0001193125-12-442809.txt : 20121031 0001193125-12-442809.hdr.sgml : 20121031 20121031105653 ACCESSION NUMBER: 0001193125-12-442809 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20120930 FILED AS OF DATE: 20121031 DATE AS OF CHANGE: 20121031 EFFECTIVENESS DATE: 20121031 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DnB Asset Management AS CENTRAL INDEX KEY: 0001456670 IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-13463 FILM NUMBER: 121169926 BUSINESS ADDRESS: STREET 1: OVRE SLOTTSGATE 3 CITY: OSLO STATE: Q8 ZIP: N-0021 BUSINESS PHONE: 0114791503000 MAIL ADDRESS: STREET 1: OVRE SLOTTSGATE 3 CITY: OSLO STATE: Q8 ZIP: N-0021 FORMER COMPANY: FORMER CONFORMED NAME: DnB NOR Asset Management AS DATE OF NAME CHANGE: 20090219 13F-HR 1 d431098d13fhr.txt FORM 13F - HOLDINGS REPORT ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2012 Check here if Amendment [ ]; Amendment Number: -------------------------------- This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: DnB NOR Asset Management AS Address: Ovre Slottsgate 3 Oslo, Norway N-0021 Form 13F File Number: 28-13463 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, ad that it is understood that all required items statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Erik Garaas Title: EVP Phone: 4791503000 Signature, place, and Date of Signing: /s/ Erik Garaas Oslo, Norway September 30, 2012 ----------------------- ------------------------ ----------------------- [Signature] [City, State] [Date] Report Type (Check only one.): [X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: ================================================================================ FORM 13F SUMMARY PAGE Report summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 340 Form 13F Information Table Value Total (x$1000): 2,918,412 List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name 1 DNB Asset Management AS (GRAPHIC) ASSET MANAGEMENT 13F US Government report 9/30/2012

ITEM 6: INVESTMENT DISCRETION ITEM 8: ITEM 2 ITEM 4 SHARED ITEM 7 VOTING AUTHORITY ITEM 1 TITLE OF ITEM 3 MARKET ITEM 5 SH/ PUT/ SOLE SHARED OTHER OTHER SOLE SHARED NONE NAME OF ISSUER CLASS CUSIP VALUE VOLUME PRN CALL (A) (B) (C) Managers (A) (B) (C) Citigroup Inc common 172967424 88,930,800 2,717,934 SH 2,717,934 1 2,717,934 Boston Scientific Corp common 101137107 2,334,745 406,750 SH 406,750 1 406,750 Laboratory Corp Amer Hldg common 50540R409 35,145,628 380,076 SH 380,076 1 380,076 Anadarko Petroleum Corporation common 032511107 53,150,877 760,167 SH 760,167 1 760,167 Gilead Sciences Inc common 375558103 7,600,821 114,591 SH 114,591 1 114,591 Biogen Idec Inc common 09062X103 1,954,615 13,098 SH 13,098 1 13,098 ConocoPhillips common 20825C104 16,460,006 287,863 SH 287,863 1 287,863 Microsoft Corporation common 594918104 19,954,536 670,065 SH 670,065 1 670,065 eBay Inc common 278642103 1,747,456 36,097 SH 36,097 1 36,097 Chevron Corp common 166764100 11,233,703 96,377 SH 96,377 1 96,377 PepsiCo Inc common 713448108 7,673,874 108,434 SH 108,434 1 108,434 McKesson Corporation common 58155Q103 2,365,739 27,499 SH 27,499 1 27,499 Cliffs Natural Resources Inc common 18683K101 1,671,712 42,722 SH 42,722 1 42,722 Wells Fargo and Company common 949746101 4,635,998 134,260 SH 134,260 1 134,260 QLogic Corp common 747277101 425,966 37,300 SH 37,300 1 37,300 NetApp Inc common 64110D104 464,430 14,125 SH 14,125 1 14,125 Bunge common G16962105 39,327,775 586,544 SH 586,544 1 586,544 Thermo Fisher Scientific common 883556102 1,524,168 25,908 SH 25,908 