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 176,186 1,243,667 SH   SOLE 1,243,667 0 0
51JOB INC SP ADR REP COM 316827104 53,802 1,797,584 SH   SOLE 1,797,584 0 0
ABBOTT LABS COM 002824100 148,013 3,559,040 SH   SOLE 3,559,040 0 0
ABBVIE INC COM 00287Y109 173,208 2,998,750 SH   SOLE 2,998,750 0 0
ALLERGAN INC COM 018490102 302,872 1,699,639 SH   SOLE 1,699,639 0 0
ALLSTATE CORP COM 020002101 188 3,058 SH   SOLE 3,058 0 0
AMBEV SA SPONSORED ADR 02319V103 71,837 10,967,452 SH   SOLE 10,967,452 0 0
AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 173,583 6,889,277 SH   SOLE 6,889,277 0 0
AMERICAN EXPRESS CO COM 025816109 169,013 1,930,958 SH   SOLE 1,930,958 0 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 253,797 2,305,800 SH   SOLE 2,305,800 0 0
ARM HLDGS PLC SPONSORED ADR 042068106 283,905 6,529,429 SH   SOLE 6,529,429 0 0
AVERY DENNISON CORP COM 053611109 27 600 SH   SOLE 600 0 0
BAIDU INC SPON ADR REP A 056752108 262,838 1,208,740 SH   SOLE 1,208,740 0 0
BANCO BILBAO VIZCAYA ARGENTA SPONSORED ADR 05946K101 87,722 7,306,634 SH   SOLE 7,306,634 0 0
BANCO BRADESCO S A SP ADR PFD NEW 059460303 129,788 9,107,900 SH   SOLE 9,107,900 0 0
BANCO SANTANDER CHILE NEW SP ADR REP COM 05965X109 68,334 3,093,451 SH   SOLE 3,093,451 0 0
BANCOLOMBIA S A SPON ADR PREF 05968L102 8,565 151,000 SH   SOLE 151,000 0 0
BORGWARNER INC COM 099724106 166,105 3,157,075 SH   SOLE 3,157,075 0 0
BUNGE LIMITED COM G16962105 430,490 5,121,291 SH   SOLE 5,121,291 0 0
CANADIAN NATL RY CO COM 136375102 357,823 5,060,982 SH   SOLE 5,060,982 0 0
CITRIX SYS INC COM 177376100 201,457 2,824,410 SH   SOLE 2,824,410 0 0
CNOOC LTD SPONSORED ADR 126132109 78,526 455,119 SH   SOLE 455,119 0 0
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 138,269 3,088,545 SH   SOLE 3,088,545 0 0
COLGATE PALMOLIVE CO COM 194162103 235,052 3,604,083 SH   SOLE 3,604,083 0 0
COMPANHIA BRASILEIRA DE DIST SPN ADR PFD CL A 20440T201 114,625 2,628,415 SH   SOLE 2,628,415 0 0
COPA HOLDINGS SA CL A P31076105 36,929 344,196 SH   SOLE 344,196 0 0
CREDICORP LTD COM G2519Y108 116,587 760,071 SH   SOLE 760,071 0 0
CTRIP COM INTL LTD AMERICAN DEP SHS 22943F100 33,567 591,383 SH   SOLE 591,383 0 0
DAVITA HEALTHCARE PARTNERS I COM 23918K108 276,713 3,783,436 SH   SOLE 3,783,436 0 0
EBAY INC COM 278642103 357,298 6,310,026 SH   SOLE 6,310,026 0 0
ECOPETROL S A SPONSORED ADS 279158109 4,243 135,700 SH   SOLE 135,700 0 0
EMERSON ELEC CO COM 291011104 185,254 2,960,569 SH   SOLE 2,960,569 0 0
EXXON MOBIL CORP COM 30231G102 162,144 1,724,152 SH   SOLE 1,724,152 0 0
F5 NETWORKS INC COM 315616102 194,291 1,636,388 SH   SOLE 1,636,388 0 0
FIRST CASH FINL SVCS INC COM 31942D107 897 16,020 SH   SOLE 16,020 0 0
FIRST REP BK SAN FRANCISCO C COM 33616C100 240,754 4,875,610 SH   SOLE 4,875,610 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 73,865 802,444 SH   SOLE 802,444 0 0
FRESENIUS MED CARE AG&CO KGA SPONSORED ADR 358029106 71,421 2,054,019 SH   SOLE 2,054,019 0 0
GOOGLE INC CL A 38259P508 332,221 564,651 SH   SOLE 564,651 0 0
GRIFOLS S A SP ADR REP B NVT 398438408 53 1,500 SH   SOLE 1,500 0 0
GRUPO AEROPORTUARIO DEL SURE SPON ADR SER B 40051E202 77,079 599,881 SH   SOLE 599,881 0 0
