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

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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	196,153	942,182	SH		SOLE		942,182	0	0
ABBOTT LABORATORIES	Common Stock	002824100	9,822	202,059	SH		SOLE		202,059	0	0
ABBVIE INC	Common Stock	00287Y109	15,251	210,331	SH		SOLE		210,331	0	0
ABERCROMBIE & FITCH CO	Common Stock	002896207	4,342	349,068	SH		SOLE		349,068	0	0
ACTIVISION BLIZZARD INC	Common Stock	00507V109	13,371	232,253	SH		SOLE		232,253	0	0
ACUITY BRANDS INC	Common Stock	00508Y102	1,563	7,689	SH		SOLE		7,689	0	0
ADOBE SYSTEMS INC	Common Stock	00724F101	250	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	167,113	2,151,303	SH		SOLE		2,151,303	0	0
AGNICO EAGLE MINES LTD	Common Stock	008474108	49,556	1,100,510	SH		SOLE		1,100,510	0	0
AGRIUM INC	Common Stock	008916108	3,456	38,189	SH		SOLE		38,189	0	0
AIR PRODUCTS & CHEMICALS INC	Common Stock	009158106	536	3,744	SH		SOLE		3,744	0	0
ALARM.COM HOLDINGS INC	Common Stock	011642105	4,154	110,388	SH		SOLE		110,388	0	0
ALASKA AIR GROUP INC	Common Stock	011659109	93,658	1,043,429	SH		SOLE		1,043,429	0	0
ALBEMARLE CORP	Common Stock	012653101	271	2,571	SH		SOLE		2,571	0	0
ALCOA CORP	Common Stock	013872106	22,616	692,688	SH		SOLE		692,688	0	0
ALEXANDRIA REAL ESTATE EQUITIE	REIT	015271109	1,418	11,769	SH		SOLE		11,769	0	0
ALIBABA GROUP HOLDING LTD	ADR	01609W102	597,632	4,241,531	SH		SOLE		4,241,531	0	0
ALLEGHANY CORP	Common Stock	017175100	6,112	10,275	SH		SOLE		10,275	0	0
ALLY FINANCIAL INC	Common Stock	02005N100	113,863	5,448,004	SH		SOLE		5,448,004	0	0
ALPHABET INC	Common Stock	02079K107	13,917	15,315	SH		SOLE		15,315	0	0
ALPHABET INC	Common Stock	02079K305	569,955	613,066	SH		SOLE		613,066	0	0
ALTRIA GROUP INC	Common Stock	02209S103	136,318	1,830,514	SH		SOLE		1,830,514	0	0
AMAZON.COM INC	Common Stock	023135106	239,451	247,367	SH		SOLE		247,367	0	0
AMBEV SA	ADR	02319V103	593	107,949	SH		SOLE		107,949	0	0
AMC NETWORKS INC	Common Stock	00164V103	66,271	1,240,793	SH		SOLE		1,240,793	0	0
AMERICAN EXPRESS CO	Common Stock	025816109	51,135	607,018	SH		SOLE		607,018	0	0
AMERICAN FINANCIAL GROUP INC/O	Common Stock	025932104	114,563	1,152,894	SH		SOLE		1,152,894	0	0
AMERICAN TOWER CORP	REIT	03027X100	1,305	9,863	SH		SOLE		9,863	0	0
AMGEN INC	Common Stock	031162100	3,783	21,967	SH		SOLE		21,967	0	0
ANADARKO PETROLEUM CORP	Common Stock	032511107	22,252	490,786	SH		SOLE		490,786	0	0
ANGLOGOLD ASHANTI LTD	ADR	035128206	4,518	464,797	SH		SOLE		464,797	0	0
ANHEUSER-BUSCH INBEV SA/NV	ADR	03524A108	105,471	955,700	SH		SOLE		955,700	0	0
ANTHEM INC	Common Stock	036752103	7,682	40,834	SH		SOLE		40,834	0	0
AO SMITH CORP	Common Stock	831865209	1,574	27,935	SH		SOLE		27,935	0	0
APARTMENT INVESTMENT & MANAGEM	REIT	03748R101	786	18,300	SH		SOLE		18,300	0	0
APPLE INC	Common Stock	037833100	150,424	1,044,466	SH		SOLE		1,044,466	0	0
ARCOS DORADOS HOLDINGS INC	Common Stock	G0457F107	3,700	496,667	SH		SOLE		496,667	0	0
ARTHUR J GALLAGHER & CO	Common Stock	363576109	10,241	178,883	SH		SOLE		178,883	0	0
