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
VISA INC	COM CL A	92826C839	287	2,732	SH		DFND		2,732	0	0
CVR ENERGY INC	COM	12662P108	2,236	86,316	SH		DFND		86,316	0	0
PHILIP MORRIS INTL INC	COM	718172109	206	1,854	SH		DFND		1,854	0	0
DANA INCORPORATED	COM	235825205	3,457	123,654	SH		DFND		123,654	0	0
SPARTANNASH CO	COM	847215100	537	20,383	SH		DFND		20,383	0	0
TRUEBLUE INC	COM	89785X101	1,465	65,272	SH		DFND		65,272	0	0
MASIMO CORP	COM	574795100	4,359	50,356	SH		DFND		50,356	0	0
GENOMIC HEALTH INC	COM	37244C101	1,142	35,598	SH		DFND		35,598	0	0
TRANSOCEAN LTD	REG SHS	H8817H100	1,111	103,255	SH		DFND		103,255	0	0
CAI INTERNATIONAL INC	COM	12477X106	1,371	45,230	SH		DFND		45,230	0	0
TERADATA CORP DEL	COM	88076W103	5,353	158,431	SH		DFND		158,431	0	0
VMWARE INC	CL A COM	928563402	2,295	21,019	SH		DFND		21,019	0	0
AECOM	COM	00766T100	1,360	36,938	SH		DFND		36,938	0	0
PS BUSINESS PKS INC CALIF	COM	69360J107	3,118	23,354	SH		DFND		23,354	0	0
EMERGENT BIOSOLUTIONS INC	COM	29089Q105	2,066	51,066	SH		DFND		51,066	0	0
HERSHA HOSPITALITY TR	PR SHS BEN INT	427825500	1,668	89,360	SH		DFND		89,360	0	0
LHC GROUP INC	COM	50187A107	1,638	23,090	SH		DFND		23,090	0	0
SP PLUS CORP	COM	78469C103	1,436	36,344	SH		DFND		36,344	0	0
BUILDERS FIRSTSOURCE INC	COM	12008R107	1,879	104,443	SH		DFND		104,443	0	0
BANNER CORP	COM NEW	06652V208	1,132	18,470	SH		DFND		18,470	0	0
ACORDA THERAPEUTICS INC	COM	00484M106	1,294	54,720	SH		DFND		54,720	0	0
ULTRA CLEAN HLDGS INC	COM	90385V107	2,362	77,154	SH		DFND		77,154	0	0
STIFEL FINL CORP	COM	860630102	4,273	79,933	SH		DFND		79,933	0	0
REGAL ENTMT GROUP	CL A	758766109	955	59,664	SH		DFND		59,664	0	0
DIGITAL RLTY TR INC	COM	253868103	425	3,595	SH		DFND		3,595	0	0
COPA HOLDINGS SA	CL A	P31076105	5,172	41,536	SH		DFND		41,536	0	0
ASSURED GUARANTY LTD	COM	G0585R106	378	10,019	SH		DFND		10,019	0	0
AMERICAN EQTY INVT LIFE HLD	COM	025676206	2,784	95,741	SH		DFND		95,741	0	0
ALAMO GROUP INC	COM	011311107	1,519	14,145	SH		DFND		14,145	0	0
WYNDHAM WORLDWIDE CORP	COM	98310W108	1,622	15,386	SH		DFND		15,386	0	0
CORCEPT THERAPEUTICS INC	COM	218352102	2,308	119,602	SH		DFND		119,602	0	0
DOLBY LABORATORIES INC	COM	25659T107	1,824	31,703	SH		DFND		31,703	0	0
INVESCO LTD	SHS	G491BT108	1,325	37,804	SH		DFND		37,804	0	0
GRAY TELEVISION INC	COM	389375106	1,098	69,964	SH		DFND		69,964	0	0
INNOVIVA INC	COM	45781M101	1,735	122,861	SH		DFND		122,861	0	0
IROBOT CORP	COM	462726100	450	5,845	SH		DFND		5,845	0	0
COGENT COMMUNICATIONS HLDGS	COM NEW	19239V302	3,715	75,969	SH		DFND		75,969	0	0
INTEGER HLDGS CORP	COM	45826H109	1,608	31,445	SH		DFND		31,445	0	0
