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
ABBVIE INC	COM	00287Y109	1,975	35,000	SH		DFND		0	35,000	0
ACCENTURE PLC IRELAND	SHS CLASS A	G1151C101	8,262	102,200	SH		DFND		0	102,200	0
ACE LTD	SHS	H0023R105	1,867	18,000	SH		DFND		0	18,000	0
ACTAVIS PLC	SHS	G0083B108	7,517	33,700	SH		DFND		0	33,700	0
ACTIVISION BLIZZARD INC	COM	00507V109	5,463	245,000	SH		DFND		0	245,000	0
ACTUANT CORP	CL A NEW	00508X203	1,832	53,000	SH		DFND		0	53,000	0
ACUITY BRANDS INC	COM	00508Y102	18,304	132,400	SH		DFND		0	132,400	0
ADVENT SOFTWARE INC	COM	007974108	1,524	46,800	SH		DFND		0	46,800	0
ADVISORY BRD CO	COM	00762W107	2,631	50,800	SH		DFND		0	50,800	0
AFFILIATED MANAGERS GROUP	COM	008252108	11,872	57,800	SH		DFND		0	57,800	0
AFLAC INC	COM	001055102	7,763	124,700	SH		DFND		0	124,700	0
AGL RES INC	COM	001204106	1,370	24,900	SH		DFND		0	24,900	0
AIR PRODS & CHEMS INC	COM	009158106	1,929	15,000	SH		DFND		0	15,000	0
AIRGAS INC	COM	009363102	3,550	32,600	SH		DFND		0	32,600	0
AKORN INC	COM	009728106	3,079	92,600	SH		DFND		0	92,600	0
ALBEMARLE CORP	COM	012653101	722	10,100	SH		DFND		0	10,100	0
ALERE INC	NOTE 3.000% 5/1	01449JAA3	1,107	1,000,000	PRN		DFND		0	1,000,000	0
ALEXION PHARMACEUTICALS INC	COM	015351109	14,781	94,600	SH		DFND		0	94,600	0
ALLEGHANY CORP DEL	COM	017175100	2,410	5,500	SH		DFND		0	5,500	0
ALLERGAN INC	COM	018490102	14,993	88,600	SH		DFND		0	88,600	0
ALLIANCE DATA SYSTEMS CORP	COM	018581108	16,228	57,700	SH		DFND		0	57,700	0
ALLIANT TECHSYSTEMS INC	COM	018804104	1,875	14,000	SH		DFND		0	14,000	0
ALLIANT TECHSYSTEMS INC	NOTE 3.000% 8/1	018804AK0	269	150,000	PRN		DFND		0	150,000	0
ALLIED WRLD ASSUR COM HLDG A	SHS	H01531104	616	16,200	SH		DFND		0	16,200	0
AMAZON COM INC	COM	023135106	1,949	6,000	SH		DFND		0	6,000	0
AMBEV SA	SPONSORED ADR	02319V103	4,576	650,000	SH		DFND		0	650,000	0
AMERICAN CAMPUS CMNTYS INC	COM	024835100	398	10,400	SH		DFND		0	10,400	0
AMERICAN ELEC PWR INC	COM	025537101	1,417	25,400	SH		DFND		0	25,400	0
AMERICAN STS WTR CO	COM	029899101	1,761	53,000	SH		DFND		0	53,000	0
AMERICAN TOWER CORP NEW	COM	03027X100	10,969	121,900	SH		DFND		0	121,900	0
AMERIPRISE FINL INC	COM	03076C106	1,164	9,700	SH		DFND		0	9,700	0
AMETEK INC NEW	COM	031100100	17,358	332,025	SH		DFND		0	332,025	0
AMGEN INC	COM	031162100	2,095	17,700	SH		DFND		0	17,700	0
AMPHENOL CORP NEW	CL A	032095101	8,295	86,100	SH		DFND		0	86,100	0
AMTRUST FINL SVCS INC	COM	032359309	270	6,460	SH		DFND		0	6,460	0
ANIXTER INTL INC	COM	035290105	4,853	48,500	SH		DFND		0	48,500	0
ANSYS INC	COM	03662Q105	11,997	158,226	SH		DFND		0	158,226	0
APPLE INC	COM	037833100	11,124	119,700	SH		DFND		0	119,700	0
APPLIED INDL TECHNOLOGIES IN	COM	03820C105	933	18,400	SH		DFND		0	18,400	0
APTARGROUP INC	COM	038336103	10,313	153,900	SH		DFND		0	153,900	0
ARCH CAP GROUP LTD	ORD	G0450A105	8,961	156,000	SH		DFND		0	156,000	0
ARM HLDGS PLC	SPONSORED ADR	042068106	2,248	49,700	SH		DFND		0	49,700	0
AT&T INC	COM	00206R102	3,112	88,000	SH		DFND		0	88,000	0
ATMOS ENERGY CORP	COM	049560105	1,741	32,600	SH		DFND		0	32,600	0
ATWOOD OCEANICS INC	COM	050095108	2,844	54,200	SH		DFND		0	54,200	0
AUTOMATIC DATA PROCESSING IN	COM	053015103	4,019	50,700	SH		DFND		0	50,700	0
AUTOZONE INC	COM	053332102	16,623	31,000	SH		DFND		0	31,000	0
AVAGO TECHNOLOGIES LTD	SHS	Y0486S104	2,306	32,000	SH		DFND		0	32,000	0
AZZ INC	COM	002474104	4,866	105,600	SH		DFND		0	105,600	0
