0000922423-12-000043.txt : 20120209
0000922423-12-000043.hdr.sgml : 20120209
20120209091953
ACCESSION NUMBER: 0000922423-12-000043
CONFORMED SUBMISSION TYPE: 13F-HR
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20111231
FILED AS OF DATE: 20120209
DATE AS OF CHANGE: 20120209
EFFECTIVENESS DATE: 20120209
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: Investec Asset Management LTD
CENTRAL INDEX KEY: 0001418329
IRS NUMBER: 000000000
STATE OF INCORPORATION: X0
FISCAL YEAR END: 0331
FILING VALUES:
FORM TYPE: 13F-HR
SEC ACT: 1934 Act
SEC FILE NUMBER: 028-12634
FILM NUMBER: 12584566
BUSINESS ADDRESS:
STREET 1: 2 GRESHAM STREET
CITY: LONDON
STATE: X0
ZIP: EC2V 7QP
BUSINESS PHONE: 020 7597 2000
MAIL ADDRESS:
STREET 1: 2 GRESHAM STREET
CITY: LONDON
STATE: X0
ZIP: EC2V 7QP
13F-HR
1
kl01024.txt
13F HOLDING 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: 12/31/2011
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: Investec Asset Management LTD.
Address: 2 Gresham Street
London, England EC2V7QP
Form 13F File Number: 28-12634
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, and 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 the Reporting Manager:
Name: Anne Gallagher
Title: Chief Compliance Officer
Phone: 020 7597 1831
Signature, Place, and Date of Signing:
Anne Gallagher London, UK 01/30/12
[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 is a portion of the holdings for
this reporting manager are reported in this report and a portion are
reported by other reporting manager(s).)
FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 220
Form 13F Information Table Value Total: 9,971,784
(thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and 13F file number(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
[If there are no entries in this list, state "None" and omit the column headings
and list entries.]
None
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
VOTING AUTHORITY
SHARES ---------------------
FAIR MARKET AMOUNT (A) (B) (C)
TITLE CUSIP VALUE (IN PUT/CALL INVESTMENT OTHER
NAME OF ISSUER OF CLASS NUMBER (THOUSANDS) DISCRETION MANAGERS SOLE SHARED NONE
------------------------- -------- ------ ----------- -------- ---------- -------- ---- ------ ----
3M CO Common Stock 88579Y101 447 5475 SH SOLE 5,475
ACCENTURE PLC Common Stock G1151C101 10,914 205031 SH SOLE 205,031
ACTIVISION BLIZZARD INC Common Stock 00507V109 100,404 8149683 SH SOLE 8,149,683
ACTUANT CORP Common Stock 00508X203 33,553 1478771 SH SOLE 1,478,771
ADECOAGRO SA Common Stock L00849106 1,733 209600 SH SOLE 209,600
AGCO CORP Common Stock 001084102 35,201 819189 SH SOLE 819,189
AGNICO-EAGLE MINES LTD Common Stock 008474108 15,493 425792 SH SOLE 425,792
