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
PIPER JAFFRAY COS	COM	724078100	952	25,262	SH		DFND		25,262	0	0
CARNIVAL CORP	UNIT 99/99/9999	143658300	4,342	98,230	SH		DFND		98,230	0	0
EARTHLINK HLDGS CORP	COM	27033X101	1,764	275,650	SH		DFND		275,650	0	0
OUTERWALL INC	COM	690070107	734	17,488	SH		DFND		17,488	0	0
ALLSCRIPTS HEALTHCARE SOLUTN	COM	01988P108	1,823	143,540	SH		DFND		143,540	0	0
TIMKEN CO	COM	887389104	1,949	63,574	SH		DFND		63,574	0	0
MID-AMER APT CMNTYS INC	COM	59522J103	1,790	16,820	SH		DFND		16,820	0	0
CAREER EDUCATION CORP	COM	141665109	1,471	247,294	SH		DFND		247,294	0	0
MENTOR GRAPHICS CORP	COM	587200106	1,796	84,490	SH		DFND		84,490	0	0
NVIDIA CORP	COM	67066G104	3,114	66,248	SH		DFND		66,248	0	0
PDL BIOPHARMA INC	COM	69329Y104	339	107,980	SH		DFND		107,980	0	0
RELIANCE STEEL & ALUMINUM CO	COM	759509102	842	10,950	SH		DFND		10,950	0	0
EATON CORP PLC	SHS	G29183103	1,607	26,912	SH		DFND		26,912	0	0
TESORO CORP	COM	881609101	3,462	46,210	SH		DFND		46,210	0	0
PHOTRONICS INC	COM	719405102	1,568	175,966	SH		DFND		175,966	0	0
UNITED RENTALS INC	COM	911363109	225	3,358	SH		DFND		3,358	0	0
ROWAN COMPANIES PLC	SHS CL A	G7665A101	3,583	202,893	SH		DFND		202,893	0	0
JACOBS ENGR GROUP INC DEL	COM	469814107	1,263	25,363	SH		DFND		25,363	0	0
WEINGARTEN RLTY INVS	SH BEN INT	948741103	1,429	34,997	SH		DFND		34,997	0	0
DONNELLEY R R & SONS CO	COM	257867101	987	58,324	SH		DFND		58,324	0	0
PENN NATL GAMING INC	COM	707569109	1,308	93,728	SH		DFND		93,728	0	0
KFORCE INC	COM	493732101	1,343	79,520	SH		DFND		79,520	0	0
TCF FINL CORP	COM	872275102	437	34,520	SH		DFND		34,520	0	0
LINCOLN NATL CORP IND	COM	534187109	1,838	47,396	SH		DFND		47,396	0	0
OWENS & MINOR INC NEW	COM	690732102	6,171	165,086	SH		DFND		165,086	0	0
STEEL DYNAMICS INC	COM	858119100	806	32,900	SH		DFND		32,900	0	0
CUMMINS INC	COM	231021106	1,201	10,685	SH		DFND		10,685	0	0
UNUM GROUP	COM	91529Y106	1,947	61,253	SH		DFND		61,253	0	0
METLIFE INC	COM	59156R108	1,492	37,465	SH		DFND		37,465	0	0
AMAZON COM INC	COM	023135106	432	603	SH		DFND		603	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	590	4,077	SH		DFND		4,077	0	0
BOEING CO	COM	097023105	9,243	71,169	SH		DFND		71,169	0	0
HELMERICH & PAYNE INC	COM	423452101	960	14,306	SH		DFND		14,306	0	0
IRON MTN INC NEW	COM	46284V101	859	21,564	SH		DFND		21,564	0	0
SOVRAN SELF STORAGE INC	COM	84610H108	235	2,243	SH		DFND		2,243	0	0
UNITED NAT FOODS INC	COM	911163103	2,138	45,679	SH		DFND		45,679	0	0
AMGEN INC	COM	031162100	6,390	42,000	SH		DFND		42,000	0	0
BEST BUY INC	COM	086516101	2,000	65,372	SH		DFND		65,372	0	0
