Piedmont Investment Advisors 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
3M CO COM	Common	88579Y101	101,159	714	SH		DFND	0	0	714	0
ABBVIE INC	Common	00287Y109	6,290,641	108,910	SH		DFND	0	0	108,910	0
ACCENTURE PLC IRELAND SHS CLASS A	Common	G1151C101	31,714	390	SH		DFND	0	0	390	0
ADT CORPORATION	Common	00101J106	2,003,419	56,498	SH		DFND	0	0	56,498	0
ADVANCE AUTO PARTS INC.	Common	00751Y106	24,357,500	186,934	SH		DFND	0	0	186,934	0
AETNA INC NEW COM	Common	00817Y108	50,402,412	622,252	SH		DFND	0	0	622,252	0
AFLAC INC COM	Common	001055102	119,296	2,048	SH		DFND	0	0	2,048	0
AGILENT TECHNOLOGIES COM	Common	00846U101	43,019	755	SH		DFND	0	0	755	0
AGL RESOURCES INC	Common	001204106	3,341,104	65,078	SH		DFND	0	0	65,078	0
AKORN INC.	Common	009728106	1,450	40	SH		DFND	0	0	40	0
ALCOA INC COM	Common	013817101	28,488,921	1,770,598	SH		DFND	0	0	1,770,598	0
ALLISON TRANSMISSION HOLDINGS INC	Common	01973R101	21,580,548	757,478	SH		DFND	0	0	757,478	0
ALLSTATE CORP COM	Common	020002101	44,560,450	726,095	SH		DFND	0	0	726,095	0
ALTISOURCE PORTFOLIO SOLUTIONS	Common	L0175J104	2,822	28	SH		DFND	0	0	28	0
ALTRIA GROUP INC COM	Common	02209S103	5,285,121	115,044	SH		DFND	0	0	115,044	0
AMAZON COM INC COM	Common	023135106	42,607,544	132,141	SH		DFND	0	0	132,141	0
AMERICAN ELECTRIC POWER CO INC	Common	025537101	1,296,896	24,840	SH		DFND	0	0	24,840	0
AMERICAN EQTY INVT LIFE HLD CO COM	Common	025676206	2,288	100	SH		DFND	0	0	100	0
AMERICAN EXPRESS CO COM	Common	025816109	1,181,614	13,498	SH		DFND	0	0	13,498	0
AMERICAN INTL GROUP INC COM NEW	Common	026874784	2,375,637	43,977	SH		DFND	0	0	43,977	0
AMERIPRISE FINL INC COM	Common	03076C106	24,922	202	SH		DFND	0	0	202	0
AMGEN INC COM	Common	031162100	43,402	309	SH		DFND	0	0	309	0
AMSURG CORP.	Common	03232P405	2,652	53	SH		DFND	0	0	53	0
AMTRUST FINANCIAL SERVICES INC.	Common	032359309	318	8	SH		DFND	0	0	8	0
APARTMENT INVT & MGMT CL A	Common	03748R101	2,741,293	86,150	SH		DFND	0	0	86,150	0
APPLE INC COM	Common	037833100	77,417,509	768,412	SH		DFND	0	0	768,412	0
ARCHER DANIELS MIDLAND CO COM	Common	039483102	2,951,536	57,760	SH		DFND	0	0	57,760	0
ASPEN TECHNOLOGY INC	Common	045327103	1,093	29	SH		DFND	0	0	29	0
AT&T INC COM	Common	00206R102	100,398	2,849	SH		DFND	0	0	2,849	0
AUTOMATIC DATA PROCESS COM	Common	053015103	74,356	895	SH		DFND	0	0	895	0
AUXILIUM PHARMACEUTICALS INC.	Common	05334D107	2,417	81	SH		DFND	0	0	81	0
AXIS CAPITAL HOLDINGS LTD.	Common	G0692U109	757	16	SH		DFND	0	0	16	0
BAKER HUGHES INC COM	Common	057224107	4,090,777	62,877	SH		DFND	0	0	62,877	0
BANK OF AMERICA CORPORATION COM	Common	060505104	1,995,327	117,028	SH		DFND	0	0	117,028	0
BANK OF NEW YORK MELLON CORP COM	Common	064058100	2,371,825	61,240	SH		DFND	0	0	61,240	0
BARNES & NOBLE INC.	Common	067774109	1,144	58	SH		DFND	0	0	58	0
BAXTER INTL INC COM	Common	071813109	51,459	717	SH		DFND	0	0	717	0
BEST BUY INC COM	Common	086516101	52,266	1,556	SH		DFND	0	0	1,556	0
