# EDGAR Filing Document

**Accession Number:** 0001376772
**File Stem:** 0001376772-26-000003
**Filing Date:** 2026-5
**Character Count:** 19759
**Document Hash:** 53b26384930087d5cefb32a70bc7d407
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001376772-26-000003.hdr.sgml**: 20260506

**ACCESSION NUMBER**: 0001376772-26-000003

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260506

**DATE AS OF CHANGE**: 20260506

**EFFECTIVENESS DATE**: 20260506

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Dorsey Wright & Associates
- **CENTRAL INDEX KEY:** 0001376772

**ORGANIZATION NAME:**
- **EIN:** 541395937
- **STATE OF INCORPORATION:** VA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-12076
- **FILM NUMBER:** 26949163

**BUSINESS ADDRESS:**
- **STREET 1:** 790 EAST COLORADO BLVD., STE. 550
- **CITY:** PASADENA
- **STATE:** CA
- **ZIP:** 91101
- **BUSINESS PHONE:** 626-535-0630

**MAIL ADDRESS:**
- **STREET 1:** 790 EAST COLORADO BLVD., STE. 550
- **CITY:** PASADENA
- **STATE:** CA
- **ZIP:** 91101

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**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:** Dorsey Wright  Associates<br>**Address:** 790 EAST COLORADO BLVD. STE. 550<br>PASADENA, CA 91101

**Form 13F File Number:** 028-12076

**CRD Number (if applicable):** 000104925

**SEC File Number (if applicable):** 801-29045

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 Reporting Manager:**

**Name:** Lisa Johnson<br>**Title:** Chief Compliance Officer<br>**Phone:** 301 693 7057

**Signature, Place, and Date of Signing:**

Lisa Johnson  Rockville, MD  05-06-2026<br>[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 are reported 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).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 158

**Form 13F Information Table Value Total:** $806962232

      (round to nearest dollar)

