0000950123-21-000602.txt : 20210126 0000950123-21-000602.hdr.sgml : 20210126 20210126103053 ACCESSION NUMBER: 0000950123-21-000602 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20201231 FILED AS OF DATE: 20210126 DATE AS OF CHANGE: 20210126 EFFECTIVENESS DATE: 20210126 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SCHAFER CULLEN CAPITAL MANAGEMENT INC CENTRAL INDEX KEY: 0001056593 IRS NUMBER: 133089070 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-04691 FILM NUMBER: 21552108 BUSINESS ADDRESS: STREET 1: 645 FIFTH AVE CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 2126441800 MAIL ADDRESS: STREET 1: 645 FIFTH AVE CITY: NEW YORK STATE: NY ZIP: 10022 13F-HR 1 primary_doc.xml 13F-HR LIVE 0001056593 XXXXXXXX 12-31-2020 12-31-2020 false Schafer Cullen Capital Management Inc

645 Fifth Ave New York NY 10022

13F HOLDINGS REPORT 028-04691 N STEVEN M MULLOOLY 212-843-0570 STEVEN M MULLOOLY NEW YORK NY 01-26-2021 0 258 6744487 false INFORMATION TABLE 2 2267.xml INFORMATION TABLE FOR FORM 13F 3M Co. COM 88579Y101 100438 574623 SH SOLE 419480 0 155143 AAR Corp. COM 000361105 760 20995 SH SOLE 20995 0 0 ABB Ltd. (ADR) ADR 000375204 47265 1690444 SH SOLE 1242820 0 447624 AbbVie Inc. COM 00287Y109 452 4220 SH SOLE 4220 0 0 Acadian Timber Corp. COM 004272100 370 29250 SH SOLE 29250 0 0 AIA Group Ltd COM Y002A1105 8544 697279 SH SOLE 697279 0 0 Akzo Nobel NV (ADR) ADR 010199503 238 6608 SH SOLE 6608 0 0 Allianz SE COM D03080112 816 3329 SH SOLE 3329 0 0 Allianz SE (ADR) ADR 018820100 38505 1562072 SH SOLE 1088709 0 473363 Altria Group Inc. COM 02209S103 68609 1673399 SH SOLE 1235675 0 437724 Ameris Bancorp COM 03076K108 708 18605 SH SOLE 18605 0 0 Amgen Inc. COM 031162100 658 2860 SH SOLE 2860 0 0 Anglo American PLC COM 3662Q1053 5397 162870 SH SOLE 162870 0 0 Apple Inc. COM 037833100 462 3480 SH SOLE 3480 0 0 Arca Continental SAB de CV COM P0448R103 2984 620495 SH SOLE 620495 0 0 Archer-Daniels-Midland Co. COM 039483102 851 16888 SH SOLE 16888 0 0 Arrow Electronics Inc. COM 042735100 3224 33131 SH SOLE 33131 0 0 Ascendas India Trust COM Y0259C104 4279 4099315 SH SOLE 4099315 0 0 Ascendas Real Estate Investmen COM Y0205X103 848 376141 SH SOLE 376141 0 0 ASE Technology Holding Co. Ltd ADR 00215W100 44620 7640328 SH SOLE 6200892 0 1439436 AT&T Inc. COM 00206R102 108572 3775100 SH SOLE 2759585 0 1015515 Avnet Inc. COM 053807103 443 12606 SH SOLE 12606 0 0 BAE Systems PLC COM G06940103 902 135087 SH SOLE 135087 0 0 BAE Systems PLC (ADR) ADR 05523R107 38659 1423913 SH SOLE 1081683 0 342230 Banco Del Bajio COM P1R2ZN117 39 28400 SH SOLE 28400 0 0 Bank of America Corp. COM 060505104 133138 4392551 SH SOLE 3284362 0 1108189 Bank Tabungan Negara Tabak COM Y71197100 31 250000 SH SOLE 250000 0 0 Barrett Business Services Inc. COM 068463108 503 7373 SH SOLE 7373 0 0 BCE Inc. COM 05534B760 170109 3974510 SH SOLE 2944574 0 1029936 BG Staffing Inc. COM 05544A109 640 47477 SH SOLE 47477 0 0 BNP Paribas SA COM F1058Q238 1024 19455 SH SOLE 19455 0 0 BNP Paribas SA (ADR) ADR 05565A202 46578 1750385 