1 25,908 Electronic Arts Inc common 285512109 10,172,101 801,584 SH 801,584 1 801,584 Yingli Green Energy Holding Co Ltd ADR common 98584B103 2,970,072 1,736,884 SH 1,736,884 1 1,736,884 Molson Coors Brewery Co exchangable Class B common 60871R209 3,205,217 71,148 SH 71,148 1 71,148 KBR Inc common 48242W106 458,244 15,367 SH 15,367 1 15,367 Owens-Illinois common 690768403 3,990,139 212,694 SH 212,694 1 212,694 AGCO Corp common 001084102 32,746,956 689,700 SH 689,700 1 689,700 Pioneer Natural Resources Co common 723787107 2,020,244 19,351 SH 19,351 1 19,351 Time Warner Cable Inc common 88732J207 18,770,738 197,462 SH 197,462 1 197,462 Calpine Corp common 131347304 21,319,274 1,232,328 SH 1,232,328 1 1,232,328 SunTrust Banks common 867914103 405,561 14,346 SH 14,346 1 14,346 Sk Telekom ADR common 78440P108 493,744 33,981 SH 33,981 1 33,981 United Micro Electronics Corp ADR common 910873405 355,277 173,306 SH 173,306 1 173,306 Green Plains Renewable Energy Inc common 393222104 12,480,528 2,129,783 SH 2,129,783 1 2,129,783 Oi SA ADR common 670851203 549,948 136,803 SH 136,803 1 136,803 Acme Packet Inc common 004764106 831,060 48,600 SH 48,600 1 48,600 Allegheny Technologies common 01741R102 23,062,743 722,970 SH 722,970 1 722,970 Research In Motion common 760975102 1,891,500 252,200 SH 252,200 1 252,200 News Corp common 65248E104 522,440 21,298 SH 21,298 1 21,298 Total System Services Inc common 891906109 259,183 10,936 SH 10,936 1 10,936 BB and T Corporation common 054937107 443,482 13,374 SH 13,374 1 13,374 Peoples United Financial Inc common 712704105 716,369 59,009 SH 59,009 1 59,009 Gevo Inc common 374396109 3,727,500 1,750,000 SH 1,750,000 1 1,750,000 Oclaro Inc common 67555N206 839,465 310,913 SH 310,913 1 310,913 Ironwood Pharmaceuticals Inc common 46333X108 1,320,391 103,317 SH 103,317 1 103,317 Abbott Laboratories common 002824100 6,659,507 97,134 SH 97,134 1 97,134 Aetna Inc common 00817Y108 1,572,912 39,720 SH 39,720 1 39,720 Polycom Inc common 73172K104 7,771,233 787,359 SH 787,359 1 787,359 Oracle Corporation common 68389X105 20,212,612 641,874 SH 641,874 1 641,874 AES Corp common 00130H105 2,396,024 218,416 SH 218,416 1 218,416 Costco Wholesale Corporation common 22160K105 3,008,456 30,047 SH 30,047 1 30,047 Devon Energy Corporation common 25179M103 4,180,006 69,091 SH 69,091 1 69,091 Baxter International Inc common 071813109 2,667,770 44,271 SH 44,271 1 44,271 Chesapeake Energy Corp common 165167107 1,674,184 88,722 SH 88,722 1 88,722 Dominion Resources Inc common 25746U109 2,830,437 53,465 SH 53,465 1 53,465 Archer Daniels Midland common 039483102 2,629,420 96,741 SH 96,741 1 96,741 Air Products & Chemicals Inc common 009158106 1,087,670 13,152 SH 13,152 1 13,152 Nike Inc common 654106103 1,549,785 16,329 SH 16,329 1 16,329 Mylan Inc common 628530107 3,774,363 154,687 SH 154,687 1 154,687 Visa Inc common 92826C839 3,067,224 22,842 SH 22,842 1 22,842 WuXi PharmaTech Cayman Inc ADR common 929352102 5,969,492 400,100 SH 400,100 1 400,100 East West Bancorp Inc common 27579R104 14,549,906 689,569 SH 689,569 1 689,569 Southwestern Energy Co common 845467109 564,375 16,227 SH 16,227 1 16,227 LSB Industries Inc common 502160104 1,079,667 24,605 SH 24,605 1 24,605 Taiwan Semiconductor Manufacturing Co Ltd ADR common 874039100 1,040,292 65,758 SH 65,758 1 65,758 Tata Motors Ltd ADR common 876568502 735,368 28,647 SH 28,647 1 28,647 CIT Group Inc common 125581801 442,822 11,242 SH 11,242 1 11,242 Seagate Technology common 00B58JVZ5 386,911 12,481 SH 12,481 1 12,481 