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

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COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
ALTRIA GROUP INCCOM02209S10392,8341,851,600SH SOLENO986,3000865,300
APOLLO ED GROUP INCCL A03760410572,7902,655,220SH SOLENO1,391,62001,263,600
BOEING COCOM09702310550,217361,762SH SOLENO193,8380167,924
CARNIVAL CORPPAIRED CTF143658300103,3892,362,400SH SOLENO1,269,10001,093,300
CHEVRON CORP NEWCOM16676410089,329687,278SH SOLENO368,8750318,403
CITIGROUP INCCOM NEW172967424149,5602,654,504SH SOLENO1,519,00401,135,500
CSX CORPCOM126408103131,1003,767,251SH SOLENO2,103,78001,663,471
DISNEY WALT COCOM DISNEY25468710647,795492,400SH SOLENO263,4000229,000
E M C CORP MASSCOM268648102129,1394,049,659SH SOLENO2,193,05901,856,600
FIRST AMERN FINL CORPCOM31847R10293,4163,163,438SH SOLENO1,692,00301,471,435
JOHNSON & JOHNSONCOM47816010499,155853,150SH SOLENO448,4500404,700
LILLY ELI & COCOM53245710894,6941,338,392SH SOLENO705,9940632,398
LORILLARD INCCOM54414710132,116491,400SH SOLENO259,2000232,200
MATTEL INCCOM57708110266,3381,986,025SH SOLENO1,064,6250921,400
MICROSOFT CORPCOM594918104157,4573,117,733SH SOLENO1,700,23301,417,500
NATIONAL OILWELL VARCO INCCOM63707110190,9571,097,075SH SOLENO596,6750500,400
ORACLE CORPCOM68389X105127,7293,074,189SH SOLENO1,716,58901,357,600
PROGRESSIVE CORP OHIOCOM74331510385,3053,096,446SH SOLENO1,647,50001,448,946
SYNNEX CORPCOM87162W10074,3781,056,109SH SOLENO564,9110491,198
UNITEDHEALTH GROUP INCCOM91324P102100,7311,077,540SH SOLENO608,0400469,500
U S G CORPCOM NEW90329340564,3502,148,700SH SOLENO1,155,2000993,500
WELLS FARGO & CO NEWCOM94974610193,8211,660,045SH SOLENO887,7450772,300
AVIVA PLCADR05382A10416,352965,314SH SOLENO965,31400
AXASPONSORED ADR0545361079,827399,135SH SOLENO399,13500
BARCLAYS PLCADR06738E20421,1621,428,927SH SOLENO1,428,92700
BRITISH AMERN TOB PLCSPONSORED ADR11044810726,400233,467SH SOLENO233,46700
CARNIVAL PLCADR14365C10312,773319,728SH SOLENO319,72800
CNOOC LTDSPONSORED ADR1261321099,08352,644SH SOLENO52,64400
CLARIANT AGNOT 13F18047P1018,852514,341SH SOLENO514,34100
CREDIT SUISSE GROUPSPONSORED ADR22540110810,851392,600SH SOLENO392,60000
HSBC HOLDINGS PLCSPON ADR NEW40428040620,6601,243,453SH SOLENO1,243,45300
IMPERIAL OIL LTDCOM NEW4530384088,873187,913SH SOLENO187,91300
KOMATSU LTDNOT 13F50045840111,919514,629SH SOLENO514,62900
LLOYDS BANKING GROUP PLCSPONSORED ADR53943910920,6634,099,715SH SOLENO4,099,71500
NOVARTIS A GSPONSORED ADR66987V10931,456334,171SH SOLENO334,17100
REED ELSEVIER N VSPONS ADR NEW75820420031,056687,222SH SOLENO687,22200
RIO TINTO PLCSPONSORED ADR76720410011,569235,245SH SOLENO235,24500
