Convergence Investment Partners 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
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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
Abbott Laboratories	COM	002824100	2,510	75,621	SH		SOLE		75,621	0	0
Abbvie Inc	COM	00287y109	424	9,470	SH		SOLE		9,470	0	0
AECOM Technology Corp Delaware	COM	00766t100	1,169	37,390	SH		SOLE		37,390	0	0
Aetna Inc	COM	00817y108	2,560	39,989	SH		SOLE		39,989	0	0
Aflac Inc	COM	001055102	7,270	117,272	SH		SOLE		117,272	0	0
AGCO Corp	COM	001084102	1,265	20,940	SH		SOLE		20,940	0	0
AGL Resources Inc	COM	001204106	2,671	58,037	SH		SOLE		58,037	0	0
Altria Group Inc	COM	02209s103	2,390	69,583	SH		SOLE		69,583	0	0
Amdocs Ltd	ORD	g02602103	880	24,020	SH		SOLE		24,020	0	0
American Electric Power Inc	COM	025537101	677	15,623	SH		SOLE		15,623	0	0
American Equity Inv Life Holdi	COM	025676206	997	46,999	SH		SOLE		46,999	0	0
AmerisourceBergen Corp	COM	03073e105	2,249	36,810	SH		SOLE		36,810	0	0
AmTrust Financial Services Inc	COM	032359309	870	22,317	SH		SOLE		22,317	0	0
Apple Inc	COM	037833100	6,425	13,476	SH		SOLE		13,476	0	0
Applied Micro Circuits Corp	COM NEW	03822w406	140	10,860	SH		SOLE		10,860	0	0
Archer Daniels Midland Co	COM	039483102	2,281	61,908	SH		SOLE		61,908	0	0
Aspen Technology Inc	COM	045327103	748	21,649	SH		SOLE		21,649	0	0
AT&T Inc	COM	00206r102	6,341	187,498	SH		SOLE		187,498	0	0
AVG Technologies NV	SHS	n07831105	851	35,550	SH		SOLE		35,550	0	0
Avis Budget Group	COM	053774105	2,594	89,993	SH		SOLE		89,993	0	0
Babcock & Wilcox Co	COM	05615f102	1,193	35,365	SH		SOLE		35,365	0	0
Bally Technologies Inc	COM	05874b107	1,224	16,981	SH		SOLE		16,981	0	0
Bank Nova Scotia Halifax	COM	064149107	273	4,755	SH		SOLE		4,755	0	0
Bank of America Corporation	COM	060505104	4,562	330,580	SH		SOLE		330,580	0	0
Berkshire Hathaway Inc Cl B	CL B NEW	084670702	419	3,688	SH		SOLE		3,688	0	0
Bloomin Brands Inc	COM	094235108	1,293	54,769	SH		SOLE		54,769	0	0
Boise Inc	COM	09746y105	135	10,735	SH		SOLE		10,735	0	0
Brocade Communications Systems	COM NEW	111621306	3,470	431,080	SH		SOLE		431,080	0	0
Brookfield Asset Mgmt Inc Cl A	CL A LTD VT SH	112585104	542	14,503	SH		SOLE		14,503	0	0
Brookfield Office Properties I	COM	112900105	248	12,999	SH		SOLE		12,999	0	0
Bunge Limited	COM	g16962105	2,236	29,458	SH		SOLE		29,458	0	0
CA Inc	COM	12673p105	1,934	65,173	SH		SOLE		65,173	0	0
CACI International Inc Cl A	CL A	127190304	1,123	16,254	SH		SOLE		16,254	0	0
Caesars Entertainment Corp	COM	127686103	1,245	63,273	SH		SOLE		63,273	0	0
Canadian National Railway Co	COM	136375102	486	4,792	SH		SOLE		4,792	0	0
Canadian Pacific Railway Ltd	COM	13645t100	242	1,966	SH		SOLE		1,966	0	0
