Kames Capital 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
A. O. SMITH CORPORATION	COMMON STOCK USD	831865209	88,921,805	1,578,587	SH		SOLE		1,578,587	0	0
ABBVIE INC.	COMMON STOCK USD	00287Y109	22,229,565	306,657	SH		SOLE		306,657	0	0
ACTIVISION BLIZZARD, INC.	COMMON STOCK USD	00507V109	104,911,964	1,822,654	SH		SOLE		1,822,654	0	0
ADOBE SYSTEMS INCORPORATED	COMMON STOCK USD	00724F101	12,734,357	90,040	SH		SOLE		90,040	0	0
ADVANCED DISPOSAL SERVICES,	COMMON STOCK USD	00790X101	937,052	41,298	SH		SOLE		41,298	0	0
AETNA INC.	COMMON STOCK USD	00817Y108	32,893,154	216,716	SH		SOLE		216,716	0	0
AG MORTGAGE INVESTMENT TRUST	REIT USD	001228105	482,445	26,392	SH		SOLE		26,392	0	0
ALBEMARLE CORPORATION	COMMON STOCK USD	012653101	55,534,711	526,146	SH		SOLE		526,146	0	0
ALIBABA GROUP HOLDING LIMITE	ADR USD	01609W102	27,704,872	196,600	SH		SOLE		196,600	0	0
ALPHABET INC.	COMMON STOCK USD	02079K107	105,294,362	115,880	SH		SOLE		115,880	0	0
ALPHABET INC.	COMMON STOCK USD	02079K305	55,895,645	60,130	SH		SOLE		60,130	0	0
ALTRIA GROUP, INC.	COMMON STOCK USD	02209S103	681,698	9,154	SH		SOLE		9,154	0	0
AMAZON.COM, INC.	COMMON STOCK USD	023135106	86,482,005	89,376	SH		SOLE		89,376	0	0
AMGEN INC.	COMMON STOCK USD	031162100	2,510,451	14,577	SH		SOLE		14,577	0	0
AMPHENOL CORPORATION	COMMON STOCK USD	032095101	8,678,489	117,531	SH		SOLE		117,531	0	0
ANSYS, INC.	COMMON STOCK USD	03662Q105	79,661,447	654,949	SH		SOLE		654,949	0	0
ANTHEM, INC.	COMMON STOCK USD	036752103	1,672,715	8,896	SH		SOLE		8,896	0	0
ANWORTH MORTGAGE ASSET CORPO	REIT USD	037347101	485,406	80,901	SH		SOLE		80,901	0	0
APOLLO COMMERCIAL REAL ESTAT	REIT USD	03762U105	7,509,553	405,046	SH		SOLE		405,046	0	0
APPLE INC.	COMMON STOCK USD	037833100	59,549,966	413,484	SH		SOLE		413,484	0	0
APPLIED MATERIALS, INC.	COMMON STOCK USD	038222105	1,331,884	32,249	SH		SOLE		32,249	0	0
ARES COMMERCIAL REAL ESTATE	REIT USD	04013V108	3,429,920	262,026	SH		SOLE		262,026	0	0
ATT INC.	COMMON STOCK USD	00206R102	1,539,724	40,809	SH		SOLE		40,809	0	0
AVALONBAY COMMUNITIES, INC.	REIT USD	053484101	689,578	3,588	SH		SOLE		3,588	0	0
BANK OF AMERICA CORPORATION	COMMON STOCK USD	060505104	48,135,528	1,984,152	SH		SOLE		1,984,152	0	0
BARCLAYS PLC	GLOBAL USD	06738EAA3	7,239,876	6,800,000	SH		SOLE		6,800,000	0	0
BAXTER INTERNATIONAL INC.	COMMON STOCK USD	071813109	1,478,990	24,434	SH		SOLE		24,434	0	0
BERKSHIRE HATHAWAY INC.	COMMON STOCK USD	084670702	43,927,201	259,234	SH		SOLE		259,234	0	0
BURLINGTON STORES, INC.	COMMON STOCK USD	122017106	70,089,886	761,681	SH		SOLE		761,681	0	0
C.R. BARD, INC.	COMMON STOCK USD	067383109	1,649,557	5,215	SH		SOLE		5,215	0	0
CABOT CORPORATION	COMMON STOCK USD	127055101	758,636	14,204	SH		SOLE		14,204	0	0
