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
YPF SOCIEDAD ANONIMA D ADR COMMON STOCK 984245100 23,655 639,500 SH   DFND 1,2,3 639,500 0 0
YANDEX NV A COMMON STOCK B5BSZB3 105,197 3,784,750 SH   DFND 1,2,3 3,784,750 0 0
XILINX INC COMMON STOCK 983919101 72 1,700 SH   DFND 1,2,3 1,700 0 0
WHIRLPOOL CORP COMMON STOCK 963320106 6,219 42,700 SH   DFND 1,2,3 42,700 0 0
WELLS FARGO & CO COMMON STOCK 949746101 13,673 263,600 SH   DFND 1,2,3 263,600 0 0
VISA INC CL A COMMON STOCK 92826C839 13,581 63,650 SH   DFND 1,2,3 63,650 0 0
VERIZON COMMUNICATIONS INC COMMON STOCK 92343V104 273 5,460 SH   DFND 1,2,3 5,460 0 0
VERISIGN INC COMMON STOCK 92343E102 15,731 285,400 SH   DFND 1,2,3 285,400 0 0
VALE SA PNA ADR COMMON STOCK 91912E204 6,617 681,500 SH   DFND 1,2,3 681,500 0 0
VALE SA ON ADR COMMON STOCK 91912E105 30,431 2,763,900 SH   DFND 1,2,3 2,763,900 0 0
UNITED TECHNOLOGIES CORP COMMON STOCK 913017109 1,953 18,491 SH   DFND 1,2,3 18,491 0 0
UMPQUA HOLDINGS CORP COMMON STOCK 904214103 155 9,400 SH   DFND 1,2,3 9,400 0 0
UBS AG NAMEN COMMON STOCK B18YFJ4 5,933 340,282 SH   DFND 1,2,3 340,282 0 0
TOWERS WATSON & CO CL A COMMON STOCK 891894107 2,488 25,000 SH   DFND 1,2,3 25,000 0 0
TIM PARTICIPACOES SA ON ADR COMMON STOCK 88706P205 2,767 105,600 SH   DFND 1,2,3 105,600 0 0
TEXAS INSTRUMENTS INC COMMON STOCK 882508104 91 1,900 SH   DFND 1,2,3 1,900 0 0
TENARIS SA ADR COMMON STOCK 88031M109 20,577 451,746 SH   DFND 1,2,3 451,746 0 0
TAIWAN SEMICONDUCTOR MFG CO ADR COMMON STOCK 874039100 1,533 75,948 SH   DFND 1,2,3 75,948 0 0
TABLEAU SOFTWARE INC CL A COMMON STOCK 87336U105 2,732 37,600 SH   DFND 1,2,3 37,600 0 0
STARBUCKS CORP COMMON STOCK 855244109 11,387 150,900 SH   DFND 1,2,3 150,900 0 0
SEATTLE GENETICS INC COMMON STOCK 812578102 10,436 280,700 SH   DFND 1,2,3 280,700 0 0
SEADRILL LTD COMMON STOCK B09RMQ1 7,978 297,383 SH   DFND 1,2,3 297,383 0 0
SCRIPPS NETWORKS INTERACTIVE INC CL A COMMON STOCK 811065101 2,171 27,800 SH   DFND 1,2,3 27,800 0 0
SCHLUMBERGER LTD COMMON STOCK 806857108 15,825 155,622 SH   DFND 1,2,3 155,622 0 0
ROYAL CARIBBEAN CRUISES LTD COMMON STOCK 2754907 13,667 203,100 SH   DFND 1,2,3 203,100 0 0
QUEST DIAGNOSTICS INC COMMON STOCK 74834L100 789 13,000 SH   DFND 1,2,3 13,000 0 0
PROCTER & GAMBLE CO COMMON STOCK 742718109 13,189 157,500 SH   DFND 1,2,3 157,500 0 0
PRAXAIR INC COMMON STOCK 74005P104 9,133 70,800 SH   DFND 1,2,3 70,800 0 0
POLYPORE INTERNATIONAL INC COMMON STOCK 73179V103 7,685 197,500 SH   DFND 1,2,3 197,500 0 0
PHILIPPINE LDTEL ADR COMMON STOCK 718252604 55 800 SH   DFND 1,2,3 800 0 0
PHILIP MORRIS INTERNATIONAL COMMON STOCK 718172109 6,918 82,949 SH   DFND 1,2,3 82,949 0 0
