The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
3M CO COM 88579Y101 180,520 1,094,394 SH   SOLE 1,094,394 0 0
51JOB INC SP ADR REP COM 316827104 79,313 2,458,184 SH   SOLE 2,458,184 0 0
ABBOTT LABS COM 002824100 146,718 3,166,802 SH   SOLE 3,166,802 0 0
ABBVIE INC COM 00287Y109 155,691 2,659,565 SH   SOLE 2,659,565 0 0
ALLSTATE CORP COM 020002101 218 3,058 SH   SOLE 3,058 0 0
AMAZON COM INC COM 023135106 150,772 405,192 SH   SOLE 405,192 0 0
AMBEV SA SPONSORED ADR 02319V103 77,150 13,394,052 SH   SOLE 13,394,052 0 0
AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 119,113 5,821,741 SH   SOLE 5,821,741 0 0
AMERICAN EXPRESS CO COM 025816109 136,465 1,746,866 SH   SOLE 1,746,866 0 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 235,735 1,933,683 SH   SOLE 1,933,683 0 0
ARM HLDGS PLC SPONSORED ADR 042068106 305,333 6,193,376 SH   SOLE 6,193,376 0 0
ASML HOLDING N V N Y REGISTRY SHS N07059210 274 2,710 SH   SOLE 2,710 0 0
BAIDU INC SPON ADR REP A 056752108 680,093 3,263,402 SH   SOLE 3,263,402 0 0
BANCO BILBAO VIZCAYA ARGENTA SPONSORED ADR 05946K101 79,920 7,968,081 SH   SOLE 7,968,081 0 0
BANCO BRADESCO S A SP ADR PFD NEW 059460303 124,906 13,459,680 SH   SOLE 13,459,680 0 0
BANCO SANTANDER CHILE NEW SP ADR REP COM 05965X109 84,864 3,914,408 SH   SOLE 3,914,408 0 0
BANCOLOMBIA S A SPON ADR PREF 05968L102 66,900 1,700,981 SH   SOLE 1,700,981 0 0
BORGWARNER INC COM 099724106 168,651 2,788,537 SH   SOLE 2,788,537 0 0
BUNGE LIMITED COM G16962105 413,287 5,018,056 SH   SOLE 5,018,056 0 0
CANADIAN NATL RY CO COM 136375102 349,760 5,230,453 SH   SOLE 5,230,453 0 0
CHINA MOBILE LIMITED SPONSORED ADR 16941M109 110,860 1,704,745 SH   SOLE 1,704,745 0 0
CITRIX SYS INC COM 177376100 159,334 2,494,658 SH   SOLE 2,494,658 0 0
CNOOC LTD SPONSORED ADR 126132109 90,236 636,269 SH   SOLE 636,269 0 0
COLGATE PALMOLIVE CO COM 194162103 221,168 3,189,622 SH   SOLE 3,189,622 0 0
COMPANHIA BRASILEIRA DE DIST SPN ADR PFD CL A 20440T201 107,917 3,618,958 SH   SOLE 3,618,958 0 0
COPA HOLDINGS SA CL A P31076105 7,335 72,650 SH   SOLE 72,650 0 0
CREDICORP LTD COM G2519Y108 133,716 950,838 SH   SOLE 950,838 0 0
CTRIP COM INTL LTD AMERICAN DEP SHS 22943F100 88,340 1,507,001 SH   SOLE 1,507,001 0 0
DAVITA HEALTHCARE PARTNERS I COM 23918K108 272,263 3,349,691 SH   SOLE 3,349,691 0 0
EBAY INC COM 278642103 321,622 5,575,959 SH   SOLE 5,575,959 0 0
ECOPETROL S A SPONSORED ADS 279158109 2,336 153,500 SH   SOLE 153,500 0 0
EMERSON ELEC CO COM 291011104 147,605 2,606,924 SH   SOLE 2,606,924 0 0
EXXON MOBIL CORP COM 30231G102 173,231 2,038,020 SH   SOLE 2,038,020 0 0
F5 NETWORKS INC COM 315616102 166,116 1,445,240 SH   SOLE 1,445,240 0 0
FACEBOOK INC CL A 30303M102 135,900 1,652,983 SH   SOLE 1,652,983 0 0
FIRST CASH FINL SVCS INC COM 31942D107 745 16,020 SH   SOLE 16,020 0 0
FIRST REP BK SAN FRANCISCO C COM 33616C100 249,043 4,362,275 SH   SOLE 4,362,275 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 40,911 437,551 SH   SOLE 437,551 0 0
FRESENIUS MED CARE AG&CO KGA SPONSORED ADR 358029106 89,374 2,156,195 SH   SOLE 2,156,195 0 0
