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
COMCAST CORP NEW	CL A	20030N101	264	3,819	SH		DFND		3,819	0	0
BRINKER INTL INC	COM	109641100	1,472	29,718	SH		DFND		29,718	0	0
TUPPERWARE BRANDS CORP	COM	899896104	1,829	34,765	SH		DFND		34,765	0	0
OWENS ILL INC	COM NEW	690768403	3,961	227,513	SH		DFND		227,513	0	0
ISTAR INC	COM	45031U101	1,272	102,830	SH		DFND		102,830	0	0
HOST HOTELS & RESORTS INC	COM	44107P104	3,363	178,495	SH		DFND		178,495	0	0
FIRSTENERGY CORP	COM	337932107	3,207	103,560	SH		DFND		103,560	0	0
DUKE ENERGY CORP NEW	COM NEW	26441C204	1,214	15,638	SH		DFND		15,638	0	0
APPLE INC	COM	037833100	8,609	74,327	SH		DFND		74,327	0	0
ALLIANT ENERGY CORP	COM	018802108	214	5,660	SH		DFND		5,660	0	0
OFFICE DEPOT INC	COM	676220106	1,392	307,964	SH		DFND		307,964	0	0
CAMDEN PPTY TR	SH BEN INT	133131102	1,618	19,250	SH		DFND		19,250	0	0
INTL PAPER CO	COM	460146103	3,196	60,234	SH		DFND		60,234	0	0
IDEXX LABS INC	COM	45168D104	2,239	19,095	SH		DFND		19,095	0	0
AMKOR TECHNOLOGY INC	COM	031652100	4,220	399,955	SH		DFND		399,955	0	0
INTERDIGITAL INC	COM	45867G101	2,559	28,013	SH		DFND		28,013	0	0
CITRIX SYS INC	COM	177376100	3,340	37,393	SH		DFND		37,393	0	0
ZIONS BANCORPORATION	COM	989701107	4,475	103,980	SH		DFND		103,980	0	0
WASHINGTON REAL ESTATE INVT	SH BEN INT	939653101	1,246	38,112	SH		DFND		38,112	0	0
CONVERGYS CORP	COM	212485106	1,970	80,211	SH		DFND		80,211	0	0
SANMINA CORPORATION	COM	801056102	2,451	66,865	SH		DFND		66,865	0	0
ROYAL CARIBBEAN CRUISES LTD	COM	V7780T103	1,682	20,508	SH		DFND		20,508	0	0
VERISIGN INC	COM	92343E102	2,630	34,575	SH		DFND		34,575	0	0
AES CORP	COM	00130H105	1,386	119,275	SH		DFND		119,275	0	0
CIRRUS LOGIC INC	COM	172755100	2,163	38,250	SH		DFND		38,250	0	0
REGIONS FINL CORP NEW	COM	7591EP100	6,640	462,402	SH		DFND		462,402	0	0
UNISYS CORP	COM NEW	909214306	1,786	119,480	SH		DFND		119,480	0	0
ARCHER DANIELS MIDLAND CO	COM	039483102	4,510	98,795	SH		DFND		98,795	0	0
AMAZON COM INC	COM	023135106	349	465	SH		DFND		465	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	565	3,469	SH		DFND		3,469	0	0
EMERSON ELEC CO	COM	291011104	1,912	34,291	SH		DFND		34,291	0	0
BOEING CO	COM	097023105	3,777	24,263	SH		DFND		24,263	0	0
REALOGY HLDGS CORP	COM	75605Y106	1,295	50,333	SH		DFND		50,333	0	0
HELMERICH & PAYNE INC	COM	423452101	1,321	17,067	SH		DFND		17,067	0	0
ONEOK INC NEW	COM	682680103	2,862	49,846	SH		DFND		49,846	0	0
TANGER FACTORY OUTLET CTRS I	COM	875465106	1,434	40,076	SH		DFND		40,076	0	0
UNITED NAT FOODS INC	COM	911163103	701	14,690	SH		DFND		14,690	0	0
AMGEN INC	COM	031162100	5,382	36,807	SH		DFND		36,807	0	0
