The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AGNICO EAGLE MINES LTD COM 008474108 1,460 40,000 SH   SOLE   40,000 0 0
AGRIUM INC COM 008916108 2,409 27,000 SH   SOLE   27,000 0 0
BCE INC COM NEW 05534B760 8,226 180,000 SH   SOLE   180,000 0 0
BANK OF MONTREAL COM 063671101 8,535 140,000 SH   SOLE   140,000 0 0
BANK OF NOVA SCOTIA COM 064149107 10,309 210,000 SH   SOLE   210,000 0 0
BARRICK GOLD CORP COM 067901108 3,166 231,000 SH   SOLE   231,000 0 0
BLACKBERRY LTD COM 09228F103 685 85,000 SH   SOLE   85,000 0 0
BROOKFIELD ASSET MANAGE CL A LTD VT SH 112585104 6,604 190,000 SH   SOLE   190,000 0 0
CAN IMPERIAL BK OF COMMERCE COM 136069101 5,624 75,000 SH   SOLE   75,000 0 0
CANADIAN NATL RAILWAY CO COM 136375102 10,866 172,900 SH   SOLE   172,900 0 0
CANADIAN NATURAL RESOURCES COM 136385101 5,437 200,000 SH   SOLE   200,000 0 0
CANADIAN PACIFIC RAILWAY LTD COM 13645T100 2,725 20,500 SH   SOLE   20,500 0 0
CENOVUS ENERGY INC COM 15135U109 2,297 175,000 SH   SOLE   175,000 0 0
CRESCENT POINT ENERGY COM 22576C101 1,138 82,000 SH   SOLE   82,000 0 0
ENCANA CORP COM 292505104 923 150,000 SH   SOLE   150,000 0 0
ENBRIDGE INC COM 29250N105 6,195 158,500 SH   SOLE   158,500 0 0
FRANCO NEVADA CORP COM 351858105 2,032 33,000 SH   SOLE   33,000 0 0
GILDAN ACTIVEWEAR INC COM 375916103 1,223 40,000 SH   SOLE   40,000 0 0
GOLDCORP INC COM 380956409 4,425 270,000 SH   SOLE   270,000 0 0
CGI GROUP INC CL A SUB VTG 39945C109 2,646 55,000 SH   SOLE   55,000 0 0
IMPERIAL OIL LTD COM NEW 453038408 1,572 47,000 SH   SOLE   47,000 0 0
MAGNA INTERNATIONAL INC COM 559222401 3,211 74,000 SH   SOLE   74,000 0 0
PEMBINA PIPELINE CORP COM 706327103 948 35,000 SH   SOLE   35,000 0 0
POTASH CORP OF SASKATCHEWAN COM 73755L107 1,628 95,000 SH   SOLE   95,000 0 0
RESTAURANT BRANDS INTL INC COM 76131D103 1,556 40,000 SH   SOLE   40,000 0 0
ROGERS COMMUNICATIONS INC CL B 775109200 2,823 70,000 SH   SOLE   70,000 0 0
ROYAL BANK OF CANADA COM 780087102 16,488 284,000 SH   SOLE   284,000 0 0
SHAW COMMUNICATIONS INC CL B CONV 82028K200 1,457 75,000 SH   SOLE   75,000 0 0
SILVER WHEATON CORP COM 828336107 1,339 80,000 SH   SOLE   80,000 0 0
SUNCOR ENERGY INC COM 867224107 9,554 342,400 SH   SOLE   342,400 0 0
TECK RESOURCES LTD CL B 878742204 784 100,000 SH   SOLE   100,000 0 0
TELUS CORP COM 87971M103 2,778 85,000 SH   SOLE   85,000 0 0
THOMSON REUTERS CORP COM 884903105 1,622 40,000 SH   SOLE   40,000 0 0
TORONTO-DOMINION BANK COM NEW 891160509 16,801 388,200 SH   SOLE   388,200 0 0
TRANSCANADA CORP COM 89353D107 4,170 105,000 SH   SOLE   105,000 0 0
LOGITECH INTL S A SHS H50430232 6,216 395,218 SH   SOLE   395,218 0 0
TRANSOCEAN LTD REG SHS H8817H100 7,287 804,308 SH   SOLE   804,308 0 0
UBS AG SHS NEW H42097107 29,543 1,826,465 SH   SOLE   1,826,465 0 0
