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 158,409 1,117,368 SH   SOLE 1,117,368 0 0
51JOB INC SP ADR REP COM 316827104 80,979 2,955,442 SH   SOLE 2,955,442 0 0
ABBOTT LABS COM 002824100 125,033 3,108,729 SH   SOLE 3,108,729 0 0
ABBVIE INC COM 00287Y109 140,403 2,580,455 SH   SOLE 2,580,455 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 1 11 SH   SOLE 11 0 0
ALLSTATE CORP COM 020002101 178 3,058 SH   SOLE 3,058 0 0
AMAZON COM INC COM 023135106 205,547 401,545 SH   SOLE 401,545 0 0
AMBEV SA SPONSORED ADR 02319V103 82,294 16,794,721 SH   SOLE 16,794,721 0 0
AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 76,062 4,595,874 SH   SOLE 4,595,874 0 0
AMERICAN EXPRESS CO COM 025816109 207,483 2,798,897 SH   SOLE 2,798,897 0 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 231,164 2,174,227 SH   SOLE 2,174,227 0 0
ANTHEM INC COM 036752103 112 800 SH   SOLE 800 0 0
ARM HLDGS PLC SPONSORED ADR 042068106 222,961 5,155,155 SH   SOLE 5,155,155 0 0
ASML HOLDING N V N Y REGISTRY SHS N07059210 238 2,710 SH   SOLE 2,710 0 0
AVERY DENNISON CORP COM 053611109 34 600 SH   SOLE 600 0 0
BAIDU INC SPON ADR REP A 056752108 511,686 3,723,795 SH   SOLE 3,723,795 0 0
BANCO BILBAO VIZCAYA ARGENTA SPONSORED ADR 05946K101 72,034 8,606,132 SH   SOLE 8,606,132 0 0
BANCO BRADESCO S A SP ADR PFD NEW 059460303 90,905 16,959,796 SH   SOLE 16,959,796 0 0
BANCO SANTANDER CHILE NEW SP ADR REP COM 05965X109 82,183 4,510,587 SH   SOLE 4,510,587 0 0
BANCOLOMBIA S A SPON ADR PREF 05968L102 80,614 2,503,534 SH   SOLE 2,503,534 0 0
BHP BILLITON LTD SPONSORED ADR 088606108 1 27 SH   SOLE 27 0 0
BUNGE LIMITED COM G16962105 346,266 4,723,947 SH   SOLE 4,723,947 0 0
CANADIAN NATL RY CO COM 136375102 275,890 4,860,631 SH   SOLE 4,860,631 0 0
CARNIVAL PLC ADR 14365C103 1 13 SH   SOLE 13 0 0
CHECK POINT SOFTWARE TECH LT ORD M22465104 1 18 SH   SOLE 18 0 0
CHINA MOBILE LIMITED SPONSORED ADR 16941M109 197,030 3,311,435 SH   SOLE 3,311,435 0 0
CNOOC LTD SPONSORED ADR 126132109 84,731 821,995 SH   SOLE 821,995 0 0
COCA COLA FEMSA S A B DE C V SPON ADR REP L 191241108 13,414 193,341 SH   SOLE 193,341 0 0
COGNEX CORP COM 192422103 120,749 3,513,221 SH   SOLE 3,513,221 0 0
COLGATE PALMOLIVE CO COM 194162103 200,715 3,162,856 SH   SOLE 3,162,856 0 0
COMPANHIA BRASILEIRA DE DIST SPN ADR PFD CL A 20440T201 49,577 3,953,535 SH   SOLE 3,953,535 0 0
COPA HOLDINGS SA CL A P31076105 2,934 69,975 SH   SOLE 69,975 0 0
CREDICORP LTD COM G2519Y108 114,780 1,079,165 SH   SOLE 1,079,165 0 0
