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 179,948 1,256,268 SH   SOLE 1,256,268 0 0
51JOB INC SP ADR REP COM 316827104 55,241 837,492 SH   SOLE 837,492 0 0
ABBOTT LABS COM 002824100 146,913 3,592,014 SH   SOLE 3,592,014 0 0
ALLERGAN INC COM 018490102 290,777 1,718,334 SH   SOLE 1,718,334 0 0
ALLSTATE CORP COM 020002101 180 3,058 SH   SOLE 3,058 0 0
AMBEV SA SPONSORED ADR 02319V103 72,147 10,248,152 SH   SOLE 10,248,152 0 0
AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 144,973 6,986,647 SH   SOLE 6,986,647 0 0
AMERICAN EXPRESS CO COM 025816109 180,345 1,900,969 SH   SOLE 1,900,969 0 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 263,006 2,288,204 SH   SOLE 2,288,204 0 0
ARM HLDGS PLC SPONSORED ADR 042068106 296,461 6,553,058 SH   SOLE 6,553,058 0 0
AVERY DENNISON CORP COM 053611109 31 600 SH   SOLE 600 0 0
BAIDU INC SPON ADR REP A 056752108 210,345 1,125,987 SH   SOLE 1,125,987 0 0
BANCO BILBAO VIZCAYA ARGENTA SPONSORED ADR 05946K101 92,558 7,248,114 SH   SOLE 7,248,114 0 0
BANCO BRADESCO S A SP ADR PFD NEW 059460303 113,818 7,838,700 SH   SOLE 7,838,700 0 0
BANCO SANTANDER CHILE NEW SP ADR REP COM 05965X109 65,329 2,469,908 SH   SOLE 2,469,908 0 0
BANCOLOMBIA S A SPON ADR PREF 05968L102 7,514 130,000 SH   SOLE 130,000 0 0
BORGWARNER INC COM 099724106 207,719 3,186,364 SH   SOLE 3,186,364 0 0
BUNGE LIMITED COM G16962105 422,892 5,590,857 SH   SOLE 5,590,857 0 0
CANADIAN NATL RY CO COM 136375102 327,429 5,035,824 SH   SOLE 5,035,824 0 0
CITRIX SYS INC COM 177376100 178,457 2,853,040 SH   SOLE 2,853,040 0 0
CNOOC LTD SPONSORED ADR 126132109 74,108 413,340 SH   SOLE 413,340 0 0
COCA COLA FEMSA S A B DE C V SPON ADR REP L 191241108 34,331 302,156 SH   SOLE 302,156 0 0
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 152,410 3,116,130 SH   SOLE 3,116,130 0 0
COLGATE PALMOLIVE CO COM 194162103 248,147 3,639,587 SH   SOLE 3,639,587 0 0
COMPANHIA BRASILEIRA DE DIST SPN ADR PFD CL A 20440T201 98,234 2,120,320 SH   SOLE 2,120,320 0 0
COPA HOLDINGS SA CL A P31076105 52,795 370,311 SH   SOLE 370,311 0 0
CREDICORP LTD COM G2519Y108 95,739 615,806 SH   SOLE 615,806 0 0
CTRIP COM INTL LTD AMERICAN DEP SHS 22943F100 30,937 483,083 SH   SOLE 483,083 0 0
DAVITA HEALTHCARE PARTNERS I COM 23918K108 275,917 3,815,215 SH   SOLE 3,815,215 0 0
EBAY INC COM 278642103 319,073 6,373,799 SH   SOLE 6,373,799 0 0
ECOPETROL S A SPONSORED ADS 279158109 17,754 492,495 SH   SOLE 492,495 0 0
EMERSON ELEC CO COM 291011104 198,450 2,990,504 SH   SOLE 2,990,504 0 0
EXXON MOBIL CORP COM 30231G102 175,423 1,742,384 SH   SOLE 1,742,384 0 0
F5 NETWORKS INC COM 315616102 184,213 1,653,026 SH   SOLE 1,653,026 0 0
FIRST CASH FINL SVCS INC COM 31942D107 923 16,020 SH   SOLE 16,020 0 0
FIRST REP BK SAN FRANCISCO C COM 33616C100 189,006 3,437,099 SH   SOLE 3,437,099 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 70,494 752,744 SH   SOLE 752,744 0 0
FRESENIUS MED CARE AG&CO KGA SPONSORED ADR 358029106 69,028 2,061,150 SH   SOLE 2,061,150 0 0
GOOGLE INC CL A 38259P508 333,445 570,313 SH   SOLE 570,313 0 0
GRIFOLS S A SP ADR REP B NVT 398438408 66 1,500 SH   SOLE 1,500 0 0
GRUPO AEROPORTUARIO DEL SURE SPON ADR SER B 40051E202 62,187 489,581 SH   SOLE 489,581 0 0
