SRB 13F-HR Quarterly holdings report by institutional manager

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
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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
3M COMPANY	COM	88579Y101	1,148	5,780	SH		DFND	1	5,780	0	0
3M COMPANY	COM	88579Y101	730	3,673	SH		DFND	1,2	3,673	0	0
ABBOTT LABORATORIES	COM	002824100	1,039	8,965	SH		DFND	1	8,965	0	0
ABBOTT LABORATORIES	COM	002824100	660	5,691	SH		DFND	1,2	5,691	0	0
ACCENTURE PLC	SHS CLASS A	G1151C101	1,201	4,075	SH		DFND	1	4,075	0	0
ACCENTURE PLC	SHS CLASS A	G1151C101	763	2,589	SH		DFND	1,2	2,589	0	0
ACTIVISION BLIZZARD INC	COM	00507V109	1,141	11,957	SH		DFND	1	11,957	0	0
ACTIVISION BLIZZARD INC	COM	00507V109	725	7,596	SH		DFND	1,2	7,596	0	0
AIR PRODUCTS AND CHEMICALS INC	COM	009158106	1,111	3,861	SH		DFND	1	3,861	0	0
AIR PRODUCTS AND CHEMICALS INC	COM	009158106	706	2,453	SH		DFND	1,2	2,453	0	0
ALLSTATE CORP	COM	020002101	1,020	7,823	SH		DFND	1	7,823	0	0
ALLSTATE CORP	COM	020002101	648	4,965	SH		DFND	1,2	4,965	0	0
ALPHABET INC CL A	CAP STK CL A	02079K305	1,074	440	SH		DFND	1	440	0	0
ALPHABET INC CL A	CAP STK CL A	02079K305	681	279	SH		DFND	1,2	279	0	0
ALTRIA GROUP INC	COM	02209S103	1,121	23,517	SH		DFND	1	23,517	0	0
ALTRIA GROUP INC	COM	02209S103	711	14,922	SH		DFND	1,2	14,922	0	0
AMPHENOL CORP	CL A	032095101	1,081	15,804	SH		DFND	1	15,804	0	0
AMPHENOL CORP	CL A	032095101	686	10,032	SH		DFND	1,2	10,032	0	0
APPLE INC	COM	037833100	1,249	9,121	SH		DFND	1	9,121	0	0
APPLE INC	COM	037833100	794	5,794	SH		DFND	1,2	5,794	0	0
ASSURANT INC	COM	04621X108	1,047	6,703	SH		DFND	1	6,703	0	0
ASSURANT INC	COM	04621X108	664	4,254	SH		DFND	1,2	4,254	0	0
AUTOMATIC DATA PROCESSING INC	COM	053015103	1,186	5,971	SH		DFND	1	5,971	0	0
AUTOMATIC DATA PROCESSING INC	COM	053015103	754	3,794	SH		DFND	1,2	3,794	0	0
AUTOZONE INC	COM	053332102	1,233	826	SH		DFND	1	826	0	0
AUTOZONE INC	COM	053332102	785	526	SH		DFND	1,2	526	0	0
AXIS CAPITAL HOLDINGS LTD	SHS	G0692U109	10,600	216,278	SH		DFND	1	216,278	0	0
AXIS CAPITAL HOLDINGS LTD	SHS	G0692U109	13,113	267,562	SH		DFND	1,2	267,562	0	0
BERKSHIRE HATHAWAY INC	CL B NEW	084670702	1,125	4,048	SH		DFND	1	4,048	0	0
BERKSHIRE HATHAWAY INC	CL B NEW	084670702	715	2,573	SH		DFND	1,2	2,573	0	0
BIO RAD LABORATORIES A	CL A	090572207	1,258	1,952	SH		DFND	1	1,952	0	0
BIO RAD LABORATORIES A	CL A	090572207	799	1,240	SH		DFND	1,2	1,240	0	0
BROADRIDGE FINANCIAL SOLUTIO	COM	11133T103	1,177	7,288	SH		DFND	1	7,288	0	0
BROADRIDGE FINANCIAL SOLUTIO	COM	11133T103	748	4,632	SH		DFND	1,2	4,632	0	0
CHUBB LTD	COM	H1467J104	1,094	6,880	SH		DFND	1	6,880	0	0
CHUBB LTD	COM	H1467J104	695	4,371	SH		DFND	1,2	4,371	0	0
CHURCH & DWIGHT CO INC	COM	171340102	1,145	13,435	SH		DFND	1	13,435	0	0
CHURCH & DWIGHT CO INC	COM	171340102	728	8,538	SH		DFND	1,2	8,538	0	0
CINCINNATI FINANCIAL CORP	COM	172062101	1,031	8,843	SH		DFND	1	8,843	0	0
