<informationTable xmlns="http://www.sec.gov/edgar/document/thirteenf/informationtable" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
	<infoTable>
		<nameOfIssuer>BOSTON SCIENTIFIC CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>101137107</cusip>
		<value>191949</value>
		<shrsOrPrnAmt>
			<sshPrnamt>5020016</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>5020016</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>EBAY INC.</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>278642103</cusip>
		<value>65688</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1259926</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>1259926</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>ETSY INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>29786A106</cusip>
		<value>44812</value>
		<shrsOrPrnAmt>
			<sshPrnamt>368172</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>368172</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>SOHU COM LTD</nameOfIssuer>
		<titleOfClass>SPONSORED ADS</titleOfClass>
		<cusip>83410S108</cusip>
		<value>3404</value>
		<shrsOrPrnAmt>
			<sshPrnamt>171267</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>171267</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>MEDTRONIC PLC</nameOfIssuer>
		<titleOfClass>SHS</titleOfClass>
		<cusip>G5960L103</cusip>
		<value>29736</value>
		<shrsOrPrnAmt>
			<sshPrnamt>285945</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>285945</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>FRONTDOOR INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>35905A109</cusip>
		<value>38637</value>
		<shrsOrPrnAmt>
			<sshPrnamt>992302</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>992302</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>FISERV INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>337738108</cusip>
		<value>61148</value>
		<shrsOrPrnAmt>
			<sshPrnamt>592970</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>592970</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>BARRICK GOLD CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>067901108</cusip>
		<value>200057</value>
		<shrsOrPrnAmt>
			<sshPrnamt>7111967</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>7111967</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>NEWMONT CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>651639106</cusip>
		<value>64951</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1022951</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>1022951</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>NXP SEMICONDUCTORS N V</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>N6596X109</cusip>
		<value>54139</value>
		<shrsOrPrnAmt>
			<sshPrnamt>433467</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>433467</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>MOSAIC CO NEW</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>61945C103</cusip>
		<value>6940</value>
		<shrsOrPrnAmt>
			<sshPrnamt>379577</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>379577</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>GLAXOSMITHKLINE PLC</nameOfIssuer>
		<titleOfClass>SPONSORED ADR</titleOfClass>
		<cusip>37733W105</cusip>
		<value>8650</value>
		<shrsOrPrnAmt>
			<sshPrnamt>229661</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>229661</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>CITIGROUP INC</nameOfIssuer>
		<titleOfClass>COM NEW</titleOfClass>
		<cusip>172967424</cusip>
		<value>11864</value>
		<shrsOrPrnAmt>
			<sshPrnamt>275017</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>275017</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>DELTA AIR LINES INC DEL</nameOfIssuer>
		<titleOfClass>COM NEW</titleOfClass>
		<cusip>247361702</cusip>
		<value>12170</value>
		<shrsOrPrnAmt>
			<sshPrnamt>397702</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>397702</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>SIX FLAGS ENTMT CORP</nameOfIssuer>
		<titleOfClass>NEW COM</titleOfClass>
		<cusip>83001A102</cusip>
		<value>5807</value>
		<shrsOrPrnAmt>
			<sshPrnamt>285869</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>285869</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>CNH INDL N V</nameOfIssuer>
		<titleOfClass>SHS</titleOfClass>
		<cusip>N20944109</cusip>
		<value>7445</value>
		<shrsOrPrnAmt>
			<sshPrnamt>956100</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>956100</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>CARNIVAL CORP</nameOfIssuer>
		<titleOfClass>UNIT 99/99/9999</titleOfClass>
		<cusip>143658300</cusip>
		<value>4462</value>
		<shrsOrPrnAmt>
			<sshPrnamt>293751</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>293751</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>MICRON TECHNOLOGY INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>595112103</cusip>
		<value>13018</value>
		<shrsOrPrnAmt>
			<sshPrnamt>277028</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>277028</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>CAMECO CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>13321L108</cusip>
		<value>5515</value>
		<shrsOrPrnAmt>
			<sshPrnamt>545687</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>545687</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>TOTAL SE</nameOfIssuer>
		<titleOfClass>SPONSORED ADS</titleOfClass>
