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	1,789	15,538	SH		SOLE	0	10,438	0	5,100
ABB LTD	COM	000375204	1,538	75,452	SH		SOLE	0	75,452	0	0
AMBEV SA	COM	02319V103	569	102,182	SH		SOLE	0	26,282	0	75,900
ACCENTURE PLC	COM	G1151C101	10,729	104,064	SH		SOLE	0	84,064	0	20,000
AERCAP HOLDINGS NV	COM	N00985106	2,778	60,101	SH		SOLE	0	33,580	0	26,521
ALMOST FAMILY INC	COM	020409108	552	11,407	SH		SOLE	0	7	0	11,400
ALLIANCE FIBER OPTIC PRODUCT	COM	018680306	411	21,722	SH		SOLE	0	10	0	21,712
AMTRUST FINANCIAL SERVICES	COM	032359309	481	7,225	SH		SOLE	0	7,225	0	0
ARGAN INC	COM	04010E109	632	16,065	SH		SOLE	0	8	0	16,057
ARMADA HOFFLER PROPERTIES	COM	04208T108	634	62,785	SH		SOLE	0	33	0	62,752
AMETEK INC	COM	031100100	419	7,612	SH		SOLE	0	7,612	0	0
ARMANINO FOODS DISTINCTION	COM	042166801	552	239,844	SH		SOLE	0	0	0	239,844
ALLIED MOTION TECHNOLOGIES	COM	019330109	505	26,256	SH		SOLE	0	9	0	26,247
AMSURG CORP	COM	03232P405	505	5,972	SH		SOLE	0	5,972	0	0
ANI PHARMACEUTICALS INC	COM	00182C103	513	9,204	SH		SOLE	0	4	0	9,200
AON PLC	COM	G0408V102	1,628	16,131	SH		SOLE	0	16,131	0	0
APOLLO COMMERCIAL RE FIN INC	COM	03762U105	573	33,967	SH		SOLE	0	211	0	33,756
ASSA ABLOY AB	COM	045387107	213	21,300	SH		SOLE	0	21,300	0	0
ADVANCED SEMICON ENGINEERING	COM	00756M404	461	87,980	SH		SOLE	0	40,380	0	47,600
AVAGO TECHNOLOGIES LTD	COM	Y0486S104	2,192	17,783	SH		SOLE	0	17,783	0	0
ALLIED WORLD ASSURANCE CO AG	COM	H01531104	1,658	39,171	SH		SOLE	0	39,171	0	0
AUTOZONE INC	COM	053332102	2,214	3,175	SH		SOLE	0	2,155	0	1,020
BROOKFIELD ASSET MANAGEMENT	COM	112585104	3,906	112,361	SH		SOLE	0	92,261	0	20,100
BAYER MOTOREN WERKE AG	COM	072743206	228	6,800	SH		SOLE	0	6,800	0	0
BIOSYENT INC	COM	090690108	357	66,200	SH		SOLE	0	0	0	66,200
BALL CORP	COM	058498106	1,708	24,643	SH		SOLE	0	16,943	0	7,700
BANK OF MARIN BANCORP	COM	063425102	476	9,928	SH		SOLE	0	4	0	9,924
BRYN MAWR BANK CORP	COM	117665109	504	17,424	SH		SOLE	0	9	0	17,415
BIOSPECIFICS TECHNOLOGIES CP	COM	090931106	613	10,592	SH		SOLE	0	6	0	10,586
BT GROUP PLC	COM	05577E101	1,774	24,300	SH		SOLE	0	24,300	0	0
BRITISH AMER TOBACCO PLC	COM	110448107	1,894	15,967	SH		SOLE	0	15,967	0	0
ANHEUSER-BUSCH INBEV	COM	03524A108	3,805	31,220	SH		SOLE	0	25,720	0	5,500
CHINA BIOLOGIC PRODUCTS INC	COM	16938C106	7,258	59,101	SH		SOLE	0	53,621	0	5,480
CBIZ INC	COM	124805102	590	60,256	SH		SOLE	0	30	0	60,226
CHASE CORP	COM	16150R104	602	15,736	SH		SOLE	0	9	0	15,727
CITY HOLDING CO	COM	177835105	520	10,817	SH		SOLE	0	6	0	10,811
CHEROKEE INC/DE	COM	16444H102	662	23,629	SH		SOLE	0	14	0	23,615
