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
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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
BARRICK GOLD CORP STK 067901108 59,065 3,224,100 SH   SOLE NONE 0 0 3,224,100
BARRICK GOLD CORP STK 067901108 155,515 8,488,854 SH   SOLE NONE 8,488,854 0 0
BED BATH & BEYOND INC STK 075896100 52 900 SH   SOLE NONE 900 0 0
BLACKBERRY LTD STK 09228F103 544 53,000 SH   SOLE NONE 53,000 0 0
CATERPILLAR INC STK 149123101 54 500 SH   SOLE NONE 500 0 0
CHESAPEAKE ENERGY CORP STK 165167107 53 1,700 SH   SOLE NONE 1,700 0 0
CIA DE MINAS BUENAVENTURA SAA ADR 204448104 11,013 932,500 SH   SOLE NONE 0 0 932,500
CIA DE MINAS BUENAVENTURA SAA ADR 204448104 47,343 4,008,700 SH   SOLE NONE 4,008,700 0 0
CITIGROUP INC STK 172967424 77,249 1,640,100 SH   SOLE NONE 0 0 1,640,100
CITIGROUP INC STK 172967424 214,262 4,549,084 SH   SOLE NONE 4,549,084 0 0
EMBRAER SA ADR 29082A107 13,359 366,712 SH   SOLE NONE 0 0 366,712
EMBRAER SA ADR 29082A107 57,573 1,580,368 SH   SOLE NONE 1,580,368 0 0
GAZPROM OAO ADR 368287207 560 64,200 SH   SOLE NONE 64,200 0 0
GENERAL MOTORS CO STK 37045V100 76,132 2,097,300 SH   SOLE NONE 0 0 2,097,300
GENERAL MOTORS CO STK 37045V100 214,969 5,922,000 SH   SOLE NONE 5,922,000 0 0
GUESS? INC STK 401617105 246 9,124 SH   SOLE NONE 9,124 0 0
HALLADOR ENERGY CO STK 40609P105 703 74,100 SH   SOLE NONE 74,100 0 0
HEWLETT-PACKARD CO STK 428236103 70,799 2,102,100 SH   SOLE NONE 0 0 2,102,100
HEWLETT-PACKARD CO STK 428236103 197,802 5,872,980 SH   SOLE NONE 5,872,980 0 0
INFOSYS LTD ADR 456788108 10,066 187,200 SH   SOLE NONE 0 0 187,200
INFOSYS LTD ADR 456788108 44,549 828,510 SH   SOLE NONE 828,510 0 0
JOHNSON & JOHNSON STK 478160104 1,904 18,203 SH   SOLE NONE 18,203 0 0
LEXMARK INTERNATIONAL INC STK 529771107 284 5,900 SH   SOLE NONE 5,900 0 0
LUKOIL OAO ADR 677862104 84,736 1,419,121 SH   SOLE NONE 0 0 1,419,121
LUKOIL OAO ADR 677862104 260,465 4,362,164 SH   SOLE NONE 4,362,164 0 0
MICROSOFT CORP STK 594918104 73,821 1,770,278 SH   SOLE NONE 0 0 1,770,278
MICROSOFT CORP STK 594918104 197,731 4,741,760 SH   SOLE NONE 4,741,760 0 0
NEWFIELD EXPLORATION CO STK 651290108 754 17,050 SH   SOLE NONE 17,050 0 0
PETROLEO BRASILEIRO SA ADR 71654V101 11,778 753,058 SH   SOLE NONE 0 0 753,058
PETROLEO BRASILEIRO SA ADR 71654V101 50,634 3,237,488 SH   SOLE NONE 3,237,488 0 0
PFIZER INC STK 717081103 2,026 68,250 SH   SOLE NONE 68,250 0 0
SK TELECOM CO LTD ADR 78440P108 13,263 511,283 SH   SOLE NONE 0 0 511,283
SK TELECOM CO LTD ADR 78440P108 56,704 2,185,964 SH   SOLE NONE 2,185,964 0 0
STAPLES INC STK 855030102 50,123 4,623,900 SH   SOLE NONE 0 0 4,623,900
STAPLES INC STK 855030102 139,910 12,906,800 SH   SOLE NONE 12,906,800 0 0
TELEKOMUNIKASI INDONESIA PERSERO TBK PT ADR 715684106 10,250 246,037 SH   SOLE NONE 0 0 246,037
TELEKOMUNIKASI INDONESIA PERSERO TBK PT ADR 715684106 44,502 1,068,216 SH   SOLE NONE 1,068,216 0 0
TERNIUM SA ADR 880890108 9,913 354,932 SH   SOLE NONE 0 0 354,932
TERNIUM SA ADR 880890108 43,080 1,542,440 SH   SOLE NONE 1,542,440 0 0
TEVA PHARMACEUTICAL INDUSTRIES LTD ADR 881624209 42 800 SH   SOLE NONE 800 0 0
TURKCELL ILETISIM HIZMETLERI AS ADR 900111204 11,556 740,784 SH   SOLE NONE 0 0 740,784
TURKCELL ILETISIM HIZMETLERI AS ADR 900111204 49,549 3,176,188 SH   SOLE NONE 3,176,188 0 0
WESTERN UNION CO/THE STK 959802109 49 2,800 SH   SOLE NONE 2,800 0 0