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 4,113 21,700 SH   OTR 1 21,700 0 0
ALLEGHANY CORP DEL COM 017175100 8,051 17,200 SH   OTR 1 17,200 0 0
ALLIANCE DATA SYSTEMS CORP COM 018581108 803 3,100 SH   OTR 1 3,100 0 0
AMERICAN WTR WKS CO INC NEW COM 030420103 9,534 173,100 SH   OTR 1 173,100 0 0
ARCH CAP GROUP LTD ORD G0450A105 23,973 326,300 SH   OTR 1 326,300 0 0
AUTOZONE INC COM 053332102 7,311 10,100 SH   OTR 1 10,100 0 0
AXALTA COATING SYS LTD COM G0750C108 5,880 232,040 SH   OTR 1 232,040 0 0
BARCLAYS BANK PLC ADS7.75%PFD S4 06739H511 779 30,146 SH   OTR 2 30,146 0 0
BARCLAYS BANK PLC SP ADR 7.1%PF3 06739H776 5,202 203,221 SH   OTR 2 203,221 0 0
BARCLAYS BANK PLC ADR PFD SR 5 06739H362 2,725 105,342 SH   OTR 2 105,342 0 0
BARD C R INC COM 067383109 633 3,400 SH   OTR 1 3,400 0 0
BED BATH & BEYOND INC COM 075896100 9,283 162,800 SH   OTR 1 162,800 0 0
BERKLEY W R CORP COM 084423102 8,949 164,600 SH   OTR 1 164,600 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 13,470 103,300 SH   OTR 1 103,300 0 0
BOSTON PROPERTIES INC COM 101121101 545 4,600 SH   OTR 1 4,600 0 0
BUNGE LIMITED COM G16962105 6,934 94,600 SH   OTR 1 94,600 0 0
CABELAS INC COM 126804301 2,525 55,380 SH   OTR 1 55,380 0 0
CHIPOTLE MEXICAN GRILL INC COM 169656105 8,283 11,500 SH   OTR 1 11,500 0 0
CHURCH & DWIGHT INC COM 171340102 8,801 104,900 SH   OTR 1 104,900 0 0
CITIZENS FINL GROUP INC COM 174610105 492 20,600 SH   OTR 1 20,600 0 0
CLOROX CO DEL COM 189054109 9,369 81,100 SH   OTR 1 81,100 0 0
COLGATE PALMOLIVE CO COM 194162103 8,078 127,300 SH   OTR 1 127,300 0 0
CONSOLIDATED EDISON INC COM 209115104 6,672 99,800 SH   OTR 1 99,800 0 0
CONSTELLATION BRANDS INC CL A 21036P108 1,139 9,100 SH   OTR 1 9,100 0 0
COOPER COS INC COM NEW 216648402 8,143 54,700 SH   OTR 1 54,700 0 0
COPART INC COM 217204106 3,744 113,800 SH   OTR 1 113,800 0 0
DAVITA HEALTHCARE PARTNERS I COM 23918K108 14,055 194,320 SH   OTR 1 194,320 0 0
DIAMOND OFFSHORE DRILLING IN COM 25271C102 2,855 165,000 SH   OTR 1 165,000 0 0
DISCOVERY COMMUNICATNS NEW COM SER A 25470F104 2,572 98,800 SH   OTR 1 98,800 0 0
DISCOVERY COMMUNICATNS NEW COM SER C 25470F302 5,198 214,000 SH   OTR 1 214,000 0 0
DOLLAR TREE INC COM 256746108 2,874 43,120 SH   OTR 1 43,120 0 0
DUKE ENERGY CORP NEW COM NEW 26441C204 8,093 112,500 SH   OTR 1 112,500 0 0
EBAY INC COM 278642103 1,019 41,700 SH   OTR 1 41,700 0 0
EDGEWELL PERS CARE CO COM 28035Q102 351 4,300 SH   OTR 1 4,300 0 0
EDISON INTL COM 281020107 8,962 142,100 SH   OTR 1 142,100 0 0
ENDO INTL PLC SHS G30401106 714 10,300 SH   OTR 1 10,300 0 0
ENERGIZER HLDGS INC NEW COM 29272W109 166 4,300 SH   OTR 1 4,300 0 0
ENTERGY CORP NEW COM 29364G103 7,923 121,700 SH   OTR 1 121,700 0 0
ENVISION HEALTHCARE HLDGS IN COM 29413U103 6,137 166,800 SH   OTR 1 166,800 0 0
EVERSOURCE ENERGY COM 30040W108 7,907 156,200 SH   OTR 1 156,200 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 3,235 39,964 SH   OTR 1 39,964 0 0
FISERV INC COM 337738108 12,550 144,900 SH   OTR 1 144,900 0 0
FITBIT INC CL A 33812L102 121,364 3,220,047 SH   SOLE   3,220,047 0 0
FMC TECHNOLOGIES INC COM 30249U101 3,590 115,800 SH   OTR 1 115,800 0 0
FOSSIL GROUP INC COM 34988V106 2,638 47,200 SH   OTR 1 47,200 0 0
GLOBALSTAR INC COM 378973408 6,522 4,154,400 SH   SOLE   4,154,400 0 0
GOOGLE INC CL A 38259P508 894 1,400 SH   OTR 1 1,400 0 0
GOOGLE INC CL C 38259P706 1,328 2,182 SH   OTR 1 2,182 0 0
HASBRO INC COM 418056107 2,352 32,600 SH   OTR 1 32,600 0 0
HCP INC COM 40414L109 3,911 105,000 SH   OTR 1 105,000 0 0