CK HUTCHISON HOLDINGS LTD	COM	12562Y100	1,564	106,671	SH		SOLE	0	65,571	0	41,100
COMPASS GROUP PLC	COM	20449X302	277	17,094	SH		SOLE	0	17,094	0	0
CONRAD INDUSTRIES INC	COM	208305102	394	13,283	SH		SOLE	0	0	0	13,283
CONSTELLATION SOFTWARE INC	COM	21037X100	201	460	SH		SOLE	0	460	0	0
CIPHER PHARMACEUTICALS INC	COM	17253X105	458	49,500	SH		SOLE	0	20	0	49,480
CHESAPEAKE UTILITIES CORP	COM	165303108	600	12,457	SH		SOLE	0	7	0	12,450
CROWN CRAFTS INC	COM	228309100	246	30,567	SH		SOLE	0	22	0	30,545
CISCO SYSTEMS INC	COM	17275R102	409	14,501	SH		SOLE	0	14,501	0	0
COMPUTER SERVICES INC	COM	20539A105	494	11,770	SH		SOLE	0	0	0	11,770
CVS HEALTH CORP	COM	126650100	2,156	19,937	SH		SOLE	0	13,337	0	6,600
DIAMOND HILL INVESTMENT GRP	COM	25264R207	519	2,701	SH		SOLE	0	1	0	2,700
DANAHER CORP	COM	235851102	2,365	25,828	SH		SOLE	0	17,358	0	8,470
DHI GROUP INC	COM	23331S100	548	68,005	SH		SOLE	0	35	0	67,970
DAITO TRUST CONSTRUCTION CO	COM	23405X209	260	9,700	SH		SOLE	0	9,700	0	0
DISNEY (WALT) CO	COM	254687106	2,092	19,273	SH		SOLE	0	12,943	0	6,330
DELPHI AUTOMOTIVE PLC	COM	G27823106	7,605	98,290	SH		SOLE	0	82,390	0	15,900
DELUXE CORP	COM	248019101	437	6,853	SH		SOLE	0	6,853	0	0
DUN & BRADSTREET CORP	COM	26483E100	420	3,613	SH		SOLE	0	3,613	0	0
AMDOCS LTD	COM	G02602103	4,189	72,096	SH		SOLE	0	58,396	0	13,700
DTS INC	COM	23335C101	510	17,309	SH		SOLE	0	9	0	17,300
DAIWA HOUSE INDUSTRY CO	COM	234062206	235	9,300	SH		SOLE	0	9,300	0	0
ECOLAB INC	COM	278865100	407	3,500	SH		SOLE	0	3,500	0	0
EQUIFAX INC	COM	294429105	2,265	22,135	SH		SOLE	0	14,835	0	7,300
ENGHOUSE SYSTEMS LTD	COM	292949104	502	12,200	SH		SOLE	0	0	0	12,200
CREDIT AGRICOLE EGYPT	COM	6169518	37	11,800	SH		SOLE	0	11,800	0	0
EASYHOME LTD	COM	277855102	416	28,500	SH		SOLE	0	0	0	28,500
EMC INSURANCE GROUP INC	COM	268664109	476	19,570	SH		SOLE	0	10	0	19,560
ENAGAS SA	COM	29248L104	166	11,800	SH		SOLE	0	11,800	0	0
ENSIGN GROUP INC	COM	29358P101	425	8,873	SH		SOLE	0	73	0	8,800
ENZON PHARMACEUTICALS INC	COM	293904108	575	416,564	SH		SOLE	0	164	0	416,400
EPIQ SYSTEMS INC	COM	26882D109	388	26,189	SH		SOLE	0	14	0	26,175
ESCALADE INC	COM	296056104	633	34,747	SH		SOLE	0	18	0	34,729
EXPRESS SCRIPTS HOLDING CO	COM	30219G108	2,194	24,572	SH		SOLE	0	16,372	0	8,200
EVERYDAY HEALTH INC	COM	300415106	557	46,859	SH		SOLE	0	22	0	46,837
FACTSET RESEARCH SYSTEMS INC	COM	303075105	521	3,080	SH		SOLE	0	3,080	0	0
FINANCIAL INSTITUTIONS INC	COM	317585404	524	21,637	SH		SOLE	0	11	0	21,626
FISERV INC	COM	337738108	2,264	26,013	SH		SOLE	0	17,491	0	8,522
FLY LEASING LTD -ADR	COM	34407D109	502	34,856	SH		SOLE	0	356	0	34,500
