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
3M CO COM 88579Y101 10,599 74,000 SH   DFND 1 74,000 0 0
ABBOTT LABORATORIES COM 002824100 6,950 170,000 SH   DFND 1 170,000 0 0
ABBVIE INC COM 00287Y109 13,818 245,000 SH   DFND 1 245,000 0 0
ACCENTURE PLC CL A COM G1151C101 11,717 145,000 SH   DFND 1 145,000 0 0
ACE LTD COM H0023R105 3,732 36,000 SH   DFND 1 36,000 0 0
ACTAVIS PLC COM G0083B108 10,654 48,000 SH   DFND 1 48,000 0 0
ACTIVISION BLIZZARD INC COM 00507V109 1,561 70,000 SH   DFND 1 70,000 0 0
ADOBE SYSTEMS INC COM 00724F101 3,979 55,000 SH   DFND 1 55,000 0 0
AETNA INC COM 00817Y108 3,324 41,000 SH   DFND 1 41,000 0 0
AIR PRODUCTS + CHEMICALS COM 009158106 2,829 22,000 SH   DFND 1 22,000 0 0
ALCOA INC COM 013817101 1,860 125,000 SH   DFND 1 125,000 0 0
ALLEGHENY TECHNOLOGIES COM 01741R102 5,187 115,000 SH   DFND 1 115,000 0 0
ALLERGAN INC COM 018490102 5,580 33,000 SH   DFND 1 33,000 0 0
ALLIANCE DATA SYSTEMS CO COM 018581108 1,687 6,000 SH   DFND 1 6,000 0 0
ALLSTATE CORP COM 020002101 9,982 170,000 SH   DFND 1 170,000 0 0
ALTERA CORP COM 021441100 1,321 38,000 SH   DFND 1 38,000 0 0
ALTRIA GROUP INC COM 02209S103 9,600 229,000 SH   DFND 1 229,000 0 0
AMAZON.COM INC COM 023135106 12,991 40,000 SH   DFND 1 40,000 0 0
AMBEV SA ADR ADR 02319V103 11,691 1,663,000 SH   DFND 1 1,663,000 0 0
AMERICA MOVIL ADR SERIES ADR 02364W204 12,414 600,000 SH   DFND 1 600,000 0 0
AMERICA MOVIL ADR SERIES ADR 02364W105 4,201 202,448 SH   DFND 1 202,448 0 0
AMERICAN ELECTRIC POWER COM 025537101 2,788 50,000 SH   DFND 1 50,000 0 0
AMERICAN EXPRESS CO COM 025816109 9,580 101,000 SH   DFND 1 101,000 0 0
AMERICAN INTERNATIONAL G COM 026874784 9,168 168,000 SH   DFND 1 168,000 0 0
AMERICAN TOWER CORP ADR 03027X100 9,983 111,000 SH   DFND 1 111,000 0 0
AMERISOURCEBERGEN CORP COM 03073E105 1,671 23,000 SH   DFND 1 23,000 0 0
AMGEN INC COM 031162100 9,233 78,000 SH   DFND 1 78,000 0 0
ANADARKO PETROLEUM CORP COM 032511107 6,348 58,000 SH   DFND 1 58,000 0 0
ANALOG DEVICES INC COM 032654105 1,892 35,000 SH   DFND 1 35,000 0 0
AON PLC COM G0408V102 2,883 32,000 SH   DFND 1 32,000 0 0
APACHE CORP COM 037411105 6,438 64,000 SH   DFND 1 64,000 0 0
APPLE INC COM 037833100 67,653 728,000 SH   DFND 1 728,000 0 0
APPLIED MATERIALS INC COM 038222105 7,329 325,000 SH   DFND 1 325,000 0 0
AT+T INC COM 00206R102 20,857 590,000 SH   DFND 1 590,000 0 0
AUTODESK INC COM 052769106 1,522 27,000 SH   DFND 1 27,000 0 0
AUTOMATIC DATA PROCESS COM 053015103 4,360 55,000 SH   DFND 1 55,000 0 0
AUTONATION INC COM 05329W102 4,653 78,000 SH   DFND 1 78,000 0 0
