Thornburg Investment 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
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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
ACERINOX SA-UNSPON ADR	ADR	00444E103	12,249	1,773,901	SH		SOLE		1,636,767	0	137,134
ACTIVISION BLIZZARD INC	COM	00507V109	40,933	606,772	SH		SOLE		581,214	0	25,558
ACUSHNET HOLDINGS CORP	COM	005098108	22,556	976,890	SH		SOLE		927,713	0	49,177
ADIDAS AG-SPONSORED ADR	ADR	00687A107	18,430	151,352	SH		SOLE		149,496	0	1,856
ADIENT PLC	COM	G0084W101	3,939	65,907	SH		SOLE		65,907	0	0
ADT INC	COM	00090Q103	34,375	4,334,769	SH		SOLE		4,129,885	0	204,884
AFFILIATED MANAGERS GROUP	COM	008252108	14,732	77,711	SH		SOLE		77,711	0	0
AGRIBANK FCB	PFD	00850L203	4,322	40,000	SH		SOLE		40,000	0	0
AKORN INC	COM	009728106	5,758	307,744	SH		SOLE		292,028	0	15,716
ALEXION PHARMACEUTICALS INC	COM	015351109	13,060	117,174	SH		SOLE		117,174	0	0
ALIBABA GROUP HOLDING-SP ADR	ADR	01609W102	167,602	913,163	SH		SOLE		904,128	0	9,035
ALKERMES PLC	COM	G01767105	181,168	3,125,741	SH		SOLE		3,066,701	0	59,040
ALPHABET INC-CL A	COM	02079K305	201,199	193,994	SH		SOLE		193,994	0	0
ALPHABET INC-CL C	COM	02079K107	89,315	86,563	SH		SOLE		83,222	0	3,341
ALSEA SAB DE CV	COM	P0212A104	6,906	1,976,929	SH		SOLE		1,952,763	0	24,166
ALTICE USA INC- A	COM	02156K103	36,989	2,001,544	SH		SOLE		2,001,544	0	0
AMAZON.COM INC	COM	023135106	24,380	16,845	SH		SOLE		16,845	0	0
AMS AG - UNSPON ADR	ADR	03217C106	23,302	441,909	SH		SOLE		408,140	0	33,769
ANHEUSER-BUSCH INBEV-SPN ADR	ADR	03524A108	168	1,528	SH		SOLE		1,528	0	0
APOLLO GLOBAL MANAGEMENT - A	COM	037612306	23,540	794,725	SH		SOLE		751,998	0	42,727
APOLLO INVESTMENT CORP	COM	03761U106	127,351	24,396,697	SH		SOLE		24,396,697	0	0
APPLE INC	COM	037833100	56,122	334,495	SH		SOLE		321,225	0	13,270
ARAMARK	COM	03852U106	24,985	631,567	SH		SOLE		600,808	0	30,759
ARES CAPITAL CORP	COM	04010L103	240,465	15,152,160	SH		SOLE		15,152,160	0	0
ARRIS INTERNATIONAL PLC	COM	G0551A103	31,678	1,192,255	SH		SOLE		1,136,040	0	56,215
ASOS PLC-UNSP ADR	ADR	00212V105	12,862	130,754	SH		SOLE		129,156	0	1,598
ASSURED GUARANTY LTD	COM	G0585R106	64,829	1,790,850	SH		SOLE		1,707,896	0	82,954
ASTRAZENECA PLC-SPONS ADR	ADR	046353108	15,150	433,223	SH		SOLE		427,731	0	5,492
AT&T INC	COM	00206R102	319,140	8,952,029	SH		SOLE		8,952,029	0	0
AUTO TRADER GROUP-UNSP ADR	ADR	05277E104	16,263	12,906,993	SH		SOLE		12,750,126	0	156,867
B&M EUROPEAN VALUE-UNSP ADR	ADR	05590Y100	13,608	603,449	SH		SOLE		595,947	0	7,502
