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
ABBVIE	CS	00287Y109	25,060	344,609	SH		SOLE	0	63,191	0	281,418
ADIDAS AG SPON ADR	CS	00687A107	3,639	23,600	SH		SOLE	0	0	0	23,600
ADVANCE AUTO PARTS INC	CS	00751Y106	13,634	88,451	SH		SOLE	0	1,051	0	87,400
AERCAP HOLDINGS NV	CS	N00985106	24,605	40,482	SH		SOLE	0	39,899	0	583
ALIBABA GROUP HOLDING	CS	01609W102	14,963	88,302	SH		SOLE	0	31,797	0	56,505
ALLERGAN, INC	CS	G0177J108	23,215	138,659	SH		SOLE	0	41,712	0	96,947
ALLIANZ AKTIENGESELLSCHAF ADR	CS	018805101	1,688	70,090	SH		SOLE	0	56,712	0	13,378
ALPHABET INC	CS	02079K305	36,186	33,419	SH		SOLE	0	4,559	0	28,860
ALTRIA GROUP INC COM	CS	02209S103	18,714	395,236	SH		SOLE	0	70,755	0	324,481
AMDOCS LTD	CS	G02602103	11,358	182,932	SH		SOLE	0	66,202	0	116,730
AMERICAN EXPRESS CO	CS	025816109	31,436	254,664	SH		SOLE	0	35,303	0	219,361
AMERIPRISE FINANCIAL INC	CS	03076C106	37,159	255,984	SH		SOLE	0	34,265	0	221,719
AMERISOURCE BERGEN CORP	CS	03073E105	14,640	171,699	SH		SOLE	0	22,640	0	149,059
AMGEN INC	CS	031162100	32,586	176,829	SH		SOLE	0	24,613	0	152,216
ANTHEM, INC	CS	036752103	32,596	115,504	SH		SOLE	0	15,700	0	99,804
AON CORP.	CS	G0408V102	20,349	105,447	SH		SOLE	0	38,314	0	67,133
APPLE COMPUTER INC	CS	037833100	53,482	270,220	SH		SOLE	0	37,897	0	232,323
APPLIED MATERIALS	CS	038222105	17,058	379,827	SH		SOLE	0	4,027	0	375,800
APTIV PLC ORDINARY	CS	G6095L109	60,157	744,241	SH		SOLE	0	174,216	0	570,025
ASHLAND GLOBAL HOLDINGS INC	CS	044209104	208	2,606	SH		SOLE	0	2,606	0	0
ASHTEAD GROUP PLC UNSP	CS	045055100	24,872	217,436	SH		SOLE	0	68,216	0	149,220
ASTELLAS PHARMA INC	CS	04623U102	2,948	207,330	SH		SOLE	0	0	0	207,330
ASTRAZENECA PLC-SPONS ADR	CS	046353108	1,362	32,992	SH		SOLE	0	32,992	0	0
AT&T INC COM	CS	00206R102	1,511	45,083	SH		SOLE	0	30,831	0	14,252
AUTOZONE INC	CS	053332102	49,876	45,364	SH		SOLE	0	4,359	0	41,005
AXA- SPONS ADR	CS	054536107	16,187	618,333	SH		SOLE	0	241,965	0	376,368
B A S F A G	CS	055262505	11,389	624,040	SH		SOLE	0	224,349	0	399,691
BAIDU INC	CS	056752108	9,090	77,457	SH		SOLE	0	28,871	0	48,586
BANCO DO BRASIL SA SPNS	CS	059578104	3,426	245,260	SH		SOLE	0	0	0	245,260
BANCO SANTANDER CHILE NEW	CS	05965X109	19,341	646,382	SH		SOLE	0	234,689	0	411,693
BANCO SANTANDER MEXICO SA INST	CS	05969B103	14,303	1,869,654	SH		SOLE	0	643,282	0	1,226,372
