0001398344-11-001181.txt : 20110516
0001398344-11-001181.hdr.sgml : 20110516
20110516172518
ACCESSION NUMBER: 0001398344-11-001181
CONFORMED SUBMISSION TYPE: 13F-HR
PUBLIC DOCUMENT COUNT: 1
CONFORMED PERIOD OF REPORT: 20110331
FILED AS OF DATE: 20110516
DATE AS OF CHANGE: 20110516
EFFECTIVENESS DATE: 20110516
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: NEWGATE CAPITAL MANAGEMENT LLC
CENTRAL INDEX KEY: 0000939761
IRS NUMBER: 042941344
STATE OF INCORPORATION: MA
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 13F-HR
SEC ACT: 1934 Act
SEC FILE NUMBER: 028-03871
FILM NUMBER: 11848736
BUSINESS ADDRESS:
STREET 1: 80 FIELD POINT RD
STREET 2: 12TH FL
CITY: GREENWICH
STATE: CT
ZIP: 06830
BUSINESS PHONE: 2036610700
MAIL ADDRESS:
STREET 1: 80 FIELD POINT RD
CITY: GREENWICH
STATE: CT
ZIP: 06830
FORMER COMPANY:
FORMER CONFORMED NAME: NEWGATE LLP /CT
DATE OF NAME CHANGE: 19980123
FORMER COMPANY:
FORMER CONFORMED NAME: NEWGATE MANAGEMENT ASSOCIATES /NY
DATE OF NAME CHANGE: 19970725
13F-HR
1
fp0002954_13fhr.txt
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 13F
Form 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: March 31, 2011
Check here if Amendment [ ]; Amendment Number:
This Amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Newgate Capital Management LLC
Address: One Sound Shore Drive
Greenwich, CT 06830
Form 13F File Number: 28-4822
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Sonia Rosenbaum
Title: Managing Director
Phone: 203-661-0700
Signature, Place, and Date of Signing:
/s/ Sonia Rosenbaum Greenwich, CT 5/16/2011
------------------- ------------- ---------
[Signature] [City, State] [Date]
Report Type (Check only one.):
[X] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager
are reported in this report.)
[ ] 13F NOTICE. (Check here if no holdings reported are in this report, and
all holdings are reported by other reporting manager(s).)
[ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this
reporting manager are reported in this report and a portion are reported
by other reporting manager(s).)
List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]
Form 13F File Number Name
Form 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
-----------
Form 13F Information Table Entry Total: 216
-----------
Form 13F Information Table Value Total: $ 2,328,881
-----------
(thousands)
List of Other Included Managers:
Provide a numbered list of the names(s) and Form 13F file numbers(s) of all
institutional investment managers with respect to which this report is filed,
other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings
and list entries.]
NONE
ITEM 1: ITEM 2: ITEM 3: ITEM 4: ITEM 5: ITEM 6: ITEM 7: ITEM 8:
------------------------------- ---------- --------- ----------- ---------- ---------- --------- -----------------------