Cardinal Health Inc	COM	14149y108	900	17,255	SH		SOLE		17,255	0	0
Caseys General Stores Inc	COM	147528103	218	2,965	SH		SOLE		2,965	0	0
CBOE Holdings Inc	COM	12503m108	1,015	22,440	SH		SOLE		22,440	0	0
CF Industries Holdings Inc	COM	125269100	2,430	11,524	SH		SOLE		11,524	0	0
Chemed Corp	COM	16359r103	2,128	29,760	SH		SOLE		29,760	0	0
Chevron Corp	COM	166764100	13,146	108,197	SH		SOLE		108,197	0	0
Cisco Systems Inc	COM	17275r102	8,626	368,141	SH		SOLE		368,141	0	0
Citigroup Inc	COM NEW	172967424	3,919	80,792	SH		SOLE		80,792	0	0
Clorox Co	COM	189054109	1,928	23,593	SH		SOLE		23,593	0	0
CMS Energy Corp	COM	125896100	2,491	94,634	SH		SOLE		94,634	0	0
CNH Industrial NV	ADR	n20944109	1,412	112,977	SH		SOLE		112,977	0	0
Coca-Cola Co	COM	191216100	225	5,941	SH		SOLE		5,941	0	0
Cognizant Technology Solutions	CL A	192446102	854	10,404	SH		SOLE		10,404	0	0
Columbia Sportswear Co	COM	198516106	808	13,420	SH		SOLE		13,420	0	0
Comcast Corp Cl A	CL A	20030n101	5,050	111,941	SH		SOLE		111,941	0	0
Comerica Inc	COM	200340107	223	5,676	SH		SOLE		5,676	0	0
ConocoPhillips	COM	20825c104	3,163	45,509	SH		SOLE		45,509	0	0
CVS Caremark Corporation	COM	126650100	221	3,894	SH		SOLE		3,894	0	0
Darden Restaurants Inc	COM	237194105	594	12,841	SH		SOLE		12,841	0	0
Dean Foods Co	COM	242370104	948	98,070	SH		SOLE		98,070	0	0
Demand Media Inc	COM	24802n109	112	17,670	SH		SOLE		17,670	0	0
Deutsche Bank AG Namen AKT	NAMEN AKT	d18190898	312	6,805	SH		SOLE		6,805	0	0
DirecTV	COM	25490a309	1,265	21,157	SH		SOLE		21,157	0	0
Domtar Corp	COM NEW	257559203	2,323	29,245	SH		SOLE		29,245	0	0
Donnelley R R & Sons Co	COM	257867101	659	41,754	SH		SOLE		41,754	0	0
Dow Chemical Co	COM	260543103	3,024	78,740	SH		SOLE		78,740	0	0
DTE Energy Co	COM	233331107	615	9,324	SH		SOLE		9,324	0	0
Education Mgmt Corp	COM	28140m103	145	15,905	SH		SOLE		15,905	0	0
Edwards Lifesciences Corp	COM	28176e108	1,187	17,043	SH		SOLE		17,043	0	0
Energy XXI (Bermuda) Ltd USD U	USD UNRS SHS	g10082140	1,195	39,569	SH		SOLE		39,569	0	0
Entergy Corp	COM	29364g103	1,011	15,999	SH		SOLE		15,999	0	0
Everest Reinsurance Group Ltd	COM	g3223r108	2,122	14,590	SH		SOLE		14,590	0	0
Exelis Inc	COM	30162a108	1,217	77,460	SH		SOLE		77,460	0	0
Exelon Corp	COM	30161n101	2,183	73,658	SH		SOLE		73,658	0	0
Exxon Mobil Corp	COM	30231g102	12,286	142,795	SH		SOLE		142,795	0	0
Fastenal Co	COM	311900104	1,585	31,529	SH		SOLE		31,529	0	0
Federated Investors Inc PA Cl	CL B	314211103	698	25,684	SH		SOLE		25,684	0	0
Fifth Third Bancorp	COM	316773100	3,059	169,446	SH		SOLE		169,446	0	0
First Niagara Financial Group	COM	33582v108	2,736	263,814	SH		SOLE		263,814	0	0
First Solar Inc	COM	336433107	1,459	36,296	SH		SOLE		36,296	0	0
FirstEnergy Corp	COM	337932107	2,297	63,024	SH		SOLE		63,024	0	0
