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 29,197 3,609,094 SH   SOLE   478,029 0 3,131,065
ADOBE SYS INC COM 00724F101 54,148 904,231 SH   SOLE   664,581 0 239,650
AGCO CORP COM 001084102 9,260 156,462 SH   SOLE   31,041 0 125,421
AGRIUM INC COM 008916108 130,791 1,429,721 SH   SOLE   212,571 0 1,217,150
AMBEV SA SPONSORED ADR 02319V103 228,440 31,080,384 SH   SOLE   20,549,858 0 10,530,526
APPLE INC COM 037833100 134,176 239,132 SH   SOLE   173,835 0 65,297
ASHLAND INC NEW COM 044209104 56,613 583,401 SH   SOLE   428,482 0 154,919
AXIALL CORP COM 05463D100 78,394 1,652,485 SH   SOLE   1,219,865 0 432,620
BANK OF AMERICA CORPORATION COM 060505104 135,039 8,672,895 SH   SOLE   6,409,031 0 2,263,864
BRASKEM S A SP ADR PFD A 105532105 53,881 3,018,386 SH   SOLE   2,358,428 0 659,958
BUNGE LIMITED COM G16962105 114,337 1,392,496 SH   SOLE   204,989 0 1,187,507
CALPINE CORP COM NEW 131347304 203,697 10,440,727 SH   SOLE   7,695,441 0 2,745,286
CELLULAR DYNAMICS INTL INC COM 15117V109 911 55,149 SH   SOLE   0 0 55,149
CF INDS HLDGS INC COM 125269100 308,231 1,322,660 SH   SOLE   337,804 0 984,856
CITRIX SYS INC COM 177376100 49,866 788,413 SH   SOLE   580,163 0 208,250
CONAGRA FOODS INC COM 205887102 17,659 523,983 SH   SOLE   79,065 0 444,918
CREDICORP LTD COM G2519Y108 127,086 957,480 SH   SOLE   648,720 0 308,760
CRESUD S A C I F Y A SPONSORED ADR 226406106 15,634 1,547,963 SH   SOLE   189,363 0 1,358,600
CSX CORP COM 126408103 229,522 7,977,867 SH   SOLE   5,423,982 0 2,553,885
CUBIST PHARMACEUTICALS INC COM 229678107 40,646 590,143 SH   SOLE   435,639 0 154,504
DARLING INTL INC COM 237266101 7,250 347,238 SH   SOLE   49,509 0 297,729
DOW CHEM CO COM 260543103 267,229 6,018,653 SH   SOLE   3,693,815 0 2,324,838
EMBRAER S A SP ADR REP 4 COM 29082A107 49,548 1,539,726 SH   SOLE   1,197,045 0 342,681
ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 25,501 445,502 SH   SOLE   352,062 0 93,440
FEDEX CORP COM 31428X106 57,477 399,773 SH   SOLE   296,940 0 102,833
FREEPORT-MCMORAN COPPER & GO COM 35671D857 57,103 1,513,156 SH   SOLE   1,145,757 0 367,399
FRESH MKT INC COM 35804H106 77,631 1,916,803 SH   SOLE   1,032,883 0 883,920
GOL LINHAS AEREAS INTLG S A SP ADR REP PFD 38045R107 13,786 3,017,660 SH   SOLE   2,351,156 0 666,504
GRUPO TELEVISA SA SPON ADR REP ORD 40049J206 97,460 3,220,743 SH   SOLE   2,498,785 0 721,958
HAIN CELESTIAL GROUP INC COM 405217100 5,993 66,016 SH   SOLE   9,324 0 56,692
HILLSHIRE BRANDS CO COM 432589109 16,594 496,246 SH   SOLE   76,895 0 419,351
HOME INNS & HOTELS MGMT INC SPON ADR 43713W107 47,450 1,087,329 SH   SOLE   851,022 0 236,307
ICICI BK LTD ADR 45104G104 248,116 6,675,218 SH   SOLE   4,400,656 0 2,274,562
