Majedie Asset Management Ltd Activity Q4 2013-Q1 2022

Q1 2022

			Value		Shares		↓ Weighting
NEM	Buy	NEWMONT CORP	$113,448,000	+96.9%	1,431,290	+54.2%	9.30%	+111.9%
EFX	Sell	EQUIFAX INC	$63,929,000	-30.7%	270,266	-14.1%	5.24%	-25.4%
MSFT	Buy	MICROSOFT CORP	$51,701,000	-8.1%	168,086	+0.6%	4.24%	-1.1%
FISV	Sell	FISERV INC	$47,771,000	-23.8%	472,222	-21.7%	3.92%	-18.0%
GOLD	Buy	BARRICK GOLD CORP	$45,650,000	+144.9%	1,865,448	+90.4%	3.74%	+163.6%
ZBH	Buy	ZIMMER BIOMET HOLDINGS INC	$40,268,000	+64.7%	315,580	+64.1%	3.30%	+77.2%
AMZN	Buy	AMAZON COM INC	$38,731,000	+6.6%	11,909	+9.4%	3.17%	+14.8%
GOOGL	Sell	ALPHABET INCcap stk cl a	$35,049,000	-21.6%	12,631	-18.1%	2.87%	-15.6%
EA	Buy	ELECTRONIC ARTS INC	$31,489,000	-2.9%	249,491	+1.6%	2.58%	+4.5%
ANTM	Sell	ANTHEM INC	$27,586,000	-13.5%	56,290	-18.0%	2.26%	-6.8%
ICE	Buy	INTERCONTINENTAL EXCHANGE IN	$26,350,000	-3.2%	199,908	+0.6%	2.16%	+4.1%
HAS	Sell	HASBRO INC	$25,048,000	-21.0%	306,489	-1.6%	2.05%	-15.0%
LHX	Buy	L3HARRIS TECHNOLOGIES INC	$24,012,000	+184.7%	96,867	+145.2%	1.97%	+206.5%
IBKR	Buy	INTERACTIVE BROKERS GROUP IN	$23,859,000	-12.4%	362,847	+5.9%	1.96%	-5.8%
FICO	Sell	FAIR ISAAC CORP	$23,383,000	-42.5%	50,247	-46.4%	1.92%	-38.2%
CCK	Sell	CROWN HLDGS INC	$22,252,000	-9.4%	178,304	-19.6%	1.82%	-2.5%
WSC	Sell	WILLSCOT MOBIL MINI HLDNG CO	$20,490,000	-5.5%	524,886	-1.0%	1.68%	+1.7%
INTC	Buy	INTEL CORP	$20,299,000	+109.3%	410,548	+118.2%	1.66%	+125.2%
USFD	Sell	US FOODS HLDG CORP	$19,045,000	+4.9%	507,298	-2.5%	1.56%	+13.0%
AON	Buy	AON PLC SHScl a	$18,777,000	+47.6%	57,800	+36.7%	1.54%	+59.0%
FCX	Sell	FREEPORT-MCMORAN INCcl b	$18,121,000	+5.6%	365,175	-11.1%	1.48%	+13.7%
FTDR	Sell	FRONTDOOR INC	$16,737,000	-23.6%	562,043	-5.8%	1.37%	-17.7%
	Buy	CAZOO GROUP LTD	$14,956,000	-54.4%	5,431,801	+0.0%	1.23%	-50.9%
TSM	Sell	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$14,251,000	-17.8%	137,010	-4.9%	1.17%	-11.6%
SQM	Sell	SOCIEDAD QUIMICA Y MINERA DEspon adr ser b	$14,141,000	+60.2%	165,589	-5.3%	1.16%	+72.5%
NVDA	Sell	NVIDIA CORPORATION	$13,756,000	-23.3%	50,532	-17.0%	1.13%	-17.4%
MELI	Buy	MERCADOLIBRE INC	$13,348,000	-9.9%	11,248	+2.5%	1.09%	-3.0%
CNC	Buy	CENTENE CORP DEL	$12,187,000	+2.0%	145,092	+0.2%	1.00%	+9.8%
VRT	Buy	VERTIV HOLDINGS CO	$11,516,000	-10.6%	824,535	+60.0%	0.94%	-3.8%
MU	Sell	MICRON TECHNOLOGY INC	$11,248,000	-24.2%	144,745	-9.0%	0.92%	-18.4%
GFI	Sell	GOLD FIELDS LTDsponsored adr	$11,217,000	+25.9%	727,266	-10.2%	0.92%	+35.5%
CBOE	Sell	CBOE GLOBAL MKTS INC	$11,150,000	-15.9%	97,681	-3.9%	0.91%	-9.5%
MRK	Buy	MERCK & CO INC	$11,058,000	+17.8%	135,087	+10.4%	0.91%	+26.7%
EOG	New	EOG RES INC	$10,869,000	–	91,379	–	0.89%	–
ARMK	Buy	ARAMARK	$10,846,000	+22.9%	289,133	+20.9%	0.89%	+32.3%
PFE	Buy	PFIZER INC	$10,082,000	+11.4%	195,212	+27.5%	0.83%	+19.9%
BAP	Sell	CREDICORP LTD	$10,033,000	+35.8%	58,514	-3.2%	0.82%	+46.3%
NVS	New	NOVARTIS AGsponsored adr	$9,961,000	–	113,784	–	0.82%	–
TAP	Buy	MOLSON COORS BEVERAGE COcl b	$9,814,000	+24.8%	184,292	+8.7%	0.80%	+34.2%
KHC	Sell	KRAFT HEINZ CO	$9,753,000	-1.9%	248,185	-10.2%	0.80%	+5.5%
ADBE	New	ADOBE SYSTEMS INCORPORATED	$9,690,000	–	21,318	–	0.79%	–
ICLR	Buy	ICON PLC	$9,590,000	+84.4%	39,523	+135.7%	0.79%	+98.5%
DAL	Sell	DELTA AIR LINES INC DEL	$9,573,000	-43.6%	242,493	-44.1%	0.78%	-39.3%
PFGC	New	PERFORMANCE FOOD GROUP CO	$9,584,000	–	188,702	–	0.78%	–
CNHI	Buy	CNH INDL N V	$9,564,000	+127.2%	598,594	+176.3%	0.78%	+144.2%
XPO	Sell	XPO LOGISTICS INC	$9,537,000	-29.1%	131,318	-24.3%	0.78%	-23.6%
CAH	Buy	CARDINAL HEALTH INC	$9,010,000	+11.9%	159,279	+2.0%	0.74%	+20.4%
UHS	Buy	UNIVERSAL HLTH SVCS INCcl b	$8,889,000	+21.2%	61,471	+8.8%	0.73%	+30.5%
TTWO	Sell	TAKE-TWO INTERACTIVE SOFTWAR	$8,824,000	-29.7%	57,530	-18.4%	0.72%	-24.3%
	New	SHELL PLCspon ads	$8,644,000	–	157,740	–	0.71%	–
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$8,267,000	-36.0%	63,731	-34.0%	0.68%	-31.2%
NFLX	Buy	NETFLIX INC	$8,245,000	-28.2%	22,062	+16.0%	0.68%	-22.7%
GSK	Sell	GLAXOSMITHKLINE PLCsponsored adr	$8,133,000	-19.7%	187,150	-18.4%	0.67%	-13.5%
CPA	Sell	COPA HOLDINGS SAcl a	$7,680,000	-2.8%	92,036	-3.6%	0.63%	+4.5%
BAH	New	BOOZ ALLEN HAMILTON HLDG CORcl a	$7,367,000	–	84,067	–	0.60%	–
HII	Sell	HUNTINGTON INGALLS INDS INC	$7,297,000	+5.2%	36,674	-1.2%	0.60%	+13.3%
IONS	Buy	IONIS PHARMACEUTICALS INC	$7,224,000	+35.1%	195,492	+11.4%	0.59%	+45.5%
TTE	Sell	TOTALENERGIES SEsponsored ads	$7,226,000	-40.0%	143,311	-41.1%	0.59%	-35.4%
SBSW	Buy	SIBANYE STILLWATER LTDsponsored adr	$7,015,000	+75.4%	433,220	+36.0%	0.58%	+88.5%
IT	Buy	GARTNER INC	$7,015,000	-8.2%	23,639	+3.5%	0.58%	-1.2%
WBA	New	WALGREENS BOOTS ALLIANCE INC	$6,585,000	–	147,439	–	0.54%	–
VTRS	Sell	VIATRIS INC	$6,234,000	-34.5%	574,322	-18.2%	0.51%	-29.5%
SCHW	Sell	SCHWAB CHARLES CORP	$5,941,000	-32.5%	70,637	-32.5%	0.49%	-27.4%
TCOM	Sell	TRIP COM GROUP LTDads	$5,921,000	-8.8%	256,695	-2.6%	0.48%	-2.0%
VIAC	Sell	PARAMOUNT GLOBAL CLASS B	$5,916,000	+3.0%	156,827	-17.5%	0.48%	+11.0%
MGM	Sell	MGM RESORTS INTERNATIONAL	$5,540,000	-67.2%	132,417	-64.7%	0.45%	-64.7%
HST	Sell	HOST HOTELS & RESORTS INC	$5,365,000	-46.0%	276,759	-51.5%	0.44%	-41.8%
CCJ	Sell	CAMECO CORP	$5,283,000	+8.6%	181,962	-18.3%	0.43%	+17.0%
ALNY	New	ALNYLAM PHARMACEUTICALS INC	$5,136,000	–	31,529	–	0.42%	–
C	Sell	CITIGROUP INC	$4,694,000	-53.4%	88,110	-47.1%	0.38%	-49.7%
IBP	Buy	INSTALLED BLDG PRODS INC	$3,663,000	-39.1%	43,460	+1.2%	0.30%	-34.5%
ADSK	Sell	AUTODESK INC	$3,608,000	-31.6%	16,871	-10.0%	0.30%	-26.4%
ALC	Sell	ALCON AG	$3,517,000	-10.8%	44,026	-1.0%	0.29%	-4.0%
BFAM	Sell	BRIGHT HORIZONS FAM SOL IN D	$3,201,000	-21.9%	24,183	-25.7%	0.26%	-16.0%
	Buy	GXO LOGISTICS INCORPORATED	$3,084,000	-12.3%	43,327	+12.1%	0.25%	-5.6%
ETSY	Sell	ETSY INC	$2,245,000	-74.6%	18,108	-55.0%	0.18%	-72.6%
ILMN	Sell	ILLUMINA INC	$1,972,000	-15.6%	5,658	-7.8%	0.16%	-9.0%
FRC	Sell	FIRST REP BK SAN FRANCISCO C	$1,752,000	-27.3%	10,833	-7.1%	0.14%	-21.7%
FB	Sell	META PLATFORMS INCcl a	$1,245,000	-95.9%	5,613	-93.8%	0.10%	-95.6%
NXPI	Sell	NXP SEMICONDUCTORS N V	$1,003,000	-98.0%	5,432	-97.5%	0.08%	-97.8%
ON	Sell	ON SEMICONDUCTOR CORP	$712,000	-94.3%	11,404	-93.8%	0.06%	-93.9%
LYV	Exit	LIVE NATION ENTERTAINMENT IN	$0	–	-6,066	–	-0.06%	–
ATUS	Exit	ALTICE USA INCcl a	$0	–	-188,838	–	-0.23%	–
AEO	Exit	AMERICAN EAGLE OUTFITTERS IN	$0	–	-123,557	–	-0.24%	–
LOPE	Exit	GRAND CANYON ED INC	$0	–	-42,690	–	-0.28%	–
CCL	Exit	CARNIVAL CORP	$0	–	-274,076	–	-0.42%	–
VNO	Exit	VORNADO RLTY TRsh ben int	$0	–	-157,498	–	-0.50%	–
RDSB	Exit	ROYAL DUTCH SHELL PLCspon adr b	$0	–	-297,137	–	-0.98%	–

Q4 2021

			Value		Shares		↓ Weighting
EFX	Sell	EQUIFAX INC	$92,200,000	-5.6%	314,530	-18.4%	7.02%	-5.0%
FISV	Sell	FISERV INC	$62,689,000	-17.8%	603,281	-14.1%	4.77%	-17.3%
NEM	Buy	NEWMONT CORP	$57,627,000	+14.7%	928,077	+0.3%	4.39%	+15.4%
MSFT	Buy	MICROSOFT CORP	$56,264,000	+35.3%	167,096	+13.3%	4.28%	+36.2%
NXPI	Sell	NXP SEMICONDUCTORS N V	$49,018,000	-5.9%	214,946	-19.2%	3.73%	-5.4%
GOOGL	Buy	ALPHABET INCcap stk cl a	$44,708,000	+11.0%	15,414	+2.3%	3.40%	+11.6%
FICO	New	FAIR ISAAC CORP	$40,686,000	–	93,707	–	3.10%	–
AMZN	Buy	AMAZON COM INC	$36,327,000	+6.0%	10,882	+4.3%	2.77%	+6.6%
	New	CAZOO GROUP LTD	$32,793,000	–	5,431,800	–	2.50%	–
EA	Buy	ELECTRONIC ARTS INC	$32,442,000	-3.0%	245,671	+4.5%	2.47%	-2.4%
ANTM	Buy	ANTHEM INC	$31,874,000	+25.7%	68,681	+1.0%	2.43%	+26.5%
HAS	Buy	HASBRO INC	$31,725,000	+29.6%	311,333	+13.5%	2.42%	+30.4%
FB	Sell	META PLATFORMS INCcl a	$30,313,000	-33.4%	90,018	-32.9%	2.31%	-33.0%
IBKR	Buy	INTERACTIVE BROKERS GROUP IN	$27,248,000	+29.8%	342,688	+1.8%	2.08%	+30.6%
ICE	Buy	INTERCONTINENTAL EXCHANGE IN	$27,222,000	+19.6%	198,801	+0.3%	2.07%	+20.3%
CCK	Sell	CROWN HLDGS INC	$24,571,000	+9.3%	221,856	-0.5%	1.87%	+10.0%
ZBH	Sell	ZIMMER BIOMET HOLDINGS INC	$24,454,000	-13.8%	192,261	-0.8%	1.86%	-13.3%
FTDR	Buy	FRONTDOOR INC	$21,904,000	-5.5%	596,956	+8.0%	1.67%	-4.8%
WSC	Buy	WILLSCOT MOBIL MINI HLDNG CO	$21,689,000	+62.8%	530,442	+26.3%	1.65%	+63.8%
GOLD	Sell	BARRICK GOLD CORP	$18,640,000	-8.6%	979,847	-13.3%	1.42%	-8.1%
USFD	Sell	US FOODS HLDG CORP	$18,152,000	-26.5%	520,549	-26.9%	1.38%	-26.1%
NVDA	Sell	NVIDIA CORPORATION	$17,933,000	+31.2%	60,902	-7.7%	1.36%	+32.0%
TSM	Sell	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$17,346,000	-3.2%	144,004	-10.3%	1.32%	-2.6%
FCX	Sell	FREEPORT-MCMORAN INCcl b	$17,157,000	+7.0%	410,651	-16.6%	1.31%	+7.7%
DAL	Buy	DELTA AIR LINES INC DEL	$16,985,000	+10.7%	434,099	+20.6%	1.29%	+11.4%
MGM	Sell	MGM RESORTS INTERNATIONAL	$16,872,000	-8.6%	375,493	-12.2%	1.28%	-8.1%
MU	Buy	MICRON TECHNOLOGY INC	$14,838,000	+65.6%	159,100	+26.1%	1.13%	+66.7%
MELI	Buy	MERCADOLIBRE INC	$14,819,000	-7.9%	10,977	+14.6%	1.13%	-7.3%
XPO	Buy	XPO LOGISTICS INC	$13,447,000	+58.1%	173,463	+62.3%	1.02%	+59.0%
CBOE	Sell	CBOE GLOBAL MKTS INC	$13,264,000	+3.0%	101,597	-2.2%	1.01%	+3.7%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$12,923,000	+11.3%	96,573	+15.5%	0.98%	+11.9%
RDSB	Sell	ROYAL DUTCH SHELL PLCspon adr b	$12,896,000	-20.2%	297,137	-18.6%	0.98%	-19.6%
VRT	Buy	VERTIV HOLDINGS CO	$12,884,000	+15.8%	515,386	+11.6%	0.98%	+16.5%
AON	Sell	AON PLC	$12,719,000	-41.0%	42,267	-43.9%	0.97%	-40.6%
ON	Sell	ON SEMICONDUCTOR	$12,537,000	+19.4%	184,363	-19.6%	0.96%	+20.3%
TTE	Sell	TOTALENERGIES SEsponsored ads	$12,047,000	-15.9%	243,276	-18.6%	0.92%	-15.4%
CNC	New	CENTENE CORP DEL	$11,950,000	–	144,848	–	0.91%	–
NFLX	Buy	NETFLIX INC	$11,476,000	+7.0%	19,027	+8.3%	0.87%	+7.8%
GSK	Buy	GLAXOSMITHKLINE PLCsponsored adr	$10,122,000	+25.5%	229,261	+8.6%	0.77%	+26.4%
C	Buy	CITIGROUP INC	$10,065,000	+6.7%	166,465	+23.9%	0.77%	+7.3%
KHC	Buy	KRAFT HEINZ CO	$9,937,000	+5.9%	276,462	+8.5%	0.76%	+6.6%
HST	Sell	HOST HOTELS & RESORTS INC	$9,928,000	-13.2%	570,205	-18.5%	0.76%	-12.6%
INTC	Sell	INTEL CORP	$9,700,000	-21.2%	188,126	-18.5%	0.74%	-20.6%
VTRS	Sell	VIATRIS INC	$9,516,000	-1.4%	702,479	-1.4%	0.72%	-0.7%
MRK	Sell	MERCK & CO INC	$9,388,000	-14.2%	122,348	-16.0%	0.72%	-13.6%
PFE	Sell	PFIZER INC	$9,054,000	-8.4%	153,139	-33.4%	0.69%	-7.9%
GFI	Sell	GOLD FIELDS LTDsponsored adr	$8,910,000	+0.3%	809,790	-26.0%	0.68%	+0.9%
ETSY	Sell	ETSY INC	$8,830,000	-83.5%	40,282	-84.3%	0.67%	-83.4%
ARMK	Buy	ARAMARK	$8,826,000	+35.6%	239,235	+20.8%	0.67%	+36.3%
SCHW	Buy	SCHWAB CHARLES CORP	$8,808,000	+63.8%	104,604	+41.8%	0.67%	+64.9%
LHX	Sell	L3HARRIS TECHNOLOGIES INC	$8,433,000	-18.9%	39,498	-16.3%	0.64%	-18.4%
CAH	Sell	CARDINAL HEALTH INC	$8,052,000	-15.1%	156,187	-18.5%	0.61%	-14.6%
TAP	Sell	MOLSON COORS BEVERAGE COcl b	$7,865,000	-25.9%	169,495	-26.0%	0.60%	-25.5%
IT	Sell	GARTNER INC	$7,643,000	-29.8%	22,834	-36.3%	0.58%	-29.4%
BAP	Buy	CREDICORP LTD	$7,387,000	+12.3%	60,445	+2.0%	0.56%	+12.9%
UHS	Sell	UNIVERSAL HLTH SVCS INCcl b	$7,335,000	-23.5%	56,505	-18.4%	0.56%	-23.1%
HII	Sell	HUNTINGTON INGALLS INDS INC	$6,939,000	-21.1%	37,114	-18.5%	0.53%	-20.7%
VNO	Sell	VORNADO RLTY TRsh ben int	$6,601,000	-26.1%	157,498	-25.9%	0.50%	-25.6%
IBP	New	INSTALLED BLDG PRODS INC	$6,010,000	–	42,961	–	0.46%	–
VIAC	Sell	VIACOMCBS INCcl b	$5,744,000	-42.4%	190,108	-24.7%	0.44%	-42.1%
CCL	Sell	CARNIVAL CORP	$5,521,000	-25.4%	274,076	-7.3%	0.42%	-25.0%
ADSK	New	AUTODESK INC	$5,277,000	–	18,745	–	0.40%	–
ICLR	New	ICON PLC	$5,200,000	–	16,771	–	0.40%	–
CCJ	Sell	CAMECO CORP	$4,863,000	-25.6%	222,707	-26.0%	0.37%	-25.3%
CNHI	Sell	CNH INDL N V	$4,210,000	-15.5%	216,683	-26.0%	0.32%	-14.9%
BFAM	Buy	BRIGHT HORIZONS FAM SOL IN D	$4,101,000	-5.9%	32,537	+4.1%	0.31%	-5.5%
SBSW	Sell	SIBANYE STILLWATER LTDsponsored adr	$4,000,000	-24.7%	318,639	-26.0%	0.30%	-24.1%
LOPE	Sell	GRAND CANYON ED INC	$3,663,000	-57.0%	42,690	-55.9%	0.28%	-56.7%
	Sell	GXO LOGISTICS INCORPORATED	$3,515,000	-1.0%	38,657	-14.6%	0.27%	-0.4%
AEO	Buy	AMERICAN EAGLE OUTFITTERS IN	$3,132,000	+53.9%	123,557	+56.7%	0.24%	+54.5%
ATUS	Sell	ALTICE USA INCcl a	$3,059,000	-40.0%	188,838	-23.2%	0.23%	-39.6%
FRC	Sell	FIRST REP BK SAN FRANCISCO C	$2,410,000	+4.6%	11,655	-2.4%	0.18%	+5.7%
ILMN	Sell	ILLUMINA INC	$2,336,000	-7.3%	6,134	-1.2%	0.18%	-6.8%
LYV	Sell	LIVE NATION ENTERTAINMENT IN	$727,000	-90.2%	6,066	-92.5%	0.06%	-90.2%
BSX	Exit	BOSTON SCIENTIFIC CORP	$0	–	-66,199	–	-0.22%	–
PTON	Exit	PELOTON INTERACTIVE INC	$0	–	-39,319	–	-0.26%	–
BWXT	Exit	BWX TECHNOLOGIES INC	$0	–	-81,896	–	-0.33%	–
IAA	Exit	IAA INC	$0	–	-179,441	–	-0.74%	–
EBAY	Exit	EBAY INC.	$0	–	-384,057	–	-2.02%	–