AT&T INC	Common Stock	00206R102	136,502	3,617,859	SH		SOLE		3,617,859	0	0
AUTOHOME INC	ADR	05278C107	90,226	1,989,109	SH		SOLE		1,989,109	0	0
AUTOMATIC DATA PROCESSING INC	Common Stock	053015103	138,707	1,353,769	SH		SOLE		1,353,769	0	0
AUTOZONE INC	Common Stock	053332102	6,212	10,889	SH		SOLE		10,889	0	0
AVALONBAY COMMUNITIES INC	REIT	053484101	965	5,019	SH		SOLE		5,019	0	0
AVON PRODUCTS INC	Common Stock	054303102	27,357	7,199,336	SH		SOLE		7,199,336	0	0
B2GOLD CORP	Common Stock	11777Q209	22,508	8,008,431	SH		SOLE		8,008,431	0	0
BAIDU INC	ADR	056752108	6,357	35,542	SH		SOLE		35,542	0	0
BANCO BRADESCO SA	ADR	059460303	74,502	8,764,976	SH		SOLE		8,764,976	0	0
BANCOLOMBIA SA	ADR	05968L102	2,634	59,121	SH		SOLE		59,121	0	0
BANK OF AMERICA CORP	Common Stock	060505104	431,157	17,772,325	SH		SOLE		17,772,325	0	0
BANK OF NEW YORK MELLON CORP	Common Stock	064058100	292,979	5,742,444	SH		SOLE		5,742,444	0	0
BANK OF NOVA SCOTIA/THE	Common Stock	064149107	152,455	2,538,054	SH		SOLE		2,538,054	0	0
BARRICK GOLD CORP	Common Stock	067901108	24,477	1,539,186	SH		SOLE		1,539,186	0	0
BECTON DICKINSON AND CO	Common Stock	075887109	88,898	455,628	SH		SOLE		455,628	0	0
BIG LOTS INC	Common Stock	089302103	52,532	1,087,621	SH		SOLE		1,087,621	0	0
BOSTON PROPERTIES INC	REIT	101121101	880	7,156	SH		SOLE		7,156	0	0
BRIXMOR PROPERTY GROUP INC	REIT	11120U105	1,022	57,179	SH		SOLE		57,179	0	0
BUNGE LTD	Common Stock	G16962105	5,876	78,763	SH		SOLE		78,763	0	0
CAMECO CORP	Common Stock	13321L108	1,276	140,237	SH		SOLE		140,237	0	0
CANADIAN IMPERIAL BANK OF COMM	Common Stock	136069101	261,315	3,220,130	SH		SOLE		3,220,130	0	0
CANADIAN NATIONAL RAILWAY CO	Common Stock	136375102	33,152	409,026	SH		SOLE		409,026	0	0
CANADIAN NATURAL RESOURCES LTD	Common Stock	136385101	92,984	3,227,104	SH		SOLE		3,227,104	0	0
CANADIAN PACIFIC RAILWAY LTD	Common Stock	13645T100	32,478	201,965	SH		SOLE		201,965	0	0
CAPITAL ONE FINANCIAL CORP	Common Stock	14040H105	11,598	140,374	SH		SOLE		140,374	0	0
CARE CAPITAL PROPERTIES INC	REIT	141624106	1,298	48,620	SH		SOLE		48,620	0	0
CARNIVAL CORP	Common Stock	143658300	325,332	4,961,591	SH		SOLE		4,961,591	0	0
CBS CORP	Common Stock	124857202	309,425	4,851,448	SH		SOLE		4,851,448	0	0
CELANESE CORP	Common Stock	150870103	532	5,606	SH		SOLE		5,606	0	0
CELGENE CORP	Common Stock	151020104	202,432	1,558,729	SH		SOLE		1,558,729	0	0
CEMENTOS PACASMAYO SAA	ADR	15126Q208	2,451	214,475	SH		SOLE		214,475	0	0
CEMEX SAB DE CV	ADR	151290889	80,758	8,573,001	SH		SOLE		8,573,001	0	0
CH ROBINSON WORLDWIDE INC	Common Stock	12541W209	7,413	107,929	SH		SOLE		107,929	0	0
CHEMED CORP	Common Stock	16359R103	64,941	317,514	SH		SOLE		317,514	0	0
CHEVRON CORP	Common Stock	166764100	70,310	673,919	SH		SOLE		673,919	0	0
CHINA LODGING GROUP LTD	ADR	16949N109	2,232	27,662	SH		SOLE		27,662	0	0
CIA DE MINAS BUENAVENTURA SAA	ADR	204448104	447	38,865	SH		SOLE		38,865	0	0
CIGNA CORP	Common Stock	125509109	228,604	1,365,694	SH		SOLE		1,365,694	0	0
CIMAREX ENERGY CO	Common Stock	171798101	27,833	296,060	SH		SOLE		296,060	0	0