AGRIUM INC Common Stock 008916108 503 7500 SH SOLE 7,500
ALLIANCE DATA SYSTEMS CORP Common Stock 018581108 93,900 904274 SH SOLE 904,274
ALLIED WORLD ASSURANCE CO
HOLD Common Stock H01531104 83,396 1325226 SH SOLE 1,325,226
ALTERA CORP Common Stock 021441100 92,791 2501114 SH SOLE 2,501,114
ALTRIA GROUP INC Common Stock 02209S103 91,216 3076427 SH SOLE 3,076,427
AMEDISYS INC Common Stock 023436108 1,980 181500 SH SOLE 181,500
AMERICA MOVIL SAB DE CV ADR 02364W105 15,819 699956 SH SOLE 699,956
AMERICAN FINANCIAL GROUP
INC/O Common Stock 025932104 37,691 1021703 SH SOLE 1,021,703
AMERICAN WATER WORKS CO INC Common Stock 030420103 90,545 2841975 SH SOLE 2,841,975
AMERISOURCEBERGEN CORP Common Stock 03073E105 156,127 4198085 SH SOLE 4,198,085
ANGLOGOLD ASHANTI LTD ADR 035128206 45,430 1070197 SH SOLE 1,070,197
ANHEUSER-BUSCH INBEV NV ADR 03524A108 11,271 184800 SH SOLE 184,800
APACHE CORP Common Stock 037411105 87,134 961952 SH SOLE 961,952
APOLLO GROUP INC Common Stock 037604105 10,989 203998 SH SOLE 203,998
APPLE INC Common Stock 037833100 230,170 568320 SH SOLE 568,320
ASSURANT INC Common Stock 04621X108 50,290 1224800 SH SOLE 1,224,800
ASSURED GUARANTY LTD Common Stock G0585R106 18,642 1418701 SH SOLE 1,418,701
AURICO GOLD INC Common Stock 05155C105 12,144 1509897 SH SOLE 1,509,897
AVAGO TECHNOLOGIES LTD Common Stock Y0486S104 100,871 3495167 SH SOLE 3,495,167
AVNET INC Common Stock 053807103 40,058 1288450 SH SOLE 1,288,450
AVON PRODUCTS INC Common Stock 054303102 63,580 3639357 SH SOLE 3,639,357
BAKER HUGHES INC Common Stock 057224107 60,186 1237374 SH SOLE 1,237,374
BANCO BRADESCO SA ADR 059460303 1,858 111404 SH SOLE 111,404
BANCO SANTANDER BRASIL
SA/BRAZ ADR 05967A107 4,865 597662 SH SOLE 597,662
BARRICK GOLD CORP Common Stock 067901108 82,953 1831735 SH SOLE 1,831,735
BERRY PETROLEUM CO Common Stock 085789105 2,348 55878 SH SOLE 55,878
BIOGEN IDEC INC Common Stock 09062X103 91,413 830646 SH SOLE 830,646
BRF - BRASIL FOODS SA ADR 10552T107 782 40000 SH SOLE 40,000
BUNGE LTD Common Stock G16962105 7,574 132415 SH SOLE 132,415
C&J ENERGY SERVICES INC Common Stock 12467B304 523 25000 SH SOLE 25,000
CANADIAN NATURAL RESOURCES
LTD Common Stock 136385101 121,922 3254180 SH SOLE 3,254,180
CAPITAL ONE FINANCIAL CORP Common Stock 14040H105 124,115 2934864 SH SOLE 2,934,864
CATERPILLAR INC Common Stock 149123101 2,651 29261 SH SOLE 29,261
CBS CORP Common Stock 124857202 134,191 4944397 SH SOLE 4,944,397
CHECK POINT SOFTWARE
TECHNOLOG Common Stock M22465104 49,090 934342 SH SOLE 934,342
CHEVRON CORP Common Stock 166764100 192,945 1813396 SH SOLE 1,813,396
CHICAGO BRIDGE & IRON CO
NV NY Reg Shrs 167250109 31,038 821107 SH SOLE 821,107
