Ninety One UK 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

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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
3M CO	Common Stock	88579Y101	158,777	900,964	SH		SOLE		900,964	0	0
ABBVIE INC	Common Stock	00287Y109	11,201	177,598	SH		SOLE		177,598	0	0
ABERCROMBIE & FITCH CO	Common Stock	002896207	7,375	464,154	SH		SOLE		464,154	0	0
ACCENTURE PLC	Common Stock	G1151C101	12,786	104,660	SH		SOLE		104,660	0	0
ACTIVISION BLIZZARD INC	Common Stock	00507V109	355,147	8,016,869	SH		SOLE		8,016,869	0	0
ADECOAGRO SA	Common Stock	L00849106	210	18,367	SH		SOLE		18,367	0	0
ADOBE SYSTEMS INC	Common Stock	00724F101	243	2,240	SH		SOLE		2,240	0	0
AFLAC INC	Common Stock	001055102	241,621	3,361,914	SH		SOLE		3,361,914	0	0
AGNICO EAGLE MINES LTD	Common Stock	008474108	28,034	519,299	SH		SOLE		519,299	0	0
AIR PRODUCTS & CHEMICALS INC	Common Stock	009158106	683	4,544	SH		SOLE		4,544	0	0
ALAMOS GOLD INC	Common Stock	011532108	8,001	973,642	SH		SOLE		973,642	0	0
ALASKA AIR GROUP INC	Common Stock	011659109	65,949	1,001,348	SH		SOLE		1,001,348	0	0
ALBEMARLE CORP	Common Stock	012653101	220	2,571	SH		SOLE		2,571	0	0
ALEXANDRIA REAL ESTATE EQUITIE	REIT	015271109	1,378	12,669	SH		SOLE		12,669	0	0
ALIBABA GROUP HOLDING LTD	ADR	01609W102	313,845	2,966,681	SH		SOLE		2,966,681	0	0
ALLIANCE DATA SYSTEMS CORP	Common Stock	018581108	184,520	860,115	SH		SOLE		860,115	0	0
ALLY FINANCIAL INC	Common Stock	02005N100	209,300	10,749,883	SH		SOLE		10,749,883	0	0
ALPHABET INC	Common Stock	02079K305	318,006	395,500	SH		SOLE		395,500	0	0
ALTRIA GROUP INC	Common Stock	02209S103	118,472	1,873,660	SH		SOLE		1,873,660	0	0
AMBEV SA	ADR	02319V103	85,340	14,013,116	SH		SOLE	1	14,013,116	0	0
AMC NETWORKS INC	Common Stock	00164V103	46,931	904,957	SH		SOLE		904,957	0	0
AMDOCS LTD	Common Stock	G02602103	192,167	3,321,814	SH		SOLE		3,321,814	0	0
AMERICAN EXPRESS CO	Common Stock	025816109	49,223	768,628	SH		SOLE		768,628	0	0
AMERICAN FINANCIAL GROUP INC/O	Common Stock	025932104	80,351	1,071,350	SH		SOLE		1,071,350	0	0
AMGEN INC	Common Stock	031162100	419	2,513	SH		SOLE		2,513	0	0
ANADARKO PETROLEUM CORP	Common Stock	032511107	44,726	705,898	SH		SOLE		705,898	0	0
ANGLOGOLD ASHANTI LTD	ADR	035128206	12,491	784,597	SH		SOLE		784,597	0	0
ANHEUSER-BUSCH INBEV SA/NV	ADR	03524A108	126,062	959,300	SH		SOLE		959,300	0	0
ANTHEM INC	Common Stock	036752103	7,830	62,489	SH		SOLE		62,489	0	0
APARTMENT INVESTMENT & MANAGEM	REIT	03748R101	1,184	25,800	SH		SOLE		25,800	0	0
APPLE INC	Common Stock	037833100	114,384	1,011,801	SH		SOLE		1,011,801	0	0
ARCHER-DANIELS-MIDLAND CO	Common Stock	039483102	10,119	239,968	SH		SOLE		239,968	0	0
ARTHUR J GALLAGHER & CO	Common Stock	363576109	10,629	208,948	SH		SOLE		208,948	0	0
AT&T INC	Common Stock	00206R102	334,076	8,226,434	SH		SOLE		8,226,434	0	0
AUTOMATIC DATA PROCESSING INC	Common Stock	053015103	115,935	1,314,454	SH		SOLE		1,314,454	0	0
AVALONBAY COMMUNITIES INC	REIT	053484101	1,408	7,919	SH		SOLE		7,919	0	0
