Veredus Asset Management 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
3M CO	Com	88579Y101	628	3,280	SH		SOLE	0	406	0	2,874
ABBVIE	Com	00287Y109	931	14,298	SH		SOLE	0	13,608	0	690
ACCENTURE LTD BERMUDA	Com	G1151C101	2,937	24,500	SH		SOLE	0	0	0	24,500
ADIDAS AG SPON ADR	Com	00687A107	3,474	36,500	SH		SOLE	0	0	0	36,500
AERCAP HOLDINGS NV	Com	N00985106	20,036	435,831	SH		SOLE	0	144,831	0	291,000
ALIBABA GROUP HOLDING	Com	01609W102	5,777	53,581	SH		SOLE	0	17,581	0	36,000
ALLERGAN, INC	Com	G0177J108	26,812	112,223	SH		SOLE	0	16,223	0	96,000
ALLIANZ AKTIENGESELLSCHAF ADR	Com	018805101	1,479	79,788	SH		SOLE	0	65,589	0	14,199
ALPHABET INC	Com	02079K305	31,556	37,221	SH		SOLE	0	6,201	0	31,020
ALTRIA GROUP INC COM	Com	02209S103	33,026	462,415	SH		SOLE	0	92,726	0	369,689
AMDOCS LTD	Com	G02602103	18,556	304,260	SH		SOLE	0	101,160	0	203,100
AMERICAN INTL GROUP INC	Com	026874784	44,367	710,667	SH		SOLE	0	89,211	0	621,456
AMERIPRISE FINANCIAL INC	Com	03076C106	38,633	297,914	SH		SOLE	0	50,757	0	247,157
AMGEN INC	Com	031162100	28,673	174,762	SH		SOLE	0	28,247	0	146,515
ANTHEM, INC	Com	036752103	25,367	153,385	SH		SOLE	0	25,214	0	128,171
AON CORP.	Com	G0408V102	57,450	484,037	SH		SOLE	0	115,854	0	368,183
APPLE COMPUTER INC	Com	037833100	41,324	287,649	SH		SOLE	0	47,683	0	239,966
APPLIED MATERIALS	Com	038222105	17,415	447,679	SH		SOLE	0	16,279	0	431,400
ASHLAND GLOBAL HOLDINGS INC	Com	044209104	323	2,606	SH		SOLE	0	2,606	0	0
ASHTEAD GROUP PLC UNSP	Com	045055100	8,425	100,403	SH		SOLE	0	33,403	0	67,000
ASSURANT INC	Com	04621X108	14,885	155,585	SH		SOLE	0	5,485	0	150,100
ASTELLAS PHARMA INC	Com	04623U102	10,731	814,454	SH		SOLE	0	264,454	0	550,000
ASTRAZENECA PLC-SPONS ADR	Com	046353108	7,838	251,709	SH		SOLE	0	96,709	0	155,000
AT&T INC COM	Com	00206R102	9,489	228,369	SH		SOLE	0	58,720	0	169,649
AUTOZONE INC	Com	053332102	312	432	SH		SOLE	0	432	0	0
AXA- SPONS ADR	Com	054536107	12,603	490,163	SH		SOLE	0	191,124	0	299,039
BAIDU INC	Com	056752108	5,366	31,108	SH		SOLE	0	10,308	0	20,800
BANCO BRADESCO-ADR	Com	059460303	3,052	298,000	SH		SOLE	0	0	0	298,000
BANCO DO BRASIL SA SPNS	Com	059578104	3,493	324,300	SH		SOLE	0	0	0	324,300
BANCO SANTANDER CHILE NEW	Com	05965X109	18,145	723,515	SH		SOLE	0	237,115	0	486,400
BANCO SANTANDER SA ADS	Com	05964H105	15,142	2,467,646	SH		SOLE	0	814,646	0	1,653,000
BANK NOVA SCOTIA HALIFAX	Com	064149107	20,368	346,932	SH		SOLE	0	126,820	0	220,112
BANK OF MONTREAL	Com	063671101	24,115	322,439	SH		SOLE	0	108,439	0	214,000
BEST BUY INC COM	Com	086516101	16,692	339,608	SH		SOLE	0	14,238	0	325,370
BLACKROCK INC	Com	09247X101	25,974	67,727	SH		SOLE	0	11,793	0	55,934