Q3 2021

			Value		Shares		↓ Weighting
EFX	Sell	EQUIFAX INC	$97,645,000	-29.5%	385,224	-33.4%	7.39%	-19.0%
FISV	Sell	FISERV INC	$76,239,000	-13.5%	702,509	-14.8%	5.77%	-0.5%
ETSY	Sell	ETSY INC	$53,376,000	-34.6%	256,609	-35.3%	4.04%	-24.8%
NXPI	Sell	NXP SEMICONDUCTORS N V	$52,102,000	-29.5%	265,943	-26.0%	3.94%	-18.9%
NEM	Sell	NEWMONT CORP	$50,259,000	-26.9%	925,377	-14.6%	3.80%	-15.9%
FB	Sell	FACEBOOK INCcl a	$45,528,000	-6.5%	134,116	-4.2%	3.44%	+7.6%
MSFT	Buy	MICROSOFT CORP	$41,574,000	+14.3%	147,435	+9.8%	3.15%	+31.5%
GOOGL	Buy	ALPHABET INCcap stk cl a	$40,291,000	+11.1%	15,067	+1.5%	3.05%	+27.8%
AMZN	Buy	AMAZON COM INC	$34,274,000	-0.9%	10,431	+3.8%	2.59%	+14.0%
EA	Buy	ELECTRONIC ARTS INC	$33,455,000	+2.9%	235,134	+4.1%	2.53%	+18.4%
ZBH	Buy	ZIMMER BIOMET HOLDINGS INC	$28,383,000	+11.2%	193,883	+22.2%	2.15%	+27.9%
EBAY	Sell	EBAY INC.	$26,763,000	-55.0%	384,057	-54.7%	2.02%	-48.3%
ANTM	Sell	ANTHEM INC	$25,350,000	-2.6%	67,984	-0.2%	1.92%	+12.0%
USFD	Buy	US FOODS HLDG CORP	$24,691,000	-3.1%	712,217	+7.2%	1.87%	+11.4%
HAS	Buy	HASBRO INC	$24,488,000	+43.5%	274,404	+52.1%	1.85%	+65.0%
FTDR	Buy	FRONTDOOR INC	$23,169,000	-7.8%	552,837	+9.7%	1.75%	+6.0%
CCK	Sell	CROWN HLDGS INC	$22,481,000	-1.7%	223,023	-0.2%	1.70%	+13.1%
AON	Sell	AON PLC SHScl a	$21,541,000	+4.6%	75,362	-12.6%	1.63%	+20.4%
IBKR	Buy	INTERACTIVE BROKERS GROUP IN	$20,998,000	+15.1%	336,763	+21.4%	1.59%	+32.4%
GOLD	Sell	BARRICK GOLD CORP	$20,398,000	-36.7%	1,129,848	-27.5%	1.54%	-27.2%
MGM	Sell	MGM RESORTS INTERNATIONAL	$18,467,000	-2.8%	427,878	-3.9%	1.40%	+11.9%
TSM	Sell	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$17,919,000	-17.4%	160,454	-11.0%	1.36%	-4.9%
RDSB	Buy	ROYAL DUTCH SHELL PLCspon adr b	$16,154,000	+37.2%	364,818	+20.4%	1.22%	+57.9%
MELI	Sell	MERCADOLIBRE INC	$16,084,000	+2.6%	9,575	-4.8%	1.22%	+18.0%
FCX	Buy	FREEPORT-MCMORAN INCcl b	$16,030,000	+0.3%	492,663	+14.5%	1.21%	+15.4%
DAL	Sell	DELTA AIR LINES INC DEL	$15,345,000	-5.3%	360,037	-3.8%	1.16%	+8.9%
TTE	Buy	TOTALENERGIES SEsponsored ads	$14,323,000	+27.4%	298,774	+20.4%	1.08%	+46.7%
NVDA	Buy	NVIDIA CORPORATION	$13,666,000	+3.0%	65,952	+298.0%	1.03%	+18.6%
WSC	Buy	WILLSCOT MOBIL MINI HLDNG CO	$13,321,000	+44.8%	419,873	+27.2%	1.01%	+66.6%
CBOE	Buy	CBOE GLOBAL MKTS INC	$12,872,000	+8.0%	103,897	+3.8%	0.97%	+24.2%
INTC	Buy	INTEL CORP	$12,302,000	+273.2%	230,844	+293.3%	0.93%	+329.0%
IBM	Sell	INTERNATIONAL BUSINESS MACHS	$11,615,000	-5.8%	83,586	-0.6%	0.88%	+8.4%
HST	Sell	HOST HOTELS & RESORTS INC	$11,433,000	-5.0%	699,992	-0.6%	0.86%	+9.2%
VRT	Sell	VERTIV HOLDINGS CO	$11,128,000	-15.3%	461,832	-4.0%	0.84%	-2.5%
MRK	Buy	MERCK & CO INC	$10,943,000	+14.7%	145,659	+18.8%	0.83%	+31.8%
IT	Sell	GARTNER INC	$10,890,000	-11.5%	35,828	-29.5%	0.82%	+1.7%
TTWO	Sell	TAKE-TWO INTERACTIVE SOFTWAR	$10,864,000	-18.7%	70,496	-6.6%	0.82%	-6.5%
NFLX	New	NETFLIX INC	$10,722,000	–	17,564	–	0.81%	–
TAP	Sell	MOLSON COORS BEVERAGE COcl b	$10,619,000	-14.1%	228,912	-0.6%	0.80%	-1.1%
ON	Sell	ON SEMICONDUCTOR CORP	$10,498,000	+0.4%	229,307	-16.0%	0.79%	+15.4%
LHX	Buy	L3HARRIS TECHNOLOGIES INC	$10,395,000	+15.3%	47,186	+13.2%	0.79%	+32.7%
VIAC	Sell	VIACOMCBS INCcl b	$9,972,000	-13.2%	252,341	-0.6%	0.76%	0.0%
PFE	Sell	PFIZER INC	$9,889,000	-29.6%	229,864	-35.9%	0.75%	-19.0%
IAA	Sell	IAA INC	$9,794,000	-14.8%	179,441	-14.8%	0.74%	-2.0%
VTRS	Buy	VIATRIS INC	$9,652,000	+3.7%	712,134	+9.4%	0.73%	+19.3%
UHS	Sell	UNIVERSAL HLTH SVCS INCcl b	$9,590,000	-6.1%	69,288	-0.6%	0.73%	+8.0%
CAH	Sell	CARDINAL HEALTH INC	$9,486,000	-13.9%	191,750	-0.6%	0.72%	-1.0%
C	Sell	CITIGROUP INC	$9,429,000	-1.4%	134,331	-0.6%	0.71%	+13.5%
SQM	Sell	SOCIEDAD QUIMICA Y MINERA DEspon adr ser b	$9,395,000	+8.3%	174,852	-4.5%	0.71%	+24.7%
KHC	Sell	KRAFT HEINZ CO	$9,384,000	-10.3%	254,805	-0.6%	0.71%	+3.2%
MU	Sell	MICRON TECHNOLOGY INC	$8,958,000	-32.0%	126,173	-18.5%	0.68%	-21.7%
VNO	Sell	VORNADO RLTY TRsh ben int	$8,936,000	-10.5%	212,673	-0.6%	0.68%	+2.9%
GFI	Sell	GOLD FIELDS LTDsponsored adr	$8,882,000	-9.3%	1,093,636	-0.6%	0.67%	+4.3%
HII	Sell	HUNTINGTON INGALLS INDS INC	$8,799,000	-8.9%	45,565	-0.6%	0.67%	+4.7%
XPO	Sell	XPO LOGISTICS INC	$8,505,000	-50.4%	106,849	-12.8%	0.64%	-42.9%
TCOM	Sell	TRIP COM GROUP LTDads	$8,104,000	-17.5%	263,482	-4.9%	0.61%	-5.1%
GSK	Sell	GLAXOSMITHKLINE PLCsponsored adr	$8,065,000	-4.6%	211,032	-0.6%	0.61%	+9.7%
CPA	Sell	COPA HOLDINGS SAcl a	$7,772,000	+3.6%	95,482	-4.1%	0.59%	+19.0%
CCL	Sell	CARNIVAL CORPunit 99/99/9999	$7,398,000	-5.7%	295,720	-0.6%	0.56%	+8.5%
LYV	Sell	LIVE NATION ENTERTAINMENT IN	$7,385,000	+3.2%	81,020	-0.8%	0.56%	+18.7%
BAP	Sell	CREDICORP LTD	$6,576,000	-12.7%	59,265	-4.6%	0.50%	+0.6%
CCJ	Sell	CAMECO CORP	$6,538,000	+12.6%	300,813	-0.6%	0.50%	+29.6%
ARMK	New	ARAMARK	$6,510,000	–	198,056	–	0.49%	–
IONS	Sell	IONIS PHARMACEUTICALS INC	$5,888,000	-20.0%	175,508	-4.9%	0.45%	-7.9%
SCHW	Sell	SCHWAB CHARLES CORP	$5,376,000	-41.2%	73,785	-41.2%	0.41%	-32.3%
SBSW	Sell	SIBANYE STILLWATER LTDsponsored adr	$5,311,000	-26.7%	430,305	-0.6%	0.40%	-15.7%
ATUS	Sell	ALTICE USA INCcl a	$5,098,000	-51.0%	246,006	-19.2%	0.39%	-43.6%
CNHI	Sell	CNH INDL N V	$4,981,000	+2.5%	292,638	-0.6%	0.38%	+17.8%
BWXT	Sell	BWX TECHNOLOGIES INC	$4,412,000	-66.5%	81,896	-63.8%	0.33%	-61.4%
BFAM	New	BRIGHT HORIZONS FAM SOL IN D	$4,360,000	–	31,268	–	0.33%	–
ALC	Sell	ALCON AG	$3,631,000	+16.1%	44,475	-0.4%	0.28%	+33.5%
	New	GXO LOGISTICS INCORPORATED	$3,551,000	–	45,255	–	0.27%	–
PTON	Buy	PELOTON INTERACTIVE INC	$3,423,000	-21.4%	39,319	+12.0%	0.26%	-9.4%
BSX	Sell	BOSTON SCIENTIFIC CORP	$2,873,000	-66.4%	66,199	-66.9%	0.22%	-61.5%
ILMN	Sell	ILLUMINA INC	$2,519,000	-19.0%	6,208	-5.5%	0.19%	-6.4%
FRC	Sell	FIRST REP BK SAN FRANCISCO C	$2,303,000	+1.7%	11,938	-1.3%	0.17%	+16.8%
AEO	Sell	AMERICAN EAGLE OUTFITTERS IN	$2,035,000	-80.2%	78,867	-71.2%	0.15%	-77.3%
FTNT	Exit	FORTINET INC	$0	–	-20,211	–	-0.32%	–
ADP	Exit	AUTOMATIC DATA PROCESSING IN	$0	–	-38,254	–	-0.50%	–
EDU	Exit	NEW ORIENTAL ED & TECHNOLOGYspon adr	$0	–	-1,134,779	–	-0.61%	–

Q2 2021

			Value		Shares		↓ Weighting
EFX	New	EQUIFAX INC	$138,597,000	–	578,416	–	9.12%	–
FISV	New	FISERV INC	$88,160,000	–	824,416	–	5.80%	–
ETSY	New	ETSY INC	$81,633,000	–	396,412	–	5.37%	–
NXPI	New	NXP SEMICONDUCTORS N V	$73,934,000	–	359,237	–	4.86%	–
NEM	New	NEWMONT CORP	$68,715,000	–	1,083,698	–	4.52%	–
EBAY	New	EBAY INC.	$59,538,000	–	847,631	–	3.92%	–
FB	New	FACEBOOK INCcl a	$48,682,000	–	139,948	–	3.20%	–
MSFT	New	MICROSOFT CORP	$36,375,000	–	134,215	–	2.39%	–
GOOGL	New	ALPHABET INCcap stk cl a	$36,262,000	–	14,844	–	2.38%	–
AMZN	New	AMAZON COM INC	$34,585,000	–	10,049	–	2.28%	–
EA	New	ELECTRONIC ARTS INC	$32,510,000	–	225,935	–	2.14%	–
GOLD	New	BARRICK GOLD CORP	$32,240,000	–	1,558,279	–	2.12%	–
ANTM	New	ANTHEM INC	$26,026,000	–	68,137	–	1.71%	–
ZBH	New	ZIMMER BIOMET HOLDINGS INC	$25,531,000	–	158,689	–	1.68%	–
USFD	New	US FOODS HLDG CORP	$25,492,000	–	664,267	–	1.68%	–
FTDR	New	FRONTDOOR INC	$25,126,000	–	504,115	–	1.65%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$23,539,000	–	198,217	–	1.55%	–
CCK	New	CROWN HLDGS INC	$22,860,000	–	223,565	–	1.50%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$21,683,000	–	180,375	–	1.43%	–
AON	New	AON PLC SHScl a	$20,590,000	–	86,200	–	1.35%	–
MGM	New	MGM RESORTS INTERNATIONAL	$18,990,000	–	445,058	–	1.25%	–
IBKR	New	INTERACTIVE BROKERS GROUP IN	$18,243,000	–	277,425	–	1.20%	–
XPO	New	XPO LOGISTICS INC	$17,145,000	–	122,509	–	1.13%	–
HAS	New	HASBRO INC	$17,065,000	–	180,468	–	1.12%	–
DAL	New	DELTA AIR LINES INC DEL	$16,202,000	–	374,353	–	1.07%	–
FCX	New	FREEPORT-MCMORAN INCcl b	$15,978,000	–	430,358	–	1.05%	–
MELI	New	MERCADOLIBRE INC	$15,678,000	–	10,060	–	1.03%	–
PFE	New	PFIZER INC	$14,053,000	–	358,703	–	0.92%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWAR	$13,367,000	–	75,479	–	0.88%	–
NVDA	New	NVIDIA CORPORATION	$13,263,000	–	16,569	–	0.87%	–
BWXT	New	BWX TECHNOLOGIES INC	$13,163,000	–	226,389	–	0.87%	–
MU	New	MICRON TECHNOLOGY INC	$13,170,000	–	154,907	–	0.87%	–
VRT	New	VERTIV HOLDINGS CO	$13,135,000	–	480,919	–	0.86%	–
TAP	New	MOLSON COORS BEVERAGE COcl b	$12,366,000	–	230,214	–	0.81%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$12,328,000	–	84,063	–	0.81%	–
IT	New	GARTNER INC	$12,312,000	–	50,812	–	0.81%	–
HST	New	HOST HOTELS & RESORTS INC	$12,036,000	–	703,988	–	0.79%	–
CBOE	New	CBOE GLOBAL MKTS INC	$11,923,000	–	100,107	–	0.78%	–
RDSB	New	ROYAL DUTCH SHELL PLCspon adr b	$11,772,000	–	303,027	–	0.77%	–
IAA	New	IAA INC	$11,494,000	–	210,648	–	0.76%	–
VIAC	New	VIACOMCBS INCcl b	$11,485,000	–	253,984	–	0.76%	–
TTE	New	TOTALENERGIES SEsponsored ads	$11,240,000	–	248,245	–	0.74%	–
CAH	New	CARDINAL HEALTH INC	$11,016,000	–	192,876	–	0.72%	–
ON	New	ON SEMICONDUCTOR CORP	$10,458,000	–	273,084	–	0.69%	–
KHC	New	KRAFT HEINZ CO	$10,456,000	–	256,281	–	0.69%	–
ATUS	New	ALTICE USA INCcl a	$10,395,000	–	304,354	–	0.68%	–
AEO	New	AMERICAN EAGLE OUTFITTERS IN	$10,291,000	–	274,079	–	0.68%	–
UHS	New	UNIVERSAL HLTH SVCS INCcl b	$10,210,000	–	69,696	–	0.67%	–
VNO	New	VORNADO RLTY TRsh ben int	$9,989,000	–	213,933	–	0.66%	–
TCOM	New	TRIP COM GROUP LTDads	$9,826,000	–	276,985	–	0.65%	–
GFI	New	GOLD FIELDS LTDsponsored adr	$9,793,000	–	1,099,900	–	0.64%	–
HII	New	HUNTINGTON INGALLS INDS INC	$9,661,000	–	45,821	–	0.64%	–
C	New	CITIGROUP INC	$9,562,000	–	135,096	–	0.63%	–
MRK	New	MERCK & CO INC	$9,542,000	–	122,643	–	0.63%	–
EDU	New	NEW ORIENTAL ED & TECHNOLOGYspon adr	$9,298,000	–	1,134,779	–	0.61%	–
VTRS	New	VIATRIS INC	$9,306,000	–	650,943	–	0.61%	–
WSC	New	WILLSCOT MOBIL MINI HLDNG CO	$9,202,000	–	330,047	–	0.60%	–
SCHW	New	SCHWAB CHARLES CORP	$9,137,000	–	125,434	–	0.60%	–
LHX	New	L3HARRIS TECHNOLOGIES INC	$9,017,000	–	41,696	–	0.59%	–
LOPE	New	GRAND CANYON ED INC	$8,722,000	–	96,897	–	0.57%	–
SQM	New	SOCIEDAD QUIMICA Y MINERA DEspon adr ser b	$8,672,000	–	183,136	–	0.57%	–
BSX	New	BOSTON SCIENTIFIC CORP	$8,554,000	–	199,965	–	0.56%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$8,455,000	–	212,241	–	0.56%	–
CCL	New	CARNIVAL CORPunit 99/99/9999	$7,844,000	–	297,429	–	0.52%	–
ADP	New	AUTOMATIC DATA PROCESSING IN	$7,601,000	–	38,254	–	0.50%	–
BAP	New	CREDICORP LTD	$7,531,000	–	62,153	–	0.50%	–
CPA	New	COPA HOLDINGS SAcl a	$7,503,000	–	99,555	–	0.49%	–
IONS	New	IONIS PHARMACEUTICALS INC	$7,361,000	–	184,462	–	0.48%	–
SBSW	New	SIBANYE STILLWATER LTDsponsored adr	$7,244,000	–	432,798	–	0.48%	–
LYV	New	LIVE NATION ENTERTAINMENT IN	$7,156,000	–	81,668	–	0.47%	–
CCJ	New	CAMECO CORP	$5,804,000	–	302,482	–	0.38%	–
CNHI	New	CNH INDL N V	$4,858,000	–	294,308	–	0.32%	–
FTNT	New	FORTINET INC	$4,816,000	–	20,211	–	0.32%	–
PTON	New	PELOTON INTERACTIVE INC CL A	$4,355,000	–	35,099	–	0.29%	–
INTC	New	INTEL CORP	$3,296,000	–	58,687	–	0.22%	–
ALC	New	ALCON AG	$3,127,000	–	44,639	–	0.21%	–
ILMN	New	ILLUMINA INC	$3,108,000	–	6,566	–	0.20%	–
SE	New	SEA LTDsponsored ads	$2,429,000	–	8,842	–	0.16%	–
FRC	New	FIRST REP BK SAN FRANCISCO C	$2,265,000	–	12,094	–	0.15%	–
MRVL	New	MARVELL TECHNOLOGY INC	$1,592,000	–	27,284	–	0.10%	–
SGEN	New	SEAGEN INC	$1,437,000	–	9,099	–	0.10%	–
MMYT	New	MAKEMYTRIP LIMITED MAURITIUS	$832,000	–	27,664	–	0.06%	–

Q4 2020

			Value		Shares		↓ Weighting
BMA	Exit	BANCO MACRO SAspon adr b	$0	–	-8,832	–	-0.01%	–
TAL	Exit	TAL EDUCATION GROUPsponsored adr	$0	–	-1,882	–	-0.01%	–
MMYT	Exit	MAKEMYTRIP LIMITED MAURITIUS	$0	–	-22,030	–	-0.02%	–
MRVL	Exit	MARVELL TECHNOLOGY GROUP LTDord	$0	–	-20,404	–	-0.06%	–
FRC	Exit	FIRST REP BK SAN FRANCISCO C	$0	–	-14,134	–	-0.12%	–
CPA	Exit	COPA HOLDINGS SAcl a	$0	–	-31,398	–	-0.12%	–
ILMN	Exit	ILLUMINA INC	$0	–	-5,553	–	-0.13%	–
CBOE	Exit	CBOE GLOBAL MARKETS INC	$0	–	-20,784	–	-0.14%	–
ALC	Exit	ALCON AG	$0	–	-34,568	–	-0.15%	–
BKNG	Exit	BOOKING HOLDINGS INC	$0	–	-1,269	–	-0.16%	–
LMT	Exit	LOCKHEED MARTIN CORP	$0	–	-5,740	–	-0.16%	–
RE	Exit	EVEREST RE GROUP LTD	$0	–	-15,005	–	-0.22%	–
AEO	Exit	AMERICAN EAGLE OUTFITTERS IN	$0	–	-225,202	–	-0.25%	–
SOHU	Exit	SOHU COM LTDsponsored ads	$0	–	-171,267	–	-0.25%	–
BDX	Exit	BECTON DICKINSON & CO	$0	–	-16,487	–	-0.29%	–
BAP	Exit	CREDICORP LTD	$0	–	-30,970	–	-0.29%	–
PYPL	Exit	PAYPAL HLDGS INC	$0	–	-20,812	–	-0.30%	–
IONS	Exit	IONIS PHARMACEUTICALS INC	$0	–	-91,617	–	-0.32%	–
LOPE	Exit	GRAND CANYON ED INC	$0	–	-54,836	–	-0.33%	–
CCL	Exit	CARNIVAL CORPunit 99/99/9999	$0	–	-293,751	–	-0.33%	–
MGM	Exit	MGM RESORTS INTERNATIONAL	$0	–	-209,200	–	-0.34%	–
CDK	Exit	CDK GLOBAL INC	$0	–	-106,887	–	-0.35%	–
LYV	Exit	LIVE NATION ENTERTAINMENT IN	$0	–	-89,422	–	-0.36%	–
SQM	Exit	SOCIEDAD QUIMICA Y MINERA DEspon adr ser b	$0	–	-155,925	–	-0.38%	–
VIAC	Exit	VIACOMCBS INCcl b	$0	–	-196,060	–	-0.41%	–
CCJ	Exit	CAMECO CORP	$0	–	-545,687	–	-0.41%	–
EFX	Exit	EQUIFAX INC	$0	–	-35,109	–	-0.41%	–
WSC	Exit	WILLSCOT MOBIL MINI HLDNG CO	$0	–	-333,745	–	-0.41%	–
MRK	Exit	MERCK & CO. INC	$0	–	-68,082	–	-0.42%	–
SIX	Exit	SIX FLAGS ENTMT CORP	$0	–	-285,869	–	-0.43%	–
URI	Exit	UNITED RENTALS INC	$0	–	-37,722	–	-0.49%	–
XPO	Exit	XPO LOGISTICS INC	$0	–	-81,284	–	-0.51%	–
MOS	Exit	MOSAIC CO NEW	$0	–	-379,577	–	-0.52%	–
TCOM	Exit	TRIP COM GROUP LTDads	$0	–	-228,359	–	-0.53%	–
CNHI	Exit	CNH INDL N V	$0	–	-956,100	–	-0.55%	–
PFE	Exit	PFIZER INC	$0	–	-209,853	–	-0.57%	–
EQNR	Exit	EQUINOR ASAsponsored adr	$0	–	-587,941	–	-0.62%	–
MELI	Exit	MERCADOLIBRE INC	$0	–	-7,937	–	-0.64%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-229,661	–	-0.64%	–
SBSW	Exit	SIBANYE STILLWATER LTDsponsored adr	$0	–	-780,585	–	-0.65%	–
TTE	Exit	TOTAL SEsponsored ads	$0	–	-271,646	–	-0.69%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWAR	$0	–	-59,662	–	-0.73%	–
EDU	Exit	NEW ORIENTAL ED & TECHNspon adr ser b	$0	–	-66,742	–	-0.74%	–
GFI	Exit	GOLD FIELDS LTDsponsored adr	$0	–	-895,303	–	-0.82%	–
TMUS	Exit	T-MOBILE US INC	$0	–	-97,646	–	-0.83%	–
ANTM	Exit	ANTHEM INC	$0	–	-42,189	–	-0.84%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-337,001	–	-0.86%	–
C	Exit	CITIGROUP INC	$0	–	-275,017	–	-0.88%	–
DAL	Exit	DELTA AIR LINES INC DEL	$0	–	-397,702	–	-0.90%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-121,593	–	-0.90%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$0	–	-151,250	–	-0.91%	–
BWXT	Exit	BWX TECHNOLOGIES INC	$0	–	-218,863	–	-0.92%	–
USFD	Exit	US FOODS HLDG CORP	$0	–	-583,427	–	-0.96%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-277,028	–	-0.97%	–
WH	Exit	WYNDHAM HOTELS & RESORTS INC	$0	–	-264,211	–	-0.99%	–
FCX	Exit	FREEPORT-MCMORAN INCcl b	$0	–	-928,152	–	-1.08%	–
IAA	Exit	IAA INC	$0	–	-284,102	–	-1.10%	–
CCK	Exit	CROWN HLDGS INC	$0	–	-194,948	–	-1.12%	–
IBM	Exit	INTERNATIONAL BUSINESS MACHS	$0	–	-137,564	–	-1.25%	–
AON	Exit	AON PLC SHScl a	$0	–	-83,226	–	-1.28%	–
ZBH	Exit	ZIMMER BIOMET HOLDINGS INC	$0	–	-145,541	–	-1.48%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-156,566	–	-1.52%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-14,008	–	-1.53%	–
ON	Exit	ON SEMICONDUCTOR CORP	$0	–	-971,537	–	-1.57%	–
AMZN	Exit	AMAZON COM INC	$0	–	-7,931	–	-1.86%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-119,740	–	-1.87%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-111,891	–	-2.18%	–
MDT	Exit	MEDTRONIC PLC	$0	–	-285,945	–	-2.21%	–
FTDR	Exit	FRONTDOOR INC	$0	–	-992,302	–	-2.87%	–
ETSY	Exit	ETSY INC	$0	–	-368,172	–	-3.33%	–
NXPI	Exit	NXP SEMICONDUCTORS N V	$0	–	-433,467	–	-4.03%	–
FISV	Exit	FISERV INC	$0	–	-592,970	–	-4.55%	–
NEM	Exit	NEWMONT CORP	$0	–	-1,022,951	–	-4.83%	–
EBAY	Exit	EBAY INC.	$0	–	-1,259,926	–	-4.89%	–
BSX	Exit	BOSTON SCIENTIFIC CORP	$0	–	-5,020,016	–	-14.28%	–
GOLD	Exit	BARRICK GOLD CORP	$0	–	-7,135,188	–	-14.93%	–