Kroger Company common 501044101 254,185 10,798 SH 10,798 1 10,798 Weatherford International Ltd common 003883839 1,159,890 91,474 SH 91,474 1 91,474 Alliant Energy Corp common 018802108 1,062,448 24,486 SH 24,486 1 24,486 Williams Companies common 969457100 478,180 13,674 SH 13,674 1 13,674 NiSource Inc common 65473P105 273,349 10,728 SH 10,728 1 10,728 Sysco Corporation common 871829107 367,673 11,758 SH 11,758 1 11,758 Key Energy Services Inc common 492914106 28,160,454 4,022,922 SH 4,022,922 1 4,022,922 Vale SA-SP Pref ADR common 91912E204 1,335,753 76,900 SH 76,900 1 76,900 Pacific Drilling Ltd common 061169563 689,924 69,200 SH 69,200 1 69,200 Acorn Energy Inc common 004848107 240,751 26,990 SH 26,990 1 26,990 Tenneco common 880349105 21,771,434 777,829 SH 777,829 1 777,829 Baker Hughes Inc common 057224107 3,352,402 74,119 SH 74,119 1 74,119 Amgen Inc common 031162100 3,357,285 39,816 SH 39,816 1 39,816 Wellpoint Inc common 94973V107 1,225,055 21,118 SH 21,118 1 21,118 Tyco International Ltd common 010038348 14,203,962 252,470 SH 252,470 1 252,470 Fifth Third Bancorp common 316773100 1,548,410 99,833 SH 99,833 1 99,833 Intel Corporation common 458140100 7,062,824 311,412 SH 311,412 1 311,412 Liberty Property Trust common 531172104 1,119,816 30,900 SH 30,900 1 30,900 McGraw Hill Companies common 580645109 955,489 17,503 SH 17,503 1 17,503 Micron Technology Inc common 595112103 424,384 70,908 SH 70,908 1 70,908 Qualcomm Inc common 747525103 3,992,861 63,896 SH 63,896 1 63,896 Mobile Telesystems OJSC ADR common 607409109 2,118,413 120,914 SH 120,914 1 120,914 Comcast Corp common 20030N101 11,354,221 317,423 SH 317,423 1 317,423 CVS Caremark Corp common 126650100 6,042,477 124,793 SH 124,793 1 124,793 Unum Group common 91529Y106 904,878 47,080 SH 47,080 1 47,080

(GRAPHIC) ASSET MANAGEMENT 13F US Government report 9/30/2012

ITEM 6: INVESTMENT DISCRETION ITEM 8: ITEM 2 ITEM 4 SHARED ITEM 7 VOTING AUTHORITY ITEM 1 TITLE OF ITEM 3 MARKET ITEM 5 SH/ PUT/ SOLE SHARED OTHER OTHER SOLE SHARED NONE NAME OF ISSUER CLASS CUSIP VALUE VOLUME PRN CALL (A) (B) (C) Managers (A) (B) (C) Eaton Corporation common 278058102 966,940 20,460 SH 20,460 1 20,460 Lexmark International common 529771107 2,574,112 115,951 SH 115,951 1 115,951 Union Pacific Corporation common 907818108 5,202,740 43,831 SH 43,831 1 43,831 Noble Energy common 655044105 11,731,802 126,543 SH 126,543 1 126,543 Morgan Stanley common 617446448 1,012,000 60,454 SH 60,454 1 60,454 Western Union Co common 959802109 1,104,114 60,599 SH 60,599 1 60,599 Expedia Inc common 30212P303 3,168,417 54,779 SH 54,779 1 54,779 HCP Inc common 40414L109 1,417,400 31,866 SH 31,866 1 31,866 Becton Dickinson and Company common 075887109 36,619,487 466,134 SH 466,134 1 466,134 NextEra Energy Inc common 65339F101 3,582,048 50,932 SH 50,932 1 50,932 Beam Inc common 073730103 1,845,480 32,073 SH 32,073 1 32,073 Nabors Industries Ltd common G6359F103 1,163,817 82,952 SH 82,952 1 82,952 EOG Resources Inc common 26875P101 2,730,771 24,371 SH 24,371 1 24,371 TJX Cos Inc common 872540109 538,465 12,022 SH 12,022 1 12,022 Assurant Inc common 04621X108 798,705 21,413 SH 21,413 1 21,413 Saic Inc common 78390X101 830,832 69,006 SH 69,006 1 69,006 Centrais Eletricas Brasileiras SA ADR common 15234Q207 489,818 82,600 SH 82,600 1 82,600 Capital One Financial common 14040H105 764,219 13,405 SH 13,405 1 13,405 Fuel Tech Inc common 359523107 514,666 123,421 SH 123,421 1 123,421 Hartford Financial Services Group common 416515104 429,099 22,073 SH 22,073 1 22,073 