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
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	88579y101	4,889	34,509	SH		SOLE	0	34,509	0	0
AAR Corp	COM	000361105	1,143	47,310	SH		SOLE	0	47,310	0	0
AECOM Technology Corp Delaware	COM	00766t100	1,066	31,582	SH		SOLE	0	31,582	0	0
AES Corp	COM	00130h105	2,001	141,145	SH		SOLE	0	141,145	0	0
Aetna Inc	COM	00817y108	2,999	37,023	SH		SOLE	0	37,023	0	0
Aflac Inc	COM	001055102	234	4,021	SH		SOLE	0	4,021	0	0
AGL Resources Inc	COM	001204106	4,296	83,677	SH		SOLE	0	83,677	0	0
Alaska Air Group Inc	COM	011659109	1,848	42,451	SH		SOLE	0	42,451	0	0
Albemarle Corp	COM	012653101	2,217	37,648	SH		SOLE	0	37,648	0	0
Alexion Pharmaceuticals Inc	COM	015351109	851	5,135	SH		SOLE	0	5,135	0	0
Alon USA Energy Inc	COM	020520102	1,276	88,855	SH		SOLE	0	88,855	0	0
Altria Group Inc	COM	02209s103	4,106	89,387	SH		SOLE	0	89,387	0	0
Amdocs Ltd	SHS	g02602103	2,415	52,635	SH		SOLE	0	52,635	0	0
American Electric Power Inc	COM	025537101	1,041	19,929	SH		SOLE	0	19,929	0	0
American Railcar Industries In	COM	02916p103	918	12,425	SH		SOLE	0	12,425	0	0
AmerisourceBergen Corp	COM	03073e105	2,242	29,005	SH		SOLE	0	29,005	0	0
Amkor Technology Inc	COM	031652100	1,857	220,861	SH		SOLE	0	220,861	0	0
AmTrust Financial Services Inc	COM	032359309	3,551	89,177	SH		SOLE	0	89,177	0	0
Apple Inc	COM	037833100	12,232	121,406	SH		SOLE	0	121,406	0	0
Arcbest Corp	COM	03937c105	1,053	28,238	SH		SOLE	0	28,238	0	0
Archer Daniels Midland Co	COM	039483102	2,761	54,028	SH		SOLE	0	54,028	0	0
Argo Group Intl Holdings Ltd	COM	g0464b107	984	19,550	SH		SOLE	0	19,550	0	0
Aspen Technology Inc	COM	045327103	1,955	51,819	SH		SOLE	0	51,819	0	0
Associated Banc Corp	COM	045487105	2,840	163,054	SH		SOLE	0	163,054	0	0
Assurant Inc	COM	04621x108	2,802	43,575	SH		SOLE	0	43,575	0	0
AT&T Inc	COM	00206r102	5,929	168,236	SH		SOLE	0	168,236	0	0
Avis Budget Group	COM	053774105	2,321	42,285	SH		SOLE	0	42,285	0	0
Avista Corp	COM	05379b107	3,374	110,520	SH		SOLE	0	110,520	0	0
Ball Corp	COM	058498106	2,782	43,970	SH		SOLE	0	43,970	0	0
Bank of America Corporation	COM	060505104	5,200	304,987	SH		SOLE	0	304,987	0	0
Bank of New York Mellon Corp	COM	064058100	4,428	114,339	SH		SOLE	0	114,339	0	0
Banner Corp	COM NEW	06652v208	1,172	30,465	SH		SOLE	0	30,465	0	0
Bard C R Inc	COM	067383109	2,263	15,860	SH		SOLE	0	15,860	0	0
Barnes & Noble Inc	COM	067774109	830	42,053	SH		SOLE	0	42,053	0	0
Basic Energy Services Inc	COM	06985p100	965	44,484	SH		SOLE	0	44,484	0	0
Baxter Intl Inc	COM	071813109	1,045	14,563	SH		SOLE	0	14,563	0	0
Berkshire Hathaway Inc Cl B	CL B NEW	084670702	563	4,076	SH		SOLE	0	4,076	0	0
Big Lots Inc	COM	089302103	2,482	57,653	SH		SOLE	0	57,653	0	0
Biogen IDEC Inc	COM	09062x103	2,487	7,518	SH		SOLE	0	7,518	0	0
BlackRock Inc	COM	09247x101	1,015	3,090	SH		SOLE	0	3,090	0	0
Blount Intl Inc	COM	095180105	1,496	98,847	SH		SOLE	0	98,847	0	0
Boeing Co	COM	097023105	2,277	17,879	SH		SOLE	0	17,879	0	0
Bofi Holding Inc	COM	05566u108	2,525	34,725	SH		SOLE	0	34,725	0	0
Boston Private Financial Holdi	COM	101119105	1,515	122,250	SH		SOLE	0	122,250	0	0
Briggs & Stratton Corp	COM	109043109	1,536	85,253	SH		SOLE	0	85,253	0	0