BANK NOVA SCOTIA HALIFAX	CS	064149107	1,089	20,042	SH		SOLE	0	16,322	0	3,720
BANK OF AMERICA CORPORATION	CS	060505104	43,804	1,510,479	SH		SOLE	0	205,886	0	1,304,593
BANK OF MONTREAL	CS	063671101	17,097	226,606	SH		SOLE	0	81,442	0	145,164
BANK RAKYAT ADR	CS	69366X100	2,984	194,140	SH		SOLE	0	0	0	194,140
BEST BUY INC COM	CS	086516101	14,798	212,221	SH		SOLE	0	2,521	0	209,700
BIOGEN IDEC INC	CS	09062x103	12,860	54,986	SH		SOLE	0	6,652	0	48,334
BLACKROCK INC	CS	09247X101	280	596	SH		SOLE	0	386	0	210
BNP PARIBAS PA ADR	CS	05565A202	15,605	658,973	SH		SOLE	0	233,060	0	425,913
BOOKING HOLDINGS INC	CS	09857L108	33,462	17,849	SH		SOLE	0	2,445	0	15,404
BP PLC	CS	055622104	2,735	65,580	SH		SOLE	0	0	0	65,580
BRIDGESTONE CORPORATION	CS	108441205	2,921	149,090	SH		SOLE	0	0	0	149,090
BRITISH AMERN TOB PLC ADR	CS	110448107	6,292	180,428	SH		SOLE	0	55,307	0	125,121
BROADCOM LTD	CS	11135F101	25,790	89,592	SH		SOLE	0	10,631	0	78,961
CANADIAN NATL RY CO	CS	136375102	18,030	194,967	SH		SOLE	0	69,535	0	125,432
CARNIVAL CORP-CL A	CS	143658300	27,856	598,403	SH		SOLE	0	82,066	0	516,337
CARNIVAL PLC	CS	14365C103	20,145	444,999	SH		SOLE	0	135,392	0	309,607
CELGENE CORP	CS	151020104	28,401	307,234	SH		SOLE	0	36,204	0	271,030
CHEVRON CORP NEW COM	CS	166764100	37,970	305,121	SH		SOLE	0	49,316	0	255,805
CHINA COMM CONST GRP	CS	168926103	8,505	481,569	SH		SOLE	0	172,391	0	309,178
CHINA OVERSEAS LAND & INVESTME	CS	169403201	10,048	541,719	SH		SOLE	0	194,590	0	347,129
CISCO SYS INC COM	CS	17275R102	44,749	817,636	SH		SOLE	0	111,819	0	705,817
CITIGROUP INC	CS	172967424	16,952	242,066	SH		SOLE	0	2,566	0	239,500
CITIZENS FINANCIAL GROUP INC	CS	174610105	49,218	1,391,914	SH		SOLE	0	190,406	0	1,201,508
CNOOC LTD	CS	126132109	31,398	184,320	SH		SOLE	0	59,463	0	124,857
COGNIZANT TECH	CS	192446102	17,955	283,251	SH		SOLE	0	38,872	0	244,379
CONOCOPHILLIPS	CS	20825C104	29,949	490,970	SH		SOLE	0	67,336	0	423,634
CORESITE REALTY CORP.	CS	21870Q105	16,936	147,053	SH		SOLE	0	20,200	0	126,853
CORNING INC	CS	219350105	14,999	451,374	SH		SOLE	0	1,174	0	450,200
CRH PLC ADR	CS	12626K203	16,165	493,603	SH		SOLE	0	175,976	0	317,627
DANONE SPON ADR	CS	23636T100	21,384	1,263,012	SH		SOLE	0	457,797	0	805,215
DAVITA INC	CS	23918k108	15,609	277,441	SH		SOLE	0	2,941	0	274,500