Q3 2020

			Value		Shares		↓ Weighting
GOLD	Sell	BARRICK GOLD CORP	$200,710,000	-8.4%	7,135,188	-12.3%	14.93%	-10.9%
BSX	Sell	BOSTON SCIENTIFIC CORP	$191,949,000	+4.5%	5,020,016	-4.1%	14.28%	+1.7%
EBAY	Sell	EBAY INC.	$65,688,000	-17.3%	1,259,926	-16.8%	4.89%	-19.5%
NEM	Sell	NEWMONT CORP	$64,951,000	-2.3%	1,022,951	-5.0%	4.83%	-4.9%
FISV	Buy	FISERV INC	$61,148,000	+18.6%	592,970	+12.3%	4.55%	+15.4%
NXPI	Buy	NXP SEMICONDUCTORS N V	$54,139,000	+23.5%	433,467	+12.8%	4.03%	+20.2%
ETSY	Sell	ETSY INC	$44,812,000	-21.8%	368,172	-31.7%	3.33%	-23.9%
FTDR	Buy	FRONTDOOR INC	$38,637,000	-11.7%	992,302	+0.6%	2.87%	-14.0%
MDT	Sell	MEDTRONIC PLC	$29,736,000	+10.9%	285,945	-2.2%	2.21%	+7.9%
FB	Sell	FACEBOOK INCcl a	$29,325,000	+11.3%	111,891	-3.6%	2.18%	+8.3%
MSFT	Sell	MICROSOFT CORP	$25,202,000	-4.6%	119,740	-7.7%	1.87%	-7.2%
AMZN	Sell	AMAZON COM INC	$24,990,000	-12.6%	7,931	-23.4%	1.86%	-14.9%
ON	Buy	ON SEMICONDUCTOR CORP	$21,087,000	+12.9%	971,537	+3.1%	1.57%	+9.8%
GOOGL	Sell	ALPHABET INCcap stk cl a	$20,544,000	+2.3%	14,008	-1.0%	1.53%	-0.4%
EA	Sell	ELECTRONIC ARTS INC	$20,432,000	-15.2%	156,566	-14.2%	1.52%	-17.5%
ZBH	Buy	ZIMMER BIOMET HOLDINGS INC	$19,828,000	+15.5%	145,541	+1.3%	1.48%	+12.4%
AON	Buy	AON PLC SHScl a	$17,181,000	+8.1%	83,226	+0.9%	1.28%	+5.2%
IBM	Buy	INTERNATIONAL BUSINESS MACHS	$16,749,000	+33.0%	137,564	+32.0%	1.25%	+29.5%
CCK	Sell	CROWN HLDGS INC	$14,994,000	+15.3%	194,948	-2.3%	1.12%	+12.2%
IAA	Buy	IAA INC	$14,804,000	+77.3%	284,102	+31.3%	1.10%	+72.6%
FCX	Buy	FREEPORT-MCMORAN INCcl b	$14,526,000	+60.6%	928,152	+18.8%	1.08%	+56.3%
WH	Buy	WYNDHAM HOTELS & RESORTS INC	$13,352,000	+37.6%	264,211	+16.1%	0.99%	+33.8%
MU	Buy	MICRON TECHNOLOGY INC	$13,018,000	+212.8%	277,028	+243.0%	0.97%	+204.4%
USFD	Buy	US FOODS HLDG CORP	$12,973,000	+18.7%	583,427	+5.3%	0.96%	+15.4%
BWXT	Buy	BWX TECHNOLOGIES INC	$12,333,000	+7.6%	218,863	+8.2%	0.92%	+4.7%
TSM	Sell	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$12,270,000	+13.5%	151,250	-20.5%	0.91%	+10.5%
ICE	Sell	INTERCONTINENTAL EXCHANGE IN	$12,174,000	+6.8%	121,593	-2.2%	0.90%	+3.9%
DAL	Buy	DELTA AIR LINES INC DEL	$12,170,000	+14.5%	397,702	+5.0%	0.90%	+11.5%
C	Buy	CITIGROUP INC	$11,864,000	+46.8%	275,017	+74.0%	0.88%	+42.9%
XOM	Sell	EXXON MOBIL CORP	$11,577,000	-25.0%	337,001	-2.3%	0.86%	-27.0%
ANTM	Buy	ANTHEM INC	$11,339,000	+9.3%	42,189	+6.9%	0.84%	+6.3%
TMUS	Sell	T-MOBILE US INC	$11,175,000	-3.2%	97,646	-11.9%	0.83%	-5.8%
GFI	Sell	GOLD FIELDS LTDsponsored adr	$11,011,000	+15.7%	895,303	-11.6%	0.82%	+12.5%
EDU	Sell	NEW ORIENTAL ED & TECHNspon adr ser b	$9,985,000	+11.1%	66,742	-3.3%	0.74%	+8.2%
TTWO	Sell	TAKE-TWO INTERACTIVE SOFTWAR	$9,864,000	+15.6%	59,662	-2.4%	0.73%	+12.6%
TTE	Sell	TOTAL SEsponsored ads	$9,324,000	-12.2%	271,646	-1.6%	0.69%	-14.7%
SBSW	Sell	SIBANYE STILLWATER LTDsponsored adr	$8,702,000	+14.6%	780,585	-11.1%	0.65%	+11.6%
GSK	Sell	GLAXOSMITHKLINE PLCsponsored adr	$8,650,000	-9.8%	229,661	-2.3%	0.64%	-12.3%
MELI	Sell	MERCADOLIBRE INC	$8,598,000	-16.5%	7,937	-24.0%	0.64%	-18.8%
EQNR	Sell	EQUINOR ASAsponsored adr	$8,272,000	-4.7%	587,941	-1.9%	0.62%	-7.2%
PFE	Sell	PFIZER INC	$7,707,000	+8.4%	209,853	-3.4%	0.57%	+5.5%
CNHI	Sell	CNH INDL N V	$7,445,000	+10.1%	956,100	-1.1%	0.55%	+7.2%
TCOM	Buy	TRIP COM GROUP LTDads	$7,116,000	+80.9%	228,359	+50.5%	0.53%	+75.7%
MOS	Buy	MOSAIC CO NEW	$6,940,000	+92.7%	379,577	+31.8%	0.52%	+87.6%
XPO	New	XPO LOGISTICS INC	$6,886,000	–	81,284	–	0.51%	–
URI	Sell	UNITED RENTALS INC	$6,587,000	+7.6%	37,722	-8.2%	0.49%	+4.7%
SIX	Buy	SIX FLAGS ENTMT CORP	$5,807,000	+175.5%	285,869	+160.6%	0.43%	+168.3%
MRK	Sell	MERCK & CO. INC	$5,651,000	+3.7%	68,082	-3.4%	0.42%	+1.0%
WSC	New	WILLSCOT MOBIL MINI HLDNG CO	$5,571,000	–	333,745	–	0.41%	–
EFX	Buy	EQUIFAX INC	$5,512,000	+4.5%	35,109	+14.4%	0.41%	+1.7%
CCJ	Sell	CAMECO CORP	$5,515,000	-2.5%	545,687	-1.1%	0.41%	-5.1%
VIAC	Sell	VIACOMCBS INCcl b	$5,495,000	+17.9%	196,060	-1.8%	0.41%	+14.9%
SQM	Sell	SOCIEDAD QUIMICA Y MINERA DEspon adr ser b	$5,059,000	+22.4%	155,925	-1.7%	0.38%	+19.0%
LYV	Sell	LIVE NATION ENTERTAINMENT IN	$4,821,000	+18.6%	89,422	-2.5%	0.36%	+15.4%
CDK	Sell	CDK GLOBAL INC	$4,662,000	+1.7%	106,887	-3.4%	0.35%	-0.9%
MGM	New	MGM RESORTS INTERNATIONAL	$4,553,000	–	209,200	–	0.34%	–
CCL	Buy	CARNIVAL CORPunit 99/99/9999	$4,462,000	+53.3%	293,751	+65.7%	0.33%	+49.5%
LOPE	New	GRAND CANYON ED INC	$4,387,000	–	54,836	–	0.33%	–
IONS	Buy	IONIS PHARMACEUTICALS INC	$4,350,000	-14.4%	91,617	+6.4%	0.32%	-16.5%
PYPL	Sell	PAYPAL HLDGS INC	$4,103,000	-43.9%	20,812	-50.4%	0.30%	-45.4%
BAP	Buy	CREDICORP LTD	$3,843,000	-6.6%	30,970	+0.7%	0.29%	-8.9%
BDX	Sell	BECTON DICKINSON & CO	$3,839,000	-52.3%	16,487	-51.0%	0.29%	-53.5%
SOHU	Buy	SOHU COM LTDsponsored ads	$3,404,000	+128.8%	171,267	+6.1%	0.25%	+121.9%
AEO	New	AMERICAN EAGLE OUTFITTERS IN	$3,338,000	–	225,202	–	0.25%	–
RE	Sell	EVEREST RE GROUP LTD	$2,966,000	-22.8%	15,005	-19.5%	0.22%	-24.8%
LMT	Sell	LOCKHEED MARTIN CORP	$2,202,000	-56.0%	5,740	-58.1%	0.16%	-57.1%
BKNG	Sell	BOOKING HOLDINGS INC	$2,172,000	-41.9%	1,269	-45.9%	0.16%	-43.4%
ALC	Sell	ALCON AG	$1,965,000	-3.2%	34,568	-2.2%	0.15%	-5.8%
CBOE	Sell	CBOE GLOBAL MARKETS INC	$1,825,000	-49.6%	20,784	-46.5%	0.14%	-50.9%
ILMN	Buy	ILLUMINA INC	$1,718,000	-0.3%	5,553	+19.4%	0.13%	-3.0%
CPA	Buy	COPA HOLDINGS SAcl a	$1,582,000	+83.1%	31,398	+83.8%	0.12%	+78.8%
FRC	Sell	FIRST REP BK SAN FRANCISCO C	$1,543,000	-6.4%	14,134	-9.1%	0.12%	-8.7%
MRVL	Sell	MARVELL TECHNOLOGY GROUP LTDord	$811,000	+0.4%	20,404	-11.4%	0.06%	-3.2%
MMYT	Buy	MAKEMYTRIP LIMITED MAURITIUS	$339,000	+3.4%	22,030	+2.8%	0.02%	0.0%
TAL	Sell	TAL EDUCATION GROUPsponsored adr	$143,000	-15.9%	1,882	-24.4%	0.01%	-15.4%
BMA	Buy	BANCO MACRO SAspon adr b	$126,000	-21.2%	8,832	+2.7%	0.01%	-25.0%
TMUSR	Exit	T-MOBILE US INCright 07/27/2020	$0	–	-123,055	–	-0.00%	–
SGEN	Exit	SEATTLE GENETICS INC	$0	–	-8,310	–	-0.11%	–
MMC	Exit	MARSH & MCLENNAN COS INC	$0	–	-44,739	–	-0.37%	–
KR	Exit	KROGER CO	$0	–	-152,323	–	-0.39%	–

Q2 2020

			Value		Shares		↓ Weighting
GOLD	New	BARRICK GOLD CORPORATION	$219,217,000	–	8,135,268	–	16.75%	–
BSX	New	BOSTON SCIENTIFIC CORP	$183,740,000	–	5,231,988	–	14.04%	–
EBAY	New	EBAY INC.	$79,447,000	–	1,514,343	–	6.07%	–
NEM	New	NEWMONT CORP	$66,489,000	–	1,076,658	–	5.08%	–
ETSY	New	ETSY INC	$57,284,000	–	539,115	–	4.38%	–
FISV	New	FISERV INC	$51,553,000	–	527,970	–	3.94%	–
NXPI	New	NXP SEMICONDUCTORS N V	$43,823,000	–	384,187	–	3.35%	–
FTDR	New	FRONTDOOR INC	$43,736,000	–	986,360	–	3.34%	–
AMZN	New	AMAZON COM INC	$28,580,000	–	10,357	–	2.18%	–
MDT	New	MEDTRONIC PLC	$26,821,000	–	292,416	–	2.05%	–
MSFT	New	MICROSOFT CORP	$26,418,000	–	129,781	–	2.02%	–
FB	New	FACEBOOK INCcl a	$26,354,000	–	116,031	–	2.01%	–
EA	New	ELECTRONIC ARTS INC	$24,104,000	–	182,496	–	1.84%	–
GOOGL	New	ALPHABET INCcap stk cl a	$20,077,000	–	14,155	–	1.53%	–
ON	New	ON SEMICONDUCTOR CORP	$18,679,000	–	942,184	–	1.43%	–
ZBH	New	ZIMMER BIOMET HOLDINGS INC	$17,161,000	–	143,741	–	1.31%	–
AON	New	AON PLC	$15,894,000	–	82,505	–	1.22%	–
XOM	New	EXXON MOBIL CORP	$15,426,000	–	344,869	–	1.18%	–
CCK	New	CROWN HLDGS INC	$13,002,000	–	199,577	–	0.99%	–
IBM	New	INTERNATIONAL BUSINESS MACHS	$12,590,000	–	104,223	–	0.96%	–
TMUS	New	T-MOBILE US INC	$11,543,000	–	110,807	–	0.88%	–
BWXT	New	BWX TECHNOLOGIES INC	$11,463,000	–	202,337	–	0.88%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$11,396,000	–	124,375	–	0.87%	–
USFD	New	US FOODS HLDG CORP	$10,933,000	–	554,294	–	0.84%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$10,809,000	–	190,346	–	0.83%	–
TTE	New	TOTAL S.A.sponsored ads	$10,619,000	–	276,048	–	0.81%	–
DAL	New	DELTA AIR LINES INC DEL	$10,626,000	–	378,724	–	0.81%	–
ANTM	New	ANTHEM INC	$10,378,000	–	39,453	–	0.79%	–
MELI	New	MERCADOLIBRE INC	$10,296,000	–	10,442	–	0.79%	–
WH	New	WYNDHAM HOTELS & RESORTS INC	$9,705,000	–	227,650	–	0.74%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$9,591,000	–	235,066	–	0.73%	–
GFI	New	GOLD FIELDS LTDsponsored adr	$9,520,000	–	1,012,574	–	0.73%	–
FCX	New	FREEPORT-MCMORAN INCcl b	$9,043,000	–	781,442	–	0.69%	–
EDU	New	NEW ORIENTAL ED & TECHNOLOGYspon adr	$8,987,000	–	68,994	–	0.69%	–
EQNR	New	EQUINOR ASAsponsored adr	$8,679,000	–	599,242	–	0.66%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWAR	$8,535,000	–	61,134	–	0.65%	–
IAA	New	IAA INC	$8,349,000	–	216,420	–	0.64%	–
C	New	CITIGROUP INC	$8,079,000	–	158,062	–	0.62%	–
BDX	New	BECTON DICKINSON & CO	$8,045,000	–	33,614	–	0.62%	–
SBSW	New	SIBANYE STILLWATER LTDsponsored adr	$7,594,000	–	877,694	–	0.58%	–
PYPL	New	PAYPAL HLDGS INC	$7,315,000	–	41,973	–	0.56%	–
PFE	New	PFIZER INC	$7,108,000	–	217,312	–	0.54%	–
CNHI	New	CNH INDL N V	$6,764,000	–	966,900	–	0.52%	–
URI	New	UNITED RENTALS INC	$6,123,000	–	41,074	–	0.47%	–
CCJ	New	CAMECO CORP	$5,658,000	–	551,862	–	0.43%	–
MRK	New	MERCK & CO. INC	$5,449,000	–	70,448	–	0.42%	–
EFX	New	EQUIFAX INC	$5,275,000	–	30,681	–	0.40%	–
KR	New	KROGER CO	$5,157,000	–	152,323	–	0.39%	–
IONS	New	IONIS PHARMACEUTICALS INC	$5,079,000	–	86,123	–	0.39%	–
LMT	New	LOCKHEED MARTIN CORP	$5,004,000	–	13,710	–	0.38%	–
MMC	New	MARSH & MCLENNAN COS INC	$4,805,000	–	44,739	–	0.37%	–
VIAC	New	VIACOMCBS INCcl b	$4,659,000	–	199,738	–	0.36%	–
CDK	New	CDK GLOBAL INC	$4,582,000	–	110,601	–	0.35%	–
MU	New	MICRON TECHNOLOGY INC	$4,162,000	–	80,765	–	0.32%	–
SQM	New	SOCIEDAD QUIMICA Y MINERA DEspon adr ser b	$4,134,000	–	158,541	–	0.32%	–
BAP	New	CREDICORP LTD	$4,114,000	–	30,769	–	0.31%	–
LYV	New	LIVE NATION ENTERTAINMENT IN	$4,066,000	–	91,708	–	0.31%	–
TCOM	New	TRIP COM GROUP LTDads	$3,934,000	–	151,739	–	0.30%	–
RE	New	EVEREST RE GROUP LTD	$3,843,000	–	18,634	–	0.29%	–
BKNG	New	BOOKING HOLDINGS INC	$3,737,000	–	2,346	–	0.29%	–
CBOE	New	CBOE GLOBAL MARKETS INC	$3,622,000	–	38,818	–	0.28%	–
MOS	New	MOSAIC CO	$3,602,000	–	287,893	–	0.28%	–
CCL	New	CARNIVAL CORPunit 99/99/9999	$2,911,000	–	177,264	–	0.22%	–
SIX	New	SIX FLAGS ENTMT CORP	$2,108,000	–	109,693	–	0.16%	–
ALC	New	ALCON AG	$2,029,000	–	35,350	–	0.16%	–
ILMN	New	ILLUMINA INC	$1,723,000	–	4,652	–	0.13%	–
FRC	New	FIRST REP BK SAN FRANCISCO C	$1,648,000	–	15,549	–	0.13%	–
SOHU	New	SOHU COM LTDsponsored ads	$1,488,000	–	161,487	–	0.11%	–
SGEN	New	SEATTLE GENETICS INC	$1,412,000	–	8,310	–	0.11%	–
CPA	New	COPA HOLDINGS SAcl a	$864,000	–	17,087	–	0.07%	–
MRVL	New	MARVELL TECHNOLOGY GROUP LTDord	$808,000	–	23,028	–	0.06%	–
MMYT	New	MAKEMYTRIP LIMITED MAURITIUS	$328,000	–	21,422	–	0.02%	–
TAL	New	TAL EDUCATION GROUPsponsored ads	$170,000	–	2,488	–	0.01%	–
BMA	New	BANCO MACRO SAspon adr b	$160,000	–	8,603	–	0.01%	–
TMUSR	New	T-MOBILE US INCright 07/27/2020	$21,000	–	123,055	–	0.00%	–

Q4 2019

			Value		Shares		↓ Weighting
TAL	Exit	TAL EDUCATION GROUPsponsored ads	$0	–	-3,336	–	-0.01%	–
BMA	Exit	BANCO MACRO SAspon adr b	$0	–	-6,698	–	-0.02%	–
MMYT	Exit	MAKEMYTRIP LIMITEDsponsored adr	$0	–	-17,690	–	-0.03%	–
PEP	Exit	PEPSICO INC	$0	–	-3,237	–	-0.04%	–
BVN	Exit	COMPANIA DE MINAS BUENAVENTUsponsored adr	$0	–	-33,500	–	-0.04%	–
GRUB	Exit	GRUBHUB INC	$0	–	-9,558	–	-0.05%	–
MRVL	Exit	MARVELL TECHNOLOGY GROUP LTDord	$0	–	-24,802	–	-0.05%	–
BIDU	Exit	BAIDU INCspon adr rep a	$0	–	-6,714	–	-0.06%	–
SGEN	Exit	SEATTLE GENETICS INC	$0	–	-9,117	–	-0.07%	–
CPA	Exit	COPA HOLDINGS SAcl a	$0	–	-9,742	–	-0.08%	–
ILMN	Exit	ILLUMINA INC	$0	–	-3,852	–	-0.10%	–
DHI	Exit	D R HORTON INC	$0	–	-29,656	–	-0.13%	–
SOHU	Exit	SOHU COM LTDsponsored ads	$0	–	-168,834	–	-0.15%	–
IPGP	Exit	IPG PHOTONICS CORP	$0	–	-16,272	–	-0.19%	–
AOS	Exit	SMITH A O CORP	$0	–	-48,899	–	-0.20%	–
KR	Exit	KROGER CO	$0	–	-95,352	–	-0.21%	–
CTRP	Exit	CTRIP COM INTL LTDsponsored ads	$0	–	-100,713	–	-0.25%	–
COHR	Exit	COHERENT INC	$0	–	-19,278	–	-0.25%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-70,628	–	-0.26%	–
SQM	Exit	SOCIEDAD QUIMICA MINERA DE Cspon adr ser b	$0	–	-110,486	–	-0.26%	–
CDK	Exit	CDK GLOBAL INC	$0	–	-67,737	–	-0.28%	–
RIG	Exit	TRANSOCEAN LTD	$0	–	-818,042	–	-0.31%	–
HOLX	Exit	HOLOGIC INC	$0	–	-73,239	–	-0.31%	–
DOFSQ	Exit	DIAMOND OFFSHORE DRILLING IN	$0	–	-734,829	–	-0.35%	–
IONS	Exit	IONIS PHARMACEUTICALS INC	$0	–	-70,856	–	-0.36%	–
MHK	Exit	MOHAWK INDS INC	$0	–	-34,698	–	-0.36%	–
VIAB	Exit	VIACOM INCnew cl b	$0	–	-195,201	–	-0.40%	–
BAP	Exit	CREDICORP LTD	$0	–	-23,463	–	-0.42%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-79,038	–	-0.42%	–
WFC	Exit	WELLS FARGO CO	$0	–	-99,460	–	-0.43%	–
CB	Exit	CHUBB LIMITED	$0	–	-31,084	–	-0.43%	–
EQNR	Exit	EQUINOR ASAsponsored adr	$0	–	-278,400	–	-0.45%	–
MELI	Exit	MERCADOLIBRE INC	$0	–	-10,051	–	-0.47%	–
WLTW	Exit	WILLIS TOWERS WATSON PUB LTD	$0	–	-29,257	–	-0.48%	–
ALK	Exit	ALASKA AIR GROUP INC	$0	–	-87,518	–	-0.48%	–
CACI	Exit	CACI INTL INCcl a	$0	–	-24,756	–	-0.49%	–
MMC	Exit	MARSH & MCLENNAN COS INC	$0	–	-58,081	–	-0.49%	–
BWXT	Exit	BWX TECHNOLOGIES INC	$0	–	-101,594	–	-0.49%	–
PE	Exit	PARSLEY ENERGY INCcl a	$0	–	-357,872	–	-0.51%	–
DG	Exit	DOLLAR GEN CORP	$0	–	-38,815	–	-0.52%	–
EA	Exit	ELECTRONIC ARTS INC	$0	–	-63,234	–	-0.52%	–
PFE	Exit	PFIZER INC	$0	–	-174,930	–	-0.53%	–
OII	Exit	OCEANEERING INTL INC	$0	–	-467,260	–	-0.54%	–
AMZN	Exit	AMAZON COM INC	$0	–	-3,728	–	-0.55%	–
ANTM	Exit	ANTHEM INC	$0	–	-27,184	–	-0.55%	–
CVX	Exit	CHEVRON CORP	$0	–	-55,877	–	-0.56%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWAR	$0	–	-56,795	–	-0.60%	–
CBOE	Exit	CBOE GLOBAL MARKETS INC	$0	–	-63,911	–	-0.62%	–
AEP	Exit	AMERICAN ELEC PWR CO INC	$0	–	-79,829	–	-0.64%	–
EFX	Exit	EQUIFAX INC	$0	–	-53,834	–	-0.64%	–
BAH	Exit	BOOZ ALLEN HAMILTON HLDG CORcl a	$0	–	-107,185	–	-0.65%	–
EDU	Exit	NEW ORIENTAL ED & TECH GRP Ispon adr	$0	–	-69,479	–	-0.65%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-130,040	–	-0.66%	–
ZBH	Exit	ZIMMER BIOMET HLDGS INC	$0	–	-59,127	–	-0.69%	–
FCX	Exit	FREEPORT-MCMORAN INCcl b	$0	–	-894,110	–	-0.73%	–
DOX	Exit	AMDOCS LTD	$0	–	-138,305	–	-0.78%	–
ALC	Exit	ALCON INC	$0	–	-159,444	–	-0.79%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$0	–	-207,677	–	-0.82%	–
LMT	Exit	LOCKHEED MARTIN CORP	$0	–	-26,261	–	-0.87%	–
CCJ	Exit	CAMECO CORP	$0	–	-1,151,657	–	-0.93%	–
RE	Exit	EVEREST RE GROUP LTD	$0	–	-44,236	–	-1.00%	–
MAS	Exit	MASCO CORP	$0	–	-303,120	–	-1.07%	–
AON	Exit	AON PLC	$0	–	-67,174	–	-1.10%	–
SBGL	Exit	SIBANYE STILLWATERsponsored adr	$0	–	-2,499,489	–	-1.15%	–
USFD	Exit	US FOODS HLDG CORP	$0	–	-364,640	–	-1.27%	–
GSK	Exit	GLAXOSMITHKLINE PLCsponsored adr	$0	–	-368,563	–	-1.34%	–
TMUS	Exit	T MOBILE US INC	$0	–	-200,101	–	-1.34%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-171,196	–	-1.34%	–
FISV	Exit	FISERV INC	$0	–	-155,913	–	-1.37%	–
VALPQ	Exit	VALARIS PLC	$0	–	-3,439,225	–	-1.40%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-98,266	–	-1.48%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-131,605	–	-1.55%	–
EBAY	Exit	EBAY INC	$0	–	-563,900	–	-1.87%	–
MOS	Exit	MOSAIC CO	$0	–	-1,112,543	–	-1.94%	–
GOOGL	Exit	ALPHABET INC CAPstk cl a	$0	–	-19,072	–	-1.98%	–
FTDR	Exit	FRONTDOOR INC	$0	–	-619,709	–	-2.56%	–
FRC	Exit	FIRST REP BK SAN FRANCISCO C	$0	–	-355,999	–	-2.92%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-630,080	–	-3.78%	–
GFI	Exit	GOLD FIELDS LTDnew sponsored adr	$0	–	-9,705,612	–	-4.05%	–
NEM	Exit	NEWMONT GOLDCORP CORPORATION	$0	–	-1,559,252	–	-5.02%	–
BKNG	Exit	BOOKING HLDGS INC	$0	–	-84,658	–	-14.10%	–
GOLD	Exit	BARRICK GOLD CORPORATION	$0	–	-15,067,012	–	-22.16%	–