MOOG INC	CL A	615394202	1,441	17,266	SH		DFND		17,266	0	0
MASTEC INC	COM	576323109	3,196	68,878	SH		DFND		68,878	0	0
NIC INC	COM	62914B100	1,684	98,166	SH		DFND		98,166	0	0
EAST WEST BANCORP INC	COM	27579R104	2,075	34,707	SH		DFND		34,707	0	0
MAXIMUS INC	COM	577933104	2,104	32,621	SH		DFND		32,621	0	0
LASALLE HOTEL PPTYS	COM SH BEN INT	517942108	4,474	154,173	SH		DFND		154,173	0	0
FORWARD AIR CORP	COM	349853101	786	13,742	SH		DFND		13,742	0	0
BRINKS CO	COM	109696104	848	10,070	SH		DFND		10,070	0	0
UNITED CONTL HLDGS INC	COM	910047109	1,453	23,874	SH		DFND		23,874	0	0
TEREX CORP NEW	COM	880779103	775	17,204	SH		DFND		17,204	0	0
NUTRI SYS INC NEW	COM	67069D108	444	7,936	SH		DFND		7,936	0	0
HUNTSMAN CORP	COM	447011107	1,617	58,988	SH		DFND		58,988	0	0
POTLATCH CORP NEW	COM	737630103	1,343	26,341	SH		DFND		26,341	0	0
LIGAND PHARMACEUTICALS INC	COM NEW	53220K504	1,838	13,502	SH		DFND		13,502	0	0
VIACOM INC NEW	CL B	92553P201	2,826	101,504	SH		DFND		101,504	0	0
CONNS INC	COM	208242107	742	26,345	SH		DFND		26,345	0	0
KELLY SVCS INC	CL A	488152208	1,689	67,301	SH		DFND		67,301	0	0
BOSTON BEER INC	CL A	100557107	1,547	9,901	SH		DFND		9,901	0	0
CENTENE CORP DEL	COM	15135B101	533	5,505	SH		DFND		5,505	0	0
WABASH NATL CORP	COM	929566107	1,361	59,658	SH		DFND		59,658	0	0
UNITED STATES CELLULAR CORP	COM	911684108	732	20,685	SH		DFND		20,685	0	0
TORCHMARK CORP	COM	891027104	2,088	26,066	SH		DFND		26,066	0	0
CLEVELAND CLIFFS INC	COM	185899101	1,350	188,852	SH		DFND		188,852	0	0
AMERIPRISE FINL INC	COM	03076C106	1,802	12,133	SH		DFND		12,133	0	0
OSHKOSH CORP	COM	688239201	1,374	16,641	SH		DFND		16,641	0	0
WORLD FUEL SVCS CORP	COM	981475106	1,408	41,511	SH		DFND		41,511	0	0
MANPOWERGROUP INC	COM	56418H100	1,272	10,793	SH		DFND		10,793	0	0
PILGRIMS PRIDE CORP NEW	COM	72147K108	406	14,300	SH		DFND		14,300	0	0
SCIENTIFIC GAMES CORP	CL A	80874P109	753	16,430	SH		DFND		16,430	0	0
NATIONAL FUEL GAS CO N J	COM	636180101	3,286	58,043	SH		DFND		58,043	0	0
LAS VEGAS SANDS CORP	COM	517834107	1,965	30,629	SH		DFND		30,629	0	0
NU SKIN ENTERPRISES INC	CL A	67018T105	4,033	65,602	SH		DFND		65,602	0	0
QUALITY SYS INC	COM	747582104	1,484	94,317	SH		DFND		94,317	0	0
ASPEN TECHNOLOGY INC	COM	045327103	5,541	88,218	SH		DFND		88,218	0	0
WELLCARE HEALTH PLANS INC	COM	94946T106	2,464	14,350	SH		DFND		14,350	0	0
ALPHABET INC	CAP STK CL A	02079K305	601	617	SH		DFND		617	0	0
DAVITA INC	COM	23918K108	1,912	32,201	SH		DFND		32,201	0	0
ANGIODYNAMICS INC	COM	03475V101	1,554	90,909	SH		DFND		90,909	0	0
HAEMONETICS CORP	COM	405024100	1,585	35,330	SH		DFND		35,330	0	0
TYSON FOODS INC	CL A	902494103	3,311	46,997	SH		DFND		46,997	0	0
