A CL A 31946M103 921 2,745 SH   DFND 1,2,3 0 2,745 0
FIRST HORIZON NATL CORP COM COM 320517105 1,071 57,900 SH   DFND 1,2,3 0 57,900 0
FIRST MIDWEST BANCORP DEL COM COM 320867104 798 33,701 SH   DFND 1,2,3 0 33,701 0
FORD MTR CO DEL COM PAR $0.01 COM 345370860 1,551 133,275 SH   DFND 1,2,3 0 133,275 0
FRANKLIN RES INC COM COM 354613101 2,674 63,450 SH   DFND 1,2,3 0 63,450 0
GENERAL CABLE CORP DEL NEW COM COM 369300108 879 48,956 SH   DFND 1,2,3 0 48,956 0
GENERAL MTRS CO COM COM 37045V100 1,661 46,980 SH   DFND 1,2,3 0 46,980 0
GENWORTH FINL INC COM CL A CL A 37247D106 258 62,650 SH   DFND 1,2,3 0 62,650 0
GOLDMAN SACHS GROUP INC COM COM 38141G104 3,101 13,500 SH   DFND 1,2,3 0 13,500 0
GOVERNMENT PPTYS INCOME TR COM SHS BEN INT COM SHS BEN INT 38376A103 915 43,714 SH   DFND 1,2,3 0 43,714 0
GRANITE REAL ESTATE INVT TR UNIT 99/99/9999 UNIT 387437114 1,250 35,800 SH   DFND 1,2,3 0 35,800 0
GREAT PLAINS ENERGY INC COM COM 391164100 529 18,100 SH   DFND 1,2,3 0 18,100 0
HARSCO CORP COM COM 415864107 570 44,700 SH   DFND 1,2,3 0 44,700 0
HEWLETT PACKARD ENTERPRISE C COM COM 42824C109 3,086 130,205 SH   DFND 1,2,3 0 130,205 0
ICONIX BRAND GROUP INC COM COM 451055107 708 94,087 SH   DFND 1,2,3 0 94,087 0
INSIGHT ENTERPRISES INC COM COM 45765U103 1,011 24,596 SH   DFND 1,2,3 0 24,596 0
INNOSPEC INC COM COM 45768S105 1,245 19,231 SH   DFND 1,2,3 0 19,231 0
INTEL CORP COM COM 458140100 1,393 38,625 SH   DFND 1,2,3 0 38,625 0
JPMORGAN CHASE & CO COM COM 46625H100 9,722 110,675 SH   DFND 1,2,3 0 110,675 0
JIVE SOFTWARE INC COM COM 47760A108 145 33,756 SH   DFND 1,2,3 0 33,756 0
JOHNSON & JOHNSON COM COM 478160104 835 6,705 SH   DFND 1,2,3 0 6,705 0
KBR INC COM COM 48242W106 2,041 135,808 SH   DFND 1,2,3 0 135,808 0
KAISER ALUMINUM CORP COM PAR $0.01 COM 483007704 575 7,200 SH   DFND 1,2,3 0 7,200 0
KAPSTONE PAPER & PACKAGING C COM COM 48562P103 220 9,531 SH   DFND 1,2,3 0 9,531 0
LAMAR ADVERTISING CO NEW CL A CL A 512816109 2,087 27,925 SH   DFND 1,2,3 0 27,925 0
LENNAR CORP CL A CL A 526057104 2,560 50,000 SH   DFND 1,2,3 0 50,000 0
LINCOLN NATL CORP IND COM COM 534187109 8,770 134,000 SH   DFND 1,2,3 0 134,000 0
LYON WILLIAM HOMES CL A NEW CL A NEW 552074700 594 28,800 SH   DFND 1,2,3 0 28,800 0
MASONITE INTL CORP NEW COM COM 575385109 1,986 25,062 SH   DFND 1,2,3 0 25,062 0
MERCER INTL INC COM COM 588056101 262 22,407 SH   DFND 1,2,3 0 22,407 0
METLIFE INC COM COM 59156R108 2,167 41,025 SH   DFND 1,2,3 0 41,025 0
MICROSOFT CORP COM COM 594918104 8,990 136,500 SH   DFND 1,2,3 0 136,500 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 8,406 218,337 SH   DFND 1,2,3 0 218,337 0