Q3 2019

			Value		Shares		↓ Weighting
GOLD	Sell	BARRICK GOLD CORPORATION	$261,367,000	-5.5%	15,067,012	-14.0%	22.16%	+4.4%
BKNG	Sell	BOOKING HLDGS INC	$166,313,000	+1.7%	84,658	-2.8%	14.10%	+12.4%
NEM	Sell	NEWMONT GOLDCORP CORPORATION	$59,185,000	-25.6%	1,559,252	-24.4%	5.02%	-17.7%
GFI	Sell	GOLD FIELDS LTDnew sponsored adr	$47,798,000	-40.0%	9,705,612	-34.0%	4.05%	-33.7%
XOM	Sell	EXXON MOBIL CORP	$44,533,000	-12.9%	630,080	-5.4%	3.78%	-3.7%
FRC	Sell	FIRST REP BK SAN FRANCISCO C	$34,459,000	-10.0%	355,999	-9.1%	2.92%	-0.5%
FTDR	Sell	FRONTDOOR INC	$30,129,000	+4.3%	619,709	-6.4%	2.56%	+15.3%
GOOGL	Buy	ALPHABET INC CAPstk cl a	$23,312,000	+19.0%	19,072	+5.6%	1.98%	+31.5%
MOS	Buy	MOSAIC CO	$22,829,000	-14.3%	1,112,543	+4.7%	1.94%	-5.3%
EBAY	Buy	EBAY INC	$22,002,000	+15.7%	563,900	+17.3%	1.87%	+27.9%
MSFT	Sell	MICROSOFT CORP	$18,315,000	+1.8%	131,605	-1.8%	1.55%	+12.5%
FB	Sell	FACEBOOK INCcl a	$17,516,000	-10.7%	98,266	-3.2%	1.48%	-1.4%
VALPQ	New	VALARIS PLC	$16,559,000	–	3,439,225	–	1.40%	–
FISV	Buy	FISERV INC	$16,167,000	+22.0%	155,913	+7.4%	1.37%	+34.8%
ICE	Sell	INTERCONTINENTAL EXCHANGE IN	$15,812,000	+0.7%	171,196	-6.1%	1.34%	+11.4%
TMUS	Sell	T MOBILE US INC	$15,777,000	-1.6%	200,101	-7.3%	1.34%	+8.8%
GSK	Sell	GLAXOSMITHKLINE PLCsponsored adr	$15,746,000	-37.9%	368,563	-41.7%	1.34%	-31.4%
USFD	Sell	US FOODS HLDG CORP	$15,001,000	+12.4%	364,640	-2.1%	1.27%	+24.2%
SBGL	Sell	SIBANYE STILLWATERsponsored adr	$13,510,000	-33.8%	2,499,489	-41.7%	1.15%	-26.8%
AON	Buy	AON PLC	$13,016,000	+4.7%	67,174	+4.4%	1.10%	+15.7%
MAS	Buy	MASCO CORP	$12,646,000	+9.0%	303,120	+2.7%	1.07%	+20.4%
RE	Buy	EVEREST RE GROUP LTD	$11,782,000	+11.0%	44,236	+3.2%	1.00%	+22.6%
CCJ	Sell	CAMECO CORP	$10,951,000	-28.5%	1,151,657	-19.2%	0.93%	-20.9%
LMT	Sell	LOCKHEED MARTIN CORP	$10,253,000	-9.1%	26,261	-15.2%	0.87%	+0.5%
TSM	Sell	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$9,662,000	+4.5%	207,677	-11.9%	0.82%	+15.5%
ALC	Sell	ALCON INC	$9,302,000	-11.9%	159,444	-6.6%	0.79%	-2.6%
DOX	Buy	AMDOCS LTD	$9,152,000	+8.8%	138,305	+2.3%	0.78%	+20.3%
FCX	Buy	FREEPORT-MCMORAN INCcl b	$8,565,000	+43.9%	894,110	+74.7%	0.73%	+58.9%
ZBH	New	ZIMMER BIOMET HLDGS INC	$8,124,000	–	59,127	–	0.69%	–
CTSH	Sell	COGNIZANT TECHNOLOGY SOLUTIOcl a	$7,845,000	-14.6%	130,040	-10.2%	0.66%	-5.7%
EDU	Sell	NEW ORIENTAL ED & TECH GRP Ispon adr	$7,703,000	+2.1%	69,479	-10.9%	0.65%	+12.8%
BAH	Sell	BOOZ ALLEN HAMILTON HLDG CORcl a	$7,620,000	-27.6%	107,185	-32.5%	0.65%	-20.0%
EFX	Buy	EQUIFAX INC	$7,580,000	+5.2%	53,834	+1.2%	0.64%	+16.3%
AEP	Buy	AMERICAN ELEC PWR CO INC	$7,486,000	+14.2%	79,829	+7.4%	0.64%	+26.2%
CBOE	Buy	CBOE GLOBAL MARKETS INC	$7,351,000	+11.4%	63,911	+0.6%	0.62%	+23.1%
TTWO	Sell	TAKE-TWO INTERACTIVE SOFTWAR	$7,126,000	-3.5%	56,795	-12.6%	0.60%	+6.5%
CVX	Sell	CHEVRON CORP	$6,633,000	-44.6%	55,877	-41.9%	0.56%	-38.8%
ANTM	Buy	ANTHEM INC	$6,533,000	-12.2%	27,184	+3.2%	0.55%	-3.0%
AMZN	Buy	AMAZON COM INC	$6,478,000	+5.6%	3,728	+15.3%	0.55%	+16.6%
OII	Sell	OCEANEERING INTL INC	$6,338,000	-67.2%	467,260	-50.6%	0.54%	-63.8%
PFE	Sell	PFIZER INC	$6,291,000	-38.2%	174,930	-25.4%	0.53%	-31.7%
EA	Buy	ELECTRONIC ARTS INC	$6,192,000	+18.2%	63,234	+22.4%	0.52%	+30.6%
DG	Sell	DOLLAR GEN CORP	$6,175,000	-42.2%	38,815	-50.8%	0.52%	-36.1%
PE	Sell	PARSLEY ENERGY INCcl a	$6,018,000	-12.1%	357,872	-0.4%	0.51%	-2.9%
BWXT	Buy	BWX TECHNOLOGIES INC	$5,818,000	+18.1%	101,594	+7.6%	0.49%	+30.4%
MMC	Sell	MARSH & MCLENNAN COS INC	$5,817,000	-1.2%	58,081	-1.4%	0.49%	+9.1%
CACI	Buy	CACI INTL INCcl a	$5,731,000	+25.9%	24,756	+11.4%	0.49%	+39.3%
ALK	Buy	ALASKA AIR GROUP INC	$5,686,000	+2.5%	87,518	+1.0%	0.48%	+13.1%
WLTW	Buy	WILLIS TOWERS WATSON PUB LTD	$5,651,000	+18.0%	29,257	+17.2%	0.48%	+30.5%
MELI	Sell	MERCADOLIBRE INC	$5,546,000	-19.6%	10,051	-10.7%	0.47%	-11.2%
EQNR	New	EQUINOR ASAsponsored adr	$5,281,000	–	278,400	–	0.45%	–
CB	Sell	CHUBB LIMITED	$5,023,000	+3.7%	31,084	-5.4%	0.43%	+14.5%
WFC	Buy	WELLS FARGO CO	$5,022,000	+17.5%	99,460	+10.3%	0.43%	+29.9%
GILD	Sell	GILEAD SCIENCES INC	$5,014,000	-10.8%	79,038	-4.9%	0.42%	-1.4%
BAP	Sell	CREDICORP LTD	$4,895,000	-18.3%	23,463	-10.2%	0.42%	-9.8%
VIAB	Buy	VIACOM INCnew cl b	$4,695,000	-7.9%	195,201	+14.5%	0.40%	+1.8%
MHK	Buy	MOHAWK INDS INC	$4,309,000	-4.7%	34,698	+13.4%	0.36%	+5.2%
IONS	Sell	IONIS PHARMACEUTICALS INC	$4,249,000	-17.1%	70,856	-11.0%	0.36%	-8.4%
DOFSQ	Sell	DIAMOND OFFSHORE DRILLING IN	$4,090,000	-80.9%	734,829	-69.5%	0.35%	-78.8%
HOLX	Buy	HOLOGIC INC	$3,701,000	+6.1%	73,239	+1.0%	0.31%	+17.2%
RIG	Sell	TRANSOCEAN LTD	$3,660,000	-59.4%	818,042	-41.7%	0.31%	-55.2%
CDK	Buy	CDK GLOBAL INC	$3,261,000	+129.2%	67,737	+135.7%	0.28%	+154.1%
SQM	Sell	SOCIEDAD QUIMICA MINERA DE Cspon adr ser b	$3,073,000	-20.4%	110,486	-10.8%	0.26%	-11.8%
MU	Buy	MICRON TECHNOLOGY INC	$3,029,000	+56.9%	70,628	+41.5%	0.26%	+73.6%
COHR	Buy	COHERENT INC	$2,966,000	+73.6%	19,278	+54.1%	0.25%	+92.4%
CTRP	Sell	CTRIP COM INTL LTDsponsored ads	$2,953,000	-28.3%	100,713	-9.5%	0.25%	-20.9%
KR	Buy	KROGER CO	$2,461,000	+78.3%	95,352	+50.2%	0.21%	+97.2%
AOS	Buy	SMITH A O CORP	$2,335,000	+52.4%	48,899	+50.8%	0.20%	+67.8%
IPGP	Buy	IPG PHOTONICS CORP	$2,209,000	+35.5%	16,272	+54.2%	0.19%	+49.6%
SOHU	Sell	SOHU COM LTDsponsored ads	$1,717,000	-27.8%	168,834	-0.4%	0.15%	-19.8%
DHI	Sell	D R HORTON INC	$1,565,000	-4.2%	29,656	-21.6%	0.13%	+6.4%
ILMN	Sell	ILLUMINA INC	$1,173,000	-20.0%	3,852	-3.2%	0.10%	-12.4%
CPA	Sell	COPA HOLDINGS SAcl a	$963,000	-4.9%	9,742	-6.0%	0.08%	+5.1%
SGEN	Sell	SEATTLE GENETICS INC	$779,000	+21.7%	9,117	-1.3%	0.07%	+34.7%
BIDU	Sell	BAIDU INCspon adr rep a	$691,000	-16.9%	6,714	-5.2%	0.06%	-7.8%
MRVL	Sell	MARVELL TECHNOLOGY GROUP LTDord	$620,000	+3.2%	24,802	-1.3%	0.05%	+15.2%
GRUB	Buy	GRUBHUB INC	$538,000	-26.8%	9,558	+1.6%	0.05%	-17.9%
PEP	Sell	PEPSICO INC	$444,000	-1.1%	3,237	-5.3%	0.04%	+11.8%
LKQ	Exit	LKQ CORP	$0	–	-148,439	–	-0.30%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-55,267	–	-0.48%	–
AEM	Exit	AGNICO EAGLE MINES LTD	$0	–	-185,958	–	-0.73%	–

Q2 2019

			Value		Shares		↓ Weighting
GOLD	New	BARRICK GOLD CORPORATION	$276,665,000	–	17,513,902	–	21.22%	–
BKNG	New	BOOKING HLDGS INC	$163,528,000	–	87,080	–	12.55%	–
GFI	New	GOLD FIELDS LTDnew sponsored adr	$79,647,000	–	14,697,207	–	6.11%	–
NEM	New	NEWMONT GOLDCORP	$79,509,000	–	2,063,274	–	6.10%	–
XOM	New	EXXON MOBIL CORP	$51,107,000	–	665,802	–	3.92%	–
FRC	New	FIRST REP BK SAN FRANCISCO C	$38,288,000	–	391,430	–	2.94%	–
FTDR	New	FRONTDOOR INC	$28,882,000	–	662,069	–	2.22%	–
MOS	New	MOSAIC CO	$26,647,000	–	1,062,787	–	2.04%	–
GSK	New	GLAXOSMITHKLINE PLCsponsored adr	$25,361,000	–	632,627	–	1.95%	–
DOFSQ	New	DIAMOND OFFSHORE DRILLING IN	$21,380,000	–	2,406,222	–	1.64%	–
SBGL	New	SIBANYE STILLWATERsponsored adr	$20,411,000	–	4,289,712	–	1.57%	–
FB	New	FACEBOOK INCcl a	$19,624,000	–	101,508	–	1.51%	–
GOOGL	New	ALPHABET INCcap stk cl a	$19,588,000	–	18,059	–	1.50%	–
OII	New	OCEANEERING INTL INC	$19,326,000	–	946,213	–	1.48%	–
EBAY	New	EBAY INC	$19,020,000	–	480,712	–	1.46%	–
MSFT	New	MICROSOFT CORP	$17,990,000	–	134,064	–	1.38%	–
TMUS	New	T MOBILE US INC	$16,030,000	–	215,848	–	1.23%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$15,695,000	–	182,313	–	1.20%	–
CCJ	New	CAMECO CORP	$15,320,000	–	1,425,361	–	1.18%	–
USFD	New	US FOODS HLDG CORP	$13,346,000	–	372,580	–	1.02%	–
FISV	New	FISERV INC	$13,255,000	–	145,151	–	1.02%	–
AON	New	AON PLC	$12,435,000	–	64,329	–	0.95%	–
CVX	New	CHEVRON CORP	$11,983,000	–	96,131	–	0.92%	–
MAS	New	MASCO CORP	$11,603,000	–	295,190	–	0.89%	–
LMT	New	LOCKHEED MARTIN CORP	$11,280,000	–	30,975	–	0.86%	–
DG	New	DOLLAR GEN CORP	$10,684,000	–	78,916	–	0.82%	–
RE	New	EVEREST RE GROUP LTD	$10,618,000	–	42,883	–	0.82%	–
ALC	New	ALCON INC	$10,555,000	–	170,773	–	0.81%	–
BAH	New	BOOZ ALLEN HAMILTON HLDG CORcl a	$10,529,000	–	158,757	–	0.81%	–
PFE	New	PFIZER INC	$10,172,000	–	234,409	–	0.78%	–
AEM	New	AGNICO EAGLE MINES LTD	$9,545,000	–	185,958	–	0.73%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored ads	$9,245,000	–	235,616	–	0.71%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$9,191,000	–	144,737	–	0.70%	–
RIG	New	TRANSOCEAN LTD	$9,016,000	–	1,404,108	–	0.69%	–
DOX	New	AMDOCS LTD	$8,413,000	–	135,260	–	0.64%	–
EDU	New	NEW ORIENTAL ED & TECH GRP Ispon adr	$7,546,000	–	78,004	–	0.58%	–
ANTM	New	ANTHEM INC	$7,445,000	–	26,337	–	0.57%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWAR	$7,388,000	–	64,964	–	0.57%	–
EFX	New	EQUIFAX INC	$7,208,000	–	53,209	–	0.55%	–
MELI	New	MERCADOLIBRE INC	$6,899,000	–	11,258	–	0.53%	–
PE	New	PARSLEY ENERGY INCcl a	$6,845,000	–	359,449	–	0.52%	–
CBOE	New	CBOE GLOBAL MARKETS INC	$6,597,000	–	63,555	–	0.51%	–
AEP	New	AMERICAN ELEC PWR CO INC	$6,553,000	–	74,335	–	0.50%	–
JPM	New	JPMORGAN CHASE & CO	$6,189,000	–	55,267	–	0.48%	–
AMZN	New	AMAZON COM INC	$6,134,000	–	3,234	–	0.47%	–
BAP	New	CREDICORP LTD	$5,994,000	–	26,139	–	0.46%	–
FCX	New	FREEPORT-MCMORAN INCcl b	$5,952,000	–	511,800	–	0.46%	–
MMC	New	MARSH & MCLENNAN COS INC	$5,887,000	–	58,913	–	0.45%	–
GILD	New	GILEAD SCIENCES INC	$5,622,000	–	83,072	–	0.43%	–
ALK	New	ALASKA AIR GROUP INC	$5,549,000	–	86,681	–	0.43%	–
EA	New	ELECTRONIC ARTS INC	$5,239,000	–	51,649	–	0.40%	–
IONS	New	IONIS PHARMACEUTICALS INC	$5,128,000	–	79,651	–	0.39%	–
VIAB	New	VIACOM INCnew cl b	$5,100,000	–	170,449	–	0.39%	–
BWXT	New	BWX TECHNOLOGIES INC	$4,927,000	–	94,410	–	0.38%	–
CB	New	CHUBB LIMITED	$4,846,000	–	32,842	–	0.37%	–
WLTW	New	WILLIS TOWERS WATSON PUB LTD	$4,789,000	–	24,959	–	0.37%	–
CACI	New	CACI INTL INCcl a	$4,552,000	–	22,213	–	0.35%	–
MHK	New	MOHAWK INDS INC	$4,520,000	–	30,600	–	0.35%	–
WFC	New	WELLS FARGO CO	$4,274,000	–	90,167	–	0.33%	–
CTRP	New	CTRIP COM INTL LTDsponsored ads	$4,116,000	–	111,315	–	0.32%	–
LKQ	New	LKQ CORP	$3,957,000	–	148,439	–	0.30%	–
SQM	New	SOCIEDAD QUIMICA MINERA DE Cspon adr ser b	$3,861,000	–	123,895	–	0.30%	–
HOLX	New	HOLOGIC INC	$3,489,000	–	72,535	–	0.27%	–
SOHU	New	SOHU COM LTDsponsored ads	$2,378,000	–	169,539	–	0.18%	–
MU	New	MICRON TECHNOLOGY INC	$1,930,000	–	49,921	–	0.15%	–
COHR	New	COHERENT INC	$1,709,000	–	12,511	–	0.13%	–
IPGP	New	IPG PHOTONICS CORP	$1,630,000	–	10,552	–	0.12%	–
DHI	New	D R HORTON INC	$1,634,000	–	37,826	–	0.12%	–
AOS	New	SMITH A O CORP	$1,532,000	–	32,432	–	0.12%	–
ILMN	New	ILLUMINA INC	$1,467,000	–	3,978	–	0.11%	–
CDK	New	CDK GLOBAL INC	$1,423,000	–	28,742	–	0.11%	–
KR	New	KROGER CO	$1,380,000	–	63,470	–	0.11%	–
CPA	New	COPA HOLDINGS SAcl a	$1,013,000	–	10,366	–	0.08%	–
BIDU	New	BAIDU INCspon adr rep a	$832,000	–	7,079	–	0.06%	–
GRUB	New	GRUBHUB INC	$735,000	–	9,412	–	0.06%	–
SGEN	New	SEATTLE GENETICS INC	$640,000	–	9,238	–	0.05%	–
MRVL	New	MARVELL TECHNOLOGY GROUP	$601,000	–	25,132	–	0.05%	–
BVN	New	COMPANIA DE MINAS BUENAVENTUsponsored adr	$559,000	–	33,500	–	0.04%	–
BMA	New	BANCO MACRO SAspon adr b	$489,000	–	6,698	–	0.04%	–
MMYT	New	MAKEMYTRIP LIMITED MAURITIUS	$439,000	–	17,690	–	0.03%	–
PEP	New	PEPSICO INC	$449,000	–	3,417	–	0.03%	–
TAL	New	TAL EDUCATION GROUPsponsored ads	$127,000	–	3,336	–	0.01%	–

Q4 2018

			Value		Shares		↓ Weighting
TAL	Exit	TAL ED GROUPsponsoresd ads	$0	–	-3,336	–	-0.01%	–
BMA	Exit	BANCO MACRO SAspon adr b	$0	–	-6,698	–	-0.02%	–
BVN	Exit	COMPANIA DE MINAS BUENAVENTUsponsored adr	$0	–	-33,500	–	-0.03%	–
MRVL	Exit	MARVELL TECHNOLOGY GROUP LTDord	$0	–	-25,132	–	-0.04%	–
MMYT	Exit	MAKEMYTRIP LIMITED MAURITIUS	$0	–	-17,690	–	-0.04%	–
PEP	Exit	PEPSICO INC	$0	–	-4,970	–	-0.04%	–
SGEN	Exit	SEATTLE GENETICS INC	$0	–	-9,238	–	-0.05%	–
CPA	Exit	COPA HOLDINGS SAcl a	$0	–	-10,366	–	-0.06%	–
CTRP	Exit	CTRIP COM INTL LTD	$0	–	-28,698	–	-0.08%	–
ILMN	Exit	ILLUMINA INC	$0	–	-4,192	–	-0.12%	–
CBOE	Exit	CBOE GLOBAL MARKETS INC	$0	–	-23,471	–	-0.17%	–
CRTO	Exit	CRITEO S Aspons ads	$0	–	-108,038	–	-0.19%	–
KR	Exit	KROGER CO	$0	–	-89,028	–	-0.20%	–
ALK	Exit	ALASKA AIR GROUP INC	$0	–	-43,938	–	-0.23%	–
ZION	Exit	ZIONS BANCORPORATION	$0	–	-62,233	–	-0.24%	–
SOHU	Exit	SOHU COM LTDsponsored ads	$0	–	-167,896	–	-0.25%	–
MELI	Exit	MERCADOLIBRE INC	$0	–	-12,101	–	-0.31%	–
SQM	Exit	SOCIEDAD QUIMICA MINERA DE Cspon adr ser b	$0	–	-91,288	–	-0.32%	–
HOLX	Exit	HOLOGIC INC	$0	–	-105,302	–	-0.32%	–
NDAQ	Exit	NASDAQ INC	$0	–	-54,843	–	-0.36%	–
CELG	Exit	CELGENE CORP	$0	–	-55,191	–	-0.37%	–
FTDR	Exit	FRONTDOOR INC	$0	–	-126,335	–	-0.39%	–
NYT	Exit	NEW YORK TIMES COcl a	$0	–	-235,590	–	-0.41%	–
BIDU	Exit	BAIDU INCspon adr rep a	$0	–	-24,708	–	-0.43%	–
EDU	Exit	NEW ORIENTAL ED & TECH GRP Ispon adr	$0	–	-79,863	–	-0.45%	–
MMC	Exit	MARSH & MCLENNAN COS INC	$0	–	-72,283	–	-0.45%	–
BAP	Exit	CREDICORP LTD	$0	–	-27,029	–	-0.46%	–
IONS	Exit	IONIS PHARMACEUTICALS INC	$0	–	-122,452	–	-0.48%	–
CB	Exit	CHUBB LIMITED	$0	–	-47,832	–	-0.48%	–
ANF	Exit	ABERCROMBIE & FITCH COcl a	$0	–	-324,385	–	-0.52%	–
TJX	Exit	TJX COS INC	$0	–	-62,104	–	-0.52%	–
AEM	Exit	AGNICO EAGLE MINES LTD	$0	–	-203,827	–	-0.53%	–
ORCL	Exit	ORACLE CORP	$0	–	-136,948	–	-0.53%	–
CACI	Exit	CACI INTL INCcl a	$0	–	-40,334	–	-0.56%	–
USFD	Exit	US FOODS HLDG CORP	$0	–	-246,804	–	-0.57%	–
AMZN	Exit	AMAZON COM INC	$0	–	-3,861	–	-0.58%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWAR	$0	–	-61,208	–	-0.64%	–
LKQ	Exit	LKQ CORP	$0	–	-274,500	–	-0.66%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$0	–	-239,504	–	-0.80%	–
WLTW	Exit	WILLIS TOWERS WATSON PUB LTD	$0	–	-75,056	–	-0.80%	–
PE	Exit	PARSLEY ENERGY INCcl a	$0	–	-365,660	–	-0.81%	–
RE	Exit	EVEREST RE GROUP LTD	$0	–	-47,794	–	-0.82%	–
DOX	Exit	AMDOCS LTD	$0	–	-173,978	–	-0.87%	–
PFE	Exit	PFIZER INC	$0	–	-284,795	–	-0.95%	–
BAH	Exit	BOOZ ALLEN HAMILTON HLDG CORcl a	$0	–	-254,059	–	-0.95%	–
GES	Exit	GUESS INC	$0	–	-570,301	–	-0.97%	–
DG	Exit	DOLLAR GEN CORP	$0	–	-120,867	–	-1.00%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-190,504	–	-1.08%	–
AEP	Exit	AMERICAN ELEC PWR INC	$0	–	-203,632	–	-1.09%	–
CVX	Exit	CHEVRON CORP	$0	–	-118,452	–	-1.09%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-203,550	–	-1.18%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-101,584	–	-1.26%	–
TMUS	Exit	T MOBILE US INC	$0	–	-241,778	–	-1.28%	–
WFC	Exit	WELLS FARGO CO	$0	–	-323,802	–	-1.28%	–
ANTM	Exit	ANTHEM INC	$0	–	-64,312	–	-1.33%	–
VIAB	Exit	VIACOM INCnew cl b	$0	–	-539,767	–	-1.37%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-238,504	–	-1.39%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-168,084	–	-1.45%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-182,466	–	-1.55%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-17,749	–	-1.62%	–
EBAY	Exit	EBAY INC	$0	–	-737,507	–	-1.84%	–
LMT	Exit	LOCKHEED MARTIN CORP	$0	–	-70,857	–	-1.85%	–
FRC	Exit	FIRST REP BK SAN FRANCISCO C	$0	–	-448,032	–	-3.24%	–
OII	Exit	OCEANEERING INTL INC	$0	–	-1,623,871	–	-3.38%	–
XOM	Exit	EXXON MOBIL CORP	$0	–	-549,550	–	-3.52%	–
DOFSQ	Exit	DIAMOND OFFSHORE DRILLING IN	$0	–	-2,440,119	–	-3.68%	–
MOS	Exit	MOSAIC CO	$0	–	-1,818,927	–	-4.46%	–
GFI	Exit	GOLD FIELDS LTDnew sponsored adr	$0	–	-25,281,087	–	-4.61%	–
GG	Exit	GOLDCORP INC	$0	–	-10,034,717	–	-7.72%	–
ESV	Exit	ENSCO PLC SHSclass a	$0	–	-18,197,587	–	-11.58%	–
GOLD	Exit	BARRICK GOLD CORP	$0	–	-20,460,799	–	-17.10%	–

