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	180,374	942,737	SH		SOLE		942,737	0	0
ABBVIE INC	Common Stock	00287Y109	10,880	166,978	SH		SOLE		166,978	0	0
ABERCROMBIE & FITCH CO	Common Stock	002896207	5,802	486,377	SH		SOLE		486,377	0	0
ACTIVISION BLIZZARD INC	Common Stock	00507V109	20,219	405,515	SH		SOLE		405,515	0	0
ACUITY BRANDS INC	Common Stock	00508Y102	1,068	5,237	SH		SOLE		5,237	0	0
ADOBE SYSTEMS INC	Common Stock	00724F101	230	1,764	SH		SOLE		1,764	0	0
ADVANSIX INC	Common Stock	00773T101	0	1	SH		SOLE		1	0	0
AFLAC INC	Common Stock	001055102	156,311	2,158,390	SH		SOLE		2,158,390	0	0
AGNICO EAGLE MINES LTD	Common Stock	008474108	46,210	1,092,299	SH		SOLE		1,092,299	0	0
AGRIUM INC	Common Stock	008916108	2,849	29,818	SH		SOLE		29,818	0	0
AIR PRODUCTS & CHEMICALS INC	Common Stock	009158106	507	3,744	SH		SOLE		3,744	0	0
ALASKA AIR GROUP INC	Common Stock	011659109	96,770	1,049,339	SH		SOLE		1,049,339	0	0
ALBEMARLE CORP	Common Stock	012653101	272	2,571	SH		SOLE		2,571	0	0
ALCOA CORP	Common Stock	013872106	11,365	330,377	SH		SOLE		330,377	0	0
ALEXANDRIA REAL ESTATE EQUITIE	REIT	015271109	1,168	10,569	SH		SOLE		10,569	0	0
ALIBABA GROUP HOLDING LTD	ADR	01609W102	441,189	4,091,527	SH		SOLE		4,091,527	0	0
ALLEGHANY CORP	Common Stock	017175100	6,316	10,275	SH		SOLE		10,275	0	0
ALLY FINANCIAL INC	Common Stock	02005N100	108,503	5,337,095	SH		SOLE		5,337,095	0	0
ALPHABET INC	Common Stock	02079K305	526,576	621,109	SH		SOLE		621,109	0	0
ALTRIA GROUP INC	Common Stock	02209S103	138,149	1,934,320	SH		SOLE		1,934,320	0	0
AMAZON.COM INC	Common Stock	023135106	187,695	211,716	SH		SOLE		211,716	0	0
AMC NETWORKS INC	Common Stock	00164V103	53,758	916,124	SH		SOLE		916,124	0	0
AMERICAN EXPRESS CO	Common Stock	025816109	62,768	793,427	SH		SOLE		793,427	0	0
AMERICAN FINANCIAL GROUP INC/O	Common Stock	025932104	110,766	1,160,823	SH		SOLE		1,160,823	0	0
AMERICAN TOWER CORP	REIT	03027X100	1,076	8,849	SH		SOLE		8,849	0	0
AMGEN INC	Common Stock	031162100	305	1,859	SH		SOLE		1,859	0	0
ANADARKO PETROLEUM CORP	Common Stock	032511107	40,916	659,930	SH		SOLE		659,930	0	0
ANGLOGOLD ASHANTI LTD	ADR	035128206	8,450	784,597	SH		SOLE		784,597	0	0
ANHEUSER-BUSCH INBEV SA/NV	ADR	03524A108	104,898	955,700	SH		SOLE		955,700	0	0
ANTHEM INC	Common Stock	036752103	11,226	67,879	SH		SOLE		67,879	0	0
AO SMITH CORP	Common Stock	831865209	1,054	20,601	SH		SOLE		20,601	0	0
APARTMENT INVESTMENT & MANAGEM	REIT	03748R101	1,029	23,200	SH		SOLE		23,200	0	0
APPLE INC	Common Stock	037833100	150,490	1,047,540	SH		SOLE		1,047,540	0	0
ARTHUR J GALLAGHER & CO	Common Stock	363576109	11,110	196,504	SH		SOLE		196,504	0	0
AT&T INC	Common Stock	00206R102	153,066	3,683,910	SH		SOLE		3,683,910	0	0
AUTOHOME INC	ADR	05278C107	52,283	1,645,682	SH		SOLE		1,645,682	0	0
AUTOMATIC DATA PROCESSING INC	Common Stock	053015103	155,921	1,522,817	SH		SOLE		1,522,817	0	0
AVALONBAY COMMUNITIES INC	REIT	053484101	958	5,219	SH		SOLE		5,219	0	0
AVON PRODUCTS INC	Common Stock	054303102	32,399	7,363,390	SH		SOLE		7,363,390	0	0