DBS GROUP HOLDINGS LTD	CS	23304Y100	26,097	339,846	SH		SOLE	0	124,345	0	215,501
DELTA AIRLINES	CS	247361702	25,101	442,301	SH		SOLE	0	60,817	0	381,484
DOLLAR GENERAL CORP	CS	256677105	17,085	126,403	SH		SOLE	0	1,503	0	124,900
E ON SE SPONS ADR	CS	268780103	8,322	770,456	SH		SOLE	0	264,824	0	505,632
EASTMAN CHEMICAL CO	CS	277432100	20,441	262,639	SH		SOLE	0	35,574	0	227,065
EATON CORP PLC	CS	G29183103	1,963	23,577	SH		SOLE	0	19,113	0	4,464
EATON VANCE MUNICIPAL BD	CS	27827X101	284	22,829	SH		SOLE	0	22,829	0	0
EBAY INC	CS	278642103	16,021	405,602	SH		SOLE	0	4,302	0	401,300
EMERSON ELEC CO COM	CS	291011104	213	3,193	SH		SOLE	0	0	0	3,193
ENI S P A	CS	26874R108	23,859	722,356	SH		SOLE	0	259,647	0	462,709
ENTERPRISE PRODUCTS PARTNERS	LTD PARTN	293792107	202	7,000	SH		SOLE	0	7,000	0	0
EXXON MOBIL	CS	30231G102	961	12,538	SH		SOLE	0	8,170	0	4,368
F5 NETWORKS	CS	315616102	44,660	306,671	SH		SOLE	0	29,805	0	276,866
FEDEX CORP	CS	31428X106	13,066	79,583	SH		SOLE	0	10,974	0	68,609
FIDELITY ADVISOR STRATEGIC INC	CS	315807461	181	14,532	SH		SOLE	0	14,532	0	0
FIFTH THIRD BANCORP	CS	316773100	18,582	666,038	SH		SOLE	0	90,892	0	575,146
FIRST FINANCIAL BANCORP	CS	320209109	517	21,364	SH		SOLE	0	21,364	0	0
FMC CORP	CS	302491303	16,265	196,080	SH		SOLE	0	2,080	0	194,000
FOOT LOCKER INC	CS	344849104	9,309	222,059	SH		SOLE	0	30,301	0	191,758
FRESENIUS MEDICAL CARE AG & CO	CS	358029106	224	5,712	SH		SOLE	0	5,712	0	0
FUJIFILM HOLDINGS CORP	CS	35958N107	25,826	508,882	SH		SOLE	0	181,754	0	327,128
GENERAL MILLS	CS	370334104	2,403	45,755	SH		SOLE	0	33,923	0	11,832
GLAXOSMITHKLINE PLC	CS	37733W105	3,751	93,716	SH		SOLE	0	21,556	0	72,160
GOLDMAN SACHS BDC	CS	38147U107	392	19,950	SH		SOLE	0	19,950	0	0
GRIFOLS, S.A. ADR	CS	398438408	18,608	881,908	SH		SOLE	0	321,614	0	560,294
HCA HEALTHCARE INC	CS	40412C101	15,510	114,748	SH		SOLE	0	448	0	114,300
HDFC BANK LTD	CS	40415F101	25,156	193,448	SH		SOLE	0	70,403	0	123,045
HEWLETT PACKARD ENTERPRISE CO	CS	42824C109	14,648	979,831	SH		SOLE	0	12,136	0	967,695
HOLLYSYS AUTOMATION, LTD	CS	G45667105	11,170	587,938	SH		SOLE	0	207,581	0	380,357
HOME DEPOT	CS	437076102	57,763	277,748	SH		SOLE	0	28,482	0	249,266
HSBC HLDGS PLC ADR	CS	404280406	1,516	36,328	SH		SOLE	0	29,873	0	6,455
HUAZHU GROUP LTD	CS	44332N106	229	6,305	SH		SOLE	0	6,305	0	0
HUMANA INC	CS	444859102	212	798	SH		SOLE	0	140	0	658