BALL CORP	COM	058498106	3,836	61,200	SH		DFND		0	61,200	0
BANCO DE CHILE	SPONSORED ADR	059520106	666	8,316	SH		DFND		0	8,316	0
BANK MONTREAL QUE	COM	063671101	2,355	32,000	SH		DFND		0	32,000	0
BANK N S HALIFAX	COM	064149107	1,838	27,600	SH		DFND		0	27,600	0
BARD C R INC	COM	067383109	7,351	51,400	SH		DFND		0	51,400	0
BCE INC	COM NEW	05534B760	4,763	105,000	SH		DFND		0	105,000	0
BECTON DICKINSON & CO	COM	075887109	2,898	24,500	SH		DFND		0	24,500	0
BIO RAD LABS INC	CL A	090572207	670	5,600	SH		DFND		0	5,600	0
BIOGEN IDEC INC	COM	09062X103	3,784	12,000	SH		DFND		0	12,000	0
BIO-REFERENCE LABS INC	COM $.01 NEW	09057G602	429	14,200	SH		DFND		0	14,200	0
BLACKROCK INC	COM	09247X101	9,077	28,400	SH		DFND		0	28,400	0
BOEING CO	COM	097023105	3,054	24,000	SH		DFND		0	24,000	0
BOK FINL CORP	COM NEW	05561Q201	373	5,600	SH		DFND		0	5,600	0
BORGWARNER INC	COM	099724106	9,622	147,600	SH		DFND		0	147,600	0
BOSTON BEER INC	CL A	100557107	6,236	27,900	SH		DFND		0	27,900	0
BRF SA	SPONSORED ADR	10552T107	2,893	119,000	SH		DFND		0	119,000	0
BRINKER INTL INC	COM	109641100	12,430	255,500	SH		DFND		0	255,500	0
BRISTOL MYERS SQUIBB CO	COM	110122108	1,087	22,400	SH		DFND		0	22,400	0
BRISTOW GROUP INC	NOTE 3.000% 6/1	110394AC7	317	250,000	PRN		DFND		0	250,000	0
BRITISH AMERN TOB PLC	SPONSORED ADR	110448107	5,704	47,900	SH		DFND		0	47,900	0
BROWN & BROWN INC	COM	115236101	2,242	73,000	SH		DFND		0	73,000	0
BROWN FORMAN CORP	CL B	115637209	2,194	23,300	SH		DFND		0	23,300	0
BUCKLE INC	COM	118440106	2,755	62,100	SH		DFND		0	62,100	0
BUFFALO WILD WINGS INC	COM	119848109	8,633	52,100	SH		DFND		0	52,100	0
BUNGE LIMITED	COM	G16962105	3,184	42,100	SH		DFND		0	42,100	0
CAMDEN PPTY TR	SH BEN INT	133131102	1,210	17,000	SH		DFND		0	17,000	0
CAMERON INTERNATIONAL CORP	COM	13342B105	2,505	37,000	SH		DFND		0	37,000	0
CANADIAN NATL RY CO	COM	136375102	13,537	208,200	SH		DFND		0	208,200	0
CANADIAN PAC RY LTD	COM	13645T100	2,246	12,400	SH		DFND		0	12,400	0
CAPITAL ONE FINL CORP	COM	14040H105	5,072	61,400	SH		DFND		0	61,400	0
CARLISLE COS INC	COM	142339100	5,804	67,000	SH		DFND		0	67,000	0
CASEYS GEN STORES INC	COM	147528103	5,581	79,400	SH		DFND		0	79,400	0
CATAMARAN CORP	COM	148887102	2,999	67,914	SH		DFND		0	67,914	0
CDN IMPERIAL BK COMM TORONTO	COM	136069101	2,384	26,200	SH		DFND		0	26,200	0
CERNER CORP	COM	156782104	11,507	223,100	SH		DFND		0	223,100	0
CHART INDS INC	COM PAR $0.01	16115Q308	1,307	15,800	SH		DFND		0	15,800	0
CHEVRON CORP NEW	COM	166764100	2,807	21,500	SH		DFND		0	21,500	0
CHICAGO BRIDGE & IRON CO N V	COM	167250109	8,184	120,000	SH		DFND		0	120,000	0
CHURCH & DWIGHT INC	COM	171340102	14,997	214,400	SH		DFND		0	214,400	0
CINTAS CORP	COM	172908105	1,487	23,400	SH		DFND		0	23,400	0
CLARCOR INC	COM	179895107	10,310	166,700	SH		DFND		0	166,700	0
CLEAN HARBORS INC	COM	184496107	4,375	68,100	SH		DFND		0	68,100	0
CLECO CORP NEW	COM	12561W105	2,028	34,400	SH		DFND		0	34,400	0
CNOOC LTD	SPONSORED ADR	126132109	789	4,400	SH		DFND		0	4,400	0
COCA COLA CO	COM	191216100	1,745	41,200	SH		DFND		0	41,200	0
COCA COLA FEMSA S A B DE C V	SPON ADR REP L	191241108	2,795	24,600	SH		DFND		0	24,600	0
COGNIZANT TECHNOLOGY SOLUTIO	CL A	192446102	14,653	299,600	SH		DFND		0	299,600	0
COMCAST CORP NEW	CL A SPL	20030N200	5,333	100,000	SH		DFND		0	100,000	0
COMMERCE BANCSHARES INC	COM	200525103	2,006	43,130	SH		DFND		0	43,130	0
