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 138,394 587,983 SH   SOLE   587,983 0 0
51JOB INC SP ADR REP COM 316827104 270,965 4,452,996 SH   SOLE   4,452,996 0 0
ABBOTT LABS COM 002824100 132,846 2,327,764 SH   SOLE   2,327,764 0 0
ADOBE SYS INC COM 00724F101 16 90 SH   SOLE   90 0 0
AIR PRODS & CHEMS INC COM 009158106 53 320 SH   SOLE   320 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 245,023 1,421,001 SH   SOLE   1,421,001 0 0
ALLSTATE CORP COM 020002101 320 3,058 SH   SOLE   3,058 0 0
ALPHABET INC CAP STK CL A 02079K305 47 45 SH   SOLE   45 0 0
AMAZON COM INC COM 023135106 146,900 125,612 SH   SOLE   125,612 0 0
AMBEV SA SPONSORED ADR 02319V103 158,831 24,586,874 SH   SOLE   24,586,874 0 0
AMERISOURCEBERGEN CORP COM 03073E105 148,136 1,613,330 SH   SOLE   1,613,330 0 0
AMETEK INC NEW COM 031100100 67 920 SH   SOLE   920 0 0
AMPHENOL CORP NEW CL A 032095101 61 700 SH   SOLE   700 0 0
ANTHEM INC COM 036752103 180 800 SH   SOLE   800 0 0
APPLE INC COM 037833100 218,159 1,289,125 SH   SOLE   1,289,125 0 0
ASML HOLDING N V N Y REGISTRY SHS N07059210 94 540 SH   SOLE   540 0 0
AUTOMATIC DATA PROCESSING IN COM 053015103 63 540 SH   SOLE   540 0 0
AVERY DENNISON CORP COM 053611109 69 600 SH   SOLE   600 0 0
BAIDU INC SPON ADR REP A 056752108 856,854 3,658,486 SH   SOLE   3,658,486 0 0
BANCO BILBAO VIZCAYA ARGENTA SPONSORED ADR 05946K101 245,065 28,831,178 SH   SOLE   28,831,178 0 0
BANCO BRADESCO S A SP ADR PFD NEW 059460303 245,318 23,956,804 SH   SOLE   23,956,804 0 0
BANCO MACRO SA SPON ADR B 05961W105 107,450 927,256 SH   SOLE   927,256 0 0
BANCO SANTANDER CHILE NEW SP ADR REP COM 05965X109 197,592 6,318,906 SH   SOLE   6,318,906 0 0
BANCOLOMBIA S A SPON ADR PREF 05968L102 162,875 4,106,788 SH   SOLE   4,106,788 0 0
CANADIAN NATL RY CO COM 136375102 551,204 6,681,267 SH   SOLE   6,681,267 0 0
CHECK POINT SOFTWARE TECH LT ORD M22465104 721,704 6,964,902 SH   SOLE   6,964,902 0 0
CHINA MOBILE LIMITED SPONSORED ADR 16941M109 157,898 3,124,225 SH   SOLE   3,124,225 0 0
CHURCH & DWIGHT INC COM 171340102 54 1,080 SH   SOLE   1,080 0 0
CISCO SYS INC COM 17275R102 60 1,560 SH   SOLE   1,560 0 0
CNOOC LTD SPONSORED ADR 126132109 306,688 2,136,304 SH   SOLE   2,136,304 0 0
COCA COLA FEMSA S A B DE C V SPON ADR REP L 191241108 16,871 242,332 SH   SOLE   242,332 0 0
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 145,391 2,047,191 SH   SOLE   2,047,191 0 0
COLGATE PALMOLIVE CO COM 194162103 180,787 2,396,117 SH   SOLE   2,396,117 0 0
COMPANHIA BRASILEIRA DE DIST SPN ADR PFD CL A 20440T201 152,531 6,471,390 SH   SOLE   6,471,390 0 0
COSTCO WHSL CORP NEW COM 22160K105 66 355 SH   SOLE   355 0 0
CREDICORP LTD COM G2519Y108 217,744 1,049,723 SH   SOLE   1,049,723 0 0
CTRIP COM INTL LTD AMERICAN DEP SHS 22943F100 106,193 2,407,999 SH   SOLE   2,407,999 0 0
DEERE & CO COM 244199105 31 200 SH   SOLE   200 0 0
DISNEY WALT CO COM DISNEY 254687106 140,103 1,303,159 SH   SOLE   1,303,159 0 0
EBAY INC COM 278642103 144,125 3,818,894 SH   SOLE   3,818,894 0 0
ECOLAB INC COM 278865100 54 400 SH   SOLE   400 0 0
ECOPETROL S A SPONSORED ADS 279158109 12,521 855,830 SH   SOLE   855,830 0 0
ENCANA CORP COM 292505104 76 5,670 SH   SOLE   5,670 0 0