CIA DE BEBIDAS DAS AMERICAS ADR 20441W203 5,965 165280 SH SOLE 165,280
CIGNA CORP Common Stock 125509109 53,691 1278366 SH SOLE 1,278,366
CISCO SYSTEMS INC Common Stock 17275R102 194,498 10757659 SH SOLE 10,757,659
CLIFFS NATURAL RESOURCES
INC Common Stock 18683K101 67,330 1079870 SH SOLE 1,079,870
COACH INC Common Stock 189754104 76,310 1250163 SH SOLE 1,250,163
COCA-COLA CO/THE Common Stock 191216100 28,252 403771 SH SOLE 403,771
COLGATE-PALMOLIVE CO Common Stock 194162103 7,536 81569 SH SOLE 81,569
COMCAST CORP Common Stock 20030N101 37,351 1575306 SH SOLE 1,575,306
COPA HOLDINGS SA Common Stock P31076105 469 8000 SH SOLE 8,000
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
VOTING AUTHORITY
SHARES ---------------------
FAIR MARKET AMOUNT (A) (B) (C)
TITLE CUSIP VALUE (IN PUT/CALL INVESTMENT OTHER
NAME OF ISSUER OF CLASS NUMBER (THOUSANDS) DISCRETION MANAGERS SOLE SHARED NONE
------------------------- -------- ------ ----------- -------- ---------- -------- ---- ------ ----
CREDICORP LTD Common Stock G2519Y108 728 6650 SH SOLE 6,650
DANAHER CORP Common Stock 235851102 31,588 671505 SH SOLE 671,505
DECKERS OUTDOOR CORP Common Stock 243537107 33,615 444813 SH SOLE 444,813
DEERE & CO Common Stock 244199105 1,848 23893 SH SOLE 23,893
DELL INC Common Stock 24702R101 21,288 1455064 SH SOLE 1,455,064
DENBURY RESOURCES INC Common Stock 247916208 13,018 862125 SH SOLE 862,125
DESARROLLADORA HOMEX SAB
DE CV ADR 25030W100 2,756 163351 SH SOLE 163,351
DEVON ENERGY CORP Common Stock 25179M103 93,078 1501253 SH SOLE 1,501,253
DOVER CORP Common Stock 260003108 1,708 29424 SH SOLE 29,424
DR HORTON INC Common Stock 23331A109 4,040 320343 SH SOLE 320,343
DST SYSTEMS INC Common Stock 233326107 628 13803 SH SOLE 13,803
EBAY INC Common Stock 278642103 794 26191 SH SOLE 26,191
ECOPETROL SA ADR 279158109 509 11440 SH SOLE 11,440
ELDORADO GOLD CORP Common Stock 284902103 5,507 400000 SH SOLE 400,000
EMC CORP/MASSACHUSETTS Common Stock 268648102 88,848 4124772 SH SOLE 4,124,772
ENCANA CORP Common Stock 292505104 102,452 5522581 SH SOLE 5,522,581
ENERGIZER HOLDINGS INC Common Stock 29266R108 45,823 591413 SH SOLE 591,413
ENERSIS SA ADR 29274F104 6,007 340700 SH SOLE 340,700
ENSCO PLC ADR 29358Q109 1,557 33190 SH SOLE 33,190
EXELON CORP Common Stock 30161N101 17,046 393026 SH SOLE 393,026
EXPEDIA INC Common Stock 30212P303 424 14614 SH SOLE 14,614
EXPRESS INC Common Stock 30219E103 34,252 1717759 SH SOLE 1,717,759
EXXON MOBIL CORP Common Stock 30231G102 30,639 361479 SH SOLE 361,479
FEMALE HEALTH CO/THE Common Stock 314462102 999 221435 SH SOLE 221,435
FLEXTRONICS INTERNATIONAL
LTD Common Stock Y2573F102 33,225 5870094 SH SOLE 5,870,094
FOMENTO ECONOMICO MEXICANO