COMPANHIA DE SANEAMENTO BASI	SPONSORED ADR	20441A102	2,592	241,800	SH		DFND		0	241,800	0
COMPASS MINERALS INTL INC	COM	20451N101	258	2,700	SH		DFND		0	2,700	0
CONCUR TECHNOLOGIES INC	COM	206708109	4,490	48,100	SH		DFND		0	48,100	0
CONOCOPHILLIPS	COM	20825C104	2,340	27,300	SH		DFND		0	27,300	0
COOPER COS INC	COM NEW	216648402	976	7,200	SH		DFND		0	7,200	0
COPART INC	COM	217204106	1,669	46,400	SH		DFND		0	46,400	0
CORE LABORATORIES N V	COM	N22717107	3,792	22,700	SH		DFND		0	22,700	0
COSTCO WHSL CORP NEW	COM	22160K105	10,249	89,000	SH		DFND		0	89,000	0
CROWN CASTLE INTL CORP	COM	228227104	661	8,900	SH		DFND		0	8,900	0
CROWN HOLDINGS INC	COM	228368106	6,822	137,100	SH		DFND		0	137,100	0
CVS CAREMARK CORPORATION	COM	126650100	7,793	103,400	SH		DFND		0	103,400	0
CYTEC INDS INC	COM	232820100	3,142	29,800	SH		DFND		0	29,800	0
DANAHER CORP DEL	COM	235851102	16,297	207,000	SH		DFND		0	207,000	0
DAVITA HEALTHCARE PARTNERS I	COM	23918K108	564	7,800	SH		DFND		0	7,800	0
DENTSPLY INTL INC NEW	COM	249030107	3,684	77,800	SH		DFND		0	77,800	0
DIAGEO P L C	SPON ADR NEW	25243Q205	713	5,600	SH		DFND		0	5,600	0
DIAMOND OFFSHORE DRILLING IN	COM	25271C102	1,191	24,000	SH		DFND		0	24,000	0
DICKS SPORTING GOODS INC	COM	253393102	5,177	111,200	SH		DFND		0	111,200	0
DIRECTV	COM	25490A309	6,138	72,200	SH		DFND		0	72,200	0
DISCOVER FINL SVCS	COM	254709108	3,161	51,000	SH		DFND		0	51,000	0
DISCOVERY COMMUNICATNS NEW	COM SER A	25470F104	3,714	50,000	SH		DFND		0	50,000	0
DISNEY WALT CO	COM DISNEY	254687106	5,179	60,400	SH		DFND		0	60,400	0
DOMINOS PIZZA INC	COM	25754A201	7,506	102,700	SH		DFND		0	102,700	0
DONALDSON INC	COM	257651109	7,575	179,000	SH		DFND		0	179,000	0
DR PEPPER SNAPPLE GROUP INC	COM	26138E109	2,074	35,400	SH		DFND		0	35,400	0
DRIL-QUIP INC	COM	262037104	2,469	22,600	SH		DFND		0	22,600	0
DSW INC	CL A	23334L102	1,201	43,000	SH		DFND		0	43,000	0
DU PONT E I DE NEMOURS & CO	COM	263534109	3,992	61,000	SH		DFND		0	61,000	0
DUKE ENERGY CORP NEW	COM NEW	26441C204	2,102	28,333	SH		DFND		0	28,333	0
DUN & BRADSTREET CORP DEL NE	COM	26483E100	2,931	26,600	SH		DFND		0	26,600	0
E M C CORP MASS	COM	268648102	4,964	188,442	SH		DFND		0	188,442	0
EATON VANCE CORP	COM NON VTG	278265103	529	14,000	SH		DFND		0	14,000	0
EBAY INC	COM	278642103	5,472	109,300	SH		DFND		0	109,300	0
ECOLAB INC	COM	278865100	15,966	143,400	SH		DFND		0	143,400	0
EDWARDS LIFESCIENCES CORP	COM	28176E108	3,777	44,000	SH		DFND		0	44,000	0
EL PASO ELEC CO	COM NEW	283677854	1,641	40,800	SH		DFND		0	40,800	0
ENBRIDGE INC	COM	29250N105	3,214	67,700	SH		DFND		0	67,700	0
ENERGEN CORP	COM	29265N108	711	8,000	SH		DFND		0	8,000	0
ENERGIZER HLDGS INC	COM	29266R108	8,078	66,200	SH		DFND		0	66,200	0
ENERSYS	COM	29275Y102	8,186	119,000	SH		DFND		0	119,000	0
ENERSYS	NOTE 3.375% 6/0	29275YAA0	345	200,000	PRN		DFND		0	200,000	0
ENPRO INDS INC	COM	29355X107	3,351	45,800	SH		DFND		0	45,800	0
ENSCO PLC	SHS CLASS A	G3157S106	2,526	45,455	SH		DFND		0	45,455	0
ENSTAR GROUP LIMITED	SHS	G3075P101	543	3,600	SH		DFND		0	3,600	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	1,644	21,000	SH		DFND		0	21,000	0
EOG RES INC	COM	26875P101	3,506	30,000	SH		DFND		0	30,000	0
EQT CORP	COM	26884L109	11,852	110,873	SH		DFND		0	110,873	0
EQUIFAX INC	COM	294429105	2,923	40,300	SH		DFND		0	40,300	0
EQUINIX INC	NOTE 4.750% 6/1	29444UAH9	766	300,000	PRN		DFND		0	300,000	0
