Meag Munich Ergo Kapitalanlagegesellschaft MBH 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
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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
SCHLUMBERGER LTD	COM	806857108	15,445	199,748	SH		SOLE		199,748	0	0
AGNICO EAGLE MINES LTD	COM	008474108	3,601	65,000	SH		SOLE		65,000	0	0
AGRIUM INC	COM	008916108	2,369	26,000	SH		SOLE		26,000	0	0
BCE INC	COM NEW	05534B760	7,451	160,000	SH		SOLE		160,000	0	0
BANK OF MONTREAL	COM	063671101	8,541	130,000	SH		SOLE		130,000	0	0
BANK OF NOVA SCOTIA	COM	064149107	12,250	227,000	SH		SOLE		227,000	0	0
BARRICK GOLD CORP	COM	067901108	3,873	215,000	SH		SOLE		215,000	0	0
BLACKBERRY LTD	COM	09228F103	678	85,000	SH		SOLE		85,000	0	0
BROOKFIELD ASSET MANAGE	CL A LTD VT SH	112585104	5,676	160,000	SH		SOLE		160,000	0	0
CAE INC	COM	124765108	1,142	80,000	SH		SOLE		80,000	0	0
CAN IMPERIAL BK OF COMMERCE	COM	136069101	5,791	75,000	SH		SOLE		75,000	0	0
CANADIAN NATL RAILWAY CO	COM	136375102	10,561	162,900	SH		SOLE		162,900	0	0
CANADIAN NATURAL RESOURCES	COM	136385101	7,727	240,000	SH		SOLE		240,000	0	0
CANADIAN PACIFIC RAILWAY LTD	COM	13645T100	4,085	27,000	SH		SOLE		27,000	0	0
CENOVUS ENERGY INC	COM	15135U109	2,586	180,000	SH		SOLE		180,000	0	0
CRESCENT POINT ENERGY	COM	22576C101	1,266	95,000	SH		SOLE		95,000	0	0
ELDORADO GOLD CORP NEW	COM	284902103	525	130,000	SH		SOLE		130,000	0	0
ENCANA CORP	COM	292505104	1,523	150,000	SH		SOLE		150,000	0	0
ENBRIDGE INC	COM	29250N105	7,563	171,500	SH		SOLE		171,500	0	0
FRANCO NEVADA CORP	COM	351858105	2,348	33,000	SH		SOLE		33,000	0	0
GILDAN ACTIVEWEAR INC	COM	375916103	1,117	40,000	SH		SOLE		40,000	0	0
GOLDCORP INC	COM	380956409	1,671	100,000	SH		SOLE		100,000	0	0
CGI GROUP INC	CL A SUB VTG	39945C109	2,636	55,000	SH		SOLE		55,000	0	0
KINROSS GOLD CORP	COM NO PAR	496902404	984	230,000	SH		SOLE		230,000	0	0
MAGNA INTERNATIONAL INC	COM	559222401	2,768	74,000	SH		SOLE		74,000	0	0
PEMBINA PIPELINE CORP	COM	706327103	2,312	75,000	SH		SOLE		75,000	0	0
POTASH CORP OF SASKATCHEWAN	COM	73755L107	815	50,000	SH		SOLE		50,000	0	0
RESTAURANT BRANDS INTL INC	COM	76131D103	1,771	40,000	SH		SOLE		40,000	0	0
ROGERS COMMUNICATIONS INC	CL B	775109200	2,998	70,000	SH		SOLE		70,000	0	0
ROYAL BANK OF CANADA	COM	780087102	17,626	284,000	SH		SOLE		284,000	0	0
SILVER WHEATON CORP	COM	828336107	2,279	82,000	SH		SOLE		82,000	0	0
SUNCOR ENERGY INC	COM	867224107	8,624	310,000	SH		SOLE	��	310,000	0	0
TECK RESOURCES LTD	CL B	878742204	1,691	90,000	SH		SOLE		90,000	0	0
TELUS CORP	COM	87971M103	2,811	85,000	SH		SOLE		85,000	0	0
