Ativo Capital Management 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
APPLE INC	COM	037833100	320	2,900	SH		SOLE	0	2,900	0	0
ACE LTD	COM	H0023R105	3,789	32,979	SH		SOLE	0	25,299	0	7,680
ACETO CORP	COM	004446100	498	22,928	SH		SOLE	0	58	0	22,870
ACCENTURE PLC	COM	G1151C101	4,061	45,468	SH		SOLE	0	37,268	0	8,200
AERCAP HOLDINGS NV	COM	N00985106	2,230	57,436	SH		SOLE	0	27,215	0	30,221
ALLIANCE FIBER OPTIC PRODUCT	COM	018680306	463	31,893	SH		SOLE	0	73	0	31,820
ARGAN INC	COM	04010E109	514	15,294	SH		SOLE	0	37	0	15,257
ARMADA HOFFLER PROPERTIES	COM	04208T108	597	62,896	SH		SOLE	0	144	0	62,752
ARMANINO FOODS DISTINCTION	COM	042166801	522	255,944	SH		SOLE	0	0	0	255,944
ALLIED MOTION TECHNOLOGIES	COM	019330109	424	17,897	SH		SOLE	0	50	0	17,847
AMSURG CORP	COM	03232P405	361	6,595	SH		SOLE	0	6,595	0	0
APOLLO COMMERCIAL RE FIN INC	COM	03762U105	445	27,218	SH		SOLE	0	518	0	26,700
ADVANCED SEMICON ENGINEERING	COM	00756M404	578	94,365	SH		SOLE	0	18,465	0	75,900
ABRAXAS PETROLEUM CORP/NV	COM	003830106	389	132,386	SH		SOLE	0	286	0	132,100
AUTOZONE INC	COM	053332102	310	500	SH		SOLE	0	500	0	0
BROOKFIELD ASSET MANAGEMENT	COM	112585104	3,622	72,249	SH		SOLE	0	59,649	0	12,600
BAIDU INC	COM	056752108	1,914	8,395	SH		SOLE	0	6,738	0	1,657
BIOSYENT INC	COM	090690108	565	54,400	SH		SOLE	0	0	0	54,400
BALL CORP	COM	058498106	1,597	23,427	SH		SOLE	0	14,327	0	9,100
BANK OF MONTREAL	COM	063671101	218	3,078	SH		SOLE	0	3,078	0	0
BANK OF MARIN BANCORP	COM	063425102	444	8,444	SH		SOLE	0	20	0	8,424
BRYN MAWR BANK CORP	COM	117665109	515	16,452	SH		SOLE	0	37	0	16,415
BROADRIDGE FINANCIAL SOLUTNS	COM	11133T103	275	5,957	SH		SOLE	0	5,957	0	0
BIOSPECIFICS TECHNOLOGIES CP	COM	090931106	505	13,076	SH		SOLE	0	29	0	13,047
BT GROUP PLC	COM	05577E101	1,544	24,900	SH		SOLE	0	24,900	0	0
BRITISH AMER TOBACCO PLC	COM	110448107	1,857	17,222	SH		SOLE	0	17,222	0	0
ANHEUSER-BUSCH INBEV	COM	03524A108	2,293	20,417	SH		SOLE	0	20,417	0	0
CHINA BIOLOGIC PRODUCTS INC	COM	16938C106	1,499	22,299	SH		SOLE	0	15,895	0	6,404
CBIZ INC	COM	124805102	493	57,558	SH		SOLE	0	132	0	57,426
CHASE CORP	COM	16150R104	567	15,764	SH		SOLE	0	37	0	15,727
CF INDUSTRIES HOLDINGS INC	COM	125269100	300	1,100	SH		SOLE	0	1,100	0	0
CITY HOLDING CO	COM	177835105	504	10,835	SH		SOLE	0	24	0	10,811
CHEUNG KONG (HOLDINGS) LTD	COM	166744201	1,322	78,693	SH		SOLE	0	41,393	0	37,300
CANADIAN IMPERIAL BANK	COM	136069101	1,679	19,540	SH		SOLE	0	19,540	0	0
COMPASS GROUP PLC	COM	20449X302	194	11,294	SH		SOLE	0	11,294	0	0
CONRAD INDUSTRIES INC	COM	208305102	465	13,283	SH		SOLE	0	0	0	13,283