BIOGEN IDEC INC COM	Common	09062X103	37,067,922	112,052	SH		DFND	0	0	112,052	0
BLOCK H & R INC COM	Common	093671105	77,493	2,499	SH		DFND	0	0	2,499	0
BLUCORA INC COM	Common	095229100	1,264	83	SH		DFND	0	0	83	0
BOEING CO COM	Common	097023105	44,119,336	346,360	SH		DFND	0	0	346,360	0
BOSTON PRIVATE FINANCIAL HOLDING	Common	101119105	2,552	206	SH		DFND	0	0	206	0
BRISTOL MYERS SQUIBB CO COM	Common	110122108	70,014	1,368	SH		DFND	0	0	1,368	0
BROADCOM CORP CL A	Common	111320107	104,970	2,597	SH		DFND	0	0	2,597	0
BROCADE COMMUNICATION SYSTEMS INC	Common	111621306	2,065	190	SH		DFND	0	0	190	0
BRUKER CORP COM	Common	116794108	518	28	SH		DFND	0	0	28	0
Burger King Worldwide Inc.	Common	121220107	889	30	SH		DFND	0	0	30	0
CA INC COM	Common	12673P105	3,313,963	118,610	SH		DFND	0	0	118,610	0
CADENCE DESIGN SYSTEMS INC.	Common	127387108	1,376	80	SH		DFND	0	0	80	0
CALIFORNIA WATER SERVICE GROUP	Common	130788102	2,423	108	SH		DFND	0	0	108	0
CAMBREX CORP	Common	132011107	1,307	70	SH		DFND	0	0	70	0
CAMERON INTERNATIONAL CORP COM	Common	13342B105	2,736,249	41,221	SH		DFND	0	0	41,221	0
CAPITAL ONE FINL CORP COM	Common	14040H105	47,660,774	583,935	SH		DFND	0	0	583,935	0
CARDTRONICS INC COM	Common	14161H108	2,358	67	SH		DFND	0	0	67	0
CATERPILLAR INC DEL COM	Common	149123101	96,851	978	SH		DFND	0	0	978	0
CBRE Group Inc	Common	12504L109	2,395,259	80,540	SH		DFND	0	0	80,540	0
CENTENE CORP	Common	15135B101	3,391	41	SH		DFND	0	0	41	0
CF INDS HLDGS INC COM	Common	125269100	4,700,110	16,833	SH		DFND	0	0	16,833	0
CHARLES RIVER LABORATORIES INT'L INC	Common	159864107	1,135	19	SH		DFND	0	0	19	0
CHATHAM LODGING TR COM	Common	16208T102	2,446	106	SH		DFND	0	0	106	0
CHESAPEAKE LODGING TR SH BEN INT	Common	165240102	1,807	62	SH		DFND	0	0	62	0
CHEVRON CORP NEW COM	Common	166764100	3,241,208	27,164	SH		DFND	0	0	27,164	0
CIGNA CORP COM	Common	125509109	4,039,151	44,538	SH		DFND	0	0	44,538	0
CISCO SYS INC COM	Common	17275R102	6,422,150	255,151	SH		DFND	0	0	255,151	0
CITIGROUP INC COM	Common	172967424	3,988,740	76,973	SH		DFND	0	0	76,973	0
COCA COLA CO COM	Common	191216100	106,394	2,494	SH		DFND	0	0	2,494	0
COCA COLA ENTERPRISES INC NEW COM	Common	19122T109	73,238	1,651	SH		DFND	0	0	1,651	0
COMCAST CORP NEW CL A	Common	20030N101	5,528,691	102,802	SH		DFND	0	0	102,802	0
COMPUTER SCIENCES CORP COM	Common	205363104	1,084,556	17,736	SH		DFND	0	0	17,736	0
CONAGRA FOODS INC COM	Common	205887102	1,202,854	36,406	SH		DFND	0	0	36,406	0
CONSOLIDATED EDISON COM	Common	209115104	2,079,705	36,705	SH		DFND	0	0	36,705	0
CONSTELLATION BRANDS CL A	Common	21036P108	2,485,367	28,515	SH		DFND	0	0	28,515	0
COUSINS PROPERTIES INC.	Common	222795106	1,852	155	SH		DFND	0	0	155	0
COVANCE INC.	Common	222816100	1,810	23	SH		DFND	0	0	23	0
CROCS INC COM	Common	227046109	3,484	277	SH		DFND	0	0	277	0
CSX CORP COM	Common	126408103	95,634	2,983	SH		DFND	0	0	2,983	0
CVS HEALTH CORPORATION	Common	126650100	55,738,070	700,315	SH		DFND	0	0	700,315	0