**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.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 21VIANET GROUP INC SPONSORED A | COM | 90138A103 |  | 2647490 | 315553 | SH |  | SOLE |  | 315553 | 0 | 0 |
| ABIVAX SA SPONSORED ADS | COM | 00370M103 |  | 2611380 | 23452 | SH |  | SOLE |  | 23452 | 0 | 0 |
| AERCAP HOLDINGS NV SHS | COM | N00985106 |  | 2007904 | 14637 | SH |  | SOLE |  | 14637 | 0 | 0 |
| ALBEMARLE CORP COM | COM | 012653101 |  | 12089371 | 67339 | SH |  | SOLE |  | 67339 | 0 | 0 |
| ALIBABA GROUP HLDG LTD SPONSOR | COM | 01609W102 |  | 1535003 | 12235 | SH |  | SOLE |  | 12235 | 0 | 0 |
| ALPHABET INC CAP STK CL A | COM | 02079K305 |  | 3889249 | 13525 | SH |  | SOLE |  | 13525 | 0 | 0 |
| AMERICAN ELECTRIC POWER | COM | 025537101 |  | 1469276 | 11209 | SH |  | SOLE |  | 11209 | 0 | 0 |
| AMERISOURCEBERGEN CORP COM | COM | 03073E105 |  | 2108508 | 6712 | SH |  | SOLE |  | 6712 | 0 | 0 |
| AMPHENOL CORP CL A | COM | 032095101 |  | 25357792 | 200695 | SH |  | SOLE |  | 200695 | 0 | 0 |
| ANDERSONS INC COM | COM | 034164103 |  | 1256652 | 17507 | SH |  | SOLE |  | 17507 | 0 | 0 |
| ARGENX SE SPONSORED ADR | FOREIGN COMMON S | 04016X101 |  | 1598517 | 2189 | SH |  | SOLE |  | 2189 | 0 | 0 |
| ARISTA NETWORKS INC COM SHS | COM | 040413205 |  | 346240 | 2820 | SH |  | SOLE |  | 2820 | 0 | 0 |
| ASCENDIS PHARMA A/S SPONSORED | COM | 04351P101 |  | 2717084 | 11879 | SH |  | SOLE |  | 11879 | 0 | 0 |
| BANCO BILBAO VIZCAYA ARGENTASP | COM | 05946K101 |  | 4313177 | 199131 | SH |  | SOLE |  | 199131 | 0 | 0 |
| BANK NEW YORK MELLON CORP COM | COM | 064058100 |  | 15632333 | 131774 | SH |  | SOLE |  | 131774 | 0 | 0 |
| BARCLAYS PLC ADR | COM | 06738E204 |  | 3152798 | 148998 | SH |  | SOLE |  | 148998 | 0 | 0 |
| BRITISH AMERN TOB PLC SPONSORE | COM | 110448107 |  | 2194847 | 37538 | SH |  | SOLE |  | 37538 | 0 | 0 |
| BROADCOM INC COM | COM | 11135F101 |  | 16133108 | 52125 | SH |  | SOLE |  | 52125 | 0 | 0 |
| C H ROBINSON WORLDWIDE INC COM | COM | 12541W209 |  | 1310292 | 7890 | SH |  | SOLE |  | 7890 | 0 | 0 |
| CALLAWAY GOLF CO COM | COM | 131193104 |  | 1111955 | 80112 | SH |  | SOLE |  | 80112 | 0 | 0 |
| CARDINAL HEALTH INC COM | COM | 14149Y108 |  | 23910667 | 113154 | SH |  | SOLE |  | 113154 | 0 | 0 |
| CARPENTER TECHNOLOGY CORP COM | COM | 144285103 |  | 23622255 | 59932 | SH |  | SOLE |  | 59932 | 0 | 0 |
| CEMEX SAB DE CV SPON ADR NEW | COM | 151290889 |  | 2618204 | 228864 | SH |  | SOLE |  | 228864 | 0 | 0 |
| CHINA YUCHAI INTL LTD COM | COM | G21082105 |  | 3473008 | 90208 | SH |  | SOLE |  | 90208 | 0 | 0 |
| CIENA CORP COM NEW | COM | 171779309 |  | 1528850 | 3938 | SH |  | SOLE |  | 3938 | 0 | 0 |
