Hanseatic Management Services 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
Advent Software Inc.	COM	007974108	29	929	SH		SOLE		0	929	0
Aetna Inc.	COM	00817Y108	415	6,490	SH		SOLE		0	6,490	0
Albany International Corp	COM	012348108	10	276	SH		SOLE		0	276	0
Alere Inc.	COM	01449J105	28	916	SH		SOLE		0	916	0
Alliant Techsystems Inc	COM	018804104	1,253	12,840	SH		SOLE		0	12,840	0
Allstate Corporation	COM	020002101	9	186	SH		SOLE		0	186	0
Amerco	COM	023586100	26	142	SH		SOLE		0	142	0
American Financial Group	COM	025932104	383	7,080	SH		SOLE		0	7,080	0
American National Insur.	COM	028591105	335	3,420	SH		SOLE		0	3,420	0
Ameriprise Financial, Inc.	COM	03076C106	453	4,970	SH		SOLE		0	4,970	0
AmerisourceBergen Corp	COM	03073E105	1,601	26,200	SH		SOLE		0	26,200	0
Apple Inc.	COM	037833100	6,121	12,840	SH		SOLE		0	12,840	0
Applied Materials Inc.	COM	038222105	10	576	SH		SOLE		0	576	0
Applied Micro Circuits	COM	03822W406	56	4,374	SH		SOLE		0	4,374	0
Atmel Corporation	COM	049513104	1,210	162,700	SH		SOLE		0	162,700	0
Automatic Data Processing Inc.	COM	053015103	449	6,200	SH		SOLE		0	6,200	0
Avis Budget Group, Inc.	COM	053774105	23	802	SH		SOLE		0	802	0
B&G Foods, Inc.	COM	05508R106	9	263	SH		SOLE		0	263	0
Bally Technologies, Inc.	COM	05874B107	899	12,480	SH		SOLE		0	12,480	0
Bank of America Corp	COM	060505104	469	34,000	SH		SOLE		0	34,000	0
Best Buy Co., Inc.	COM	086516101	1,916	51,100	SH		SOLE		0	51,100	0
Biogen Idec Inc.	COM	09062X103	540	2,242	SH		SOLE		0	2,242	0
Black Hills Corporation	COM	092113109	9	185	SH		SOLE		0	185	0
Blackrock Inc.	COM	09247X101	9	33	SH		SOLE		0	33	0
Bloomin' Brands, Inc.	COM	094235108	26	1,101	SH		SOLE		0	1,101	0
Boeing Company	COM	097023105	2,047	17,419	SH		SOLE		0	17,419	0
Booz Allen Hamilton cl A	COM	099502106	9	476	SH		SOLE		0	476	0
Boston Scientific Corp	COM	101137107	2,297	195,650	SH		SOLE		0	195,650	0
Boyd Gaming Corporation	COM	103304101	30	2,108	SH		SOLE		0	2,108	0
Broadridge Fncl Solutions	COM	11133T103	10	328	SH		SOLE		0	328	0
Brocade Communications Sys	COM	111621306	1,260	156,560	SH		SOLE		0	156,560	0
Cabela's Inc.	COM	126804301	23	372	SH		SOLE		0	372	0
Cabot Oil & Gas Corp	COM	127097103	1,391	37,260	SH		SOLE		0	37,260	0
CalAmp Corp.	COM	128126109	64	3,619	SH		SOLE		0	3,619	0
Calix, Inc.	COM	13100M509	60	4,674	SH		SOLE		0	4,674	0
Campbell Soup Company	COM	134429109	8	204	SH		SOLE		0	204	0
CBOE Holdings, Inc.	COM	12503M108	1,080	23,880	SH		SOLE		0	23,880	0
Celgene Corp.	COM	151020104	1,317	8,543	SH		SOLE		0	8,543	0
Charles Schwab Corp	COM	808513105	336	15,900	SH		SOLE		0	15,900	0
