EULAV Asset Management 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
Expires:	Oct 31, 2018
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
ABB LTD	SPONSORED ADR	000375204	2,258	85,000	SH		DFND		0	85,000	0
ACCENTURE PLC IRELAND	SHS CLASS A	G1151C101	13,681	166,400	SH		DFND		0	166,400	0
ACE LTD	SHS	H0023R105	1,864	18,000	SH		DFND		0	18,000	0
ACTAVIS PLC	SHS	G0083B108	5,662	33,700	SH		DFND		0	33,700	0
ACTUANT CORP	CL A NEW	00508X203	1,942	53,000	SH		DFND		0	53,000	0
ACUITY BRANDS INC	COM	00508Y102	14,037	128,400	SH		DFND		0	128,400	0
ADOBE SYS INC	COM	00724F101	1,222	20,400	SH		DFND		0	20,400	0
ADVENT SOFTWARE INC	COM	007974108	1,638	46,800	SH		DFND		0	46,800	0
ADVISORY BRD CO	COM	00762W107	3,234	50,800	SH		DFND		0	50,800	0
AFFILIATED MANAGERS GROUP	COM	008252108	12,536	57,800	SH		DFND		0	57,800	0
AFLAC INC	COM	001055102	10,601	158,700	SH		DFND		0	158,700	0
AGL RES INC	COM	001204106	1,176	24,900	SH		DFND		0	24,900	0
AIR PRODS & CHEMS INC	COM	009158106	3,689	33,000	SH		DFND		0	33,000	0
AIRGAS INC	COM	009363102	3,646	32,600	SH		DFND		0	32,600	0
AKORN INC	COM	009728106	2,281	92,600	SH		DFND		0	92,600	0
ALBEMARLE CORP	COM	012653101	640	10,100	SH		DFND		0	10,100	0
ALERE INC	NOTE 3.000% 5/1	01449JAA3	1,124	1,000,000	PRN		DFND		0	1,000,000	0
ALEXION PHARMACEUTICALS INC	COM	015351109	13,386	100,600	SH		DFND		0	100,600	0
ALLEGHANY CORP DEL	COM	017175100	2,120	5,300	SH		DFND		0	5,300	0
ALLERGAN INC	COM	018490102	10,397	93,600	SH		DFND		0	93,600	0
ALLIANCE DATA SYSTEMS CORP	COM	018581108	15,171	57,700	SH		DFND		0	57,700	0
ALLIANT TECHSYSTEMS INC	NOTE 3.000% 8/1	018804AK0	240	150,000	PRN		DFND		0	150,000	0
ALLIED WRLD ASSUR COM HLDG A	SHS	H01531104	609	5,400	SH		DFND		0	5,400	0
AMBEV SA	SPONSORED ADR	02319V103	4,777	650,000	SH		DFND		0	650,000	0
AMERICA MOVIL SAB DE CV	SPON ADR L SHS	02364W105	2,150	92,000	SH		DFND		0	92,000	0
AMERICAN CAMPUS CMNTYS INC	COM	024835100	335	10,400	SH		DFND		0	10,400	0
AMERICAN ELEC PWR INC	COM	025537101	1,187	25,400	SH		DFND		0	25,400	0
AMERICAN STS WTR CO	COM	029899101	1,523	53,000	SH		DFND		0	53,000	0
AMERICAN TOWER CORP NEW	COM	03027X100	9,411	117,900	SH		DFND		0	117,900	0
AMERIPRISE FINL INC	COM	03076C106	1,231	10,700	SH		DFND		0	10,700	0
AMETEK INC NEW	COM	031100100	17,741	336,825	SH		DFND		0	336,825	0
AMGEN INC	COM	031162100	4,076	35,700	SH		DFND		0	35,700	0
AMPHENOL CORP NEW	CL A	032095101	8,784	98,500	SH		DFND		0	98,500	0
AMTRUST FINL SVCS INC	COM	032359309	237	7,260	SH		DFND		0	7,260	0
ANIXTER INTL INC	COM	035290105	4,537	50,500	SH		DFND		0	50,500	0
ANSYS INC	COM	03662Q105	13,797	158,226	SH		DFND		0	158,226	0
APPLE INC	COM	037833100	7,912	14,100	SH		DFND		0	14,100	0
APPLIED INDL TECHNOLOGIES IN	COM	03820C105	903	18,400	SH		DFND		0	18,400	0
APTARGROUP INC	COM	038336103	10,775	158,900	SH		DFND		0	158,900	0
ARCH CAP GROUP LTD	ORD	G0450A105	9,312	156,000	SH		DFND		0	156,000	0
ARM HLDGS PLC	SPONSORED ADR	042068106	2,721	49,700	SH		DFND		0	49,700	0
AT&T INC	COM	00206R102	2,742	78,000	SH		DFND		0	78,000	0
ATMOS ENERGY CORP	COM	049560105	1,481	32,600	SH		DFND		0	32,600	0
ATWOOD OCEANICS INC	COM	050095108	2,894	54,200	SH		DFND		0	54,200	0
AUTOMATIC DATA PROCESSING IN	COM	053015103	5,180	64,100	SH		DFND		0	64,100	0
AUTOZONE INC	COM	053332102	14,816	31,000	SH		DFND		0	31,000	0
AVAGO TECHNOLOGIES LTD	SHS	Y0486S104	2,063	39,000	SH		DFND		0	39,000	0
AZZ INC	COM	002474104	5,160	105,600	SH		DFND		0	105,600	0
BALL CORP	COM	058498106	3,162	61,200	SH		DFND		0	61,200	0
BANCO DE CHILE	SPONSORED ADR	059520106	730	8,316	SH		DFND		0	8,316	0