B/E AEROSPACE INC	Common Stock	073302101	89,953	1,403,109	SH		SOLE		1,403,109	0	0
B2GOLD CORP	Common Stock	11777Q209	11,618	4,088,125	SH		SOLE		4,088,125	0	0
BAIDU INC	ADR	056752108	13,320	77,210	SH		SOLE		77,210	0	0
BANCO BRADESCO SA	ADR	059460303	77,037	7,523,119	SH		SOLE		7,523,119	0	0
BANK OF AMERICA CORP	Common Stock	060505104	248,655	10,540,710	SH		SOLE		10,540,710	0	0
BANK OF NEW YORK MELLON CORP	Common Stock	064058100	232,031	4,912,787	SH		SOLE		4,912,787	0	0
BANK OF NOVA SCOTIA/THE	Common Stock	064149107	127,792	2,190,622	SH		SOLE		2,190,622	0	0
BARRICK GOLD CORP	Common Stock	067901108	62,374	3,286,557	SH		SOLE		3,286,557	0	0
BECTON DICKINSON AND CO	Common Stock	075887109	72,989	397,892	SH		SOLE		397,892	0	0
BEST BUY CO INC	Common Stock	086516101	60,603	1,233,022	SH		SOLE		1,233,022	0	0
BIG LOTS INC	Common Stock	089302103	53,291	1,094,713	SH		SOLE		1,094,713	0	0
BOSTON PROPERTIES INC	REIT	101121101	855	6,456	SH		SOLE		6,456	0	0
BRF SA	ADR	10552T107	7,917	646,272	SH		SOLE		646,272	0	0
BRIXMOR PROPERTY GROUP INC	REIT	11120U105	1,412	65,811	SH		SOLE		65,811	0	0
CABOT OIL & GAS CORP	Common Stock	127097103	10,648	445,340	SH		SOLE		445,340	0	0
CAMECO CORP	Common Stock	13321L108	1,552	140,237	SH		SOLE		140,237	0	0
CANADIAN IMPERIAL BANK OF COMM	Common Stock	136069101	270,689	3,148,204	SH		SOLE		3,148,204	0	0
CANADIAN NATIONAL RAILWAY CO	Common Stock	136375102	11,797	159,567	SH		SOLE		159,567	0	0
CANADIAN NATURAL RESOURCES LTD	Common Stock	136385101	106,105	3,250,056	SH		SOLE		3,250,056	0	0
CANADIAN PACIFIC RAILWAY LTD	Common Stock	13645T100	11,649	79,285	SH		SOLE		79,285	0	0
CARE CAPITAL PROPERTIES INC	REIT	141624106	1,306	48,620	SH		SOLE		48,620	0	0
CARLISLE COS INC	Common Stock	142339100	150,256	1,412,050	SH		SOLE		1,412,050	0	0
CARNIVAL CORP	Common Stock	143658300	274,428	4,658,430	SH		SOLE		4,658,430	0	0
CBS CORP	Common Stock	124857202	322,133	4,644,361	SH		SOLE		4,644,361	0	0
CELANESE CORP	Common Stock	150870103	504	5,606	SH		SOLE		5,606	0	0
CELGENE CORP	Common Stock	151020104	194,490	1,563,046	SH		SOLE		1,563,046	0	0
CEMENTOS PACASMAYO SAA	ADR	15126Q208	816	72,224	SH		SOLE		72,224	0	0
CF INDUSTRIES HOLDINGS INC	Common Stock	125269100	13,741	468,168	SH		SOLE		468,168	0	0
CH ROBINSON WORLDWIDE INC	Common Stock	12541W209	4,393	56,835	SH		SOLE		56,835	0	0
CHEMED CORP	Common Stock	16359R103	76,201	417,106	SH		SOLE		417,106	0	0
CHEVRON CORP	Common Stock	166764100	72,104	671,544	SH		SOLE		671,544	0	0
CHINA LODGING GROUP LTD	ADR	16949N109	2,272	36,622	SH		SOLE		36,622	0	0
CIA DE MINAS BUENAVENTURA SAA	ADR	204448104	12,621	1,048,265	SH		SOLE		1,048,265	0	0
CIGNA CORP	Common Stock	125509109	201,484	1,375,414	SH		SOLE		1,375,414	0	0
CIMAREX ENERGY CO	Common Stock	171798101	32,737	273,971	SH		SOLE		273,971	0	0
CISCO SYSTEMS INC	Common Stock	17275R102	175,147	5,181,864	SH		SOLE		5,181,864	0	0
CITIGROUP INC	Common Stock	172967424	627,413	10,488,352	SH		SOLE		10,488,352	0	0
CITIZENS FINANCIAL GROUP INC	Common Stock	174610105	11,242	325,372	SH		SOLE		325,372	0	0
