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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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
AAR Corp	COM	000361105	591	21,090	SH		SOLE	0	21,090	0	0
Abbott Laboratories	COM	002824100	200	5,224	SH		SOLE	0	5,224	0	0
Abbvie Inc	COM	00287y109	588	11,126	SH		SOLE	0	11,126	0	0
AECOM Technology Corp Delaware	COM	00766t100	1,642	55,800	SH		SOLE	0	55,800	0	0
Aflac Inc	COM	001055102	1,717	25,704	SH		SOLE	0	25,704	0	0
AGCO Corp	COM	001084102	1,633	27,594	SH		SOLE	0	27,594	0	0
AGL Resources Inc	COM	001204106	3,621	76,673	SH		SOLE	0	76,673	0	0
Altria Group Inc	COM	02209s103	3,212	83,679	SH		SOLE	0	83,679	0	0
Amazon.com Inc	COM	023135106	2,442	6,124	SH		SOLE	0	6,124	0	0
American Electric Power Inc	COM	025537101	885	18,934	SH		SOLE	0	18,934	0	0
American Equity Inv Life Holdi	COM	025676206	2,774	105,155	SH		SOLE	0	105,155	0	0
American Express Co	COM	025816109	206	2,273	SH		SOLE	0	2,273	0	0
American Railcar Industries In	COM	02916p103	639	13,970	SH		SOLE	0	13,970	0	0
AmerisourceBergen Corp	COM	03073e105	2,693	38,304	SH		SOLE	0	38,304	0	0
Amkor Technology Inc	COM	031652100	743	121,270	SH		SOLE	0	121,270	0	0
AmTrust Financial Services Inc	COM	032359309	1,921	58,757	SH		SOLE	0	58,757	0	0
Apple Inc	COM	037833100	12,427	22,150	SH		SOLE	0	22,150	0	0
Archer Daniels Midland Co	COM	039483102	2,687	61,908	SH		SOLE	0	61,908	0	0
Ashland Inc	COM	044209104	2,519	25,957	SH		SOLE	0	25,957	0	0
Aspen Technology Inc	COM	045327103	1,773	42,409	SH		SOLE	0	42,409	0	0
Assurant Inc	COM	04621x108	2,544	38,336	SH		SOLE	0	38,336	0	0
AT&T Inc	COM	00206r102	3,461	98,447	SH		SOLE	0	98,447	0	0
Avista Corp	COM	05379b107	881	31,236	SH		SOLE	0	31,236	0	0
Babcock & Wilcox Co	COM	05615f102	1,739	50,870	SH		SOLE	0	50,870	0	0
Bally Technologies Inc	COM	05874b107	1,944	24,781	SH		SOLE	0	24,781	0	0
Bank Nova Scotia Halifax	COM	064149107	256	4,095	SH		SOLE	0	4,095	0	0
Bank of America Corporation	COM	060505104	373	23,982	SH		SOLE	0	23,982	0	0
Baxter Intl Inc	COM	071813109	777	11,172	SH		SOLE	0	11,172	0	0
Berkshire Hathaway Inc Cl B	CL B NEW	084670702	434	3,664	SH		SOLE	0	3,664	0	0
Berry Plastics Group Inc	COM	08579w103	2,457	103,266	SH		SOLE	0	103,266	0	0
Blackbaud Inc	COM	09227q100	826	21,940	SH		SOLE	0	21,940	0	0
Blount Intl Inc	COM	095180105	728	50,340	SH		SOLE	0	50,340	0	0
Boeing Co	COM	097023105	7,933	58,118	SH		SOLE	0	58,118	0	0
BOK Financial Corp	COM NEW	05561q201	957	14,433	SH		SOLE	0	14,433	0	0
Brookfield Asset Mgmt Inc Cl A	CL A LTD VT SH	112585104	490	12,615	SH		SOLE	0	12,615	0	0
Brookfield Office Properties I	COM	112900105	223	11,598	SH		SOLE	0	11,598	0	0
Bunge Limited	COM	g16962105	2,277	27,736	SH		SOLE	0	27,736	0	0
CA Inc	COM	12673p105	3,005	89,301	SH		SOLE	0	89,301	0	0
California Wtr Svc Group	COM	130788102	675	29,240	SH		SOLE	0	29,240	0	0
Callaway Golf Co	COM	131193104	174	20,690	SH		SOLE	0	20,690	0	0
Canadian National Railway Co	COM	136375102	416	7,298	SH		SOLE	0	7,298	0	0
Canadian Pacific Railway Ltd	COM	13645t100	251	1,660	SH		SOLE	0	1,660	0	0
Cardinal Health Inc	COM	14149y108	201	3,009	SH		SOLE	0	3,009	0	0
CBOE Holdings Inc	COM	12503m108	549	10,570	SH		SOLE	0	10,570	0	0
Central Pac Financial Corp	COM NEW	154760409	961	47,870	SH		SOLE	0	47,870	0	0
Chemed Corp	COM	16359r103	3,105	40,520	SH		SOLE	0	40,520	0	0