GOOGLE INC CL A 38259P508 277,128 499,600 SH   SOLE 499,600 0 0
GRIFOLS S A SP ADR REP B NVT 398438408 59,649 1,818,018 SH   SOLE 1,818,018 0 0
GRUPO AEROPORTUARIO DEL SURE SPON ADR SER B 40051E202 106,640 793,331 SH   SOLE 793,331 0 0
GRUPO TELEVISA SA SPON ADR REP ORD 40049J206 111,292 3,371,463 SH   SOLE 3,371,463 0 0
HDFC BANK LTD ADR REPS 3 SHS 40415F101 174,423 2,961,846 SH   SOLE 2,961,846 0 0
ICICI BK LTD ADR 45104G104 574,559 55,459,358 SH   SOLE 55,459,358 0 0
IMPERIAL OIL LTD COM NEW 453038408 280,680 7,038,104 SH   SOLE 7,038,104 0 0
IMS HEALTH HLDGS INC COM 44970B109 131,964 4,874,908 SH   SOLE 4,874,908 0 0
INFORMATICA CORP COM 45666Q102 335 7,646 SH   SOLE 7,646 0 0
IPG PHOTONICS CORP COM 44980X109 179,384 1,935,097 SH   SOLE 1,935,097 0 0
ISHARES TR MSCI INDIA ETF 46429B598 37,346 1,163,800 SH   SOLE 1,163,800 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 228,013 20,615,970 SH   SOLE 20,615,970 0 0
JPMORGAN CHASE & CO COM 46625H100 167,117 2,758,617 SH   SOLE 2,758,617 0 0
LUXOTTICA GROUP S P A SPONSORED ADR 55068R202 1,142 18,210 SH   SOLE 18,210 0 0
MASTERCARD INC CL A 57636Q104 287,040 3,322,615 SH   SOLE 3,322,615 0 0
MICROSOFT CORP COM 594918104 120,097 2,954,059 SH   SOLE 2,954,059 0 0
MONSANTO CO NEW COM 61166W101 248,556 2,208,603 SH   SOLE 2,208,603 0 0
NIKE INC CL B 654106103 398,283 3,969,732 SH   SOLE 3,969,732 0 0
NOVO-NORDISK A S ADR 670100205 138,880 2,601,233 SH   SOLE 2,601,233 0 0
PHILIPPINE LONG DISTANCE TEL SPONSORED ADR 718252604 2,968 47,500 SH   SOLE 47,500 0 0
PRAXAIR INC COM 74005P104 100,904 835,707 SH   SOLE 835,707 0 0
PRECISION CASTPARTS CORP COM 740189105 311 1,480 SH   SOLE 1,480 0 0
PRICESMART INC COM 741511109 9,940 116,970 SH   SOLE 116,970 0 0
PROCTER & GAMBLE CO COM 742718109 111,326 1,358,623 SH   SOLE 1,358,623 0 0
ROPER INDS INC NEW COM 776696106 333,874 1,941,128 SH   SOLE 1,941,128 0 0
SALESFORCE COM INC COM 79466L302 129,017 1,931,110 SH   SOLE 1,931,110 0 0
SAP SE SPON ADR 803054204 476,651 6,604,561 SH   SOLE 6,604,561 0 0
SASOL LTD SPONSORED ADR 803866300 37,840 1,111,637 SH   SOLE 1,111,637 0 0
SCHLUMBERGER LTD COM 806857108 591,503 7,088,956 SH   SOLE 7,088,956 0 0
SHIRE PLC SPONSORED ADR 82481R106 65,153 272,276 SH   SOLE 272,276 0 0
SVB FINL GROUP COM 78486Q101 269,573 2,121,959 SH   SOLE 2,121,959 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 375,423 15,989,087 SH   SOLE 15,989,087 0 0
TENARIS S A SPONSORED ADR 88031M109 65,055 2,323,382 SH   SOLE 2,323,382 0 0
TRIMBLE NAVIGATION LTD COM 896239100 106,039 4,207,932 SH   SOLE 4,207,932 0 0
UNILEVER PLC SPON ADR NEW 904767704 58,053 1,391,825 SH   SOLE 1,391,825 0 0
V F CORP COM 918204108 361 4,800 SH   SOLE 4,800 0 0
VERISK ANALYTICS INC CL A 92345Y106 141,621 1,983,499 SH   SOLE 1,983,499 0 0
WATERS CORP COM 941848103 144,345 1,161,077 SH   SOLE 1,161,077 0 0
WELLS FARGO & CO NEW COM 949746101 261,953 4,815,322 SH   SOLE 4,815,322 0 0
WPP PLC NEW ADR 92937A102 185,448 1,630,024 SH   SOLE 1,630,024 0 0
YANDEX N V SHS CLASS A N97284108 47,159 3,109,750 SH   SOLE 3,109,750 0 0