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 72,105 4,852,320 SH   SOLE   3,305,450 0 1,546,870
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 12,805 134,573 SH   SOLE   134,573 0 0
COLGATE PALMOLIVE CO COM 194162103 19,877 270,395 SH   SOLE   270,395 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 1,130 12,339 SH   SOLE   12,339 0 0
HDFC BANK LTD ADR REPS 3 SHS 40415F101 122,139 2,140,920 SH   SOLE   1,533,370 0 607,550
MERCADOLIBRE INC COM 58733R102 92,392 167,610 SH   SOLE   110,845 0 56,765
P T TELEKOMUNIKASI INDONESIA SPONSORED ADR 715684106 2,128 70,677 SH   SOLE   70,677 0 0
S&P GLOBAL INC COM 78409V104 2,136 8,718 SH   SOLE   8,718 0 0
SILICON MOTION TECHNOLOGY CO SPONSORED ADR 82706C108 8,586 242,887 SH   SOLE   242,887 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 173,192 3,726,173 SH   SOLE   2,850,426 0 875,747
GRUPO AEROPORTUARIO CTR NORT SPON ADR 400506101 1,329 13,773 SH   SOLE   13,773 0 0
AMBEV SA SPONSORED ADR 02319V103 12,576 2,722,176 SH   SOLE   2,722,176 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 44,535 5,295,526 SH   SOLE   3,653,264 0 1,642,262
MARSH & MCLENNAN COS INC COM 571748102 1,364 13,633 SH   SOLE   13,633 0 0
ISHARES TR MSCI INDIA ETF 46429B598 422 12,568 SH   SOLE   12,568 0 0
ELECTRONIC ARTS INC COM 285512109 201 2,053 SH   SOLE   2,053 0 0
CERNER CORP COM 156782104 213 3,126 SH   SOLE   3,126 0 0