NAME OF ISSUER TITLE OF CUSIP FAIR SHARES OR INVESTMENT OTHER VOTING AUTHORITY
CLASS NUMBER MARKET PRINCIPAL DISCRETION MANAGERS -------- ------ -------
VALUE AMOUNT (A) (B) (C)
SOLE SHARED NONE
------------------------------- ---------- --------- ----------- ---------- ---------- --------- -----------------------
ABB LTD-SPON ADR SP ADR 000375204 18,505 765 SOLE N/A 765 0
ABERDEEN ASIA-PAC INCOME FD COM 003009107 8,921,855 1,287,425 SOLE N/A 1,283,021 4,404
AGRIUM INC COM 008916108 17,636,646 191,162 SOLE N/A 189,349 1,813
ALBEMARLE CORP COM 012653101 14,436,547 241,535 SOLE N/A 239,251 2,284
ALLIANCEBERNSTEIN INC FUND COM 01881E101 10,059,081 1,308,073 SOLE N/A 1,305,400 2,673
ALLIANCEBERNSTEIN INC FUND COM 01881E104 90,780 11,805 SOLE N/A 10,013 1,792
ALPHA NATURAL RESOURCES INC COM 02076X102 4,987 84 SOLE N/A 54 30
AMERICA MOVIL-ADR SERIES L SP ADR 02364W105 42,329,220 728,558 SOLE N/A 721,020 7,538
AMERICAN SELECT PORTFOLIO COM 029570108 5,721,176 555,454 SOLE N/A 553,568 1,886
AMERICAN STRATEGIC INC III COM 03009T101 3,103,597 406,230 SOLE N/A 404,969 1,261
AMERICAN STRATEGIC INCOME II COM 030099105 4,572,794 505,840 SOLE N/A 504,184 1,656
ANDERSONS INC/THE COM 034164103 21,041,291 431,882 SOLE N/A 427,537 4,345
ANGLO AMERICAN PLC-UNSP ADR ADR 03485P201 59,670 2,311 SOLE N/A 2,311 0
ANGLO AMERICAN PL-UNSPON ADR ADR 035078104 8,745,143 513,514 SOLE N/A 513,017 497
ANGLO AMERICAN PL-UNSPON ADR ADR 035078104 17,899 1,051 SOLE N/A 1,051 0
ANGLOGOLD ASHANTI-SPON ADR SP ADR 035128206 26,373 550 SOLE N/A 550 0
APACHE CORP COM 037411105 23,022,230 175,850 SOLE N/A 174,156 1,694
APPLE INC COM 037833100 580,962 1,667 SOLE N/A 1,667 0
ASHLAND INC COM 044209104 13,341,174 230,976 SOLE N/A 228,804 2,172
BAIDU INC - SPON ADR ADR 056752108 658,594 4,779 SOLE N/A 4,779 0
BANCO BRADESCO-ADR SP ADR 059460303 23,228,816 1,119,461 SOLE N/A 1,102,130 17,331
BANCO BRADESCO-ADR SP ADR 059460303 20,854 1,005 SOLE N/A 1,005 0
BANCO SANTANDER SA-SPON ADR ADR 05964H105 12,249 1,046 SOLE N/A 1,046 0
BANCO SANTANDER-CHILE-ADR SP ADR 05965X109 81,198 936 SOLE N/A 936 0
BANCOLOMBIA S.A.-SPONS ADR SP ADR 05968L102 17,294 276 SOLE N/A 276 0
BANK OF AMERICA CORP COM 060505104 311,122 23,340 SOLE N/A 23,340 0
BARCLAYS PLC-SPONS ADR ADR 06738E204 16,054 885 SOLE N/A 885 0
BASF SE-SPON ADR SP ADR 055262505 29,425 339 SOLE N/A 339 0
BLACKROCK CREDIT ALLOCATION COM 09249V103 10,094,079 958,602 SOLE N/A 955,377 3,225
BLACKROCK CREDIT ALLOCATION COM 09255H105 10,051,273 1,022,510 SOLE N/A 1,019,226 3,284
BLACKROCK DEBT STRATEGIES FD COM 09255R103 7,418,619 1,859,303 SOLE N/A 1,853,068 6,235
BLACKROCK ENHANCED GOVT FUND COM 09255K108 9,196,623 592,948 SOLE N/A 590,910 2,038
BLACKROCK MUNIASSETS FUND COM 09254J102 8,581,277 760,078 SOLE N/A 760,078 0