AVON PRODUCTS INC	Common Stock	054303102	42,428	7,496,173	SH		SOLE		7,496,173	0	0
B/E AEROSPACE INC	Common Stock	073302101	70,975	1,373,896	SH		SOLE		1,373,896	0	0
BAIDU INC	ADR	056752108	61,247	336,391	SH		SOLE	1	336,391	0	0
BANCO BRADESCO SA	ADR	059460303	66,452	7,326,568	SH		SOLE	1	7,326,568	0	0
BANK OF AMERICA CORP	Common Stock	060505104	63,592	4,063,391	SH		SOLE		4,063,391	0	0
BANK OF NEW YORK MELLON CORP	Common Stock	064058100	200,725	5,033,229	SH		SOLE		5,033,229	0	0
BARRICK GOLD CORP	Common Stock	067901108	47,651	2,691,076	SH		SOLE		2,691,076	0	0
BECTON DICKINSON AND CO	Common Stock	075887109	5,813	32,343	SH		SOLE		32,343	0	0
BEST BUY CO INC	Common Stock	086516101	97,236	2,546,788	SH		SOLE		2,546,788	0	0
BIG LOTS INC	Common Stock	089302103	51,541	1,079,398	SH		SOLE		1,079,398	0	0
BOSTON PROPERTIES INC	REIT	101121101	1,684	12,356	SH		SOLE		12,356	0	0
BRF SA	ADR	10552T107	3,196	187,330	SH		SOLE		187,330	0	0
BRIXMOR PROPERTY GROUP INC	REIT	11120U105	1,829	65,811	SH		SOLE		65,811	0	0
BROADCOM LTD	Common Stock	Y09827109	190,988	1,107,051	SH		SOLE	1	1,107,051	0	0
BUNGE LTD	Common Stock	G16962105	10,489	177,093	SH		SOLE		177,093	0	0
CABOT OIL & GAS CORP	Common Stock	127097103	10,166	394,014	SH		SOLE		394,014	0	0
CAMECO CORP	Common Stock	13321L108	2,034	237,577	SH		SOLE		237,577	0	0
CAMPBELL SOUP CO	Common Stock	134429109	3,566	65,189	SH		SOLE		65,189	0	0
CANADIAN IMPERIAL BANK OF COMM	Common Stock	136069101	223,320	2,885,076	SH		SOLE		2,885,076	0	0
CANADIAN NATURAL RESOURCES LTD	Common Stock	136385101	70,331	2,203,937	SH		SOLE		2,203,937	0	0
CARE CAPITAL PROPERTIES INC	REIT	141624106	1,386	48,620	SH		SOLE		48,620	0	0
CARNIVAL CORP	Common Stock	143658300	159,083	3,258,564	SH		SOLE		3,258,564	0	0
CBS CORP	Common Stock	124857202	178,484	3,260,579	SH		SOLE		3,260,579	0	0
CELANESE CORP	Common Stock	150870103	112,412	1,688,885	SH		SOLE		1,688,885	0	0
CEMENTOS PACASMAYO SAA	ADR	15126Q109	1,123	119,209	SH		SOLE		119,209	0	0
CF INDUSTRIES HOLDINGS INC	Common Stock	125269100	7,911	324,902	SH		SOLE		324,902	0	0
CH ROBINSON WORLDWIDE INC	Common Stock	12541W209	3,185	45,197	SH		SOLE		45,197	0	0
CHECK POINT SOFTWARE TECHNOLOG	Common Stock	M22465104	223,228	2,876,280	SH		SOLE		2,876,280	0	0
CHEMED CORP	Common Stock	16359R103	60,646	429,898	SH		SOLE		429,898	0	0
CHEVRON CORP	Common Stock	166764100	53,084	515,775	SH		SOLE		515,775	0	0
CHINA BIOLOGIC PRODUCTS INC	Common Stock	16938C106	24,960	200,515	SH		SOLE	1	200,515	0	0
CHINA LODGING GROUP LTD	ADR	16949N109	1,304	28,918	SH		SOLE		28,918	0	0
CIA DE MINAS BUENAVENTURA SAA	ADR	204448104	12,855	928,823	SH		SOLE		928,823	0	0
CIGNA CORP	Common Stock	125509109	183,119	1,405,150	SH		SOLE		1,405,150	0	0
CIMAREX ENERGY CO	Common Stock	171798101	22,305	165,996	SH		SOLE		165,996	0	0
CISCO SYSTEMS INC	Common Stock	17275R102	334,399	10,542,211	SH		SOLE		10,542,211	0	0
CITIGROUP INC	Common Stock	172967424	523,082	11,075,201	SH		SOLE		11,075,201	0	0
CLOROX CO/THE	Common Stock	189054109	4,510	36,031	SH		SOLE		36,031	0	0