CISCO SYSTEMS INC	Common Stock	17275R102	21,911	700,020	SH		SOLE		700,020	0	0
CITIGROUP INC	Common Stock	172967424	685,929	10,256,107	SH		SOLE		10,256,107	0	0
CITIZENS FINANCIAL GROUP INC	Common Stock	174610105	10,558	295,916	SH		SOLE		295,916	0	0
CME GROUP INC/IL	Common Stock	12572Q105	308,293	2,461,616	SH		SOLE		2,461,616	0	0
COACH INC	Common Stock	189754104	36,264	766,042	SH		SOLE		766,042	0	0
COCA-COLA CO/THE	Common Stock	191216100	11,924	265,854	SH		SOLE		265,854	0	0
COEUR MINING INC	Common Stock	192108504	28,801	3,356,752	SH		SOLE		3,356,752	0	0
COLGATE-PALMOLIVE CO	Common Stock	194162103	219,550	2,961,683	SH		SOLE		2,961,683	0	0
COLONY NORTHSTAR INC	REIT	19625W104	1,428	101,376	SH		SOLE		101,376	0	0
COMCAST CORP	Common Stock	20030N101	201,731	5,183,212	SH		SOLE		5,183,212	0	0
CONTROLADORA VUELA CIA DE AVIA	ADR	02124E109	3,256	223,750	SH		SOLE		223,750	0	0
COPA HOLDINGS SA	Common Stock	P31076105	1,831	15,650	SH		SOLE		15,650	0	0
COSAN LTD	Common Stock	G25343107	34,422	5,370,072	SH		SOLE		5,370,072	0	0
CREDICORP LTD	Common Stock	G2519Y108	36,017	200,775	SH		SOLE		200,775	0	0
CSX CORP	Common Stock	126408103	27,363	501,515	SH		SOLE		501,515	0	0
CUMMINS INC	Common Stock	231021106	274,194	1,690,259	SH		SOLE		1,690,259	0	0
CYRUSONE INC	REIT	23283R100	1,266	22,717	SH		SOLE		22,717	0	0
DANAHER CORP	Common Stock	235851102	204,695	2,425,587	SH		SOLE		2,425,587	0	0
DCT INDUSTRIAL TRUST INC	REIT	233153204	715	13,373	SH		SOLE		13,373	0	0
DEERE & CO	Common Stock	244199105	66,192	535,577	SH		SOLE		535,577	0	0
DELUXE CORP	Common Stock	248019101	7,661	110,678	SH		SOLE		110,678	0	0
DEVON ENERGY CORP	Common Stock	25179M103	20,435	639,187	SH		SOLE		639,187	0	0
DIGITAL REALTY TRUST INC	REIT	253868103	16,378	145,000	SH		SOLE		145,000	0	0
DISCOVER FINANCIAL SERVICES	Common Stock	254709108	11,740	188,775	SH		SOLE		188,775	0	0
DOW CHEMICAL CO/THE	Common Stock	260543103	264,131	4,187,904	SH		SOLE		4,187,904	0	0
DR PEPPER SNAPPLE GROUP INC	Common Stock	26138E113	12,311	135,120	SH		SOLE		135,120	0	0
DST SYSTEMS INC	Common Stock	233326107	6,882	111,533	SH		SOLE		111,533	0	0
DUNKIN' BRANDS GROUP INC	Common Stock	265504100	133	2,408	SH		SOLE		2,408	0	0
DXC TECHNOLOGY CO	Common Stock	23355L106	115,960	1,511,464	SH		SOLE		1,511,464	0	0
EASTMAN CHEMICAL CO	Common Stock	277432100	10,722	127,656	SH		SOLE		127,656	0	0
EATON VANCE CORP	Common Stock	278265103	6,311	133,366	SH		SOLE		133,366	0	0
EBAY INC	Common Stock	278642103	226,952	6,499,208	SH		SOLE		6,499,208	0	0
ECOLAB INC	Common Stock	278865100	804	6,053	SH		SOLE		6,053	0	0
EDUCATION REALTY TRUST INC	REIT	28140H203	3,836	98,990	SH		SOLE		98,990	0	0
EI DU PONT DE NEMOURS & CO	Common Stock	263534109	1,489	18,450	SH		SOLE		18,450	0	0
ELECTRONIC ARTS INC	Common Stock	285512109	4,891	46,262	SH		SOLE		46,262	0	0
ENBRIDGE INC	Common Stock	29250N105	27,721	696,896	SH		SOLE		696,896	0	0
ENCANA CORP	Common Stock	292505104	10,446	1,188,957	SH		SOLE		1,188,957	0	0
ENERSIS SA	ADR	29274F104	32,229	3,417,746	SH		SOLE		3,417,746	0	0