CLOROX CO/THE	Common Stock	189054109	6,131	45,471	SH		SOLE		45,471	0	0
CME GROUP INC/IL	Common Stock	12572Q105	293,015	2,466,456	SH		SOLE		2,466,456	0	0
COACH INC	Common Stock	189754104	42,166	1,020,233	SH		SOLE		1,020,233	0	0
COCA-COLA CO/THE	Common Stock	191216100	9,833	231,701	SH		SOLE		231,701	0	0
COLGATE-PALMOLIVE CO	Common Stock	194162103	225,021	3,074,478	SH		SOLE		3,074,478	0	0
COMCAST CORP	Common Stock	20030N101	189,371	5,037,799	SH		SOLE		5,037,799	0	0
CONTROLADORA VUELA CIA DE AVIA	ADR	21240E105	758	54,375	SH		SOLE		54,375	0	0
COPA HOLDINGS SA	Common Stock	P31076105	1,757	15,650	SH		SOLE		15,650	0	0
COSAN LTD	Common Stock	G25343107	46,198	5,409,598	SH		SOLE		5,409,598	0	0
CREDICORP LTD	Common Stock	G2519Y108	40,760	249,599	SH		SOLE		249,599	0	0
CSX CORP	Common Stock	126408103	11,596	249,101	SH		SOLE		249,101	0	0
CUMMINS INC	Common Stock	231021106	215,345	1,424,240	SH		SOLE		1,424,240	0	0
CYRUSONE INC	REIT	23283R100	1,148	22,303	SH		SOLE		22,303	0	0
DANAHER CORP	Common Stock	235851102	208,571	2,438,575	SH		SOLE		2,438,575	0	0
DEERE & CO	Common Stock	244199105	75,259	691,340	SH		SOLE		691,340	0	0
DELUXE CORP	Common Stock	248019101	3,982	55,181	SH		SOLE		55,181	0	0
DEVON ENERGY CORP	Common Stock	25179M103	23,863	571,980	SH		SOLE		571,980	0	0
DIGITAL REALTY TRUST INC	REIT	253868103	15,427	145,000	SH		SOLE		145,000	0	0
DOW CHEMICAL CO/THE	Common Stock	260543103	244,869	3,853,771	SH		SOLE		3,853,771	0	0
DR PEPPER SNAPPLE GROUP INC	Common Stock	26138E109	5,412	55,270	SH		SOLE		55,270	0	0
DST SYSTEMS INC	Common Stock	233326107	11,356	92,706	SH		SOLE		92,706	0	0
DUKE REALTY CORP	REIT	264411505	579	22,041	SH		SOLE		22,041	0	0
DUNKIN' BRANDS GROUP INC	Common Stock	265504100	132	2,408	SH		SOLE		2,408	0	0
EASTMAN CHEMICAL CO	Common Stock	277432100	9,885	122,340	SH		SOLE		122,340	0	0
EATON VANCE CORP	Common Stock	278265103	4,769	106,076	SH		SOLE		106,076	0	0
EBAY INC	Common Stock	278642103	274,040	8,163,239	SH		SOLE		8,163,239	0	0
ECOLAB INC	Common Stock	278865100	759	6,053	SH		SOLE		6,053	0	0
EDUCATION REALTY TRUST INC	REIT	28140H203	2,729	66,815	SH		SOLE		66,815	0	0
EI DU PONT DE NEMOURS & CO	Common Stock	263534109	1,636	20,363	SH		SOLE		20,363	0	0
EMERSON ELECTRIC CO	Common Stock	291011104	226	3,774	SH		SOLE		3,774	0	0
ENBRIDGE INC	Common Stock	29250N105	29,589	708,325	SH		SOLE		708,325	0	0
ENCANA CORP	Common Stock	292505104	11,991	1,026,414	SH		SOLE		1,026,414	0	0
ENERSIS SA	ADR	29274F104	32,954	3,171,676	SH		SOLE		3,171,676	0	0
EOG RESOURCES INC	Common Stock	26875P101	58,421	598,881	SH		SOLE		598,881	0	0
EQUITY RESIDENTIAL	REIT	29476L107	589	9,460	SH		SOLE		9,460	0	0
ESSENT GROUP LTD	Common Stock	G3198U102	7,314	202,199	SH		SOLE		202,199	0	0
ESSEX PROPERTY TRUST INC	REIT	297178105	949	4,100	SH		SOLE		4,100	0	0
ESTEE LAUDER COS INC/THE	Common Stock	518439104	3,932	46,369	SH		SOLE		46,369	0	0
EVERTEC INC	Common Stock	30040P103	2,388	150,207	SH		SOLE		150,207	0	0
EXPEDITORS INTERNATIONAL OF WA	Common Stock	302130109	5,334	94,421	SH		SOLE		94,421	0	0
