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
AMAZON COM INC	COM	023135106	1,825	2,059	SH		DFND		2,059	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	610	3,659	SH		DFND		3,659	0	0
BOEING CO	COM	097023105	9,732	55,027	SH		DFND		55,027	0	0
REALOGY HLDGS CORP	COM	75605Y106	1,592	53,437	SH		DFND		53,437	0	0
HELMERICH & PAYNE INC	COM	423452101	1,066	16,015	SH		DFND		16,015	0	0
UNITED NAT FOODS INC	COM	911163103	609	14,091	SH		DFND		14,091	0	0
AMGEN INC	COM	031162100	5,712	34,817	SH		DFND		34,817	0	0
BEST BUY INC	COM	086516101	2,885	58,695	SH		DFND		58,695	0	0
EBAY INC	COM	278642103	3,622	107,885	SH		DFND		107,885	0	0
ALTRIA GROUP INC	COM	02209S103	3,677	51,487	SH		DFND		51,487	0	0
INTEL CORP	COM	458140100	6,036	167,346	SH		DFND		167,346	0	0
ORACLE CORP	COM	68389X105	297	6,653	SH		DFND		6,653	0	0
QUALCOMM INC	COM	747525103	1,563	27,264	SH		DFND		27,264	0	0
DISNEY WALT CO	COM DISNEY	254687106	269	2,373	SH		DFND		2,373	0	0
SYSCO CORP	COM	871829107	1,022	19,685	SH		DFND		19,685	0	0
HP INC	COM	40434L105	417	23,298	SH		DFND		23,298	0	0
ORTHOFIX INTL N V	COM	N6748L102	1,450	38,020	SH		DFND		38,020	0	0
WELLS FARGO & CO NEW	COM	949746101	2,492	44,769	SH		DFND		44,769	0	0
CORNING INC	COM	219350105	2,258	83,645	SH		DFND		83,645	0	0
MGIC INVT CORP WIS	COM	552848103	3,924	387,350	SH		DFND		387,350	0	0
FORD MTR CO DEL	COM PAR $0.01	345370860	1,140	97,950	SH		DFND		97,950	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	2,626	16,008	SH		DFND		16,008	0	0
MAXIM INTEGRATED PRODS INC	COM	57772K101	1,025	22,800	SH		DFND		22,800	0	0
OMNICOM GROUP INC	COM	681919106	1,114	12,925	SH		DFND		12,925	0	0
COMCAST CORP NEW	CL A	20030N101	302	8,041	SH		DFND		8,041	0	0
TUPPERWARE BRANDS CORP	COM	899896104	1,027	16,369	SH		DFND		16,369	0	0
OWENS ILL INC	COM NEW	690768403	4,285	210,260	SH		DFND		210,260	0	0
HOST HOTELS & RESORTS INC	COM	44107P104	3,247	174,013	SH		DFND		174,013	0	0
FIRSTENERGY CORP	COM	337932107	913	28,682	SH		DFND		28,682	0	0
DUKE ENERGY CORP NEW	COM NEW	26441C204	1,219	14,860	SH		DFND		14,860	0	0
APPLE INC	COM	037833100	8,905	61,989	SH		DFND		61,989	0	0
AMERICAN AIRLS GROUP INC	COM	02376R102	984	23,267	SH		DFND		23,267	0	0
UNITED STATES STL CORP NEW	COM	912909108	1,283	37,937	SH		DFND		37,937	0	0
ALTISOURCE PORTFOLIO SOLNS S	REG SHS	L0175J104	1,154	31,368	SH		DFND		31,368	0	0
HRG GROUP INC	COM	40434J100	3,835	198,505	SH		DFND		198,505	0	0
HYATT HOTELS CORP	COM CL A	448579102	2,606	48,285	SH		DFND		48,285	0	0
FIRST INTST BANCSYSTEM INC	COM CL A	32055Y201	664	16,751	SH		DFND		16,751	0	0
LYONDELLBASELL INDUSTRIES N	SHS - A -	N53745100	1,287	14,113	SH		DFND		14,113	0	0
COOPER STD HLDGS INC	COM	21676P103	1,395	12,575	SH		DFND		12,575	0	0
LEAR CORP	COM NEW	521865204	1,938	13,690	SH		DFND		13,690	0	0
QUAD / GRAPHICS INC	COM CL A	747301109	2,823	111,853	SH		DFND		111,853	0	0