EOG RESOURCES INC	Common Stock	26875P101	53,895	595,394	SH		SOLE		595,394	0	0
EQUITY RESIDENTIAL	REIT	29476L107	893	13,560	SH		SOLE		13,560	0	0
ESSENT GROUP LTD	Common Stock	G3198U102	7,793	209,823	SH		SOLE		209,823	0	0
ESSEX PROPERTY TRUST INC	REIT	297178105	1,183	4,600	SH		SOLE		4,600	0	0
ESTEE LAUDER COS INC/THE	Common Stock	518439104	9,685	100,905	SH		SOLE		100,905	0	0
EXPEDITORS INTERNATIONAL OF WA	Common Stock	302130109	8,269	146,411	SH		SOLE		146,411	0	0
EXTENDED STAY AMERICA INC	Unit	30224P200	171,806	8,874,263	SH		SOLE		8,874,263	0	0
EXTRA SPACE STORAGE INC	REIT	30225T102	1,583	20,300	SH		SOLE		20,300	0	0
EXXON MOBIL CORP	Common Stock	30231G102	48,693	603,161	SH		SOLE		603,161	0	0
F5 NETWORKS INC	Common Stock	315616102	6,736	53,012	SH		SOLE		53,012	0	0
FACEBOOK INC	Common Stock	30303M102	243,052	1,609,831	SH		SOLE		1,609,831	0	0
FACTSET RESEARCH SYSTEMS INC	Common Stock	303075105	98,809	594,590	SH		SOLE		594,590	0	0
FIRST SOLAR INC	Common Stock	336433107	1,300	32,603	SH		SOLE		32,603	0	0
FISERV INC	Common Stock	337738108	104,486	854,061	SH		SOLE		854,061	0	0
FNF GROUP	Tracking Stk	31620R303	79,130	1,765,116	SH		SOLE		1,765,116	0	0
FOMENTO ECONOMICO MEXICANO SAB	ADR	344419106	1,231	12,516	SH		SOLE		12,516	0	0
GAMING AND LEISURE PROPERTIES	REIT	36467J108	52,250	1,387,054	SH		SOLE		1,387,054	0	0
GENUINE PARTS CO	Common Stock	372460105	8,689	93,668	SH		SOLE		93,668	0	0
GEOPARK LTD	Common Stock	G38327105	387	51,247	SH		SOLE		51,247	0	0
GGP INC	REIT	36174X101	6,324	268,408	SH		SOLE		268,408	0	0
GILEAD SCIENCES INC	Common Stock	375558103	6,675	94,307	SH		SOLE		94,307	0	0
GLOBAL X SILVER MINERS ETF	ETP	37954Y848	22,619	666,250	SH		SOLE		666,250	0	0
GOLD FIELDS	ADR	38059T106	5,269	1,514,003	SH		SOLE		1,514,003	0	0
GRUPO AEROPORTUARIO DEL CENTRO	ADR	400501102	414	8,600	SH		SOLE		8,600	0	0
GRUPO AEROPORTUARIO DEL SUREST	ADR	40051E206	48,736	231,634	SH		SOLE		231,634	0	0
GRUPO FINANCIERO GALICIA SA	ADR	399909100	1,706	40,003	SH		SOLE		40,003	0	0
GRUPO SUPERVIELLE SA	ADR	40054A108	5,914	327,100	SH		SOLE		327,100	0	0
HALLIBURTON CO	Common Stock	406216101	38,874	910,183	SH		SOLE		910,183	0	0
HANNON ARMSTRONG SUSTAINABLE I	REIT	41068X100	1,431	62,581	SH		SOLE		62,581	0	0
HEALTHSOUTH CORP	Common Stock	421924309	8,951	184,937	SH		SOLE		184,937	0	0
HELMERICH & PAYNE INC	Common Stock	423452101	116,448	2,142,957	SH		SOLE		2,142,957	0	0
HESS CORP	Common Stock	42809H107	103,569	2,360,823	SH		SOLE		2,360,823	0	0
HIBBETT SPORTS INC	Common Stock	428567101	303	14,581	SH		SOLE		14,581	0	0
HOLOGIC INC	Common Stock	436440101	77,206	1,701,323	SH		SOLE		1,701,323	0	0
HOME DEPOT INC/THE	Common Stock	437076102	9,726	63,400	SH		SOLE		63,400	0	0
HONEYWELL INTERNATIONAL INC	Common Stock	438516106	199,635	1,497,747	SH		SOLE		1,497,747	0	0
HOST HOTELS & RESORTS INC	REIT	44107P104	879	48,100	SH		SOLE		48,100	0	0
HUDSON PACIFIC PROPERTIES INC	REIT	444097109	844	24,672	SH		SOLE		24,672	0	0
IAMGOLD CORP	Common Stock	450913108	18,332	3,558,772	SH		SOLE		3,558,772	0	0