FRESENIUS MEDICAL CARE AG&CO	COM	358029106	1,890	45,171	SH		SOLE	0	45,171	0	0
FEDERATED NATIONAL HLDG CO	COM	31422T101	498	20,135	SH		SOLE	0	11	0	20,124
FONAR CORP	COM	344437405	436	44,319	SH		SOLE	0	19	0	44,300
FRESENIUS SE & CO KGAA	COM	35804M105	390	22,150	SH		SOLE	0	22,150	0	0
FIRST WEST VIRGINIA BANCORP	COM	337493100	432	20,803	SH		SOLE	0	10	0	20,793
GOLUB CAPITAL BDC INC	COM	38173M102	449	27,010	SH		SOLE	0	11	0	26,999
GENERAL DYNAMICS CORP	COM	369550108	2,103	14,072	SH		SOLE	0	9,462	0	4,610
CGI GROUP INC -CL A	COM	39945C109	3,657	95,941	SH		SOLE	0	78,541	0	17,400
GILEAD SCIENCES INC	COM	375558103	2,253	19,541	SH		SOLE	0	13,191	0	6,350
GLOBANT SA	COM	L44385109	524	16,490	SH		SOLE	0	9	0	16,481
GP STRATEGIES CORP	COM	36225V104	490	19,318	SH		SOLE	0	9	0	19,309
GREAT SOUTHERN BANCORP	COM	390905107	464	11,106	SH		SOLE	0	6	0	11,100
GRAY TELEVISION INC	COM	389375106	497	34,310	SH		SOLE	0	229	0	34,081
HCI GROUP INC	COM	40416E103	572	13,949	SH		SOLE	0	129	0	13,820
HACKETT GROUP INC	COM	404609109	803	64,724	SH		SOLE	0	41	0	64,683
HDFC BANK LTD	COM	40415F101	634	10,130	SH		SOLE	0	2,630	0	7,500
HENKEL AG & CO KGAA	COM	42550U109	332	3,200	SH		SOLE	0	3,200	0	0
HINGHAM INSTN FOR SAVINGS	COM	433323102	640	5,503	SH		SOLE	0	3	0	5,500
Nobilis Health Corp	COM	65500B103	557	94,537	SH		SOLE	0	37	0	94,500
HUANENG POWER INTERNATIONAL	COM	443304100	1,618	34,156	SH		SOLE	0	34,156	0	0
HONEYWELL INTERNATIONAL INC	COM	438516106	476	4,500	SH		SOLE	0	4,500	0	0
HARRIS CORP	COM	413875105	431	5,200	SH		SOLE	0	5,200	0	0
HERITAGE INSURANCE HOLDINGS	COM	42727J102	512	24,312	SH		SOLE	0	12	0	24,300
SCHEIN (HENRY) INC	COM	806407102	422	2,911	SH		SOLE	0	2,911	0	0
HESKA CORP	COM	42805E306	636	18,809	SH		SOLE	0	9	0	18,800
INDUSTRIAS BACHOCO SAB DE CV	COM	456463108	2,025	35,460	SH		SOLE	0	35,460	0	0
ICON plc	COM	G4705A100	2,090	25,746	SH		SOLE	0	25,746	0	0
INDUSTRIAL & COMM BANKCHINA	COM	455807107	191	13,900	SH		SOLE	0	13,900	0	0
INFUSYSTEM HOLDINGS INC	COM	45685K102	524	166,916	SH		SOLE	0	86	0	166,830
INFOSYS LTD	COM	456788108	651	37,623	SH		SOLE	0	9,623	0	28,000
GARTNER INC	COM	366651107	460	5,120	SH		SOLE	0	5,120	0	0
ITV PLC	COM	45069P107	219	5,200	SH		SOLE	0	5,200	0	0
HENRY (JACK) & ASSOCIATES	COM	426281101	441	6,324	SH		SOLE	0	6,324	0	0
JUMEI INTL HOLDING LTD -ADR	COM	48138L107	1,118	59,900	SH		SOLE	0	38,200	0	21,700
JOHNSON & JOHNSON	COM	478160104	1,914	19,323	SH		SOLE	0	12,973	0	6,350
KADANT INC	COM	48282T104	608	13,012	SH		SOLE	0	7	0	13,005
KFORCE INC	COM	493732101	619	22,111	SH		SOLE	0	12	0	22,099
MULTI-COLOR CORP	COM	625383104	543	8,363	SH		SOLE	0	57	0	8,306
