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
ADVANCE AUTO PARTS INC COM 00751Y106 3,507 21,700 SH   OTR 1 21,700 0 0
ALLEGHANY CORP DEL COM 017175100 9,453 17,200 SH   OTR 1 17,200 0 0
ALLIANCE DATA SYSTEMS CORP COM 018581108 607 3,100 SH   OTR 1 3,100 0 0
ALLY FINL INC COM 02005N100 522 30,600 SH   OTR 1 30,600 0 0
ALTRIA GROUP INC COM 02209S103 7,530 109,200 SH   OTR 1 109,200 0 0
AMERICAN WTR WKS CO INC NEW COM 030420103 14,629 173,100 SH   OTR 1 173,100 0 0
ARCH CAP GROUP LTD ORD G0450A105 22,046 306,200 SH   OTR 1 306,200 0 0
AUTOZONE INC COM 053332102 8,018 10,100 SH   OTR 1 10,100 0 0
AXALTA COATING SYS LTD COM G0750C108 6,156 232,040 SH   OTR 1 232,040 0 0
AXIS CAPITAL HOLDINGS LTD SHS G0692U109 556 10,100 SH   OTR 1 10,100 0 0
BARCLAYS BANK PLC SP ADR 7.1%PF3 06739H776 5,231 203,221 SH   OTR 2 203,221 0 0
BARCLAYS BANK PLC ADR PFD SR 5 06739H362 4,900 189,542 SH   OTR 2 189,542 0 0
BARD C R INC COM 067383109 800 3,400 SH   OTR 1 3,400 0 0
BED BATH & BEYOND INC COM 075896100 7,036 162,800 SH   OTR 1 162,800 0 0
BERKLEY W R CORP COM 084423102 9,863 164,600 SH   OTR 1 164,600 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 14,957 103,300 SH   OTR 1 103,300 0 0
BOSTON PROPERTIES INC COM 101121101 607 4,600 SH   OTR 1 4,600 0 0
BUNGE LIMITED COM G16962105 5,596 94,600 SH   OTR 1 94,600 0 0
CABELAS INC COM 126804301 2,772 55,380 SH   OTR 1 55,380 0 0
CHIPOTLE MEXICAN GRILL INC COM 169656105 4,632 11,500 SH   OTR 1 11,500 0 0
CHURCH & DWIGHT INC COM 171340102 10,793 104,900 SH   OTR 1 104,900 0 0
CITIZENS FINL GROUP INC COM 174610105 412 20,600 SH   OTR 1 20,600 0 0
CLOROX CO DEL COM 189054109 11,223 81,100 SH   OTR 1 81,100 0 0
COLGATE PALMOLIVE CO COM 194162103 9,318 127,300 SH   OTR 1 127,300 0 0
CONSOLIDATED EDISON INC COM 209115104 8,028 99,800 SH   OTR 1 99,800 0 0
CONSTELLATION BRANDS INC CL A 21036P108 1,505 9,100 SH   OTR 1 9,100 0 0
COOPER COS INC COM NEW 216648402 9,385 54,700 SH   OTR 1 54,700 0 0
COPART INC COM 217204106 5,577 113,800 SH   OTR 1 113,800 0 0
DAVITA HEALTHCARE PARTNERS I COM 23918K108 15,025 194,320 SH   OTR 1 194,320 0 0
DISCOVERY COMMUNICATNS NEW COM SER A 25470F104 2,493 98,800 SH   OTR 1 98,800 0 0
DISCOVERY COMMUNICATNS NEW COM SER C 25470F302 5,104 214,000 SH   OTR 1 214,000 0 0
DOLLAR TREE INC COM 256746108 4,064 43,120 SH   OTR 1 43,120 0 0
DOLLAR GEN CORP NEW COM 256677105 8,018 85,300 SH   OTR 1 85,300 0 0
DUKE ENERGY CORP NEW COM NEW 26441C204 9,651 112,500 SH   OTR 1 112,500 0 0
EBAY INC COM 278642103 976 41,700 SH   OTR 1 41,700 0 0
EDGEWELL PERS CARE CO COM 28035Q102 363 4,300 SH   OTR 1 4,300 0 0
EDISON INTL COM 281020107 11,037 142,100 SH   OTR 1 142,100 0 0
ENERGIZER HLDGS INC NEW COM 29272W109 221 4,300 SH   OTR 1 4,300 0 0
ENTERGY CORP NEW COM 29364G103 9,900 121,700 SH   OTR 1 121,700 0 0
ENVISION HEALTHCARE HLDGS IN COM 29413U103 4,232 166,800 SH   OTR 1 166,800 0 0
EVERSOURCE ENERGY COM 30040W108 9,356 156,200 SH   OTR 1 156,200 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 3,029 39,964 SH   OTR 1 39,964 0 0
FISERV INC COM 337738108 15,755 144,900 SH   OTR 1 144,900 0 0
FITBIT INC CL A 33812L102 16,312 1,334,839 SH   SOLE   1,334,839 0 0
FMC TECHNOLOGIES INC COM 30249U101 2,563 96,100 SH   OTR 1 96,100 0 0
FOSSIL GROUP INC COM 34988V106 1,347 47,200 SH   OTR 1 47,200 0 0
GENERAL MTRS CO COM 37045V100 5,086 179,705 SH   SOLE   179,705 0 0
GLOBALSTAR INC COM 378973408 5,027 4,154,400 SH   SOLE   4,154,400 0 0
HCP INC COM 40414L109 3,248 91,800 SH   OTR 1 91,800 0 0
HSBC HLDGS PLC NOTE 6.875%12/2 404280BC2 5,532 5,560,000 PRN   OTR 2 5,560,000 0 0
