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 SHS CL A G0457F107 87,628 14,653,547 SH   SOLE NONE 14,653,547 0 0
SOHU COM INC COM 83408W103 134,429 2,676,265 SH   SOLE NONE 2,676,265 0 0
PHOENIX NEW MEDIA LTD-ADR SPON ADS 71910C103 24,322 2,601,265 SH   SOLE NONE 2,601,265 0 0
FORTRESS INVESTMENT GRP CL A 34958B106 44,159 6,418,422 SH   SOLE NONE 6,418,422 0 0
SOUFUN HOLDINGS LTD ADR 836034108 55,432 5,571,084 SH   SOLE NONE 5,571,084 0 0
TATA MOTORS LTD SPON ADR 876568502 329,200 7,531,467 SH   SOLE NONE 7,531,467 0 0
NEW ORIENTAL EDUCA SPON ADR 647581107 41,808 1,802,054 SH   SOLE NONE 1,802,054 0 0
NETEASE COM INC SPON ADR 64110W102 125,716 1,467,620 SH   SOLE NONE 1,467,620 0 0
COMPANHIA BRASILEIRA DE DIST SPN ADR PFD CL A 20440T201 90,805 2,082,211 SH   SOLE NONE 2,082,211 0 0
CREDICORP LTD COM G2519Y108 85,021 554,277 SH   SOLE NONE 554,277 0 0
COGNIZANT TEC SOLUTIONS-A CL A 192446102 162,805 3,636,467 SH   SOLE NONE 3,636,467 0 0
JD.COM INC SPON ADR CL A 47215P106 144,690 5,603,788 SH   SOLE NONE 5,603,788 0 0
APOLLO GLOBAL MGMT CL A SHS 037612306 29,465 1,235,943 SH   SOLE NONE 1,235,943 0 0
YANDEX NV SHS CL A N97284108 26,930 968,870 SH   SOLE NONE 968,870 0 0
YAHOO COM 984332106 109,095 2,677,188 SH   SOLE NONE 2,677,188 0 0
KKR & CO LP COM UNITS 48248M102 35,433 1,588,931 SH   SOLE NONE 1,588,931 0 0
POLO RALPH LAUREN CORP CL A 751212101 23,084 140,133 SH   SOLE NONE 140,133 0 0
DOLLAR GENERAL CORP NEW COM 256677105 26,781 438,237 SH   SOLE NONE 438,237 0 0
EMP STATE REALTY TRUST INC CL A 292104106 1,868 124,342 SH   SOLE NONE 124,342 0 0
GAP COM 364760108 21,150 507,327 SH   SOLE NONE 507,327 0 0
DISCOVERY COMMUNICATIONS NEW COM SER A 25470F104 27,304 722,337 SH   SOLE NONE 722,337 0 0
YUM BRANDS INC COM 988498101 27,665 384,344 SH   SOLE NONE 384,344 0 0
BLACKSTONE GROUP LP COM UNIT LTD 09253U108 30,470 967,929 SH   SOLE NONE 967,929 0 0
DOLLAR TREE INC COM 256746108 9,825 175,230 SH   SOLE NONE 175,230 0 0
DISCOVERY COMMUNICATIONS NEW COM SER C 25470F302 20,751 556,618 SH   SOLE NONE 556,618 0 0
MARKET VECTORS ETF TR GOLD MINER ETF 57060U100 5,581 261,310 SH   SOLE NONE 261,310 0 0
EMBOTELLADORA ANDINA SPON ADR A 29081P204 1,745 108,066 SH   SOLE NONE 108,066 0 0
BRIXMOR PROPERTY GRP INC COM 11120U105 2,885 129,623 SH   SOLE NONE 129,623 0 0
ACTIVISION BLIZZARD INC COM 00507V109 7,355 353,772 SH   SOLE NONE 353,772 0 0
EBAY INC COM 278642103 31,258 551,972 SH   SOLE NONE 551,972 0 0
GANNETT CO COM 364730101 2,833 95,500 SH   SOLE NONE 95,500 0 0
BAIDU INC SPON ADR REP A 056752108 23,895 109,493 SH   SOLE NONE 109,493 0 0
TWENTY-FIRST CENTRY FOX CL B 90130A200 19,082 572,849 SH   SOLE NONE 572,849 0 0
AMAZON.COM INC COM 023135106 29,532 91,590 SH   SOLE NONE 91,590 0 0
MCDONALDS CORP COM 580135101 18,057 190,457 SH   SOLE NONE 190,457 0 0
TWENTY-FRST CENT CL A 90130A101 10,464 305,176 SH   SOLE NONE 305,176 0 0
QUALCOMM INC COM 747525103 17,151 229,384 SH   SOLE NONE 229,384 0 0
GOOGLE INC CL A 38259P508 36,247 61,601 SH   SOLE NONE 61,601 0 0
COMCAST CORP NEW CL A 20030N101 7,724 143,631 SH   SOLE NONE 143,631 0 0
INFOSYS LTD SPONSORED ADR 456788108 1,702 28,138 SH   SOLE NONE 28,138 0 0
APPLE INC COM 037833100 9,756 96,831 SH   SOLE NONE 96,831 0 0
WAL-MART STORES INC COM 931142103 3,928 51,373 SH   SOLE NONE 51,373 0 0
COLGATE-PALMOLIVE CO COM 194162103 723 11,083 SH   SOLE NONE 11,083 0 0
BERKSHIRE HATHAWAY CL B NEW 084670702 1,381 10,000 SH   SOLE NONE 10,000 0 0
COCA COLA COM 191216100 736 17,251 SH   SOLE NONE 17,251 0 0