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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
GDS HOLDINGS LTD ADR 36165L108   9,201 817,103 SH   DFND 2 817,103 0 0
MOMO INC. ADR 60879B107   11,996 382,770 SH   DFND 2 382,770 0 0
BAIDU INC. ADR 056752108   20,311 82,000 SH   DFND 2 82,000 0 0
NEW ORIENTAL EDUCATION & TECHNOLOGY GROUP INC ADR 647581107   36,531 413,905 SH   DFND 2 413,905 0 0
NETEASE INC ADR 64110W102   36,953 140,074 SH   DFND 2 140,074 0 0
JD.COM INC ADR 47215P106   75,441 1,974,906 SH   DFND 2 1,974,906 0 0
RANDGOLD RESOURCES LTD ADR 752344309   5,661 57,970 SH   DFND   57,970 0 0
PAMPA ENERGIA SA ADR 697660207   1,318 20,242 SH   DFND   20,242 0 0
BRF S.A. ADR 10552T107   2,235 155,134 SH   DFND   155,134 0 0
BANCO MACRO SA ADR 05961W105   2,242 19,101 SH   DFND   19,101 0 0
EMPRESA DISTRIBUIDORA Y COMERCIALIZADORA NORTE S.A. ADR 29244A102   3,708 93,280 SH   DFND   93,280 0 0
FOMENTO ECONOMICO MEXICANO, S. A. B. DE C. V. ADR 344419106   4,328 45,304 SH   DFND   45,304 0 0
CEMEX S.A.B. DE C.V. ADR 151290889   4,871 536,400 SH   DFND   536,400 0 0
YPF SOCIEDAD ANONIMA ADR 984245100   6,044 271,258 SH   DFND   271,258 0 0
AMERICA MOVIL S.A.B. DE C.V. ADR 02364W105   6,437 362,641 SH   DFND   362,641 0 0
PETR0LEO BRASILEIRO SA PETRO ADR 71654V408   7,266 723,733 SH   DFND   723,733 0 0
COMPANHIA DE BEBIDAS DAS AMERICAS - AMBEV ADR 02319V103   9,719 1,474,800 SH   DFND   1,474,800 0 0
MOBILE TELESYSTEMS PJSC ADR 607409109   23,447 2,245,903 SH   DFND   2,245,903 0 0
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY, LTD. ADR 874039100   42,416 1,129,578 SH   DFND 1 1,129,578 0 0
GERDAU S.A. ADR 373737105   1,399 407,900 SH   DFND   407,900 0 0
AZUL S.A. ADR 05501U106   3,945 142,558 SH   DFND   142,558 0 0
TELEFONICA BRASIL S.A. ADR 87936R106   4,647 293,400 SH   DFND   293,400 0 0
BANCOLOMBIA S.A ADR 05968L102   5,898 128,800 SH   DFND   128,800 0 0
BANCO BRADESCO S.A. ADR 059460303   13,638 1,231,955 SH   DFND   1,231,955 0 0
PETR0LEO BRASILEIRO SA PETRO ADR 71654V101   17,006 1,760,506 SH   DFND   1,760,506 0 0
ITAU UNIBANCO HOLDING S.A. ADR 465562106   33,992 2,481,182 SH   DFND   2,481,182 0 0
ALIBABA GROUP HOLDING LIMITED ADR 01609W102   283,855 1,643,530 SH   DFND 1, 2 1,643,530 0 0
WEIBO CORPORATION ADR 948596101   11,934 120,623 SH   DFND 2 120,623 0 0
TAL EDUCATION GROUP ADR 874080104   53,181 1,577,595 SH   DFND 2 1,577,595 0 0
SINA CORPORATION COM G81477104   5,906 51,527 SH   DFND 2 51,527 0 0
SYSCO CORP. COM 871829107   1,399 25,942 SH   DFND 2 25,942 0 0
REGAL ENTERTAINMENT GROUP COM 758766109   413 25,810 SH   DFND   25,810 0 0
NEWMONT MINING CORPORATION COM 651639106   471 12,544 SH   DFND   12,544 0 0
CISCO SYSTEMS INC. COM 17275R102   648 19,271 SH   DFND   19,271 0 0