EXTENDED STAY AMERICA INC	Unit	30224P200	138,438	8,684,916	SH		SOLE		8,684,916	0	0
EXTRA SPACE STORAGE INC	REIT	30225T102	1,354	18,200	SH		SOLE		18,200	0	0
EXXON MOBIL CORP	Common Stock	30231G102	51,386	626,579	SH		SOLE		626,579	0	0
F5 NETWORKS INC	Common Stock	315616102	5,661	39,706	SH		SOLE		39,706	0	0
FACTSET RESEARCH SYSTEMS INC	Common Stock	303075105	91,479	554,718	SH		SOLE		554,718	0	0
FIRST SOLAR INC	Common Stock	336433107	495	18,249	SH		SOLE		18,249	0	0
FISERV INC	Common Stock	337738108	99,392	861,959	SH		SOLE		861,959	0	0
FNF GROUP	Tracking Stk	31620R303	69,357	1,781,137	SH		SOLE		1,781,137	0	0
FRANCO-NEVADA CORP	Common Stock	351858105	21,406	327,687	SH		SOLE		327,687	0	0
GAMING AND LEISURE PROPERTIES	REIT	36467J108	38,884	1,163,485	SH		SOLE		1,163,485	0	0
GENERAL ELECTRIC CO	Common Stock	369604103	7,451	250,030	SH		SOLE		250,030	0	0
GENUINE PARTS CO	Common Stock	372460105	4,813	52,085	SH		SOLE		52,085	0	0
GEOPARK LTD	Common Stock	G38327105	177	24,631	SH		SOLE		24,631	0	0
GGP INC	REIT	36174X101	6,283	271,055	SH		SOLE		271,055	0	0
GOLD FIELDS	ADR	38059T106	9,092	2,575,503	SH		SOLE		2,575,503	0	0
GOLDCORP INC	Common Stock	380956409	19,794	1,356,677	SH		SOLE		1,356,677	0	0
GREAT WESTERN BANCORP INC	Common Stock	391416104	60,129	1,417,799	SH		SOLE		1,417,799	0	0
GREEN PLAINS INC	Common Stock	393222104	921	37,214	SH		SOLE		37,214	0	0
GRUPO AEROPORTUARIO DEL SUREST	ADR	40051E202	37,600	217,042	SH		SOLE		217,042	0	0
GRUPO FINANCIERO GALICIA SA	ADR	399909100	1,085	28,659	SH		SOLE		28,659	0	0
GRUPO SUPERVIELLE SA	ADR	40054A108	1,782	104,800	SH		SOLE		104,800	0	0
HALLIBURTON CO	Common Stock	406216101	47,910	973,576	SH		SOLE		973,576	0	0
HANNON ARMSTRONG SUSTAINABLE I	REIT	41068X100	858	42,481	SH		SOLE		42,481	0	0
HEALTHSOUTH CORP	Common Stock	421924309	9,691	226,365	SH		SOLE		226,365	0	0
HELMERICH & PAYNE INC	Common Stock	423452101	143,216	2,151,354	SH		SOLE		2,151,354	0	0
HESS CORP	Common Stock	42809H107	112,597	2,335,544	SH		SOLE		2,335,544	0	0
HEWLETT PACKARD ENTERPRISE CO	Common Stock	42824C109	161,987	6,834,892	SH		SOLE		6,834,892	0	0
HOLOGIC INC	Common Stock	436440101	72,618	1,706,642	SH		SOLE		1,706,642	0	0
HOME DEPOT INC/THE	Common Stock	437076102	5,285	35,995	SH		SOLE		35,995	0	0
HONEYWELL INTERNATIONAL INC	Common Stock	438516106	120,905	968,243	SH		SOLE		968,243	0	0
HOST HOTELS & RESORTS INC	REIT	44107P104	855	45,800	SH		SOLE		45,800	0	0
HUDSON PACIFIC PROPERTIES INC	REIT	444097109	865	24,972	SH		SOLE		24,972	0	0
IAMGOLD CORP	Common Stock	450913108	11,706	2,934,503	SH		SOLE		2,934,503	0	0
IDEX CORP	Common Stock	45167R104	6,046	64,659	SH		SOLE		64,659	0	0
ILLINOIS TOOL WORKS INC	Common Stock	452308109	40,769	307,757	SH		SOLE		307,757	0	0
INGEVITY CORP	Common Stock	45688C107	0	1	SH		SOLE		1	0	0
INTERNATIONAL BUSINESS MACHINE	Common Stock	459200101	4,657	26,741	SH		SOLE		26,741	0	0
INTERNATIONAL FLAVORS & FRAGRA	Common Stock	459506101	610	4,606	SH		SOLE		4,606	0	0
INTUIT INC	Common Stock	461202103	69,771	601,528	SH		SOLE		601,528	0	0