ALTRIA GROUP INC	COM	02209S103	5,133	74,437	SH		DFND		74,437	0	0
INTEL CORP	COM	458140100	8,489	258,818	SH		DFND		258,818	0	0
KEYCORP NEW	COM	493267108	2,189	198,118	SH		DFND		198,118	0	0
ORACLE CORP	COM	68389X105	2,209	53,971	SH		DFND		53,971	0	0
QUALCOMM INC	COM	747525103	1,398	26,103	SH		DFND		26,103	0	0
DISNEY WALT CO	COM DISNEY	254687106	206	2,107	SH		DFND		2,107	0	0
SYSCO CORP	COM	871829107	1,036	20,425	SH		DFND		20,425	0	0
JOHNSON & JOHNSON	COM	478160104	1,742	14,359	SH		DFND		14,359	0	0
PFIZER INC	COM	717081103	4,623	131,293	SH		DFND		131,293	0	0
EXELON CORP	COM	30161N101	3,517	96,735	SH		DFND		96,735	0	0
LOWES COS INC	COM	548661107	211	2,660	SH		DFND		2,660	0	0
AMERISOURCEBERGEN CORP	COM	03073E105	3,167	39,925	SH		DFND		39,925	0	0
CHEVRON CORP NEW	COM	166764100	6,236	59,483	SH		DFND		59,483	0	0
MICROSOFT CORP	COM	594918104	6,728	131,484	SH		DFND		131,484	0	0
UNITED PARCEL SERVICE INC	CL B	911312106	986	9,149	SH		DFND		9,149	0	0
AT&T INC	COM	00206R102	5,964	138,017	SH		DFND		138,017	0	0
PRUDENTIAL FINL INC	COM	744320102	1,220	17,099	SH		DFND		17,099	0	0
CITIGROUP INC	COM NEW	172967424	474	11,178	SH		DFND		11,178	0	0
CA INC	COM	12673P105	5,426	165,274	SH		DFND		165,274	0	0
CISCO SYS INC	COM	17275R102	3,428	119,494	SH		DFND		119,494	0	0
INTERNATIONAL BUSINESS MACHS	COM	459200101	5,080	33,471	SH		DFND		33,471	0	0
COCA COLA CO	COM	191216100	317	7,003	SH		DFND		7,003	0	0
LOCKHEED MARTIN CORP	COM	539830109	2,917	11,754	SH		DFND		11,754	0	0
PEPSICO INC	COM	713448108	337	3,184	SH		DFND		3,184	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	10,191	182,512	SH		DFND		182,512	0	0
XEROX CORP	COM	984121103	160	16,879	SH		DFND		16,879	0	0
BANK AMER CORP	COM	060505104	374	28,212	SH		DFND		28,212	0	0
EXXON MOBIL CORP	COM	30231G102	3,360	35,839	SH		DFND		35,839	0	0
AFLAC INC	COM	001055102	2,481	34,381	SH		DFND		34,381	0	0
WAL-MART STORES INC	COM	931142103	7,562	103,554	SH		DFND		103,554	0	0
ANTHEM INC	COM	036752103	2,912	22,173	SH		DFND		22,173	0	0
BRADY CORP	CL A	104674106	2,344	76,687	SH		DFND		76,687	0	0
CARDINAL HEALTH INC	COM	14149Y108	3,172	40,667	SH		DFND		40,667	0	0
TARGET CORP	COM	87612E106	5,147	73,713	SH		DFND		73,713	0	0
CAPITAL ONE FINL CORP	COM	14040H105	5,254	82,735	SH		DFND		82,735	0	0
COSTCO WHSL CORP NEW	COM	22160K105	246	1,565	SH		DFND		1,565	0	0
CVS HEALTH CORP	COM	126650100	265	2,767	SH		DFND		2,767	0	0
MILLER HERMAN INC	COM	600544100	1,051	35,165	SH		DFND		35,165	0	0
MERCK & CO INC	COM	58933Y105	4,338	75,298	SH		DFND		75,298	0	0
MORGAN STANLEY	COM NEW	617446448	2,143	82,486	SH		DFND		82,486	0	0
ENTERGY CORP NEW	COM	29364G103	1,933	23,765	SH		DFND		23,765	0	0
