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
AES CORP COM 00130H105 53,132 3,747,193 SH   SOLE   2,233,720 0 1,513,473
AGILENT TECHNOLOGIES INC COM 00846U101 52,837 927,283 SH   SOLE   219,705 502,578 205,000
ALTERA CORP COM 021441100 21,697 606,391 SH   SOLE   276,391 0 330,000
AMBEV SA SPONSORED ADR 02319V103 108,772 16,606,433 SH   SOLE   9,430,726 2,593,870 4,581,837
AMERICAN INTL GROUP INC COM NEW 026874784 52,154 965,438 SH   SOLE   671,238 0 294,200
AMGEN INC COM 031162100 69,373 493,901 SH   SOLE   294,435 0 199,466
ANADARKO PETE CORP COM 032511107 46,529 458,680 SH   SOLE   274,807 0 183,873
APACHE CORP COM 037411105 67,870 723,020 SH   SOLE   489,657 0 233,363
APPLE INC COM 037833100 110,272 1,094,517 SH   SOLE   720,417 0 374,100
ARCH CAP GROUP LTD ORD G0450A105 23,288 425,597 SH   SOLE   193,097 0 232,500
ARCHER DANIELS MIDLAND CO COM 039483102 18,144 355,053 SH   SOLE   161,542 0 193,511
BAIDU INC SPON ADR REP A 056752108 152,615 699,334 SH   SOLE   283,780 230,812 184,742
BANCO BRADESCO S A SP ADR PFD NEW 059460303 131,347 9,217,354 SH   SOLE   4,764,540 1,172,658 3,280,156
BANCO DE CHILE SPONSORED ADR 059520106 25,746 348,081 SH   SOLE   204,135 0 143,946
BANCOLOMBIA S A SPON ADR PREF 05968L102 59,500 1,049,009 SH   SOLE   612,536 0 436,473
BARCLAYS BK PLC IPMS INDIA ETN 06739F291 1,610 22,936 SH   SOLE   22,936 0 0
BAXTER INTL INC COM 071813109 55,783 777,267 SH   SOLE   575,667 0 201,600
BROADCOM CORP CL A 111320107 85,107 2,105,578 SH   SOLE   1,236,383 0 869,195
CABOT OIL & GAS CORP COM 127097103 41,256 1,261,999 SH   SOLE   758,999 0 503,000
CHECK POINT SOFTWARE TECH LT ORD M22465104 70,075 1,012,068 SH   SOLE   727,367 0 284,701
CISCO SYS INC COM 17275R102 48,175 1,913,982 SH   SOLE   156,942 1,757,040 0
CITIGROUP INC COM NEW 172967424 117,056 2,258,902 SH   SOLE   201,473 2,057,429 0
CNOOC LTD SPONSORED ADR 126132109 50,560 293,047 SH   SOLE   235,707 0 57,340
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 65,322 1,459,068 SH   SOLE   1,077,268 0 381,800
COMPANHIA BRASILEIRA DE DIST SPN ADR PFD CL A 20440T201 44,820 1,027,755 SH   SOLE   603,089 0 424,666
COPA HOLDINGS SA CL A P31076105 101,927 949,998 SH   SOLE   399,219 289,924 260,855
CRITEO S A SPONS ADS 226718104 865 25,701 SH   SOLE   25,701 0 0
CUMMINS INC COM 231021106 59,523 450,995 SH   SOLE   229,828 65,037 156,130
DANAHER CORP DEL COM 235851102 23,764 312,764 SH   SOLE   142,269 0 170,495
DR REDDYS LABS LTD ADR 256135203 13,426 255,506 SH   SOLE   223,345 0 32,161
E M C CORP MASS COM 268648102 83,460 2,852,349 SH   SOLE   1,923,203 0 929,146
EBAY INC COM 278642103 22,757 401,850 SH   SOLE   401,850 0 0
EMBRAER S A SP ADR REP 4 COM 29082A107 110,595 2,819,872 SH   SOLE   1,271,133 741,699 807,040
EXPRESS SCRIPTS HLDG CO COM 30219G108 84,268 1,193,087 SH   SOLE   810,274 0 382,813
EXXON MOBIL CORP COM 30231G102 8,753 93,066 SH   SOLE   8,537 84,529 0
GAP INC DEL COM 364760108 47,574 1,141,143 SH   SOLE   714,343 0 426,800
GOOGLE INC CL A 38259P508 146,006 248,133 SH   SOLE   137,469 45,623 65,041
GOOGLE INC CL C 38259P706 78,051 135,186 SH   SOLE   85,596 12,383 37,207
HDFC BANK LTD ADR REPS 3 SHS 40415F101 1,409 30,241 SH   SOLE   30,241 0 0
HOME DEPOT INC COM 437076102 57,144 622,884 SH   SOLE   371,784 0 251,100
HYATT HOTELS CORP COM CL A 448579102 10,590 175,000 SH   SOLE   107,315 0 67,685
ICICI BK LTD ADR 45104G104 58,923 1,200,076 SH   SOLE   749,087 0 450,989