CINCINNATI FINANCIAL CORP	COM	172062101	655	5,614	SH		DFND	1,2	5,614	0	0
CISCO SYSTEMS INC	COM	17275R102	1,160	21,891	SH		DFND	1	21,891	0	0
CISCO SYSTEMS INC	COM	17275R102	737	13,910	SH		DFND	1,2	13,910	0	0
COGNIZANT TEC SOLUTIONS A	CL A	192446102	1,122	16,198	SH		DFND	1	16,198	0	0
COGNIZANT TEC SOLUTIONS A	CL A	192446102	713	10,291	SH		DFND	1,2	10,291	0	0
COLGATE PALMOLIVE CO	COM	194162103	1,120	13,770	SH		DFND	1	13,770	0	0
COLGATE PALMOLIVE CO	COM	194162103	712	8,750	SH		DFND	1,2	8,750	0	0
COSTCO WHOLESALE CORP	COM	22160K105	1,209	3,054	SH		DFND	1	3,054	0	0
COSTCO WHOLESALE CORP	COM	22160K105	759	1,917	SH		DFND	1,2	1,917	0	0
CVS CAREMARK CORP	COM	126650100	95,721	1,147,178	SH		DFND	1	1,147,178	0	0
CVS CAREMARK CORP	COM	126650100	82,030	983,104	SH		DFND	1,2	983,104	0	0
DOLLAR TREE INC	COM	256746108	1,075	10,809	SH		DFND	1	10,809	0	0
DOLLAR TREE INC	COM	256746108	681	6,845	SH		DFND	1,2	6,845	0	0
EBAY INC	COM	278642103	1,319	18,782	SH		DFND	1	18,782	0	0
EBAY INC	COM	278642103	838	11,934	SH		DFND	1,2	11,934	0	0
EVEREST RE GROUP LTD	COM	G3223R108	1,045	4,148	SH		DFND	1	4,148	0	0
EVEREST RE GROUP LTD	COM	G3223R108	664	2,633	SH		DFND	1,2	2,633	0	0
EXPEDITORS INTL WASH INC	COM	302130109	1,232	9,735	SH		DFND	1	9,735	0	0
EXPEDITORS INTL WASH INC	COM	302130109	768	6,070	SH		DFND	1,2	6,070	0	0
FACEBOOK INC CLASS A	CL A	30303M102	1,125	3,236	SH		DFND	1	3,236	0	0
FACEBOOK INC CLASS A	CL A	30303M102	714	2,054	SH		DFND	1,2	2,054	0	0
FASTENAL CO	COM	311900104	1,149	22,087	SH		DFND	1	22,087	0	0
FASTENAL CO	COM	311900104	730	14,038	SH		DFND	1,2	14,038	0	0
FOX CORP CLASS B	CL A COM	35137L105	1,063	28,619	SH		DFND	1	28,619	0	0
FOX CORP CLASS B	CL A COM	35137L105	675	18,166	SH		DFND	1,2	18,166	0	0
GALLAGHER ARTHUR J & CO COM	COM	363576109	1,132	8,079	SH		DFND	1	8,079	0	0
GALLAGHER ARTHUR J & CO COM	COM	363576109	719	5,134	SH		DFND	1,2	5,134	0	0
GARMIN LTD	SHS	H2906T109	1,192	8,244	SH		DFND	1	8,244	0	0
GARMIN LTD	SHS	H2906T109	758	5,238	SH		DFND	1,2	5,238	0	0
GENERAL ELECTRIC CO	COM	369604103	58,390	4,338,062	SH		DFND	1	4,338,062	0	0
GENERAL ELECTRIC CO	COM	369604103	32,083	2,383,579	SH		DFND	1,2	2,383,579	0	0
GRAINGER W W INC COM	COM	384802104	1,120	2,557	SH		DFND	1	2,557	0	0
GRAINGER W W INC COM	COM	384802104	712	1,625	SH		DFND	1,2	1,625	0	0
HENRY SCHEIN INC	COM	806407102	1,137	15,324	SH		DFND	1	15,324	0	0
HENRY SCHEIN INC	COM	806407102	721	9,714	SH		DFND	1,2	9,714	0	0
HERSHEY CO THE	COM	427866108	1,063	6,105	SH		DFND	1	6,105	0	0
HERSHEY CO THE	COM	427866108	675	3,876	SH		DFND	1,2	3,876	0	0
HOLOGIC INC	COM	436440101	1,212	18,163	SH		DFND	1	18,163	0	0
HOLOGIC INC	COM	436440101	770	11,538	SH		DFND	1,2	11,538	0	0
HOME DEPOT INC	COM	437076102	1,182	3,707	SH		DFND	1	3,707	0	0
HOME DEPOT INC	COM	437076102	751	2,355	SH		DFND	1,2	2,355	0	0
