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 159,515 957,300 SH   SOLE 957,300 0 0
51JOB INC SP ADR REP COM 316827104 107,766 3,474,072 SH   SOLE 3,474,072 0 0
ABBOTT LABS COM 002824100 109,681 2,622,049 SH   SOLE 2,622,049 0 0
ABBVIE INC COM 00287Y109 125,967 2,205,302 SH   SOLE 2,205,302 0 0
ALLSTATE CORP COM 020002101 206 3,058 SH   SOLE 3,058 0 0
ALPHABET INC CAP STK CL A 02079K305 337,163 441,949 SH   SOLE 441,949 0 0
AMAZON COM INC COM 023135106 204,017 343,672 SH   SOLE 343,672 0 0
AMBEV SA SPONSORED ADR 02319V103 97,110 18,747,021 SH   SOLE 18,747,021 0 0
AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 95,159 6,127,448 SH   SOLE 6,127,448 0 0
AMERICAN EXPRESS CO COM 025816109 148,043 2,411,126 SH   SOLE 2,411,126 0 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 297,699 2,388,088 SH   SOLE 2,388,088 0 0
ANTHEM INC COM 036752103 111 800 SH   SOLE 800 0 0
ARM HLDGS PLC SPONSORED ADR 042068106 257,409 5,891,741 SH   SOLE 5,891,741 0 0
ASML HOLDING N V N Y REGISTRY SHS N07059210 69 690 SH   SOLE 690 0 0
AVERY DENNISON CORP COM 053611109 43 600 SH   SOLE 600 0 0
BAIDU INC SPON ADR REP A 056752108 785,514 4,115,224 SH   SOLE 4,115,224 0 0
BANCO BILBAO VIZCAYA ARGENTA SPONSORED ADR 05946K101 57,459 8,812,822 SH   SOLE 8,812,822 0 0
BANCO BRADESCO S A SP ADR PFD NEW 059460303 163,649 21,966,293 SH   SOLE 21,966,293 0 0
BANCO SANTANDER CHILE NEW SP ADR REP COM 05965X109 98,387 5,084,587 SH   SOLE 5,084,587 0 0
BANCOLOMBIA S A SPON ADR PREF 05968L102 95,447 2,792,484 SH   SOLE 2,792,484 0 0
BUNGE LIMITED COM G16962105 262,552 4,632,994 SH   SOLE 4,632,994 0 0
CANADIAN NATL RY CO COM 136375102 331,778 5,311,840 SH   SOLE 5,311,840 0 0
CANADIAN PAC RY LTD COM 13645T100 2 12 SH   SOLE 12 0 0
CHINA MOBILE LIMITED SPONSORED ADR 16941M109 205,209 3,700,795 SH   SOLE 3,700,795 0 0
CHUBB LIMITED COM H1467J104 2 17 SH   SOLE 17 0 0
CNOOC LTD SPONSORED ADR 126132109 208,021 1,777,045 SH   SOLE 1,777,045 0 0
COCA COLA FEMSA S A B DE C V SPON ADR REP L 191241108 20,024 241,110 SH   SOLE 241,110 0 0
COGNEX CORP COM 192422103 117,240 3,010,013 SH   SOLE 3,010,013 0 0
COLGATE PALMOLIVE CO COM 194162103 191,290 2,707,581 SH   SOLE 2,707,581 0 0
COMPANHIA BRASILEIRA DE DIST SPN ADR PFD CL A 20440T201 122,025 8,772,435 SH   SOLE 8,772,435 0 0
COPA HOLDINGS SA CL A P31076105 1,932 28,520 SH   SOLE 28,520 0 0
CORE LABORATORIES N V COM N22717107 2 15 SH   SOLE 15 0 0
CREDICORP LTD COM G2519Y108 154,513 1,179,395 SH   SOLE 1,179,395 0 0
CTRIP COM INTL LTD AMERICAN DEP SHS 22943F100 283,495 6,405,212 SH   SOLE 6,405,212 0 0
DAVITA HEALTHCARE PARTNERS I COM 23918K108 207,100 2,822,298 SH   SOLE 2,822,298 0 0
ECOPETROL S A SPONSORED ADS 279158109 5,937 689,550 SH   SOLE 689,550 0 0
ENCANA CORP COM 292505104 49 7,980 SH   SOLE 7,980 0 0
EXXON MOBIL CORP COM 30231G102 144,458 1,728,168 SH   SOLE 1,728,168 0 0
F5 NETWORKS INC COM 315616102 198,832 1,878,425 SH   SOLE 1,878,425 0 0
FACEBOOK INC CL A 30303M102 160,443 1,406,163 SH   SOLE 1,406,163 0 0
FIRST REP BK SAN FRANCISCO C COM 33616C100 246,963 3,705,936 SH   SOLE 3,705,936 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 59,218 614,867 SH   SOLE 614,867 0 0
FRESENIUS MED CARE AG&CO KGA SPONSORED ADR 358029106 104,224 2,364,418 SH   SOLE 2,364,418 0 0
GRIFOLS S A SP ADR REP B NVT 398438408 138,022 8,921,938 SH   SOLE 8,921,938 0 0
GRUPO AEROPORTUARIO DEL SURE SPON ADR SER B 40051E202 157,126 1,046,322 SH   SOLE 1,046,322 0 0