MDU RES GROUP INC	COM	552690109	1,600	61,665	SH		DFND		61,665	0	0
BRUNSWICK CORP	COM	117043109	1,352	24,152	SH		DFND		24,152	0	0
XPO LOGISTICS INC	COM	983793100	2,443	36,050	SH		DFND		36,050	0	0
ANIXTER INTL INC	COM	035290105	1,457	17,138	SH		DFND		17,138	0	0
SS&C TECHNOLOGIES HLDGS INC	COM	78467J100	417	10,376	SH		DFND		10,376	0	0
ALLIANCE DATA SYSTEMS CORP	COM	018581108	3,554	16,042	SH		DFND		16,042	0	0
TOLL BROTHERS INC	COM	889478103	1,002	24,165	SH		DFND		24,165	0	0
SCHNITZER STL INDS	CL A	806882106	807	28,680	SH		DFND		28,680	0	0
METLIFE INC	COM	59156R108	1,835	35,313	SH		DFND		35,313	0	0
GRACO INC	COM	384109104	921	7,446	SH		DFND		7,446	0	0
CUMMINS INC	COM	231021106	1,772	10,543	SH		DFND		10,543	0	0
PULTE GROUP INC	COM	745867101	898	32,862	SH		DFND		32,862	0	0
OWENS & MINOR INC NEW	COM	690732102	936	32,045	SH		DFND		32,045	0	0
M D C HLDGS INC	COM	552676108	2,385	71,812	SH		DFND		71,812	0	0
LINCOLN NATL CORP IND	COM	534187109	1,675	22,792	SH		DFND		22,792	0	0
ARCBEST CORP	COM	03937C105	568	16,980	SH		DFND		16,980	0	0
SCANSOURCE INC	COM	806037107	1,759	40,300	SH		DFND		40,300	0	0
HUMANA INC	COM	444859102	2,934	12,041	SH		DFND		12,041	0	0
FIRST INDUSTRIAL REALTY TRUS	COM	32054K103	1,888	62,759	SH		DFND		62,759	0	0
HARSCO CORP	COM	415864107	2,716	129,959	SH		DFND		129,959	0	0
KRONOS WORLDWIDE INC	COM	50105F105	458	20,070	SH		DFND		20,070	0	0
PENN NATL GAMING INC	COM	707569109	3,226	137,907	SH		DFND		137,907	0	0
MYERS INDS INC	COM	628464109	499	23,800	SH		DFND		23,800	0	0
LEGG MASON INC	COM	524901105	7,102	180,663	SH		DFND		180,663	0	0
LAUDER ESTEE COS INC	CL A	518439104	2,382	22,089	SH		DFND		22,089	0	0
COMERICA INC	COM	200340107	2,292	30,056	SH		DFND		30,056	0	0
SOUTHWESTERN ENERGY CO	COM	845467109	843	137,981	SH		DFND		137,981	0	0
ROWAN COMPANIES PLC	SHS CL A	G7665A101	529	41,168	SH		DFND		41,168	0	0
KB HOME	COM	48666K109	2,458	101,888	SH		DFND		101,888	0	0
ANDEAVOR	COM	03349M105	1,947	18,871	SH		DFND		18,871	0	0
EATON CORP PLC	SHS	G29183103	2,022	26,333	SH		DFND		26,333	0	0
SANDERSON FARMS INC	COM	800013104	5,793	35,868	SH		DFND		35,868	0	0
FREEPORT-MCMORAN INC	CL B	35671D857	2,083	148,393	SH		DFND		148,393	0	0
VERTEX PHARMACEUTICALS INC	COM	92532F100	2,122	13,956	SH		DFND		13,956	0	0
NVR INC	COM	62944T105	1,250	438	SH		DFND		438	0	0
MERITOR INC	COM	59001K100	3,140	120,731	SH		DFND		120,731	0	0
LOUISIANA PAC CORP	COM	546347105	4,017	148,323	SH		DFND		148,323	0	0
VARIAN MED SYS INC	COM	92220P105	219	2,190	SH		DFND		2,190	0	0
MUELLER INDS INC	COM	624756102	2,624	75,090	SH		DFND		75,090	0	0
LIFEPOINT HEALTH INC	COM	53219L109	811	14,001	SH		DFND		14,001	0	0