EQUITY LIFESTYLE PPTYS INC	COM	29472R108	3,091	70,000	SH		DFND		0	70,000	0
EQUITY ONE	COM	294752100	795	33,700	SH		DFND		0	33,700	0
ESSEX PPTY TR INC	COM	297178105	2,672	14,450	SH		DFND		0	14,450	0
ESTERLINE TECHNOLOGIES CORP	COM	297425100	11,938	103,700	SH		DFND		0	103,700	0
EVEREST RE GROUP LTD	COM	G3223R108	225	1,400	SH		DFND		0	1,400	0
EXPRESS SCRIPTS HLDG CO	COM	30219G108	11,611	167,480	SH		DFND		0	167,480	0
EXXON MOBIL CORP	COM	30231G102	5,940	59,000	SH		DFND		0	59,000	0
F M C CORP	COM NEW	302491303	11,106	156,000	SH		DFND		0	156,000	0
FACEBOOK INC	CL A	30303M102	5,383	80,000	SH		DFND		0	80,000	0
FASTENAL CO	COM	311900104	2,920	59,000	SH		DFND		0	59,000	0
FEDEX CORP	COM	31428X106	8,296	54,800	SH		DFND		0	54,800	0
FIDELITY NATIONAL FINANCIAL	NOTE 4.250% 8/1	31620RAE5	492	300,000	PRN		DFND		0	300,000	0
FIDELITY NATL INFORMATION SV	COM	31620M106	1,013	18,500	SH		DFND		0	18,500	0
FIRST CASH FINL SVCS INC	COM	31942D107	1,255	21,800	SH		DFND		0	21,800	0
FIRST FINL BANKSHARES	COM	32020R109	2,000	63,748	SH		DFND		0	63,748	0
FISERV INC	COM	337738108	3,474	57,600	SH		DFND		0	57,600	0
FLOWERS FOODS INC	COM	343498101	13,218	627,037	SH		DFND		0	627,037	0
FLOWSERVE CORP	COM	34354P105	1,546	20,800	SH		DFND		0	20,800	0
FMC TECHNOLOGIES INC	COM	30249U101	7,817	128,000	SH		DFND		0	128,000	0
FOMENTO ECONOMICO MEXICANO S	SPON ADR UNITS	344419106	2,379	25,400	SH		DFND		0	25,400	0
FRANKLIN ELEC INC	COM	353514102	1,218	30,200	SH		DFND		0	30,200	0
FRANKLIN RES INC	COM	354613101	2,314	40,000	SH		DFND		0	40,000	0
GAMING & LEISURE PPTYS INC	COM	36467J108	516	15,177	SH		DFND		0	15,177	0
GENERAL DYNAMICS CORP	COM	369550108	13,007	111,600	SH		DFND		0	111,600	0
GENERAL MLS INC	COM	370334104	8,774	167,000	SH		DFND		0	167,000	0
GENESEE & WYO INC	CL A	371559105	5,386	51,300	SH		DFND		0	51,300	0
GENUINE PARTS CO	COM	372460105	3,336	38,000	SH		DFND		0	38,000	0
GILDAN ACTIVEWEAR INC	COM	375916103	1,443	24,500	SH		DFND		0	24,500	0
GILEAD SCIENCES INC	COM	375558103	5,472	66,000	SH		DFND		0	66,000	0
GILEAD SCIENCES INC	NOTE 1.625% 5/0	375558AP8	364	100,000	PRN		DFND		0	100,000	0
GLOBAL PMTS INC	COM	37940X102	3,074	42,200	SH		DFND		0	42,200	0
GOODRICH PETE CORP	NOTE 5.000%10/0	382410AC2	257	250,000	PRN		DFND		0	250,000	0
GOOGLE INC	CL A	38259P508	7,659	13,100	SH		DFND		0	13,100	0
GOOGLE INC	CL C	38259P706	4,372	7,600	SH		DFND		0	7,600	0
GRACO INC	COM	384109104	4,997	64,000	SH		DFND		0	64,000	0
GRAINGER W W INC	COM	384802104	10,450	41,100	SH		DFND		0	41,100	0
GREIF INC	CL A	397624107	415	7,600	SH		DFND		0	7,600	0
GRUPO AEROPORTUARIO DEL SURE	SPON ADR SER B	40051E202	724	5,700	SH		DFND		0	5,700	0
HARLEY DAVIDSON INC	COM	412822108	4,191	60,000	SH		DFND		0	60,000	0
HARMAN INTL INDS INC	COM	413086109	3,760	35,000	SH		DFND		0	35,000	0
HARRIS CORP DEL	COM	413875105	2,272	30,000	SH		DFND		0	30,000	0
HARTFORD FINL SVCS GROUP INC	COM	416515104	1,925	53,760	SH		DFND		0	53,760	0
HDFC BANK LTD	ADR REPS 3 SHS	40415F101	3,535	75,500	SH		DFND		0	75,500	0
HEALTH CARE REIT INC	COM	42217K106	1,592	25,400	SH		DFND		0	25,400	0
HEALTHCARE SVCS GRP INC	COM	421906108	1,225	41,600	SH		DFND		0	41,600	0
HEARTLAND PMT SYS INC	COM	42235N108	610	14,800	SH		DFND		0	14,800	0
HEICO CORP NEW	COM	422806109	9,862	189,867	SH		DFND		0	189,867	0
HESS CORP	COM	42809H107	1,592	16,100	SH		DFND		0	16,100	0
HOME DEPOT INC	COM	437076102	1,101	13,600	SH		DFND		0	13,600	0
