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
8x8 Inc COM 282914100 337 24,945 SH   DFND 1 24,945 0 0
Abbott Labs COM 002824100 659 12,355 SH   DFND 1 12,355 0 0
Abbvie Inc COM 00287y109 1,120 12,601 SH   DFND 1 12,601 0 0
Accenture PLC CL A COM g1151c101 628 4,650 SH   DFND 1 4,650 0 0
Activision Blizzard Inc COM 00507v109 1,252 19,409 SH   DFND 1 19,409 0 0
Adobe Systems COM 00724f101 1,091 7,312 SH   DFND 1 7,312 0 0
Agrium Inc COM 008916108 707 6,590 SH   DFND 1 6,590 0 0
Air Products & Chemicals, Inc. COM 009158106 333 2,200 SH   DFND 1 2,200 0 0
Alcentra Capital Corp COM 01374t102 305 28,450 SH   DFND 1 28,450 0 0
Alibaba Group Holdings COM 01609w102 1,830 10,595 SH   DFND 1 10,595 0 0
Allergan PLC COM g0177j108 482 2,354 SH   DFND 1 2,354 0 0
Allstate Corp COM 020002101 436 4,745 SH   DFND 1 4,745 0 0
Alphabet Inc Class A COM 02079k305 1,686 1,732 SH   DFND 1 1,732 0 0
Alphabet Inc Class C COM 02079k107 1,684 1,756 SH   DFND 1 1,756 0 0
Altria Group, Inc. COM 02209s103 2,240 35,325 SH   DFND 1 35,325 0 0
Amazon.com, Inc. COM 023135106 1,883 1,959 SH   DFND 1 1,959 0 0
Amdocs Ltd COM G02602103 230 3,575 SH   DFND 1 3,575 0 0
American Campus Communities COM 024835100 260 5,885 SH   DFND 1 5,885 0 0
American Electric Power COM 025537101 732 10,420 SH   DFND 1 10,420 0 0
American Express COM 025816109 966 10,683 SH   DFND 1 10,683 0 0
Anadarko Petroleum Corp. COM 032511107 433 8,866 SH   DFND 1 8,866 0 0
Andeavor COM 03349M105 844 8,179 SH   DFND 1 8,179 0 0
Anthem Inc COM 036752103 891 4,692 SH   DFND 1 4,692 0 0
Apache Corp COM 037411105 266 5,811 SH   DFND 1 5,811 0 0
Apollo Global Management LLC COM 037612306 709 23,540 SH   DFND 1 23,540 0 0
Apple Inc COM 037833100 5,628 36,518 SH   DFND 1 36,518 0 0
Ares Capital Corp COM 04010L103 455 27,775 SH   DFND 1 27,775 0 0
Arthur J. Gallagher & Co. COM 363576109 852 13,845 SH   DFND 1 13,845 0 0
AT&T Inc. COM 00206R102 2,773 70,795 SH   DFND 1 70,795 0 0
Atmos Energy Corp. COM 049560105 964 11,500 SH   DFND 1 11,500 0 0
Bank of New York Mellon Corp. COM 064058100 856 16,139 SH   DFND 1 16,139 0 0
BB&T Corporation COM 054937107 454 9,671 SH   DFND 1 9,671 0 0
Biomarin Pharmaceutical Inc COM 09061g101 312 3,350 SH   DFND 1 3,350 0 0
Blackstone Group LP COM 09253u108 434 13,000 SH   DFND 1 13,000 0 0
Bloomin Brands Inc COM 094235108 309 17,530 SH   DFND 1 17,530 0 0
Boeing Company COM 097023105 3,166 12,453 SH   DFND 1 12,453 0 0
Boston Properties Inc COM 101121101 553 4,500 SH   DFND 1 4,500 0 0
BP plc ADR COM 055622104 273 7,114 SH   DFND 1 7,114 0 0
Broadcom Ltd COM y09827109 764 3,149 SH   DFND 1 3,149 0 0
Canadian Solar Inc COM 136635109 213 12,660 SH   DFND 1 12,660 0 0