Wipro Ltd ADR common 97651M109 306,054 34,196 SH 34,196 1 34,196 Allstate Corporation common 020002101 572,919 14,464 SH 14,464 1 14,464 Genworth Financial CL A common 37247D106 265,423 50,750 SH 50,750 1 50,750 Halliburton common 406216101 1,671,395 49,611 SH 49,611 1 49,611 Comcast Corporation Cl A Special Common Stock common 20030N200 423,446 12,168 SH 12,168 1 12,168 National Oilwell Varco common 637071101 2,446,960 30,545 SH 30,545 1 30,545 Exelon Co common 30161N101 360,746 10,139 SH 10,139 1 10,139 CareFusion Corp common 14170T101 3,639,825 128,208 SH 128,208 1 128,208 General Motors Corporation common 37045V100 882,291 38,782 SH 38,782 1 38,782 Hudson City Bancorp Inc common 443683107 358,439 45,030 SH 45,030 1 45,030 Prospect Capital Corp common 74348T102 395,136 34,300 SH 34,300 1 34,300 CMS Energy Corp common 125896100 1,250,128 53,084 SH 53,084 1 53,084 Modine Manufacturing Co common 607828100 528,674 71,636 SH 71,636 1 71,636 Cisco Systems Inc common 17275R102 97,084,696 5,085,631 SH 5,085,631 1 5,085,631 MetLife common 59156R108 47,527,646 1,379,212 SH 1,379,212 1 1,379,212 Bristol-Myers Squibb Company common 110122108 5,184,135 153,604 SH 153,604 1 153,604 Corning Incorporated common 219350105 42,114,466 3,202,621 SH 3,202,621 1 3,202,621 Google Inc common 38259P508 145,689,423 193,094 SH 193,094 1 193,094 Johnson Controls common 478366107 34,273,263 1,250,849 SH 1,250,849 1 1,250,849 Staples common 855030102 2,958,900 256,849 SH 256,849 1 256,849 Petroleo Brasileiro SA ADR common 71654V101 3,346,496 151,631 SH 151,631 1 151,631 Deere & Co common 244199105 877,199 10,634 SH 10,634 1 10,634 Mechel ADR common 583840103 827,017 117,474 SH 117,474 1 117,474 Advance Auto Parts common 00751Y106 2,996,645 43,785 SH 43,785 1 43,785 Transocean Ltd common 004826551 2,373,738 52,879 SH 52,879 1 52,879 Valero Energy Corp common 91913Y100 3,264,751 103,054 SH 103,054 1 103,054 Legg Mason Inc common 524901105 972,293 39,396 SH 39,396 1 39,396 Best Buy Company common 086516101 2,983,410 173,555 SH 173,555 1 173,555 GameStop Corp common 36467W109 1,806,021 86,001 SH 86,001 1 86,001 Mondelez International Inc common 609207105 4,657,085 112,626 SH 112,626 1 112,626 Apollo Invstment common 03761U106 538,921 68,391 SH 68,391 1 68,391 Prudential Financial common 744320102 2,159,741 39,621 SH 39,621 1 39,621 Colgate Palmolive Company common 194162103 3,257,022 30,377 SH 30,377 1 30,377 SEI Investments Co common 784117103 1,104,632 51,498 SH 51,498 1 51,498 EnerNOC Inc common 292764107 14,079,964 1,084,743 SH 1,084,743 1 1,084,743 Coca-Cola Enterprises Inc common 19122T109 3,293,044 105,310 SH 105,310 1 105,310 Forest Laboratories Inc common 345838106 2,231,999 62,679 SH 62,679 1 62,679 Borgwarner common 099724106 1,351,930 19,562 SH 19,562 1 19,562 Southern Copper Corp common 84265V105 814,607 23,708 SH 23,708 1 23,708 Flowserve Corp common 34354P105 4,118,338 32,240 SH 32,240 1 32,240 Itau Unibanco Banco Multiplo SA ADR common 465562106 907,082 59,364 SH 59,364 1 59,364 Ctrip.com International Ltd ADR common 22943F100 2,374,172 140,650 SH 140,650 1 140,650 Focus Media Holding Ltd ADR common 34415V109 4,083,417 174,505 SH 174,505 1 174,505 Hydrogenics Corp common 448883207 584,481 111,118 SH 111,118 1 111,118 KKR & CO LP common 48248M102 918,174 60,766 SH 60,766 1 60,766 Dr Horton Inc common 23331A109 345,390 16,734 SH 16,734 1 16,734 EnergySolutions Inc common 292756202 249,418 91,362 SH 91,362 1 91,362 Teva Pharmaceutical Industries ADR common 881624209 660,992 15,966 SH 