Chesapeake Energy Corp	COM	165167107	3,483	128,352	SH		SOLE	0	128,352	0	0
Chevron Corp	COM	166764100	14,098	112,861	SH		SOLE	0	112,861	0	0
Cirrus Logic Inc	COM	172755100	736	36,010	SH		SOLE	0	36,010	0	0
Cisco Systems Inc	COM	17275r102	4,989	222,435	SH		SOLE	0	222,435	0	0
Citigroup Inc	COM NEW	172967424	443	8,495	SH		SOLE	0	8,495	0	0
Citrix Systems Inc	COM	177376100	1,140	18,021	SH		SOLE	0	18,021	0	0
City National Corp	COM	178566105	3,964	50,043	SH		SOLE	0	50,043	0	0
Clorox Co	COM	189054109	2,434	26,244	SH		SOLE	0	26,244	0	0
CMS Energy Corp	COM	125896100	2,533	94,634	SH		SOLE	0	94,634	0	0
Coca-Cola Co	COM	191216100	245	5,932	SH		SOLE	0	5,932	0	0
Cognizant Technology Solutions	CL A	192446102	1,871	18,531	SH		SOLE	0	18,531	0	0
Comcast Corp Cl A	CL A	20030n101	6,361	122,418	SH		SOLE	0	122,418	0	0
Comfort Systems USA Inc	COM	199908104	616	31,760	SH		SOLE	0	31,760	0	0
Commerce Bancshares Inc	COM	200525103	907	20,199	SH		SOLE	0	20,199	0	0
comScore Inc	COM	20564w105	690	24,130	SH		SOLE	0	24,130	0	0
ConocoPhillips	COM	20825c104	3,845	54,417	SH		SOLE	0	54,417	0	0
Constant Contact Inc	COM	210313102	759	24,440	SH		SOLE	0	24,440	0	0
Core Mark Holding Co Inc	COM	218681104	601	7,912	SH		SOLE	0	7,912	0	0
Coty Inc Cl A	COM CL A	222070203	661	43,330	SH		SOLE	0	43,330	0	0
CVS Caremark Corporation	COM	126650100	275	3,846	SH		SOLE	0	3,846	0	0
Darden Restaurants Inc	COM	237194105	826	15,188	SH		SOLE	0	15,188	0	0
Dean Foods Co	COM NEW	242370203	2,085	121,280	SH		SOLE	0	121,280	0	0
Delta Air Lines Inc	COM NEW	247361702	2,106	76,674	SH		SOLE	0	76,674	0	0
Deutsche Bank AG Namen AKT	NAMEN AKT	d18190898	294	6,104	SH		SOLE	0	6,104	0	0
DirecTV	COM	25490a309	2,436	35,280	SH		SOLE	0	35,280	0	0
Domtar Corp	COM NEW	257559203	570	6,040	SH		SOLE	0	6,040	0	0
Donnelley R R & Sons Co	COM	257867101	1,019	50,270	SH		SOLE	0	50,270	0	0
Dow Chemical Co	COM	260543103	3,679	82,870	SH		SOLE	0	82,870	0	0
DTE Energy Co	COM	233331107	750	11,289	SH		SOLE	0	11,289	0	0
Edwards Lifesciences Corp	COM	28176e108	756	11,500	SH		SOLE	0	11,500	0	0
Emergent Biosolutions Inc	COM	29089q105	683	29,708	SH		SOLE	0	29,708	0	0
Employers Holdings Inc	COM	292218104	514	16,230	SH		SOLE	0	16,230	0	0
Energy XXI (Bermuda) Ltd USD U	USD UNRS SHS	g10082140	2,474	91,435	SH		SOLE	0	91,435	0	0
Ensco PLC Class A	SHS CLASS A	g3157s106	599	10,471	SH		SOLE	0	10,471	0	0
Entergy Corp	COM	29364g103	1,200	18,963	SH		SOLE	0	18,963	0	0
Everest Reinsurance Group Ltd	COM	g3223r108	2,666	17,102	SH		SOLE	0	17,102	0	0
Evertec Inc	COM	30040p103	740	29,990	SH		SOLE	0	29,990	0	0
Exelon Corp	COM	30161n101	2,364	86,298	SH		SOLE	0	86,298	0	0
Exxon Mobil Corp	COM	30231g102	13,745	135,815	SH		SOLE	0	135,815	0	0
Fastenal Co	COM	311900104	907	19,089	SH		SOLE	0	19,089	0	0
Federal Mogul Corp	COM	313549404	272	13,820	SH		SOLE	0	13,820	0	0
Federated Investors Inc PA Cl	CL B	314211103	895	31,062	SH		SOLE	0	31,062	0	0
Fifth Third Bancorp	COM	316773100	918	43,636	SH		SOLE	0	43,636	0	0
Financial Engines Inc	COM	317485100	2,842	40,910	SH		SOLE	0	40,910	0	0
First Niagara Financial Group	COM	33582v108	4,124	388,285	SH		SOLE	0	388,285	0	0
First Solar Inc	COM	336433107	3,266	59,766	SH		SOLE	0	59,766	0	0
FirstEnergy Corp	COM	337932107	443	13,417	SH		SOLE	0	13,417	0	0
FleetMatics Group PLC	COM	g35569105	740	17,110	SH		SOLE	0	17,110	0	0