Bright Horizons Fam Sol In Del	COM	109194100	1,286	30,578	SH		SOLE	0	30,578	0	0
Brookfield Asset Mgmt Inc Cl A	CL A LTD VT SH	112585104	467	10,393	SH		SOLE	0	10,393	0	0
CA Inc	COM	12673p105	1,446	51,761	SH		SOLE	0	51,761	0	0
Cablevision Systems Corp Cl A	CL A NY CABLVS	12686c109	3,581	204,535	SH		SOLE	0	204,535	0	0
Cardinal Health Inc	COM	14149y108	1,374	18,345	SH		SOLE	0	18,345	0	0
Cash American International In	COM	14754d100	905	20,651	SH		SOLE	0	20,651	0	0
Caterpillar Inc	COM	149123101	6,314	63,761	SH		SOLE	0	63,761	0	0
Celanese Corp Ser A	COM SER A	150870103	2,507	42,836	SH		SOLE	0	42,836	0	0
Centene Corp	COM	15135b101	4,646	56,174	SH		SOLE	0	56,174	0	0
Central Pac Financial Corp	COM NEW	154760409	1,195	66,636	SH		SOLE	0	66,636	0	0
CenturyLink Inc	COM	156700106	859	21,013	SH		SOLE	0	21,013	0	0
Chemed Corp	COM	16359r103	764	7,422	SH		SOLE	0	7,422	0	0
Chevron Corp	COM	166764100	3,452	28,933	SH		SOLE	0	28,933	0	0
Chipotle Mexican Grill Inc	COM	169656105	795	1,192	SH		SOLE	0	1,192	0	0
Cincinnati Bell Inc	COM	171871106	917	272,130	SH		SOLE	0	272,130	0	0
Cintas Corp	COM	172908105	1,062	15,040	SH		SOLE	0	15,040	0	0
Cisco Systems Inc	COM	17275r102	2,335	92,786	SH		SOLE	0	92,786	0	0
Citigroup Inc	COM NEW	172967424	647	12,480	SH		SOLE	0	12,480	0	0
Citrix Systems Inc	COM	177376100	1,095	15,351	SH		SOLE	0	15,351	0	0
Civeo Corp	COM	178787107	754	64,930	SH		SOLE	0	64,930	0	0
Clearwater Paper Corp	COM	18538r103	1,395	23,210	SH		SOLE	0	23,210	0	0
Cliffs Natural Resources Inc	COM	18683k101	1,809	174,250	SH		SOLE	0	174,250	0	0
Clorox Co	COM	189054109	763	7,949	SH		SOLE	0	7,949	0	0
ClubCorp Holdings Inc	COM	18948m108	812	40,964	SH		SOLE	0	40,964	0	0
Coca-Cola Co	COM	191216100	283	6,626	SH		SOLE	0	6,626	0	0
Cognizant Technology Solutions	CL A	192446102	895	19,984	SH		SOLE	0	19,984	0	0
Cohen & Steers Inc	COM	19247a100	1,188	30,900	SH		SOLE	0	30,900	0	0
Comcast Corp Cl A	CL A	20030n101	888	16,506	SH		SOLE	0	16,506	0	0
Comerica Inc	COM	200340107	681	13,666	SH		SOLE	0	13,666	0	0
Conagra Foods Inc	COM	205887102	1,080	32,683	SH		SOLE	0	32,683	0	0
ConocoPhillips	COM	20825c104	6,531	85,347	SH		SOLE	0	85,347	0	0
Consolidated Edison Inc	COM	209115104	1,902	33,560	SH		SOLE	0	33,560	0	0
Constant Contact Inc	COM	210313102	1,190	43,860	SH		SOLE	0	43,860	0	0
Copa Holdings SA Cl A	CL A	p31076105	1,060	9,878	SH		SOLE	0	9,878	0	0
Core Mark Holding Co Inc	COM	218681104	1,279	24,107	SH		SOLE	0	24,107	0	0
Coty Inc Cl A	COM CL A	222070203	1,482	89,528	SH		SOLE	0	89,528	0	0
Cracker Barrel Old Country Sto	COM	22410j106	782	7,583	SH		SOLE	0	7,583	0	0
CVS Health Corporation	COM	126650100	4,453	55,951	SH		SOLE	0	55,951	0	0
Danaher Corp	COM	235851102	4,317	56,823	SH		SOLE	0	56,823	0	0
Delta Air Lines Inc	COM NEW	247361702	2,343	64,807	SH		SOLE	0	64,807	0	0
Diamond Resorts Intl Inc	COM	25272t104	580	25,470	SH		SOLE	0	25,470	0	0
Dice Holdings Inc	COM	253017107	991	118,278	SH		SOLE	0	118,278	0	0
DineEquity Inc	COM	254423106	1,024	12,550	SH		SOLE	0	12,550	0	0
Discover Financial Services	COM	254709108	3,695	57,382	SH		SOLE	0	57,382	0	0
Disney Walt Co Disney	COM DISNEY	254687106	4,466	50,162	SH		SOLE	0	50,162	0	0