BANK MONTREAL QUE	COM	063671101	3,933	59,000	SH		DFND		0	59,000	0
BANK N S HALIFAX	COM	064149107	1,726	27,600	SH		DFND		0	27,600	0
BARD C R INC	COM	067383109	6,885	51,400	SH		DFND		0	51,400	0
BCE INC	COM NEW	05534B760	4,329	100,000	SH		DFND		0	100,000	0
BECTON DICKINSON & CO	COM	075887109	3,447	31,200	SH		DFND		0	31,200	0
BHP BILLITON LTD	SPONSORED ADR	088606108	3,383	49,600	SH		DFND		0	49,600	0
BIO RAD LABS INC	CL A	090572207	989	8,000	SH		DFND		0	8,000	0
BIOGEN IDEC INC	COM	09062X103	2,797	10,000	SH		DFND		0	10,000	0
BIO-REFERENCE LABS INC	COM $.01 NEW	09057G602	439	17,200	SH		DFND		0	17,200	0
BLACKROCK INC	COM	09247X101	13,134	41,500	SH		DFND		0	41,500	0
BOEING CO	COM	097023105	2,593	19,000	SH		DFND		0	19,000	0
BOK FINL CORP	COM NEW	05561Q201	371	5,600	SH		DFND		0	5,600	0
BORGWARNER INC	COM	099724106	8,085	144,600	SH		DFND		0	144,600	0
BOSTON BEER INC	CL A	100557107	6,746	27,900	SH		DFND		0	27,900	0
BRE PROPERTIES INC	CL A	05564E106	930	17,000	SH		DFND		0	17,000	0
BRF SA	SPONSORED ADR	10552T107	2,275	109,000	SH		DFND		0	109,000	0
BRINKER INTL INC	COM	109641100	11,376	245,500	SH		DFND		0	245,500	0
BRISTOL MYERS SQUIBB CO	COM	110122108	3,582	67,400	SH		DFND		0	67,400	0
BRISTOW GROUP INC	NOTE 3.000% 6/1	110394AC7	307	250,000	PRN		DFND		0	250,000	0
BRITISH AMERN TOB PLC	SPONSORED ADR	110448107	5,145	47,900	SH		DFND		0	47,900	0
BROWN & BROWN INC	COM	115236101	1,381	44,000	SH		DFND		0	44,000	0
BROWN FORMAN CORP	CL B	115637209	1,610	21,300	SH		DFND		0	21,300	0
BUCKLE INC	COM	118440106	3,264	62,100	SH		DFND		0	62,100	0
BUFFALO WILD WINGS INC	COM	119848109	6,963	47,300	SH		DFND		0	47,300	0
BUNGE LIMITED	COM	G16962105	4,393	53,500	SH		DFND		0	53,500	0
CACI INTL INC	NOTE 2.125% 5/0	127190AD8	469	350,000	PRN		DFND		0	350,000	0
CAMDEN PPTY TR	SH BEN INT	133131102	1,143	20,100	SH		DFND		0	20,100	0
CAMERON INTERNATIONAL CORP	COM	13342B105	2,203	37,000	SH		DFND		0	37,000	0
CANADIAN NATL RY CO	COM	136375102	14,380	252,200	SH		DFND		0	252,200	0
CANADIAN PAC RY LTD	COM	13645T100	1,422	9,400	SH		DFND		0	9,400	0
CAPITAL ONE FINL CORP	COM	14040H105	4,704	61,400	SH		DFND		0	61,400	0
CARLISLE COS INC	COM	142339100	4,653	58,600	SH		DFND		0	58,600	0
CASEYS GEN STORES INC	COM	147528103	5,437	77,400	SH		DFND		0	77,400	0
CATAMARAN CORP	COM	148887102	6,807	143,370	SH		DFND		0	143,370	0
CDN IMPERIAL BK OF COMMERCE	COM	136069101	2,238	26,200	SH		DFND		0	26,200	0
CERNER CORP	COM	156782104	10,802	193,800	SH		DFND		0	193,800	0
CHART INDS INC	COM PAR $0.01	16115Q308	2,869	30,000	SH		DFND		0	30,000	0
CHEVRON CORP NEW	COM	166764100	11,117	89,000	SH		DFND		0	89,000	0
CHICAGO BRIDGE & IRON CO N V	COM	167250109	9,312	112,000	SH		DFND		0	112,000	0
CHURCH & DWIGHT INC	COM	171340102	14,210	214,400	SH		DFND		0	214,400	0
CINTAS CORP	COM	172908105	1,394	23,400	SH		DFND		0	23,400	0
CLARCOR INC	COM	179895107	10,727	166,700	SH		DFND		0	166,700	0
CLEAN HARBORS INC	COM	184496107	4,083	68,100	SH		DFND		0	68,100	0
CLECO CORP NEW	COM	12561W105	1,604	34,400	SH		DFND		0	34,400	0
CNOOC LTD	SPONSORED ADR	126132109	1,614	8,600	SH		DFND		0	8,600	0
COCA COLA CO	COM	191216100	1,289	31,200	SH		DFND		0	31,200	0
COCA COLA FEMSA S A B DE C V	SPON ADR REP L	191241108	2,630	21,600	SH		DFND		0	21,600	0
COGNIZANT TECHNOLOGY SOLUTIO	CL A	192446102	14,460	143,200	SH		DFND		0	143,200	0
COHERENT INC	COM	192479103	298	4,000	SH		DFND		0	4,000	0
COMCAST CORP NEW	CL A SPL	20030N200	4,988	100,000	SH		DFND		0	100,000	0
COMMERCE BANCSHARES INC	COM	200525103	1,533	34,130	SH		DFND		0	34,130	0