HORMEL FOODS CORP	COM	440452100	9,465	191,800	SH		DFND		0	191,800	0
HORNBECK OFFSHORE SVCS INC N	COM	440543106	1,276	27,200	SH		DFND		0	27,200	0
HUNT J B TRANS SVCS INC	COM	445658107	4,678	63,400	SH		DFND		0	63,400	0
HUNTINGTON BANCSHARES INC	PFD CONV SER A	446150401	333	250	SH		DFND		0	250	0
IDEX CORP	COM	45167R104	17,234	213,450	SH		DFND		0	213,450	0
IDEXX LABS INC	COM	45168D104	11,394	85,300	SH		DFND		0	85,300	0
IHS INC	CL A	451734107	8,276	61,000	SH		DFND		0	61,000	0
INGREDION INC	COM	457187102	4,885	65,100	SH		DFND		0	65,100	0
INSULET CORP	NOTE 3.750% 6/1	45784PAC5	455	300,000	PRN		DFND		0	300,000	0
INTEL CORP	COM	458140100	3,986	129,000	SH		DFND		0	129,000	0
INTEL CORP	SDCV 3.250% 8/0	458140AF7	231	150,000	PRN		DFND		0	150,000	0
INTERNATIONAL BUSINESS MACHS	COM	459200101	2,719	15,000	SH		DFND		0	15,000	0
INTUIT	COM	461202103	2,730	33,900	SH		DFND		0	33,900	0
ITC HLDGS CORP	COM	465685105	12,071	330,900	SH		DFND		0	330,900	0
ITT CORP NEW	COM NEW	450911201	7,766	161,450	SH		DFND		0	161,450	0
J & J SNACK FOODS CORP	COM	466032109	4,179	44,400	SH		DFND		0	44,400	0
J2 GLOBAL INC	COM	48123V102	2,477	48,700	SH		DFND		0	48,700	0
JOHNSON & JOHNSON	COM	478160104	4,300	41,100	SH		DFND		0	41,100	0
JOHNSON CTLS INC	COM	478366107	1,648	33,000	SH		DFND		0	33,000	0
JPMORGAN CHASE & CO	COM	46625H100	6,546	113,600	SH		DFND		0	113,600	0
KANSAS CITY SOUTHERN	COM NEW	485170302	7,816	72,700	SH		DFND		0	72,700	0
KAPSTONE PAPER & PACKAGING C	COM	48562P103	1,736	52,400	SH		DFND		0	52,400	0
KIRBY CORP	COM	497266106	18,906	161,400	SH		DFND		0	161,400	0
KROGER CO	COM	501044101	2,121	42,900	SH		DFND		0	42,900	0
L-3 COMMUNICATIONS HLDGS INC	COM	502424104	3,429	28,400	SH		DFND		0	28,400	0
LAM RESEARCH CORP	NOTE 1.250% 5/1	512807AL2	273	200,000	PRN		DFND		0	200,000	0
LAS VEGAS SANDS CORP	COM	517834107	5,107	67,000	SH		DFND		0	67,000	0
LAUDER ESTEE COS INC	CL A	518439104	5,050	68,000	SH		DFND		0	68,000	0
LENNOX INTL INC	COM	526107107	8,115	90,600	SH		DFND		0	90,600	0
LINCOLN ELEC HLDGS INC	COM	533900106	9,504	136,000	SH		DFND		0	136,000	0
LKQ CORP	COM	501889208	11,215	420,200	SH		DFND		0	420,200	0
LOCKHEED MARTIN CORP	COM	539830109	1,720	10,700	SH		DFND		0	10,700	0
LOWES COS INC	COM	548661107	1,680	35,000	SH		DFND		0	35,000	0
LUXOTTICA GROUP S P A	SPONSORED ADR	55068R202	638	11,000	SH		DFND		0	11,000	0
M & T BK CORP	COM	55261F104	6,835	55,100	SH		DFND		0	55,100	0
MACQUARIE INFRASTR CO LLC	MEMBERSHIP INT	55608B105	1,010	16,200	SH		DFND		0	16,200	0
MACYS INC	COM	55616P104	1,857	32,000	SH		DFND		0	32,000	0
MASTERCARD INC	CL A	57636Q104	11,167	152,000	SH		DFND		0	152,000	0
MCCORMICK & CO INC	COM NON VTG	579780206	888	12,400	SH		DFND		0	12,400	0
MCDONALDS CORP	COM	580135101	2,851	28,300	SH		DFND		0	28,300	0
MCKESSON CORP	COM	58155Q103	12,718	68,300	SH		DFND		0	68,300	0
MDU RES GROUP INC	COM	552690109	941	26,800	SH		DFND		0	26,800	0
MEDIVATION INC	COM	58501N101	925	12,000	SH		DFND		0	12,000	0
MEDNAX INC	COM	58502B106	8,153	140,200	SH		DFND		0	140,200	0
MEDTRONIC INC	COM	585055106	1,777	28,000	SH		DFND		0	28,000	0
MERCK & CO INC NEW	COM	58933Y105	2,765	47,800	SH		DFND		0	47,800	0
METLIFE INC	COM	59156R108	556	10,000	SH		DFND		0	10,000	0
METLIFE INC	UNIT 99/99/9999	59156R116	511	16,000	SH		DFND		0	16,000	0
METTLER TOLEDO INTERNATIONAL	COM	592688105	11,596	45,800	SH		DFND		0	45,800	0