Ford Motor Co	COM PAR $0.01	345370860	2,772	164,321	SH		SOLE		164,321	0	0
Freeport-McMoran Copper & Gold	COM	35671d857	1,036	31,305	SH		SOLE		31,305	0	0
Gannett Inc	COM	364730101	623	23,241	SH		SOLE		23,241	0	0
General Electric Co	COM	369604103	12,661	529,964	SH		SOLE		529,964	0	0
Genuine Parts Co	COM	372460105	534	6,607	SH		SOLE		6,607	0	0
GNC Holdings Inc Cl A	COM CL A	36191g107	2,205	40,370	SH		SOLE		40,370	0	0
Goldman Sachs Group Inc	COM	38141g104	264	1,669	SH		SOLE		1,669	0	0
Google Inc Cl A	CL A	38259p508	308	352	SH		SOLE		352	0	0
Graftech Intl Ltd	COM	384313102	123	14,570	SH		SOLE		14,570	0	0
Greif Inc Cl A	CL A	397624107	2,182	44,507	SH		SOLE		44,507	0	0
Hanesbrands Inc	COM	410345102	2,406	38,619	SH		SOLE		38,619	0	0
Hanmi Financial Corp	COM NEW	410495204	170	10,250	SH		SOLE		10,250	0	0
Harman Intl Industries Inc	COM	413086109	2,068	31,229	SH		SOLE		31,229	0	0
Harris Corp	COM	413875105	6,187	104,325	SH		SOLE		104,325	0	0
Hasbro Inc	COM	418056107	649	13,771	SH		SOLE		13,771	0	0
Helen of Troy Corp Ltd	COM	g4388n106	689	15,560	SH		SOLE		15,560	0	0
Helmerich & Payne Inc	COM	423452101	1,808	26,220	SH		SOLE		26,220	0	0
Herbalife Ltd	COM USD SHS	g4412g101	1,749	25,070	SH		SOLE		25,070	0	0
Hewlett Packard Co	COM	428236103	237	11,314	SH		SOLE		11,314	0	0
HollyFrontier Corp	COM	436106108	1,780	42,280	SH		SOLE		42,280	0	0
Home Depot Inc	COM	437076102	2,400	31,645	SH		SOLE		31,645	0	0
Homeaway Inc	COM	43739q100	2,211	79,075	SH		SOLE		79,075	0	0
Intel Corp	COM	458140100	4,509	196,722	SH		SOLE		196,722	0	0
InterDigital Inc	COM	45867g101	1,379	36,936	SH		SOLE		36,936	0	0
International Paper Co	COM	460146103	839	18,736	SH		SOLE		18,736	0	0
Intersil Corp Cl A	CL A	46069s109	825	73,500	SH		SOLE		73,500	0	0
Intl Business Machines	COM	459200101	422	2,278	SH		SOLE		2,278	0	0
Johnson & Johnson	COM	478160104	2,185	25,204	SH		SOLE		25,204	0	0
JPMorgan Chase & Co	COM	46625h100	5,001	96,743	SH		SOLE		96,743	0	0
KeyCorp	COM	493267108	2,716	238,289	SH		SOLE		238,289	0	0
Kimberly Clark Corp	COM	494368103	1,023	10,862	SH		SOLE		10,862	0	0
Krispy Kreme Doughnuts Inc	COM	501014104	1,203	62,222	SH		SOLE		62,222	0	0
Kroger Co	COM	501044101	3,088	76,555	SH		SOLE		76,555	0	0
L-3 Communications Holdings In	COM	502424104	1,182	12,503	SH		SOLE		12,503	0	0
Lear Corp	COM NEW	521865204	1,345	18,793	SH		SOLE		18,793	0	0
Leggett & Platt Inc	COM	524660107	508	16,857	SH		SOLE		16,857	0	0
LifeLock Inc	COM	53224v100	152	10,275	SH		SOLE		10,275	0	0
Lilly Eli & Co	COM	532457108	4,661	92,615	SH		SOLE		92,615	0	0
Lockheed Martin Corp	COM	539830109	6,884	53,973	SH		SOLE		53,973	0	0
Lorillard Inc	COM	544147101	1,393	31,109	SH		SOLE		31,109	0	0