COMMVAULT SYSTEMS INC	COM	204166102	517	6,900	SH		DFND		0	6,900	0
COMPANHIA DE SANEAMENTO BASI	SPONSORED ADR	20441A102	2,742	241,800	SH		DFND		0	241,800	0
COMPASS MINERALS INTL INC	COM	20451N101	600	7,500	SH		DFND		0	7,500	0
CONCUR TECHNOLOGIES INC	COM	206708109	4,963	48,100	SH		DFND		0	48,100	0
CONOCOPHILLIPS	COM	20825C104	1,929	27,300	SH		DFND		0	27,300	0
COOPER COS INC	COM NEW	216648402	1,065	8,600	SH		DFND		0	8,600	0
COPART INC	COM	217204106	1,774	48,400	SH		DFND		0	48,400	0
CORE LABORATORIES N V	COM	N22717107	4,220	22,100	SH		DFND		0	22,100	0
COSTCO WHSL CORP NEW	COM	22160K105	8,390	70,500	SH		DFND		0	70,500	0
CROWN CASTLE INTL CORP	COM	228227104	7,299	99,400	SH		DFND		0	99,400	0
CROWN HOLDINGS INC	COM	228368106	6,111	137,100	SH		DFND		0	137,100	0
CVS CAREMARK CORPORATION	COM	126650100	5,039	70,400	SH		DFND		0	70,400	0
CYTEC INDS INC	COM	232820100	3,279	35,200	SH		DFND		0	35,200	0
DANAHER CORP DEL	COM	235851102	16,366	212,000	SH		DFND		0	212,000	0
DAVITA HEALTHCARE PARTNERS I	COM	23918K108	621	9,800	SH		DFND		0	9,800	0
DENTSPLY INTL INC NEW	COM	249030107	3,413	70,400	SH		DFND		0	70,400	0
DIAGEO P L C	SPON ADR NEW	25243Q205	742	5,600	SH		DFND		0	5,600	0
DIAMOND OFFSHORE DRILLING IN	COM	25271C102	979	17,200	SH		DFND		0	17,200	0
DICKS SPORTING GOODS INC	COM	253393102	4,892	84,200	SH		DFND		0	84,200	0
DIGITAL RLTY TR INC	COM	253868103	884	18,000	SH		DFND		0	18,000	0
DIRECTV	COM	25490A309	4,988	72,200	SH		DFND		0	72,200	0
DISCOVER FINL SVCS	COM	254709108	3,049	54,500	SH		DFND		0	54,500	0
DISNEY WALT CO	COM DISNEY	254687106	4,615	60,400	SH		DFND		0	60,400	0
DOMINOS PIZZA INC	COM	25754A201	8,873	127,400	SH		DFND		0	127,400	0
DONALDSON INC	COM	257651109	7,779	179,000	SH		DFND		0	179,000	0
DR PEPPER SNAPPLE GROUP INC	COM	26138E109	1,725	35,400	SH		DFND		0	35,400	0
DRIL-QUIP INC	COM	262037104	901	8,200	SH		DFND		0	8,200	0
DSW INC	CL A	23334L102	2,051	48,000	SH		DFND		0	48,000	0
DU PONT E I DE NEMOURS & CO	COM	263534109	3,963	61,000	SH		DFND		0	61,000	0
DUKE ENERGY CORP NEW	COM NEW	26441C204	1,817	26,333	SH		DFND		0	26,333	0
DUN & BRADSTREET CORP DEL NE	COM	26483E100	3,265	26,600	SH		DFND		0	26,600	0
E M C CORP MASS	COM	268648102	4,739	188,442	SH		DFND		0	188,442	0
EATON VANCE CORP	COM NON VTG	278265103	599	14,000	SH		DFND		0	14,000	0
EBAY INC	COM	278642103	5,451	99,300	SH		DFND		0	99,300	0
ECOLAB INC	COM	278865100	14,952	143,400	SH		DFND		0	143,400	0
EDWARDS LIFESCIENCES CORP	COM	28176E108	2,617	39,800	SH		DFND		0	39,800	0
EL PASO ELEC CO	COM NEW	283677854	1,468	41,800	SH		DFND		0	41,800	0
EMERSON ELEC CO	COM	291011104	1,158	16,500	SH		DFND		0	16,500	0
ENBRIDGE INC	COM	29250N105	2,695	61,700	SH		DFND		0	61,700	0
ENERGEN CORP	COM	29265N108	566	8,000	SH		DFND		0	8,000	0
ENERGIZER HLDGS INC	COM	29266R108	7,165	66,200	SH		DFND		0	66,200	0
ENERSYS	COM	29275Y102	8,341	119,000	SH		DFND		0	119,000	0
ENERSYS	NOTE 3.375% 6/0	29275YAA0	353	200,000	PRN		DFND		0	200,000	0
ENPRO INDS INC	COM	29355X107	2,640	45,800	SH		DFND		0	45,800	0
ENSCO PLC	SHS CLASS A	G3157S106	2,142	37,455	SH		DFND		0	37,455	0
ENSTAR GROUP LIMITED	SHS	G3075P101	417	3,000	SH		DFND		0	3,000	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	3,978	60,000	SH		DFND		0	60,000	0
EOG RES INC	COM	26875P101	2,518	15,000	SH		DFND		0	15,000	0
EQT CORP	COM	26884L109	9,158	102,000	SH		DFND		0	102,000	0
EQUIFAX INC	COM	294429105	2,370	34,300	SH		DFND		0	34,300	0
EQUINIX INC	COM NEW	29444U502	5,856	33,000	SH		DFND		0	33,000	0
EQUINIX INC	NOTE 4.750% 6/1	29444UAH9	655	300,000	PRN		DFND		0	300,000	0