15,966 1 15,966 Berkshire Hathaway Inc common 084670702 984,665 11,164 SH 11,164 1 11,164 NetGear common 64111Q104 17,033,324 446,600 SH 446,600 1 446,600 Vanceinfo Technologies Inc ADR common 921564100 8,700,266 1,112,566 SH 1,112,566 1 1,112,566 Ocean Rig UDW Inc. common Y64354205 1,493,490 91,569 SH 91,569 1 91,569 Vishay Intertechnology Inc common 928298108 3,452,296 351,200 SH 351,200 1 351,200 ADA-ES Inc common 005208103 2,834,026 120,035 SH 120,035 1 120,035 Carbo Ceramics Inc common 140781105 2,598,596 41,300 SH 41,300 1 41,300 Altra Holdings Inc common 02208R106 2,243,660 123,278 SH 123,278 1 123,278 Cobalt International Energy Inc common 19075F106 256,439 11,515 SH 11,515 1 11,515 Delphi Automotive PLC common 00B783TY6 12,117,900 390,900 SH 390,900 1 390,900 Bank of America Corporation common 060505104 2,885,026 326,730 SH 326,730 1 326,730 CA Inc. common 12673P105 1,080,764 41,947 SH 41,947 1 41,947 Dow Chemical common 260543103 2,173,969 75,068 SH 75,068 1 75,068 Life Technologies Corp. common 53217V109 1,290,725 26,406 SH 26,406 1 26,406 McDonald's Corporation common 580135101 6,047,518 65,913 SH 65,913 1 65,913 Procter and Gamble Company common 742718109 15,750,408 227,082 SH 227,082 1 227,082 Target Corporation common 87612E106 2,537,531 39,980 SH 39,980 1 39,980 United Parcel Service Inc common 911312106 2,920,271 40,803 SH 40,803 1 40,803 PNC Financial Services Group common 693475105 49,733,716 788,173 SH 788,173 1 788,173 America Movil ADR common 02364W105 4,914,474 193,179 SH 193,179 1 193,179 Cemex S.A.B. de C.V. ADR common 151290889 2,414,017 289,798 SH 289,798 1 289,798 CSX Corp common 126408103 1,607,378 77,464 SH 77,464 1 77,464 Viacom CL B common 92553P201 1,699,553 31,714 SH 31,714 1 31,714 Lowe's Cos Inc common 548661107 2,415,874 79,890 SH 79,890 1 79,890 FuelCell Energy Inc common 35952H106 4,921,947 5,561,522 SH 5,561,522 1 5,561,522

(GRAPHIC) ASSET MANAGEMENT 13F US Government report 9/30/2012

ITEM 6: INVESTMENT DISCRETION ITEM 8: ITEM 2 ITEM 4 SHARED ITEM 7 VOTING AUTHORITY ITEM 1 TITLE OF ITEM 3 MARKET ITEM 5 SH/ PUT/ SOLE SHARED OTHER OTHER SOLE SHARED NONE NAME OF ISSUER CLASS CUSIP VALUE VOLUME PRN CALL (A) (B) (C) Managers (A) (B) (C) Hologic Inc. common 436440101 1,734,669 85,705 SH 85,705 1 85,705 Schlumberger Ltd common 806857108 8,559,026 118,333 SH 118,333 1 118,333 Tyson Foods common 902494103 3,310,661 206,658 SH 206,658 1 206,658 Entergy Corporation common 29364G103 932,432 13,455 SH 13,455 1 13,455 Whirlpool Corp common 963320106 2,976,220 35,897 SH 35,897 1 35,897 Dun and Bradstreet common 26483E100 2,539,719 31,898 SH 31,898 1 31,898 General Cable Corp common 369300108 21,130,862 719,716 SH 719,716 1 719,716 Starbucks Corp common 855244109 906,750 17,867 SH 17,867 1 17,867 URS Corp common 903236107 1,635,206 46,310 SH 46,310 1 46,310 Quanta Services Inc common 74762E102 3,772,653 152,739 SH 152,739 1 152,739 Shinhan Financial Group Co Ltd ADR common 824596100 688,556 10,254 SH 10,254 1 10,254 MYR Group Inc common 55405W104 1,457,008 73,033 SH 73,033 1 73,033 Rentech Inc common 760112102 526,565 214,051 SH 214,051 1 214,051 Delta Air Lines Inc common 247361702 848,042 92,581 SH 92,581 1 92,581 Southern Company common 842587107 479,613 10,406 SH 10,406 1 10,406 Constellation Brands A common 21036P108 343,783 10,627 SH 10,627 1 10,627 Molycorp Inc common 608753109 14,084,050 1,224,700 SH 1,224,700 1 1,224,700 Compania de Minas Buenaventura SA ADR common 204448104 436,235 11,197 SH 11,197 1 11,197 Hexcel Corp common 428291108 