CME GROUP INC/IL	Common Stock	12572Q105	263,367	2,519,772	SH		SOLE		2,519,772	0	0
COACH INC	Common Stock	189754104	38,366	1,049,397	SH		SOLE		1,049,397	0	0
COCA-COLA CO/THE	Common Stock	191216100	5,425	128,195	SH		SOLE		128,195	0	0
COLGATE-PALMOLIVE CO	Common Stock	194162103	266,994	3,601,212	SH		SOLE	1	3,601,212	0	0
COMCAST CORP	Common Stock	20030N101	290,859	4,384,370	SH		SOLE		4,384,370	0	0
CONOCOPHILLIPS	Common Stock	20825C104	44,006	1,012,322	SH		SOLE		1,012,322	0	0
CONTROLADORA VUELA CIA DE AVIA	ADR	21240E105	1,999	114,975	SH		SOLE		114,975	0	0
COPA HOLDINGS SA	Common Stock	P31076105	2,607	29,650	SH		SOLE		29,650	0	0
COSAN LTD	Common Stock	G25343107	35,324	4,940,461	SH		SOLE	1	4,940,461	0	0
CREDICORP LTD	Common Stock	G2519Y108	45,989	302,124	SH		SOLE	1	302,124	0	0
CRESCENT POINT ENERGY CORP	Common Stock	22576C101	9,148	694,966	SH		SOLE		694,966	0	0
CUMMINS INC	Common Stock	231021106	186,451	1,454,943	SH		SOLE		1,454,943	0	0
CYRUSONE INC	REIT	23283R100	974	20,469	SH		SOLE		20,469	0	0
DANAHER CORP	Common Stock	235851102	104,903	1,338,221	SH		SOLE		1,338,221	0	0
DEERE & CO	Common Stock	244199105	57,459	673,212	SH		SOLE		673,212	0	0
DELUXE CORP	Common Stock	248019101	2,930	43,846	SH		SOLE		43,846	0	0
DEVON ENERGY CORP	Common Stock	25179M103	15,110	342,556	SH		SOLE		342,556	0	0
DIGITAL REALTY TRUST INC	REIT	253868103	14,082	145,000	SH		SOLE		145,000	0	0
DOW CHEMICAL CO/THE	Common Stock	260543103	126,543	2,441,506	SH		SOLE		2,441,506	0	0
DR PEPPER SNAPPLE GROUP INC	Common Stock	26138E109	4,008	43,893	SH		SOLE		43,893	0	0
DST SYSTEMS INC	Common Stock	233326107	10,064	85,346	SH		SOLE		85,346	0	0
DUNKIN' BRANDS GROUP INC	Common Stock	265504100	125	2,408	SH		SOLE		2,408	0	0
EASTMAN CHEMICAL CO	Common Stock	277432100	230	3,401	SH		SOLE		3,401	0	0
EATON VANCE CORP	Common Stock	278265103	3,289	84,216	SH		SOLE		84,216	0	0
EBAY INC	Common Stock	278642103	288,019	8,754,362	SH		SOLE		8,754,362	0	0
ECOLAB INC	Common Stock	278865100	737	6,053	SH		SOLE		6,053	0	0
EI DU PONT DE NEMOURS & CO	Common Stock	263534109	1,364	20,363	SH		SOLE		20,363	0	0
ELDORADO GOLD CORP	Common Stock	284902103	3,954	1,006,037	SH		SOLE		1,006,037	0	0
EMERSON ELECTRIC CO	Common Stock	291011104	3,551	65,147	SH		SOLE		65,147	0	0
ENCANA CORP	Common Stock	292505104	12,640	1,211,686	SH		SOLE		1,211,686	0	0
ENERSIS SA	ADR	29274F104	23,239	2,837,493	SH		SOLE	1	2,837,493	0	0
EOG RESOURCES INC	Common Stock	26875P101	54,217	560,618	SH		SOLE		560,618	0	0
EQUITY RESIDENTIAL	REIT	29476L107	1,155	17,960	SH		SOLE		17,960	0	0
ESSEX PROPERTY TRUST INC	REIT	297178105	1,047	4,700	SH		SOLE		4,700	0	0
ESTEE LAUDER COS INC/THE	Common Stock	518439104	3,261	36,822	SH		SOLE		36,822	0	0
EVERTEC INC	Common Stock	30040P103	2,228	132,796	SH		SOLE		132,796	0	0
EXPEDITORS INTERNATIONAL OF WA	Common Stock	302130109	3,863	74,987	SH		SOLE		74,987	0	0
EXTRA SPACE STORAGE INC	REIT	30225T102	1,199	15,100	SH		SOLE		15,100	0	0
EXXON MOBIL CORP	Common Stock	30231G102	57,957	664,035	SH		SOLE		664,035	0	0