BNP PARIBAS PA ADR	Com	05565A202	18,081	543,266	SH		SOLE	0	179,266	0	364,000
BRIDGESTONE CORPORATION	Com	108441205	3,215	158,560	SH		SOLE	0	0	0	158,560
BRITISH AMERN TOB PLC ADR	Com	110448107	18,292	275,819	SH		SOLE	0	59,819	0	216,000
BROADCOM LTD	Com	Y09827109	24,208	110,561	SH		SOLE	0	37,361	0	73,200
CA INC.	Com	12673P105	2,023	63,791	SH		SOLE	0	52,179	0	11,612
CANADIAN NATL RY CO	Com	136375102	20,029	275,330	SH		SOLE	0	93,030	0	182,300
CARDINAL HEALTH INC.	Com	14149y108	503	6,171	SH		SOLE	0	0	0	6,171
CAREFOUR SA SPON ADR	Com	144430204	2,804	594,100	SH		SOLE	0	0	0	594,100
CARNIVAL CORP-CL A	Com	143658300	39,694	673,802	SH		SOLE	0	104,690	0	569,112
CARNIVAL PLC	Com	14365C103	18,376	317,442	SH		SOLE	0	102,742	0	214,700
CBS CORPORATION	Com	124857202	51,886	748,077	SH		SOLE	0	87,156	0	660,921
CELGENE CORP	Com	151020104	17,130	137,665	SH		SOLE	0	23,562	0	114,103
CEMEX	Com	151290889	13,978	1,541,131	SH		SOLE	0	517,131	0	1,024,000
CENTERPOINT ENERGY	Com	15189T107	313	11,368	SH		SOLE	0	0	0	11,368
CERNER CORP	Com	156782104	13,299	225,982	SH		SOLE	0	7,982	0	218,000
CHECK POINT SOFTWARE TECH	Com	M22465104	13,725	133,691	SH		SOLE	0	45,391	0	88,300
CHEVRON CORP NEW COM	Com	166764100	1,595	14,848	SH		SOLE	0	10,659	0	4,189
CHINA OVERSEAS LAND & INVESTME	Com	169403201	7,134	83,265	SH		SOLE	0	28,265	0	55,000
CISCO SYS INC COM	Com	17275R102	50,971	1,508,014	SH		SOLE	0	281,005	0	1,227,009
CITIZENS FINANCIAL GROUP INC	Com	174610105	47,111	1,363,547	SH		SOLE	0	225,930	0	1,137,617
COACH INC	Com	189754104	1,622	39,229	SH		SOLE	0	31,870	0	7,359
CORNING INC	Com	219350105	15,792	584,899	SH		SOLE	0	10,499	0	574,400
CREDICORP	Com	G2519Y108	2,907	17,800	SH		SOLE	0	0	0	17,800
CRH PLC ADR	Com	12626K203	15,976	454,248	SH		SOLE	0	152,248	0	302,000
CRITEO SA ADS	Com	226718104	6,314	126,311	SH		SOLE	0	42,311	0	84,000
CTRIP.COM INTL LTD ADS	Com	22943F100	11,386	231,662	SH		SOLE	0	77,662	0	154,000
CVS CAREMARK CORPORATION COM	Com	126650100	17,483	222,714	SH		SOLE	0	38,003	0	184,711
DBS GROUP HOLDINGS LTD	Com	23304Y100	14,419	259,016	SH		SOLE	0	87,016	0	172,000
DELPHI AUTOMOTIVE PLC	Com	G27823106	51,760	643,067	SH		SOLE	0	149,511	0	493,556
DELTA AIRLINES	Com	247361702	23,054	501,609	SH		SOLE	0	83,286	0	418,323
DISCOVER FINANCIAL SERVICES	Com	254709108	32,725	478,514	SH		SOLE	0	79,658	0	398,856
DISCOVERY COMMUNICATIONS INC.	Com	25470F302	14,962	528,518	SH		SOLE	0	18,518	0	510,000
DOMINION RES INC VA NEW COM	Com	25746U109	526	6,778	SH		SOLE	0	200	0	6,578
DOW CHEMICAL CO	Com	260543103	19,761	311,000	SH		SOLE	0	75,041	0	235,959