Dolby Laboratories Inc	COM	25659t107	2,649	63,389	SH		SOLE	0	63,389	0	0
Dollar General Corp	COM	256677105	2,945	48,185	SH		SOLE	0	48,185	0	0
Donnelley R R & Sons Co	COM	257867101	855	51,957	SH		SOLE	0	51,957	0	0
Douglas Dynamics Inc	COM	25960r105	870	44,598	SH		SOLE	0	44,598	0	0
Dover Corp	COM	260003108	964	12,004	SH		SOLE	0	12,004	0	0
Dow Chemical Co	COM	260543103	4,125	78,660	SH		SOLE	0	78,660	0	0
Echo Global Logistics Inc	COM	27875t101	1,413	59,985	SH		SOLE	0	59,985	0	0
Edwards Lifesciences Corp	COM	28176e108	3,123	30,570	SH		SOLE	0	30,570	0	0
Electronic Arts Inc	COM	285512109	1,217	34,186	SH		SOLE	0	34,186	0	0
Eli Lilly & Co	COM	532457108	4,481	69,090	SH		SOLE	0	69,090	0	0
Emergent Biosolutions Inc	COM	29089q105	1,250	58,672	SH		SOLE	0	58,672	0	0
Emulex Corp	COM NEW	292475209	1,594	322,755	SH		SOLE	0	322,755	0	0
Enanta Pharmaceuticals Inc	COM	29251m106	2,102	53,130	SH		SOLE	0	53,130	0	0
Engility Holdings Inc	COM	29285w104	1,012	32,470	SH		SOLE	0	32,470	0	0
Ensco PLC Class A	SHS CLASS A	g3157s106	615	14,883	SH		SOLE	0	14,883	0	0
Entergy Corp	COM	29364g103	3,979	51,460	SH		SOLE	0	51,460	0	0
EPAM Systems Inc	COM	29414b104	2,319	52,950	SH		SOLE	0	52,950	0	0
ESCO Technologies Inc	COM	296315104	1,155	33,220	SH		SOLE	0	33,220	0	0
Everest Reinsurance Group Ltd	COM	g3223r108	3,127	19,302	SH		SOLE	0	19,302	0	0
Exelon Corp	COM	30161n101	1,072	31,446	SH		SOLE	0	31,446	0	0
Expedia Inc	COM NEW	30212p303	3,148	35,933	SH		SOLE	0	35,933	0	0
Exxon Mobil Corp	COM	30231g102	13,491	143,446	SH		SOLE	0	143,446	0	0
Facebook Inc Cl A	CL A	30303m102	4,320	54,661	SH		SOLE	0	54,661	0	0
Fifth Third Bancorp	COM	316773100	898	44,831	SH		SOLE	0	44,831	0	0
First Citizens Bancshares Inc	CL A	31946m103	1,590	7,340	SH		SOLE	0	7,340	0	0
First Niagara Financial Group	COM	33582v108	919	110,344	SH		SOLE	0	110,344	0	0
Foot Locker Inc	COM	344849104	2,612	46,928	SH		SOLE	0	46,928	0	0
Ford Motor Co	COM PAR $0.01	345370860	245	16,580	SH		SOLE	0	16,580	0	0
Foster Wheeler AG	COM	h27178104	411	12,989	SH		SOLE	0	12,989	0	0
FREEPORT-MCMORAN INC CL B	CL B	35671d857	787	24,115	SH		SOLE	0	24,115	0	0
Garmin Ltd	SHS	h2906t109	561	10,798	SH		SOLE	0	10,798	0	0
General Electric Co	COM	369604103	14,833	578,950	SH		SOLE	0	578,950	0	0
General Motors Co	COM	37045v100	212	6,637	SH		SOLE	0	6,637	0	0
Gentherm Inc	COM	37253a103	761	18,019	SH		SOLE	0	18,019	0	0
Gilead Sciences Inc	COM	375558103	8,310	78,065	SH		SOLE	0	78,065	0	0
Globus Med Inc Cl A	CL A	379577208	2,178	110,730	SH		SOLE	0	110,730	0	0
Goldman Sachs Group Inc	COM	38141g104	260	1,417	SH		SOLE	0	1,417	0	0
Google Inc Cl A	CL A	38259p508	5,364	9,116	SH		SOLE	0	9,116	0	0
Google Inc Cl C	CL C	38259p706	328	568	SH		SOLE	0	568	0	0
Graphic Packaging Holding Co	COM	388689101	1,167	93,886	SH		SOLE	0	93,886	0	0
Greatbatch Inc	COM	39153l106	1,342	31,486	SH		SOLE	0	31,486	0	0
Green Plains Renewable Energy	COM	393222104	3,897	104,234	SH		SOLE	0	104,234	0	0
Greenbrier Cos Inc	COM	393657101	3,179	43,318	SH		SOLE	0	43,318	0	0
Group 1 Automotive Inc	COM	398905109	4,149	57,057	SH		SOLE	0	57,057	0	0
Halliburton Co	COM	406216101	3,477	53,891	SH		SOLE	0	53,891	0	0