DELTA AIR LINES DEL COM	Common	247361702	3,656,102	101,137	SH		DFND	0	0	101,137	0
DELUXE CORP COM	Common	248019101	1,048	19	SH		DFND	0	0	19	0
DISCOVER FINL SVCS COM	Common	254709108	50,014,674	776,746	SH		DFND	0	0	776,746	0
DISNEY WALT CO COM DISNEY	Common	254687106	5,307,790	59,618	SH		DFND	0	0	59,618	0
DOW CHEM CO COM	Common	260543103	70,741	1,349	SH		DFND	0	0	1,349	0
DR PEPPER SNAPPLE GROUP INC COM	Common	26138E109	4,147,416	64,491	SH		DFND	0	0	64,491	0
DST SYS INC DEL COM	Common	233326107	923	11	SH		DFND	0	0	11	0
DUKE ENERGY CORP NEW COM NEW	Common	26441C204	40,918,106	547,253	SH		DFND	0	0	547,253	0
E M C CORP MASS COM	Common	268648102	4,858,710	166,053	SH		DFND	0	0	166,053	0
EATON CORP PLC	Common	G29183103	56,272	888	SH		DFND	0	0	888	0
ELECTRONICS FOR IMAGING INC.	Common	286082102	3,003	68	SH		DFND	0	0	68	0
EMERSON ELEC CO COM	Common	291011104	87,924	1,405	SH		DFND	0	0	1,405	0
ENDO INTL PLC	Common	G30401106	1,708	25	SH		DFND	0	0	25	0
ENTERGY CORP NEW COM	Common	29364G103	3,591,437	46,443	SH		DFND	0	0	46,443	0
EOG RES INC COM	Common	26875P101	40,371,147	407,707	SH		DFND	0	0	407,707	0
EXELON CORP COM	Common	30161N101	3,078,156	90,295	SH		DFND	0	0	90,295	0
EXPEDIA INC DEL COM	Common	30212P303	2,980,569	34,017	SH		DFND	0	0	34,017	0
EXXON MOBIL CORP COM	Common	30231G102	1,855,794	19,732	SH		DFND	0	0	19,732	0
FACEBOOK INC	Common	30303M102	44,237,186	559,681	SH		DFND	0	0	559,681	0
FEDERAL SIGNAL CORP.	Common	313855108	2,158	163	SH		DFND	0	0	163	0
FIFTH THIRD BANCORP COM	Common	316773100	1,998,076	99,804	SH		DFND	0	0	99,804	0
FINANCIAL ENGINES INC COM	Common	317485100	1,300	38	SH		DFND	0	0	38	0
FIRST COMMONWEALTH FINANCIAL CORP. (PENNSY	Common	319829107	2,298	274	SH		DFND	0	0	274	0
FIRST NIAGARA FINCL GROUP INC	Common	33582V108	1,857	223	SH		DFND	0	0	223	0
FIRST SOLAR INC.	Common	336433107	23,428	356	SH		DFND	0	0	356	0
FLUOR CORP NEW COM	Common	343412102	21,522,543	322,242	SH		DFND	0	0	322,242	0
FMC TECHNOLOGIES INC	Common	30249U101	3,675,212	67,671	SH		DFND	0	0	67,671	0
FNB CORP PA COM	Common	302520101	2,433	203	SH		DFND	0	0	203	0
FOOT LOCKER INC COM	Common	344849104	1,669	30	SH		DFND	0	0	30	0
FORD MTR CO DEL COM PAR $0.01	Common	345370860	1,623,291	109,756	SH		DFND	0	0	109,756	0
FORUM ENERGY TECHNOLOGIES INC COM	Common	34984V100	1,438	47	SH		DFND	0	0	47	0
FRANKLIN RES INC COM	Common	354613101	31,928,883	584,671	SH		DFND	0	0	584,671	0
FREEPORT-MCMORAN, INC.	Common	35671D857	1,290,752	39,533	SH		DFND	0	0	39,533	0
GAMESTOP CORP NEW CL A	Common	36467W109	26,862	652	SH		DFND	0	0	652	0
GAP INC DEL COM	Common	364760108	1,766,280	42,367	SH		DFND	0	0	42,367	0
GARMIN LTD.	Common	H2906T109	4,218,572	81,142	SH		DFND	0	0	81,142	0
GENERAL DYNAMICS CORP COM	Common	369550108	29,484	232	SH		DFND	0	0	232	0
GENERAL GROWTH PPTYS INC NEW COM	Common	370023103	4,169,456	177,047	SH		DFND	0	0	177,047	0
GENERAL MLS INC COM	Common	370334104	79,206	1,570	SH		DFND	0	0	1,570	0
