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 50,688 1,262,700 SH   SOLE NO 555,100 0 707,600
AMERICAN AIRLS GROUP INC COM 02376R102 61,787 2,351,316 SH   SOLE NO 1,061,474 0 1,289,842
ANADARKO PETE CORP COM 032511107 52,007 628,200 SH   SOLE NO 281,500 0 346,700
APOLLO ED GROUP INC CL A 037604105 60,351 2,123,686 SH   SOLE NO 1,042,186 0 1,081,500
BOEING CO COM 097023105 85,848 602,322 SH   SOLE NO 267,300 0 335,022
CARNIVAL CORP PAIRED CTF 143658300 49,872 1,189,400 SH   SOLE NO 530,100 0 659,300
CITIGROUP INC COM NEW 172967424 79,843 1,467,600 SH   SOLE NO 653,300 0 814,300
DISNEY WALT CO COM DISNEY 254687106 30,377 380,800 SH   SOLE NO 169,500 0 211,300
E M C CORP MASS COM 268648102 60,289 2,296,761 SH   SOLE NO 1,026,261 0 1,270,500
FIRST AMERN FINL CORP COM 31847R102 48,804 1,657,732 SH   SOLE NO 739,876 0 917,856
JOHNSON & JOHNSON COM 478160104 53,496 559,450 SH   SOLE NO 249,750 0 309,700
JPMORGAN CHASE & CO COM 46625H100 47,119 771,846 SH   SOLE NO 344,691 0 427,155
LORILLARD INC COM 544147101 27,252 515,000 SH   SOLE NO 226,900 0 288,100
MICROSOFT CORP COM 594918104 82,840 2,120,352 SH   SOLE NO 948,752 0 1,171,600
NATIONAL OILWELL VARCO INC COM 637071101 66,099 796,200 SH   SOLE NO 355,600 0 440,600
ORACLE CORP COM 68389X105 86,749 2,179,800 SH   SOLE NO 1,062,500 0 1,117,300
UNITEDHEALTH GROUP INC COM 91324P102 96,767 1,233,818 SH   SOLE NO 590,018 0 643,800
WELLS FARGO & CO NEW COM 949746101 66,049 1,393,500 SH   SOLE NO 621,900 0 771,600
WESTERN UN CO COM 959802109 54,634 3,031,265 SH   SOLE NO 1,341,265 0 1,690,000
ABB LTD SPONSORED ADR 000375204 9,461 356,213 SH   SOLE NO 356,213 0 0
BANCO BILBAO VIZCAYA ARGENTA SPONSORED ADR 05946K101 7,826 631,612 SH   SOLE NO 631,612 0 0
BARCLAYS PLC ADR 06738E204 15,054 830,350 SH   SOLE NO 830,350 0 0
BRITISH AMERN TOB PLC SPONSORED ADR 110448107 17,927 166,891 SH   SOLE NO 166,891 0 0
CARNIVAL PLC ADR 14365C103 7,798 188,139 SH   SOLE NO 188,139 0 0
CNOOC LTD SPONSORED ADR 126132109 15,096 80,446 SH   SOLE NO 80,446 0 0
HSBC HOLDINGS PLC SPON ADR NEW 404280406 16,732 303,508 SH   SOLE NO 303,508 0 0
IMPERIAL OIL LTD COM NEW 453038408 16,675 377,011 SH   SOLE NO 377,011 0 0
KOREA ELECTRIC PWR SPONSORED ADR 500631106 13,850 908,679 SH   SOLE NO 833,845 0 74,834
LLOYDS BANKING GROUP PLC SPONSORED ADR 539439109 15,298 2,875,540 SH   SOLE NO 2,875,540 0 0
NOVARTIS A G SPONSORED ADR 66987V109 22,646 281,741 SH   SOLE NO 281,741 0 0
REED ELSEVIER N V SPONS ADR NEW 758204200 23,982 562,032 SH   SOLE NO 562,032 0 0
RIO TINTO PLC SPONSORED ADR 767204100 7,243 128,359 SH   SOLE NO 128,359 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 16,345 229,346 SH   SOLE NO 229,346 0 0
RYANAIR HLDGS PLC SPONSORED ADR 783513104 96,331 2,052,646 SH   SOLE NO 1,643,681 0 408,965
SANOFI SPONSORED ADR 80105N105 23,132 431,317 SH   SOLE NO 431,317 0 0
SAP AG SPON ADR 803054204 9,393 107,789 SH   SOLE NO 107,789 0 0
SIEMENS A G SPONSORED ADR 826197501 22,529 162,654 SH   SOLE NO 162,654 0 0