INFOSYS LTD SPONSORED ADR 456788108 73,353 1,212,657 SH   SOLE   698,135 0 514,522
INTERNATIONAL BUSINESS MACHS COM 459200101 26,746 140,886 SH   SOLE   65,386 0 75,500
ISHARES MSCI TAIWAN ETF 464286731 1,626 106,515 SH   SOLE   106,515 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 92,547 6,667,863 SH   SOLE   3,165,226 1,356,259 2,146,378
JPMORGAN CHASE & CO COM 46625H100 133,481 2,215,815 SH   SOLE   1,308,979 0 906,836
JUNIPER NETWORKS INC COM 48203R104 50,378 2,274,501 SH   SOLE   1,340,201 0 934,300
LAUDER ESTEE COS INC CL A 518439104 28,089 375,929 SH   SOLE   34,794 341,135 0
MARVELL TECHNOLOGY GROUP LTD ORD G5876H105 29,092 2,158,174 SH   SOLE   430,274 1,378,195 349,705
MASTERCARD INC CL A 57636Q104 98,706 1,335,250 SH   SOLE   591,483 500,725 243,042
MCDONALDS CORP COM 580135101 14,074 148,450 SH   SOLE   12,769 135,681 0
MERCADOLIBRE INC COM 58733R102 20,724 190,741 SH   SOLE   70,490 75,705 44,546
MICROSOFT CORP COM 594918104 146,824 3,167,033 SH   SOLE   1,280,656 1,036,979 849,398
MOBILE TELESYSTEMS OJSC SPONSORED ADR 607409109 30,427 2,036,614 SH   SOLE   646,349 1,005,833 384,432
NETEASE INC SPONSORED ADR 64110W102 85,284 995,624 SH   SOLE   583,439 0 412,185
NIKE INC CL B 654106103 9,396 105,332 SH   SOLE   8,932 96,400 0
NOBLE ENERGY INC COM 655044105 12,358 180,781 SH   SOLE   82,318 0 98,463
NORDSTROM INC COM 655664100 22,562 330,010 SH   SOLE   150,110 0 179,900
OCCIDENTAL PETE CORP DEL COM 674599105 30,124 313,293 SH   SOLE   142,144 0 171,149
PETSMART INC COM 716768106 20,861 297,630 SH   SOLE   136,281 0 161,349
PHILIP MORRIS INTL INC COM 718172109 75,937 910,406 SH   SOLE   449,426 0 460,980
PRICE T ROWE GROUP INC COM 74144T108 93,789 1,196,282 SH   SOLE   837,982 0 358,300
PRICELINE GRP INC COM NEW 741503403 86,415 74,587 SH   SOLE   38,036 22,101 14,450
RALPH LAUREN CORP CL A 751212101 123,426 749,264 SH   SOLE   350,831 257,987 140,446
ROCK-TENN CO CL A 772739207 19,313 405,906 SH   SOLE   185,506 0 220,400
RYANAIR HLDGS PLC SPONSORED ADR 783513104 78,293 1,387,427 SH   SOLE   1,019,281 0 368,146
SCHLUMBERGER LTD COM 806857108 107,292 1,055,080 SH   SOLE   443,300 457,057 154,723
SHERWIN WILLIAMS CO COM 824348106 17,750 81,055 SH   SOLE   36,901 0 44,154
STATE STR CORP COM 857477103 8,613 117,006 SH   SOLE   0 0 117,006
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 181,476 8,993,408 SH   SOLE   4,335,865 2,413,735 2,243,808
TATA MTRS LTD SPONSORED ADR 876568502 105,260 2,408,163 SH   SOLE   1,049,355 550,740 808,068
UNION PAC CORP COM 907818108 41,658 384,224 SH   SOLE   289,324 0 94,900
UNITED CONTL HLDGS INC COM 910047109 45,540 973,276 SH   SOLE   582,723 0 390,553
UNITED PARCEL SERVICE INC CL B 911312106 20,097 204,468 SH   SOLE   93,166 0 111,302
URBAN OUTFITTERS INC COM 917047102 75,131 2,047,212 SH   SOLE   1,426,612 0 620,600
VERIZON COMMUNICATIONS INC COM 92343V104 25,907 518,245 SH   SOLE   235,945 0 282,300
VIACOM INC NEW CL B 92553P201 20,800 270,340 SH   SOLE   122,953 0 147,387
WELLS FARGO & CO NEW COM 949746101 48,028 925,934 SH   SOLE   741,134 0 184,800
WESTERN UN CO COM 959802109 23,773 1,481,975 SH   SOLE   661,221 0 820,754
WHOLE FOODS MKT INC COM 966837106 20,911 548,711 SH   SOLE   249,911 0 298,800
YUM BRANDS INC COM 988498101 77,877 1,081,921 SH   SOLE   95,317 986,604 0
ZOETIS INC CL A 98978V103 21,509 582,124 SH   SOLE   264,327 0 317,797