RYANAIR HLDGS PLCSPONSORED ADR783513104123,2562,184,232SH SOLENO1,709,2670474,965
SANOFISPONSORED ADR80105N10533,515593,929SH SOLENO593,92900
SAP AGSPON ADR80305420411,756162,919SH SOLENO162,91900
SIEMENS A GSPONSORED ADR82619750113,565113,922SH SOLENO113,92200
SUMITOMO MITSUI FINL GROUP ISPONSORED ADR86562M20915,2181,855,904SH SOLENO1,855,90400
TOTAL S ASPONSORED ADR89151E10914,628226,966SH SOLENO226,96600
TOYOTA MOTOR CORPSP ADR REP2COM89233130717,670150,343SH SOLENO150,34300
UBS AGSHS NEWH8923133824,4811,409,400SH SOLENO1,409,40000
VODAFONE GROUP PLC NEWSPON ADR NEW92857W20913,218401,886SH SOLENO401,88600
ADVANCED SEMICONDUCTOR ENGRSPONSORED ADR00756M40436060,996SH SOLENO0060,996
AMERICA MOVIL SAB DE CVSPON ADR L SHS02364W10511,015437,100SH SOLENO437,0000100
AU OPTRONICS CORPSPONSORED ADR00225510740497,112SH SOLENO0097,112
BRF SASPONSORED ADR10552T1071,39958,800SH SOLENO24,000034,800
CHINA MOBILE LIMITEDSPONSORED ADR16941M10932,016544,950SH SOLENO513,750031,200
CHINA PETE & CHEM CORPSPON ADR H SHS16941R1084,77154,610SH SOLENO20,810033,800
CHINA YUCHAI INTL LTDCOMG210821052,840153,200SH SOLENO104,700048,500
CHUNGHWA TELECOM CO LTDSPON ADR NEW1117133Q5022438,123SH SOLENO008,123
DR REDDYS LABS LTDADR2561352038,818167,800SH SOLENO27,6000140,200
GRUPO TELEVISA SASPON ADR REP ORD40049J20682724,407SH SOLENO0024,407
HDFC BANK LTDADR REPS 3 SHS40415F1014579,816SH SOLENO009,816
ICICI BK LTDADR45104G10415,064306,800SH SOLENO7,2000299,600
INFOSYS LTDSPONSORED ADR4567881081392,300SH SOLENO2,30000
ISHARESMSCI EMG MKT ETF4642872344,711113,362SH SOLENO113,36200
KT CORPSPONSORED ADR48268K1011,22975,800SH SOLENO0075,800
PETROCHINA CO LTDSPONSORED ADR71646E1001,73613,507SH SOLENO6,20007,307
PETROLEO BRASILEIRO SA PETROSP ADR NON VTG71654V10112,932868,500SH SOLENO719,3000149,200
SESA GOA LTDSPONSORED ADR78413F10339322,775SH SOLENO0022,775
SILICONWARE PRECISION INDS LSPONSD ADR SPL82708486442762,669SH SOLENO0062,669
SK TELECOM LTDSPONSORED ADR78440P10874,6482,460,383SH SOLENO2,340,1090120,274
TAIWAN SEMICONDUCTOR MFG LTDSPONSORED ADR87403910033,6771,668,833SH SOLENO1,358,1000310,733
TATA MTRS LTDSPONSORED ADR87656850222,939524,803SH SOLENO191,9000332,903
UNITED MICROELECTRONICS CORPSPON ADR NEW910873405239120,249SH SOLENO00120,249
VALE S AADR REPSTG PFD91912E2046,476666,940SH SOLENO570,200096,740
VANGUARD INTL EQUITY INDEX FMSCI EMR MKT ETF92204285819,122458,456SH SOLENO458,45600
WIPRO LTDSPON ADR 1 SH97651M1091199,800SH SOLENO009,800
WISDOMTREE TRUSTINDIA ERNGS FD97717W42254,2912,477,900SH SOLENO496,10001,981,800
WUXI PHARMATECH CAYMAN INCSPONS ADR SHS9293521026,328180,700SH SOLENO145,700035,000