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 68,857 5,074,263 SH   SOLE   3,935,929 0 1,138,334
KINDER MORGAN INC DEL COM 49456B101 156,999 4,361,124 SH   SOLE   3,236,854 0 1,124,270
LABORATORY CORP AMER HLDGS COM NEW 50540R409 144,314 1,579,422 SH   SOLE   1,101,101 0 478,321
LAUDER ESTEE COS INC CL A 518439104 100,529 1,334,708 SH   SOLE   982,583 0 352,125
LAZARD LTD SHS A G54050102 73,595 1,623,902 SH   SOLE   1,271,983 0 351,919
MINDRAY MEDICAL INTL LTD SPON ADR 602675100 32,817 902,579 SH   SOLE   703,589 0 198,990
MONDELEZ INTL INC CL A 609207105 107,601 3,048,156 SH   SOLE   1,825,908 0 1,222,248
MOSAIC CO NEW COM 61945C103 337,685 7,143,777 SH   SOLE   1,743,745 0 5,400,032
NAVISTAR INTL CORP NEW COM 63934E108 87,962 2,303,250 SH   SOLE   1,700,141 0 603,109
NCR CORP NEW COM 62886E108 164,944 4,842,768 SH   SOLE   3,570,212 0 1,272,556
NEWMONT MINING CORP COM 651639106 100,994 4,385,331 SH   SOLE   3,237,050 0 1,148,281
NIKE INC CL B 654106103 49,721 632,295 SH   SOLE   469,092 0 163,203
NRG ENERGY INC COM NEW 629377508 68,850 2,397,287 SH   SOLE   1,760,391 0 636,896
ORACLE CORP COM 68389X105 288,080 7,529,515 SH   SOLE   5,567,848 0 1,961,667
PANERA BREAD CO CL A 69840W108 36,433 206,206 SH   SOLE   152,110 0 54,096
PEABODY ENERGY CORP COM 704549104 60,249 3,084,896 SH   SOLE   2,267,170 0 817,726
PERKINELMER INC COM 714046109 5,333 129,343 SH   SOLE   0 0 129,343
POTASH CORP SASK INC COM 73755L107 373,028 11,317,577 SH   SOLE   3,519,985 0 7,797,592
SENOMYX INC COM 81724Q107 5,777 1,141,580 SH   SOLE   333,842 0 807,738
STANLEY BLACK & DECKER INC COM 854502101 75,954 941,328 SH   SOLE   690,674 0 250,654
STARWOOD HOTELS&RESORTS WRLD COM 85590A401 98,707 1,242,405 SH   SOLE   908,473 0 333,932
SUNOPTA INC COM 8676EP108 34,420 3,438,554 SH   SOLE   436,821 0 3,001,733
TESORO CORP COM 881609101 114,500 1,957,275 SH   SOLE   1,434,659 0 522,616
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 116,142 2,897,871 SH   SOLE   2,148,387 0 749,484
THERMO FISHER SCIENTIFIC INC COM 883556102 143,175 1,285,810 SH   SOLE   778,283 0 507,527
TREEHOUSE FOODS INC COM 89469A104 40,065 581,338 SH   SOLE   94,162 0 487,176
TUMI HLDGS INC COM 89969Q104 49,884 2,212,228 SH   SOLE   1,646,834 0 565,394
V F CORP COM 918204108 53,474 857,784 SH   SOLE   636,000 0 221,784
VALERO ENERGY CORP NEW COM 91913Y100 97,560 1,935,749 SH   SOLE   1,429,677 0 506,072
WESTERN REFNG INC COM 959319104 30,645 722,607 SH   SOLE   530,444 0 192,163
WEYERHAEUSER CO COM 962166104 185,804 5,885,471 SH   SOLE   3,977,526 0 1,907,945
WHITEWAVE FOODS CO COM CL A 966244105 27,241 1,187,497 SH   SOLE   169,540 0 1,017,957
YUM BRANDS INC COM 988498101 101,628 1,344,087 SH   SOLE   997,203 0 346,884
ZOETIS INC CL A 98978V103 26,982 825,379 SH   SOLE   119,632 0 705,747