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
SK TELECOM LTD SPONSORED ADR 78440P108 452 19,385 SH   DFND   19,385 0 0
ERICSSON ADR B SEK 10 294821608 289 37,700 SH   DFND   37,700 0 0
SOUTHWESTERN ENERGY CO COM 845467109 125 23,553 SH   DFND   23,553 0 0
STERICYCLE INC COM 858912108 689 10,560 SH   DFND   10,560 0 0
WEATHERFORD INTL PLC ORD SHS G48833100 45 13,699 SH   DFND   13,699 0 0
STMICROELECTRONICS N V NY REGISTRY 861012102 338 15,301 SH   DFND   15,301 0 0
KROGER CO COM 501044101 856 30,100 SH   DFND   30,100 0 0
BALL CORP COM 058498106 204 5,739 SH   DFND   5,739 0 0
MYLAN N V SHS EURO N59465109 441 12,200 SH   DFND   12,200 0 0
SHIRE PLC SPONSORED ADR 82481R106 479 2,837 SH   DFND   2,837 0 0
SVB FINL GROUP COM 78486Q101 424 1,470 SH   DFND   1,470 0 0
BORGWARNER INC COM 099724106 209 4,841 SH   DFND   4,841 0 0
BROWN FORMAN CORP CL B 115637209 478 9,744 SH   DFND   9,744 0 0
EQUIFAX INC COM 294429105 683 5,458 SH   DFND   5,458 0 0
QIAGEN NV SHS NEW N72482123 215 5,945 SH   DFND   5,945 0 0
SIGNET JEWELERS LIMITED SHS G81276100 563 10,090 SH   DFND   10,090 0 0
ALEXION PHARMACEUTICALS INC COM 015351109 244 1,967 SH   DFND   1,967 0 0
NIKE INC CL B 654106103 2,224 27,911 SH   DFND   27,911 0 0
SEMPRA ENERGY COM 816851109 790 6,800 SH   DFND   6,800 0 0
EAST WEST BANCORP INC COM 27579R104 312 4,782 SH   DFND   4,782 0 0
RITE AID CORP COM 767754104 133 76,997 SH   DFND   76,997 0 0
PROGRESSIVE CORP OHIO COM 743315103 243 4,100 SH   DFND   4,100 0 0
TOYOTA MOTOR CORP SP ADR REP2COM 892331307 356 2,765 SH   DFND   2,765 0 0
M & T BK CORP COM 55261F104 1,012 5,947 SH   DFND   5,947 0 0
REINSURANCE GROUP AMER INC COM NEW 759351604 776 5,815 SH   DFND   5,815 0 0
UNITED PARCEL SERVICE INC CL B 911312106 449 4,224 SH   DFND   4,224 0 0
DAVITA INC COM 23918K108 1,212 17,454 SH   DFND   17,454 0 0
ALLERGAN PLC SHS G0177J108 250 1,500 SH   DFND   1,500 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 318 1,706 SH   DFND   1,706 0 0
NORTHROP GRUMMAN CORP COM 666807102 337 1,095 SH   DFND   1,095 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 735 12,250 SH   DFND   12,250 0 0
FOREST CITY RLTY TR INC COM CL A 345605109 2,519 110,418 SH   DFND   110,418 0 0
PRICE T ROWE GROUP INC COM 74144T108 269 2,318 SH   DFND   2,318 0 0
SCHWAB CHARLES CORP NEW COM 808513105 279 5,459 SH   DFND   5,459 0 0
MEDNAX INC COM 58502B106 410 9,468 SH   DFND   9,468 0 0
TIFFANY & CO NEW COM 886547108 1,209 9,185 SH   DFND   9,185 0 0
AFLAC INC COM 001055102 201 4,671 SH   DFND   4,671 0 0
BOEING CO COM 097023105 276 824 SH   DFND   824 0 0
BAXTER INTL INC COM 071813109 222 3,009 SH   DFND   3,009 0 0
CUMMINS INC COM 231021106 253 1,900 SH   DFND   1,900 0 0
QUEST DIAGNOSTICS INC COM 74834L100 671 6,105 SH   DFND   6,105 0 0
DARDEN RESTAURANTS INC COM 237194105 2,209 20,637 SH   DFND   20,637 0 0
XEROX CORP COM NEW 984121608 406 16,898 SH   DFND   16,898 0 0
CVS HEALTH CORP COM 126650100 761 11,829 SH   DFND   11,829 0 0
LENNOX INTL INC COM 526107107 224 1,120 SH   DFND   1,120 0 0
APPLE INC COM 037833100 204 1,100 SH   DFND   1,100 0 0
INTL PAPER CO COM 460146103 276 5,300 SH   DFND   5,300 0 0
APTARGROUP INC COM 038336103 289 3,098 SH   DFND   3,098 0 0
WELLS FARGO CO NEW COM 949746101 2,460 44,380 SH   DFND   44,380 0 0
INTERNATIONAL GAME TECHNOLOG SHS USD G4863A108 216 9,304 SH   DFND   9,304 0 0
TWENTY FIRST CENTY FOX INC CL A 90130A101 838 16,857 SH   DFND   16,857 0 0