EQUITY LIFESTYLE PPTYS INC	COM	29472R108	2,536	70,000	SH		DFND		0	70,000	0
EQUITY ONE	COM	294752100	990	44,100	SH		DFND		0	44,100	0
ESSEX PPTY TR INC	COM	297178105	1,349	9,400	SH		DFND		0	9,400	0
ESTERLINE TECHNOLOGIES CORP	COM	297425100	10,573	103,700	SH		DFND		0	103,700	0
EVEREST RE GROUP LTD	COM	G3223R108	904	5,800	SH		DFND		0	5,800	0
EXPEDITORS INTL WASH INC	COM	302130109	3,651	82,500	SH		DFND		0	82,500	0
EXPRESS SCRIPTS HLDG CO	COM	30219G108	11,764	167,480	SH		DFND		0	167,480	0
EXXON MOBIL CORP	COM	30231G102	5,971	59,000	SH		DFND		0	59,000	0
F M C CORP	COM NEW	302491303	11,772	156,000	SH		DFND		0	156,000	0
FASTENAL CO	COM	311900104	2,803	59,000	SH		DFND		0	59,000	0
FEDEX CORP	COM	31428X106	13,083	91,000	SH		DFND		0	91,000	0
FIDELITY NATIONAL FINANCIAL	NOTE 4.250% 8/1	31620RAE5	490	300,000	PRN		DFND		0	300,000	0
FIDELITY NATL INFORMATION SV	COM	31620M106	483	9,000	SH		DFND		0	9,000	0
FIFTH & PAC COS INC	COM	316645100	1,090	34,000	SH		DFND		0	34,000	0
FIRST CASH FINL SVCS INC	COM	31942D107	1,905	30,800	SH		DFND		0	30,800	0
FIRST FINL BANKSHARES	COM	32020R109	1,981	29,874	SH		DFND		0	29,874	0
FISERV INC	COM	337738108	2,456	41,600	SH		DFND		0	41,600	0
FLOWERS FOODS INC	COM	343498101	13,420	625,037	SH		DFND		0	625,037	0
FLOWSERVE CORP	COM	34354P105	2,223	28,200	SH		DFND		0	28,200	0
FMC TECHNOLOGIES INC	COM	30249U101	6,683	128,000	SH		DFND		0	128,000	0
FOMENTO ECONOMICO MEXICANO S	SPON ADR UNITS	344419106	2,486	25,400	SH		DFND		0	25,400	0
FRANKLIN ELEC INC	COM	353514102	527	11,800	SH		DFND		0	11,800	0
FRANKLIN RES INC	COM	354613101	1,732	30,000	SH		DFND		0	30,000	0
GAMING & LEISURE PPTYS INC	COM	36467J108	3,425	67,400	SH		DFND		0	67,400	0
GENERAL DYNAMICS CORP	COM	369550108	7,854	82,200	SH		DFND		0	82,200	0
GENERAL MLS INC	COM	370334104	12,672	253,900	SH		DFND		0	253,900	0
GENERAL MTRS CO	COM	37045V100	225	5,494	SH		DFND		0	5,494	0
GENESEE & WYO INC	CL A	371559105	5,023	52,300	SH		DFND		0	52,300	0
GENUINE PARTS CO	COM	372460105	3,161	38,000	SH		DFND		0	38,000	0
GILDAN ACTIVEWEAR INC	COM	375916103	2,052	38,500	SH		DFND		0	38,500	0
GILEAD SCIENCES INC	COM	375558103	4,734	63,000	SH		DFND		0	63,000	0
GILEAD SCIENCES INC	NOTE 1.625% 5/0	375558AP8	330	100,000	PRN		DFND		0	100,000	0
GLOBAL PMTS INC	COM	37940X102	2,743	42,200	SH		DFND		0	42,200	0
GOODRICH PETE CORP	NOTE 5.000%10/0	382410AC2	254	250,000	PRN		DFND		0	250,000	0
GOOGLE INC	CL A	38259P508	8,517	7,600	SH		DFND		0	7,600	0
GRACO INC	COM	384109104	5,000	64,000	SH		DFND		0	64,000	0
GRAINGER W W INC	COM	384802104	10,498	41,100	SH		DFND		0	41,100	0
GREIF INC	CL A	397624107	2,442	46,600	SH		DFND		0	46,600	0
GROUPE CGI INC	CL A SUB VTG	39945C109	301	9,000	SH		DFND		0	9,000	0
GRUPO AEROPORTUARIO DEL SURE	SPON ADR SER B	40051E202	212	1,700	SH		DFND		0	1,700	0
HARRIS CORP DEL	COM	413875105	2,248	32,200	SH		DFND		0	32,200	0
HARRIS TEETER SUPERMARKETS I	COM	414585109	2,764	56,000	SH		DFND		0	56,000	0
HARTFORD FINL SVCS GROUP INC	COM	416515104	1,948	53,760	SH		DFND		0	53,760	0
HDFC BANK LTD	ADR REPS 3 SHS	40415F101	2,600	75,500	SH		DFND		0	75,500	0
HEALTH CARE REIT INC	COM	42217K106	1,361	25,400	SH		DFND		0	25,400	0
HEALTHCARE SVCS GRP INC	COM	421906108	1,180	41,600	SH		DFND		0	41,600	0
HEARTLAND PMT SYS INC	COM	42235N108	887	17,800	SH		DFND		0	17,800	0
HEICO CORP NEW	COM	422806109	11,003	189,868	SH		DFND		0	189,868	0
HESS CORP	COM	42809H107	1,336	16,100	SH		DFND		0	16,100	0
HMS HLDGS CORP	COM	40425J101	582	25,600	SH		DFND		0	25,600	0
HOME DEPOT INC	COM	437076102	1,120	13,600	SH		DFND		0	13,600	0