LANDMARK BANCORP INC/KS	COM	51504L107	595	21,443	SH		SOLE	0	9	0	21,434
LAZARD LTD	COM	G54050102	413	7,701	SH		SOLE	0	7,701	0	0
LHC GROUP INC	COM	50187A107	784	16,808	SH		SOLE	0	8	0	16,800
LIONBRIDGE TECHNOLOGIES INC	COM	536252109	559	92,452	SH		SOLE	0	52	0	92,400
LAKELAND FINANCIAL CORP	COM	511656100	501	11,734	SH		SOLE	0	5	0	11,729
LYONDELLBASELL INDUSTRIES NV	COM	N53745100	4,661	51,687	SH		SOLE	0	38,907	0	12,780
MASTERCARD INC	COM	57636Q104	2,385	24,545	SH		SOLE	0	16,545	0	8,000
MOODY`S CORP	COM	615369105	1,890	17,133	SH		SOLE	0	11,733	0	5,400
MEDTRONIC PLC	COM	G5960L103	1,797	23,218	SH		SOLE	0	15,818	0	7,400
MCGRAW HILL FINANCIAL	COM	580645109	392	3,900	SH		SOLE	0	3,900	0	0
MESA LABORATORIES INC	COM	59064R109	722	6,041	SH		SOLE	0	3	0	6,038
MIND CTI LTD	COM	M70240102	509	172,577	SH		SOLE	0	77	0	172,500
MARKIT LTD	COM	G58249106	1,874	70,373	SH		SOLE	0	70,373	0	0
MAINSOURCE FINL GROUP INC	COM	56062Y102	555	25,112	SH		SOLE	0	12	0	25,100
MICROSOFT CORP	COM	594918104	1,934	41,483	SH		SOLE	0	28,523	0	12,960
MITSUBISHI UFJ FINANCIAL GRP	COM	606822104	1,453	204,300	SH		SOLE	0	204,300	0	0
NATURAL HEALTH TRENDS CORP	COM	63888P406	611	20,464	SH		SOLE	0	10	0	20,454
NAUTILUS INC	COM	63910B102	404	24,412	SH		SOLE	0	12	0	24,400
NORWEGIAN FINANS HLD ASA	COM	BNH7Q17	1,455	354,163	SH		SOLE	0	232,420	0	121,743
NEENAH PAPER INC	COM	640079109	436	7,184	SH		SOLE	0	4	0	7,180
NATIONAL PRESTO INDS INC	COM	637215104	519	6,403	SH		SOLE	0	3	0	6,400
NATIONAL SEC GROUP INC	COM	637546102	477	33,463	SH		SOLE	0	16	0	33,447
NESTLE SA/AG	COM	641069406	295	3,941	SH		SOLE	0	3,941	0	0
NETEASE INC	COM	64110W102	1,112	7,618	SH		SOLE	0	4,418	0	3,200
NIPPON TELEGRAPH & TELEPHONE	COM	654624105	2,197	55,488	SH		SOLE	0	55,488	0	0
NV5 HOLDINGS INC	COM	62945V109	621	26,213	SH		SOLE	0	13	0	26,200
NOVA LIFESTYLE INC	COM	66979P102	577	235,361	SH		SOLE	0	61	0	235,300
NOVA MEASURING INSTRUMENTS	COM	M7516K103	438	37,023	SH		SOLE	0	23	0	37,000
NOVO NORDISK A/S	COM	670100205	2,116	36,653	SH		SOLE	0	36,653	0	0
NOVARTIS AG	COM	66987V109	2,173	21,236	SH		SOLE	0	21,236	0	0
NEW YORK MORTGAGE TRUST INC	COM	649604501	917	129,137	SH		SOLE	0	50,838	0	78,299
OMNICOM GROUP	COM	681919106	2,199	30,429	SH		SOLE	0	20,409	0	10,020
ORACLE CORP	COM	68389X105	358	9,111	SH		SOLE	0	9,111	0	0
PEPSICO INC	COM	713448108	2,087	21,050	SH		SOLE	0	14,230	0	6,820
PETMED EXPRESS INC	COM	716382106	456	27,614	SH		SOLE	0	14	0	27,600
PFIZER INC	COM	717081103	2,067	58,762	SH		SOLE	0	39,472	0	19,290
DOUGLAS DYNAMICS INC	COM	25960R105	699	30,651	SH		SOLE	0	251	0	30,400