PRIMERICA INC	COM	74164M108	3,952	48,080	SH		DFND		48,080	0	0
PEBBLEBROOK HOTEL TR	COM	70509V100	3,114	106,624	SH		DFND		106,624	0	0
SABRA HEALTH CARE REIT INC	COM	78573L106	1,202	43,054	SH		DFND		43,054	0	0
GENERAL MTRS CO	COM	37045V100	245	6,922	SH		DFND		6,922	0	0
BOOZ ALLEN HAMILTON HLDG COR	CL A	099502106	2,026	57,250	SH		DFND		57,250	0	0
LPL FINL HLDGS INC	COM	50212V100	1,634	41,029	SH		DFND		41,029	0	0
WALKER & DUNLOP INC	COM	93148P102	1,667	39,978	SH		DFND		39,978	0	0
SUMMIT HOTEL PPTYS	COM	866082100	1,799	112,596	SH		DFND		112,596	0	0
RLJ LODGING TR	COM	74965L101	4,539	193,071	SH		DFND		193,071	0	0
MARATHON PETE CORP	COM	56585A102	2,971	58,782	SH		DFND		58,782	0	0
NATIONSTAR MTG HLDGS INC	COM	63861C109	859	54,516	SH		DFND		54,516	0	0
SUPERNUS PHARMACEUTICALS INC	COM	868459108	1,790	57,180	SH		DFND		57,180	0	0
FACEBOOK INC	CL A	30303M102	306	2,153	SH		DFND		2,153	0	0
US BANCORP DEL	COM NEW	902973304	206	4,008	SH		DFND		4,008	0	0
JOHNSON & JOHNSON	COM	478160104	1,733	13,914	SH		DFND		13,914	0	0
PFIZER INC	COM	717081103	8,840	258,415	SH		DFND		258,415	0	0
EXELON CORP	COM	30161N101	3,694	102,673	SH		DFND		102,673	0	0
AMERISOURCEBERGEN CORP	COM	03073e105	2,805	31,690	SH		DFND		31,690	0	0
CHEVRON CORP NEW	COM	166764100	246	2,293	SH		DFND		2,293	0	0
MICROSOFT CORP	COM	594918104	3,752	56,963	SH		DFND		56,963	0	0
UNITED PARCEL SERVICE INC	CL B	911312106	907	8,451	SH		DFND		8,451	0	0
AT&T INC	COM	00206R102	12,260	295,071	SH		DFND		295,071	0	0
PRUDENTIAL FINL INC	COM	744320102	3,675	34,450	SH		DFND		34,450	0	0
CITIGROUP INC	COM NEW	172967424	7,107	118,809	SH		DFND		118,809	0	0
CA INC	COM	12673P105	3,514	110,792	SH		DFND		110,792	0	0
CISCO SYS INC	COM	17275R102	2,581	76,374	SH		DFND		76,374	0	0
INTERNATIONAL BUSINESS MACHS	COM	459200101	2,728	15,666	SH		DFND		15,666	0	0
PEPSICO INC	COM	713448108	3,453	30,869	SH		DFND		30,869	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	4,259	87,371	SH		DFND		87,371	0	0
WALGREENS BOOTS ALLIANCE INC	COM	931427108	223	2,681	SH		DFND		2,681	0	0
BANK AMER CORP	COM	060505104	7,110	301,404	SH		DFND		301,404	0	0
OMEGA HEALTHCARE INVS INC	COM	681936100	1,480	44,870	SH		DFND		44,870	0	0
OFFICE DEPOT INC	COM	676220106	1,211	259,633	SH		DFND		259,633	0	0
CAMDEN PPTY TR	SH BEN INT	133131102	1,450	18,019	SH		DFND		18,019	0	0
INTL PAPER CO	COM	460146103	1,372	27,014	SH		DFND		27,014	0	0
DTE ENERGY CO	COM	233331107	284	2,785	SH		DFND		2,785	0	0
AMKOR TECHNOLOGY INC	COM	031652100	5,748	495,945	SH		DFND		495,945	0	0
INTERDIGITAL INC	COM	45867G101	3,359	38,924	SH		DFND		38,924	0	0
LANDSTAR SYS INC	COM	515098101	1,369	15,978	SH		DFND		15,978	0	0
RUDOLPH TECHNOLOGIES INC	COM	781270103	869	38,801	SH		DFND		38,801	0	0
CITRIX SYS INC	COM	177376100	3,708	44,464	SH		DFND		44,464	0	0