SH SOLE 1303244 0 447141 BOEING CO/THE COM 097023105 2090 9762 SH SOLE 9762 0 0 BorgWarner Inc. COM 099724106 1917 49607 SH SOLE 49607 0 0 Bristol-Myers Squibb Co. COM 110122108 21027 338979 SH SOLE 338979 0 0 British American Tobacco PLC ( ADR 110448107 36862 983257 SH SOLE 730811 0 252446 Britvic PLC COM G17387104 684 61650 SH SOLE 61650 0 0 Britvic PLC (ADR) ADR 111190104 17239 758778 SH SOLE 524256 0 234522 Broadcom Ltd. COM 11135F101 115413 263591 SH SOLE 194733 0 68858 Cabot Corp. COM 127055101 321 7151 SH SOLE 7151 0 0 Canadian National Railway Co. COM 136375102 2606 23727 SH SOLE 23727 0 0 Canadian Pacific Railway Ltd. COM 13645T100 442 1274 SH SOLE 1274 0 0 Carrier Global Corporation COM 14448C104 212 5633 SH SOLE 5633 0 0 Chevron Corp. COM 166764100 118564 1403955 SH SOLE 1048006 0 355949 Chinares Cement COM G2113L106 40 35470 SH SOLE 35470 0 0 Chubb Ltd. COM H1467J104 162726 1057208 SH SOLE 796277 0 260931 Cie de Saint-Gobain COM FR0343100 501 10930 SH SOLE 10930 0 0 Cie de Saint-Gobain (ADR) ADR 204280309 29084 3182037 SH SOLE 2345905 0 836132 Cisco Systems Inc. COM 17275R102 109409 2444886 SH SOLE 1777236 0 667650 Citigroup Inc. COM 172967424 89216 1446899 SH SOLE 998261 0 448638 Columbia Sportswear Co. COM 198516106 471 5390 SH SOLE 5390 0 0 Comcast Corp. (Cl A) COM 20030N101 2068 39458 SH SOLE 39458 0 0 Communication Services Select COM 81369Y852 6726 99670 SH SOLE 99670 0 0 Comtech Telecommunications Cor COM 205826209 494 23865 SH SOLE 23865 0 0 ConAgra Brands Inc COM 205887102 15888 438174 SH SOLE 438174 0 0 ConocoPhillips COM 20825C104 71130 1778682 SH SOLE 1354350 0 424332 Consumer Discretionary Select COM 81369Y407 1137 7069 SH SOLE 7069 0 0 Consumer Staples Select Sector COM 81369Y308 11565 171463 SH SOLE 171463 0 0 Corning Inc. COM 219350105 19754 548729 SH SOLE 405539 0 143190 Crane Co. COM 224399105 375 4828 SH SOLE 4828 0 0 Credicorp Ltd. COM G2519Y108 4215 25698 SH SOLE 25698 0 0 Credit Agricole COM F22797108 179 14230 SH SOLE 14230 0 0 CTBC Holding COM Y15093100 29 42000 SH SOLE 42000 0 0 CVS Healthcare Corp COM 126650100 1134 16602 SH SOLE 16602 0 0 Danone S.A. (ADR) ADR 23636T100 648 49438 SH SOLE 49438 0 0 Denka Company Ltd. COM J1257M109 642 16463 SH SOLE 16463 0 0 Denny's Corp. COM 24869P104 451 30710 SH SOLE 30710 0 0 Deutsche Post AG COM D19225107 655 13247 SH SOLE 13247 0 0 Deutsche Post AG (ADR) ADR 25157Y202 26928 540289 SH SOLE 406326 0 133963 Deutsche Telekom AG (ADR) ADR 251566105 36933 2021527 SH SOLE 1427920 0 593607 Diageo PLC (ADR) ADR 25243Q205 90515 569957 SH SOLE 406679 0 163278 Dominion Resources Inc. COM 25746U109 451 5995 SH SOLE 5995 0 0 Domtar Corp. COM 257559203 309 9775 SH SOLE 9775 0 0 Dow Inc COM 260557103 88191 1589029 SH SOLE 1228431 0 360598 Duke Energy Corp. COM 26441C204 102237 1116617 SH SOLE 837483 0 279134 DuPont De Nemour COM 26614N102 13626 191614 SH SOLE 191614 0 0 Eaton Corp. PLC COM G29183103 20325 169180 SH SOLE 169180 0 0 Elbit Systems Ltd. COM M3760D101 1995 15152 SH SOLE 15152 0 0 Eli Lilly & Co. COM 532457108 72070 426852 