BAIDU INC - SPON ADR	ADR	056752108	210,076	941,245	SH		SOLE		940,592	0	653
BAKER HUGHES A GE CO	COM	05722G100	54	1,949	SH		SOLE		1,949	0	0
BANK OF N.T. BUTTERFIELD&SON	COM	G0772R208	2,329	51,893	SH		SOLE		51,893	0	0
BARCLAYS PLC-SPONS ADR	ADR	06738E204	34,522	2,920,601	SH		SOLE		2,695,890	0	224,711
BAYER AG-SPONSORED ADR	ADR	072730302	18,947	670,565	SH		SOLE		662,247	0	8,318
BBVA BANCO FRANCES SA-ADR	ADR	07329M100	17,398	762,745	SH		SOLE		762,745	0	0
BOOKING HOLDINGS INC	COM	09857L108	35,475	17,052	SH		SOLE		17,052	0	0
BOOZT AB-UNSPONSORED ADR	ADR	054781109	6,576	722,674	SH		SOLE		713,852	0	8,822
BRF SA-ADR	ADR	10552T107	10	1,474	SH		SOLE		1,474	0	0
BRILLIANCE CHINA AUTOMOT-ADR	ADR	10949Q204	22,635	1,089,783	SH		SOLE		1,004,088	0	85,695
BRITISH AMERICAN TOB-SP ADR	ADR	110448107	177,714	3,080,502	SH		SOLE		3,048,687	0	31,815
CALLAWAY GOLF COMPANY	COM	131193104	23,796	1,454,518	SH		SOLE		1,395,594	0	58,924
CANADIAN PACIFIC RAILWAY LTD	COM	13645T100	224,618	1,272,625	SH		SOLE		1,261,504	0	11,121
CAPITAL ONE FINANCIAL CORP	COM	14040H105	134,368	1,402,295	SH		SOLE		1,402,295	0	0
CARMAX INC	COM	143130102	5,977	96,492	SH		SOLE		93,584	0	2,908
CARS.COM INC	COM	14575E105	6,690	236,129	SH		SOLE		236,129	0	0
CARSALES.COM LTD-UNSP ADR	ADR	14575D107	11,717	555,325	SH		SOLE		548,562	0	6,763
CASA SYSTEMS INC	COM	14713L102	2,730	93,031	SH		SOLE		76,981	0	16,050
CBRE GROUP INC - A	COM	12504L109	13,563	287,230	SH		SOLE		274,796	0	12,434
CENTAUR FUNDING CORP	PFD	151327202	19,552	17,380	SH		SOLE		17,380	0	0
CENTURYLINK INC	COM	156700106	77,289	4,704,133	SH		SOLE		4,704,133	0	0
CF INDUSTRIES HOLDINGS INC	COM	125269100	128,196	3,397,713	SH		SOLE		3,397,713	0	0
CHIMERA INVESTMENT CORP	COM	16934Q208	117,517	6,750,000	SH		SOLE		6,750,000	0	0
CHINA MOBILE LTD-SPON ADR	ADR	16941M109	12,615	275,746	SH		SOLE		224,158	0	51,588
CHINA PETROLEUM & CHEM-ADR	ADR	16941R108	37,765	426,815	SH		SOLE		393,852	0	32,963
CHINA UNICOM HONG KONG-ADR	ADR	16945R104	34,429	2,683,489	SH		SOLE		2,473,804	0	209,685
CIELO SA-SPONSORED ADR	ADR	171778202	21,712	3,490,703	SH		SOLE		3,336,360	0	154,343
CITIGROUP INC	COM	172967424	209,073	3,097,378	SH		SOLE		3,060,461	0	36,917
CITIZENS FINANCIAL GROUP	COM	174610105	20,901	497,889	SH		SOLE		477,906	0	19,983
CME GROUP INC	COM	12572Q105	618,239	3,822,427	SH		SOLE		3,822,427	0	0
COBANK ACB	PFD	19075Q805	5,300	50,000	SH		SOLE		50,000	0	0
COGNIZANT TECH SOLUTIONS-A	COM	192446102	24,543	304,877	SH		SOLE		293,420	0	11,457
COLONY NORTHSTAR INC-CLASS A	COM	19625W104	49,045	8,726,851	SH		SOLE		8,726,851	0	0
