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 80,636 5,039,758 SH   SOLE   3,492,888 0 1,546,870
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 11,366 138,546 SH   SOLE   138,546 0 0
COLGATE PALMOLIVE CO COM 194162103 15,289 222,102 SH   SOLE   222,102 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 2,008 21,247 SH   SOLE   21,247 0 0
HDFC BANK LTD ADR REPS 3 SHS 40415F101 103,760 1,637,370 SH   SOLE   1,029,820 0 607,550
MERCADOLIBRE INC COM 58733R102 104,327 182,409 SH   SOLE   120,125 0 62,284
P T TELEKOMUNIKASI INDONESIA SPONSORED ADR 715684106 3,881 136,203 SH   SOLE   136,203 0 0
S&P GLOBAL INC COM 78409V104 2,228 8,163 SH   SOLE   8,163 0 0
SILICON MOTION TECHNOLOGY CO SPONSORED ADR 82706C108 12,672 249,897 SH   SOLE   249,897 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 207,447 3,570,517 SH   SOLE   2,750,884 0 819,633
GRUPO AEROPORTUARIO CTR NORT SPON ADR 400506101 3,620 30,528 SH   SOLE   30,528 0 0
AMBEV SA SPONSORED ADR 02319V103 14,303 3,069,497 SH   SOLE   3,069,497 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 61,286 6,697,978 SH   SOLE   5,055,716 0 1,642,262
MARSH & MCLENNAN COS INC COM 571748102 1,417 12,719 SH   SOLE   12,719 0 0
VISA INC COM 92826C839 206 1,099 SH   SOLE   1,099 0 0
ELECTRONIC ARTS INC COM 285512109 258 2,405 SH   SOLE   2,405 0 0
CERNER CORP COM 156782104 248 3,381 SH   SOLE   3,381 0 0