Q3 2018

			Value		Shares		↓ Weighting
GOLD	Buy	BARRICK GOLD CORP	$226,706,000	-9.7%	20,460,799	+7.1%	17.10%	-12.0%
ESV	Buy	ENSCO PLC SHSclass a	$153,588,000	+24.6%	18,197,587	+7.2%	11.58%	+21.4%
GG	Buy	GOLDCORP INC	$102,354,000	-13.8%	10,034,717	+15.8%	7.72%	-16.1%
GFI	Buy	GOLD FIELDS LTDnew sponsored adr	$61,180,000	-20.9%	25,281,087	+16.6%	4.61%	-23.0%
MOS	Buy	MOSAIC CO	$59,079,000	+33.3%	1,818,927	+15.1%	4.46%	+29.8%
DOFSQ	Buy	DIAMOND OFFSHORE DRILLING IN	$48,802,000	+1.9%	2,440,119	+6.2%	3.68%	-0.8%
OII	Sell	OCEANEERING INTL INC	$44,819,000	-6.0%	1,623,871	-13.3%	3.38%	-8.5%
FRC	Buy	FIRST REP BK SAN FRANCISCO C	$43,011,000	+11.3%	448,032	+12.2%	3.24%	+8.4%
LMT	Buy	LOCKHEED MARTIN CORP	$24,514,000	+341.5%	70,857	+277.0%	1.85%	+330.0%
EBAY	Buy	EBAY INC	$24,352,000	+119.1%	737,507	+140.6%	1.84%	+113.4%
GOOGL	Buy	ALPHABET INCcap stk cl a	$21,424,000	+13.3%	17,749	+6.0%	1.62%	+10.4%
JPM	Sell	JPMORGAN CHASE & CO	$20,589,000	-5.8%	182,466	-13.0%	1.55%	-8.2%
MSFT	Buy	MICROSOFT CORP	$19,224,000	+19.7%	168,084	+3.2%	1.45%	+16.6%
GILD	Sell	GILEAD SCIENCES INC	$18,415,000	+1.6%	238,504	-6.8%	1.39%	-1.1%
VIAB	Buy	VIACOM INCnew cl b	$18,223,000	+333.2%	539,767	+287.0%	1.37%	+321.5%
ANTM	Buy	ANTHEM INC	$17,625,000	+16.4%	64,312	+1.1%	1.33%	+13.3%
WFC	Buy	WELLS FARGO CO	$17,019,000	+23.8%	323,802	+30.6%	1.28%	+20.6%
TMUS	Buy	T MOBILE US INC	$16,968,000	+22.0%	241,778	+3.9%	1.28%	+18.8%
FB	Buy	FACEBOOK INCcl a	$16,707,000	-14.0%	101,584	+1.6%	1.26%	-16.3%
CTSH	Buy	COGNIZANT TECHNOLOGY SOLUTIOcl a	$15,704,000	+18.4%	203,550	+21.2%	1.18%	+15.3%
CVX	Buy	CHEVRON CORP	$14,484,000	+6.6%	118,452	+10.2%	1.09%	+3.7%
AEP	Sell	AMERICAN ELEC PWR INC	$14,433,000	-1.9%	203,632	-4.2%	1.09%	-4.5%
ICE	Buy	INTERCONTINENTAL EXCHANGE IN	$14,267,000	+3.2%	190,504	+1.4%	1.08%	+0.5%
DG	Sell	DOLLAR GEN CORP	$13,211,000	+10.7%	120,867	-0.1%	1.00%	+7.8%
GES	Buy	GUESS INC	$12,889,000	+8.5%	570,301	+2.7%	0.97%	+5.5%
BAH	Sell	BOOZ ALLEN HAMILTON HLDG CORcl a	$12,609,000	-9.1%	254,059	-19.9%	0.95%	-11.5%
PFE	Buy	PFIZER INC	$12,551,000	+26.0%	284,795	+3.7%	0.95%	+22.7%
DOX	Buy	AMDOCS LTD	$11,479,000	+6.8%	173,978	+7.1%	0.87%	+4.0%
RE	Buy	EVEREST RE GROUP LTD	$10,919,000	+2.7%	47,794	+3.6%	0.82%	0.0%
PE	Buy	PARSLEY ENERGY INCcl a	$10,696,000	+18.9%	365,660	+23.1%	0.81%	+15.8%
WLTW	Buy	WILLIS TOWERS WATSON PUB LTD	$10,578,000	-6.0%	75,056	+1.1%	0.80%	-8.5%
TSM	Buy	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$10,576,000	+34.8%	239,504	+11.6%	0.80%	+31.2%
LKQ	Buy	LKQ CORP	$8,693,000	-0.2%	274,500	+0.6%	0.66%	-2.8%
TTWO	Buy	TAKE-TWO INTERACTIVE SOFTWAR	$8,446,000	+19.0%	61,208	+2.0%	0.64%	+15.8%
AMZN	Buy	AMAZON COM INC	$7,734,000	+710.7%	3,861	+588.2%	0.58%	+687.8%
USFD	Buy	US FOODS HLDG CORP	$7,606,000	-6.4%	246,804	+14.9%	0.57%	-8.7%
CACI	Sell	CACI INTL INCcl a	$7,428,000	-9.9%	40,334	-17.5%	0.56%	-12.2%
ORCL	Sell	ORACLE CORP	$7,061,000	+14.3%	136,948	-2.3%	0.53%	+11.3%
AEM	Buy	AGNICO EAGLE MINES LTD	$6,971,000	-17.1%	203,827	+11.1%	0.53%	-19.2%
TJX	Sell	TJX COS INC	$6,957,000	-38.4%	62,104	-47.6%	0.52%	-39.9%
ANF	Sell	ABERCROMBIE & FITCH COcl a	$6,851,000	-16.7%	324,385	-3.4%	0.52%	-18.8%
CB	Sell	CHUBB LIMITED	$6,392,000	-3.4%	47,832	-8.2%	0.48%	-6.0%
IONS	Buy	IONIS PHARMACEUTICALS INC	$6,316,000	+45.5%	122,452	+17.5%	0.48%	+41.7%
BAP	Buy	CREDICORP LTD	$6,030,000	+14.3%	27,029	+15.3%	0.46%	+11.2%
MMC	Buy	MARSH & MCLENNAN COS INC	$5,979,000	+6.5%	72,283	+5.5%	0.45%	+3.7%
EDU	Buy	NEW ORIENTAL ED & TECH GRP Ispon adr	$5,911,000	-7.6%	79,863	+18.2%	0.45%	-9.9%
BIDU	Buy	BAIDU INCspon adr rep a	$5,650,000	+8.5%	24,708	+15.3%	0.43%	+5.4%
NYT	Buy	NEW YORK TIMES COcl a	$5,454,000	-0.0%	235,590	+11.8%	0.41%	-2.8%
FTDR	New	FRONTDOOR INC	$5,180,000	–	126,335	–	0.39%	–
CELG	Sell	CELGENE CORP	$4,939,000	-1.8%	55,191	-12.8%	0.37%	-4.6%
NDAQ	Sell	NASDAQ INC	$4,706,000	-36.9%	54,843	-32.9%	0.36%	-38.6%
HOLX	Buy	HOLOGIC INC	$4,315,000	+4.7%	105,302	+1.5%	0.32%	+1.9%
SQM	Buy	SOCIEDAD QUIMICA MINERA DE Cspon adr ser b	$4,174,000	+501.4%	91,288	+532.0%	0.32%	+483.3%
MELI	Buy	MERCADOLIBRE INC	$4,120,000	+36.4%	12,101	+19.8%	0.31%	+32.9%
SOHU	Sell	SOHU COM LTDsponsored ads	$3,338,000	-48.3%	167,896	-7.6%	0.25%	-49.6%
ZION	Sell	ZIONS BANCORPORATION	$3,121,000	-18.4%	62,233	-14.3%	0.24%	-20.6%
ALK	New	ALASKA AIR GROUP INC	$3,026,000	–	43,938	–	0.23%	–
KR	Sell	KROGER CO	$2,592,000	-0.6%	89,028	-2.9%	0.20%	-3.5%
CRTO	Sell	CRITEO S Aspons ads	$2,478,000	-33.3%	108,038	-4.4%	0.19%	-35.1%
CBOE	New	CBOE GLOBAL MARKETS INC	$2,252,000	–	23,471	–	0.17%	–
ILMN	Buy	ILLUMINA INC	$1,539,000	+158.2%	4,192	+96.5%	0.12%	+152.2%
CTRP	Buy	CTRIP COM INTL LTD	$1,067,000	+194.8%	28,698	+277.6%	0.08%	+185.7%
CPA	Buy	COPA HOLDINGS SAcl a	$828,000	+65.9%	10,366	+96.5%	0.06%	+59.0%
SGEN	Buy	SEATTLE GENETICS INC	$712,000	+128.2%	9,238	+96.6%	0.05%	+125.0%
PEP	Buy	PEPSICO INC	$556,000	+105.9%	4,970	+100.1%	0.04%	+100.0%
MMYT	Buy	MAKEMYTRIP LIMITED MAURITIUS	$486,000	+49.5%	17,690	+96.6%	0.04%	+48.0%
MRVL	New	MARVELL TECHNOLOGY GROUP LTDord	$485,000	–	25,132	–	0.04%	–
BVN	Sell	COMPANIA DE MINAS BUENAVENTUsponsored adr	$449,000	-97.6%	33,500	-97.6%	0.03%	-97.7%
BMA	Buy	BANCO MACRO SAspon adr b	$277,000	+38.5%	6,698	+96.5%	0.02%	+40.0%
TAL	Sell	TAL ED GROUPsponsoresd ads	$86,000	-32.8%	3,336	-4.0%	0.01%	-40.0%
CAVM	Exit	CAVIUM INC	$0	–	-5,877	–	-0.04%	–
AEO	Exit	AMERICAN EAGLE OUTFITTERS NE	$0	–	-89,195	–	-0.16%	–
USB	Exit	US BANCORP DEL	$0	–	-53,364	–	-0.21%	–
ABC	Exit	AMERISOURCEBERGEN CORP	$0	–	-40,224	–	-0.27%	–
SERV	Exit	SERVICEMASTER GLOBAL HLDGS I	$0	–	-68,260	–	-0.31%	–
NBL	Exit	NOBLE ENERGY INC	$0	–	-119,876	–	-0.33%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-24,827	–	-0.34%	–

Q2 2018

			Value		Shares		↓ Weighting
GOLD	New	BARRICK GOLD CORP	$250,940,000	–	19,111,957	–	19.44%	–
ESV	New	ENSCO PLC	$123,216,000	–	16,971,857	–	9.54%	–
GG	New	GOLDCORP INC	$118,767,000	–	8,662,771	–	9.20%	–
GFI	New	GOLD FIELDS LTDnew sponsored adr	$77,388,000	–	21,677,346	–	6.00%	–
DOFSQ	New	DIAMOND OFFSHORE DRILLING IN	$47,910,000	–	2,296,760	–	3.71%	–
OII	New	OCEANEERING INTL INC	$47,697,000	–	1,873,400	–	3.70%	–
XOM	New	EXXON MOBIL CORP	$45,464,000	–	549,550	–	3.52%	–
MOS	New	MOSAIC CO NEW	$44,317,000	–	1,579,917	–	3.43%	–
FRC	New	FIRST REP BK SAN FRANCISCO C	$38,646,000	–	399,272	–	2.99%	–
JPM	New	JPMORGAN CHASE & CO	$21,848,000	–	209,671	–	1.69%	–
FB	New	FACEBOOK INCcl a	$19,423,000	–	99,954	–	1.50%	–
GOOGL	New	ALPHABET INCcap stk cl a	$18,903,000	–	16,740	–	1.46%	–
BVN	New	COMPANIA DE MINAS BUENAVENTUsponsored adr	$18,882,000	–	1,385,290	–	1.46%	–
GILD	New	GILEAD SCIENCES INC	$18,131,000	–	255,940	–	1.40%	–
MSFT	New	MICROSOFT CORP	$16,061,000	–	162,876	–	1.24%	–
ANTM	New	ANTHEM INC	$15,137,000	–	63,592	–	1.17%	–
AEP	New	AMERICAN ELEC PWR INC	$14,714,000	–	212,470	–	1.14%	–
TMUS	New	T MOBILE US INC	$13,906,000	–	232,735	–	1.08%	–
BAH	New	BOOZ ALLEN HAMILTON HLDG CORcl a	$13,878,000	–	317,350	–	1.08%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$13,820,000	–	187,906	–	1.07%	–
WFC	New	WELLS FARGO CO	$13,745,000	–	247,930	–	1.06%	–
CVX	New	CHEVRON CORP	$13,592,000	–	107,508	–	1.05%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$13,263,000	–	167,912	–	1.03%	–
DG	New	DOLLAR GEN CORP	$11,931,000	–	120,999	–	0.92%	–
GES	New	GUESS INC	$11,884,000	–	555,304	–	0.92%	–
TJX	New	TJX COS INC NEW	$11,285,000	–	118,561	–	0.87%	–
WLTW	New	WILLIS TOWERS WATSON PUB LTD	$11,257,000	–	74,252	–	0.87%	–
EBAY	New	EBAY INC	$11,115,000	–	306,540	–	0.86%	–
DOX	New	AMDOCS LTD	$10,751,000	–	162,422	–	0.83%	–
RE	New	EVEREST RE GROUP LTD	$10,632,000	–	46,129	–	0.82%	–
PFE	New	PFIZER INC	$9,963,000	–	274,607	–	0.77%	–
PE	New	PARSLEY ENERGY INCcl a	$8,995,000	–	297,067	–	0.70%	–
LKQ	New	LKQ CORP	$8,708,000	–	272,970	–	0.68%	–
AEM	New	AGNICO EAGLE MINES LTD	$8,410,000	–	183,496	–	0.65%	–
CACI	New	CACI INTL INCcl a	$8,240,000	–	48,887	–	0.64%	–
ANF	New	ABERCROMBIE & FITCH COcl a	$8,220,000	–	335,791	–	0.64%	–
USFD	New	US FOODS HLDG CORP	$8,122,000	–	214,749	–	0.63%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$7,844,000	–	214,549	–	0.61%	–
NDAQ	New	NASDAQ INC	$7,457,000	–	81,702	–	0.58%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWAR	$7,099,000	–	59,982	–	0.55%	–
CB	New	CHUBB LIMITED	$6,620,000	–	52,116	–	0.51%	–
SOHU	New	SOHU COM LTDsponsored ads added	$6,451,000	–	181,707	–	0.50%	–
EDU	New	NEW ORIENTAL ED & TECH GRP Ispon adr	$6,395,000	–	67,555	–	0.50%	–
ORCL	New	ORACLE CORP	$6,178,000	–	140,213	–	0.48%	–
MMC	New	MARSH & MCLENNAN COS INC	$5,616,000	–	68,510	–	0.44%	–
LMT	New	LOCKHEED MARTIN CORP	$5,553,000	–	18,795	–	0.43%	–
NYT	New	NEW YORK TIMES COcl a	$5,456,000	–	210,659	–	0.42%	–
BAP	New	CREDICORP LTD	$5,277,000	–	23,442	–	0.41%	–
BIDU	New	BAIDU INC SPONspon adr r	$5,209,000	–	21,436	–	0.40%	–
CELG	New	CELGENE CORP	$5,029,000	–	63,320	–	0.39%	–
LH	New	LABORATORY CORP AMER HLDGS	$4,457,000	–	24,827	–	0.34%	–
IONS	New	IONIS PHARMACEUTICALS INC	$4,342,000	–	104,199	–	0.34%	–
NBL	New	NOBLE ENERGY INC	$4,229,000	–	119,876	–	0.33%	–
VIAB	New	VIACOM INCnew cl b	$4,207,000	–	139,486	–	0.33%	–
HOLX	New	HOLOGIC INC	$4,123,000	–	103,713	–	0.32%	–
SERV	New	SERVICEMASTER GLOBAL HLDGS I	$4,059,000	–	68,260	–	0.31%	–
ZION	New	ZIONS BANCORPORATION	$3,824,000	–	72,584	–	0.30%	–
CRTO	New	CRITEO S Aspons ads	$3,714,000	–	113,056	–	0.29%	–
ABC	New	AMERISOURCEBERGEN CORP	$3,430,000	–	40,224	–	0.27%	–
MELI	New	MERCADOLIBRE INC	$3,020,000	–	10,102	–	0.23%	–
USB	New	US BANCORP DEL	$2,669,000	–	53,364	–	0.21%	–
KR	New	KROGER CO	$2,608,000	–	91,683	–	0.20%	–
AEO	New	AMERICAN EAGLE OUTFITTERS NE	$2,074,000	–	89,195	–	0.16%	–
AMZN	New	AMAZON COM INC	$954,000	–	561	–	0.07%	–
SQM	New	SOCIEDAD QUIMICA MINERA DE Cspon adr ser b	$694,000	–	14,444	–	0.05%	–
ILMN	New	ILLUMINA INC	$596,000	–	2,133	–	0.05%	–
CAVM	New	CAVIUM INC	$508,000	–	5,877	–	0.04%	–
CPA	New	COPA HOLDINGS SAcl a	$499,000	–	5,274	–	0.04%	–
CTRP	New	CTRIP COM INTL LTD	$362,000	–	7,600	–	0.03%	–
MMYT	New	MAKEMYTRIP LIMITED MAURITIUS	$325,000	–	9,000	–	0.02%	–
SGEN	New	SEATTLE GENETICS INC	$312,000	–	4,700	–	0.02%	–
PEP	New	PEPSICO INC	$270,000	–	2,484	–	0.02%	–
BMA	New	BANCO MACRO SAspon adr b	$200,000	–	3,408	–	0.02%	–
TAL	New	TAL ED GROUPsponsored ads	$128,000	–	3,474	–	0.01%	–

Q4 2017

			Value		Shares		↓ Weighting
MMYT	Exit	MAKEMYTRIP LIMITED MAURITIUS	$0	–	-9,000	–	-0.02%	–
ILMN	Exit	ILLUMINA INC	$0	–	-1,866	–	-0.03%	–
BMA	Exit	BANCO MACRO SAspon adr b	$0	–	-3,408	–	-0.03%	–
CTRP	Exit	CTRIP COM INTL LTD	$0	–	-7,600	–	-0.03%	–
CAVM	Exit	CAVIUM INC	$0	–	-6,518	–	-0.04%	–
AMZN	Exit	AMAZON COM INC	$0	–	-580	–	-0.04%	–
CPA	Exit	COPA HOLDINGS SAcl a	$0	–	-5,941	–	-0.06%	–
SQM	Exit	SOCIEDAD QUIMICA MINERA DE Cspon adr ser b	$0	–	-14,935	–	-0.07%	–
AOBC	Exit	AMERICAN OUTDOOR BRANDS CORP	$0	–	-144,573	–	-0.18%	–
CRTO	Exit	CRITEO S Aspons ads	$0	–	-56,874	–	-0.19%	–
MELI	Exit	MERCADOLIBRE INC	$0	–	-9,241	–	-0.20%	–
AU	Exit	ANGLOGOLD ASHANTI LTDsponsored adr	$0	–	-264,780	–	-0.20%	–
WWE	Exit	WORLD WRESTLING ENTMT INCcl a	$0	–	-113,805	–	-0.22%	–
NBL	Exit	NOBLE ENERGY INC	$0	–	-100,108	–	-0.23%	–
KR	Exit	KROGER CO	$0	–	-155,196	–	-0.25%	–
TWNK	Exit	HOSTESS BRANDS INCcl a	$0	–	-240,285	–	-0.27%	–
ZION	Exit	ZIONS BANCORPORATION	$0	–	-70,103	–	-0.27%	–
IONS	Exit	IONIS PHARMACEUTICALS INC	$0	–	-74,196	–	-0.31%	–
LOPE	Exit	GRAND CANYON ED INC	$0	–	-42,547	–	-0.32%	–
DOX	Exit	AMDOCS LTD	$0	–	-63,811	–	-0.33%	–
BAP	Exit	CREDICORP LTD	$0	–	-21,636	–	-0.36%	–
USB	Exit	US BANCORP DEL	$0	–	-82,687	–	-0.36%	–
USFD	Exit	US FOODS HLDG CORP	$0	–	-175,641	–	-0.38%	–
WLTW	Exit	WILLIS TOWERS WATSON PUB	$0	–	-30,589	–	-0.38%	–
CELG	Exit	CELGENE CORP	$0	–	-33,681	–	-0.40%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-83,738	–	-0.42%	–
MMC	Exit	MARSH & MCLENNAN COS	$0	–	-62,068	–	-0.42%	–
BIDU	Exit	BAIDU INCspon adr rep a	$0	–	-22,039	–	-0.44%	–
EDU	Exit	NEW ORIENTAL ED & TECH GRP Ispon adr	$0	–	-62,695	–	-0.45%	–
SERV	Exit	SERVICEMASTER GLOBAL HLDGS I	$0	–	-122,252	–	-0.46%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-74,359	–	-0.49%	–
AAPL	Exit	APPLE INC	$0	–	-42,245	–	-0.53%	–
ABC	Exit	AMERISOURCEBERGEN CORP	$0	–	-85,567	–	-0.58%	–
CMCSA	Exit	COMCAST CORPnew cl a	$0	–	-188,589	–	-0.59%	–
SWKS	Exit	SKYWORKS SOLUTIONS INC	$0	–	-74,273	–	-0.62%	–
NDAQ	Exit	NASDAQ INC	$0	–	-98,819	–	-0.62%	–
PE	Exit	PARSLEY ENERGY INCcl a	$0	–	-301,234	–	-0.65%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$0	–	-219,909	–	-0.67%	–
DG	Exit	DOLLAR GEN CORP	$0	–	-106,307	–	-0.70%	–
CACI	Exit	CACI INTL INCcl a	$0	–	-63,514	–	-0.72%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-62,967	–	-0.77%	–
ORCL	Exit	ORACLE CORP	$0	–	-212,817	–	-0.84%	–
EXPR	Exit	EXPRESS INC	$0	–	-1,690,400	–	-0.93%	–
URBN	Exit	URBAN OUTFITTERS INC	$0	–	-500,400	–	-0.97%	–
LKQ	Exit	LKQ CORP	$0	–	-335,834	–	-0.98%	–
GES	Exit	GUESS INC	$0	–	-724,200	–	-1.00%	–
BAH	Exit	BOOZ ALLEN HAMILTON HLDG CORcl a	$0	–	-332,258	–	-1.01%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-172,986	–	-1.05%	–
ANTM	Exit	ANTHEM INC	$0	–	-69,399	–	-1.07%	–
PFE	Exit	PFIZER INC	$0	–	-373,978	–	-1.09%	–
CVX	Exit	CHEVRON CORP	$0	–	-113,759	–	-1.09%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-189,742	–	-1.12%	–
SOHU	Exit	SOHU COM INC	$0	–	-255,452	–	-1.13%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWAR	$0	–	-140,902	–	-1.17%	–
HOLI	Exit	HOLLYSYS AUTOMATION TECHNOLO	$0	–	-671,293	–	-1.18%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-15,382	–	-1.22%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-230,150	–	-1.29%	–
AEP	Exit	AMERICAN ELEC PWR INC	$0	–	-245,902	–	-1.41%	–
AEO	Exit	AMERICAN EAGLE OUTFITTERS NE	$0	–	-1,272,900	–	-1.48%	–
PEP	Exit	PEPSICO INC	$0	–	-183,474	–	-1.66%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-217,945	–	-1.70%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-129,208	–	-1.80%	–
VEON	Exit	VEON LTDsponsored adr	$0	–	-5,787,068	–	-1.97%	–
BVN	Exit	COMPANIA DE MINAS BUENAVENTUsponsored adr	$0	–	-2,024,790	–	-2.11%	–
MOS	Exit	MOSAIC CO	$0	–	-1,270,243	–	-2.23%	–
OII	Exit	OCEANEERING INTL INC	$0	–	-1,060,749	–	-2.27%	–
FRC	Exit	FIRST REP BK SAN FRANCISCO C	$0	–	-305,556	–	-2.60%	–
DOFSQ	Exit	DIAMOND OFFSHORE DRILLING	$0	–	-2,570,583	–	-3.04%	–
ESV	Exit	ENSCO PLC SHSclass a	$0	–	-6,382,433	–	-3.10%	–
GG	Exit	GOLDCORP INC	$0	–	-8,514,498	–	-8.99%	–
GFI	Exit	GOLD FIELDS LTDnew sponsored adr	$0	–	-26,795,190	–	-9.40%	–
GOLD	Exit	BARRICK GOLD CORP	$0	–	-18,899,660	–	-24.76%	–

Q3 2017

			Value		Shares		↓ Weighting
GOLD	Buy	BARRICK GOLD CORP	$304,096,000	+1.4%	18,899,660	+0.2%	24.76%	-12.9%
GFI	Buy	GOLD FIELDS LTDnew sponsored adr	$115,487,000	+43.1%	26,795,190	+15.6%	9.40%	+23.1%
GG	Buy	GOLDCORP INC	$110,348,000	+4.3%	8,514,498	+3.9%	8.99%	-10.3%
ESV	Buy	ENSCO PLC SHSclass a	$38,103,000	+251.7%	6,382,433	+204.0%	3.10%	+202.4%
DOFSQ	Buy	DIAMOND OFFSHORE DRILLING	$37,273,000	+197.1%	2,570,583	+121.9%	3.04%	+155.5%
FRC	Sell	FIRST REP BK SAN FRANCISCO C	$31,918,000	+4.1%	305,556	-0.2%	2.60%	-10.5%
OII	Buy	OCEANEERING INTL INC	$27,866,000	+86.4%	1,060,749	+62.1%	2.27%	+60.2%
MOS	Buy	MOSAIC CO	$27,425,000	+1.5%	1,270,243	+7.3%	2.23%	-12.7%
BVN	Buy	COMPANIA DE MINAS BUENAVENTUsponsored adr	$25,897,000	+65.7%	2,024,790	+48.9%	2.11%	+42.4%
VEON	Buy	VEON LTDsponsored adr	$24,190,000	+7.4%	5,787,068	+0.5%	1.97%	-7.6%
FB	Sell	FACEBOOK INCcl a	$22,078,000	+7.4%	129,208	-5.1%	1.80%	-7.7%
JPM	Sell	JPMORGAN CHASE & CO	$20,816,000	-0.4%	217,945	-4.7%	1.70%	-14.4%
PEP	Buy	PEPSICO INC	$20,445,000	-0.7%	183,474	+2.9%	1.66%	-14.6%
AEO	New	AMERICAN EAGLE OUTFITTERS NE	$18,202,000	–	1,272,900	–	1.48%	–
AEP	Buy	AMERICAN ELEC PWR INC	$17,272,000	+44.8%	245,902	+43.2%	1.41%	+24.5%
ICE	Sell	INTERCONTINENTAL EXCHANGE IN	$15,811,000	-7.7%	230,150	-11.4%	1.29%	-20.6%
GOOGL	Sell	ALPHABET INCcap stk cl a	$14,978,000	-14.6%	15,382	-18.5%	1.22%	-26.6%
HOLI	Sell	HOLLYSYS AUTOMATION TECHNOLO	$14,507,000	-6.0%	671,293	-27.8%	1.18%	-19.2%
TTWO	Sell	TAKE-TWO INTERACTIVE SOFTWAR	$14,404,000	+9.8%	140,902	-21.2%	1.17%	-5.6%
SOHU	Buy	SOHU COM INC	$13,909,000	+56.4%	255,452	+29.4%	1.13%	+34.4%
CTSH	Buy	COGNIZANT TECHNOLOGY SOLUTIOcl a	$13,764,000	+10.7%	189,742	+1.3%	1.12%	-4.8%
CVX	Sell	CHEVRON CORP	$13,367,000	+5.4%	113,759	-6.4%	1.09%	-9.3%
PFE	Buy	PFIZER INC	$13,351,000	+17.9%	373,978	+11.0%	1.09%	+1.4%
ANTM	Sell	ANTHEM INC	$13,177,000	-18.3%	69,399	-19.0%	1.07%	-29.7%
MSFT	Sell	MICROSOFT CORP	$12,886,000	-4.4%	172,986	-11.5%	1.05%	-17.9%
BAH	Buy	BOOZ ALLEN HAMILTON HLDG CORcl a	$12,423,000	+20.6%	332,258	+5.0%	1.01%	+3.7%
GES	New	GUESS INC	$12,333,000	–	724,200	–	1.00%	–
LKQ	Sell	LKQ CORP	$12,087,000	-0.4%	335,834	-8.8%	0.98%	-14.4%
URBN	New	URBAN OUTFITTERS INC	$11,960,000	–	500,400	–	0.97%	–
EXPR	New	EXPRESS INC	$11,427,000	–	1,690,400	–	0.93%	–
ORCL	Sell	ORACLE CORP	$10,290,000	-14.7%	212,817	-11.6%	0.84%	-26.7%
LH	Sell	LABORATORY CORP AMER HLDGS	$9,506,000	-12.9%	62,967	-11.1%	0.77%	-25.1%
CACI	Buy	CACI INTL INCcl a	$8,851,000	+23.3%	63,514	+10.7%	0.72%	+6.0%
DG	Sell	DOLLAR GEN CORP	$8,616,000	+4.1%	106,307	-7.4%	0.70%	-10.5%
TSM	Sell	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$8,258,000	+6.7%	219,909	-0.7%	0.67%	-8.3%
PE	Buy	PARSLEY ENERGY INCcl a	$7,935,000	+5.9%	301,234	+11.6%	0.65%	-9.0%
NDAQ	Buy	NASDAQ INC	$7,665,000	+12.1%	98,819	+3.3%	0.62%	-3.7%
SWKS	Sell	SKYWORKS SOLUTIONS INC	$7,568,000	-0.9%	74,273	-6.7%	0.62%	-14.9%
CMCSA	Sell	COMCAST CORPnew cl a	$7,257,000	-13.4%	188,589	-12.4%	0.59%	-25.5%
ABC	Sell	AMERISOURCEBERGEN CORP	$7,081,000	-22.3%	85,567	-11.3%	0.58%	-33.2%
AAPL	Sell	APPLE INC	$6,511,000	-14.9%	42,245	-20.5%	0.53%	-26.8%
GILD	Sell	GILEAD SCIENCES INC	$6,025,000	-16.6%	74,359	-27.1%	0.49%	-28.2%
SERV	Sell	SERVICEMASTER GLOBAL HLDGS I	$5,713,000	+4.1%	122,252	-12.7%	0.46%	-10.6%
EDU	Sell	NEW ORIENTAL ED & TECH GRP Ispon adr	$5,533,000	-1.1%	62,695	-21.0%	0.45%	-14.9%
MMC	New	MARSH & MCLENNAN COS	$5,202,000	–	62,068	–	0.42%	–
AIG	Sell	AMERICAN INTL GROUP INC	$5,141,000	-6.5%	83,738	-4.8%	0.42%	-19.6%
CELG	New	CELGENE CORP	$4,911,000	–	33,681	–	0.40%	–
WLTW	New	WILLIS TOWERS WATSON PUB	$4,718,000	–	30,589	–	0.38%	–
USFD	Sell	US FOODS HLDG CORP	$4,690,000	-23.3%	175,641	-21.8%	0.38%	-34.0%
USB	Sell	US BANCORP DEL	$4,431,000	-1.7%	82,687	-4.8%	0.36%	-15.5%
DOX	Sell	AMDOCS LTD	$4,104,000	-15.2%	63,811	-15.0%	0.33%	-27.1%
LOPE	Buy	GRAND CANYON ED INC	$3,864,000	+19.6%	42,547	+3.2%	0.32%	+2.9%
ZION	Buy	ZIONS BANCORPORATION	$3,307,000	+31.8%	70,103	+22.6%	0.27%	+13.0%
TWNK	Sell	HOSTESS BRANDS INCcl a	$3,282,000	-24.1%	240,285	-10.6%	0.27%	-34.9%
KR	Sell	KROGER CO	$3,113,000	-24.1%	155,196	-11.8%	0.25%	-34.7%
NBL	Sell	NOBLE ENERGY INC	$2,839,000	-13.6%	100,108	-13.8%	0.23%	-25.7%
WWE	Sell	WORLD WRESTLING ENTMT INCcl a	$2,680,000	-80.1%	113,805	-82.8%	0.22%	-82.9%
AU	Sell	ANGLOGOLD ASHANTI LTDsponsored adr	$2,460,000	-18.5%	264,780	-14.8%	0.20%	-30.1%
MELI	Buy	MERCADOLIBRE INC	$2,393,000	+37.4%	9,241	+33.1%	0.20%	+18.2%
CRTO	Sell	CRITEO S Aspons ads	$2,360,000	-60.4%	56,874	-53.2%	0.19%	-66.0%
AOBC	Buy	AMERICAN OUTDOOR BRANDS CORP	$2,205,000	-11.4%	144,573	+28.8%	0.18%	-23.7%
SQM	Sell	SOCIEDAD QUIMICA MINERA DE Cspon adr ser b	$831,000	+58.9%	14,935	-5.7%	0.07%	+36.0%
CPA	Sell	COPA HOLDINGS SAcl a	$740,000	-1.1%	5,941	-7.0%	0.06%	-15.5%
CTRP	Buy	CTRIP COM INTL LTD	$401,000	+26.1%	7,600	+28.8%	0.03%	+10.0%
MMYT	New	MAKEMYTRIP LIMITED MAURITIUS	$259,000	–	9,000	–	0.02%	–
OIS	Exit	OIL STS INTL INC	$0	–	-57,099	–	-0.15%	–
FCX	Exit	FREEPORT-MCMORAN INCcl b	$0	–	-180,400	–	-0.20%	–
BOFI	Exit	BOFI HLDG INC	$0	–	-110,656	–	-0.25%	–
NLSN	Exit	NIELSEN HLDGS PLC	$0	–	-69,126	–	-0.25%	–