		<cusip>89151E109</cusip>
		<value>9324</value>
		<shrsOrPrnAmt>
			<sshPrnamt>271646</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>271646</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>VIACOMCBS INC</nameOfIssuer>
		<titleOfClass>CL B</titleOfClass>
		<cusip>92556H206</cusip>
		<value>5495</value>
		<shrsOrPrnAmt>
			<sshPrnamt>196060</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>196060</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>MGM RESORTS INTERNATIONAL</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>552953101</cusip>
		<value>4553</value>
		<shrsOrPrnAmt>
			<sshPrnamt>209200</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>209200</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>EQUINOR ASA</nameOfIssuer>
		<titleOfClass>SPONSORED ADR</titleOfClass>
		<cusip>29446M102</cusip>
		<value>8272</value>
		<shrsOrPrnAmt>
			<sshPrnamt>587941</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>587941</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>LIVE NATION ENTERTAINMENT IN</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>538034109</cusip>
		<value>4821</value>
		<shrsOrPrnAmt>
			<sshPrnamt>89422</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>89422</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>INTERNATIONAL BUSINESS MACHS</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>459200101</cusip>
		<value>16749</value>
		<shrsOrPrnAmt>
			<sshPrnamt>137564</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>137564</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>GOLD FIELDS LTD</nameOfIssuer>
		<titleOfClass>SPONSORED ADR</titleOfClass>
		<cusip>38059T106</cusip>
		<value>11011</value>
		<shrsOrPrnAmt>
			<sshPrnamt>895303</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>895303</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>EXXON MOBIL CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>30231G102</cusip>
		<value>11577</value>
		<shrsOrPrnAmt>
			<sshPrnamt>337001</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>337001</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>FREEPORT-MCMORAN INC</nameOfIssuer>
		<titleOfClass>CL B</titleOfClass>
		<cusip>35671D857</cusip>
		<value>14526</value>
		<shrsOrPrnAmt>
			<sshPrnamt>928152</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>928152</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>SIBANYE STILLWATER LTD</nameOfIssuer>
		<titleOfClass>SPONSORED ADR</titleOfClass>
		<cusip>82575P107</cusip>
		<value>8702</value>
		<shrsOrPrnAmt>
			<sshPrnamt>780585</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>780585</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>ON SEMICONDUCTOR CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>682189105</cusip>
		<value>21087</value>
		<shrsOrPrnAmt>
			<sshPrnamt>971537</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>971537</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>EQUIFAX INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>294429105</cusip>
		<value>5512</value>
		<shrsOrPrnAmt>
			<sshPrnamt>35109</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>35109</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>AON PLC SHS</nameOfIssuer>
		<titleOfClass>CL A</titleOfClass>
		<cusip>G0403H108</cusip>
		<value>17181</value>
		<shrsOrPrnAmt>
			<sshPrnamt>83226</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>83226</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>T-MOBILE US INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>872590104</cusip>
		<value>11175</value>
		<shrsOrPrnAmt>
			<sshPrnamt>97646</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>97646</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>PFIZER INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>717081103</cusip>
		<value>7707</value>
		<shrsOrPrnAmt>
			<sshPrnamt>209853</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>209853</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>ALPHABET INC</nameOfIssuer>
		<titleOfClass>CAP STK CL A</titleOfClass>
		<cusip>02079K305</cusip>
		<value>20544</value>
		<shrsOrPrnAmt>
			<sshPrnamt>14008</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>14008</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>ZIMMER BIOMET HOLDINGS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>98956P102</cusip>
		<value>19828</value>
		<shrsOrPrnAmt>
			<sshPrnamt>145541</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>145541</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>ANTHEM INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>036752103</cusip>
		<value>11339</value>
		<shrsOrPrnAmt>
			<sshPrnamt>42189</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>42189</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>MICROSOFT CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>594918104</cusip>
		<value>25202</value>
		<shrsOrPrnAmt>
			<sshPrnamt>119740</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>119740</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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		<nameOfIssuer>FACEBOOK INC</nameOfIssuer>
		<titleOfClass>CL A</titleOfClass>
		<cusip>30303M102</cusip>
		<value>29325</value>
		<shrsOrPrnAmt>
			<sshPrnamt>111891</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>111891</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>CBOE GLOBAL MARKETS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>12503M108</cusip>