Cheniere Energy Inc	COM	16411R208	1,468	42,991	SH		SOLE		0	42,991	0
Chesapeake Energy Corp	COM	165167107	1,204	46,538	SH		SOLE		0	46,538	0
Chesapeake Utilities Corp.	COM	165303108	9	177	SH		SOLE		0	177	0
Chicago Bridge & Iron	COM	167250109	29	429	SH		SOLE		0	429	0
Chiquita Brands Intl	COM	170032809	55	4,343	SH		SOLE		0	4,343	0
Chuy's Holdings, Inc.	COM	171604101	25	709	SH		SOLE		0	709	0
Cigna Corporation	COM	125509109	1,369	17,810	SH		SOLE		0	17,810	0
Cimarex Energy Co	COM	171798101	1,992	20,669	SH		SOLE		0	20,669	0
Cinemark Holdings Inc	COM	17243V102	10	317	SH		SOLE		0	317	0
Cisco Systems Inc.	COM	17275R102	615	26,443	SH		SOLE		0	26,443	0
CME Group Inc.	COM	12572Q105	36	492	SH		SOLE		0	492	0
Computer Sciences Corp	COM	205363104	36	691	SH		SOLE		0	691	0
ConocoPhillips	COM	20825C104	548	7,890	SH		SOLE		0	7,890	0
Constellation Brands Inc	COM	21036P108	54	947	SH		SOLE		0	947	0
Copa Holdings cl A	COM	P31076105	9	68	SH		SOLE		0	68	0
CorVel Corporation	COM	221006109	40	1,074	SH		SOLE		0	1,074	0
Covance Inc.	COM	222816100	1,350	15,610	SH		SOLE		0	15,610	0
Cracker Barrel Old Cntry Store	COM	22410J106	37	358	SH		SOLE		0	358	0
Crane Company	COM	224399105	10	168	SH		SOLE		0	168	0
Cray Inc	COM	225223304	45	1,853	SH		SOLE		0	1,853	0
Crosstex Energy Inc	COM	22765Y104	10	461	SH		SOLE		0	461	0
Cypress Semiconductor	COM	232806109	7	753	SH		SOLE		0	753	0
Dean Foods Co	COM	242370203	1,331	68,980	SH		SOLE		0	68,980	0
Delta Air Lines, Inc.	COM	247361702	1,617	68,560	SH		SOLE		0	68,560	0
DexCom, Inc.	COM	252131107	60	2,128	SH		SOLE		0	2,128	0
Diamond Foods, Inc.	COM	252603105	26	1,106	SH		SOLE		0	1,106	0
Dover Corporation	COM	260003108	394	4,390	SH		SOLE		0	4,390	0
Dow Chemical Company	COM	260543103	9	240	SH		SOLE		0	240	0
Dreamworks Animation SKG, Inc	COM	26153C103	1,302	45,744	SH		SOLE		0	45,744	0
Dun & Bradstreet Corp	COM	26483E100	1,223	11,780	SH		SOLE		0	11,780	0
E*TRADE Financial Corp	COM	269246401	1,477	89,497	SH		SOLE		0	89,497	0
Eaton Corporatoin, plc	COM	G29183103	9	138	SH		SOLE		0	138	0
Education Management Corp	COM	28140M103	56	6,164	SH		SOLE		0	6,164	0
Electronic Arts Inc.	COM	285512109	1,155	45,212	SH		SOLE		0	45,212	0
EMCOR Group Inc.	COM	29084Q100	23	577	SH		SOLE		0	577	0
Endo Health Solutions Inc.	COM	29264F205	32	709	SH		SOLE		0	709	0
Energen Corporation	COM	29265N108	1,367	17,890	SH		SOLE		0	17,890	0
EOG Resources Inc	COM	26875P101	2,238	13,220	SH		SOLE		0	13,220	0
EQT Corporation	COM	26884L109	1,377	15,520	SH		SOLE		0	15,520	0
Exelis Inc.	COM	30162A108	2,582	164,339	SH		SOLE		0	164,339	0