ZIONS BANCORPORATION	COM	989701107	3,912	93,151	SH		DFND		93,151	0	0
KATE SPADE & CO	COM	485865109	948	40,821	SH		DFND		40,821	0	0
CONVERGYS CORP	COM	212485106	4,588	216,945	SH		DFND		216,945	0	0
SANMINA CORPORATION	COM	801056102	2,186	53,854	SH		DFND		53,854	0	0
FIRST COMWLTH FINL CORP PA	COM	319829107	674	50,865	SH		DFND		50,865	0	0
F5 NETWORKS INC	COM	315616102	340	2,382	SH		DFND		2,382	0	0
ROYAL CARIBBEAN CRUISES LTD	COM	V7780T103	1,842	18,776	SH		DFND		18,776	0	0
VERISIGN INC	COM	92343e102	335	3,844	SH		DFND		3,844	0	0
AES CORP	COM	00130H105	1,238	110,738	SH		DFND		110,738	0	0
CRACKER BARREL OLD CTRY STOR	COM	22410J106	728	4,572	SH		DFND		4,572	0	0
CIRRUS LOGIC INC	COM	172755100	2,488	40,990	SH		DFND		40,990	0	0
GAMESTOP CORP NEW	CL A	36467W109	734	32,563	SH		DFND		32,563	0	0
OCCIDENTAL PETE CORP DEL	COM	674599105	2,125	33,538	SH		DFND		33,538	0	0
REGIONS FINL CORP NEW	COM	7591EP100	3,683	253,485	SH		DFND		253,485	0	0
UNISYS CORP	COM NEW	909214306	1,751	125,485	SH		DFND		125,485	0	0
AMEREN CORP	COM	023608102	2,015	36,904	SH		DFND		36,904	0	0
ARCHER DANIELS MIDLAND CO	COM	039483102	1,280	27,810	SH		DFND		27,810	0	0
CENTERPOINT ENERGY INC	COM	15189T107	2,832	102,725	SH		DFND		102,725	0	0
HAWAIIAN ELEC INDUSTRIES	COM	419870100	4,449	133,556	SH		DFND		133,556	0	0
EXPRESS SCRIPTS HLDG CO	COM	30219G108	2,453	37,223	SH		DFND		37,223	0	0
E TRADE FINANCIAL CORP	COM NEW	269246401	3,087	88,480	SH		DFND		88,480	0	0
HOLLYFRONTIER CORP	COM	436106108	2,645	93,333	SH		DFND		93,333	0	0
INVESCO LTD	SHS	G491BT108	1,569	51,232	SH		DFND		51,232	0	0
PROGRESS SOFTWARE CORP	COM	743312100	1,355	46,628	SH		DFND		46,628	0	0
MASTERCARD INCORPORATED	CL A	57636Q104	3,336	29,664	SH		DFND		29,664	0	0
PAREXEL INTL CORP	COM	699462107	4,301	68,154	SH		DFND		68,154	0	0
AARONS INC	COM PAR $0.50	002535300	1,773	59,623	SH		DFND		59,623	0	0
WORLD ACCEP CORP DEL	COM	981419104	450	8,690	SH		DFND		8,690	0	0
KIMBALL INTL INC	CL B	494274103	1,627	98,616	SH		DFND		98,616	0	0
CORCEPT THERAPEUTICS INC	COM	218352102	1,521	138,800	SH		DFND		138,800	0	0
WESTERN REFNG INC	COM	959319104	1,475	42,061	SH		DFND		42,061	0	0
WYNDHAM WORLDWIDE CORP	COM	98310W108	3,092	36,681	SH		DFND		36,681	0	0
SOTHEBYS	COM	835898107	1,288	28,320	SH		DFND		28,320	0	0
ASSURED GUARANTY LTD	COM	G0585R106	796	21,459	SH		DFND		21,459	0	0
COPA HOLDINGS SA	CL A	P31076105	3,482	31,019	SH		DFND		31,019	0	0
DARLING INGREDIENTS INC	COM	237266101	5,205	358,456	SH		DFND		358,456	0	0
DIAMONDROCK HOSPITALITY CO	COM	252784301	2,975	266,818	SH		DFND		266,818	0	0
ESTERLINE TECHNOLOGIES CORP	COM	297425100	534	6,208	SH		DFND		6,208	0	0
GREENHILL & CO INC	COM	395259104	875	29,872	SH		DFND		29,872	0	0
REGAL ENTMT GROUP	CL A	758766109	2,199	97,379	SH		DFND		97,379	0	0
SUNSTONE HOTEL INVS INC NEW	COM	867892101	4,313	281,346	SH		DFND		281,346	0	0