CIPHER PHARMACEUTICALS INC	COM	17253X105	759	53,585	SH		SOLE	0	105	0	53,480
CHESAPEAKE UTILITIES CORP	COM	165303108	644	12,978	SH		SOLE	0	28	0	12,950
COMPUTER SERVICES INC	COM	20539A105	471	11,770	SH		SOLE	0	0	0	11,770
CVS HEALTH CORP	COM	126650100	1,804	18,727	SH		SOLE	0	11,227	0	7,500
CHEVRON CORP	COM	166764100	236	2,100	SH		SOLE	0	2,100	0	0
DANAHER CORP	COM	235851102	1,838	21,439	SH		SOLE	0	12,969	0	8,470
DICE HOLDINGS INC	COM	253017107	682	68,137	SH		SOLE	0	167	0	67,970
DISNEY (WALT) CO	COM	254687106	1,581	16,785	SH		SOLE	0	10,185	0	6,600
DELPHI AUTOMOTIVE PLC	COM	G27823106	1,920	26,409	SH		SOLE	0	26,409	0	0
DELUXE CORP	COM	248019101	593	9,518	SH		SOLE	0	9,518	0	0
DUN & BRADSTREET CORP	COM	26483E100	357	2,952	SH		SOLE	0	2,952	0	0
AMDOCS LTD	COM	G02602103	1,861	39,892	SH		SOLE	0	39,892	0	0
DR PEPPER SNAPPLE GROUP INC	COM	26138E109	1,234	17,212	SH		SOLE	0	10,612	0	6,600
DTE ENERGY CO	COM	233331107	1,571	18,191	SH		SOLE	0	10,691	0	7,500
DTS INC	COM	23335C101	505	16,438	SH		SOLE	0	38	0	16,400
DIRECTV	COM	25490A309	1,636	18,867	SH		SOLE	0	11,627	0	7,240
ECOLAB INC	COM	278865100	1,435	13,728	SH		SOLE	0	8,308	0	5,420
EAGLE BANCORP INC/MD	COM	268948106	481	13,543	SH		SOLE	0	31	0	13,512
ENGHOUSE SYSTEMS LTD	COM	292949104	591	16,500	SH		SOLE	0	0	0	16,500
EASYHOME LTD	COM	277855102	464	26,800	SH		SOLE	0	0	0	26,800
EDISON INTERNATIONAL	COM	281020107	308	4,700	SH		SOLE	0	4,700	0	0
EMC INSURANCE GROUP INC	COM	268664109	463	13,069	SH		SOLE	0	29	0	13,040
ENAGAS SA	COM	29248L104	187	11,800	SH		SOLE	0	11,800	0	0
REED ELSEVIER NV	COM	758204200	2,377	49,892	SH		SOLE	0	49,892	0	0
ENSIGN GROUP INC	COM	29358P101	564	12,707	SH		SOLE	0	207	0	12,500
EPIQ SYSTEMS INC	COM	26882D109	448	26,240	SH		SOLE	0	65	0	26,175
ESCALADE INC	COM	296056104	525	34,807	SH		SOLE	0	78	0	34,729
EXPRESS SCRIPTS HOLDING CO	COM	30219G108	1,393	16,452	SH		SOLE	0	8,452	0	8,000
EVERYDAY HEALTH INC	COM	300415106	312	21,138	SH		SOLE	0	38	0	21,100
FACTSET RESEARCH SYSTEMS INC	COM	303075105	354	2,517	SH		SOLE	0	2,517	0	0
FINANCIAL INSTITUTIONS INC	COM	317585404	429	17,063	SH		SOLE	0	37	0	17,026
FISERV INC	COM	337738108	1,801	25,383	SH		SOLE	0	15,321	0	10,062
FLY LEASING LTD -ADR	COM	34407D109	459	34,924	SH		SOLE	0	424	0	34,500
FEDERATED NATIONAL HLDG CO	COM	31422T101	487	20,171	SH		SOLE	0	47	0	20,124
FORMULA SYSTEMS (1985) LTD	COM	346414105	475	21,493	SH		SOLE	0	48	0	21,445
FRESENIUS SE & CO KGAA	COM	35804M105	194	14,850	SH		SOLE	0	14,850	0	0
GOLUB CAPITAL BDC INC	COM	38173M102	417	23,248	SH		SOLE	0	48	0	23,200
GENERAL DYNAMICS CORP	COM	369550108	1,798	13,066	SH		SOLE	0	8,556	0	4,510