Facebook, Inc. cl A	COM	30303M102	2,646	52,680	SH		SOLE		0	52,680	0
Federated Investors Inc.	COM	314211103	9	334	SH		SOLE		0	334	0
Fidelity National Info Srv	COM	31620M106	10	219	SH		SOLE		0	219	0
Financial Engines, Inc.	COM	317485100	39	649	SH		SOLE		0	649	0
First Republic Bank	COM	33616C100	365	7,820	SH		SOLE		0	7,820	0
FleetCor Technologies, Inc.	COM	339041105	1,586	14,400	SH		SOLE		0	14,400	0
FLIR Systems Inc.	COM	302445101	1,966	62,600	SH		SOLE		0	62,600	0
Flowers Foods Inc	COM	343498101	9	400	SH		SOLE		0	400	0
Gamestop Corp	COM	36467W109	1,189	23,951	SH		SOLE		0	23,951	0
Gannett Co. Inc.	COM	364730101	10	370	SH		SOLE		0	370	0
GenCorp Inc.	COM	368682100	26	1,604	SH		SOLE		0	1,604	0
General Dynamics Corp.	COM	369550108	421	4,810	SH		SOLE		0	4,810	0
General Mills Inc.	COM	370334104	31	639	SH		SOLE		0	639	0
Gentex Corporation	COM	371901109	10	388	SH		SOLE		0	388	0
Genworth Financial Inc	COM	37247D106	1,292	100,910	SH		SOLE		0	100,910	0
Gilead Sciences Inc.	COM	375558103	2,434	38,718	SH		SOLE		0	38,718	0
Goodrich Petroleum Co	COM	382410405	55	2,267	SH		SOLE		0	2,267	0
Goodyear Tire & Rubber	COM	382550101	1,118	49,795	SH		SOLE		0	49,795	0
Google Inc	COM	38259P508	3,758	4,290	SH		SOLE		0	4,290	0
Green Mountain Coffee Roasters	COM	393122106	1,353	17,960	SH		SOLE		0	17,960	0
Groupon, Inc. cl A	COM	399473107	1,146	102,220	SH		SOLE		0	102,220	0
GT Advanced Tech Inc.	COM	36191U106	64	7,484	SH		SOLE		0	7,484	0
Gulfport Energy Corp	COM	402635304	762	11,841	SH		SOLE		0	11,841	0
Halliburton Company	COM	406216101	445	9,240	SH		SOLE		0	9,240	0
Hanesbrands, Inc.	COM	410345102	1,489	23,900	SH		SOLE		0	23,900	0
Hasbro Inc.	COM	418056107	9	193	SH		SOLE		0	193	0
Hercules Offshore, Inc.	COM	427093109	24	3,321	SH		SOLE		0	3,321	0
Hershey Co.	COM	427866108	394	4,260	SH		SOLE		0	4,260	0
Hertz Global Holdings, Inc.	COM	42805T105	1,014	45,740	SH		SOLE		0	45,740	0
Home Depot Inc.	COM	437076102	624	8,233	SH		SOLE		0	8,233	0
Home Loan Servicing Solutions	COM	G6648D109	8	370	SH		SOLE		0	370	0
Honeywell Intl Inc	COM	438516106	511	6,150	SH		SOLE		0	6,150	0
Howard Hughes Corp	COM	44267D107	1,251	11,130	SH		SOLE		0	11,130	0
Hubbell Inc cl B	CLB	443510201	373	3,560	SH		SOLE		0	3,560	0
Illumina Inc	COM	452327109	1,883	23,300	SH		SOLE		0	23,300	0
Incyte Corp	COM	45337C102	1,042	27,313	SH		SOLE		0	27,313	0
Infinera Corporation	COM	45667G103	29	2,565	SH		SOLE		0	2,565	0
Ingles Markets cl A	CLA	457030104	10	360	SH		SOLE		0	360	0
Interactive Brokers Group	COM	45841N107	10	532	SH		SOLE		0	532	0
International Paper Co.	COM	460146103	9	194	SH		SOLE		0	194	0