HORMEL FOODS CORP	COM	440452100	8,465	187,400	SH		DFND		0	187,400	0
HORNBECK OFFSHORE SVCS INC N	COM	440543106	2,511	51,000	SH		DFND		0	51,000	0
HUB GROUP INC	CL A	443320106	207	5,200	SH		DFND		0	5,200	0
HUNT J B TRANS SVCS INC	COM	445658107	5,233	67,700	SH		DFND		0	67,700	0
HUNTINGTON BANCSHARES INC	PFD CONV SER A	446150401	316	250	SH		DFND		0	250	0
IDEX CORP	COM	45167R104	15,379	208,250	SH		DFND		0	208,250	0
IDEXX LABS INC	COM	45168D104	9,073	85,300	SH		DFND		0	85,300	0
IHS INC	CL A	451734107	4,345	36,300	SH		DFND		0	36,300	0
ILLINOIS TOOL WKS INC	COM	452308109	1,135	13,500	SH		DFND		0	13,500	0
INGREDION INC	COM	457187102	3,635	53,100	SH		DFND		0	53,100	0
INSULET CORP	NOTE 3.750% 6/1	45784PAC5	441	300,000	PRN		DFND		0	300,000	0
INTEL CORP	COM	458140100	5,711	220,000	SH		DFND		0	220,000	0
INTEL CORP	SDCV 3.250% 8/0	458140AF7	204	150,000	PRN		DFND		0	150,000	0
INTERNATIONAL BUSINESS MACHS	COM	459200101	5,064	27,000	SH		DFND		0	27,000	0
INTERNATIONAL GAME TECHNOLOG	NOTE 3.250% 5/0	459902AQ5	212	200,000	PRN		DFND		0	200,000	0
INTUIT	COM	461202103	2,587	33,900	SH		DFND		0	33,900	0
IRON MTN INC	COM	462846106	1,143	37,665	SH		DFND		0	37,665	0
ITC HLDGS CORP	COM	465685105	10,741	112,100	SH		DFND		0	112,100	0
ITT CORP NEW	COM NEW	450911201	6,576	151,450	SH		DFND		0	151,450	0
J & J SNACK FOODS CORP	COM	466032109	3,933	44,400	SH		DFND		0	44,400	0
J2 GLOBAL INC	COM	48123V102	2,385	47,700	SH		DFND		0	47,700	0
JOHNSON & JOHNSON	COM	478160104	3,306	36,100	SH		DFND		0	36,100	0
JOHNSON CTLS INC	COM	478366107	1,693	33,000	SH		DFND		0	33,000	0
JPMORGAN CHASE & CO	COM	46625H100	6,059	103,600	SH		DFND		0	103,600	0
KANSAS CITY SOUTHERN	COM NEW	485170302	9,002	72,700	SH		DFND		0	72,700	0
KAPSTONE PAPER & PACKAGING C	COM	48562P103	1,575	28,200	SH		DFND		0	28,200	0
KIRBY CORP	COM	497266106	15,523	156,400	SH		DFND		0	156,400	0
KROGER CO	COM	501044101	1,696	42,900	SH		DFND		0	42,900	0
L-3 COMMUNICATIONS HLDGS INC	COM	502424104	1,859	17,400	SH		DFND		0	17,400	0
LAM RESEARCH CORP	NOTE 1.250% 5/1	512807AL2	243	200,000	PRN		DFND		0	200,000	0
LANDSTAR SYS INC	COM	515098101	287	5,000	SH		DFND		0	5,000	0
LAS VEGAS SANDS CORP	COM	517834107	5,363	68,000	SH		DFND		0	68,000	0
LENNOX INTL INC	COM	526107107	7,791	91,600	SH		DFND		0	91,600	0
LIFE TIME FITNESS INC	COM	53217R207	1,485	31,600	SH		DFND		0	31,600	0
LILLY ELI & CO	COM	532457108	1,147	22,500	SH		DFND		0	22,500	0
LINCOLN ELEC HLDGS INC	COM	533900106	8,917	125,000	SH		DFND		0	125,000	0
LKQ CORP	COM	501889208	14,121	429,200	SH		DFND		0	429,200	0
LOCKHEED MARTIN CORP	COM	539830109	1,591	10,700	SH		DFND		0	10,700	0
LOWES COS INC	COM	548661107	1,932	39,000	SH		DFND		0	39,000	0
LUXOTTICA GROUP S P A	SPONSORED ADR	55068R202	496	9,200	SH		DFND		0	9,200	0
M & T BK CORP	COM	55261F104	11,211	96,300	SH		DFND		0	96,300	0
MACQUARIE INFRASTR CO LLC	MEMBERSHIP INT	55608B105	882	16,200	SH		DFND		0	16,200	0
MASTEC INC	NOTE 4.000% 6/1	576323AL3	312	150,000	PRN		DFND		0	150,000	0
MASTERCARD INC	CL A	57636Q104	15,372	18,400	SH		DFND		0	18,400	0
MCCORMICK & CO INC	COM NON VTG	579780206	758	11,000	SH		DFND		0	11,000	0
MCDONALDS CORP	COM	580135101	13,118	135,200	SH		DFND		0	135,200	0
MCKESSON CORP	COM	58155Q103	8,441	52,300	SH		DFND		0	52,300	0
MDU RES GROUP INC	COM	552690109	819	26,800	SH		DFND		0	26,800	0
MEDNAX INC	COM	58502B106	6,950	130,200	SH		DFND		0	130,200	0
MERCK & CO INC NEW	COM	58933Y105	2,392	47,800	SH		DFND		0	47,800	0
METLIFE INC	COM	59156R108	1,837	34,072	SH		DFND		0	34,072	0