Capital One Financial COM 14040H105 559 6,606 SH   DFND 1 6,606 0 0
Caterpillar Inc. COM 149123101 544 4,360 SH   DFND 1 4,360 0 0
CBS Corp COM 124857202 717 12,370 SH   DFND 1 12,370 0 0
Celgene Corp. COM 151020104 2,057 14,105 SH   DFND 1 14,105 0 0
CenturyLink Inc. COM 156700106 324 17,125 SH   DFND 1 17,125 0 0
Charles Schwab Corp. COM 808513105 1,246 28,490 SH   DFND 1 28,490 0 0
Chart Industries Inc COM 16115q308 209 5,340 SH   DFND 1 5,340 0 0
Chevron Corp. COM 166764100 1,894 16,116 SH   DFND 1 16,116 0 0
Church & Dwight Co. COM 171340102 806 16,645 SH   DFND 1 16,645 0 0
Cinemark Holdings Inc. COM 17243v102 583 16,100 SH   DFND 1 16,100 0 0
Cisco Systems COM 17275R102 1,519 45,171 SH   DFND 1 45,171 0 0
Citigroup Inc. COM 172967424 1,113 15,300 SH   DFND 1 15,300 0 0
CMS Energy Corp. COM 125896100 952 20,553 SH   DFND 1 20,553 0 0
Coca-Cola COM 191216100 1,451 32,246 SH   DFND 1 32,246 0 0
Cogent Communications Holding COM 19239v302 852 17,415 SH   DFND 1 17,415 0 0
Cognizant Tech Solutions Corp. COM 192446102 465 6,410 SH   DFND 1 6,410 0 0
Columbia Sportswear Co COM 198516106 436 7,076 SH   DFND 1 7,076 0 0
Comerica, Inc. COM 200340107 381 5,000 SH   DFND 1 5,000 0 0
Conagra Brands Inc COM 205887102 452 13,400 SH   DFND 1 13,400 0 0
Constellation Brands COM 21036p108 1,030 5,165 SH   DFND 1 5,165 0 0
Corning Inc. COM 219350105 348 11,618 SH   DFND 1 11,618 0 0
Costco Co. COM 22160k105 503 3,060 SH   DFND 1 3,060 0 0
Covanta Holding Corp COM 22282e102 453 30,525 SH   DFND 1 30,525 0 0
Cracker Barrel Old Country Sto COM 22410j106 379 2,500 SH   DFND 1 2,500 0 0
Crown Castle International Cor COM 22822V101 609 6,090 SH   DFND 1 6,090 0 0
Cummins Inc COM 231021106 640 3,810 SH   DFND 1 3,810 0 0
CVS Health Corp COM 126650100 928 11,414 SH   DFND 1 11,414 0 0
Danaher Corp. COM 235851102 760 8,860 SH   DFND 1 8,860 0 0
Darden Restaurants Inc. COM 237194105 969 12,295 SH   DFND 1 12,295 0 0
Davita Inc COM 23918K108 328 5,525 SH   DFND 1 5,525 0 0
DCP Midstream LP COM 23311p100 430 12,400 SH   DFND 1 12,400 0 0
Digital Realty COM 253868103 911 7,700 SH   DFND 1 7,700 0 0
Dollar General COM 256677105 464 5,721 SH   DFND 1 5,721 0 0
Dominion Diamond Corp COM 257287102 435 30,675 SH   DFND 1 30,675 0 0
Dominion Energy Inc COM 25746u109 716 9,308 SH   DFND 1 9,308 0 0
DowDuPont Inc COM 26078j100 1,003 14,494 SH   DFND 1 14,494 0 0
Duke Energy Corp. COM 26441C204 1,205 14,363 SH   DFND 1 14,363 0 0
Duke Realty Corp. COM 264411505 297 10,300 SH   DFND 1 10,300 0 0
Eagle Materials Inc COM 26969P108 504 4,725 SH   DFND 1 4,725 0 0
Edison Int'l COM 281020107 832 10,775 SH   DFND 1 10,775 0 0
Enable Midstream Partners LP COM 292480100 160 10,000 SH   DFND 1 10,000 0 0