Intersil Corp cl A	COM	46069S109	19	1,723	SH		SOLE		0	1,723	0
Invesco Ltd.	COM	G491BT108	9	283	SH		SOLE		0	283	0
iShares China Large Cap ETF	ETF	464287184	10	268	SH		SOLE		0	268	0
iShares Russell 2000 ETF	ETF	464287655	11	102	SH		SOLE		0	102	0
iShares Select Dividend ETF	ETF	464287168	11	160	SH		SOLE		0	160	0
iShares Silver Trust	ETV	46428Q109	9	446	SH		SOLE		0	446	0
ITT Corporation	COM	450911102	436	12,120	SH		SOLE		0	12,120	0
j2 Global Inc	COM	48123V102	10	210	SH		SOLE		0	210	0
Jabil Circuit Inc.	COM	466313103	1,170	53,960	SH		SOLE		0	53,960	0
Johnson & Johnson	COM	478160104	1,959	22,595	SH		SOLE		0	22,595	0
K12 Inc.	COM	48273U102	42	1,363	SH		SOLE		0	1,363	0
Kansas City Southern	COM	485170302	1,223	11,180	SH		SOLE		0	11,180	0
KeyCorp	COM	493267108	350	30,730	SH		SOLE		0	30,730	0
Kirby Corporation	COM	497266106	394	4,550	SH		SOLE		0	4,550	0
Knightsbridge Tankers	COM	G5299G106	20	1,970	SH		SOLE		0	1,970	0
Kroger Company	COM	501044101	11	264	SH		SOLE		0	264	0
L Brands, Inc.	COM	501797104	10	160	SH		SOLE		0	160	0
Laredo Petroleum Holdings Inc	COM	516806106	1,445	48,670	SH		SOLE		0	48,670	0
Lexmark International Inc.	COM	529771107	1,209	36,641	SH		SOLE		0	36,641	0
Lincoln National Corp	COM	534187109	451	10,740	SH		SOLE		0	10,740	0
LinkedIn Corp cl A	CLA	53578A108	1,941	7,890	SH		SOLE		0	7,890	0
Lions Gate Entertainment	COM	535919203	60	1,703	SH		SOLE		0	1,703	0
Lockheed Martin Corp.	COM	539830109	1,646	12,904	SH		SOLE		0	12,904	0
Lowes Companies Inc.	COM	548661107	1,906	40,040	SH		SOLE		0	40,040	0
Lumber Liquidators Holdings	COM	55003T107	33	306	SH		SOLE		0	306	0
LyondellBasell Industries cl A	CLA	N53745100	10	130	SH		SOLE		0	130	0
Macquarie Infrastructure Co Tr	COM	55608B105	9	164	SH		SOLE		0	164	0
Magellan Midstream Partners	MLP	559080106	10	175	SH		SOLE		0	175	0
ManpowerGroup	COM	56418H100	1,924	26,450	SH		SOLE		0	26,450	0
Market Vectors Oil Service ETF	ETF	57060U191	11	229	SH		SOLE		0	229	0
Marvell Technology Grp	COM	G5876H105	9	802	SH		SOLE		0	802	0
Matador Resources Company	COM	576485205	24	1,470	SH		SOLE		0	1,470	0
Meredith Corporation	COM	589433101	10	212	SH		SOLE		0	212	0
MetLife, Inc.	COM	59156R108	428	9,120	SH		SOLE		0	9,120	0
MGM Resorts International	COM	552953101	1,383	67,680	SH		SOLE		0	67,680	0
Michael Kors Holdings Ltd	COM	G60754101	1,196	16,050	SH		SOLE		0	16,050	0
Micron Technology Inc	COM	595112103	1,919	109,850	SH		SOLE		0	109,850	0
Mohawk Industries Inc	COM	608190104	1,300	9,980	SH		SOLE		0	9,980	0
Moody's Corp.	COM	615369105	443	6,302	SH		SOLE		0	6,302	0
Morgan Stanley	COM	617446448	447	16,590	SH		SOLE		0	16,590	0
