Instuitional Investor - Tradewinds Global Investors, Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Axis Capital Holdings Ltd	AXS	76,349	$4,148,000	5.1%
2.	S K Telecom Co Ltd	SKM	102,441.33,333,333	$3,473,000	4.27%
3.	Nippon Telegraph & Telphone Corp	NTT	75,404	$3,454,000	4.24%
4.	Royal Dutch Shell Plc	RDS	61,173	$3,232,000	3.97%
5.	I N G Groep N V	ING	261,401	$3,226,000	3.96%