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 LABS COM 002824100 545 12,100 SH   OTR 1 12,100 0 0
ACTAVIS PLC SHS G0083B108 13,402 52,063 SH   OTR 1 52,063 0 0
ADOBE SYS INC COM 00724F101 843 11,600 SH   OTR 1 11,600 0 0
AFFILIATED MANAGERS GROUP COM 008252108 849 4,000 SH   OTR 1 4,000 0 0
AIRGAS INC COM 009363102 5,817 50,500 SH   OTR 1 50,500 0 0
ALEXION PHARMACEUTICALS INC COM 015351109 19 100 SH   OTR 1 100 0 0
ALLEGHANY CORP DEL COM 017175100 4,496 9,700 SH   OTR 1 9,700 0 0
ALLIANCE DATA SYSTEMS CORP COM 018581108 887 3,100 SH   OTR 1 3,100 0 0
ALTRIA GROUP INC COM 02209S103 1,764 35,800 SH   OTR 1 35,800 0 0
AMAZON COM INC COM 023135106 776 2,500 SH   OTR 1 2,500 0 0
AMERICAN CAPITAL AGENCY CORP COM 02503X105 14,383 658,880 SH   OTR 1 658,880 0 0
AMERICAN ELEC PWR INC COM 025537101 3,230 53,200 SH   OTR 1 53,200 0 0
AMERICAN RLTY CAP PPTYS INC COM 02917T104 465 51,400 SH   OTR 1 51,400 0 0
AMERICAN WTR WKS CO INC NEW COM 030420103 8,495 159,380 SH   OTR 1 159,380 0 0
ANNALY CAP MGMT INC COM 035710409 13,940 1,289,560 SH   OTR 1 1,289,560 0 0
APPLE INC COM 037833100 541 4,900 SH   OTR 1 4,900 0 0
AQUA AMERICA INC COM 03836W103 14,906 558,295 SH   OTR 1 558,295 0 0
ARCH CAP GROUP LTD ORD G0450A105 19,284 326,300 SH   OTR 1 326,300 0 0
AT&T INC COM 00206R102 10,984 327,000 SH   OTR 1 327,000 0 0
AUTOZONE INC COM 053332102 18,103 29,240 SH   OTR 1 29,240 0 0
AXALTA COATING SYS LTD COM G0750C108 8,124 312,240 SH   OTR 1 312,240 0 0
B/E AEROSPACE INC COM 073302101 458 7,900 SH   OTR 1 7,900 0 0
BARCLAYS BANK PLC ADR PFD SR 5 06739H362 2,747 105,342 SH   OTR 2 105,342 0 0
BARCLAYS BANK PLC ADS7.75%PFD S4 06739H511 782 30,146 SH   OTR 2 30,146 0 0
BARCLAYS BANK PLC SP ADR 7.1%PF3 06739H776 5,245 203,221 SH   OTR 2 203,221 0 0
BAXTER INTL INC COM 071813109 2,697 36,800 SH   OTR 1 36,800 0 0
BECTON DICKINSON & CO COM 075887109 3,187 22,900 SH   OTR 1 22,900 0 0
BED BATH & BEYOND INC COM 075896100 12,400 162,800 SH   OTR 1 162,800 0 0
BERKLEY W R CORP COM 084423102 4,557 88,900 SH   OTR 1 88,900 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 15,510 103,300 SH   OTR 1 103,300 0 0
BIOGEN IDEC INC COM 09062X103 849 2,500 SH   OTR 1 2,500 0 0
CABELAS INC COM 126804301 2,919 55,380 SH   OTR 1 55,380 0 0
CALPINE CORP COM NEW 131347304 854 38,600 SH   OTR 1 38,600 0 0
CAMERON INTERNATIONAL CORP COM 13342B105 589 11,800 SH   OTR 1 11,800 0 0
CAMPBELL SOUP CO COM 134429109 2,512 57,100 SH   OTR 1 57,100 0 0
CAPITOL FED FINL INC COM 14057J101 2,511 196,489 SH   OTR 1 196,489 0 0
CAREFUSION CORP COM 14170T101 1,175 19,800 SH   OTR 1 19,800 0 0
CELGENE CORP COM 151020104 1,096 9,800 SH   OTR 1 9,800 0 0