NCR Corporation	COM	62886E108	2,089	52,730	SH		SOLE		0	52,730	0
Netflix Inc	COM	64110L106	2,053	6,638	SH		SOLE		0	6,638	0
Newcastle Investment Corp	REIT	65105M108	9	1,633	SH		SOLE		0	1,633	0
NextEra Energy, Inc.	COM	65339F101	9	108	SH		SOLE		0	108	0
Northrop Grumman Corp	COM	666807102	1,298	13,627	SH		SOLE		0	13,627	0
Northstar Realty Finance Corp.	REIT	66704R100	9	990	SH		SOLE		0	990	0
Nu Skin Enterprises Inc.	COM	67018T105	2,158	22,540	SH		SOLE		0	22,540	0
NutriSystem, Inc.	COM	67069D108	23	1,583	SH		SOLE		0	1,583	0
NYSE Euronext	COM	629491101	9	218	SH		SOLE		0	218	0
Ocwen Financial Corp	COM	675746309	1,325	23,752	SH		SOLE		0	23,752	0
Packaging Corp of America	COM	695156109	11	191	SH		SOLE		0	191	0
Parkway Properties Inc	REIT	70159Q104	9	531	SH		SOLE		0	531	0
Pharmacyclics Inc.	COM	716933106	1,805	13,053	SH		SOLE		0	13,053	0
Pioneer Natural Resources	COM	723787107	1,459	7,730	SH		SOLE		0	7,730	0
Polaris Industries Inc	COM	731068102	1,484	11,490	SH		SOLE		0	11,490	0
PowerShares QQQ Trust Sr 1	ETF	73935A104	11	143	SH		SOLE		0	143	0
PPG Industries Inc.	COM	693506107	434	2,600	SH		SOLE		0	2,600	0
Priceline.com Inc.	COM	741503403	1,264	1,250	SH		SOLE		0	1,250	0
Principal Financial Group	COM	74251V102	352	8,230	SH		SOLE		0	8,230	0
Protective Life Corp.	COM	743674103	345	8,115	SH		SOLE		0	8,115	0
Proto Labs, Inc.	COM	743713109	58	759	SH		SOLE		0	759	0
Prudential Financial Inc	COM	744320102	2,371	30,400	SH		SOLE		0	30,400	0
Quad/Graphics, Inc. cl A	CLA	747301109	14	448	SH		SOLE		0	448	0
Questcor Pharmaceuticals Inc.	COM	74835Y101	23	394	SH		SOLE		0	394	0
R.R. Donnelley & Sons	COM	257867101	1,055	66,870	SH		SOLE		0	66,870	0
Rackspace Hosting Inc	COM	750086100	1,506	28,550	SH		SOLE		0	28,550	0
Raytheon Company	COM	755111507	468	6,072	SH		SOLE		0	6,072	0
Regeneron Pharmaceuticals	COM	75886F107	32	102	SH		SOLE		0	102	0
Responsys, Inc.	COM	761248103	56	3,402	SH		SOLE		0	3,402	0
Rockwell Automation Inc	COM	773903109	250	2,340	SH		SOLE		0	2,340	0
Rockwell Collins Inc	COM	774341101	272	4,010	SH		SOLE		0	4,010	0
Rockwood Holdings, Inc.	COM	774415103	9	133	SH		SOLE		0	133	0
Ryder System Inc.	COM	783549108	9	144	SH		SOLE		0	144	0
Salix Pharmaceuticals Ltd.	COM	795435106	12	180	SH		SOLE		0	180	0
Sapient Corporation	COM	803062108	39	2,513	SH		SOLE		0	2,513	0
Sealed Air Corporation	COM	81211K100	1,342	49,354	SH		SOLE		0	49,354	0
Selective Insurance Group	COM	816300107	10	389	SH		SOLE		0	389	0
Sinclair Broadcast Group	COM	829226109	11	328	SH		SOLE		0	328	0
SPDR Consumer Discretionary	ETF	81369Y407	12	196	SH		SOLE		0	196	0
