Sapiens International Corp N V (SPNS)

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Institutional Investors' Holdings

Filing Period:

No.	Name	Shares	Value	% Port
1.	Rhumbline Advisers	264,065	$7,153,510	0.01%
2.	Confluence Investment Management Llc	104,701	$2,836,350	0.04%
3.	Johnson Investment Counsel Inc	48,910	$1,324,972	0.01%
4.	Versant Capital Management, Inc	898	$24,327	0%
5.	Gamma Investing Llc	531	$14,385	0%