FACTSET RESEARCH SYSTEMS INC	Common Stock	303075105	84,190	519,370	SH		SOLE		519,370	0	0
FIDELITY NATIONAL INFORMATION	Common Stock	31620M106	12,961	168,256	SH		SOLE		168,256	0	0
FISERV INC	Common Stock	337738108	169,686	1,705,905	SH		SOLE		1,705,905	0	0
FLEXTRONICS INTERNATIONAL LTD	Common Stock	Y2573F102	94,486	6,937,320	SH		SOLE	1	6,937,320	0	0
FNF GROUP	Tracking Stk	31620R303	64,286	1,741,690	SH		SOLE		1,741,690	0	0
FOMENTO ECONOMICO MEXICANO SAB	ADR	344419106	53,734	583,810	SH		SOLE	1	583,810	0	0
FORTIVE CORP	Common Stock	34959J108	33,190	652,069	SH		SOLE		652,069	0	0
FRANCO-NEVADA CORP	Common Stock	351858105	20,718	297,064	SH		SOLE		297,064	0	0
GAMING AND LEISURE PROPERTIES	REIT	36467J108	37,429	1,118,967	SH		SOLE		1,118,967	0	0
GENERAL ELECTRIC CO	Common Stock	369604103	273	9,233	SH		SOLE		9,233	0	0
GENERAL GROWTH PROPERTIES INC	REIT	370023103	2,401	87,000	SH		SOLE		87,000	0	0
GENUINE PARTS CO	Common Stock	372460105	4,152	41,333	SH		SOLE		41,333	0	0
GILEAD SCIENCES INC	Common Stock	375558103	206,095	2,604,836	SH		SOLE		2,604,836	0	0
GOLD FIELDS	ADR	38059T106	12,491	2,575,503	SH		SOLE		2,575,503	0	0
GOLDCORP INC	Common Stock	380956409	42,906	2,597,209	SH		SOLE		2,597,209	0	0
GREAT WESTERN BANCORP INC	Common Stock	391416104	46,546	1,396,940	SH		SOLE		1,396,940	0	0
GRUPO AEROPORTUARIO DEL SUREST	ADR	40051E202	34,416	235,051	SH		SOLE	1	235,051	0	0
GRUPO FINANCIERO GALICIA SA	ADR	399909100	598	19,225	SH		SOLE		19,225	0	0
HALLIBURTON CO	Common Stock	406216101	10,109	225,244	SH		SOLE		225,244	0	0
HARTFORD FINANCIAL SERVICES GR	Common Stock	416515104	82,554	1,927,939	SH		SOLE		1,927,939	0	0
HEALTHSOUTH CORP	Common Stock	421924309	9,761	240,600	SH		SOLE		240,600	0	0
HELMERICH & PAYNE INC	Common Stock	423452101	59,859	889,431	SH		SOLE		889,431	0	0
HESS CORP	Common Stock	42809H107	168,130	3,135,587	SH		SOLE		3,135,587	0	0
HEWLETT PACKARD ENTERPRISE CO	Common Stock	42824C109	178,879	7,862,831	SH		SOLE		7,862,831	0	0
HOME DEPOT INC/THE	Common Stock	437076102	3,685	28,638	SH		SOLE		28,638	0	0
HONEYWELL INTERNATIONAL INC	Common Stock	438516106	307,264	2,635,424	SH		SOLE		2,635,424	0	0
HORMEL FOODS CORP	Common Stock	440452100	4,329	114,137	SH		SOLE		114,137	0	0
HOST HOTELS & RESORTS INC	REIT	44107P104	713	45,800	SH		SOLE		45,800	0	0
HP INC	Common Stock	40434L105	528	33,971	SH		SOLE		33,971	0	0
HUDSON PACIFIC PROPERTIES INC	REIT	444097109	1,130	34,372	SH		SOLE		34,372	0	0
IDEX CORP	Common Stock	45167R104	120,635	1,289,246	SH		SOLE		1,289,246	0	0
ILLINOIS TOOL WORKS INC	Common Stock	452308109	38,203	318,780	SH		SOLE		318,780	0	0
IMPERIAL OIL LTD	Common Stock	453038408	19,147	613,163	SH		SOLE		613,163	0	0
INTERNATIONAL BUSINESS MACHINE	Common Stock	459200101	3,381	21,285	SH		SOLE		21,285	0	0
INTERNATIONAL FLAVORS & FRAGRA	Common Stock	459506101	659	4,606	SH		SOLE		4,606	0	0
INTERNATIONAL SPEEDWAY CORP	Common Stock	460335201	15,285	457,360	SH		SOLE		457,360	0	0
INTUIT INC	Common Stock	461202103	66,164	601,440	SH		SOLE		601,440	0	0