SPDR Financial Select	ETF	81369Y605	11	528	SH		SOLE		0	528	0
SPDR Health Care Select Sector	ETF	81369Y209	12	229	SH		SOLE		0	229	0
SPDR S&P 500 ETF Trust	ETF	78462F103	11	65	SH		SOLE		0	65	0
SPDR S&P MidCap 400 ETF	ETF	78467Y107	17	77	SH		SOLE		0	77	0
SPDR Select Technology	ETF	81369Y803	10	319	SH		SOLE		0	319	0
St. Jude Medical Inc.	COM	790849103	1,435	26,750	SH		SOLE		0	26,750	0
Starbucks Corporation	COM	855244109	523	6,790	SH		SOLE		0	6,790	0
State Street Corp	COM	857477103	1,643	24,990	SH		SOLE		0	24,990	0
Stone Energy Corporation	COM	861642106	60	1,845	SH		SOLE		0	1,845	0
Stratasys, Ltd.	COM	M85548101	51	503	SH		SOLE		0	503	0
Sunoco Logistics Part LP	MLP	86764L108	10	151	SH		SOLE		0	151	0
SunPower Corp	COM	867652406	30	1,146	SH		SOLE		0	1,146	0
SVB Financial Group	COM	78486Q101	391	4,530	SH		SOLE		0	4,530	0
Targa Resources Corp.	COM	87612G101	10	141	SH		SOLE		0	141	0
TD Ameritrade Hldg Corp	COM	87236Y108	356	13,580	SH		SOLE		0	13,580	0
Teekay Corporation	COM	Y8564W103	10	233	SH		SOLE		0	233	0
Tesco Corporation	COM	88157K101	40	2,401	SH		SOLE		0	2,401	0
Tesla Motors, Inc.	COM	88160R101	2,791	14,431	SH		SOLE		0	14,431	0
TESSCO Technologies, Inc.	COM	872386107	20	596	SH		SOLE		0	596	0
Texas Instruments, Inc.	COM	882508104	492	12,210	SH		SOLE		0	12,210	0
The Wendy's Company	COM	95058W100	1,912	225,527	SH		SOLE		0	225,527	0
Thor Industries Inc.	COM	885160101	969	16,690	SH		SOLE		0	16,690	0
Tupperware Brands Corp.	COM	899896104	9	109	SH		SOLE		0	109	0
Tyson Foods Inc	COM	902494103	1,574	55,660	SH		SOLE		0	55,660	0
United States Oil Fund LP	MLP	91232N108	20	547	SH		SOLE		0	547	0
UnitedHealth Group, Inc.	COM	91324P102	510	7,120	SH		SOLE		0	7,120	0
Universal Health Services	COM	913903100	1,329	17,720	SH		SOLE		0	17,720	0
V.F. Corporation	COM	918204108	406	2,040	SH		SOLE		0	2,040	0
W&T Offshore Inc.	COM	92922P106	10	560	SH		SOLE		0	560	0
Wageworks Inc	COM	930427109	55	1,085	SH		SOLE		0	1,085	0
Washington Post cl B	COM	939640108	1,259	2,060	SH		SOLE		0	2,060	0
WellPoint, Inc.	COM	94973V107	429	5,130	SH		SOLE		0	5,130	0
Western Digital Corp.	COM	958102105	1,190	18,770	SH		SOLE		0	18,770	0
Whirlpool Corporation	COM	963320106	11	77	SH		SOLE		0	77	0
Whole Foods Market Inc.	COM	966837106	1,570	26,830	SH		SOLE		0	26,830	0
Worthington Industries	COM	981811102	9	271	SH		SOLE		0	271	0
Xerox Corporation	COM	984121103	9	894	SH		SOLE		0	894	0
Xilinx Inc.	COM	983919101	400	8,538	SH		SOLE		0	8,538	0
Yahoo! Inc.	COM	984332106	1,645	49,579	SH		SOLE		0	49,579	0
Zoltek Companies Inc	COM	98975W104	31	1,856	SH		SOLE		0	1,856	0