DEUTSCHE BANK AG-REGISTERED NAMEN AKT D18190898 102,430 6,004,418 SH   SOLE   6,004,418 0 0
ENSCO PLC CL. A DL -,10 SHS CLASS A G3157S106 8,566 824,430 SH   SOLE   824,430 0 0
SEAGATE TECHNOLOGY PLC SHS G7945M107 4,452 129,655 SH   SOLE   129,655 0 0
INGERSOLL-RAND PLC SHS G47791101 304 4,900 SH   SOLE   4,900 0 0
EATON CORP PLC SHS G29183103 3,407 54,537 SH   SOLE   54,537 0 0
MALLINCKRODT PUB LTD CO SHS G5785G107 2,804 45,677 SH   SOLE   45,677 0 0
MEDTRONIC PLC SHS G5960L103 3,467 46,096 SH   SOLE   46,096 0 0
QIAGEN N.V. REG SHS N72482107 5,625 252,813 SH   SOLE   252,813 0 0
CNH INDUSTRIAL NV SHS N20944109 204 30,000 SH   SOLE   30,000 0 0
FIAT CHRYSLER AUTOMOBILES SHS N31738102 733 90,938 SH   SOLE   90,938 0 0
MYLAN N.V. EO -,01 SHS EURO N59465109 3,208 68,967 SH   SOLE   68,967 0 0
CARNIVAL CORP PAIRED CTF 143658300 18,595 352,719 SH   SOLE   352,719 0 0
AT&T INC COM 00206R102 45,100 1,151,688 SH   SOLE   1,151,688 0 0
AU OPTRONICS CORP. ADR/10 SPONSORED ADR 002255107 119 40,000 SH   SOLE   40,000 0 0
ABBOTT LABORATORIES COM 002824100 571 13,600 SH   SOLE   13,600 0 0
ABBVIE INC COM 00287Y109 14,372 250,924 SH   SOLE   250,924 0 0
ACTIVISION BLIZZARD INC COM 00507V109 5,186 152,471 SH   SOLE   152,471 0 0
AGILENT TECHNOLOGIES INC COM 00846U101 100 2,500 SH   SOLE   2,500 0 0
AIR PROD. CHEM. DL 1 COM 009158106 361 2,500 SH   SOLE   2,500 0 0
AKAMAI TECHNOLOGIES INC COM 00971T101 3,003 53,984 SH   SOLE   53,984 0 0
ALCOA INC COM 013817101 4,117 429,720 SH   SOLE   429,720 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 3,141 39,500 SH   SOLE   39,500 0 0
ALPHABET INC CAP STK CL C 02079K107 14,569 19,605 SH   SOLE   19,605 0 0
ALTRIA GROUP INC COM 02209S103 36,127 574,904 SH   SOLE   574,904 0 0
AMBEV SA SPONSORED ADR 02319V103 1,426 275,000 SH   SOLE   275,000 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 22,066 534,664 SH   SOLE   534,664 0 0
AMGEN INC COM 031162100 7,739 51,486 SH   SOLE   51,486 0 0
APPLE INC COM 037833100 40,255 368,936 SH   SOLE   368,936 0 0
AUTODESK INC. COM 052769106 12,358 212,254 SH   SOLE   212,254 0 0
AVALONBAY CMNTYS INC COM 053484101 5,765 30,500 SH   SOLE   30,500 0 0
BAIDU INC SPON ADR REP A 056752108 2,132 11,100 SH   SOLE   11,100 0 0
BAKER HUGHES INC COM 057224107 321 7,400 SH   SOLE   7,400 0 0
BANK OF AMERICA CORP COM 060505104 7,442 549,114 SH   SOLE   549,114 0 0
BANK NEW YORK MELLON CORP COM 064058100 22,239 600,888 SH   SOLE   600,888 0 0
BAXALTA INC. DL -,01 COM 07177M103 317 7,800 SH   SOLE   7,800 0 0
BAXTER INTERNATIONAL INC COM 071813109 22,070 535,534 SH   SOLE   535,534 0 0
BIOGEN IDEC INC. COM 09062X103 7,579 29,075 SH   SOLE   29,075 0 0
BOEING CO COM 097023105 18,041 142,042 SH   SOLE   142,042 0 0
BOSTON PROPERTIES INC COM 101121101 26,269 207,854 SH   SOLE   207,854 0 0
BRF SA SPONSORED ADR 10552T107 1,729 120,000 SH   SOLE   120,000 0 0