CNO FINL GROUP INC	COM	12621E103	3,974	170,252	SH		DFND		170,252	0	0
POPULAR INC	COM NEW	733174700	1,860	51,759	SH		DFND		51,759	0	0
PROLOGIS INC	COM	74340W103	282	4,451	SH		DFND		4,451	0	0
ARRIS INTL INC	SHS	G0551A103	2,389	83,870	SH		DFND		83,870	0	0
LANNET INC	COM	516012101	494	26,775	SH		DFND		26,775	0	0
PNC FINL SVCS GROUP INC	COM	693475105	566	4,199	SH		DFND		4,199	0	0
PNM RES INC	COM	69349H107	3,785	93,922	SH		DFND		93,922	0	0
RENT A CTR INC NEW	COM	76009N100	596	51,932	SH		DFND		51,932	0	0
VALERO ENERGY CORP NEW	COM	91913Y100	6,807	88,488	SH		DFND		88,488	0	0
BUNGE LIMITED	COM	G16962105	3,693	53,174	SH		DFND		53,174	0	0
ANNALY CAP MGMT INC	COM	035710409	3,239	265,732	SH		DFND		265,732	0	0
DECKERS OUTDOOR CORP	COM	243537107	1,180	17,255	SH		DFND		17,255	0	0
MANHATTAN ASSOCS INC	COM	562750109	1,520	36,556	SH		DFND		36,556	0	0
FIRST BANCORP P R	COM NEW	318672706	429	83,796	SH		DFND		83,796	0	0
VISHAY INTERTECHNOLOGY INC	COM	928298108	3,796	201,913	SH		DFND		201,913	0	0
PRIMORIS SVCS CORP	COM	74164F103	736	25,024	SH		DFND		25,024	0	0
PRINCIPAL FINL GROUP INC	COM	74251V102	1,688	26,228	SH		DFND		26,228	0	0
HOLLYFRONTIER CORP	COM	436106108	4,536	126,119	SH		DFND		126,119	0	0
EXPRESS SCRIPTS HLDG CO	COM	30219G108	3,168	50,024	SH		DFND		50,024	0	0
CENTERPOINT ENERGY INC	COM	15189T107	4,254	145,633	SH		DFND		145,633	0	0
CIT GROUP INC	COM NEW	125581801	2,982	60,805	SH		DFND		60,805	0	0
ARCHER DANIELS MIDLAND CO	COM	039483102	5,649	132,887	SH		DFND		132,887	0	0
REGIONS FINL CORP NEW	COM	7591EP100	2,046	134,330	SH		DFND		134,330	0	0
MURPHY OIL CORP	COM	626717102	1,007	37,900	SH		DFND		37,900	0	0
BLOCK H & R INC	COM	093671105	1,484	56,031	SH		DFND		56,031	0	0
GAMESTOP CORP NEW	CL A	36467W109	4,432	214,540	SH		DFND		214,540	0	0
CIRRUS LOGIC INC	COM	172755100	1,722	32,288	SH		DFND		32,288	0	0
BOISE CASCADE CO DEL	COM	09739D100	1,236	35,402	SH		DFND		35,402	0	0
ROYAL CARIBBEAN CRUISES LTD	COM	V7780T103	1,875	15,814	SH		DFND		15,814	0	0
NETAPP INC	COM	64110D104	3,343	76,398	SH		DFND		76,398	0	0
F5 NETWORKS INC	COM	315616102	2,999	24,879	SH		DFND		24,879	0	0
CONVERGYS CORP	COM	212485106	1,702	65,750	SH		DFND		65,750	0	0
SKYWORKS SOLUTIONS INC	COM	83088M102	2,861	28,078	SH		DFND		28,078	0	0
ON SEMICONDUCTOR CORP	COM	682189105	3,224	174,570	SH		DFND		174,570	0	0
DEVON ENERGY CORP NEW	COM	25179M103	2,380	64,846	SH		DFND		64,846	0	0
ZIONS BANCORPORATION	COM	989701107	4,897	103,789	SH		DFND		103,789	0	0
CITRIX SYS INC	COM	177376100	4,014	52,254	SH		DFND		52,254	0	0
JOHNSON OUTDOORS INC	CL A	479167108	669	9,135	SH		DFND		9,135	0	0