ILLINOIS TOOL WORKS INC	Common Stock	452308109	41,255	287,995	SH		SOLE		287,995	0	0
INGEVITY CORP	Common Stock	45688C107	0	1	SH		SOLE		1	0	0
INTERNATIONAL FLAVORS & FRAGRA	Common Stock	459506101	622	4,606	SH		SOLE		4,606	0	0
INTUIT INC	Common Stock	461202103	93,547	704,364	SH		SOLE		704,364	0	0
IPATH S&P 500 VIX SHORT-TERM F	ETP	06740Q252	26	2,016	SH		SOLE		2,016	0	0
ISHARES IBOXX $ INVESTMENT GRA	ETP	464287242	19	155	SH		SOLE		155	0	0
ITAU UNIBANCO HOLDING SA	ADR	465562106	25,384	2,297,203	SH		SOLE		2,297,203	0	0
ITRON INC	Common Stock	465741106	1,484	21,904	SH		SOLE		21,904	0	0
JACK HENRY & ASSOCIATES INC	Common Stock	426281101	13,450	129,484	SH		SOLE		129,484	0	0
JOHNSON & JOHNSON	Common Stock	478160104	668,967	5,056,825	SH		SOLE		5,056,825	0	0
KANSAS CITY SOUTHERN	Common Stock	485170302	28,211	269,574	SH		SOLE		269,574	0	0
KB FINANCIAL GROUP INC	ADR	48241A105	24	472	SH		SOLE		472	0	0
KEYCORP	Common Stock	493267108	9,786	522,199	SH		SOLE		522,199	0	0
KILROY REALTY CORP	REIT	49427F108	571	7,600	SH		SOLE		7,600	0	0
KINROSS GOLD CORP	Common Stock	496902404	11,263	2,775,551	SH		SOLE		2,775,551	0	0
KLA-TENCOR CORP	Common Stock	482480100	9,697	105,962	SH		SOLE		105,962	0	0
KLONDEX MINES LTD	Common Stock	498696103	1,499	445,588	SH		SOLE		445,588	0	0
KROGER CO/THE	Common Stock	501044101	2,424	103,938	SH		SOLE		103,938	0	0
LAM RESEARCH CORP	Common Stock	512807108	202,830	1,434,136	SH		SOLE		1,434,136	0	0
LANDSTAR SYSTEM INC	Common Stock	515098101	6,816	79,623	SH		SOLE		79,623	0	0
LAS VEGAS SANDS CORP	Common Stock	517834107	115,015	1,800,200	SH		SOLE		1,800,200	0	0
LEAR CORP	Common Stock	521865204	86,248	607,040	SH		SOLE		607,040	0	0
LEUCADIA NATIONAL CORP	Common Stock	527288104	54,555	2,085,435	SH		SOLE		2,085,435	0	0
LIFE STORAGE INC	REIT	53223X107	978	13,202	SH		SOLE		13,202	0	0
LINCOLN NATIONAL CORP	Common Stock	534187109	52,931	783,239	SH		SOLE		783,239	0	0
LOCKHEED MARTIN CORP	Common Stock	539830109	10,581	38,116	SH		SOLE		38,116	0	0
MAG SILVER CORP	Common Stock	55903Q104	5,086	390,134	SH		SOLE		390,134	0	0
MANITOWOC CO INC/THE	Common Stock	563571108	25,335	4,215,404	SH		SOLE		4,215,404	0	0
MARATHON OIL CORP	Common Stock	565849106	21,234	1,791,928	SH		SOLE		1,791,928	0	0
MARSH & MCLENNAN COS INC	Common Stock	571748102	20,405	261,733	SH		SOLE		261,733	0	0
MASTERCARD INC	Common Stock	57636Q104	13,557	111,625	SH		SOLE		111,625	0	0
MDC HOLDINGS INC	Common Stock	552676108	7,559	213,965	SH		SOLE		213,965	0	0
MERCADOLIBRE INC	Common Stock	58733R102	678	2,701	SH		SOLE		2,701	0	0
MERCK & CO INC	Common Stock	58933Y105	4,847	75,625	SH		SOLE		75,625	0	0
MICROSOFT CORP	Common Stock	594918104	730,513	10,597,897	SH		SOLE		10,597,897	0	0
MID-AMERICA APARTMENT COMMUNIT	REIT	59522J103	810	7,684	SH		SOLE		7,684	0	0
MONDELEZ INTERNATIONAL INC	Common Stock	609207105	11,671	270,235	SH		SOLE		270,235	0	0
MONSANTO CO	Common Stock	61166W101	17,216	145,451	SH		SOLE		145,451	0	0
MOODY'S CORP	Common Stock	615369105	235,967	1,939,241	SH		SOLE		1,939,241	0	0
MORGAN STANLEY INTL LTD	Common Stock	617446448	183,093	4,108,903	SH		SOLE		4,108,903	0	0
