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
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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
Autohome ADR ADR 05278C107 89,871 1,126,900 SH   SOLE NONE 50,142,828 0 39,728,045
BBVA Banco Frances ADR 07329M100 1,780 319,600 SH   SOLE NONE 0 0 1,780,172
Buenaventura-Adr ADR 204448104 21,077 1,399,966 SH   SOLE NONE 14,271,582 0 6,805,515
Cia Cervecerias ADR ADR 204429104 1,551 82,296 SH   SOLE NONE 0 0 1,551,126
Copa Holdings STK P31076105 1,535 14,200 SH   SOLE NONE 0 0 1,534,736
Despegar.com Corp STK G27358103 1,122 83,200 SH   SOLE NONE 0 0 1,121,536
FEMSA ADR 344419106 91,031 966,245 SH   SOLE NONE 49,704,402 0 41,326,454
ICICI Bank ADR ADR 45104G104 101,049 6,696,406 SH   SOLE NONE 39,687,892 0 61,360,874
Infosys Limited ADR ADR 456788108 42,701 4,139,116 SH   SOLE NONE 15,083,774 0 27,616,824
IShares MSCI India ETF STK 46429B598 21,867 626,128 SH   SOLE NONE 0 0 21,867,007
IShares MSCI Taiwan Index STK 46434G772 7,155 175,095 SH   SOLE NONE 0 0 7,155,390
IShares S&P India Nifty 50 DTC STK 464289529 10,765 280,549 SH   SOLE NONE 0 0 10,765,194
Netease Inc-ADR ADR 64110W102 17,325 56,696 SH   SOLE NONE 9,823,013 0 7,501,493
Taiwan Semiconductor-SP ADR ADR 874039100 10,583 183,326 SH   SOLE NONE 0 0 10,582,812
Tencent Music Entertainment ADR 88034P109 0 42 SH   SOLE NONE 0 0 490
Transocean Limited STK H8817H100 0 0 SH   SOLE NONE 0 0 0
Yandex Nv-A STK N97284108 78,720 1,815,820 SH   SOLE NONE 40,900,123 0 37,819,552