AUTOZONE INC COM 053332102 7,772 14,500 SH   DFND 1 14,500 0 0
AVAGO TECHNOLOGIES LTD COM Y0486S104 2,090 29,000 SH   DFND 1 29,000 0 0
AVALONBAY COMMUNITIES ADR 053484101 2,132 15,000 SH   DFND 1 15,000 0 0
BAIDU INC SPON ADR ADR 056752108 9,341 50,000 SH   DFND 1 50,000 0 0
BAKER HUGHES INC COM 057224107 4,020 54,000 SH   DFND 1 54,000 0 0
BANCO BRADESCO ADR ADR 059460303 24,666 1,698,755 SH   DFND 1 1,698,755 0 0
BANCOLOMBIA S.A. SPONS ADR 05968L102 3,469 60,000 SH   DFND 1 60,000 0 0
BANK OF AMERICA CORP COM 060505104 17,280 1,125,000 SH   DFND 1 1,125,000 0 0
BANK OF NEW YORK MELLON COM 064058100 4,870 130,000 SH   DFND 1 130,000 0 0
BAXTER INTERNATIONAL INC COM 071813109 4,409 61,000 SH   DFND 1 61,000 0 0
BB+T CORP COM 054937107 3,076 78,000 SH   DFND 1 78,000 0 0
BECTON DICKINSON AND CO COM 075887109 8,396 71,000 SH   DFND 1 71,000 0 0
BERKSHIRE HATHAWAY INC COM 084670702 25,310 200,000 SH   DFND 1 200,000 0 0
BIOGEN IDEC INC COM 09062X103 3,153 10,000 SH   DFND 1 10,000 0 0
BLACKROCK INC COM 09247X101 4,474 14,000 SH   DFND 1 14,000 0 0
BOEING CO/THE COM 097023105 6,224 49,000 SH   DFND 1 49,000 0 0
BOISE CASCADE CO DEL COM 09739D100 774 27,021 SH   SOLE   27,021 0 0
BOSTON PROPERTIES INC ADR 101121101 2,008 17,000 SH   DFND 1 17,000 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 8,971 185,000 SH   DFND 1 185,000 0 0
BROADCOM CORP CL A COM 111320107 3,712 100,000 SH   DFND 1 100,000 0 0
BROWN FORMAN CORP CLASS COM 115637209 15,254 162,000 SH   DFND 1 162,000 0 0
CAMERON INTERNATIONAL CO COM 13342B105 8,124 120,000 SH   DFND 1 120,000 0 0
CAMPBELL SOUP CO COM 134429109 1,008 22,000 SH   DFND 1 22,000 0 0
CAPITAL ONE FINANCIAL CO COM 14040H105 9,995 121,000 SH   DFND 1 121,000 0 0
CARDINAL HEALTH INC COM 14149Y108 6,854 100,000 SH   DFND 1 100,000 0 0
CATERPILLAR INC COM 149123101 10,430 96,000 SH   DFND 1 96,000 0 0
CBS CORP CLASS B NON VOT COM 124857202 3,915 63,000 SH   DFND 1 63,000 0 0
CELGENE CORP COM 151020104 2,576 30,000 SH   DFND 1 30,000 0 0
CEMEX SAB SPONS ADR PART ADR 151290889 8,644 653,365 SH   DFND 1 653,365 0 0
CENTURYLINK INC COM 156700106 2,352 65,000 SH   DFND 1 65,000 0 0
CHESAPEAKE ENERGY CORP COM 165167107 2,331 75,000 SH   DFND 1 75,000 0 0
CHEVRON CORP COM 166764100 32,886 252,000 SH   DFND 1 252,000 0 0
CHUBB CORP COM 171232101 2,397 26,000 SH   DFND 1 26,000 0 0
CHURCH + DWIGHT CO INC COM 171340102 9,161 131,000 SH   DFND 1 131,000 0 0
CIA SIDERURGICA NACL SP ADR 20440W105 278 65,400 SH   DFND 1 65,400 0 0