Lumber Liquidators Holdings In	COM	55003t107	2,262	21,210	SH		SOLE		21,210	0	0
LyondellBasell Industries NV -	SHS - A -	n53745100	2,155	29,429	SH		SOLE		29,429	0	0
Magellan Health Services Inc	COM NEW	559079207	2,240	37,353	SH		SOLE		37,353	0	0
ManpowerGroup	COM	56418h100	1,373	18,880	SH		SOLE		18,880	0	0
Manulife Financial Corp	COM	56501r106	305	18,412	SH		SOLE		18,412	0	0
Marvell Technology Group Ltd	ORD	g5876h105	2,178	189,389	SH		SOLE		189,389	0	0
McDonalds Corp	COM	580135101	830	8,623	SH		SOLE		8,623	0	0
Mead Johnson Nutrition Co	COM	582839106	2,068	27,852	SH		SOLE		27,852	0	0
Merck & Co Inc	COM	58933y105	2,975	62,491	SH		SOLE		62,491	0	0
MetLife Inc	COM	59156r108	207	4,418	SH		SOLE		4,418	0	0
Micron Technology Inc	COM	595112103	3,097	177,294	SH		SOLE		177,294	0	0
Microsoft Corp	COM	594918104	12,240	367,795	SH		SOLE		367,795	0	0
Molson Coors Brewing Co Cl B	CL B	60871r209	497	9,910	SH		SOLE		9,910	0	0
Morgan Stanley	COM NEW	617446448	281	10,432	SH		SOLE		10,432	0	0
Mosaic Co	COM	61945c103	2,064	47,967	SH		SOLE		47,967	0	0
Murphy Oil Corp	COM	626717102	1,814	30,077	SH		SOLE		30,077	0	0
Murphy USA Inc	COM	626755102	2,143	53,070	SH		SOLE		53,070	0	0
Myriad Genetics Inc	COM	62855j104	2,030	86,399	SH		SOLE		86,399	0	0
Norfolk Southern Corp	COM	655844108	488	6,306	SH		SOLE		6,306	0	0
Northrop Grumman Corp	COM	666807102	2,119	22,247	SH		SOLE		22,247	0	0
Old Republic Intl Corp	COM	680223104	1,393	90,455	SH		SOLE		90,455	0	0
Olin Corp	COM PAR $1	680665205	3,266	141,550	SH		SOLE		141,550	0	0
Omnicare Inc	COM	681904108	2,557	46,070	SH		SOLE		46,070	0	0
Oracle Corp	COM	68389x105	7,530	227,014	SH		SOLE		227,014	0	0
PDL Biopharma Inc	COM	69329y104	136	17,050	SH		SOLE		17,050	0	0
PepsiCo Inc	COM	713448108	238	3,000	SH		SOLE		3,000	0	0
Perrigo Co	COM	714290103	2,070	16,781	SH		SOLE		16,781	0	0
PetSmart Inc	COM	716768106	2,511	32,928	SH		SOLE		32,928	0	0
Pfizer Inc	COM	717081103	7,240	252,046	SH		SOLE		252,046	0	0
PHH Corp	COM NEW	693320202	1,061	44,700	SH		SOLE		44,700	0	0
Philip Morris Intl Inc	COM	718172109	256	2,960	SH		SOLE		2,960	0	0
Phillips 66	COM	718546104	4,640	80,248	SH		SOLE		80,248	0	0
Pilgrims Pride Corp	COM	72147k108	358	21,356	SH		SOLE		21,356	0	0
Pinnacle West Cap Corp	COM	723484101	2,209	40,355	SH		SOLE		40,355	0	0
PNC Financial Services Group I	COM	693475105	1,092	15,079	SH		SOLE		15,079	0	0
Price T Rowe Group Inc	COM	74144t108	2,053	28,541	SH		SOLE		28,541	0	0
Procter & Gamble Co	COM	742718109	947	12,523	SH		SOLE		12,523	0	0
Prudential Financial Inc	COM	744320102	251	3,223	SH		SOLE		3,223	0	0
Public Service Enterprise Grou	COM	744573106	951	28,874	SH		SOLE		28,874	0	0
Qualcomm Inc	COM	747525103	654	9,709	SH		SOLE		9,709	0	0
Questcor Pharmaceuticals Inc	COM	74835y101	386	6,662	SH		SOLE		6,662	0	0
