Instuitional Investor - Cape Ann Asset Management Ltd

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Kinross Gold Corp	KGC	3,568,238	$44,995,481	27.64%
2.	Credicorp Ltd	BAP	156,097	$29,059,018	17.85%
3.	Ternium S A	TX	903,249	$28,145,239	17.29%
4.	Copa Holdings Sa	CPA	221,800	$20,507,628	12.6%
5.	Laureate Education Inc.	LAUR	929,200	$19,002,140	11.67%