COLOPLAST AS- UNSPON ADR	ADR	19624Y101	7,141	845,591	SH		SOLE		835,437	0	10,154
COMCAST CORP-CLASS A	COM	20030N101	17,418	509,733	SH		SOLE		509,733	0	0
COMMERZBANK AG-SPONS ADR	ADR	202597605	37,470	2,878,953	SH		SOLE		2,658,875	0	220,078
COMPAGNIE DE SAINT-UNSP ADR	ADR	204280309	28,555	2,707,896	SH		SOLE		2,503,762	0	204,134
CONCHO RESOURCES INC	COM	20605P101	11,905	79,193	SH		SOLE		79,193	0	0
CREDIT SUISSE GROUP-SPON ADR	ADR	225401108	38,807	2,311,308	SH		SOLE		2,134,405	0	176,903
CRESTWOOD EQUITY PARTNER	PFD	226344307	23,604	2,487,250	SH		SOLE		2,487,250	0	0
CRITEO SA-SPON ADR	ADR	226718104	27,504	1,064,395	SH		SOLE		1,061,745	0	2,650
CROWN CASTLE INTL CORP	COM	22822V101	219,106	1,998,964	SH		SOLE		1,998,964	0	0
CTRIP.COM INTERNATIONAL-ADR	ADR	22943F100	124,103	2,662,018	SH		SOLE		2,603,091	0	58,927
DAIKIN INDUSTRIES-UNSPON ADR	ADR	23381B106	26,947	2,435,341	SH		SOLE		2,248,024	0	187,317
DANONE-SPONS ADR	ADR	23636T100	41,018	2,522,638	SH		SOLE		2,379,313	0	143,325
DAVITA INC	COM	23918K108	11,825	179,331	SH		SOLE		179,331	0	0
DELPHI TECHNOLOGIES PLC	COM	G2709G107	5,770	121,093	SH		SOLE		121,093	0	0
DEUTSCHE TELEKOM AG-SPON ADR	ADR	251566105	5	318	SH		SOLE		318	0	0
DEVON ENERGY CORP	COM	25179M103	43,963	1,382,933	SH		SOLE		1,321,369	0	61,564
DEXCOM INC	COM	252131107	14,358	193,614	SH		SOLE		193,614	0	0
DOMINO'S PIZZA E-UNSPON ADR	ADR	25754L108	3,345	211,019	SH		SOLE		208,441	0	2,578
DOMINOS PIZZA UK & IRL-ADR	ADR	25754W104	23,169	2,400,889	SH		SOLE		2,234,983	0	165,906
DROPBOX INC-CLASS A	COM	26210C104	429	13,734	SH		SOLE		13,734	0	0
ECHOSTAR CORP-A	COM	278768106	107,569	2,038,442	SH		SOLE		2,022,597	0	15,845
EDENRED SA-UNSP ADR	ADR	279655104	16,586	947,787	SH		SOLE		936,227	0	11,560
EDF-UNSPON ADR	ADR	285039103	46,951	16,445,139	SH		SOLE		15,212,346	0	1,232,793
ENTERPRISE PRODUCTS PARTNERS	COM	293792107	40,775	1,665,629	SH		SOLE		1,564,256	0	101,373
EQUINIX INC	COM	29444U700	1,808	4,325	SH		SOLE		4,325	0	0
ESSILOR INTL-UNSPON ADR	ADR	297284200	10,590	156,654	SH		SOLE		154,744	0	1,910
EVOLENT HEALTH INC - A	COM	30050B101	26,403	1,852,826	SH		SOLE		1,766,205	0	86,621
EVOLUTION GAMING GROUP-ADR	ADR	30051E104	5,225	188,966	SH		SOLE		186,677	0	2,289
EXPEDIA GROUP INC	COM	30212P303	38,716	350,661	SH		SOLE		337,084	0	13,577
FACEBOOK INC-A	COM	30303M102	225,941	1,413,987	SH		SOLE		1,400,417	0	13,570
FARM CREDIT BANK/TEXAS	PFD	30767E307	11,750	10,000	SH		SOLE		10,000	0	0
FERROVIAL SA-UNSPONSORED ADR	ADR	315437103	30,555	1,465,120	SH		SOLE		1,352,859	0	112,261