Enbridge Energy Partners LP COM 29250r106 191 11,925 SH   DFND 1 11,925 0 0
Enbridge Inc COM 29250n105 803 19,187 SH   DFND 1 19,187 0 0
Enterprise Products Partners L COM 293792107 628 24,106 SH   DFND 1 24,106 0 0
EOG Resources COM 26875p101 737 7,615 SH   DFND 1 7,615 0 0
EPAM Systems Inc COM 29414b104 394 4,485 SH   DFND 1 4,485 0 0
EPR Properties COM 26884u109 286 4,095 SH   DFND 1 4,095 0 0
Equity Residential Properties COM 29476l107 699 10,600 SH   DFND 1 10,600 0 0
Essex Property Trust Inc COM 297178105 550 2,167 SH   DFND 1 2,167 0 0
Exact Sciences Corp COM 30063P105 693 14,700 SH   DFND 1 14,700 0 0
Expedia Inc COM 30212p303 565 3,925 SH   DFND 1 3,925 0 0
Express COM 30219e103 72 10,695 SH   DFND 1 10,695 0 0
Express Scripts Holding Compan COM 30219g108 475 7,495 SH   DFND 1 7,495 0 0
Exxon Mobil Corp. COM 30231g102 2,212 26,983 SH   DFND 1 26,983 0 0
Facebook Inc COM 30303M102 2,617 15,318 SH   DFND 1 15,318 0 0
Fedex Corp. COM 31428x106 760 3,370 SH   DFND 1 3,370 0 0
Fifth Street Finance Corp COM 31678a103 263 47,990 SH   DFND 1 47,990 0 0
Fifth Third Bancorp COM 316773100 516 18,448 SH   DFND 1 18,448 0 0
Flowserve Corp. COM 34354P105 349 8,192 SH   DFND 1 8,192 0 0
Ford Motor Co. COM 345370860 508 42,425 SH   DFND 1 42,425 0 0
Fortinet Inc COM 34959e109 473 13,200 SH   DFND 1 13,200 0 0
Fortive Corp COM 34959j108 227 3,213 SH   DFND 1 3,213 0 0
Freeport-McMoRan Inc COM 35671d857 179 12,780 SH   DFND 1 12,780 0 0
GameStop Corp. COM 36467w109 347 16,800 SH   DFND 1 16,800 0 0
Garmin Ltd COM H2906T109 264 4,900 SH   DFND 1 4,900 0 0
General Electric Co. COM 369604103 2,048 84,687 SH   DFND 1 84,687 0 0
General Mills Inc. COM 370334104 221 4,275 SH   DFND 1 4,275 0 0
General Motors Inc COM 37045v100 729 18,065 SH   DFND 1 18,065 0 0
Genuine Parts Co. COM 372460105 383 4,000 SH   DFND 1 4,000 0 0
Gilead Science Inc COM 375558103 835 10,301 SH   DFND 1 10,301 0 0
Goldman Sachs Group COM 38141g104 1,114 4,697 SH   DFND 1 4,697 0 0
Guidewire Software Inc COM 40171v100 409 5,250 SH   DFND 1 5,250 0 0
Halliburton Co. COM 406216101 537 11,667 SH   DFND 1 11,667 0 0
Hawaiian Electric Ind. COM 419870100 527 15,800 SH   DFND 1 15,800 0 0
HCP Inc COM 40414L109 361 12,975 SH   DFND 1 12,975 0 0
Hologic Inc COM 436440101 293 7,975 SH   DFND 1 7,975 0 0
Home Depot, Inc. COM 437076102 3,107 18,996 SH   DFND 1 18,996 0 0
Honeywell International, Inc. COM 438516106 1,951 13,766 SH   DFND 1 13,766 0 0
Host Hotels & Resorts Inc. COM 44107P104 767 41,492 SH   DFND 1 41,492 0 0
HP Inc COM 40434l105 778 38,975 SH   DFND 1 38,975 0 0
Icahn Enterprises LP COM 451100101 587 10,700 SH   DFND 1 10,700 0 0
Imperva Inc COM 45321L100 252 5,800 SH   DFND 1 5,800 0 0