| CNX RESOURCES CORPORATION COM | COM | 12653C108 |  | 9505389 | 246573 | SH |  | SOLE |  | 246573 | 0 | 0 |
| COMFORT SYS USA INC COM | COM | 199908104 |  | 21908043 | 15887 | SH |  | SOLE |  | 15887 | 0 | 0 |
| COMPANIA DE MINAS BUENAVENTUSP | COM | 204448104 |  | 4225149 | 117235 | SH |  | SOLE |  | 117235 | 0 | 0 |
| CONTROLADORA VUELA CIA DE AVSP | COM | 21240E105 |  | 1840466 | 254208 | SH |  | SOLE |  | 254208 | 0 | 0 |
| CURTISS WRIGHT CORP COM | COM | 231561101 |  | 17582013 | 25813 | SH |  | SOLE |  | 25813 | 0 | 0 |
| DBV TECHNOLOGIES S A SPONSORED | COM | 23306J309 |  | 2142270 | 102550 | SH |  | SOLE |  | 102550 | 0 | 0 |
| DECKERS OUTDOOR CORP COM | COM | 243537107 |  | 243219 | 2430 | SH |  | SOLE |  | 2430 | 0 | 0 |
| DT MIDSTREAM INC COMMON STOCK | COM | 23345M107 |  | 13839721 | 102768 | SH |  | SOLE |  | 102768 | 0 | 0 |
| EATON CORP PLC SHS | COM | G29183103 |  | 237493 | 664 | SH |  | SOLE |  | 664 | 0 | 0 |
| EBAY INC. COM | COM | 278642103 |  | 6241260 | 68570 | SH |  | SOLE |  | 68570 | 0 | 0 |
| ELANCO ANIMAL HEALTH INC COM | COM | 28414H103 |  | 11314439 | 472814 | SH |  | SOLE |  | 472814 | 0 | 0 |
| ELBIT SYS LTD ORD | COM | M3760D101 |  | 2865679 | 3375 | SH |  | SOLE |  | 3375 | 0 | 0 |
| EMBRAER S.A. | COM | 29082A107 |  | 4877273 | 82192 | SH |  | SOLE |  | 82192 | 0 | 0 |
| EMCOR GROUP INC COM | COM | 29084Q100 |  | 15329549 | 20763 | SH |  | SOLE |  | 20763 | 0 | 0 |
| ENSIGN GROUP INC COM | COM | 29358P101 |  | 10527776 | 52247 | SH |  | SOLE |  | 52247 | 0 | 0 |
| EQT CORP COM | COM | 26884L109 |  | 291721 | 4584 | SH |  | SOLE |  | 4584 | 0 | 0 |
| ESAB CORPORATION COM | COM | 29605J106 |  | 312263 | 3231 | SH |  | SOLE |  | 3231 | 0 | 0 |
| EVERCORE PARTNERS INC CLASS A | COM | 29977A105 |  | 6895925 | 23101 | SH |  | SOLE |  | 23101 | 0 | 0 |
| FABRINET SHS | COM | G3323L100 |  | 8519551 | 16336 | SH |  | SOLE |  | 16336 | 0 | 0 |
| FACEBOOK INC CL A | COM | 30303M102 |  | 406273 | 710 | SH |  | SOLE |  | 710 | 0 | 0 |
| FIRST TR EXCHANGE TRADED FD DJ | COM | 33733E302 |  | 498717 | 2131 | SH |  | SOLE |  | 2131 | 0 | 0 |
| FIRST TR EXCHANGE TRADED FD FI | COM | 33734X135 |  | 520488 | 9263 | SH |  | SOLE |  | 9263 | 0 | 0 |
| FIRST TR EXCHANGE TRADED FD TE | COM | 33734X176 |  | 708084 | 4457 | SH |  | SOLE |  | 4457 | 0 | 0 |
| FIRST TR EXCHANGE TRADED FD UT | COM | 33734X184 |  | 497239 | 10027 | SH |  | SOLE |  | 10027 | 0 | 0 |
| FIRST TR NASDAQ100 TECH INDESH | COM | 337345102 |  | 709649 | 3286 | SH |  | SOLE |  | 3286 | 0 | 0 |
| FIVE BELOW INC COM | COM | 33829M101 |  | 1108813 | 4853 | SH |  | SOLE |  | 4853 | 0 | 0 |
| FUTU HLDGS LTD SPON ADS CL A | COM | 36118L106 |  | 2019672 | 14768 | SH |  | SOLE |  | 14768 | 0 | 0 |