FIRST QUANTUM MINERALS LTD	COM	335934105	10,928	778,325	SH		SOLE		778,325	0	0
FIRST TENNESSEE BANK	PFD	337158208	9,360	12,000	SH		SOLE		12,000	0	0
FLEETCOR TECHNOLOGIES INC	COM	339041105	22,286	110,056	SH		SOLE		110,056	0	0
FOMENTO ECONOMICO MEX-SP ADR	ADR	344419106	47,743	522,181	SH		SOLE		520,198	0	1,983
FORTIS INC	COM	349553107	22,201	657,423	SH		SOLE		624,822	0	32,601
FOUR SEASONS EDUCATION CAYMA	ADR	35101A101	935	141,005	SH		SOLE		141,005	0	0
FRESENIUS MEDICAL CARE-ADR	ADR	358029106	18,302	358,302	SH		SOLE		353,912	0	4,390
FRESENIUS SE & CO-SPN ADR	ADR	35804M105	25,543	1,331,057	SH		SOLE		1,226,639	0	104,418
GALAXY ENTERTAINMENT GROUP L	COM	Y2679D118	21,926	2,415,238	SH		SOLE		2,385,791	0	29,447
GENERAL ELECTRIC CO	COM	369604103	25,634	1,901,662	SH		SOLE		1,830,055	0	71,607
GILEAD SCIENCES INC	COM	375558103	88,393	1,172,470	SH		SOLE		1,121,017	0	51,453
GLOBALSTAR INC	COM	378973408	284	412,447	SH		SOLE		412,447	0	0
GLOBANT SA	COM	L44385109	10,041	194,827	SH		SOLE		194,827	0	0
GRANITE POINT MORTGAGE TRUST	COM	38741L107	23,453	1,417,964	SH		SOLE		1,417,964	0	0
GREENTREE HOSPITALITY GR-ADR	ADR	39579V100	956	75,000	SH		SOLE		75,000	0	0
GRIFOLS SA-ADR	ADR	398438408	10,787	508,844	SH		SOLE		502,615	0	6,229
HALLIBURTON CO	COM	406216101	244,034	5,198,844	SH		SOLE		5,134,811	0	64,033
HARGREAVES LANSDOWN PLC	COM	G43940108	8,664	378,502	SH		SOLE		373,874	0	4,628
HDFC BANK LTD-ADR	ADR	40415F101	12,910	130,711	SH		SOLE		130,711	0	0
HOME DEPOT INC	COM	437076102	331,042	1,857,281	SH		SOLE		1,857,281	0	0
HP INC	COM	40434L105	35,227	1,607,068	SH		SOLE		1,521,191	0	85,877
IBERDROLA SA-SPONSORED ADR	ADR	450737101	25,170	853,502	SH		SOLE		789,589	0	63,913
ICICI BANK LTD-SPON ADR	ADR	45104G104	35,133	3,969,841	SH		SOLE		3,969,841	0	0
INDITEX-UNSPON ADR	ADR	455793109	11,124	708,779	SH		SOLE		654,195	0	54,584
INFINEON TECHNOLOGIES-ADR	ADR	45662N103	38,507	1,426,961	SH		SOLE		1,317,423	0	109,538
ING GROEP N.V.-SPONSORED ADR	ADR	456837103	9,056	534,894	SH		SOLE		528,284	0	6,610
INOGEN INC	COM	45780L104	6,641	54,062	SH		SOLE		54,062	0	0
IQIYI INC-ADR	ADR	46267X108	43,157	2,775,350	SH		SOLE		2,775,350	0	0
ISHARES MSCI EAFE ETF	ETF	464287465	63	902	SH		SOLE		506	0	396
ITAU UNIBANCO H-SPON PRF ADR	ADR	465562106	27,987	1,794,061	SH		SOLE		1,794,061	0	0
ITT INC	COM	45073V108	21,651	442,034	SH		SOLE		422,924	0	19,110
JAPAN EXCHANGE GROUP INC-ADR	ADR	471059105	13,415	1,428,607	SH		SOLE		1,411,065	0	17,542
JPMORGAN CHASE & CO	COM	46625H100	568,208	5,166,935	SH		SOLE		5,130,866	0	36,069
JUST EAT PLC - UNSP ADR	ADR	48213U105	13,205	2,641,018	SH		SOLE		2,610,003	0	31,015
