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 Company COM 88579Y101 252 1,411 SH   SOLE   1,411 0 0
Alphabet Inc. Class A COM 02079K305 245 309 SH   SOLE   309 0 0
Alphabet Inc. Class C COM 02079K107 536 695 SH   SOLE   695 0 0
Amazon.com COM 023135106 281 375 SH   SOLE   375 0 0
Apple Inc. COM 037833100 531 4,583 SH   SOLE   4,583 0 0
Automatic Data Processing COM 053015103 261 2,541 SH   SOLE   2,541 0 0
Celgene Corp COM 151020104 245 2,119 SH   SOLE   2,119 0 0
Delta Air Lines Inc. COM 247361702 266 5,398 SH   SOLE   5,398 0 0
EOG Resources Inc. COM 26875P101 539 5,333 SH   SOLE   5,333 0 0
General Electric COM 369604103 620 19,626 SH   SOLE   19,626 0 0
HCA Holdings Inc. COM 40412C101 262 3,540 SH   SOLE   3,540 0 0
Halliburton COM 406216101 290 5,355 SH   SOLE   5,355 0 0
J.P. Morgan COM 46625H100 577 6,690 SH   SOLE   6,690 0 0
Lockheed Martin Corp COM 539830109 301 1,205 SH   SOLE   1,205 0 0
Marsh & McLennan Cos COM 571748102 259 3,830 SH   SOLE   3,830 0 0
Mastercard Inc. - Class A COM 57636Q104 335 3,246 SH   SOLE   3,246 0 0
Nvidia Corp COM 67066G104 560 5,250 SH   SOLE   5,250 0 0
Pfizer COM 717081103 229 7,040 SH   SOLE   7,040 0 0
Pioneer Natural Resources CO COM 723787107 294 1,630 SH   SOLE   1,630 0 0
Stryker Corp COM 863667101 247 2,065 SH   SOLE   2,065 0 0
T-Mobile COM 872590104 761 13,233 SH   SOLE   13,233 0 0
TJX Companies Inc COM 872540109 256 3,405 SH   SOLE   3,405 0 0
US Silica Holdings Inc. COM 90346E103 578 10,190 SH   SOLE   10,190 0 0
Ulta Salon Cosmetics & Fragr. COM 90384S303 333 1,305 SH   SOLE   1,305 0 0
Vail Resorts Inc COM 91879Q109 682 4,229 SH   SOLE   4,229 0 0
Visa Inc COM 92826C839 544 6,974 SH   SOLE   6,974 0 0
Vulcan Materials COM 929160109 288 2,305 SH   SOLE   2,305 0 0
Banco Santander Brasil - ADS ADR 05967A107 240 27,005 SH   SOLE   27,005 0 0
Cosan Limited ADR G25343107 225 30,000 SH   SOLE   30,000 0 0
Telefonica Brasil-ADR ADR 87936R106 150 11,227 SH   SOLE   11,227 0 0
Ultrapar ADR 90400P101 219 10,582 SH   SOLE   10,582 0 0
Vale SA-SP ADR ADR 91912E105 211 27,701 SH   SOLE   27,701 0 0
Alibaba ADR 01609W102 219 2,490 SH   SOLE   2,490 0 0
CTRIP.COM International - ADR ADR 22943F100 218 5,440 SH   SOLE   5,440 0 0
China Construct - USPON ADR ADR 168919108 249 16,433 SH   SOLE   16,433 0 0
China Lodging Group ADR 16949N109 340 6,561 SH   SOLE   6,561 0 0
Netease Inc - ADR ADR 64110W102 1,302 6,044 SH   SOLE   6,009 0 35
Ping An Insurance-ADR ADR 72341E304 598 60,090 SH   SOLE   60,090 0 0
TAL Education Group ADR 874080104 254 3,624 SH   SOLE   3,624 0 0
Tencent Holdings LTD ADR 88032Q109 465 19,182 SH   SOLE   19,182 0 0
Infineon Technologies - ADR ADR 45662N103 1,713 99,150 SH   SOLE   98,325 0 825
SAP AG ADR 803054204 4,038 46,720 SH   SOLE   46,400 0 320