BEST BUY INC	COM	086516101	1,387	32,516	SH		DFND		32,516	0	0
EBAY INC	COM	278642103	3,689	124,262	SH		DFND		124,262	0	0
ALTRIA GROUP INC	COM	02209S103	5,183	76,646	SH		DFND		76,646	0	0
INTEL CORP	COM	458140100	4,516	124,507	SH		DFND		124,507	0	0
ORACLE CORP	COM	68389X105	3,379	87,881	SH		DFND		87,881	0	0
QUALCOMM INC	COM	747525103	4,992	76,568	SH		DFND		76,568	0	0
DISNEY WALT CO	COM DISNEY	254687106	228	2,188	SH		DFND		2,188	0	0
SYSCO CORP	COM	871829107	1,151	20,792	SH		DFND		20,792	0	0
US BANCORP DEL	COM NEW	902973304	200	3,901	SH		DFND		3,901	0	0
JOHNSON & JOHNSON	COM	478160104	1,669	14,490	SH		DFND		14,490	0	0
PFIZER INC	COM	717081103	6,842	210,648	SH		DFND		210,648	0	0
EXELON CORP	COM	30161N101	3,688	103,925	SH		DFND		103,925	0	0
AMERISOURCEBERGEN CORP	COM	03073E105	432	5,526	SH		DFND		5,526	0	0
CHEVRON CORP NEW	COM	166764100	3,345	28,421	SH		DFND		28,421	0	0
MICROSOFT CORP	COM	594918104	6,360	102,342	SH		DFND		102,342	0	0
UNITED PARCEL SERVICE INC	CL B	911312106	1,021	8,908	SH		DFND		8,908	0	0
AT&T INC	COM	00206R102	13,714	322,452	SH		DFND		322,452	0	0
PRUDENTIAL FINL INC	COM	744320102	3,659	35,167	SH		DFND		35,167	0	0
NCR CORP NEW	COM	62886E108	1,460	35,988	SH		DFND		35,988	0	0
CITIGROUP INC	COM NEW	172967424	5,826	98,034	SH		DFND		98,034	0	0
CA INC	COM	12673P105	2,047	64,426	SH		DFND		64,426	0	0
CISCO SYS INC	COM	17275R102	2,207	73,044	SH		DFND		73,044	0	0
INTERNATIONAL BUSINESS MACHS	COM	459200101	2,738	16,493	SH		DFND		16,493	0	0
COCA COLA CO	COM	191216100	223	5,369	SH		DFND		5,369	0	0
PEPSICO INC	COM	713448108	3,910	37,368	SH		DFND		37,368	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	4,866	91,159	SH		DFND		91,159	0	0
XEROX CORP	COM	984121103	351	40,156	SH		DFND		40,156	0	0
WALGREENS BOOTS ALLIANCE INC	COM	931427108	214	2,585	SH		DFND		2,585	0	0
BANK AMER CORP	COM	060505104	6,550	296,386	SH		DFND		296,386	0	0
EXXON MOBIL CORP	COM	30231G102	3,065	33,953	SH		DFND		33,953	0	0
WAL-MART STORES INC	COM	931142103	7,648	110,649	SH		DFND		110,649	0	0
APPLIED MATLS INC	COM	038222105	2,326	72,080	SH		DFND		72,080	0	0
TTM TECHNOLOGIES INC	COM	87305R109	2,230	163,643	SH		DFND		163,643	0	0
BRADY CORP	CL A	104674106	806	21,454	SH		DFND		21,454	0	0
CARDINAL HEALTH INC	COM	14149Y108	464	6,441	SH		DFND		6,441	0	0
TARGET CORP	COM	87612E106	4,262	59,001	SH		DFND		59,001	0	0
CAPITAL ONE FINL CORP	COM	14040H105	6,137	70,342	SH		DFND		70,342	0	0
KOHLS CORP	COM	500255104	4,273	86,543	SH		DFND		86,543	0	0
CVS HEALTH CORP	COM	126650100	2,182	27,651	SH		DFND		27,651	0	0
DANAHER CORP DEL	COM	235851102	2,284	29,337	SH		DFND		29,337	0	0