FIFTH THIRD BANCORP	COM	316773100	2,576	146,446	SH		DFND		146,446	0	0
PROCTER & GAMBLE CO	COM	742718109	5,915	69,854	SH		DFND		69,854	0	0
GENERAL ELECTRIC CO	COM	369604103	8,916	283,219	SH		DFND		283,219	0	0
KIMBERLY CLARK CORP	COM	494368103	1,435	10,438	SH		DFND		10,438	0	0
GILEAD SCIENCES INC	COM	375558103	8,446	101,250	SH		DFND		101,250	0	0
HOME DEPOT INC	COM	437076102	3,379	26,460	SH		DFND		26,460	0	0
INGERSOLL-RAND PLC	SHS	G47791101	1,845	28,978	SH		DFND		28,978	0	0
JABIL CIRCUIT INC	COM	466313103	1,949	105,524	SH		DFND		105,524	0	0
JPMORGAN CHASE & CO	COM	46625H100	12,507	201,267	SH		DFND		201,267	0	0
SIRIUS XM HLDGS INC	COM	82968B103	2,446	619,124	SH		DFND		619,124	0	0
HP INC	COM	40434L105	2,463	196,286	SH		DFND		196,286	0	0
WELLS FARGO & CO NEW	COM	949746101	2,656	56,122	SH		DFND		56,122	0	0
STURM RUGER & CO INC	COM	864159108	1,309	20,454	SH		DFND		20,454	0	0
WADDELL & REED FINL INC	CL A	930059100	968	56,213	SH		DFND		56,213	0	0
FORD MTR CO DEL	COM PAR $0.01	345370860	3,761	299,222	SH		DFND		299,222	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	365	2,582	SH		DFND		2,582	0	0
DIAMOND OFFSHORE DRILLING IN	COM	25271C102	3,179	130,670	SH		DFND		130,670	0	0
SIX FLAGS ENTMT CORP NEW	COM	83001A102	1,288	22,222	SH		DFND		22,222	0	0
SOUTHWEST AIRLS CO	COM	844741108	2,448	62,426	SH		DFND		62,426	0	0
MARRIOTT INTL INC NEW	CL A	571903202	1,192	17,936	SH		DFND		17,936	0	0
NEW YORK TIMES CO	CL A	650111107	796	65,748	SH		DFND		65,748	0	0
COMCAST CORP NEW	CL A	20030N101	304	4,656	SH		DFND		4,656	0	0
TUPPERWARE BRANDS CORP	COM	899896104	730	12,969	SH		DFND		12,969	0	0
HUNTINGTON BANCSHARES INC	COM	446150104	2,502	279,867	SH		DFND		279,867	0	0
HOST HOTELS & RESORTS INC	COM	44107P104	2,721	167,849	SH		DFND		167,849	0	0
FIRSTENERGY CORP	COM	337932107	3,626	103,875	SH		DFND		103,875	0	0
DUKE ENERGY CORP NEW	COM NEW	26441C204	1,320	15,385	SH		DFND		15,385	0	0
CROWN HOLDINGS INC	COM	228368106	1,572	31,032	SH		DFND		31,032	0	0
BOB EVANS FARMS INC	COM	096761101	1,294	34,094	SH		DFND		34,094	0	0
APPLE INC	COM	037833100	11,412	119,371	SH		DFND		119,371	0	0
MEREDITH CORP	COM	589433101	2,437	46,956	SH		DFND		46,956	0	0
CAMDEN PPTY TR	SH BEN INT	133131102	907	10,259	SH		DFND		10,259	0	0
INTL PAPER CO	COM	460146103	2,994	70,655	SH		DFND		70,655	0	0
COACH INC	COM	189754104	1,400	34,373	SH		DFND		34,373	0	0
AMKOR TECHNOLOGY INC	COM	031652100	1,750	304,296	SH		DFND		304,296	0	0
CITRIX SYS INC	COM	177376100	3,681	45,963	SH		DFND		45,963	0	0
ZIONS BANCORPORATION	COM	989701107	4,170	165,923	SH		DFND		165,923	0	0
ON SEMICONDUCTOR CORP	COM	682189105	4,264	483,421	SH		DFND		483,421	0	0
