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
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 112,795 1,564,000 SH   SOLE   1,564,000 0 0
AIR LEASE CORP CL A 00912X302 32,040 1,158,350 SH   SOLE   1,158,350 0 0
ALTRIA GROUP INC COM 02209S103 139,285 4,091,533 SH   SOLE   4,091,533 0 0
AMAZON COM INC COM 023135106 97,240 313,949 SH   SOLE   313,949 0 0
BALLY TECHNOLOGIES INC COM 05874B107 31,575 438,178 SH   SOLE   438,178 0 0
BERKSHIRE HATHAWAY INC DEL CL A 084670108 30,675 180 SH   SOLE   180 0 0
BIOGEN IDEC INC COM 09062X103 74,975 314,460 SH   SOLE   314,460 0 0
CAPITAL ONE FINL CORP COM 14040H105 46,990 687,474 SH   SOLE   687,474 0 0
CASEYS GEN STORES INC COM 147528103 15,960 217,175 SH   SOLE   217,175 0 0
CELGENE CORP COM 151020104 77,345 507,362 SH   SOLE   507,362 0 0
CHEVRON CORP NEW COM 166764100 31,375 258,230 SH   SOLE   258,230 0 0
CHIPOTLE MEXICAN GRILL INC COM 169656105 59,180 139,430 SH   SOLE   139,430 0 0
CITIGROUP INC COM NEW 172967424 21,400 441,153 SH   SOLE   441,153 0 0
COCA COLA CO COM 191216100 253,510 6,756,439 SH   SOLE   6,756,439 0 0
COCA COLA FEMSA S A B DE C V SPON ADR REP L 191241108 166,390 1,337,676 SH   SOLE   1,337,676 0 0
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 91,735 1,127,737 SH   SOLE   1,127,737 0 0
COMPANHIA DE BEBIDAS DAS AME SPON ADR PFD 20441W203 783,235 20,690,459 SH   SOLE   20,690,459 0 0
COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104 111,510 9,652,844 SH   SOLE   9,652,844 0 0
CORE LABORATORIES N V COM N22717107 288,450 1,729,841 SH   SOLE   1,729,841 0 0
COVIDIEN PLC SHS G2554F113 178,420 2,941,259 SH   SOLE   2,941,259 0 0
CSL LTD ADR 12637N105 9,040 302,828 SH   SOLE   302,828 0 0
DIAGEO P L C SPON ADR NEW 25243Q205 47,630 374,793 SH   SOLE   374,793 0 0
ECOPETROL S A SPONSORED ADS 279158109 213,480 4,671,002 SH   SOLE   4,671,002 0 0
FASTENAL CO COM 311900104 24,085 479,275 SH   SOLE   479,275 0 0
FIRST REP BK SAN FRANCISCO C COM 33616C100 23,125 495,950 SH   SOLE   495,950 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 595,260 6,216,686 SH   SOLE   6,216,686 0 0
GOOGLE INC CL A 38259P508 30,795 35,159 SH   SOLE   35,159 0 0
GRAINGER W W INC COM 384802104 27,500 105,079 SH   SOLE   105,079 0 0
GRANA Y MONTERO S A A SPONSORED ADR 38500P208 18,330 901,517 SH   SOLE   901,517 0 0
GRUPO FINANCIERO SANTANDER M SPON ADR SHS B 40053C105 652,480 47,787,549 SH   SOLE   47,787,549 0 0
GRUPO TELEVISA SA SPON ADR REP ORD 40049J206 445,075 16,091,674 SH   SOLE   16,091,674 0 0
HDFC BANK LTD ADR REPS 3 SHS 40415F101 406,545 13,301,589 SH   SOLE   13,301,589 0 0
HENRY JACK & ASSOC INC COM 426281101 3,650 70,765 SH   SOLE   70,765 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 26,890 145,203 SH   SOLE   145,203 0 0
INTUITIVE SURGICAL INC COM NEW 46120E602 7,975 21,200 SH   SOLE   21,200 0 0
JOHNSON & JOHNSON COM 478160104 123,835 1,440,945 SH   SOLE   1,440,945 0 0
JPM (AXIS BANK WTS) P-NOTE 08/10/14 48125D480 1,895 118,600 SH   SOLE   118,600 0 0
JPM (HDFC LTD) P-NOTE 29/09/14 48125D183 29,985 2,469,707 SH   SOLE   2,469,707 0 0
JPM (NESTLE INDIA LTD) P-NOTE 09/08/15 48124F395 9,890 119,279 SH   SOLE   119,279 0 0
JPM(INDRAPRASTHA GAS LTD) P-NOTE 09/08/16 48124F791 720 167,847 SH   SOLE   167,847 0 0
JPMORGAN CHASE & CO COM 46625H100 7,895 152,746 SH   SOLE   152,746 0 0
LAS VEGAS SANDS CORP COM 517834107 135,355 2,059,178 SH   SOLE   2,059,178 0 0
MASTERCARD INC CL A 57636Q104 261,535 392,878 SH   SOLE   392,878 0 0
MCDONALDS CORP COM 580135101 15,865 164,888 SH   SOLE   164,888 0 0
MEAD JOHNSON NUTRITION CO COM 582839106 77,045 1,045,412 SH   SOLE   1,045,412 0 0
MONDELEZ INTL INC CL A 609207105 43,940 1,398,475 SH   SOLE   1,398,475 0 0
MOODYS CORP COM 615369105 20,000 284,425 SH   SOLE   284,425 0 0
MOTOROLA SOLUTIONS INC COM NEW 620076307 38,875 654,675 SH   SOLE   654,675 0 0
NETEASE INC SPONSORED ADR 64110W102 75,845 1,044,577 SH   SOLE   1,044,577 0 0
NEWCREST MNG LTD SPONSORED ADR 651191108 12,360 1,148,280 SH   SOLE   1,148,280 0 0
NEWMONT MINING CORP COM 651639106 31,815 1,132,276 SH   SOLE   1,132,276 0 0
OIL CO LUKOIL SPONSORED ADR 677862104 29,865 469,917 SH   SOLE   469,917 0 0
P T TELEKOMUNIKASI INDONESIA SPONSORED ADR 715684106 285 7,800 SH   SOLE   7,800 0 0
PHILIP MORRIS INTL INC COM 718172109 665,060 7,776,214 SH   SOLE   7,776,214 0 0
PHILIPPINE LONG DISTANCE TEL SPONSORED ADR 718252604 19,890 293,229 SH   SOLE   293,229 0 0
PRICELINE COM INC COM NEW 741503403 67,840 67,708 SH   SOLE   67,708 0 0
RANDGOLD RES LTD ADR 752344309 164,910 2,355,064 SH   SOLE   2,355,064 0 0
REYNOLDS AMERICAN INC COM 761713106 39,535 810,500 SH   SOLE   810,500 0 0
ROYAL GOLD INC COM 780287108 5,135 105,522 SH   SOLE   105,522 0 0
SEMPRA ENERGY COM 816851109 23,835 278,475 SH   SOLE   278,475 0 0
SOCIEDAD QUIMICA MINERA DE C SPON ADR SER B 833635105 152,130 5,033,114 SH   SOLE   5,033,114 0 0
STARBUCKS CORP COM 855244109 15,930 207,000 SH   SOLE   207,000 0 0
WAL-MART DE MEX SAB DE CV COM 93114W107 650 24,810 SH   SOLE   24,810 0 0