| GE VERNOVA LLC COM | COM | 36828A101 |  | 30107878 | 34492 | SH |  | SOLE |  | 34492 | 0 | 0 |
| GENERAL ELECTRIC CO COM NEW | COM | 369604301 |  | 319525 | 1126 | SH |  | SOLE |  | 1126 | 0 | 0 |
| GENERAL MTRS CO COM | COM | 37045V100 |  | 9934979 | 133355 | SH |  | SOLE |  | 133355 | 0 | 0 |
| GENMAB A/S | COM | 372303206 |  | 1727530 | 64388 | SH |  | SOLE |  | 64388 | 0 | 0 |
| GILEAD SCIENCES INC COM | COM | 375558103 |  | 1320391 | 9474 | SH |  | SOLE |  | 9474 | 0 | 0 |
| GOLD FIELDS LTD NEW SPONSORED | COM | 38059T106 |  | 4304056 | 94803 | SH |  | SOLE |  | 94803 | 0 | 0 |
| GOLDMAN SACHS GROUP INC COM | COM | 38141G104 |  | 8450778 | 9989 | SH |  | SOLE |  | 9989 | 0 | 0 |
| GSK PLC SPONSORED ADR | FOREIGN COMMON S | 37733W204 |  | 2521797 | 45693 | SH |  | SOLE |  | 45693 | 0 | 0 |
| HARMONY GOLD MNG LTD SPONSORED | COM | 413216300 |  | 3136126 | 204042 | SH |  | SOLE |  | 204042 | 0 | 0 |
| HASBRO INC COM | COM | 418056107 |  | 1481407 | 15827 | SH |  | SOLE |  | 15827 | 0 | 0 |
| HCA HOLDINGS INC COM | COM | 40412C101 |  | 1431551 | 3025 | SH |  | SOLE |  | 3025 | 0 | 0 |
| HOWMET AEROSPACE INC COM | COM | 443201108 |  | 17028465 | 73889 | SH |  | SOLE |  | 73889 | 0 | 0 |
| Invesco DB Agriculture Fund | COM | 46140H106 |  | 652620 | 23888 | SH |  | SOLE |  | 23888 | 0 | 0 |
| ILLUMINA INC COM | COM | 452327109 |  | 1027619 | 8337 | SH |  | SOLE |  | 8337 | 0 | 0 |
| INCYTE CORP COM | COM | 45337C102 |  | 1198618 | 12735 | SH |  | SOLE |  | 12735 | 0 | 0 |
| INTERACTIVE BROKERS GROUP INCO | COM | 45841N107 |  | 6282795 | 93675 | SH |  | SOLE |  | 93675 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS C | COM | 459200101 |  | 918900 | 3791 | SH |  | SOLE |  | 3791 | 0 | 0 |
| INVESCO DB PRECIOUS METALS FUN | COM | 46140H502 |  | 8383397 | 76185 | SH |  | SOLE |  | 76185 | 0 | 0 |
| ISHARES INC AUSTRIA CAPD E | COM | 464286202 |  | 585882 | 16527 | SH |  | SOLE |  | 16527 | 0 | 0 |
| ISHARES INC MSCI EURZONE E | COM | 464286608 |  | 6753344 | 107812 | SH |  | SOLE |  | 107812 | 0 | 0 |
| ISHARES MSCI GERMANY E | COM | 464286806 |  | 439623 | 11082 | SH |  | SOLE |  | 11082 | 0 | 0 |
| ISHARES MSCI SPAN CP E | COM | 464286764 |  | 742689 | 13675 | SH |  | SOLE |  | 13675 | 0 | 0 |
| ISHARES SILVER TRUST ISHARES | COM | 46428Q109 |  | 6614622 | 97074 | SH |  | SOLE |  | 97074 | 0 | 0 |
| ISHARES TR 1-3 YR TR BD E | COM | 464287457 |  | 2675681 | 32405 | SH |  | SOLE |  | 32405 | 0 | 0 |
| ISHARES TR 20 YR TR BD ET | COM | 464287432 |  | 3269687 | 37717 | SH |  | SOLE |  | 37717 | 0 | 0 |
| ISHARES TR 7-10 Y TR BD E | COM | 464287440 |  | 9853482 | 103243 | SH |  | SOLE |  | 103243 | 0 | 0 |