Q2 2017

			Value		Shares		↓ Weighting
GOLD	New	BARRICK GOLD CORP	$300,001,000	–	18,856,140	–	28.42%	–
GG	New	GOLDCORP INC	$105,806,000	–	8,195,649	–	10.02%	–
GFI	New	GOLD FIELDS LTDnew sponsored adr	$80,677,000	–	23,183,035	–	7.64%	–
FRC	New	FIRST REP BK SAN FRANCISCO	$30,654,000	–	306,234	–	2.90%	–
MOS	New	MOSAIC CO	$27,017,000	–	1,183,412	–	2.56%	–
VEON	New	VEON LTDsponsored adr	$22,514,000	–	5,758,166	–	2.13%	–
JPM	New	JPMORGAN CHASE & CO	$20,892,000	–	228,576	–	1.98%	–
PEP	New	PEPSICO INC	$20,587,000	–	178,254	–	1.95%	–
FB	New	FACEBOOK INCcl a	$20,548,000	–	136,099	–	1.95%	–
GOOGL	New	ALPHABET INCcap stk cl a	$17,539,000	–	18,866	–	1.66%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$17,125,000	–	259,782	–	1.62%	–
ANTM	New	ANTHEM INC	$16,120,000	–	85,684	–	1.53%	–
BVN	New	COMPANIA DE MINAS BUENAVENTUsponsored adr	$15,633,000	–	1,359,400	–	1.48%	–
HOLI	New	HOLLYSYS AUTOMATION TECHNOLO	$15,437,000	–	929,370	–	1.46%	–
OII	New	OCEANEERING INTL INC	$14,947,000	–	654,401	–	1.42%	–
MSFT	New	MICROSOFT CORP	$13,477,000	–	195,512	–	1.28%	–
WWE	New	WORLD WRESTLING ENTMT INCcl a	$13,454,000	–	660,468	–	1.28%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWAR	$13,122,000	–	178,829	–	1.24%	–
CVX	New	CHEVRON CORP	$12,679,000	–	121,526	–	1.20%	–
DOFSQ	New	DIAMOND OFFSHORE DRILLING	$12,544,000	–	1,158,256	–	1.19%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$12,431,000	–	187,218	–	1.18%	–
LKQ	New	LKQ CORP	$12,133,000	–	368,216	–	1.15%	–
ORCL	New	ORACLE CORP	$12,066,000	–	240,651	–	1.14%	–
AEP	New	AMERICAN ELEC PWR INC	$11,929,000	–	171,710	–	1.13%	–
PFE	New	PFIZER INC	$11,320,000	–	336,991	–	1.07%	–
LH	New	LABORATORY CORP AMER HLDGS	$10,913,000	–	70,800	–	1.03%	–
ESV	New	ENSCO PLC	$10,835,000	–	2,099,775	–	1.03%	–
BAH	New	BOOZ ALLEN HAMILTON HLDG CORcl a	$10,298,000	–	316,457	–	0.98%	–
ABC	New	AMERISOURCEBERGEN CORP	$9,116,000	–	96,436	–	0.86%	–
SOHU	New	SOHU COM INC	$8,894,000	–	197,381	–	0.84%	–
CMCSA	New	COMCAST CORPnew cl a	$8,376,000	–	215,221	–	0.79%	–
DG	New	DOLLAR GEN CORP	$8,274,000	–	114,775	–	0.78%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$7,740,000	–	221,409	–	0.73%	–
SWKS	New	SKYWORKS SOLUTIONS INC	$7,639,000	–	79,613	–	0.72%	–
AAPL	New	APPLE INC	$7,648,000	–	53,105	–	0.72%	–
PE	New	PARSLEY ENERGY INCcl a	$7,490,000	–	269,892	–	0.71%	–
GILD	New	GILEAD SCIENCES INC	$7,224,000	–	102,060	–	0.68%	–
CACI	New	CACI INTL INCcl a	$7,177,000	–	57,394	–	0.68%	–
NDAQ	New	NASDAQ INC	$6,836,000	–	95,618	–	0.65%	–
USFD	New	US FOODS HLDG CORP	$6,114,000	–	224,612	–	0.58%	–
CRTO	New	CRITEO S Aspons ads	$5,967,000	–	121,652	–	0.56%	–
EDU	New	NEW ORIENTAL ED & TECH GRP Ispon adr	$5,593,000	–	79,345	–	0.53%	–
AIG	New	AMERICAN INTL GROUP INC	$5,499,000	–	87,951	–	0.52%	–
SERV	New	SERVICEMASTER GLOBAL HLDGS I	$5,489,000	–	140,062	–	0.52%	–
DOX	New	AMDOCS LTD	$4,837,000	–	75,033	–	0.46%	–
USB	New	US BANCORP	$4,507,000	–	86,811	–	0.43%	–
TWNK	New	HOSTESS BRANDS INCcl a	$4,326,000	–	268,703	–	0.41%	–
KR	New	KROGER CO	$4,102,000	–	175,898	–	0.39%	–
BIDU	New	BAIDU INCspon adr rep a	$3,942,000	–	22,039	–	0.37%	–
BAP	New	CREDICORP LTD	$3,881,000	–	21,636	–	0.37%	–
IONS	New	IONIS PHARMACEUTICALS INC	$3,774,000	–	74,196	–	0.36%	–
NBL	New	NOBLE ENERGY INC	$3,285,000	–	116,095	–	0.31%	–
LOPE	New	GRAND CANYON ED INC	$3,232,000	–	41,223	–	0.31%	–
AU	New	ANGLOGOLD ASHANTI LTDsponsored adr	$3,020,000	–	310,688	–	0.29%	–
NLSN	New	NIELSEN HLDGS PLC	$2,672,000	–	69,126	–	0.25%	–
BOFI	New	BOFI HLDG INC	$2,625,000	–	110,656	–	0.25%	–
ZION	New	ZIONS BANCORPORATION	$2,510,000	–	57,171	–	0.24%	–
AOBC	New	AMERICAN OUTDOOR BRANDS CORP	$2,488,000	–	112,289	–	0.24%	–
FCX	New	FREEPORT-MCMORAN INCcl b	$2,167,000	–	180,400	–	0.20%	–
MELI	New	MERCADOLIBRE INC	$1,741,000	–	6,941	–	0.16%	–
OIS	New	OIL STS INTL INC	$1,550,000	–	57,099	–	0.15%	–
CPA	New	COPA HOLDINGS SAcl a	$748,000	–	6,391	–	0.07%	–
AMZN	New	AMAZON COM INC	$561,000	–	580	–	0.05%	–
SQM	New	SOCIEDAD QUIMICA MINERA DE Cspon adr ser b	$523,000	–	15,835	–	0.05%	–
CAVM	New	CAVIUM INC	$405,000	–	6,518	–	0.04%	–
ILMN	New	ILLUMINA INC	$324,000	–	1,866	–	0.03%	–
BMA	New	BANCO MACRO SAspon adr b	$314,000	–	3,408	–	0.03%	–
CTRP	New	CTRIP COM INTL LTD	$318,000	–	5,900	–	0.03%	–

Q4 2016

			Value		Shares		↓ Weighting
CI	Exit	CIGNA CORPORATION	$0	–	-1,658	–	-0.04%	–
BMA	Exit	BANCO MACRO SAspon adr b	$0	–	-2,900	–	-0.04%	–
FNGN	Exit	FINANCIAL ENGINES INC	$0	–	-8,079	–	-0.04%	–
LTRPA	Exit	LIBERTY TRIPADVISOR HLDGS IN	$0	–	-11,704	–	-0.04%	–
ILMN	Exit	ILLUMINA INC	$0	–	-1,723	–	-0.05%	–
CAVM	Exit	CAVIUM INC	$0	–	-5,518	–	-0.05%	–
RCL	Exit	ROYAL CARIBBEAN CRUISES LTD	$0	–	-4,565	–	-0.06%	–
SQM	Exit	SOCIEDAD QUIMICA MINERA DE Cspon adr ser b	$0	–	-14,853	–	-0.06%	–
CPA	Exit	COPA HOLDINGS SAcl a	$0	–	-5,391	–	-0.08%	–
MELI	Exit	MERCADOLIBRE INC	$0	–	-3,201	–	-0.10%	–
CFG	Exit	CITIZENS FINL GROUP INC	$0	–	-27,689	–	-0.11%	–
LMT	Exit	LOCKHEED MARTIN CORP	$0	–	-3,517	–	-0.14%	–
IONS	Exit	IONIS PHARMACEUTICALS INC	$0	–	-26,450	–	-0.16%	–
BAP	Exit	CREDICORP LTD	$0	–	-7,656	–	-0.19%	–
EDU	Exit	NEW ORIENTAL ED & TECH GRP Ispon adr	$0	–	-25,606	–	-0.19%	–
BIDU	Exit	BAIDU INCspon adr rep a	$0	–	-6,727	–	-0.20%	–
IAC	Exit	IAC INTERACTIVECORP	$0	–	-21,260	–	-0.21%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$0	–	-51,760	–	-0.25%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-31,045	–	-0.27%	–
RHP	Exit	RYMAN HOSPITALITY PPTYS INC	$0	–	-37,028	–	-0.29%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-105,120	–	-0.30%	–
CRTO	Exit	CRITEO S Aspons ads	$0	–	-64,731	–	-0.36%	–
BLMN	Exit	BLOOMIN BRANDS INC	$0	–	-132,144	–	-0.36%	–
FSLR	Exit	FIRST SOLAR INC	$0	–	-62,574	–	-0.40%	–
BOFI	Exit	BOFI HLDG INC	$0	–	-110,791	–	-0.40%	–
HAL	Exit	HALLIBURTON CO	$0	–	-61,328	–	-0.44%	–
RES	Exit	RPC INC	$0	–	-173,114	–	-0.47%	–
MCK	Exit	MCKESSON CORP	$0	–	-20,157	–	-0.54%	–
NBL	Exit	NOBLE ENERGY INC	$0	–	-94,249	–	-0.54%	–
SERV	Exit	SERVICEMASTER GLOBAL HLDGS I	$0	–	-111,050	–	-0.60%	–
LOPE	Exit	GRAND CANYON ED INC	$0	–	-98,533	–	-0.64%	–
SU	Exit	SUNCOR ENERGY INC	$0	–	-153,190	–	-0.68%	–
SWKS	Exit	SKYWORKS SOLUTIONS INC	$0	–	-58,665	–	-0.72%	–
HCA	Exit	HCA HOLDINGS INC	$0	–	-59,835	–	-0.73%	–
CTSH	Exit	COGNIZANT TECHNOLOGY SOLUTIOcl a	$0	–	-95,005	–	-0.73%	–
AU	Exit	ANGLOGOLD ASHANTI LTDsponsored adr	$0	–	-292,743	–	-0.75%	–
ANTM	Exit	ANTHEM INC	$0	–	-37,364	–	-0.75%	–
DG	Exit	DOLLAR GEN CORP NEW	$0	–	-67,456	–	-0.76%	–
TWX	Exit	TIME WARNER INC	$0	–	-62,515	–	-0.80%	–
NLSN	Exit	NIELSEN HLDGS PLC	$0	–	-94,695	–	-0.81%	–
AIG	Exit	AMERICAN INTL GROUP INC	$0	–	-85,648	–	-0.82%	–
NDAQ	Exit	NASDAQ INC	$0	–	-75,569	–	-0.82%	–
AMTD	Exit	TD AMERITRADE HLDG CORP	$0	–	-177,440	–	-1.00%	–
ORCL	Exit	ORACLE CORP	$0	–	-159,946	–	-1.01%	–
AAPL	Exit	APPLE INC	$0	–	-56,417	–	-1.02%	–
TDS	Exit	TELEPHONE & DATA SYS INC	$0	–	-262,739	–	-1.14%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-93,073	–	-1.18%	–
AZO	Exit	AUTOZONE INC	$0	–	-9,949	–	-1.23%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-86,040	–	-1.23%	–
CVX	Exit	CHEVRON CORP	$0	–	-78,413	–	-1.29%	–
FTR	Exit	FRONTIER COMMUNICATIONS CORP	$0	–	-2,000,000	–	-1.33%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-65,606	–	-1.35%	–
LKQ	Exit	LKQ CORP	$0	–	-251,731	–	-1.43%	–
LH	Exit	LABORATORY CORP AMER HLDGS	$0	–	-67,260	–	-1.48%	–
CMCSA	Exit	COMCAST CORPnew cl a	$0	–	-140,550	–	-1.50%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWAR	$0	–	-235,983	–	-1.71%	–
DOFSQ	Exit	DIAMOND OFFSHORE DRILLING IN	$0	–	-608,708	–	-1.72%	–
T	Exit	AT&T INC	$0	–	-272,796	–	-1.78%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-196,600	–	-1.82%	–
OII	Exit	OCEANEERING INTL INC	$0	–	-412,265	–	-1.82%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-178,908	–	-1.91%	–
SWN	Exit	SOUTHWESTERN ENERGY CO	$0	–	-871,328	–	-1.93%	–
GOOGL	Exit	ALPHABET INCcap stk cl a	$0	–	-15,953	–	-2.06%	–
MOS	Exit	MOSAIC CO NEW	$0	–	-541,401	–	-2.12%	–
VIP	Exit	VIMPELCOM LTDsponsored adr	$0	–	-3,816,300	–	-2.13%	–
FCX	Exit	FREEPORT-MCMORAN INCcl b	$0	–	-1,633,830	–	-2.84%	–
BRKS	Exit	BROOKS AUTOMATION INC	$0	–	-1,478,848	–	-3.23%	–
FRC	Exit	FIRST REP BK SAN FRANCISCO C	$0	–	-304,460	–	-3.76%	–
HOLI	Exit	HOLLYSYS AUTOMATION TECHNOLO	$0	–	-1,065,465	–	-3.79%	–
WWE	Exit	WORLD WRESTLING ENTMT INCcl a	$0	–	-1,327,523	–	-4.53%	–
GOLD	Exit	BARRICK GOLD CORP	$0	–	-10,811,567	–	-30.72%	–

Q3 2016

			Value		Shares		↓ Weighting
GOLD	Buy	BARRICK GOLD CORP	$191,581,000	+120.2%	10,811,567	+165.3%	30.72%	+113.9%
WWE	Sell	WORLD WRESTLING ENTMT INCcl a	$28,276,000	+2.3%	1,327,523	-11.6%	4.53%	-0.6%
HOLI	Sell	HOLLYSYS AUTOMATION TECHNOLO	$23,621,000	+8.0%	1,065,465	-15.4%	3.79%	+4.9%
FRC	Buy	FIRST REP BK SAN FRANCISCO C	$23,477,000	+12.0%	304,460	+1.6%	3.76%	+8.8%
BRKS	Sell	BROOKS AUTOMATION INC	$20,127,000	+11.8%	1,478,848	-7.8%	3.23%	+8.7%
FCX	Sell	FREEPORT-MCMORAN INCcl b	$17,743,000	-52.1%	1,633,830	-50.8%	2.84%	-53.4%
VIP	New	VIMPELCOM LTDsponsored adr	$13,281,000	–	3,816,300	–	2.13%	–
MOS	New	MOSAIC CO NEW	$13,243,000	–	541,401	–	2.12%	–
GOOGL	Sell	ALPHABET INCcap stk cl a	$12,827,000	+12.0%	15,953	-2.0%	2.06%	+8.8%
SWN	Sell	SOUTHWESTERN ENERGY CO	$12,059,000	-24.5%	871,328	-31.3%	1.93%	-26.6%
JPM	Sell	JPMORGAN CHASE & CO	$11,913,000	+6.5%	178,908	-0.6%	1.91%	+3.5%
OII	Buy	OCEANEERING INTL INC	$11,341,000	-0.1%	412,265	+8.4%	1.82%	-3.0%
MSFT	Sell	MICROSOFT CORP	$11,324,000	+6.2%	196,600	-5.7%	1.82%	+3.2%
T	Sell	AT&T INC	$11,078,000	-11.8%	272,796	-6.2%	1.78%	-14.4%
DOFSQ	Buy	DIAMOND OFFSHORE DRILLING IN	$10,719,000	-8.3%	608,708	+26.7%	1.72%	-10.9%
TTWO	Buy	TAKE-TWO INTERACTIVE SOFTWAR	$10,638,000	+24.7%	235,983	+4.9%	1.71%	+21.1%
CMCSA	Sell	COMCAST CORPnew cl a	$9,324,000	+0.2%	140,550	-1.5%	1.50%	-2.6%
LH	Buy	LABORATORY CORP AMER HLDGS	$9,247,000	+7.2%	67,260	+1.6%	1.48%	+4.2%
LKQ	Buy	LKQ CORP	$8,926,000	+25.3%	251,731	+12.0%	1.43%	+21.7%
FB	Buy	FACEBOOK INCcl a	$8,415,000	+2971.2%	65,606	+2633.6%	1.35%	+2897.8%
FTR	Sell	FRONTIER COMMUNICATIONS CORP	$8,320,000	-62.4%	2,000,000	-55.3%	1.33%	-63.4%
CVX	Buy	CHEVRON CORP	$8,070,000	+19.1%	78,413	+21.3%	1.29%	+15.7%
CVS	Buy	CVS HEALTH CORP	$7,657,000	+0.6%	86,040	+8.2%	1.23%	-2.3%
AZO	Buy	AUTOZONE INC	$7,644,000	+1.9%	9,949	+5.3%	1.23%	-1.0%
GILD	Buy	GILEAD SCIENCES INC	$7,364,000	-5.0%	93,073	+0.1%	1.18%	-7.7%
TDS	Buy	TELEPHONE & DATA SYS INC	$7,141,000	+12.0%	262,739	+22.2%	1.14%	+8.7%
AAPL	Buy	APPLE INC	$6,378,000	+70.5%	56,417	+44.2%	1.02%	+65.8%
ORCL	Buy	ORACLE CORP	$6,283,000	-1.7%	159,946	+2.5%	1.01%	-4.5%
AMTD	Buy	TD AMERITRADE HLDG CORP	$6,253,000	+63.6%	177,440	+32.2%	1.00%	+59.0%
NDAQ	Sell	NASDAQ INC	$5,104,000	-16.6%	75,569	-20.2%	0.82%	-19.0%
AIG	Buy	AMERICAN INTL GROUP INC	$5,082,000	+14.0%	85,648	+1.6%	0.82%	+10.7%
NLSN	Sell	NIELSEN HLDGS PLC	$5,073,000	-7.2%	94,695	-10.0%	0.81%	-9.9%
TWX	Sell	TIME WARNER INC	$4,977,000	-1.8%	62,515	-9.3%	0.80%	-4.5%
DG	Sell	DOLLAR GEN CORP NEW	$4,721,000	-52.6%	67,456	-36.3%	0.76%	-53.9%
ANTM	New	ANTHEM INC	$4,682,000	–	37,364	–	0.75%	–
AU	New	ANGLOGOLD ASHANTI LTDsponsored adr	$4,660,000	–	292,743	–	0.75%	–
CTSH	Buy	COGNIZANT TECHNOLOGY SOLUTIOcl a	$4,533,000	+12.8%	95,005	+35.3%	0.73%	+9.7%
HCA	Sell	HCA HOLDINGS INC	$4,525,000	-20.3%	59,835	-18.9%	0.73%	-22.5%
SWKS	Buy	SKYWORKS SOLUTIONS INC	$4,467,000	+30.3%	58,665	+8.2%	0.72%	+26.5%
SU	Sell	SUNCOR ENERGY INC	$4,256,000	-11.4%	153,190	-11.6%	0.68%	-14.0%
LOPE	Buy	GRAND CANYON ED INC	$3,980,000	+17.0%	98,533	+15.6%	0.64%	+13.7%
SERV	Sell	SERVICEMASTER GLOBAL HLDGS I	$3,740,000	-18.5%	111,050	-3.7%	0.60%	-20.8%
NBL	Sell	NOBLE ENERGY INC	$3,368,000	-28.4%	94,249	-28.1%	0.54%	-30.4%
MCK	Sell	MCKESSON CORP	$3,361,000	-34.3%	20,157	-26.5%	0.54%	-36.1%
RES	New	RPC INC	$2,908,000	–	173,114	–	0.47%	–
HAL	Buy	HALLIBURTON CO	$2,752,000	+12.3%	61,328	+13.3%	0.44%	+8.9%
BOFI	Buy	BOFI HLDG INC	$2,482,000	+40.5%	110,791	+11.0%	0.40%	+36.3%
FSLR	Sell	FIRST SOLAR INC	$2,471,000	-32.9%	62,574	-17.7%	0.40%	-34.9%
BLMN	New	BLOOMIN BRANDS INC	$2,278,000	–	132,144	–	0.36%	–
CRTO	Buy	CRITEO S Aspons ads	$2,273,000	+39.5%	64,731	+82.5%	0.36%	+35.3%
MU	Sell	MICRON TECHNOLOGY INC	$1,869,000	-94.5%	105,120	-95.7%	0.30%	-94.6%
RHP	Sell	RYMAN HOSPITALITY PPTYS INC	$1,783,000	-48.6%	37,028	-45.9%	0.29%	-50.1%
ICE	Sell	INTERCONTINENTAL EXCHANGE IN	$1,672,000	-82.4%	31,045	-16.4%	0.27%	-82.9%
TSM	Sell	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$1,583,000	+11.4%	51,760	-4.4%	0.25%	+8.1%
IAC	Buy	IAC INTERACTIVECORP	$1,328,000	+18.5%	21,260	+6.8%	0.21%	+15.1%
BIDU	Buy	BAIDU INCspon adr rep a	$1,225,000	+22.1%	6,727	+10.8%	0.20%	+18.1%
EDU	Sell	NEW ORIENTAL ED & TECH GRP Ispon adr	$1,187,000	+7.1%	25,606	-3.2%	0.19%	+3.8%
BAP	Sell	CREDICORP LTD	$1,165,000	-27.5%	7,656	-26.5%	0.19%	-29.4%
IONS	Buy	IONIS PHARMACEUTICALS INC	$969,000	+82.8%	26,450	+16.3%	0.16%	+78.2%
LMT	Sell	LOCKHEED MARTIN CORP	$843,000	-6.7%	3,517	-3.4%	0.14%	-9.4%
CFG	Sell	CITIZENS FINL GROUP INC	$684,000	-97.9%	27,689	-98.3%	0.11%	-97.9%
MELI	Sell	MERCADOLIBRE INC	$592,000	-2.6%	3,201	-26.0%	0.10%	-5.0%
CPA	Buy	COPA HOLDINGS SAcl a	$474,000	+80.2%	5,391	+6.9%	0.08%	+76.7%
SQM	Sell	SOCIEDAD QUIMICA MINERA DE Cspon adr ser b	$400,000	-20.0%	14,853	-26.5%	0.06%	-22.9%
RCL	Sell	ROYAL CARIBBEAN CRUISES LTD	$342,000	-88.2%	4,565	-89.4%	0.06%	-88.5%
CAVM	Buy	CAVIUM INC	$321,000	+101.9%	5,518	+34.0%	0.05%	+96.2%
BMA	New	BANCO MACRO SAspon adr b	$227,000	–	2,900	–	0.04%	–
CI	New	CIGNA CORPORATION	$216,000	–	1,658	–	0.04%	–
ZNGA	Exit	ZYNGA INCcl a	$0	–	-587,650	–	-0.24%	–
ESRX	Exit	EXPRESS SCRIPTS HLDG CO	$0	–	-28,541	–	-0.36%	–
ON	Exit	ON SEMICONDUCTOR CORP	$0	–	-295,432	–	-0.43%	–
BKU	Exit	BANKUNITED INC	$0	–	-113,783	–	-0.58%	–
MAN	Exit	MANPOWERGROUP INC	$0	–	-80,019	–	-0.85%	–
NYCB	Exit	NEW YORK CMNTY BANCORP INC	$0	–	-1,297,317	–	-3.21%	–