MCKESSON CORP	COM	58155Q103	2,552	18,171	SH		DFND		18,171	0	0
MILLER HERMAN INC	COM	600544100	2,803	81,954	SH		DFND		81,954	0	0
MERCK & CO INC	COM	58933Y105	2,384	40,498	SH		DFND		40,498	0	0
MORGAN STANLEY	COM NEW	617446448	8,100	191,723	SH		DFND		191,723	0	0
NABORS INDUSTRIES LTD	SHS	G6359F103	4,367	266,251	SH		DFND		266,251	0	0
NCI BUILDING SYS INC	COM NEW	628852204	1,451	92,728	SH		DFND		92,728	0	0
ENTERGY CORP NEW	COM	29364G103	3,860	52,535	SH		DFND		52,535	0	0
FIFTH THIRD BANCORP	COM	316773100	6,478	240,206	SH		DFND		240,206	0	0
FLOWERS FOODS INC	COM	343498101	801	40,105	SH		DFND		40,105	0	0
REINSURANCE GROUP AMER INC	COM NEW	759351604	2,005	15,935	SH		DFND		15,935	0	0
PROCTER AND GAMBLE CO	COM	742718109	6,187	73,590	SH		DFND		73,590	0	0
GENERAL ELECTRIC CO	COM	369604103	5,790	183,231	SH		DFND		183,231	0	0
KIMBERLY CLARK CORP	COM	494368103	1,183	10,369	SH		DFND		10,369	0	0
GILEAD SCIENCES INC	COM	375558103	4,340	60,605	SH		DFND		60,605	0	0
HOME DEPOT INC	COM	437076102	3,093	23,067	SH		DFND		23,067	0	0
INGERSOLL-RAND PLC	SHS	G47791101	2,821	37,588	SH		DFND		37,588	0	0
JABIL CIRCUIT INC	COM	466313103	4,622	195,289	SH		DFND		195,289	0	0
VIAVI SOLUTIONS INC	COM	925550105	1,285	157,068	SH		DFND		157,068	0	0
JPMORGAN CHASE & CO	COM	46625H100	12,454	144,332	SH		DFND		144,332	0	0
SIRIUS XM HLDGS INC	COM	82968B103	2,175	488,852	SH		DFND		488,852	0	0
HP INC	COM	40434L105	1,769	119,234	SH		DFND		119,234	0	0
WELLS FARGO & CO NEW	COM	949746101	2,555	46,365	SH		DFND		46,365	0	0
CORNING INC	COM	219350105	2,091	86,168	SH		DFND		86,168	0	0
WADDELL & REED FINL INC	CL A	930059100	851	43,597	SH		DFND		43,597	0	0
FORD MTR CO DEL	COM PAR $0.01	345370860	1,239	102,157	SH		DFND		102,157	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	351	2,195	SH		DFND		2,195	0	0
COEUR MNG INC	COM NEW	192108504	264	29,080	SH		DFND		29,080	0	0
OMNICOM GROUP INC	COM	681919106	1,169	13,730	SH		DFND		13,730	0	0
CIT GROUP INC	COM NEW	125581801	2,667	62,498	SH		DFND		62,498	0	0
CENTERPOINT ENERGY INC	COM	15189T107	3,583	145,428	SH		DFND		145,428	0	0
CHEESECAKE FACTORY INC	COM	163072101	1,596	26,645	SH		DFND		26,645	0	0
HAWAIIAN ELEC INDUSTRIES	COM	419870100	3,253	98,380	SH		DFND		98,380	0	0
EXPRESS SCRIPTS HLDG CO	COM	30219G108	2,526	36,726	SH		DFND		36,726	0	0
HOLLYFRONTIER CORP	COM	436106108	1,362	41,586	SH		DFND		41,586	0	0
PRINCIPAL FINL GROUP INC	COM	74251V102	3,525	60,918	SH		DFND		60,918	0	0
VISHAY INTERTECHNOLOGY INC	COM	928298108	2,908	179,514	SH		DFND		179,514	0	0
BANKRATE INC DEL	COM	06647F102	1,864	168,669	SH		DFND		168,669	0	0
FIRST BANCORP P R	COM NEW	318672706	2,208	334,016	SH		DFND		334,016	0	0