MORGAN STANLEY COM NEW COM 617446448 3,119 72,800 SH   DFND 1,2,3 0 72,800 0
NRG ENERGY INC COM NEW COM NEW 629377508 792 42,341 SH   DFND 1,2,3 0 42,341 0
NELNET INC CL A CL A 64031N108 211 4,800 SH   DFND 1,2,3 0 4,800 0
NEW SR INVT GROUP INC COM COM 648691103 1,803 176,740 SH   DFND 1,2,3 0 176,740 0
NEWS CORP NEW CL A CL A 65249B109 952 73,225 SH   DFND 1,2,3 0 73,225 0
NEWS CORP NEW CL B CL B 65249B208 415 30,775 SH   DFND 1,2,3 0 30,775 0
NOVAGOLD RES INC COM NEW COM NEW 66987E206 531 109,110 SH   DFND 1,2,3 0 109,110 0
OCCIDENTAL PETE CORP DEL COM COM 674599105 1,582 24,966 SH   DFND 1,2,3 0 24,966 0
OMNICOM GROUP INC COM COM 681919106 2,601 30,173 SH   DFND 1,2,3 0 30,173 0
ON SEMICONDUCTOR CORP COM COM 682189105 3,124 201,648 SH   DFND 1,2,3 0 201,648 0
ORACLE CORP COM COM 68389X105 9,492 212,775 SH   DFND 1,2,3 0 212,775 0
OWENS & MINOR INC NEW COM COM 690732102 1,543 44,585 SH   DFND 1,2,3 0 44,585 0
PARK STERLING CORP COM COM 70086Y105 1,089 88,466 SH   DFND 1,2,3 0 88,466 0
PARKER HANNIFIN CORP COM COM 701094104 1,325 8,267 SH   DFND 1,2,3 0 8,267 0
PFIZER INC COM COM 717081103 7,414 216,726 SH   DFND 1,2,3 0 216,726 0
PIONEER NAT RES CO COM COM 723787107 4,991 26,800 SH   DFND 1,2,3 0 26,800 0
PORTLAND GEN ELEC CO COM NEW COM 736508847 453 10,200 SH   DFND 1,2,3 0 10,200 0
ROYAL DUTCH SHELL PLC SPONS ADR A SPONSORED ADR 780259206 3,187 60,446 SH   DFND 1,2,3 0 60,446 0
SPDR GOLD TRUST GOLD SHS SHS 78463V107 26,593 224,000 SH   DFND 1,2,3 0 224,000 0
SCIENCE APPLICATNS INTL CP N COM COM 808625107 856 11,500 SH   DFND 1,2,3 0 11,500 0
STAPLES INC COM COM 855030102 1,935 220,653 SH   DFND 1,2,3 0 220,653 0
STATE STR CORP COM COM 857477103 1,668 20,950 SH   DFND 1,2,3 0 20,950 0
STONERIDGE INC COM COM 86183P102 658 36,271 SH   DFND 1,2,3 0 36,271 0
SUPERIOR ENERGY SVCS INC COM COM 868157108 1,222 85,660 SH   DFND 1,2,3 0 85,660 0
SYNOVUS FINL CORP COM NEW COM 87161C501 1,082 26,373 SH   DFND 1,2,3 0 26,373 0
TCF FINL CORP COM COM 872275102 860 50,542 SH   DFND 1,2,3 0 50,542 0
TEREX CORP NEW COM COM 880779103 3,787 120,619 SH   DFND 1,2,3 0 120,619 0
TRAVELERS COMPANIES INC COM COM 89417E109 5,183 43,000 SH   DFND 1,2,3 0 43,000 0
TRIBUNE MEDIA CO CL A CL A 896047503 733 19,675 SH   DFND 1,2,3 0 19,675 0
TRIMAS CORP COM NEW COM NEW 896215209 1,596 76,937 SH   DFND 1,2,3 0 76,937 0
TRIPLE-S MGMT CORP CL B CL B 896749108 1,044 59,447 SH   DFND 1,2,3 0 59,447 0
TUPPERWARE BRANDS CORP COM COM 899896104 847 13,500 SH   DFND 1,2,3 0 13,500 0