CGI GROUP INC -CL A	COM	39945C109	3,652	95,695	SH		SOLE	0	77,395	0	18,300
GILEAD SCIENCES INC	COM	375558103	1,585	16,816	SH		SOLE	0	10,146	0	6,670
GLOBANT SA	COM	L44385109	454	29,047	SH		SOLE	0	66	0	28,981
GP STRATEGIES CORP	COM	36225V104	602	17,749	SH		SOLE	0	40	0	17,709
GRAY TELEVISION INC	COM	389375106	477	42,593	SH		SOLE	0	93	0	42,500
HCI GROUP INC	COM	40416E103	833	19,269	SH		SOLE	0	5,449	0	13,820
HACKETT GROUP INC	COM	404609109	669	76,157	SH		SOLE	0	174	0	75,983
HDFC BANK LTD	COM	40415F101	737	14,520	SH		SOLE	0	5,620	0	8,900
HENKEL AG & CO KGAA	COM	42550U109	204	2,100	SH		SOLE	0	2,100	0	0
HILL INTERNATIONAL INC	COM	431466101	404	105,222	SH		SOLE	0	242	0	104,980
HANDY & HARMAN LTD	COM	410315105	581	12,621	SH		SOLE	0	33	0	12,588
HUANENG POWER INTERNATIONAL	COM	443304100	1,816	33,521	SH		SOLE	0	33,521	0	0
HOLLYSYS AUTOMATION TECH LTD	COM	G45667105	1,197	49,000	SH		SOLE	0	33,000	0	16,000
HONEYWELL INTERNATIONAL INC	COM	438516106	340	3,400	SH		SOLE	0	3,400	0	0
HARRIS CORP	COM	413875105	323	4,500	SH		SOLE	0	4,500	0	0
SCHEIN (HENRY) INC	COM	806407102	330	2,424	SH		SOLE	0	2,424	0	0
INDUSTRIAL & COMM BANKCHINA	COM	455807107	203	13,900	SH		SOLE	0	13,900	0	0
INGLES MARKETS INC -CL A	COM	457030104	519	13,998	SH		SOLE	0	33	0	13,965
INFUSYSTEM HOLDINGS INC	COM	45685K102	497	157,766	SH		SOLE	0	336	0	157,430
INFOSYS LTD	COM	456788108	705	22,416	SH		SOLE	0	8,616	0	13,800
INTEL CORP	COM	458140100	287	7,900	SH		SOLE	0	7,900	0	0
IRIDIUM COMMUNICATIONS INC	COM	46269C102	399	40,883	SH		SOLE	0	83	0	40,800
INTEGRATED SILICON SOLUTION	COM	45812P107	598	36,085	SH		SOLE	0	85	0	36,000
GARTNER INC	COM	366651107	1,789	21,242	SH		SOLE	0	12,942	0	8,300
ITV PLC	COM	45069P107	225	6,700	SH		SOLE	0	6,700	0	0
JOHNSON & JOHNSON	COM	478160104	1,977	18,902	SH		SOLE	0	12,152	0	6,750
KADANT INC	COM	48282T104	556	13,033	SH		SOLE	0	28	0	13,005
KFORCE INC	COM	493732101	534	22,148	SH		SOLE	0	49	0	22,099
MULTI-COLOR CORP	COM	625383104	600	10,831	SH		SOLE	0	25	0	10,806
LAZARD LTD	COM	G54050102	290	5,800	SH		SOLE	0	5,800	0	0
LIONBRIDGE TECHNOLOGIES INC	COM	536252109	533	92,614	SH		SOLE	0	214	0	92,400
LAKELAND FINANCIAL CORP	COM	511656100	485	11,152	SH		SOLE	0	23	0	11,129
LUCARA DIAMOND CORP	COM	54928Q108	545	288,100	SH		SOLE	0	74,200	0	213,900
LYONDELLBASELL INDUSTRIES NV	COM	N53745100	1,326	16,700	SH		SOLE	0	8,900	0	7,800
MASTERCARD INC	COM	57636Q104	1,749	20,300	SH		SOLE	0	12,300	0	8,000
MAGNETEK INC	COM	559424403	452	11,125	SH		SOLE	0	26	0	11,099
MOODY`S CORP	COM	615369105	1,286	13,424	SH		SOLE	0	8,534	0	4,890