CELGENE CORP	COM	151020104	5,182	35,534	SH		DFND		35,534	0	0
MDC PARTNERS INC	CL A SUB VTG	552697104	460	41,773	SH		DFND		41,773	0	0
APPLIED INDL TECHNOLOGIES IN	COM	03820C105	837	12,722	SH		DFND		12,722	0	0
INTL PAPER CO	COM	460146103	1,469	25,855	SH		DFND		25,855	0	0
OMEGA HEALTHCARE INVS INC	COM	681936100	2,649	83,021	SH		DFND		83,021	0	0
LAM RESEARCH CORP	COM	512807108	3,700	19,993	SH		DFND		19,993	0	0
MIMEDX GROUP INC	COM	602496101	887	74,680	SH		DFND		74,680	0	0
APPLE INC	COM	037833100	7,441	48,279	SH		DFND		48,279	0	0
CONOCOPHILLIPS	COM	20825C104	2,478	49,519	SH		DFND		49,519	0	0
WELLTOWER INC	COM	95040Q104	1,058	15,059	SH		DFND		15,059	0	0
HOST HOTELS & RESORTS INC	COM	44107P104	2,772	149,931	SH		DFND		149,931	0	0
OWENS ILL INC	COM NEW	690768403	3,979	158,148	SH		DFND		158,148	0	0
COMCAST CORP NEW	CL A	20030N101	3,058	79,461	SH		DFND		79,461	0	0
3M CO	COM	88579Y101	213	1,016	SH		DFND		1,016	0	0
FEDERATED INVS INC PA	CL B	314211103	1,638	55,143	SH		DFND		55,143	0	0
UNITED TECHNOLOGIES CORP	COM	913017109	3,640	31,356	SH		DFND		31,356	0	0
TEEKAY CORPORATION	COM	Y8564W103	532	59,523	SH		DFND		59,523	0	0
DIAMOND OFFSHORE DRILLING IN	COM	25271C102	1,159	79,931	SH		DFND		79,931	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	2,349	11,996	SH		DFND		11,996	0	0
WEIGHT WATCHERS INTL INC NEW	COM	948626106	1,499	34,430	SH		DFND		34,430	0	0
FORD MTR CO DEL	COM PAR $0.01	345370860	1,217	101,658	SH		DFND		101,658	0	0
MGIC INVT CORP WIS	COM	552848103	3,836	306,131	SH		DFND		306,131	0	0
ROLLINS INC	COM	775711104	1,159	25,130	SH		DFND		25,130	0	0
WELLS FARGO CO NEW	COM	949746101	2,592	47,004	SH		DFND		47,004	0	0
WILLIAMS COS INC DEL	COM	969457100	1,235	41,159	SH		DFND		41,159	0	0
JPMORGAN CHASE & CO	COM	46625H100	13,164	137,828	SH		DFND		137,828	0	0
MCDONALDS CORP	COM	580135101	75	476	SH		DFND		476	0	0
JABIL INC	COM	466313103	1,182	41,399	SH		DFND		41,399	0	0
INGERSOLL-RAND PLC	SHS	G47791101	737	8,265	SH		DFND		8,265	0	0
HOME DEPOT INC	COM	437076102	5,437	33,242	SH		DFND		33,242	0	0
GILEAD SCIENCES INC	COM	375558103	7,618	94,032	SH		DFND		94,032	0	0
KIMBERLY CLARK CORP	COM	494368103	1,189	10,104	SH		DFND		10,104	0	0
GENERAL ELECTRIC CO	COM	369604103	2,345	96,990	SH		DFND		96,990	0	0
PROCTER AND GAMBLE CO	COM	742718109	1,210	13,304	SH		DFND		13,304	0	0
RADIAN GROUP INC	COM	750236101	2,018	107,978	SH		DFND		107,978	0	0
FLOWERS FOODS INC	COM	343498101	1,568	83,380	SH		DFND		83,380	0	0
FIFTH THIRD BANCORP	COM	316773100	2,527	90,316	SH		DFND		90,316	0	0
ENTERGY CORP NEW	COM	29364G103	1,663	21,778	SH		DFND		21,778	0	0
MORGAN STANLEY	COM NEW	617446448	3,100	64,358	SH		DFND		64,358	0	0