Ford Motor Co	COM PAR $0.01	345370860	251	16,256	SH		SOLE	0	16,256	0	0
Freeport-McMoran Copper & Gold	COM	35671d857	1,609	42,627	SH		SOLE	0	42,627	0	0
GenCorp Inc	COM	368682100	656	36,396	SH		SOLE	0	36,396	0	0
General Electric Co	COM	369604103	15,607	556,782	SH		SOLE	0	556,782	0	0
General Motors Co	COM	37045v100	227	5,543	SH		SOLE	0	5,543	0	0
Genpact Limited	SHS	g3922b107	1,114	60,620	SH		SOLE	0	60,620	0	0
Genuine Parts Co	COM	372460105	660	7,932	SH		SOLE	0	7,932	0	0
GNC Holdings Inc Cl A	COM CL A	36191g107	2,360	40,370	SH		SOLE	0	40,370	0	0
Goldman Sachs Group Inc	COM	38141g104	292	1,650	SH		SOLE	0	1,650	0	0
Goodyear Tire & Rubber Co	COM	382550101	1,189	49,839	SH		SOLE	0	49,839	0	0
Google Inc Cl A	CL A	38259p508	386	344	SH		SOLE	0	344	0	0
Greif Inc Cl A	CL A	397624107	2,725	52,007	SH		SOLE	0	52,007	0	0
Hanesbrands Inc	COM	410345102	3,430	48,809	SH		SOLE	0	48,809	0	0
Hanover Insurance Group Inc	COM	410867105	2,494	41,774	SH		SOLE	0	41,774	0	0
Harman Intl Industries Inc	COM	413086109	3,550	43,378	SH		SOLE	0	43,378	0	0
Harris Corp	COM	413875105	4,362	62,488	SH		SOLE	0	62,488	0	0
Hawaiian Elec Industries	COM	419870100	2,357	90,460	SH		SOLE	0	90,460	0	0
Health Net Inc	COM	42222g108	3,580	120,672	SH		SOLE	0	120,672	0	0
Helmerich & Payne Inc	COM	423452101	1,690	20,098	SH		SOLE	0	20,098	0	0
Herbalife Ltd	COM USD SHS	g4412g101	1,859	23,625	SH		SOLE	0	23,625	0	0
Hewlett Packard Co	COM	428236103	317	11,347	SH		SOLE	0	11,347	0	0
HFF Inc Cl A	CL A	40418f108	292	10,870	SH		SOLE	0	10,870	0	0
Home Depot Inc	COM	437076102	3,125	37,957	SH		SOLE	0	37,957	0	0
Homeaway Inc	COM	43739q100	2,391	58,493	SH		SOLE	0	58,493	0	0
Hub Group Inc Cl A	CL A	443320106	2,828	70,920	SH		SOLE	0	70,920	0	0
Huntington Ingalls Industries	COM	446413106	1,005	11,170	SH		SOLE	0	11,170	0	0
Hyatt Hotels Corp Cl A	COM CL A	448579102	2,162	43,713	SH		SOLE	0	43,713	0	0
ICF International Inc	COM	44925c103	573	16,520	SH		SOLE	0	16,520	0	0
IDEX Corp	COM	45167r104	972	13,160	SH		SOLE	0	13,160	0	0
iGATE Corp	COM	45169u105	796	19,820	SH		SOLE	0	19,820	0	0
Incyte Corp	COM	45337c102	2,053	40,554	SH		SOLE	0	40,554	0	0
Ingram Micro Inc Cl A	CL A	457153104	3,888	165,723	SH		SOLE	0	165,723	0	0
Insys Therapeutics Inc	COM NEW	45824v209	675	17,450	SH		SOLE	0	17,450	0	0
Intel Corp	COM	458140100	5,512	212,376	SH		SOLE	0	212,376	0	0
International Paper Co	COM	460146103	1,072	21,861	SH		SOLE	0	21,861	0	0
Intl Business Machines	COM	459200101	420	2,239	SH		SOLE	0	2,239	0	0
Jabil Circuit Inc	COM	466313103	1,583	90,747	SH		SOLE	0	90,747	0	0
Janus Cap Group Inc	COM	47102x105	2,376	192,058	SH		SOLE	0	192,058	0	0
John Bean Technologies Corp	COM	477839104	678	23,100	SH		SOLE	0	23,100	0	0
Johnson & Johnson	COM	478160104	2,428	26,508	SH		SOLE	0	26,508	0	0
JPMorgan Chase & Co	COM	46625h100	10,480	179,214	SH		SOLE	0	179,214	0	0
KeyCorp	COM	493267108	3,198	238,289	SH		SOLE	0	238,289	0	0
Kimberly Clark Corp	COM	494368103	1,348	12,908	SH		SOLE	0	12,908	0	0
Krispy Kreme Doughnuts Inc	COM	501014104	1,529	79,254	SH		SOLE	0	79,254	0	0
Kroger Co	COM	501044101	3,026	76,541	SH		SOLE	0	76,541	0	0
L-3 Communications Holdings In	COM	502424104	1,443	13,506	SH		SOLE	0	13,506	0	0
La-Z-Boy Inc	COM	505336107	809	26,090	SH		SOLE	0	26,090	0	0
Las Vegas Sands Corp	COM	517834107	234	2,964	SH		SOLE	0	2,964	0	0