Intel Corp. COM 458140100 1,737 45,611 SH   DFND 1 45,611 0 0
International Business Machine COM 459200101 963 6,636 SH   DFND 1 6,636 0 0
Invesco Ltd COM g491bt108 621 17,725 SH   DFND 1 17,725 0 0
Iron Mountain Inc. COM 46284V101 746 19,180 SH   DFND 1 19,180 0 0
JD.com Inc COM 47215p106 422 11,045 SH   DFND 1 11,045 0 0
Johnson & Johnson COM 478160104 2,924 22,490 SH   DFND 1 22,490 0 0
Johnson Controls Interanationa COM g51502105 300 7,450 SH   DFND 1 7,450 0 0
JPMorgan Chase & Co. COM 46625h100 3,268 34,216 SH   DFND 1 34,216 0 0
Kimco Realty Corp. COM 49446r109 332 17,000 SH   DFND 1 17,000 0 0
Kinder Morgan Inc. COM 49456b101 299 15,608 SH   DFND 1 15,608 0 0
KKR & Co LP COM 48248m102 705 34,700 SH   DFND 1 34,700 0 0
Kraft Heinz Co The COM 500754106 361 4,658 SH   DFND 1 4,658 0 0
Kroger Co COM 501044101 401 20,010 SH   DFND 1 20,010 0 0
L Brands Inc COM 501797104 244 5,864 SH   DFND 1 5,864 0 0
Lamar Advertising Co COM 512816109 363 5,300 SH   DFND 1 5,300 0 0
Las Vegas Sands COM 517834107 703 10,950 SH   DFND 1 10,950 0 0
Liberty Property Trust COM 531172104 397 9,675 SH   DFND 1 9,675 0 0
Lilly (Eli) & Co. COM 532457108 1,607 18,791 SH   DFND 1 18,791 0 0
Lowe's Co. COM 548661107 1,313 16,425 SH   DFND 1 16,425 0 0
Lyondellbassel Industries N.V. COM N53745100 545 5,505 SH   DFND 1 5,505 0 0
Macerich Co. COM 554382101 373 6,790 SH   DFND 1 6,790 0 0
Macquarie Infrastructure Co COM 55608B105 553 7,665 SH   DFND 1 7,665 0 0
Marriott International COM 571903202 655 5,945 SH   DFND 1 5,945 0 0
Marsh & McLennan Companies, In COM 571748102 1,252 14,935 SH   DFND 1 14,935 0 0
Mattel Inc. COM 577081102 284 18,330 SH   DFND 1 18,330 0 0
Maxim Integrated Products, Inc COM 57772k101 865 18,130 SH   DFND 1 18,130 0 0
McCormick & Co. COM 579780206 629 6,131 SH   DFND 1 6,131 0 0
McDonald's Corp. COM 580135101 1,836 11,718 SH   DFND 1 11,718 0 0
Mckesson HBOC Inc. COM 58155q103 241 1,570 SH   DFND 1 1,570 0 0
Medtronic Inc COM g5960l103 364 4,685 SH   DFND 1 4,685 0 0
Merck & Co., Inc. COM 58933y105 1,756 27,430 SH   DFND 1 27,430 0 0
Metlife Inc COM 59156R108 611 11,763 SH   DFND 1 11,763 0 0
Micron Technology Inc. COM 595112103 346 8,790 SH   DFND 1 8,790 0 0
Microsoft Corp COM 594918104 4,439 59,596 SH   DFND 1 59,596 0 0
Minerals Technologies Inc COM 603158106 396 5,610 SH   DFND 1 5,610 0 0
Mohawk Industries Inc. COM 608190104 428 1,730 SH   DFND 1 1,730 0 0
Molson Coors Brewing Company COM 60871r209 803 9,840 SH   DFND 1 9,840 0 0
Mondelez International Inc COM 609207105 678 16,673 SH   DFND 1 16,673 0 0
Monsanto Co. COM 61166w101 402 3,358 SH   DFND 1 3,358 0 0
Morgan Stanley, Dean Witter, D COM 617446448 1,490 30,938 SH   DFND 1 30,938 0 0