KERRY GROUP PLC-SPONS ADR	ADR	492460100	13,964	139,445	SH		SOLE		137,787	0	1,658
KINGFISHER PLC-SPONS ADR	ADR	495724403	23,156	2,779,885	SH		SOLE		2,564,845	0	215,040
KOREA ELEC POWER CORP-SP ADR	ADR	500631106	14	936	SH		SOLE		936	0	0
KOSE CORP-UNSPONSORED ADR	ADR	500679105	17,742	422,134	SH		SOLE		417,012	0	5,122
LAFARGEHOLCIM LTD-UNSP ADR	ADR	50586V108	22,361	2,048,680	SH		SOLE		1,891,334	0	157,346
LAMAR ADVERTISING CO-A	COM	512816109	103,298	1,622,656	SH		SOLE		1,622,656	0	0
LAS VEGAS SANDS CORP	COM	517834107	298,149	4,146,721	SH		SOLE		4,146,721	0	0
LIBERTY GLOBAL PLC- C	COM	G5480U120	92,738	3,047,577	SH		SOLE		3,004,722	0	42,855
LYONDELLBASELL INDU-CL A	COM	N53745100	181,409	1,716,587	SH		SOLE		1,716,587	0	0
MASTERCARD INC - A	COM	57636Q104	48,049	274,317	SH		SOLE		273,305	0	1,012
MEDTRONIC PLC	COM	G5960L103	51,624	643,526	SH		SOLE		613,262	0	30,264
MERCK & CO. INC.	COM	58933Y105	253,157	4,647,647	SH		SOLE		4,647,647	0	0
MERLIN ENTERTAINMENT-SP ADR	ADR	59010Q205	7,433	738,855	SH		SOLE		729,739	0	9,116
MFA FINANCIAL INC	COM	55272X102	257,879	34,246,878	SH		SOLE		34,246,878	0	0
MGM CHINA HOLDINGS-UNSP ADR	ADR	55300R101	10,598	335,388	SH		SOLE		331,294	0	4,094
MICROSOFT CORP	COM	594918104	785	8,602	SH		SOLE		8,602	0	0
MITSUBISHI UFJ FINL-SPON ADR	ADR	606822104	4	535	SH		SOLE		535	0	0
MONSANTO CO	COM	61166W101	10,281	88,105	SH		SOLE		88,105	0	0
MONSTER BEVERAGE CORP	COM	61174X109	14,984	261,918	SH		SOLE		261,918	0	0
MORGAN STANLEY	PFD	61747S504	2,735	120,000	SH		SOLE		120,000	0	0
NATIONAL GRID PLC-SP ADR	ADR	636274409	18	318	SH		SOLE		318	0	0
NETENT AB-UNSPONSORED ADR	ADR	64112W100	4,735	459,726	SH		SOLE		453,745	0	5,981
NETFLIX INC	COM	64110L106	8,081	27,361	SH		SOLE		27,361	0	0
NEVRO CORP	COM	64157F103	17,017	196,343	SH		SOLE		196,343	0	0
NIKE INC -CL B	COM	654106103	39,512	594,698	SH		SOLE		563,632	0	31,066
NN GROUP NV - UNSPON ADR	ADR	629334103	25,686	1,152,876	SH		SOLE		1,064,559	0	88,317
NOMAD FOODS LTD	COM	G6564A105	51,412	3,266,351	SH		SOLE		3,118,453	0	147,898
NOVARTIS AG-SPONSORED ADR	ADR	66987V109	22,890	283,123	SH		SOLE		283,123	0	0
NUTRIEN LTD	COM	67077M108	1,527	32,306	SH		SOLE		32,306	0	0
OAKTREE CAPITAL GROUP LLC	COM	674001201	39,049	986,084	SH		SOLE		937,884	0	48,200
OMRON CORP- SPONSORED ADR	ADR	682151303	48,862	827,891	SH		SOLE		764,751	0	63,140
ONEOK INC	COM	682680103	239,750	4,212,051	SH		SOLE		4,212,051	0	0
O'REILLY AUTOMOTIVE INC	COM	67103H107	49,337	199,439	SH		SOLE		189,581	0	9,858