Lear Corp	COM NEW	521865204	3,286	40,581	SH		SOLE	0	40,581	0	0
Leggett & Platt Inc	COM	524660107	627	20,253	SH		SOLE	0	20,253	0	0
Leidos Holdings Inc	COM	525327102	1,560	33,550	SH		SOLE	0	33,550	0	0
Lexmark Intl Cl A	CL A	529771107	592	16,667	SH		SOLE	0	16,667	0	0
LifeLock Inc	COM	53224v100	2,127	129,630	SH		SOLE	0	129,630	0	0
Lilly Eli & Co	COM	532457108	4,253	83,395	SH		SOLE	0	83,395	0	0
Lockheed Martin Corp	COM	539830109	5,472	36,809	SH		SOLE	0	36,809	0	0
Lorillard Inc	COM	544147101	1,898	37,442	SH		SOLE	0	37,442	0	0
Lumber Liquidators Holdings In	COM	55003t107	3,292	32,000	SH		SOLE	0	32,000	0	0
LyondellBasell Industries NV -	SHS - A -	n53745100	2,363	29,438	SH		SOLE	0	29,438	0	0
Magellan Health Services Inc	COM NEW	559079207	3,296	55,018	SH		SOLE	0	55,018	0	0
Maiden Holdings Ltd	SHS	g5753u112	451	41,240	SH		SOLE	0	41,240	0	0
ManpowerGroup	COM	56418h100	1,079	12,570	SH		SOLE	0	12,570	0	0
Manulife Financial Corp	COM	56501r106	210	10,653	SH		SOLE	0	10,653	0	0
Marvell Technology Group Ltd	ORD	g5876h105	2,976	206,923	SH		SOLE	0	206,923	0	0
McDonalds Corp	COM	580135101	993	10,235	SH		SOLE	0	10,235	0	0
McKesson Corp	COM	58155q103	208	1,290	SH		SOLE	0	1,290	0	0
Medtronic Inc	COM	585055106	2,025	35,287	SH		SOLE	0	35,287	0	0
Merck & Co Inc	COM	58933y105	1,166	23,305	SH		SOLE	0	23,305	0	0
Meritage Homes Corp	COM	59001a102	1,135	23,650	SH		SOLE	0	23,650	0	0
MetLife Inc	COM	59156r108	238	4,418	SH		SOLE	0	4,418	0	0
Microsoft Corp	COM	594918104	15,523	414,937	SH		SOLE	0	414,937	0	0
Minerals Technologies Inc	COM	603158106	523	8,700	SH		SOLE	0	8,700	0	0
Molina Healthcare Inc	COM	60855r100	784	22,548	SH		SOLE	0	22,548	0	0
Molson Coors Brewing Co Cl B	CL B	60871r209	676	12,036	SH		SOLE	0	12,036	0	0
Morgan Stanley	COM NEW	617446448	327	10,432	SH		SOLE	0	10,432	0	0
Mosaic Co	COM	61945c103	2,634	55,722	SH		SOLE	0	55,722	0	0
Murphy USA Inc	COM	626755102	2,786	67,030	SH		SOLE	0	67,030	0	0
Myriad Genetics Inc	COM	62855j104	2,614	124,603	SH		SOLE	0	124,603	0	0
Navigant Consulting Inc	COM	63935n107	631	32,880	SH		SOLE	0	32,880	0	0
News Corp Cl A	CL A	65249b109	1,816	100,764	SH		SOLE	0	100,764	0	0
Norfolk Southern Corp	COM	655844108	704	7,587	SH		SOLE	0	7,587	0	0
Northrop Grumman Corp	COM	666807102	2,484	21,673	SH		SOLE	0	21,673	0	0
Office Depot Inc	COM	676220106	2,316	437,742	SH		SOLE	0	437,742	0	0
Old Republic Intl Corp	COM	680223104	3,039	175,950	SH		SOLE	0	175,950	0	0
Olin Corp	COM PAR $1	680665205	1,628	56,437	SH		SOLE	0	56,437	0	0
Omnicare Inc	COM	681904108	3,407	56,440	SH		SOLE	0	56,440	0	0
Oracle Corp	COM	68389x105	9,781	255,638	SH		SOLE	0	255,638	0	0
Orient-Express Hotels Ltd Cl A	CL A	g67743107	1,592	105,369	SH		SOLE	0	105,369	0	0
Otter Tail Corp	COM	689648103	622	21,250	SH		SOLE	0	21,250	0	0
Overstock.com Inc	COM	690370101	656	21,310	SH		SOLE	0	21,310	0	0
Owens & Minor Inc	COM	690732102	2,968	81,185	SH		SOLE	0	81,185	0	0
Parker Drilling Co	COM	701081101	222	27,300	SH		SOLE	0	27,300	0	0
PBF Energy Inc Cl A	CL A	69318g106	282	8,950	SH		SOLE	0	8,950	0	0
PDL Biopharma Inc	COM	69329y104	2,475	293,204	SH		SOLE	0	293,204	0	0
Pegasystems Inc	COM	705573103	666	13,550	SH		SOLE	0	13,550	0	0
Penn Natl Gaming Inc	COM	707569109	596	41,578	SH		SOLE	0	41,578	0	0
PepsiCo Inc	COM	713448108	250	3,011	SH		SOLE	0	3,011	0	0