SANMINA CORPORATION	COM	801056102	3,798	141,653	SH		DFND		141,653	0	0
ROYAL CARIBBEAN CRUISES LTD	COM	V7780T103	1,735	25,841	SH		DFND		25,841	0	0
AMERICAN EXPRESS CO	COM	025816109	5,041	82,963	SH		DFND		82,963	0	0
RYMAN HOSPITALITY PPTYS INC	COM	78377T107	3,638	71,834	SH		DFND		71,834	0	0
GAMESTOP CORP NEW	CL A	36467W109	503	18,935	SH		DFND		18,935	0	0
NEWMONT MINING CORP	COM	651639106	861	22,017	SH		DFND		22,017	0	0
NATIONAL OILWELL VARCO INC	COM	637071101	2,275	67,607	SH		DFND		67,607	0	0
REGIONS FINL CORP NEW	COM	7591EP100	5,489	645,057	SH		DFND		645,057	0	0
AMEREN CORP	COM	023608102	1,703	31,783	SH		DFND		31,783	0	0
ARCHER DANIELS MIDLAND CO	COM	039483102	1,275	29,723	SH		DFND		29,723	0	0
CENTERPOINT ENERGY INC	COM	15189T107	3,828	159,495	SH		DFND		159,495	0	0
KIMCO RLTY CORP	COM	49446R109	1,495	47,641	SH		DFND		47,641	0	0
EXPRESS SCRIPTS HLDG CO	COM	30219G108	3,402	44,884	SH		DFND		44,884	0	0
DOW CHEM CO	COM	260543103	1,753	35,262	SH		DFND		35,262	0	0
E TRADE FINANCIAL CORP	COM NEW	269246401	1,088	46,300	SH		DFND		46,300	0	0
PRINCIPAL FINL GROUP INC	COM	74251V102	1,881	45,762	SH		DFND		45,762	0	0
NOBLE CORP PLC	SHS USD	G65431101	2,033	246,773	SH		DFND		246,773	0	0
FLAGSTAR BANCORP INC	COM PAR .001	337930705	2,764	113,224	SH		DFND		113,224	0	0
PAYCHEX INC	COM	704326107	4,229	71,070	SH		DFND		71,070	0	0
BUNGE LIMITED	COM	G16962105	3,859	65,246	SH		DFND		65,246	0	0
VALERO ENERGY CORP NEW	COM	91913Y100	5,770	113,131	SH		DFND		113,131	0	0
ROBERT HALF INTL INC	COM	770323103	1,053	27,601	SH		DFND		27,601	0	0
NORTHWEST NAT GAS CO	COM	667655104	3,524	54,370	SH		DFND		54,370	0	0
NAVISTAR INTL CORP NEW	COM	63934E108	1,155	98,820	SH		DFND		98,820	0	0
IMPAX LABORATORIES INC	COM	45256B101	1,641	56,940	SH		DFND		56,940	0	0
ARROW ELECTRS INC	COM	042735100	1,643	26,547	SH		DFND		26,547	0	0
FULLER H B CO	COM	359694106	1,062	24,140	SH		DFND		24,140	0	0
SUNTRUST BKS INC	COM	867914103	4,244	103,310	SH		DFND		103,310	0	0
HUB GROUP INC	CL A	443320106	1,062	27,670	SH		DFND		27,670	0	0
GIBRALTAR INDS INC	COM	374689107	1,322	41,890	SH		DFND		41,890	0	0
TOLL BROTHERS INC	COM	889478103	1,501	55,787	SH		DFND		55,787	0	0
AETNA INC NEW	COM	00817Y108	3,279	26,849	SH		DFND		26,849	0	0
U S G CORP	COM NEW	903293405	2,550	94,591	SH		DFND		94,591	0	0
BRUNSWICK CORP	COM	117043109	745	16,435	SH		DFND		16,435	0	0
MDU RES GROUP INC	COM	552690109	1,383	57,627	SH		DFND		57,627	0	0
TYSON FOODS INC	CL A	902494103	4,990	74,714	SH		DFND		74,714	0	0
COMMUNITY HEALTH SYS INC NEW	COM	203668108	4,193	347,941	SH		DFND		347,941	0	0
LIBERTY PPTY TR	SH BEN INT	531172104	2,858	71,954	SH		DFND		71,954	0	0