Hanesbrands Inc	COM	410345102	1,052	9,789	SH		SOLE	0	9,789	0	0
Hanmi Financial Corp	COM NEW	410495204	1,049	52,047	SH		SOLE	0	52,047	0	0
Hanover Insurance Group Inc	COM	410867105	1,438	23,409	SH		SOLE	0	23,409	0	0
Harman Intl Industries Inc	COM	413086109	3,697	37,706	SH		SOLE	0	37,706	0	0
Health Net Inc	COM	42222g108	4,599	99,740	SH		SOLE	0	99,740	0	0
Helmerich & Payne Inc	COM	423452101	3,493	35,694	SH		SOLE	0	35,694	0	0
Hewlett Packard Co	COM	428236103	5,353	150,913	SH		SOLE	0	150,913	0	0
Home Depot Inc	COM	437076102	2,847	31,032	SH		SOLE	0	31,032	0	0
Huntington Bancshares Inc	COM	446150104	830	85,314	SH		SOLE	0	85,314	0	0
Huntington Ingalls Industries	COM	446413106	1,706	16,371	SH		SOLE	0	16,371	0	0
Hyatt Hotels Corp Cl A	COM CL A	448579102	3,038	50,192	SH		SOLE	0	50,192	0	0
IDEX Corp	COM	45167r104	1,209	16,710	SH		SOLE	0	16,710	0	0
Insight Enterprises Inc	COM	45765u103	1,137	50,229	SH		SOLE	0	50,229	0	0
Insurance Holdings Inc	COM	91359v107	1,169	90,387	SH		SOLE	0	90,387	0	0
Integrated Device Technology	COM	458118106	2,999	188,045	SH		SOLE	0	188,045	0	0
Intel Corp	COM	458140100	7,040	202,170	SH		SOLE	0	202,170	0	0
International Bancshares Corp	COM	459044103	1,666	67,526	SH		SOLE	0	67,526	0	0
International Paper Co	COM	460146103	1,097	22,969	SH		SOLE	0	22,969	0	0
Intl Business Machines	COM	459200101	475	2,500	SH		SOLE	0	2,500	0	0
Janus Cap Group Inc	COM	47102x105	4,968	341,670	SH		SOLE	0	341,670	0	0
Johnson & Johnson	COM	478160104	8,337	78,213	SH		SOLE	0	78,213	0	0
JPMorgan Chase & Co	COM	46625h100	13,353	221,663	SH		SOLE	0	221,663	0	0
Kimball Intl Inc Cl B	CL B	494274103	570	37,854	SH		SOLE	0	37,854	0	0
Kimberly Clark Corp	COM	494368103	2,269	21,091	SH		SOLE	0	21,091	0	0
Korn Ferry Intl	COM NEW	500643200	2,070	83,142	SH		SOLE	0	83,142	0	0
La-Z-Boy Inc	COM	505336107	710	35,853	SH		SOLE	0	35,853	0	0
Lannet Inc	COM	516012101	1,662	36,390	SH		SOLE	0	36,390	0	0
Lear Corp	COM NEW	521865204	4,238	49,043	SH		SOLE	0	49,043	0	0
Legg Mason Inc	COM	524901105	2,103	41,113	SH		SOLE	0	41,113	0	0
Level 3 Communications Inc	COM NEW	52729n308	2,532	55,372	SH		SOLE	0	55,372	0	0
Lexmark Intl Cl A	CL A	529771107	2,738	64,428	SH		SOLE	0	64,428	0	0
Lockheed Martin Corp	COM	539830109	3,312	18,118	SH		SOLE	0	18,118	0	0
LogMeIn Inc	COM	54142l109	1,429	31,020	SH		SOLE	0	31,020	0	0
Lorillard Inc	COM	544147101	1,805	30,131	SH		SOLE	0	30,131	0	0
LyondellBasell Industries NV -	SHS - A -	n53745100	3,012	27,721	SH		SOLE	0	27,721	0	0
Maiden Holdings Ltd	SHS	g5753u112	943	85,102	SH		SOLE	0	85,102	0	0
Marathon Petroleum Corp	COM	56585a102	5,332	62,973	SH		SOLE	0	62,973	0	0
Marriott Vacations Worldwide C	COM	57164y107	2,458	38,762	SH		SOLE	0	38,762	0	0
Marvell Technology Group Ltd	ORD	g5876h105	1,789	132,714	SH		SOLE	0	132,714	0	0
McDonalds Corp	COM	580135101	1,023	10,791	SH		SOLE	0	10,791	0	0
McKesson Corp	COM	58155q103	206	1,059	SH		SOLE	0	1,059	0	0
Merck & Co Inc	COM	58933y105	1,399	23,601	SH		SOLE	0	23,601	0	0
Mercury General Corp	COM	589400100	645	13,215	SH		SOLE	0	13,215	0	0
Meritor Inc	COM	59001k100	665	61,250	SH		SOLE	0	61,250	0	0
MetLife Inc	COM	59156r108	1,451	27,007	SH		SOLE	0	27,007	0	0
Micron Technology Inc	COM	595112103	3,528	102,971	SH		SOLE	0	102,971	0	0