MRC Global Inc COM 55345k103 261 14,940 SH   DFND 1 14,940 0 0
National Fuel Gas Co. COM 636180101 781 13,800 SH   DFND 1 13,800 0 0
Netflix Inc COM 64110l106 530 2,925 SH   DFND 1 2,925 0 0
New York Community Bancorp COM 649445103 188 14,600 SH   DFND 1 14,600 0 0
NextEra Energy Inc COM 65339f101 956 6,520 SH   DFND 1 6,520 0 0
Nisource Inc. COM 65473P105 551 21,522 SH   DFND 1 21,522 0 0
Northrop Grumman Corp. COM 666807102 2,152 7,480 SH   DFND 1 7,480 0 0
Omega Healthcare Investors COM 681936100 434 13,600 SH   DFND 1 13,600 0 0
Oracle Corp. COM 68389x105 1,508 31,193 SH   DFND 1 31,193 0 0
Outfront Media Inc COM 69007j106 494 19,625 SH   DFND 1 19,625 0 0
Pacwest Bancorp COM 695263103 427 8,450 SH   DFND 1 8,450 0 0
Palo Alto Networks Inc COM 697435105 276 1,915 SH   DFND 1 1,915 0 0
Pattern Energy Group Inc COM 70338p100 509 21,130 SH   DFND 1 21,130 0 0
PepsiCo, Inc. COM 713448108 1,624 14,573 SH   DFND 1 14,573 0 0
Pfizer, Inc. COM 717081103 2,170 60,776 SH   DFND 1 60,776 0 0
Philip Morris International In COM 718172109 538 4,850 SH   DFND 1 4,850 0 0
Pinnacle West Capital COM 723484101 364 4,300 SH   DFND 1 4,300 0 0
PNC Financial Services Group COM 693475105 1,793 13,302 SH   DFND 1 13,302 0 0
PPG Industries, Inc. COM 693506107 1,722 15,850 SH   DFND 1 15,850 0 0
PPL Corp. COM 69351t106 527 13,890 SH   DFND 1 13,890 0 0
Principal Financial Group COM 74251V102 1,294 20,113 SH   DFND 1 20,113 0 0
Procter & Gamble, Inc. COM 742718109 1,755 19,290 SH   DFND 1 19,290 0 0
Prologis Trust COM 74340w103 828 13,055 SH   DFND 1 13,055 0 0
Prospect Capital Corp COM 74348t102 294 43,700 SH   DFND 1 43,700 0 0
Prudential Financial, Inc. COM 744320102 1,946 18,305 SH   DFND 1 18,305 0 0
PTC Inc COM 69370c100 428 7,608 SH   DFND 1 7,608 0 0
Public Service Enterprise Grou COM 744573106 472 10,200 SH   DFND 1 10,200 0 0
Qualcomm Inc. COM 747525103 855 16,493 SH   DFND 1 16,493 0 0
Quest Diagnostics Inc COM 74834L100 258 2,750 SH   DFND 1 2,750 0 0
Red Hat Inc. COM 756577102 558 5,035 SH   DFND 1 5,035 0 0
Regal Entertainment Group - A COM 758766109 354 22,125 SH   DFND 1 22,125 0 0
Regions Financial Corp. COM 7591EP100 215 14,137 SH   DFND 1 14,137 0 0
Rexnord Corp COM 76169b102 337 13,280 SH   DFND 1 13,280 0 0
RingCentral Inc COM 76680r206 508 12,175 SH   DFND 1 12,175 0 0
Rockwell Collins Inc. COM 774341101 717 5,485 SH   DFND 1 5,485 0 0
Royal Dutch Shell PLC ADR COM 780259206 354 5,850 SH   DFND 1 5,850 0 0
Sabra Health Care REIT Inc COM 78573l106 582 26,507 SH   DFND 1 26,507 0 0
Salesforce.com Inc COM 79466L302 703 7,520 SH   DFND 1 7,520 0 0
Schlumberger Ltd. COM 806857108 837 12,005 SH   DFND 1 12,005 0 0