ALPHABET INC	CAP STK CL A	02079K305	505	718	SH		DFND		718	0	0
WELLCARE HEALTH PLANS INC	COM	94946T106	2,733	25,480	SH		DFND		25,480	0	0
MTS SYS CORP	COM	553777103	723	16,490	SH		DFND		16,490	0	0
COMMERCIAL METALS CO	COM	201723103	2,154	127,454	SH		DFND		127,454	0	0
ASPEN TECHNOLOGY INC	COM	045327103	4,201	104,398	SH		DFND		104,398	0	0
ISLE OF CAPRI CASINOS INC	COM	464592104	954	52,095	SH		DFND		52,095	0	0
DEAN FOODS CO NEW	COM NEW	242370203	6,949	384,149	SH		DFND		384,149	0	0
PACKAGING CORP AMER	COM	695156109	1,972	29,465	SH		DFND		29,465	0	0
UGI CORP NEW	COM	902681105	266	5,883	SH		DFND		5,883	0	0
MANTECH INTL CORP	CL A	564563104	1,904	50,332	SH		DFND		50,332	0	0
MYRIAD GENETICS INC	COM	62855J104	3,278	107,127	SH		DFND		107,127	0	0
PILGRIMS PRIDE CORP NEW	COM	72147K108	3,767	147,827	SH		DFND		147,827	0	0
MANPOWERGROUP INC	COM	56418H100	1,311	20,374	SH		DFND		20,374	0	0
DISCOVERY COMMUNICATNS NEW	COM SER A	25470F104	1,604	63,562	SH		DFND		63,562	0	0
SMITH & WESSON HLDG CORP	COM	831756101	2,366	87,061	SH		DFND		87,061	0	0
WORLD FUEL SVCS CORP	COM	981475106	4,473	94,190	SH		DFND		94,190	0	0
DCT INDUSTRIAL TRUST INC	COM NEW	233153204	4,560	94,920	SH		DFND		94,920	0	0
B/E AEROSPACE INC	COM	073302101	1,472	31,885	SH		DFND		31,885	0	0
OSHKOSH CORP	COM	688239201	596	12,493	SH		DFND		12,493	0	0
PIER 1 IMPORTS INC	COM	720279108	1,087	211,410	SH		DFND		211,410	0	0
CHARLES RIV LABS INTL INC	COM	159864107	1,977	23,976	SH		DFND		23,976	0	0
AMERIPRISE FINL INC	COM	03076C106	1,204	13,397	SH		DFND		13,397	0	0
SOUTHWEST GAS CORP	COM	844895102	5,858	74,426	SH		DFND		74,426	0	0
BIG LOTS INC	COM	089302103	3,422	68,281	SH		DFND		68,281	0	0
CORRECTIONS CORP AMER NEW	COM NEW	22025Y407	2,080	59,385	SH		DFND		59,385	0	0
MORNINGSTAR INC	COM	617700109	846	10,344	SH		DFND		10,344	0	0
UNITED STATES CELLULAR CORP	COM	911684108	1,051	26,768	SH		DFND		26,768	0	0
WHITING PETE CORP NEW	COM	966387102	1,542	166,500	SH		DFND		166,500	0	0
BENCHMARK ELECTRS INC	COM	08160H101	1,128	53,330	SH		DFND		53,330	0	0
SKYWEST INC	COM	830879102	1,064	40,220	SH		DFND		40,220	0	0
ALON USA ENERGY INC	COM	020520102	830	128,090	SH		DFND		128,090	0	0
GROUP 1 AUTOMOTIVE INC	COM	398905109	573	11,613	SH		DFND		11,613	0	0
SONIC AUTOMOTIVE INC	CL A	83545G102	1,264	73,870	SH		DFND		73,870	0	0
TECH DATA CORP	COM	878237106	4,583	63,787	SH		DFND		63,787	0	0
TENNECO INC	COM	880349105	751	16,102	SH		DFND		16,102	0	0
PVH CORP	COM	693656100	554	5,882	SH		DFND		5,882	0	0
GENERAL CABLE CORP DEL NEW	COM	369300108	661	51,975	SH		DFND		51,975	0	0
WABASH NATL CORP	COM	929566107	1,329	104,638	SH		DFND		104,638	0	0