Microsoft Corp	COM	594918104	12,529	270,262	SH		SOLE	0	270,262	0	0
Modine Manufacturing Co	COM	607828100	885	74,550	SH		SOLE	0	74,550	0	0
Molina Healthcare Inc	COM	60855r100	4,082	96,510	SH		SOLE	0	96,510	0	0
Molson Coors Brewing Co Cl B	CL B	60871r209	938	12,601	SH		SOLE	0	12,601	0	0
Myriad Genetics Inc	COM	62855j104	2,665	69,092	SH		SOLE	0	69,092	0	0
National Oilwell Varco Inc	COM	637071101	2,976	39,101	SH		SOLE	0	39,101	0	0
NBT Bancorp Inc	COM	628778102	359	15,938	SH		SOLE	0	15,938	0	0
Neenah Paper Inc	COM	640079109	1,963	36,714	SH		SOLE	0	36,714	0	0
Netflix Inc	COM	64110l106	2,750	6,096	SH		SOLE	0	6,096	0	0
NetScout Systems Inc	COM	64115t104	1,354	29,556	SH		SOLE	0	29,556	0	0
NeuStar Inc Cl A	CL A	64126x201	1,100	44,290	SH		SOLE	0	44,290	0	0
New Jersey Resources	COM	646025106	1,107	21,910	SH		SOLE	0	21,910	0	0
New Media Inv Group Inc	COM	64704v106	1,102	66,270	SH		SOLE	0	66,270	0	0
Norfolk Southern Corp	COM	655844108	885	7,931	SH		SOLE	0	7,931	0	0
Northwest Natural Gas Co	COM	667655104	412	9,760	SH		SOLE	0	9,760	0	0
Now Inc	COM	67011p100	1,772	58,260	SH		SOLE	0	58,260	0	0
NPS Pharmaceuticals Inc	COM	62936p103	1,349	51,900	SH		SOLE	0	51,900	0	0
Occidental Petroleum Corp	COM	674599105	1,074	11,175	SH		SOLE	0	11,175	0	0
Olin Corp	COM PAR $1	680665205	909	35,988	SH		SOLE	0	35,988	0	0
Omnicom Group Inc	COM	681919106	1,073	15,581	SH		SOLE	0	15,581	0	0
OmniVision Technologies Inc	COM	682128103	1,806	68,272	SH		SOLE	0	68,272	0	0
Oncomed Pharmaceuticals Inc	COM	68234x102	2,119	111,945	SH		SOLE	0	111,945	0	0
Oracle Corp	COM	68389x105	8,159	213,131	SH		SOLE	0	213,131	0	0
Ormat Technologies Inc	COM	686688102	482	18,350	SH		SOLE	0	18,350	0	0
Outerwall Inc	COM	690070107	918	16,365	SH		SOLE	0	16,365	0	0
Pacific Ethanol Inc	COM PAR $.001	69423u305	530	37,995	SH		SOLE	0	37,995	0	0
Pacira Pharmaceuticals Inc	COM	695127100	1,950	20,115	SH		SOLE	0	20,115	0	0
Pantry Inc	COM	698657103	2,364	116,850	SH		SOLE	0	116,850	0	0
Parexel Intl Corp	COM	699462107	2,792	44,250	SH		SOLE	0	44,250	0	0
Partnerre Ltd	COM	g6852t105	2,986	27,175	SH		SOLE	0	27,175	0	0
Patterson UTI Energy Inc	COM	703481101	914	28,104	SH		SOLE	0	28,104	0	0
PDL Biopharma Inc	COM	69329y104	1,090	145,950	SH		SOLE	0	145,950	0	0
Penn Natl Gaming Inc	COM	707569109	1,089	97,128	SH		SOLE	0	97,128	0	0
Penske Automotive Group Inc	COM	70959w103	1,299	32,010	SH		SOLE	0	32,010	0	0
PepsiCo Inc	COM	713448108	304	3,260	SH		SOLE	0	3,260	0	0
PetSmart Inc	COM	716768106	2,776	39,610	SH		SOLE	0	39,610	0	0
Pfizer Inc	COM	717081103	6,659	225,180	SH		SOLE	0	225,180	0	0
Philip Morris Intl Inc	COM	718172109	226	2,705	SH		SOLE	0	2,705	0	0
Phillips 66	COM	718546104	3,165	38,920	SH		SOLE	0	38,920	0	0
Pilgrims Pride Corp	COM	72147k108	4,614	150,973	SH		SOLE	0	150,973	0	0
Pioneer Energy Services Corp	COM	723664108	826	58,910	SH		SOLE	0	58,910	0	0
Piper Jaffray Cos	COM	724078100	585	11,202	SH		SOLE	0	11,202	0	0
Platform Specialty Products Co	COM	72766q105	1,312	52,435	SH		SOLE	0	52,435	0	0
PNC Financial Services Group I	COM	693475105	1,090	12,734	SH		SOLE	0	12,734	0	0
Procter & Gamble Co	COM	742718109	2,989	35,690	SH		SOLE	0	35,690	0	0