METLIFE INC	UNIT 99/99/9999	59156R116	505	16,000	SH		DFND		0	16,000	0
METTLER TOLEDO INTERNATIONAL	COM	592688105	10,965	45,200	SH		DFND		0	45,200	0
MGM RESORTS INTERNATIONAL	NOTE 4.250% 4/1	55303QAE0	275	200,000	PRN		DFND		0	200,000	0
MICROS SYS INC	COM	594901100	2,897	50,500	SH		DFND		0	50,500	0
MICROSOFT CORP	COM	594918104	3,174	84,800	SH		DFND		0	84,800	0
MIDDLEBY CORP	COM	596278101	10,631	44,300	SH		DFND		0	44,300	0
MONRO MUFFLER BRAKE INC	COM	610236101	1,172	20,800	SH		DFND		0	20,800	0
MONSANTO CO NEW	COM	61166W101	2,214	19,000	SH		DFND		0	19,000	0
MOTOROLA SOLUTIONS INC	COM NEW	620076307	2,435	36,071	SH		DFND		0	36,071	0
MOVADO GROUP INC	COM	624580106	449	10,200	SH		DFND		0	10,200	0
MSC INDL DIRECT INC	CL A	553530106	1,262	15,600	SH		DFND		0	15,600	0
MWI VETERINARY SUPPLY INC	COM	55402X105	4,725	27,700	SH		DFND		0	27,700	0
NAVISTAR INTL CORP NEW	NOTE 3.000%10/1	63934EAL2	307	300,000	PRN		DFND		0	300,000	0
NCR CORP NEW	COM	62886E108	681	20,000	SH		DFND		0	20,000	0
NEW JERSEY RES	COM	646025106	1,276	27,600	SH		DFND		0	27,600	0
NEWMARKET CORP	COM	651587107	11,328	33,900	SH		DFND		0	33,900	0
NEXTERA ENERGY INC	COM	65339F101	2,483	29,000	SH		DFND		0	29,000	0
NIKE INC	CL B	654106103	7,015	89,200	SH		DFND		0	89,200	0
NOBLE ENERGY INC	COM	655044105	9,726	142,800	SH		DFND		0	142,800	0
NORDSON CORP	COM	655663102	2,853	38,400	SH		DFND		0	38,400	0
NORTHROP GRUMMAN CORP	COM	666807102	1,215	10,600	SH		DFND		0	10,600	0
NORTHWEST NAT GAS CO	COM	667655104	976	22,800	SH		DFND		0	22,800	0
NORTHWESTERN CORP	COM NEW	668074305	295	6,800	SH		DFND		0	6,800	0
NOVARTIS A G	SPONSORED ADR	66987V109	3,424	42,600	SH		DFND		0	42,600	0
NOVO-NORDISK A S	ADR	670100205	11,935	64,600	SH		DFND		0	64,600	0
O REILLY AUTOMOTIVE INC NEW	COM	67103H107	9,241	71,800	SH		DFND		0	71,800	0
OCEANEERING INTL INC	COM	675232102	1,499	19,000	SH		DFND		0	19,000	0
OCI PARTNERS LP	COM UNIT REP LP	67091N108	955	34,600	SH		DFND		0	34,600	0
OIL STS INTL INC	COM	678026105	509	5,000	SH		DFND		0	5,000	0
ONEOK INC NEW	COM	682680103	4,788	77,000	SH		DFND		0	77,000	0
OPEN TEXT CORP	COM	683715106	1,950	21,200	SH		DFND		0	21,200	0
ORACLE CORP	COM	68389X105	4,036	105,500	SH		DFND		0	105,500	0
OSHKOSH CORP	COM	688239201	4,600	91,300	SH		DFND		0	91,300	0
OWENS & MINOR INC NEW	COM	690732102	1,163	31,800	SH		DFND		0	31,800	0
PACKAGING CORP AMER	COM	695156109	4,885	77,200	SH		DFND		0	77,200	0
PARKER HANNIFIN CORP	COM	701094104	11,603	90,200	SH		DFND		0	90,200	0
PARTNERRE LTD	COM	G6852T105	3,859	36,600	SH		DFND		0	36,600	0
PEABODY ENERGY CORP	SDCV 4.750%12/1	704549AG9	632	800,000	PRN		DFND		0	800,000	0
PENN NATL GAMING INC	COM	707569109	966	67,400	SH		DFND		0	67,400	0
PEOPLES UNITED FINANCIAL INC	COM	712704105	1,724	114,000	SH		DFND		0	114,000	0
PEPSICO INC	COM	713448108	12,798	154,300	SH		DFND		0	154,300	0
PFIZER INC	COM	717081103	2,860	93,388	SH		DFND		0	93,388	0
PIEDMONT NAT GAS INC	COM	720186105	1,937	58,400	SH		DFND		0	58,400	0
PIONEER NAT RES CO	COM	723787107	984	5,346	SH		DFND		0	5,346	0
POOL CORPORATION	COM	73278L105	1,331	22,900	SH		DFND		0	22,900	0
PORTFOLIO RECOVERY ASSOCS IN	COM	73640Q105	4,676	88,500	SH		DFND		0	88,500	0
PRAXAIR INC	COM	74005P104	13,744	105,700	SH		DFND		0	105,700	0
PRECISION CASTPARTS CORP	COM	740189105	15,431	57,300	SH		DFND		0	57,300	0
PRICE T ROWE GROUP INC	COM	74144T108	4,021	48,000	SH		DFND		0	48,000	0
PRICELINE COM INC	COM NEW	741503403	3,022	2,600	SH		DFND		0	2,600	0
PRINCIPAL FINL GROUP INC	COM	74251V102	493	10,000	SH		DFND		0	10,000	0
PROASSURANCE CORP	COM	74267C106	7,224	149,000	SH		DFND		0	149,000	0