ICON PLC - AMERICAN DEPOSITARY	CS	G4705A100	17,943	116,535	SH		SOLE	0	42,484	0	74,051
IHS MARKIT LTD	CS	G47567105	30,222	474,285	SH		SOLE	0	172,202	0	302,083
ILLINOIS TOOL WKS INC COM	CS	452308109	36,993	245,295	SH		SOLE	0	33,839	0	211,456
IMPERIAL OIL LTD CL A	CS	453038408	2,789	100,810	SH		SOLE	0	0	0	100,810
INFOSYS TECHNOLOGIES LTD	CS	456788108	14,322	1,338,544	SH		SOLE	0	482,468	0	856,076
ING GROUP N V	CS	456837103	15,903	1,374,545	SH		SOLE	0	548,947	0	825,598
INTEL CORP	CS	458140100	39,603	827,299	SH		SOLE	0	113,371	0	713,928
INTL. BUSINESS MACHS CO	CS	459200101	300	2,176	SH		SOLE	0	0	0	2,176
IQVIA HOLDINGS INC	CS	46266C105	40,866	253,987	SH		SOLE	0	34,836	0	219,151
ISHARES BARCLAYS TIPS BOND FUN	ETF	464287176	238	2,060	SH		SOLE	0	2,060	0	0
ISHARES MSCI ACWI EX US ETF	ETF	464288240	4,003	85,598	SH		SOLE	0	85,327	0	271
ISHARES NATIONAL MUNI BOND ETF	ETF	464288414	647	5,730	SH		SOLE	0	0	0	5,730
ISHARES TR	ETF	464287242	227	1,830	SH		SOLE	0	1,830	0	0
ITAU UNIBANCO HOLDINGS SA	CS	465562106	17,897	1,899,903	SH		SOLE	0	685,829	0	1,214,074
ITOCHU CORPORATION	CS	465717106	3,106	81,470	SH		SOLE	0	0	0	81,470
J P MORGAN CHASE & CO	CS	46625H100	57,509	514,393	SH		SOLE	0	70,037	0	444,356
JAZZ PHARMACEUTICALS INC	CS	G50871105	275	1,930	SH		SOLE	0	864	0	1,066
JOHNSON & JOHNSON COM	CS	478160104	472	3,388	SH		SOLE	0	900	0	2,488
JULIUS BAER GROUP LTD ADR	CS	48137C108	1,773	201,019	SH		SOLE	0	198,327	0	2,692
KELLOGG CO	CS	487836108	202	3,771	SH		SOLE	0	0	0	3,771
KENTUCKY BANCSHARES INC	CS	491203105	410	16,800	SH		SOLE	0	16,800	0	0
KIMBERLY CLARK CORP COM	CS	494368103	295	2,215	SH		SOLE	0	200	0	2,015
KOHLS CORP	CS	500255104	1,248	26,251	SH		SOLE	0	21,049	0	5,202
KOMATSU LTD	CS	500458401	12,674	522,648	SH		SOLE	0	187,804	0	334,844
KONINKLIJKE	CS	500467501	2,659	118,370	SH		SOLE	0	0	0	118,370
KROGER CO	CS	501044101	13,293	612,292	SH		SOLE	0	6,492	0	605,800
LAZARD LTD	CS	G54050102	14,892	433,044	SH		SOLE	0	128,544	0	304,500
LINCOLN NATIONAL CORP	CS	534187109	31,054	481,832	SH		SOLE	0	65,580	0	416,252
LOWE'S CO.	CS	548661107	13,881	137,559	SH		SOLE	0	1,459	0	136,100
LVMH Moet Hennessy	CS	502441306	21,732	255,343	SH		SOLE	0	95,095	0	160,248
LYONDELLBASELL INDUSTRIES	CS	N53745100	20,018	232,415	SH		SOLE	0	80,945	0	151,470
MACYS INC	CS	55616P104	943	43,935	SH		SOLE	0	35,428	0	8,507