HUNT JB TRANSPRT SVCS INC	COM	445658107	1,126	6,908	SH		DFND	1	6,908	0	0
HUNT JB TRANSPRT SVCS INC	COM	445658107	715	4,390	SH		DFND	1,2	4,390	0	0
ILLINOIS TOOL WORKS	COM	452308109	1,120	5,011	SH		DFND	1	5,011	0	0
ILLINOIS TOOL WORKS	COM	452308109	712	3,185	SH		DFND	1,2	3,185	0	0
INTEL CORP CAP	COM	458140100	56,587	1,007,954	SH		DFND	1	1,007,954	0	0
INTEL CORP CAP	COM	458140100	72,800	1,296,751	SH		DFND	1,2	1,296,751	0	0
INTL BUSINESS MACHINES CORP	COM	459200101	1,086	7,411	SH		DFND	1	7,411	0	0
INTL BUSINESS MACHINES CORP	COM	459200101	690	4,704	SH		DFND	1,2	4,704	0	0
JOHNSON & JOHNSON	COM	478160104	1,123	6,815	SH		DFND	1	6,815	0	0
JOHNSON & JOHNSON	COM	478160104	713	4,330	SH		DFND	1,2	4,330	0	0
KEYSIGHT TECHNOLOGIES IN	COM	49338L103	1,168	7,566	SH		DFND	1	7,566	0	0
KEYSIGHT TECHNOLOGIES IN	COM	49338L103	742	4,803	SH		DFND	1,2	4,803	0	0
L3HARRIS TECHNOLOGIES INC	COM	502431109	1,061	4,908	SH		DFND	1	4,908	0	0
L3HARRIS TECHNOLOGIES INC	COM	502431109	673	3,115	SH		DFND	1,2	3,115	0	0
LILLY ELI & CO COM	COM	532457108	1,325	5,775	SH		DFND	1	5,775	0	0
LILLY ELI & CO COM	COM	532457108	842	3,670	SH		DFND	1,2	3,670	0	0
MARSH & MCLENNAN COS INC	COM	571748102	1,201	8,535	SH		DFND	1	8,535	0	0
MARSH & MCLENNAN COS INC	COM	571748102	763	5,423	SH		DFND	1,2	5,423	0	0
MAXIM INTEGRATED PRODUCTS	COM	57772K101	1,105	10,485	SH		DFND	1	10,485	0	0
MAXIM INTEGRATED PRODUCTS	COM	57772K101	701	6,656	SH		DFND	1,2	6,656	0	0
MERCK & CO. INC.	COM	58933Y105	61,596	792,034	SH		DFND	1	792,034	0	0
MERCK & CO. INC.	COM	58933Y105	81,812	1,051,980	SH		DFND	1,2	1,051,980	0	0
MICROSOFT CORP	COM	594918104	131,207	484,337	SH		DFND	1	484,337	0	0
MICROSOFT CORP	COM	594918104	190,562	703,440	SH		DFND	1,2	703,440	0	0
MONSTER BEVERAGE CORP	COM	61174X109	1,049	11,482	SH		DFND	1	11,482	0	0
MONSTER BEVERAGE CORP	COM	61174X109	666	7,288	SH		DFND	1,2	7,288	0	0
MOTOROLA SOLUTIONS INC	COM NEW	620076307	1,234	5,692	SH		DFND	1	5,692	0	0
MOTOROLA SOLUTIONS INC	COM NEW	620076307	784	3,617	SH		DFND	1,2	3,617	0	0
Newmont Goldcorp Corp	COM	651639106	1,007	15,883	SH		DFND	1	15,883	0	0
Newmont Goldcorp Corp	COM	651639106	646	10,200	SH		DFND	1,2	10,200	0	0
O REILLY AUTOMOTIVE INC	COM	67103H107	1,243	2,195	SH		DFND	1	2,195	0	0
O REILLY AUTOMOTIVE INC	COM	67103H107	789	1,394	SH		DFND	1,2	1,394	0	0
OMNICOM GROUP INC	COM	681919106	1,036	12,947	SH		DFND	1	12,947	0	0
OMNICOM GROUP INC	COM	681919106	657	8,218	SH		DFND	1,2	8,218	0	0
PACKAGING CORP OF AMERICA	COM	695156109	1,051	7,759	SH		DFND	1	7,759	0	0
PACKAGING CORP OF AMERICA	COM	695156109	667	4,929	SH		DFND	1,2	4,929	0	0
PEOPLE'S UNITED FINANCIAL INC	COM	712704105	1,064	62,066	SH		DFND	1	62,066	0	0
PEOPLE'S UNITED FINANCIAL INC	COM	712704105	676	39,414	SH		DFND	1,2	39,414	0	0
PERKINELMER INC	COM	714046109	1,258	8,145	SH		DFND	1	8,145	0	0
PERKINELMER INC	COM	714046109	799	5,175	SH		DFND	1,2	5,175	0	0