MICRON TECHNOLOGY INC	COM	595112103	580	14,749	SH		DFND		14,749	0	0
MERCK & CO INC	COM	58933Y105	324	5,056	SH		DFND		5,056	0	0
MCKESSON CORP	COM	58155Q103	3,127	20,356	SH		DFND		20,356	0	0
CVS HEALTH CORP	COM	126650100	4,144	50,962	SH		DFND		50,962	0	0
COSTCO WHSL CORP NEW	COM	22160K105	211	1,287	SH		DFND		1,287	0	0
KOHLS CORP	COM	500255104	980	21,468	SH		DFND		21,468	0	0
CAPITAL ONE FINL CORP	COM	14040H105	4,455	52,624	SH		DFND		52,624	0	0
MACK CALI RLTY CORP	COM	554489104	1,239	52,272	SH		DFND		52,272	0	0
TARGET CORP	COM	87612E106	4,919	83,365	SH		DFND		83,365	0	0
CARDINAL HEALTH INC	COM	14149Y108	2,583	38,602	SH		DFND		38,602	0	0
TTM TECHNOLOGIES INC	COM	87305R109	1,735	112,881	SH		DFND		112,881	0	0
UNION PAC CORP	COM	907818108	2,387	20,582	SH		DFND		20,582	0	0
APPLIED MATLS INC	COM	038222105	3,873	74,353	SH		DFND		74,353	0	0
WAL-MART STORES INC	COM	931142103	6,824	87,329	SH		DFND		87,329	0	0
EXXON MOBIL CORP	COM	30231G102	4,246	51,788	SH		DFND		51,788	0	0
BANK AMER CORP	COM	060505104	8,153	321,762	SH		DFND		321,762	0	0
WALGREENS BOOTS ALLIANCE INC	COM	931427108	236	3,062	SH		DFND		3,062	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	4,548	91,902	SH		DFND		91,902	0	0
PEPSICO INC	COM	713448108	314	2,821	SH		DFND		2,821	0	0
COCA COLA CO	COM	191216100	309	6,859	SH		DFND		6,859	0	0
INTERNATIONAL BUSINESS MACHS	COM	459200101	2,325	16,024	SH		DFND		16,024	0	0
TRAVELPORT WORLDWIDE LTD	SHS	G9019D104	6,164	392,581	SH		DFND		392,581	0	0
GREEN BANCORP INC	COM	39260X100	917	38,780	SH		DFND		38,780	0	0
CISCO SYS INC	COM	17275R102	2,646	78,683	SH		DFND		78,683	0	0
CA INC	COM	12673P105	2,099	62,873	SH		DFND		62,873	0	0
CITIGROUP INC	COM NEW	172967424	7,259	99,798	SH		DFND		99,798	0	0
NCR CORP NEW	COM	62886E108	1,588	42,313	SH		DFND		42,313	0	0
PRUDENTIAL FINL INC	COM	744320102	1,687	15,866	SH		DFND		15,866	0	0
AT&T INC	COM	00206R102	9,332	238,251	SH		DFND		238,251	0	0
UNITED PARCEL SERVICE INC	CL B	911312106	1,066	8,878	SH		DFND		8,878	0	0
MICROSOFT CORP	COM	594918104	7,868	105,630	SH		DFND		105,630	0	0
CHEVRON CORP NEW	COM	166764100	2,573	21,902	SH		DFND		21,902	0	0
AMERISOURCEBERGEN CORP	COM	03073E105	321	3,879	SH		DFND		3,879	0	0
LOWES COS INC	COM	548661107	3,798	47,516	SH		DFND		47,516	0	0
GRAND CANYON ED INC	COM	38526M106	1,350	14,860	SH		DFND		14,860	0	0
JUNIPER NETWORKS INC	COM	48203R104	2,781	99,938	SH		DFND		99,938	0	0
RITE AID CORP	COM	767754104	25	12,513	SH		DFND		12,513	0	0
EXELON CORP	COM	30161N101	2,897	76,898	SH		DFND		76,898	0	0
PFIZER INC	COM	717081103	5,191	145,414	SH		DFND		145,414	0	0
JOHNSON & JOHNSON	COM	478160104	598	4,596	SH		DFND		4,596	0	0