MGM RESORTS INTERNATIONAL	NOTE 4.250% 4/1	55303QAE0	294	200,000	PRN		DFND		0	200,000	0
MICROS SYS INC	COM	594901100	3,429	50,500	SH		DFND		0	50,500	0
MICROSOFT CORP	COM	594918104	3,536	84,800	SH		DFND		0	84,800	0
MIDDLEBY CORP	COM	596278101	11,564	139,800	SH		DFND		0	139,800	0
MONRO MUFFLER BRAKE INC	COM	610236101	1,106	20,800	SH		DFND		0	20,800	0
MONSANTO CO NEW	COM	61166W101	3,118	25,000	SH		DFND		0	25,000	0
MONSTER BEVERAGE CORP	COM	611740101	3,267	46,000	SH		DFND		0	46,000	0
MOVADO GROUP INC	COM	624580106	425	10,200	SH		DFND		0	10,200	0
MSC INDL DIRECT INC	CL A	553530106	1,492	15,600	SH		DFND		0	15,600	0
MWI VETERINARY SUPPLY INC	COM	55402X105	3,365	23,700	SH		DFND		0	23,700	0
NAVISTAR INTL CORP NEW	NOTE 3.000%10/1	63934EAL2	303	300,000	PRN		DFND		0	300,000	0
NEW JERSEY RES	COM	646025106	1,578	27,600	SH		DFND		0	27,600	0
NEWMARKET CORP	COM	651587107	12,469	31,800	SH		DFND		0	31,800	0
NEXTERA ENERGY INC	COM	65339F101	1,742	17,000	SH		DFND		0	17,000	0
NIKE INC	CL B	654106103	3,102	40,000	SH		DFND		0	40,000	0
NOBLE ENERGY INC	COM	655044105	11,061	142,800	SH		DFND		0	142,800	0
NORDSON CORP	COM	655663102	3,079	38,400	SH		DFND		0	38,400	0
NORTHROP GRUMMAN CORP	COM	666807102	1,148	9,600	SH		DFND		0	9,600	0
NORTHWEST NAT GAS CO	COM	667655104	1,075	22,800	SH		DFND		0	22,800	0
NORTHWESTERN CORP	COM NEW	668074305	355	6,800	SH		DFND		0	6,800	0
NOVO-NORDISK A S	ADR	670100205	14,919	323,000	SH		DFND		0	323,000	0
O REILLY AUTOMOTIVE INC NEW	COM	67103H107	10,843	72,000	SH		DFND		0	72,000	0
OCEANEERING INTL INC	COM	675232102	2,344	30,000	SH		DFND		0	30,000	0
OCI PARTNERS LP	COM UNIT REP LP	67091N108	735	34,600	SH		DFND		0	34,600	0
OIL STS INTL INC	COM	678026105	320	5,000	SH		DFND		0	5,000	0
ONEOK INC NEW	COM	682680103	5,242	77,000	SH		DFND		0	77,000	0
OPEN TEXT CORP	COM	683715106	2,224	46,400	SH		DFND		0	46,400	0
ORACLE CORP	COM	68389X105	4,033	99,500	SH		DFND		0	99,500	0
OSHKOSH CORP	COM	688239201	5,014	90,300	SH		DFND		0	90,300	0
OWENS & MINOR INC NEW	COM	690732102	639	18,800	SH		DFND		0	18,800	0
PACKAGING CORP AMER	COM	695156109	5,376	75,200	SH		DFND		0	75,200	0
PARKER HANNIFIN CORP	COM	701094104	12,095	96,200	SH		DFND		0	96,200	0
PARTNERRE LTD	COM	G6852T105	2,687	24,600	SH		DFND		0	24,600	0
PEABODY ENERGY CORP	SDCV 4.750%12/1	704549AG9	600	800,000	PRN		DFND		0	800,000	0
PENN NATL GAMING INC	COM	707569109	453	37,300	SH		DFND		0	37,300	0
PEOPLES UNITED FINANCIAL INC	COM	712704105	1,729	114,000	SH		DFND		0	114,000	0
PEPSICO INC	COM	713448108	13,785	154,300	SH		DFND		0	154,300	0
PERRIGO CO PLC	SHS	G97822103	2,041	14,000	SH		DFND		0	14,000	0
PFIZER INC	COM	717081103	2,772	93,388	SH		DFND		0	93,388	0
PIEDMONT NAT GAS INC	COM	720186105	2,185	58,400	SH		DFND		0	58,400	0
PIONEER NAT RES CO	COM	723787107	1,918	8,346	SH		DFND		0	8,346	0
POOL CORPORATION	COM	73278L105	2,144	37,900	SH		DFND		0	37,900	0
PORTFOLIO RECOVERY ASSOCS IN	COM	73640Q105	5,268	88,500	SH		DFND		0	88,500	0
PRAXAIR INC	COM	74005P104	14,041	105,700	SH		DFND		0	105,700	0
PRECISION CASTPARTS CORP	COM	740189105	15,220	60,300	SH		DFND		0	60,300	0
PRICE T ROWE GROUP INC	COM	74144T108	4,052	48,000	SH		DFND		0	48,000	0
PRICELINE GRP INC	COM NEW	741503403	3,128	2,600	SH		DFND		0	2,600	0
PRINCIPAL FINL GROUP INC	COM	74251V102	757	15,000	SH		DFND		0	15,000	0
PROASSURANCE CORP	COM	74267C106	6,198	139,600	SH		DFND		0	139,600	0
PROCTER & GAMBLE CO	COM	742718109	8,252	105,000	SH		DFND		0	105,000	0