IPATH MSCI INDIA INDEX ETN	ETP	06739F291	4,960	66,505	SH		SOLE		66,505	0	0
IPATH S&P 500 VIX SHORT-TERM F	ETP	06740Q252	32	2,016	SH		SOLE		2,016	0	0
ISHARES IBOXX $ INVESTMENT GRA	ETP	464287242	18	155	SH		SOLE		155	0	0
ISHARES MSCI INDIA ETF	ETP	46429B598	1,028	32,664	SH		SOLE		32,664	0	0
ISHARES MSCI QATAR CAPPED ETF	ETP	46434V779	290	14,845	SH		SOLE		14,845	0	0
ISHARES MSCI SOUTH KOREA CAPPE	ETP	464286772	1,479	23,898	SH		SOLE		23,898	0	0
ISHARES MSCI TAIWAN ETF	ETP	46434G772	414	12,465	SH		SOLE		12,465	0	0
ISHARES MSCI UAE CAPPED ETF	ETP	46434V761	241	14,379	SH		SOLE		14,379	0	0
ITAU UNIBANCO HOLDING SA	ADR	465562106	26,169	2,168,092	SH		SOLE		2,168,092	0	0
ITRON INC	Common Stock	465741106	980	16,153	SH		SOLE		16,153	0	0
JACK HENRY & ASSOCIATES INC	Common Stock	426281101	6,061	65,098	SH		SOLE		65,098	0	0
JOHNSON & JOHNSON	Common Stock	478160104	632,688	5,079,788	SH		SOLE		5,079,788	0	0
KANSAS CITY SOUTHERN	Common Stock	485170302	11,417	133,130	SH		SOLE		133,130	0	0
KEYCORP	Common Stock	493267108	10,200	573,675	SH		SOLE		573,675	0	0
KILROY REALTY CORP	REIT	49427F108	670	9,300	SH		SOLE		9,300	0	0
KINROSS GOLD CORP	Common Stock	496902404	18,347	5,221,404	SH		SOLE		5,221,404	0	0
KLA-TENCOR CORP	Common Stock	482480100	11,060	116,339	SH		SOLE		116,339	0	0
LAM RESEARCH CORP	Common Stock	512807108	301,366	2,347,820	SH		SOLE		2,347,820	0	0
LANDSTAR SYSTEM INC	Common Stock	515098101	5,260	61,417	SH		SOLE		61,417	0	0
LAS VEGAS SANDS CORP	Common Stock	517834107	74,167	1,299,581	SH		SOLE		1,299,581	0	0
LEAR CORP	Common Stock	521865204	78,947	557,614	SH		SOLE		557,614	0	0
LEUCADIA NATIONAL CORP	Common Stock	527288104	67,608	2,600,291	SH		SOLE		2,600,291	0	0
LIFE STORAGE INC	REIT	53223X107	969	11,802	SH		SOLE		11,802	0	0
LINCOLN NATIONAL CORP	Common Stock	534187109	48,218	736,708	SH		SOLE		736,708	0	0
MAG SILVER CORP	Common Stock	55903Q104	4,431	339,405	SH		SOLE		339,405	0	0
MANITOWOC CO INC/THE	Common Stock	563571108	29,133	5,111,033	SH		SOLE		5,111,033	0	0
MARATHON OIL CORP	Common Stock	565849106	29,108	1,842,285	SH		SOLE		1,842,285	0	0
MARRIOTT VACATIONS WORLDWIDE C	Common Stock	57164Y107	102,057	1,021,283	SH		SOLE		1,021,283	0	0
MARSH & MCLENNAN COS INC	Common Stock	571748102	22,171	300,056	SH		SOLE		300,056	0	0
MDC HOLDINGS INC	Common Stock	552676108	10,682	355,483	SH		SOLE		355,483	0	0
MEDNAX INC	Common Stock	58502B106	80,072	1,154,102	SH		SOLE		1,154,102	0	0
MERCADOLIBRE INC	Common Stock	58733R102	305	1,444	SH		SOLE		1,444	0	0
MERCK & CO INC	Common Stock	58933Y105	7,988	125,719	SH		SOLE		125,719	0	0
MICROSOFT CORP	Common Stock	594918104	598,883	9,093,270	SH		SOLE		9,093,270	0	0
MID-AMERICA APARTMENT COMMUNIT	REIT	59522J103	701	6,894	SH		SOLE		6,894	0	0
MOBILE TELESYSTEMS PJSC	ADR	607409109	26,985	2,446,508	SH		SOLE		2,446,508	0	0
MONDELEZ INTERNATIONAL INC	Common Stock	609207105	10,852	251,911	SH		SOLE		251,911	0	0
MOODY'S CORP	Common Stock	615369105	212,273	1,894,614	SH		SOLE		1,894,614	0	0