| ISHARES TR CHINA LG-CAP E | COM | 464287184 |  | 509729 | 14199 | SH |  | SOLE |  | 14199 | 0 | 0 |
| ISHARES TR COHEN RE | COM | 464287564 |  | 646070 | 10439 | SH |  | SOLE |  | 10439 | 0 | 0 |
| ISHARES TR EUROPE ETF | COM | 464287861 |  | 6102507 | 89822 | SH |  | SOLE |  | 89822 | 0 | 0 |
| ISHARES TR IBOXX HI YD ET | COM | 464288513 |  | 2466121 | 30997 | SH |  | SOLE |  | 30997 | 0 | 0 |
| ISHARES TR IBOXX INV CP E | COM | 464287242 |  | 2439959 | 22387 | SH |  | SOLE |  | 22387 | 0 | 0 |
| ISHARES TR MSCI EMG MKT E | COM | 464287234 |  | 7011350 | 123461 | SH |  | SOLE |  | 123461 | 0 | 0 |
| ISHARES TR S 500 GRWT ETF | COM | 464287309 |  | 6451738 | 57039 | SH |  | SOLE |  | 57039 | 0 | 0 |
| ISHARES TR TIPS BD ETF | COM | 464287176 |  | 3142722 | 28477 | SH |  | SOLE |  | 28477 | 0 | 0 |
| ISHARES TR USA MOMENTUM F | COM | 46432F396 |  | 7010891 | 29213 | SH |  | SOLE |  | 29213 | 0 | 0 |
| ISHARES TR USA VALUE FACT | COM | 46432F388 |  | 8040987 | 56551 | SH |  | SOLE |  | 56551 | 0 | 0 |
| JABIL CIRCUIT INC COM | COM | 466313103 |  | 1212335 | 4564 | SH |  | SOLE |  | 4564 | 0 | 0 |
| JOHNSON  JOHNSON COM | COM | 478160104 |  | 6708238 | 27443 | SH |  | SOLE |  | 27443 | 0 | 0 |
| JPMORGAN CHASE  CO COM | COM | 46625H100 |  | 1724366 | 5862 | SH |  | SOLE |  | 5862 | 0 | 0 |
| KINDER MORGAN INC DEL COM | COM | 49456B101 |  | 1628351 | 48564 | SH |  | SOLE |  | 48564 | 0 | 0 |
| KLA-TENCOR CORP COM | COM | 482480100 |  | 1983336 | 1347 | SH |  | SOLE |  | 1347 | 0 | 0 |
| KOREA ELECTRIC PWR SPONSORED A | COM | 500631106 |  | 2370402 | 166344 | SH |  | SOLE |  | 166344 | 0 | 0 |
| KRATOS DEFENSE  SEC SOLUTIONS | COM | 50077B207 |  | 3636060 | 51568 | SH |  | SOLE |  | 51568 | 0 | 0 |
| LILLY ELI AND COMPANY | COM | 532457108 |  | 467539 | 508 | SH |  | SOLE |  | 508 | 0 | 0 |
| LOEWS CORP | COM | 540424108 |  | 1132725 | 10612 | SH |  | SOLE |  | 10612 | 0 | 0 |
| LUMENTUM HLDGS INC COM | COM | 55024U109 |  | 7579267 | 10785 | SH |  | SOLE |  | 10785 | 0 | 0 |
| MARATHON PETE CORP COM | COM | 56585A102 |  | 226599 | 928 | SH |  | SOLE |  | 928 | 0 | 0 |
| MASTEC INC COM | COM | 576323109 |  | 12567486 | 39061 | SH |  | SOLE |  | 39061 | 0 | 0 |
| MCKESSON CORP COM | COM | 58155Q103 |  | 244897 | 283 | SH |  | SOLE |  | 283 | 0 | 0 |
| MEDPACE HLDGS INC COM | COM | 58506Q109 |  | 13512547 | 28140 | SH |  | SOLE |  | 28140 | 0 | 0 |
| MERCK  CO INC NEW COM | COM | 58933Y105 |  | 1350255 | 11225 | SH |  | SOLE |  | 11225 | 0 | 0 |
| MITSUBISHI UFJ FINL GROUP INSP | COM | 606822104 |  | 3784819 | 223030 | SH |  | SOLE |  | 223030 | 0 | 0 |
| MKS INSTRUMENT INC COM | COM | 55306N104 |  | 1329221 | 5784 | SH |  | SOLE |  | 5784 | 0 | 0 |
| MP MATERIALS CORP | COM | 553368101 |  | 2921950 | 60546 | SH |  | SOLE |  | 60546 | 0 | 0 |