		<value>1825</value>
		<shrsOrPrnAmt>
			<sshPrnamt>20784</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>20784</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>GRAND CANYON ED INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>38526M106</cusip>
		<value>4387</value>
		<shrsOrPrnAmt>
			<sshPrnamt>54836</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>54836</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>INTERCONTINENTAL EXCHANGE IN</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>45866F104</cusip>
		<value>12174</value>
		<shrsOrPrnAmt>
			<sshPrnamt>121593</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>121593</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>ELECTRONIC ARTS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>285512109</cusip>
		<value>20432</value>
		<shrsOrPrnAmt>
			<sshPrnamt>156566</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>156566</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>BOOKING HOLDINGS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>09857L108</cusip>
		<value>2172</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1269</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>1269</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
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		<nameOfIssuer>BWX TECHNOLOGIES INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>05605H100</cusip>
		<value>12333</value>
		<shrsOrPrnAmt>
			<sshPrnamt>218863</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>218863</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>WILLSCOT MOBIL MINI HLDNG CO</nameOfIssuer>
		<titleOfClass>COM CL A ADDED</titleOfClass>
		<cusip>971378104</cusip>
		<value>5571</value>
		<shrsOrPrnAmt>
			<sshPrnamt>333745</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>333745</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>EVEREST RE GROUP LTD</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>G3223R108</cusip>
		<value>2966</value>
		<shrsOrPrnAmt>
			<sshPrnamt>15005</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>15005</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>AMERICAN EAGLE OUTFITTERS IN</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>02553E106</cusip>
		<value>3338</value>
		<shrsOrPrnAmt>
			<sshPrnamt>225202</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>225202</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>BECTON DICKINSON &amp; CO</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>075887109</cusip>
		<value>3839</value>
		<shrsOrPrnAmt>
			<sshPrnamt>16487</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>16487</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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		<nameOfIssuer>CROWN HLDGS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>228368106</cusip>
		<value>14994</value>
		<shrsOrPrnAmt>
			<sshPrnamt>194948</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>194948</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>XPO LOGISTICS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>983793100</cusip>
		<value>6886</value>
		<shrsOrPrnAmt>
			<sshPrnamt>81284</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>81284</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>LOCKHEED MARTIN CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>539830109</cusip>
		<value>2202</value>
		<shrsOrPrnAmt>
			<sshPrnamt>5740</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>5740</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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		<nameOfIssuer>AMAZON COM INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>023135106</cusip>
		<value>24990</value>
		<shrsOrPrnAmt>
			<sshPrnamt>7931</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>7931</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>US FOODS HLDG CORP</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>912008109</cusip>
		<value>12973</value>
		<shrsOrPrnAmt>
			<sshPrnamt>583427</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>583427</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>PAYPAL HLDGS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>70450Y103</cusip>
		<value>4103</value>
		<shrsOrPrnAmt>
			<sshPrnamt>20812</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>20812</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>MERCK &amp; CO. INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>58933Y105</cusip>
		<value>5651</value>
		<shrsOrPrnAmt>
			<sshPrnamt>68082</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
		</shrsOrPrnAmt>
		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>68082</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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		<nameOfIssuer>UNITED RENTALS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>911363109</cusip>
		<value>6587</value>
		<shrsOrPrnAmt>
			<sshPrnamt>37722</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>37722</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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		<nameOfIssuer>CDK GLOBAL INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>12508E101</cusip>
		<value>4662</value>
		<shrsOrPrnAmt>