MEDTRONIC INC	COM	585055106	1,705	23,619	SH		SOLE	0	14,419	0	9,200
MAGIC SOFTWARE ENTERPRISES	COM	559166103	266	44,647	SH		SOLE	0	0	0	44,647
MESA LABORATORIES INC	COM	59064R109	468	6,051	SH		SOLE	0	13	0	6,038
3M CO	COM	88579Y101	1,904	11,590	SH		SOLE	0	7,669	0	3,921
MIND CTI LTD	COM	M70240102	459	116,735	SH		SOLE	0	235	0	116,500
MOTORCAR PARTS OF AMER INC	COM	620071100	533	17,128	SH		SOLE	0	41	0	17,087
MARKIT LTD	COM	G58249106	1,856	70,225	SH		SOLE	0	70,225	0	0
MICROSOFT CORP	COM	594918104	1,961	42,209	SH		SOLE	0	27,709	0	14,500
MATRIX SERVICE CO	COM	576853105	450	20,147	SH		SOLE	0	47	0	20,100
NATIONAL GRID	COM	636274300	1,746	24,707	SH		SOLE	0	24,707	0	0
NATURAL HEALTH TRENDS CORP	COM	63888P406	638	55,754	SH		SOLE	0	0	0	55,754
NEENAH PAPER INC	COM	640079109	530	8,801	SH		SOLE	0	21	0	8,780
NATIONAL RESEARCH CORP	COM	637372301	706	19,619	SH		SOLE	0	7,169	0	12,450
NATIONAL SEC GROUP INC	COM	637546102	451	33,528	SH		SOLE	0	81	0	33,447
NESTLE SA/AG	COM	641069406	231	3,140	SH		SOLE	0	3,140	0	0
NETEASE INC	COM	64110W102	607	6,121	SH		SOLE	0	2,921	0	3,200
NIPPON TELEGRAPH & TELEPHONE	COM	654624105	1,761	68,771	SH		SOLE	0	68,771	0	0
NOVA MEASURING INSTRUMENTS	COM	M7516K103	459	44,202	SH		SOLE	0	102	0	44,100
NOVO NORDISK A/S	COM	670100205	1,887	44,590	SH		SOLE	0	44,590	0	0
NOVARTIS AG	COM	66987V109	2,291	24,726	SH		SOLE	0	24,726	0	0
NEW YORK MORTGAGE TRUST INC	COM	649604501	1,157	150,054	SH		SOLE	0	71,755	0	78,299
OMNICOM GROUP	COM	681919106	2,017	26,032	SH		SOLE	0	17,012	0	9,020
ORACLE CORP	COM	68389X105	369	8,210	SH		SOLE	0	8,210	0	0
OPEN TEXT CORP	COM	683715106	2,151	36,926	SH		SOLE	0	36,926	0	0
PEPSICO INC	COM	713448108	1,740	18,397	SH		SOLE	0	12,197	0	6,200
PFIZER INC	COM	717081103	1,513	48,568	SH		SOLE	0	29,278	0	19,290
PACIFIC HEALTH CARE ORG INC	COM	69439P209	491	12,900	SH		SOLE	0	0	0	12,900
PHI INC	COM	69336T205	472	12,612	SH		SOLE	0	28	0	12,584
DOUGLAS DYNAMICS INC	COM	25960R105	653	30,468	SH		SOLE	0	68	0	30,400
EPLUS INC	COM	294268107	569	7,518	SH		SOLE	0	18	0	7,500
PENNANTPARK INVESTMENT CORP	COM	708062104	515	54,049	SH		SOLE	0	54,049	0	0
PENTAIR PLC	COM	G7S00T104	6,674	100,484	SH		SOLE	0	81,670	0	18,814
POINTER TELOCATION LTD	COM	M7946T104	461	56,347	SH		SOLE	0	133	0	56,214
PETROQUEST ENERGY INC	COM	716748108	433	115,654	SH		SOLE	0	254	0	115,400
PARTNERRE LTD	COM	G6852T105	308	2,700	SH		SOLE	0	2,700	0	0
PERFICIENT INC	COM	71375U101	596	31,970	SH		SOLE	0	70	0	31,900
PENNS WOODS BANCORP INC	COM	708430103	448	9,091	SH		SOLE	0	21	0	9,070
QUALCOMM INC	COM	747525103	282	3,800	SH		SOLE	0	3,800	0	0
