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
AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 35,355 1,991,845 SH   SOLE   1,120,722 0 871,123
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 38,154 319,816 SH   SOLE   262,055 0 57,761
COLGATE PALMOLIVE CO COM 194162103 43,450 596,435 SH   SOLE   435,432 0 161,003
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 481 5,045 SH   SOLE   5,045 0 0
HDFC BANK LTD ADR REPS 3 SHS 40415F101 71,519 742,137 SH   SOLE   521,972 0 220,165
MERCADOLIBRE INC COM 58733R102 28,458 109,907 SH   SOLE   67,293 0 42,614
P T TELEKOMUNIKASI INDONESIA SPONSORED ADR 715684106 1,047 30,535 SH   SOLE   30,535 0 0
S&P GLOBAL INC COM 78409V104 786 5,029 SH   SOLE   5,029 0 0
SILICON MOTION TECHNOLOGY CO SPONSORED ADR 82706C108 31,938 664,963 SH   SOLE   569,105 0 95,858
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 78,242 2,083,697 SH   SOLE   1,635,364 0 448,333
TWENTY FIRST CENTY FOX INC CL B 90130A200 33,484 1,298,336 SH   SOLE   1,298,336 0 0
GRUPO AEROPORTUARIO CTR NORT SPON ADR 400506101 269 2,632 SH   SOLE   2,632 0 0