OUTFRONT MEDIA INC	COM	69007J106	43,383	2,315,000	SH		SOLE		2,315,000	0	0
PALO ALTO NETWORKS INC	COM	697435105	37,568	206,962	SH		SOLE		199,881	0	7,081
PAYPAL HOLDINGS INC	COM	70450Y103	13,857	182,641	SH		SOLE		182,641	0	0
PENNYMAC MORTGAGE INVESTMENT	COM	70931T103	46,306	2,568,281	SH		SOLE		2,467,549	0	100,732
PFIZER INC	COM	717081103	88,934	2,505,883	SH		SOLE		2,505,883	0	0
PHIBRO ANIMAL HEALTH CORP-A	COM	71742Q106	1	18	SH		SOLE		18	0	0
PING AN INSURANCE-ADR	ADR	72341E304	37,521	1,808,675	SH		SOLE		1,669,096	0	139,579
PIONEER NATURAL RESOURCES CO	COM	723787107	11,542	67,189	SH		SOLE		67,189	0	0
PRICESMART INC	COM	741511109	12,239	146,489	SH		SOLE		145,992	0	497
PROOFPOINT INC	COM	743424103	8,313	73,143	SH		SOLE		73,143	0	0
PURE STORAGE INC - CLASS A	COM	74624M102	23,145	1,160,142	SH		SOLE		1,107,443	0	52,699
QUALCOMM INC	COM	747525103	293,551	5,297,804	SH		SOLE		5,297,804	0	0
RECKITT BENCKISER-SPON ADR	ADR	756255204	24,502	1,455,869	SH		SOLE		1,340,185	0	115,684
ROYAL DUTCH SHELL-SPON ADR-A	ADR	780259206	732,105	11,473,201	SH		SOLE		11,440,042	0	33,159
RPC GROUP PLC-UNSP ADR	ADR	749661104	14,096	649,783	SH		SOLE		525,103	0	124,680
RYANAIR HOLDINGS PLC-SP ADR	ADR	783513203	242,499	1,973,942	SH		SOLE		1,956,734	0	17,208
SANDS CHINA LTD-UNSPONS ADR	ADR	80007R105	12,557	231,005	SH		SOLE		228,174	0	2,831
SAP SE-SPONSORED ADR	ADR	803054204	34,812	331,039	SH		SOLE		305,623	0	25,416
SEASPAN CORP	COM	Y75638109	1,240	185,600	SH		SOLE		185,600	0	0
SERVICENOW INC	COM	81762P102	13,335	80,599	SH		SOLE		80,599	0	0
SHAW COMMUNICATIONS INC-B	COM	82028K200	1,171	60,812	SH		SOLE		60,812	0	0
SHIN-ETSU CHEM-UNSPON ADR	ADR	824551105	41,128	1,583,375	SH		SOLE		1,462,056	0	121,319
SOLAR CAPITAL LTD	COM	83413U100	93,702	4,613,589	SH		SOLE		4,613,589	0	0
SPLUNK INC	COM	848637104	8,772	89,157	SH		SOLE		89,157	0	0
ST JAMES'S PLACE PLC	COM	G5005D124	14,841	974,442	SH		SOLE		962,476	0	11,966
STARBUCKS CORP	COM	855244109	41,636	719,220	SH		SOLE		685,784	0	33,436
SUBARU CORP-UNSPONS ADR	ADR	86428V104	12,948	781,399	SH		SOLE		721,465	0	59,934
SUNCOR ENERGY INC	COM	867224107	134,828	3,904,529	SH		SOLE		3,904,529	0	0
SVB FINANCIAL GROUP	COM	78486Q101	17,861	74,416	SH		SOLE		74,416	0	0
SWITCH INC - A	COM	87105L104	5,481	344,499	SH		SOLE		344,499	0	0
TAIWAN SEMICONDUCTOR-SP ADR	ADR	874039100	2,167	49,512	SH		SOLE		49,512	0	0
TAL EDUCATION GROUP- ADR	ADR	874080104	248,477	6,699,304	SH		SOLE		6,619,030	0	80,274
TEEKAY CORP	COM	Y8564W103	1,623	200,563	SH		SOLE		200,563	0	0
TEEKAY LNG PARTNERS LP	COM	Y8564M105	53,533	2,990,690	SH		SOLE		2,941,840	0	48,850