BLACKROCK MUNIYIELD NY QUALI COM 09255E102 390 32 SOLE N/A 32 0
BLACKROCK MUNIYIELD QUAL II COM 09254G108 225 20 SOLE N/A 20 0
BMW-UNSPONSORED ADR ADR 072743206 13,897 499 SOLE N/A 499 0
BNP PARIBAS-ADR ADR 05565A202 11,368 310 SOLE N/A 310 0
BRASIL TELECOM SA-ADR SP ADR 10553M101 3,433,457 127,118 SOLE N/A 127,118 0
BRASIL TELECOM SA-ADR SP ADR 10553M200 638,031 59,407 SOLE N/A 59,407 0
CAMERON INTERNATIONAL CORP COM 13342B105 11,849,792 207,527 SOLE N/A 205,535 1,992
CATERPILLAR INC COM 149123101 15,880,848 142,621 SOLE N/A 141,264 1,357
CELANESE CORP-SERIES A COM SER A 150870103 14,776,186 333,022 SOLE N/A 329,854 3,168
CEMIG SA -SPONS ADR SP ADR 204409601 340,173 17,653 SOLE N/A 17,653 0
CF INDUSTRIES HOLDINGS INC COM 125269100 15,091,121 110,323 SOLE N/A 109,285 1,038
CHESAPEAKE ENERGY CORP COM 165167107 939 28 SOLE N/A 0 28
CHINA CONSTRUCT-UNSPON ADR ADR 168919108 35,096,178 1,860,879 SOLE N/A 1,859,072 1,807
CHINA LIFE INSURANCE CO-ADR SP ADR 16939P106 31,645,438 564,593 SOLE N/A 553,425 11,168
CHINA MOBILE LTD-SPON ADR SP ADR 16941M109 105,543 2,282 SOLE N/A 2,282 0
CHINA PETROLEUM & CHEM-ADR SP ADR 16941R108 49,009,617 487,270 SOLE N/A 477,728 9,542
CHUNGHWA TELECOM LTD-ADR SP ADR 17133Q502 287,513 9,227 SOLE N/A 9,227 0
CIA DE MINAS BUENAVENTUR-ADR SP ADR 204448104 39,618 922 SOLE N/A 922 0
CIA SIDERURGICA NACL-SP ADR SP ADR 20440W105 5,431 326 SOLE N/A 67 259
CIE GEN GEOPHYSIQUE-SP ADR COM 204386106 12,847 355 SOLE N/A 355 0
CITIGROUP INC COM 172967101 2,631,138 59,528 SOLE N/A 59,528 0
CLIFFS NATURAL RESOURCES INC COM 18683K101 26,688,430 271,555 SOLE N/A 268,910 2,645
CNOOC LTD-ADR SP ADR 126132109 50,899,755 201,153 SOLE N/A 197,270 3,883
COMPANHIA DE BEBIDAS-PRF ADR SP ADR 20441W203 6,767,619 239,054 SOLE N/A 239,054 0
CONSOL ENERGY INC COM 20854P109 12,501,689 233,110 SOLE N/A 230,760 2,350
COSAN LTD-CLASS A SHARES COM G25343107 39,082,575 3,029,657 SOLE N/A 2,983,340 46,317
CREDICORP LTD COM G2519Y108 24,539,454 233,865 SOLE N/A 229,267 4,598
CREDIT SUISSE GROUP-SPON ADR SP ADR 225401108 9,197 216 SOLE N/A 216 0
CTRIP.COM INTERNATIONAL-ADR ADR 22943F100 61,163,396 1,474,172 SOLE N/A 1,453,086 21,086
DAIMLER AG-REGISTERED SHARES COM D1668R123 12,671 179 SOLE N/A 179 0
DESARROLLADORA HOMEX-ADR SP ADR 25030W100 15,642 574 SOLE N/A 574 0
DEUTSCHE BANK AG-REGISTERED COM D18190898 12,759 216 SOLE N/A 216 0
DEVON ENERGY CORPORATION COM 25179M103 2,478 27 SOLE N/A 18 9
DOW CHEMICAL CO/THE COM 260543103 12,246,780 324,418 SOLE N/A 321,343 3,075
DRYSHIPS INC SHS Y2109Q101 15,970,007 3,226,264 SOLE N/A 3,195,239 31,025
DU PONT (E.I.) DE NEMOURS COM 263534109 13,948,528 253,748 SOLE N/A 251,346 2,402
DUFF & PHELPS UTIL & CORP BD COM 26432K108 12,868,224 1,170,903 SOLE N/A 1,166,953 3,950