UFP TECHNOLOGIES INC COM COM 902673102 226 8,731 SH   DFND 1,2,3 0 8,731 0
UNITED CONTL HLDGS INC COM COM 910047109 5,213 73,800 SH   DFND 1,2,3 0 73,800 0
UNIVERSAL CORP VA COM COM 913456109 795 11,240 SH   DFND 1,2,3 0 11,240 0
VIRTUS INVT PARTNERS INC COM COM 92828Q109 1,450 13,689 SH   DFND 1,2,3 0 13,689 0
VOYA FINL INC COM COM 929089100 2,798 73,700 SH   DFND 1,2,3 0 73,700 0
WSFS FINL CORP COM COM 929328102 454 9,887 SH   DFND 1,2,3 0 9,887 0
WAL-MART STORES INC COM COM 931142103 1,822 25,275 SH   DFND 1,2,3 0 25,275 0
WEBSTER FINL CORP CONN COM COM 947890109 1,194 23,866 SH   DFND 1,2,3 0 23,866 0
WHIRLPOOL CORP COM COM 963320106 4,883 28,500 SH   DFND 1,2,3 0 28,500 0
ARGO GROUP INTL HLDGS LTD COM COM G0464B107 1,102 16,248 SH   DFND 1,2,3 0 16,248 0
ASPEN INSURANCE HOLDINGS LTD SHS SHS G05384105 1,551 29,797 SH   DFND 1,2,3 0 29,797 0
AXIS CAPITAL HOLDINGS LTD SHS SHS G0692U109 1,800 26,853 SH   DFND 1,2,3 0 26,853 0
EATON CORP PLC SHS SHS G29183103 4,003 53,991 SH   DFND 1,2,3 0 53,991 0
ELECTRUM SPL ACQUISITION COR UNIT 99/99/9999 COM G3105C120 816 78,949 SH   DFND 1,2,3 0 78,949 0
OM ASSET MGMT PLC SHS SHS G67506108 434 28,733 SH   DFND 1,2,3 0 28,733 0
GOLAR LNG LTD BERMUDA SHS SHS G9456A100 2,420 86,663 SH   DFND 1,2,3 0 86,663 0
AERCAP HOLDINGS NV SHS SHS N00985106 1,407 30,600 SH   DFND 1,2,3 0 30,600 0
LYONDELLBASELL INDUSTRIES N SHS - A - SHS N53745100 5,398 59,200 SH   DFND 1,2,3 0 59,200 0
TEEKAY TANKERS LTD CL A CLA Y8565N102 569 277,750 SH   DFND 1,2,3 0 277,750 0
ROYAL BANK OF CANADA NOTE 4.650% 1/2 780082AD5 33,381 31,662,000 PRN   DFND 1,2,3 0 31,662,000 0
CONMED CORP COM COM 207410101 244 5,503 SH   DFND 1,2,3 0 5,503 0
ARRIS INTL INC SHS HS G0551A103 601 22,716 SH   DFND 1,2,3 0 22,716 0
WILLIAMS COS INC DEL COM COM 969457100 505 17,070 SH   DFND 1,2,3 0 17,070 0
VORNADO RLTY TR SH BEN INT SH BEN INT 929042109 2,600 25,915 SH   DFND 1,2,3 0 25,915 0
HESS CORP COM COM 42809H107 1,620 33,611 SH   DFND 1,2,3 0 33,611 0
EOG RES INC COM COM 26875P101 3,707 38,000 SH   DFND 1,2,3 0 38,000 0
MURPHY OIL CORP COM COM 626717102 2,802 98,009 SH   DFND 1,2,3 0 98,009 0
SCANSOURCE INC COM COM 806037107 1,398 35,611 SH   DFND 1,2,3 0 35,611 0
AMERICAN EQTY INVT LIFE HLD COM COM 025676206 1,625 68,761 SH   DFND 1,2,3 0 68,761 0
ANIXTER INTL INC COM COM 035290105 1,032 13,019 SH   DFND 1,2,3 0 13,019 0
CENOVUS ENERGY INC COM COM 15135U109 1,946 172,208 SH   DFND 1,2,3 0 172,208 0
HALLIBURTON CO COM COM 406216101 762 15,475 SH   DFND 1,2,3 0 15,475 0