Prudential Financial Inc	COM	744320102	225	2,555	SH		SOLE	0	2,555	0	0
PTC INC COM	COM	69370c100	2,462	66,708	SH		SOLE	0	66,708	0	0
Public Service Enterprise Grou	COM	744573106	1,372	36,851	SH		SOLE	0	36,851	0	0
Quad / Graphics Inc Cl A	COM CL A	747301109	367	19,080	SH		SOLE	0	19,080	0	0
Qualcomm Inc	COM	747525103	7,032	94,047	SH		SOLE	0	94,047	0	0
Ralph Lauren Corp Cl A	CL A	751212101	978	5,937	SH		SOLE	0	5,937	0	0
Reinsurance Group America Inc	COM NEW	759351604	3,289	41,044	SH		SOLE	0	41,044	0	0
Rex American Resources Corp	COM	761624105	596	8,180	SH		SOLE	0	8,180	0	0
RF Micro Devices Inc	COM	749941100	2,688	232,920	SH		SOLE	0	232,920	0	0
Rite Aid Corp	COM	767754104	232	47,966	SH		SOLE	0	47,966	0	0
Robert Half Intl Inc	COM	770323103	1,321	26,953	SH		SOLE	0	26,953	0	0
Royal Bank of Canada Montreal	COM	780087102	230	3,213	SH		SOLE	0	3,213	0	0
Royal Caribbean Cruises Ltd	COM	v7780t103	2,443	36,300	SH		SOLE	0	36,300	0	0
Sanderson Farms Inc	COM	800013104	3,816	43,384	SH		SOLE	0	43,384	0	0
Sanmina Corporation	COM	801056102	2,866	137,403	SH		SOLE	0	137,403	0	0
Schnitzer Steel Industries Cl	CL A	806882106	1,412	58,725	SH		SOLE	0	58,725	0	0
Schulman A Inc	COM	808194104	1,535	42,446	SH		SOLE	0	42,446	0	0
Seagate Technology PLC	SHS	g7945m107	810	14,151	SH		SOLE	0	14,151	0	0
Select Med Holdings Corp	COM	81619q105	342	28,400	SH		SOLE	0	28,400	0	0
Shenandoah Telecommunications	COM	82312b106	514	20,730	SH		SOLE	0	20,730	0	0
Skechers USA Inc Cl A	CL A	830566105	1,354	25,395	SH		SOLE	0	25,395	0	0
Skyworks Solutions Inc	COM	83088m102	2,869	49,420	SH		SOLE	0	49,420	0	0
SolarWinds Inc	COM	83416b109	1,397	33,230	SH		SOLE	0	33,230	0	0
Southwest Airlines Co	COM	844741108	2,945	87,214	SH		SOLE	0	87,214	0	0
SPX Corp	COM	784635104	2,036	21,676	SH		SOLE	0	21,676	0	0
Staples Inc	COM	855030102	714	58,972	SH		SOLE	0	58,972	0	0
Starz Liberty Cap A	COM SER A	85571q102	718	21,720	SH		SOLE	0	21,720	0	0
State Street Corp	COM	857477103	2,666	36,223	SH		SOLE	0	36,223	0	0
Steel Dynamics Inc	COM	858119100	2,707	119,740	SH		SOLE	0	119,740	0	0
Steelcase Inc Cl A	CL A	858155203	1,491	92,111	SH		SOLE	0	92,111	0	0
Stillwater Mining Co	COM	86074q102	1,279	85,125	SH		SOLE	0	85,125	0	0
SunTrust Banks Inc	COM	867914103	2,668	70,168	SH		SOLE	0	70,168	0	0
SVB Financial Group	COM	78486q101	955	8,516	SH		SOLE	0	8,516	0	0
Sykes Enterprises Inc	COM	871237103	947	47,400	SH		SOLE	0	47,400	0	0
Sysco Corp	COM	871829107	829	21,833	SH		SOLE	0	21,833	0	0
Take-Two Interactive Software	COM	874054109	2,769	120,010	SH		SOLE	0	120,010	0	0
Targa Resources Corp	COM	87612g101	2,032	14,920	SH		SOLE	0	14,920	0	0
Target Corp	COM	87612e106	1,289	20,557	SH		SOLE	0	20,557	0	0
Tech Data Corp	COM	878237106	2,679	45,510	SH		SOLE	0	45,510	0	0
Teledyne Technologies Inc	COM	879360105	289	3,074	SH		SOLE	0	3,074	0	0
Tempur-Pedic Intl Inc	COM	88023u101	1,154	20,550	SH		SOLE	0	20,550	0	0
Tesoro Corp	COM	881609101	3,134	51,386	SH		SOLE	0	51,386	0	0
Tetra Tech Inc	COM	88162g103	3,465	138,725	SH		SOLE	0	138,725	0	0
Thomson Reuters Corp	COM	884903105	1,003	27,548	SH		SOLE	0	27,548	0	0
Thoratec Corp	COM NEW	885175307	2,156	80,670	SH		SOLE	0	80,670	0	0