OFG BANCORP	COM	67103X102	1,213	92,592	SH		DFND		92,592	0	0
WORTHINGTON INDS INC	COM	981811102	2,316	48,820	SH		DFND		48,820	0	0
VALERO ENERGY CORP NEW	COM	91913Y100	6,938	101,559	SH		DFND		101,559	0	0
NAVISTAR INTL CORP NEW	COM	63934E108	1,533	48,879	SH		DFND		48,879	0	0
IDACORP INC	COM	451107106	2,707	33,610	SH		DFND		33,610	0	0
EQUITY COMWLTH	COM SH BEN INT	294628102	1,233	40,764	SH		DFND		40,764	0	0
CNO FINL GROUP INC	COM	12621E103	1,104	57,632	SH		DFND		57,632	0	0
PIPER JAFFRAY COS	COM	724078100	2,254	31,087	SH		DFND		31,087	0	0
CARNIVAL CORP	UNIT 99/99/9999	143658300	1,744	33,497	SH		DFND		33,497	0	0
DARDEN RESTAURANTS INC	COM	237194105	1,668	22,938	SH		DFND		22,938	0	0
LEXINGTON REALTY TRUST	COM	529043101	321	29,686	SH		DFND		29,686	0	0
LIFEPOINT HEALTH INC	COM	53219L109	1,446	25,454	SH		DFND		25,454	0	0
RAMCO-GERSHENSON PPTYS TR	COM SH BEN INT	751452202	791	47,738	SH		DFND		47,738	0	0
LENNAR CORP	CL A	526057104	821	19,130	SH		DFND		19,130	0	0
ALLSCRIPTS HEALTHCARE SOLUTN	COM	01988P108	3,452	338,130	SH		DFND		338,130	0	0
OCWEN FINL CORP	COM NEW	675746309	1,446	268,240	SH		DFND		268,240	0	0
CAREER EDUCATION CORP	COM	141665109	1,485	147,134	SH		DFND		147,134	0	0
MERITOR INC	COM	59001K100	1,610	129,626	SH		DFND		129,626	0	0
NVIDIA CORP	COM	67066G104	3,052	28,597	SH		DFND		28,597	0	0
BAKER HUGHES INC	COM	057224107	253	3,895	SH		DFND		3,895	0	0
EATON CORP PLC	SHS	G29183103	1,819	27,110	SH		DFND		27,110	0	0
TESORO CORP	COM	881609101	2,974	34,004	SH		DFND		34,004	0	0
UNITED RENTALS INC	COM	911363109	1,969	18,648	SH		DFND		18,648	0	0
ROWAN COMPANIES PLC	SHS CL A	G7665A101	5,402	285,991	SH		DFND		285,991	0	0
ASSOCIATED BANC CORP	COM	045487105	1,065	43,117	SH		DFND		43,117	0	0
JACOBS ENGR GROUP INC DEL	COM	469814107	1,609	28,221	SH		DFND		28,221	0	0
PENN NATL GAMING INC	COM	707569109	1,599	115,952	SH		DFND		115,952	0	0
FIRST INDUSTRIAL REALTY TRUS	COM	32054K103	1,536	54,766	SH		DFND		54,766	0	0
TCF FINL CORP	COM	872275102	3,202	163,450	SH		DFND		163,450	0	0
URBAN OUTFITTERS INC	COM	917047102	2,088	73,331	SH		DFND		73,331	0	0
CORELOGIC INC	COM	21871D103	3,051	82,844	SH		DFND		82,844	0	0
LINCOLN NATL CORP IND	COM	534187109	2,275	34,335	SH		DFND		34,335	0	0
OWENS & MINOR INC NEW	COM	690732102	1,473	41,736	SH		DFND		41,736	0	0
STEEL DYNAMICS INC	COM	858119100	1,344	37,768	SH		DFND		37,768	0	0
CUMMINS INC	COM	231021106	2,544	18,611	SH		DFND		18,611	0	0
FRANKLIN RES INC	COM	354613101	311	7,856	SH		DFND		7,856	0	0
DEVRY ED GROUP INC	COM	251893103	1,420	45,510	SH		DFND		45,510	0	0
METLIFE INC	COM	59156R108	2,048	38,005	SH		DFND		38,005	0	0
