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 3,236 21,700 SH   OTR 1 21,700 0 0
ALLEGHANY CORP DEL COM 017175100 9,030 17,200 SH   OTR 1 17,200 0 0
ALLIANCE DATA SYSTEMS CORP COM 018581108 665 3,100 SH   OTR 1 3,100 0 0
ALLY FINL INC COM 02005N100 596 30,600 SH   OTR 1 30,600 0 0
ALTRIA GROUP INC COM 02209S103 6,905 109,200 SH   OTR 1 109,200 0 0
AMERICAN WTR WKS CO INC NEW COM 030420103 958 12,800 SH   OTR 1 12,800 0 0
ARCH CAP GROUP LTD ORD G0450A105 2,235 28,200 SH   OTR 1 28,200 0 0
AUTOZONE INC COM 053332102 7,760 10,100 SH   OTR 1 10,100 0 0
AXALTA COATING SYS LTD COM G0750C108 6,560 232,040 SH   OTR 1 232,040 0 0
AXIS CAPITAL HOLDINGS LTD SHS G0692U109 549 10,100 SH   OTR 1 10,100 0 0
BARCLAYS BANK PLC ADR PFD SR 5 06739H362 1,732 66,542 SH   OTR 2 66,542 0 0
BARCLAYS BANK PLC SP ADR 7.1%PF3 06739H776 1,148 44,582 SH   OTR 2 44,582 0 0
BARD C R INC COM 067383109 763 3,400 SH   OTR 1 3,400 0 0
BED BATH & BEYOND INC COM 075896100 7,018 162,800 SH   OTR 1 162,800 0 0
BERKLEY W R CORP COM 084423102 9,507 164,600 SH   OTR 1 164,600 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 5,129 35,500 SH   OTR 1 35,500 0 0
BOSTON PROPERTIES INC COM 101121101 627 4,600 SH   OTR 1 4,600 0 0
BUNGE LIMITED COM G16962105 5,603 94,600 SH   OTR 1 94,600 0 0
CABELAS INC COM 126804301 3,042 55,380 SH   OTR 1 55,380 0 0
CHIPOTLE MEXICAN GRILL INC COM 169656105 4,870 11,500 SH   OTR 1 11,500 0 0
CHURCH & DWIGHT INC COM 171340102 10,054 209,800 SH   OTR 1 209,800 0 0
CITIZENS FINL GROUP INC COM 174610105 509 20,600 SH   OTR 1 20,600 0 0
CLOROX CO DEL COM 189054109 10,152 81,100 SH   OTR 1 81,100 0 0
COLGATE PALMOLIVE CO COM 194162103 9,438 127,300 SH   OTR 1 127,300 0 0
CONSTELLATION BRANDS INC CL A 21036P108 1,515 9,100 SH   OTR 1 9,100 0 0
COOPER COS INC COM NEW 216648402 9,806 54,700 SH   OTR 1 54,700 0 0
COPART INC COM 217204106 6,095 113,800 SH   OTR 1 113,800 0 0
DAVITA INC COM 23918K108 12,839 194,320 SH   OTR 1 194,320 0 0
DISCOVERY COMMUNICATNS NEW COM SER A 25470F104 2,660 98,800 SH   OTR 1 98,800 0 0
DISCOVERY COMMUNICATNS NEW COM SER C 25470F302 5,630 214,000 SH   OTR 1 214,000 0 0
DOLLAR GEN CORP NEW COM 256677105 5,970 85,300 SH   OTR 1 85,300 0 0
DOLLAR TREE INC COM 256746108 3,403 43,120 SH   OTR 1 43,120 0 0
DUKE ENERGY CORP NEW COM NEW 26441C204 9,005 112,500 SH   OTR 1 112,500 0 0
EBAY INC COM 278642103 1,372 41,700 SH   OTR 1 41,700 0 0
EDGEWELL PERS CARE CO COM 28035Q102 342 4,300 SH   OTR 1 4,300 0 0
EDISON INTL COM 281020107 10,267 142,100 SH   OTR 1 142,100 0 0
ENERGIZER HLDGS INC NEW COM 29272W109 215 4,300 SH   OTR 1 4,300 0 0
ENTERGY CORP NEW COM 29364G103 9,338 121,700 SH   OTR 1 121,700 0 0
ENVISION HEALTHCARE HLDGS IN COM 29413U103 3,715 166,800 SH   OTR 1 166,800 0 0
EVERSOURCE ENERGY COM 30040W108 8,463 156,200 SH   OTR 1 156,200 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 2,819 39,964 SH   OTR 1 39,964 0 0
FITBIT INC CL A 33812L102 5,028 338,839 SH   SOLE   338,839 0 0
FMC TECHNOLOGIES INC COM 30249U101 2,851 96,100 SH   OTR 1 96,100 0 0
FOSSIL GROUP INC COM 34988V106 1,311 47,200 SH   OTR 1 47,200 0 0
GENERAL MTRS CO COM 37045V100 5,709 179,705 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 3,484 91,800 SH   OTR 1 91,800 0 0
HSBC HLDGS PLC NOTE 6.875%12/3 404280BC2 5,200 5,000,000 PRN   OTR 3 5,000,000 0 0
HSBC HLDGS PLC NOTE 6.875%12/3 404280BC2 5,782 5,560,000 PRN   OTR 2 5,560,000 0 0