IHS INC CL A 451734107 8,023 69,400 SH   OTR 1 69,400 0 0
ING GROEP N V DBCV 6.500%12/2 456837AF0 4,942 5,405,000 PRN   OTR 2 5,405,000 0 0
INTUITIVE SURGICAL INC COM NEW 46120E602 10,781 16,300 SH   OTR 1 16,300 0 0
KIMBERLY CLARK CORP COM 494368103 10,778 78,400 SH   OTR 1 78,400 0 0
KIRBY CORP COM 497266106 3,194 51,200 SH   OTR 1 51,200 0 0
KLX INC COM 482539103 122 3,950 SH   OTR 1 3,950 0 0
LABORATORY CORP AMER HLDGS COM NEW 50540R409 16,646 127,782 SH   OTR 1 127,782 0 0
LKQ CORP COM 501889208 6,663 210,200 SH   OTR 1 210,200 0 0
LULULEMON ATHLETICA INC COM 550021109 2,408 32,600 SH   OTR 1 32,600 0 0
MARKEL CORP COM 570535104 23,438 24,600 SH   OTR 1 24,600 0 0
MCCORMICK & CO INC COM NON VTG 579780206 9,259 86,800 SH   OTR 1 86,800 0 0
MEDNAX INC COM 58502B106 6,171 85,200 SH   OTR 1 85,200 0 0
MICHAEL KORS HLDGS LTD SHS G60754101 2,514 50,800 SH   OTR 1 50,800 0 0
NEW YORK CMNTY BANCORP INC COM 649445103 315 21,000 SH   OTR 1 21,000 0 0
NORDSTROM INC COM 655664100 4,052 106,500 SH   OTR 1 106,500 0 0
NVR INC COM 62944T105 10,682 6,000 SH   OTR 1 6,000 0 0
O REILLY AUTOMOTIVE INC NEW COM 67103H107 9,055 33,400 SH   OTR 1 33,400 0 0
PANERA BREAD CO CL A 69840W108 13,789 65,060 SH   OTR 1 65,060 0 0
PAYPAL HLDGS INC COM 70450Y103 135 3,700 SH   OTR 1 3,700 0 0
PEOPLES UNITED FINANCIAL INC COM 712704105 3,089 210,700 SH   OTR 1 210,700 0 0
PREMIER INC CL A 74051N102 3,217 98,380 SH   OTR 1 98,380 0 0
QUALCOMM INC COM 747525103 50,180 936,719 SH   SOLE   936,719 0 0
RALPH LAUREN CORP CL A 751212101 1,255 14,000 SH   OTR 1 14,000 0 0
RAYONIER INC COM 754907103 4,692 178,800 SH   OTR 1 178,800 0 0
RENAISSANCERE HOLDINGS LTD COM G7496G103 8,714 74,200 SH   OTR 1 74,200 0 0
ROYAL BK OF SCOTLAND PLC NOTE 8.000%12/3 780099CK1 2,331 2,500,000 PRN   OTR 2 2,500,000 0 0
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF T 780097713 18,584 737,148 SH   OTR 2 737,148 0 0
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF S 780097739 1,412 56,400 SH   OTR 2 56,400 0 0
ROYAL BK SCOTLAND GROUP PLC SPON ADR SER H 780097879 5,427 213,067 SH   OTR 2 213,067 0 0
SALLY BEAUTY HLDGS INC COM 79546E104 6,804 231,360 SH   OTR 1 231,360 0 0
SBA COMMUNICATIONS CORP COM 78388J106 13,287 123,100 SH   OTR 1 123,100 0 0
SCHEIN HENRY INC COM 806407102 18,458 104,400 SH   OTR 1 104,400 0 0
SCRIPPS NETWORKS INTERACT IN CL A COM 811065101 7,416 119,100 SH   OTR 1 119,100 0 0
SIRIUS XM HLDGS INC COM 82968B103 8,572 2,170,000 SH   OTR 1 2,170,000 0 0
SOUTHERN CO COM 842587107 10,383 193,600 SH   OTR 1 193,600 0 0
STERICYCLE INC COM 858912108 11,693 112,300 SH   OTR 1 112,300 0 0
SYNCHRONY FINL COM 87165B103 6,949 274,900 SH   OTR 1 274,900 0 0
SYSCO CORP COM 871829107 5,120 100,900 SH   OTR 1 100,900 0 0
TERADATA CORP DEL COM 88076W103 6,739 268,800 SH   OTR 1 268,800 0 0
ULTA SALON COSMETCS & FRAG I COM 90384S303 12,645 51,900 SH   OTR 1 51,900 0 0
URBAN OUTFITTERS INC COM 917047102 7,817 284,240 SH   OTR 1 284,240 0 0
VARIAN MED SYS INC COM 92220P105 12,236 148,800 SH   OTR 1 148,800 0 0
VERISIGN INC COM 92343E102 10,747 124,300 SH   OTR 1 124,300 0 0
VERISK ANALYTICS INC COM 92345Y106 1,005 12,400 SH   OTR 1 12,400 0 0
WATERS CORP COM 941848103 5,007 35,600 SH   OTR 1 35,600 0 0
WEYERHAEUSER CO COM 962166104 9,384 315,200 SH   OTR 1 315,200 0 0
WHOLE FOODS MKT INC COM 966837106 3,794 118,500 SH   OTR 1 118,500 0 0
WMIH CORP COM 92936P100 1 313 SH   OTR 2 313 0 0
XCEL ENERGY INC COM 98389B100 11,410 254,800 SH   OTR 1 254,800 0 0
XL GROUP PLC SHS G98290102 5,183 155,600 SH   OTR 1 155,600 0 0