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
ARCOS DORADOS HOLDINGS INC SHS CLASS -A - G0457F107 293 24,200 SH   SOLE   24,200 0 0
ENSCO PLC SHS CLASS A G3157S106 16,951 296,458 SH   SOLE   17,958 2,000 276,500
MARVELL TECHNOLOGY GROUP LTD ORD G5876H105 427 29,666 SH   SOLE   29,666 0 0
RENAISSANCERE HOLDINGS LTD COM G7496G103 17,693 181,768 SH   SOLE   9,068 1,200 171,500
WEATHERFORD INTERNATIONAL LT REG SHS H27013103 96,916 6,256,713 SH   SOLE   379,913 39,300 5,837,500
TE CONNECTIVITY LTD REG SHS H84989104 22,016 399,506 SH   SOLE   12,029 2,400 385,077
YANDEX N V SHS CLASS A N97284108 328 7,600 SH   SOLE   0 7,600 0
ABERCROMBIE & FITCH CO CL A 002896207 1,988 60,400 SH   SOLE   60,400 0 0
AEROPOSTALE COM 007865108 1,647 181,300 SH   SOLE   181,300 0 0
APACHE CORP COM 037411105 2,854 33,200 SH   SOLE   33,200 0 0
APOLLO ED GROUP INC CL A 037604105 1,692 61,900 SH   SOLE   61,900 0 0
ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH 03938L104 1,038 58,200 SH   SOLE   31,300 0 26,900
BP PLC SPONSORED ADR 055622104 35,857 737,648 SH   SOLE   30,740 4,750 702,158
BANCO SANTANDER SA ADR 05964H105 802 88,499 SH   SOLE   51,755 0 36,744
BANK NEW YORK MELLON CORP COM 064058100 3,274 93,701 SH   SOLE   93,701 0 0
BARCLAYS PLC ADR 06738E204 601 33,193 SH   SOLE   20,271 0 12,922
CAPITAL ONE FINL CORP COM 14040H105 2,435 31,783 SH   SOLE   31,783 0 0
CITIGROUP INC COM NEW 172967424 1,343 25,781 SH   SOLE   25,781 0 0
COACH INC COM 189754104 4,859 86,550 SH   SOLE   86,550 0 0
COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102 163 14,388 SH   SOLE   14,388 0 0
CREDIT SUISSE GROUP SPONSORED ADR 225401108 2,162 69,669 SH   SOLE   49,660 0 20,009
DEVRY ED GROUP INC COM 251893103 2,148 60,500 SH   SOLE   60,500 0 0
DOLLAR GEN CORP NEW COM 256677105 1,809 30,000 SH   SOLE   30,000 0 0
GENERAL DYNAMICS CORP COM 369550108 873 9,136 SH   SOLE   9,136 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 2,512 14,167 SH   SOLE   14,167 0 0
GUESS INC COM 401617105 1,760 56,651 SH   SOLE   56,651 0 0
INFOSYS LTD SPONSORED ADR 456788108 22,930 405,115 SH   SOLE   28,615 2,500 374,000
KOHLS CORP COM 500255104 4,996 88,043 SH   SOLE   88,043 0 0
L-3 COMMUNICATIONS HLDGS INC COM 502424104 742 6,944 SH   SOLE   6,944 0 0
MICROSOFT CORP COM 594918104 2,895 77,334 SH   SOLE   77,334 0 0
ORACLE CORP COM 68389X105 5,915 154,601 SH   SOLE   154,601 0 0
PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101 14,725 1,002,364 SH   SOLE   19,064 0 983,300
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 13,915 1,009,678 SH   SOLE   167,778 13,500 828,400
PROCTER & GAMBLE CO COM 742718109 382 4,699 SH   SOLE   4,699 0 0
QUALCOMM INC COM 747525103 2,569 34,600 SH   SOLE   34,600 0 0
RENREN INC SPONSORED ADR 759892102 302 98,906 SH   SOLE   98,906 0 0
ROYAL BK SCOTLAND GROUP PLC SPONS ADR 20 ORD 780097689 668 58,900 SH   SOLE   58,900 0 0
SOUTHWESTERN ENERGY CO COM 845467109 1,537 39,074 SH   SOLE   39,074 0 0
TRW AUTOMOTIVE HLDGS CORP COM 87264S106 2,023 27,202 SH   SOLE   27,202 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 288 16,493 SH   SOLE   16,493 0 0
ULTRA PETROLEUM CORP COM 903914109 59,251 2,736,746 SH   SOLE   255,441 15,600 2,465,705
WYNN RESORTS LTD COM 983134107 1,127 5,802 SH   SOLE   5,802 0 0