SUMITOMO MITSUI FINL GROUP I SPONSORED ADR 86562M209 9,379 894,045 SH   SOLE NO 894,045 0 0
TOTAL S A SPONSORED ADR 89151E109 13,302 217,110 SH   SOLE NO 217,110 0 0
TOYOTA MOTOR CORP SP ADR REP2COM 892331307 14,474 118,719 SH   SOLE NO 118,719 0 0
UBS AG SHS NEW H89231338 18,531 962,635 SH   SOLE NO 962,635 0 0
VODAFONE GROUP PLC NEW SPON ADR NEW 92857W209 17,573 447,031 SH   SOLE NO 447,031 0 0
ADVANCED SEMICONDUCTOR ENGR SPONSORED ADR 00756M404 707 147,296 SH   SOLE NO 0 0 147,296
AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 339 14,500 SH   SOLE NO 6,200 0 8,300
AU OPTRONICS CORP SPONSORED ADR 002255107 978 313,512 SH   SOLE NO 0 0 313,512
BRF SA SPONSORED ADR 10552T107 1,507 72,200 SH   SOLE NO 24,000 0 48,200
CHINA MOBILE LIMITED SPONSORED ADR 16941M109 4,398 84,100 SH   SOLE NO 25,600 0 58,500
CHINA PETE & CHEM CORP SPON ADR H SHS 16941R108 6,311 76,810 SH   SOLE NO 40,910 0 35,900
CHINA YUCHAI INTL LTD COM G21082105 3,197 153,169 SH   SOLE NO 89,600 0 63,569
CHUNGHWA TELECOM CO LTD SPON ADR NEW11 17133Q502 230 7,423 SH   SOLE NO 0 0 7,423
COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102 1,822 160,700 SH   SOLE NO 118,300 0 42,400
DR REDDYS LABS LTD ADR 256135203 10,517 256,481 SH   SOLE NO 145,081 0 111,400
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 2,300 23,500 SH   SOLE NO 17,900 0 5,600
GIANT INTERACTIVE GROUP INC ADR 374511103 146 13,000 SH   SOLE NO 0 0 13,000
HDFC BANK LTD ADR REPS 3 SHS 40415F101 156 4,516 SH   SOLE NO 0 0 4,516
ICICI BK LTD ADR 45104G104 268 7,200 SH   SOLE NO 0 0 7,200
INFOSYS LTD SPONSORED ADR 456788108 4,075 71,995 SH   SOLE NO 0 0 71,995
ISHARES MSCI EMG MKT ETF 464287234 4,048 96,900 SH   SOLE NO 96,900 0 0
KT CORP SPONSORED ADR 48268K101 2,922 174,339 SH   SOLE NO 69,600 0 104,739
PETROCHINA CO LTD SPONSORED ADR 71646E100 3,262 31,707 SH   SOLE NO 22,500 0 9,207
PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101 12,162 827,900 SH   SOLE NO 495,600 0 332,300
SESA GOA LTD SPONSORED ADR 78413F103 381 28,975 SH   SOLE NO 0 0 28,975
SHANDA GAMES LTD SP ADR REPTG A 81941U105 3,643 795,400 SH   SOLE NO 705,900 0 89,500
SILICONWARE PRECISION INDS L SPONSD ADR SPL 827084864 489 81,769 SH   SOLE NO 0 0 81,769
SK TELECOM LTD SPONSORED ADR 78440P108 34,805 1,484,595 SH   SOLE NO 1,251,928 0 232,667
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 9,403 539,191 SH   SOLE NO 302,800 0 236,391
TATA MTRS LTD SPONSORED ADR 876568502 6,936 225,203 SH   SOLE NO 32,700 0 192,503
UNITED MICROELECTRONICS CORP SPON ADR NEW 910873405 263 202,149 SH   SOLE NO 92,000 0 110,149
VALE S A ADR REPSTG PFD 91912E204 14,521 1,036,440 SH   SOLE NO 697,100 0 339,340
WIPRO LTD SPON ADR 1 SH 97651M109 227 18,000 SH   SOLE NO 0 0 18,000
WISDOMTREE TRUST INDIA ERNGS FD 97717W422 37,536 2,152,300 SH   SOLE NO 539,900 0 1,612,400
WUXI PHARMATECH CAYMAN INC SPONS ADR SHS 929352102 5,312 138,400 SH   SOLE NO 94,000 0 44,400