CERNER CORP COM 156782104 8,173 126,400 SH   OTR 1 126,400 0 0
CHEVRON CORP NEW COM 166764100 5,800 51,700 SH   OTR 1 51,700 0 0
CHIMERA INVT CORP COM 16934Q109 5,441 1,710,900 SH   OTR 1 1,710,900 0 0
CHIPOTLE MEXICAN GRILL INC COM 169656105 17,113 25,000 SH   OTR 1 25,000 0 0
CHUBB CORP COM 171232101 7,408 71,600 SH   OTR 1 71,600 0 0
CHURCH & DWIGHT INC COM 171340102 14,766 187,360 SH   OTR 1 187,360 0 0
CIT GROUP INC COM NEW 125581801 1,531 32,000 SH   OTR 2 32,000 0 0
CITRIX SYS INC COM 177376100 6 100 SH   OTR 1 100 0 0
CLOROX CO DEL COM 189054109 15,048 144,400 SH   OTR 1 144,400 0 0
COBALT INTL ENERGY INC COM 19075F106 1 100 SH   OTR 1 100 0 0
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 816 15,500 SH   OTR 1 15,500 0 0
CONAGRA FOODS INC COM 205887102 4,753 131,000 SH   OTR 1 131,000 0 0
CONCHO RES INC COM 20605P101 579 5,800 SH   OTR 1 5,800 0 0
CONSOLIDATED EDISON INC COM 209115104 5,598 84,800 SH   OTR 1 84,800 0 0
CONSTELLATION BRANDS INC CL A 21036P108 893 9,100 SH   OTR 1 9,100 0 0
CONTINENTAL RESOURCES INC COM 212015101 4,573 119,200 SH   OTR 1 119,200 0 0
COPART INC COM 217204106 4,153 113,800 SH   OTR 1 113,800 0 0
COVANCE INC COM 222816100 4,424 42,600 SH   OTR 1 42,600 0 0
CREE INC COM 225447101 3 100 SH   OTR 1 100 0 0
CROWN HOLDINGS INC COM 228368106 789 15,500 SH   OTR 1 15,500 0 0
DAVITA HEALTHCARE PARTNERS COM 23918K108 14,718 194,320 SH   OTR 1 194,320 0 0
DIAMOND OFFSHORE DRILLING IN COM 25271C102 464 12,640 SH   OTR 1 12,640 0 0
DIRECTV COM 25490A309 21,294 245,600 SH   OTR 1 245,600 0 0
DISCOVERY COMMUNICATNS NEW COM SER A 25470F104 3,404 98,800 SH   OTR 1 98,800 0 0
DISCOVERY COMMUNICATNS NEW COM SER C 25470F302 9,165 271,800 SH   OTR 1 271,800 0 0
DOLLAR GEN CORP NEW COM 256677105 7 100 SH   OTR 1 100 0 0
DOLLAR TREE INC COM 256746108 14,936 212,220 SH   OTR 1 212,220 0 0
DOMINION RES INC VA NEW COM 25746U109 8,228 107,000 SH   OTR 1 107,000 0 0
DRESSER-RAND GROUP INC COM 261608103 8 100 SH   OTR 1 100 0 0
DUKE ENERGY CORP NEW COM NEW 26441C204 14,609 174,878 SH   OTR 1 174,878 0 0
EBAY INC COM 278642103 8,429 150,200 SH   OTR 1 150,200 0 0
EDISON INTL COM 281020107 2,010 30,700 SH   OTR 1 30,700 0 0
EDWARDS LIFESCIENCES CORP COM 28176E108 7,350 57,700 SH   OTR 1 57,700 0 0
EMERSON ELEC CO COM 291011104 963 15,600 SH   OTR 1 15,600 0 0
ENDO INTL PLC SHS G30401106 743 10,300 SH   OTR 1 10,300 0 0
ENTERGY CORP NEW COM 29364G103 11,162 127,600 SH   OTR 1 127,600 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 15,085 178,164 SH   OTR 1 178,164 0 0
EXXON MOBIL CORP COM 30231G102 5,815 62,900 SH   OTR 1 62,900 0 0
F5 NETWORKS INC COM 315616102 13 100 SH   OTR 1 100 0 0