PFIZER INC COMMON STOCK 717081103 92 3,100 SH   DFND 1,2,3 3,100 0 0
PAYCHEX INC COMMON STOCK 704326107 97 2,200 SH   DFND 1,2,3 2,200 0 0
PACWEST BANCORP COMMON STOCK 695263103 49 1,200 SH   DFND 1,2,3 1,200 0 0
ORACLE CORP COMMON STOCK 68389X105 8,992 234,900 SH   DFND 1,2,3 234,900 0 0
ON SEMICONDUCTOR CORP COMMON STOCK 682189105 2,478 277,200 SH   DFND 1,2,3 277,200 0 0
OI SA ON ADR COMMON STOCK 670851104 25 34,141 SH   DFND 1,2,3 34,141 0 0
NUCOR CORP COMMON STOCK 670346105 56 1,040 SH   DFND 1,2,3 1,040 0 0
NORFOLK SOUTHERN CORP COMMON STOCK 655844108 1,158 10,378 SH   DFND 1,2,3 10,378 0 0
NOBLE ENERGY INC COMMON STOCK 655044105 11,211 164,000 SH   DFND 1,2,3 164,000 0 0
NIELSEN NV COMMON STOCK B4NTRF5 16,810 379,200 SH   DFND 1,2,3 379,200 0 0
NEWELL RUBBERMAID INC COMMON STOCK 651229106 7,704 223,900 SH   DFND 1,2,3 223,900 0 0
NEW ORIENTAL EDU & TECH GRP INC ADR COMMON STOCK 647581107 18,866 813,200 SH   DFND 1,2,3 813,200 0 0
NETAPP INC COMMON STOCK 64110D104 2,792 65,000 SH   DFND 1,2,3 65,000 0 0
MOSAIC COMPANY (THE) COMMON STOCK 61945C103 7,745 174,400 SH   DFND 1,2,3 174,400 0 0
MONSANTO CO COMMON STOCK 61166W101 3,131 27,829 SH   DFND 1,2,3 27,829 0 0
MONDELEZ INTERNATIONAL INC COMMON STOCK 609207105 2,138 62,400 SH   DFND 1,2,3 62,400 0 0
MINDRAY MEDICAL INTL LTD CL A ADR COMMON STOCK 602675100 17,888 593,100 SH   DFND 1,2,3 593,100 0 0
MICROSOFT CORP COMMON STOCK 594918104 13,041 281,300 SH   DFND 1,2,3 281,300 0 0
MERCURY GENERAL CORP COMMON STOCK 589400100 78 1,600 SH   DFND 1,2,3 1,600 0 0
MERCK & CO INC COMMON STOCK 58933Y105 6,450 108,800 SH   DFND 1,2,3 108,800 0 0
MERCADOLIBRE INC COMMON STOCK 58733R102 30,846 283,900 SH   DFND 1,2,3 283,900 0 0
MELCO CROWN ENTERTAINMENT LTD ADR COMMON STOCK 585464100 80,374 3,057,200 SH   DFND 1,2,3 3,057,200 0 0
MARSH & MCLENNAN COMPANIES INC COMMON STOCK 571748102 15,555 297,200 SH   DFND 1,2,3 297,200 0 0
LYONDELLBASELL INDUSTRIES NV COMMON STOCK B3SPXZ3 108 990 SH   DFND 1,2,3 990 0 0
LULULEMON ATHLETICA INC COMMON STOCK 550021109 3,735 88,900 SH   DFND 1,2,3 88,900 0 0
LIBERTY GLOBAL PLC CL A COMMON STOCK B8W6766 6,572 154,500 SH   DFND 1,2,3 154,500 0 0
LEGGETT & PLATT INC COMMON STOCK 524660107 115 3,300 SH   DFND 1,2,3 3,300 0 0
KINDER MORGAN INC COMMON STOCK 49456B101 50 1,300 SH   DFND 1,2,3 1,300 0 0
JPMORGAN CHASE & CO COMMON STOCK 46625H100 10,125 168,071 SH   DFND 1,2,3 168,071 0 0
JABIL CIRCUIT INC COMMON STOCK 466313103 2,679 132,800 SH   DFND 1,2,3 132,800 0 0
ITAU UNIBANCO HOLDING SA PN ADR COMMON STOCK 465562106 44,727 3,222,424 SH   DFND 1,2,3 3,222,424 0 0
IRON MOUNTAIN INC (REIT) COMMON STOCK 462846106 4,251 130,206 SH   DFND 1,2,3 130,206 0 0