SYKES ENTERPRISES INC	COM	871237103	1,708	58,585	SH		DFND		58,585	0	0
SEMPRA ENERGY	COM	816851109	452	3,961	SH		DFND		3,961	0	0
HONEYWELL INTL INC	COM	438516106	4,641	32,741	SH		DFND		32,741	0	0
DISNEY WALT CO	COM DISNEY	254687106	252	2,559	SH		DFND		2,559	0	0
QUALCOMM INC	COM	747525103	1,468	28,325	SH		DFND		28,325	0	0
ORACLE CORP	COM	68389X105	319	6,592	SH		DFND		6,592	0	0
INTEL CORP	COM	458140100	3,336	87,610	SH		DFND		87,610	0	0
TEGNA INC	COM	87901J105	2,316	173,757	SH		DFND		173,757	0	0
ALTRIA GROUP INC	COM	02209S103	3,592	56,634	SH		DFND		56,634	0	0
EBAY INC	COM	278642103	3,996	103,898	SH		DFND		103,898	0	0
LIBERTY TRIPADVISOR HLDGS IN	COM SER A	531465102	956	77,403	SH		DFND		77,403	0	0
TRUPANION INC	COM	898202106	361	13,655	SH		DFND		13,655	0	0
WASHINGTON PRIME GROUP NEW	COM	93964W108	2,882	346,006	SH		DFND		346,006	0	0
MOELIS & CO	CL A	60786M105	430	9,984	SH		DFND		9,984	0	0
PHIBRO ANIMAL HEALTH CORP	CL A COM	71742Q106	449	12,112	SH		DFND		12,112	0	0
TRINET GROUP INC	COM	896288107	2,475	73,614	SH		DFND		73,614	0	0
ALPHABET INC	CAP STK CL C	02079K107	4,330	4,514	SH		DFND		4,514	0	0
SANTANDER CONSUMER USA HDG I	COM	80283M101	200	13,043	SH		DFND		13,043	0	0
ESSENT GROUP LTD	COM	G3198U102	2,248	55,503	SH		DFND		55,503	0	0
SCIENCE APPLICATNS INTL CP N	COM	808625107	373	5,584	SH		DFND		5,584	0	0
PATTERN ENERGY GROUP INC	CL A	70338P100	5,551	230,316	SH		DFND		230,316	0	0
FOX FACTORY HLDG CORP	COM	35138V102	1,126	26,136	SH		DFND		26,136	0	0
TABLEAU SOFTWARE INC	CL A	87336U105	1,598	21,336	SH		DFND		21,336	0	0
ABBVIE INC	COM	00287Y109	9,484	106,733	SH		DFND		106,733	0	0
PBF ENERGY INC	CL A	69318G106	577	20,916	SH		DFND		20,916	0	0
RH	COM	74967X103	2,564	36,465	SH		DFND		36,465	0	0
AMGEN INC	COM	031162100	8,275	44,382	SH		DFND		44,382	0	0
UNITED NAT FOODS INC	COM	911163103	516	12,417	SH		DFND		12,417	0	0
REALOGY HLDGS CORP	COM	75605Y106	2,283	69,280	SH		DFND		69,280	0	0
BOEING CO	COM	097023105	13,340	52,476	SH		DFND		52,476	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	733	4,001	SH		DFND		4,001	0	0
BRISTOL MYERS SQUIBB CO	COM	110122108	4,830	75,773	SH		DFND		75,773	0	0
AMAZON COM INC	COM	023135106	858	893	SH		DFND		893	0	0
DOWDUPONT INC	COM	26078J100	310	4,480	SH		DFND		4,480	0	0
DYNEGY INC NEW DEL	COM	26817R108	2,323	237,314	SH		DFND		237,314	0	0
HYSTER YALE MATLS HANDLING I	CL A	449172105	1,416	18,520	SH		DFND		18,520	0	0
GLOBUS MED INC	CL A	379577208	748	25,170	SH		DFND		25,170	0	0
BLOOMIN BRANDS INC	COM	094235108	1,247	70,859	SH		DFND		70,859	0	0
FACEBOOK INC	CL A	30303M102	4,282	25,059	SH		DFND		25,059	0	0
SUPERNUS PHARMACEUTICALS INC	COM	868459108	1,878	46,960	SH		DFND		46,960	0	0