TENCENT HOLDINGS LTD-UNS ADR	ADR	88032Q109	29,602	555,485	SH		SOLE		531,639	0	23,846
TEVA PHARMACEUTICAL-SP ADR	ADR	881624209	65,088	3,808,527	SH		SOLE		3,751,558	0	56,969
THERMO FISHER SCIENTIFIC INC	COM	883556102	82,611	400,131	SH		SOLE		377,706	0	22,425
TJX COMPANIES INC	COM	872540109	14,340	175,823	SH		SOLE		175,823	0	0
T-MOBILE US INC	COM	872590104	174,065	2,851,660	SH		SOLE		2,851,660	0	0
TRI POINTE GROUP INC	COM	87265H109	45,667	2,779,466	SH		SOLE		2,615,047	0	164,419
UNICREDIT SPA-ADR	ADR	904678406	41,985	4,037,023	SH		SOLE		3,728,869	0	308,154
UNILEVER N V -NY SHARES	COM	904784709	35,884	636,359	SH		SOLE		636,359	0	0
UNITED PARCEL SERVICE-CL B	COM	911312106	34,187	326,646	SH		SOLE		308,457	0	18,189
US FOODS HOLDING CORP	COM	912008109	76,565	2,336,446	SH		SOLE		2,223,588	0	112,858
VALERO ENERGY CORP	COM	91913Y100	176,399	1,901,461	SH		SOLE		1,901,461	0	0
VANGUARD EUROPE PACIFIC ETF	ETF	921943858	9,328	210,810	SH		SOLE		207,045	0	3,765
VEOLIA ENVIRONNEMENT-ADR	ADR	92334N103	14,966	630,418	SH		SOLE		581,867	0	48,551
VEREIT INC	PFD	92339V209	657	25,857	SH		SOLE		25,857	0	0
VIASAT INC	COM	92552V100	4,469	68,008	SH		SOLE		68,008	0	0
VINCI S.A.-UNSPONS ADR	ADR	927320101	20,708	840,750	SH		SOLE		776,278	0	64,472
VISA INC-CLASS A SHARES	COM	92826C839	76,560	640,024	SH		SOLE		638,691	0	1,333
WALGREENS BOOTS ALLIANCE INC	COM	931427108	344,242	5,258,014	SH		SOLE		5,258,014	0	0
WALMART INC	COM	931142103	60,886	684,347	SH		SOLE		658,784	0	25,563
WARRIOR MET COAL INC	COM	93627C101	10,868	388,021	SH		SOLE		388,021	0	0
WASHINGTON REIT	COM	939653101	81,229	2,975,427	SH		SOLE		2,975,427	0	0
WELLS FARGO & CO	COM	949746101	1,626	31,032	SH		SOLE		31,032	0	0
WIRECARD AG	COM	D22359133	20,049	169,929	SH		SOLE		167,882	0	2,047
WIX.COM LTD	COM	M98068105	11,533	144,975	SH		SOLE		144,975	0	0
WORKDAY INC-CLASS A	COM	98138H101	8,419	66,236	SH		SOLE		66,236	0	0
WORLDPAY INC-CLASS A	COM	981558109	34,440	418,778	SH		SOLE		416,039	0	2,739
WPP PLC-SPONSORED ADR	ADR	92937A102	2	29	SH		SOLE		29	0	0
YANDEX NV-A	COM	N97284108	68,466	1,735,524	SH		SOLE		1,730,496	0	5,028
YOOX SPA-UNSPON ADR	ADR	98615U104	18,833	406,243	SH		SOLE		401,252	0	4,991
YUM CHINA HOLDINGS INC	COM	98850P109	20,419	492,023	SH		SOLE		492,023	0	0
ZALANDO SE - UNSPONSORED ADR	ADR	98887L105	15,196	550,395	SH		SOLE		543,654	0	6,741
ZAYO GROUP HOLDINGS INC	COM	98919V105	93,333	2,732,236	SH		SOLE		2,732,236	0	0
ZILLOW GROUP INC - C	COM	98954M200	13,381	248,726	SH		SOLE		248,726	0	0
ZSCALER INC	COM	98980G102	39	1,385	SH		SOLE		1,385	0	0