MORGAN STANLEY INTL LTD	Common Stock	617446448	174,057	4,062,955	SH		SOLE		4,062,955	0	0
MOTOROLA SOLUTIONS INC	Common Stock	620076307	21,602	250,549	SH		SOLE		250,549	0	0
NETEASE INC	ADR	64110W102	169,576	597,099	SH		SOLE		597,099	0	0
NEW GOLD INC	Common Stock	644535106	5,031	1,690,069	SH		SOLE		1,690,069	0	0
NEW ORIENTAL EDUCATION & TECHN	ADR	647581107	99,042	1,640,315	SH		SOLE		1,640,315	0	0
NEW RESIDENTIAL INVESTMENT COR	REIT	64828T201	27,744	1,633,942	SH		SOLE		1,633,942	0	0
NEWMONT MINING CORP	Common Stock	651639106	79,413	2,409,366	SH		SOLE		2,409,366	0	0
NICE-SYSTEMS LTD	ADR	653656108	50,186	738,241	SH		SOLE		738,241	0	0
NIKE INC	Common Stock	654106103	14,848	266,429	SH		SOLE		266,429	0	0
NOBLE ENERGY INC	Common Stock	655044105	36,023	1,049,011	SH		SOLE		1,049,011	0	0
NORBORD INC	Common Stock	65548P403	11,472	404,233	SH		SOLE		404,233	0	0
NORFOLK SOUTHERN CORP	Common Stock	655844108	92,710	827,990	SH		SOLE		827,990	0	0
NORTHERN TRUST CORP	Common Stock	665859104	55,093	636,321	SH		SOLE		636,321	0	0
NORTHROP GRUMMAN CORP	Common Stock	666807102	5,651	23,758	SH		SOLE		23,758	0	0
NUCOR CORP	Common Stock	670346105	5,922	99,166	SH		SOLE		99,166	0	0
NVIDIA CORP	Common Stock	67066G104	3,677	33,753	SH		SOLE		33,753	0	0
OCCIDENTAL PETROLEUM CORP	Common Stock	674599105	13,808	217,922	SH		SOLE		217,922	0	0
ON SEMICONDUCTOR CORP	Common Stock	682189105	52,495	3,388,934	SH		SOLE		3,388,934	0	0
ORACLE CORP	Common Stock	68389X105	89,557	2,007,562	SH		SOLE		2,007,562	0	0
ORMAT TECHNOLOGIES INC	Common Stock	686688102	1,801	31,554	SH		SOLE		31,554	0	0
PAMPA ENERGIA SA	ADR	697660207	550	10,149	SH		SOLE		10,149	0	0
PAN AMERICAN SILVER CORP	Common Stock	697900108	53,440	3,050,213	SH		SOLE		3,050,213	0	0
PATTERN ENERGY GROUP INC	Common Stock	70338P100	938	46,583	SH		SOLE		46,583	0	0
PAYPAL HOLDINGS INC	Common Stock	70450Y103	392,445	9,122,388	SH		SOLE		9,122,388	0	0
PEPSICO INC	Common Stock	713448108	328,384	2,935,670	SH		SOLE		2,935,670	0	0
PFIZER INC	Common Stock	717081103	252,627	7,384,602	SH		SOLE		7,384,602	0	0
PHILIP MORRIS INTERNATIONAL IN	Common Stock	718172109	207,788	1,840,459	SH		SOLE		1,840,459	0	0
PHYSICIANS REALTY TRUST	REIT	71943U104	1,460	73,478	SH		SOLE		73,478	0	0
PIONEER NATURAL RESOURCES CO	Common Stock	723787107	41,669	223,752	SH		SOLE		223,752	0	0
PLATINUM GROUP METALS LTD	Common Stock	72765Q601	2,200	1,339,714	SH		SOLE		1,339,714	0	0
POPULAR INC	Common Stock	733174700	38,736	951,055	SH		SOLE		951,055	0	0
PPG INDUSTRIES INC	Common Stock	693506107	660	6,278	SH		SOLE		6,278	0	0
PRAXAIR INC	Common Stock	74005P104	637	5,367	SH		SOLE		5,367	0	0
PRECISION DRILLING CORP	Common Stock	74022D308	8,373	1,775,299	SH		SOLE		1,775,299	0	0
PRICELINE GROUP INC/THE	Common Stock	741503403	482,543	271,096	SH		SOLE		271,096	0	0
PROCTER & GAMBLE CO/THE	Common Stock	742718109	135,283	1,505,654	SH		SOLE		1,505,654	0	0
PROLOGIS INC	REIT	74340W103	17,209	331,700	SH		SOLE		331,700	0	0
PUBLIC SERVICE ENTERPRISE GROU	Common Stock	744573106	119,814	2,701,558	SH		SOLE		2,701,558	0	0