MAGNA INTERNATIONAL INC	CS	559222401	21,804	438,709	SH		SOLE	0	139,415	0	299,294
MARATHON PETROLEUM CORP	CS	56585A102	24,385	436,382	SH		SOLE	0	62,075	0	374,307
MCDONALDS CORP	CS	580135101	1,055	5,080	SH		SOLE	0	2,919	0	2,161
MEDTRONIC INC	CS	G5960L103	66,837	686,287	SH		SOLE	0	115,648	0	570,639
MELCO RESORTS AND ENTERTAINMEN	CS	585464100	18,326	843,752	SH		SOLE	0	293,685	0	550,067
MERCK & CO INC	CS	58933Y105	15,242	181,781	SH		SOLE	0	1,881	0	179,900
MICROSOFT CORP	CS	594918104	2,513	18,759	SH		SOLE	0	13,256	0	5,503
MITSUBISHI UFJ FINL GROUP ADR	CS	606822104	9,369	1,972,410	SH		SOLE	0	707,054	0	1,265,356
MOBILE TELESYSTEMS OJSC	CS	607409109	17,197	1,847,140	SH		SOLE	0	654,356	0	1,192,784
MOMO INC	CS	60879B107	13,918	388,778	SH		SOLE	0	142,712	0	246,066
MORGAN STANLEY COM NEW	CS	617446448	42,286	965,210	SH		SOLE	0	132,154	0	833,056
NATIONAL GRID TRANSCO PLC ADR	CS	636274409	1,246	23,424	SH		SOLE	0	19,178	0	4,246
NETEASE INC. ADR	CS	64110W102	15,638	61,143	SH		SOLE	0	22,175	0	38,968
NEW ORIENTAL EDUCATION ADR	CS	647581107	26,102	270,262	SH		SOLE	0	85,525	0	184,737
NIPPON TELEG & TEL CORP	CS	654624105	19,872	427,395	SH		SOLE	0	147,667	0	279,728
NITTO DENKO CORP	CS	654802206	2,662	107,780	SH		SOLE	0	0	0	107,780
NOKIA CORP.	CS	654902204	2,463	491,710	SH		SOLE	0	0	0	491,710
NORDSTROM INC	CS	655664100	10,827	339,838	SH		SOLE	0	4,038	0	335,800
NTT DOCOMO, IN	CS	62942M201	235	10,088	SH		SOLE	0	10,088	0	0
NUVEEN KENTUCKY MUNICIPAL BOND	BOND FUND	67065R804	1,783	163,118	SH		SOLE	0	38,087	0	125,031
NVIDIA CORP	CS	67066g104	300	1,825	SH		SOLE	0	0	0	1,825
NVR INC	CS	62944T105	35,098	10,414	SH		SOLE	0	1,419	0	8,995
NXP SEMICONDUCTORS NV	CS	N6596X109	16,352	167,525	SH		SOLE	0	61,235	0	106,290
OMEGA HEALTHCARE INVS	CS	681936100	1,365	37,143	SH		SOLE	0	29,857	0	7,286
ON SEMICONDUCTOR CORP	CS	682189105	39,025	1,930,980	SH		SOLE	0	263,660	0	1,667,320
OPEN TEXT CORPORATION	CS	683715106	3,100	75,240	SH		SOLE	0	0	0	75,240
ORIX CORP ADR	CS	686330101	20,011	267,232	SH		SOLE	0	97,791	0	169,441
OSHKOSH CORPORATION	CS	688239201	33,561	401,973	SH		SOLE	0	54,804	0	347,169
PACWEST BANCORP	CS	695263103	1,254	32,283	SH		SOLE	0	26,210	0	6,073
PANASONIC CORPORATION	CS	69832A205	2,654	320,260	SH		SOLE	0	0	0	320,260
PHILIP MORRIS INTL INC COM	CS	718172109	1,787	22,752	SH		SOLE	0	18,509	0	4,243