THOMSON REUTERS CORP	COM	884903105	1,333	30,831	SH		DFND		30,831	0	0
PROASSURANCE CORP	COM	74267C106	633	10,504	SH		DFND		10,504	0	0
SIGNET JEWELERS LIMITED	SHS	G81276100	1,011	14,598	SH		DFND		14,598	0	0
AVIS BUDGET GROUP	COM	053774105	1,060	35,830	SH		DFND		35,830	0	0
ARGAN INC	COM	04010e109	1,601	24,205	SH		DFND		24,205	0	0
BUILDERS FIRSTSOURCE INC	COM	12008R107	724	48,588	SH		DFND		48,588	0	0
CATHAY GEN BANCORP	COM	149150104	2,581	68,505	SH		DFND		68,505	0	0
WESTERN UN CO	COM	959802109	1,662	81,687	SH		DFND		81,687	0	0
HERSHA HOSPITALITY TR	PR SHS BEN INT	427825500	885	47,125	SH		DFND		47,125	0	0
POWER INTEGRATIONS INC	COM	739276103	1,919	29,193	SH		DFND		29,193	0	0
WOODWARD INC	COM	980745103	2,052	30,215	SH		DFND		30,215	0	0
WEB COM GROUP INC	COM	94733A104	1,289	66,812	SH		DFND		66,812	0	0
DISCOVER FINL SVCS	COM	254709108	371	5,418	SH		DFND		5,418	0	0
AECOM	COM	00766T100	1,487	41,781	SH		DFND		41,781	0	0
VMWARE INC	CL A COM	928563402	2,132	23,139	SH		DFND		23,139	0	0
ESSENDANT INC	COM	296689102	1,101	72,675	SH		DFND		72,675	0	0
TERADATA CORP DEL	COM	88076W103	5,326	171,131	SH		DFND		171,131	0	0
ARCHROCK INC	COM	03957W106	1,346	108,561	SH		DFND		108,561	0	0
CHART INDS INC	COM PAR $0.01	16115Q308	1,608	46,025	SH		DFND		46,025	0	0
TRANSOCEAN LTD	REG SHS	H8817H100	2,635	211,611	SH		DFND		211,611	0	0
CALPINE CORP	COM NEW	131347304	2,255	204,086	SH		DFND		204,086	0	0
GENOMIC HEALTH INC	COM	37244C101	1,251	39,735	SH		DFND		39,735	0	0
MASIMO CORP	COM	574795100	1,650	17,688	SH		DFND		17,688	0	0
PENSKE AUTOMOTIVE GRP INC	COM	70959W103	1,253	26,760	SH		DFND		26,760	0	0
SPARTANNASH CO	COM	847215100	560	16,012	SH		DFND		16,012	0	0
FORESTAR GROUP INC	COM	346233109	810	59,315	SH		DFND		59,315	0	0
DANA INCORPORATED	COM	235825205	3,324	172,118	SH		DFND		172,118	0	0
FIRST MERCHANTS CORP	COM	320817109	671	17,062	SH		DFND		17,062	0	0
VALIDUS HOLDINGS LTD	COM SHS	G9319H102	563	9,983	SH		DFND		9,983	0	0
HAWAIIAN HOLDINGS INC	COM	419879101	1,172	25,227	SH		DFND		25,227	0	0
RUSH ENTERPRISES INC	CL A	781846209	1,103	33,334	SH		DFND		33,334	0	0
MAIDEN HOLDINGS LTD	SHS	G5753U112	447	31,919	SH		DFND		31,919	0	0
AGNC INVT CORP	COM	00123Q104	2,659	133,704	SH		DFND		133,704	0	0
CARDTRONICS PLC	SHS CL A	G1991C105	5,169	110,568	SH		DFND		110,568	0	0
COMMVAULT SYSTEMS INC	COM	204166102	5,177	101,912	SH		DFND		101,912	0	0
SCRIPPS NETWORKS INTERACT IN	CL A COM	811065101	2,974	37,947	SH		DFND		37,947	0	0
PACWEST BANCORP DEL	COM	695263103	1,843	34,601	SH		DFND		34,601	0	0
AMAG PHARMACEUTICALS INC	COM	00163U106	1,132	50,182	SH		DFND		50,182	0	0
MYR GROUP INC DEL	COM	55405W104	404	9,862	SH		DFND		9,862	0	0
EXXON MOBIL CORP	COM	30231G102	2,664	32,483	SH		DFND		32,483	0	0
WAL-MART STORES INC	COM	931142103	6,931	96,163	SH		DFND		96,163	0	0
APPLIED MATLS INC	COM	038222105	2,841	73,036	SH		DFND		73,036	0	0