PROTO LABS INC	COM	743713109	1,445	17,990	SH		DFND		17,990	0	0
ALLISON TRANSMISSION HLDGS I	COM	01973R101	448	11,924	SH		DFND		11,924	0	0
NATIONSTAR MTG HLDGS INC	COM	63861C109	1,419	76,420	SH		DFND		76,420	0	0
IMPERVA INC	COM	45321L100	1,530	35,257	SH		DFND		35,257	0	0
MARATHON PETE CORP	COM	56585A102	2,803	49,982	SH		DFND		49,982	0	0
PARK HOTELS RESORTS INC	COM	700517105	1,656	60,082	SH		DFND		60,082	0	0
AMC NETWORKS INC	CL A	00164V103	2,741	46,886	SH		DFND		46,886	0	0
RLJ LODGING TR	COM	74965L101	3,664	166,559	SH		DFND		166,559	0	0
INVESCO MORTGAGE CAPITAL INC	COM	46131B100	278	16,252	SH		DFND		16,252	0	0
RPX CORP	COM	74972G103	1,338	100,719	SH		DFND		100,719	0	0
SUMMIT HOTEL PPTYS	COM	866082100	676	42,249	SH		DFND		42,249	0	0
WALKER & DUNLOP INC	COM	93148P102	1,428	27,292	SH		DFND		27,292	0	0
GENERAL MTRS CO	COM	37045V100	247	6,112	SH		DFND		6,112	0	0
SABRA HEALTH CARE REIT INC	COM	78573L106	429	19,545	SH		DFND		19,545	0	0
QUAD / GRAPHICS INC	COM CL A	747301109	932	41,199	SH		DFND		41,199	0	0
LEAR CORP	COM NEW	521865204	2,142	12,373	SH		DFND		12,373	0	0
ATHENE HLDG LTD	CL A	G0684D107	2,186	40,608	SH		DFND		40,608	0	0
BIOVERATIV INC	COM	09075E100	1,331	23,330	SH		DFND		23,330	0	0
ICHOR HOLDINGS	SHS	G4740B105	2,284	85,216	SH		DFND		85,216	0	0
ALCOA CORP	COM	013872106	2,172	46,582	SH		DFND		46,582	0	0
ADVANCED DISP SVCS INC DEL	COM	00790X101	349	13,835	SH		DFND		13,835	0	0
MEDPACE HLDGS INC	COM	58506Q109	792	24,819	SH		DFND		24,819	0	0
TRITON INTL LTD	CL A	G9078F107	2,717	81,634	SH		DFND		81,634	0	0
INGEVITY CORP	COM	45688C107	3,835	61,395	SH		DFND		61,395	0	0
PINNACLE ENTMT INC NEW	COM	72348Y105	688	32,283	SH		DFND		32,283	0	0
LANTHEUS HLDGS INC	COM	516544103	1,470	82,574	SH		DFND		82,574	0	0
FIRST DATA CORP NEW	COM CL A	32008D106	3,936	218,155	SH		DFND		218,155	0	0
HOULIHAN LOKEY INC	CL A	441593100	220	5,625	SH		DFND		5,625	0	0
CHEMOURS CO	COM	163851108	2,111	41,711	SH		DFND		41,711	0	0
NATIONAL STORAGE AFFILIATES	COM SHS BEN IN	637870106	739	30,507	SH		DFND		30,507	0	0
AEROJET ROCKETDYNE HLDGS INC	COM	007800105	1,541	44,006	SH		DFND		44,006	0	0
XENIA HOTELS & RESORTS INC	COM	984017103	3,382	160,666	SH		DFND		160,666	0	0
FIRST AMERN FINL CORP	COM	31847R102	2,214	44,303	SH		DFND		44,303	0	0
LYONDELLBASELL INDUSTRIES N	SHS - A -	N53745100	1,761	17,781	SH		DFND		17,781	0	0
CHATHAM LODGING TR	COM	16208T102	668	31,315	SH		DFND		31,315	0	0
HYATT HOTELS CORP	COM CL A	448579102	3,268	52,890	SH		DFND		52,890	0	0
MSG NETWORK INC	CL A	553573106	1,032	48,661	SH		DFND		48,661	0	0
FORTINET INC	COM	34959E109	3,801	106,068	SH		DFND		106,068	0	0