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
ALTRIA GROUP INC COM 02209S103 82,012 1,412,837 SH   SOLE NO 974,037 0 438,800
APOLLO ED GROUP INC CL A 037604105 39,318 1,561,751 SH   SOLE NO 931,686 0 630,065
CARNIVAL CORP PAIRED CTF 143658300 120,138 1,884,678 SH   SOLE NO 1,127,278 0 757,400
CHEVRON CORP NEW COM 166764100 136,865 972,102 SH   SOLE NO 579,169 0 392,933
CITIGROUP INC COM NEW 172967424 192,619 2,843,903 SH   SOLE NO 1,746,803 0 1,097,100
DELTA AIR LINES INC DEL COM NEW 247361702 136,067 2,280,253 SH   SOLE NO 1,366,206 0 914,047
DISNEY WALT CO COM DISNEY 254687106 67,040 479,074 SH   SOLE NO 286,474 0 192,600
E M C CORP MASS COM 268648102 141,041 4,125,740 SH   SOLE NO 2,442,540 0 1,683,200
JOHNSON & JOHNSON COM 478160104 115,337 855,044 SH   SOLE NO 506,044 0 349,000
LILLY ELI & CO COM 532457108 153,608 1,566,286 SH   SOLE NO 919,324 0 646,962
MATTEL INC COM 577081102 70,839 2,315,040 SH   SOLE NO 1,384,140 0 930,900
MICROSOFT CORP COM 594918104 155,482 2,854,344 SH   SOLE NO 1,707,144 0 1,147,200
NATIONAL OILWELL VARCO INC COM 637071101 154,638 2,341,046 SH   SOLE NO 1,444,346 0 896,700
ORACLE CORP COM 68389X105 174,958 3,069,061 SH   SOLE NO 1,886,661 0 1,182,400
PNC FINL SVCS GROUP INC COM 693475105 62,823 503,289 SH   SOLE NO 298,089 0 205,200
PRUDENTIAL FINL INC COM 744320102 100,688 941,735 SH   SOLE NO 564,135 0 377,600
PVH CORP COM 693656100 104,580 740,320 SH   SOLE NO 441,120 0 299,200
QUALCOMM INC COM 747525103 140,281 1,504,909 SH   SOLE NO 893,109 0 611,800
SM ENERGY CO COM 78454L100 39,449 565,082 SH   SOLE NO 339,010 0 226,072
SYNNEX CORP COM 87162W100 113,538 1,106,986 SH   SOLE NO 661,747 0 445,239
UNITEDHEALTH GROUP INC COM 91324P102 113,618 722,588 SH   SOLE NO 432,388 0 290,200
U S G CORP COM NEW 903293405 98,984 2,796,905 SH   SOLE NO 1,673,005 0 1,123,900
WELLS FARGO & CO NEW COM 949746101 117,078 1,620,323 SH   SOLE NO 970,623 0 649,700
AVIVA PLC ADR 05382A104 19,765 1,222,328 SH   SOLE NO 1,222,328 0 0
AXA SPONSORED ADR 054536107 9,539 377,932 SH   SOLE NO 377,932 0 0
BARCLAYS PLC ADR 06738E204 19,375 1,329,804 SH   SOLE NO 1,329,804 0 0
BRITISH AMERN TOB PLC SPONSORED ADR 110448107 22,783 219,557 SH   SOLE NO 219,557 0 0
CARNIVAL PLC ADR 14365C103 16,659 340,058 SH   SOLE NO 340,058 0 0
CNOOC LTD SPONSORED ADR 126132109 10,660 75,163 SH   SOLE NO 75,163 0 0
CLARIANT AG NOT 13F 18047P101 9,494 473,987 SH   SOLE NO 473,987 0 0
CREDIT SUISSE GROUP SPONSORED ADR 225401108 10,061 373,600 SH   SOLE NO 373,600 0 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 20,288 439,614 SH   SOLE NO 439,614 0 0
HSBC HOLDINGS PLC SPON ADR NEW 404280406 16,070 377,310 SH   SOLE NO 377,310 0 0
IMPERIAL OIL LTD COM NEW 453038408 6,970 174,776 SH   SOLE NO 174,776 0 0
KOMATSU LTD NOT 13F 500458401 11,000 561,243 SH   SOLE NO 561,243 0 0
LLOYDS BANKING GROUP PLC SPONSORED ADR 539439109 15,314 3,279,141 SH   SOLE NO 3,279,141 0 0
NOVARTIS A G SPONSORED ADR 66987V109 21,956 222,652 SH   SOLE NO 222,652 0 0
REED ELSEVIER N V SPONS ADR NEW 758204200 30,540 613,256 SH   SOLE NO 613,256 0 0
RIO TINTO PLC SPONSORED ADR 767204100 8,612 208,027 SH   SOLE NO 208,027 0 0
RYANAIR HLDGS PLC SPONSORED ADR 783513104 151,867 2,274,481 SH   SOLE NO 1,785,416 0 489,065
SANOFI SPONSORED ADR 80105N105 23,601 477,367 SH   SOLE NO 477,367 0 0
SAP AG SPON ADR 803054204 10,931 151,467 SH   SOLE NO 151,467 0 0