CINTAS CORP COM 172908105 8,260 130,000 SH   DFND 1 130,000 0 0
CISCO SYSTEMS INC COM 17275R102 19,507 785,000 SH   DFND 1 785,000 0 0
CITIGROUP INC COM 172967424 16,246 345,000 SH   DFND 1 345,000 0 0
CME GROUP INC COM 12572Q105 4,257 60,000 SH   SOLE   60,000 0 0
COCA COLA CO/THE COM 191216100 20,361 481,000 SH   DFND 1 481,000 0 0
COCA COLA ENTERPRISES COM 19122T109 1,385 29,000 SH   DFND 1 29,000 0 0
COGNIZANT TECH SOLUTIONS COM 192446102 3,423 70,000 SH   DFND 1 70,000 0 0
COLGATE PALMOLIVE CO COM 194162103 7,224 106,000 SH   DFND 1 106,000 0 0
COMCAST CORP CLASS A COM 20030N101 12,722 237,000 SH   DFND 1 237,000 0 0
CONOCOPHILLIPS COM 20825C104 11,999 140,000 SH   DFND 1 140,000 0 0
CONSOLIDATED EDISON INC COM 209115104 1,962 34,000 SH   DFND 1 34,000 0 0
CONSTELLATION BRANDS INC COM 21036P108 8,109 92,000 SH   DFND 1 92,000 0 0
CORNING INC COM 219350105 9,763 445,000 SH   DFND 1 445,000 0 0
COSTCO WHOLESALE CORP COM 22160K105 5,528 48,000 SH   DFND 1 48,000 0 0
COVIDIEN PLC COM G2554F113 9,383 104,000 SH   DFND 1 104,000 0 0
CREDICORP LTD COM G2519Y108 13,989 90,010 SH   DFND 1 90,010 0 0
CROWN CASTLE INTL CORP ADR 228227104 8,538 115,000 SH   DFND 1 115,000 0 0
CSX CORP COM 126408103 3,233 105,000 SH   DFND 1 105,000 0 0
CVS CAREMARK CORP COM 126650100 10,924 145,000 SH   DFND 1 145,000 0 0
DANAHER CORP COM 235851102 4,801 61,000 SH   DFND 1 61,000 0 0
DEERE + CO COM 244199105 8,962 99,000 SH   DFND 1 99,000 0 0
DELPHI AUTOMOTIVE PLC COM G27823106 2,474 36,000 SH   DFND 1 36,000 0 0
DELTA AIR LINES INC COM 247361702 11,613 300,000 SH   DFND 1 300,000 0 0
DEVON ENERGY CORPORATION COM 25179M103 14,768 186,000 SH   DFND 1 186,000 0 0
DIRECTV COM 25490A309 4,761 56,000 SH   DFND 1 56,000 0 0
DISCOVER FINANCIAL SERV COM 254709108 9,419 152,000 SH   DFND 1 152,000 0 0
DISH NETWORK CORP A COM 25470M109 1,562 24,000 SH   DFND 1 24,000 0 0
DOMINION RESOURCES INC COM 25746U109 4,575 64,000 SH   DFND 1 64,000 0 0
DOW CHEMICAL CO/THE COM 260543103 13,066 254,000 SH   DFND 1 254,000 0 0
DR PEPPER SNAPPLE GROUP COM 26138E109 5,448 93,000 SH   DFND 1 93,000 0 0
DU PONT (E.I.) DE NEMOUR COM 263534109 4,579 70,000 SH   DFND 1 70,000 0 0
DUKE ENERGY CORP COM 26441C204 5,860 79,000 SH   DFND 1 79,000 0 0
EASTMAN CHEMICAL CO COM 277432100 1,572 18,000 SH   DFND 1 18,000 0 0
EATON CORP PLC COM G29183103 3,781 49,000 SH   DFND 1 49,000 0 0
EBAY INC COM 278642103 6,558 131,000 SH   DFND 1 131,000 0 0
ECOLAB INC COM 278865100 9,349 84,000 SH   DFND 1 84,000 0 0
EDISON INTERNATIONAL COM 281020107 2,208 38,000 SH   DFND 1 38,000 0 0