PetSmart Inc	COM	716768106	2,922	40,171	SH		SOLE	0	40,171	0	0
Pfizer Inc	COM	717081103	8,130	265,423	SH		SOLE	0	265,423	0	0
Philip Morris Intl Inc	COM	718172109	478	5,483	SH		SOLE	0	5,483	0	0
Phillips 66	COM	718546104	3,902	50,594	SH		SOLE	0	50,594	0	0
Pilgrims Pride Corp	COM	72147k108	3,136	192,972	SH		SOLE	0	192,972	0	0
PNC Financial Services Group I	COM	693475105	1,383	17,826	SH		SOLE	0	17,826	0	0
Price T Rowe Group Inc	COM	74144t108	6,141	73,303	SH		SOLE	0	73,303	0	0
Procter & Gamble Co	COM	742718109	1,127	13,837	SH		SOLE	0	13,837	0	0
Prudential Financial Inc	COM	744320102	259	2,808	SH		SOLE	0	2,808	0	0
Public Service Enterprise Grou	COM	744573106	1,120	34,953	SH		SOLE	0	34,953	0	0
Pulte Group	COM	745867101	5,186	254,609	SH		SOLE	0	254,609	0	0
Quad / Graphics Inc Cl A	COM CL A	747301109	630	23,120	SH		SOLE	0	23,120	0	0
Qualcomm Inc	COM	747525103	4,424	59,580	SH		SOLE	0	59,580	0	0
Questcor Pharmaceuticals Inc	COM	74835y101	2,549	46,808	SH		SOLE	0	46,808	0	0
Raytheon Co	COM NEW	755111507	4,096	45,162	SH		SOLE	0	45,162	0	0
Regal Entertainment Group Cl A	CL A	758766109	244	12,545	SH		SOLE	0	12,545	0	0
Regions Financial Corp	COM	7591ep100	3,119	315,370	SH		SOLE	0	315,370	0	0
Reinsurance Group America Inc	COM NEW	759351604	1,500	19,378	SH		SOLE	0	19,378	0	0
Rite Aid Corp	COM	767754104	2,725	538,572	SH		SOLE	0	538,572	0	0
Robert Half Intl Inc	COM	770323103	1,371	32,653	SH		SOLE	0	32,653	0	0
Rock-Tenn Co Cl A	CL A	772739207	3,116	29,675	SH		SOLE	0	29,675	0	0
Rockwell Collins Inc	COM	774341101	1,593	21,554	SH		SOLE	0	21,554	0	0
Royal Bank of Canada Montreal	COM	780087102	314	4,677	SH		SOLE	0	4,677	0	0
RPC Inc	COM	749660106	914	51,195	SH		SOLE	0	51,195	0	0
RPX Corp	COM	74972g103	597	35,310	SH		SOLE	0	35,310	0	0
Ryder Systems Inc	COM	783549108	323	4,374	SH		SOLE	0	4,374	0	0
Sanderson Farms Inc	COM	800013104	2,281	31,530	SH		SOLE	0	31,530	0	0
Sanmina Corporation	COM	801056102	2,548	152,553	SH		SOLE	0	152,553	0	0
ScanSource Inc	COM	806037107	608	14,340	SH		SOLE	0	14,340	0	0
Schlumberger Ltd	COM	806857108	3,218	35,707	SH		SOLE	0	35,707	0	0
Scientific Games Corp Cl A	CL A	80874p109	584	34,490	SH		SOLE	0	34,490	0	0
Scotts Miracle-Gro Co Cl A	CL A	810186106	534	8,589	SH		SOLE	0	8,589	0	0
Seacor Holdings Inc	COM	811904101	1,969	21,589	SH		SOLE	0	21,589	0	0
Sealed Air Corp	COM	81211k100	2,979	87,485	SH		SOLE	0	87,485	0	0
Seattle Genetics Inc	COM	812578102	686	17,190	SH		SOLE	0	17,190	0	0
SEI Investments Co	COM	784117103	729	20,982	SH		SOLE	0	20,982	0	0
Selective Insurance Group Inc	COM	816300107	516	19,066	SH		SOLE	0	19,066	0	0
Silver Spring Networks Inc	COM	82817q103	664	31,630	SH		SOLE	0	31,630	0	0
SkyWest Inc	COM	830879102	487	32,825	SH		SOLE	0	32,825	0	0
Skyworks Solutions Inc	COM	83088m102	2,422	84,803	SH		SOLE	0	84,803	0	0
SM Energy Co	COM	78454l100	1,188	14,290	SH		SOLE	0	14,290	0	0
SolarWinds Inc	COM	83416b109	1,845	48,780	SH		SOLE	0	48,780	0	0
Sonoco Prods Co	COM	835495102	2,985	71,550	SH		SOLE	0	71,550	0	0
Southwest Airlines Co	COM	844741108	2,313	122,755	SH		SOLE	0	122,755	0	0
Staples Inc	COM	855030102	2,376	149,527	SH		SOLE	0	149,527	0	0
Starz Liberty Cap A	COM SER A	85571q102	542	18,543	SH		SOLE	0	18,543	0	0
SunPower Corp	COM	867652406	673	22,560	SH		SOLE	0	22,560	0	0
Super Micro Computer Inc	COM	86800u104	706	41,130	SH		SOLE	0	41,130	0	0
