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

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COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
ADOBE INCCOM00724F1012,1083,662SH SOLE 3,66200
AMBEV SASPONSORED ADR02319V10316,1415,848,246SH SOLE 5,848,24600
AMERICA MOVIL SAB DE CVSPON ADR L SHS02364W105221,20212,518,505SH SOLE 9,430,08803,088,417
AMERICAN TOWER CORPCOM03027X1002,77010,435SH SOLE 10,43500
BECTON DICKINSON AND COMPANYCOM0758871095,04020,502SH SOLE 20,50200
CBRE GROUP INCCOM1250431094,56546,886SH SOLE 46,88600
COLGATE-PALMOLIVE COMPANYCOM1941621032,44734,702SH SOLE 34,70200
CERNER CORPCOM1567821041,32117,483SH SOLE 17,48300
DOLLAR GENERAL CORPCOM2566771057,52535,471SH SOLE 35,47100
ELECTRONIC ARTS INCCOM2855121096,52745,881SH SOLE 45,88100
ESTEE LAUDER COMPANIES INCCOM5184391041,4774,923SH SOLE 4,92300
FOMENTO ECONOMICO MEXICANO SSPON ADR UNITS3444191064,69054,083SH SOLE 54,08300
GRUPO AEROPORTUARIO CTR NORTSPON ADR40050610110,67791,787SH SOLE 91,78700
HDFC BANK LTDADR REPS 3 SHS40415F101151,9492,078,925SH SOLE 1,232,2490846,676
HOME DEPOT INCCOM4370761022,0336,194SH SOLE 6,19400
ITAU UNIBANCO HLDG SASPON ADR REP PFD46556210637,6667,147,236SH SOLE 4,455,39302,691,843
MARSH & MCLENNAN COS INCCOM5717481025,82338,456SH SOLE 38,45600
MERCADOLIBRE INCCOM58733R102158,04094,105SH SOLE 57,048037,057
NIKE INCCOM6541061031,4319,856SH SOLE 9,85600
NVIDIA CORPCOM67066G1044,37721,128SH SOLE 21,12800
PAYPAL HOLDINGS INCCOM70450Y1033,18812,253SH SOLE 12,25300
P T TELEKOMUNIKASI INDONESIASPONSORED ADR7156841066,295247,845SH SOLE 247,84500
S&P GLOBAL INCCOM78409V1046,50715,315SH SOLE 15,31500
TAIWAN SEMICONDUCTOR MFG LTDSPONSORED ADR874039100271,2362,429,342SH SOLE 1,893,5010535,841
UNITED RENTALS, INC.COM9113631094,07911,623SH SOLE 11,62300
VISA INCCOM92826C8393,63316,308SH SOLE 16,30800