6,052,681 252,090 SH 252,090 1 252,090 iSoftStone Holdings Ltd ADR common 46489B108 5,597,012 1,050,096 SH 1,050,096 1 1,050,096 Rowan Cos Plc common 00B6SLMV1 3,915,091 115,934 SH 115,934 1 115,934 Sprint Nextel Corp common 852061100 1,146,040 207,616 SH 207,616 1 207,616 Time Warner Inc common 887317303 57,505,230 1,268,591 SH 1,268,591 1 1,268,591 Coca Cola Company common 191216100 51,209,369 1,350,102 SH 1,350,102 1 1,350,102 General Electric Company common 369604103 80,295,679 3,535,697 SH 3,535,697 1 3,535,697 JPMorgan Chase & Co common 46625H100 26,800,067 662,057 SH 662,057 1 662,057 Johnson & Johnson common 478160104 14,810,068 214,919 SH 214,919 1 214,919 Apache Corporation common 037411105 22,782,856 263,477 SH 263,477 1 263,477 Activision Blizzard Inc common 00507V109 55,900,567 4,955,724 SH 4,955,724 1 4,955,724 Avon Products Inc common 054303102 24,550,352 1,539,207 SH 1,539,207 1 1,539,207 Mattel common 577081102 32,968,974 929,227 SH 929,227 1 929,227 Hewlett Packard Company common 428236103 12,496,143 732,482 SH 732,482 1 732,482 American International Group Inc common 026874784 1,836,043 55,994 SH 55,994 1 55,994 FedEx Corporation common 31428X106 1,791,321 21,169 SH 21,169 1 21,169 3M Company common 88579Y101 2,205,696 23,866 SH 23,866 1 23,866 Parker Hannifin Corp common 701094104 5,324,798 63,709 SH 63,709 1 63,709 Nvidia Corp common 67066G104 262,371 19,668 SH 19,668 1 19,668 Cia Vale Do Rio Doce ADR common 91912E105 2,098,399 117,229 SH 117,229 1 117,229 Zimmer Holdings common 98956P102 41,365,250 611,731 SH 611,731 1 611,731 Ford Motor Company common 345370860 1,795,812 182,131 SH 182,131 1 182,131 Walgreen Co common 931422109 2,640,479 72,461 SH 72,461 1 72,461 Norfolk Southern Corporation common 655844108 1,561,671 24,543 SH 24,543 1 24,543 PG and E Corp common 69331C108 1,245,196 29,182 SH 29,182 1 29,182 Caterpillar Inc common 149123101 1,832,394 21,297 SH 21,297 1 21,297 Adobe Systems Inc common 00724F101 767,517 23,645 SH 23,645 1 23,645 CTC Media Inc common 12642X106 217,082 23,829 SH 23,829 1 23,829 Ameritrade holding corp common 87236Y108 18,757,256 1,220,381 SH 1,220,381 1 1,220,381 Ares Capital common 04010L103 883,293 51,534 SH 51,534 1 51,534 Juniper Networks common 48203R104 391,665 22,891 SH 22,891 1 22,891 Family Dollar Stores Inc common 307000109 3,141,228 47,379 SH 47,379 1 47,379 Fluor Corp common 343412102 1,519,841 27,005 SH 27,005 1 27,005 Ameriprise Financial common 03076C106 1,433,350 25,284 SH 25,284 1 25,284 Liberty Global Inc common 530555101 4,330,564 71,285 SH 71,285 1 71,285 Duke Energy Corporation common 26441C204 3,318,732 51,215 SH 51,215 1 51,215 GT Advanced Technologies Inc common 36191U106 28,985,394 5,318,421 SH 5,318,421 1 5,318,421 NRG Energy Inc common 629377508 397,020 18,561 SH 18,561 1 18,561 NASDAQ OMX Group Inc common 631103108 346,490 14,874 SH 14,874 1 14,874 KeyCorp common 493267108 452,627 51,788 SH 51,788 1 51,788 Regions Financial Corporation common 7591EP100 514,008 71,291 SH 71,291 1 71,291 Alcoa Inc common 013817101 321,919 36,375 SH 36,375 1 36,375 Occidental Petroleum Corporation common 674599105 1,206,819 14,023 SH 14,023 1 14,023 American Water Works Co Inc common 030420103 2,143,106 57,828 SH 57,828 1 57,828 HiSoft Technology International Ltd ADR common 43358R108 20,356,288 1,970,599 SH 1,970,599 1 1,970,599 American Express common 025816109 731,447 12,864 SH 12,864 1 12,864 Genon Energy Inc common 37244E107 810,106 320,200 SH 320,200 1 320,200 Renewable Energy Group Inc common 75972A301 