Q2 2016

			Value		Shares		↓ Weighting
GOLD	New	BARRICK GOLD CORP	$86,997,000	–	4,074,803	–	14.36%	–
FCX	New	FREEPORT-MCMORAN INCcl b	$37,006,000	–	3,321,874	–	6.11%	–
MU	New	MICRON TECHNOLOGY INC	$33,797,000	–	2,456,141	–	5.58%	–
CFG	New	CITIZENS FINL GROUP INC	$32,357,000	–	1,619,470	–	5.34%	–
WWE	New	WORLD WRESTLING ENTMT INCcl a	$27,632,000	–	1,500,925	–	4.56%	–
FTR	New	FRONTIER COMMUNICATIONS CORP	$22,101,000	–	4,473,950	–	3.65%	–
HOLI	New	HOLLYSYS AUTOMATION TECHNOLO	$21,876,000	–	1,259,386	–	3.61%	–
FRC	New	FIRST REP BK SAN FRANCISCO C	$20,967,000	–	299,577	–	3.46%	–
NYCB	New	NEW YORK CMNTY BANCORP INC	$19,447,000	–	1,297,317	–	3.21%	–
BRKS	New	BROOKS AUTOMATION INC	$17,997,000	–	1,603,967	–	2.97%	–
SWN	New	SOUTHWESTERN ENERGY CO	$15,962,000	–	1,268,802	–	2.64%	–
T	New	AT&T INC	$12,564,000	–	290,774	–	2.07%	–
DOFSQ	New	DIAMOND OFFSHORE DRILLING IN	$11,685,000	–	480,269	–	1.93%	–
GOOGL	New	ALPHABET INCcap stk cl a	$11,452,000	–	16,278	–	1.89%	–
OII	New	OCEANEERING INTL INC	$11,354,000	–	380,250	–	1.87%	–
JPM	New	JPMORGAN CHASE & CO	$11,181,000	–	179,933	–	1.84%	–
MSFT	New	MICROSOFT CORP	$10,664,000	–	208,402	–	1.76%	–
DG	New	DOLLAR GEN CORP NEW	$9,953,000	–	105,880	–	1.64%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$9,506,000	–	37,137	–	1.57%	–
CMCSA	New	COMCAST CORP NEWcl a	$9,303,000	–	142,713	–	1.54%	–
LH	New	LABORATORY CORP AMER HLDGS	$8,622,000	–	66,185	–	1.42%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWAR	$8,534,000	–	225,060	–	1.41%	–
GILD	New	GILEAD SCIENCES INC	$7,753,000	–	92,944	–	1.28%	–
CVS	New	CVS HEALTH CORP	$7,614,000	–	79,529	–	1.26%	–
AZO	New	AUTOZONE INC	$7,502,000	–	9,450	–	1.24%	–
LKQ	New	LKQ CORP	$7,124,000	–	224,718	–	1.18%	–
CVX	New	CHEVRON CORP	$6,774,000	–	64,619	–	1.12%	–
ORCL	New	ORACLE CORP	$6,389,000	–	156,087	–	1.05%	–
TDS	New	TELEPHONE & DATA SYS INC	$6,378,000	–	215,047	–	1.05%	–
NDAQ	New	NASDAQ INC	$6,120,000	–	94,642	–	1.01%	–
HCA	New	HCA HOLDINGS INC	$5,680,000	–	73,754	–	0.94%	–
NLSN	New	NIELSEN HLDGS PLC	$5,468,000	–	105,224	–	0.90%	–
MAN	New	MANPOWERGROUP INC	$5,148,000	–	80,019	–	0.85%	–
MCK	New	MCKESSON CORP	$5,116,000	–	27,410	–	0.84%	–
TWX	New	TIME WARNER INC	$5,068,000	–	68,918	–	0.84%	–
SU	New	SUNCOR ENERGY INC	$4,803,000	–	173,206	–	0.79%	–
NBL	New	NOBLE ENERGY INC	$4,704,000	–	131,134	–	0.78%	–
SERV	New	SERVICEMASTER GLOBAL HLDGS I	$4,591,000	–	115,351	–	0.76%	–
AIG	New	AMERICAN INTL GROUP INC COMnew	$4,457,000	–	84,278	–	0.74%	–
CTSH	New	COGNIZANT TECHNOLOGY SOLUTIOcl a	$4,020,000	–	70,233	–	0.66%	–
AMTD	New	TD AMERITRADE HLDG CORP	$3,821,000	–	134,176	–	0.63%	–
AAPL	New	APPLE INC	$3,740,000	–	39,121	–	0.62%	–
FSLR	New	FIRST SOLAR INC	$3,684,000	–	75,993	–	0.61%	–
BKU	New	BANKUNITED INC	$3,495,000	–	113,783	–	0.58%	–
RHP	New	RYMAN HOSPITALITY PPTYS INC	$3,469,000	–	68,493	–	0.57%	–
SWKS	New	SKYWORKS SOLUTIONS INC	$3,429,000	–	54,195	–	0.57%	–
LOPE	New	GRAND CANYON ED INC	$3,402,000	–	85,231	–	0.56%	–
RCL	New	ROYAL CARIBBEAN CRUISES LTD	$2,890,000	–	43,042	–	0.48%	–
ON	New	ON SEMICONDUCTOR CORP	$2,606,000	–	295,432	–	0.43%	–
HAL	New	HALLIBURTON CO	$2,451,000	–	54,122	–	0.40%	–
ESRX	New	EXPRESS SCRIPTS HLDG CO	$2,163,000	–	28,541	–	0.36%	–
BOFI	New	BOFI HLDG INC	$1,767,000	–	99,802	–	0.29%	–
CRTO	New	CRITEO S Aspons ads	$1,629,000	–	35,469	–	0.27%	–
BAP	New	CREDICORP LTD	$1,608,000	–	10,422	–	0.26%	–
ZNGA	New	ZYNGA INCcl a	$1,463,000	–	587,650	–	0.24%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$1,421,000	–	54,167	–	0.24%	–
IAC	New	IAC INTERACTIVECORP	$1,121,000	–	19,913	–	0.18%	–
EDU	New	NEW ORIENTAL ED & TECH GRP Ispon adr	$1,108,000	–	26,451	–	0.18%	–
BIDU	New	BAIDU INC SPON ADRrep a	$1,003,000	–	6,074	–	0.17%	–
LMT	New	LOCKHEED MARTIN CORP	$904,000	–	3,641	–	0.15%	–
MELI	New	MERCADOLIBRE INC	$608,000	–	4,324	–	0.10%	–
IONS	New	IONIS PHARMACEUTICALS INC	$530,000	–	22,750	–	0.09%	–
SQM	New	SOCIEDAD QUIMICA MINERA DE Cspon adr ser b	$500,000	–	20,220	–	0.08%	–
FB	New	FACEBOOK INCcl a	$274,000	–	2,400	–	0.04%	–
CPA	New	COPA HOLDINGS SAcl a	$263,000	–	5,041	–	0.04%	–
LTRPA	New	LIBERTY TRIPADVISOR HLDGS IN	$256,000	–	11,704	–	0.04%	–
ILMN	New	ILLUMINA INC	$242,000	–	1,723	–	0.04%	–
FNGN	New	FINANCIAL ENGINES INC	$209,000	–	8,079	–	0.03%	–
CAVM	New	CAVIUM INC	$159,000	–	4,119	–	0.03%	–

Q4 2015

			Value		Shares		↓ Weighting
IAC	Exit	IAC INTERACTIVECORP	$0	–	-1,348	–	-0.01%	–
CPA	Exit	COPA HOLDINGS SAcl a	$0	–	-4,652	–	-0.03%	–
JMEI	Exit	JUMEI INTL HLDG LTDsponsored adr	$0	–	-20,554	–	-0.03%	–
YOKU	Exit	YOUKU TUDOU INCsponsored adr	$0	–	-12,729	–	-0.04%	–
CAVM	Exit	CAVIUM INC	$0	–	-3,847	–	-0.04%	–
LTRPA	Exit	LIBERTY TRIPADVISOR HLDGS IN	$0	–	-10,986	–	-0.04%	–
SQM	Exit	SOCIEDAD QUIMICA MINERA DE Cspon adr ser b	$0	–	-20,220	–	-0.04%	–
BOFI	Exit	BOFI HLDG INC	$0	–	-2,347	–	-0.05%	–
MELI	Exit	MERCADOLIBRE INC	$0	–	-3,964	–	-0.06%	–
BIDU	Exit	BAIDU INCspon adr rep a	$0	–	-3,626	–	-0.08%	–
ISIS	Exit	ISIS PHARMACEUTICALS INC	$0	–	-13,766	–	-0.09%	–
LMT	Exit	LOCKHEED MARTIN CORP	$0	–	-3,917	–	-0.12%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$0	–	-51,218	–	-0.16%	–
EDU	Exit	NEW ORIENTAL ED & TECH GRP Ispon adr	$0	–	-54,659	–	-0.17%	–
BAP	Exit	CREDICORP LTD	$0	–	-10,754	–	-0.18%	–
SWN	Exit	SOUTHWESTERN ENERGY CO	$0	–	-110,910	–	-0.22%	–
TEX	Exit	TEREX CORP NEW	$0	–	-85,063	–	-0.24%	–
ETN	Exit	EATON CORP PLC	$0	–	-31,879	–	-0.25%	–
SYMC	Exit	SYMANTEC CORP	$0	–	-88,389	–	-0.26%	–
SAVE	Exit	SPIRIT AIRLS INC	$0	–	-44,202	–	-0.32%	–
BBY	Exit	BEST BUY CO INC	$0	–	-60,021	–	-0.34%	–
HCA	Exit	HCA HOLDINGS INC	$0	–	-30,395	–	-0.36%	–
AYA	Exit	AMAYA INC	$0	–	-137,198	–	-0.39%	–
DNB	Exit	DUN & BRADSTREET CORP DEL NE	$0	–	-28,943	–	-0.47%	–
	Exit	RYMAN HOSPITALITY PROPERTIES	$0	–	-64,137	–	-0.49%	–
	Exit	BIG LOTS INC	$0	–	-75,830	–	-0.56%	–
ZNGA	Exit	ZYNGA INCcl a	$0	–	-1,684,614	–	-0.59%	–
FSLR	Exit	FIRST SOLAR INC	$0	–	-91,219	–	-0.60%	–
MAN	Exit	MANPOWERGROUP INC	$0	–	-51,494	–	-0.65%	–
TDS	Exit	TELEPHONE & DATA SYS INC	$0	–	-175,923	–	-0.68%	–
	Exit	BANKUNITED INC	$0	–	-122,793	–	-0.68%	–
RF	Exit	REGIONS FINL CORP NEW	$0	–	-517,015	–	-0.72%	–
SU	Exit	SUNCOR ENERGY INC	$0	–	-174,553	–	-0.72%	–
NDAQ	Exit	NASDAQ OMX GROUP/THE	$0	–	-89,502	–	-0.74%	–
MYL	Exit	MYLAN INC	$0	–	-119,658	–	-0.74%	–
	Exit	AUTOZONE INC	$0	–	-6,720	–	-0.75%	–
ESRX	Exit	EXPRESS SCRIPTS HOLDING CO	$0	–	-60,498	–	-0.76%	–
AIG	Exit	AMERICAN INTERNATIONAL GROUP	$0	–	-90,950	–	-0.80%	–
ORCL	Exit	ORACLE CORP	$0	–	-146,208	–	-0.81%	–
MCK	Exit	MCKESSON CORP	$0	–	-29,029	–	-0.83%	–
NLSN	Exit	NIELSEN N V	$0	–	-123,053	–	-0.84%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-61,792	–	-0.92%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-142,507	–	-0.97%	–
GOOGL	Exit	GOOGLE INCcl a	$0	–	-10,045	–	-0.99%	–
CMCSA	Exit	COMCAST CORP-CLASS Acl a	$0	–	-114,693	–	-1.00%	–
TWX	Exit	TIME WARNER INC	$0	–	-95,038	–	-1.01%	–
BTU	Exit	PEABODY ENERGY CORP	$0	–	-317,038	–	-1.01%	–
DG	Exit	DOLLAR GENERAL CORP	$0	–	-93,136	–	-1.04%	–
WIN	Exit	WINDSTREAM HLDGS INC	$0	–	-1,134,044	–	-1.07%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-31,089	–	-1.13%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-130,910	–	-1.23%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-81,764	–	-1.24%	–
KING	Exit	KING DIGITAL ENTMT PLC	$0	–	-911,545	–	-1.90%	–
WWE	Exit	WORLD WRESTLING ENTMT INCcl a	$0	–	-766,573	–	-2.00%	–
GOLD	Exit	BARRICK GOLD CORP	$0	–	-2,471,481	–	-2.42%	–
HOLI	Exit	HOLLYSYS AUTOMATION TECHNOLO	$0	–	-913,216	–	-2.46%	–
FRC	Exit	FIRST REP BK SAN FRANCISCO C	$0	–	-300,154	–	-2.90%	–
BRKS	Exit	BROOKS AUTOMATION INC	$0	–	-1,636,354	–	-2.95%	–
ON	Exit	ON SEMICONDUCTOR CORP	$0	–	-2,219,871	–	-3.22%	–
FCX	Exit	FREEPORT-MCMORAN INCcl b	$0	–	-2,395,749	–	-3.58%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWRE	$0	–	-883,153	–	-3.91%	–
MU	Exit	MICRON TECHNOLOGY INC	$0	–	-1,757,639	–	-4.06%	–
FTR	Exit	FRONTIER COMMUNICATIONS CORP	$0	–	-5,843,375	–	-4.28%	–
NYCB	Exit	NEW YORK CMNTY BANCORP INC	$0	–	-1,709,829	–	-4.76%	–
CNHI	Exit	CNH INDL N V	$0	–	-5,600,378	–	-5.62%	–
RCL	Exit	ROYAL CARIBBEAN CRUISES LTD	$0	–	-566,770	–	-7.78%	–
CFG	Exit	CITIZENS FINL GROUP INC	$0	–	-5,610,478	–	-20.63%	–

Q3 2015

			Value		Shares		↓ Weighting
CFG	Sell	CITIZENS FINL GROUP INC	$133,866,000	-20.7%	5,610,478	-9.2%	20.63%	-29.4%
RCL	Buy	ROYAL CARIBBEAN CRUISES LTD	$50,494,000	+17.6%	566,770	+3.9%	7.78%	+4.7%
CNHI	Buy	CNH INDL N V	$36,446,000	+156.4%	5,600,378	+259.1%	5.62%	+128.2%
NYCB	Buy	NEW YORK CMNTY BANCORP INC	$30,880,000	+21.3%	1,709,829	+23.4%	4.76%	+8.0%
FTR	Buy	FRONTIER COMMUNICATIONS CORP	$27,756,000	+453.3%	5,843,375	+476.6%	4.28%	+392.9%
MU	Buy	MICRON TECHNOLOGY INC	$26,329,000	+81.2%	1,757,639	+127.9%	4.06%	+61.4%
TTWO	Buy	TAKE-TWO INTERACTIVE SOFTWRE	$25,373,000	+11.2%	883,153	+6.7%	3.91%	-1.0%
FCX	Buy	FREEPORT-MCMORAN INCcl b	$23,215,000	+19.2%	2,395,749	+129.0%	3.58%	+6.1%
ON	New	ON SEMICONDUCTOR CORP	$20,867,000	–	2,219,871	–	3.22%	–
BRKS	Buy	BROOKS AUTOMATION INC	$19,162,000	+6.8%	1,636,354	+4.5%	2.95%	-4.9%
FRC	Buy	FIRST REP BK SAN FRANCISCO C	$18,841,000	+0.9%	300,154	+1.3%	2.90%	-10.2%
HOLI	Buy	HOLLYSYS AUTOMATION TECHNOLO	$15,963,000	-23.8%	913,216	+4.7%	2.46%	-32.2%
GOLD	Buy	BARRICK GOLD CORP	$15,719,000	+12277.2%	2,471,481	+20698.5%	2.42%	+10913.6%
WWE	Buy	WORLD WRESTLING ENTMT INCcl a	$12,955,000	+3.0%	766,573	+0.6%	2.00%	-8.2%
KING	New	KING DIGITAL ENTMT PLC	$12,342,000	–	911,545	–	1.90%	–
GILD	Buy	GILEAD SCIENCES INC	$8,028,000	+35.7%	81,764	+61.8%	1.24%	+20.8%
JPM	Buy	JPMORGAN CHASE & CO	$7,982,000	+37.6%	130,910	+52.9%	1.23%	+22.5%
ICE	Buy	INTERCONTINENTAL EXCHANGE IN	$7,306,000	+64.1%	31,089	+56.1%	1.13%	+46.0%
WIN	New	WINDSTREAM HLDGS INC	$6,963,000	–	1,134,044	–	1.07%	–
DG	Buy	DOLLAR GENERAL CORP	$6,747,000	+40.3%	93,136	+50.5%	1.04%	+24.8%
BTU	Sell	PEABODY ENERGY CORP	$6,563,000	-3.5%	317,038	-89.8%	1.01%	-14.1%
TWX	Buy	TIME WARNER INC	$6,534,000	+31.6%	95,038	+67.3%	1.01%	+17.2%
CMCSA	Buy	COMCAST CORP-CLASS Acl a	$6,524,000	+56.3%	114,693	+65.2%	1.00%	+39.0%
GOOGL	Buy	GOOGLE INCcl a	$6,412,000	+30.0%	10,045	+10.0%	0.99%	+15.7%
MSFT	Buy	MICROSOFT CORP	$6,307,000	+38.9%	142,507	+38.6%	0.97%	+23.7%
CVS	Buy	CVS HEALTH CORP	$5,962,000	+111.9%	61,792	+130.3%	0.92%	+88.7%
NLSN	Buy	NIELSEN N V	$5,472,000	+58.5%	123,053	+59.5%	0.84%	+41.0%
MCK	Buy	MCKESSON CORP	$5,371,000	+76.4%	29,029	+114.4%	0.83%	+57.1%
ORCL	Buy	ORACLE CORP	$5,281,000	+49.7%	146,208	+67.0%	0.81%	+33.2%
AIG	Buy	AMERICAN INTERNATIONAL GROUP	$5,168,000	+43.7%	90,950	+56.3%	0.80%	+28.0%
ESRX	Buy	EXPRESS SCRIPTS HOLDING CO	$4,898,000	+31.5%	60,498	+44.5%	0.76%	+17.1%
	Buy	AUTOZONE INC	$4,864,000	+37.3%	6,720	+26.5%	0.75%	+22.3%
MYL	Buy	MYLAN INC	$4,817,000	+89.9%	119,658	+220.0%	0.74%	+69.0%
NDAQ	Buy	NASDAQ OMX GROUP/THE	$4,773,000	+72.4%	89,502	+57.8%	0.74%	+53.7%
SU	Buy	SUNCOR ENERGY INC	$4,664,000	+88.6%	174,553	+94.3%	0.72%	+68.0%
RF	Buy	REGIONS FINL CORP NEW	$4,658,000	+61.3%	517,015	+85.5%	0.72%	+43.6%
	Buy	BANKUNITED INC	$4,390,000	+58.5%	122,793	+59.3%	0.68%	+41.3%
TDS	Buy	TELEPHONE & DATA SYS INC	$4,391,000	+60.3%	175,923	+88.7%	0.68%	+42.8%
MAN	Buy	MANPOWERGROUP INC	$4,217,000	+8.0%	51,494	+17.9%	0.65%	-3.8%
FSLR	Buy	FIRST SOLAR INC	$3,900,000	+55.6%	91,219	+70.9%	0.60%	+38.5%
ZNGA	Buy	ZYNGA INCcl a	$3,841,000	+39.1%	1,684,614	+74.5%	0.59%	+23.8%
	Buy	BIG LOTS INC	$3,634,000	+53.3%	75,830	+43.9%	0.56%	+36.6%
	Buy	RYMAN HOSPITALITY PROPERTIES	$3,157,000	+64.1%	64,137	+77.0%	0.49%	+46.2%
DNB	Buy	DUN & BRADSTREET CORP DEL NE	$3,039,000	+39.5%	28,943	+62.1%	0.47%	+24.1%
AYA	New	AMAYA INC	$2,505,000	–	137,198	–	0.39%	–
HCA	Sell	HCA HOLDINGS INC	$2,351,000	-22.4%	30,395	-8.9%	0.36%	-30.9%
BBY	Buy	BEST BUY CO INC	$2,228,000	+62.9%	60,021	+43.1%	0.34%	+44.7%
SAVE	Sell	SPIRIT AIRLS INC	$2,091,000	-89.2%	44,202	-85.9%	0.32%	-90.4%
SYMC	Buy	SYMANTEC CORP	$1,721,000	+26.6%	88,389	+51.2%	0.26%	+12.8%
ETN	Buy	EATON CORP PLC	$1,635,000	+30.2%	31,879	+71.3%	0.25%	+16.1%
TEX	Buy	TEREX CORP NEW	$1,526,000	+60.5%	85,063	+108.0%	0.24%	+42.4%
SWN	Buy	SOUTHWESTERN ENERGY CO	$1,407,000	+36.5%	110,910	+144.5%	0.22%	+21.9%
BAP	Buy	CREDICORP LTD	$1,144,000	+23.3%	10,754	+61.1%	0.18%	+9.3%
EDU	Buy	NEW ORIENTAL ED & TECH GRP Ispon adr	$1,105,000	+3.3%	54,659	+25.2%	0.17%	-8.1%
TSM	Buy	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$1,063,000	+1.9%	51,218	+11.5%	0.16%	-9.4%
LMT	Sell	LOCKHEED MARTIN CORP	$812,000	-98.3%	3,917	-98.5%	0.12%	-98.5%
ISIS	Buy	ISIS PHARMACEUTICALS INC	$556,000	+6.1%	13,766	+51.3%	0.09%	-5.5%
BIDU	Buy	BAIDU INCspon adr rep a	$498,000	+16.6%	3,626	+69.0%	0.08%	+4.1%
MELI	Buy	MERCADOLIBRE INC	$361,000	-6.5%	3,964	+45.4%	0.06%	-16.4%
BOFI	New	BOFI HLDG INC	$302,000	–	2,347	–	0.05%	–
SQM	Buy	SOCIEDAD QUIMICA MINERA DE Cspon adr ser b	$294,000	+41.3%	20,220	+55.5%	0.04%	+25.0%
LTRPA	Buy	LIBERTY TRIPADVISOR HLDGS IN	$244,000	-0.8%	10,986	+43.9%	0.04%	-11.6%
CAVM	Buy	CAVIUM INC	$236,000	+51.3%	3,847	+70.1%	0.04%	+33.3%
YOKU	Buy	YOUKU TUDOU INCsponsored adr	$224,000	+3.2%	12,729	+43.7%	0.04%	-7.9%
JMEI	Buy	JUMEI INTL HLDG LTDsponsored adr	$203,000	-29.5%	20,554	+63.3%	0.03%	-38.0%
CPA	Buy	COPA HOLDINGS SAcl a	$195,000	-13.3%	4,652	+70.7%	0.03%	-23.1%
IAC	New	IAC INTERACTIVECORP	$88,000	–	1,348	–	0.01%	–
K	Exit	KELLOGG CO	$0	–	-1,746	–	-0.02%	–
ERJ	Exit	EMBRAER SA	$0	–	-5,914	–	-0.03%	–
TXT	Exit	TEXTRON INC	$0	–	-40,187	–	-0.31%	–
KEY	Exit	KEYCORP NEW	$0	–	-265,514	–	-0.69%	–
CI	Exit	CIGNA CORP	$0	–	-25,040	–	-0.70%	–