Siemens AG ADR 826197501 3,824 31,236 SH   SOLE   31,006 0 230
AIA Group LTD-SP ADR ADR 001317205 2,481 110,400 SH   SOLE   109,495 0 905
Melco Crown Entertainment ADR ADR 585464100 238 14,990 SH   SOLE   14,990 0 0
Accenture PLC ADR G1151C101 4,733 40,404 SH   SOLE   40,129 0 275
CRH PLC-Sponsored ADR ADR 12626K203 4,068 118,320 SH   SOLE   117,535 0 785
Icon PLC ADR G4705A100 3,321 44,165 SH   SOLE   43,835 0 330
RyanAir Holdings PLC ADR 783513203 2,981 35,805 SH   SOLE   35,564 0 241
Honda Motor Company ADR 438128308 3,104 106,330 SH   SOLE   105,515 0 815
IShares Inc. MSCI Japan ADR 46434G822 350 7,168 SH   SOLE   7,168 0 0
Mitsubishi UFJ Financial ADR 606822104 3,537 574,210 SH   SOLE   570,380 0 3,830
Nippon Telegraph & Telephone A ADR 654624105 2,670 63,460 SH   SOLE   62,880 0 580
Orix Corporation ADR 686330101 3,249 41,745 SH   SOLE   41,425 0 320
Softbank Corp. ADR 83404D109 3,067 92,860 SH   SOLE   92,160 0 700
Sony Corp. ADR 835699307 2,342 83,550 SH   SOLE   82,825 0 725
Sumitomo Mitsui Financial Grou ADR 86562M209 1,872 245,090 SH   SOLE   243,620 0 1,470
Wisdomtree Japan Hedged Equity ADR 97717W851 5,994 120,990 SH   SOLE   120,220 0 770
America Movil SA de C.V. ADR 02364W105 223 17,710 SH   SOLE   17,710 0 0
Cemex ADR 151290889 1,806 224,848 SH   SOLE   223,643 0 1,205
ING Groep N.V. ADR 456837103 4,054 287,543 SH   SOLE   285,503 0 2,040
Koninklijke Ahold Delhaize NV ADR 500467501 3,291 156,772 SH   SOLE   155,592 0 1,180
NXP Semiconductors ADR N6596X109 4,470 45,603 SH   SOLE   45,293 0 310
Royal Dutch Shell PLC - A Shar ADR 780259206 3,227 59,340 SH   SOLE   58,890 0 450
Yandex ADR N97284108 269 13,364 SH   SOLE   13,364 0 0
Broadcom LTD ADR Y09827109 2,976 16,835 SH   SOLE   16,730 0 105
Flex LTD ADR Y2573F102 3,874 269,620 SH   SOLE   267,815 0 1,805
KB Financial Group Inc. ADR ADR 48241A105 320 9,058 SH   SOLE   9,058 0 0
LG Display CO LTD-ADR ADR 50186V102 220 17,130 SH   SOLE   17,130 0 0
Posco ADR ADR 693483109 253 4,817 SH   SOLE   4,817 0 0
Chubb Corp ADR H1467J104 3,100 23,465 SH   SOLE   23,275 0 190
Nestle SA ADR 641069406 265 3,697 SH   SOLE   3,697 0 0
Roche Holdings ADR 771195104 374 13,125 SH   SOLE   13,125 0 0
BP PLC-Spon ADR ADR 055622104 3,689 98,689 SH   SOLE   97,939 0 750
Delphi Automotive PLC ADR G27823106 3,047 45,235 SH   SOLE   44,895 0 340
Diageo PLC ADR 25243Q205 2,557 24,600 SH   SOLE   24,395 0 205
Rio Tinto LTD ADR 767204100 3,878 100,845 SH   SOLE   100,125 0 720
Shire PLC-ADR ADR 82481R106 1,265 7,427 SH   SOLE   7,365 0 62
Smith & Nephew PLC-SPON ADR ADR 83175M205 1,197 39,785 SH   SOLE   39,450 0 335
Ternium SA-Sponsored ADR ADR 880890108 219 9,070 SH   SOLE   9,070 0 0
Naspers LTD-N SHS SPON ADR ADR 631512100 245 16,737 SH   SOLE   16,737 0 0