MOTOROLA SOLUTIONS INC	Common Stock	620076307	13,074	150,721	SH		SOLE		150,721	0	0
MSCI INC	Equity / Common Stock	55354G100	4,278	41,538	SH		SOLE		41,538	0	0
NETEASE INC	ADR	64110W102	167,129	555,930	SH		SOLE		555,930	0	0
NETSHOES CAYMAN LTD	Common Stock	G6455X107	3,576	187,896	SH		SOLE		187,896	0	0
NEW ORIENTAL EDUCATION & TECHN	ADR	647581107	120,735	1,712,803	SH		SOLE		1,712,803	0	0
NEW RESIDENTIAL INVESTMENT COR	REIT	64828T201	22,677	1,457,390	SH		SOLE		1,457,390	0	0
NEWMONT MINING CORP	Common Stock	651639106	62,933	1,942,982	SH		SOLE		1,942,982	0	0
NICE-SYSTEMS LTD	ADR	653656108	59,222	752,316	SH		SOLE		752,316	0	0
NIKE INC	Common Stock	654106103	8,473	143,610	SH		SOLE		143,610	0	0
NOBLE ENERGY INC	Common Stock	655044105	28,917	1,021,792	SH		SOLE		1,021,792	0	0
NORBORD INC	Common Stock	65548P403	14,311	460,378	SH		SOLE		460,378	0	0
NORFOLK SOUTHERN CORP	Common Stock	655844108	185,161	1,521,453	SH		SOLE		1,521,453	0	0
NORTHERN TRUST CORP	Common Stock	665859104	49,366	507,828	SH		SOLE		507,828	0	0
NORTHROP GRUMMAN CORP	Common Stock	666807102	10,698	41,673	SH		SOLE		41,673	0	0
NVIDIA CORP	Common Stock	67066G104	4,879	33,753	SH		SOLE		33,753	0	0
ON SEMICONDUCTOR CORP	Common Stock	682189105	50,849	3,621,756	SH		SOLE		3,621,756	0	0
ORACLE CORP	Common Stock	68389X105	99,194	1,978,332	SH		SOLE		1,978,332	0	0
ORMAT TECHNOLOGIES INC	Common Stock	686688102	2,511	42,787	SH		SOLE		42,787	0	0
PAMPA ENERGIA SA	ADR	697660207	1,266	21,508	SH		SOLE		21,508	0	0
PAN AMERICAN SILVER CORP	Common Stock	697900108	37,246	2,214,415	SH		SOLE		2,214,415	0	0
PARSLEY ENERGY INC	Common Stock	701877102	8,257	297,559	SH		SOLE		297,559	0	0
PATTERN ENERGY GROUP INC	Common Stock	70338P100	1,625	68,147	SH		SOLE		68,147	0	0
PATTERSON-UTI ENERGY INC	Common Stock	703481101	14,461	716,246	SH		SOLE		716,246	0	0
PAYPAL HOLDINGS INC	Common Stock	70450Y103	485,451	9,045,102	SH		SOLE		9,045,102	0	0
PEPSICO INC	Common Stock	713448108	347,200	3,006,323	SH		SOLE		3,006,323	0	0
PETROLEO BRASILEIRO SA	ADR	71654V408	288	36,000	SH		SOLE		36,000	0	0
PFIZER INC	Common Stock	717081103	173,389	5,161,929	SH		SOLE		5,161,929	0	0
PHILIP MORRIS INTERNATIONAL IN	Common Stock	718172109	224,993	1,915,650	SH		SOLE		1,915,650	0	0
PHYSICIANS REALTY TRUST	REIT	71943U104	1,649	81,899	SH		SOLE		81,899	0	0
PIONEER NATURAL RESOURCES CO	Common Stock	723787107	37,659	235,991	SH		SOLE		235,991	0	0
PLATINUM GROUP METALS LTD	Common Stock	72765Q601	1,124	1,339,714	SH		SOLE		1,339,714	0	0
POPULAR INC	Common Stock	733174700	41,026	983,590	SH		SOLE		983,590	0	0
POSCO	ADR	693483109	989	15,800	SH		SOLE		15,800	0	0
PPG INDUSTRIES INC	Common Stock	693506107	690	6,278	SH		SOLE		6,278	0	0
PRAXAIR INC	Common Stock	74005P104	711	5,367	SH		SOLE		5,367	0	0
PRETIUM RESOURCES INC	Common Stock	74139C102	2,718	283,285	SH		SOLE		283,285	0	0
PRICELINE GROUP INC/THE	Common Stock	741503403	578,829	309,448	SH		SOLE		309,448	0	0
PROCTER & GAMBLE CO/THE	Common Stock	742718109	123,170	1,413,316	SH		SOLE		1,413,316	0	0
PROLOGIS INC	REIT	74340W103	22,477	383,300	SH		SOLE		383,300	0	0