ELECTRONIC ARTS INC COM 285512109 1,076 30,000 SH   DFND 1 30,000 0 0
ELI LILLY + CO COM 532457108 10,755 173,000 SH   DFND 1 173,000 0 0
EMC CORP/MA COM 268648102 5,951 226,000 SH   DFND 1 226,000 0 0
EMERSON ELECTRIC CO COM 291011104 4,908 74,000 SH   DFND 1 74,000 0 0
ENSCO PLC CL A COM G3157S106 5,668 102,000 SH   DFND 1 102,000 0 0
ENTERGY CORP COM 29364G103 1,724 21,000 SH   DFND 1 21,000 0 0
EOG RESOURCES INC COM 26875P101 6,776 58,000 SH   DFND 1 58,000 0 0
EQUITY RESIDENTIAL ADR 29476L107 2,583 41,000 SH   DFND 1 41,000 0 0
EXELON CORP COM 30161N101 3,501 96,000 SH   DFND 1 96,000 0 0
EXPRESS SCRIPTS HOLDING COM 30219G108 3,119 45,000 SH   DFND 1 45,000 0 0
EXXON MOBIL CORP COM 30231G102 49,304 490,000 SH   DFND 1 490,000 0 0
FACEBOOK INC A COM 30303M102 7,064 105,000 SH   DFND 1 105,000 0 0
FEDEX CORP COM 31428X106 5,146 34,000 SH   DFND 1 34,000 0 0
FIBRIA CELULOSE SA SPON ADR 31573A109 4,930 507,704 SH   DFND 1 507,704 0 0
FISERV INC COM 337738108 1,568 26,000 SH   DFND 1 26,000 0 0
FLOWSERVE CORP COM 34354P105 1,190 16,000 SH   DFND 1 16,000 0 0
FOMENTO ECONOMICO MEX SP ADR 344419106 10,423 111,300 SH   DFND 1 111,300 0 0
FORD MOTOR CO COM 345370860 13,612 790,000 SH   DFND 1 790,000 0 0
FREEPORT MCMORAN INC COM 35671D857 4,014 110,000 SH   DFND 1 110,000 0 0
GAP INC/THE COM 364760108 1,247 30,000 SH   DFND 1 30,000 0 0
GENERAL DYNAMICS CORP COM 369550108 4,312 37,000 SH   DFND 1 37,000 0 0
GENERAL ELECTRIC CO COM 369604103 30,999 1,180,000 SH   DFND 1 1,180,000 0 0
GENERAL MILLS INC COM 370334104 3,781 72,000 SH   DFND 1 72,000 0 0
GENERAL MOTORS CO COM 37045V100 3,448 95,000 SH   DFND 1 95,000 0 0
GILEAD SCIENCES INC COM 375558103 14,758 178,000 SH   DFND 1 178,000 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 7,872 47,000 SH   DFND 1 47,000 0 0
GOOGLE INC CL A COM 38259P508 18,124 31,000 SH   DFND 1 31,000 0 0
GOOGLE INC CL C COM 38259P706 17,833 31,000 SH   DFND 1 31,000 0 0
GRUPO TELEVISA SA SPON ADR 40049J206 5,320 155,050 SH   DFND 1 155,050 0 0
HALLIBURTON CO COM 406216101 6,957 98,000 SH   DFND 1 98,000 0 0
HARLEY DAVIDSON INC COM 412822108 1,746 25,000 SH   DFND 1 25,000 0 0
HARTFORD FINANCIAL SVCS COM 416515104 1,790 50,000 SH   DFND 1 50,000 0 0
HCA HOLDINGS INC COM 40412C101 1,973 35,000 SH   DFND 1 35,000 0 0
HCP INC ADR 40414L109 2,151 52,000 SH   DFND 1 52,000 0 0
HERSHEY CO/THE COM 427866108 1,558 16,000 SH   DFND 1 16,000 0 0
HESS CORP COM 42809H107 3,263 33,000 SH   DFND 1 33,000 0 0
HEWLETT PACKARD CO COM 428236103 7,071 210,000 SH   DFND 1 210,000 0 0