SAB ADR 344419106 1,575 22600 SH SOLE 22,600
FOREST OIL CORP Common Stock 346091705 45,085 3327274 SH SOLE 3,327,274
FRANCO-NEVADA CORP Common Stock 351858105 25,467 668684 SH SOLE 668,684
GENERAL DYNAMICS CORP Common Stock 369550108 38,966 586744 SH SOLE 586,744
GERDAU SA ADR 373737105 751 96100 SH SOLE 96,100
GOLD FIELDS ADR 38059T106 48,324 3168803 SH SOLE 3,168,803
GOLDCORP INC Common Stock 380956409 83,693 1891371 SH SOLE 1,891,371
GOOGLE INC Common Stock 38259P508 20,346 31501 SH SOLE 31,501
GREAT BASIN GOLD LTD Common Stock 390124105 2,329 2425846 SH SOLE 2,425,846
HALLIBURTON CO Common Stock 406216101 518 15000 SH SOLE 15,000
HELMERICH & PAYNE INC Common Stock 423452101 66,272 1135566 SH SOLE 1,135,566
HERBALIFE LTD Common Stock G4412G101 89,024 1722930 SH SOLE 1,722,930
HEWLETT-PACKARD CO Common Stock 428236103 5,042 195745 SH SOLE 195,745
HOME DEPOT INC/THE Common Stock 437076102 1,117 26577 SH SOLE 26,577
IDEX CORP Common Stock 45167R104 38,274 1031377 SH SOLE 1,031,377
IMAX CORP Common Stock 45245E109 37,393 2039992 SH SOLE 2,039,992
IMPERIAL OIL LTD Common Stock 453038408 28,452 638266 SH SOLE 638,266
INTEL CORP Common Stock 458140100 859 35418 SH SOLE 35,418
INTERNATIONAL BUSINESS
MACHINE Common Stock 459200101 1,687 9173 SH SOLE 9,173
INTERNATIONAL SPEEDWAY CORP Common Stock 460335201 884 34861 SH SOLE 34,861
INTERPUBLIC GROUP OF COS
INC/T Common Stock 460690100 547 56168 SH SOLE 56,168
INTREPID POTASH INC Common Stock 46121Y102 25,999 1148854 SH SOLE 1,148,854
INTUIT INC Common Stock 461202103 1,970 37461 SH SOLE 37,461
IPATH MSCI INDIA INDEX ETN ETP 06739F291 14,208 304767 SH SOLE 304,767
ISHARES IBOXX $HIGH YIELD
COR ETP 464288513 41,760 466959 SH SOLE 466,959
ISHARES IBOXX INVESTMENT
GRADE ETP 464287242 28,796 253127 SH SOLE 253,127
ISHARES MSCI JAPAN INDEX
FUND ETP 464286848 2,358 258888 SH SOLE 258,888
ISHARES MSCI TAIWAN INDEX
FUND ETP 464286731 17,656 1507731 SH SOLE 1,507,731
ITAU UNIBANCO HOLDING SA ADR 465562106 1,734 93414 SH SOLE 93,414
JAZZ PHARMACEUTICALS PLC Common Stock 472147107 7,855 203330 SH SOLE 203,330
JM SMUCKER CO/THE Common Stock 832696405 2,012 25739 SH SOLE 25,739
JOHNSON & JOHNSON Common Stock 478160104 43,950 670180 SH SOLE 670,180
JPMORGAN CHASE & CO Common Stock 46625H100 131,417 3952378 SH SOLE 3,952,378
KB HOME Common Stock 48666K109 959 142652 SH SOLE 142,652
KELLOGG CO Common Stock 487836108 6,190 122414 SH SOLE 122,414
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
VOTING AUTHORITY
SHARES ---------------------
FAIR MARKET AMOUNT (A) (B) (C)
TITLE CUSIP VALUE (IN PUT/CALL INVESTMENT OTHER
NAME OF ISSUER OF CLASS NUMBER (THOUSANDS) DISCRETION MANAGERS SOLE SHARED NONE