SH SOLE 335885 0 90967 Enel Chile SA (ADR) ADR 29278D105 2641 678939 SH SOLE 678939 0 0 Enel SPA (ADR) ADR 29265W207 53305 5251719 SH SOLE 3774733 0 1476986 Energy Select Sector SPDR Fund COM 81369Y506 16564 437045 SH SOLE 437045 0 0 Enterprise Financial Services COM 293712105 282 8059 SH SOLE 8059 0 0 Enterprise Products Partners L COM 293792107 430 21975 SH SOLE 21975 0 0 Exxon Mobil Corp. COM 30231G102 86552 2099747 SH SOLE 1443263 0 656484 Filinvest Land, Inc COM Y24916101 392 16794000 SH SOLE 16794000 0 0 Financial Select Sector SPDR F COM 81369Y605 14473 490948 SH SOLE 490948 0 0 First Horizon Corp COM 320517105 361 28330 SH SOLE 28330 0 0 Fluor Corp. COM 343412102 191 11950 SH SOLE 11950 0 0 General Dynamics Corp. COM 369550108 70026 470542 SH SOLE 329890 0 140652 General Mills Inc. COM 370334104 14824 252111 SH SOLE 252111 0 0 Genuine Parts Co. COM 372460105 113481 1129951 SH SOLE 849636 0 280315 GlaxoSmithKline PLC (ADR) ADR 37733W105 18123 492481 SH SOLE 307706 0 184775 Globaltrans Investment PLC GDR COM 37949E204 1765 295095 SH SOLE 295095 0 0 Great Western Bancorp Inc. COM 391416104 867 41486 SH SOLE 41486 0 0 Health Care Select Sector SPDR COM 81369Y209 2028 17873 SH SOLE 17873 0 0 Healthpeak Properties Inc COM 42250P103 93546 3094484 SH SOLE 2289981 0 804503 Honeywell International Inc. COM 438516106 7037 33085 SH SOLE 33085 0 0 Host Hotels & Resorts Inc. COM 44107P104 529 36144 SH SOLE 36144 0 0 Huntsman Corp. COM 447011107 515 20467 SH SOLE 20467 0 0 Iberdola SA (ADR) ADR 450737101 53055 922687 SH SOLE 651028 0 271659 ICICI Bank Ltd. (ADR) ADR 45104G104 6939 466976 SH SOLE 466976 0 0 Imperial Brands PLC (ADR) ADR 45262P102 16169 769221 SH SOLE 518814 0 250407 Indo Tambangraya Megah PT COM Y71244100 38 37750 SH SOLE 37750 0 0 Industrial Select Sector SPDR COM 81369Y704 6168 69655 SH SOLE 69655 0 0 Intel Corp. COM 458140100 124740 2503807 SH SOLE 1932666 0 571141 iShares MSCI ACWI ex US ETF COM 464288240 3522 66404 SH SOLE 66404 0 0 iShares MSCI EAFE ETF COM 464287465 926 12686 SH SOLE 12686 0 0 iShares MSCI Emerging Markets COM 464287234 2558 49500 SH SOLE 49500 0 0 iShares MSCI India ETF COM 46429B598 3641 90531 SH SOLE 90531 0 0 iShares MSCI South Korea ETF COM 464286772 10376 120585 SH SOLE 120585 0 0 iShares MSCI Taiwan ETF COM 46434G772 8334 157016 SH SOLE 157016 0 0 iShares Russell 1000 Value ETF COM 464287598 3907 28573 SH SOLE 28573 0 0 Itau Unibanco Holding SA-Pref ADR 465562106 6496 1066699 SH SOLE 1066699 0 0 Johnson & Johnson COM 478160104 151880 965055 SH SOLE 704549 0 260506 Johnson Controls International COM G51502105 160685 3448927 SH SOLE 2594431 0 854496 Jones Lang LaSalle Inc. COM 48020Q107 422 2844 SH SOLE 2844 0 0 JP Morgan Chase & Co. COM 46625H100 182148 1433444 SH SOLE 1074374 0 359070 Kimberly-Clark Corp. COM 494368103 94150 698289 SH SOLE 508382 0 189907 Klabin S/A UNT N2 COM P6115V251 70 13700 SH SOLE 13700 0 0 Koninklijke Philips NV (ADR) ADR 500472303 821 15165 SH SOLE 15165 0 0 Krung Thai Bank PCL - Foreign COM Y49885208 34 92000 SH SOLE 92000 0 