PROSPERITY BANCSHARES INC	COM	743606105	3,355	53,600	SH		DFND		0	53,600	0
PRUDENTIAL FINL INC	COM	744320102	6,232	70,200	SH		DFND		0	70,200	0
PTC INC	COM	69370C100	621	16,000	SH		DFND		0	16,000	0
QUALCOMM INC	COM	747525103	6,677	84,300	SH		DFND		0	84,300	0
QUESTAR CORP	COM	748356102	5,290	213,300	SH		DFND		0	213,300	0
RAYTHEON CO	COM NEW	755111507	3,589	38,900	SH		DFND		0	38,900	0
RBC BEARINGS INC	COM	75524B104	929	14,500	SH		DFND		0	14,500	0
RENAISSANCERE HOLDINGS LTD	COM	G7496G103	428	4,000	SH		DFND		0	4,000	0
REPUBLIC SVCS INC	COM	760759100	9,394	247,400	SH		DFND		0	247,400	0
RESMED INC	COM	761152107	658	13,000	SH		DFND		0	13,000	0
REYNOLDS AMERICAN INC	COM	761713106	5,492	91,000	SH		DFND		0	91,000	0
RLI CORP	COM	749607107	5,091	111,200	SH		DFND		0	111,200	0
ROCKWELL AUTOMATION INC	COM	773903109	2,666	21,300	SH		DFND		0	21,300	0
ROCKWOOD HLDGS INC	COM	774415103	3,799	50,000	SH		DFND		0	50,000	0
ROLLINS INC	COM	775711104	10,836	361,200	SH		DFND		0	361,200	0
ROPER INDS INC NEW	COM	776696106	17,317	118,600	SH		DFND		0	118,600	0
ROYAL BK CDA MONTREAL QUE	COM	780087102	5,743	80,400	SH		DFND		0	80,400	0
ROYAL DUTCH SHELL PLC	SPON ADR B	780259107	2,227	25,600	SH		DFND		0	25,600	0
RUSH ENTERPRISES INC	CL A	781846209	2,486	71,700	SH		DFND		0	71,700	0
RYANAIR HLDGS PLC	SPONSORED ADR	783513104	279	5,000	SH		DFND		0	5,000	0
SALESFORCE COM INC	COM	79466L302	15,159	261,000	SH		DFND		0	261,000	0
SALIX PHARMACEUTICALS INC	NOTE 2.750% 5/1	795435AC0	329	123,000	PRN		DFND		0	123,000	0
SANDISK CORP	NOTE 1.500% 8/1	80004CAD3	305	150,000	PRN		DFND		0	150,000	0
SANOFI	SPONSORED ADR	80105N105	1,765	33,200	SH		DFND		0	33,200	0
SAP AG	SPON ADR	803054204	4,612	59,900	SH		DFND		0	59,900	0
SBA COMMUNICATIONS CORP	COM	78388J106	13,115	128,200	SH		DFND		0	128,200	0
SCHEIN HENRY INC	COM	806407102	13,611	114,700	SH		DFND		0	114,700	0
SCHLUMBERGER LTD	COM	806857108	6,983	59,200	SH		DFND		0	59,200	0
SCHWAB CHARLES CORP NEW	COM	808513105	3,232	120,000	SH		DFND		0	120,000	0
SCOTTS MIRACLE GRO CO	CL A	810186106	5,857	103,000	SH		DFND		0	103,000	0
SEMPRA ENERGY	COM	816851109	1,989	19,000	SH		DFND		0	19,000	0
SIGMA ALDRICH CORP	COM	826552101	13,771	135,700	SH		DFND		0	135,700	0
SIGNATURE BK NEW YORK N Y	COM	82669G104	1,274	10,100	SH		DFND		0	10,100	0
SIGNET JEWELERS LIMITED	SHS	G81276100	1,570	14,200	SH		DFND		0	14,200	0
SILGAN HOLDINGS INC	COM	827048109	8,939	175,900	SH		DFND		0	175,900	0
SNAP ON INC	COM	833034101	1,067	9,000	SH		DFND		0	9,000	0
SOUTH JERSEY INDS INC	COM	838518108	6,947	115,000	SH		DFND		0	115,000	0
SOUTHWEST GAS CORP	COM	844895102	2,354	44,600	SH		DFND		0	44,600	0
SPECTRUM BRANDS HLDGS INC	COM	84763R101	344	4,000	SH		DFND		0	4,000	0
STARBUCKS CORP	COM	855244109	14,261	184,300	SH		DFND		0	184,300	0
STATE STR CORP	COM	857477103	2,226	33,100	SH		DFND		0	33,100	0
STERICYCLE INC	COM	858912108	14,400	121,600	SH		DFND		0	121,600	0
STERIS CORP	COM	859152100	695	13,000	SH		DFND		0	13,000	0
STIFEL FINL CORP	COM	860630102	7,585	160,200	SH		DFND		0	160,200	0
SYNGENTA AG	SPONSORED ADR	87160A100	957	12,800	SH		DFND		0	12,800	0
SYNNEX CORP	COM	87162W100	1,093	15,000	SH		DFND		0	15,000	0
SYNTEL INC	COM	87162H103	430	5,000	SH		DFND		0	5,000	0
TANGER FACTORY OUTLET CTRS I	COM	875465106	210	6,000	SH		DFND		0	6,000	0
TAUBMAN CTRS INC	COM	876664103	606	8,000	SH		DFND		0	8,000	0