THOMSON REUTERS CORP	COM	884903105	2,218	54,000	SH		SOLE		54,000	0	0
TORONTO-DOMINION BANK	COM NEW	891160509	16,618	373,200	SH		SOLE		373,200	0	0
TRANSCANADA CORP	COM	89353D107	8,370	175,000	SH		SOLE		175,000	0	0
VALEANT PHARMACEUTICALS INTL	COM	91911K102	1,385	55,000	SH		SOLE		55,000	0	0
WASTE CONNECTIONS INC	COM	94106B101	753	10,000	SH		SOLE		10,000	0	0
YAMANA GOLD INC	COM	98462Y100	805	180,000	SH		SOLE		180,000	0	0
LOGITECH INTL S A	SHS	H50430232	9,467	420,745	SH		SOLE		420,745	0	0
TRANSOCEAN LTD	REG SHS	H8817H100	4,353	409,222	SH		SOLE		409,222	0	0
UBS AG	SHS NEW	H42097107	28,810	2,137,277	SH		SOLE		2,137,277	0	0
GARMIN LTD	SHS	H2906T109	2,137	44,346	SH		SOLE		44,346	0	0
DEUTSCHE BANK AG-REGISTERED	NAMEN AKT	D18190898	70,473	5,766,397	SH		SOLE		5,766,397	0	0
COCA COLA EUROPEAN PARTNERS	SHS	G25839104	78	2,000	SH		SOLE		2,000	0	0
SEAGATE TECHNOLOGY PLC	SHS	G7945M107	16,120	426,246	SH		SOLE		426,246	0	0
INGERSOLL-RAND PLC	SHS	G47791101	329	4,900	SH		SOLE		4,900	0	0
MALLINCKRODT PUB LTD CO	SHS	G5785G107	3,788	54,860	SH		SOLE		54,860	0	0
ALLEGION PUB LTD CO	ORD SHS	G0176J109	3,638	53,251	SH		SOLE		53,251	0	0
MEDTRONIC PLC	SHS	G5960L103	12,404	145,136	SH		SOLE		145,136	0	0
ALLERGAN PLC	SHS	G0177J108	4,400	19,050	SH		SOLE		19,050	0	0
QIAGEN N.V.	REG SHS	N72482107	4,768	177,000	SH		SOLE		177,000	0	0
CNH INDUSTRIAL NV	SHS	N20944109	3,331	465,646	SH		SOLE		465,646	0	0
FIAT CHRYSLER AUTOMOBILES	SHS	N31738102	241	38,694	SH		SOLE		38,694	0	0
AT&T INC	COM	00206R102	8,318	204,067	SH		SOLE		204,067	0	0
AU OPTRONICS CORP. ADR/10	SPONSORED ADR	002255107	145	40,000	SH		SOLE		40,000	0	0
ABBOTT LABORATORIES	COM	002824100	564	13,600	SH		SOLE		13,600	0	0
ABBVIE INC	COM	00287Y109	32,297	513,737	SH		SOLE		513,737	0	0
AGILENT TECHNOLOGIES INC	COM	00846U101	3,838	82,626	SH		SOLE		82,626	0	0
ALCOA INC	COM	013817101	17,487	1,754,414	SH		SOLE		1,754,414	0	0
ALIBABA GROUP HLDG LTD	SPONSORED ADS	01609W102	8,820	83,500	SH		SOLE		83,500	0	0
ALPHABET INC	CAP STK CL C	02079K107	24,306	31,339	SH		SOLE		31,339	0	0
ALPHABET INC	CAP STK CL A	02079K305	15,325	19,079	SH		SOLE		19,079	0	0
ALTRIA GROUP INC	COM	02209S103	24,014	381,976	SH		SOLE		381,976	0	0
AMAZON.COM INC. DL-,01	COM	023135106	5,268	6,350	SH		SOLE		6,350	0	0
AMBEV SA	SPONSORED ADR	02319V103	1,928	319,444	SH		SOLE		319,444	0	0
AMERICAN AIRLS GROUP INC	COM	02376R102	7,299	203,602	SH		SOLE		203,602	0	0
AMERICAN ELECTRIC POWER	COM	025537101	8,378	129,794	SH		SOLE		129,794	0	0
AMGEN INC	COM	031162100	15,227	91,964	SH		SOLE		91,964	0	0
APPLE INC	COM	037833100	42,913	382,244	SH		SOLE		382,244	0	0
AUTODESK INC.	COM	052769106	107	1,500	SH		SOLE		1,500	0	0