COMTECH TELECOMMUNICATIONS C COM NEW COM 205826209 951 64,519 SH   DFND 1,2,3 0 64,519 0
MONSANTO CO NEW COM COM 61166W101 1,615 14,265 SH   DFND 1,2,3 0 14,265 0
TOLL BROTHERS INC COM ADR 889478103 1,336 37,000 SH   DFND 1,2,3 0 37,000 0
BANK OF NOVA SCOTIA NOTE 4.500% 12/1 064159HB5 19,936 19,105,000 PRN   DFND 1,2,3 0 19,105,000 0
WESCO AIRCRAFT HLDGS INC COM COM 950814103 482 42,270 SH   DFND 1,2,3 0 42,270 0
HOPE BANCORP INC COM COM 43940T109 1,214 63,331 SH   DFND 1,2,3 0 63,331 0
CAPITAL ONE FINL CORP COM COM 14040H105 2,288 26,400 SH   DFND 1,2,3 0 26,400 0
LIFEPOINT HEALTH INC COM COM 53219L109 1,480 22,591 SH   DFND 1,2,3 0 22,591 0
DELL TECHNOLOGIES INC COM CL V CL V 24703L103 2,039 31,815 SH   DFND 1,2,3 0 31,815 0
CATERPILLAR INC DEL COM COM 149123101 854 9,205 SH   DFND 1,2,3 0 9,205 0
TORONTO DOMINION BK ONT NOTE 3.625% 9/1 891160MJ9 9,828 10,000,000 PRN   DFND 1,2,3 0 10,000,000 0
CIGNA CORPORATION COM COM 125509109 2,245 15,325 SH   DFND 1,2,3 0 15,325 0
COGNIZANT TECHNOLOGY SOLUTIO CL A CLA 192446102 2,619 44,010 SH   DFND 1,2,3 0 44,010 0
CABOT OIL & GAS CORP COM COM 127097103 2,391 100,000 SH   DFND 1,2,3 0 100,000 0
VIRTUSA CORP COM COM 92827P102 512 16,933 SH   DFND 1,2,3 0 16,933 0
HOEGH LNG PARTNERS LP COM UNIT LTD COM Y3262R100 656 33,400 SH   DFND 1,2,3 0 33,400 0
AMTRUST FINL SVCS INC COM COM 032359309 1,938 105,000 SH   DFND 1,2,3 0 105,000 0
PLY GEM HLDGS INC COM COM 72941W100 519 26,325 SH   DFND 1,2,3 0 26,325 0
ENBRIDGE INC NOTE 6.000% 1/1 29250NAN5 15,103 15,000,000 PRN   DFND 1,2,3 0 15,000,000 0
BABCOCK & WILCOX ENTERPRIS I COM COM 05614L100 603 64,580 SH   DFND 1,2,3 0 64,580 0
VCA INC COM COM 918194101 238 2,600 SH   DFND 1,2,3 0 2,600 0
VERIFONE SYS INC COM COM 92342Y109 1,273 67,946 SH   DFND 1,2,3 0 67,946 0
MYLAN N V SHS EURO SHS N59465109 1,260 32,306 SH   DFND 1,2,3 0 32,306 0
ATHENE HLDG LTD CL A CL A G0684D107 2,500 50,000 SH   DFND 1,2,3 0 50,000 0
HILTON WORLDWIDE HLDGS INC COM COM 43300A203 1,759 30,092 SH   DFND 1,2,3 0 30,092 0
MCKESSON CORP COM COM 58155Q103 2,127 14,344 SH   DFND 1,2,3 0 14,344 0
JELD-WEN HLDG INC COM COM 47580P103 1,351 41,135 SH   DFND 1,2,3 0 41,135 0
FUELCELL ENERGY INC COM NEW COM NEW 35952H502 71 51,789 SH   DFND 1,2,3 0 51,789 0
FOREST CITY RLTY TR INC COM CL A CL A 345605109 1,481 68,000 SH   DFND 1,2,3 0 68,000 0
ISHARES U S ETF TR SHT MAT BD ETF BD ETF 46431W507 5,025 100,000 SH   DFND 1,2,3 0 100,000 0
ALPHABET INC CAP STK CL C CL C 02079K107 2,281 2,750 SH   DFND 1,2,3 0 2,750 0
WPX ENERGY INC COM COM 98212B103 2,497 186,500 SH   DFND 1,2,3 0 186,500 0