BRISTOL MYERS SQUIBB CO DBCV 110122108 10,319 161,736 SH   SOLE   161,736 0 0
CSRA INC COM 12650T104 2,928 109,245 SH   SOLE   109,245 0 0
CVS HEALTH CORP COM 126650100 3,293 31,735 SH   SOLE   31,735 0 0
CA INC COM 12673P105 8,422 272,016 SH   SOLE   272,016 0 0
CABOT OIL & GAS CORP COM 127097103 5,226 230,322 SH   SOLE   230,322 0 0
CAMPBELL SOUP CO COM 134429109 16,555 259,733 SH   SOLE   259,733 0 0
CAPITAL ONE FINL CORP COM 14040H105 18,836 271,249 SH   SOLE   271,249 0 0
CARDINAL HEALTH INC COM 14149Y108 14,701 179,326 SH   SOLE   179,326 0 0
CATERPILLAR INC COM 149123101 183 2,400 SH   SOLE   2,400 0 0
CHURCH & DWIGHT INC COM 171340102 3,158 34,374 SH   SOLE   34,374 0 0
CISCO SYSTEMS INC COM 17275R102 1,050 37,000 SH   SOLE   37,000 0 0
CINTAS CORP COM 172908105 9,411 104,975 SH   SOLE   104,975 0 0
CITIGROUP INC COM NEW 172967424 4,667 111,143 SH   SOLE   111,143 0 0
CLOROX CO DEL COM 189054109 3,164 25,139 SH   SOLE   25,139 0 0
COCA-COLA CO/THE COM 191216100 9,704 208,815 SH   SOLE   208,815 0 0
COCA-COLA ENTERPR. DL 1 COM 19122T109 102 2,000 SH   SOLE   2,000 0 0
COLGATE-PALMOLIVE CO COM 194162103 396 5,600 SH   SOLE   5,600 0 0
COMCAST CORP NEW CL A 20030N101 18,833 308,133 SH   SOLE   308,133 0 0
CIA EN.GER.ADR PFD NV 1 SPONS ADR 204409601 487 211,593 SH   SOLE   211,593 0 0
COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102 399 60,000 SH   SOLE   60,000 0 0
CONSTELLATION BRANDS INC CL A 21036P108 10,083 66,851 SH   SOLE   66,851 0 0
CTRIP COM INTL LTD AMERICAN DEP SHS 22943F100 506 11,400 SH   SOLE   11,400 0 0
DENTSPLY SIRONA INC COM 24906P109 3,002 48,426 SH   SOLE   48,426 0 0
DEVON ENERGY CORP NEW COM 25179M103 6,697 245,755 SH   SOLE   245,755 0 0
DIAMOND OFFSHORE DRILLING COM 25271C102 8,297 383,054 SH   SOLE   383,054 0 0
DISNEY WALT CO COM 254687106 3,449 34,730 SH   SOLE   34,730 0 0
DISCOVERY COMMUNICATNS NEW COM SER A 25470F104 3,168 117,594 SH   SOLE   117,594 0 0
DOUGLAS EMMETT DL -,01 COM 25960P109 6,076 201,660 SH   SOLE   201,660 0 0
DOVER CORP COM 260003108 10,974 171,223 SH   SOLE   171,223 0 0
DOW CHEM CO COM 260543103 587 11,500 SH   SOLE   11,500 0 0
DR PEPPER SNAPPLE GROUP INC COM 26138E109 3,521 39,308 SH   SOLE   39,308 0 0
EBAY INC COM 278642103 24,528 1,025,832 SH   SOLE   1,025,832 0 0
ECOPETROL SA SPONSORED ADS 279158109 17 2,000 SH   SOLE   2,000 0 0
EDWARDS LIFESCIENCES CORP COM 28176E108 12,113 137,120 SH   SOLE   137,120 0 0
EL. ARTS INC. DL-,01 COM 285512109 8,555 128,939 SH   SOLE   128,939 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 5,205 69,500 SH   SOLE   69,500 0 0
ESSEX PPTY TR INC COM 297178105 8,288 35,550 SH   SOLE   35,550 0 0
EXELON CORP. COM 30161N101 19,927 558,647 SH   SOLE   558,647 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 9,377 136,908 SH   SOLE   136,908 0 0