E ON SE SPONS ADR	Com	268780103	5,731	717,299	SH		SOLE	0	236,299	0	481,000
EATON CORP PLC	Com	G29183103	1,986	26,791	SH		SOLE	0	22,053	0	4,738
EMERSON ELEC CO COM	Com	291011104	1,700	28,395	SH		SOLE	0	20,803	0	7,592
ENERGY TRANSFER EQUITY LP	Ltd Partn	29273V100	333	16,884	SH		SOLE	0	16,884	0	0
EXXON MOBIL	Com	30231G102	930	11,342	SH		SOLE	0	6,674	0	4,668
F5 NETWORKS	Com	315616102	58,039	407,090	SH		SOLE	0	54,222	0	352,868
FEDEX CORP	Com	31428X106	17,672	90,557	SH		SOLE	0	15,047	0	75,510
FOOT LOCKER INC	Com	344849104	43,567	582,371	SH		SOLE	0	70,378	0	511,993
FORTESCUE METAL GROUP	Com	34959A206	2,931	306,900	SH		SOLE	0	0	0	306,900
FRESENIUS MEDICAL CARE AG & CO	Com	358029106	344	8,163	SH		SOLE	0	8,163	0	0
FUJIFILM HOLDINGS CORP	Com	35958N107	20,850	532,525	SH		SOLE	0	177,525	0	355,000
GARMIN LTD	Com	H2906T109	16,535	323,519	SH		SOLE	0	32,173	0	291,346
GENERAL ELECTRIC CO	Com	369604103	1,739	58,337	SH		SOLE	0	56,237	0	2,100
GENERAL MILLS	Com	370334104	1,799	30,481	SH		SOLE	0	6,260	0	24,221
GLAXOSMITHKLINE PLC	Com	37733W105	910	21,602	SH		SOLE	0	21,602	0	0
GOLDMAN SACHS GROUP INC COM	Com	38141G104	34,879	151,831	SH		SOLE	0	25,147	0	126,684
GRIFOLS, S.A. ADR	Com	398438408	18,220	965,255	SH		SOLE	0	314,655	0	650,600
GRUPO FINANCIERO SANTANDER MEX	Com	40053C105	15,741	1,743,217	SH		SOLE	0	577,017	0	1,166,200
HALLIBURTON CO	Com	406216101	8,689	176,569	SH		SOLE	0	29,264	0	147,305
HCA HOLDINGS INC.	Com	40412C101	33,086	371,793	SH		SOLE	0	62,865	0	308,928
HDFC BANK LTD	Com	40415F101	21,536	286,306	SH		SOLE	0	96,306	0	190,000
HEWLETT PACKARD ENTERPRISE CO	Com	42824C109	14,831	625,769	SH		SOLE	0	23,214	0	602,555
HOLLYSYS AUTOMATION, LTD	Com	G45667105	11,022	651,030	SH		SOLE	0	216,430	0	434,600
HOME DEPOT	Com	437076102	60,014	408,730	SH		SOLE	0	54,784	0	353,946
HSBC HLDGS PLC ADR	Com	404280406	1,135	27,808	SH		SOLE	0	22,691	0	5,117
ICON PLC - AMERICAN DEPOSITARY	Com	G4705A100	21,948	275,312	SH		SOLE	0	92,412	0	182,900
IHS MARKIT LTD	Com	G47567105	17,460	416,212	SH		SOLE	0	139,212	0	277,000
ILLINOIS TOOL WKS INC COM	Com	452308109	43,004	324,633	SH		SOLE	0	53,315	0	271,318
ING GROUP N V	Com	456837103	21,394	1,417,802	SH		SOLE	0	516,483	0	901,319
INGERSOLL RAND CO	Com	G47791101	15,661	192,587	SH		SOLE	0	6,787	0	185,800
INTEL CORP	Com	458140100	44,487	1,233,341	SH		SOLE	0	240,837	0	992,504
INTUIT	Com	461202103	14,659	126,383	SH		SOLE	0	4,583	0	121,800
INVESCO PLC	Com	G491BT108	21,090	688,524	SH		SOLE	0	167,454	0	521,070
IPG PHOTONICS	Com	44980X109	22,973	190,333	SH		SOLE	0	31,520	0	158,813
ISHARES BARCLAYS TIPS BOND FUN	ETF	464287176	401	3,496	SH		SOLE	0	3,496	0	0