GENERAL MTRS CORP COM	Common	37045V100	23,381,421	732,042	SH		DFND	0	0	732,042	0
GENTEX CORP	Common	371901109	1,097	41	SH		DFND	0	0	41	0
GENUINE PARTS CO	Common	372460105	62,624	714	SH		DFND	0	0	714	0
GENWORTH FINL INC COM CL A	Common	37247D106	19,584	1,495	SH		DFND	0	0	1,495	0
GIBRALTOR INDUSTRIES INC	Common	374689107	752	55	SH		DFND	0	0	55	0
GILEAD SCIENCES INC COM	Common	375558103	11,381,208	106,916	SH		DFND	0	0	106,916	0
GOLDMAN SACHS GROUP INC COM	Common	38141G104	2,928,675	15,954	SH		DFND	0	0	15,954	0
GOOGLE INC. - CLASS A	Common	38259P508	60,726,265	103,204	SH		DFND	0	0	103,204	0
GRAND CANYON EDUCATION INC.	Common	38526M106	3,139	77	SH		DFND	0	0	77	0
GREENBRIER COMPANY	Common	393657101	2,861	39	SH		DFND	0	0	39	0
HALLIBURTON CO COM	Common	406216101	32,257,451	500,038	SH		DFND	0	0	500,038	0
HARTFORD FINL SVCS GROUP INC COM	Common	416515104	81,652	2,192	SH		DFND	0	0	2,192	0
HASBRO INC	Common	418056107	73,363	1,334	SH		DFND	0	0	1,334	0
HCP INC COM	Common	40414L109	958,758	24,144	SH		DFND	0	0	24,144	0
HEALTHSOUTH CORP.	Common	421924309	1,808	49	SH		DFND	0	0	49	0
HEARTLAND PAYMENT SYSTEMS INC.	Common	42235N108	811	17	SH		DFND	0	0	17	0
HECLA MINING CO	Common	422704106	1,240	500	SH		DFND	0	0	500	0
HELMERICH & PAYNE INC	Common	423452101	3,487,499	35,634	SH		DFND	0	0	35,634	0
HESS CORP COM	Common	42809H107	30,523,932	323,621	SH		DFND	0	0	323,621	0
HEWLETT PACKARD CO COM	Common	428236103	25,857	729	SH		DFND	0	0	729	0
HFF INC CL A	Common	40418F108	2,258	78	SH		DFND	0	0	78	0
HOME DEPOT INC COM	Common	437076102	7,158,288	78,028	SH		DFND	0	0	78,028	0
HOME LN SERVICING SOLUTIONS LT ORD SHS	Common	G6648D109	1,737	82	SH		DFND	0	0	82	0
HOSPIRA	Common	441060100	1,140,185	21,914	SH		DFND	0	0	21,914	0
HOST HOTEL & RESORT INC	Common	44107P104	3,613,600	169,414	SH		DFND	0	0	169,414	0
HUMANA INC COM	Common	444859102	4,579,432	35,148	SH		DFND	0	0	35,148	0
HUNTINGTON BANCSHARES INC	Common	446150104	1,570,791	161,438	SH		DFND	0	0	161,438	0
Hyster-Yale Materials Handling Inc	Common	449172105	1,790	25	SH		DFND	0	0	25	0
IDEX CORP	Common	45167R104	1,157	16	SH		DFND	0	0	16	0
ILLINOIS TOOL WKS INC COM	Common	452308109	1,663,496	19,705	SH		DFND	0	0	19,705	0
INSIGHT ENTERPRISES INC	Common	45765U103	1,991	88	SH		DFND	0	0	88	0
INTEL CORP COM	Common	458140100	6,975,003	200,316	SH		DFND	0	0	200,316	0
INTERNATIONAL BUSINESS MACHS COM	Common	459200101	219,443	1,156	SH		DFND	0	0	1,156	0
INTERVAL LEISURE GROUP INC.	Common	46113M108	1,466	77	SH		DFND	0	0	77	0
INTL PAPER CO COM	Common	460146103	1,150,056	24,090	SH		DFND	0	0	24,090	0
INVESCO MORTGAGE CAPITAL INC.	Common	46131B100	880	56	SH		DFND	0	0	56	0
ION GEOPHYSICAL CORP	Common	462044108	1,607	576	SH		DFND	0	0	576	0
IPC THE HOSPITALIST CO. INC.	Common	44984A105	1,836	41	SH		DFND	0	0	41	0
J2 GLOBAL COMMUNICATIONS	Common	48123V102	2,418	49	SH		DFND	0	0	49	0
JABIL CIRCUIT INC COM	Common	466313103	1,190	59	SH		DFND	0	0	59	0
JACK HENRY & ASSOCIATES INC.	Common	426281101	1,781	32	SH		DFND	0	0	32	0
