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

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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
American Airlines Group Inc.	COM	02376R102	427	20,147	SH		SOLE		0	20,147	0
Acadia Healthcare Company Inc	COM	00404A109	21	342	SH		SOLE		0	342	0
Alliance Data Systems Corp	COM	018581108	431	4,140	SH		SOLE		0	4,140	0
AES Corporation	COM	00130H105	75	2,893	SH		SOLE		0	2,893	0
Albemarle Corporation	COM	012653101	20	119	SH		SOLE		0	119	0
Align Technology Inc	COM	016255101	20	33	SH		SOLE		0	33	0
Allstate Corporation	COM	020002101	422	3,232	SH		SOLE		0	3,232	0
Applied Materials Inc.	COM	038222105	490	3,442	SH		SOLE		0	3,442	0
Apellis Pharmaceuticals, Inc.	COM	03753U106	6	101	SH		SOLE		0	101	0
Athene Holding Ltd	COM	G0684D107	14	209	SH		SOLE		0	209	0
Allegheny Technologies, Inc.	COM	01741R102	624	29,922	SH		SOLE		0	29,922	0
Avnet Inc	COM	053807103	431	10,749	SH		SOLE		0	10,749	0
Armstrong World Industries	COM	04247X102	60	561	SH		SOLE		0	561	0
Axos Financial, Inc.	COM	05465C100	67	1,447	SH		SOLE		0	1,447	0
Acuity Brands, Inc.	COM	00508Y102	528	2,825	SH		SOLE		0	2,825	0
Bed Bath & Beyond Inc	COM	075896100	511	15,348	SH		SOLE		0	15,348	0
Big Lots Inc	COM	089302103	562	8,508	SH		SOLE		0	8,508	0
Brookdale Senior Living Inc.	COM	112463104	8	977	SH		SOLE		0	977	0
Builders FirstSource, Inc.	COM	12008R107	7	159	SH		SOLE		0	159	0
Bloomin' Brands, Inc.	COM	094235108	6	228	SH		SOLE		0	228	0
DMC Global Inc.	COM	23291C103	62	1,095	SH		SOLE		0	1,095	0
Box Inc.	COM	10316T104	6	253	SH		SOLE		0	253	0
Peabody Energy Corp	COM	704551100	6	715	SH		SOLE		0	715	0
Carrier Global Corp	COM	14448C104	20	412	SH		SOLE		0	412	0
CareDx, Inc.	COM	14167L103	9	95	SH		SOLE		0	95	0
CIT Group Inc.	COM	125581801	573	11,098	SH		SOLE		0	11,098	0
Commercial Metals Co	COM	201723103	435	14,168	SH		SOLE		0	14,168	0
Cohu, Inc.	COM	192576106	6	151	SH		SOLE		0	151	0
Coca-Cola Consolidated, Inc.	COM	191098102	55	136	SH		SOLE		0	136	0
Mr. Cooper Group Inc.	COM	62482R107	8	245	SH		SOLE		0	245	0
Capri Holdings Ltd.	COM	G1890L107	27	474	SH		SOLE		0	474	0
Camping World Holdings, Inc.	COM	13462K109	7	164	SH		SOLE		0	164	0
CryoPort, Inc.	COM	229050307	8	121	SH		SOLE		0	121	0
Designer Brands Inc.	COM	250565108	65	3,950	SH		SOLE		0	3,950	0
3D Systems Corp	COM	88554D205	8	208	SH		SOLE		0	208	0
Dillards Inc cl A	COM	254067101	11	60	SH		SOLE		0	60	0
Deere & Company	COM	244199105	618	1,753	SH		SOLE		0	1,753	0
Dell Technologies Inc. Cl C	CLA	24703L202	73	731	SH		SOLE		0	731	0
DOMO, INC	COM	257554105	9	112	SH		SOLE		0	112	0
iShares Select Dividend ETF	ETF	464287168	44	375	SH		SOLE		0	375	0
DXC Technology	COM	23355L106	461	11,840	SH		SOLE		0	11,840	0
Eventbrite Inc. Cl A	CLA	29975E109	5	263	SH		SOLE		0	263	0
E.L.F. Beauty, Inc.	COM	26856L103	7	273	SH		SOLE		0	273	0
iShares JPM USD Emrg Mkt Bd Fd	ETF	464288281	34	298	SH		SOLE		0	298	0
Entegris Inc	COM	29362U104	769	6,250	SH		SOLE		0	6,250	0
Edgewell Personal Care Company	COM	28035Q102	6	131	SH		SOLE		0	131	0
Invesco Russell 1000 EW	ETF	46138E420	691	15,120	SH		SOLE		0	15,120	0
