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    <titleOfClass>COM</titleOfClass>
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    <cusip>00724F101</cusip>
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    <titleOfClass>COM</titleOfClass>
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    <titleOfClass>COM</titleOfClass>
    <cusip>011659109</cusip>
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    <titleOfClass>COM</titleOfClass>
    <cusip>015351109</cusip>
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    <titleOfClass>COM</titleOfClass>
    <cusip>02209S103</cusip>
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    <titleOfClass>COM</titleOfClass>
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    <titleOfClass>COM</titleOfClass>
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    <nameOfIssuer>Constellation Brands, Inc. Class A</nameOfIssuer>
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    <votingAuthority>
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      <None>0</None>
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    <nameOfIssuer>Visa Inc. Class A</nameOfIssuer>
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    <cusip>92826C839</cusip>
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    <votingAuthority>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>931142103</cusip>
    <value>22235</value>
    <shrsOrPrnAmt>
      <sshPrnamt>238700</sshPrnamt>
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    <votingAuthority>
      <Sole>238700</Sole>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>254687106</cusip>
    <value>7544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68800</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>92939U106</cusip>
    <value>11511</value>
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    <votingAuthority>
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      <None>0</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>949746101</cusip>
    <value>2548</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55300</sshPrnamt>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>55300</Sole>
      <Shared>0</Shared>
      <None>0</None>
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    <nameOfIssuer>AAR CORP.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>000361105</cusip>
    <value>504</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>13500</None>
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    <nameOfIssuer>Acadia Realty Trust</nameOfIssuer>
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    <cusip>004239109</cusip>
    <value>480</value>
    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>20200</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>00790R104</cusip>
    <value>553</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>22800</None>
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    <titleOfClass>COM</titleOfClass>
    <cusip>007973100</cusip>
    <value>412</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>9600</None>
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    <nameOfIssuer>Aegion Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00770F104</cusip>
    <value>405</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>24800</None>
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    <nameOfIssuer>ALLETE, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>018522300</cusip>
    <value>595</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>7800</None>
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    <nameOfIssuer>AMAG Pharmaceuticals, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00163U106</cusip>
    <value>368</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>24200</None>
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    <nameOfIssuer>Amedisys, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>023436108</cusip>
    <value>562</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>4800</None>
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    <nameOfIssuer>American Equity Investment Life Holding Company</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>025676206</cusip>
    <value>545</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>19500</None>
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    <nameOfIssuer>American Renal Associates</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>029227105</cusip>
    <value>423</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36739</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
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      <None>36739</None>
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    <nameOfIssuer>America's Car-Mart, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>03062T105</cusip>
    <value>601</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <None>8300</None>
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    <nameOfIssuer>Amkor Technology, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>031652100</cusip>
    <value>366</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
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      <None>55800</None>
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    <nameOfIssuer>Aspen Technology, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>045327103</cusip>
    <value>575</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>7000</None>
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    <nameOfIssuer>Banner Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>06652V208</cusip>
    <value>604</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <None>11300</None>
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    <nameOfIssuer>BioSpecifics Technologies Corp.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>090931106</cusip>
    <value>491</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8100</sshPrnamt>
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      <None>8100</None>
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    <nameOfIssuer>Boston Beer Company, Inc. Class A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>434</value>
    <shrsOrPrnAmt>
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      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
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      <Shared>0</Shared>
      <None>1800</None>
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    <nameOfIssuer>Bottomline Technologies (de), Inc.</nameOfIssuer>
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    <cusip>101388106</cusip>
    <value>566</value>
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      <sshPrnamt>11800</sshPrnamt>
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    <votingAuthority>
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      <None>11800</None>
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    <nameOfIssuer>CalAmp Corp.</nameOfIssuer>
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    <cusip>128126109</cusip>
    <value>453</value>
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      <sshPrnamt>34800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <None>34800</None>
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    <nameOfIssuer>Cara Therapeutics Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>140755109</cusip>
    <value>299</value>
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      <sshPrnamt>23000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <None>23000</None>
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    <nameOfIssuer>Cardiovascular Systems, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>141619106</cusip>