IPATH MSCI INDIA INDEX ETN	ETP	06739F291	5,300	76,588	SH		SOLE		76,588	0	0
IPATH S&P 500 VIX SHORT-TERM F	ETP	06740Q252	69	2,016	SH		SOLE		2,016	0	0
ISHARES IBOXX $ INVESTMENT GRA	ETP	464287242	19	155	SH		SOLE		155	0	0
ISHARES MSCI INDIA ETF	ETP	46429B598	5,404	183,763	SH		SOLE		183,763	0	0
ISHARES MSCI QATAR CAPPED ETF	ETP	46434V779	285	14,639	SH		SOLE		14,639	0	0
ISHARES MSCI RUSSIA CAPPED ETF	ETP	46434G806	11,866	815,000	SH		SOLE		815,000	0	0
ISHARES MSCI SOUTH KOREA CAPPE	ETP	464286772	2,407	41,400	SH		SOLE		41,400	0	0
ISHARES MSCI TAIWAN ETF	ETP	464286731	398	25,355	SH		SOLE		25,355	0	0
ISHARES MSCI UAE CAPPED ETF	ETP	46434V761	282	16,616	SH		SOLE		16,616	0	0
ITAU UNIBANCO HOLDING SA	ADR	465562106	22,690	2,074,045	SH		SOLE		2,074,045	0	0
JACK HENRY & ASSOCIATES INC	Common Stock	426281101	4,417	51,633	SH		SOLE		51,633	0	0
JOHNSON & JOHNSON	Common Stock	478160104	685,489	5,802,835	SH		SOLE		5,802,835	0	0
JOHNSON CONTROLS INTERNATIONAL	Common Stock	G51502105	200,777	4,314,991	SH		SOLE		4,314,991	0	0
JONES LANG LASALLE INC	Common Stock	48020Q107	54,385	477,946	SH		SOLE		477,946	0	0
KEYCORP	Common Stock	493267108	16,998	1,396,689	SH		SOLE		1,396,689	0	0
KILROY REALTY CORP	REIT	49427F108	721	10,400	SH		SOLE		10,400	0	0
KINROSS GOLD CORP	Common Stock	496902404	27,405	6,511,124	SH		SOLE		6,511,124	0	0
KLONDEX MINES LTD	Common Stock	498696103	4,035	703,268	SH		SOLE		703,268	0	0
LAM RESEARCH CORP	Common Stock	512807108	229,205	2,420,070	SH		SOLE		2,420,070	0	0
LANDSTAR SYSTEM INC	Common Stock	515098101	3,323	48,808	SH		SOLE		48,808	0	0
LEAR CORP	Common Stock	521865204	66,637	549,720	SH		SOLE		549,720	0	0
LEUCADIA NATIONAL CORP	Common Stock	527288104	48,521	2,548,367	SH		SOLE		2,548,367	0	0
LIFE STORAGE INC	REIT	53223X107	1,281	14,402	SH		SOLE		14,402	0	0
LINCOLN NATIONAL CORP	Common Stock	534187109	36,016	766,616	SH		SOLE		766,616	0	0
LYONDELLBASELL INDUSTRIES NV	Common Stock	N53745100	817	10,135	SH		SOLE		10,135	0	0
MACY'S INC	Common Stock	55616P104	38,391	1,036,207	SH		SOLE		1,036,207	0	0
MANITOWOC CO INC/THE	Common Stock	563571108	24,120	5,035,519	SH		SOLE		5,035,519	0	0
MANITOWOC FOODSERVICE INC	Common Stock	563568104	78,874	4,862,756	SH		SOLE		4,862,756	0	0
MARATHON OIL CORP	Common Stock	565849106	33,534	2,121,071	SH		SOLE		2,121,071	0	0
MARRIOTT VACATIONS WORLDWIDE C	Common Stock	57164Y107	77,322	1,054,579	SH		SOLE		1,054,579	0	0
MARSH & MCLENNAN COS INC	Common Stock	571748102	21,440	318,808	SH		SOLE		318,808	0	0
MCDONALD'S CORP	Common Stock	580135101	6,575	56,999	SH		SOLE		56,999	0	0
MDC HOLDINGS INC	Common Stock	552676108	15,924	617,203	SH		SOLE		617,203	0	0
MEDNAX INC	Common Stock	58502B106	81,359	1,228,053	SH		SOLE		1,228,053	0	0
MEDTRONIC PLC	Common Stock	G5960L103	222,471	2,574,899	SH		SOLE		2,574,899	0	0
MELLANOX TECHNOLOGIES LTD	Common Stock	M51363113	61,872	1,430,565	SH		SOLE		1,430,565	0	0
MERCK & CO INC	Common Stock	58933Y105	7,223	115,734	SH		SOLE		115,734	0	0
MICHAEL KORS HOLDINGS LTD	Common Stock	G60754101	55,903	1,194,759	SH		SOLE		1,194,759	0	0