------------------------- -------- ------ ----------- -------- ---------- -------- ---- ------ ----
KIMBERLY-CLARK CORP Common Stock 494368103 2,874 39068 SH SOLE 39,068
KINROSS GOLD CORP Common Stock 496902404 53,566 4689935 SH SOLE 4,689,935
KRAFT FOODS INC Common Stock 50075N104 815 21807 SH SOLE 21,807
LABORATORY CORP OF AMERICA
HOL Common Stock 50540R409 57,530 669188 SH SOLE 669,188
LENNAR CORP Common Stock 526057104 4,597 233951 SH SOLE 233,951
LIFEPOINT HOSPITALS INC Common Stock 53219L109 47,094 1267664 SH SOLE 1,267,664
LINCOLN NATIONAL CORP Common Stock 534187109 62,592 3223088 SH SOLE 3,223,088
LONE PINE RESOURCES INC Common Stock 54222A106 4,535 647000 SH SOLE 647,000
LYONDELLBASELL INDUSTRIES NV Common Stock N53745100 116,540 3586944 SH SOLE 3,586,944
MACY'S INC Common Stock 55616P104 103,370 3212257 SH SOLE 3,212,257
MARATHON PETROLEUM CORP Common Stock 56585A102 25,342 761258 SH SOLE 761,258
MARKET VECTORS GOLD MINERS
ETF ETP 57060U100 11,516 223912 SH SOLE 223,912
MASTERCARD INC Common Stock 57636Q104 153,279 411134 SH SOLE 411,134
MDC HOLDINGS INC Common Stock 552676108 2,018 114475 SH SOLE 114,475
MEDTRONIC INC Common Stock 585055106 36,763 961116 SH SOLE 961,116
MERCK & CO INC Common Stock 58933Y105 1,095 29054 SH SOLE 29,054
MICROSOFT CORP Common Stock 594918104 132,754 5113810 SH SOLE 5,113,810
MONSANTO CO Common Stock 61166W101 490 7000 SH SOLE 7,000
MOSAIC CO/THE Common Stock 61945C103 681 13500 SH SOLE 13,500
MOTOROLA SOLUTIONS INC Common Stock 620076307 292 6316 SH SOLE 6,316
MURPHY OIL CORP Common Stock 626717102 149,357 2679526 SH SOLE 2,679,526
NABORS INDUSTRIES LTD Common Stock G6359F103 58,303 3362364 SH SOLE 3,362,364
NASDAQ OMX GROUP INC/THE Common Stock 631103108 56,425 2302126 SH SOLE 2,302,126
NATIONAL OILWELL VARCO INC Common Stock 637071101 1,101 16200 SH SOLE 16,200
NETEASE.COM ADR 64110W102 55,337 1233829 SH SOLE 1,233,829
NEW GOLD INC Common Stock 644535106 55,747 5521856 SH SOLE 5,521,856
NEWMONT MINING CORP Common Stock 651639106 100,997 1682999 SH SOLE 1,682,999
NEXEN INC Common Stock 65334H102 97,892 6149172 SH SOLE 6,149,172
NIKE INC Common Stock 654106103 4,507 46767 SH SOLE 46,767
NOBLE CORP Common Stock H5833N103 738 24432 SH SOLE 24,432
NORDSON CORP Common Stock 655663102 36,973 897835 SH SOLE 897,835
NORFOLK SOUTHERN CORP Common Stock 655844108 51,970 713286 SH SOLE 713,286
NORTHROP GRUMMAN CORP Common Stock 666807102 769 13148 SH SOLE 13,148
NU SKIN ENTERPRISES INC Common Stock 67018T105 68,595 1412297 SH SOLE 1,412,297
OCCIDENTAL PETROLEUM CORP Common Stock 674599105 206,875 2207841 SH SOLE 2,207,841
OPEN TEXT CORP Common Stock 683715106 38,337 749624 SH SOLE 749,624
ORACLE CORP Common Stock 68389X105 141,987 5535571 SH SOLE 5,535,571
