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
ADECOAGRO S A COM L00849106 26,718 3,605,765 SH   SOLE   3,605,765 0 0
ADOBE SYS INC COM 00724F101 72,654 1,398,851 SH   SOLE   1,398,851 0 0
AGCO CORP COM 001084102 53,610 887,313 SH   SOLE   887,313 0 0
AGRIUM INC COM 008916108 91,130 1,084,479 SH   SOLE   1,084,479 0 0
APPLE INC COM 037833100 198,035 415,389 SH   SOLE   415,389 0 0
ASHLAND INC NEW COM 044209104 76,286 824,893 SH   SOLE   824,893 0 0
AXIALL CORP COM 05463D100 54,286 1,436,575 SH   SOLE   1,436,575 0 0
BANK OF AMERICA CORPORATION COM 060505104 115,636 8,379,192 SH   SOLE   8,379,192 0 0
BRASKEM S A SP ADR PFD A 105532105 59,572 3,734,800 SH   SOLE   3,734,800 0 0
BUNGE LIMITED COM G16962105 250,508 3,300,062 SH   SOLE   3,300,062 0 0
CALPINE CORP COM NEW 131347304 228,012 11,735,173 SH   SOLE   11,735,173 0 0
CATERPILLAR INC DEL COM 149123101 61,484 737,485 SH   SOLE   737,485 0 0
CELLULAR DYNAMICS INTL INC COM 15117V109 658 35,749 SH   SOLE   35,749 0 0
CF INDS HLDGS INC COM 125269100 340,458 1,614,835 SH   SOLE   1,614,835 0 0
CITRIX SYS INC COM 177376100 52,380 741,790 SH   SOLE   741,790 0 0
COMPANHIA DE BEBIDAS DAS AME SPON ADR PFD 20441W203 265,901 6,933,501 SH   SOLE   6,933,501 0 0
CONAGRA FOODS INC COM 205887102 10,642 350,740 SH   SOLE   350,740 0 0
CREDICORP LTD COM G2519Y108 101,145 787,359 SH   SOLE   787,359 0 0
CRESUD S A C I F Y A SPONSORED ADR 226406106 13,605 1,558,395 SH   SOLE   1,558,395 0 0
CSX CORP COM 126408103 228,782 8,888,083 SH   SOLE   8,888,083 0 0
DARLING INTL INC COM 237266101 16,582 783,692 SH   SOLE   783,692 0 0
DOW CHEM CO COM 260543103 254,806 6,635,614 SH   SOLE   6,635,614 0 0
ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 59,577 1,144,143 SH   SOLE   1,144,143 0 0
FEDEX CORP COM 31428X106 108,067 947,057 SH   SOLE   947,057 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 158,853 4,802,046 SH   SOLE   4,802,046 0 0
FRESH MKT INC COM 35804H106 36,288 767,067 SH   SOLE   767,067 0 0
GRUPO TELEVISA SA SPON ADR REP ORD 40049J206 94,289 3,373,570 SH   SOLE   3,373,570 0 0
HAIN CELESTIAL GROUP INC COM 405217100 113,627 1,473,418 SH   SOLE   1,473,418 0 0
HARLEY DAVIDSON INC COM 412822108 36,701 571,306 SH   SOLE   571,306 0 0
HILLSHIRE BRANDS CO COM 432589109 15,181 493,844 SH   SOLE   493,844 0 0
HOME INNS & HOTELS MGMT INC SPON ADR 43713W107 46,469 1,399,669 SH   SOLE   1,399,669 0 0
ICICI BK LTD ADR 45104G104 220,645 7,238,932 SH   SOLE   7,238,932 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 207,569 14,700,479 SH   SOLE   14,700,479 0 0
KINDER MORGAN INC DEL COM 49456B101 77,776 2,186,590 SH   SOLE   2,186,590 0 0
LABORATORY CORP AMER HLDGS COM NEW 50540R409 204,267 2,060,364 SH   SOLE   2,060,364 0 0
LAUDER ESTEE COS INC CL A 518439104 48,156 688,940 SH   SOLE   688,940 0 0
LAZARD LTD SHS A G54050102 68,462 1,900,619 SH   SOLE   1,900,619 0 0
MINDRAY MEDICAL INTL LTD SPON ADR 602675100 36,380 935,461 SH   SOLE   935,461 0 0
MONDELEZ INTL INC CL A 609207105 78,710 2,505,153 SH   SOLE   2,505,153 0 0
MOSAIC CO NEW COM 61945C103 343,988 7,996,048 SH   SOLE   7,996,048 0 0
NAVISTAR INTL CORP NEW COM 63934E108 85,682 2,348,680 SH   SOLE   2,348,680 0 0
NCR CORP NEW COM 62886E108 178,675 4,510,836 SH   SOLE   4,510,836 0 0
NEWMONT MINING CORP COM 651639106 29,662 1,055,547 SH   SOLE   1,055,547 0 0
NIKE INC CL B 654106103 57,657 793,706 SH   SOLE   793,706 0 0
NRG ENERGY INC COM NEW 629377508 58,755 2,149,726 SH   SOLE   2,149,726 0 0
ORACLE CORP COM 68389X105 214,238 6,458,783 SH   SOLE   6,458,783 0 0
PERKINELMER INC COM 714046109 4,883 129,343 SH   SOLE   129,343 0 0
POTASH CORP SASK INC COM 73755L107 313,123 10,010,310 SH   SOLE   10,010,310 0 0
SAFEWAY INC COM NEW 786514208 20,706 647,255 SH   SOLE   647,255 0 0
SENOMYX INC COM 81724Q107 4,087 1,157,780 SH   SOLE   1,157,780 0 0
STANLEY BLACK & DECKER INC COM 854502101 59,510 657,091 SH   SOLE   657,091 0 0
STARWOOD HOTELS&RESORTS WRLD COM 85590A401 75,332 1,133,638 SH   SOLE   1,133,638 0 0
SUNOPTA INC COM 8676EP108 33,701 3,467,226 SH   SOLE   3,467,226 0 0
TEEKAY CORPORATION COM Y8564W103 28,636 669,871 SH   SOLE   669,871 0 0
TESORO CORP COM 881609101 99,736 2,267,779 SH   SOLE   2,267,779 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 124,179 1,347,554 SH   SOLE   1,347,554 0 0
TREEHOUSE FOODS INC COM 89469A104 38,721 579,408 SH   SOLE   579,408 0 0
TUMI HLDGS INC COM 89969Q104 39,032 1,937,148 SH   SOLE   1,937,148 0 0
V F CORP COM 918204108 62,969 316,336 SH   SOLE   316,336 0 0
VALERO ENERGY CORP NEW COM 91913Y100 84,533 2,475,371 SH   SOLE   2,475,371 0 0
WESTERN REFNG INC COM 959319104 57,678 1,920,056 SH   SOLE   1,920,056 0 0
WEYERHAEUSER CO COM 962166104 170,975 5,971,945 SH   SOLE   5,971,945 0 0
WHITEWAVE FOODS CO COM CL A 966244105 19,653 984,122 SH   SOLE   984,122 0 0
YUM BRANDS INC COM 988498101 100,246 1,404,201 SH   SOLE   1,404,201 0 0
ZOETIS INC CL A 98978V103 16,122 518,027 SH   SOLE   518,027 0 0