Susquehanna Bancshares Inc PA	COM	869099101	3,880	302,201	SH		SOLE	0	302,201	0	0
Sysco Corp	COM	871829107	754	20,884	SH		SOLE	0	20,884	0	0
Tech Data Corp	COM	878237106	2,260	43,794	SH		SOLE	0	43,794	0	0
TECO Energy Inc	COM	872375100	729	42,293	SH		SOLE	0	42,293	0	0
Tenneco Inc	COM	880349105	1,333	23,567	SH		SOLE	0	23,567	0	0
Tetra Tech Inc	COM	88162g103	886	31,678	SH		SOLE	0	31,678	0	0
Thomson Reuters Corp	COM	884903105	1,084	28,650	SH		SOLE	0	28,650	0	0
Tivo Inc	COM	888706108	1,696	129,264	SH		SOLE	0	129,264	0	0
Toronto Dominion Bank Ont	COM NEW	891160509	278	2,950	SH		SOLE	0	2,950	0	0
Travelers Companies Inc	COM	89417e109	989	10,919	SH		SOLE	0	10,919	0	0
Tuesday Morning Corp	COM NEW	899035505	685	42,908	SH		SOLE	0	42,908	0	0
Tyson Foods Inc Cl A	CL A	902494103	1,253	37,451	SH		SOLE	0	37,451	0	0
UBS AG	SHS NEW	h89231338	448	23,287	SH		SOLE	0	23,287	0	0
UGI Corp	COM	902681105	3,280	79,123	SH		SOLE	0	79,123	0	0
Union Pacific Corp	COM	907818108	2,290	13,630	SH		SOLE	0	13,630	0	0
United Parcel Service Inc Cl B	CL B	911312106	807	7,681	SH		SOLE	0	7,681	0	0
United States Cellular Corp	COM	911684108	966	23,092	SH		SOLE	0	23,092	0	0
United Stationers Inc	COM	913004107	1,036	22,567	SH		SOLE	0	22,567	0	0
United Technologies Corp	COM	913017109	227	1,995	SH		SOLE	0	1,995	0	0
United Therapeutics Corp	COM	91307c102	3,455	30,555	SH		SOLE	0	30,555	0	0
UnitedHealth Group Inc	COM	91324p102	2,749	36,509	SH		SOLE	0	36,509	0	0
Universal Forest Prods Inc	COM	913543104	608	11,660	SH		SOLE	0	11,660	0	0
URS Corp	COM	903236107	1,332	25,128	SH		SOLE	0	25,128	0	0
Valero Energy Corp	COM	91913y100	5,329	105,732	SH		SOLE	0	105,732	0	0
Valmont Industries Inc	COM	920253101	330	2,215	SH		SOLE	0	2,215	0	0
Vectren Corp	COM	92240g101	2,373	66,840	SH		SOLE	0	66,840	0	0
Verisk Analytics Inc Cl A	CL A	92345y106	766	11,660	SH		SOLE	0	11,660	0	0
Verizon Communications Inc	COM	92343v104	6,578	133,858	SH		SOLE	0	133,858	0	0
VMware Inc Cl A	CL A COM	928563402	873	9,729	SH		SOLE	0	9,729	0	0
Wal-Mart Stores Inc	COM	931142103	1,561	19,833	SH		SOLE	0	19,833	0	0
Wellcare Health Plans Inc	COM	94946t106	3,487	49,521	SH		SOLE	0	49,521	0	0
Wells Fargo & Co	COM	949746101	8,340	183,690	SH		SOLE	0	183,690	0	0
Wendys Co	COM	95058w100	1,345	154,190	SH		SOLE	0	154,190	0	0
WesBanco Inc	COM	950810101	998	31,190	SH		SOLE	0	31,190	0	0
Western Refining Inc	COM	959319104	2,915	68,728	SH		SOLE	0	68,728	0	0
Western Union Co	COM	959802109	1,066	61,789	SH		SOLE	0	61,789	0	0
WisdomTree Inv Inc	COM	97717p104	1,635	92,325	SH		SOLE	0	92,325	0	0
World Fuel Services Corp	COM	981475106	2,510	58,163	SH		SOLE	0	58,163	0	0
WSFS Financial Corp	COM	929328102	1,009	13,020	SH		SOLE	0	13,020	0	0
Xoom Corp	COM	98419q101	321	11,720	SH		SOLE	0	11,720	0	0
ABB Ltd Sp ADR	SPONSORED ADR	000375204	992	37,356	SH		SOLE	0	37,356	0	0
Adidas AG ADR	ADR	00687a107	246	3,862	SH		SOLE	0	3,862	0	0
Aegon NV NY Reg Shs	NY REGISTRY SH	007924103	149	15,765	SH		SOLE	0	15,765	0	0
AIA Group Ltd Sp ADR	ADR	001317205	309	15,384	SH		SOLE	0	15,384	0	0
Allianz SE Sp ADR	ADR	018805101	470	26,174	SH		SOLE	0	26,174	0	0
Ambev SA Sp ADR	SPONSORED ADR	02319v103	190	25,867	SH		SOLE	0	25,867	0	0
Anheuser-Busch InBev SA NV Sp	SPONSORED ADR	03524a108	555	5,210	SH		SOLE	0	5,210	0	0