0 KWG Group Holdings COM G53224104 1400 1026030 SH SOLE 1026030 0 0 Las Vegas Sands Corp. COM 517834107 15535 260652 SH SOLE 193006 0 67646 Link REIT COM Y5281M111 118 13000 SH SOLE 13000 0 0 Lloyds Banking Group PLC (ADR) ADR 539439109 149 76180 SH SOLE 76180 0 0 Lowe's Cos. Inc. COM 548661107 89726 559004 SH SOLE 428210 0 130794 Lukoil PJSC (ADR) ADR 69343P105 5765 84338 SH SOLE 84338 0 0 Lundin Mining Corp. COM 550372106 204 22900 SH SOLE 22900 0 0 Magellan Health Inc. COM 559079207 330 3986 SH SOLE 3986 0 0 Mahindra & Mahindra Reg S (GDR COM Y54164119 662 68156 SH SOLE 68156 0 0 Major Cineplex Group COM Y54190130 18 29590 SH SOLE 29590 0 0 Manulife Financial Corp. COM 56501R106 39339 2207565 SH SOLE 1611113 0 596452 Mapletree Industrial Trust COM Y5759S103 190 87000 SH SOLE 87000 0 0 MasterCraft Boat Holdings Inc. COM 57637H103 364 14650 SH SOLE 14650 0 0 Materials Select Sector SPDR F COM 81369Y100 585 8085 SH SOLE 8085 0 0 Mayville Engineering Co Inc COM 578605107 626 46620 SH SOLE 46620 0 0 McDonald's Corp. COM 580135101 1014 4727 SH SOLE 4727 0 0 Medco Energi COM Y7129J136 35 820000 SH SOLE 820000 0 0 Medtronic PLC COM G5960L103 132957 1135028 SH SOLE 841959 0 293069 Merck & Co. Inc. COM 58933Y105 121698 1487751 SH SOLE 1166404 0 321347 Michelin cie Generale de Estab ADR 59410T106 43399 1687383 SH SOLE 1249559 0 437824 Microsoft Corp. COM 594918104 61288 275551 SH SOLE 214504 0 61047 MKS Instruments Inc. COM 55306N104 539 3585 SH SOLE 3585 0 0 MMC Norilsk Nickel PJSC (ADR) ADR 55315J102 16817 534223 SH SOLE 401036 0 133187 Mondelez International Inc. COM 609207105 2321 39691 SH SOLE 39691 0 0 Morgan Stanley COM 617446448 161224 2352607 SH SOLE 1753759 0 598848 Muenchener Ruechversicherungs COM D55535104 607 2048 SH SOLE 2048 0 0 Muenchener Ruechversicherungs ADR 626188106 42238 1421680 SH SOLE 1003768 0 417912 Nagacorp Ltd. COM G6382M109 4437 3386160 SH SOLE 3386160 0 0 National Bank of Canada COM 633067103 1248 22160 SH SOLE 22160 0 0 Nestle SA COM H57312649 789 6702 SH SOLE 6702 0 0 Nestle SA (ADR) ADR 641069406 45890 389560 SH SOLE 281477 0 108083 NetApp Inc. COM 64110D104 445 6724 SH SOLE 6724 0 0 Newmont Corp COM 651639106 2187 36524 SH SOLE 36524 0 0 NextEra Energy Inc COM 65339F101 157326 2039222 SH SOLE 1465352 0 573870 Nippon Telegraph & Telephone C COM J59396101 610 23830 SH SOLE 23830 0 0 Nippon Telegraph & Telephone C ADR 654624105 37787 1470293 SH SOLE 1085286 0 385007 NN Group NV (ADR) ADR 629334103 38424 1782197 SH SOLE 1339412 0 442785 Norfolk Southern Corp. COM 655844108 208 875 SH SOLE 875 0 0 Novartis AG (ADR) ADR 66987V109 197645 2093030 SH SOLE 1579127 0 513903 OPAP SA COM X3232T104 2085 155951 SH SOLE 155951 0 0 OPAP SA (ADR) ADR 392483103 3031 459922 SH SOLE 459922 0 0 Oracle Corp. COM 68389X105 2940 45455 SH SOLE 45455 0 0 Orkla ASA (ADR) ADR 686331109 907 89457 SH SOLE 4014 0 85443 Parkway Life REIT COM Y67202104 689 235400 SH SOLE 235400 0 0 PepsiCo Inc. COM 713448108 584 3937 SH SOLE 3937 0 0 Persimmon PLC (ADR) ADR 715318101 35648 466051 SH SOLE 350718 0 