CALATLANTIC GROUP, INC.	COMMON STOCK USD	128195104	11,032,300	312,176	SH		SOLE		312,176	0	0
CAMDEN PROPERTY TRUST	REIT USD	133131102	1,088,797	12,730	SH		SOLE		12,730	0	0
CARE CAPITAL PROPERTIES, INC	REIT USD	141624106	2,906,568	108,901	SH		SOLE		108,901	0	0
CBOE HOLDINGS, INC.	COMMON STOCK USD	12503M108	1,186,334	12,981	SH		SOLE		12,981	0	0
CDW CORPORATION	COMMON STOCK USD	12514G108	6,261,500	100,184	SH		SOLE		100,184	0	0
CELESTICA INC.	COMMON STOCK CAD	15101Q108	4,466,596	329,215	SH		SOLE		329,215	0	0
CELGENE CORPORATION	COMMON STOCK USD	151020104	105,352,431	811,277	SH		SOLE		811,277	0	0
CENTERPOINT ENERGY, INC.	COMMON STOCK USD	15189T107	649,344	23,716	SH		SOLE		23,716	0	0
CHEVRON CORPORATION	COMMON STOCK USD	166764100	46,688,602	447,466	SH		SOLE		447,466	0	0
CHURCH DWIGHT CO., INC.	COMMON STOCK USD	171340102	1,174,506	22,652	SH		SOLE		22,652	0	0
CINTAS CORPORATION	COMMON STOCK USD	172908105	1,276,859	10,133	SH		SOLE		10,133	0	0
CIRRUS LOGIC, INC.	COMMON STOCK USD	172755100	648,986	10,349	SH		SOLE		10,349	0	0
CISCO SYSTEMS, INC.	COMMON STOCK USD	17275R102	90,444,105	2,889,588	SH		SOLE		2,889,588	0	0
CITIGROUP INC.	COMMON STOCK USD	172967424	973,973	14,563	SH		SOLE		14,563	0	0
CME GROUP INC.	COMMON STOCK USD	12572Q105	1,030,310	8,228	SH		SOLE		8,228	0	0
CNA FINANCIAL CORPORATION	COMMON STOCK USD	126117100	6,089,903	124,998	SH		SOLE		124,998	0	0
COHERENT, INC.	COMMON STOCK USD	192479103	94,839,992	421,736	SH		SOLE		421,736	0	0
COLGATE-PALMOLIVE COMPANY	COMMON STOCK USD	194162103	33,779,707	455,682	SH		SOLE		455,682	0	0
COMCAST CORPORATION	COMMON STOCK USD	20030N101	57,392,405	1,474,625	SH		SOLE		1,474,625	0	0
COOPER TIRE RUBBER COMPANY	COMMON STOCK USD	216831107	5,522,787	153,198	SH		SOLE		153,198	0	0
COOPER-STANDARD HOLDINGS INC	COMMON STOCK USD	21676P103	1,181,392	11,719	SH		SOLE		11,719	0	0
CORNING INCORPORATED	COMMON STOCK USD	219350105	6,336,974	210,881	SH		SOLE		210,881	0	0
DEVON ENERGY CORPORATION	COMMON STOCK USD	25179M103	481,468	15,060	SH		SOLE		15,060	0	0
DIAMONDBACK ENERGY, INC.	COMMON STOCK USD	25278X109	565,085	6,365	SH		SOLE		6,365	0	0
DIGITAL REALTY TRUST, INC.	REIT USD	253868103	1,265,036	11,196	SH		SOLE		11,196	0	0
DOLLAR GENERAL CORPORATION	COMMON STOCK USD	256677105	1,204,142	16,701	SH		SOLE		16,701	0	0
DOMINO'S PIZZA, INC.	COMMON STOCK USD	25754A201	50,967,187	240,991	SH		SOLE		240,991	0	0
DONALDSON COMPANY, INC.	COMMON STOCK USD	257651109	728,207	15,994	SH		SOLE		15,994	0	0
DR PEPPER SNAPPLE GROUP, INC	COMMON STOCK USD	26138E109	29,854,466	327,639	SH		SOLE		327,639	0	0
DUPONT FABROS TECHNOLOGY, IN	REIT USD	26613Q106	1,022,832	16,754	SH		SOLE		16,754	0	0
E. I. DU PONT DE NEMOURS AND	COMMON STOCK USD	263534109	1,045,938	12,956	SH		SOLE		12,956	0	0