17,088,784 2,569,742 SH 2,569,742 1 2,569,742 AeroVironment Inc common 008073108 1,770,812 75,450 SH 75,450 1 75,450 AT&T Inc common 00206R102 13,363,481 354,469 SH 354,469 1 354,469 Verizon Communications Inc common 92343V104 1,583,740 34,754 SH 34,754 1 34,754 Pfizer Inc common 717081103 69,288,584 2,788,273 SH 2,788,273 1 2,788,273 Dell Inc common 24702R101 71,699,593 7,271,764 SH 7,271,764 1 7,271,764 Emerson Electric common 291011104 21,364,543 442,605 SH 442,605 1 442,605 Exxon Mobil Corporation common 30231G102 122,639,846 1,341,059 SH 1,341,059 1 1,341,059 Merck & Company common 58933Y105 66,369,972 1,471,618 SH 1,471,618 1 1,471,618 Eli Lilly & Co common 532457108 2,277,434 48,037 SH 48,037 1 48,037 Medtronic Inc common 585055106 4,030,814 93,479 SH 93,479 1 93,479 Edison International common 281020107 23,999,404 525,266 SH 525,266 1 525,266 Apple Inc common 037833100 66,269,594 99,316 SH 99,316 1 99,316 Express Scripts Holding Co common 30219G108 7,522,781 120,038 SH 120,038 1 120,038 DIRECTV common 25490A309 4,892,525 93,262 SH 93,262 1 93,262 Applied Material Inc common 038222105 527,010 47,202 SH 47,202 1 47,202 CenterPoint Energy Inc common 15189T107 835,237 39,213 SH 39,213 1 39,213 EI Du Pont de Nemours & Co common 263534109 3,221,754 64,089 SH 64,089 1 64,089 Darden Restaurants Inc common 237194105 3,725,940 66,833 SH 66,833 1 66,833 Liberty Global Inc - C common 530555309 1,805,045 31,993 SH 31,993 1 31,993 Sealed Air Corp common 81211K100 3,371,501 218,079 SH 218,079 1 218,079 Newfield Exploration Co common 651290108 1,165,010 37,197 SH 37,197 1 37,197 Garmin common 011440532 2,883,357 69,079 SH 69,079 1 69,079 Pitney Bowes Ic common 724479100 1,918,188 138,798 SH 138,798 1 138,798 TE Connectivity Ltd common 010299318 408,154 12,001 SH 12,001 1 12,001 Xerox Corp common 984121103 600,111 81,759 SH 81,759 1 81,759 Noble Corp common 003334731 1,408,050 39,353 SH 39,353 1 39,353 Annaly Capital Management Inc common 035710409 1,342,973 79,749 SH 79,749 1 79,749

(GRAPHIC) ASSET MANAGEMENT 13F US Government report 9/30/2012

ITEM 6: INVESTMENT DISCRETION ITEM 8: ITEM 2 ITEM 4 SHARED ITEM 7 VOTING AUTHORITY ITEM 1 TITLE OF ITEM 3 MARKET ITEM 5 SH/ PUT/ SOLE SHARED OTHER OTHER SOLE SHARED NONE NAME OF ISSUER CLASS CUSIP VALUE VOLUME PRN CALL (A) (B) (C) Managers (A) (B) (C) Exide Technologies common 302051206 11,891,907 3,836,099 SH 3,836,099 1 3,836,099 Cognizant Tech Solutions common 192446102 1,212,692 17,344 SH 17,344 1 17,344 Ameren Corporation common 023608102 697,014 21,335 SH 21,335 1 21,335 Polypore International Inc common 73179V103 3,619,023 102,319 SH 102,319 1 102,319 KT Corp Sp ADR common 48268K101 538,516 34,432 SH 34,432 1 34,432 CBS Class B common 124857202 492,707 13,562 SH 13,562 1 13,562 BanColombia SA ADR common 05968L102 1,105,531 18,515 SH 18,515 1 18,515 Covidien Plc common 00B68SQD2 1,782,541 29,999 SH 29,999 1 29,999 Intuit Inc common 461202103 766,794 13,023 SH 13,023 1 13,023 Watson Pharmaceuticals Inc common 942683103 1,498,135 17,592 SH 17,592 1 17,592 Alexion Pharmaceuticals Inc common 015351109 1,430,915 12,508 SH 12,508 1 12,508 Franklin Resources Inc common 354613101 29,707,002 237,523 SH 237,523 1 237,523 US Bancorp common 902973304 937,488 27,332 SH 27,332 1 27,332 Lincoln National Corp common 534187109 349,546 14,450 SH 14,450 1 14,450 HCA Holdings Inc common 40412C101 1,490,165 44,817 SH 44,817 1 44,817 Darling International Inc common 237266101 645,399 35,287 SH 35,287 1 35,287 ABB Ltd common 000375204 6,063,475 324,250 SH 