SUMITOMO MITSUI FINL GROUP I SPONSORED ADR 86562M209 16,810 2,171,860 SH   SOLE NO 2,171,860 0 0
TOTAL S A SPONSORED ADR 89151E109 17,388 350,133 SH   SOLE NO 350,133 0 0
TOYOTA MOTOR CORP SP ADR REP2COM 892331307 19,631 140,333 SH   SOLE NO 140,333 0 0
UBS AG SHS NEW H89231338 24,744 1,318,271 SH   SOLE NO 1,318,271 0 0
VODAFONE GROUP PLC NEW SPON ADR NEW 92857W209 12,407 379,659 SH   SOLE NO 379,659 0 0
ADVANCED SEMICONDUCTOR ENGR SPONSORED ADR 00756M404 439 60,996 SH   SOLE NO 0 0 60,996
AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 8,628 421,700 SH   SOLE NO 421,700 0 0
AU OPTRONICS CORP SPONSORED ADR 002255107 2,271 453,312 SH   SOLE NO 0 0 453,312
BRF SA SPONSORED ADR 10552T107 1,163 58,800 SH   SOLE NO 24,000 0 34,800
CHINA MOBILE LIMITED SPONSORED ADR 16941M109 75,193 1,156,275 SH   SOLE NO 849,975 0 306,300
CHANGYOU COM LTD ADS REP CL A 15911M107 1,807 69,800 SH   SOLE NO 26,000 0 43,800
CHINA PETE & CHEM CORP SPON ADR H SHS 16941R108 2,136 26,810 SH   SOLE NO 2,110 0 24,700
CHINA YUCHAI INTL LTD COM G21082105 1,640 83,100 SH   SOLE NO 34,600 0 48,500
CHUNGHWA TELECOM CO LTD SPON ADR NEW11 17133Q502 261 8,123 SH   SOLE NO 0 0 8,123
DR REDDYS LABS LTD ADR 256135203 30,554 535,100 SH   SOLE NO 35,900 0 499,200
HDFC BANK LTD ADR REPS 3 SHS 40415F101 496 8,416 SH   SOLE NO 0 0 8,416
ICICI BK LTD ADR 45104G104 38,124 3,679,875 SH   SOLE NO 72,000 0 3,607,875
INFOSYS LTD SPONSORED ADR 456788108 20,525 585,100 SH   SOLE NO 7,400 0 577,700
ISHARES TR MSCI EMG MKT ETF 464287234 31,020 773,000 SH   SOLE NO 773,000 0 0
ISHARES TR MSCI INDIA ETF 46429B598 8,023 250,000 SH   SOLE NO 0 0 250,000
JA SOLAR HOLDINGS CO LTD SPON ADR REP5ORD 466090206 857 89,600 SH   SOLE NO 23,300 0 66,300
KOREA ELECTRIC PWR SPONSORED ADR 500631106 2,565 125,100 SH   SOLE NO 0 0 125,100
KT CORP SPONSORED ADR 48268K101 991 75,800 SH   SOLE NO 0 0 75,800
LG DISPLAY CO LTD SPONS ADR REP 50186V102 1,311 91,600 SH   SOLE NO 0 0 91,600
MARKET VECTORS ETF TR INDIA SMALL CP 57061R551 283 6,000 SH   SOLE NO 6,000 0 0
MOBILE TELSYSTEMS OJSC SPONSORED ADR 607409109 8,557 847,250 SH   SOLE NO 0 0 847,250
NETEASE INC SPONSORED ADR 64110W102 11,836 112,400 SH   SOLE NO 101,800 0 10,600
PETROCHINA CO LTD SPONSORED ADR 71646E100 1,591 14,307 SH   SOLE NO 6,200 0 8,107
PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101 40,990 6,730,700 SH   SOLE NO 2,733,600 0 3,997,100
SESA GOA LTD SPONSORED ADR 78413F103 282 22,775 SH   SOLE NO 0 0 22,775
SILICONWARE PRECISION INDS L SPONSD ADR SPL 827084864 513 62,669 SH   SOLE NO 0 0 62,669
SK TELECOM LTD SPONSORED ADR 78440P108 78,551 2,886,854 SH   SOLE NO 2,670,580 0 216,274
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 124,447 5,300,133 SH   SOLE NO 1,971,100 0 3,329,033
TATA MTRS LTD SPONSORED ADR 876568502 38,837 868,375 SH   SOLE NO 196,565 0 671,810
UNITED MICROELECTRONICS CORP SPON ADR NEW 910873405 293 120,249 SH   SOLE NO 0 0 120,249
VALE S A ADR REPSTG PFD 91912E204 7,680 1,583,500 SH   SOLE NO 7,100 0 1,576,400
VANGUARD INTL EQUITY INDEX F MSCI EMR MKT ETF 922042858 31,280 765,356 SH   SOLE NO 765,356 0 0
WIPRO LTD SPON ADR 1 SH 97651M109 131 9,800 SH   SOLE NO 0 0 9,800
WISDOMTREE TRUST INDIA ERNGS FD 97717W422 93,674 4,108,500 SH   SOLE NO 463,700 0 3,644,800
WUXI PHARMATECH CAYMAN INC SPONS ADR SHS 929352102 4,095 105,600 SH   SOLE NO 70,600 0 35,000