Ralph Lauren Corp Cl A	CL A	751212101	3,505	21,278	SH		SOLE		21,278	0	0
Raytheon Co	COM NEW	755111507	4,444	57,655	SH		SOLE		57,655	0	0
Red Hat Inc	COM	756577102	758	16,420	SH		SOLE		16,420	0	0
Regions Financial Corp	COM	7591ep100	2,547	275,095	SH		SOLE		275,095	0	0
Rite Aid Corp	COM	767754104	769	161,459	SH		SOLE		161,459	0	0
Robert Half Intl Inc	COM	770323103	785	20,118	SH		SOLE		20,118	0	0
Ross Stores Inc	COM	778296103	2,031	27,896	SH		SOLE		27,896	0	0
Royal Bank of Canada Montreal	COM	780087102	352	5,477	SH		SOLE		5,477	0	0
RPC Inc	COM	749660106	205	13,265	SH		SOLE		13,265	0	0
Sanderson Farms Inc	COM	800013104	2,213	33,915	SH		SOLE		33,915	0	0
Sanmina Corporation	COM	801056102	2,844	162,599	SH		SOLE		162,599	0	0
Schweitzer-Mauduit Intl Inc	COM	808541106	2,259	37,315	SH		SOLE		37,315	0	0
Select Med Holdings Corp	COM	81619q105	115	14,215	SH		SOLE		14,215	0	0
SolarWinds Inc	COM	83416b109	1,152	32,845	SH		SOLE		32,845	0	0
Sonoco Prods Co	COM	835495102	2,415	62,016	SH		SOLE		62,016	0	0
Southwest Airlines Co	COM	844741108	2,303	158,170	SH		SOLE		158,170	0	0
Starbucks Corp	COM	855244109	1,364	17,716	SH		SOLE		17,716	0	0
Sun Life Financial Inc	COM	866796105	210	6,556	SH		SOLE		6,556	0	0
SunPower Corp	COM	867652406	1,308	50,006	SH		SOLE		50,006	0	0
Swift Trans Co Cl A	CL A	87074u101	2,639	130,716	SH		SOLE		130,716	0	0
Sysco Corp	COM	871829107	562	17,647	SH		SOLE		17,647	0	0
Tech Data Corp	COM	878237106	1,740	34,859	SH		SOLE		34,859	0	0
TECO Energy Inc	COM	872375100	2,792	168,812	SH		SOLE		168,812	0	0
Tetra Tech Inc	COM	88162g103	756	29,211	SH		SOLE		29,211	0	0
Thomson Reuters Corp	COM	884903105	880	25,126	SH		SOLE		25,126	0	0
Thor Industries Inc	COM	885160101	978	16,852	SH		SOLE		16,852	0	0
Time Warner Cable Inc	COM	88732j207	1,222	10,952	SH		SOLE		10,952	0	0
Time Warner Inc	COM NEW	887317303	2,268	34,463	SH		SOLE		34,463	0	0
Tivo Inc	COM	888706108	769	61,816	SH		SOLE		61,816	0	0
Toronto Dominion Bank Ont	COM NEW	891160509	313	3,477	SH		SOLE		3,477	0	0
Towers Watson & Co Cl A	CL A	891894107	1,397	13,058	SH		SOLE		13,058	0	0
Tractor Supply Co	COM	892356106	1,114	16,580	SH		SOLE		16,580	0	0
Travelers Companies Inc	COM	89417e109	775	9,143	SH		SOLE		9,143	0	0
Tyson Foods Inc Cl A	CL A	902494103	1,912	67,603	SH		SOLE		67,603	0	0
UBS AG	SHS NEW	h89231338	558	27,173	SH		SOLE		27,173	0	0
UGI Corp	COM	902681105	2,622	67,008	SH		SOLE		67,008	0	0
United Parcel Service Inc Cl B	CL B	911312106	594	6,500	SH		SOLE		6,500	0	0
United States Cellular Corp	COM	911684108	333	7,317	SH		SOLE		7,317	0	0
United Technologies Corp	COM	913017109	214	1,989	SH		SOLE		1,989	0	0
United Therapeutics Corp	COM	91307c102	2,455	31,135	SH		SOLE		31,135	0	0