FACEBOOK INC CL A 30303M102 928 11,900 SH   OTR 1 11,900 0 0
FISERV INC COM 337738108 23,640 333,100 SH   OTR 1 333,100 0 0
FLOWERS FOODS INC COM 343498101 1,339 69,750 SH   OTR 1 69,750 0 0
FMC TECHNOLOGIES INC COM 30249U101 5,424 115,800 SH   OTR 1 115,800 0 0
FOSSIL GROUP INC COM 34988V106 476 4,300 SH   OTR 1 4,300 0 0
GENERAL MLS INC COM 370334104 6,336 118,800 SH   OTR 1 118,800 0 0
GILEAD SCIENCES INC COM 375558103 867 9,200 SH   OTR 1 9,200 0 0
GLOBALSTAR INC COM 378973408 11,425 4,154,400 SH   SOLE   4,154,400 0 0
GOOGLE INC CL A 38259P508 743 1,400 SH   OTR 1 1,400 0 0
GOOGLE INC CL C 38259P706 15,897 30,200 SH   OTR 1 30,200 0 0
GRACE W R & CO DEL NEW COM 38388F108 10 100 SH   OTR 1 100 0 0
HALYARD HEALTH INC COM 40650V100 390 8,575 SH   OTR 1 8,575 0 0
HCP INC COM 40414L109 13,469 305,900 SH   OTR 1 305,900 0 0
HEALTH CARE REIT INC COM 42217K106 6,735 89,000 SH   OTR 1 89,000 0 0
HERSHEY CO COM 427866108 12,950 124,600 SH   OTR 1 124,600 0 0
HERTZ GLOBAL HOLDINGS INC COM 42805T105 2 100 SH   OTR 1 100 0 0
HILTON WORLDWIDE HLDGS INC COM 43300A104 3 100 SH   OTR 1 100 0 0
HUDSON CITY BANCORP COM 443683107 3,429 338,800 SH   OTR 1 338,800 0 0
IDEXX LABS INC COM 45168D104 3,707 25,000 SH   OTR 1 25,000 0 0
IHS INC CL A 451734107 4,954 43,500 SH   OTR 1 43,500 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 2,744 17,100 SH   OTR 1 17,100 0 0
INTUITIVE SURGICAL INC COM NEW 46120E602 53 100 SH   OTR 1 100 0 0
ISHARES IBOXX HI YD ETF 464288513 36,548 407,900 SH Put OTR 3 407,900 0 0
ISHARES TR 20+ YR TR BD ETF 464287432 11,786 93,600 SH Call OTR 3 93,600 0 0
JOHNSON & JOHNSON COM 478160104 13,573 129,800 SH   OTR 1 129,800 0 0
KELLOGG CO COM 487836108 2,663 40,700 SH   OTR 1 40,700 0 0
KIMBERLY CLARK CORP COM 494368103 9,370 81,100 SH   OTR 1 81,100 0 0
KIRBY CORP COM 497266106 5,264 65,200 SH   OTR 1 65,200 0 0
KLX INC COM 482539103 163 3,950 SH   OTR 1 3,950 0 0
KRAFT FOODS GROUP INC COM 50076Q106 2,680 42,766 SH   OTR 1 42,766 0 0
LABORATORY CORP AMER HLDGS COM NEW 50540R409 12,553 116,340 SH   OTR 1 116,340 0 0
LIBERTY BROADBAND CORP COM SER A 530307107 2 33 SH   OTR 1 33 0 0
LIBERTY BROADBAND CORP RIGHT 01/09/2015 530307115 0 2 SH   OTR 1 2 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 3 66 SH   OTR 1 66 0 0
LIBERTY GLOBAL PLC SHS CL A G5480U104 5 100 SH   OTR 1 100 0 0
LIBERTY GLOBAL PLC SHS CL C G5480U120 5 100 SH   OTR 1 100 0 0
LIBERTY MEDIA CORP DELAWARE CL A 531229102 5 132 SH   OTR 1 132 0 0
LIBERTY MEDIA CORP DELAWARE COM SER C 531229300 9 264 SH   OTR 1 264 0 0
LILLY ELI & CO COM 532457108 6,230 90,300 SH   OTR 1 90,300 0 0
