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
KT CORP SPONSORED ADR 48268K101 341,346 25,814,464 SH   DFND 1,2 25,814,464 0 0
SK TELECOM LTD SPONSORED ADR 78440P108 341,346 16,332,335 SH   DFND 1,2 16,332,335 0 0
VALE S A ADR 91912E105 618,031 81,106,452 SH   DFND 1,2 81,106,452 0 0
KOREA ELECTRIC PWR SPONSORED ADR 500631106 452,790 24,501,599 SH   DFND 1,2 24,501,599 0 0