PATTERSON-UTI ENERGY INC Common Stock 703481101 63,163 3161322 SH SOLE 3,161,322
PEPSICO INC/NC Common Stock 713448108 22,214 334802 SH SOLE 334,802
PETROLEO BRASILEIRO SA ADR 71654V101 222,176 9458333 SH SOLE 9,458,333
PETROLEO BRASILEIRO SA ADR 71654V408 8,134 327315 SH SOLE 327,315
PFIZER INC Common Stock 717081103 225,137 10403741 SH SOLE 10,403,741
PHILIP MORRIS INTERNATIONAL
IN Common Stock 718172109 97,831 1246569 SH SOLE 1,246,569
POTASH CORP OF SASKATCHEWAN
IN Common Stock 73755L107 48,573 1176669 SH SOLE 1,176,669
PRECISION CASTPARTS CORP Common Stock 740189105 48,046 291557 SH SOLE 291,557
PRICELINE.COM INC Common Stock 741503403 144,657 309288 SH SOLE 309,288
PROCTER & GAMBLE CO/THE Common Stock 742718109 48,738 730589 SH SOLE 730,589
PULTE GROUP INC Common Stock 745867101 3,418 541721 SH SOLE 541,721
QUALCOMM INC Common Stock 747525103 85,616 1565192 SH SOLE 1,565,192
QUICKSILVER RESOURCES INC Common Stock 74837R104 30,548 4552615 SH SOLE 4,552,615
RANGE RESOURCES CORP Common Stock 75281A109 9,500 153377 SH SOLE 153,377
REINSURANCE GROUP OF
AMERICA I Common Stock 759351604 38,868 743881 SH SOLE 743,881
ROPER INDUSTRIES INC Common Stock 776696106 52,166 600502 SH SOLE 600,502
ROYAL GOLD INC Common Stock 780287108 91,317 1354253 SH SOLE 1,354,253
RYLAND GROUP INC Common Stock 783764103 1,057 67063 SH SOLE 67,063
SANDISK CORP Common Stock 80004C101 26,538 539278 SH SOLE 539,278
SCHLUMBERGER LTD Common Stock 806857108 3,552 52000 SH SOLE 52,000
SHANDA GAMES LTD ADR 81941U105 25,836 6607694 SH SOLE 6,607,694
SIGNET JEWELERS LTD Common Stock G81276100 230,482 5286796 SH SOLE 5,286,796
SK TELECOM CO LTD ADR 78440P108 951 69840 SH SOLE 69,840
ITEM 1 ITEM 2 ITEM 3 ITEM 4 ITEM 5 ITEM 6 ITEM 7 ITEM 8
VOTING AUTHORITY
SHARES ---------------------
FAIR MARKET AMOUNT (A) (B) (C)
TITLE CUSIP VALUE (IN PUT/CALL INVESTMENT OTHER
NAME OF ISSUER OF CLASS NUMBER (THOUSANDS) DISCRETION MANAGERS SOLE SHARED NONE
------------------------- -------- ------ ----------- -------- ---------- -------- ---- ------ ----
SKYLINE CORP Common Stock 830830105 629 144620 SH SOLE 144,620
SOCIEDAD QUIMICA Y MINERA
DE C ADR 833635105 539 10000 SH SOLE 10,000
SONOCO PRODUCTS CO Common Stock 835495102 37,879 1149254 SH SOLE 1,149,254
SOUTHERN COPPER CORP Common Stock 84265V105 537 17800 SH SOLE 17,800
SOUTHWESTERN ENERGY CO Common Stock 845467109 82,774 2591539 SH SOLE 2,591,539
SPDR S&P EMERGING EUROPE ETF ETP 78463X608 6,706 186334 SH SOLE 186,334
SPREADTRUM COMMUNICATIONS
INC ADR 849415203 26,442 1266371 SH SOLE 1,266,371
SUNCOR ENERGY INC Common Stock 867224107 116,027 4021257 SH SOLE 4,021,257
SUNPOWER CORP Common Stock 867652406 623 100000 SH SOLE 100,000