MCDERMOTT INTL INC	COM	580037109	5,069	685,942	SH		DFND		685,942	0	0
ENDO INTL PLC	SHS	G30401106	4,316	262,067	SH		DFND		262,067	0	0
SWIFT TRANSN CO	CL A	87074U101	3,261	133,883	SH		DFND		133,883	0	0
GIBRALTAR INDS INC	COM	374689107	1,372	32,932	SH		DFND		32,932	0	0
TOLL BROTHERS INC	COM	889478103	1,186	38,243	SH		DFND		38,243	0	0
AETNA INC NEW	COM	00817Y108	2,318	18,691	SH		DFND		18,691	0	0
U S G CORP	COM NEW	903293405	3,349	115,968	SH		DFND		115,968	0	0
TYSON FOODS INC	CL A	902494103	3,808	61,736	SH		DFND		61,736	0	0
CHICAGO BRIDGE & IRON CO N V	COM	167250109	1,277	40,232	SH		DFND		40,232	0	0
CARDIOVASCULAR SYS INC DEL	COM	141619106	1,535	63,410	SH		DFND		63,410	0	0
ANGIODYNAMICS INC	COM	03475V101	1,564	92,696	SH		DFND		92,696	0	0
ALPHABET INC	CAP STK CL A	02079K305	3,567	4,501	SH		DFND		4,501	0	0
WELLCARE HEALTH PLANS INC	COM	94946T106	2,874	20,967	SH		DFND		20,967	0	0
DEAN FOODS CO NEW	COM NEW	242370203	5,559	255,238	SH		DFND		255,238	0	0
NU SKIN ENTERPRISES INC	CL A	67018T105	217	4,544	SH		DFND		4,544	0	0
MYRIAD GENETICS INC	COM	62855J104	273	16,378	SH		DFND		16,378	0	0
MANPOWERGROUP INC	COM	56418H100	1,013	11,396	SH		DFND		11,396	0	0
DISCOVERY COMMUNICATNS NEW	COM SER A	25470F104	4,399	160,474	SH		DFND		160,474	0	0
WORLD FUEL SVCS CORP	COM	981475106	3,128	68,132	SH		DFND		68,132	0	0
GARMIN LTD	SHS	H2906T109	1,250	25,779	SH		DFND		25,779	0	0
OSHKOSH CORP	COM	688239201	1,517	23,482	SH		DFND		23,482	0	0
TREX CO INC	COM	89531P105	2,503	38,860	SH		DFND		38,860	0	0
QUANTA SVCS INC	COM	74762E102	1,598	45,848	SH		DFND		45,848	0	0
AMERIPRISE FINL INC	COM	03076C106	2,620	23,612	SH		DFND		23,612	0	0
SOUTHWEST GAS CORP	COM	844895102	4,808	62,755	SH		DFND		62,755	0	0
BIG LOTS INC	COM	089302103	2,930	58,354	SH		DFND		58,354	0	0
TORCHMARK CORP	COM	891027104	1,652	22,397	SH		DFND		22,397	0	0
ICONIX BRAND GROUP INC	COM	451055107	1,291	138,190	SH		DFND		138,190	0	0
WINDSTREAM HLDGS INC	COM NEW	97382A200	352	48,037	SH		DFND		48,037	0	0
WOLVERINE WORLD WIDE INC	COM	978097103	1,438	65,532	SH		DFND		65,532	0	0
MACQUARIE INFRASTRUCTURE COR	COM	55608B105	810	9,918	SH		DFND		9,918	0	0
SKYWEST INC	COM	830879102	3,261	89,466	SH		DFND		89,466	0	0
SONIC AUTOMOTIVE INC	CL A	83545G102	1,724	75,295	SH		DFND		75,295	0	0
TENNECO INC	COM	880349105	1,483	23,733	SH		DFND		23,733	0	0
MOLINA HEALTHCARE INC	COM	60855R100	928	17,107	SH		DFND		17,107	0	0
TITAN INTL INC ILL	COM	88830M102	1,307	116,554	SH		DFND		116,554	0	0
CHILDRENS PL INC	COM	168905107	1,704	16,880	SH		DFND		16,880	0	0
KELLY SVCS INC	CL A	488152208	1,849	80,655	SH		DFND		80,655	0	0
FTI CONSULTING INC	COM	302941109	2,885	63,995	SH		DFND		63,995	0	0