PROCTER & GAMBLE CO	COM	742718109	2,687	33,000	SH		DFND		0	33,000	0
PROSPERITY BANCSHARES INC	COM	743606105	3,081	48,600	SH		DFND		0	48,600	0
PRUDENTIAL FINL INC	COM	744320102	6,474	70,200	SH		DFND		0	70,200	0
PTC INC	COM	69370C100	212	6,000	SH		DFND		0	6,000	0
QUALCOMM INC	COM	747525103	4,626	62,300	SH		DFND		0	62,300	0
QUESTAR CORP	COM	748356102	4,904	213,300	SH		DFND		0	213,300	0
RALPH LAUREN CORP	CL A	751212101	2,295	13,000	SH		DFND		0	13,000	0
RAYTHEON CO	COM NEW	755111507	3,528	38,900	SH		DFND		0	38,900	0
RBC BEARINGS INC	COM	75524B104	637	9,000	SH		DFND		0	9,000	0
RENAISSANCERE HOLDINGS LTD	COM	G7496G103	389	4,000	SH		DFND		0	4,000	0
REPUBLIC SVCS INC	COM	760759100	7,241	218,100	SH		DFND		0	218,100	0
RESMED INC	COM	761152107	612	13,000	SH		DFND		0	13,000	0
REYNOLDS AMERICAN INC	COM	761713106	4,549	91,000	SH		DFND		0	91,000	0
RLI CORP	COM	749607107	5,366	55,100	SH		DFND		0	55,100	0
ROCKWELL AUTOMATION INC	COM	773903109	2,517	21,300	SH		DFND		0	21,300	0
ROCKWOOD HLDGS INC	COM	774415103	4,790	66,600	SH		DFND		0	66,600	0
ROLLINS INC	COM	775711104	10,353	341,800	SH		DFND		0	341,800	0
ROPER INDS INC NEW	COM	776696106	17,030	122,800	SH		DFND		0	122,800	0
ROYAL BK CDA MONTREAL QUE	COM	780087102	5,405	80,400	SH		DFND		0	80,400	0
ROYAL DUTCH SHELL PLC	SPON ADR B	780259107	1,923	25,600	SH		DFND		0	25,600	0
RUSH ENTERPRISES INC	CL A	781846209	2,185	73,700	SH		DFND		0	73,700	0
RYANAIR HLDGS PLC	SPONSORED ADR	783513104	235	5,000	SH		DFND		0	5,000	0
SAFEWAY INC	COM NEW	786514208	2,122	65,158	SH		DFND		0	65,158	0
SALESFORCE COM INC	COM	79466L302	14,239	258,000	SH		DFND		0	258,000	0
SALIX PHARMACEUTICALS INC	NOTE 2.750% 5/1	795435AC0	242	123,000	PRN		DFND		0	123,000	0
SANDISK CORP	NOTE 1.500% 8/1	80004CAD3	221	150,000	PRN		DFND		0	150,000	0
SANOFI	SPONSORED ADR	80105N105	1,781	33,200	SH		DFND		0	33,200	0
SAP AG	SPON ADR	803054204	5,220	59,900	SH		DFND		0	59,900	0
SBA COMMUNICATIONS CORP	COM	78388J106	12,398	138,000	SH		DFND		0	138,000	0
SCHEIN HENRY INC	COM	806407102	13,106	114,700	SH		DFND		0	114,700	0
SCHLUMBERGER LTD	COM	806857108	5,335	59,200	SH		DFND		0	59,200	0
SCHWAB CHARLES CORP NEW	COM	808513105	3,120	120,000	SH		DFND		0	120,000	0
SCOTTS MIRACLE GRO CO	CL A	810186106	5,811	93,400	SH		DFND		0	93,400	0
SEMPRA ENERGY	COM	816851109	2,756	30,700	SH		DFND		0	30,700	0
SIGMA ALDRICH CORP	COM	826552101	12,757	135,700	SH		DFND		0	135,700	0
SIGNATURE BK NEW YORK N Y	COM	82669G104	902	8,400	SH		DFND		0	8,400	0
SIGNET JEWELERS LIMITED	SHS	G81276100	1,118	14,200	SH		DFND		0	14,200	0
SILGAN HOLDINGS INC	COM	827048109	8,303	172,900	SH		DFND		0	172,900	0
SNAP ON INC	COM	833034101	438	4,000	SH		DFND		0	4,000	0
SOUTH JERSEY INDS INC	COM	838518108	6,435	115,000	SH		DFND		0	115,000	0
SOUTHWEST GAS CORP	COM	844895102	2,494	44,600	SH		DFND		0	44,600	0
STAPLES INC	COM	855030102	1,551	97,600	SH		DFND		0	97,600	0
STARBUCKS CORP	COM	855244109	9,665	123,300	SH		DFND		0	123,300	0
STATE STR CORP	COM	857477103	2,429	33,100	SH		DFND		0	33,100	0
STEEL DYNAMICS INC	NOTE 5.125% 6/1	858119AP5	412	350,000	PRN		DFND		0	350,000	0
STERICYCLE INC	COM	858912108	14,126	121,600	SH		DFND		0	121,600	0
STERIS CORP	COM	859152100	625	13,000	SH		DFND		0	13,000	0
STIFEL FINL CORP	COM	860630102	8,290	173,000	SH		DFND		0	173,000	0
SYNGENTA AG	SPONSORED ADR	87160A100	1,023	12,800	SH		DFND		0	12,800	0
TARGET CORP	COM	87612E106	3,695	58,400	SH		DFND		0	58,400	0
TAUBMAN CTRS INC	COM	876664103	511	8,000	SH		DFND		0	8,000	0