PUBLIC SERVICE ENTERPRISE GROU	Common Stock	744573106	431	10,032	SH		SOLE		10,032	0	0
QEP RESOURCES INC	Common Stock	74733V100	13,585	1,345,057	SH		SOLE		1,345,057	0	0
QUALCOMM INC	Common Stock	747525103	11,395	206,351	SH		SOLE		206,351	0	0
QUEST DIAGNOSTICS INC	Common Stock	74834L100	242,182	2,178,678	SH		SOLE		2,178,678	0	0
RADIAN GROUP INC	Common Stock	750236101	58,338	3,568,067	SH		SOLE		3,568,067	0	0
REINSURANCE GROUP OF AMERICA I	Common Stock	759351604	6,335	49,340	SH		SOLE		49,340	0	0
REYNOLDS AMERICAN INC	Common Stock	761713106	21,883	336,454	SH		SOLE		336,454	0	0
RPC INC	Common Stock	749660106	24,370	1,205,839	SH		SOLE		1,205,839	0	0
S&P GLOBAL INC	Common Stock	78409V104	115,443	790,762	SH		SOLE		790,762	0	0
SANDSTORM GOLD LTD	Common Stock	80013R206	9,638	2,490,428	SH		SOLE		2,490,428	0	0
SCHLUMBERGER LTD	Common Stock	806857108	47,063	714,816	SH		SOLE		714,816	0	0
SCORPIO TANKERS INC	Common Stock	Y7542C106	16,201	4,080,901	SH		SOLE		4,080,901	0	0
SCRIPPS NETWORKS INTERACTIVE I	Common Stock	811065101	5,098	74,624	SH		SOLE		74,624	0	0
SEALED AIR CORP	Common Stock	81211K100	219	4,888	SH		SOLE		4,888	0	0
SERVICENOW INC	Common Stock	81762P102	4,942	46,621	SH		SOLE		46,621	0	0
SHERWIN-WILLIAMS CO/THE	Common Stock	824348106	492	1,402	SH		SOLE		1,402	0	0
SIGNET JEWELERS LTD	Common Stock	G81276100	120,335	1,902,829	SH		SOLE		1,902,829	0	0
SILICON MOTION TECHNOLOGY CORP	ADR	82706C108	79,040	1,638,818	SH		SOLE		1,638,818	0	0
SILVER SPRING NETWORKS INC	Common Stock	82817Q103	1,193	105,788	SH		SOLE		105,788	0	0
SILVER STANDARD RESOURCES INC	Common Stock	82823L106	28,985	2,985,032	SH		SOLE		2,985,032	0	0
SIMON PROPERTY GROUP INC	REIT	828806109	20,375	125,957	SH		SOLE		125,957	0	0
SKYLINE CORP	Common Stock	830830105	871	144,620	SH		SOLE		144,620	0	0
SL GREEN REALTY CORP	REIT	78440X101	1,285	12,142	SH		SOLE		12,142	0	0
SM ENERGY CO	Common Stock	78454L100	7,500	453,736	SH		SOLE		453,736	0	0
SOLAREDGE TECHNOLOGIES INC	Common Stock	83417M104	1,251	62,568	SH		SOLE		62,568	0	0
SOUTHWEST AIRLINES CO	Common Stock	844741108	8,708	140,135	SH		SOLE		140,135	0	0
STAPLES INC	Common Stock	855030102	2,828	280,797	SH		SOLE		280,797	0	0
STEEL DYNAMICS INC	Common Stock	858119100	9,912	276,783	SH		SOLE		276,783	0	0
STORE CAPITAL CORP	REIT	862121100	1,159	51,619	SH		SOLE		51,619	0	0
STRYKER CORP	Common Stock	863667101	5,415	39,015	SH		SOLE		39,015	0	0
SUNCOR ENERGY INC	Common Stock	867224107	43,626	1,495,309	SH		SOLE		1,495,309	0	0
SUNPOWER CORP	Common Stock	867652406	1,011	108,243	SH		SOLE		108,243	0	0
SUNTRUST BANKS INC	Common Stock	867914103	244,144	4,304,365	SH		SOLE		4,304,365	0	0
SYNCHRONY FINANCIAL	Common Stock	87165B103	11,917	399,639	SH		SOLE		399,639	0	0
TAHOE RESOURCES INC	Common Stock	873868103	21,309	2,475,355	SH		SOLE		2,475,355	0	0
TAIWAN SEMICONDUCTOR MANUFACTU	ADR	874039100	23,058	659,546	SH		SOLE		659,546	0	0
TAKE-TWO INTERACTIVE SOFTWARE	Common Stock	874054109	5,494	74,870	SH		SOLE		74,870	0	0
TELEKOMUNIKASI INDONESIA PERSE	ADR	715684106	2,110	62,658	SH		SOLE		62,658	0	0