QEP RESOURCES INC	Common Stock	74733V100	16,544	1,301,661	SH		SOLE		1,301,661	0	0
QUALCOMM INC	Common Stock	747525103	10,284	179,348	SH		SOLE		179,348	0	0
QUEST DIAGNOSTICS INC	Common Stock	74834L100	195,614	1,992,201	SH		SOLE		1,992,201	0	0
RADIAN GROUP INC	Common Stock	750236101	102,931	5,731,122	SH		SOLE		5,731,122	0	0
REINSURANCE GROUP OF AMERICA I	Common Stock	759351604	6,265	49,340	SH		SOLE		49,340	0	0
REYNOLDS AMERICAN INC	Common Stock	761713106	24,198	383,970	SH		SOLE		383,970	0	0
Royal Gold Inc	Common Stock	780287108	5,281	75,389	SH		SOLE		75,389	0	0
RPC INC	Common Stock	749660106	14,459	789,682	SH		SOLE		789,682	0	0
S&P GLOBAL INC	Common Stock	78409V104	85,929	657,253	SH		SOLE		657,253	0	0
SCHLUMBERGER LTD	Common Stock	806857108	65,287	835,941	SH		SOLE		835,941	0	0
SCORPIO TANKERS INC	Common Stock	Y7542C106	17,047	3,839,472	SH		SOLE		3,839,472	0	0
SCRIPPS NETWORKS INTERACTIVE I	Common Stock	811065101	4,646	59,279	SH		SOLE		59,279	0	0
SEALED AIR CORP	Common Stock	81211K100	213	4,888	SH		SOLE		4,888	0	0
SHERWIN-WILLIAMS CO/THE	Common Stock	824348106	435	1,402	SH		SOLE		1,402	0	0
SIGNET JEWELERS LTD	Common Stock	G81276100	115,516	1,667,622	SH		SOLE		1,667,622	0	0
SILICON MOTION TECHNOLOGY CORP	ADR	82706C108	52,322	1,119,187	SH		SOLE		1,119,187	0	0
SILVER SPRING NETWORKS INC	Common Stock	82817Q103	881	78,015	SH		SOLE		78,015	0	0
SILVER STANDARD RESOURCES INC	Common Stock	82823L106	21,916	2,065,564	SH		SOLE		2,065,564	0	0
SIMON PROPERTY GROUP INC	REIT	828806109	20,705	120,357	SH		SOLE		120,357	0	0
SINCLAIR BROADCAST GROUP INC	Common Stock	829226109	76,213	1,881,804	SH		SOLE		1,881,804	0	0
SKYLINE CORP	Common Stock	830830105	1,362	144,620	SH		SOLE		144,620	0	0
SL GREEN REALTY CORP	REIT	78440X101	1,124	10,542	SH		SOLE		10,542	0	0
SM ENERGY CO	Common Stock	78454L100	8,658	360,461	SH		SOLE		360,461	0	0
SOLAREDGE TECHNOLOGIES INC	Common Stock	83417M104	720	46,139	SH		SOLE		46,139	0	0
SOUTHERN COPPER CORP	Common Stock	84265V105	207	5,775	SH		SOLE		5,775	0	0
SOUTHWEST AIRLINES CO	Common Stock	844741108	12,523	232,948	SH		SOLE		232,948	0	0
STAPLES INC	Common Stock	855030102	2,463	280,797	SH		SOLE		280,797	0	0
STEEL DYNAMICS INC	Common Stock	858119100	13,830	397,857	SH		SOLE		397,857	0	0
STORE CAPITAL CORP	REIT	862121100	1,106	46,312	SH		SOLE		46,312	0	0
SUNCOR ENERGY INC	Common Stock	867224107	56,593	1,848,515	SH		SOLE		1,848,515	0	0
SUNPOWER CORP	Common Stock	867652406	487	79,825	SH		SOLE		79,825	0	0
SUNTRUST BANKS INC	Common Stock	867914103	238,992	4,321,742	SH		SOLE		4,321,742	0	0
T ROWE PRICE GROUP INC	Common Stock	74144T108	4,454	65,363	SH		SOLE		65,363	0	0
TAIWAN SEMICONDUCTOR MANUFACTU	ADR	874039100	35,532	1,081,974	SH		SOLE		1,081,974	0	0
TECK RESOURCES LTD	Common Stock	878742204	11,090	508,581	SH		SOLE		508,581	0	0
TELEKOMUNIKASI INDONESIA PERSE	ADR	715684106	1,903	61,062	SH		SOLE		61,062	0	0
TERNIUM SA	ADR	880890108	29,501	1,129,458	SH		SOLE		1,129,458	0	0
THERMO FISHER SCIENTIFIC INC	Common Stock	883556102	189,568	1,234,166	SH		SOLE		1,234,166	0	0