GRUPO TELEVISA SA SPON ADR REP ORD 40049J206 171,184 6,233,955 SH   SOLE 6,233,955 0 0
HDFC BANK LTD ADR REPS 3 SHS 40415F101 1 17 SH   SOLE 17 0 0
HSBC HLDGS PLC SPON ADR NEW 404280406 49 1,590 SH   SOLE 1,590 0 0
ICICI BK LTD ADR 45104G104 25,107 3,506,500 SH   SOLE 3,506,500 0 0
ICON PLC SHS G4705A100 2 21 SH   SOLE 21 0 0
ILLINOIS TOOL WKS INC COM 452308109 82 800 SH   SOLE 800 0 0
IMPERIAL OIL LTD COM NEW 453038408 60,403 1,808,435 SH   SOLE 1,808,435 0 0
IMS HEALTH HLDGS INC COM 44970B109 204,132 7,688,576 SH   SOLE 7,688,576 0 0
IPG PHOTONICS CORP COM 44980X109 158,372 1,648,333 SH   SOLE 1,648,333 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 410,090 47,740,543 SH   SOLE 47,740,543 0 0
JD COM INC SPON ADR CL A 47215P106 13 490 SH   SOLE 490 0 0
JOHNSON & JOHNSON COM 478160104 87 800 SH   SOLE 800 0 0
LAZARD LTD SHS A G54050102 2 50 SH   SOLE 50 0 0
LULULEMON ATHLETICA INC COM 550021109 67 990 SH   SOLE 990 0 0
LUXOTTICA GROUP S P A SPONSORED ADR 55068R202 1,095 19,907 SH   SOLE 19,907 0 0
MASTERCARD INC CL A 57636Q104 215,958 2,285,267 SH   SOLE 2,285,267 0 0
MICROSOFT CORP COM 594918104 138,658 2,510,558 SH   SOLE 2,510,558 0 0
MONSANTO CO NEW COM 61166W101 93,959 1,070,889 SH   SOLE 1,070,889 0 0
NIKE INC CL B 654106103 413,954 6,734,251 SH   SOLE 6,734,251 0 0
NOBLE ENERGY INC COM 655044105 50 1,600 SH   SOLE 1,600 0 0
NOVARTIS A G SPONSORED ADR 66987V109 52 720 SH   SOLE 720 0 0
PAYPAL HLDGS INC COM 70450Y103 183,058 4,742,415 SH   SOLE 4,742,415 0 0
PERRIGO CO PLC SHS G97822103 1 7 SH   SOLE 7 0 0
PRICELINE GRP INC COM NEW 741503403 271,952 210,986 SH   SOLE 210,986 0 0
PRICESMART INC COM 741511109 7,161 84,670 SH   SOLE 84,670 0 0
PROCTER & GAMBLE CO COM 742718109 66 800 SH   SOLE 800 0 0
RED HAT INC COM 756577102 109,464 1,469,120 SH   SOLE 1,469,120 0 0
ROPER TECHNOLOGIES INC COM 776696106 301,304 1,648,543 SH   SOLE 1,648,543 0 0
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 175,580 3,569,431 SH   SOLE 3,569,431 0 0
SALESFORCE COM INC COM 79466L302 120,923 1,637,850 SH   SOLE 1,637,850 0 0
SAP SE SPON ADR 803054204 392,659 4,882,616 SH   SOLE 4,882,616 0 0
SASOL LTD SPONSORED ADR 803866300 64,817 2,194,212 SH   SOLE 2,194,212 0 0
SCHLUMBERGER LTD COM 806857108 689,965 9,355,464 SH   SOLE 9,355,464 0 0
SENSATA TECHNOLOGIES HLDG NV SHS N7902X106 2 42 SH   SOLE 42 0 0
SHIRE PLC SPONSORED ADR 82481R106 2,021 11,756 SH   SOLE 11,756 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 105,208 772,907 SH   SOLE 772,907 0 0
SVB FINL GROUP COM 78486Q101 293,441 2,875,465 SH   SOLE 2,875,465 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 416,356 15,891,455 SH   SOLE 15,891,455 0 0
TENARIS S A SPONSORED ADR 88031M109 207,760 8,390,982 SH   SOLE 8,390,982 0 0
TRANSOCEAN LTD REG SHS H8817H100 2 218 SH   SOLE 218 0 0
ULTRAPAR PARTICIPACOES S A SP ADR REP COM 90400P101 18 950 SH   SOLE 950 0 0
UNILEVER PLC SPON ADR NEW 904767704 101,733 2,251,720 SH   SOLE 2,251,720 0 0
VANGUARD INTL EQUITY INDEX F ALLWRLD EX US 922042775 559 12,945 SH   SOLE 12,945 0 0
VERISK ANALYTICS INC COM 92345Y106 261,097 3,266,980 SH   SOLE 3,266,980 0 0
WATERS CORP COM 941848103 130,209 987,031 SH   SOLE 987,031 0 0
WELLS FARGO & CO NEW COM 949746101 188,725 3,902,501 SH   SOLE 3,902,501 0 0
WPP PLC NEW ADR 92937A102 210,650 1,809,242 SH   SOLE 1,809,242 0 0
YANDEX N V SHS CLASS A N97284108 87,821 5,732,434 SH   SOLE 5,732,434 0 0