LINKEDIN CORP COM CL A 53578A108 1,103 4,800 SH   OTR 1 4,800 0 0
LKQ CORP COM 501889208 740 26,300 SH   OTR 1 26,300 0 0
LULULEMON ATHLETICA INC COM 550021109 6 100 SH   OTR 1 100 0 0
MARKEL CORP COM 570535104 16,798 24,600 SH   OTR 1 24,600 0 0
MCCORMICK & CO INC COM NON VTG 579780206 5,818 78,300 SH   OTR 1 78,300 0 0
MCDONALDS CORP COM 580135101 5,369 57,300 SH   OTR 1 57,300 0 0
MERCK & CO INC NEW COM 58933Y105 10,012 176,300 SH   OTR 1 176,300 0 0
METTLER TOLEDO INTERNATIONAL COM 592688105 1,536 5,080 SH   OTR 1 5,080 0 0
MICHAEL KORS HLDGS LTD SHS G60754101 8 100 SH   OTR 1 100 0 0
MICRON TECHNOLOGY INC COM 595112103 4 100 SH   OTR 1 100 0 0
MOHAWK INDS INC COM 608190104 854 5,500 SH   OTR 1 5,500 0 0
MOLSON COORS BREWING CO CL B 60871R209 3,346 44,900 SH   OTR 1 44,900 0 0
MONDELEZ INTL INC CL A 609207105 2,605 71,700 SH   OTR 1 71,700 0 0
NEXTERA ENERGY INC COM 65339F101 7,823 73,600 SH   OTR 1 73,600 0 0
NORTHEAST UTILS COM 664397106 2,570 48,019 SH   OTR 1 48,019 0 0
NRG ENERGY INC COM NEW 629377508 388 14,400 SH   OTR 1 14,400 0 0
NVR INC COM 62944T105 10,968 8,600 SH   OTR 1 8,600 0 0
PANERA BREAD CO CL A 69840W108 15,113 86,460 SH   OTR 1 86,460 0 0
PATTERSON COMPANIES INC COM 703395103 2,929 60,900 SH   OTR 1 60,900 0 0
PEOPLES UNITED FINANCIAL INC COM 712704105 3,469 228,500 SH   OTR 1 228,500 0 0
PEPCO HOLDINGS INC COM 713291102 3,695 137,200 SH   OTR 1 137,200 0 0
PEPSICO INC COM 713448108 2,865 30,300 SH   OTR 1 30,300 0 0
PFIZER INC COM 717081103 8,537 274,074 SH   OTR 1 274,074 0 0
PHILIP MORRIS INTL INC COM 718172109 10,336 126,900 SH   OTR 1 126,900 0 0
POST HLDGS INC COM 737446104 865 20,650 SH   OTR 1 20,650 0 0
PPL CORP COM 69351T106 6,990 192,400 SH   OTR 1 192,400 0 0
PREMIER INC CL A 74051N102 4,251 126,780 SH   OTR 1 126,780 0 0
PRICELINE GRP INC COM NEW 741503403 2,851 2,500 SH   OTR 1 2,500 0 0
PROCTER & GAMBLE CO COM 742718109 14,503 159,220 SH   OTR 1 159,220 0 0
QUALCOMM INC COM 747525103 91,192 1,226,851 SH   SOLE   1,226,851 0 0
QUANTA SVCS INC COM 74762E102 3 100 SH   OTR 1 100 0 0
QUEST DIAGNOSTICS INC COM 74834L100 2,756 41,100 SH   OTR 1 41,100 0 0
RAYONIER INC COM 754907103 500 17,900 SH   OTR 1 17,900 0 0
REALOGY HLDGS CORP COM 75605Y106 4 100 SH   OTR 1 100 0 0
REALTY INCOME CORP COM 756109104 3,101 65,000 SH   OTR 1 65,000 0 0
REGENERON PHARMACEUTICALS COM 75886F107 41 100 SH   OTR 1 100 0 0
REYNOLDS AMERICAN INC COM 761713106 13,895 216,200 SH   OTR 1 216,200 0 0
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF T 780097713 20,319 797,148 SH   OTR 2 797,148 0 0
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF S 780097739 1,402 56,400 SH   OTR 2 56,400 0 0