ITAU UNIBANCO HOLDINGS SA	Com	465562106	3,088	255,800	SH		SOLE	0	0	0	255,800
J P MORGAN CHASE & CO	Com	46625H100	48,343	550,361	SH		SOLE	0	91,530	0	458,831
JAZZ PHARMACEUTICALS INC	Com	G50871105	986	6,794	SH		SOLE	0	2,108	0	4,686
JOHNSON & JOHNSON COM	Com	478160104	799	6,418	SH		SOLE	0	3,505	0	2,913
JOHNSON CONTROLS INTERNATIONAL	Com	G51502105	15,500	368,004	SH		SOLE	0	13,807	0	354,197
KENTUCKY BANCSHARES INC	Com	491203105	311	8,400	SH		SOLE	0	8,400	0	0
KUBOTA CORPORATION ADR	Com	501173207	16,047	212,977	SH		SOLE	0	71,377	0	141,600
LAZARD LTD	Com	G54050102	14,500	315,285	SH		SOLE	0	100,185	0	215,100
LINCOLN NATIONAL CORP	Com	534187109	29,298	447,652	SH		SOLE	0	74,195	0	373,457
LVMH Moet Hennessy	Com	502441306	15,593	354,703	SH		SOLE	0	119,703	0	235,000
LYONDELLBASELL INDUSTRIES	Com	N53745100	18,602	203,991	SH		SOLE	0	61,221	0	142,770
MAGNA INTERNATIONAL INC	Com	559222401	15,233	352,950	SH		SOLE	0	96,000	0	256,950
MAKITA CORP ADR	Com	560877300	17,157	247,225	SH		SOLE	0	83,125	0	164,100
MARATHON OIL CORP COM	Com	565849106	809	18,020	SH		SOLE	0	17,570	0	450
MARATHON PETROLEUM CORP	Com	56585A102	25,667	507,854	SH		SOLE	0	74,871	0	432,983
MCDONALDS CORP	Com	580135101	1,406	10,845	SH		SOLE	0	5,941	0	4,904
MICROSOFT CORP	Com	594918104	1,023	15,536	SH		SOLE	0	9,603	0	5,933
MITSUBISHI UFJ FINL GROUP ADR	Com	606822104	12,257	1,933,236	SH		SOLE	0	645,936	0	1,287,300
MOBILE TELESYSTEMS OJSC	Com	607409109	18,832	1,707,318	SH		SOLE	0	573,318	0	1,134,000
NATIONAL GRID TRANSCO PLC ADR	Com	636274300	1,573	24,778	SH		SOLE	0	19,861	0	4,917
NAVIENT CORPORATION	Com	63938C108	12,677	858,906	SH		SOLE	0	31,616	0	827,290
NETAPP	Com	64110D104	325	7,770	SH		SOLE	0	7,770	0	0
NETEASE INC. ADR	Com	64110W102	22,204	78,182	SH		SOLE	0	22,282	0	55,900
NEW ORIENTAL EDUCATION ADR	Com	647581107	20,527	339,962	SH		SOLE	0	114,962	0	225,000
NIPPON TELEG & TEL CORP	Com	654624105	16,887	394,193	SH		SOLE	0	128,193	0	266,000
NISSAN MOTORS	Com	654744408	13,161	683,334	SH		SOLE	0	180,944	0	502,390
NOAH HOLDINGS LTD ADS	Com	65487X102	5,403	212,853	SH		SOLE	0	70,853	0	142,000
NOVO-NORDISK A S ADR	Com	670100205	2,752	80,280	SH		SOLE	0	0	0	80,280
NTT DOCOMO, IN	Com	62942M201	299	12,817	SH		SOLE	0	12,817	0	0
NVIDIA CORP	Com	67066g104	25,113	230,545	SH		SOLE	0	37,910	0	192,635
NVR INC	Com	62944T105	49,784	23,629	SH		SOLE	0	3,975	0	19,654
NXP SEMICONDUCTORS NV	Com	N6596X109	24,233	234,125	SH		SOLE	0	79,625	0	154,500
OMEGA HEALTHCARE INVS	Com	681936100	15,350	465,289	SH		SOLE	0	103,161	0	362,128
ON SEMICONDUCTOR CORP	Com	682189105	47,852	3,018,136	SH		SOLE	0	436,563	0	2,581,573
ORIX CORP ADR	Com	686330101	20,882	280,944	SH		SOLE	0	93,144	0	187,800