PHILLIPS 66	CS	718546104	15,955	170,564	SH		SOLE	0	23,100	0	147,464
PING AN INSURANCE GROUP	CS	72341E304	13,942	580,172	SH		SOLE	0	212,452	0	367,720
PJSC GAZPROM ADR	CS	368287207	4,363	596,070	SH		SOLE	0	0	0	596,070
PJSC LUKOIL CO ADR	CS	69343P105	33,211	395,271	SH		SOLE	0	144,982	0	250,289
PLAINS ALL AMERICAN PIPELINE L	LTD PARTN	726503105	239	9,800	SH		SOLE	0	9,800	0	0
PROCTER & GAMBLE	CS	742718109	490	4,467	SH		SOLE	0	1,713	0	2,754
PROGRESSIVE CORP OHIO	CS	743315103	8,657	108,307	SH		SOLE	0	14,865	0	93,442
PUBLIC SVC ENTERPRISE	CS	744573106	329	5,599	SH		SOLE	0	0	0	5,599
PULTEGROUP INC.	CS	745867101	30,132	952,954	SH		SOLE	0	130,326	0	822,628
QBE INSURANCE GROUP	CS	74728G605	2,626	317,470	SH		SOLE	0	0	0	317,470
QORVO, INC	CS	74736K101	30,241	453,995	SH		SOLE	0	61,728	0	392,267
QUALCOMM INC	CS	747525103	20,116	264,443	SH		SOLE	0	3,143	0	261,300
RALPH LAUREN CORPORATION	CS	751212101	11,424	100,572	SH		SOLE	0	1,072	0	99,500
REGIONS FINANCIAL CORP	CS	7591EP100	15,903	1,064,487	SH		SOLE	0	11,287	0	1,053,200
RELX PLC	CS	759530108	316	12,957	SH		SOLE	0	12,957	0	0
REPSOL S.A.	CS	76026T205	30,378	1,947,283	SH		SOLE	0	692,814	0	1,254,469
RIO TINTO PLC ADR	CS	767204100	68,105	1,092,477	SH		SOLE	0	255,097	0	837,380
ROBERT HALF INTL	CS	770323103	13,195	231,453	SH		SOLE	0	2,753	0	228,700
ROSS STORES INC COM	CS	778296103	16,390	165,359	SH		SOLE	0	1,715	0	163,644
ROYAL DUTCH SHELL PLC	CS	780259206	80,812	1,241,940	SH		SOLE	0	308,255	0	933,685
RYANAIR HOLDINGS PLC ADR	CS	783513203	5,659	88,243	SH		SOLE	0	31,801	0	56,442
SBERBANK OF RUSSIA	CS	80585Y308	27,836	1,821,761	SH		SOLE	0	660,343	0	1,161,418
SEMPRA ENERGY	CS	816851109	14,715	107,070	SH		SOLE	0	14,715	0	92,355
SENSATA TECHNOLOGIES HOLDING P	CS	G8060N102	18,946	386,663	SH		SOLE	0	143,656	0	243,007
SHIONOGI & CO LTD UNSP	CS	824667109	11,404	799,696	SH		SOLE	0	211,140	0	588,556
SK TELECOM CO	CS	78440p108	3,001	121,240	SH		SOLE	0	0	0	121,240
SMITH & NEPHEW PLC ADR	CS	83175M205	263	6,038	SH		SOLE	0	6,038	0	0
SOFTBANK CORP UNSP ADR	CS	83404D109	17,352	362,022	SH		SOLE	0	135,302	0	226,720
SOUTHWEST AIRLINES	CS	844741108	22,149	436,183	SH		SOLE	0	58,223	0	377,960
STANDARD LIFE ABERDEEN	CS	853584100	3,062	206,460	SH		SOLE	0	0	0	206,460
STARBUCKS	CS	855244109	17,010	202,911	SH		SOLE	0	2,411	0	200,500