MICROSOFT CORP	Common Stock	594918104	361,443	6,275,060	SH		SOLE		6,275,060	0	0
MONDELEZ INTERNATIONAL INC	Common Stock	609207105	9,455	215,386	SH		SOLE		215,386	0	0
MONSANTO CO	Common Stock	61166W101	13,623	133,293	SH		SOLE		133,293	0	0
MOODY'S CORP	Common Stock	615369105	205,499	1,897,847	SH		SOLE		1,897,847	0	0
MORGAN STANLEY INTL LTD	Common Stock	617446448	95,514	2,979,230	SH		SOLE		2,979,230	0	0
MOTOROLA SOLUTIONS INC	Common Stock	620076307	17,594	230,651	SH		SOLE		230,651	0	0
NETEASE INC	ADR	64110W102	148,714	617,635	SH		SOLE	1	617,635	0	0
NEW GOLD INC	Common Stock	644535106	6,187	1,429,014	SH		SOLE		1,429,014	0	0
NEW ORIENTAL EDUCATION & TECHN	ADR	647581107	79,235	1,709,116	SH		SOLE	1	1,709,116	0	0
NEWMONT MINING CORP	Common Stock	651639106	78,671	2,002,325	SH		SOLE		2,002,325	0	0
NICE-SYSTEMS LTD	ADR	653656108	49,652	741,738	SH		SOLE		741,738	0	0
NIELSEN HOLDINGS PLC	Common Stock	G6518L108	6,522	121,750	SH		SOLE		121,750	0	0
NIKE INC	Common Stock	654106103	4,783	90,846	SH		SOLE		90,846	0	0
NOBLE ENERGY INC	Common Stock	655044105	37,205	1,040,992	SH		SOLE		1,040,992	0	0
NORTHERN TRUST CORP	Common Stock	665859104	42,349	622,871	SH		SOLE		622,871	0	0
NORTHROP GRUMMAN CORP	Common Stock	666807102	4,031	18,840	SH		SOLE		18,840	0	0
NVIDIA CORP	Common Stock	67066G104	2,780	40,571	SH		SOLE		40,571	0	0
NXP SEMICONDUCTOR NV	Common Stock	N6596X109	297,222	2,913,657	SH		SOLE		2,913,657	0	0
OASIS PETROLEUM INC	Common Stock	674215108	8,597	749,524	SH		SOLE		749,524	0	0
OCCIDENTAL PETROLEUM CORP	Common Stock	674599105	147,160	2,018,096	SH		SOLE		2,018,096	0	0
ON SEMICONDUCTOR CORP	Common Stock	682189105	43,671	3,544,732	SH		SOLE		3,544,732	0	0
ORACLE CORP	Common Stock	68389X105	104,144	2,651,330	SH		SOLE		2,651,330	0	0
OSISKO GOLD ROYALTIES LTD	Common Stock	68827L101	4,571	418,331	SH		SOLE		418,331	0	0
PAMPA ENERGIA SA	ADR	697660207	134	4,148	SH		SOLE		4,148	0	0
PAN AMERICAN SILVER CORP	Common Stock	697900108	44,926	2,549,702	SH		SOLE		2,549,702	0	0
PATTERSON-UTI ENERGY INC	Common Stock	703481101	21,856	977,033	SH		SOLE		977,033	0	0
PAYPAL HOLDINGS INC	Common Stock	70450Y103	342,547	8,360,917	SH		SOLE		8,360,917	0	0
PEPSICO INC	Common Stock	713448108	354,305	3,257,374	SH		SOLE		3,257,374	0	0
PFIZER INC	Common Stock	717081103	254,920	7,526,416	SH		SOLE		7,526,416	0	0
PHILIP MORRIS INTERNATIONAL IN	Common Stock	718172109	255,896	2,632,138	SH		SOLE		2,632,138	0	0
PHYSICIANS REALTY TRUST	REIT	71943U104	1,583	73,478	SH		SOLE		73,478	0	0
PIONEER NATURAL RESOURCES CO	Common Stock	723787107	25,728	138,585	SH		SOLE		138,585	0	0
PLATINUM GROUP METALS LTD	Common Stock	72765Q601	2,000	725,992	SH		SOLE		725,992	0	0
POPULAR INC	Common Stock	733174700	99,732	2,609,423	SH		SOLE		2,609,423	0	0
PPG INDUSTRIES INC	Common Stock	693506107	649	6,278	SH		SOLE		6,278	0	0
PRAXAIR INC	Common Stock	74005P104	769	6,367	SH		SOLE		6,367	0	0
PRECISION DRILLING CORP	Common Stock	74022D308	9,407	2,256,059	SH		SOLE		2,256,059	0	0