MICROSOFT CORP. COM 594918104   715 9,599 SH   DFND   9,599 0 0
COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION COM 192446102   774 10,665 SH   DFND   10,665 0 0
CF INDUSTRIES HOLDINGS, INC. COM 125269100   1,251 35,569 SH   DFND   35,569 0 0
BUNGE LTD. COM G16962105   1,926 27,728 SH   DFND   27,728 0 0
ARCHER-DANIELS-MIDLAND COMPANY COM 039483102   3,618 85,104 SH   DFND   85,104 0 0
MONSANTO CO. COM 61166W101   4,124 34,415 SH   DFND   34,415 0 0
NATIONAL OILWELL VARCO INC. COM 637071101   8,447 236,410 SH   DFND   236,410 0 0
CHEVRON CORPORATION COM 166764100   11,524 98,077 SH   DFND   98,077 0 0
DEERE & COMPANY COM 244199105   11,888 94,658 SH   DFND   94,658 0 0
CABOT OIL & GAS CORPORATION COM 127097103   17,587 657,449 SH   DFND   657,449 0 0
GOLDCORP INC. COM 380956409   211 16,276 SH   DFND   16,276 0 0
GLOBANT SA COM L44385109   496 12,377 SH   DFND   12,377 0 0
MOSAIC CO., THE COM 61945C103   1,369 63,419 SH   DFND   63,419 0 0
ADECOAGRO SA COM L00849106   2,907 269,206 SH   DFND   269,206 0 0
CREDICORP LTD COM G2519Y108   3,189 15,555 SH   DFND   15,555 0 0
PAN AMERICAN SILVER CORP COM 697900108   3,462 203,047 SH   DFND   203,047 0 0
FORUM ENERGY TECHNOLOGIES, INC. COM 34984V100   11,196 704,126 SH   DFND   704,126 0 0
POTASH CORP. OF SASKATCHEWAN INC. COM 73755L107   19,817 1,029,972 SH   DFND   1,029,972 0 0
AGRIUM INC. COM 008916108   14,208 132,525 SH   DFND 1 55,332 0 77,193
SUNCOR ENERGY INC. COM 867224107   38,755 1,106,335 SH   DFND 1 528,993 0 577,342
BIOMARIN PHARMACEUTICAL INC. COM 09061G101   486 5,222 SH   DFND 1 5,222 0 0
MOBILEYE NV COM N51488117   24,038 386,470 SH   DFND 1 91,945 0 294,525
YANDEX N.V. COM N97284108   40,883 1,240,745 SH   DFND 1 892,850 0 347,895
BANK OF THE OZARKS, INC. COM 063904106   1,459 30,366 SH   DFND 1, 2 30,366 0 0
DUKE ENERGY CORP. COM 26441C204   217 2,585 SH   DFND 2 2,585 0 0
PILGRIM'S PRIDE CORPORATION COM 72147K108   276 9,715 SH   DFND 2 9,715 0 0
MEDTRONIC PLC COM G5960L103   332 4,276 SH   DFND 2 4,276 0 0
GRAPHIC PACKAGING HOLDING CO. COM 388689101   425 30,473 SH   DFND 2 30,473 0 0
RPM INTERNATIONAL INC. COM 749685103   432 8,425 SH   DFND 2 8,425 0 0
KIMBERLY-CLARK CORP. COM 494368103   462 3,919 SH   DFND 2 3,919 0 0
EXXONMOBIL CORP. COM 30231G102   488 5,951 SH   DFND 2 5,951 0 0
TITAN MACHINERY INC. COM 88830R101   503 32,364 SH   DFND   32,364 0 0
PFIZER INC. COM 717081103   572 16,030 SH   DFND 2 16,030 0 0
ECOLAB INC. COM 278865100   584 4,541 SH   DFND 2 4,541 0 0
SANDERSON FARMS INC COM 800013104   707 4,378 SH   DFND 2 4,378 0 0
HCA HEALTHCARE INC. COM 40412C101   736 9,245 SH   DFND 2 9,245 0 0
AMGEN INC. COM 031162100   825 4,428 SH   DFND 2 4,428 0 0
CLOROX CO. COM 189054109   960 7,283 SH   DFND 2 7,283 0 0
AMPHENOL CORP. COM 032095101   1,120 13,235 SH   DFND 2 13,235 0 0