324,250 1 324,250 Basic Energy Services Inc common 06985P100 408,408 36,400 SH 36,400 1 36,400 Cardinal Health Inc common 14149Y108 31,712,695 813,772 SH 813,772 1 813,772 UnitedHealth Group Incorporated common 91324P102 38,495,156 694,733 SH 694,733 1 694,733 Yahoo! Inc common 984332106 61,347,323 3,840,208 SH 3,840,208 1 3,840,208 Carnival Corporation common 143658300 40,540,630 1,112,531 SH 1,112,531 1 1,112,531 Walt Disney Company common 254687106 6,573,687 125,740 SH 125,740 1 125,740 Bank of New York Mellon Corp/T common 064058100 1,935,820 85,580 SH 85,580 1 85,580 BMC Software common 055921100 961,614 23,177 SH 23,177 1 23,177 Broadcom Corp common 111320107 584,229 16,895 SH 16,895 1 16,895 Home Depot Inc common 437076102 5,080,437 84,155 SH 84,155 1 84,155 Illinois Tool Works common 452308109 791,962 13,317 SH 13,317 1 13,317 Marathon Oil Corporation common 565849106 4,376,626 148,009 SH 148,009 1 148,009 Virgin Media common 92769L101 1,287,028 43,717 SH 43,717 1 43,717 Stryker Corporation common 863667101 2,500,637 44,927 SH 44,927 1 44,927 Hess Corp common 42809H107 7,164,905 133,375 SH 133,375 1 133,375 American Capital Ltd common 02503Y103 1,051,399 92,716 SH 92,716 1 92,716 The Blackstone Group LP common 09253U108 1,366,864 95,853 SH 95,853 1 95,853 02Micro International Ltd ADR common 67107W100 9,351,021 2,500,273 SH 2,500,273 1 2,500,273 SLM Corporation common 78442P106 1,127,753 71,740 SH 71,740 1 71,740 Veeco Instruments. Inc. common 922417100 33,042,444 1,100,681 SH 1,100,681 1 1,100,681 Plains Exploration & Production Co common 726505100 2,569,842 68,584 SH 68,584 1 68,584 Mosaic Co common 61945C103 42,907,986 744,801 SH 744,801 1 744,801 Royal Caribbean Cruises Ltd common 000886286 3,051,995 101,026 SH 101,026 1 101,026 Cameron International common 13342B105 5,508,485 98,243 SH 98,243 1 98,243 RenaissanceRe Holdings common G7496G103 30,557,377 396,643 SH 396,643 1 396,643 EnerSys common 29275Y102 2,658,090 75,300 SH 75,300 1 75,300 International Flavors and Fragrances common 459506101 28,902,020 485,096 SH 485,096 1 485,096 Symantec Corp common 871503108 1,152,594 64,033 SH 64,033 1 64,033 Everest Re Group Ltd common G3223R108 1,324,379 12,382 SH 12,382 1 12,382 Hercules Technology Growth Capital Inc common 427096508 231,429 21,039 SH 21,039 1 21,039 TICC Capital Corp common 87244T109 239,689 23,047 SH 23,047 1 23,047 Loews Corp common 540424108 424,689 10,293 SH 10,293 1 10,293 MetroPCS Communications Inc common 591708102 239,247 20,431 SH 20,431 1 20,431 STR Holdings Inc(New) common 78478V100 1,435,308 464,501 SH 464,501 1 464,501 Limited Brands common 532716107 534,372 10,848 SH 10,848 1 10,848 General Mills common 370334104 455,645 11,434 SH 11,434 1 11,434 ICICI Bank ADR common 45104G104 522,543 13,018 SH 13,018 1 13,018 Gran Tierra Energy Inc common 38500T101 538,175 104,500 SH 104,500 1 104,500 Yandex NV common 000980552 1,477,292 61,273 SH 61,273 1 61,273 Comerica Corporated common 200340107 434,576 13,996 SH 13,996 1 13,996 Discover Financial Services common 254709108 723,682 18,215 SH 18,215 1 18,215 Sirius XM Radio Inc common 82967N108 1,349,439 519,015 SH 519,015 1 519,015 Marathon Petr common 56585A102 1,990,024 36,454 SH 36,454 1 36,454 Oasis Petroleum Inc common 674215108 943,950 32,020 SH 32,020 1 32,020 Kinder Morgan Inc common 49456B101 454,620 12,799 SH 12,799 1 12,799 Camelot Information Systems Inc ADR common 13322V105 2,923,748 1,633,379 SH 1,633,379 1 1,633,379 Phillips 66 common 718546104 6,012,798 129,670 SH 129,670 1 129,670