EDWARDS LIFESCIENCES CORPORA	COMMON STOCK USD	28176E108	1,341,783	11,347	SH		SOLE		11,347	0	0
EL PASO ELECTRIC COMPANY	COMMON STOCK USD	283677854	1,041,677	20,168	SH		SOLE		20,168	0	0
ENERPLUS CORPORATION	COMMON STOCK CAD	292766102	661,524	82,134	SH		SOLE		82,134	0	0
EOG RESOURCES, INC.	COMMON STOCK USD	26875P101	99,310,035	1,097,106	SH		SOLE		1,097,106	0	0
EQUITY LIFESTYLE PROPERTIES,	REIT USD	29472R108	1,259,920	14,601	SH		SOLE		14,601	0	0
EQUITY RESIDENTIAL	REIT USD	29476L107	1,866,544	28,354	SH		SOLE		28,354	0	0
EVERBRIDGE INC	COMMON STOCK USD	29978A104	613,319	25,198	SH		SOLE		25,198	0	0
EXPEDIA, INC.	COMMON STOCK USD	30212P303	784,458	5,268	SH		SOLE		5,268	0	0
EXXON MOBIL CORPORATION	COMMON STOCK USD	30231G102	2,601,929	32,238	SH		SOLE		32,238	0	0
FACEBOOK, INC.	COMMON STOCK USD	30303M102	144,323,195	956,036	SH		SOLE		956,036	0	0
FEDEX CORPORATION	COMMON STOCK USD	31428X106	1,804,139	8,301	SH		SOLE		8,301	0	0
FIDELITY NATIONAL FINANCIAL,	TRACKING STK USD	31620R303	1,021,134	22,783	SH		SOLE		22,783	0	0
FIRST REPUBLIC BANK	COMMON STOCK USD	33616C100	97,823,496	977,453	SH		SOLE		977,453	0	0
FORTINET, INC.	COMMON STOCK USD	34959E109	5,147,972	137,536	SH		SOLE		137,536	0	0
FREEPORT-MCMORAN INC.	COMMON STOCK USD	35671D857	694,728	57,894	SH		SOLE		57,894	0	0
GENERAL DYNAMICS CORPORATION	COMMON STOCK USD	369550108	1,697,605	8,569	SH		SOLE		8,569	0	0
GENERAL ELECTRIC COMPANY	COMMON STOCK USD	369604103	1,677,051	62,090	SH		SOLE		62,090	0	0
GENTEX CORPORATION	COMMON STOCK USD	371901109	815,545	43,014	SH		SOLE		43,014	0	0
GENUINE PARTS COMPANY	COMMON STOCK USD	372460105	14,998,591	161,675	SH		SOLE		161,675	0	0
GILEAD SCIENCES, INC.	COMMON STOCK USD	375558103	31,829,020	449,753	SH		SOLE		449,753	0	0
GREEN DOT CORPORATION	COMMON STOCK USD	39304D102	4,850,520	126,053	SH		SOLE		126,053	0	0
HCA HEALTHCARE, INC.	COMMON STOCK USD	40412C101	1,353,682	15,531	SH		SOLE		15,531	0	0
HEICO CORPORATION	COMMON STOCK USD	422806109	1,323,293	18,420	SH		SOLE		18,420	0	0
HELMERICH PAYNE, INC.	COMMON STOCK USD	423452101	25,316,748	465,981	SH		SOLE		465,981	0	0
HESS CORPORATION	COMMON STOCK USD	42809H107	19,394,636	442,295	SH		SOLE		442,295	0	0
HOLOGIC, INC.	COMMON STOCK USD	436440101	743,342	16,384	SH		SOLE		16,384	0	0
HOSPITALITY PROPERTIES TRUST	REIT USD	44106M102	2,953,448	101,319	SH		SOLE		101,319	0	0
HOST HOTELS RESORTS, INC.	REIT USD	44107P104	5,544,120	303,621	SH		SOLE		303,621	0	0
HSBC HOLDINGS PLC	GLOBAL USD	404280BC2	1,627,579	1,500,000	SH		SOLE		1,500,000	0	0
HSBC HOLDINGS PLC	GLOBAL USD	404280BL2	3,640,435	3,500,000	SH		SOLE		3,500,000	0	0
IDEXX LABORATORIES, INC.	COMMON STOCK USD	45168D104	1,316,857	8,162	SH		SOLE		8,162	0	0