CBL & ASSOC PPTYS INC	COM	124830100	1,803	156,774	SH		DFND		156,774	0	0
HUNTSMAN CORP	COM	447011107	3,075	161,162	SH		DFND		161,162	0	0
BRUKER CORP	COM	116794108	2,019	95,333	SH		DFND		95,333	0	0
LA Z BOY INC	COM	505336107	1,496	48,168	SH		DFND		48,168	0	0
EMCOR GROUP INC	COM	29084Q100	3,496	49,411	SH		DFND		49,411	0	0
UNITED CONTL HLDGS INC	COM	910047109	2,011	27,597	SH		DFND		27,597	0	0
EXELIXIS INC	COM	30161Q104	1,755	117,737	SH		DFND		117,737	0	0
LASALLE HOTEL PPTYS	COM SH BEN INT	517942108	5,015	164,603	SH		DFND		164,603	0	0
NEUSTAR INC	CL A	64126X201	1,241	37,159	SH		DFND		37,159	0	0
NATIONAL HEALTH INVS INC	COM	63633D104	1,455	19,621	SH		DFND		19,621	0	0
EAST WEST BANCORP INC	COM	27579R104	2,227	43,812	SH		DFND		43,812	0	0
HANCOCK HLDG CO	COM	410120109	2,431	56,402	SH		DFND		56,402	0	0
MASTEC INC	COM	576323109	308	8,061	SH		DFND		8,061	0	0
REX AMERICAN RESOURCES CORP	COM	761624105	253	2,564	SH		DFND		2,564	0	0
MOOG INC	CL A	615394202	1,765	26,870	SH		DFND		26,870	0	0
ATWOOD OCEANICS INC	COM	050095108	1,112	84,686	SH		DFND		84,686	0	0
UNITED THERAPEUTICS CORP DEL	COM	91307C102	2,553	17,800	SH		DFND		17,800	0	0
COGENT COMMUNICATIONS HLDGS	COM NEW	19239V302	1,761	42,585	SH		DFND		42,585	0	0
HMS HLDGS CORP	COM	40425J101	1,273	70,122	SH		DFND		70,122	0	0
INSPERITY INC	COM	45778Q107	215	3,030	SH		DFND		3,030	0	0
INVESCO LTD	SHS	G491BT108	1,658	54,661	SH		DFND		54,661	0	0
MASTERCARD INCORPORATED	CL A	57636Q104	3,344	32,384	SH		DFND		32,384	0	0
PAREXEL INTL CORP	COM	699462107	4,589	69,819	SH		DFND		69,819	0	0
WORLD ACCEP CORP DEL	COM	981419104	953	14,828	SH		DFND		14,828	0	0
MEDIFAST INC	COM	58470H101	1,254	30,121	SH		DFND		30,121	0	0
KIMBALL INTL INC	CL B	494274103	1,868	106,384	SH		DFND		106,384	0	0
CORCEPT THERAPEUTICS INC	COM	218352102	777	107,040	SH		DFND		107,040	0	0
WESTERN REFNG INC	COM	959319104	1,702	44,960	SH		DFND		44,960	0	0
WYNDHAM WORLDWIDE CORP	COM	98310W108	1,490	19,508	SH		DFND		19,508	0	0
DARLING INGREDIENTS INC	COM	237266101	5,194	402,320	SH		DFND		402,320	0	0
REGAL ENTMT GROUP	CL A	758766109	1,859	90,239	SH		DFND		90,239	0	0
SUNSTONE HOTEL INVS INC NEW	COM	867892101	1,370	89,861	SH		DFND		89,861	0	0
THOMSON REUTERS CORP	COM	884903105	1,420	32,446	SH		DFND		32,446	0	0
SIGNET JEWELERS LIMITED	SHS	G81276100	2,285	24,244	SH		DFND		24,244	0	0
ARGAN INC	COM	04010E109	1,713	24,280	SH		DFND		24,280	0	0
WESTERN UN CO	COM	959802109	3,319	152,825	SH		DFND		152,825	0	0
OWENS CORNING NEW	COM	690742101	2,117	41,058	SH		DFND		41,058	0	0
EMERGENT BIOSOLUTIONS INC	COM	29089Q105	1,228	37,389	SH		DFND		37,389	0	0