| NETFLIX INC COM | COM | 64110L106 |  | 281720 | 2930 | SH |  | SOLE |  | 2930 | 0 | 0 |
| NEWMARKET CORP COM | COM | 651587107 |  | 231383 | 361 | SH |  | SOLE |  | 361 | 0 | 0 |
| NEWMONT CORP COM | COM | 651639106 |  | 26126087 | 241350 | SH |  | SOLE |  | 241350 | 0 | 0 |
| NOVARTIS AG SPONSORED ADR | COM | 66987V109 |  | 2484326 | 16264 | SH |  | SOLE |  | 16264 | 0 | 0 |
| NRG ENERGY INC COM NEW | COM | 629377508 |  | 8710404 | 59603 | SH |  | SOLE |  | 59603 | 0 | 0 |
| NVIDIA CORPORATION COM | COM | 67066G104 |  | 25491711 | 146168 | SH |  | SOLE |  | 146168 | 0 | 0 |
| ORMAT TECHNOLOGIES INC COM | COM | 686688102 |  | 4082394 | 36476 | SH |  | SOLE |  | 36476 | 0 | 0 |
| OSHKOSH CORP COM | COM | 688239201 |  | 1320915 | 8973 | SH |  | SOLE |  | 8973 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC CL A | COM | 69608A108 |  | 18591603 | 127096 | SH |  | SOLE |  | 127096 | 0 | 0 |
| PALO ALTO NETWORKS INC COM | COM | 697435105 |  | 241121 | 1504 | SH |  | SOLE |  | 1504 | 0 | 0 |
| PENUMBRA INC COM | COM | 70975L107 |  | 1156848 | 3523 | SH |  | SOLE |  | 3523 | 0 | 0 |
| PHINIA INC COMMON STOCK | COM | 71880K101 |  | 1057603 | 15453 | SH |  | SOLE |  | 15453 | 0 | 0 |
| POWERSHARES ETF TR II S L | COM | 46138E354 |  | 466194 | 6374 | SH |  | SOLE |  | 6374 | 0 | 0 |
| RALPH LAUREN CORP CL A | COM | 751212101 |  | 4132352 | 12013 | SH |  | SOLE |  | 12013 | 0 | 0 |
| RAYTHEON TECHNOLOGIES CORP COM | COM | 75513E101 |  | 1614187 | 8368 | SH |  | SOLE |  | 8368 | 0 | 0 |
| ROIVANT SCIENCES LTD SHS | COM | G76279101 |  | 15986972 | 577147 | SH |  | SOLE |  | 577147 | 0 | 0 |
| ROYAL GOLD INC COM | COM | 780287108 |  | 1106268 | 4347 | SH |  | SOLE |  | 4347 | 0 | 0 |
| RYANAIR HLDGS PLC SPONSORED AD | COM | 783513203 |  | 2236629 | 38696 | SH |  | SOLE |  | 38696 | 0 | 0 |
| RYDER SYS INC COM | COM | 783549108 |  | 1383635 | 6759 | SH |  | SOLE |  | 6759 | 0 | 0 |
| SABRA HEALTH CARE REIT INC COM | COM | 78573L106 |  | 1233547 | 64147 | SH |  | SOLE |  | 64147 | 0 | 0 |
| SEAGATE TECHNOLOGY HLDNGS PLC | COM | G7997R103 |  | 6811139 | 17386 | SH |  | SOLE |  | 17386 | 0 | 0 |
| SELECT SECTOR SPDR TR SBI INT- | COM | 81369Y704 |  | 7017309 | 43389 | SH |  | SOLE |  | 43389 | 0 | 0 |
| SIBANYE STILLWATER LTD SPONSOR | COM | 82575P107 |  | 3035217 | 246365 | SH |  | SOLE |  | 246365 | 0 | 0 |
| SIMON PPTY GROUP INC NEW COM | COM | 828806109 |  | 1021811 | 5478 | SH |  | SOLE |  | 5478 | 0 | 0 |
| SOUTHWEST AIRLS CO COM | COM | 844741108 |  | 3458394 | 92052 | SH |  | SOLE |  | 92052 | 0 | 0 |
| SPDR GOLD TRUST GOLD SHS | COM | 78463V107 |  | 9481440 | 22035 | SH |  | SOLE |  | 22035 | 0 | 0 |
