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
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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 27,385 3,355,962 SH   SOLE   549,618 0 2,806,344
ADOBE SYS INC COM 00724F101 55,914 850,492 SH   SOLE   653,402 0 197,090
AGCO CORP COM 001084102 8,641 156,666 SH   SOLE   33,801 0 122,865
AGRIUM INC COM 008916108 124,489 1,276,537 SH   SOLE   257,726 0 1,018,811
ALNYLAM PHARMACEUTICALS INC COM 02043Q107 28,624 426,322 SH   SOLE   327,014 0 99,308
AMAZON COM INC COM 023135106 86,032 255,658 SH   SOLE   199,950 0 55,708
AMBEV SA SPONSORED ADR 02319V103 281,779 38,026,991 SH   SOLE   27,008,191 0 11,018,800
APPLE INC COM 037833100 267,904 499,134 SH   SOLE   382,522 0 116,612
AXIALL CORP COM 05463D100 98,780 2,199,062 SH   SOLE   1,694,720 0 504,342
BANK OF AMERICA CORPORATION COM 060505104 121,618 7,070,839 SH   SOLE   5,442,876 0 1,627,963
BRASKEM S A SP ADR PFD A 105532105 50,800 3,252,300 SH   SOLE   2,640,084 0 612,216
BUNGE LIMITED COM G16962105 24,787 311,749 SH   SOLE   68,583 0 243,166
CALPINE CORP COM NEW 131347304 157,476 7,531,203 SH   SOLE   5,719,593 0 1,811,610
CELGENE CORP COM 151020104 44,744 320,522 SH   SOLE   246,838 0 73,684
CELLULAR DYNAMICS INTL INC COM 15117V109 823 55,149 SH   SOLE   0 0 55,149
CF INDS HLDGS INC COM 125269100 109,153 418,793 SH   SOLE   93,609 0 325,184
CITIGROUP INC COM NEW 172967424 144,750 3,040,955 SH   SOLE   2,327,025 0 713,930
CITRIX SYS INC COM 177376100 46,194 804,378 SH   SOLE   617,060 0 187,318
COMPANHIA ENERGETICA DE MINA SP ADR N-V PFD 204409601 70 10,332 SH   SOLE   0 0 10,332
CONAGRA FOODS INC COM 205887102 22,788 734,376 SH   SOLE   161,464 0 572,912
CREDICORP LTD COM G2519Y108 150,310 1,089,824 SH   SOLE   799,504 0 290,320
CRESUD S A C I F Y A SPONSORED ADR 226406106 14,454 1,555,848 SH   SOLE   215,664 0 1,340,184
CSX CORP COM 126408103 229,064 7,906,922 SH   SOLE   5,749,490 0 2,157,432
CUBIST PHARMACEUTICALS INC COM 229678107 44,081 602,611 SH   SOLE   463,432 0 139,179
DARLING INTL INC COM 237266101 7,144 356,838 SH   SOLE   95,018 0 261,820
DOW CHEM CO COM 260543103 202,346 4,164,322 SH   SOLE   2,625,934 0 1,538,388
EMBRAER S A SP ADR REP 4 COM 29082A107 61,494 1,732,708 SH   SOLE   1,398,936 0 333,772
ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 23,519 437,285 SH   SOLE   345,748 0 91,537
FEDEX CORP COM 31428X106 49,057 370,081 SH   SOLE   291,161 0 78,920
FREEPORT-MCMORAN COPPER & GO COM 35671D857 101,216 3,060,674 SH   SOLE   2,424,718 0 635,956
FRESH MKT INC COM 35804H106 80,103 2,384,011 SH   SOLE   1,356,852 0 1,027,159
GOL LINHAS AEREAS INTLG S A SP ADR REP PFD 38045R107 20,125 4,140,890 SH   SOLE   3,332,707 0 808,183
GRUPO TELEVISA SA SPON ADR REP ORD 40049J206 45,982 1,381,252 SH   SOLE   1,123,037 0 258,215
HARLEY DAVIDSON INC COM 412822108 10,025 150,528 SH   SOLE   114,973 0 35,555
HILLSHIRE BRANDS CO COM 432589109 16,667 447,355 SH   SOLE   88,956 0 358,399