GREIF INC	CL A	397624107	1,600	31,178	SH		DFND		31,178	0	0
POWER INTEGRATIONS INC	COM	739276103	403	5,940	SH		DFND		5,940	0	0
WEB COM GROUP INC	COM	94733A104	2,315	109,455	SH		DFND		109,455	0	0
DISCOVER FINL SVCS	COM	254709108	2,773	38,460	SH		DFND		38,460	0	0
VMWARE INC	CL A COM	928563402	1,712	21,739	SH		DFND		21,739	0	0
TERADATA CORP DEL	COM	88076W103	3,603	132,614	SH		DFND		132,614	0	0
ARCHROCK INC	COM	03957W106	1,496	113,320	SH		DFND		113,320	0	0
CHART INDS INC	COM PAR $0.01	16115Q308	1,658	46,025	SH		DFND		46,025	0	0
MASIMO CORP	COM	574795100	1,760	26,115	SH		DFND		26,115	0	0
PENSKE AUTOMOTIVE GRP INC	COM	70959W103	4,076	78,624	SH		DFND		78,624	0	0
SPARTANNASH CO	COM	847215100	632	15,980	SH		DFND		15,980	0	0
LUMINEX CORP DEL	COM	55027E102	792	39,160	SH		DFND		39,160	0	0
VALIDUS HOLDINGS LTD	COM SHS	G9319H102	1,020	18,533	SH		DFND		18,533	0	0
HAWAIIAN HOLDINGS INC	COM	419879101	3,879	68,051	SH		DFND		68,051	0	0
NANOMETRICS INC	COM	630077105	1,788	71,346	SH		DFND		71,346	0	0
CARDTRONICS PLC	SHS CL A	G1991C105	5,649	103,513	SH		DFND		103,513	0	0
COMMVAULT SYSTEMS INC	COM	204166102	4,895	95,233	SH		DFND		95,233	0	0
SCRIPPS NETWORKS INTERACT IN	CL A COM	811065101	3,032	42,481	SH		DFND		42,481	0	0
PACWEST BANCORP DEL	COM	695263103	959	17,624	SH		DFND		17,624	0	0
AMAG PHARMACEUTICALS INC	COM	00163U106	1,140	32,770	SH		DFND		32,770	0	0
MYR GROUP INC DEL	COM	55405W104	1,559	41,378	SH		DFND		41,378	0	0
DIGITALGLOBE INC	COM NEW	25389M877	1,641	57,276	SH		DFND		57,276	0	0
ALTISOURCE PORTFOLIO SOLNS S	REG SHS	L0175J104	1,641	61,730	SH		DFND		61,730	0	0
SPECTRUM BRANDS HLDGS INC	COM	84763R101	228	1,860	SH		DFND		1,860	0	0
HRG GROUP INC	COM	40434J100	1,714	110,174	SH		DFND		110,174	0	0
PIEDMONT OFFICE REALTY TR IN	COM CL A	720190206	3,243	155,112	SH		DFND		155,112	0	0
HYATT HOTELS CORP	COM CL A	448579102	3,457	62,561	SH		DFND		62,561	0	0
LYONDELLBASELL INDUSTRIES N	SHS - A -	N53745100	1,282	14,946	SH		DFND		14,946	0	0
COOPER STD HLDGS INC	COM	21676P103	2,700	26,116	SH		DFND		26,116	0	0
HUDSON PAC PPTYS INC	COM	444097109	2,948	84,770	SH		DFND		84,770	0	0
LEAR CORP	COM NEW	521865204	2,591	19,577	SH		DFND		19,577	0	0
QUAD / GRAPHICS INC	COM CL A	747301109	1,583	58,891	SH		DFND		58,891	0	0
PRIMERICA INC	COM	74164M108	3,944	57,035	SH		DFND		57,035	0	0
PEBBLEBROOK HOTEL TR	COM	70509V100	1,689	56,766	SH		DFND		56,766	0	0
GENERAL MTRS CO	COM	37045V100	236	6,770	SH		DFND		6,770	0	0
SUMMIT HOTEL PPTYS	COM	866082100	1,882	117,430	SH		DFND		117,430	0	0
RLJ LODGING TR	COM	74965L101	1,710	69,826	SH		DFND		69,826	0	0
MARATHON PETE CORP	COM	56585A102	3,151	62,577	SH		DFND		62,577	0	0