INGREDION INCORPORATED	COMMON STOCK USD	457187102	65,017,438	545,723	SH		SOLE		545,723	0	0
INSPERITY, INC.	COMMON STOCK USD	45778Q107	4,595,809	64,821	SH		SOLE		64,821	0	0
INSULET CORPORATION	COMMON STOCK USD	45784P101	2,575,773	50,210	SH		SOLE		50,210	0	0
INTEL CORPORATION	COMMON STOCK USD	458140100	759,690	22,516	SH		SOLE		22,516	0	0
INVESCO MORTGAGE CAPITAL INC	REIT USD	46131B100	7,638,029	457,367	SH		SOLE		457,367	0	0
J J SNACK FOODS CORP.	COMMON STOCK USD	466032109	871,464	6,604	SH		SOLE		6,604	0	0
JACK HENRY ASSOCIATES, INC	COMMON STOCK USD	426281101	5,633,366	54,240	SH		SOLE		54,240	0	0
JOHNSON JOHNSON	COMMON STOCK USD	478160104	93,141,477	703,964	SH		SOLE		703,964	0	0
JPMORGAN CHASE CO.	COMMON STOCK USD	46625H100	113,994,760	1,247,071	SH		SOLE		1,247,071	0	0
KAR AUCTION SERVICES, INC.	COMMON STOCK USD	48238T109	38,285,017	912,417	SH		SOLE		912,417	0	0
KIMBERLY-CLARK CORPORATION	COMMON STOCK USD	494368103	1,500,775	11,624	SH		SOLE		11,624	0	0
KLA-TENCOR CORPORATION	COMMON STOCK USD	482480100	679,113	7,422	SH		SOLE		7,422	0	0
KLONDEX MINES LTD.	COMMON STOCK CAD	498696103	528,471	157,414	SH		SOLE		157,414	0	0
LAM RESEARCH CORPORATION	COMMON STOCK USD	512807108	35,628,365	251,933	SH		SOLE		251,933	0	0
LAMB WESTON HOLDINGS, INC.	COMMON STOCK USD	513272104	847,858	19,252	SH		SOLE		19,252	0	0
LCI INDUSTRIES	COMMON STOCK USD	50189K103	28,994,787	283,429	SH		SOLE		283,429	0	0
LEAR CORPORATION	COMMON STOCK USD	521865204	848,240	5,971	SH		SOLE		5,971	0	0
LEGGETT PLATT, INCORPORATE	COMMON STOCK USD	524660107	62,732,902	1,194,230	SH		SOLE		1,194,230	0	0
LITTELFUSE, INC.	COMMON STOCK USD	537008104	26,592,593	161,177	SH		SOLE		161,177	0	0
LOCKHEED MARTIN CORPORATION	COMMON STOCK USD	539830109	77,466,863	278,999	SH		SOLE		278,999	0	0
LUMENTUM HOLDINGS INC.	COMMON STOCK USD	55024U109	5,798,553	101,729	SH		SOLE		101,729	0	0
MAGNA INTERNATIONAL INC.	COMMON STOCK CAD	559222401	1,228,043	26,581	SH		SOLE		26,581	0	0
MARKETAXESS HOLDINGS INC.	COMMON STOCK USD	57060D108	84,221,318	418,824	SH		SOLE		418,824	0	0
MARSH MCLENNAN COMPANIES,	COMMON STOCK USD	571748102	1,695,646	21,753	SH		SOLE		21,753	0	0
MAXIM INTEGRATED PRODUCTS, I	COMMON STOCK USD	57772K101	28,646,534	638,434	SH		SOLE		638,434	0	0
MCCORMICK COMPANY, INCORPO	COMMON STOCK USD	579780206	1,104,902	11,330	SH		SOLE		11,330	0	0
MCDERMOTT INTERNATIONAL, INC	COMMON STOCK USD	580037109	1,142,163	159,520	SH		SOLE		159,520	0	0
MCDONALD'S CORPORATION	COMMON STOCK USD	580135101	726,132	4,741	SH		SOLE		4,741	0	0
MEDICAL PROPERTIES TRUST, IN	REIT USD	58463J304	5,870,307	456,478	SH		SOLE		456,478	0	0
MEDIDATA SOLUTIONS, INC.	COMMON STOCK USD	58471A105	1,290,343	16,509	SH		SOLE		16,509	0	0