CTRIP COM INTL LTD AMERICAN DEP SHS 22943F100 219,642 3,476,457 SH   SOLE 3,476,457 0 0
DAVITA HEALTHCARE PARTNERS I COM 23918K108 237,796 3,287,654 SH   SOLE 3,287,654 0 0
DIAGEO P L C SPON ADR NEW 25243Q205 1 9 SH   SOLE 9 0 0
EBAY INC COM 278642103 135,384 5,539,448 SH   SOLE 5,539,448 0 0
ECOPETROL S A SPONSORED ADS 279158109 1,320 153,500 SH   SOLE 153,500 0 0
EXXON MOBIL CORP COM 30231G102 152,727 2,054,175 SH   SOLE 2,054,175 0 0
F5 NETWORKS INC COM 315616102 253,968 2,193,161 SH   SOLE 2,193,161 0 0
FACEBOOK INC CL A 30303M102 147,713 1,643,086 SH   SOLE 1,643,086 0 0
FIRST CASH FINL SVCS INC COM 31942D107 642 16,020 SH   SOLE 16,020 0 0
FIRST REP BK SAN FRANCISCO C COM 33616C100 271,354 4,322,981 SH   SOLE 4,322,981 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 47,041 527,067 SH   SOLE 527,067 0 0
FRESENIUS MED CARE AG&CO KGA SPONSORED ADR 358029106 91,501 2,345,586 SH   SOLE 2,345,586 0 0
GOOGLE INC CL A 38259P508 340,138 532,822 SH   SOLE 532,822 0 0
GRIFOLS S A SP ADR REP B NVT 398438408 54,792 1,802,364 SH   SOLE 1,802,364 0 0
GRUPO AEROPORTUARIO DEL SURE SPON ADR SER B 40051E202 138,539 909,822 SH   SOLE 909,822 0 0
GRUPO TELEVISA SA SPON ADR REP ORD 40049J206 100,049 3,845,095 SH   SOLE 3,845,095 0 0
HDFC BANK LTD ADR REPS 3 SHS 40415F101 1 13 SH   SOLE 13 0 0
HSBC HLDGS PLC SPON ADR NEW 404280406 1 39 SH   SOLE 39 0 0
ICICI BK LTD ADR 45104G104 549,450 65,566,816 SH   SOLE 65,566,816 0 0
ILLINOIS TOOL WKS INC COM 452308109 66 800 SH   SOLE 800 0 0
IMPERIAL OIL LTD COM NEW 453038408 204,880 6,481,483 SH   SOLE 6,481,483 0 0
IMS HEALTH HLDGS INC COM 44970B109 259,862 8,929,985 SH   SOLE 8,929,985 0 0
IPG PHOTONICS CORP COM 44980X109 146,695 1,930,972 SH   SOLE 1,930,972 0 0
ISHARES TR MSCI INDIA ETF 46429B598 23,552 824,364 SH   SOLE 824,364 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 219,088 33,094,850 SH   SOLE 33,094,850 0 0
JOHNSON & JOHNSON COM 478160104 75 800 SH   SOLE 800 0 0
LLOYDS BANKING GROUP PLC SPONSORED ADR 539439109 1 212 SH   SOLE 212 0 0
LUXOTTICA GROUP S P A SPONSORED ADR 55068R202 1,510 21,800 SH   SOLE 21,800 0 0
MASTERCARD INC CL A 57636Q104 251,411 2,789,733 SH   SOLE 2,789,733 0 0
MICROSOFT CORP COM 594918104 129,781 2,932,246 SH   SOLE 2,932,246 0 0
MONSANTO CO NEW COM 61166W101 106,662 1,249,848 SH   SOLE 1,249,848 0 0
NIKE INC CL B 654106103 483,743 3,933,836 SH   SOLE 3,933,836 0 0
NOBLE ENERGY INC COM 655044105 48 1,600 SH   SOLE 1,600 0 0
NOKIA CORP SPONSORED ADR 654902204 1 159 SH   SOLE 159 0 0