			<sshPrnamt>106887</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>106887</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>WYNDHAM HOTELS &amp; RESORTS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>98311A105</cusip>
		<value>13352</value>
		<shrsOrPrnAmt>
			<sshPrnamt>264211</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>264211</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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		<nameOfIssuer>IAA INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>449253103</cusip>
		<value>14804</value>
		<shrsOrPrnAmt>
			<sshPrnamt>284102</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>284102</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>TAL EDUCATION GROUP</nameOfIssuer>
		<titleOfClass>SPONSORED ADR</titleOfClass>
		<cusip>874080104</cusip>
		<value>143</value>
		<shrsOrPrnAmt>
			<sshPrnamt>1882</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>1882</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>TAIWAN SEMICONDUCTOR MFG LTD</nameOfIssuer>
		<titleOfClass>SPONSORED ADR</titleOfClass>
		<cusip>874039100</cusip>
		<value>12270</value>
		<shrsOrPrnAmt>
			<sshPrnamt>151250</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>151250</Sole>
			<Shared>0</Shared>
			<None>0</None>
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	<infoTable>
		<nameOfIssuer>TRIP COM GROUP LTD</nameOfIssuer>
		<titleOfClass>ADS</titleOfClass>
		<cusip>89677Q107</cusip>
		<value>7116</value>
		<shrsOrPrnAmt>
			<sshPrnamt>228359</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>228359</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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		<nameOfIssuer>MARVELL TECHNOLOGY GROUP LTD</nameOfIssuer>
		<titleOfClass>ORD</titleOfClass>
		<cusip>G5876H105</cusip>
		<value>811</value>
		<shrsOrPrnAmt>
			<sshPrnamt>20404</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>20404</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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		<nameOfIssuer>FIRST REP BK SAN FRANCISCO C</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>33616C100</cusip>
		<value>1543</value>
		<shrsOrPrnAmt>
			<sshPrnamt>14134</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>14134</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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		<nameOfIssuer>NEW ORIENTAL ED &amp; TECHN</nameOfIssuer>
		<titleOfClass>SPON ADR SER B</titleOfClass>
		<cusip>647581107</cusip>
		<value>9985</value>
		<shrsOrPrnAmt>
			<sshPrnamt>66742</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>66742</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>BANCO MACRO SA</nameOfIssuer>
		<titleOfClass>SPON ADR B</titleOfClass>
		<cusip>05961W105</cusip>
		<value>126</value>
		<shrsOrPrnAmt>
			<sshPrnamt>8832</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>8832</Sole>
			<Shared>0</Shared>
			<None>0</None>
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	<infoTable>
		<nameOfIssuer>MAKEMYTRIP LIMITED MAURITIUS</nameOfIssuer>
		<titleOfClass>SHS</titleOfClass>
		<cusip>V5633W109</cusip>
		<value>339</value>
		<shrsOrPrnAmt>
			<sshPrnamt>22030</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>22030</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>MERCADOLIBRE INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>58733R102</cusip>
		<value>8598</value>
		<shrsOrPrnAmt>
			<sshPrnamt>7937</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>7937</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>IONIS PHARMACEUTICALS INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>462222100</cusip>
		<value>4350</value>
		<shrsOrPrnAmt>
			<sshPrnamt>91617</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>91617</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>ALCON AG</nameOfIssuer>
		<titleOfClass>ORD SHS</titleOfClass>
		<cusip>H01301128</cusip>
		<value>1965</value>
		<shrsOrPrnAmt>
			<sshPrnamt>34568</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>34568</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>SOCIEDAD QUIMICA Y MINERA DE</nameOfIssuer>
		<titleOfClass>SPON ADR SER B</titleOfClass>
		<cusip>833635105</cusip>
		<value>5059</value>
		<shrsOrPrnAmt>
			<sshPrnamt>155925</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>155925</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>CREDICORP LTD</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>G2519Y108</cusip>
		<value>3843</value>
		<shrsOrPrnAmt>
			<sshPrnamt>30970</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>30970</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
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	<infoTable>
		<nameOfIssuer>COPA HOLDINGS SA</nameOfIssuer>
		<titleOfClass>CL A</titleOfClass>
		<cusip>P31076105</cusip>
		<value>1582</value>
		<shrsOrPrnAmt>
			<sshPrnamt>31398</sshPrnamt>
			<sshPrnamtType>SH</sshPrnamtType>
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		<investmentDiscretion>SOLE</investmentDiscretion>
		<votingAuthority>
			<Sole>31398</Sole>
			<Shared>0</Shared>
			<None>0</None>
		</votingAuthority>
	</infoTable>
	<infoTable>
		<nameOfIssuer>ILLUMINA INC</nameOfIssuer>
		<titleOfClass>COM</titleOfClass>
		<cusip>452327109</cusip>
		<value>1718</value>
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