MERCK CO., INC.	COMMON STOCK USD	58933Y105	57,270,568	893,596	SH		SOLE		893,596	0	0
METTLER-TOLEDO INTERNATIONAL	COMMON STOCK USD	592688105	1,519,682	2,583	SH		SOLE		2,583	0	0
MGE ENERGY, INC.	COMMON STOCK USD	55277P104	1,055,435	16,427	SH		SOLE		16,427	0	0
MICROCHIP TECHNOLOGY INCORPO	COMMON STOCK USD	595017104	1,133,712	14,693	SH		SOLE		14,693	0	0
MICROSOFT CORPORATION	COMMON STOCK USD	594918104	33,887,826	491,698	SH		SOLE		491,698	0	0
MOELIS COMPANY	COMMON STOCK USD	60786M105	1,458,647	37,594	SH		SOLE		37,594	0	0
MOHAWK INDUSTRIES, INC.	COMMON STOCK USD	608190104	2,718,530	11,248	SH		SOLE		11,248	0	0
MONOLITHIC POWER SYSTEMS, IN	COMMON STOCK USD	609839105	5,193,900	53,901	SH		SOLE		53,901	0	0
NATIONAL HEALTH INVESTORS, I	REIT USD	63633D104	1,984,977	25,066	SH		SOLE		25,066	0	0
NETEASE, INC.	ADR USD	64110W102	19,080,551	63,477	SH		SOLE		63,477	0	0
NEW RESIDENTIAL INVESTMENT C	REIT USD	64828T201	5,061,432	325,494	SH		SOLE		325,494	0	0
NUCOR CORPORATION	COMMON STOCK USD	670346105	16,572,521	286,375	SH		SOLE		286,375	0	0
NUVEEN MULTI-STRATEGY INCOME	CLOSED-END FUND USD	67073B106	5,361,300	517,001	SH		SOLE		517,001	0	0
NVIDIA CORPORATION	COMMON STOCK USD	67066G104	16,203,652	112,136	SH		SOLE		112,136	0	0
OFFICE DEPOT, INC.	COMMON STOCK USD	676220106	18,579,495	3,300,088	SH		SOLE		3,300,088	0	0
OGE ENERGY CORP.	COMMON STOCK USD	670837103	1,102,913	31,702	SH		SOLE		31,702	0	0
OLLIE'S BARGAIN OUTLET HOLDI	COMMON STOCK USD	681116109	1,148,127	26,983	SH		SOLE		26,983	0	0
ON ASSIGNMENT, INC.	COMMON STOCK USD	682159108	21,009,298	388,055	SH		SOLE		388,055	0	0
ORMAT TECHNOLOGIES, INC.	COMMON STOCK USD	686688102	1,404,677	23,942	SH		SOLE		23,942	0	0
OWENS-ILLINOIS, INC.	COMMON STOCK USD	690768403	1,182,190	49,464	SH		SOLE		49,464	0	0
PEPSICO, INC.	COMMON STOCK USD	713448108	2,917,646	25,261	SH		SOLE		25,261	0	0
PFIZER INC.	COMMON STOCK USD	717081103	26,799,580	797,844	SH		SOLE		797,844	0	0
PHILIP MORRIS INTERNATIONAL	COMMON STOCK USD	718172109	68,400,247	582,328	SH		SOLE		582,328	0	0
PRA HEALTH SCIENCES, INC.	COMMON STOCK USD	69354M108	1,181,625	15,755	SH		SOLE		15,755	0	0
PRUDENTIAL FINANCIAL, INC.	COMMON STOCK USD	744320102	1,417,909	13,113	SH		SOLE		13,113	0	0
QUALITY CARE PROPERTIES, INC	REIT USD	747545101	1,027,106	56,126	SH		SOLE		56,126	0	0
QUALYS, INC.	COMMON STOCK USD	74758T303	1,332,973	32,711	SH		SOLE		32,711	0	0
QUEST DIAGNOSTICS INCORPORAT	COMMON STOCK USD	74834L100	772,229	6,947	SH		SOLE		6,947	0	0
RAYTHEON COMPANY	COMMON STOCK USD	755111507	1,692,956	10,484	SH		SOLE		10,484	0	0
REALPAGE, INC.	COMMON STOCK USD	75606N109	1,281,881	35,707	SH		SOLE		35,707	0	0
REINSURANCE GROUP OF AMERICA	COMMON STOCK USD	759351604	1,082,386	8,439	SH		SOLE		8,439	0	0