115333 Pfizer Inc. COM 717081103 127632 3467318 SH SOLE 2627874 0 839444 Philip Morris International In COM 718172109 134973 1630309 SH SOLE 1213758 0 416551 Power Assets COM Y7092Q109 285 52572 SH SOLE 52572 0 0 PPL Corp. COM 69351T106 15905 564003 SH SOLE 564003 0 0 Prologis Property Mexico COM P4559M101 7666 3416991 SH SOLE 3416991 0 0 Prysmian SPA COM T7630L105 644 18132 SH SOLE 18132 0 0 PT Bank Rakyat Indonesia COM Y0697U112 3891 12995346 SH SOLE 12995346 0 0 Public Service Enterprise Grou COM 744573106 1178 20200 SH SOLE 20200 0 0 Public Storage COM 74460D109 524 2270 SH SOLE 2270 0 0 QIWI PLC (ADR) ADR 74735M108 1146 111223 SH SOLE 111223 0 0 Quanta Services Inc. COM 74762E102 574 7965 SH SOLE 7965 0 0 Rayonier Inc. COM 754907103 342 11625 SH SOLE 11625 0 0 Raytheon Technologies Corp. COM 75513E101 118900 1662705 SH SOLE 1289695 0 373010 Real Estate Select Sector SPDR COM 81369Y860 1711 46813 SH SOLE 46813 0 0 Roche Holding AG COM H69293217 670 1921 SH SOLE 1921 0 0 Roche Holding AG (ADR) ADR 771195104 40989 934957 SH SOLE 657681 0 277276 Royal Bank of Canada COM 780087102 751 9155 SH SOLE 9155 0 0 Samsung Electronics Co. Ltd. - COM 796050201 6790 4066 SH SOLE 4066 0 0 Samsung Electronics GDR COM 796050888 5420 2970 SH SOLE 2970 0 0 Sanofi COM F5548N101 626 6515 SH SOLE 6515 0 0 Sanofi (ADR) ADR 80105N105 42635 877440 SH SOLE 645729 0 231711 Sany Heavy Equipment Internati COM G78163105 48 64000 SH SOLE 64000 0 0 Sats LTD COM Y7992U101 36 12000 SH SOLE 12000 0 0 Sberbank of Russia PJSC (ADR) ADR 80585Y308 5243 361566 SH SOLE 361566 0 0 Seagate Technology PLC COM G7945M107 226 3630 SH SOLE 3630 0 0 Sempra Energy COM 816851109 915 7184 SH SOLE 7184 0 0 Siemens AG COM D69671218 741 5164 SH SOLE 5164 0 0 Siemens AG (ADR) ADR 826197501 163815 2281866 SH SOLE 1687443 0 594423 Silicon Motion Technology Corp ADR 82706C108 6343 131733 SH SOLE 131733 0 0 Singapore Technologies Enginee COM Y7996W103 133 46065 SH SOLE 46065 0 0 Singapore Telecommunications L COM Y79985209 1187 679197 SH SOLE 679197 0 0 Singapore Telecommunications L ADR 82929R304 5925 340536 SH SOLE 158453 0 182083 SK Telecom Co Ltd (ADR) ADR 78440P108 5051 206350 SH SOLE 206350 0 0 Smith (DS) PLC ORD 10P COM 856552203 183 35750 SH SOLE 35750 0 0 Smurfit Kappa Group PLC COM G8248F104 1015 21847 SH SOLE 21847 0 0 Smurfit Kappa Group PLC (ADR) ADR 83272W106 52537 1125709 SH SOLE 842434 0 283275 Softbank Corp (ADR) ADR 83405K102 31172 2470035 SH SOLE 1785589 0 684446 Sonic Healthcare Ltd. COM Q8563C107 1560 62980 SH SOLE 62980 0 0 Sonic Healthcare Ltd. (ADR) ADR 83546A203 44823 1824840 SH SOLE 1293869 0 530971 South State Corp. COM 840441109 485 6702 SH SOLE 6702 0 0 Spark New Zealand Ltd. COM Q8619N107 39 11590 SH SOLE 11590 0 0 SPDR S&P500 ETF Trust COM 78462F103 213 570 SH SOLE 570 0 0 Spirit of Texas Bancshares In COM 84861D103 275 16343 SH SOLE 16343 0 0 Stora Enso Oyj COM X21349117 407 21300 SH SOLE 21300 0 0 Svenska Handelsbanken AB (ADR) ADR 86959C103 27019 5430927 SH SOLE 4466878 0 964049 Sykes Enterprises Inc. COM 871237103 407 