THOR INDUSTRIES INC	Common Stock	885160101	60,519	629,551	SH		SOLE		629,551	0	0
TIFFANY & CO	Common Stock	886547108	195,746	2,053,994	SH		SOLE		2,053,994	0	0
TIME WARNER INC	Common Stock	887317303	20,010	204,791	SH		SOLE		204,791	0	0
TJX COS INC/THE	Common Stock	872540109	4,791	60,578	SH		SOLE		60,578	0	0
TRAVELERS COS INC/THE	Common Stock	89417E109	6,144	50,973	SH		SOLE		50,973	0	0
TRAVELPORT WORLDWIDE LTD	Common Stock	G9019D104	171	14,551	SH		SOLE		14,551	0	0
TWENTY-FIRST CENTURY FOX INC	Common Stock	90130A101	143,846	4,441,052	SH		SOLE		4,441,052	0	0
TYSON FOODS INC	Common Stock	902494103	34,350	556,630	SH		SOLE		556,630	0	0
ULTRAPAR PARTICIPACOES SA	ADR	90400P101	273	12,001	SH		SOLE		12,001	0	0
UNION PACIFIC CORP	Common Stock	907818108	11,756	110,989	SH		SOLE		110,989	0	0
UNITEDHEALTH GROUP INC	Common Stock	91324P102	355,226	2,165,882	SH		SOLE		2,165,882	0	0
UNUM GROUP	Common Stock	91529Y106	89,666	1,912,259	SH		SOLE		1,912,259	0	0
US SILICA HOLDINGS INC	Common Stock	90346E103	16,333	340,345	SH		SOLE		340,345	0	0
VALERO ENERGY CORP	Common Stock	91913Y100	260,924	3,936,105	SH		SOLE		3,936,105	0	0
VALIDUS HOLDINGS LTD	Common Stock	G9319H102	6,018	106,724	SH		SOLE		106,724	0	0
VANECK VECTORS GOLD MINERS ETF	ETP	92189F106	21,156	927,472	SH		SOLE		927,472	0	0
VANTIV INC	Common Stock	92210H105	225,510	3,516,995	SH		SOLE		3,516,995	0	0
VENTAS INC	REIT	92276F100	13,937	214,283	SH		SOLE		214,283	0	0
VERISIGN INC	Common Stock	92343E102	195,060	2,239,238	SH		SOLE		2,239,238	0	0
VERSUM MATERIALS INC	Common Stock	92532W103	70	2,272	SH		SOLE		2,272	0	0
VIACOM INC	Common Stock	92553P201	2,334	50,058	SH		SOLE		50,058	0	0
VISA INC	Common Stock	92826C839	310,859	3,497,909	SH		SOLE		3,497,909	0	0
VISTEON CORP	Common Stock	92839U206	37,309	380,898	SH		SOLE		380,898	0	0
VMWARE INC	Common Stock	928563402	238,696	2,590,584	SH		SOLE		2,590,584	0	0
VOYA FINANCIAL INC	Common Stock	929089100	122,696	3,232,237	SH		SOLE		3,232,237	0	0
WAL-MART STORES INC	Common Stock	931142103	24,945	346,069	SH		SOLE		346,069	0	0
WASHINGTON FEDERAL INC	Common Stock	938824109	58,030	1,753,162	SH		SOLE		1,753,162	0	0
WEIGHT WATCHERS INTERNATIONAL	Common Stock	948626106	5,608	360,163	SH		SOLE		360,163	0	0
WELBILT INC	Common Stock	949090104	134,818	6,867,970	SH		SOLE		6,867,970	0	0
WELLS FARGO & CO	Common Stock	949746101	5,145	92,438	SH		SOLE		92,438	0	0
WESCO INTERNATIONAL INC	Common Stock	95082P105	61,663	886,598	SH		SOLE		886,598	0	0
WESTERN UNION CO/THE	Common Stock	959802109	89,971	4,421,161	SH		SOLE		4,421,161	0	0
WESTROCK CO	Common Stock	96145D105	81,950	1,575,056	SH		SOLE		1,575,056	0	0
WHITING PETROLEUM CORP	Common Stock	966387102	14,840	1,568,662	SH		SOLE		1,568,662	0	0
WW GRAINGER INC	Common Stock	384802104	4,934	21,197	SH		SOLE		21,197	0	0
YAMANA GOLD INC	Common Stock	98462Y100	12,367	4,480,649	SH		SOLE		4,480,649	0	0
ZIMMER HOLDINGS INC	Common Stock	98956P102	252,595	2,068,589	SH		SOLE		2,068,589	0	0
ZOETIS INC	Common Stock	98978V103	8,204	153,710	SH		SOLE		153,710	0	0