Time Warner Inc	COM NEW	887317303	2,251	29,928	SH		SOLE	0	29,928	0	0
Toronto Dominion Bank Ont	COM NEW	891160509	203	4,113	SH		SOLE	0	4,113	0	0
Tower Intl Inc	COM	891826109	809	32,120	SH		SOLE	0	32,120	0	0
Travelers Companies Inc	COM	89417e109	1,074	11,430	SH		SOLE	0	11,430	0	0
Trinity Industries Inc	COM	896522109	1,977	42,323	SH		SOLE	0	42,323	0	0
Triple-S Mgmt Corp Cl B	CL B	896749108	700	35,156	SH		SOLE	0	35,156	0	0
Tuesday Morning Corp	COM NEW	899035505	1,019	52,538	SH		SOLE	0	52,538	0	0
Tupperware Brands Corp	COM	899896104	578	8,366	SH		SOLE	0	8,366	0	0
Tyson Foods Inc Cl A	CL A	902494103	2,908	73,863	SH		SOLE	0	73,863	0	0
UBS AG	SHS NEW	h89231338	230	13,227	SH		SOLE	0	13,227	0	0
UGI Corp	COM	902681105	2,380	69,806	SH		SOLE	0	69,806	0	0
United Parcel Service Inc Cl B	CL B	911312106	808	8,217	SH		SOLE	0	8,217	0	0
United States Steel Corp	COM	912909108	2,619	66,857	SH		SOLE	0	66,857	0	0
UnitedHealth Group Inc	COM	91324p102	2,531	29,344	SH		SOLE	0	29,344	0	0
Universal Electronics Inc	COM	913483103	773	15,658	SH		SOLE	0	15,658	0	0
Universal Forest Prods Inc	COM	913543104	1,122	26,280	SH		SOLE	0	26,280	0	0
US Silica Holdings Inc	COM	90346e103	3,778	60,440	SH		SOLE	0	60,440	0	0
Valero Energy Corp	COM	91913y100	5,246	113,388	SH		SOLE	0	113,388	0	0
Vasco Data Sec Intl Inc	COM	92230y104	2,445	130,170	SH		SOLE	0	130,170	0	0
VCA Antech Inc	COM	918194101	1,346	34,220	SH		SOLE	0	34,220	0	0
Veritiv Corp	COM	923454102	2,139	42,722	SH		SOLE	0	42,722	0	0
Verizon Communications Inc	COM	92343v104	3,414	68,292	SH		SOLE	0	68,292	0	0
Viad Corp	COM NEW	92552r406	626	30,296	SH		SOLE	0	30,296	0	0
Vishay Intertechnology Inc	COM	928298108	3,177	222,309	SH		SOLE	0	222,309	0	0
Voya Financial Inc	COM	929089100	4,141	105,916	SH		SOLE	0	105,916	0	0
Wal-Mart Stores Inc	COM	931142103	2,063	26,978	SH		SOLE	0	26,978	0	0
Warren Resources Inc	COM	93564a100	622	117,435	SH		SOLE	0	117,435	0	0
Webster Financial Corp CT	COM	947890109	1,133	38,868	SH		SOLE	0	38,868	0	0
Wells Fargo & Co	COM	949746101	7,466	143,937	SH		SOLE	0	143,937	0	0
West Corp	COM	952355204	914	31,040	SH		SOLE	0	31,040	0	0
Wintrust Financial Corp	COM	97650w108	2,535	56,745	SH		SOLE	0	56,745	0	0
World Fuel Services Corp	COM	981475106	4,964	124,343	SH		SOLE	0	124,343	0	0
WPX Energy Inc	COM	98212b103	2,317	96,293	SH		SOLE	0	96,293	0	0
Wyndham Worldwide Corp	COM	98310w108	2,459	30,259	SH		SOLE	0	30,259	0	0
Xerox Corp	COM	984121103	1,292	97,638	SH		SOLE	0	97,638	0	0
Yahoo Inc	COM	984332106	1,743	42,763	SH		SOLE	0	42,763	0	0
Zumiez Inc	COM	989817101	876	31,190	SH		SOLE	0	31,190	0	0
ABB Ltd Sp ADR	SPONSORED ADR	000375204	403	17,981	SH		SOLE	0	17,981	0	0
Allianz SE Sp ADR	ADR	018805101	168	10,389	SH		SOLE	0	10,389	0	0
Ambev SA Sp ADR	SPONSORED ADR	02319v103	154	23,507	SH		SOLE	0	23,507	0	0
Anheuser-Busch InBev SA NV Sp	SPONSORED ADR	03524a108	299	2,701	SH		SOLE	0	2,701	0	0
AstraZeneca PLC Sp ADR	SPONSORED ADR	046353108	217	3,044	SH		SOLE	0	3,044	0	0
Banco Bilbao Vizcaya Argentari	SPONSORED ADR	05946k101	160	13,338	SH		SOLE	0	13,338	0	0
Banco Santander SA ADR	ADR	05964h105	248	26,115	SH		SOLE	0	26,115	0	0
BHP Billiton Ltd Sp ADR	SPONSORED ADR	088606108	213	3,620	SH		SOLE	0	3,620	0	0