IHS MARKIT LTD SHS G47567105 9,268 246,828 SH   OTR 1 246,828 0 0
ING GROEP N V DBCV 6.500%12/3 456837AF0 5,239 5,405,000 PRN   OTR 2 5,405,000 0 0
KIMBERLY CLARK CORP COM 494368103 9,889 78,400 SH   OTR 1 78,400 0 0
KIRBY CORP COM 497266106 3,183 51,200 SH   OTR 1 51,200 0 0
KLX INC COM 482539103 139 3,950 SH   OTR 1 3,950 0 0
LABORATORY CORP AMER HLDGS COM NEW 50540R409 8,329 60,582 SH   OTR 1 60,582 0 0
LKQ CORP COM 501889208 7,454 210,200 SH   OTR 1 210,200 0 0
LLOYDS BANKING GROUP PLC SDCV 7.500%12/3 539439AG4 1,033 1,000,000 PRN   OTR 3 1,000,000 0 0
LULULEMON ATHLETICA INC COM 550021109 1,988 32,600 SH   OTR 1 32,600 0 0
MARKEL CORP COM 570535104 16,811 18,100 SH   OTR 1 18,100 0 0
MCCORMICK & CO INC COM NON VTG 579780206 8,673 86,800 SH   OTR 1 86,800 0 0
MEDNAX INC COM 58502B106 5,645 85,200 SH   OTR 1 85,200 0 0
MICHAEL KORS HLDGS LTD SHS G60754101 2,377 50,800 SH   OTR 1 50,800 0 0
NEW YORK CMNTY BANCORP INC COM 649445103 299 21,000 SH   OTR 1 21,000 0 0
NORDSTROM INC COM 655664100 5,525 106,500 SH   OTR 1 106,500 0 0
NVR INC COM 62944T105 5,412 3,300 SH   OTR 1 3,300 0 0
O REILLY AUTOMOTIVE INC COM 67103H107 9,356 33,400 SH   OTR 1 33,400 0 0
PANERA BREAD CO CL A 69840W108 12,668 65,060 SH   OTR 1 65,060 0 0
PAYPAL HLDGS INC COM 70450Y103 152 3,700 SH   OTR 1 3,700 0 0
PEOPLES UNITED FINANCIAL INC COM 712704105 3,333 210,700 SH   OTR 1 210,700 0 0
PREMIER INC CL A 74051N102 3,182 98,380 SH   OTR 1 98,380 0 0
QUALCOMM INC COM 747525103 57,293 836,388 SH   SOLE   836,388 0 0
RALPH LAUREN CORP CL A 751212101 1,416 14,000 SH   OTR 1 14,000 0 0
RAYONIER INC COM 754907103 4,745 178,800 SH   OTR 1 178,800 0 0
RENAISSANCERE HOLDINGS LTD COM G7496G103 8,916 74,200 SH   OTR 1 74,200 0 0
ROYAL BK OF SCOTLAND PLC DEBT 7.500%12/3 780099CJ4 7,340 8,000,000 PRN   OTR 3 8,000,000 0 0
ROYAL BK OF SCOTLAND PLC NOTE 8.000%12/3 780099CK1 2,350 2,500,000 PRN   OTR 2 2,500,000 0 0
ROYAL BK SCOTLAND GROUP PLC SPON ADR SER H 780097879 5,423 213,067 SH   OTR 2 213,067 0 0
ROYAL BK SCOTLAND GROUP PLC NOTE 8.625%12/3 780097BB6 1,958 2,000,000 PRN   OTR 3 2,000,000 0 0
SALLY BEAUTY HLDGS INC COM 79546E104 5,941 231,360 SH   OTR 1 231,360 0 0
SBA COMMUNICATIONS CORP COM 78388J106 13,807 123,100 SH   OTR 1 123,100 0 0
SCHEIN HENRY INC COM 806407102 4,075 25,000 SH   OTR 1 25,000 0 0
SCRIPPS NETWORKS INTERACT IN CL A COM 811065101 7,562 119,100 SH   OTR 1 119,100 0 0
SIRIUS XM HLDGS INC COM 82968B103 9,049 2,170,000 SH   OTR 1 2,170,000 0 0
STERICYCLE INC COM 858912108 9,000 112,300 SH   OTR 1 112,300 0 0
SYNCHRONY FINL COM 87165B103 7,697 274,900 SH   OTR 1 274,900 0 0
SYSCO CORP COM 871829107 4,945 100,900 SH   OTR 1 100,900 0 0
TERADATA CORP DEL COM 88076W103 8,333 268,800 SH   OTR 1 268,800 0 0
URBAN OUTFITTERS INC COM 917047102 9,812 284,240 SH   OTR 1 284,240 0 0
VARIAN MED SYS INC COM 92220P105 14,810 148,800 SH   OTR 1 148,800 0 0
VERISIGN INC COM 92343E102 9,725 124,300 SH   OTR 1 124,300 0 0
VERISK ANALYTICS INC COM 92345Y106 1,008 12,400 SH   OTR 1 12,400 0 0
WATERS CORP COM 941848103 539 3,400 SH   OTR 1 3,400 0 0
WEYERHAEUSER CO COM 962166104 10,067 315,200 SH   OTR 1 315,200 0 0
WHOLE FOODS MKT INC COM 966837106 3,359 118,500 SH   OTR 1 118,500 0 0
XCEL ENERGY INC COM 98389B100 10,482 254,800 SH   OTR 1 254,800 0 0
XL GROUP LTD COM G98294104 5,233 155,600 SH   OTR 1 155,600 0 0