HOME DEPOT INC COM 437076102 5,667 70,000 SH   DFND 1 70,000 0 0
HOMEAWAY INC COM 43739Q100 941 27,028 SH   SOLE   27,028 0 0
HONEYWELL INTERNATIONAL COM 438516106 13,938 150,000 SH   DFND 1 150,000 0 0
HOST HOTELS + RESORTS ADR 44107P104 1,760 80,000 SH   DFND 1 80,000 0 0
ILLUMINA INC COM 452327109 2,500 14,000 SH   DFND 1 14,000 0 0
INTEL CORP COM 458140100 23,175 750,000 SH   DFND 1 750,000 0 0
INTERNATIONAL PAPER CO COM 460146103 2,422 48,000 SH   DFND 1 48,000 0 0
INTL BUSINESS MACHINES C COM 459200101 21,203 117,000 SH   DFND 1 117,000 0 0
INTUIT INC COM 461202103 2,416 30,000 SH   DFND 1 30,000 0 0
IRON MOUNTAIN INC COM 462846106 8,863 250,000 SH   DFND 1 250,000 0 0
ITAU UNIBANCO HLDNG PREF ADR 465562106 28,858 2,008,187 SH   DFND 1 2,008,187 0 0
JOHNSON + JOHNSON COM 478160104 40,263 385,000 SH   DFND 1 385,000 0 0
JOHNSON CONTROLS INC COM 478366107 3,395 68,000 SH   DFND 1 68,000 0 0
JOY GLOBAL INC COM 481165108 3,880 63,000 SH   DFND 1 63,000 0 0
JPMORGAN CHASE + CO COM 46625H100 24,644 428,000 SH   DFND 1 428,000 0 0
KANSAS CITY SOUTHERN COM 485170302 1,397 13,000 SH   DFND 1 13,000 0 0
KELLOGG CO COM 487836108 1,839 28,000 SH   DFND 1 28,000 0 0
KEYCORP COM 493267108 3,439 240,000 SH   DFND 1 240,000 0 0
KIMBERLY CLARK CORP COM 494368103 4,892 44,000 SH   DFND 1 44,000 0 0
KINDER MORGAN INC COM 49456B101 2,719 75,000 SH   DFND 1 75,000 0 0
KINDER MORGAN INC ADR 49456B119 532 192,000 SH   DFND 1 192,000 0 0
KOHLS CORP COM 500255104 1,264 24,000 SH   DFND 1 24,000 0 0
KRAFT FOODS GROUP INC COM 50076Q106 3,897 65,000 SH   DFND 1 65,000 0 0
LAS VEGAS SANDS CORP COM 517834107 3,582 47,000 SH   DFND 1 47,000 0 0
LENNAR CORP A COM 526057104 9,231 220,000 SH   DFND 1 220,000 0 0
LINCOLN NATIONAL CORP COM 534187109 2,572 50,000 SH   DFND 1 50,000 0 0
LOCKHEED MARTIN CORP COM 539830109 3,374 21,000 SH   DFND 1 21,000 0 0
LORILLARD INC COM 544147101 2,499 41,000 SH   DFND 1 41,000 0 0
LOWE S COS INC COM 548661107 1,440 30,000 SH   DFND 1 30,000 0 0
LYONDELLBASELL INDU CL COM N53745100 12,887 132,000 SH   DFND 1 132,000 0 0
MACY S INC COM 55616P104 11,600 200,000 SH   DFND 1 200,000 0 0
MARATHON OIL CORP COM 565849106 3,073 77,000 SH   DFND 1 77,000 0 0
MARKETO INC COM 57063L107 331 11,391 SH   SOLE   11,391 0 0
MARRIOTT INTERNATIONAL COM 571903202 6,282 98,000 SH   DFND 1 98,000 0 0
MASTERCARD INC CLASS A COM 57636Q104 8,081 110,000 SH   DFND 1 110,000 0 0
MCDONALD S CORP COM 580135101 11,282 112,000 SH   DFND 1 112,000 0 0
MCGRAW HILL FINANCIAL IN COM 580645109 2,242 27,000 SH   DFND 1 27,000 0 0