HDFC BANK LTD ADR REPS 3 SHS 40415F101 173,404 3,703,624 SH   SOLE 3,703,624 0 0
ICICI BK LTD ADR 45104G104 523,426 10,489,504 SH   SOLE 10,489,504 0 0
ILLINOIS TOOL WKS INC COM 452308109 70 800 SH   SOLE 800 0 0
IMPERIAL OIL LTD COM NEW 453038408 354,703 6,739,561 SH   SOLE 6,739,561 0 0
INFORMATICA CORP COM 45666Q102 137,099 3,845,700 SH   SOLE 3,845,700 0 0
INTERNATIONAL FLAVORS&FRAGRA COM 459506101 11 105 SH   SOLE 105 0 0
IPG PHOTONICS CORP COM 44980X109 138,493 2,012,984 SH   SOLE 2,012,984 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 420,156 29,218,052 SH   SOLE 29,218,052 0 0
JOHNSON & JOHNSON COM 478160104 84 800 SH   SOLE 800 0 0
JPMORGAN CHASE & CO COM 46625H100 277,395 4,814,212 SH   SOLE 4,814,212 0 0
MASTERCARD INC CL A 57636Q104 141,190 1,921,737 SH   SOLE 1,921,737 0 0
MICROSOFT CORP COM 594918104 285,390 6,843,882 SH   SOLE 6,843,882 0 0
MONSANTO CO NEW COM 61166W101 237,843 1,906,715 SH   SOLE 1,906,715 0 0
NIKE INC CL B 654106103 350,889 4,524,679 SH   SOLE 4,524,679 0 0
NOBLE ENERGY INC COM 655044105 124 1,600 SH   SOLE 1,600 0 0
NOVO-NORDISK A S ADR 670100205 93,379 2,021,636 SH   SOLE 2,021,636 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 44,948 3,072,347 SH   SOLE 3,072,347 0 0
PHILIPPINE LONG DISTANCE TEL SPONSORED ADR 718252604 2,325 34,500 SH   SOLE 34,500 0 0
PRAXAIR INC COM 74005P104 171,628 1,291,989 SH   SOLE 1,291,989 0 0
PRECISION CASTPARTS CORP COM 740189105 374 1,480 SH   SOLE 1,480 0 0
PRICE T ROWE GROUP INC COM 74144T108 14,112 167,184 SH   SOLE 167,184 0 0
PRICESMART INC COM 741511109 8,202 94,235 SH   SOLE 94,235 0 0
PROCTER & GAMBLE CO COM 742718109 121,986 1,552,184 SH   SOLE 1,552,184 0 0
QIAGEN NV REG SHS N72482107 170,621 6,978,369 SH   SOLE 6,978,369 0 0
RALPH LAUREN CORP CL A 751212101 111,906 696,411 SH   SOLE 696,411 0 0
ROPER INDS INC NEW COM 776696106 323,534 2,215,831 SH   SOLE 2,215,831 0 0
SAP AG SPON ADR 803054204 368,382 4,784,178 SH   SOLE 4,784,178 0 0
SASOL LTD SPONSORED ADR 803866300 62,675 1,060,140 SH   SOLE 1,060,140 0 0
SCHLUMBERGER LTD COM 806857108 876,942 7,434,868 SH   SOLE 7,434,868 0 0
SHIRE PLC SPONSORED ADR 82481R106 3,231 13,721 SH   SOLE 13,721 0 0
SIGMA ALDRICH CORP COM 826552101 310,743 3,062,117 SH   SOLE 3,062,117 0 0
SVB FINL GROUP COM 78486Q101 280,664 2,406,658 SH   SOLE 2,406,658 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 310,636 14,522,498 SH   SOLE 14,522,498 0 0
TENARIS S A SPONSORED ADR 88031M109 61,555 1,305,522 SH   SOLE 1,305,522 0 0
TRANSOCEAN LTD REG SHS H8817H100 10 218 SH   SOLE 218 0 0
TRIMBLE NAVIGATION LTD COM 896239100 177,705 4,809,322 SH   SOLE 4,809,322 0 0
UNILEVER PLC SPON ADR NEW 904767704 58,276 1,286,165 SH   SOLE 1,286,165 0 0
VALE S A ADR 91912E105 51,114 3,863,526 SH   SOLE 3,863,526 0 0
VALE S A ADR REPSTG PFD 91912E204 10,802 907,699 SH   SOLE 907,699 0 0
WATERS CORP COM 941848103 138,405 1,325,216 SH   SOLE 1,325,216 0 0
WELLPOINT INC COM 94973V107 86 800 SH   SOLE 800 0 0
WELLS FARGO & CO NEW COM 949746101 362,004 6,887,443 SH   SOLE 6,887,443 0 0
WPP PLC NEW ADR 92937A102 164,369 1,508,112 SH   SOLE 1,508,112 0 0
YANDEX N V SHS CLASS A N97284108 132,789 3,725,843 SH   SOLE 3,725,843 0 0