Seagate Technology COM G7945M107 299 9,025 SH   DFND 1 9,025 0 0
Sealed Air Corp. COM 81211k100 286 6,688 SH   DFND 1 6,688 0 0
Seaspan Corp COM Y75638109 125 17,600 SH   DFND 1 17,600 0 0
Servicenow Inc COM 81762p102 472 4,019 SH   DFND 1 4,019 0 0
Ship Finance Intl Ltd COM g81075106 223 15,380 SH   DFND 1 15,380 0 0
Simon Property Group, Inc. COM 828806109 849 5,270 SH   DFND 1 5,270 0 0
Southern Co. COM 842587107 1,068 21,725 SH   DFND 1 21,725 0 0
Splunk Inc COM 848637104 455 6,845 SH   DFND 1 6,845 0 0
Starbucks Corp. COM 855244109 399 7,430 SH   DFND 1 7,430 0 0
T Mobile US Inc COM 872590104 457 7,405 SH   DFND 1 7,405 0 0
Target Corp. COM 87612e106 924 15,661 SH   DFND 1 15,661 0 0
Texas Instruments COM 882508104 2,201 24,558 SH   DFND 1 24,558 0 0
The Mosaic Co COM 61945c103 319 14,785 SH   DFND 1 14,785 0 0
The Travelers Companies, Inc. COM 89417E109 1,215 9,918 SH   DFND 1 9,918 0 0
Thermo Fisher Scientific Inc COM 883556102 1,247 6,591 SH   DFND 1 6,591 0 0
Total System Services COM 891906109 567 8,655 SH   DFND 1 8,655 0 0
Transcanada Corp COM 89353d107 593 11,991 SH   DFND 1 11,991 0 0
Tupperware Brands Corp COM 899896104 538 8,700 SH   DFND 1 8,700 0 0
Two Harbors Investment Corp COM 90187b408 371 36,850 SH   DFND 1 36,850 0 0
U.S. Bancorp COM 902973304 1,339 24,981 SH   DFND 1 24,981 0 0
UDR Inc COM 902653104 678 17,831 SH   DFND 1 17,831 0 0
Union Pacific COM 907818108 1,021 8,802 SH   DFND 1 8,802 0 0
United Health Group Inc. COM 91324P102 1,309 6,685 SH   DFND 1 6,685 0 0
United Parcel Services Cl B COM 911312106 1,135 9,450 SH   DFND 1 9,450 0 0
United Technologies COM 913017109 877 7,555 SH   DFND 1 7,555 0 0
Valero Energy Corp. COM 91913Y100 332 4,310 SH   DFND 1 4,310 0 0
Vector Group Ltd COM 92240m108 554 27,080 SH   DFND 1 27,080 0 0
Verizon Communications Inc COM 92343v104 1,537 31,050 SH   DFND 1 31,050 0 0
Visa Inc COM 92826c839 966 9,180 SH   DFND 1 9,180 0 0
Vulcan Materials COM 929160109 209 1,750 SH   DFND 1 1,750 0 0
Wal-Mart COM 931142103 1,145 14,658 SH   DFND 1 14,658 0 0
Walgreens Boots Alliance Inc COM 931427108 627 8,121 SH   DFND 1 8,121 0 0
Walt Disney Co. COM 254687106 1,647 16,710 SH   DFND 1 16,710 0 0
Weingarten Realty Investors COM 948741103 448 14,100 SH   DFND 1 14,100 0 0
Wells Fargo Co. COM 949746101 1,724 31,268 SH   DFND 1 31,268 0 0
Welltower Inc COM 95040q104 445 6,325 SH   DFND 1 6,325 0 0
Western Digital COM 958102105 655 7,585 SH   DFND 1 7,585 0 0
Western Gas Partners COM 958254104 520 10,150 SH   DFND 1 10,150 0 0
Weyerhaeuser Co. COM 962166104 528 15,520 SH   DFND 1 15,520 0 0
Williams Cos. COM 969457100 462 15,400 SH   DFND 1 15,400 0 0
Zoetis COM 98978v103 562 8,811 SH   DFND 1 8,811 0 0