JANUS CAPITAL CORP INC	Common	47102X105	1,483	102	SH		DFND	0	0	102	0
JETBLUE AIRWAYS CORP	Common	477143101	2,400	226	SH		DFND	0	0	226	0
JOHNSON & JOHNSON COM	Common	478160104	11,343,734	106,424	SH		DFND	0	0	106,424	0
JOY GLOBAL INC COM	Common	481165108	1,336,448	24,504	SH		DFND	0	0	24,504	0
JPMORGAN CHASE & CO COM	Common	46625H100	5,482,442	91,010	SH		DFND	0	0	91,010	0
KB HOME COM	Common	48666K109	3,466	232	SH		DFND	0	0	232	0
KELLOGG CO COM	Common	487836108	23,100	375	SH		DFND	0	0	375	0
KEYCORP NEW COM	Common	493267108	1,288,104	96,632	SH		DFND	0	0	96,632	0
KIMBERLY CLARK CORP COM	Common	494368103	1,550,621	14,415	SH		DFND	0	0	14,415	0
KROGER CO COM	Common	501044101	51,463,204	989,677	SH		DFND	0	0	989,677	0
L-3 COMMUNICATIONS HLDGS INC COM	Common	502424104	3,737,893	31,432	SH		DFND	0	0	31,432	0
LA Z BOY INC COM	Common	505336107	1,642	83	SH		DFND	0	0	83	0
LAM RESEARCH CORP COM	Common	512807108	25,442,969	340,602	SH		DFND	0	0	340,602	0
LANNETT CO. INC.	Common	516012101	2,603	57	SH		DFND	0	0	57	0
LEGGETT & PLATT INC	Common	524660107	95,995	2,749	SH		DFND	0	0	2,749	0
LEXMARK INTL NEW CL A	Common	529771107	892	21	SH		DFND	0	0	21	0
LILLY ELI & CO COM	Common	532457108	5,510,563	84,974	SH		DFND	0	0	84,974	0
LKQ CORP.	Common	501889208	159	6	SH		DFND	0	0	6	0
LOCKHEED MARTIN CORP COM	Common	539830109	5,584,842	30,555	SH		DFND	0	0	30,555	0
LYONDELLBASELL INDUSTRIES	Common	N53745100	39,761,845	365,929	SH		DFND	0	0	365,929	0
MACYS INC COM	Common	55616P104	4,261,452	73,246	SH		DFND	0	0	73,246	0
MAGELLAN HEALTH, INC	Common	559079207	711	13	SH		DFND	0	0	13	0
MALLINCKRODT PLC	Common	G5785G107	2,253	25	SH		DFND	0	0	25	0
MANHATTAN ASSOCIATES INC.	Common	562750109	2,339	70	SH		DFND	0	0	70	0
MARATHON PETROLEUM CORP	Common	56585A102	1,609,407	19,008	SH		DFND	0	0	19,008	0
MARRIOTT INTL INC NEW CL A	Common	571903202	3,982,342	56,972	SH		DFND	0	0	56,972	0
Marriott Vacations Worldwide	Common	57164Y107	2,155	34	SH		DFND	0	0	34	0
MARSH & MCLENNAN COS COM	Common	571748102	99,498	1,901	SH		DFND	0	0	1,901	0
MASTERCARD INC CL A	Common	57636Q104	40,206,048	543,913	SH		DFND	0	0	543,913	0
MBIA INC COM	Common	55262C100	1,597	174	SH		DFND	0	0	174	0
MCDONALDS CORP COM	Common	580135101	93,293	984	SH		DFND	0	0	984	0
MCKESSON CORP COM	Common	58155Q103	41,464	213	SH		DFND	0	0	213	0
MEDTRONIC INC COM	Common	585055106	1,624,205	26,218	SH		DFND	0	0	26,218	0
MERCK & CO INC NEW COM	Common	58933Y105	42,740	721	SH		DFND	0	0	721	0
Meritor Inc	Common	59001K100	2,104	194	SH		DFND	0	0	194	0
METTLER TOLEDO INTERNATIONAL COM	Common	592688105	512	2	SH		DFND	0	0	2	0
MICHAEL KORS	Common	G60754101	3,310,425	46,371	SH		DFND	0	0	46,371	0
MICRON TECHNOLOGY INC COM	Common	595112103	101,238	2,955	SH		DFND	0	0	2,955	0
MICROSOFT CORP COM	Common	594918104	66,193,596	1,427,817	SH		DFND	0	0	1,427,817	0
MOLSON COORS BREWING CO CL B	Common	60871R209	1,268,606	17,042	SH		DFND	0	0	17,042	0