TTM TECHNOLOGIES INC	COM	87305R109	4,068	252,218	SH		DFND		252,218	0	0
BRADY CORP	CL A	104674106	789	20,411	SH		DFND		20,411	0	0
CARDINAL HEALTH INC	COM	14149Y108	2,713	33,265	SH		DFND		33,265	0	0
TARGET CORP	COM	87612e106	3,688	66,826	SH		DFND		66,826	0	0
CAPITAL ONE FINL CORP	COM	14040H105	5,146	59,376	SH		DFND		59,376	0	0
KOHLS CORP	COM	500255104	1,865	46,849	SH		DFND		46,849	0	0
CVS HEALTH CORP	COM	126650100	2,180	27,770	SH		DFND		27,770	0	0
MCKESSON CORP	COM	58155Q103	2,749	18,540	SH		DFND		18,540	0	0
MILLER HERMAN INC	COM	600544100	519	16,445	SH		DFND		16,445	0	0
MERCK & CO INC	COM	58933Y105	277	4,367	SH		DFND		4,367	0	0
MICRON TECHNOLOGY INC	COM	595112103	1,007	34,850	SH		DFND		34,850	0	0
MORGAN STANLEY	COM NEW	617446448	6,480	151,259	SH		DFND		151,259	0	0
NABORS INDUSTRIES LTD	SHS	G6359F103	1,907	145,908	SH		DFND		145,908	0	0
ENTERGY CORP NEW	COM	29364G103	2,683	35,320	SH		DFND		35,320	0	0
FIFTH THIRD BANCORP	COM	316773100	3,822	150,490	SH		DFND		150,490	0	0
FLOWERS FOODS INC	COM	343498101	1,591	81,943	SH		DFND		81,943	0	0
RADIAN GROUP INC	COM	750236101	1,334	74,288	SH		DFND		74,288	0	0
PROCTER AND GAMBLE CO	COM	742718109	2,188	24,353	SH		DFND		24,353	0	0
GENERAL ELECTRIC CO	COM	369604103	2,858	95,916	SH		DFND		95,916	0	0
KIMBERLY CLARK CORP	COM	494368103	1,289	9,793	SH		DFND		9,793	0	0
GILEAD SCIENCES INC	COM	375558103	6,796	100,056	SH		DFND		100,056	0	0
GOLDMAN SACHS GROUP INC	COM	38141G104	1,805	7,857	SH		DFND		7,857	0	0
HOME DEPOT INC	COM	437076102	3,458	23,548	SH		DFND		23,548	0	0
INGERSOLL-RAND PLC	SHS	G47791101	3,013	37,049	SH		DFND		37,049	0	0
JABIL CIRCUIT INC	COM	466313103	4,596	158,914	SH		DFND		158,914	0	0
JPMORGAN CHASE & CO	COM	46625H100	10,596	120,632	SH		DFND		120,632	0	0
TIMKEN CO	COM	887389104	1,748	38,675	SH		DFND		38,675	0	0
LOUISIANA PAC CORP	COM	546347105	2,994	120,631	SH		DFND		120,631	0	0
CAREER EDUCATION CORP	COM	141665109	631	72,487	SH		DFND		72,487	0	0
MERITOR INC	COM	59001K100	1,668	97,371	SH		DFND		97,371	0	0
NVIDIA CORP	COM	67066G104	1,509	13,852	SH		DFND		13,852	0	0
SEMTECH CORP	COM	816850101	863	25,547	SH		DFND		25,547	0	0
SANDERSON FARMS INC	COM	800013104	3,487	33,576	SH		DFND		33,576	0	0
EATON CORP PLC	SHS	G29183103	1,896	25,575	SH		DFND		25,575	0	0
TESORO CORP	COM	881609101	2,937	36,228	SH		DFND		36,228	0	0
KB HOME	COM	48666K109	624	31,407	SH		DFND		31,407	0	0
UNITED RENTALS INC	COM	911363109	2,497	19,968	SH		DFND		19,968	0	0
ROWAN COMPANIES PLC	SHS CL A	G7665A101	3,966	254,570	SH		DFND		254,570	0	0
ASSOCIATED BANC CORP	COM	045487105	3,608	147,859	SH		DFND		147,859	0	0
DONALDSON INC	COM	257651109	974	21,398	SH		DFND		21,398	0	0
JACOBS ENGR GROUP INC DEL	COM	469814107	1,203	21,757	SH		DFND		21,757	0	0
PENN NATL GAMING INC	COM	707569109	1,682	91,280	SH		DFND		91,280	0	0