PRICELINE GROUP INC. (THE) COM 741503403   1,256 686 SH   DFND 2 686 0 0
QUEST DIAGNOSTICS INC. COM 74834L100   1,260 13,456 SH   DFND 2 13,456 0 0
WALT DISNEY COMPANY (THE) COM 254687106   1,278 12,966 SH   DFND 2 12,966 0 0
PG&E CORP. COM 69331C108   1,394 20,478 SH   DFND 2 20,478 0 0
PARKER-HANNIFIN CORP. COM 701094104   1,399 7,993 SH   DFND 1, 2 7,993 0 0
CINEMARK HOLDINGS INC. COM 17243V102   1,436 39,652 SH   DFND 1, 2 39,652 0 0
LABORATORY CORPORATION OF AMERICA HOLDINGS COM 50540R409   1,441 9,549 SH   DFND 2 9,549 0 0
CHURCH & DWIGHT COMPANY, INC. COM 171340102   1,492 30,798 SH   DFND 2 30,798 0 0
STARBUCKS CORP. COM 855244109   1,496 27,848 SH   DFND 1, 2 27,848 0 0
ILLINOIS TOOL WORKS INC. COM 452308109   1,513 10,227 SH   DFND 2 10,227 0 0
WASTE MANAGEMENT, INC. COM 94106L109   1,528 19,519 SH   DFND 2 19,519 0 0
ESTEE LAUDER COMPANIES INC. (THE) COM 518439104   1,550 14,369 SH   DFND 2 14,369 0 0
JOHNSON & JOHNSON COM 478160104   1,560 12,001 SH   DFND 2 12,001 0 0
WEST PHARMACEUTICAL SERVICES, INC. COM 955306105   1,561 16,214 SH   DFND 2 16,214 0 0
BROADCOM LTD. COM Y09827109   1,576 6,500 SH   DFND 1, 2 6,500 0 0
ALPHABET INC. COM 02079K305   1,587 1,630 SH   DFND 2 1,630 0 0
ARAMARK HOLDINGS CORPORATION COM 03852U106   1,589 39,135 SH   DFND 2 39,135 0 0
AIR PRODUCTS AND CHEMICALS INC. COM 009158106   1,594 10,539 SH   DFND 2 10,539 0 0
ELECTRONIC ARTS INC. COM 285512109   1,617 13,694 SH   DFND 1, 2 13,694 0 0
HERSHEY COMPANY (THE) COM 427866108   1,619 14,836 SH   DFND 2 14,836 0 0
INTUIT INC. COM 461202103   1,623 11,418 SH   DFND 2 11,418 0 0
REPUBLIC SERVICES INC. COM 760759100   1,627 24,625 SH   DFND 2 24,625 0 0
PNC FINANCIAL SERVICES GROUP, INC. COM 693475105   1,632 12,114 SH   DFND 1, 2 12,114 0 0
MCCORMICK & COMPANY, INCORPORATED COM 579780206   1,641 15,983 SH   DFND 2 15,983 0 0
COSTCO WHOLESALE CORP. COM 22160K105   1,642 9,994 SH   DFND 2 9,994 0 0
NORTHERN TRUST CORP. COM 665859104   1,683 18,300 SH   DFND 1, 2 18,300 0 0
SHERWIN-WILLIAMS COMPANY (THE) COM 824348106   1,699 4,745 SH   DFND 2 4,745 0 0
PROCTER & GAMBLE CO. COM 742718109   1,729 19,012 SH   DFND 2 19,012 0 0
GENUINE PARTS COMPANY COM 372460105   1,731 18,101 SH   DFND 2 18,101 0 0
LOCKHEED MARTIN CORP. COM 539830109   1,865 6,010 SH   DFND 1, 2 6,010 0 0
GILEAD SCIENCES, INC. COM 375558103   1,890 23,323 SH   DFND 1, 2 23,323 0 0
MICRON TECHNOLOGY INC. COM 595112103   2,002 50,911 SH   DFND 1, 2 50,911 0 0
SERVICE CORPORATION INTERNATIONAL COM 817565104   2,120 61,426 SH   DFND 1, 2 61,426 0 0
INTERNATIONAL FLAVORS & FRAGRANCES, INC. COM 459506101   2,126 14,877 SH   DFND 2 14,877 0 0
CINTAS CORP. COM 172908105   2,170 15,034 SH   DFND 2 15,034 0 0
STRYKER CORP. COM 863667101   2,206 15,534 SH   DFND 2 15,534 0 0