Evolent Health, Inc. Cl A	COM	30050B101	614	29,078	SH		SOLE		0	29,078	0
Evercore Partners, Inc.	COM	29977A105	22	156	SH		SOLE		0	156	0
East West Bancorp, Inc.	COM	27579R104	550	7,671	SH		SOLE		0	7,671	0
Diamondback Energy, Inc.	COM	25278X109	23	250	SH		SOLE		0	250	0
Fortune Brands Hm & Sec.	COM	34964C106	19	194	SH		SOLE		0	194	0
Freeport-McMoRan Inc.	COM	35671D857	802	21,610	SH		SOLE		0	21,610	0
FedEx Corp	COM	31428X106	493	1,653	SH		SOLE		0	1,653	0
Fortinet, Inc.	COM	34959E109	20	86	SH		SOLE		0	86	0
General Electric Company	COM	369604103	514	38,174	SH		SOLE		0	38,174	0
Generac Holdings Inc.	COM	368736104	632	1,522	SH		SOLE		0	1,522	0
Alphabet Inc. Class C	COM	02079K107	20	8	SH		SOLE		0	8	0
Goodyear Tire & Rubber	COM	382550101	53	3,072	SH		SOLE		0	3,072	0
Great Western Bancorp, Inc.	COM	391416104	65	1,984	SH		SOLE		0	1,984	0
Hibbett Sports, Inc.	COM	428567101	10	109	SH		SOLE		0	109	0
At Home Group Inc.	COM	04650Y100	10	263	SH		SOLE		0	263	0
Horizon Therapeutics PLC	COM	G46188101	13	134	SH		SOLE		0	134	0
iShares Nasdaq Biotech ETF	ETF	464287556	2,921	17,847	SH		SOLE		0	17,847	0
Ichor Holdings	COM	G4740B105	6	108	SH		SOLE		0	108	0
iShares North Amer Tech-Soft	ETF	464287515	1,231	3,156	SH		SOLE		0	3,156	0
II-VI Inc.	COM	902104108	5	62	SH		SOLE		0	62	0
Inogen, Inc	COM	45780L104	605	9,285	SH		SOLE		0	9,285	0
Interpublic Group	COM	460690100	450	13,856	SH		SOLE		0	13,856	0
Invesco Ltd.	COM	G491BT108	21	800	SH		SOLE		0	800	0
SPDR Barclays High Yield Bond	ETF	78464A417	35	318	SH		SOLE		0	318	0
KBR, Inc.	COM	48242W106	419	10,988	SH		SOLE		0	10,988	0
Korn Ferry	COM	500643200	7	95	SH		SOLE		0	95	0
Knoll Inc.	COM	498904200	6	237	SH		SOLE		0	237	0
Kohl's Corporation	COM	500255104	591	10,729	SH		SOLE		0	10,729	0
Kontoor Brands, Inc.	COM	50050N103	7	121	SH		SOLE		0	121	0
Lithia Motors Inc.	COM	536797103	462	1,343	SH		SOLE		0	1,343	0
L Brands, Inc.	COM	501797104	149	2,066	SH		SOLE		0	2,066	0
LGI Homes, Inc.	COM	50187T106	6	35	SH		SOLE		0	35	0
LKQ Corporation	COM	501889208	20	415	SH		SOLE		0	415	0
Lincoln National Corp	COM	534187109	509	8,103	SH		SOLE		0	8,103	0
Lantheus Holdings, Inc.	COM	516544103	8	283	SH		SOLE		0	283	0
iShares iBoxx $ Inves Grd Corp	ETF	464287242	33	245	SH		SOLE		0	245	0
Livent Corp.	COM	53814L108	549	28,360	SH		SOLE		0	28,360	0
Manhattan Associates, Inc.	COM	562750109	84	577	SH		SOLE		0	577	0
Allscripts Healthcare Solution	COM	01988P108	7	360	SH		SOLE		0	360	0
Moderna Inc.	COM	60770K107	923	3,927	SH		SOLE		0	3,927	0
Marathon Oil Corp	COM	565849106	24	1,743	SH		SOLE		0	1,743	0
Matador Resources Company	COM	576485205	672	18,654	SH		SOLE		0	18,654	0
Micron Technology Inc	COM	595112103	22	256	SH		SOLE		0	256	0
Murphy Oil Corp.	COM	626717102	21	922	SH		SOLE		0	922	0
NCR Corporation	COM	62886E108	25	555	SH		SOLE		0	555	0
Cloudflare Inc	COM	18915M107	21	199	SH		SOLE		0	199	0
Natera, Inc.	COM	632307104	8	67	SH		SOLE		0	67	0
Nucor Corporation	COM	670346105	72	746	SH		SOLE		0	746	0
NVIDIA Corp	COM	67066G104	630	788	SH		SOLE		0	788	0
Old Dominion Freight	COM	679580100	13	50	SH		SOLE		0	50	0
Oceaneering International	COM	675232102	10	669	SH		SOLE		0	669	0