EXXON MOBIL CORP. O.N. COM 30231G102 27,977 331,716 SH   SOLE   331,716 0 0
FACEBOOK INC CL A 30303M102 28,856 252,860 SH   SOLE   252,860 0 0
58 COM INC SPON ADR REP A 31680Q104 156 2,800 SH   SOLE   2,800 0 0
FIRST SOLAR INC COM 336433107 2,952 43,088 SH   SOLE   43,088 0 0
FLUOR CORP NEW COM 343412102 12,614 235,600 SH   SOLE   235,600 0 0
FOUR CORNERS PPTY TR INC COM 35086T109 639 35,219 SH   SOLE   35,219 0 0
GAP INC. COM 364760108 3,380 329,712 SH   SOLE   329,712 0 0
Genl El. Co. Dl -,06 COM 369604103 18,248 571,513 SH   SOLE   571,513 0 0
GENERAL MTRS CO COM 37045V100 10,218 323,859 SH   SOLE   323,859 0 0
GILEAD SCIENCES INC COM 375558103 29,080 314,621 SH   SOLE   314,621 0 0
HCA HOLDINGS INC COM 40412C101 3,213 41,186 SH   SOLE   41,186 0 0
HP INC COM 40434L105 3,844 313,295 SH   SOLE   313,295 0 0
HALLIBURTON CO COM 406216101 250 7,000 SH   SOLE   7,000 0 0
HELMERICH & PAYNE INC COM 423452101 5,247 89,122 SH   SOLE   89,122 0 0
HERSHEY CO/THE COM 427866108 64 700 SH   SOLE   700 0 0
HEWLETT-PACKARD CO COM 428236103 19,029 1,070,205 SH   SOLE   1,070,205 0 0
HOME DEPOT INC COM 437076102 32,223 241,333 SH   SOLE   241,333 0 0
HONEYWELL INTL INC COM 438516106 15,484 138,005 SH   SOLE   138,005 0 0
HOST HOTELS & RESORTS INC COM 44107P104 7,569 456,797 SH   SOLE   456,797 0 0
HUMANA INC COM 444859102 624 3,400 SH   SOLE   3,400 0 0
ILLINOIS TOOL WKS INC COM 452308109 22,835 223,024 SH   SOLE   223,024 0 0
INTEL CORP COM 458140100 14,789 456,539 SH   SOLE   456,539 0 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 4,149 17,748 SH   SOLE   17,748 0 0
INTL BUSINESS MACHINES CORP COM 459200101 227 1,500 SH   SOLE   1,500 0 0
ITAU UNIBANCO HLDNG SPON ADR REP PFD 465562106 368 42,325 SH   SOLE   42,325 0 0
JPMORGAN CHASE & CO COM 46625H100 24,686 414,481 SH   SOLE   414,481 0 0
JD COM INC SPON ADR CL A 47215P106 364 13,600 SH   SOLE   13,600 0 0
JOHNSON & JOHNSON COM 478160104 46,053 425,274 SH   SOLE   425,274 0 0
JOHNSON CONTROLS INC COM 478366107 378 9,700 SH   SOLE   9,700 0 0
KILROY REALTY CORP.DL-,01 COM 49427F108 7,762 126,000 SH   SOLE   126,000 0 0
KIMBERLY-CLARK DL 1,25 COM 494368103 15,621 116,041 SH   SOLE   116,041 0 0
KIMCO RLTY CORP COM 49446R109 6,527 228,292 SH   SOLE   228,292 0 0
KRAFT HEINZ CO COM 500754106 3,046 38,822 SH   SOLE   38,822 0 0
KROGER CO COM 501044101 5,012 131,113 SH   SOLE   131,113 0 0
L-3 COMMUNICATIONS HLDGS INC COM 502424104 3,851 32,391 SH   SOLE   32,391 0 0
LAM RESEARCH CORP COM 512807108 13,100 158,246 SH   SOLE   158,246 0 0
LEGGETT & PLATT INC COM 524660107 3,225 66,890 SH   SOLE   66,890 0 0
LINEAR TECHNOLOGY CORP COM 535678106 8,464 190,034 SH   SOLE   190,034 0 0
MARATHON OIL CORP COM 565849106 9,627 862,668 SH   SOLE   862,668 0 0
MCDONALD'S CORP COM 580135101 7,279 57,737 SH   SOLE   57,737 0 0