EPLUS INC	COM	294268107	587	7,504	SH		SOLE	0	4	0	7,500
PARTNERRE LTD	COM	G6852T105	497	3,600	SH		SOLE	0	3,600	0	0
PERFICIENT INC	COM	71375U101	530	31,917	SH		SOLE	0	17	0	31,900
PRUDENTIAL PLC	COM	74435K204	272	5,700	SH		SOLE	0	5,700	0	0
PENNS WOODS BANCORP INC	COM	708430103	387	9,075	SH		SOLE	0	5	0	9,070
PZENA INVESTMENT MANAGEMENT	COM	74731Q103	547	51,618	SH		SOLE	0	18	0	51,600
QATAR ELECT & WATER	COM	6566614	1,303	21,700	SH		SOLE	0	13,500	0	8,200
QUALCOMM INC	COM	747525103	321	5,100	SH		SOLE	0	5,100	0	0
RECKITT BENCKISER GROUP PLC	COM	756255204	235	12,000	SH		SOLE	0	12,000	0	0
RCM TECHNOLOGIES INC	COM	749360400	395	79,591	SH		SOLE	0	41	0	79,550
DR REDDY`S LABORATORIES LTD	COM	256135203	3,463	52,067	SH		SOLE	0	44,467	0	7,600
EVEREST RE GROUP LTD	COM	G3223R108	2,234	12,139	SH		SOLE	0	8,079	0	4,060
REIS INC	COM	75936P105	554	22,523	SH		SOLE	0	11	0	22,512
RELX NV	COM	75955B102	1,808	110,975	SH		SOLE	0	110,975	0	0
REX AMERICAN RESOURCES CORP	COM	761624105	517	10,005	SH		SOLE	0	5	0	10,000
REPLIGEN CORP	COM	759916109	404	11,218	SH		SOLE	0	7	0	11,211
RADIANT LOGISTICS INC	COM	75025X100	494	79,995	SH		SOLE	0	51	0	79,944
ROPER TECHNOLOGIES INC	COM	776696106	2,222	13,311	SH		SOLE	0	8,911	0	4,400
RPX CORP	COM	74972G103	548	36,322	SH		SOLE	0	222	0	36,100
RAND WORLDWIDE INC	COM	752246108	535	254,977	SH		SOLE	0	0	0	254,977
SAFRAN SA	COM	786584102	239	12,400	SH		SOLE	0	12,400	0	0
SAP SE	COM	803054204	5,456	75,501	SH		SOLE	0	60,780	0	14,721
SOUTHSIDE BANCSHARES INC	COM	84470P109	507	18,348	SH		SOLE	0	9	0	18,339
SCICLONE PHARMACEUTICALS INC	COM	80862K104	657	74,336	SH		SOLE	0	36	0	74,300
SCOR SE	COM	80917Q106	210	53,000	SH		SOLE	0	53,000	0	0
STONEGATE BANK/FL	COM	861811107	525	17,109	SH		SOLE	0	9	0	17,100
SUPERIOR UNIFORM GROUP INC	COM	868358102	520	29,821	SH		SOLE	0	15	0	29,806
SILICON MOTION TECH -ADR	COM	82706C108	887	36,538	SH		SOLE	0	23,438	0	13,100
SKY PLC	COM	83084V106	2,144	31,321	SH		SOLE	0	31,321	0	0
SL INDUSTRIES INC	COM	784413106	486	12,458	SH		SOLE	0	6	0	12,452
SNAM SPA	COM	78460A106	152	15,400	SH		SOLE	0	15,400	0	0
SMITH & NEPHEW PLC	COM	83175M205	212	5,750	SH		SOLE	0	5,750	0	0
SYNOPSYS INC	COM	871607107	2,379	46,577	SH		SOLE	0	31,277	0	15,300
SANOFI	COM	80105N105	202	3,700	SH		SOLE	0	3,700	0	0
SIMON PROPERTY GROUP INC	COM	828806109	2,296	12,088	SH		SOLE	0	8,088	0	4,000
SILICONWARE PRECISION INDS	COM	827084864	775	145,718	SH		SOLE	0	91,818	0	53,900
SENSATA TECHNOLOGIES HLDG NV	COM	N7902X106	10,429	204,094	SH		SOLE	0	164,974	0	39,120
STRATTEC SECURITY CORP	COM	863111100	504	7,385	SH		SOLE	0	4	0	7,381