MONSTER BEVERAGE CORPORATION	Common	611740101	40,813,592	445,223	SH		DFND	0	0	445,223	0
MONTPELIER RE HOLDINGS LTD.	Common	G62185106	4,259	137	SH		DFND	0	0	137	0
MORGAN STANLEY COM NEW	Common	617446448	1,272,141	36,799	SH		DFND	0	0	36,799	0
MYLAN INC COM	Common	628530107	28,849,166	634,187	SH		DFND	0	0	634,187	0
MYRIAD GENETICS INC	Common	62855J104	1,928	50	SH		DFND	0	0	50	0
NABORS INDUSTRIES LTD SHS	Common	G6359F103	20,115,970	883,830	SH		DFND	0	0	883,830	0
NATIONAL FUEL GAS CO.	Common	636180101	909	13	SH		DFND	0	0	13	0
NATIONAL OILWELL VARCO INC COM	Common	637071101	3,600,823	47,317	SH		DFND	0	0	47,317	0
NETWORK APPLIANCE INC COM	Common	64110D104	32,348	753	SH		DFND	0	0	753	0
NEUSTAR INC. (CL A)	Common	64126X201	620	25	SH		DFND	0	0	25	0
NEW JERSEY RESOURCES CORP	Common	646025106	2,373	47	SH		DFND	0	0	47	0
NORTEK INC COM NEW	Common	656559309	2,235	30	SH		DFND	0	0	30	0
NORTHROP GRUMMAN CORP COM	Common	666807102	4,455,991	33,819	SH		DFND	0	0	33,819	0
NVIDIA CORP COM	Common	67066G104	3,721,531	201,709	SH		DFND	0	0	201,709	0
OCCIDENTAL PETE CORP DEL COM	Common	674599105	102,784	1,069	SH		DFND	0	0	1,069	0
OFFICE DEPOT INC	Common	676220106	277	54	SH		DFND	0	0	54	0
OLD DOMINION FREIGHT LINE INC.	Common	679580100	2,119	30	SH		DFND	0	0	30	0
OMNICOM GROUP INC COM	Common	681919106	73,542	1,068	SH		DFND	0	0	1,068	0
ON ASSIGNMENT INC.	Common	682159108	1,127	42	SH		DFND	0	0	42	0
ORACLE CORP COM	Common	68389X105	40,583,996	1,060,188	SH		DFND	0	0	1,060,188	0
ORMAT TECHNOLOGIES INC.	Common	686688102	1,208	46	SH		DFND	0	0	46	0
OTTER TAIL CORP	Common	689648103	2,213	83	SH		DFND	0	0	83	0
PACKAGING CORP OF AMERICA	Common	695156109	1,786	28	SH		DFND	0	0	28	0
Palo Alto Networks Inc	Common	697435105	19,316,282	196,904	SH		DFND	0	0	196,904	0
PAREXEL INTERNATIONAL CORP	Common	699462107	4,921	78	SH		DFND	0	0	78	0
PATTERSON UTI ENERGY INC COM	Common	703481101	1,106	34	SH		DFND	0	0	34	0
PAYCHEX INC COM	Common	704326107	84,864	1,920	SH		DFND	0	0	1,920	0
PDL BIOPHARMA INC.	Common	69329Y104	1,426	191	SH		DFND	0	0	191	0
PENN VA CORP COM	Common	707882106	1,194	94	SH		DFND	0	0	94	0
PENNANTPARK INVESTMENT CORP.	Common	708062104	512	47	SH		DFND	0	0	47	0
PENNEY J C INC COM	Common	708160106	1,877	187	SH		DFND	0	0	187	0
PENNYMAC MORTGAGE INVESTMENT TRUST	Common	70931T103	1,650	77	SH		DFND	0	0	77	0
PEPSICO INC COM	Common	713448108	99,792	1,072	SH		DFND	0	0	1,072	0
PERKINELMER INC COM	Common	714046109	1,686,273	38,676	SH		DFND	0	0	38,676	0
PFIZER INC COM	Common	717081103	59,162,887	2,000,774	SH		DFND	0	0	2,000,774	0
PHILLIPS 66	Common	718546104	57,892	712	SH		DFND	0	0	712	0
PIPER JAFFRAY COS.	Common	724078100	2,455	47	SH		DFND	0	0	47	0
POPULAR INC.	Common	733174700	20,099,159	682,832	SH		DFND	0	0	682,832	0
PPL CORP COM	Common	69351T106	985,561	30,011	SH		DFND	0	0	30,011	0
PRECISION CASTPARTS CORP	Common	740189105	28,070,280	118,500	SH		DFND	0	0	118,500	0
PRICE T ROWE GROUP INC COM	Common	74144T108	98,470	1,256	SH		DFND	0	0	1,256	0