HDFC BANK LTD ADR REPS 3 SHS 40415F101 188,413 4,045,105 SH   SOLE 4,045,105 0 0
ICICI BK LTD ADR 45104G104 512,355 10,471,512 SH   SOLE 10,471,512 0 0
ILLINOIS TOOL WKS INC COM 452308109 68 800 SH   SOLE 800 0 0
IMPERIAL OIL LTD COM NEW 453038408 319,778 6,786,331 SH   SOLE 6,786,331 0 0
INFORMATICA CORP COM 45666Q102 130,492 3,811,712 SH   SOLE 3,811,712 0 0
IPG PHOTONICS CORP COM 44980X109 150,745 2,191,881 SH   SOLE 2,191,881 0 0
ISHARES MSCI JAPAN ETF 464286848 2,467 209,590 SH   SOLE 209,590 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 404,040 29,370,749 SH   SOLE 29,370,749 0 0
JOHNSON & JOHNSON COM 478160104 85 800 SH   SOLE 800 0 0
JPMORGAN CHASE & CO COM 46625H100 286,756 4,760,416 SH   SOLE 4,760,416 0 0
LUXOTTICA GROUP S P A SPONSORED ADR 55068R202 1,007 19,330 SH   SOLE 19,330 0 0
MASTERCARD INC CL A 57636Q104 277,146 3,749,393 SH   SOLE 3,749,393 0 0
MICROSOFT CORP COM 594918104 313,989 6,773,192 SH   SOLE 6,773,192 0 0
MONSANTO CO NEW COM 61166W101 212,713 1,890,763 SH   SOLE 1,890,763 0 0
NIKE INC CL B 654106103 400,406 4,489,322 SH   SOLE 4,489,322 0 0
NOBLE ENERGY INC COM 655044105 109 1,600 SH   SOLE 1,600 0 0
NOVO-NORDISK A S ADR 670100205 114,581 2,400,091 SH   SOLE 2,400,091 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 54,289 3,825,847 SH   SOLE 3,825,847 0 0
PHILIPPINE LONG DISTANCE TEL SPONSORED ADR 718252604 2,621 38,000 SH   SOLE 38,000 0 0
PRAXAIR INC COM 74005P104 122,634 950,812 SH   SOLE 950,812 0 0
PRECISION CASTPARTS CORP COM 740189105 351 1,480 SH   SOLE 1,480 0 0
PRICESMART INC COM 741511109 9,065 105,850 SH   SOLE 105,850 0 0
PROCTER & GAMBLE CO COM 742718109 128,981 1,540,312 SH   SOLE 1,540,312 0 0
QIAGEN NV REG SHS N72482107 38,413 1,687,192 SH   SOLE 1,687,192 0 0
RALPH LAUREN CORP CL A 751212101 113,893 691,424 SH   SOLE 691,424 0 0
ROPER INDS INC NEW COM 776696106 321,178 2,195,562 SH   SOLE 2,195,562 0 0
SAP AG SPON ADR 803054204 360,691 5,012,329 SH   SOLE 5,012,329 0 0
SASOL LTD SPONSORED ADR 803866300 56,424 1,044,391 SH   SOLE 1,044,391 0 0
SCHLUMBERGER LTD COM 806857108 752,344 7,417,856 SH   SOLE 7,417,856 0 0
SHIRE PLC SPONSORED ADR 82481R106 3,020 11,676 SH   SOLE 11,676 0 0
SIGMA ALDRICH CORP COM 826552101 409,383 3,009,963 SH   SOLE 3,009,963 0 0
SVB FINL GROUP COM 78486Q101 267,442 2,386,226 SH   SOLE 2,386,226 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 319,967 15,877,557 SH   SOLE 15,877,557 0 0
TENARIS S A SPONSORED ADR 88031M109 64,468 1,415,322 SH   SOLE 1,415,322 0 0
TRANSOCEAN LTD REG SHS H8817H100 7 218 SH   SOLE 218 0 0
TRIMBLE NAVIGATION LTD COM 896239100 145,315 4,764,897 SH   SOLE 4,764,897 0 0
UNILEVER PLC SPON ADR NEW 904767704 53,806 1,297,120 SH   SOLE 1,297,120 0 0
VALE S A ADR 91912E105 53,173 4,829,526 SH   SOLE 4,829,526 0 0
VALE S A ADR REPSTG PFD 91912E204 10,552 1,086,671 SH   SOLE 1,086,671 0 0
WATERS CORP COM 941848103 130,376 1,315,386 SH   SOLE 1,315,386 0 0
WELLPOINT INC COM 94973V107 96 800 SH   SOLE 800 0 0
WELLS FARGO & CO NEW COM 949746101 277,976 5,359,393 SH   SOLE 5,359,393 0 0
WPP PLC NEW ADR 92937A102 149,805 1,514,771 SH   SOLE 1,514,771 0 0
YANDEX N V SHS CLASS A N97284108 102,281 3,680,971 SH   SOLE 3,680,971 0 0