EPAM SYS INC COM 29414B104 16 150 SH   SOLE   150 0 0
EQUIFAX INC COM 294429105 18 150 SH   SOLE   150 0 0
EXXON MOBIL CORP COM 30231G102 128,809 1,540,041 SH   SOLE   1,540,041 0 0
FACEBOOK INC CL A 30303M102 222,113 1,258,711 SH   SOLE   1,258,711 0 0
FIRST REP BK SAN FRANCISCO C COM 33616C100 186,364 2,151,011 SH   SOLE   2,151,011 0 0
FISERV INC COM 337738108 59 450 SH   SOLE   450 0 0
FLOWSERVE CORP COM 34354P105 22 530 SH   SOLE   530 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 94,670 1,008,201 SH   SOLE   1,008,201 0 0
FRESENIUS MED CARE AG&CO KGA SPONSORED ADR 358029106 210,006 3,996,318 SH   SOLE   3,996,318 0 0
GARTNER INC COM 366651107 55 450 SH   SOLE   450 0 0
GRIFOLS S A SP ADR REP B NVT 398438408 361,746 15,782,988 SH   SOLE   15,782,988 0 0
GRUPO AEROPORTUARIO DEL SURE SPON ADR SER B 40051E202 241,224 1,321,704 SH   SOLE   1,321,704 0 0
GRUPO FINANCIERO GALICIA S A SP ADR 10 SH B 399909100 14,237 216,200 SH   SOLE   216,200 0 0
GRUPO FINANCIERO SANTANDER M SPON ADR SHS B 40053C105 58 7,980 SH   SOLE   7,980 0 0
GRUPO TELEVISA SA SPON ADR REP ORD 40049J206 64,684 3,464,644 SH   SOLE   3,464,644 0 0
HDFC BANK LTD ADR REPS 3 SHS 40415F101 346,196 3,405,099 SH   SOLE   3,405,099 0 0
HEALTHCARE SVCS GRP INC COM 421906108 12 220 SH   SOLE   220 0 0
HELMERICH & PAYNE INC COM 423452101 12 180 SH   SOLE   180 0 0
HSBC HLDGS PLC SPON ADR NEW 404280406 121,295 2,348,861 SH   SOLE   2,348,861 0 0
ICICI BK LTD ADR 45104G104 471,813 48,490,601 SH   SOLE   48,490,601 0 0
IDEXX LABS INC COM 45168D104 11 70 SH   SOLE   70 0 0
ILLINOIS TOOL WKS INC COM 452308109 133 800 SH   SOLE   800 0 0
ILLUMINA INC COM 452327109 13 60 SH   SOLE   60 0 0
INFOSYS LTD SPONSORED ADR 456788108 157 9,650 SH   SOLE   9,650 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 58 380 SH   SOLE   380 0 0
IPG PHOTONICS CORP COM 44980X109 191,548 894,544 SH   SOLE   894,544 0 0
IQVIA HLDGS INC COM 46266C105 57 580 SH   SOLE   580 0 0
ISHARES INC MSCI JPN ETF NEW 46434G822 9 150 SH   SOLE   150 0 0
ISHARES INC MSCI TURKEY ETF 464286715 5 110 SH   SOLE   110 0 0
ISHARES TR GLOBAL ENERG ETF 464287341 12 350 SH   SOLE   350 0 0
ISHARES TR MSCI INDIA ETF 46429B598 23,493 651,305 SH   SOLE   651,305 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 881,750 67,826,874 SH   SOLE   67,826,874 0 0
JD COM INC SPON ADR CL A 47215P106 265,632 6,413,134 SH   SOLE   6,413,134 0 0
JOHNSON & JOHNSON COM 478160104 112 800 SH   SOLE   800 0 0
JPMORGAN CHASE & CO COM 46625H100 61 570 SH   SOLE   570 0 0
LAUDER ESTEE COS INC CL A 518439104 64 500 SH   SOLE   500 0 0
LULULEMON ATHLETICA INC COM 550021109 23 290 SH   SOLE   290 0 0
MASTERCARD INCORPORATED CL A 57636Q104 208,019 1,374,336 SH   SOLE   1,374,336 0 0
MCDONALDS CORP COM 580135101 67 390 SH   SOLE   390 0 0
METTLER TOLEDO INTERNATIONAL COM 592688105 19 30 SH   SOLE   30 0 0
MICROSOFT CORP COM 594918104 118,131 1,381,005 SH   SOLE   1,381,005 0 0
MONSANTO CO NEW COM 61166W101 108,226 926,752 SH   SOLE   926,752 0 0
NETEASE INC SPONSORED ADR 64110W102 93,050 269,656 SH   SOLE   269,656 0 0
NEW ORIENTAL ED & TECH GRP I SPON ADR 647581107 73 780 SH   SOLE   780 0 0