MCKESSON CORP COM 58155Q103 10,250 64,627 SH   SOLE   64,627 0 0
MELCO CROWN ENTMT LTD ADR 585464100 799 48,000 SH   SOLE   48,000 0 0
MERCK & CO. INC. COM 58933Y105 11,367 213,313 SH   SOLE   213,313 0 0
MICROSOFT CORP COM 594918104 24,615 446,685 SH   SOLE   446,685 0 0
MICRON TECHNOLOGY INC COM 595112103 2,599 254,765 SH   SOLE   254,765 0 0
MOBILE TELESYSTEMS OJSC SPONSORED ADR 607409109 784 96,999 SH   SOLE   96,999 0 0
MONDELEZ INTERNATIONAL INC CL A 609207105 505 12,500 SH   SOLE   12,500 0 0
MOTOROLA SOLUTIONS INC COM NEW 620076307 12,281 162,642 SH   SOLE   162,642 0 0
MURPHY OIL CORP COM 626717102 5,327 211,984 SH   SOLE   211,984 0 0
NASDAQ INC COM 631103108 9,649 145,116 SH   SOLE   145,116 0 0
NATIONAL RETAIL PPTYS COM 637417106 6,636 143,000 SH   SOLE   143,000 0 0
NETEASE INC SPONSORED ADR 64110W102 430 3,000 SH   SOLE   3,000 0 0
NEWMONT MINING CORP COM 651639106 9,855 370,180 SH   SOLE   370,180 0 0
NEWS CORP NEW CL A 65249B109 3,694 289,080 SH   SOLE   289,080 0 0
NEXTERA ENERGY INC COM 65339F101 6,040 51,129 SH   SOLE   51,129 0 0
NORTHROP GRUMMAN CORP COM 666807102 3,490 17,584 SH   SOLE   17,584 0 0
NVIDIA CORP COM 67066G104 13,996 395,806 SH   SOLE   395,806 0 0
O REILLY AUTOMOTIVE INC COM 67103H107 23,290 84,921 SH   SOLE   84,921 0 0
OMNICOM GRP INC. DL-,15 COM 681919106 9,137 109,647 SH   SOLE   109,647 0 0
ONEOK INC NEW COM 682680103 9,367 314,029 SH   SOLE   314,029 0 0
ORACLE CORP COM 68389X105 5,013 122,390 SH   SOLE   122,390 0 0
OWENS CORNING COM 690742101 118 2,500 SH   SOLE   2,500 0 0
PPG INDS INC COM 693506107 7,949 93,776 SH   SOLE   93,776 0 0
PPL CORP COM 69351T106 8,450 223,060 SH   SOLE   223,060 0 0
PVH CORP COM 693656100 3,465 35,151 SH   SOLE   35,151 0 0
PARAMOUNT GROUP INC COM 69924R108 7,544 474,600 SH   SOLE   474,600 0 0
PAYCHEX INC COM 704326107 15,881 293,871 SH   SOLE   293,871 0 0
PAYPAL HDGS INC.DL-,0001 COM 70450Y103 6,848 177,049 SH   SOLE   177,049 0 0
PEPSICO INC COM 713448108 514 5,000 SH   SOLE   5,000 0 0
PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101 218 47,000 SH   SOLE   47,000 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 1,587 270,000 SH   SOLE   270,000 0 0
PFIZER INC COM 717081103 240 8,000 SH   SOLE   8,000 0 0
PITNEY BOWES INC COM 724479100 4,029 187,827 SH   SOLE   187,827 0 0
PRAXAIR INC. DL-,01 COM 74005P104 713 6,200 SH   SOLE   6,200 0 0
PRICE T ROWE GROUP INC COM 74144T108 9,255 125,219 SH   SOLE   125,219 0 0
PROLOGIS INC COM 74340W103 6,946 157,600 SH   SOLE   157,600 0 0
PUBLIC SVC ENTERPRISE GROUP COM 744573106 13,740 292,647 SH   SOLE   292,647 0 0
PUBLIC STORAGE DL-,10 COM 74460D109 11,972 43,614 SH   SOLE   43,614 0 0
PULTE GROUP INC. DL -,01 COM 745867101 8,034 432,389 SH   SOLE   432,389 0 0
QIHOO 360 TECHNOLOGY CO LTD ADS 74734M109 288 3,800 SH   SOLE   3,800 0 0