AstraZeneca PLC Sp ADR	SPONSORED ADR	046353108	289	4,867	SH		SOLE	0	4,867	0	0
Australia & New Zealand Bankin	ADR	052528304	249	8,651	SH		SOLE	0	8,651	0	0
Aviva PLC ADR	ADR	05382a104	181	11,954	SH		SOLE	0	11,954	0	0
AXA SA Sp ADR	ADR	054536107	336	12,082	SH		SOLE	0	12,082	0	0
Banco Bilbao Vizcaya Argentari	SPONSORED ADR	05946k101	244	19,681	SH		SOLE	0	19,681	0	0
Banco Santander SA ADR	ADR	05964h105	328	36,129	SH		SOLE	0	36,129	0	0
Barclays PLC ADR	ADR	06738e204	233	12,845	SH		SOLE	0	12,845	0	0
BASF SE Sp ADR	ADR	055262505	452	4,234	SH		SOLE	0	4,234	0	0
Bayer AG Sp ADR	ADR	072730302	440	3,134	SH		SOLE	0	3,134	0	0
BHP Billiton Ltd Sp ADR	SPONSORED ADR	088606108	497	7,293	SH		SOLE	0	7,293	0	0
BHP Billiton PLC Sp ADR	SPONSORED ADR	05545e209	300	4,826	SH		SOLE	0	4,826	0	0
BNP Paribas Sp ADR	ADR	05565a202	310	7,939	SH		SOLE	0	7,939	0	0
BP PLC Sp ADR	SPONSORED ADR	055622104	306	6,304	SH		SOLE	0	6,304	0	0
British American Tobacco PLC S	SPONSORED ADR	110448107	346	3,225	SH		SOLE	0	3,225	0	0
Carrefour SA Sp ADR	ADR	144430204	174	22,115	SH		SOLE	0	22,115	0	0
China Mobile Limited Sp ADR	SPONSORED ADR	16941m109	426	8,140	SH		SOLE	0	8,140	0	0
Credit Suisse Group Sp ADR	SPONSORED ADR	225401108	290	9,332	SH		SOLE	0	9,332	0	0
Daimler AG Sp ADR	ADR	233825108	408	4,707	SH		SOLE	0	4,707	0	0
Diageo PLC Sp ADR	SPON ADR NEW	25243q205	282	2,129	SH		SOLE	0	2,129	0	0
Ericsson ADR B	ADR B SEK 10	294821608	157	12,845	SH		SOLE	0	12,845	0	0
Experian PLC Sp ADR	ADR	30215c101	270	14,619	SH		SOLE	0	14,619	0	0
Fresenius Med Care AG & Co KGA	SPONSORED ADR	358029106	238	6,677	SH		SOLE	0	6,677	0	0
Gazprom OAO Sp ADR	ADR	368287207	182	21,563	SH		SOLE	0	21,563	0	0
GDF Suez Sp ADR	ADR	36160b105	289	12,286	SH		SOLE	0	12,286	0	0
GlaxoSmithKline PLC Sp ADR	SPONSORED ADR	37733w105	506	9,472	SH		SOLE	0	9,472	0	0
Grana Y Montero SA A Sp ADR	SPONSORED ADR	38500p208	211	9,954	SH		SOLE	0	9,954	0	0
Henderson Land Development Ltd	ADR	425166303	142	24,796	SH		SOLE	0	24,796	0	0
Honda Motor Ltd American	AMERN SHS	438128308	368	8,893	SH		SOLE	0	8,893	0	0
HSBC Holdings PLC Sp ADR	SPON ADR NEW	404280406	674	12,226	SH		SOLE	0	12,226	0	0
ING Groep NV Sp ADR	SPONSORED ADR	456837103	330	23,588	SH		SOLE	0	23,588	0	0
Kingfisher PLC Sp ADR	ADR	495724403	246	19,287	SH		SOLE	0	19,287	0	0
Koninklijke Philips NV	NY REG SH NEW	500472303	591	15,994	SH		SOLE	0	15,994	0	0
Korea Electric Power Sp ADR	SPONSORED ADR	500631106	220	13,240	SH		SOLE	0	13,240	0	0
Lloyds Banking Group PLC Sp AD	SPONSORED ADR	539439109	299	56,137	SH		SOLE	0	56,137	0	0
Luxottica Group SPA Sp ADR	SPONSORED ADR	55068r202	239	4,435	SH		SOLE	0	4,435	0	0
Marks & Spencer Group PLC Sp A	ADR	570912105	168	11,741	SH		SOLE	0	11,741	0	0
Mitsubishi UFJ Financial Group	SPONSORED ADR	606822104	306	45,746	SH		SOLE	0	45,746	0	0
Mizuho Financial Group Inc Sp	SPONSORED ADR	60687y109	187	42,826	SH		SOLE	0	42,826	0	0
National Australia Bank Ltd Sp	ADR	632525408	238	7,643	SH		SOLE	0	7,643	0	0
National Grid PLC Sp ADR	SPON ADR NEW	636274300	474	7,258	SH		SOLE	0	7,258	0	0
Nestle SA Sp ADR	ADR	641069406	752	10,239	SH		SOLE	0	10,239	0	0
Nidec Corp Sp ADR	SPONSORED ADR	654090109	246	9,961	SH		SOLE	0	9,961	0	0
Nokia Corp Sp ADR	SPONSORED ADR	654902204	114	14,096	SH		SOLE	0	14,096	0	0
Nomura Holdings Inc Sp ADR	SPONSORED ADR	65535h208	187	24,049	SH		SOLE	0	24,049	0	0