UnitedHealth Group Inc	COM	91324p102	2,614	36,497	SH		SOLE		36,497	0	0
Unum Group	COM	91529y106	2,407	79,058	SH		SOLE		79,058	0	0
URS Corp	COM	903236107	1,451	26,998	SH		SOLE		26,998	0	0
Valero Energy Corp	COM	91913y100	3,235	94,715	SH		SOLE		94,715	0	0
Valmont Industries Inc	COM	920253101	1,064	7,660	SH		SOLE		7,660	0	0
Verizon Communications Inc	COM	92343v104	2,564	54,925	SH		SOLE		54,925	0	0
Visa Inc Cl A	COM CL A	92826c839	5,113	26,755	SH		SOLE		26,755	0	0
Wal-Mart Stores Inc	COM	931142103	1,395	18,863	SH		SOLE		18,863	0	0
WellPoint Inc	COM	94973v107	2,071	24,772	SH		SOLE		24,772	0	0
Wells Fargo & Co	COM	949746101	6,628	160,413	SH		SOLE		160,413	0	0
Wendys Co	COM	95058w100	1,308	154,190	SH		SOLE		154,190	0	0
Western Refining Inc	COM	959319104	1,971	65,620	SH		SOLE		65,620	0	0
Western Union Co	COM	959802109	1,170	62,704	SH		SOLE		62,704	0	0
Williams Sonoma Inc	COM	969904101	2,211	39,337	SH		SOLE		39,337	0	0
World Fuel Services Corp	COM	981475106	1,909	51,157	SH		SOLE		51,157	0	0
Zions Bancorporation	COM	989701107	2,531	92,305	SH		SOLE		92,305	0	0
ABB Ltd Sp ADR	SPONSORED ADR	000375204	1,081	45,829	SH		SOLE		45,829	0	0
Adidas AG ADR	ADR	00687a107	248	4,562	SH		SOLE		4,562	0	0
Aegon NV NY Reg Shs	NY REGISTRY SH	007924103	188	25,463	SH		SOLE		25,463	0	0
Allianz SE Sp ADR	ADR	018805101	709	45,076	SH		SOLE		45,076	0	0
Anheuser-Busch InBev SA NV Sp	SPONSORED ADR	03524a108	659	6,644	SH		SOLE		6,644	0	0
AstraZeneca PLC Sp ADR	SPONSORED ADR	046353108	293	5,651	SH		SOLE		5,651	0	0
Australia & New Zealand Bankin	ADR	052528304	292	10,130	SH		SOLE		10,130	0	0
Aviva PLC ADR	ADR	05382a104	210	16,353	SH		SOLE		16,353	0	0
Banco Bilbao Vizcaya Argentari	SPONSORED ADR	05946k101	252	22,519	SH		SOLE		22,519	0	0
Banco Santander SA ADR	ADR	05964h105	321	39,348	SH		SOLE		39,348	0	0
Barclays PLC ADR	ADR	06738e204	224	13,126	SH		SOLE		13,126	0	0
BASF SE Sp ADR	ADR	055262505	480	5,001	SH		SOLE		5,001	0	0
Bayer AG Sp ADR	ADR	072730302	440	3,732	SH		SOLE		3,732	0	0
BHP Billiton Ltd Sp ADR	SPONSORED ADR	088606108	561	8,441	SH		SOLE		8,441	0	0
BHP Billiton PLC Sp ADR	SPONSORED ADR	05545e209	319	5,427	SH		SOLE		5,427	0	0
BNP Paribas Sp ADR	ADR	05565a202	317	9,370	SH		SOLE		9,370	0	0
BP PLC Sp ADR	SPONSORED ADR	055622104	319	7,600	SH		SOLE		7,600	0	0
British American Tobacco PLC S	SPONSORED ADR	110448107	411	3,910	SH		SOLE		3,910	0	0
Carrefour SA Sp ADR	ADR	144430204	182	26,562	SH		SOLE		26,562	0	0
China Mobile Limited Sp ADR	SPONSORED ADR	16941m109	571	10,123	SH		SOLE		10,123	0	0
CNOOC Ltd Sp ADR	SPONSORED ADR	126132109	202	1,003	SH		SOLE		1,003	0	0
Credit Suisse Group Sp ADR	SPONSORED ADR	225401108	332	10,853	SH		SOLE		10,853	0	0
Diageo PLC Sp ADR	SPON ADR NEW	25243q205	325	2,554	SH		SOLE		2,554	0	0