PEPSICO INC. COM 713448108   2,214 19,870 SH   DFND 2 19,870 0 0
HOME DEPOT INC. COM 437076102   2,233 13,651 SH   DFND 2 13,651 0 0
ACTIVISION BLIZZARD, INC. COM 00507V109   2,306 35,747 SH   DFND 1, 2 35,747 0 0
FIRST REPUBLIC BANK COM 33616C100   2,343 22,426 SH   DFND 1, 2 22,426 0 0
INGREDION INCORPORATED COM 457187102   2,345 19,438 SH   DFND 2 19,438 0 0
3M CO. COM 88579Y101   2,367 11,275 SH   DFND 2 11,275 0 0
AMAZON.COM, INC. COM 023135106   2,591 2,696 SH   DFND 1, 2 2,696 0 0
COLGATE-PALMOLIVE CO. COM 194162103   2,696 37,002 SH   DFND 2 37,002 0 0
CVS HEALTH CORPORATION COM 126650100   2,838 34,904 SH   DFND 1, 2 34,904 0 0
RAYTHEON CO. COM 755111507   2,941 15,763 SH   DFND 1, 2 15,763 0 0
ZOETIS INC. COM 98978V103   2,960 46,416 SH   DFND 1, 2 46,416 0 0
APPLE INC. COM 037833100   2,968 19,258 SH   DFND 1, 2 19,258 0 0
NEWELL BRANDS INC. COM 651229106   3,090 72,389 SH   DFND 1, 2 72,389 0 0
HONEYWELL INTERNATIONAL INC. COM 438516106   3,153 22,239 SH   DFND 1, 2 22,239 0 0
NIKE INC. COM 654106103   3,243 62,536 SH   DFND 1, 2 62,536 0 0
FACEBOOK INC COM 30303M102   3,313 19,392 SH   DFND 1, 2 19,392 0 0
ALPHABET INC. COM 02079K107   3,343 3,486 SH   DFND 1, 2 3,486 0 0
FORTUNE BRANDS HOME & SECURITY, INC. COM 34964C106   3,385 50,339 SH   DFND 1, 2 50,339 0 0
A. O. SMITH CORPORATION COM 831865209   3,456 58,159 SH   DFND 1, 2 58,159 0 0
COOPER COMPANIES, INC. (THE) COM 216648402   3,716 15,670 SH   DFND 1, 2 15,670 0 0
ELI LILLY & CO. COM 532457108   3,721 43,492 SH   DFND 1, 2 43,492 0 0
VISA INC. COM 92826C839   3,861 36,692 SH   DFND 1, 2 36,692 0 0
ADOBE SYSTEMS INC. COM 00724F101   3,976 26,654 SH   DFND 1, 2 26,654 0 0
TRINSEO S.A. COM L9340P101   4,227 63,000 SH   DFND 2 63,000 0 0
MASTERCARD INCORPORATED COM 57636Q104   4,482 31,742 SH   DFND 1, 2 31,742 0 0
UNION PACIFIC CORP. COM 907818108   4,710 40,612 SH   DFND 1, 2 40,612 0 0
TJX COMPANIES INC. COM 872540109   4,880 66,191 SH   DFND 1, 2 66,191 0 0
BECTON DICKINSON & CO. COM 075887109   5,459 27,857 SH   DFND 1, 2 27,857 0 0
JPMORGAN CHASE & CO. COM 46625H100   6,164 64,548 SH   DFND 1, 2 64,548 0 0
RELIANCE STEEL & ALUMINUM CO. COM 759509102   6,577 86,344 SH   DFND 1, 2 86,344 0 0
PRAXAIR INC. COM 74005P104   10,738 76,840 SH   DFND 2 76,840 0 0
EAGLE MATERIALS INC. COM 26969P108   11,037 103,441 SH   DFND 2 103,441 0 0
SCHLUMBERGER LTD. COM 806857108   11,898 170,557 SH   DFND 1, 2 170,557 0 0
AVERY DENNISON CORP. COM 053611109   12,805 130,212 SH   DFND 1, 2 130,212 0 0
AGCO CORPORATION COM 001084102   13,683 185,473 SH   DFND 2 185,473 0 0
ALBEMARLE CORP. COM 012653101   16,184 118,732 SH   DFND 1, 2 118,732 0 0
TYSON FOODS INC. COM 902494103   16,311 231,531 SH   DFND   231,531 0 0
HALLIBURTON CO. COM 406216101   18,363 398,926 SH   DFND 1, 2 398,926 0 0