NIKE INC CL B 654106103 330,900 5,290,176 SH   SOLE   5,290,176 0 0
NOBLE ENERGY INC COM 655044105 47 1,600 SH   SOLE   1,600 0 0
NOVARTIS A G SPONSORED ADR 66987V109 147 1,750 SH   SOLE   1,750 0 0
NVIDIA CORP COM 67066G104 12 60 SH   SOLE   60 0 0
PAYPAL HLDGS INC COM 70450Y103 434,083 5,896,260 SH   SOLE   5,896,260 0 0
PRAXAIR INC COM 74005P104 2,541 16,427 SH   SOLE   16,427 0 0
PRICE T ROWE GROUP INC COM 74144T108 66 630 SH   SOLE   630 0 0
PRICELINE GRP INC COM NEW 741503403 315,528 181,574 SH   SOLE   181,574 0 0
PRICESMART INC COM 741511109 4,792 55,652 SH   SOLE   55,652 0 0
PROCTER AND GAMBLE CO COM 742718109 125 1,360 SH   SOLE   1,360 0 0
PRUDENTIAL FINL INC COM 744320102 53 460 SH   SOLE   460 0 0
RED HAT INC COM 756577102 14 120 SH   SOLE   120 0 0
REGENERON PHARMACEUTICALS COM 75886F107 237,573 631,911 SH   SOLE   631,911 0 0
REINSURANCE GROUP AMER INC COM NEW 759351604 59 380 SH   SOLE   380 0 0
ROCKWELL AUTOMATION INC COM 773903109 33 170 SH   SOLE   170 0 0
ROLLINS INC COM 775711104 30 650 SH   SOLE   650 0 0
ROPER TECHNOLOGIES INC COM 776696106 377,830 1,458,802 SH   SOLE   1,458,802 0 0
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 301,881 4,420,582 SH   SOLE   4,420,582 0 0
SALESFORCE COM INC COM 79466L302 13 130 SH   SOLE   130 0 0
SAP SE SPON ADR 803054204 694,810 6,183,789 SH   SOLE   6,183,789 0 0
SASOL LTD SPONSORED ADR 803866300 88,385 2,583,590 SH   SOLE   2,583,590 0 0
SCHLUMBERGER LTD COM 806857108 662,599 9,832,307 SH   SOLE   9,832,307 0 0
SHIRE PLC SPONSORED ADR 82481R106 138,241 891,183 SH   SOLE   891,183 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 100,441 731,761 SH   SOLE   731,761 0 0
STARBUCKS CORP COM 855244109 135,127 2,352,905 SH   SOLE   2,352,905 0 0
SVB FINL GROUP COM 78486Q101 351,649 1,504,255 SH   SOLE   1,504,255 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 727,383 18,345,097 SH   SOLE   18,345,097 0 0
TENARIS S A SPONSORED ADR 88031M109 479,117 15,038,193 SH   SOLE   15,038,193 0 0
TEXAS INSTRS INC COM 882508104 41 390 SH   SOLE   390 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 11 60 SH   SOLE   60 0 0
TJX COS INC NEW COM 872540109 63 820 SH   SOLE   820 0 0
TRANSOCEAN LTD REG SHS H8817H100 2 218 SH   SOLE   218 0 0
ULTRAPAR PARTICIPACOES S A SP ADR REP COM 90400P101 160 7,040 SH   SOLE   7,040 0 0
UNILEVER PLC SPON ADR NEW 904767704 153,633 2,776,177 SH   SOLE   2,776,177 0 0
VANGUARD INTL EQUITY INDEX F ALLWRLD EX US 922042775 24,711 451,592 SH   SOLE   451,592 0 0
VERISK ANALYTICS INC COM 92345Y106 277,364 2,889,206 SH   SOLE   2,889,206 0 0
VISA INC COM CL A 92826C839 30 260 SH   SOLE   260 0 0
WABCO HLDGS INC COM 92927K102 134,621 938,126 SH   SOLE   938,126 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 107,208 1,476,284 SH   SOLE   1,476,284 0 0
WATERS CORP COM 941848103 168,521 872,307 SH   SOLE   872,307 0 0
WEIBO CORP SPONSORED ADR 948596101 653,782 6,319,181 SH   SOLE   6,319,181 0 0
WORKDAY INC CL A 98138H101 14 140 SH   SOLE   140 0 0
WPP PLC NEW ADR 92937A102 95,488 1,054,416 SH   SOLE   1,054,416 0 0
YANDEX N V SHS CLASS A N97284108 121,554 3,711,577 SH   SOLE   3,711,577 0 0
ZOETIS INC CL A 98978V103 27 380 SH   SOLE   380 0 0