STOCK YARDS BANCORP INC	COM	861025104	571	15,508	SH		SOLE	0	8	0	15,500
TARO PHARMACEUTICL INDS LTD	COM	M8737E108	7,505	54,134	SH		SOLE	0	45,264	0	8,870
TRICO BANCSHARES	COM	896095106	453	18,321	SH		SOLE	0	9	0	18,312
TE CONNECTIVITY LTD	COM	H84989104	7,097	115,159	SH		SOLE	0	96,715	0	18,444
TEVA PHARMACEUTICALS	COM	881624209	11,687	165,941	SH		SOLE	0	134,159	0	31,782
TEGNA INC	COM	87901J105	1,334	50,553	SH		SOLE	0	30,053	0	20,500
TOYOTA MOTOR CORP	COM	892331307	2,511	19,493	SH		SOLE	0	19,493	0	0
TENAGA NASIONAL BHD	COM	880277108	164	14,000	SH		SOLE	0	14,000	0	0
TAIWAN SEMICONDUCTOR MFG CO	COM	874039100	4,338	203,871	SH		SOLE	0	155,471	0	48,400
TOTAL SYSTEM SERVICES INC	COM	891906109	418	8,937	SH		SOLE	0	8,937	0	0
TEXAS INSTRUMENTS INC	COM	882508104	362	7,200	SH		SOLE	0	7,200	0	0
NET 1 UEPS TECHNOLOGIES INC	COM	64107N206	3,171	158,148	SH		SOLE	0	104,158	0	53,990
UGI CORP	COM	902681105	401	11,466	SH		SOLE	0	11,466	0	0
UNILEVER PLC	COM	904767704	2,084	45,369	SH		SOLE	0	45,369	0	0
UNITED MICROELECTRONICS CORP	COM	910873405	29	16,500	SH		SOLE	0	16,500	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	2,413	19,776	SH		SOLE	0	13,286	0	6,490
U S PHYSICAL THERAPY INC	COM	90337L108	695	13,715	SH		SOLE	0	8	0	13,707
UTAH MEDICAL PRODUCTS INC	COM	917488108	443	8,260	SH		SOLE	0	4	0	8,256
UNIVERSAL INSURANCE HLDGS	COM	91359V107	741	26,198	SH		SOLE	0	373	0	25,825
VISA INC	COM	92826C839	412	5,601	SH		SOLE	0	5,601	0	0
VINCI SA	COM	927320101	194	12,000	SH		SOLE	0	12,000	0	0
VERISK ANALYTICS INC	COM	92345Y106	2,195	28,661	SH		SOLE	0	19,151	0	9,510
VERIZON COMMUNICATIONS INC	COM	92343V104	359	7,700	SH		SOLE	0	7,700	0	0
WABCO HOLDINGS INC	COM	92927K102	8,400	68,345	SH		SOLE	0	56,945	0	11,400
WESTWOOD HOLDINGS GROUP INC	COM	961765104	515	8,646	SH		SOLE	0	4	0	8,642
WINMARK CORP	COM	974250102	720	7,100	SH		SOLE	0	4	0	7,096
WIPRO LTD	COM	97651M109	548	43,790	SH		SOLE	0	11,690	0	32,100
WNS (HOLDINGS) LTD -ADR	COM	92932M101	700	23,428	SH		SOLE	0	5,928	0	17,500
WPP PLC	COM	92937A102	1,892	16,745	SH		SOLE	0	16,745	0	0
WSFS FINANCIAL CORP	COM	929328102	528	18,609	SH		SOLE	0	9	0	18,600
WAYSIDE TECHNOLOGY GROUP INC	COM	946760105	539	30,424	SH		SOLE	0	16	0	30,408
WEST BANCORPORATION INC	COM	95123P106	542	27,925	SH		SOLE	0	15	0	27,910
WOLTERS KLUWER NV	COM	977874205	384	11,607	SH		SOLE	0	11,607	0	0
EXXON MOBIL CORP	COM	30231G102	351	4,500	SH		SOLE	0	4,500	0	0
XERIUM TECHNOLOGIES INC	COM	98416J118	479	30,155	SH		SOLE	0	15	0	30,140
ZAGG INC	COM	98884U108	472	60,634	SH		SOLE	0	34	0	60,600
ZURICH INSURANCE GROUP AG	COM	989825104	236	8,150	SH		SOLE	0	8,150	0	0