OSHKOSH CORPORATION	Com	688239201	21,962	320,197	SH		SOLE	0	54,213	0	265,984
PACWEST BANCORP	Com	695263103	1,435	26,933	SH		SOLE	0	21,938	0	4,995
PANDORA A/S ADR	Com	698341203	2,488	89,760	SH		SOLE	0	0	0	89,760
PEPSICO INC COM	Com	713448108	203	1,814	SH		SOLE	0	1,014	0	800
PFIZER INC	Com	717081103	18,039	527,304	SH		SOLE	0	90,267	0	437,037
PHILIP MORRIS INTL INC COM	Com	718172109	3,041	26,937	SH		SOLE	0	22,444	0	4,493
PHILLIPS 66	Com	718546104	213	2,686	SH		SOLE	0	960	0	1,726
PJSC LUKOIL CO ADR	Com	69343P105	2,772	52,250	SH		SOLE	0	0	0	52,250
PLAINS ALL AMERICAN PIPELINE L	Ltd Partn	726503105	299	9,460	SH		SOLE	0	9,200	0	260
PRICELINE INC	Com	741503403	41,612	23,378	SH		SOLE	0	3,908	0	19,470
PROCTER & GAMBLE	Com	742718109	1,045	11,625	SH		SOLE	0	6,136	0	5,489
PUBLIC SVC ENTERPRISE	Com	744573106	15,990	360,547	SH		SOLE	0	60,637	0	299,910
PULTEGROUP INC.	Com	745867101	14,060	597,008	SH		SOLE	0	98,939	0	498,069
QORVO, INC	Com	74736K101	47,947	699,334	SH		SOLE	0	95,300	0	604,034
QUALCOMM INC	Com	747525103	13,654	238,136	SH		SOLE	0	40,711	0	197,425
QUINTILES TRANSNATIONAL HLDG	Com	74876Y101	17,667	219,381	SH		SOLE	0	36,431	0	182,950
REPSOL S.A.	Com	76026T205	23,171	1,494,436	SH		SOLE	0	499,436	0	995,000
RIO TINTO PLC ADR	Com	767204100	44,378	1,090,901	SH		SOLE	0	235,646	0	855,255
ROBERT HALF INTL	Com	770323103	14,244	291,702	SH		SOLE	0	10,702	0	281,000
ROCHE HLDG LTD	Com	771195104	3,102	96,840	SH		SOLE	0	0	0	96,840
ROSS STORES INC COM	Com	778296103	233	3,544	SH		SOLE	0	0	0	3,544
RYANAIR HOLDINGS PLC ADR	Com	783513203	23,655	285,064	SH		SOLE	0	84,239	0	200,825
SBERBANK OF RUSSIA	Com	80585Y308	8,499	737,148	SH		SOLE	0	161,718	0	575,430
SENSATA TECHNOLOGIES HOLDING N	Com	N7902X106	16,436	376,365	SH		SOLE	0	126,365	0	250,000
SHAW COMMUNICATIONS	Com	82028K200	1,096	52,870	SH		SOLE	0	43,013	0	9,857
SHERWIN WILLIAMS CO	Com	824348106	16,709	53,868	SH		SOLE	0	1,968	0	51,900
SHIONOGI & CO LTD UNSP	Com	824667109	2,959	29,000	SH		SOLE	0	0	0	29,000
SHIRE PLC (ADS)	Com	82481R106	20,666	118,613	SH		SOLE	0	38,513	0	80,100
SIEMENS A G ADR	Com	826197501	14,783	215,809	SH		SOLE	0	70,419	0	145,390
SOFTBANK CORP UNSP ADR	Com	83404D109	2,763	77,800	SH		SOLE	0	0	0	77,800
SOUTHWEST AIRLINES	Com	844741108	27,084	503,798	SH		SOLE	0	83,087	0	420,711
STANDARD BANK GROUP LTD	Com	853118206	2,698	252,600	SH		SOLE	0	0	0	252,600
STANTEC, INC	Com	85472N109	11,396	440,001	SH		SOLE	0	147,601	0	292,400
STATE STR CORP COM	Com	857477103	17,920	225,094	SH		SOLE	0	37,644	0	187,450
STRYKER CORP	Com	863667101	23,567	179,013	SH		SOLE	0	26,319	0	152,694