AVALONBAY CMNTYS INC	COM	053484101	6,216	34,625	SH		SOLE		34,625	0	0
AVERY DENNISON CORP	COM	053611109	11,608	150,536	SH		SOLE		150,536	0	0
BAIDU INC	SPON ADR REP A	056752108	4,158	22,800	SH		SOLE		22,800	0	0
BAKER HUGHES INC	COM	057224107	201	4,000	SH		SOLE		4,000	0	0
BANCO BRADESCO S A	SP ADR PFD NEW	059460303	1,685	186,420	SH		SOLE		186,420	0	0
BANCO SANTANDER SA	ADR	05964H105	337	50,044	SH		SOLE		50,044	0	0
BANK OF AMERICA CORP	COM	060505104	7,715	508,501	SH		SOLE		508,501	0	0
BANK NEW YORK MELLON CORP	COM	064058100	391	10,000	SH		SOLE		10,000	0	0
BAXTER INTERNATIONAL INC	COM	071813109	25,343	539,731	SH		SOLE		539,731	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	10,879	75,706	SH		SOLE		75,706	0	0
BEST BUY CO INC	COM	086516101	15,928	425,451	SH		SOLE		425,451	0	0
BIOGEN IDEC INC.	COM	09062X103	857	2,800	SH		SOLE		2,800	0	0
BORGWARNER INC	COM	099724106	3,988	116,181	SH		SOLE		116,181	0	0
BOSTON PROPERTIES INC	COM	101121101	21,590	158,267	SH		SOLE		158,267	0	0
BRF SA	SPONSORED ADR	10552T107	1,392	82,966	SH		SOLE		82,966	0	0
CME GROUP INC	COM	12572Q105	19,098	182,237	SH		SOLE		182,237	0	0
CPFL ENERGIA S A	SPONSORED ADR	126153105	730	49,161	SH		SOLE		49,161	0	0
CSX CORP	COM	126408103	5,445	181,427	SH		SOLE		181,427	0	0
CA INC	COM	12673P105	296	9,000	SH		SOLE		9,000	0	0
CAMPBELL SOUP CO	COM	134429109	381	7,000	SH		SOLE		7,000	0	0
CATERPILLAR INC	COM	149123101	210	2,400	SH		SOLE		2,400	0	0
CENTERPOINT ENERGY INC	COM	15189T107	3,803	161,157	SH		SOLE		161,157	0	0
CENTURYLINK INC	COM	156700106	9,005	326,961	SH		SOLE		326,961	0	0
CHEVRON CORP NEW	COM	166764100	9,213	90,905	SH		SOLE		90,905	0	0
CISCO SYSTEMS INC	COM	17275R102	25,457	810,373	SH		SOLE		810,373	0	0
CINTAS CORP	COM	172908105	4,005	35,936	SH		SOLE		35,936	0	0
CITIGROUP INC	COM NEW	172967424	9,120	198,982	SH		SOLE		198,982	0	0
CITIZENS FINL GROUP INC	COM	174610105	7,791	323,685	SH		SOLE		323,685	0	0
CITRIX SYS INC	COM	177376100	3,676	43,250	SH		SOLE		43,250	0	0
CLOROX CO DEL	COM	189054109	12,689	101,712	SH		SOLE		101,712	0	0
COLGATE-PALMOLIVE CO	COM	194162103	33,649	458,779	SH		SOLE		458,779	0	0
COMCAST CORP NEW	CL A	20030N101	12,510	188,683	SH		SOLE		188,683	0	0
CIA EN.GER.ADR PFD NV 1	SPONS ADR	204409601	731	275,601	SH		SOLE		275,601	0	0
COMPANHIA BRASILEIRA DE DIST	SPN ADR PFD CL A	20440T201	546	33,331	SH		SOLE		33,331	0	0
COMPANHIA SIDERURGICA NACION	SPONSORED ADR	20440W105	428	155,445	SH		SOLE		155,445	0	0
CIA SANEAMENTO BASICO DE	SPONSORED ADR	20441A102	564	60,221	SH		SOLE		60,221	0	0
COMPANHIA PARANAENSE ENERG C	SPON ADR PFD	20441B407	345	32,550	SH		SOLE		32,550	0	0
