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    <cusip>00287Y109</cusip>
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    <nameOfIssuer>Accenture plc Class A</nameOfIssuer>
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    <cusip>G1151C101</cusip>
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    <cusip>00548F105</cusip>
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    <titleOfClass>COM</titleOfClass>
    <cusip>00751Y106</cusip>
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    <cusip>001055102</cusip>
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    <titleOfClass>COM</titleOfClass>
    <cusip>015351109</cusip>
    <value>13309</value>
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    <titleOfClass>COM</titleOfClass>
    <cusip>023135106</cusip>
    <value>72751</value>
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    <titleOfClass>COM</titleOfClass>
    <cusip>03027X100</cusip>
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    <nameOfIssuer>Apple Inc.</nameOfIssuer>
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    <nameOfIssuer>AT&amp;T Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <titleOfClass>COM</titleOfClass>
    <cusip>060505104</cusip>
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    <titleOfClass>COM</titleOfClass>
    <cusip>169656105</cusip>
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    <nameOfIssuer>NextEra Energy, Inc.</nameOfIssuer>
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    <nameOfIssuer>Prologis, Inc.</nameOfIssuer>
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    <nameOfIssuer>Simon Property Group Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <nameOfIssuer>Tractor Supply Company</nameOfIssuer>
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    <value>836</value>
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    <nameOfIssuer>Costamare Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <nameOfIssuer>CytomX Therapeutics,</nameOfIssuer>
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    <nameOfIssuer>Delek US Holdings, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>24665A103</cusip>
    <value>652</value>
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    <nameOfIssuer>Deluxe Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>248019101</cusip>
    <value>583</value>
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      <sshPrnamt>8800</sshPrnamt>
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    <nameOfIssuer>Diamond Offshore Drilling, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>25271C102</cusip>
    <value>578</value>
    <shrsOrPrnAmt>
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    <nameOfIssuer>Editas Medicine, Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>28106W103</cusip>
    <value>573</value>
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    <titleOfClass>COM</titleOfClass>
    <cusip>29084Q100</cusip>
    <value>693</value>
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      <sshPrnamt>9100</sshPrnamt>
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      <Shared>0</Shared>
      <None>52400</None>
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    <nameOfIssuer>Oasis Petroleum Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>674215108</cusip>
    <value>577</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>44500</None>
    </votingAuthority>
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    <nameOfIssuer>Old Second Bancorp, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>680277100</cusip>
    <value>867</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>60200</None>
    </votingAuthority>
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    <nameOfIssuer>Party City Holdco Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>702149105</cusip>
    <value>753</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>49400</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Pattern Energy Group Inc. Class A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>70338P100</cusip>
    <value>765</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>40800</None>
    </votingAuthority>
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    <nameOfIssuer>Pebblebrook Hotel Trust</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>70509V100</cusip>
    <value>799</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>20600</None>
    </votingAuthority>
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    <nameOfIssuer>Penn National Gaming Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>707569109</cusip>
    <value>924</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>27500</None>
    </votingAuthority>
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    <nameOfIssuer>PennyMac Financial Services, Inc. Cl A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>70932B101</cusip>
    <value>625</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>31800</None>
    </votingAuthority>
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    <nameOfIssuer>Pennymac Mortgage Investment Trust</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>70931T103</cusip>
    <value>739</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>38900</None>
    </votingAuthority>
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    <nameOfIssuer>Perry Ellis International, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>288853104</cusip>
    <value>1005</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>37000</None>
    </votingAuthority>
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    <nameOfIssuer>Phibro Animal Health Corporation Class A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>71742Q106</cusip>
    <value>507</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>11000</None>
    </votingAuthority>
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    <nameOfIssuer>PolyOne Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>73179P106</cusip>
    <value>588</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>13600</None>
    </votingAuthority>
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    <nameOfIssuer>Portland General Electric Company</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>736508847</cusip>
    <value>637</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>14900</None>
    </votingAuthority>
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    <nameOfIssuer>Progress Software Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>743312100</cusip>
    <value>749</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>19300</None>
    </votingAuthority>
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    <nameOfIssuer>QuinStreet, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74874Q100</cusip>
    <value>759</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>59800</None>
    </votingAuthority>
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    <nameOfIssuer>RadNet, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>750491102</cusip>
    <value>980</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>65300</None>
    </votingAuthority>
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    <nameOfIssuer>Red Robin Gourmet Burgers, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>75689M101</cusip>
    <value>517</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>11100</None>
    </votingAuthority>
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    <nameOfIssuer>Resources Connection Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76122Q105</cusip>
    <value>825</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>48800</None>
    </votingAuthority>
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    <nameOfIssuer>Restoration Hardware Holdings, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74967X103</cusip>
    <value>838</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>6000</None>
    </votingAuthority>
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    <nameOfIssuer>Rexnord Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76169B102</cusip>
    <value>750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>25800</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>RLJ Lodging Trust</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74965L101</cusip>
    <value>743</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>33700</None>
    </votingAuthority>
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    <nameOfIssuer>Ruth's Hospitality Group, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>783332109</cusip>
    <value>971</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>34600</None>
    </votingAuthority>
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    <nameOfIssuer>Sanmina Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>801056102</cusip>
    <value>803</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>27400</None>
    </votingAuthority>
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    <nameOfIssuer>Schnitzer Steel Industries, Inc. Class A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>806882106</cusip>
    <value>600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>17800</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Select Medical Holdings Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>81619Q105</cusip>
    <value>684</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>37700</None>
    </votingAuthority>
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    <nameOfIssuer>Sinclair Broadcast Group, Inc. Class A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>829226109</cusip>
    <value>759</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>23600</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Sotheby's Class A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>835898107</cusip>
    <value>804</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>14800</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SPX Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>784635104</cusip>
    <value>1027</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>29300</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Stifel Financial Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>860630102</cusip>
    <value>491</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>9400</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>SYNNEX Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87162W100</cusip>
    <value>695</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>7200</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Tailored Brands, Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87403A107</cusip>
    <value>743</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>29100</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Tech Data Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>878237106</cusip>
    <value>682</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>8300</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Tenet Healthcare Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88033G407</cusip>
    <value>739</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>22000</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Tetra Tech, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88162G103</cusip>
    <value>1053</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>18000</None>
    </votingAuthority>
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    <nameOfIssuer>The Greenbrier Companies, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>393657101</cusip>
    <value>934</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>17700</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>TopBuild Corp</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>89055F103</cusip>
    <value>729</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>9300</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Travelport Worldwide Ltd</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G9019D104</cusip>
    <value>743</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>40100</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>TriMas Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>896215209</cusip>
    <value>797</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>27100</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Trinseo S.A.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>L9340P101</cusip>
    <value>667</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>9400</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>TTM Technologies, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87305R109</cusip>
    <value>970</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>55000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Umpqua Holdings Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>904214103</cusip>
    <value>773</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>34200</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Unit Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>909218109</cusip>
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    <value>589</value>
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    <value>688</value>
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      <sshPrnamt>37000</sshPrnamt>
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      <None>37000</None>
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