NOVO-NORDISK A S ADR 670100205 155,089 2,859,313 SH   SOLE 2,859,313 0 0
ORIX CORP SPONSORED ADR 686330101 1 12 SH   SOLE 12 0 0
PAYPAL HLDGS INC COM 70450Y103 171,969 5,540,255 SH   SOLE 5,540,255 0 0
PHILIPPINE LONG DISTANCE TEL SPONSORED ADR 718252604 1,962 42,500 SH   SOLE 42,500 0 0
PRECISION CASTPARTS CORP COM 740189105 340 1,480 SH   SOLE 1,480 0 0
PRICELINE GRP INC COM NEW 741503403 301,610 243,851 SH   SOLE 243,851 0 0
PRICESMART INC COM 741511109 8,064 104,270 SH   SOLE 104,270 0 0
PROCTER & GAMBLE CO COM 742718109 58 800 SH   SOLE 800 0 0
PRUDENTIAL PLC ADR 74435K204 1 25 SH   SOLE 25 0 0
RED HAT INC COM 756577102 122,337 1,701,969 SH   SOLE 1,701,969 0 0
ROPER TECHNOLOGIES INC COM 776696106 301,596 1,924,674 SH   SOLE 1,924,674 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 1 19 SH   SOLE 19 0 0
SALESFORCE COM INC COM 79466L302 132,766 1,912,222 SH   SOLE 1,912,222 0 0
SANOFI SPONSORED ADR 80105N105 1 22 SH   SOLE 22 0 0
SAP SE SPON ADR 803054204 292,066 4,507,898 SH   SOLE 4,507,898 0 0
SASOL LTD SPONSORED ADR 803866300 59,926 2,154,067 SH   SOLE 2,154,067 0 0
SCHLUMBERGER LTD COM 806857108 598,651 8,679,880 SH   SOLE 8,679,880 0 0
SHIRE PLC SPONSORED ADR 82481R106 54,491 265,512 SH   SOLE 265,512 0 0
STATOIL ASA SPONSORED ADR 85771P102 1 40 SH   SOLE 40 0 0
SUMITOMO MITSUI FINL GROUP I SPONSORED ADR 86562M209 2 198 SH   SOLE 198 0 0
SVB FINL GROUP COM 78486Q101 243,314 2,105,883 SH   SOLE 2,105,883 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 325,389 15,681,410 SH   SOLE 15,681,410 0 0
TENARIS S A SPONSORED ADR 88031M109 205,936 8,541,521 SH   SOLE 8,541,521 0 0
TORONTO DOMINION BK ONT COM NEW 891160509 1 22 SH   SOLE 22 0 0
TRANSOCEAN LTD REG SHS H8817H100 3 218 SH   SOLE 218 0 0
TRIMBLE NAVIGATION LTD COM 896239100 68,614 4,178,687 SH   SOLE 4,178,687 0 0
UNILEVER PLC SPON ADR NEW 904767704 89,522 2,195,240 SH   SOLE 2,195,240 0 0
V F CORP COM 918204108 327 4,800 SH   SOLE 4,800 0 0
VANGUARD INTL EQUITY INDEX F ALLWRLD EX US 922042775 7,269 170,508 SH   SOLE 170,508 0 0
VERISK ANALYTICS INC COM 92345Y106 282,376 3,820,539 SH   SOLE 3,820,539 0 0
VODAFONE GROUP PLC NEW SPNSR ADR NO PAR 92857W308 1 39 SH   SOLE 39 0 0
WATERS CORP COM 941848103 136,909 1,158,177 SH   SOLE 1,158,177 0 0
WELLS FARGO & CO NEW COM 949746101 233,515 4,547,530 SH   SOLE 4,547,530 0 0
WPP PLC NEW ADR 92937A102 185,536 1,783,479 SH   SOLE 1,783,479 0 0
YANDEX N V SHS CLASS A N97284108 81,048 7,553,443 SH   SOLE 7,553,443 0 0