CONSOLIDATED EDISON INC	COM	209115104	3,533	46,132	SH		SOLE		46,132	0	0
CORNING INC	COM	219350105	4,084	173,487	SH		SOLE		173,487	0	0
CTRIP COM INTL LTD	AMERICAN DEP SHS	22943F100	1,503	32,100	SH		SOLE		32,100	0	0
DTE ENERGY CO	COM	233331107	21,932	235,527	SH		SOLE		235,527	0	0
DAVITA HEALTHCARE PARTNERS	COM	23918K108	131	2,000	SH		SOLE		2,000	0	0
DIAMOND OFFSHORE DRILLING	COM	25271C102	3,530	197,947	SH		SOLE		197,947	0	0
DIGITAL RLTY TR INC	COM	253868103	4,072	41,516	SH		SOLE		41,516	0	0
DISCOVERY COMMUNICATNS NEW	COM SER A	25470F104	4,122	153,642	SH		SOLE		153,642	0	0
DISCOVERY COMMUNICATNS NEW	COM SER C	25470F302	5,810	222,537	SH		SOLE		222,537	0	0
DOLLAR GEN CORP NEW	COM	256677105	10,115	145,802	SH		SOLE		145,802	0	0
DOLLAR TREE INC	COM	256746108	12,656	163,472	SH		SOLE		163,472	0	0
DOUGLAS EMMETT DL -,01	COM	25960P109	7,390	201,660	SH		SOLE		201,660	0	0
DOW CHEM CO	COM	260543103	595	11,500	SH		SOLE		11,500	0	0
DUKE ENERGY CORP NEW	COM NEW	26441C204	3,318	41,286	SH		SOLE		41,286	0	0
E TRADE FINANCIAL CORP	COM NEW	269246401	4,372	153,703	SH		SOLE		153,703	0	0
EBAY INC	COM	278642103	15,662	484,539	SH		SOLE		484,539	0	0
ECOPETROL SA	SPONSORED ADS	279158109	17	2,000	SH		SOLE		2,000	0	0
EDWARDS LIFESCIENCES CORP	COM	28176E108	12,889	107,996	SH		SOLE		107,996	0	0
EMBRAER S A	SP ADR REP 4 COM	29082A107	448	25,711	SH		SOLE		25,711	0	0
EQUIFAX INC. DL 1,25	COM	294429105	5,016	37,590	SH		SOLE		37,590	0	0
EQUITY RESIDENTIAL	SH BEN INT	29476L107	4,481	69,500	SH		SOLE		69,500	0	0
ESSEX PPTY TR INC	COM	297178105	8,869	39,280	SH		SOLE		39,280	0	0
EXELON CORP.	COM	30161N101	16,650	499,782	SH		SOLE		499,782	0	0
EXPRESS SCRIPTS HLDG CO	COM	30219G108	11,511	164,695	SH		SOLE		164,695	0	0
EXXON MOBIL CORP. O.N.	COM	30231G102	11,874	137,235	SH		SOLE		137,235	0	0
FACEBOOK INC	CL A	30303M102	34,886	272,149	SH		SOLE		272,149	0	0
FIBRIA CELULOSE S A	SP ADR REP COM	31573A109	327	46,594	SH		SOLE		46,594	0	0
FIFTH THIRD BANCORP	COM	316773100	4,114	203,102	SH		SOLE		203,102	0	0
58 COM INC	SPON ADR REP A	31680Q104	133	2,800	SH		SOLE		2,800	0	0
FIRST SOLAR INC	COM	336433107	4,441	113,549	SH		SOLE		113,549	0	0
FORTUNE BRANDS HOME & SEC IN	COM	34964C106	3,531	60,927	SH		SOLE		60,927	0	0
GAP INC.	COM	364760108	3,593	165,472	SH		SOLE		165,472	0	0
Genl Dynamics Corp. Dl 1	COM	369550108	23,329	149,805	SH		SOLE		149,805	0	0
Genl El. Co. Dl -,06	COM	369604103	15,395	520,956	SH		SOLE		520,956	0	0
GENERAL MLS INC	COM	370334104	21,351	335,136	SH		SOLE		335,136	0	0
GENERAL MTRS CO	COM	37045V100	4,239	134,555	SH		SOLE		134,555	0	0