MOLINA HEALTHCARE INC	COM	60855R100	2,351	47,116	SH		DFND		47,116	0	0
CAL MAINE FOODS INC	COM NEW	128030202	4,580	103,347	SH		DFND		103,347	0	0
NUANCE COMMUNICATIONS INC	COM	67020Y100	3,983	254,802	SH		DFND		254,802	0	0
CHILDRENS PL INC	COM	168905107	2,564	31,974	SH		DFND		31,974	0	0
LEXICON PHARMACEUTICALS INC	COM NEW	528872302	1,638	114,157	SH		DFND		114,157	0	0
UNIVERSAL FST PRODS INC	COM	913543104	3,823	41,240	SH		DFND		41,240	0	0
ENNIS INC	COM	293389102	1,528	79,656	SH		DFND		79,656	0	0
HUNTSMAN CORP	COM	447011107	2,746	204,146	SH		DFND		204,146	0	0
CBS CORP NEW	CL B	124857202	2,104	38,649	SH		DFND		38,649	0	0
CEVA INC	COM	157210105	1,716	63,150	SH		DFND		63,150	0	0
UNITED CONTL HLDGS INC	COM	910047109	2,746	66,921	SH		DFND		66,921	0	0
BRINKS CO	COM	109696104	815	28,604	SH		DFND		28,604	0	0
H & E EQUIPMENT SERVICES INC	COM	404030108	653	34,340	SH		DFND		34,340	0	0
SYNNEX CORP	COM	87162W100	1,585	16,716	SH		DFND		16,716	0	0
EAST WEST BANCORP INC	COM	27579R104	840	24,580	SH		DFND		24,580	0	0
TEXAS ROADHOUSE INC	COM	882681109	1,701	37,300	SH		DFND		37,300	0	0
CEPHEID	COM	15670R107	1,656	53,850	SH		DFND		53,850	0	0
MOOG INC	CL A	615394202	2,547	47,231	SH		DFND		47,231	0	0
ATWOOD OCEANICS INC	COM	050095108	663	52,940	SH		DFND		52,940	0	0
UNITED THERAPEUTICS CORP DEL	COM	91307C102	222	2,094	SH		DFND		2,094	0	0
COGENT COMMUNICATIONS HLDGS	COM NEW	19239V302	1,512	37,750	SH		DFND		37,750	0	0
IROBOT CORP	COM	462726100	1,281	36,512	SH		DFND		36,512	0	0
INSYS THERAPEUTICS INC NEW	COM NEW	45824V209	207	15,965	SH		DFND		15,965	0	0
MOVADO GROUP INC	COM	624580106	1,101	50,800	SH		DFND		50,800	0	0
INVESCO LTD	SHS	G491BT108	916	35,884	SH		DFND		35,884	0	0
MASTERCARD INC	CL A	57636Q104	3,798	43,134	SH		DFND		43,134	0	0
WORLD ACCEP CORP DEL	COM	981419104	652	14,301	SH		DFND		14,301	0	0
WESTERN REFNG INC	COM	959319104	4,341	210,438	SH		DFND		210,438	0	0
WYNDHAM WORLDWIDE CORP	COM	98310W108	1,620	22,743	SH		DFND		22,743	0	0
CENTRAL PAC FINL CORP	COM NEW	154760409	1,981	83,932	SH		DFND		83,932	0	0
DIAMONDROCK HOSPITALITY CO	COM	252784301	1,504	166,601	SH		DFND		166,601	0	0
DIGITAL RLTY TR INC	COM	253868103	1,772	16,259	SH		DFND		16,259	0	0
ALLEGHANY CORP DEL	COM	017175100	231	420	SH		DFND		420	0	0
REGAL ENTMT GROUP	CL A	758766109	2,316	105,071	SH		DFND		105,071	0	0
SUNSTONE HOTEL INVS INC NEW	COM	867892101	1,903	157,688	SH		DFND		157,688	0	0
THOMSON REUTERS CORP	COM	884903105	3,547	87,748	SH		DFND		87,748	0	0
POLYONE CORP	COM	73179P106	2,289	64,946	SH		DFND		64,946	0	0
HERBALIFE LTD	COM USD SHS	G4412G101	4,051	69,216	SH		DFND		69,216	0	0
ACORDA THERAPEUTICS INC	COM	00484M106	514	20,130	SH		DFND		20,130	0	0