MCKESSON CORP COM 58155Q103 4,469 24,000 SH   DFND 1 24,000 0 0
MEAD JOHNSON NUTRITION C COM 582839106 2,236 24,000 SH   DFND 1 24,000 0 0
MEDTRONIC INC COM 585055106 17,218 270,000 SH   DFND 1 270,000 0 0
MELCO CROWN ENTERTAINME ADR 585464100 11,207 314,000 SH   DFND 1 314,000 0 0
MERCK + CO. INC. COM 58933Y105 19,319 334,000 SH   DFND 1 334,000 0 0
METLIFE INC COM 59156R108 9,718 175,000 SH   DFND 1 175,000 0 0
MICRON TECHNOLOGY INC COM 595112103 11,035 335,000 SH   DFND 1 335,000 0 0
MICROSOFT CORP COM 594918104 43,785 1,050,000 SH   DFND 1 1,050,000 0 0
MONDELEZ INTERNATIONAL COM 609207105 6,958 185,000 SH   DFND 1 185,000 0 0
MONSANTO CO COM 61166W101 16,462 132,000 SH   DFND 1 132,000 0 0
MOODY S CORP COM 615369105 2,191 25,000 SH   DFND 1 25,000 0 0
MORGAN STANLEY COM 617446448 4,525 140,000 SH   DFND 1 140,000 0 0
MYLAN INC COM 628530107 2,217 43,000 SH   DFND 1 43,000 0 0
NABORS INDUSTRIES LTD COM G6359F103 7,780 265,000 SH   DFND 1 265,000 0 0
NATIONAL OILWELL VARCO COM 637071101 12,351 150,000 SH   DFND 1 150,000 0 0
NEW ORIENTAL EDUCATION ADR 647581107 6,478 244,000 SH   DFND 1 244,000 0 0
NEWMONT MINING CORP COM 651639106 9,667 380,000 SH   DFND 1 380,000 0 0
NEWS CORP CLASS A COM 65249B109 897 50,000 SH   DFND 1 50,000 0 0
NEXTERA ENERGY INC COM 65339F101 4,611 45,000 SH   DFND 1 45,000 0 0
NIELSEN NV COM N63218106 1,210 25,000 SH   DFND 1 25,000 0 0
NIKE INC CL B COM 654106103 2,326 30,000 SH   DFND 1 30,000 0 0
NOBLE ENERGY INC COM 655044105 3,021 39,000 SH   DFND 1 39,000 0 0
NORFOLK SOUTHERN CORP COM 655844108 3,296 32,000 SH   DFND 1 32,000 0 0
NORTHERN TRUST CORP COM 665859104 1,798 28,000 SH   DFND 1 28,000 0 0
NOW INC/DE COM 67011P100 1,132 31,250 SH   DFND 1 31,250 0 0
NVIDIA CORP COM 67066G104 1,112 60,000 SH   DFND 1 60,000 0 0
NXP SEMICONDUCTORS NV COM N6596X109 3,971 60,000 SH   DFND 1 60,000 0 0
O REILLY AUTOMOTIVE INC COM 67103H107 1,957 13,000 SH   DFND 1 13,000 0 0
OCCIDENTAL PETROLEUM CO COM 674599105 9,233 90,000 SH   DFND 1 90,000 0 0
OI SA ADR ADR 670851104 26 26,930 SH   DFND 1 26,930 0 0
OI SA ADR ADR 670851203 1,332 1,552,066 SH   DFND 1 1,552,066 0 0
OMNICOM GROUP COM 681919106 2,136 30,000 SH   DFND 1 30,000 0 0
ORACLE CORP COM 68389X105 19,450 480,000 SH   DFND 1 480,000 0 0
P G + E CORP COM 69331C108 6,624 138,000 SH   DFND 1 138,000 0 0
PEPSICO INC COM 713448108 15,631 175,000 SH   DFND 1 175,000 0 0
PETROLEO BRASILEIRO S.A. ADR 71654V408 28,368 1,939,000 SH   DFND 1 1,939,000 0 0
PETROLEO BRASILEIRO SPON ADR 71654V101 2,346 150,127 SH   DFND 1 150,127 0 0