GERDAU S A	SPON ADR REP PFD	373737105	542	198,367	SH		SOLE		198,367	0	0
GILEAD SCIENCES INC	COM	375558103	4,725	60,634	SH		SOLE		60,634	0	0
GOLDMAN SACHS GROUP INC	COM	38141G104	3,861	24,273	SH		SOLE		24,273	0	0
GOODYEAR TIRE & RUBR CO	COM	382550101	4,270	134,457	SH		SOLE		134,457	0	0
HCP INC	COM	40414L109	9,159	237,470	SH		SOLE		237,470	0	0
HP INC	COM	40434L105	25,162	1,633,714	SH		SOLE		1,633,714	0	0
HALLIBURTON CO	COM	406216101	309	7,000	SH		SOLE		7,000	0	0
HELMERICH & PAYNE INC	COM	423452101	4,740	72,573	SH		SOLE		72,573	0	0
HERSHEY CO/THE	COM	427866108	303	3,200	SH		SOLE		3,200	0	0
HEWLETT-PACKARD CO	COM	428236103	4,597	200,591	SH		SOLE		200,591	0	0
HOLOGIC INC	COM	436440101	6,371	166,921	SH		SOLE		166,921	0	0
HOME DEPOT INC	COM	437076102	7,289	56,933	SH		SOLE		56,933	0	0
HONEYWELL INTL INC	COM	438516106	7,385	63,513	SH		SOLE		63,513	0	0
HUMANA INC	COM	444859102	598	3,400	SH		SOLE		3,400	0	0
ILLINOIS TOOL WKS INC	COM	452308109	17,908	150,320	SH		SOLE		150,320	0	0
INTEL CORP	COM	458140100	38,537	1,031,841	SH		SOLE		1,031,841	0	0
INTL BUSINESS MACHINES CORP	COM	459200101	14,794	93,500	SH		SOLE		93,500	0	0
INTL PAPER CO	COM	460146103	3,985	84,149	SH		SOLE		84,149	0	0
ITAU UNIBANCO HLDNG	SPON ADR REP PFD	465562106	2,386	218,147	SH		SOLE		218,147	0	0
JPMORGAN CHASE & CO	COM	46625H100	10,888	165,717	SH		SOLE		165,717	0	0
JACOBS ENGR GROUP INC DEL	COM	469814107	3,745	72,027	SH		SOLE		72,027	0	0
JD COM INC	SPON ADR CL A	47215P106	1,326	51,000	SH		SOLE		51,000	0	0
JOHNSON & JOHNSON	COM	478160104	55,995	477,126	SH		SOLE		477,126	0	0
KANSAS CITY SOUTHERN	COM NEW	485170302	3,719	40,109	SH		SOLE		40,109	0	0
KILROY REALTY CORP.DL-,01	COM	49427F108	8,646	126,000	SH		SOLE		126,000	0	0
KIMCO RLTY CORP	COM	49446R109	3,522	120,089	SH		SOLE		120,089	0	0
KINDER MORGAN INC DEL	COM	49456B101	5,039	221,217	SH		SOLE		221,217	0	0
KOHLS CORP	COM	500255104	3,970	92,687	SH		SOLE		92,687	0	0
LEUCADIA NATL CORP NATL DL 1	COM	527288104	3,959	211,110	SH		SOLE		211,110	0	0
LILLY ELI & CO	COM	532457108	10,515	131,767	SH		SOLE		131,767	0	0
MACYS INC	COM	55616P104	3,881	107,588	SH		SOLE		107,588	0	0
MARATHON OIL CORP	COM	565849106	5,246	329,718	SH		SOLE		329,718	0	0
MASCO CORP	COM	574599106	2,262	66,044	SH		SOLE		66,044	0	0
MASTERCARD INC	CL A	57636Q104	25,980	258,030	SH		SOLE		258,030	0	0
MCKESSON CORP	COM	58155Q103	8,558	52,010	SH		SOLE		52,010	0	0
MELCO CROWN ENTMT LTD	ADR	585464100	1,283	80,000	SH		SOLE		80,000	0	0
MERCK & CO. INC.	COM	58933Y105	4,580	73,930	SH		SOLE		73,930	0	0
MICROSOFT CORP	COM	594918104	39,498	687,603	SH		SOLE		687,603	0	0