Novartis AG Sp ADR	SPONSORED ADR	66987v109	785	9,765	SH		SOLE	0	9,765	0	0
Novo-Nordisk AS ADR	ADR	670100205	317	1,717	SH		SOLE	0	1,717	0	0
Panasonic Corp ADR	ADR	69832a205	255	21,868	SH		SOLE	0	21,868	0	0
Prudential PLC ADR	ADR	74435k204	326	7,245	SH		SOLE	0	7,245	0	0
Reckitt Benckiser PLC Sp ADR	ADR	756255204	368	23,174	SH		SOLE	0	23,174	0	0
Rio Tinto PLC Sp ADR	SPONSORED ADR	767204100	359	6,362	SH		SOLE	0	6,362	0	0
Roche Holding Ltd Sp ADR	ADR	771195104	742	10,599	SH		SOLE	0	10,599	0	0
Royal Bank Scotland Group PLC	SPONS ADR 20 ORD	780097689	117	10,341	SH		SOLE	0	10,341	0	0
Royal Dutch Shell PLC Sp ADR A	SPONS ADR A	780259206	281	3,949	SH		SOLE	0	3,949	0	0
Royal Dutch Shell PLC Sp ADR B	SPON ADR B	780259107	202	2,696	SH		SOLE	0	2,696	0	0
SABMiller PLC Sp ADR	ADR	78572m105	281	5,472	SH		SOLE	0	5,472	0	0
Sanofi Sp ADR	SPONSORED ADR	80105n105	541	10,089	SH		SOLE	0	10,089	0	0
SAP AG Sp ADR	SPON ADR	803054204	294	3,371	SH		SOLE	0	3,371	0	0
Sberbank Russia Sp ADR	ADR	80585y308	197	16,030	SH		SOLE	0	16,030	0	0
Siemens AG Sp ADR	SPONSORED ADR	826197501	1,888	13,630	SH		SOLE	0	13,630	0	0
Sumitomo Mitsui Financial Grou	SPONSORED ADR	86562m209	247	23,513	SH		SOLE	0	23,513	0	0
Tesco PLC Sp ADR	ADR	881575302	271	16,286	SH		SOLE	0	16,286	0	0
Total SA Sp ADR	SPONSORED ADR	89151e109	292	4,765	SH		SOLE	0	4,765	0	0
Toyota Motor Corp Sp ADR 2	SP ADR REP2COM	892331307	953	7,816	SH		SOLE	0	7,816	0	0
Unilever NV NY	N Y SHS NEW	904784709	245	6,079	SH		SOLE	0	6,079	0	0
Vale SA ADR	ADR	91912e105	208	13,664	SH		SOLE	0	13,664	0	0
Vodafone Group PLC Sp ADR	SPONS ADR NEW	92857w209	407	10,358	SH		SOLE	0	10,358	0	0
Volkswagen AG Sp ADR	ADR	928662303	383	7,066	SH		SOLE	0	7,066	0	0
Wal-Mart de Mexico SAB de CV S	ADR	93114w107	231	8,835	SH		SOLE	0	8,835	0	0
Westpac Banking Corp Sp ADR	SPONSORED ADR	961214301	290	9,992	SH		SOLE	0	9,992	0	0
American Assets Tr Inc	COM	024013104	877	27,890	SH		SOLE	0	27,890	0	0
Camden Property Trust	SH BEN INT	133131102	864	15,190	SH		SOLE	0	15,190	0	0
CBL & Assoc Properties Inc	COM	124830100	467	25,979	SH		SOLE	0	25,979	0	0
Digital Realty Trust Inc	COM	253868103	387	7,877	SH		SOLE	0	7,877	0	0
DuPont Fabros Technology Inc	COM	26613q106	2,694	109,029	SH		SOLE	0	109,029	0	0
EastGroup Property Inc	COM	277276101	1,255	21,669	SH		SOLE	0	21,669	0	0
Extra Space Storage Inc	COM	30225t102	1,491	35,391	SH		SOLE	0	35,391	0	0
Government Properties Income T	COM SHS BEN INT	38376a103	1,328	53,430	SH		SOLE	0	53,430	0	0
Home Properties Inc	COM	437306103	2,580	48,116	SH		SOLE	0	48,116	0	0
Investors Real Estate Tr	SH BEN INT	461730103	903	105,270	SH		SOLE	0	105,270	0	0
Kimco Realty Corp	COM	49446r109	449	22,711	SH		SOLE	0	22,711	0	0
National Retail Properties Inc	COM	637417106	1,279	42,170	SH		SOLE	0	42,170	0	0
Piedmont Office Realty Trust I	COM CL A	720190206	1,261	76,313	SH		SOLE	0	76,313	0	0
Plum Creek Timber Co Inc	COM	729251108	847	18,210	SH		SOLE	0	18,210	0	0
Potlatch Corp	COM	737630103	2,228	53,380	SH		SOLE	0	53,380	0	0
ProLogis Inc	COM	74340w103	401	10,859	SH		SOLE	0	10,859	0	0
Public Storage	COM	74460d109	1,109	7,364	SH		SOLE	0	7,364	0	0
Rayonier Inc	COM	754907103	571	13,569	SH		SOLE	0	13,569	0	0
Tanger Factory Outlet Centers	COM	875465106	2,061	64,371	SH		SOLE	0	64,371	0	0
Weyerhaeuser Co	COM	962166104	849	26,882	SH		SOLE	0	26,882	0	0