FIRST INDUSTRIAL REALTY TRUS	COM	32054K103	1,455	54,624	SH		DFND		54,624	0	0
ARCBEST CORP	COM	03937C105	209	8,020	SH		DFND		8,020	0	0
LINCOLN NATL CORP IND	COM	534187109	1,737	26,541	SH		DFND		26,541	0	0
OWENS & MINOR INC NEW	COM	690732102	2,740	79,185	SH		DFND		79,185	0	0
STEEL DYNAMICS INC	COM	858119100	1,619	46,587	SH		DFND		46,587	0	0
CUMMINS INC	COM	231021106	1,549	10,247	SH		DFND		10,247	0	0
METLIFE INC	COM	59156R108	1,898	35,942	SH		DFND		35,942	0	0
MCDERMOTT INTL INC	COM	580037109	4,056	600,856	SH		DFND		600,856	0	0
ENDO INTL PLC	SHS	G30401106	735	65,870	SH		DFND		65,870	0	0
UNIT CORP	COM	909218109	490	20,283	SH		DFND		20,283	0	0
TOLL BROTHERS INC	COM	889478103	1,195	33,099	SH		DFND		33,099	0	0
AETNA INC NEW	COM	00817Y108	2,709	21,240	SH		DFND		21,240	0	0
BRUNSWICK CORP	COM	117043109	643	10,500	SH		DFND		10,500	0	0
PBF ENERGY INC	CL A	69318G106	2,841	128,163	SH		DFND		128,163	0	0
ABBVIE INC	COM	00287Y109	7,623	116,985	SH		DFND		116,985	0	0
VIRTUS INVT PARTNERS INC	COM	92828Q109	689	6,506	SH		DFND		6,506	0	0
VWR CORP	COM	91843L103	1,796	63,700	SH		DFND		63,700	0	0
TAYLOR MORRISON HOME CORP	CL A	87724P106	1,352	63,404	SH		DFND		63,404	0	0
T MOBILE US INC	COM	872590104	1,096	16,962	SH		DFND		16,962	0	0
PLY GEM HLDGS INC	COM	72941W100	867	44,000	SH		DFND		44,000	0	0
SPRINT CORP	COM SER 1	85207U105	125	14,418	SH		DFND		14,418	0	0
SCIENCE APPLICATNS INTL CP N	COM	808625107	2,501	33,611	SH		DFND		33,611	0	0
ESSENT GROUP LTD	COM	G3198U102	4,047	111,894	SH		DFND		111,894	0	0
EAGLE PHARMACEUTICALS INC	COM	269796108	579	6,982	SH		DFND		6,982	0	0
ALPHABET INC	CAP STK CL C	02079K107	4,029	4,857	SH		DFND		4,857	0	0
PHIBRO ANIMAL HEALTH CORP	CL A COM	71742Q106	476	16,937	SH		DFND		16,937	0	0
TRINSEO S A	SHS	L9340P101	2,107	31,408	SH		DFND		31,408	0	0
RAYONIER ADVANCED MATLS INC	COM	75508B104	1,239	92,128	SH		DFND		92,128	0	0
CITIZENS FINL GROUP INC	COM	174610105	1,271	36,778	SH		DFND		36,778	0	0
TRAVELPORT WORLDWIDE LTD	SHS	G9019D104	3,255	276,576	SH		DFND		276,576	0	0
DAVE & BUSTERS ENTMT INC	COM	238337109	693	11,336	SH		DFND		11,336	0	0
HALYARD HEALTH INC	COM	40650V100	3,694	96,989	SH		DFND		96,989	0	0
CALIFORNIA RES CORP	COM NEW	13057Q206	311	20,702	SH		DFND		20,702	0	0
INFRAREIT INC	COM	45685L100	857	47,600	SH		DFND		47,600	0	0
XENIA HOTELS & RESORTS INC	COM	984017103	695	40,688	SH		DFND		40,688	0	0
PRINCIPAL FINL GROUP INC	COM	74251V102	1,541	24,416	SH		DFND		24,416	0	0
TENET HEALTHCARE CORP	COM NEW	88033G407	681	38,449	SH		DFND		38,449	0	0
VISHAY INTERTECHNOLOGY INC	COM	928298108	3,952	240,218	SH		DFND		240,218	0	0
BANKRATE INC DEL	COM	06647F102	711	73,677	SH		DFND		73,677	0	0
FIRST BANCORP P R	COM NEW	318672706	1,662	294,183	SH		DFND		294,183	0	0
TWENTY FIRST CENTY FOX INC	CL A	90130A101	2,367	73,079	SH		DFND		73,079	0	0
EVEREST RE GROUP LTD	COM	G3223R108	1,450	6,200	SH		DFND		6,200	0	0
