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 135,470 651,988 SH   SOLE   651,988 0 0
51JOB INC SPONSORED ADS 316827104 263,660 3,385,471 SH   SOLE   3,385,471 0 0
ABBOTT LABS COM 002824100 209,664 2,622,771 SH   SOLE   2,622,771 0 0
ADOBE INC COM 00724F101 24 90 SH   SOLE   90 0 0
AIR PRODS & CHEMS INC COM 009158106 61 320 SH   SOLE   320 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 944,486 5,176,685 SH   SOLE   5,176,685 0 0
ALLSTATE CORP COM 020002101 288 3,058 SH   SOLE   3,058 0 0
ALPHABET INC CAP STK CL A 02079K305 443,557 376,889 SH   SOLE   376,889 0 0
AMAZON COM INC COM 023135106 246,612 138,488 SH   SOLE   138,488 0 0
AMBEV SA SPONSORED ADR 02319V103 555,668 129,225,093 SH   SOLE   129,225,093 0 0
AMERISOURCEBERGEN CORP COM 03073E105 10 130 SH   SOLE   130 0 0
AMPHENOL CORP NEW CL A 032095101 66 700 SH   SOLE   700 0 0
ANSYS INC COM 03662Q105 14 78 SH   SOLE   78 0 0
ANTHEM INC COM 036752103 230 800 SH   SOLE   800 0 0
APPLE INC COM 037833100 260,307 1,370,398 SH   SOLE   1,370,398 0 0
ASML HOLDING N V N Y REGISTRY SHS N07059210 109 582 SH   SOLE   582 0 0
AUTOMATIC DATA PROCESSING IN COM 053015103 67 418 SH   SOLE   418 0 0
AVERY DENNISON CORP COM 053611109 68 600 SH   SOLE   600 0 0
BAIDU INC SPON ADR REP A 056752108 872,324 5,291,625 SH   SOLE   5,291,625 0 0
BANCO BILBAO VIZCAYA ARGENTA SPONSORED ADR 05946K101 171,849 29,991,107 SH   SOLE   29,991,107 0 0
BANCO BRADESCO S A SP ADR PFD NEW 059460303 279,690 25,636,139 SH   SOLE   25,636,139 0 0
BANCO MACRO SA SPON ADR B 05961W105 7,243 158,276 SH   SOLE   158,276 0 0
BANCO SANTANDER CHILE NEW SP ADR REP COM 05965X109 82,038 2,757,585 SH   SOLE   2,757,585 0 0
BANCO SANTANDER MEXICO S A SPONSORED ADS B 05969B103 69 10,152 SH   SOLE   10,152 0 0
BANCOLOMBIA S A SPON ADR PREF 05968L102 224,688 4,400,466 SH   SOLE   4,400,466 0 0
BOOKING HLDGS INC COM 09857L108 412,694 236,513 SH   SOLE   236,513 0 0
BORGWARNER INC COM 099724106 30 792 SH   SOLE   792 0 0
CANADIAN NATL RY CO COM 136375102 578,123 6,460,915 SH   SOLE   6,460,915 0 0
CHECK POINT SOFTWARE TECH LT ORD M22465104 1,096,332 8,667,342 SH   SOLE   8,667,342 0 0
CHINA MOBILE LIMITED SPONSORED ADR 16941M109 513,897 10,078,373 SH   SOLE   10,078,373 0 0
CHURCH & DWIGHT INC COM 171340102 7 94 SH   SOLE   94 0 0
CISCO SYS INC COM 17275R102 46 845 SH   SOLE   845 0 0
CNOOC LTD SPONSORED ADR 126132109 284,183 1,529,842 SH   SOLE   1,529,842 0 0
COCA COLA FEMSA S A B DE C V SPON ADR REP L 191241108 341 5,171 SH   SOLE   5,171 0 0
COGNEX CORP COM 192422103 158,572 3,117,822 SH   SOLE   3,117,822 0 0
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 158,778 2,191,554 SH   SOLE   2,191,554 0 0
COLGATE PALMOLIVE CO COM 194162103 183,098 2,671,404 SH   SOLE   2,671,404 0 0
COMPANHIA BRASILEIRA DE DIST SPN ADR PFD CL A 20440T201 107,158 4,602,997 SH   SOLE   4,602,997 0 0
CORE LABORATORIES N V COM N22717107 2,963 42,982 SH   SOLE   42,982 0 0
CREDICORP LTD COM G2519Y108 257,008 1,071,090 SH   SOLE   1,071,090 0 0
CTRIP COM INTL LTD SPONSORED ADS 22943F100 166,999 3,822,357 SH   SOLE   3,822,357 0 0
CVS HEALTH CORP COM 126650100 47 870 SH   SOLE   870 0 0