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF M 780097796 727 29,500 SH   OTR 2 29,500 0 0
ROYAL BK SCOTLAND GROUP PLC SPON ADR SER H 780097879 5,433 213,067 SH   OTR 2 213,067 0 0
SAFEWAY INC COM NEW 786514208 14,601 415,740 SH   OTR 1 415,740 0 0
SALESFORCE COM INC COM 79466L302 824 13,900 SH   OTR 1 13,900 0 0
SALLY BEAUTY HLDGS INC COM 79546E104 7,112 231,360 SH   OTR 1 231,360 0 0
SBA COMMUNICATIONS CORP COM 78388J106 13,635 123,100 SH   OTR 1 123,100 0 0
SCANA CORP NEW COM 80589M102 6,855 113,500 SH   OTR 1 113,500 0 0
SCHEIN HENRY INC COM 806407102 14,241 104,600 SH   OTR 1 104,600 0 0
SEMPRA ENERGY COM 816851109 4,811 43,200 SH   OTR 1 43,200 0 0
SENIOR HSG PPTYS TR SH BEN INT 81721M109 14,352 649,100 SH   OTR 1 649,100 0 0
SOUTHERN CO COM 842587107 14,686 299,040 SH   OTR 1 299,040 0 0
SOUTHWESTERN ENERGY CO COM 845467109 1,397 51,200 SH   OTR 1 51,200 0 0
STARWOOD PPTY TR INC COM 85571B105 14,406 619,860 SH   OTR 1 619,860 0 0
STERICYCLE INC COM 858912108 14,733 112,400 SH   OTR 1 112,400 0 0
SYSCO CORP COM 871829107 2,703 68,100 SH   OTR 1 68,100 0 0
TECO ENERGY INC COM 872375100 5,604 273,500 SH   OTR 1 273,500 0 0
TERADATA CORP DEL COM 88076W103 4 100 SH   OTR 1 100 0 0
TESLA MTRS INC COM 88160R101 22 100 SH   OTR 1 100 0 0
TRAVELERS COMPANIES INC COM 89417E109 8,150 77,000 SH   OTR 1 77,000 0 0
TRIMBLE NAVIGATION LTD COM 896239100 3 100 SH   OTR 1 100 0 0
TRW AUTOMOTIVE HLDGS CORP COM 87264S106 915 8,900 SH   OTR 1 8,900 0 0
UNDER ARMOUR INC CL A 904311107 14 200 SH   OTR 1 200 0 0
UNITED CONTL HLDGS INC COM 910047109 7 100 SH   OTR 1 100 0 0
URBAN OUTFITTERS INC COM 917047102 7,442 211,840 SH   OTR 1 211,840 0 0
VALIDUS HOLDINGS LTD COM SHS G9319H102 4,011 96,500 SH   OTR 1 96,500 0 0
VARIAN MED SYS INC COM 92220P105 12,873 148,800 SH   OTR 1 148,800 0 0
VERISIGN INC COM 92343E102 6 100 SH   OTR 1 100 0 0
VERISK ANALYTICS INC CL A 92345Y106 794 12,400 SH   OTR 1 12,400 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 12,322 263,400 SH   OTR 1 263,400 0 0
WABCO HLDGS INC COM 92927K102 733 7,000 SH   OTR 1 7,000 0 0
WAL-MART STORES INC COM 931142103 13,981 162,800 SH   OTR 1 162,800 0 0
WASTE MGMT INC DEL COM 94106L109 5,255 102,400 SH   OTR 1 102,400 0 0
WATERS CORP COM 941848103 4,013 35,600 SH   OTR 1 35,600 0 0
WHITE MTNS INS GROUP LTD COM G9618E107 3,214 5,100 SH   OTR 1 5,100 0 0
WHITING PETE CORP NEW COM 966387102 350 10,600 SH   OTR 1 10,600 0 0
WISCONSIN ENERGY CORP COM 976657106 8,897 168,700 SH   OTR 1 168,700 0 0
XCEL ENERGY INC COM 98389B100 6,828 190,100 SH   OTR 1 190,100 0 0
ZEBRA TECHNOLOGIES CORP CL A 989207105 3,953 51,070 SH   OTR 1 51,070 0 0