EATON VANCE MUNICIPAL BOND F COM 27827X101 4,674 410 SOLE N/A 410 0
EATON VANCE MUNICIPAL INCOME SH BEN INT 27826U108 2,982 254 SOLE N/A 254 0
EATON VANCE NATIONAL MUNICIP COM SHS 27829L105 1,040,336 55,842 SOLE N/A 55,842 0
EATON VANCE TAX-MANAGED DIVE COM 27828N102 5,605,028 509,548 SOLE N/A 507,757 1,791
FANUC LTD-UNSP ADR ADR 307305102 7,630 304 SOLE N/A 304 0
FMC TECHNOLOGIES INC COM 30249U101 5,928,242 125,492 SOLE N/A 124,460 1,032
FOMENTO ECONOMICO MEX-SP ADR SP ADR 344419106 10,075,620 171,646 SOLE N/A 171,646 0
FOSTER WHEELER AG COM H27178104 13,463,558 357,883 SOLE N/A 354,212 3,671
FOSTER WHEELER AG COM 001866678 1,142,783 30,377 SOLE N/A 30,377 0
FREEPORT-MCMORAN COPPER COM 35671D857 9,266,813 166,819 SOLE N/A 165,171 1,648
GAFISA SA-ADR SP ADR 362607301 32,389,478 2,522,545 SOLE N/A 2,473,082 49,463
GAZPROM OAO-SPON ADR SP ADR 368287207 13,545,690 837,705 SOLE N/A 836,999 706
GENERAL MARITIME CORP SHS Y2693R101 6,208,657 3,028,613 SOLE N/A 2,999,498 29,115
GERDAU SA -SPON ADR SP ADR 373737105 26,460,350 2,116,828 SOLE N/A 2,075,536 41,292
GOLD FIELDS LTD-SPONS ADR SP ADR 38059T106 10,266 588 SOLE N/A 588 0
GOLDMAN SACHS GROUP INC COM 38141G104 247,733 1,562 SOLE N/A 1,562 0
GREAT BASIN GOLD LTD COM 390124105 17,779,727 6,734,745 SOLE N/A 6,669,921 64,824
GRUPO TELEVISA SA-SPON ADR SP ADR 40049J206 39,788 1,622 SOLE N/A 1,622 0
HDFC BANK LTD-ADR ADR 40415F101 30,357,572 178,637 SOLE N/A 175,132 3,505
HELIOS STRATEGIC INCOME FUND COM 42328A203 1,967,131 370,458 SOLE N/A 368,688 1,770
HELIOS TOTAL RETURN FUND INC COM 42327V109 4,220,999 695,387 SOLE N/A 693,267 2,120
HENKEL AG & CO- SPONS ADR SP ADR 42550U109 12,863 245 SOLE N/A 245 0
HESS CORP COM 42809H107 14,563,838 170,917 SOLE N/A 169,267 1,650
HONDA MOTOR CO LTD-SPONS ADR AMERN SHS 438128308 8,777 234 SOLE N/A 234 0
HSBC HOLDINGS PLC-SPONS ADR SP ADR 404280406 17,249 333 SOLE N/A 333 0
HUANENG POWER INTL-SPONS ADR ADR 443304100 26,262 1,118 SOLE N/A 1,118 0
ICICI BANK LTD-SPON ADR ADR 45104G104 39,195,830 786,591 SOLE N/A 774,219 12,372
INFOSYS TECHNOLOGIES-SP ADR SP ADR 456788108 35,766,541 498,836 SOLE N/A 489,770 9,066
ING CLARION GL R/E INCOME FD COM 44982G104 6,092,296 742,058 SOLE N/A 739,561 2,497
ING PRIME RATE TRUST SH BEN INT 44977W106 1,361,796 226,212 SOLE N/A 225,003 1,209
INVESCO MUNICIPAL INC OPP II COM 46133A100 245,348 37,287 SOLE N/A 37,287 0
INVESCO QUALITY MUNI INV TR COM 46133H105 191,091 15,845 SOLE N/A 15,845 0
INVESCO VAN KAMPEN SENIOR IN COM 46131H107 9,880 1,926 SOLE N/A 1,926 0
IPATH MSCI INDIA INDEX ETN IPMS INDIA E 06739F291 11,093,143 152,525 SOLE N/A 152,525 0
ISHARES FTSE CHINA 25 INDEX FTSE CHINA25 464287184 383,307 8,535 SOLE N/A 8,535 0
ISHARES FTSE NAREIT MORTGAGE MRTG PLS CAP 464288539 10,479,134 690,325 SOLE N/A 689,191 1,134