    <value>581</value>
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      <sshPrnamt>20400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Sole>0</Sole>
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      <None>20400</None>
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    <nameOfIssuer>Cardtronics plc Class A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G1991C105</cusip>
    <value>499</value>
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      <sshPrnamt>19200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>19200</None>
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    <nameOfIssuer>Carrizo Oil &amp; Gas, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>144577103</cusip>
    <value>211</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>18700</None>
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    <nameOfIssuer>Cerus Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>157085101</cusip>
    <value>593</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>116900</None>
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    <nameOfIssuer>Chemocentryx, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>16383L106</cusip>
    <value>421</value>
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      <sshPrnamt>38600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>38600</None>
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    <nameOfIssuer>Cirrus Logic, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>172755100</cusip>
    <value>392</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>11800</None>
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    <nameOfIssuer>CNO Financial Group, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12621E103</cusip>
    <value>518</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>34800</None>
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    <nameOfIssuer>Cogent Communications Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>19239V302</cusip>
    <value>570</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Shared>0</Shared>
      <None>12600</None>
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    <nameOfIssuer>CommVault Systems, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>204166102</cusip>
    <value>603</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>10200</None>
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    <nameOfIssuer>Continental Building Products, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>211171103</cusip>
    <value>606</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>23800</None>
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    <nameOfIssuer>Costamare Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>Y1771G102</cusip>
    <value>381</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>86900</None>
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    <nameOfIssuer>Covanta Holding Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>22282E102</cusip>
    <value>550</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>41000</None>
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    <nameOfIssuer>CSG Systems International, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>126349109</cusip>
    <value>505</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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      <None>15900</None>
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    <nameOfIssuer>CVR Energy, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>12662P108</cusip>
    <value>462</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13400</sshPrnamt>
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      <Shared>0</Shared>
      <None>13400</None>
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    <nameOfIssuer>CyrusOne, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>23283R100</cusip>
    <value>524</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>9900</None>
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      <Shared>0</Shared>
      <None>22200</None>
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    <nameOfIssuer>MCBC Holdings Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>57637H103</cusip>
    <value>307</value>
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      <sshPrnamt>16400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>16400</None>
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    <nameOfIssuer>MGIC Investment Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>552848103</cusip>
    <value>521</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>49800</None>
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    <nameOfIssuer>Minerals Technologies Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>603158106</cusip>
    <value>493</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>9600</None>
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    <nameOfIssuer>MKS Instruments, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>55306N104</cusip>
    <value>381</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>5900</None>
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    <nameOfIssuer>Movado Group, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>624580106</cusip>
    <value>487</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>15400</None>
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    <nameOfIssuer>National Health Investors, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>63633D104</cusip>
    <value>544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>7200</None>
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    <nameOfIssuer>National Storage Affiliates Trust</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>637870106</cusip>
    <value>579</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
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      <Shared>0</Shared>
      <None>21900</None>
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    <nameOfIssuer>Nelnet, Inc. Class A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>64031N108</cusip>
    <value>628</value>
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      <sshPrnamt>12000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>12000</None>
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    <nameOfIssuer>New Jersey Resources Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>646025106</cusip>
    <value>521</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>11400</None>
    </votingAuthority>
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    <nameOfIssuer>New Relic, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>64829B100</cusip>
    <value>599</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>0</Sole>
      <Shared>0</Shared>
      <None>7400</None>
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    <nameOfIssuer>NIC Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>62914B100</cusip>
    <value>600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <votingAuthority>
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      <Shared>0</Shared>
      <None>48100</None>
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    <nameOfIssuer>Oasis Petroleum Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>674215108</cusip>
    <value>221</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>39900</None>
    </votingAuthority>
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    <nameOfIssuer>Old Second Bancorp, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>680277100</cusip>
    <value>547</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>42100</None>