TE CONNECTIVITY LTD	REG SHS	H84989104	1,200	19,400	SH		DFND		0	19,400	0
TELEDYNE TECHNOLOGIES INC	COM	879360105	10,349	106,500	SH		DFND		0	106,500	0
TEVA PHARMACEUTICAL INDS LTD	ADR	881624209	4,363	83,237	SH		DFND		0	83,237	0
THE ADT CORPORATION	COM	00101J106	1,716	49,100	SH		DFND		0	49,100	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	14,809	125,500	SH		DFND		0	125,500	0
TIME WARNER CABLE INC	COM	88732j207	1,871	12,700	SH		DFND		0	12,700	0
TJX COS INC NEW	COM	872540109	17,805	335,000	SH		DFND		0	335,000	0
TORO CO	COM	891092108	14,704	231,200	SH		DFND		0	231,200	0
TORONTO DOMINION BK ONT	COM NEW	891160509	1,921	37,368	SH		DFND		0	37,368	0
TOTAL S A	SPONSORED ADR	89151E109	2,130	29,500	SH		DFND		0	29,500	0
TOWER GROUP INC	NOTE 5.000% 9/1	891777AC8	172	200,000	PRN		DFND		0	200,000	0
TOWERS WATSON & CO	CL A	891894107	928	8,900	SH		DFND		0	8,900	0
TRANSCANADA CORP	COM	89353D107	4,791	100,400	SH		DFND		0	100,400	0
TRANSOCEAN LTD	REG SHS	H8817H100	1,081	24,000	SH		DFND		0	24,000	0
TRIMBLE NAVIGATION LTD	COM	896239100	2,247	60,800	SH		DFND		0	60,800	0
TYCO INTERNATIONAL LTD	SHS	H89128104	2,978	65,300	SH		DFND		0	65,300	0
TYLER TECHNOLOGIES INC	COM	902252105	2,121	23,258	SH		DFND		0	23,258	0
ULTIMATE SOFTWARE GROUP INC	COM	90385D107	7,116	51,500	SH		DFND		0	51,500	0
ULTRAPAR PARTICIPACOES S A	SP ADR REP COM	90400P101	722	30,600	SH		DFND		0	30,600	0
UNION PAC CORP	COM	907818108	16,259	163,000	SH		DFND		0	163,000	0
UNITED TECHNOLOGIES CORP	COM	913017109	17,722	153,500	SH		DFND		0	153,500	0
UNITEDHEALTH GROUP INC	COM	91324P102	5,068	62,000	SH		DFND		0	62,000	0
UNIVERSAL HLTH SVCS INC	CL B	913903100	766	8,000	SH		DFND		0	8,000	0
URBAN OUTFITTERS INC	COM	917047102	3,047	90,000	SH		DFND		0	90,000	0
US BANCORP DEL	COM NEW	902973304	3,084	71,200	SH		DFND		0	71,200	0
V F CORP	COM	918204108	4,234	67,200	SH		DFND		0	67,200	0
VALMONT INDS INC	COM	920253101	9,360	61,600	SH		DFND		0	61,600	0
VALSPAR CORP	COM	920355104	8,716	114,400	SH		DFND		0	114,400	0
VCA INC	COM	918194101	2,042	58,200	SH		DFND		0	58,200	0
VERISK ANALYTICS INC	CL A	92345Y106	3,001	50,000	SH		DFND		0	50,000	0
VERIZON COMMUNICATIONS INC	COM	92343V104	1,766	36,100	SH		DFND		0	36,100	0
VISA INC	COM CL A	92826C839	7,164	34,000	SH		DFND		0	34,000	0
VMWARE INC	CL A COM	928563402	2,711	28,000	SH		DFND		0	28,000	0
WABTEC CORP	COM	929740108	12,182	147,500	SH		DFND		0	147,500	0
WALGREEN CO	COM	931422109	2,891	39,000	SH		DFND		0	39,000	0
WAL-MART STORES INC	COM	931142103	2,049	27,300	SH		DFND		0	27,300	0
WASTE CONNECTIONS INC	COM	941053100	17,879	368,250	SH		DFND		0	368,250	0
WELLPOINT INC	COM	94973V107	753	7,000	SH		DFND		0	7,000	0
WELLS FARGO & CO NEW	COM	949746101	6,160	117,200	SH		DFND		0	117,200	0
WELLS FARGO & CO NEW	PERP PFD CNV A	949746804	303	250	SH		DFND		0	250	0
WEX INC	COM	96208T104	10,088	96,100	SH		DFND		0	96,100	0
WHOLE FOODS MKT INC	COM	966837106	1,777	46,000	SH		DFND		0	46,000	0
WILEY JOHN & SONS INC	CL A	968223206	673	11,100	SH		DFND		0	11,100	0
WISCONSIN ENERGY CORP	COM	976657106	5,734	122,200	SH		DFND		0	122,200	0
WOLVERINE WORLD WIDE INC	COM	978097103	8,248	316,500	SH		DFND		0	316,500	0
WOODWARD INC	COM	980745103	1,234	24,600	SH		DFND		0	24,600	0
XCEL ENERGY INC	COM	98389B100	1,260	39,100	SH		DFND		0	39,100	0
XILINX INC	NOTE 2.625% 6/1	983919AF8	331	200,000	PRN		DFND		0	200,000	0
YUM BRANDS INC	COM	988498101	15,103	186,000	SH		DFND		0	186,000	0