BUNGE LIMITED	COM	G16962105	1,843	23,255	SH		DFND		23,255	0	0
VALERO ENERGY CORP NEW	COM	91913Y100	5,963	89,960	SH		DFND		89,960	0	0
TORO CO	COM	891092108	336	5,380	SH		DFND		5,380	0	0
RENT A CTR INC NEW	COM	76009N100	516	58,185	SH		DFND		58,185	0	0
EQUITY COMWLTH	COM SH BEN INT	294628102	1,273	40,764	SH		DFND		40,764	0	0
CNO FINL GROUP INC	COM	12621E103	3,273	159,660	SH		DFND		159,660	0	0
LKQ CORP	COM	501889208	1,218	41,614	SH		DFND		41,614	0	0
PIPER JAFFRAY COS	COM	724078100	1,160	18,166	SH		DFND		18,166	0	0
CARNIVAL CORP	UNIT 99/99/9999	143658300	2,550	43,283	SH		DFND		43,283	0	0
LEXINGTON REALTY TRUST	COM	529043101	289	28,982	SH		DFND		28,982	0	0
RAMCO-GERSHENSON PPTYS TR	COM SH BEN INT	751452202	1,307	93,244	SH		DFND		93,244	0	0
MUELLER INDS INC	COM	624756102	1,540	44,985	SH		DFND		44,985	0	0
NORDSON CORP	COM	655663102	329	2,680	SH		DFND		2,680	0	0
TYSON FOODS INC	CL A	902494103	3,838	62,192	SH		DFND		62,192	0	0
CHICAGO BRIDGE & IRON CO N V	COM	167250109	1,380	44,886	SH		DFND		44,886	0	0
COMMUNITY HEALTH SYS INC NEW	COM	203668108	1,553	175,108	SH		DFND		175,108	0	0
NAVIGANT CONSULTING INC	COM	63935N107	1,626	71,120	SH		DFND		71,120	0	0
CARDIOVASCULAR SYS INC DEL	COM	141619106	1,592	56,303	SH		DFND		56,303	0	0
ANGIODYNAMICS INC	COM	03475V101	1,407	81,070	SH		DFND		81,070	0	0
DAVITA INC	COM	23918K108	346	5,095	SH		DFND		5,095	0	0
ALPHABET INC	CAP STK CL A	02079K305	4,166	4,914	SH		DFND		4,914	0	0
WELLCARE HEALTH PLANS INC	COM	94946T106	2,435	17,366	SH		DFND		17,366	0	0
MERCURY GENL CORP NEW	COM	589400100	205	3,366	SH		DFND		3,366	0	0
DEAN FOODS CO NEW	COM NEW	242370203	5,037	256,208	SH		DFND		256,208	0	0
DOMINOS PIZZA INC	COM	25754A201	756	4,101	SH		DFND		4,101	0	0
AK STL HLDG CORP	COM	001547108	3,172	441,111	SH		DFND		441,111	0	0
NU SKIN ENTERPRISES INC	CL A	67018T105	3,750	67,513	SH		DFND		67,513	0	0
MYRIAD GENETICS INC	COM	62855J104	1,509	78,578	SH		DFND		78,578	0	0
MANPOWERGROUP INC	COM	56418H100	1,159	11,297	SH		DFND		11,297	0	0
DISCOVERY COMMUNICATNS NEW	COM SER A	25470F104	2,933	100,836	SH		DFND		100,836	0	0
GARMIN LTD	SHS	H2906T109	659	12,889	SH		DFND		12,889	0	0
OSHKOSH CORP	COM	688239201	1,671	24,369	SH		DFND		24,369	0	0
AMERIPRISE FINL INC	COM	03076C106	1,515	11,681	SH		DFND		11,681	0	0
SOUTHWEST GAS HOLDINGS INC	COM	844895102	5,091	61,398	SH		DFND		61,398	0	0
CLIFFS NAT RES INC	COM	18683K101	1,516	184,710	SH		DFND		184,710	0	0
BIG LOTS INC	COM	089302103	918	18,867	SH		DFND		18,867	0	0
WOLVERINE WORLD WIDE INC	COM	978097103	1,774	71,049	SH		DFND		71,049	0	0
MACQUARIE INFRASTRUCTURE COR	COM	55608B105	748	9,279	SH		DFND		9,279	0	0
SKYWEST INC	COM	830879102	860	25,109	SH		DFND		25,109	0	0
GROUP 1 AUTOMOTIVE INC	COM	398905109	2,326	31,393	SH		DFND		31,393	0	0
SONIC AUTOMOTIVE INC	CL A	83545G102	1,170	58,346	SH		DFND		58,346	0	0