SUN LIFE FINANCIAL	Com	866796105	18,605	509,034	SH		SOLE	0	191,004	0	318,030
SUNTRUST BANKS INC	Com	867914103	27,505	497,385	SH		SOLE	0	82,433	0	414,952
SUZUKI MOTOR CROP UNSP	Com	86959X107	3,407	20,190	SH		SOLE	0	0	0	20,190
TAIWAN SEMICONDUCTOR MFG CO AD	Com	874039100	24,523	746,724	SH		SOLE	0	249,724	0	497,000
TATA MOTORS LTD ADR	Com	876568502	9,038	253,512	SH		SOLE	0	84,512	0	169,000
TE CONNECTIVITY LTD.	Com	H84989104	38,671	518,728	SH		SOLE	0	80,591	0	438,137
TELUS CORP NV	Com	87971M103	12,541	386,112	SH		SOLE	0	125,812	0	260,300
TIME WARNER INC	Com	887317303	14,328	146,634	SH		SOLE	0	2,634	0	144,000
TJX COMPANIES	Com	872540109	15,163	191,748	SH		SOLE	0	6,748	0	185,000
TOTAL SA	Com	89151E109	67,108	1,330,993	SH		SOLE	0	307,447	0	1,023,546
TRACTOR SUPPLY	Com	892356106	13,001	188,501	SH		SOLE	0	6,901	0	181,600
TWENTY-FIRST CENTURY FOX	Com	90130A101	15,986	493,555	SH		SOLE	0	8,155	0	485,400
ULTA SALON COSMETICS & FRAGR	Com	90384S303	15,933	55,861	SH		SOLE	0	1,961	0	53,900
UNILEVER NV	Com	904784709	4,930	99,233	SH		SOLE	0	99,233	0	0
UNION PAC CORP COM	Com	907818108	20,653	194,982	SH		SOLE	0	32,597	0	162,385
UNITED HEALTHCARE CORP	Com	91324p102	59,714	364,087	SH		SOLE	0	64,776	0	299,311
UNITED RENTALS INC	Com	911363109	51,958	415,498	SH		SOLE	0	51,910	0	363,588
UNITED TECHNOLOGIES CORP COM	Com	913017109	35,284	314,376	SH		SOLE	0	54,293	0	260,083
VALE SA	Com	91912E105	2,845	299,500	SH		SOLE	0	0	0	299,500
VANGUARD BD INDEX FD INC	Short Term Bond	921937827	1,078	13,523	SH		SOLE	0	13,523	0	0
VANGUARD INTERMEDIATE-TERM COR	Int Term Corp	92206C870	251	2,910	SH		SOLE	0	2,910	0	0
VERIZON COMMUNICATIONS	Com	92343V104	15,245	312,741	SH		SOLE	0	61,644	0	251,097
VERMILION ENERGY INC	Com	923725105	22,316	594,929	SH		SOLE	0	209,395	0	385,534
VIPSHOP HOLDINGS LTD ADS	Com	92763W103	10,842	812,729	SH		SOLE	0	272,729	0	540,000
VIVENDI SA UNSPON ADR	Com	92852T201	2,870	148,100	SH		SOLE	0	0	0	148,100
W.W. GRAINGER INC.	Com	384802104	11,401	48,981	SH		SOLE	0	1,781	0	47,200
WESTPAC BKG CORP	Com	961214301	21,025	786,865	SH		SOLE	0	292,214	0	494,651
WHIRLPOOL CORP	Com	963320106	35,725	208,514	SH		SOLE	0	34,651	0	173,863
WNS HOLDINGS LTD	Com	92932M101	11,498	401,900	SH		SOLE	0	133,900	0	268,000
WOLSELEY PLC SPN ADR	Com	977868306	2,998	472,800	SH		SOLE	0	0	0	472,800
WPP PLC ADR	Com	92937A102	2,735	25,000	SH		SOLE	0	0	0	25,000
WYNDHAM WORLDWIDE CORP	Com	98310W108	21,651	256,860	SH		SOLE	0	43,456	0	213,404
XL GROUP PLC	Com	G98294104	15,361	385,370	SH		SOLE	0	13,570	0	371,800
YANDEX N.V.	Com	N97284108	16,732	762,956	SH		SOLE	0	254,956	0	508,000
YUM! BRANDS INC	Com	988498101	14,600	228,482	SH		SOLE	0	8,382	0	220,100