QORVO INC COM 74736K101 3,246 64,220 SH   SOLE   64,220 0 0
QUANTA SVCS INC COM 74762E102 3,311 146,623 SH   SOLE   146,623 0 0
QUEST DIAGNOSTICS INC COM 74834L100 143 2,000 SH   SOLE   2,000 0 0
REALTY INCOME CORP COM 756109104 13,342 213,748 SH   SOLE   213,748 0 0
REYNOLDS AMERICAN INC. COM 761713106 3,111 61,527 SH   SOLE   61,527 0 0
ROCKWELL COLLINS INC COM 774341101 5,598 60,673 SH   SOLE   60,673 0 0
ROPER INDUSTRIES INC COM 776696106 12,820 70,000 SH   SOLE   70,000 0 0
ROSS STORES INC COM 778296103 19,547 336,325 SH   SOLE   336,325 0 0
RYDER SYS INC COM 783549108 5,177 79,898 SH   SOLE   79,898 0 0
SL GREEN REALTY DL-,01 COM 78440X101 5,139 53,500 SH   SOLE   53,500 0 0
SALESFORCE COM INC COM 79466L302 20,936 283,027 SH   SOLE   283,027 0 0
SEMPRA ENERGY COM 816851109 83 800 SH   SOLE   800 0 0
SIMON PPTY GROUP INC COM 828806109 7,590 36,608 SH   SOLE   36,608 0 0
Southw. Airl. Co. Dl 1 COM 844741108 14,652 325,606 SH   SOLE   325,606 0 0
SOUTHWESTERN ENERGY CO COM 845467109 4,812 593,369 SH   SOLE   593,369 0 0
STAPLES INC COM 855030102 171 15,500 SH   SOLE   15,500 0 0
STARBUCKS CORP COM 855244109 6,554 109,382 SH   SOLE   109,382 0 0
STRYKER CORP COM 863667101 3,257 30,333 SH   SOLE   30,333 0 0
SUNTRUST BKS INC COM 867914103 9,632 267,191 SH   SOLE   267,191 0 0
SYMANTEC CORP COM 871503108 348 19,000 SH   SOLE   19,000 0 0
SYNCHRONY FINL COM 87165B103 3,162 110,429 SH   SOLE   110,429 0 0
SYSCO CORP COM 871829107 4,677 100,122 SH   SOLE   100,122 0 0
TARGET CORP COM 87612E106 8,563 103,743 SH   SOLE   103,743 0 0
TAUBMAN CTRS INC COM 876664103 5,998 84,400 SH   SOLE   84,400 0 0
TEGNA INC COM 87901J105 2,978 127,108 SH   SOLE   127,108 0 0
TEXAS INSTRS INC COM 882508104 15,739 273,440 SH   SOLE   273,440 0 0
3M CO COM 88579Y101 250 1,500 SH   SOLE   1,500 0 0
ULTRAPAR PARTICIPACOES S A SP ADR REP COM 90400P101 1,171 60,000 SH   SOLE   60,000 0 0
UTD MICROELECTR.ADR NEW/5 SPON ADR NEW 910873405 168 80,000 SH   SOLE   80,000 0 0
UNITED PARCEL SERVICE CL B 911312106 602 5,700 SH   SOLE   5,700 0 0
UNITED TECHNOLOGIES CORP COM 913017109 5,322 53,129 SH   SOLE   53,129 0 0
UNITEDHEALTH GROUP INC COM 91324P102 31,113 241,305 SH   SOLE   241,305 0 0
VARIAN MED SYS INC COM 92220P105 5,612 70,277 SH   SOLE   70,277 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 24,859 460,189 SH   SOLE   460,189 0 0
VIACOM INC NEW CL B 92553P201 4,264 104,100 SH   SOLE   104,100 0 0
VORNADO RLTY TR SH BEN INT 929042109 14,553 154,687 SH   SOLE   154,687 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 6,734 79,880 SH   SOLE   79,880 0 0
WYNDHAM WORLDWIDE CORP COM 98310W108 8,513 110,945 SH   SOLE   110,945 0 0
XILINX INC COM 983919101 3,132 65,898 SH   SOLE   65,898 0 0
MICHAEL KORS HLDGS LTD SHS G60754101 2,972 73,884 SH   SOLE   73,884 0 0