SUMITOMO MITSUI FINCL GR	CS	86562M209	14,336	2,030,741	SH		SOLE	0	732,807	0	1,297,934
SUN LIFE FINANCIAL	CS	866796105	18,432	445,634	SH		SOLE	0	177,793	0	267,841
SUNTRUST BANKS INC	CS	867914103	41,279	656,789	SH		SOLE	0	89,377	0	567,412
TAIWAN SEMICONDUCTOR MFG CO AD	CS	874039100	20,284	517,841	SH		SOLE	0	190,312	0	327,529
TAPESTRY	CS	876030107	1,084	34,157	SH		SOLE	0	27,223	0	6,934
TARGET CORP COM	CS	87612E106	16,256	187,690	SH		SOLE	0	1,990	0	185,700
TE CONNECTIVITY LTD.	CS	H84989104	39,534	412,762	SH		SOLE	0	57,092	0	355,670
TECHTRONIC INDUSTRIES CO	CS	87873R101	19,088	502,688	SH		SOLE	0	183,083	0	319,605
TEXAS ROADHOUSE	CS	882681109	2,461	45,850	SH		SOLE	0	45,850	0	0
TJX COMPANIES	CS	872540109	14,990	283,469	SH		SOLE	0	3,369	0	280,100
TODD IIV COLLECTIVE FUND	CS	41024C711	453	42,500	SH		SOLE	0	42,500	0	0
TOKYO ELECTRON LTD	CS	889110102	17,554	499,395	SH		SOLE	0	172,827	0	326,568
TOSHIBA CORP	CS	891493306	2,857	181,870	SH		SOLE	0	0	0	181,870
TOTAL SA	CS	89151E109	79,779	1,429,992	SH		SOLE	0	335,262	0	1,094,730
UBS GROUP AG	CS	H42097107	12,235	1,032,535	SH		SOLE	0	368,629	0	663,906
UNILEVER NV	CS	904784709	1,330	21,906	SH		SOLE	0	21,906	0	0
UNION PAC CORP COM	CS	907818108	29,599	175,027	SH		SOLE	0	24,246	0	150,781
UNITED HEALTHCARE CORP	CS	91324p102	30,300	124,177	SH		SOLE	0	16,876	0	107,301
UNITED RENTALS INC	CS	911363109	39,698	299,313	SH		SOLE	0	41,319	0	257,994
UNITED TECHNOLOGIES CORP COM	CS	913017109	19,208	147,527	SH		SOLE	0	20,881	0	126,646
VANGUARD BD INDEX FD INC	ST BOND FUND	921937827	622	7,722	SH		SOLE	0	7,722	0	0
VANGUARD S&P 500 ETF	ETF	922908363	1,685	6,260	SH		SOLE	0	6,260	0	0
VERIZON COMMUNICATIONS	CS	92343V104	26,049	455,973	SH		SOLE	0	71,854	0	384,119
VERMILION ENERGY INC	CS	923725105	597	27,481	SH		SOLE	0	22,267	0	5,214
WESTPAC BKG CORP	CS	961214301	1,062	53,287	SH		SOLE	0	40,546	0	12,741
WHIRLPOOL CORP	CS	963320106	16,151	113,450	SH		SOLE	0	1,350	0	112,100
WNS HOLDINGS LTD	CS	92932M101	13,635	230,331	SH		SOLE	0	84,236	0	146,095
XEROX CORP	CS	984121608	16,699	471,603	SH		SOLE	0	5,603	0	466,000
YANDEX N.V.	CS	N97284108	19,397	510,440	SH		SOLE	0	189,915	0	320,525
YY INC ADS	CS	98426T106	15,301	219,552	SH		SOLE	0	79,394	0	140,158
ZIONS BANCORPORATION	CS	989701107	24,797	539,299	SH		SOLE	0	73,868	0	465,431
ZTO EXPRESS INC	CS	98980A105	20,467	1,070,457	SH		SOLE	0	389,993	0	680,464