IHS INC CL A 451734107 8,050 69,400 SH   OTR 1 69,400 0 0
INTUITIVE SURGICAL INC COM NEW 46120E602 7,491 16,300 SH   OTR 1 16,300 0 0
ISHARES IBOXX HI YD ETF 464288513 10,528 126,400 SH Put OTR 3 126,400 0 0
ISHARES TR 20+ YR TR BD ETF 464287432 135,461 1,096,500 SH Put OTR 3 1,096,500 0 0
KIMBERLY CLARK CORP COM 494368103 8,549 78,400 SH   OTR 1 78,400 0 0
KIRBY CORP COM 497266106 3,172 51,200 SH   OTR 1 51,200 0 0
KLX INC COM 482539103 141 3,950 SH   OTR 1 3,950 0 0
LABORATORY CORP AMER HLDGS COM NEW 50540R409 13,861 127,782 SH   OTR 1 127,782 0 0
LKQ CORP COM 501889208 5,961 210,200 SH   OTR 1 210,200 0 0
LULULEMON ATHLETICA INC COM 550021109 1,651 32,600 SH   OTR 1 32,600 0 0
MARKEL CORP COM 570535104 19,726 24,600 SH   OTR 1 24,600 0 0
MCCORMICK & CO INC COM NON VTG 579780206 7,133 86,800 SH   OTR 1 86,800 0 0
MICHAEL KORS HLDGS LTD SHS G60754101 2,146 50,800 SH   OTR 1 50,800 0 0
NEW YORK CMNTY BANCORP INC COM 649445103 2,093 115,900 SH   OTR 1 115,900 0 0
NORDSTROM INC COM 655664100 7,637 106,500 SH   OTR 1 106,500 0 0
NVR INC COM 62944T105 9,151 6,000 SH   OTR 1 6,000 0 0
O REILLY AUTOMOTIVE INC NEW COM 67103H107 8,350 33,400 SH   OTR 1 33,400 0 0
PANERA BREAD CO CL A 69840W108 12,583 65,060 SH   OTR 1 65,060 0 0
PARTNERRE LTD COM G6852T105 4,722 34,000 SH   OTR 1 34,000 0 0
PAYPAL HLDGS INC COM 70450Y103 3,576 115,200 SH   OTR 1 115,200 0 0
PEOPLES UNITED FINANCIAL INC COM 712704105 3,314 210,700 SH   OTR 1 210,700 0 0
PLUM CREEK TIMBER CO INC COM 729251108 7,783 197,000 SH   OTR 1 197,000 0 0
PREMIER INC CL A 74051N102 3,381 98,380 SH   OTR 1 98,380 0 0
QUALCOMM INC COM 747525103 59,335 1,104,309 SH   SOLE   1,104,309 0 0
RALPH LAUREN CORP CL A 751212101 1,654 14,000 SH   OTR 1 14,000 0 0
RAYONIER INC COM 754907103 3,946 178,800 SH   OTR 1 178,800 0 0
RENAISSANCERE HOLDINGS LTD COM G7496G103 5,879 55,300 SH   OTR 1 55,300 0 0
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF S 780097739 1,411 56,400 SH   OTR 2 56,400 0 0
ROYAL BK SCOTLAND GROUP PLC SPON ADR SER H 780097879 5,403 213,067 SH   OTR 2 213,067 0 0
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF T 780097713 19,481 772,148 SH   OTR 2 772,148 0 0
SALLY BEAUTY HLDGS INC COM 79546E104 5,495 231,360 SH   OTR 1 231,360 0 0
SBA COMMUNICATIONS CORP COM 78388J106 12,893 123,100 SH   OTR 1 123,100 0 0
SCHEIN HENRY INC COM 806407102 13,856 104,400 SH   OTR 1 104,400 0 0
SCRIPPS NETWORKS INTERACT IN CL A COM 811065101 5,859 119,100 SH   OTR 1 119,100 0 0
SIRIUS XM HLDGS INC COM 82968B103 8,116 2,170,000 SH   OTR 1 2,170,000 0 0
SOUTHERN CO COM 842587107 8,654 193,600 SH   OTR 1 193,600 0 0
STERICYCLE INC COM 858912108 15,645 112,300 SH   OTR 1 112,300 0 0
SYNCHRONY FINL COM 87165B103 8,604 274,900 SH   OTR 1 274,900 0 0
SYSCO CORP COM 871829107 3,932 100,900 SH   OTR 1 100,900 0 0
TERADATA CORP DEL COM 88076W103 7,784 268,800 SH   OTR 1 268,800 0 0
ULTA SALON COSMETCS & FRAG I COM 90384S303 8,478 51,900 SH   OTR 1 51,900 0 0
URBAN OUTFITTERS INC COM 917047102 8,351 284,240 SH   OTR 1 284,240 0 0
VARIAN MED SYS INC COM 92220P105 10,978 148,800 SH   OTR 1 148,800 0 0
VERISIGN INC COM 92343E102 8,771 124,300 SH   OTR 1 124,300 0 0
VERISK ANALYTICS INC COM 92345Y106 916 12,400 SH   OTR 1 12,400 0 0
WATERS CORP COM 941848103 4,208 35,600 SH   OTR 1 35,600 0 0
WHOLE FOODS MKT INC COM 966837106 1,029 32,500 SH   OTR 1 32,500 0 0
WMIH CORP COM 92936P100 1 313 SH   OTR 2 313 0 0
XCEL ENERGY INC COM 98389B100 9,022 254,800 SH   OTR 1 254,800 0 0
XL GROUP PLC SHS G98290102 5,651 155,600 SH   OTR 1 155,600 0 0