ISHARES MSCI HONG KONG INDEX MSCI ISRAEL FD464286871 22,148 1,170 SOLE N/A 1,170 0
ISHARES MSCI ISRAEL CPD INVS MSCI HONG KO 464286632 3,485 59 SOLE N/A 59 0
ISHARES MSCI SINGAPORE MSCI SINGAPO 464286673 19,411 1,420 SOLE N/A 1,420 0
ISHARES MSCI SOUTH AFRICA IN MSCI STH AFR 464286780 184,367 2,528 SOLE N/A 2,528 0
ISHARES MSCI SOUTH KOREA IND MSCI S KOREA 464286772 206,950 3,216 SOLE N/A 3,216 0
ISHARES MSCI TAIWAN INDEX FD MSCI TAIWAN 464286731 39,653 2,668 SOLE N/A 2,668 0
ISHARES MSCI TURKEY INVSTBLE MSCI TURKEY 464286715 49,412 774 SOLE N/A 774 0
ISHARES S&P NA NAT RES S I F S&P NA NAT R 464287374 6,325 135 SOLE N/A 135 0
ITAU UNIBANCO HLDNG-PREF ADR SP ADR 465562106 79,924,403 3,323,260 SOLE N/A 3,260,293 62,967
ITAU UNIBANCO-PRF-ADS 144A SP ADR 465562114 589,225 24,500 SOLE N/A 24,500 0
JOY GLOBAL INC COM 481165108 13,915,017 140,826 SOLE N/A 139,489 1,337
K+S AG-SPONSORED ADR ADR 48265W108 6,207 163 SOLE N/A 163 0
KB FINANCIAL GROUP INC-ADR SP ADR 48241A105 47,032,194 901,518 SOLE N/A 884,129 17,389
KOMATSU LTD -SPONS ADR SP ADR 500458401 22,100 650 SOLE N/A 650 0
KOREA FUND INC COM 500634209 9,660 200 SOLE N/A 200 0
KUBOTA CORP-SPONS ADR ADR 501173207 17,666 375 SOLE N/A 375 0
LAS VEGAS SANDS CORP COM 517834107 32,905,044 779,371 SOLE N/A 764,179 15,192
LINDE AG-SPONSORED ADR SP ADR 535223200 12,185 763 SOLE N/A 763 0
LLOYDS BANKING GROUP PLC-ADR SP ADR 539439109 5,332 1,441 SOLE N/A 1,441 0
LUKOIL OAO-SPON ADR SP ADR 677862104 53,347,463 747,268 SOLE N/A 746,650 618
LYONDELLBASELL INDU-CL A COM N53745100 10,121,676 255,921 SOLE N/A 253,216 2,705
LYONDELLBASELL INDU-CL A COM 000943499 863,772 21,840 SOLE N/A 21,840 0
MAN SE-UNSPONSORED ADR ADR 561641101 13,458 1,081 SOLE N/A 1,081 0
MCDERMOTT INTL INC COM 580037109 15,543,504 612,190 SOLE N/A 606,370 5,820
MECHEL-SPONSORED ADR SP ADR 583840103 29,469,786 957,122 SOLE N/A 945,496 11,626
MELCO CROWN ENTERTAINME-ADR ADR 585464100 41,522,121 5,463,437 SOLE N/A 5,396,459 66,978
MFS GOVT MARKETS INC TRUST SH BEN INT 552939100 5,752,032 898,755 SOLE N/A 895,695 3,060
MITSUBISHI UFJ FINL GRP-ADR SP ADR 606822104 13,243 2,879 SOLE N/A 2,879 0
MIZUHO FINANCIAL GROUP-ADR SP ADR 60687Y109 12,596 3,794 SOLE N/A 3,794 0
MOBILE TELESYSTEMS-SP ADR SP ADR 607409109 64,784,237 3,051,542 SOLE N/A 3,007,382 44,160
MORGAN STANLEY INDIA INVEST COM 61745C105 40,840 1,696 SOLE N/A 1,696 0
MOSAIC CO/THE COM 61945A107 10,849,862 137,776 SOLE N/A 136,438 1,338
MTN GROUP LTD-SPONS ADR ADR 62474M108 17,976,097 885,522 SOLE N/A 884,660 862
NASPERS LTD-N SHS SPON ADR SP ADR 631512100 16,696,098 309,187 SOLE N/A 308,890 297
NATIONAL BANK OF GREECE-ADR ADR 633643408 130,803 73,900 SOLE N/A 73,900 0
NATIONAL OILWELL VARCO INC COM 637071101 14,181,482 178,901 SOLE N/A 177,171 1,730