BP PLC Sp ADR	SPONSORED ADR	055622104	201	4,574	SH		SOLE	0	4,574	0	0
British American Tobacco PLC S	SPONSORED ADR	110448107	215	1,899	SH		SOLE	0	1,899	0	0
China Mobile Limited Sp ADR	SPONSORED ADR	16941m109	243	4,133	SH		SOLE	0	4,133	0	0
Gazprom OAO Sp ADR	ADR	368287207	75	10,730	SH		SOLE	0	10,730	0	0
GlaxoSmithKline PLC Sp ADR	SPONSORED ADR	37733w105	230	4,992	SH		SOLE	0	4,992	0	0
Henderson Land Development Ltd	ADR	425166303	142	21,940	SH		SOLE	0	21,940	0	0
Honda Motor Ltd American	AMERN SHS	438128308	203	5,930	SH		SOLE	0	5,930	0	0
HSBC Holdings PLC Sp ADR	SPON ADR NEW	404280406	418	8,225	SH		SOLE	0	8,225	0	0
Koninklijke Philips NV	NY REG SH NEW	500472303	240	7,564	SH		SOLE	0	7,564	0	0
Lloyds Banking Group PLC Sp AD	SPONSORED ADR	539439109	178	35,292	SH		SOLE	0	35,292	0	0
Mitsubishi UFJ Financial Group	SPONSORED ADR	606822104	164	29,319	SH		SOLE	0	29,319	0	0
Mizuho Financial Group Inc Sp	SPONSORED ADR	60687y109	77	21,489	SH		SOLE	0	21,489	0	0
National Grid PLC Sp ADR	SPON ADR NEW	636274300	203	2,823	SH		SOLE	0	2,823	0	0
Nestle SA Sp ADR	ADR	641069406	283	3,844	SH		SOLE	0	3,844	0	0
Nokia Corp Sp ADR	SPONSORED ADR	654902204	96	11,393	SH		SOLE	0	11,393	0	0
Nomura Holdings Inc Sp ADR	SPONSORED ADR	65535h208	79	13,439	SH		SOLE	0	13,439	0	0
Novartis AG Sp ADR	SPONSORED ADR	66987v109	604	6,417	SH		SOLE	0	6,417	0	0
Novo-Nordisk AS ADR	ADR	670100205	237	4,971	SH		SOLE	0	4,971	0	0
Panasonic Corp ADR	ADR	69832a205	152	12,781	SH		SOLE	0	12,781	0	0
Roche Holding Ltd Sp ADR	ADR	771195104	320	8,629	SH		SOLE	0	8,629	0	0
Royal Dutch Shell PLC Sp ADR A	SPONS ADR A	780259206	248	3,262	SH		SOLE	0	3,262	0	0
Sanofi Sp ADR	SPONSORED ADR	80105n105	348	6,162	SH		SOLE	0	6,162	0	0
Siemens AG Sp ADR	ADR	826197501	759	6,366	SH		SOLE	0	6,366	0	0
Sumitomo Mitsui Financial Grou	SPONSORED ADR	86562m209	130	15,845	SH		SOLE	0	15,845	0	0
Total SA Sp ADR	SPONSORED ADR	89151e109	247	3,835	SH		SOLE	0	3,835	0	0
Toyota Motor Corp Sp ADR 2	SP ADR REP2COM	892331307	602	5,120	SH		SOLE	0	5,120	0	0
American Assets Tr Inc	COM	024013104	2,910	88,259	SH		SOLE	0	88,259	0	0
CBL & Assoc Properties Inc	COM	124830100	971	54,271	SH		SOLE	0	54,271	0	0
Corporate Office Properties Tr	SH BEN INT	22002t108	5,197	202,064	SH		SOLE	0	202,064	0	0
Digital Realty Trust Inc	COM	253868103	530	8,503	SH		SOLE	0	8,503	0	0
DuPont Fabros Technology Inc	COM	26613q106	4,152	153,533	SH		SOLE	0	153,533	0	0
Equity Residential	SH BEN INT	29476l107	995	16,160	SH		SOLE	0	16,160	0	0
Home Properties Inc	COM	437306103	5,190	89,116	SH		SOLE	0	89,116	0	0
Host Hotels & Resorts Inc	COM	44107p104	2,373	111,236	SH		SOLE	0	111,236	0	0
Kimco Realty Corp	COM	49446r109	845	38,567	SH		SOLE	0	38,567	0	0
National Retail Properties Inc	COM	637417106	3,593	103,932	SH		SOLE	0	103,932	0	0
Piedmont Office Realty Trust I	COM CL A	720190206	1,670	94,683	SH		SOLE	0	94,683	0	0
Public Storage	COM	74460d109	947	5,711	SH		SOLE	0	5,711	0	0
Regency Centers Corp	COM	758849103	2,512	46,670	SH		SOLE	0	46,670	0	0
Select Income REIT	COM SH BEN INT	81618t100	5,059	210,340	SH		SOLE	0	210,340	0	0
Weyerhaeuser Co	COM	962166104	896	28,116	SH		SOLE	0	28,116	0	0