INTERCONTINENTAL EXCHANGE INC COMMON STOCK 45866F104 4,662 23,900 SH   DFND 1,2,3 23,900 0 0
INFOSYS LTD ADR COMMON STOCK 456788108 6,581 108,800 SH   DFND 1,2,3 108,800 0 0
IDEX CORP COMMON STOCK 45167R104 4,990 68,952 SH   DFND 1,2,3 68,952 0 0
ICICI BANK LTD ADR COMMON STOCK 45104G104 84,270 1,716,300 SH   DFND 1,2,3 1,716,300 0 0
HOME DEPOT INC COMMON STOCK 437076102 6,403 69,800 SH   DFND 1,2,3 69,800 0 0
HEXCEL CORPORATION COMMON STOCK 428291108 7,217 181,800 SH   DFND 1,2,3 181,800 0 0
HDFC BANK LTD ADR COMMON STOCK 40415F101 2,949 63,300 SH   DFND 1,2,3 63,300 0 0
HALLIBURTON CO COMMON STOCK 406216101 5,817 90,176 SH   DFND 1,2,3 90,176 0 0
GRANA Y MONTERO SAA ADR COMMON STOCK 38500P208 9,568 637,000 SH   DFND 1,2,3 637,000 0 0
GOOGLE INC CL A COMMON STOCK 38259P508 14,082 23,933 SH   DFND 1,2,3 23,933 0 0
GOLDMAN SACHS GROUP INC COMMON STOCK 38141G104 36,323 197,870 SH   DFND 1,2,3 197,870 0 0
GOLAR LNG LTD (USD) COMMON STOCK 2367963 4,641 69,900 SH   DFND 1,2,3 69,900 0 0
GILEAD SCIENCES INC COMMON STOCK 375558103 62,901 590,900 SH   DFND 1,2,3 590,900 0 0
GERDAU SA PN ADR COMMON STOCK 373737105 45,220 9,420,900 SH   DFND 1,2,3 9,420,900 0 0
FREESCALE SEMICONDUCTOR LTD COMMON STOCK B4349B0 2,613 133,800 SH   DFND 1,2,3 133,800 0 0
FREEPORT-MCMORAN INC COMMON STOCK 35671D857 3,084 94,454 SH   DFND 1,2,3 94,454 0 0
EXPRESS SCRIPTS HOLDING CO COMMON STOCK 30219G108 3,510 49,700 SH   DFND 1,2,3 49,700 0 0
ENSCO PLC CL A COMMON STOCK B4VLR19 3,425 82,900 SH   DFND 1,2,3 82,900 0 0
ENERSIS SA ADR COMMON STOCK 29274F104 42,253 2,677,608 SH   DFND 1,2,3 2,677,608 0 0
ENBRIDGE INC COMMON STOCK 29250N105 11,216 233,800 SH   DFND 1,2,3 233,800 0 0
EDISON INTERNATIONAL COMMON STOCK 281020107 73 1,300 SH   DFND 1,2,3 1,300 0 0
EATON CORP PLC COMMON STOCK B8KQN82 16,856 266,000 SH   DFND 1,2,3 266,000 0 0
DREAMWORKS ANIMATION SKG INC CL A COMMON STOCK 26153C103 1,794 65,784 SH   DFND 1,2,3 65,784 0 0
DOW CHEMICAL CO COMMON STOCK 260543103 79 1,500 SH   DFND 1,2,3 1,500 0 0
DEUTSCHE BANK AG NAMEN COMMON STOCK 5750355 5,965 170,018 SH   DFND 1,2,3 170,018 0 0
DELPHI AUTOMOTIVE PLC COMMON STOCK B783TY6 12,213 199,100 SH   DFND 1,2,3 199,100 0 0
DANAHER CORP COMMON STOCK 235851102 18,102 238,248 SH   DFND 1,2,3 238,248 0 0
CTRIP.COM INTL ADR COMMON STOCK 22943F100 9,273 163,373 SH   DFND 1,2,3 163,373 0 0
CRESCENT POINT ENERGY CORP COMMON STOCK 22576C101 174 4,800 SH   DFND 1,2,3 4,800 0 0
CONOCOPHILLIPS COMMON STOCK 20825C104 10,056 131,420 SH   DFND 1,2,3 131,420 0 0
COMCAST CORP CL A COMMON STOCK 20030N101 9,605 178,600 SH   DFND 1,2,3 178,600 0 0