Q2 2015

			Value		Shares		↓ Weighting
CFG	New	CITIZENS FINL GROUP INC	$168,715,000	–	6,177,775	–	29.20%	–
LMT	New	LOCKHEED MARTIN CORP	$48,094,000	–	258,709	–	8.32%	–
RCL	New	ROYAL CARIBBEAN CRUISES LTD	$42,935,000	–	545,626	–	7.43%	–
NYCB	New	NEW YORK CMNTY BANCORP INC	$25,468,000	–	1,385,613	–	4.41%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWRE	$22,823,000	–	827,817	–	3.95%	–
HOLI	New	HOLLYSYS AUTOMATION TECHNOLO	$20,958,000	–	872,179	–	3.63%	–
FCX	New	FREEPORT-MCMORAN INCcl b	$19,478,000	–	1,046,100	–	3.37%	–
SAVE	New	SPIRIT AIRLS INC	$19,431,000	–	312,902	–	3.36%	–
FRC	New	FIRST REP BK SAN FRANCISCO C	$18,680,000	–	296,363	–	3.23%	–
BRKS	New	BROOKS AUTOMATION INC	$17,935,000	–	1,566,384	–	3.10%	–
MU	New	MICRON TECHNOLOGY INC	$14,529,000	–	771,200	–	2.52%	–
CNHI	New	CNH INDL N V	$14,216,000	–	1,559,534	–	2.46%	–
WWE	New	WORLD WRESTLING ENTMT INCcl a	$12,572,000	–	761,915	–	2.18%	–
BTU	New	PEABODY ENERGY CORP	$6,799,000	–	3,104,700	–	1.18%	–
GILD	New	GILEAD SCIENCES INC	$5,916,000	–	50,529	–	1.02%	–
JPM	New	JPMORGAN CHASE & CO	$5,802,000	–	85,631	–	1.00%	–
FTR	New	FRONTIER COMMUNICATIONS CORP	$5,016,000	–	1,013,415	–	0.87%	–
TWX	New	TIME WARNER INC	$4,965,000	–	56,796	–	0.86%	–
GOOGL	New	GOOGLE INCcl a	$4,932,000	–	9,132	–	0.85%	–
DG	New	DOLLAR GENERAL CORP	$4,810,000	–	61,870	–	0.83%	–
MSFT	New	MICROSOFT CORP	$4,540,000	–	102,835	–	0.79%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$4,453,000	–	19,913	–	0.77%	–
CMCSA	New	COMCAST CORP-CLASS Acl a	$4,175,000	–	69,415	–	0.72%	–
CI	New	CIGNA CORP	$4,056,000	–	25,040	–	0.70%	–
KEY	New	KEYCORP NEW	$3,988,000	–	265,514	–	0.69%	–
MAN	New	MANPOWERGROUP INC	$3,905,000	–	43,692	–	0.68%	–
ESRX	New	EXPRESS SCRIPTS HOLDING CO	$3,725,000	–	41,877	–	0.64%	–
AIG	New	AMERICAN INTERNATIONAL GROUP	$3,596,000	–	58,172	–	0.62%	–
	New	AUTOZONE INC	$3,543,000	–	5,313	–	0.61%	–
ORCL	New	ORACLE CORP	$3,528,000	–	87,552	–	0.61%	–
NLSN	New	NIELSEN N V	$3,453,000	–	77,132	–	0.60%	–
MCK	New	MCKESSON CORP	$3,044,000	–	13,541	–	0.53%	–
HCA	New	HCA HOLDINGS INC	$3,028,000	–	33,375	–	0.52%	–
RF	New	REGIONS FINL CORP NEW	$2,887,000	–	278,665	–	0.50%	–
CVS	New	CVS HEALTH CORP	$2,814,000	–	26,827	–	0.49%	–
	New	BANKUNITED INC	$2,769,000	–	77,066	–	0.48%	–
NDAQ	New	NASDAQ OMX GROUP/THE	$2,769,000	–	56,733	–	0.48%	–
ZNGA	New	ZYNGA INCcl a	$2,761,000	–	965,421	–	0.48%	–
TDS	New	TELEPHONE & DATA SYS INC	$2,740,000	–	93,210	–	0.47%	–
MYL	New	MYLAN INC	$2,537,000	–	37,389	–	0.44%	–
FSLR	New	FIRST SOLAR INC	$2,507,000	–	53,361	–	0.43%	–
SU	New	SUNCOR ENERGY INC	$2,473,000	–	89,844	–	0.43%	–
	New	BIG LOTS INC	$2,370,000	–	52,681	–	0.41%	–
DNB	New	DUN & BRADSTREET CORP DEL NE	$2,178,000	–	17,855	–	0.38%	–
	New	RYMAN HOSPITALITY PROPERTIES	$1,924,000	–	36,232	–	0.33%	–
TXT	New	TEXTRON INC	$1,794,000	–	40,187	–	0.31%	–
BBY	New	BEST BUY CO INC	$1,368,000	–	41,947	–	0.24%	–
SYMC	New	SYMANTEC CORP	$1,359,000	–	58,468	–	0.24%	–
ETN	New	EATON CORP PLC	$1,256,000	–	18,608	–	0.22%	–
EDU	New	NEW ORIENTAL ED & TECH GRP Ispon adr	$1,070,000	–	43,649	–	0.18%	–
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$1,043,000	–	45,918	–	0.18%	–
SWN	New	SOUTHWESTERN ENERGY CO	$1,031,000	–	45,357	–	0.18%	–
TEX	New	TEREX CORP NEW	$951,000	–	40,901	–	0.16%	–
BAP	New	CREDICORP LTD	$928,000	–	6,677	–	0.16%	–
ISIS	New	ISIS PHARMACEUTICALS INC	$524,000	–	9,097	–	0.09%	–
BIDU	New	BAIDU INCspon adr rep a	$427,000	–	2,146	–	0.07%	–
MELI	New	MERCADOLIBRE INC	$386,000	–	2,726	–	0.07%	–
JMEI	New	JUMEI INTL HLDG LTDsponsored adr	$288,000	–	12,588	–	0.05%	–
LTRPA	New	LIBERTY TRIPADVISOR HLDGS IN	$246,000	–	7,634	–	0.04%	–
CPA	New	COPA HOLDINGS SAcl a	$225,000	–	2,725	–	0.04%	–
YOKU	New	YOUKU TUDOU INCsponsored adr	$217,000	–	8,856	–	0.04%	–
SQM	New	SOCIEDAD QUIMICA MINERA DE Cspon adr ser b	$208,000	–	13,004	–	0.04%	–
ERJ	New	EMBRAER SA	$179,000	–	5,914	–	0.03%	–
CAVM	New	CAVIUM INC	$156,000	–	2,262	–	0.03%	–
GOLD	New	BARRICK GOLD CORP	$127,000	–	11,883	–	0.02%	–
K	New	KELLOGG CO	$109,000	–	1,746	–	0.02%	–

Q4 2014

			Value		Shares		↓ Weighting
YOKU	Exit	YOUKU TUDOU INCsponsored adr	$0	–	-6,055	–	-0.02%	–
ERJ	Exit	EMBRAER SA	$0	–	-3,339	–	-0.02%	–
SQM	Exit	SOCIEDAD QUIMICA MINERA DE Cspon adr ser b	$0	–	-6,049	–	-0.03%	–
CPA	Exit	COPA HOLDINGS SAcl a	$0	–	-1,796	–	-0.03%	–
GOOGL	Exit	GOOGLE INCcl a	$0	–	-394	–	-0.04%	–
FRC	Exit	FIRST REP BK SAN FRANCISCO C	$0	–	-4,687	–	-0.04%	–
BIDU	Exit	BAIDU INCspon adr rep a	$0	–	-1,120	–	-0.04%	–
MELI	Exit	MERCADOLIBRE INC	$0	–	-2,623	–	-0.05%	–
SWN	Exit	SOUTHWESTERN ENERGY CO	$0	–	-10,378	–	-0.06%	–
RVBD	Exit	RIVERBED TECHNOLOGY INC	$0	–	-19,906	–	-0.06%	–
K	Exit	KELLOGG CO	$0	–	-6,773	–	-0.07%	–
TXT	Exit	TEXTRON INC	$0	–	-11,921	–	-0.07%	–
	Exit	RYMAN HOSPITALITY PROPERTIES	$0	–	-9,147	–	-0.07%	–
NVR	Exit	NVR INC	$0	–	-381	–	-0.07%	–
GM	Exit	GENERAL MOTORS CO	$0	–	-13,880	–	-0.08%	–
APC	Exit	ANADARKO PETROLEUM CORP	$0	–	-4,400	–	-0.08%	–
SYMC	Exit	SYMANTEC CORP	$0	–	-20,378	–	-0.08%	–
HAL	Exit	HALLIBURTON CO	$0	–	-7,443	–	-0.08%	–
CTXS	Exit	CITRIX SYSTEMS INC	$0	–	-6,864	–	-0.08%	–
NLSN	Exit	NIELSEN N V	$0	–	-11,157	–	-0.08%	–
VIAB	Exit	VIACOM INC NEWcl b	$0	–	-6,402	–	-0.08%	–
SCI	Exit	SERVICE CORP INTL	$0	–	-24,132	–	-0.09%	–
NSC	Exit	NORFOLK SOUTHERN CORP	$0	–	-4,845	–	-0.09%	–
CCL	Exit	CARNIVAL CORPpaired ctf	$0	–	-14,284	–	-0.10%	–
RCL	Exit	ROYAL CARIBBEAN CRUISES LTD	$0	–	-8,944	–	-0.10%	–
ICE	Exit	INTERCONTINENTAL EXCHANGE IN	$0	–	-3,146	–	-0.10%	–
HCA	Exit	HCA HOLDINGS INC	$0	–	-8,761	–	-0.10%	–
BAP	Exit	CREDICORP LTD	$0	–	-4,185	–	-0.11%	–
MCK	Exit	MCKESSON CORP	$0	–	-3,317	–	-0.11%	–
DG	Exit	DOLLAR GENERAL CORP	$0	–	-10,721	–	-0.11%	–
ORCL	Exit	ORACLE CORP	$0	–	-17,412	–	-0.11%	–
AIG	Exit	AMERICAN INTERNATIONAL GROUP	$0	–	-12,407	–	-0.11%	–
TSM	Exit	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$0	–	-33,444	–	-0.12%	–
ABBV	Exit	ABBVIE INC	$0	–	-12,219	–	-0.12%	–
C	Exit	CITIGROUP INC	$0	–	-13,714	–	-0.12%	–
NWBO	Exit	NORTHWEST BIOTHERAPEUTICS	$0	–	-150,579	–	-0.13%	–
	Exit	AMGEN INC	$0	–	-5,393	–	-0.13%	–
EDU	Exit	NEW ORIENTAL ED & TECH GRP Ispon adr	$0	–	-33,570	–	-0.13%	–
CVS	Exit	CVS HEALTH CORP	$0	–	-10,232	–	-0.14%	–
ETN	Exit	EATON CORP PLC	$0	–	-13,484	–	-0.14%	–
HPQ	Exit	HEWLETT-PACKARD CO	$0	–	-25,706	–	-0.16%	–
SU	Exit	SUNCOR ENERGY INC	$0	–	-25,791	–	-0.16%	–
TWX	Exit	TIME WARNER INC	$0	–	-12,458	–	-0.16%	–
MYL	Exit	MYLAN INC	$0	–	-21,242	–	-0.16%	–
	Exit	AUTOZONE INC	$0	–	-1,906	–	-0.16%	–
NDAQ	Exit	NASDAQ OMX GROUP/THE	$0	–	-24,330	–	-0.18%	–
GILD	Exit	GILEAD SCIENCES INC	$0	–	-10,124	–	-0.18%	–
CI	Exit	CIGNA CORP	$0	–	-11,968	–	-0.18%	–
ACE	Exit	ACE LTD	$0	–	-10,708	–	-0.19%	–
ESRX	Exit	EXPRESS SCRIPTS HOLDING CO	$0	–	-16,731	–	-0.20%	–
CMCSA	Exit	COMCAST CORP-CLASS Acl a	$0	–	-23,380	–	-0.21%	–
JPM	Exit	JPMORGAN CHASE & CO	$0	–	-22,613	–	-0.23%	–
NYCB	Exit	NEW YORK CMNTY BANCORP INC	$0	–	-337,705	–	-0.91%	–
NOC	Exit	NORTHROP GRUMMAN CORP	$0	–	-41,334	–	-0.92%	–
UTHR	Exit	UNITED THERAPEUTICS CORP DEL	$0	–	-43,471	–	-0.95%	–
RTN	Exit	RAYTHEON CO	$0	–	-106,974	–	-1.84%	–
BRKS	Exit	BROOKS AUTOMATION INC	$0	–	-1,258,711	–	-2.24%	–
TTWO	Exit	TAKE-TWO INTERACTIVE SOFTWRE	$0	–	-726,596	–	-2.84%	–
MSFT	Exit	MICROSOFT CORP	$0	–	-442,503	–	-3.48%	–
LMT	Exit	LOCKHEED MARTIN CORP	$0	–	-122,261	–	-3.79%	–
BBY	Exit	BEST BUY CO INC	$0	–	-718,412	–	-4.09%	–
ANF	Exit	ABERCROMBIE & FITCH CO-CL Acl a	$0	–	-891,544	–	-5.50%	–
ON	Exit	ON SEMICONDUCTOR CORPORATION	$0	–	-3,950,062	–	-5.99%	–
HES	Exit	HESS CORP	$0	–	-395,698	–	-6.33%	–
CHKP	Exit	CHECK POINT SOFTWARE TECH LTord	$0	–	-874,784	–	-10.28%	–
FSLR	Exit	FIRST SOLAR INC	$0	–	-1,850,357	–	-20.66%	–
GOLD	Exit	BARRICK GOLD CORP	$0	–	-9,879,002	–	-24.57%	–

Q3 2014

			Value		Shares		↓ Weighting
GOLD	Buy	BARRICK GOLD CORP	$144,826,000	+27.4%	9,879,002	+59.0%	24.57%	-6.0%
FSLR	Buy	FIRST SOLAR INC	$121,772,000	+45.3%	1,850,357	+56.8%	20.66%	+7.1%
CHKP	Buy	CHECK POINT SOFTWARE TECH LTord	$60,570,000	+54.4%	874,784	+49.5%	10.28%	+13.9%
HES	Buy	HESS CORP	$37,322,000	+375.3%	395,698	+398.3%	6.33%	+250.6%
ON	Buy	ON SEMICONDUCTOR CORPORATION	$35,314,000	+323.1%	3,950,062	+332.6%	5.99%	+212.0%
ANF	Buy	ABERCROMBIE & FITCH CO-CL Acl a	$32,399,000	+22.8%	891,544	+46.2%	5.50%	-9.4%
BBY	Buy	BEST BUY CO INC	$24,131,000	+83.0%	718,412	+69.0%	4.09%	+35.0%
LMT	Sell	LOCKHEED MARTIN CORP	$22,347,000	-30.6%	122,261	-39.0%	3.79%	-48.8%
MSFT	Buy	MICROSOFT CORP	$20,514,000	+2694.8%	442,503	+2413.9%	3.48%	+1959.2%
TTWO	Buy	TAKE-TWO INTERACTIVE SOFTWRE	$16,763,000	+7.8%	726,596	+3.9%	2.84%	-20.5%
BRKS	New	BROOKS AUTOMATION INC	$13,229,000	–	1,258,711	–	2.24%	–
RTN	New	RAYTHEON CO	$10,871,000	–	106,974	–	1.84%	–
UTHR	New	UNITED THERAPEUTICS CORP DEL	$5,593,000	–	43,471	–	0.95%	–
NOC	New	NORTHROP GRUMMAN CORP	$5,446,000	–	41,334	–	0.92%	–
NYCB	New	NEW YORK CMNTY BANCORP INC	$5,359,000	–	337,705	–	0.91%	–
JPM	Buy	JPMORGAN CHASE & CO	$1,362,000	+126.2%	22,613	+116.6%	0.23%	+67.4%
CMCSA	Buy	COMCAST CORP-CLASS Acl a	$1,257,000	+123.3%	23,380	+122.8%	0.21%	+63.8%
ESRX	Buy	EXPRESS SCRIPTS HOLDING CO	$1,182,000	+145.7%	16,731	+141.3%	0.20%	+81.1%
ACE	Buy	ACE LTD	$1,123,000	+134.9%	10,708	+132.3%	0.19%	+73.6%
CI	Buy	CIGNA CORP	$1,085,000	+139.5%	11,968	+142.8%	0.18%	+76.9%
GILD	Buy	GILEAD SCIENCES INC	$1,078,000	+129.4%	10,124	+78.4%	0.18%	+69.4%
NDAQ	Buy	NASDAQ OMX GROUP/THE	$1,032,000	+160.6%	24,330	+137.3%	0.18%	+92.3%
	New	AUTOZONE INC	$971,000	–	1,906	–	0.16%	–
MYL	Buy	MYLAN INC	$966,000	+116.6%	21,242	+145.7%	0.16%	+59.2%
TWX	Buy	TIME WARNER INC	$937,000	+108.2%	12,458	+94.6%	0.16%	+52.9%
SU	Buy	SUNCOR ENERGY INC	$932,000	+114.7%	25,791	+153.2%	0.16%	+58.0%
HPQ	Sell	HEWLETT-PACKARD CO	$912,000	-98.6%	25,706	-98.7%	0.16%	-99.0%
ETN	Buy	EATON CORP PLC	$854,000	+84.1%	13,484	+124.4%	0.14%	+35.5%
CVS	Buy	CVS HEALTH CORP	$814,000	+55.0%	10,232	+46.9%	0.14%	+14.0%
EDU	New	NEW ORIENTAL ED & TECH GRP Ispon adr	$779,000	–	33,570	–	0.13%	–
	Buy	AMGEN INC	$758,000	+62.0%	5,393	+36.4%	0.13%	+19.4%
C	Buy	CITIGROUP INC	$711,000	+62.0%	13,714	+47.1%	0.12%	+19.8%
ABBV	Buy	ABBVIE INC	$706,000	+49.6%	12,219	+46.0%	0.12%	+10.1%
TSM	New	TAIWAN SEMICONDUCTOR MFG LTDsponsored adr	$675,000	–	33,444	–	0.12%	–
AIG	Buy	AMERICAN INTERNATIONAL GROUP	$670,000	+45.3%	12,407	+46.8%	0.11%	+7.5%
ORCL	Buy	ORACLE CORP	$667,000	+38.1%	17,412	+46.3%	0.11%	+1.8%
DG	Buy	DOLLAR GENERAL CORP	$655,000	+63.8%	10,721	+53.8%	0.11%	+20.7%
MCK	Buy	MCKESSON CORP	$646,000	+53.8%	3,317	+47.2%	0.11%	+13.4%
BAP	New	CREDICORP LTD	$642,000	–	4,185	–	0.11%	–
HCA	Buy	HCA HOLDINGS INC	$618,000	+58.1%	8,761	+26.4%	0.10%	+16.7%
ICE	Buy	INTERCONTINENTAL EXCHANGE IN	$614,000	+51.6%	3,146	+46.8%	0.10%	+11.8%
RCL	Buy	ROYAL CARIBBEAN CRUISES LTD	$602,000	+78.6%	8,944	+47.4%	0.10%	+30.8%
CCL	New	CARNIVAL CORPpaired ctf	$574,000	–	14,284	–	0.10%	–
NSC	Buy	NORFOLK SOUTHERN CORP	$541,000	+28.8%	4,845	+18.9%	0.09%	-5.2%
SCI	New	SERVICE CORP INTL	$510,000	–	24,132	–	0.09%	–
VIAB	Buy	VIACOM INC NEWcl b	$493,000	+29.4%	6,402	+45.8%	0.08%	-4.5%
NLSN	New	NIELSEN N V	$495,000	–	11,157	–	0.08%	–
CTXS	Buy	CITRIX SYSTEMS INC	$490,000	+63.3%	6,864	+43.0%	0.08%	+20.3%
HAL	Buy	HALLIBURTON CO	$480,000	+33.0%	7,443	+46.3%	0.08%	-2.4%
SYMC	Buy	SYMANTEC CORP	$479,000	+50.2%	20,378	+46.4%	0.08%	+11.0%
APC	Buy	ANADARKO PETROLEUM CORP	$446,000	+35.6%	4,400	+46.4%	0.08%	0.0%
GM	Buy	GENERAL MOTORS CO	$443,000	+29.2%	13,880	+46.9%	0.08%	-5.1%
	Buy	RYMAN HOSPITALITY PROPERTIES	$433,000	+43.9%	9,147	+46.6%	0.07%	+5.8%
TXT	Buy	TEXTRON INC	$429,000	+37.1%	11,921	+45.9%	0.07%	+1.4%
NVR	Buy	NVR INC	$431,000	+43.2%	381	+45.4%	0.07%	+5.8%
K	New	KELLOGG CO	$417,000	–	6,773	–	0.07%	–
RVBD	Buy	RIVERBED TECHNOLOGY INC	$369,000	+30.4%	19,906	+45.3%	0.06%	-3.1%
SWN	Buy	SOUTHWESTERN ENERGY CO	$363,000	+25.2%	10,378	+62.6%	0.06%	-7.5%
MELI	New	MERCADOLIBRE INC	$285,000	–	2,623	–	0.05%	–
BIDU	New	BAIDU INCspon adr rep a	$244,000	–	1,120	–	0.04%	–
GOOGL	New	GOOGLE INCcl a	$232,000	–	394	–	0.04%	–
FRC	New	FIRST REP BK SAN FRANCISCO C	$231,000	–	4,687	–	0.04%	–
CPA	New	COPA HOLDINGS SAcl a	$193,000	–	1,796	–	0.03%	–
SQM	New	SOCIEDAD QUIMICA MINERA DE Cspon adr ser b	$158,000	–	6,049	–	0.03%	–
ERJ	New	EMBRAER SA	$131,000	–	3,339	–	0.02%	–
YOKU	New	YOUKU TUDOU INCsponsored adr	$109,000	–	6,055	–	0.02%	–
ATVI	Exit	ACTIVISION BLIZZARD INC	$0	–	-13,666	–	-0.07%	–
AZO	Exit	AUTOZONE INC	$0	–	-752	–	-0.09%	–
CVX	Exit	CHEVRON CORP	$0	–	-95,595	–	-2.87%	–

Q2 2014

			Value		Shares		↓ Weighting
GOLD	New	BARRICK GOLD CORP	$113,671,000	–	6,211,538	–	26.15%	–
FSLR	New	FIRST SOLAR INC	$83,836,000	–	1,179,789	–	19.28%	–
HPQ	New	HEWLETT-PACKARD CO	$65,572,000	–	1,946,922	–	15.08%	–
CHKP	New	CHECK POINT SOFTWARE TECHord	$39,226,000	–	585,200	–	9.02%	–
LMT	New	LOCKHEED MARTIN CORP	$32,200,000	–	200,338	–	7.41%	–
ANF	New	ABERCROMBIE & FITCH CO-CL Acl a	$26,378,000	–	609,885	–	6.07%	–
TTWO	New	TAKE-TWO INTERACTIVE SOFTWRE	$15,550,000	–	699,198	–	3.58%	–
BBY	New	BEST BUY CO INC	$13,183,000	–	425,126	–	3.03%	–
CVX	New	CHEVRON CORP	$12,480,000	–	95,595	–	2.87%	–
ON	New	ON SEMICONDUCTOR CORPORATION	$8,346,000	–	913,155	–	1.92%	–
HES	New	HESS CORP	$7,853,000	–	79,409	–	1.81%	–
NWBO	New	NORTHWEST BIOTHERAPEUTICS	$1,010,000	–	150,579	–	0.23%	–
MSFT	New	MICROSOFT CORP	$734,000	–	17,602	–	0.17%	–
JPM	New	JPMORGAN CHASE & CO	$602,000	–	10,442	–	0.14%	–
CMCSA	New	COMCAST CORP-CLASS Acl a	$563,000	–	10,495	–	0.13%	–
CVS	New	CVS CAREMARK CORP	$525,000	–	6,967	–	0.12%	–
ESRX	New	EXPRESS SCRIPTS HOLDING CO	$481,000	–	6,934	–	0.11%	–
ORCL	New	ORACLE CORP	$483,000	–	11,905	–	0.11%	–
ACE	New	ACE LTD	$478,000	–	4,609	–	0.11%	–
ABBV	New	ABBVIE INC	$472,000	–	8,367	–	0.11%	–
GILD	New	GILEAD SCIENCES INC	$470,000	–	5,674	–	0.11%	–
	New	AMGEN INC	$468,000	–	3,955	–	0.11%	–
ETN	New	EATON CORP PLC	$464,000	–	6,010	–	0.11%	–
AIG	New	AMERICAN INTERNATIONAL GROUP	$461,000	–	8,449	–	0.11%	–
CI	New	CIGNA CORP	$453,000	–	4,930	–	0.10%	–
TWX	New	TIME WARNER INC	$450,000	–	6,401	–	0.10%	–
MYL	New	MYLAN INC	$446,000	–	8,644	–	0.10%	–
C	New	CITIGROUP INC	$439,000	–	9,326	–	0.10%	–
SU	New	SUNCOR ENERGY INC	$434,000	–	10,187	–	0.10%	–
NSC	New	NORFOLK SOUTHERN CORP	$420,000	–	4,074	–	0.10%	–
MCK	New	MCKESSON CORP	$420,000	–	2,254	–	0.10%	–
AZO	New	AUTOZONE INC	$403,000	–	752	–	0.09%	–
ICE	New	INTERCONTINENTAL EXCHANGE IN	$405,000	–	2,143	–	0.09%	–
DG	New	DOLLAR GENERAL CORP	$400,000	–	6,969	–	0.09%	–
NDAQ	New	NASDAQ OMX GROUP/THE	$396,000	–	10,251	–	0.09%	–
HCA	New	HCA HOLDINGS INC	$391,000	–	6,932	–	0.09%	–
VIAB	New	VIACOM INC-CLASS Bcl b	$381,000	–	4,390	–	0.09%	–
HAL	New	HALLIBURTON CO	$361,000	–	5,089	–	0.08%	–
GM	New	GENERAL MOTORS CO	$343,000	–	9,451	–	0.08%	–
RCL	New	ROYAL CARIBBEAN CRUISES LTD	$337,000	–	6,067	–	0.08%	–
APC	New	ANADARKO PETROLEUM CORP	$329,000	–	3,005	–	0.08%	–
SYMC	New	SYMANTEC CORP	$319,000	–	13,915	–	0.07%	–
TXT	New	TEXTRON INC	$313,000	–	8,168	–	0.07%	–
ATVI	New	ACTIVISION BLIZZARD INC	$305,000	–	13,666	–	0.07%	–
NVR	New	NVR INC	$301,000	–	262	–	0.07%	–
	New	RYMAN HOSPITALITY PROPERTIES	$301,000	–	6,241	–	0.07%	–
CTXS	New	CITRIX SYSTEMS INC	$300,000	–	4,799	–	0.07%	–
SWN	New	SOUTHWESTERN ENERGY CO	$290,000	–	6,381	–	0.07%	–
RVBD	New	RIVERBED TECHNOLOGY INC	$283,000	–	13,703	–	0.06%	–

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