TE CONNECTIVITY LTD	REG SHS	H84989104	1,179	21,400	SH		DFND		0	21,400	0
TELEDYNE TECHNOLOGIES INC	COM	879360105	8,405	91,500	SH		DFND		0	91,500	0
TEVA PHARMACEUTICAL INDS LTD	ADR	881624209	3,657	91,237	SH		DFND		0	91,237	0
TEXAS INSTRS INC	COM	882508104	2,415	55,000	SH		DFND		0	55,000	0
THE ADT CORPORATION	COM	00101J106	3,930	97,100	SH		DFND		0	97,100	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	14,086	126,500	SH		DFND		0	126,500	0
TIME WARNER CABLE INC	COM	88732j207	1,721	12,700	SH		DFND		0	12,700	0
TJX COS INC NEW	COM	872540109	19,195	301,200	SH		DFND		0	301,200	0
TORO CO	COM	891092108	14,259	224,200	SH		DFND		0	224,200	0
TORONTO DOMINION BK ONT	COM NEW	891160509	1,761	18,684	SH		DFND		0	18,684	0
TOTAL S A	SPONSORED ADR	89151E109	1,807	29,500	SH		DFND		0	29,500	0
TOWER GROUP INC	NOTE 5.000% 9/1	891777AC8	169	200,000	PRN		DFND		0	200,000	0
TOWERS WATSON & CO	CL A	891894107	1,876	14,700	SH		DFND		0	14,700	0
TRANSCANADA CORP	COM	89353D107	4,356	95,400	SH		DFND		0	95,400	0
TRANSOCEAN LTD	REG SHS	H8817H100	1,186	24,000	SH		DFND		0	24,000	0
TRIMBLE NAVIGATION LTD	COM	896239100	2,110	60,800	SH		DFND		0	60,800	0
TRINITY INDS INC	NOTE 3.875% 6/0	896522AF6	395	300,000	PRN		DFND		0	300,000	0
TYCO INTERNATIONAL LTD	SHS	H89128104	2,680	65,300	SH		DFND		0	65,300	0
TYLER TECHNOLOGIES INC	COM	902252105	2,171	21,258	SH		DFND		0	21,258	0
ULTIMATE SOFTWARE GROUP INC	COM	90385D107	6,512	42,500	SH		DFND		0	42,500	0
ULTRAPAR PARTICIPACOES S A	SP ADR REP COM	90400P101	771	32,600	SH		DFND		0	32,600	0
UNION PAC CORP	COM	907818108	10,836	64,500	SH		DFND		0	64,500	0
UNITED TECHNOLOGIES CORP	COM	913017109	16,933	148,800	SH		DFND		0	148,800	0
UNITEDHEALTH GROUP INC	COM	91324P102	4,367	58,000	SH		DFND		0	58,000	0
UNIVERSAL HLTH SVCS INC	CL B	913903100	1,706	21,000	SH		DFND		0	21,000	0
US BANCORP DEL	COM NEW	902973304	5,502	136,200	SH		DFND		0	136,200	0
V F CORP	COM	918204108	4,189	67,200	SH		DFND		0	67,200	0
VALMONT INDS INC	COM	920253101	10,528	70,600	SH		DFND		0	70,600	0
VALSPAR CORP	COM	920355104	8,156	114,400	SH		DFND		0	114,400	0
VCA ANTECH INC	COM	918194101	1,756	56,000	SH		DFND		0	56,000	0
VERIZON COMMUNICATIONS INC	COM	92343V104	1,676	34,100	SH		DFND		0	34,100	0
VIACOM INC NEW	CL B	92553P201	2,620	30,000	SH		DFND		0	30,000	0
VISA INC	COM CL A	92826C839	2,895	13,000	SH		DFND		0	13,000	0
VMWARE INC	CL A COM	928563402	2,153	24,000	SH		DFND		0	24,000	0
WABTEC CORP	COM	929740108	10,732	144,500	SH		DFND		0	144,500	0
WALGREEN CO	COM	931422109	2,240	39,000	SH		DFND		0	39,000	0
WAL-MART STORES INC	COM	931142103	2,148	27,300	SH		DFND		0	27,300	0
WASTE CONNECTIONS INC	COM	941053100	16,067	368,250	SH		DFND		0	368,250	0
WELLPOINT INC	COM	94973V107	647	7,000	SH		DFND		0	7,000	0
WELLS FARGO & CO NEW	COM	949746101	5,321	117,200	SH		DFND		0	117,200	0
WELLS FARGO & CO NEW	PERP PFD CNV A	949746804	276	250	SH		DFND		0	250	0
WEX INC	COM	96208T104	9,616	97,100	SH		DFND		0	97,100	0
WHOLE FOODS MKT INC	COM	966837106	5,529	95,600	SH		DFND		0	95,600	0
WILEY JOHN & SONS INC	CL A	968223206	613	11,100	SH		DFND		0	11,100	0
WISCONSIN ENERGY CORP	COM	976657106	4,845	117,200	SH		DFND		0	117,200	0
WOLVERINE WORLD WIDE INC	COM	978097103	10,748	316,500	SH		DFND		0	316,500	0
WOODWARD INC	COM	980745103	2,353	51,600	SH		DFND		0	51,600	0
XCEL ENERGY INC	COM	98389B100	1,092	39,100	SH		DFND		0	39,100	0
XILINX INC	NOTE 2.625% 6/1	983919AF8	319	200,000	PRN		DFND		0	200,000	0
XILINX INC	SDCV 3.125% 3/1	983919AD3	1,583	1,000,000	PRN		DFND		0	1,000,000	0
YUM BRANDS INC	COM	988498101	14,063	186,000	SH		DFND		0	186,000	0