PRESTIGE BRANDS HOLDINGS INC	Common Stock	74112D101	38,149	790,319	SH		SOLE		790,319	0	0
PRICELINE GROUP INC/THE	Common Stock	741503403	390,027	265,056	SH		SOLE		265,056	0	0
PROCTER & GAMBLE CO/THE	Common Stock	742718109	132,708	1,478,645	SH		SOLE		1,478,645	0	0
PROLOGIS INC	REIT	74340W103	15,516	289,800	SH		SOLE		289,800	0	0
PUBLIC SERVICE ENTERPRISE GROU	Common Stock	744573106	117,842	2,814,464	SH		SOLE		2,814,464	0	0
QUALCOMM INC	Common Stock	747525103	147,404	2,151,879	SH		SOLE		2,151,879	0	0
QUEST DIAGNOSTICS INC	Common Stock	74834L100	176,418	2,084,579	SH		SOLE		2,084,579	0	0
RANGE RESOURCES CORP	Common Stock	75281A109	15,081	389,180	SH		SOLE		389,180	0	0
REYNOLDS AMERICAN INC	Common Stock	761713106	71,518	1,516,809	SH		SOLE		1,516,809	0	0
Royal Gold Inc	Common Stock	780287108	15,940	205,863	SH		SOLE		205,863	0	0
S&P GLOBAL INC	Common Stock	78409V104	78,239	618,197	SH		SOLE		618,197	0	0
SCHLUMBERGER LTD	Common Stock	806857108	41,114	522,819	SH		SOLE		522,819	0	0
SCORPIO TANKERS INC	Common Stock	Y7542C106	18,525	4,001,037	SH		SOLE		4,001,037	0	0
SCRIPPS NETWORKS INTERACTIVE I	Common Stock	811065101	2,985	47,012	SH		SOLE		47,012	0	0
SEALED AIR CORP	Common Stock	81211K100	224	4,888	SH		SOLE		4,888	0	0
SERVICEMASTER GLOBAL HOLDINGS	Common Stock	81761R109	111,695	3,316,355	SH		SOLE		3,316,355	0	0
SHERWIN-WILLIAMS CO/THE	Common Stock	824348106	637	2,302	SH		SOLE		2,302	0	0
SIGNET JEWELERS LTD	Common Stock	G81276100	74,752	1,002,975	SH		SOLE		1,002,975	0	0
SILICON MOTION TECHNOLOGY CORP	ADR	82706C108	58,199	1,123,748	SH		SOLE	1	1,123,748	0	0
SILVER STANDARD RESOURCES INC	Common Stock	82823L106	18,305	1,517,831	SH		SOLE		1,517,831	0	0
SILVER WHEATON CORP	Common Stock	828336107	9,529	352,535	SH		SOLE		352,535	0	0
SIMON PROPERTY GROUP INC	REIT	828806109	28,496	137,657	SH		SOLE		137,657	0	0
SINCLAIR BROADCAST GROUP INC	Common Stock	829226109	53,681	1,858,746	SH		SOLE		1,858,746	0	0
SKYLINE CORP	Common Stock	830830105	1,980	144,620	SH		SOLE		144,620	0	0
SL GREEN REALTY CORP	REIT	78440X101	956	8,842	SH		SOLE		8,842	0	0
SODASTREAM INTERNATIONAL LTD	Common Stock	M9068E105	13,042	491,046	SH		SOLE		491,046	0	0
SOLAREDGE TECHNOLOGIES INC	Common Stock	83417M104	4,521	262,410	SH		SOLE		262,410	0	0
SOUTHWEST AIRLINES CO	Common Stock	844741108	8,340	214,449	SH		SOLE		214,449	0	0
STAPLES INC	Common Stock	855030102	2,487	290,932	SH		SOLE		290,932	0	0
STILLWATER MINING CO	Common Stock	86074Q102	5,855	438,263	SH		SOLE		438,263	0	0
STORE CAPITAL CORP	REIT	862121100	1,049	35,601	SH		SOLE		35,601	0	0
SUNCOR ENERGY INC	Common Stock	867224107	36,995	1,335,002	SH		SOLE		1,335,002	0	0
SUNPOWER CORP	Common Stock	867652406	4,302	482,343	SH		SOLE		482,343	0	0
SUNTRUST BANKS INC	Common Stock	867914103	113,452	2,590,218	SH		SOLE		2,590,218	0	0
SUPERIOR ENERGY SERVICES INC	Common Stock	868157108	9,988	557,989	SH		SOLE		557,989	0	0
T ROWE PRICE GROUP INC	Common Stock	74144T108	3,449	51,863	SH		SOLE		51,863	0	0
TAHOE RESOURCES INC	Common Stock	873868103	10,858	848,417	SH		SOLE		848,417	0	0