DDR CORP COM 23317H854 281 15,700 SH   DFND   15,700 0 0
ELECTRONIC ARTS INC COM 285512109 212 1,500 SH   DFND   1,500 0 0
AVNET INC COM 053807103 2,454 57,208 SH   DFND   57,208 0 0
BIOMARIN PHARMACEUTICAL INC COM 09061G101 1,418 15,049 SH   DFND   15,049 0 0
GENERAL ELECTRIC CO COM 369604103 599 44,000 SH   DFND   44,000 0 0
TD AMERITRADE HLDG CORP COM 87236Y108 299 5,459 SH   DFND   5,459 0 0
NOKIA CORP SPONSORED ADR 654902204 108 18,803 SH   DFND   18,803 0 0
BOSTON SCIENTIFIC CORP COM 101137107 303 9,256 SH   DFND   9,256 0 0
GRAINGER W W INC COM 384802104 247 800 SH   DFND   800 0 0
CARDINAL HEALTH INC COM 14149Y108 1,905 39,018 SH   DFND   39,018 0 0
XL GROUP LTD COM G98294104 557 9,954 SH   DFND   9,954 0 0
DENTSPLY SIRONA INC COM 24906P109 223 5,100 SH   DFND   5,100 0 0
RALPH LAUREN CORP CL A 751212101 964 7,669 SH   DFND   7,669 0 0
CSX CORP COM 126408103 251 3,930 SH   DFND   3,930 0 0
TRAVELERS COMPANIES INC COM 89417E109 221 1,808 SH   DFND   1,808 0 0
ASHLAND GLOBAL HLDGS INC COM 044186104 209 2,673 SH   DFND   2,673 0 0
FRONTIER COMMUNICATIONS CORP COM NEW 35906A306 379 70,676 SH   DFND   70,676 0 0
HOLOGIC INC COM 436440101 287 7,213 SH   DFND   7,213 0 0
BLACKROCK INC COM 09247X101 250 500 SH   DFND   500 0 0
MCKESSON CORP COM 58155Q103 736 5,518 SH   DFND   5,518 0 0
VERTEX PHARMACEUTICALS INC COM 92532F100 2,996 17,630 SH   DFND   17,630 0 0
AMERISOURCEBERGEN CORP COM 03073E105 559 6,555 SH   DFND   6,555 0 0
COMMERCE BANCSHARES INC COM 200525103 273 4,214 SH   DFND   4,214 0 0
AMBEV SA SPONSORED ADR 02319V103 969 209,205 SH   DFND   209,205 0 0
EATON CORP PLC SHS G29183103 372 4,980 SH   DFND   4,980 0 0
AUTOLIV INC COM 052800109 259 1,808 SH   DFND   1,808 0 0
LABORATORY CORP AMER HLDGS COM NEW 50540R409 397 2,214 SH   DFND   2,214 0 0
LOWES COS INC COM 548661107 1,195 12,505 SH   DFND   12,505 0 0
CARMAX INC COM 143130102 4,299 58,995 SH   DFND   58,995 0 0
AMERICAN EXPRESS CO COM 025816109 235 2,400 SH   DFND   2,400 0 0
CELGENE CORP COM 151020104 469 5,900 SH   DFND   5,900 0 0
FOOT LOCKER INC COM 344849104 1,267 24,062 SH   DFND   24,062 0 0
MAGNA INTL INC COM 559222401 274 4,711 SH   DFND   4,711 0 0
ANADARKO PETE CORP COM 032511107 316 4,312 SH   DFND   4,312 0 0
TJX COS INC NEW COM 872540109 290 3,051 SH   DFND   3,051 0 0
JACOBS ENGR GROUP INC DEL COM 469814107 279 4,396 SH   DFND   4,396 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 342 4,431 SH   DFND   4,431 0 0
MCDONALDS CORP COM 580135101 705 4,499 SH   DFND   4,499 0 0
NORFOLK SOUTHERN CORP COM 655844108 274 1,814 SH   DFND   1,814 0 0
TORO CO COM 891092108 415 6,891 SH   DFND   6,891 0 0
ARCH CAP GROUP LTD ORD G0450A105 275 10,382 SH   DFND   10,382 0 0
BED BATH & BEYOND INC COM 075896100 295 14,788 SH   DFND   14,788 0 0
PVH CORP COM 693656100 256 1,713 SH   DFND   1,713 0 0
MARRIOTT INTL INC NEW CL A 571903202 249 1,969 SH   DFND   1,969 0 0
MACYS INC COM 55616P104 273 7,300 SH   DFND   7,300 0 0
ANDEAVOR COM 03349M105 327 2,492 SH   DFND   2,492 0 0
HP INC COM 40434L105 210 9,275 SH   DFND   9,275 0 0
FEDEX CORP COM 31428X106 501 2,207 SH   DFND   2,207 0 0
INTEL CORP COM 458140100 424 8,529 SH   DFND   8,529 0 0
NOVARTIS A G SPONSORED ADR 66987V109 272 3,596 SH   DFND   3,596 0 0
POSCO SPONSORED ADR 693483109 261 3,524 SH   DFND   3,524 0 0
CARNIVAL CORP UNIT 99/99/9999 143658300 1,104 19,257 SH   DFND   19,257 0 0