RECKITT BENCKISER GROUP PLC	COM	756255204	195	12,000	SH		SOLE	0	12,000	0	0
RCM TECHNOLOGIES INC	COM	749360400	502	71,755	SH		SOLE	0	205	0	71,550
ROYAL DUTCH SHELL PLC	COM	780259206	2,181	32,571	SH		SOLE	0	32,571	0	0
DR REDDY`S LABORATORIES LTD	COM	256135203	1,711	33,905	SH		SOLE	0	33,905	0	0
REIS INC	COM	75936P105	591	22,565	SH		SOLE	0	53	0	22,512
REX AMERICAN RESOURCES CORP	COM	761624105	540	8,718	SH		SOLE	0	18	0	8,700
REPLIGEN CORP	COM	759916109	471	23,765	SH		SOLE	0	54	0	23,711
RIVER VALLEY BANCORP	COM	768475105	390	18,425	SH		SOLE	0	44	0	18,381
RADIANT LOGISTICS INC	COM	75025X100	608	143,794	SH		SOLE	0	350	0	143,444
ROPER INDUSTRIES INC/DE	COM	776696106	1,530	9,786	SH		SOLE	0	5,086	0	4,700
RPX CORP	COM	74972G103	432	31,344	SH		SOLE	0	644	0	30,700
RAYTHEON CO	COM	755111507	314	2,900	SH		SOLE	0	2,900	0	0
RAND WORLDWIDE INC	COM	752246108	474	266,477	SH		SOLE	0	0	0	266,477
ROYAL BANK OF CANADA	COM	780087102	1,779	25,751	SH		SOLE	0	25,751	0	0
SAFRAN SA	COM	786584102	192	12,400	SH		SOLE	0	12,400	0	0
SAP SE	COM	803054204	6,861	98,508	SH		SOLE	0	81,587	0	16,921
SAPUTO INC	COM	802912105	205	6,800	SH		SOLE	0	6,800	0	0
SOUTHSIDE BANCSHARES INC	COM	84470P109	506	17,503	SH		SOLE	0	38	0	17,465
SCICLONE PHARMACEUTICALS INC	COM	80862K104	627	71,569	SH		SOLE	0	169	0	71,400
STONEGATE BANK/FL	COM	861811107	365	12,328	SH		SOLE	0	28	0	12,300
SUPERIOR UNIFORM GROUP INC	COM	868358102	660	22,457	SH		SOLE	0	53	0	22,404
SAGE GROUP PLC	COM	78663S201	213	7,319	SH		SOLE	0	7,319	0	0
SHIRE PLC	COM	82481R106	1,802	8,477	SH		SOLE	0	8,477	0	0
SONIC HEALTHCARE LTD	COM	83546A104	168	11,100	SH		SOLE	0	11,100	0	0
SKY PLC	COM	83084V106	1,768	31,523	SH		SOLE	0	31,523	0	0
SL INDUSTRIES INC	COM	784413106	510	13,080	SH		SOLE	0	28	0	13,052
SNAM SPA	COM	78460A106	153	15,400	SH		SOLE	0	15,400	0	0
SMITH & NEPHEW PLC	COM	83175M205	211	5,750	SH		SOLE	0	5,750	0	0
SYNOPSYS INC	COM	871607107	335	7,699	SH		SOLE	0	7,699	0	0
SPECTRUM BRANDS HOLDINGS INC	COM	84763R101	287	3,000	SH		SOLE	0	3,000	0	0
SIMON PROPERTY GROUP INC	COM	828806109	2,057	11,294	SH		SOLE	0	7,294	0	4,000
SILICONWARE PRECISION INDS	COM	827084864	744	98,491	SH		SOLE	0	33,591	0	64,900
SAPIENS INTERNATIONAL CORP	COM	N7716A151	453	61,431	SH		SOLE	0	134	0	61,297
SENSATA TECHNOLOGIES HLDG NV	COM	N7902X106	10,549	201,273	SH		SOLE	0	157,253	0	44,020
STRATTEC SECURITY CORP	COM	863111100	504	6,103	SH		SOLE	0	14	0	6,089
TARO PHARMACEUTICL INDS LTD	COM	M8737E108	8,177	55,178	SH		SOLE	0	45,008	0	10,170
LIBERTY TAX INC	COM	53128T102	547	15,315	SH		SOLE	0	37	0	15,278
TRICO BANCSHARES	COM	896095106	453	18,351	SH		SOLE	0	39	0	18,312