PFIZER INC W/D COM 717081103 21,214 715,000 SH   DFND 1 715,000 0 0
PHILIP MORRIS INTERNATIO COM 718172109 15,086 179,000 SH   DFND 1 179,000 0 0
PHILLIPS 66 COM 718546104 5,066 63,000 SH   DFND 1 63,000 0 0
PIONEER NATURAL RESOURCE COM 723787107 3,447 15,000 SH   DFND 1 15,000 0 0
PLUM CREEK TIMBER CO ADR 729251108 902 20,000 SH   DFND 1 20,000 0 0
PNC FINANCIAL SERVICES G COM 693475105 11,130 125,000 SH   DFND 1 125,000 0 0
PPG INDUSTRIES INC COM 693506107 3,572 17,000 SH   DFND 1 17,000 0 0
PPL CORPORATION COM 69351T106 8,880 250,000 SH   DFND 1 250,000 0 0
PRECISION CASTPARTS CORP COM 740189105 3,786 15,000 SH   DFND 1 15,000 0 0
PRICELINE GROUP INC/THE COM 741503403 4,812 4,000 SH   DFND 1 4,000 0 0
PRINCIPAL FINANCIAL GROU COM 74251V102 1,615 32,000 SH   DFND 1 32,000 0 0
PROCTER + GAMBLE CO/THE COM 742718109 24,275 309,000 SH   DFND 1 309,000 0 0
PROLOGIS INC ADR 74340W103 2,383 58,000 SH   DFND 1 58,000 0 0
PRUDENTIAL FINANCIAL INC COM 744320102 4,261 48,000 SH   DFND 1 48,000 0 0
PUBLIC SERVICE ENTERPRIS COM 744573106 8,768 215,000 SH   DFND 1 215,000 0 0
PUBLIC STORAGE ADR 74460D109 2,569 15,000 SH   DFND 1 15,000 0 0
QUALCOMM INC COM 747525103 14,571 184,000 SH   DFND 1 184,000 0 0
RED HAT INC COM 756577102 1,160 21,000 SH   DFND 1 21,000 0 0
REYNOLDS AMERICAN INC COM 761713106 2,112 35,000 SH   DFND 1 35,000 0 0
ROCKWELL AUTOMATION INC COM 773903109 2,002 16,000 SH   DFND 1 16,000 0 0
SALESFORCE.COM INC COM 79466L302 3,252 56,000 SH   DFND 1 56,000 0 0
SANDISK CORP COM 80004C101 7,831 75,000 SH   DFND 1 75,000 0 0
SBA COMMUNICATIONS CORP COM 78388J106 1,432 14,000 SH   DFND 1 14,000 0 0
SCHLUMBERGER LTD COM 806857108 17,103 145,000 SH   DFND 1 145,000 0 0
SEAGATE TECHNOLOGY COM G7945M107 1,988 35,000 SH   DFND 1 35,000 0 0
SEMPRA ENERGY COM 816851109 2,931 28,000 SH   DFND 1 28,000 0 0
SIMON PROPERTY GROUP INC ADR 828806109 5,652 34,000 SH   DFND 1 34,000 0 0
SINA CORP COM G81477104 3,134 63,000 SH   DFND 1 63,000 0 0
SOUTHERN CO/THE COM 842587107 4,536 100,000 SH   DFND 1 100,000 0 0
SOUTHWESTERN ENERGY CO COM 845467109 1,591 35,000 SH   DFND 1 35,000 0 0
SPECTRA ENERGY CORP COM 847560109 3,228 76,000 SH   DFND 1 76,000 0 0
ST JUDE MEDICAL INC COM 790849103 2,354 34,000 SH   DFND 1 34,000 0 0
STARBUCKS CORP COM 855244109 6,036 78,000 SH   DFND 1 78,000 0 0
STARWOOD HOTELS + RESORT COM 85590A401 12,122 150,000 SH   DFND 1 150,000 0 0
STATE STREET CORP COM 857477103 3,025 45,000 SH   DFND 1 45,000 0 0
STRYKER CORP COM 863667101 2,360 28,000 SH   DFND 1 28,000 0 0
SYSCO CORP COM 871829107 10,486 280,000 SH   DFND 1 280,000 0 0