SUPERVALU INC Common Stock 868536103 17,458 2150000 SH SOLE 2,150,000
SYMANTEC CORP Common Stock 871503108 373 23839 SH SOLE 23,839
TALISMAN ENERGY INC Common Stock 87425E103 82,642 6483086 SH SOLE 6,483,086
TECHNOLOGY SELECT SECTOR
SPDR ETP 81369Y803 1,972 77500 SH SOLE 77,500
TELEFONICA BRASIL SA ADR 87936R106 86,942 3181205 SH SOLE 3,181,205
TERNIUM SA ADR 880890108 5,762 313300 SH SOLE 313,300
TEVA PHARMACEUTICAL
INDUSTRIES ADR 881624209 95,078 2355746 SH SOLE 2,355,746
THERMO FISHER SCIENTIFIC INC Common Stock 883556102 65,594 1458612 SH SOLE 1,458,612
THQ INC Common Stock 872443403 138 181508 SH SOLE 181,508
TIM PARTICIPACOES SA ADR 88706P205 1,322 51239 SH SOLE 51,239
TRANSOCEAN LTD/SWITZERLAND Common Stock H8817H100 89,201 2323536 SH SOLE 2,323,536
TRAVELERS COS INC/THE Common Stock 89417E109 2,308 39006 SH SOLE 39,006
TRIPADVISOR INC Common Stock 896945201 368 14614 SH SOLE 14,614
TUPPERWARE BRANDS CORP Common Stock 899896104 97,348 1739293 SH SOLE 1,739,293
ULTRA PETROLEUM CORP Common Stock 903914109 144,131 4864345 SH SOLE 4,864,345
UNITED TECHNOLOGIES CORP Common Stock 913017109 78,297 1071236 SH SOLE 1,071,236
UNITEDHEALTH GROUP INC Common Stock 91324P102 170,529 3364826 SH SOLE 3,364,826
UNUM GROUP Common Stock 91529Y106 37,495 1779537 SH SOLE 1,779,537
US BANCORP Common Stock 902973304 3,125 115534 SH SOLE 115,534
VALE SA ADR 91912E105 16,488 768672 SH SOLE 768,672
VALE SA ADR 91912E204 5,069 246054 SH SOLE 246,054
VALERO ENERGY CORP Common Stock 91913Y100 30,308 1439830 SH SOLE 1,439,830
VALSPAR CORP Common Stock 920355104 43,583 1118369 SH SOLE 1,118,369
VALUECLICK INC Common Stock 92046N102 30,152 1850966 SH SOLE 1,850,966
VELTI PLC Common Stock G93285107 3,060 450000 SH SOLE 450,000
VERIZON COMMUNICATIONS INC Common Stock 92343V104 141,780 3533897 SH SOLE 3,533,897
VF CORP Common Stock 918204108 43,813 345015 SH SOLE 345,015
WAL-MART STORES INC Common Stock 931142103 4,465 74714 SH SOLE 74,714
WALT DISNEY CO/THE Common Stock 254687106 5,054 134784 SH SOLE 134,784
WARNACO GROUP INC/THE Common Stock 934390402 76,579 1530362 SH SOLE 1,530,362
WASHINGTON POST CO/THE Common Stock 939640108 1,046 2775 SH SOLE 2,775
WEATHERFORD INTERNATIONAL
LTD Common Stock H27013103 125,486 8571475 SH SOLE 8,571,475
WESCO INTERNATIONAL INC Common Stock 95082P105 69,392 1309045 SH SOLE 1,309,045
WHITING PETROLEUM CORP Common Stock 966387102 37,536 803939 SH SOLE 803,939
WYNDHAM WORLDWIDE CORP Common Stock 98310W108 95,418 2522272 SH SOLE 2,522,272
XCEL ENERGY INC Common Stock 98389B100 57,262 2071700 SH SOLE 2,071,700
YAMANA GOLD INC Common Stock 98462Y100 53,768 3645060 SH SOLE 3,645,060
ZIMMER HOLDINGS INC Common Stock 98956P102 59,121 1106715 SH SOLE 1,106,715
220 9,971,784