TERNIUM SA	ADR	880890108	29,817	1,061,470	SH		SOLE		1,061,470	0	0
TESLA MOTORS INC	Common Stock	88160R101	750	2,073	SH		SOLE		2,073	0	0
THERMO FISHER SCIENTIFIC INC	Common Stock	883556102	296,147	1,697,411	SH		SOLE		1,697,411	0	0
THOR INDUSTRIES INC	Common Stock	885160101	61,990	593,093	SH		SOLE		593,093	0	0
TIFFANY & CO	Common Stock	886547108	196,987	2,098,510	SH		SOLE		2,098,510	0	0
TIME WARNER INC	Common Stock	887317303	17,963	178,896	SH		SOLE		178,896	0	0
TJX COS INC/THE	Common Stock	872540109	8,021	111,138	SH		SOLE		111,138	0	0
TRAVELERS COS INC/THE	Common Stock	89417E113	13,009	102,811	SH		SOLE		102,811	0	0
TRAVELPORT WORLDWIDE LTD	Common Stock	G9019D104	306	22,245	SH		SOLE		22,245	0	0
TWENTY-FIRST CENTURY FOX INC	Common Stock	90130A101	135,462	4,779,891	SH		SOLE		4,779,891	0	0
TYSON FOODS INC	Common Stock	902494103	54,548	870,955	SH		SOLE		870,955	0	0
UNION PACIFIC CORP	Common Stock	907818108	37,475	344,089	SH		SOLE		344,089	0	0
UNITEDHEALTH GROUP INC	Common Stock	91324P102	404,787	2,183,079	SH		SOLE		2,183,079	0	0
UNUM GROUP	Common Stock	91529Y106	88,671	1,901,586	SH		SOLE		1,901,586	0	0
URBAN OUTFITTERS INC	Common Stock	917047102	2,433	131,226	SH		SOLE		131,226	0	0
US SILICA HOLDINGS INC	Common Stock	90346E107	19,375	545,936	SH		SOLE		545,936	0	0
VALERO ENERGY CORP	Common Stock	91913Y100	247,543	3,669,476	SH		SOLE		3,669,476	0	0
VALIDUS HOLDINGS LTD	Common Stock	G9319H102	5,546	106,724	SH		SOLE		106,724	0	0
VANECK VECTORS GOLD MINERS ETF	ETP	92189F106	6,496	294,210	SH		SOLE		294,210	0	0
VANTIV INC	Common Stock	92210H105	230,893	3,645,303	SH		SOLE		3,645,303	0	0
VENTAS INC	REIT	92276F100	15,048	216,583	SH		SOLE		216,583	0	0
VERISIGN INC	Common Stock	92343E106	231,132	2,486,365	SH		SOLE		2,486,365	0	0
VISA INC	Common Stock	92826C839	361,418	3,853,896	SH		SOLE		3,853,896	0	0
VISTRA ENERGY CORP	Common Stock	92840M102	29,966	1,784,735	SH		SOLE		1,784,735	0	0
VMWARE INC	Common Stock	928563402	233,363	2,669,142	SH		SOLE		2,669,142	0	0
WAL-MART STORES INC	Common Stock	931142103	21,917	289,596	SH		SOLE		289,596	0	0
WASHINGTON FEDERAL INC	Common Stock	938824109	44,745	1,347,748	SH		SOLE		1,347,748	0	0
WATERS CORP	Equity / Common Stock	941848103	6,529	35,515	SH		SOLE		35,515	0	0
WEIGHT WATCHERS INTERNATIONAL	Common Stock	948626106	4,190	125,364	SH		SOLE		125,364	0	0
WELBILT INC	Common Stock	949090104	142,689	7,569,703	SH		SOLE		7,569,703	0	0
WELLS FARGO & CO	Common Stock	949746101	5,495	99,163	SH		SOLE		99,163	0	0
WESCO INTERNATIONAL INC	Common Stock	95082P105	63,236	1,103,602	SH		SOLE		1,103,602	0	0
WESTROCK CO	Common Stock	96145D105	88,740	1,566,187	SH		SOLE		1,566,187	0	0
WHITING PETROLEUM CORP	Common Stock	966387102	12,523	2,272,789	SH		SOLE		2,272,789	0	0
XILINX INC	Common Stock	983919101	5,794	90,081	SH		SOLE		90,081	0	0
YAMANA GOLD INC	Common Stock	98462Y100	11,080	4,559,506	SH		SOLE		4,559,506	0	0
ZIMMER HOLDINGS INC	Common Stock	98956P102	259,925	2,024,340	SH		SOLE		2,024,340	0	0
ZOETIS INC	Common Stock	98978V103	4,767	76,418	SH		SOLE		76,418	0	0