REPUBLIC SERVICES, INC.	COMMON STOCK USD	760759100	1,184,603	18,582	SH		SOLE		18,582	0	0
RESMED INC.	COMMON STOCK USD	761152107	1,122,441	14,418	SH		SOLE		14,418	0	0
REX AMERICAN RESOURCES CORPO	COMMON STOCK USD	761624105	699,119	7,241	SH		SOLE		7,241	0	0
REYNOLDS AMERICAN INC.	COMMON STOCK USD	761713106	48,241,010	741,827	SH		SOLE		741,827	0	0
RICE ENERGY, INC.	COMMON STOCK USD	762760106	1,126,798	42,329	SH		SOLE		42,329	0	0
RITCHIE BROS. AUCTIONEERS IN	COMMON STOCK USD	767744105	22,282,611	775,317	SH		SOLE		775,317	0	0
ROSS STORES, INC.	COMMON STOCK USD	778296103	1,190,186	20,620	SH		SOLE		20,620	0	0
RYDER SYSTEM, INC.	COMMON STOCK USD	783549108	14,050,406	195,253	SH		SOLE		195,253	0	0
SOUTHERN COPPER CORPORATION	COMMON STOCK USD	84265V105	984,801	28,446	SH		SOLE		28,446	0	0
SOUTHWEST AIRLINES CO.	COMMON STOCK USD	844741108	771,095	12,409	SH		SOLE		12,409	0	0
STARWOOD PROPERTY TRUST, INC	REIT USD	85571B105	6,287,080	280,924	SH		SOLE		280,924	0	0
STEEL DYNAMICS, INC.	COMMON STOCK USD	858119100	23,519,777	656,977	SH		SOLE		656,977	0	0
STORE CAPITAL CORPORATION	REIT USD	862121100	3,846,575	171,416	SH		SOLE		171,416	0	0
SUN COMMUNITIES, INC.	REIT USD	866674104	1,465,659	16,716	SH		SOLE		16,716	0	0
SYNOPSYS, INC.	COMMON STOCK USD	871607107	7,085,904	97,187	SH		SOLE		97,187	0	0
T-MOBILE USA, INC.	COMMON STOCK USD	872590104	1,063,712	17,553	SH		SOLE		17,553	0	0
T. ROWE PRICE GROUP, INC.	COMMON STOCK USD	74144T108	10,112,199	136,283	SH		SOLE		136,283	0	0
TAIWAN SEMICONDUCTOR MANUFAC	ADR USD	874039100	46,027,997	1,316,967	SH		SOLE		1,316,967	0	0
TAKE-TWO INTERACTIVE SOFTWAR	COMMON STOCK USD	874054109	1,080,374	14,723	SH		SOLE		14,723	0	0
TERADYNE, INC.	COMMON STOCK USD	880770102	1,214,984	40,459	SH		SOLE		40,459	0	0
TETRA TECH, INC.	COMMON STOCK USD	88162G103	50,879,227	1,113,331	SH		SOLE		1,113,331	0	0
TEXAS INSTRUMENTS INCORPORAT	COMMON STOCK USD	882508104	1,675,497	21,788	SH		SOLE		21,788	0	0
THE CLOROX COMPANY	COMMON STOCK USD	189054109	45,366,029	340,458	SH		SOLE		340,458	0	0
THE COCA-COLA COMPANY	COMMON STOCK USD	191216100	741,774	16,539	SH		SOLE		16,539	0	0
THE COOPER COMPANIES, INC.	COMMON STOCK USD	216648402	1,249,263	5,217	SH		SOLE		5,217	0	0
THE GREENBRIER COMPANIES, IN	COMMON STOCK USD	393657101	752,090	16,279	SH		SOLE		16,279	0	0
THE HERSHEY COMPANY	COMMON STOCK USD	427866108	1,081,967	10,077	SH		SOLE		10,077	0	0
THE HOME DEPOT, INC.	COMMON STOCK USD	437076102	2,992,220	19,506	SH		SOLE		19,506	0	0
THE PRICELINE GROUP INC.	COMMON STOCK USD	741503403	750,066	401	SH		SOLE		401	0	0
THE PROCTER GAMBLE COMPANY	COMMON STOCK USD	742718109	1,340,890	15,386	SH		SOLE		15,386	0	0
THE PROGRESSIVE CORPORATION	COMMON STOCK USD	743315103	1,380,233	31,312	SH		SOLE		31,312	0	0
