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
ABBOTT LAB COM 002824100 543 7,400 SH   DFND 1 0 0 7,400
ADVANCED E COM 007973100 1,035 20,035 SH   SOLE   3,000 0 17,035
AETNA INC COM 00817Y108 2,150 10,600 SH   DFND 1 0 0 10,600
AFLAC INC COM 001055102 461 9,800 SH   DFND 1 0 0 9,800
ALCOA CORP COM 013872106 1,098 27,176 SH   SOLE   4,100 0 23,076
ALLSTATE C COM 020002101 1,300 13,168 SH   SOLE   2,000 0 11,168
ALLY FINAN COM 02005N100 1,239 46,843 SH   SOLE   7,800 0 39,043
AMC NETWOR COM 00164V103 1,254 18,899 SH   SOLE   3,238 0 15,661
AMERICAN F COM 025932104 3,684 33,200 SH   DFND 1 0 0 33,200
AMERIPRISE COM 03076C106 2,495 16,900 SH   DFND 1 0 0 16,900
APPLIED MA COM 038222105 973 25,186 SH   SOLE   3,700 0 21,486
ARCH COAL COM 039380407 1,335 14,931 SH   SOLE   2,481 0 12,450
ARTISAN PA COM 04316A108 1,251 38,600 SH   SOLE   5,700 0 32,900
ASSURANT I COM 04621X108 1,166 10,800 SH   DFND 1 0 0 10,800
BARRICK GO COM 067901108 263 23,800 SH   DFND 1 0 0 23,800
BCE INC COM 05534B760 785 19,400 SH   DFND 1 0 0 19,400
BORGWARNER COM 099724106 1,107 25,869 SH   SOLE   4,438 0 21,431
C&J ENERGY COM 12674R100 1,062 51,080 SH   SOLE   7,400 0 43,680
CAN IMPERI COM 136069101 799 8,543 SH   SOLE   0 0 8,543
CANADIAN N COM 136385101 1,119 34,300 SH   SOLE   0 0 34,300
CAPITAL ON COM 14040H105 1,258 13,252 SH   SOLE   2,300 0 10,952
CARDINAL H COM 14149Y108 1,188 22,000 SH   SOLE   0 0 22,000
CATERPILLA COM 149123101 1,328 8,707 SH   SOLE   1,300 0 7,407
CDW CORP/D COM 12514G108 1,294 14,549 SH   SOLE   2,482 0 12,067
CELESTICA COM 15101Q108 886 81,928 SH   SOLE   21,967 0 59,961
CELESTICA COM 15101Q108 1,656 153,200 SH   DFND 1 0 0 153,200
CHEVRON CO COM 166764100 489 4,000 SH   DFND 1 0 0 4,000
CHUBB LTD COM H1467J104 842 6,300 SH   DFND 1 0 0 6,300
CIGNA CORP COM 125509109 1,459 7,008 SH   SOLE   1,100 0 5,908
CISCO SYST COM 17275R102 1,099 22,600 SH   DFND 1 0 0 22,600
CITIGROUP COM 172967424 1,306 18,205 SH   SOLE   2,700 0 15,505
CONVERGYS COM 212485106 1,177 49,581 SH   SOLE   9,600 0 39,981
CUMMINS IN COM 231021106 1,314 8,995 SH   SOLE   1,296 0 7,699
CVS HEALTH COM 126650100 1,421 18,048 SH   SOLE   3,130 0 14,918
CVS HEALTH COM 126650100 874 11,100 SH   DFND 1 0 0 11,100
DEERE & CO COM 244199105 842 5,600 SH   DFND 1 0 0 5,600
DELTA AIR COM 247361702 1,342 23,202 SH   SOLE   3,400 0 19,802
DELUXE COR COM 248019101 1,022 17,942 SH   SOLE   2,700 0 15,242
DILLARDS I COM 254067101 687 9,000 SH   DFND 1 0 0 9,000
DOMTAR COR COM 257559203 1,423 27,276 SH   SOLE   4,590 0 22,686
EMCOR GROU COM 29084Q100 1,169 15,567 SH   SOLE   2,300 0 13,267
EXPRESS SC COM 30219G108 1,820 19,158 SH   SOLE   3,053 0 16,105
EXXON MOBI COM 30231G102 442 5,200 SH   DFND 1 0 0 5,200
FIAT CHRYS COM N31738102 10,644 607,888 SH   SOLE   16,705 0 591,183
FLEX LTD COM Y2573F102 1,107 84,400 SH   SOLE   12,900 0 71,500
FREEPORT-M COM 35671D857 429 30,800 SH   DFND 1 0 0 30,800
GAMESTOP C COM 36467W109 1,245 81,562 SH   SOLE   12,392 0 69,170
GENTEX COR COM 371901109 1,054 49,137 SH   SOLE   7,200 0 41,937
GILDAN ACT COM 375916103 1,169 38,500 SH   SOLE   0 0 38,500
GOLDMAN SA COM 38141G104 1,219 5,438 SH   SOLE   852 0 4,586
HD SUPPLY COM 40416M105 1,207 28,207 SH   SOLE   4,200 0 24,007
HOLLYFRONT COM 436106108 1,335 19,100 SH   DFND 1 0 0 19,100
HP INC COM 40434L105 1,339 51,966 SH   SOLE   7,700 0 44,266
HUMANA INC COM 444859102 1,659 4,900 SH   DFND 1 0 0 4,900
INTEL CORP COM 458140100 1,527 32,300 SH   DFND 1 0 0 32,300
INTL BUSIN COM 459200101 1,313 8,681 SH   SOLE   1,400 0 7,281
JABIL INC COM 466313103 1,233 45,547 SH   SOLE   6,800 0 38,747