HOME INNS & HOTELS MGMT INC SPON ADR 43713W107 40,202 1,245,044 SH   SOLE   1,011,771 0 233,273
ICICI BK LTD ADR 45104G104 249,939 5,706,432 SH   SOLE   4,056,388 0 1,650,044
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 51,982 3,498,021 SH   SOLE   2,849,085 0 648,936
KINDER MORGAN INC DEL COM 49456B101 146,914 4,521,836 SH   SOLE   3,495,093 0 1,026,743
LABORATORY CORP AMER HLDGS COM NEW 50540R409 101,870 1,037,264 SH   SOLE   752,580 0 284,684
LAUDER ESTEE COS INC CL A 518439104 151,013 2,257,945 SH   SOLE   1,717,588 0 540,357
LAZARD LTD SHS A G54050102 39,735 843,832 SH   SOLE   659,876 0 183,956
MEAD JOHNSON NUTRITION CO COM 582839106 4,509 54,227 SH   SOLE   10,287 0 43,940
MINDRAY MEDICAL INTL LTD SPON ADR 602675100 29,868 922,920 SH   SOLE   747,364 0 175,556
MONDELEZ INTL INC CL A 609207105 51,868 1,501,318 SH   SOLE   901,595 0 599,723
MOSAIC CO NEW COM 61945C103 289,521 5,790,375 SH   SOLE   1,863,697 0 3,926,678
NAVISTAR INTL CORP NEW COM 63934E108 90,624 2,675,642 SH   SOLE   2,055,094 0 620,548
NCR CORP NEW COM 62886E108 180,556 4,939,984 SH   SOLE   3,800,233 0 1,139,751
NEWMONT MINING CORP COM 651639106 106,196 4,530,544 SH   SOLE   3,440,801 0 1,089,743
NIKE INC CL B 654106103 57,953 784,651 SH   SOLE   605,137 0 179,514
NRG ENERGY INC COM NEW 629377508 77,978 2,452,173 SH   SOLE   1,876,595 0 575,578
ORACLE CORP COM 68389X105 148,456 3,628,888 SH   SOLE   2,772,925 0 855,963
PANERA BREAD CO CL A 69840W108 37,209 210,850 SH   SOLE   162,060 0 48,790
PEABODY ENERGY CORP COM 704549104 71,755 4,391,361 SH   SOLE   3,266,603 0 1,124,758
PERKINELMER INC COM 714046109 5,828 129,343 SH   SOLE   0 0 129,343
POTASH CORP SASK INC COM 73755L107 364,775 10,071,052 SH   SOLE   4,135,765 0 5,935,287
STANLEY BLACK & DECKER INC COM 854502101 92,875 1,143,254 SH   SOLE   876,435 0 266,819
STARWOOD HOTELS&RESORTS WRLD COM 85590A401 100,621 1,264,089 SH   SOLE   962,482 0 301,607
SUNOPTA INC COM 8676EP108 37,277 3,156,299 SH   SOLE   436,821 0 2,719,478
TESORO CORP COM 881609101 131,440 2,598,151 SH   SOLE   1,995,631 0 602,520
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 67,817 1,283,357 SH   SOLE   990,671 0 292,686
THERMO FISHER SCIENTIFIC INC COM 883556102 98,291 817,444 SH   SOLE   564,477 0 252,967
TREEHOUSE FOODS INC COM 89469A104 31,653 439,674 SH   SOLE   90,128 0 349,546
TUMI HLDGS INC COM 89969Q104 51,135 2,259,596 SH   SOLE   1,763,662 0 495,934
UBS AG SHS NEW H89231338 42,326 2,042,761 SH   SOLE   1,655,550 0 387,211
VALERO ENERGY CORP NEW COM 91913Y100 94,560 1,780,793 SH   SOLE   1,371,406 0 409,387
WEYERHAEUSER CO COM 962166104 167,583 5,709,860 SH   SOLE   4,219,528 0 1,490,332
WHITEWAVE FOODS CO COM CL A 966244105 29,458 1,032,133 SH   SOLE   201,949 0 830,184
YUM BRANDS INC COM 988498101 108,922 1,444,751 SH   SOLE   1,080,401 0 364,350
ZILLOW INC CL A 98954A107 10,112 114,767 SH   SOLE   88,501 0 26,266
ZOETIS INC CL A 98978V103 20,318 702,147 SH   SOLE   143,294 0 558,853