Ecopetrol SA Sp ADS	SPONSORED ADS	279158109	218	4,743	SH		SOLE		4,743	0	0
Enersis SA Sp ADR	SPONSORED ADR	29274f104	199	12,400	SH		SOLE		12,400	0	0
ENI SPA Sp ADR	SPONSORED ADR	26874r108	218	4,736	SH		SOLE		4,736	0	0
Ericsson ADR B	ADR B SEK 10	294821608	198	14,868	SH		SOLE		14,868	0	0
Experian PLC Sp ADR	ADR	30215c101	375	19,674	SH		SOLE		19,674	0	0
Fresenius Med Care AG & Co KGA	SPONSORED ADR	358029106	254	7,856	SH		SOLE		7,856	0	0
Gazprom OAO Sp ADR	ADR	368287207	241	27,022	SH		SOLE		27,022	0	0
GlaxoSmithKline PLC Sp ADR	SPONSORED ADR	37733w105	566	11,287	SH		SOLE		11,287	0	0
Henderson Land Development Ltd	ADR	425166303	198	32,112	SH		SOLE		32,112	0	0
Honda Motor Ltd American	AMERN SHS	438128308	442	11,579	SH		SOLE		11,579	0	0
HSBC Holdings PLC Sp ADR	SPON ADR NEW	404280406	787	14,497	SH		SOLE		14,497	0	0
ING Groep NV Sp ADR	SPONSORED ADR	456837103	316	27,883	SH		SOLE		27,883	0	0
Kingfisher PLC Sp ADR	ADR	495724403	286	22,853	SH		SOLE		22,853	0	0
Koninklijke Philips NV	NY REG SH NEW	500472303	630	19,524	SH		SOLE		19,524	0	0
Korea Electric Power Sp ADR	SPONSORED ADR	500631106	252	17,933	SH		SOLE		17,933	0	0
Lloyds Banking Group PLC Sp AD	SPONSORED ADR	539439109	316	65,658	SH		SOLE		65,658	0	0
Luxottica Group SPA Sp ADR	SPONSORED ADR	55068r202	266	5,052	SH		SOLE		5,052	0	0
Marks & Spencer Group PLC Sp A	ADR	570912105	212	13,158	SH		SOLE		13,158	0	0
Mitsubishi UFJ Financial Group	SPONSORED ADR	606822104	350	54,637	SH		SOLE		54,637	0	0
Mizuho Financial Group Inc Sp	SPONSORED ADR	60687y109	213	49,421	SH		SOLE		49,421	0	0
National Australia Bank Ltd Sp	ADR	632525408	225	7,010	SH		SOLE		7,010	0	0
National Grid PLC Sp ADR	SPON ADR NEW	636274300	646	10,936	SH		SOLE		10,936	0	0
Nestle SA Sp ADR	ADR	641069406	924	13,211	SH		SOLE		13,211	0	0
Nidec Corp Sp ADR	SPONSORED ADR	654090109	235	11,093	SH		SOLE		11,093	0	0
Nomura Holdings Inc Sp ADR	SPONSORED ADR	65535h208	211	27,076	SH		SOLE		27,076	0	0
Novartis AG Sp ADR	SPONSORED ADR	66987v109	882	11,499	SH		SOLE		11,499	0	0
Novo-Nordisk AS ADR	ADR	670100205	346	2,046	SH		SOLE		2,046	0	0
NTT Docomo Inc Sp ADR	SPONS ADR	62942m201	165	10,152	SH		SOLE		10,152	0	0
Panasonic Corp ADR	ADR	69832a205	242	25,085	SH		SOLE		25,085	0	0
Prudential PLC ADR	ADR	74435k204	487	13,041	SH		SOLE		13,041	0	0
Reckitt Benckiser PLC Sp ADR	ADR	756255204	395	27,010	SH		SOLE		27,010	0	0
Rio Tinto PLC Sp ADR	SPONSORED ADR	767204100	357	7,322	SH		SOLE		7,322	0	0
Roche Holding Ltd Sp ADR	ADR	771195104	846	12,542	SH		SOLE		12,542	0	0
Royal Bank Scotland Group PLC	SPONS ADR 20 ORD	780097689	133	11,465	SH		SOLE		11,465	0	0
Royal Dutch Shell PLC Sp ADR A	SPONS ADR A	780259206	291	4,436	SH		SOLE		4,436	0	0