TE CONNECTIVITY LTD	COM	H84989104	8,091	127,915	SH		SOLE	0	104,471	0	23,444
TEVA PHARMACEUTICALS	COM	881624209	10,496	182,503	SH		SOLE	0	140,021	0	42,482
TELIASONERA AB	COM	87960M205	139	10,800	SH		SOLE	0	10,800	0	0
TOYOTA MOTOR CORP	COM	892331307	2,307	18,387	SH		SOLE	0	18,387	0	0
TENAGA NASIONAL BHD	COM	880277108	221	14,000	SH		SOLE	0	14,000	0	0
TOTAL SA	COM	89151E109	1,025	20,020	SH		SOLE	0	20,020	0	0
TRAVELERS COS INC	COM	89417E109	1,279	12,084	SH		SOLE	0	6,184	0	5,900
TAIWAN SEMICONDUCTOR MFG CO	COM	874039100	2,872	128,323	SH		SOLE	0	107,523	0	20,800
TATA MOTORS LTD	COM	876568502	2,189	51,784	SH		SOLE	0	41,784	0	10,000
TEXAS INSTRUMENTS INC	COM	882508104	289	5,400	SH		SOLE	0	5,400	0	0
NET 1 UEPS TECHNOLOGIES INC	COM	64107N206	892	78,233	SH		SOLE	0	11,833	0	66,400
UGI CORP	COM	902681105	595	15,666	SH		SOLE	0	15,666	0	0
UNITED INSURANCE HOLDINGS CO	COM	910710102	680	30,975	SH		SOLE	0	75	0	30,900
UNILEVER PLC	COM	904767704	217	5,370	SH		SOLE	0	5,370	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	1,868	18,482	SH		SOLE	0	10,952	0	7,530
U S PHYSICAL THERAPY INC	COM	90337L108	597	14,240	SH		SOLE	0	33	0	14,207
UNITED THERAPEUTICS CORP	COM	91307C102	367	2,832	SH		SOLE	0	2,832	0	0
UTAH MEDICAL PRODUCTS INC	COM	917488108	443	7,372	SH		SOLE	0	16	0	7,356
UNITED TECHNOLOGIES CORP	COM	913017109	288	2,500	SH		SOLE	0	2,500	0	0
UNIVERSAL INSURANCE HLDGS	COM	91359V107	994	48,594	SH		SOLE	0	12,869	0	35,725
VINCI SA	COM	927320101	165	12,000	SH		SOLE	0	12,000	0	0
VERISK ANALYTICS INC	COM	92345Y106	264	4,115	SH		SOLE	0	4,115	0	0
VSE CORP	COM	918284100	527	7,995	SH		SOLE	0	19	0	7,976
VERIZON COMMUNICATIONS INC	COM	92343V104	273	5,837	SH		SOLE	0	5,837	0	0
WABCO HOLDINGS INC	COM	92927K102	1,911	18,239	SH		SOLE	0	18,239	0	0
WESTERN DIGITAL CORP	COM	958102105	987	8,918	SH		SOLE	0	4,608	0	4,310
WESTWOOD HOLDINGS GROUP INC	COM	961765104	511	8,261	SH		SOLE	0	19	0	8,242
WINMARK CORP	COM	974250102	636	7,313	SH		SOLE	0	17	0	7,296
WIPRO LTD	COM	97651M109	696	61,490	SH		SOLE	0	23,690	0	37,800
WNS (HOLDINGS) LTD -ADR	COM	92932M101	577	27,940	SH		SOLE	0	13,940	0	14,000
WPP PLC	COM	92937A102	2,261	21,724	SH		SOLE	0	21,724	0	0
WORLD ACCEPTANCE CORP/DE	COM	981419104	541	6,815	SH		SOLE	0	15	0	6,800
WSFS FINANCIAL CORP	COM	929328102	478	6,213	SH		SOLE	0	13	0	6,200
WAYSIDE TECHNOLOGY GROUP INC	COM	946760105	524	30,475	SH		SOLE	0	67	0	30,408
WOLTERS KLUWER NV	COM	977874205	1,928	62,866	SH		SOLE	0	41,266	0	21,600
EXXON MOBIL CORP	COM	30231G102	1,943	21,012	SH		SOLE	0	13,712	0	7,300
XERIUM TECHNOLOGIES INC	COM	98416J118	524	33,217	SH		SOLE	0	77	0	33,140