THE TORO COMPANY	COMMON STOCK USD	891092108	1,221,060	17,625	SH		SOLE		17,625	0	0
THE WALT DISNEY COMPANY	COMMON STOCK USD	254687106	719,283	6,771	SH		SOLE		6,771	0	0
TIFFANY CO.	COMMON STOCK USD	886547108	940,865	10,022	SH		SOLE		10,022	0	0
TORCHMARK CORPORATION	COMMON STOCK USD	891027104	1,193,094	15,596	SH		SOLE		15,596	0	0
TRANSUNION	COMMON STOCK USD	89400J107	1,419,355	32,772	SH		SOLE		32,772	0	0
TRIMBLE INC.	COMMON STOCK USD	896239100	7,542,885	211,463	SH		SOLE		211,463	0	0
TTM TECHNOLOGIES, INC.	COMMON STOCK USD	87305R109	1,613,429	92,993	SH		SOLE		92,993	0	0
TUTOR PERINI CORPORATION	COMMON STOCK USD	901109108	671,293	23,390	SH		SOLE		23,390	0	0
TWO HARBORS INVESTMENT CORP.	REIT USD	90187B101	7,380,708	744,023	SH		SOLE		744,023	0	0
TYSON FOODS, INC.	COMMON STOCK USD	902494103	1,151,707	18,392	SH		SOLE		18,392	0	0
ULTA BEAUTY, INC.	COMMON STOCK USD	90384S303	1,413,713	4,920	SH		SOLE		4,920	0	0
UNION PACIFIC CORPORATION	COMMON STOCK USD	907818108	30,613,718	281,221	SH		SOLE		281,221	0	0
UNITED RENTALS, INC.	COMMON STOCK USD	911363109	1,212,196	10,755	SH		SOLE		10,755	0	0
UNITEDHEALTH GROUP INCORPORA	COMMON STOCK USD	91324P102	3,117,958	16,822	SH		SOLE		16,822	0	0
UNUM GROUP	COMMON STOCK USD	91529Y106	13,889,166	297,859	SH		SOLE		297,859	0	0
VALVOLINE, INC.	COMMON STOCK USD	92047W101	958,666	40,433	SH		SOLE		40,433	0	0
VANTIV, INC.	COMMON STOCK USD	92210H105	9,357,365	147,709	SH		SOLE		147,709	0	0
VCA INC.	COMMON STOCK USD	918194101	1,093,504	11,846	SH		SOLE		11,846	0	0
VERIZON COMMUNICATIONS INC.	COMMON STOCK USD	92343V104	999,179	22,368	SH		SOLE		22,368	0	0
VIPSHOP (CHINA) CO., LTD.	ADR USD	92763W103	4,080,793	387,172	SH		SOLE		387,172	0	0
VISA INC.	COMMON STOCK USD	92826C839	63,234,250	674,211	SH		SOLE		674,211	0	0
W. R. BERKLEY CORPORATION	COMMON STOCK USD	084423102	852,728	12,328	SH		SOLE		12,328	0	0
WALGREENS BOOTS ALLIANCE, IN	COMMON STOCK USD	931427108	687,464	8,781	SH		SOLE		8,781	0	0
WASTE CONNECTIONS US, INC.	COMMON STOCK CAD	94106B101	1,013,005	15,765	SH		SOLE		15,765	0	0
WASTE MANAGEMENT, INC.	COMMON STOCK USD	94106L109	1,452,645	19,807	SH		SOLE		19,807	0	0
WATSCO, INC.	COMMON STOCK USD	942622200	14,905,954	96,704	SH		SOLE		96,704	0	0
WELLCARE HEALTH PLANS, INC.	COMMON STOCK USD	94946T106	1,157,416	6,448	SH		SOLE		6,448	0	0
WELLS FARGO COMPANY	COMMON STOCK USD	949746101	1,674,682	30,218	SH		SOLE		30,218	0	0
WELLTOWER INC.	REIT USD	95040Q104	3,610,181	48,258	SH		SOLE		48,258	0	0
WHITING PETROLEUM CORPORATIO	COMMON STOCK USD	966387102	547,245	99,499	SH		SOLE		99,499	0	0
WYNDHAM WORLDWIDE CORPORATIO	COMMON STOCK USD	98310W108	22,085,499	219,997	SH		SOLE		219,997	0	0
ZIONS BANCORPORATION	COMMON STOCK USD	989701107	44,902,501	1,022,836	SH		SOLE		1,022,836	0	0