TAIWAN SEMICONDUCTOR MANUFACTU	ADR	874039100	31,567	1,031,953	SH		SOLE		1,031,953	0	0
TATA MOTORS LTD	ADR	876568502	2,708	67,741	SH		SOLE		67,741	0	0
TECK RESOURCES LTD	Common Stock	878742204	3,207	178,197	SH		SOLE		178,197	0	0
TELEKOMUNIKASI INDONESIA PERSE	ADR	715684106	1,601	24,223	SH		SOLE		24,223	0	0
TERNIUM SA	ADR	880890108	25,218	1,284,679	SH		SOLE	1	1,284,679	0	0
TEVA PHARMACEUTICAL INDUSTRIES	ADR	881624209	123,239	2,678,535	SH		SOLE		2,678,535	0	0
THERMO FISHER SCIENTIFIC INC	Common Stock	883556102	180,098	1,132,265	SH		SOLE		1,132,265	0	0
THOR INDUSTRIES INC	Common Stock	885160101	71,397	842,940	SH		SOLE		842,940	0	0
TIME WARNER INC	Common Stock	887317303	27,185	341,481	SH		SOLE		341,481	0	0
TJX COS INC/THE	Common Stock	872540109	3,592	48,033	SH		SOLE		48,033	0	0
TRAVELPORT WORLDWIDE LTD	Common Stock	G9019D104	219	14,551	SH		SOLE		14,551	0	0
TWENTY-FIRST CENTURY FOX INC	Common Stock	90130A101	104,691	4,322,522	SH		SOLE		4,322,522	0	0
TYSON FOODS INC	Common Stock	902494103	113,946	1,525,991	SH		SOLE		1,525,991	0	0
ULTRAPAR PARTICIPACOES SA	ADR	90400P101	206	9,409	SH		SOLE		9,409	0	0
UNITEDHEALTH GROUP INC	Common Stock	91324P102	414,895	2,963,533	SH		SOLE		2,963,533	0	0
VALERO ENERGY CORP	Common Stock	91913Y100	216,576	4,086,346	SH		SOLE		4,086,346	0	0
VANECK VECTORS GOLD MINERS ETF	ETP	92189F106	24,513	927,472	SH		SOLE		927,472	0	0
VANTIV INC	Common Stock	92210H105	204,426	3,632,949	SH		SOLE		3,632,949	0	0
VENTAS INC	REIT	92276F100	15,135	214,283	SH		SOLE		214,283	0	0
VERISIGN INC	Common Stock	92343E102	165,075	2,109,857	SH		SOLE		2,109,857	0	0
VIACOM INC	Common Stock	92553P201	1,523	39,980	SH		SOLE		39,980	0	0
VISA INC	Common Stock	92826C839	273,896	3,311,925	SH		SOLE		3,311,925	0	0
VISTEON CORP	Common Stock	92839U206	28,553	398,457	SH		SOLE		398,457	0	0
VMWARE INC	Common Stock	928563402	113,200	1,543,280	SH		SOLE		1,543,280	0	0
VOYA FINANCIAL INC	Common Stock	929089100	93,681	3,250,563	SH		SOLE		3,250,563	0	0
WAL-MART STORES INC	Common Stock	931142103	22,389	310,435	SH		SOLE		310,435	0	0
WASHINGTON FEDERAL INC	Common Stock	938824109	52,495	1,967,580	SH		SOLE		1,967,580	0	0
WEATHERFORD INTERNATIONAL PLC	Common Stock	G48833100	12,491	2,222,566	SH		SOLE		2,222,566	0	0
WEIGHT WATCHERS INTERNATIONAL	Common Stock	948626106	3,717	360,163	SH		SOLE		360,163	0	0
WELLS FARGO & CO	Common Stock	949746101	381	8,598	SH		SOLE		8,598	0	0
WESCO INTERNATIONAL INC	Common Stock	95082P105	54,395	884,618	SH		SOLE		884,618	0	0
WESTERN UNION CO/THE	Common Stock	959802109	184,639	8,868,329	SH		SOLE		8,868,329	0	0
WESTROCK CO	Common Stock	96145D105	75,523	1,557,822	SH		SOLE		1,557,822	0	0
WHITING PETROLEUM CORP	Common Stock	966387102	13,973	1,598,741	SH		SOLE		1,598,741	0	0
WW GRAINGER INC	Common Stock	384802104	3,779	16,809	SH		SOLE		16,809	0	0
YAMANA GOLD INC	Common Stock	98462Y100	13,827	3,208,169	SH		SOLE		3,208,169	0	0
ZIMMER HOLDINGS INC	Common Stock	98956P102	274,865	2,114,021	SH		SOLE		2,114,021	0	0
ZOETIS INC	Common Stock	98978V103	369	7,102	SH		SOLE		7,102	0	0