MICRON TECHNOLOGY INC	COM	595112103	6,361	362,388	SH		SOLE		362,388	0	0
MOBILE TELESYSTEMS OJSC	SPONSORED ADR	607409109	750	97,000	SH		SOLE		97,000	0	0
MONDELEZ INTERNATIONAL INC	CL A	609207105	4,237	98,151	SH		SOLE		98,151	0	0
MORGAN STANLEY	COM NEW	617446448	15,681	504,798	SH		SOLE		504,798	0	0
MURPHY OIL CORP	COM	626717102	4,977	163,957	SH		SOLE		163,957	0	0
NATIONAL OILWELL VARCO INC	COM	637071101	5,128	139,022	SH		SOLE		139,022	0	0
NATIONAL RETAIL PPTYS	COM	637417106	1,469	28,600	SH		SOLE		28,600	0	0
NAVIENT CORP	COM	63938C108	3,888	271,470	SH		SOLE		271,470	0	0
NETEASE INC	SPONSORED ADR	64110W102	1,308	5,400	SH		SOLE		5,400	0	0
NEW ORIENTAL ED & TECH GRP	SPON ADR	647581107	648	13,800	SH		SOLE		13,800	0	0
NEWMONT MINING CORP	COM	651639106	5,992	153,319	SH		SOLE		153,319	0	0
NEWS CORP NEW	CL A	65249B109	4,131	297,214	SH		SOLE		297,214	0	0
NEWS CORP NEW	CL B	65249B208	4,056	286,821	SH		SOLE		286,821	0	0
NOBLE ENERGY INC	COM	655044105	12,478	350,737	SH		SOLE		350,737	0	0
ONEOK PARTNERS LP	UNIT LTD PARTN	68268N103	5,119	100,410	SH		SOLE		100,410	0	0
OWENS CORNING	COM	690742101	133	2,500	SH		SOLE		2,500	0	0
PACCAR INC	COM	693718108	3,787	65,370	SH		SOLE		65,370	0	0
PARAMOUNT GROUP INC	COM	69924R108	9,727	587,635	SH		SOLE		587,635	0	0
PEPSICO INC	COM	713448108	19,146	177,535	SH		SOLE		177,535	0	0
PETROLEO BRASILEIRO SA PETRO	SP ADR NON VTG	71654V101	387	47,000	SH		SOLE		47,000	0	0
PETROLEO BRASILEIRO SA PETRO	SPONSORED ADR	71654V408	1,903	205,170	SH		SOLE		205,170	0	0
PFIZER INC	COM	717081103	6,219	186,515	SH		SOLE		186,515	0	0
PHILIP MORRIS INTL INC	COM	718172109	3,292	33,643	SH		SOLE		33,643	0	0
PINNACLE WEST CAP CORP	COM	723484101	6,101	79,424	SH		SOLE		79,424	0	0
PITNEY BOWES INC	COM	724479100	3,592	199,631	SH		SOLE		199,631	0	0
PRAXAIR INC. DL-,01	COM	74005P104	737	6,200	SH		SOLE		6,200	0	0
PROCTER & GAMBLE CO/THE	COM	742718109	15,752	352,804	SH		SOLE		352,804	0	0
PROLOGIS INC	COM	74340W103	21,019	390,467	SH		SOLE		390,467	0	0
PUBLIC SVC ENTERPRISE GROUP	COM	744573106	16,771	397,971	SH		SOLE		397,971	0	0
PULTE GROUP INC	COM	745867101	6,465	326,093	SH		SOLE		326,093	0	0
QUALCOMM INC	COM	747525103	4,331	64,166	SH		SOLE		64,166	0	0
QUEST DIAGNOSTICS INC	COM	74834L100	3,899	46,637	SH		SOLE		46,637	0	0
REPUBLIC SVCS INC	COM	760759100	3,919	78,202	SH		SOLE		78,202	0	0
ROPER INDUSTRIES INC	COM	776696106	12,701	70,000	SH		SOLE		70,000	0	0
S&P GLOBAL INC	COM	78409V104	19,241	153,785	SH		SOLE		153,785	0	0
SL GREEN REALTY DL-,01	COM	78440X101	5,778	53,500	SH		SOLE		53,500	0	0
SIMON PPTY GROUP INC	COM	828806109	8,602	41,408	SH		SOLE		41,408	0	0