DANAHER CORPORATION COM 235851102 43 327 SH   SOLE   327 0 0
DEERE & CO COM 244199105 32 200 SH   SOLE   200 0 0
DIAGEO P L C SPON ADR NEW 25243Q205 174,072 1,063,948 SH   SOLE   1,063,948 0 0
DISNEY WALT CO COM DISNEY 254687106 166,811 1,502,400 SH   SOLE   1,502,400 0 0
EBAY INC COM 278642103 152,081 4,094,800 SH   SOLE   4,094,800 0 0
ECOLAB INC COM 278865100 71 400 SH   SOLE   400 0 0
ECOPETROL S A SPONSORED ADS 279158109 16,389 764,409 SH   SOLE   764,409 0 0
EMERSON ELEC CO COM 291011104 13 185 SH   SOLE   185 0 0
ENCANA CORP COM 292505104 52 7,239 SH   SOLE   7,239 0 0
ENERSYS COM 29275Y102 31 481 SH   SOLE   481 0 0
EPAM SYS INC COM 29414B104 335,940 1,986,282 SH   SOLE   1,986,282 0 0
EXPONENT INC COM 30214U102 10 175 SH   SOLE   175 0 0
EXXON MOBIL CORP COM 30231G102 218,183 2,700,288 SH   SOLE   2,700,288 0 0
FACEBOOK INC CL A 30303M102 176 1,058 SH   SOLE   1,058 0 0
FIRST REP BK SAN FRANCISCO C COM 33616C100 430,147 4,281,777 SH   SOLE   4,281,777 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 473,362 5,129,623 SH   SOLE   5,129,623 0 0
GARTNER INC COM 366651107 78 513 SH   SOLE   513 0 0
GRIFOLS S A SP ADR REP B NVT 398438408 356,436 17,724,292 SH   SOLE   17,724,292 0 0
GRUPO AEROPORTUARIO DEL SURE SPON ADR SER B 40051E202 171,706 1,061,489 SH   SOLE   1,061,489 0 0
GRUPO FINANCIERO GALICIA S A SPONSORED ADR 399909100 6,248 244,831 SH   SOLE   244,831 0 0
GRUPO TELEVISA SA SPON ADR REP ORD 40049J206 85,452 7,726,206 SH   SOLE   7,726,206 0 0
GUIDEWIRE SOFTWARE INC COM 40171V100 36 374 SH   SOLE   374 0 0
HDFC BANK LTD SPONSORED ADS 40415F101 533,172 4,614,987 SH   SOLE   4,614,987 0 0
HEALTHCARE SVCS GRP INC COM 421906108 36 1,095 SH   SOLE   1,095 0 0
HEICO CORP NEW COM 422806109 41 434 SH   SOLE   434 0 0
HELMERICH & PAYNE INC COM 423452101 23 407 SH   SOLE   407 0 0
HSBC HLDGS PLC SPON ADR NEW 404280406 98,298 2,501,756 SH   SOLE   2,501,756 0 0
ICICI BK LTD ADR 45104G104 647,038 56,385,148 SH   SOLE   56,385,148 0 0
IDEXX LABS INC COM 45168D104 16 70 SH   SOLE   70 0 0
ILLINOIS TOOL WKS INC COM 452308109 115 800 SH   SOLE   800 0 0
ILLUMINA INC COM 452327109 149,226 480,306 SH   SOLE   480,306 0 0
IPG PHOTONICS CORP COM 44980X109 154,584 1,018,473 SH   SOLE   1,018,473 0 0
IQVIA HLDGS INC COM 46266C105 14 100 SH   SOLE   100 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 742,244 84,198,077 SH   SOLE   84,198,077 0 0
JD COM INC SPON ADR CL A 47215P106 72,642 2,409,350 SH   SOLE   2,409,350 0 0
JOHNSON & JOHNSON COM 478160104 112 800 SH   SOLE   800 0 0
JPMORGAN CHASE & CO COM 46625H100 30 295 SH   SOLE   295 0 0
KANSAS CITY SOUTHERN COM NEW 485170302 40 341 SH   SOLE   341 0 0
LINDE PLC COM G5494J103 173,922 1,034,981 SH   SOLE   1,034,981 0 0
LOMA NEGRA CORP SPONSORED ADS 54150E104 4,132 377,386 SH   SOLE   377,386 0 0
LULULEMON ATHLETICA INC COM 550021109 48 290 SH   SOLE   290 0 0
MASTERCARD INC CL A 57636Q104 343,673 1,459,645 SH   SOLE   1,459,645 0 0
MCDONALDS CORP COM 580135101 74 390 SH   SOLE   390 0 0
MERCK & CO INC COM 58933Y105 73 880 SH   SOLE   880 0 0
METTLER TOLEDO INTERNATIONAL COM 592688105 22 30 SH   SOLE   30 0 0
MICROSOFT CORP COM 594918104 182,909 1,550,862 SH   SOLE   1,550,862 0 0