EOG RESOURCES INC. COM 26875P101   20,631 213,270 SH   DFND 1, 2 213,270 0 0
YUM CHINA HOLDING, INC. COM 98850P109   21,911 548,182 SH   DFND 2 548,182 0 0
INPHI CORPORATION COM 45772F107   218 5,502 SH   DFND 2 5,502 0 0
PLAINS GP HOLDINGS LP COM 72651A207   224 10,239 SH   DFND 2 10,239 0 0
PURE STORAGE, INC. COM 74624M102   252 15,764 SH   DFND 2 15,764 0 0
CYBERARK SOFTWARE LTD COM M2682V108   381 9,300 SH   DFND 2 9,300 0 0
Q2 HOLDINGS INC COM 74736L109   518 12,448 SH   DFND 2 12,448 0 0
TRACTOR SUPPLY COMPANY COM 892356106   1,335 21,095 SH   DFND 2 21,095 0 0
CARNIVAL CORP. COM 143658300   1,849 28,637 SH   DFND 1, 2 28,637 0 0
ACADIA HEALTHCARE COMPANY INC. COM 00404A109   2,234 46,777 SH   DFND 1, 2 46,777 0 0
EPAM SYSTEMS INC COM 29414B104   35,728 406,329 SH   DFND 1, 2 336,218 0 70,111
ISHARES MSCI EMERGING MARKETS ASIA ETF ETF 464286426   330 4,745 SH   DFND 1 4,745 0 0
ISHARES GLOBAL TELECOM ETF ETF 464287291   335 2,350 SH   DFND 2 0 0 2,350
ISHARES MSCI INDIA ETF ETF 46429B598   347 10,555 SH   DFND   10,555 0 0
SPDR S&P 500 ETF TRUST ETF 78462F103   450 1,790 SH   DFND 2 0 0 1,790
ISHARES TRUST ETF 464287333   455 6,820 SH   DFND 2 0 0 6,820
ISHARES US REGIONAL BANKS ETF ETF 464288778   542 11,491 SH   DFND 1 11,491 0 0
ISHARES EUROPE DEVELOPED REAL ESTATE ETF ETF 464288471   545 14,040 SH   DFND 1 14,040 0 0
ISHARES MSCI GERMANY ETF ETF 464286806   615 18,962 SH   DFND 1 18,962 0 0
ISHARES TRUST - ISHARES EUROPE ETF ETF 464287861   753 16,070 SH   DFND 2 0 0 16,070
ISHARES TRUST ETF 46434V886   753 24,425 SH   DFND 2 0 0 24,425
VANGUARD FTSE EMERGING MARKETS ETF ETF 922042858   944 21,676 SH   DFND 1 21,676 0 0
ISHARES MSCI SWEDEN ETF ETF 464286756   1,063 29,626 SH   DFND 1 29,626 0 0
ISHARES TRUST ETF 464288729   1,222 13,742 SH   DFND 1 13,742 0 0
ISHARES TRUST ETF 464288281   1,320 11,336 SH   DFND 1 11,336 0 0
ISHARES INC ETF 464286608   1,724 39,789 SH   DFND 1 39,789 0 0
ISHARES INC ETF 46434G822   2,119 38,038 SH   DFND 1 38,038 0 0
ISHARES CORE S&P 500 ETF ETF 464287200   85,869 340,751 SH   DFND   340,751 0 0
ISHARES MSCI ACWI ETF ETF 464288257   2,758 40,292 SH   DFND   40,292 0 0
POWERSHARES H/Y EQ DVD ACHIE ETF ETF 73935X302   477 27,768 SH   DFND   27,768 0 0
SPDR S P DIVIDEND ETF ETF 78464A763   1,436 15,725 SH   DFND   15,725 0 0
WISDOM TREE US DIVIDEND EX-FINA DIV EX-FINL FD 97717W406   1,431 16,959 SH   DFND   16,959 0 0
iShares MSCI EAFE Index Fund ETF 464287465   920 13,512 SH   DFND   13,512 0 0
iShares Russell 1000 Growth ET ETF 464287614   86,884 697,807 SH   DFND   697,807 0 0
iShares Russell 2000 Growth ET ETF 464287648   88,651 497,176 SH   DFND   497,176 0 0
iShares S&P 100 ETF ETF 464287101   85,727 772,382 SH   DFND   772,382 0 0
iShares Select Dividend ETF ETF 464287168   1,426 15,203 SH   DFND   15,203 0 0