PRICELINE COM INC COM NEW	Common	741503403	24,872,395	21,468	SH		DFND	0	0	21,468	0
PROCTER & GAMBLE CO COM	Common	742718109	89,853	1,073	SH		DFND	0	0	1,073	0
PROGRESS SOFTWARE CORP.	Common	743312100	2,343	98	SH		DFND	0	0	98	0
PROGRESSIVE CORP OHIO COM	Common	743315103	1,050,687	41,562	SH		DFND	0	0	41,562	0
PROTO LABS INC COM	Common	743713109	1,518	22	SH		DFND	0	0	22	0
PTC Inc.	Common	69370C100	1,881	51	SH		DFND	0	0	51	0
PUBLIC STORAGE COM	Common	74460D109	2,804,520	16,911	SH		DFND	0	0	16,911	0
QLOGIC CORP COM	Common	747277101	1,960	214	SH		DFND	0	0	214	0
QUALCOMM INC COM	Common	747525103	3,495,796	46,754	SH		DFND	0	0	46,754	0
QUEST DIAGNOSTICS INC COM	Common	74834L100	4,064,225	66,978	SH		DFND	0	0	66,978	0
RAYTHEON CO COM NEW	Common	755111507	4,517,618	44,456	SH		DFND	0	0	44,456	0
REGIONS FINANCIAL CORP	Common	7591EP100	1,753,777	174,679	SH		DFND	0	0	174,679	0
REPUBLIC SERVICES INC	Common	760759100	1,024,509	26,256	SH		DFND	0	0	26,256	0
RESOURCE CAPITAL CORP.	Common	76120W302	2,045	420	SH		DFND	0	0	420	0
RPC INC.	Common	749660106	1,910	87	SH		DFND	0	0	87	0
Sabra Healthcare REIT Inc.	Common	78573L106	2,067	85	SH		DFND	0	0	85	0
SAFEWAY INC COM NEW	Common	786514208	24,661	719	SH		DFND	0	0	719	0
SCANA CORP NEW COM	Common	80589M102	309,119	6,231	SH		DFND	0	0	6,231	0
SCHLUMBERGER LTD COM	Common	806857108	174,805	1,719	SH		DFND	0	0	1,719	0
SEAGATE TECHNOLOGY INC.	Common	G7945M107	66,490	1,161	SH		DFND	0	0	1,161	0
SILICON LABORATORIES INC.	Common	826919102	284	7	SH		DFND	0	0	7	0
SKECHERS U S A INC CL A	Common	830566105	4,104	77	SH		DFND	0	0	77	0
SKYWEST INC.	Common	830879102	1,244	160	SH		DFND	0	0	160	0
SNAP ON INC COM	Common	833034101	2,586,268	21,360	SH		DFND	0	0	21,360	0
SOUTHWEST AIRLS CO COM	Common	844741108	24,279,751	718,974	SH		DFND	0	0	718,974	0
Spirit Airlines Inc	Common	848577102	5,254	76	SH		DFND	0	0	76	0
STARBUCKS CORP COM	Common	855244109	45,297,204	600,281	SH		DFND	0	0	600,281	0
STARWOOD HOTELS & RESORTS WORLDWIDE INC	Common	85590A401	29,292,416	352,030	SH		DFND	0	0	352,030	0
STILLWATER MINING CO.	Common	86074Q102	1,878	125	SH		DFND	0	0	125	0
SUNSTONE HOTEL INVS INC NEW COM	Common	867892101	1,630	118	SH		DFND	0	0	118	0
SUPERVALU INC COM	Common	868536103	2,386	267	SH		DFND	0	0	267	0
SWIFT TRANSPORTATION CO INC	Common	87074U101	1,867	89	SH		DFND	0	0	89	0
SYMANTEC CORP COM	Common	871503108	4,231,588	179,991	SH		DFND	0	0	179,991	0
SYNAPTICS INC COM	Common	87157D109	1,244	17	SH		DFND	0	0	17	0
SYNNEX CORP	Common	87162W100	3,748	58	SH		DFND	0	0	58	0
SYNOPSYS INC COM	Common	871607107	1,984	50	SH		DFND	0	0	50	0
SYSCO CORP COM	Common	871829107	60,985	1,607	SH		DFND	0	0	1,607	0
TARGET CORP COM	Common	87612E106	77,660	1,239	SH		DFND	0	0	1,239	0
TD AMERITRADE HOLDING CORP.	Common	87236Y108	26,247,607	786,563	SH		DFND	0	0	786,563	0
TENNECO AUTOMOTIVE INC COM	Common	880349105	1,569	30	SH		DFND	0	0	30	0
TEREX CORP	Common	880779103	17,199,197	541,366	SH		DFND	0	0	541,366	0