NETEASE INC SPONSORED ADR 64110W102 75 311 SH   SOLE   311 0 0
NEW ORIENTAL ED & TECH GRP I SPON ADR 647581107 134 1,492 SH   SOLE   1,492 0 0
NIKE INC CL B 654106103 278,681 3,309,364 SH   SOLE   3,309,364 0 0
NOBLE ENERGY INC COM 655044105 40 1,600 SH   SOLE   1,600 0 0
NVIDIA CORP COM 67066G104 230,060 1,281,244 SH   SOLE   1,281,244 0 0
PAYPAL HLDGS INC COM 70450Y103 685,977 6,606,095 SH   SOLE   6,606,095 0 0
PROCTER AND GAMBLE CO COM 742718109 163 1,569 SH   SOLE   1,569 0 0
PRUDENTIAL FINL INC COM 744320102 42 460 SH   SOLE   460 0 0
RED HAT INC COM 756577102 22 120 SH   SOLE   120 0 0
REGENERON PHARMACEUTICALS COM 75886F107 287,156 699,322 SH   SOLE   699,322 0 0
REINSURANCE GRP OF AMERICA I COM NEW 759351604 62 437 SH   SOLE   437 0 0
RESMED INC COM 761152107 70 672 SH   SOLE   672 0 0
ROLLINS INC COM 775711104 34 816 SH   SOLE   816 0 0
ROPER TECHNOLOGIES INC COM 776696106 555,350 1,623,971 SH   SOLE   1,623,971 0 0
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 144,250 2,255,655 SH   SOLE   2,255,655 0 0
SALESFORCE COM INC COM 79466L302 21 130 SH   SOLE   130 0 0
SAP SE SPON ADR 803054204 874,312 7,572,423 SH   SOLE   7,572,423 0 0
SASOL LTD SPONSORED ADR 803866300 85,345 2,758,405 SH   SOLE   2,758,405 0 0
SCHLUMBERGER LTD COM 806857108 469,831 10,783,357 SH   SOLE   10,783,357 0 0
SENSATA TECHNOLOGIES HLDNG P SHS G8060N102 605 13,434 SH   SOLE   13,434 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 86 671 SH   SOLE   671 0 0
SVB FINL GROUP COM 78486Q101 143,555 645,596 SH   SOLE   645,596 0 0
SYNOPSYS INC COM 871607107 70 605 SH   SOLE   605 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100 968,752 23,651,165 SH   SOLE   23,651,165 0 0
TELECOM ARGENTINA S A SPON ADR REP B 879273209 3,881 265,828 SH   SOLE   265,828 0 0
TENARIS S A SPONSORED ADS 88031M109 196,091 6,941,272 SH   SOLE   6,941,272 0 0
TEXAS INSTRS INC COM 882508104 12 110 SH   SOLE   110 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 16 60 SH   SOLE   60 0 0
TIFFANY & CO NEW COM 886547108 64 608 SH   SOLE   608 0 0
TRANSOCEAN LTD REG SHS H8817H100 2 218 SH   SOLE   218 0 0
ULTRAPAR PARTICIPACOES S A SP ADR REP COM 90400P101 2,337 195,546 SH   SOLE   195,546 0 0
UNILEVER PLC SPON ADR NEW 904767704 164,061 2,842,367 SH   SOLE   2,842,367 0 0
UNITEDHEALTH GROUP INC COM 91324P102 3,706 14,990 SH   SOLE   14,990 0 0
VANGUARD INTL EQUITY INDEX F ALLWRLD EX US 922042775 216 4,310 SH   SOLE   4,310 0 0
VERISK ANALYTICS INC COM 92345Y106 428,219 3,219,691 SH   SOLE   3,219,691 0 0
VERTEX PHARMACEUTICALS INC COM 92532F100 138,338 752,044 SH   SOLE   752,044 0 0
VISA INC COM CL A 92826C839 41 260 SH   SOLE   260 0 0
WABCO HLDGS INC COM 92927K102 227,382 1,724,811 SH   SOLE   1,724,811 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 157,031 2,481,933 SH   SOLE   2,481,933 0 0
WATERS CORP COM 941848103 246,320 978,584 SH   SOLE   978,584 0 0
WEIBO CORP SPONSORED ADR 948596101 88,510 1,427,815 SH   SOLE   1,427,815 0 0
WORKDAY INC CL A 98138H101 27 140 SH   SOLE   140 0 0
YANDEX N V SHS CLASS A N97284108 595,812 17,350,380 SH   SOLE   17,350,380 0 0
ZOETIS INC CL A 98978V103 38 380 SH   SOLE   380 0 0