NAVIOS MARITIME HOLDINGS INC COM Y62196103 5,760,630 1,010,637 SOLE N/A 1,010,389 248
NEUBERGER BERMAN REAL ESTATE COM 64190A103 7,663,343 1,855,531 SOLE N/A 1,849,078 6,453
NEWFIELD EXPLORATION CO COM 651290108 6,157 81 SOLE N/A 71 10
NIDEC CORPORATION-ADR ADR 654090109 19,640 908 SOLE N/A 908 0
NOBLE CORP COM H5833N103 17,632,632 386,511 SOLE N/A 382,520 3,991
NOBLE CORP COM 003334731 1,480,916 32,462 SOLE N/A 32,462 0
NOMURA HOLDINGS INC-ADR SP ADR 65535H208 10,150 1,952 SOLE N/A 1,952 0
NUVEEN CAL MUNI VALUE FUND COM 67062C107 4,946,599 584,014 SOLE N/A 584,014 0
NUVEEN CALIF QUALITY INC MUN COM 670985100 2,737 212 SOLE N/A 212 0
NUVEEN DVD ADV MUNI FD 2 COM 67070F100 360,128 27,588 SOLE N/A 27,588 0
NUVEEN INSD DVD ADV MUNI FD COM 67071L106 195,574 14,617 SOLE N/A 14,617 0
NUVEEN INSD PREM INC MUNI II COM 6706D8104 1,019,009 86,798 SOLE N/A 86,798 0
NUVEEN MORTGAGE OPPORTUNITY COM 670735109 17,857 718 SOLE N/A 718 0
NUVEEN MULTI-ST INC & GTH COM 67073B106 3,287,982 387,277 SOLE N/A 386,353 924
NUVEEN MULTI-ST INC & GTH 2 COM 67073D102 3,401,430 380,048 SOLE N/A 378,998 1,050
NUVEEN MUNI ADVANTAGE FUND COM 67062H106 4,866 370 SOLE N/A 370 0
NUVEEN MUNICIPAL VALUE FUND COM 670928100 3,718,749 411,366 SOLE N/A 411,366 0
NUVEEN NY INV QUAL MUNI FD COM 67062X101 1,141,383 86,534 SOLE N/A 86,534 0
NUVEEN QUALITY PREFERRED II COM 67072C105 2,419,789 292,245 SOLE N/A 291,050 1,195
OCCIDENTAL PETROLEUM CORP COM 674599105 15,005,668 143,609 SOLE N/A 142,211 1,398
PATRIOT COAL CORP COM 70336T104 11,995,581 464,405 SOLE N/A 459,913 4,492
PETROCHINA CO LTD -ADR SP ADR 71646E100 36,692 241 SOLE N/A 241 0
PETROLEO BRASILEIRO S.A.-ADR SP ADR 71654V408 48,210,107 1,192,434 SOLE N/A 1,176,051 16,383
PETROLEO BRASILEIRO-SPON ADR SP ADR 71654V101 51,061,029 1,436,720 SOLE N/A 1,418,140 18,580
PHILIPPINE LONG DIST -SP ADR SP ADR 718252604 21,079 394 SOLE N/A 394 0
PIMCO MUNICIPAL INCOME FD II COM 72200W106 14,504 1,436 SOLE N/A 1,436 0
PIMCO STRATEGIC GLBL GOVT COM 72200X104 9,963 900 SOLE N/A 900 0
PING AN INSURANCE-ADR ADR 72341E304 12,253,057 594,520 SOLE N/A 593,946 574
POSCO-ADR SP ADR 693483109 87,601,228 766,482 SOLE N/A 752,377 14,105
POTASH CORP OF SASKATCHEWAN COM 73755L107 16,238,625 275,558 SOLE N/A 272,882 2,676
POWERSHARES IN NATL MUN B PT INSUR NATL M 73936T474 4,713 212 SOLE N/A 212 0
PRIDE INTERNATIONAL INC COM 74153Q102 3,994 93 SOLE N/A 62 31
QUADRA FNX MINING LTD COM 74733X106 5,939,277 424,841 SOLE N/A 424,726 115
REPSOL YPF SA -SPONSORED ADR SP ADR 76026T205 6,935,267 201,314 SOLE N/A 199,300 2,014
RIO TINTO PLC-SPON ADR SP ADR 767204100 1,067 15 SOLE N/A 0 15
SANDVIK AB-SPONSORED ADR SP ADR 800212201 13,098 693 SOLE N/A 693 0
SASOL LTD-SPONSORED ADR SP ADR 803866300 92,894 1,603 SOLE N/A 1,603 0
SCHLUMBERGER LTD COM 806857108 35,983,905 385,845 SOLE N/A 382,143 3,702