10805 SH SOLE 10805 0 0 Taiwan Semiconductor Manufactu ADR 874039100 13806 126618 SH SOLE 126618 0 0 Target Corp. COM 87612E106 138554 784874 SH SOLE 581913 0 202961 Technology Select Sector SPDR COM 81369Y803 3031 23308 SH SOLE 23308 0 0 Telefonica Brasil SA (ADR) ADR 87936R205 1251 141404 SH SOLE 141404 0 0 Thanachart Capital PCL Foreign COM Y06070109 31 27000 SH SOLE 27000 0 0 The Allstate Corp. COM 020002101 2767 25175 SH SOLE 25175 0 0 The Bank of New York Mellon Co COM 064058100 207 4879 SH SOLE 4879 0 0 The Blackstone Group Inc COM 09260D107 415 6405 SH SOLE 6405 0 0 The Chemours Co. COM 163851108 367 14795 SH SOLE 14795 0 0 The Coca-Cola Co. COM 191216100 337 6140 SH SOLE 6140 0 0 The JM Smucker Co. COM 832696405 388 3355 SH SOLE 3355 0 0 The PNC Financial Services Gro COM 693475105 1484 9957 SH SOLE 9957 0 0 The Procter & Gamble Co. COM 742718109 1554 11170 SH SOLE 11170 0 0 The Siam Commerical Bank PCL COM Y7905M113 32 11090 SH SOLE 11090 0 0 The Travelers Companies Inc. COM 89417E109 73619 524464 SH SOLE 382234 0 142230 The Walt Disney Co. COM 254687106 3984 21990 SH SOLE 21990 0 0 Thermo Fisher Scientific Inc. COM 883556102 3002 6446 SH SOLE 6446 0 0 Tisco Financial Group - Foreig COM Y8843E114 33 11300 SH SOLE 11300 0 0 Total SE (ADR) ADR 89151E109 43597 1040249 SH SOLE 783930 0 256319 Toyota Motor Corp. (ADR) ADR 892331307 54952 355518 SH SOLE 263863 0 91655 Truist Financial Corp COM 89832Q109 116299 2426428 SH SOLE 1811506 0 614922 UBS Group AG (ADR) ADR H42097107 45932 3250705 SH SOLE 2440335 0 810370 Unilever PLC (ADR) ADR 904767704 149598 2478427 SH SOLE 1809388 0 669039 Unimicron COM Y90668107 39 12600 SH SOLE 12600 0 0 Union Medical HealthCare Ltd. COM G9320L100 84 107670 SH SOLE 107670 0 0 Union Pacific Corp. COM 907818108 3178 15262 SH SOLE 15262 0 0 United Overseas Bank Ltd. COM V96194127 222 12983 SH SOLE 12983 0 0 United Overseas Bank Ltd. (ADR ADR 911271302 36925 1080621 SH SOLE 786057 0 294564 United Parcel Service Inc. COM 911312106 78216 464467 SH SOLE 324460 0 140007 UPM-Kymmene Oyj COM X9518S108 1420 38175 SH SOLE 38175 0 0 UPM-Kymmene OYJ (ADR) ADR 915436208 45470 1226588 SH SOLE 908608 0 317980 US Bancorp COM 902973304 313 6727 SH SOLE 6727 0 0 Utilities Select Sector SPDR F COM 81369Y886 647 10320 SH SOLE 10320 0 0 Vale SA (ADR) ADR 91912E105 60813 3628468 SH SOLE 2891962 0 736506 VanEck Vectors Vietnam ETF COM 92189F817 1376 78875 SH SOLE 78875 0 0 Verizon Communications Inc. COM 92343V104 21059 358459 SH SOLE 358459 0 0 Walgreens Boots Alliance Inc. COM 931427108 67196 1684964 SH SOLE 1215589 0 469375 Wal-Mart Stores Inc. COM 931142103 2369 16436 SH SOLE 16436 0 0 Wells Fargo & Co. COM 949746101 836 27714 SH SOLE 27714 0 0 Welltower Inc. COM 95040Q104 108238 1674993 SH SOLE 1280091 0 394902 Weyerhaeuser Co. COM 962166104 535 15941 SH SOLE 15941 0 0 WP Carey Inc. COM 92936U109 486 6885 SH SOLE 6885 0 0 Zijin Mining Group Co. Ltd. COM Y9892H107 6459 5703460 SH SOLE 5703460 0 0 Zurich Insurance Group AG (ADR ADR 989825104 53117 1258099 SH SOLE 932547 0 325552