PHILIP MORRIS INTL INC	COM	718172109	1,186	11,970	SH		DFND	1	11,970	0	0
PHILIP MORRIS INTL INC	COM	718172109	754	7,605	SH		DFND	1,2	7,605	0	0
PPG INDUSTRIES INC	COM	693506107	1,005	5,917	SH		DFND	1	5,917	0	0
PPG INDUSTRIES INC	COM	693506107	638	3,756	SH		DFND	1,2	3,756	0	0
PRICE T ROWE GROUP INC COM	COM	74144T108	58,365	294,818	SH		DFND	1	294,818	0	0
PRICE T ROWE GROUP INC COM	COM	74144T108	31,712	160,185	SH		DFND	1,2	160,185	0	0
PROCTER & GAMBLE CO	COM	742718109	60,284	446,781	SH		DFND	1	446,781	0	0
PROCTER & GAMBLE CO	COM	742718109	69,133	512,364	SH		DFND	1,2	512,364	0	0
PROGRESSIVE CORP	COM	743315103	1,167	11,881	SH		DFND	1	11,881	0	0
PROGRESSIVE CORP	COM	743315103	741	7,549	SH		DFND	1,2	7,549	0	0
QUALCOMM INC	COM	747525103	1,233	8,625	SH		DFND	1	8,625	0	0
QUALCOMM INC	COM	747525103	783	5,481	SH		DFND	1,2	5,481	0	0
REPUBLIC SERVICES INC	COM	760759100	1,078	9,801	SH		DFND	1	9,801	0	0
REPUBLIC SERVICES INC	COM	760759100	684	6,222	SH		DFND	1,2	6,222	0	0
ROYAL DUTCH SHELL SPON ADR B	SPON ADR B	780259107	84,920	2,186,960	SH		DFND	1	2,186,960	0	0
ROYAL DUTCH SHELL SPON ADR B	SPON ADR B	780259107	56,561	1,456,640	SH		DFND	1,2	1,456,640	0	0
SAFETY INSURANCE GROUP INC	COM	78648T100	50,728	648,031	SH		DFND	1	648,031	0	0
SAFETY INSURANCE GROUP INC	COM	78648T100	80,374	1,026,751	SH		DFND	1,2	1,026,751	0	0
SHERWIN WILLIAMS CO THE	COM	824348106	1,122	4,117	SH		DFND	1	4,117	0	0
SHERWIN WILLIAMS CO THE	COM	824348106	713	2,617	SH		DFND	1,2	2,617	0	0
SMITH A O CORP	COM	831865209	1,212	16,815	SH		DFND	1	16,815	0	0
SMITH A O CORP	COM	831865209	770	10,685	SH		DFND	1,2	10,685	0	0
TARGET CORP	COM	87612E106	1,257	5,201	SH		DFND	1	5,201	0	0
TARGET CORP	COM	87612E106	799	3,305	SH		DFND	1,2	3,305	0	0
TEXAS INSTRUMENT	COM	882508104	1,185	6,161	SH		DFND	1	6,161	0	0
TEXAS INSTRUMENT	COM	882508104	753	3,915	SH		DFND	1,2	3,915	0	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	1,275	2,527	SH		DFND	1	2,527	0	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	799	1,583	SH		DFND	1,2	1,583	0	0
TRACTOR SUPPLY CO	COM	892356106	1,203	6,463	SH		DFND	1	6,463	0	0
TRACTOR SUPPLY CO	COM	892356106	760	4,084	SH		DFND	1,2	4,084	0	0
TRAVELERS COS INC	COM	89417E109	1,100	7,349	SH		DFND	1	7,349	0	0
TRAVELERS COS INC	COM	89417E109	699	4,668	SH		DFND	1,2	4,668	0	0
TYSON FOODS	CL A	902494103	980	13,281	SH		DFND	1	13,281	0	0
TYSON FOODS	CL A	902494103	622	8,430	SH		DFND	1,2	8,430	0	0
UNITED PARCEL SERVICE CL B	CL B	911312106	1,043	5,015	SH		DFND	1	5,015	0	0
UNITED PARCEL SERVICE CL B	CL B	911312106	662	3,184	SH		DFND	1,2	3,184	0	0
VERISK ANALYTICS INC	COM	92345Y106	32,782	187,625	SH		DFND	1	187,625	0	0
WASTE MANAGEMENT INC	COM	94106L109	1,060	7,563	SH		DFND	1	7,563	0	0
WASTE MANAGEMENT INC	COM	94106L109	673	4,802	SH		DFND	1,2	4,802	0	0
WATERS CORP	COM	941848103	1,260	3,646	SH		DFND	1	3,646	0	0
WATERS CORP	COM	941848103	801	2,318	SH		DFND	1,2	2,318	0	0