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    <nameOfIssuer>On Assignment, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00191U102</cusip>
    <value>441</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>8100</None>
    </votingAuthority>
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    <nameOfIssuer>Party City Holdco, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>702149105</cusip>
    <value>576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>57700</None>
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    <nameOfIssuer>Pebblebrook Hotel Trust</nameOfIssuer>
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    <value>527</value>
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      <sshPrnamt>18600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>18600</None>
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    <nameOfIssuer>Penn National Gaming, Inc.</nameOfIssuer>
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    <shrsOrPrnAmt>
      <sshPrnamt>24600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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      <None>24600</None>
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    <nameOfIssuer>PennyMac Financial Services, Inc. Class A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>70932M107</cusip>
    <value>606</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Shared>0</Shared>
      <None>28500</None>
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    <nameOfIssuer>PennyMac Mortgage Investment Trust</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
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    <value>523</value>
    <shrsOrPrnAmt>
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      <None>28100</None>
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    <nameOfIssuer>PGT, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69336V101</cusip>
    <value>433</value>
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      <sshPrnamt>27300</sshPrnamt>
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      <None>27300</None>
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    <nameOfIssuer>Phibro Animal Health Corporation Class A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>71742Q106</cusip>
    <value>315</value>
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      <None>9800</None>
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    <value>346</value>
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      <sshPrnamt>12100</sshPrnamt>
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      <None>12100</None>
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      <sshPrnamt>13200</sshPrnamt>
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      <None>13200</None>
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    <titleOfClass>COM</titleOfClass>
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    <value>614</value>
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      <sshPrnamt>17300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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      <None>17300</None>
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    <value>597</value>
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      <sshPrnamt>36800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>36800</None>
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    <nameOfIssuer>RadNet, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>750491102</cusip>
    <value>444</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>43700</None>
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    <nameOfIssuer>Regis Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>758932107</cusip>
    <value>578</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>34100</None>
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    <nameOfIssuer>Rexnord Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>76169B102</cusip>
    <value>530</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>23100</None>
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  <infoTable>
    <nameOfIssuer>RLJ Lodging Trust</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>74965L101</cusip>
    <value>494</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>30100</None>
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    <nameOfIssuer>Ruth's Hospitality Group, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>783332109</cusip>
    <value>482</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>21200</None>
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    <nameOfIssuer>Sanmina-SCI Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>801056102</cusip>
    <value>541</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>22500</None>
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  <infoTable>
    <nameOfIssuer>Schnitzer Steel Industries, Inc. Class A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>806882106</cusip>
    <value>422</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>19600</None>
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  <infoTable>
    <nameOfIssuer>Select Medical Holdings Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>81619Q105</cusip>
    <value>519</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>33800</None>
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  <infoTable>
    <nameOfIssuer>Sinclair Broadcast Group, Inc. Class A</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>829226109</cusip>
    <value>556</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <None>21100</None>
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  <infoTable>
    <nameOfIssuer>SkyWest, Inc</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>830879102</cusip>
    <value>520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>11700</None>
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  <infoTable>
    <nameOfIssuer>SYNNEX Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87162W100</cusip>
    <value>517</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
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      <Shared>0</Shared>
      <None>6400</None>
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  <infoTable>
    <nameOfIssuer>Tailored Brands, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>87403A107</cusip>
    <value>356</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <Shared>0</Shared>
      <None>26100</None>
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  <infoTable>
    <nameOfIssuer>Tech Data Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>878237106</cusip>
    <value>614</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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      <None>7500</None>
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  <infoTable>
    <nameOfIssuer>Tenet Healthcare Corporation</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88033G407</cusip>
    <value>410</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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      <None>23900</None>
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    <nameOfIssuer>Tetra Tech, Inc.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>88162G103</cusip>
    <value>533</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
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      <None>10300</None>
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  <infoTable>
    <nameOfIssuer>Travelport Worldwide Ltd.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>G9019D104</cusip>
    <value>559</value>
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      <None>33100</None>
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