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
ARCOS DORADOS HOLDINGS INC SHS CLASS A G0457F107 84,472 7,004,314 SH   SOLE NONE 7,004,314 0 0
NEW ORIENTAL ED & TECH GRP I SPON ADR 647581107 31,766 1,431,570 SH   SOLE NONE 1,431,570 0 0
51JOB INC SP ADR REP COM 316827104 13,535 203,535 SH   SOLE NONE 203,535 0 0
COMPANHIA BRASILEIRA DE DIST SPON ADR PFE CL A 20440T201 66,393 1,488,300 SH   SOLE NONE 1,488,300 0 0
TAL ED GROUP ADS REPSTG COM 874080104 4,157 353,500 SH   SOLE NONE 353,500 0 0
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 91,260 1,260,670 SH   SOLE NONE 1,260,670 0 0
GUESS INC COM 401617105 7,478 222,040 SH   SOLE NONE 222,040 0 0
BAIDU INC SPON ADR REP A 056752108 97,602 737,680 SH   SOLE NONE 737,680 0 0
DOLLAR GENERAL CORP NEW COM 256677105 29,597 541,370 SH   SOLE NONE 541,370 0 0
YUM BRANDS INC COM 988498101 44,887 615,560 SH   SOLE NONE 615,560 0 0
OCH ZIFF CAP MGMT GROUP CL A 67551U105 5,987 529,810 SH   SOLE NONE 529,810 0 0
YANDEX N V SHS CLASS A N97284108 12,547 385,960 SH   SOLE NONE 385,960 0 0
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 26,852 1,190,766 SH   SOLE NONE 1,190,766 0 0
FORTRESS INVESTMENT GROUP LL CL A 34958B106 3,562 453,800 SH   SOLE NONE 453,800 0 0
COLGATE PALMOLIVE CO COM 194162103 45,706 763,420 SH   SOLE NONE 763,420 0 0
GANNETT INC COM 364730101 4,711 182,900 SH   SOLE NONE 182,900 0 0
MARKET VECTORS ETF GOLD MINER ETF 57060U100 5,325 197,310 SH   SOLE NONE 197,310 0 0
EMBOTELLADORA ANDINA SA SPON ADR A 29081P204 3,040 118,262 SH   SOLE NONE 118,262 0 0
DOLLAR TREE INC COM 256746108 7,799 145,370 SH   SOLE NONE 145,370 0 0
RALPH LAUREN CORP CL A 751212101 7,579 41,630 SH   SOLE NONE 41,630 0 0
ANGLOGOLD ASHANTI SPON ADR 035128206 1,733 131,610 SH   SOLE NONE 131,610 0 0
DIRECTV COM 25490A309 7,588 119,910 SH   SOLE NONE 119,910 0 0
TRONOX LTD SHS CLASS A Q9235V101 510 23,500 SH   SOLE NONE 23,500 0 0
PRICELINE COM INC COM NEW 741503403 8,188 9,350 SH   SOLE NONE 9,350 0 0
MCDONALDS CORP COM 580135101 15,385 156,860 SH   SOLE NONE 156,860 0 0
WALT DISNEY CO COM DISNEY 254687106 11,555 178,730 SH   SOLE NONE 178,730 0 0
WAL-MART STORES INC COM 931142103 24,812 318,350 SH   SOLE NONE 318,350 0 0
PROMOTORA DE INFORMACIONES S ADR CL A SHS 74343G204 23 25,262 SH   SOLE NONE 25,262 0 0
MASTERCARD INC CL A 57636Q104 5,966 9,770 SH   SOLE NONE 9,770 0 0
GOOGLE INC CL A 38259P508 21,466 24,180 SH   SOLE NONE 24,180 0 0
COCA COLA CO COM 191216100 11,900 296,905 SH   SOLE NONE 296,905 0 0
VISA INC COM CL A 92826C839 7,286 41,160 SH   SOLE NONE 41,160 0 0
APPLE INC COM 037833100 17,917 39,593 SH   SOLE NONE 39,593 0 0
AMAZON INC COM 023135106 4,922 16,340 SH   SOLE NONE 16,340 0 0
NIKE INC CL B 654106103 1,380 21,930 SH   SOLE NONE 21,930 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 1,159 10,000 SH   SOLE NONE 10,000 0 0
CVS CAREMARK CORPORATION COM 126650100 273 4,440 SH   SOLE NONE 4,440 0 0
BANCO SANTANDER BRASIL S A ADS REP 1 UNIT 05967A107 67 11,100 SH   SOLE NONE 11,100 0 0