JABIL INC COM 466313103 574 21,200 SH   DFND 1 0 0 21,200
KBR INC COM 48242W106 338 16,000 SH   DFND 1 0 0 16,000
KLA-TENCOR COM 482480100 1,129 11,100 SH   SOLE   1,600 0 9,500
KRONOS WOR COM 50105F105 388 23,900 SH   DFND 1 0 0 23,900
KT CORP-SP ADR 48268K101 1,124 75,700 SH   SOLE   10,300 0 65,400
LAM RESEAR COM 512807108 1,062 7,000 SH   SOLE   1,100 0 5,900
LEAR CORP COM 521865204 895 6,169 SH   SOLE   1,051 0 5,118
LEGG MASON COM 524901105 1,046 33,500 SH   SOLE   5,300 0 28,200
LINCOLN NA COM 534187109 1,286 19,012 SH   SOLE   2,972 0 16,040
LYONDELLBA COM N53745100 1,201 11,719 SH   SOLE   2,086 0 9,633
MACY'S INC COM 55616P104 1,086 31,260 SH   SOLE   5,400 0 25,860
MAGNA INTE COM 559222401 1,139 21,720 SH   SOLE   3,991 0 17,729
MAGNA INTE COM 559222401 1,725 32,900 SH   DFND 1 0 0 32,900
MATTEL INC COM 577081102 232 14,800 SH   DFND 1 0 0 14,800
MCKESSON C COM 58155Q103 1,140 8,596 SH   SOLE   1,400 0 7,196
MCKESSON C COM 58155Q103 703 5,300 SH   DFND 1 0 0 5,300
METLIFE IN COM 59156R108 1,248 26,721 SH   SOLE   4,516 0 22,205
MICHAELS C COM 59408Q106 1,057 65,123 SH   SOLE   10,000 0 55,123
MICRON TEC COM 595112103 940 20,777 SH   SOLE   3,800 0 16,977
NAVIENT CO COM 63938C108 1,245 92,388 SH   SOLE   13,600 0 78,788
NCR CORPOR COM 62886E108 1,123 39,535 SH   SOLE   6,300 0 33,235
NORBORD IN COM 65548P403 861 26,015 SH   SOLE   6,820 0 19,195
NUCOR CORP COM 670346105 1,159 18,269 SH   SOLE   3,558 0 14,711
OMNICOM GR COM 681919106 1,160 17,051 SH   SOLE   2,900 0 14,151
PARKER HAN COM 701094104 975 5,300 SH   DFND 1 0 0 5,300
PFIZER INC COM 717081103 1,617 36,700 SH   DFND 1 0 0 36,700
PRUDENTIAL COM 744320102 1,219 12,033 SH   SOLE   1,900 0 10,133
QURATE RET COM 74915M100 1,246 56,121 SH   SOLE   9,082 0 47,039
RADIAN GRO COM 750236101 719 34,800 SH   SOLE   0 0 34,800
REINSURANC COM 759351604 2,241 15,500 SH   DFND 1 0 0 15,500
RELIANCE S COM 759509102 1,135 13,302 SH   SOLE   2,000 0 11,302
SANMINA CO COM 801056102 1,132 41,000 SH   SOLE   7,000 0 34,000
SK TELECOM ADR 78440P108 1,308 46,900 SH   DFND 1 0 0 46,900
STATE STRE COM 857477103 888 10,600 SH   DFND 1 0 0 10,600
STEEL DYNA COM 858119100 1,196 26,457 SH   SOLE   3,900 0 22,557
STIFEL FIN COM 860630102 1,097 21,400 SH   SOLE   0 0 21,400
SUNCOR ENE COM 867224107 1,534 39,700 SH   DFND 1 0 0 39,700
SYNAPTICS COM 87157D109 1,068 23,414 SH   SOLE   5,651 0 17,763
SYNCHRONY COM 87165B103 1,117 35,952 SH   SOLE   5,200 0 30,752
TECK RESOU COM 878742204 1,181 49,076 SH   SOLE   8,765 0 40,311
THOR INDUS COM 885160101 1,027 12,268 SH   SOLE   2,100 0 10,168
TOLL BROTH COM 889478103 320 9,700 SH   SOLE   0 0 9,700
TORCHMARK COM 891027104 1,599 18,450 SH   DFND 1 0 0 18,450
TUPPERWARE COM 899896104 968 28,942 SH   SOLE   4,100 0 24,842
TYSON FOOD COM 902494103 2,244 37,700 SH   DFND 1 0 0 37,700
UBS GROUP COM H42097107 1,936 121,920 SH   SOLE   0 0 121,920
UNITED MIC ADR 910873405 929 360,200 SH   DFND 1 0 0 360,200
UNITED THE COM 91307C102 1,302 10,183 SH   SOLE   1,561 0 8,622
UNITEDHEAL COM 91324P102 6,571 24,700 SH   DFND 1 0 0 24,700
UNUM GROUP COM 91529Y106 1,266 32,400 SH   SOLE   5,500 0 26,900
VENATOR MA COM G9329Z100 668 74,217 SH   SOLE   10,800 0 63,417
VIACOM INC COM 92553P201 1,390 41,174 SH   SOLE   7,200 0 33,974
VISHAY INT COM 928298108 931 45,744 SH   DFND 1 0 0 45,744
WALGREENS COM 931427108 1,380 18,930 SH   SOLE   2,800 0 16,130
WELLS FARG COM 949746101 851 16,200 SH   DFND 1 0 0 16,200
WESTERN DI COM 958102105 888 15,163 SH   SOLE   2,300 0 12,863
WHIRLPOOL COM 963320106 988 8,322 SH   SOLE   1,200 0 7,122
WHIRLPOOL COM 963320106 1,033 8,700 SH   DFND 1 0 0 8,700