GENERAL COMMUNICATION INC	CL A	369385109	811	39,006	SH		DFND		39,006	0	0
STEWART INFORMATION SVCS COR	COM	860372101	268	6,069	SH		DFND		6,069	0	0
PARKER HANNIFIN CORP	COM	701094104	3,685	22,984	SH		DFND		22,984	0	0
WABASH NATL CORP	COM	929566107	1,785	86,254	SH		DFND		86,254	0	0
BELDEN INC	COM	077454106	2,223	32,135	SH		DFND		32,135	0	0
CHILDRENS PL INC	COM	168905107	2,319	19,320	SH		DFND		19,320	0	0
ON ASSIGNMENT INC	COM	682159108	1,066	21,956	SH		DFND		21,956	0	0
KELLY SVCS INC	CL A	488152208	1,760	80,530	SH		DFND		80,530	0	0
FTI CONSULTING INC	COM	302941109	547	13,282	SH		DFND		13,282	0	0
BOSTON PRIVATE FINL HLDGS IN	COM	101119105	1,625	99,060	SH		DFND		99,060	0	0
UNIVERSAL FST PRODS INC	COM	913543104	890	9,035	SH		DFND		9,035	0	0
CBL & ASSOC PPTYS INC	COM	124830100	936	98,086	SH		DFND		98,086	0	0
HUNTSMAN CORP	COM	447011107	3,902	158,998	SH		DFND		158,998	0	0
WEBSTER FINL CORP CONN	COM	947890109	1,093	21,849	SH		DFND		21,849	0	0
EMCOR GROUP INC	COM	29084Q100	1,290	20,494	SH		DFND		20,494	0	0
UNITED CONTL HLDGS INC	COM	910047109	2,387	33,786	SH		DFND		33,786	0	0
EXELIXIS INC	COM	30161Q104	2,023	93,352	SH		DFND		93,352	0	0
KOPPERS HOLDINGS INC	COM	50060P106	833	19,670	SH		DFND		19,670	0	0
LASALLE HOTEL PPTYS	COM SH BEN INT	517942108	4,752	164,133	SH		DFND		164,133	0	0
MAXIMUS INC	COM	577933104	882	14,178	SH		DFND		14,178	0	0
EAST WEST BANCORP INC	COM	27579R104	3,600	69,757	SH		DFND		69,757	0	0
MASTEC INC	COM	576323109	2,918	72,866	SH		DFND		72,866	0	0
INTERNATIONAL SPEEDWAY CORP	CL A	460335201	1,532	41,456	SH		DFND		41,456	0	0
MOOG INC	CL A	615394202	2,074	30,794	SH		DFND		30,794	0	0
ATWOOD OCEANICS INC	COM	050095108	551	57,794	SH		DFND		57,794	0	0
INTEGER HLDGS CORP	COM	45826H109	387	9,628	SH		DFND		9,628	0	0
UNITED THERAPEUTICS CORP DEL	COM	91307C102	2,421	17,886	SH		DFND		17,886	0	0
COGENT COMMUNICATIONS HLDGS	COM NEW	19239V302	604	14,019	SH		DFND		14,019	0	0
IROBOT CORP	COM	462726100	2,877	43,502	SH		DFND		43,502	0	0
INNOVIVA INC	COM	45781M101	1,714	123,926	SH		DFND		123,926	0	0
INSPERITY INC	COM	45778Q107	311	3,510	SH		DFND		3,510	0	0
CNA FINL CORP	COM	126117100	327	7,408	SH		DFND		7,408	0	0
INTERNATIONAL GAME TECHNOLOG	SHS USD	G4863A108	1,454	61,346	SH		DFND		61,346	0	0
CHEMOURS CO	COM	163851108	2,012	52,255	SH		DFND		52,255	0	0
EXTERRAN CORP	COM	30227H106	596	18,955	SH		DFND		18,955	0	0
HOULIHAN LOKEY INC	CL A	441593100	725	21,040	SH		DFND		21,040	0	0
HEWLETT PACKARD ENTERPRISE C	COM	42824C109	2,908	122,716	SH		DFND		122,716	0	0
MATCH GROUP INC	COM	57665R106	898	55,020	SH		DFND		55,020	0	0
LIBERTY MEDIA CORP DELAWARE	COM A SIRIUSXM	531229409	2,434	62,528	SH		DFND		62,528	0	0
ATKORE INTL GROUP INC	COM	047649108	3,249	123,615	SH		DFND		123,615	0	0
MEDPACE HLDGS INC	COM	58506Q109	663	22,224	SH		DFND		22,224	0	0