Royal Dutch Shell PLC Sp ADR B	SPON ADR B	780259107	208	3,023	SH		SOLE		3,023	0	0
SABMiller PLC Sp ADR	ADR	78572m105	338	6,647	SH		SOLE		6,647	0	0
Sanofi Sp ADR	SPONSORED ADR	80105n105	607	11,982	SH		SOLE		11,982	0	0
SAP AG Sp ADR	SPON ADR	803054204	286	3,872	SH		SOLE		3,872	0	0
Sberbank Russia Sp ADR	ADR	80585y308	184	15,207	SH		SOLE		15,207	0	0
Siemens AG Sp ADR	SPONSORED ADR	826197501	2,057	17,066	SH		SOLE		17,066	0	0
Sony Corp ADR	ADR NEW	835699307	228	10,583	SH		SOLE		10,583	0	0
Sumitomo Mitsui Financial Grou	SPONSORED ADR	86562m209	260	26,708	SH		SOLE		26,708	0	0
Syngenta AG Sp ADR	SPONSORED ADR	87160a100	223	2,744	SH		SOLE		2,744	0	0
Telefonica SA Sp ADR	SPONSORED ADR	879382208	165	10,644	SH		SOLE		10,644	0	0
Tesco PLC Sp ADR	ADR	881575302	320	18,337	SH		SOLE		18,337	0	0
Total SA Sp ADR	SPONSORED ADR	89151e109	314	5,420	SH		SOLE		5,420	0	0
Toyota Motor Corp Sp ADR 2	SP ADR REP2COM	892331307	1,318	10,292	SH		SOLE		10,292	0	0
Unilever NV NY	N Y SHS NEW	904784709	264	7,004	SH		SOLE		7,004	0	0
Unilever PLC Sp ADR	SPON ADR NEW	904767704	205	5,303	SH		SOLE		5,303	0	0
Vale SA ADR	ADR	91912e105	262	16,804	SH		SOLE		16,804	0	0
Vodafone Group PLC Sp ADR	SPONS ADR NEW	92857w209	400	11,366	SH		SOLE		11,366	0	0
Volkswagen AG Sp ADR	ADR	928662303	376	8,287	SH		SOLE		8,287	0	0
Wal-Mart de Mexico SAB de CV S	ADR	93114w107	256	9,829	SH		SOLE		9,829	0	0
Westpac Banking Corp Sp ADR	SPONSORED ADR	961214301	345	11,251	SH		SOLE		11,251	0	0
American Assets Tr Inc	COM	024013104	1,382	45,301	SH		SOLE		45,301	0	0
Camden Property Trust	SH BEN INT	133131102	1,154	18,780	SH		SOLE		18,780	0	0
CBL & Assoc Properties Inc	COM	124830100	412	21,576	SH		SOLE		21,576	0	0
Corrections Corp America New	COM NEW	22025y407	206	5,976	SH		SOLE		5,976	0	0
DuPont Fabros Technology Inc	COM	26613q106	1,468	56,980	SH		SOLE		56,980	0	0
EastGroup Property Inc	COM	277276101	1,626	27,457	SH		SOLE		27,457	0	0
Extra Space Storage Inc	COM	30225t102	1,619	35,391	SH		SOLE		35,391	0	0
Glimcher Realty Trust	SH BEN INT	379302102	949	97,357	SH		SOLE		97,357	0	0
Government Properties Income T	COM SHS BEN INT	38376a103	1,449	60,560	SH		SOLE		60,560	0	0
Investors Real Estate Tr	SH BEN INT	461730103	172	20,880	SH		SOLE		20,880	0	0
Kimco Realty Corp	COM	49446r109	380	18,830	SH		SOLE		18,830	0	0
Omega Healthcare Invs Inc	COM	681936100	1,315	44,030	SH		SOLE		44,030	0	0
Plum Creek Timber Co Inc	COM	729251108	705	15,043	SH		SOLE		15,043	0	0
Potlatch Corp	COM	737630103	1,345	33,890	SH		SOLE		33,890	0	0
ProLogis Inc	COM	74340w103	323	8,585	SH		SOLE		8,585	0	0
Public Storage	COM	74460d109	999	6,219	SH		SOLE		6,219	0	0
Rayonier Inc	COM	754907103	821	14,744	SH		SOLE		14,744	0	0
Weyerhaeuser Co	COM	962166104	638	22,272	SH		SOLE		22,272	0	0