Olin Corporation	COM	680665205	27	575	SH		SOLE		0	575	0
Omnicell Inc.	COM	68213N109	8	50	SH		SOLE		0	50	0
Old Republic Int'l Corp	COM	680223104	49	1,965	SH		SOLE		0	1,965	0
Oshkosh Corporation	COM	688239201	48	382	SH		SOLE		0	382	0
Palo Alto Networks, Inc.	COM	697435105	20	55	SH		SOLE		0	55	0
Impinj, Inc.	COM	453204109	6	107	SH		SOLE		0	107	0
Quanta Services Inc.	COM	74762E102	27	301	SH		SOLE		0	301	0
PayPal Holdings, Inc.	COM	70450Y103	24	83	SH		SOLE		0	83	0
Ramco-Gershenson Properties	REIT	74971D101	7	512	SH		SOLE		0	512	0
Invesco S&P 500 Eql Weight	ETF	46137V357	106	703	SH		SOLE		0	703	0
Sabre Corporation	COM	78573M104	352	28,234	SH		SOLE		0	28,234	0
Saia, Inc.	COM	78709Y105	555	2,649	SH		SOLE		0	2,649	0
Sailpoint Tech Holdings, Inc.	COM	78781P105	559	10,945	SH		SOLE		0	10,945	0
Sanmina Corporation	COM	801056102	499	12,813	SH		SOLE		0	12,813	0
Spirit Airlines, Inc.	COM	848577102	5	165	SH		SOLE		0	165	0
Signature Bank	COM	82669G104	21	84	SH		SOLE		0	84	0
Santander Consmer USA Hdng Inc	COM	80283M101	13	365	SH		SOLE		0	365	0
SVB Financial Group	COM	78486Q101	691	1,241	SH		SOLE		0	1,241	0
Six Flags Entertainment Corp.	COM	83001A102	51	1,181	SH		SOLE		0	1,181	0
VanEck Vectors Semiconductor E	ETF	92189F676	2,969	11,322	SH		SOLE		0	11,322	0
Sonos Inc.	COM	83570H108	8	238	SH		SOLE		0	238	0
Spirit Aerosystems Holdings	COM	848574109	23	478	SH		SOLE		0	478	0
SPDR S&P 500 ETF Trust	ETF	78462F103	2,065	4,824	SH		SOLE		0	4,824	0
Square, Inc. Class A	COM	852234103	669	2,744	SH		SOLE		0	2,744	0
Steel Dynamics Inc.	COM	858119100	438	7,347	SH		SOLE		0	7,347	0
Texas Capital Bancshares	COM	88224Q107	55	860	SH		SOLE		0	860	0
Terex Corp.	COM	880779103	8	159	SH		SOLE		0	159	0
Triumph Group Inc.	COM	896818101	7	327	SH		SOLE		0	327	0
Target Corporation	COM	87612E106	660	2,730	SH		SOLE		0	2,730	0
TG Therapeutics, Inc	COM	88322Q108	11	274	SH		SOLE		0	274	0
Tenet Healthcare Corp	COM	88033G407	81	1,213	SH		SOLE		0	1,213	0
Trimble Inc.	COM	896239100	79	963	SH		SOLE		0	963	0
Trupanion, Inc.	COM	898202106	9	77	SH		SOLE		0	77	0
Tesla, Inc.	COM	88160R101	491	723	SH		SOLE		0	723	0
Twilio Inc	COM	90138F102	631	1,601	SH		SOLE		0	1,601	0
United Rentals Inc.	COM	911363109	88	277	SH		SOLE		0	277	0
Vanguard Small-Cap ETF	ETF	922908751	3,999	17,750	SH		SOLE		0	17,750	0
Vanguard Sm Cap Value	ETF	922908611	2,685	15,462	SH		SOLE		0	15,462	0
Vericel Corporation	COM	92346J108	659	12,546	SH		SOLE		0	12,546	0
Vanguard Mid-Cap ETF	ETF	922908629	3,873	16,318	SH		SOLE		0	16,318	0
Vanguard S-T Inflation-Protect	ETF	922020805	5,158	98,407	SH		SOLE		0	98,407	0
Vanguard Large-Cap ETF	ETF	922908637	5	27	SH		SOLE		0	27	0
Vanguard Ext Mkt ETF	ETF	922908652	7	39	SH		SOLE		0	39	0
Western Alliance Bancorp.	COM	957638109	18	199	SH		SOLE		0	199	0
Wells Fargo & Co	COM	949746101	479	10,566	SH		SOLE		0	10,566	0
Cimarex Energy Co	COM	171798101	442	6,105	SH		SOLE		0	6,105	0
SPDR Select Technology	ETF	81369Y803	4	27	SH		SOLE		0	27	0
SPDR Cons Staples Slct	ETF	81369Y308	38	550	SH		SOLE		0	550	0
SPDR Utilities Select	ETF	81369Y886	1,078	17,051	SH		SOLE		0	17,051	0