TESCO CORP COM	Common	88157K101	2,461	124	SH		DFND	0	0	124	0
TETRA TECH INC NEW COM	Common	88162G103	2,173	87	SH		DFND	0	0	87	0
TEXAS INSTRS INC COM	Common	882508104	75,874	1,591	SH		DFND	0	0	1,591	0
TEXTRON INC COM	Common	883203101	96,525	2,682	SH		DFND	0	0	2,682	0
TJX COS INC NEW COM	Common	872540109	4,108,528	69,436	SH		DFND	0	0	69,436	0
TOMPKINTRUSTCO INC	Common	890110109	2,115	48	SH		DFND	0	0	48	0
TRAVELERS COMPANIES INC COM	Common	89417E109	1,995,755	21,245	SH		DFND	0	0	21,245	0
TRIPADVISOR, INC	Common	896945201	21,026	230	SH		DFND	0	0	230	0
TRUSTCO BK CORP N Y COM	Common	898349105	2,150	334	SH		DFND	0	0	334	0
TYSON FOODS INC CL A	Common	902494103	4,319,361	109,712	SH		DFND	0	0	109,712	0
U.S. PHYSICAL THERAPY INC.	Common	90337L108	2,088	59	SH		DFND	0	0	59	0
UBIQUITI NETWORKS INC	Common	90347A100	1,914	51	SH		DFND	0	0	51	0
UNION PAC CORP COM	Common	907818108	5,855,764	54,010	SH		DFND	0	0	54,010	0
UNITED COMMUNITY BANKS INC.	Common	90984P303	2,255	137	SH		DFND	0	0	137	0
UNITED THERAPEUTICS CORP	Common	91307C102	1,415	11	SH		DFND	0	0	11	0
UNITEDHEALTH GROUP INC COM	Common	91324P102	2,793,982	32,394	SH		DFND	0	0	32,394	0
UNUM GROUP COM	Common	91529Y106	986,293	28,688	SH		DFND	0	0	28,688	0
US BANCORP DEL COM NEW	Common	902973304	37,679,292	900,772	SH		DFND	0	0	900,772	0
VALERO ENERGY CORP NEW COM	Common	91913Y100	1,616,349	34,933	SH		DFND	0	0	34,933	0
VECTREN CORP.	Common	92240G101	1,835	46	SH		DFND	0	0	46	0
VERITIV CORP	Common	923454102	1,051	21	SH		DFND	0	0	21	0
VERIZON COMMUNICATIONS INC COM	Common	92343V104	38,199,958	764,152	SH		DFND	0	0	764,152	0
VISTAPRINT LIMITED	Common	N93540107	4,328	79	SH		DFND	0	0	79	0
WADDELL & REED FINANCIAL INC. (CL A)	Common	930059100	1,447	28	SH		DFND	0	0	28	0
WAL MART STORES INC COM	Common	931142103	56,205	735	SH		DFND	0	0	735	0
WASHINGTON FEDERAL INC.	Common	938824109	1,812	89	SH		DFND	0	0	89	0
WELLPOINT INC COM	Common	94973V107	4,638,743	38,779	SH		DFND	0	0	38,779	0
WELLS FARGO & CO NEW COM	Common	949746101	126,199	2,433	SH		DFND	0	0	2,433	0
WENDYS INTL INC COM	Common	95058W100	1,891	229	SH		DFND	0	0	229	0
WESTERN UN CO COM	Common	959802109	3,994,056	249,006	SH		DFND	0	0	249,006	0
WEYERHAEUSER CO COM	Common	962166104	4,137,339	129,860	SH		DFND	0	0	129,860	0
WHITING PETROLEUM CORP	Common	966387102	19,850,706	255,973	SH		DFND	0	0	255,973	0
WILLIAMS-SONOMA INC.	Common	969904101	30,183,237	453,406	SH		DFND	0	0	453,406	0
WISCONSIN ENERGY CORP COM	Common	976657106	95,976	2,232	SH		DFND	0	0	2,232	0
WYNDHAM WORLDWIDE CORP COM	Common	98310W108	1,386,945	17,068	SH		DFND	0	0	17,068	0
XEROX CORP COM	Common	984121103	24,845	1,878	SH		DFND	0	0	1,878	0
XL GROUP PLC SHS	Common	G98290102	37,880	1,142	SH		DFND	0	0	1,142	0
ISHARES FLOATING	Common	46429B655	10,166	200	SH		DFND	0	0	200	0
ISHARES INTERM CR BD ETF	Common	464288638	26,234	240	SH		DFND	0	0	240	0
ISHARES INTERMEDIATE	Common	464288612	82,687	750	SH		DFND	0	0	750	0