| SPDR SERIES TRUST BRC CNV SECS | COM | 78464A359 |  | 2680712 | 29291 | SH |  | SOLE |  | 29291 | 0 | 0 |
| SPROUTS FMRS MKT INC COM | COM | 85208M102 |  | 211953 | 2748 | SH |  | SOLE |  | 2748 | 0 | 0 |
| STEEL DYNAMICS INC COM | COM | 858119100 |  | 1195763 | 6643 | SH |  | SOLE |  | 6643 | 0 | 0 |
| SUMITOMO MITSUI FINL GROUP ISP | COM | 86562M209 |  | 2532503 | 128228 | SH |  | SOLE |  | 128228 | 0 | 0 |
| SYNCHRONY FINL COM | COM | 87165B103 |  | 1381554 | 20311 | SH |  | SOLE |  | 20311 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTDSP | COM | 874039100 |  | 2724891 | 8063 | SH |  | SOLE |  | 8063 | 0 | 0 |
| TAPESTRY INC COM | COM | 876030107 |  | 13447398 | 95297 | SH |  | SOLE |  | 95297 | 0 | 0 |
| TECHNIPFMC PLC COM | COM | G87110105 |  | 19291694 | 279064 | SH |  | SOLE |  | 279064 | 0 | 0 |
| TELEFONICA BRASIL SA NEW ADR | FOREIGN COMMON S | 87936R205 |  | 2859218 | 179712 | SH |  | SOLE |  | 179712 | 0 | 0 |
| TEMPUR SEALY INTL INC COM | COM | 88023U101 |  | 8931135 | 120822 | SH |  | SOLE |  | 120822 | 0 | 0 |
| TENET HEALTHCARE CORP COM NEW | COM | 88033G407 |  | 13207813 | 69990 | SH |  | SOLE |  | 69990 | 0 | 0 |
| TEVA PHARMACEUTICAL INDS LTDAD | COM | 881624209 |  | 2275958 | 75563 | SH |  | SOLE |  | 75563 | 0 | 0 |
| THERMO ELECTRON CORP COM | COM | 883556102 |  | 983552 | 2001 | SH |  | SOLE |  | 2001 | 0 | 0 |
| TKO GROUP HOLDINGS INC CL A | COM | 87256C101 |  | 1657160 | 8218 | SH |  | SOLE |  | 8218 | 0 | 0 |
| TRAVEL PLUS LEISURE CO COM | COM | 894164102 |  | 1461016 | 21116 | SH |  | SOLE |  | 21116 | 0 | 0 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 949418 | 3255 | SH |  | SOLE |  | 3255 | 0 | 0 |
| UNITED AIRLS HLDGS INC COM | COM | 910047109 |  | 6196127 | 67298 | SH |  | SOLE |  | 67298 | 0 | 0 |
| UNITED THERAPEUTICS CORP DELCO | COM | 91307C102 |  | 6503212 | 10967 | SH |  | SOLE |  | 10967 | 0 | 0 |
| US FOODS HOLDING CORP | COM | 912008109 |  | 1851485 | 20079 | SH |  | SOLE |  | 20079 | 0 | 0 |
| VENTAS INC COM | COM | 92276F100 |  | 1255814 | 15356 | SH |  | SOLE |  | 15356 | 0 | 0 |
| VEON LTD SPONSORED ADS | COM | 91822M502 |  | 1641659 | 35457 | SH |  | SOLE |  | 35457 | 0 | 0 |
| WEATHERFORD INTL PLC | COM | G48833118 |  | 4246926 | 44903 | SH |  | SOLE |  | 44903 | 0 | 0 |
| WELLS FARGO  CO NEW COM | COM | 949746101 |  | 7406410 | 93034 | SH |  | SOLE |  | 93034 | 0 | 0 |
| WELLTOWER INC COM | COM | 95040Q104 |  | 4529141 | 22908 | SH |  | SOLE |  | 22908 | 0 | 0 |
| WESTERN DIGITAL CORP COM | COM | 958102105 |  | 5292948 | 19568 | SH |  | SOLE |  | 19568 | 0 | 0 |
| XPO LOGISTICS INC COM | COM | 983793100 |  | 315560 | 1622 | SH |  | SOLE |  | 1622 | 0 | 0 |

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