WESTERN UN CO	COM	959802109	3,859	201,194	SH		DFND		201,194	0	0
LEIDOS HLDGS INC	COM	525327102	5,484	114,553	SH		DFND		114,553	0	0
SEADRILL LIMITED	SHS	G7945E105	447	137,910	SH		DFND		137,910	0	0
OWENS CORNING NEW	COM	690742101	2,153	41,792	SH		DFND		41,792	0	0
HURON CONSULTING GROUP INC	COM	447462102	1,604	26,552	SH		DFND		26,552	0	0
GREIF INC	CL A	397624107	1,507	40,440	SH		DFND		40,440	0	0
PS BUSINESS PKS INC CALIF	COM	69360J107	1,403	13,224	SH		DFND		13,224	0	0
WEB COM GROUP INC	COM	94733A104	1,937	106,560	SH		DFND		106,560	0	0
MAGELLAN HEALTH INC	COM NEW	559079207	1,738	26,429	SH		DFND		26,429	0	0
DELTA AIR LINES INC DEL	COM NEW	247361702	2,667	73,197	SH		DFND		73,197	0	0
INSTEEL INDUSTRIES INC	COM	45774W108	1,470	51,432	SH		DFND		51,432	0	0
DISCOVER FINL SVCS	COM	254709108	3,886	72,519	SH		DFND		72,519	0	0
SHUTTERFLY INC	COM	82568P304	4,137	88,768	SH		DFND		88,768	0	0
VMWARE INC	CL A COM	928563402	1,792	31,324	SH		DFND		31,324	0	0
TERADATA CORP DEL	COM	88076W103	1,289	51,425	SH		DFND		51,425	0	0
CENTRAL GARDEN & PET CO	CL A NON-VTG	153527205	979	45,108	SH		DFND		45,108	0	0
DUPONT FABROS TECHNOLOGY INC	COM	26613Q106	2,626	55,248	SH		DFND		55,248	0	0
PENSKE AUTOMOTIVE GRP INC	COM	70959W103	2,695	85,671	SH		DFND		85,671	0	0
TRUEBLUE INC	COM	89785X101	1,535	81,130	SH		DFND		81,130	0	0
SPARTANNASH CO	COM	847215100	1,095	35,822	SH		DFND		35,822	0	0
ECHOSTAR CORP	CL A	278768106	1,200	30,218	SH		DFND		30,218	0	0
LUMINEX CORP DEL	COM	55027E102	591	29,230	SH		DFND		29,230	0	0
TRIPLE-S MGMT CORP	CL B	896749108	1,954	79,972	SH		DFND		79,972	0	0
VALIDUS HOLDINGS LTD	COM SHS	G9319H102	830	17,077	SH		DFND		17,077	0	0
HAWAIIAN HOLDINGS INC	COM	419879101	4,116	108,433	SH		DFND		108,433	0	0
CARROLS RESTAURANT GROUP INC	COM	14574X104	1,493	125,490	SH		DFND		125,490	0	0
TRICO BANCSHARES	COM	896095106	865	31,354	SH		DFND		31,354	0	0
NXSTAGE MEDICAL INC	COM	67072V103	448	20,670	SH		DFND		20,670	0	0
JAZZ PHARMACEUTICALS PLC	SHS USD	G50871105	1,924	13,615	SH		DFND		13,615	0	0
BANC OF CALIFORNIA INC	COM	05990K106	2,087	115,320	SH		DFND		115,320	0	0
RACKSPACE HOSTING INC	COM	750086100	5,319	254,962	SH		DFND		254,962	0	0
CLEARWATER PAPER CORP	COM	18538R103	1,698	25,968	SH		DFND		25,968	0	0
PIEDMONT OFFICE REALTY TR IN	COM CL A	720190206	4,636	215,250	SH		DFND		215,250	0	0
COOPER STD HLDGS INC	COM	21676P103	1,482	18,762	SH		DFND		18,762	0	0
FIRST AMERN FINL CORP	COM	31847R102	4,542	112,938	SH		DFND		112,938	0	0
QLIK TECHNOLOGIES INC	COM	74733T105	1,864	63,010	SH		DFND		63,010	0	0
LEAR CORP	COM NEW	521865204	2,586	25,417	SH		DFND		25,417	0	0
PRIMERICA INC	COM	74164M108	4,131	72,166	SH		DFND		72,166	0	0