SHINHAN FINANCIAL GROUP-ADR SP ADR 824596100 47,314,764 522,411 SOLE N/A 512,332 10,079
SIEMENS AG-SPONS ADR SP ADR 826197501 32,412 236 SOLE N/A 236 0
SILICONWARE PRECISION-SP ADR SP ADR 827084864 26,733 4,426 SOLE N/A 4,426 0
SILVER STANDARD RESOURCES COM 82823L106 24,850,889 791,934 SOLE N/A 776,356 15,578
SINOPEC SHANGHAI-SPONS ADR SP ADR 82935M109 14,121,473 296,545 SOLE N/A 290,765 5,780
SK TELECOM CO LTD-ADR SP ADR 78440P108 157,515 8,374 SOLE N/A 8,374 0
SOUTHERN COPPER CORP COM 84265V105 42,928 1,066 SOLE N/A 1,066 0
SOUTHWESTERN ENERGY CO COM 845467109 14,772,184 343,779 SOLE N/A 340,434 3,345
SPDR BARCLAYS CAPITAL HIGH ETF 78464A417 61,008 1,506 SOLE N/A 1,506 0
SPDR NUVEEN BARCLAYS CAPITAL NUVN BRCLY M 78464A458 4,904 223 SOLE N/A 223 0
STERLITE INDUSTRIES INDI-ADR ADR 859737207 14,020 908 SOLE N/A 908 0
SUMITOMO CHEMICAL CO-UNS ADR ADR 865612105 6,014 243 SOLE N/A 243 0
SUMITOMO MITSUI-SPONS ADR SP ADR 86562M209 1,638 262 SOLE N/A 262 0
SYNGENTA AG-ADR SP ADR 87160A100 3,444,039 52,847 SOLE N/A 52,314 533
TAIWAN SEMICONDUCTOR-SP ADR SP ADR 874039100 29,313,314 2,406,676 SOLE N/A 2,359,539 47,137
TATA MOTORS LTD-SPON ADR SP ADR 876568502 49,133 1,768 SOLE N/A 1,768 0
TECHNIP SA-ADR SP ADR 878546209 20,178 760 SOLE N/A 760 0
TECK RESOURCES LTD-CLS B COM 878742204 19,646,879 370,556 SOLE N/A 367,035 3,521
TENARIS SA-ADR SP ADR 88031M109 34,926,426 706,155 SOLE N/A 694,662 11,493
TEVA PHARMACEUTICAL-SP ADR SP ADR 881624209 22,893,775 456,324 SOLE N/A 447,299 9,025
TOTAL SA-SPON ADR SP ADR 89151E109 14,432,940 236,722 SOLE N/A 234,480 2,242
TOYOTA MOTOR CORP -SPON ADR SP ADR 892331307 30,736 383 SOLE N/A 383 0
TURKCELL ILETISIM HIZMET-ADR SP ADR 900111204 46,082 3,066 SOLE N/A 3,066 0
TURKIYE GARANTI BANKASI-ADR ADR 900148701 8,925,200 1,927,689 SOLE N/A 1,925,819 1,870
ULTRA PETROLEUM CORP COM 903914109 14,342,979 291,228 SOLE N/A 288,396 2,832
VALE SA-SP ADR SP ADR 91912E105 138,637,517 4,157,047 SOLE N/A 3,461,978 59,215
VANGUARD MSCI EMERGING MARKE MSCI EM MKT E 922042858 190,171 3,885 SOLE N/A 3,885 0
VIMPELCOM LTD-SPON ADR SP ADR 92719A106 53,515 3,790 SOLE N/A 3,790 0
VIVO PARTICIPACOES SA-ADR SP ADR 92855S200 26,881,895 665,723 SOLE N/A 658,270 7,453
WALTER ENERGY INC COM 93317Q105 12,832,128 94,751 SOLE N/A 93,830 921
WESTERN ASSET HIGH INCOME OP COM 95766K109 1,794 282 SOLE N/A 282 0
WESTERN ASSET MUNICIPAL HIGH COM 95766N103 2,121,456 293,424 SOLE N/A 293,424 0
WOORI FINANCE HOLDINGS-ADR ADR 981063100 14,850,244 376,146 SOLE N/A 368,553 7,593
WORLD FUEL SERVICES CORP COM 981475106 2,599 64 SOLE N/A 42 22
XSTRATA PLC-UNSPONS ADR ADR 98418K105 7,746,020 1,662,236 SOLE N/A 1,661,781 455
YANZHOU COAL MINING-SP ADR SP ADR 984846105 75,025,365 2,068,524 SOLE N/A 2,033,253 35,271