TARGET CORP COM 87612E106 4,055 70,000 SH   DFND 1 70,000 0 0
TE CONNECTIVITY LTD COM H84989104 2,844 46,000 SH   DFND 1 46,000 0 0
TEXAS INSTRUMENTS INC COM 882508104 5,974 125,000 SH   DFND 1 125,000 0 0
THERMO FISHER SCIENTIFIC COM 883556102 11,328 96,000 SH   DFND 1 96,000 0 0
TIME INC COM 887228104 303 12,500 SH   DFND 1 12,500 0 0
TIME WARNER CABLE COM 88732J207 4,566 31,000 SH   DFND 1 31,000 0 0
TIME WARNER INC COM 887317303 7,024 100,000 SH   DFND 1 100,000 0 0
TRAVELERS COS INC/THE COM 89417E109 5,736 61,000 SH   DFND 1 61,000 0 0
TWENTY FIRST CENTURY FOX COM 90130A101 5,624 160,000 SH   DFND 1 160,000 0 0
TYCO INTERNATIONAL LTD COM H89128104 2,280 50,000 SH   DFND 1 50,000 0 0
UNION PACIFIC CORP COM 907818108 13,965 140,000 SH   DFND 1 140,000 0 0
UNITED PARCEL SERVICE CL COM 911312106 20,017 195,000 SH   DFND 1 195,000 0 0
UNITED TECHNOLOGIES CORP COM 913017109 13,852 120,000 SH   DFND 1 120,000 0 0
UNITEDHEALTH GROUP INC COM 91324P102 9,072 111,000 SH   DFND 1 111,000 0 0
US BANCORP COM 902973304 20,394 471,000 SH   DFND 1 471,000 0 0
VALE SA SP ADR ADR 91912E105 18,833 1,423,507 SH   DFND 1 1,423,507 0 0
VALERO ENERGY CORP COM 91913Y100 1,503 30,000 SH   DFND 1 30,000 0 0
VERIZON COMMUNICATIONS COM 92343V104 23,032 471,000 SH   DFND 1 471,000 0 0
VIACOM INC CLASS B COM 92553P201 3,816 44,000 SH   DFND 1 44,000 0 0
VISA INC CLASS A SHARES COM 92826C839 10,535 50,000 SH   DFND 1 50,000 0 0
VULCAN MATERIALS CO COM 929160109 6,376 100,000 SH   DFND 1 100,000 0 0
WAL MART STORES INC COM 931142103 13,355 178,000 SH   DFND 1 178,000 0 0
WALGREEN CO COM 931422109 7,262 98,000 SH   DFND 1 98,000 0 0
WALT DISNEY CO/THE COM 254687106 17,232 201,000 SH   DFND 1 201,000 0 0
WASHINGTON PRIME GROUP ADR 939647103 319 17,000 SH   DFND 1 17,000 0 0
WELLPOINT INC COM 94973V107 3,335 31,000 SH   DFND 1 31,000 0 0
WELLS FARGO + CO COM 949746101 31,051 591,000 SH   DFND 1 591,000 0 0
WESTERN DIGITAL CORP COM 958102105 4,246 46,000 SH   DFND 1 46,000 0 0
WEYERHAEUSER CO W/D ADR 962166104 8,603 260,000 SH   DFND 1 260,000 0 0
WHITEWAVE FOODS CO COM 966244105 6,957 215,000 SH   DFND 1 215,000 0 0
WILLIAMS COS INC COM 969457100 4,364 75,000 SH   DFND 1 75,000 0 0
WISCONSIN ENERGY CORP COM 976657106 11,118 237,000 SH   DFND 1 237,000 0 0
WW GRAINGER INC COM 384802104 1,779 7,000 SH   DFND 1 7,000 0 0
XILINX INC COM 983919101 1,419 30,000 SH   DFND 1 30,000 0 0
YUM BRANDS INC COM 988498101 10,229 126,000 SH   DFND 1 126,000 0 0
ZIMMER HOLDINGS INC COM 98956P102 2,077 20,000 SH   DFND 1 20,000 0 0