SUNCOKE ENERGY INC	COM	86722A103	1,149	101,333	SH		DFND		101,333	0	0
LYON WILLIAM HOMES	CL A NEW	552074700	1,191	62,610	SH		DFND		62,610	0	0
NATIONSTAR MTG HLDGS INC	COM	63861C109	1,649	91,307	SH		DFND		91,307	0	0
HOMESTREET INC	COM	43785V102	1,640	51,913	SH		DFND		51,913	0	0
SUPERNUS PHARMACEUTICALS INC	COM	868459108	1,527	60,485	SH		DFND		60,485	0	0
FACEBOOK INC	CL A	30303M102	214	1,860	SH		DFND		1,860	0	0
BLOOMIN BRANDS INC	COM	094235108	1,441	79,922	SH		DFND		79,922	0	0
QUALYS INC	COM	74758T303	1,665	52,621	SH		DFND		52,621	0	0
PBF ENERGY INC	CL A	69318G106	322	11,563	SH		DFND		11,563	0	0
ABBVIE INC	COM	00287Y109	7,347	117,334	SH		DFND		117,334	0	0
VWR CORP	COM	91843L103	1,095	43,762	SH		DFND		43,762	0	0
TAYLOR MORRISON HOME CORP	CL A	87724P106	1,085	56,349	SH		DFND		56,349	0	0
T MOBILE US INC	COM	872590104	261	4,533	SH		DFND		4,533	0	0
AMBAC FINL GROUP INC	COM NEW	023139884	967	42,990	SH		DFND		42,990	0	0
QUINTILES IMS HOLDINGS INC	COM	74876Y101	1,340	17,616	SH		DFND		17,616	0	0
PLY GEM HLDGS INC	COM	72941W100	1,691	104,035	SH		DFND		104,035	0	0
ARMADA HOFFLER PPTYS INC	COM	04208T108	1,692	116,140	SH		DFND		116,140	0	0
MALLINCKRODT PUB LTD CO	SHS	G5785G107	279	5,605	SH		DFND		5,605	0	0
SPRINT CORP	COM SER 1	85207U105	121	14,418	SH		DFND		14,418	0	0
EMPIRE ST RLTY TR INC	CL A	292104106	1,179	58,405	SH		DFND		58,405	0	0
ESSENT GROUP LTD	COM	G3198U102	3,941	121,756	SH		DFND		121,756	0	0
AMC ENTMT HLDGS INC	CL A COM	00165C104	869	25,810	SH		DFND		25,810	0	0
CONTINENTAL BLDG PRODS INC	COM	211171103	1,517	65,665	SH		DFND		65,665	0	0
ALLY FINL INC	COM	02005N100	1,770	93,063	SH		DFND		93,063	0	0
ALPHABET INC	CAP STK CL C	02079K107	3,713	4,811	SH		DFND		4,811	0	0
NAVIENT CORP	COM	63938C108	3,238	197,074	SH		DFND		197,074	0	0
TRINSEO S A	SHS	L9340P101	2,067	34,853	SH		DFND		34,853	0	0
RAYONIER ADVANCED MATLS INC	COM	75508B104	1,201	77,696	SH		DFND		77,696	0	0
TRAVELPORT WORLDWIDE LTD	SHS	G9019D104	379	26,904	SH		DFND		26,904	0	0
DAVE & BUSTERS ENTMT INC	COM	238337109	1,783	31,670	SH		DFND		31,670	0	0
HALYARD HEALTH INC	COM	40650V100	3,813	103,099	SH		DFND		103,099	0	0
INFRAREIT INC	COM	45685L100	1,705	95,200	SH		DFND		95,200	0	0
UNIVAR INC	COM	91336L107	1,762	62,099	SH		DFND		62,099	0	0
CHEMOURS CO	COM	163851108	3,644	164,960	SH		DFND		164,960	0	0
HEWLETT PACKARD ENTERPRISE C	COM	42824C109	2,392	103,362	SH		DFND		103,362	0	0
LIBERTY MEDIA CORP DELAWARE	COM A SIRIUSXM	531229409	285	8,260	SH		DFND		8,260	0	0
ACACIA COMMUNICATIONS INC	COM	00401C108	912	14,765	SH		DFND		14,765	0	0
MEDPACE HLDGS INC	COM	58506Q109	746	20,683	SH		DFND		20,683	0	0