SMUCKER J M CO	COM NEW	832696405	2,951	21,880	SH		SOLE		21,880	0	0
Southw. Airl. Co. Dl 1	COM	844741108	4,075	308,460	SH		SOLE		308,460	0	0
STANLEY BLACK & DECKER INC	COM	854502101	12,219	100,305	SH		SOLE		100,305	0	0
STAPLES INC	COM	855030102	4,747	568,765	SH		SOLE		568,765	0	0
STATE STR CORP	COM	857477103	8,716	126,972	SH		SOLE		126,972	0	0
SUNTRUST BKS INC	COM	867914103	13,774	318,979	SH		SOLE		318,979	0	0
SYMANTEC CORP	COM	871503108	75	3,000	SH		SOLE		3,000	0	0
SYSCO CORP	COM	871829107	3,652	74,433	SH		SOLE		74,433	0	0
TAUBMAN CTRS INC	COM	876664103	8,405	112,200	SH		SOLE		112,200	0	0
TELEFONICA BRASIL SA	SPONSORED ADR	87936R106	843	58,046	SH		SOLE		58,046	0	0
TEXAS INSTRS INC	COM	882508104	2,414	34,542	SH		SOLE		34,542	0	0
3M CO	COM	88579Y101	263	1,500	SH		SOLE		1,500	0	0
TIM TIM PARTICIPACOES S A PFD ADR/5 ON	SPONSORED ADR	88706P205	438	35,812	SH		SOLE		35,812	0	0
TIME WARNER INC	COM NEW	887317303	24,398	310,133	SH		SOLE		310,133	0	0
TYSON FOODS INC	CL A	902494103	15,362	205,139	SH		SOLE		205,139	0	0
ULTA SALON COSMETCS & FRAG I	COM	90384S303	5,691	23,981	SH		SOLE		23,981	0	0
ULTRAPAR PARTICIPACOES S A	SP ADR REP COM	90400P101	966	44,545	SH		SOLE		44,545	0	0
UNITED CONTL HLDGS INC	COM	910047109	8,941	174,698	SH		SOLE		174,698	0	0
UTD MICROELECTR.ADR NEW/5	SPON ADR NEW	910873405	148	80,000	SH		SOLE		80,000	0	0
UNITED PARCEL SERVICE	CL B	911312106	13,651	126,053	SH		SOLE		126,053	0	0
UNITED RENTALS INC	COM	911363109	7,547	98,787	SH		SOLE		98,787	0	0
UNITED TECHNOLOGIES CORP	COM	913017109	6,187	61,174	SH		SOLE		61,174	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	15,899	114,856	SH		SOLE		114,856	0	0
VALE S A	ADR	91912E105	1,343	242,610	SH		SOLE		242,610	0	0
VARIAN MED SYS INC	COM	92220P105	2,508	25,431	SH		SOLE		25,431	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	26,157	501,483	SH		SOLE		501,483	0	0
VIPSHOP HLDGS LTD	SPONSORED ADR	92763W103	288	19,400	SH		SOLE		19,400	0	0
VISA INC-CLASS A SHARES	COM CL A	92826C839	8,942	109,069	SH		SOLE		109,069	0	0
WAL-MART STORES INC	COM	931142103	40,198	567,903	SH		SOLE		567,903	0	0
WASTE MGMT INC DEL	COM	94106L109	7,238	114,315	SH		SOLE		114,315	0	0
WATERS CORP	COM	941848103	12,017	76,808	SH		SOLE		76,808	0	0
WELLS FARGO & CO NEW	COM	949746101	11,300	254,473	SH		SOLE		254,473	0	0
WEYERHAEUSER CO	COM	962166104	255	8,000	SH		SOLE		8,000	0	0
WHOLE FOODS MKT INC	COM	966837106	196	7,000	SH		SOLE		7,000	0	0
XEROX CORP	COM	984121103	3,813	374,259	SH		SOLE		374,259	0	0
ZIONS BANCORPORATION	COM	989701107	8,974	293,816	SH		SOLE		293,816	0	0
MICHAEL KORS HLDGS LTD	SHS	G60754101	7,866	167,700	SH		SOLE		167,700	0	0