PEBBLEBROOK HOTEL TR	COM	70509V100	1,499	57,100	SH		DFND		57,100	0	0
GNC HLDGS INC	COM CL A	36191G107	2,780	114,460	SH		DFND		114,460	0	0
RLJ LODGING TR	COM	74965L101	4,603	214,590	SH		DFND		214,590	0	0
MICHAEL KORS HLDGS LTD	SHS	G60754101	1,801	36,398	SH		DFND		36,398	0	0
HOMESTREET INC	COM	43785V102	1,539	77,240	SH		DFND		77,240	0	0
CUSTOMERS BANCORP INC	COM	23204G100	1,940	77,200	SH		DFND		77,200	0	0
BLOOMIN BRANDS INC	COM	094235108	387	21,636	SH		DFND		21,636	0	0
DYNEGY INC NEW DEL	COM	26817R108	5,034	292,008	SH		DFND		292,008	0	0
ABBVIE INC	COM	00287Y109	6,926	111,876	SH		DFND		111,876	0	0
VWR CORP	COM	91843L103	1,072	37,079	SH		DFND		37,079	0	0
AMBAC FINL GROUP INC	COM NEW	023139884	741	45,030	SH		DFND		45,030	0	0
QUINTILES TRANSNATIO HLDGS I	COM	74876Y101	2,825	43,250	SH		DFND		43,250	0	0
GLOBAL BRASS & COPPR HLDGS I	COM	37953G103	1,374	50,354	SH		DFND		50,354	0	0
PLY GEM HLDGS INC	COM	72941W100	1,250	85,780	SH		DFND		85,780	0	0
HD SUPPLY HLDGS INC	COM	40416M105	1,547	44,430	SH		DFND		44,430	0	0
MALLINCKRODT PUB LTD CO	SHS	G5785G107	2,601	42,787	SH		DFND		42,787	0	0
KCG HLDGS INC	CL A	48244B100	1,138	85,544	SH		DFND		85,544	0	0
SPRINT CORP	COM SER 1	85207U105	65	14,446	SH		DFND		14,446	0	0
EMPIRE ST RLTY TR INC	CL A	292104106	4,475	235,672	SH		DFND		235,672	0	0
ESSENT GROUP LTD	COM	G3198U102	2,562	117,460	SH		DFND		117,460	0	0
FIVE PRIME THERAPEUTICS INC	COM	33830X104	847	20,480	SH		DFND		20,480	0	0
AMC ENTMT HLDGS INC	CL A COM	00165C104	334	12,080	SH		DFND		12,080	0	0
EP ENERGY CORP	CL A	268785102	98	19,010	SH		DFND		19,010	0	0
CONTINENTAL BLDG PRODS INC	COM	211171103	1,333	59,980	SH		DFND		59,980	0	0
NEW MEDIA INVT GROUP INC	COM	64704V106	856	47,370	SH		DFND		47,370	0	0
ALPHABET INC	CAP STK CL C	02079K107	336	486	SH		DFND		486	0	0
NAVIENT CORP	COM	63938C108	1,085	90,785	SH		DFND		90,785	0	0
TRINSEO S A	SHS	L9340P101	1,879	43,760	SH		DFND		43,760	0	0
RAYONIER ADVANCED MATLS INC	COM	75508B104	984	72,419	SH		DFND		72,419	0	0
CIVITAS SOLUTIONS INC	COM	17887R102	1,386	66,528	SH		DFND		66,528	0	0
CITIZENS FINL GROUP INC	COM	174610105	3,802	190,289	SH		DFND		190,289	0	0
INC RESH HLDGS INC	CL A	45329R109	1,629	42,720	SH		DFND		42,720	0	0
URBAN EDGE PPTYS	COM	91704F104	3,878	129,865	SH		DFND		129,865	0	0
XENIA HOTELS & RESORTS INC	COM	984017103	1,655	98,643	SH		DFND		98,643	0	0
LIVANOVA PLC	SHS	G5509L101	1,891	37,644	SH		DFND		37,644	0	0
SQUARE INC	CL A	852234103	859	94,875	SH		DFND		94,875	0	0
FIRST DATA CORP NEW	COM CL A	32008D106	1,870	168,950	SH		DFND		168,950	0	0
ATLASSIAN CORP PLC	CL A	G06242104	2,075	80,120	SH		DFND		80,120	0	0