COCA-COLA CO COMMON STOCK 191216100 448 10,500 SH   DFND 1,2,3 10,500 0 0
COBALT INTERNATIONAL ENERGY INC COMMON STOCK 19075F106 68,868 5,063,850 SH   DFND 1,2,3 5,063,850 0 0
COACH INC COMMON STOCK 189754104 862 24,200 SH   DFND 1,2,3 24,200 0 0
CME GROUP INC CL A COMMON STOCK 12572Q105 13,613 170,260 SH   DFND 1,2,3 170,260 0 0
CHEVRON CORP COMMON STOCK 166764100 30,495 255,573 SH   DFND 1,2,3 255,573 0 0
CERNER CORPORATION COMMON STOCK 156782104 1,450 24,336 SH   DFND 1,2,3 24,336 0 0
CENTURYLINK INC COMMON STOCK 156700106 49 1,200 SH   DFND 1,2,3 1,200 0 0
CENOVUS ENERGY INC COMMON STOCK 15135U109 14,372 533,067 SH   DFND 1,2,3 533,067 0 0
CEMEX SAB DE CV CPO UNIT ADR (2 A SHRS + 1 B SHR) COMMON STOCK 151290889 92,590 7,100,470 SH   DFND 1,2,3 7,100,470 0 0
CATERPILLAR INC COMMON STOCK 149123101 9,002 90,900 SH   DFND 1,2,3 90,900 0 0
CAMECO CORP COMMON STOCK 13321L108 971 54,935 SH   DFND 1,2,3 54,935 0 0
BROADCOM CORP CL A COMMON STOCK 111320107 7,785 192,600 SH   DFND 1,2,3 192,600 0 0
BRISTOL-MYERS SQUIBB CO COMMON STOCK 110122108 18,247 356,530 SH   DFND 1,2,3 356,530 0 0
BRF SA ON ADR COMMON STOCK 10552T107 6,718 282,400 SH   DFND 1,2,3 282,400 0 0
BOEING CO COMMON STOCK 097023105 15,872 124,600 SH   DFND 1,2,3 124,600 0 0
BLACKROCK INC COMMON STOCK 09247X101 2,264 6,896 SH   DFND 1,2,3 6,896 0 0
BANCO BRADESCO SA PN ADR COMMON STOCK 059460303 41,699 2,926,265 SH   DFND 1,2,3 2,926,265 0 0
AVAGO TECHNOLOGIES LTD COMMON STOCK B3WS2X9 6,160 70,800 SH   DFND 1,2,3 70,800 0 0
ASML HOLDING NV (USD) COMMON STOCK B908F01 1,781 18,021 SH   DFND 1,2,3 18,021 0 0
ARCOS DORADOS HOLDINGS INC CL A COMMON STOCK B529PQ0 24,542 4,104,032 SH   DFND 1,2,3 4,104,032 0 0
APPLE INC COMMON STOCK 037833100 15,913 157,950 SH   DFND 1,2,3 157,950 0 0
AON PLC CL A COMMON STOCK B5BT0K0 3,033 34,600 SH   DFND 1,2,3 34,600 0 0
AMERICAN TOWER CORP (REIT) COMMON STOCK 03027X100 20,177 215,492 SH   DFND 1,2,3 215,492 0 0
AMERICA MOVIL SAB DE CV L ADR COMMON STOCK 02364W105 6,527 259,000 SH   DFND 1,2,3 259,000 0 0
AMAZON.COM INC COMMON STOCK 023135106 5,578 17,300 SH   DFND 1,2,3 17,300 0 0
ALLEGHENY TECHNOLOGIES INC COMMON STOCK 01741R102 2,142 57,737 SH   DFND 1,2,3 57,737 0 0
ALIBABA GROUP HOLDING LTD ADR COMMON STOCK 01609W102 16,437 185,000 SH   DFND 1,2,3 185,000 0 0
AIR PRODUCTS & CHEMICALS INC COMMON STOCK 009158106 98 750 SH   DFND 1,2,3 750 0 0
AES CORP (THE) COMMON STOCK 00130H105 45,465 3,206,300 SH   DFND 1,2,3 3,206,300 0 0
ACE LTD COMMON STOCK B3BQMF6 4,174 39,800 SH   DFND 1,2,3 39,800 0 0
ACCENTURE PLC CL A COMMON STOCK B4BNMY3 4,172 51,300 SH   DFND 1,2,3 51,300 0 0
ABBVIE INC COMMON STOCK 00287Y109 6,316 109,350 SH   DFND 1,2,3 109,350 0 0