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
AMERISOURCEBERGEN CORP COM 03073E105 1,314 23,546 SH   SOLE   23,546 0 0
DR PEPPER SNAPPLE GROUP INC COM 26138E109 1,475 32,120 SH   SOLE   32,120 0 0
DUN & BRADSTREET CORP DEL NE COM 26483E100 429 4,400 SH   SOLE   4,400 0 0
EDWARDS LIFESCIENCES CORP COM 28176E108 840 12,500 SH   SOLE   12,500 0 0
GRUPO AEROPORTUARIO DEL SURE SPON ADR SER B 40051E202 701,617 6,312,496 SH   SOLE   6,312,496 0 0
NEWS CORP CLASS A USD0.01 EQUITY 90130A101 7,295 223,889 SH   SOLE   223,889 0 0
NEWS CORP-B USD0.01 EQUITY 90130A200 89 2,700 SH   SOLE   2,700 0 0
NOVOLIPETSK STEEL GDR EACH REP EQUITY 67011E204 3,392 258,374 SH   SOLE   258,374 0 0
PETROCHINA CO LTD SPONSORED ADR 71646E100 1,815 16,400 SH   SOLE   16,400 0 0
QUANTA SVCS INC COM 74762E102 524 19,800 SH   SOLE   19,800 0 0
TARGET CORP COM 87612E106 57,115 829,672 SH   SOLE   829,672 0 0
TOTAL S A SPONSORED ADR 89151E109 258 5,300 SH   SOLE   5,300 0 0
TRAVELERS COMPANIES INC COM 89417E109 3,561 44,561 SH   SOLE   44,561 0 0
ULTRATECH CEMENT REG S GDR NPV EQUITY 90403E202 25,041 794,687 SH   SOLE   794,687 0 0
URALKALIY 1 GDR REP 5 ORD RUB0 EQUITY 91688E206 7,166 216,500 SH   SOLE   216,500 0 0
VALE S A ADR 91912E105 1,365,576 103,816,957 SH   SOLE   10,381,695 0 0
VALE S A ADR REPSTG PFD 91912E204 1,150,284 94,691,536 SH   SOLE   94,691,536 0 0
VERISIGN INC COM 92343E102 670 15,010 SH   SOLE   15,010 0 0
X5 RETAIL GRP 1 GDR REP 0.25 S EQUITY 98387E205 5,523 305,145 SH   SOLE   305,145 0 0