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
3M CO COM 88579Y101 11,466 96,000 SH   DFND 1 96,000 0 0
ABBOTT LABORATORIES COM 002824100 4,979 150,000 SH   DFND 1 150,000 0 0
ABBVIE INC COM 00287Y109 7,608 170,000 SH   DFND 1 170,000 0 0
ALTRIA GROUP INC COM 02209S103 7,905 230,000 SH   DFND 1 230,000 0 0
AMAZON.COM INC COM 023135106 11,567 37,000 SH   DFND 1 37,000 0 0
AMERICA MOVIL ADR SERIES ADR 02364W204 11,496 600,000 SH   DFND 1 600,000 0 0
AMERICA MOVIL ADR SERIES ADR 02364W105 4,006 202,448 SH   DFND 1 202,448 0 0
AMERICAN EXPRESS CO COM 025816109 20,771 275,000 SH   DFND 1 275,000 0 0
AMERICAN INTERNATIONAL GR COM 026874784 12,398 255,000 SH   DFND 1 255,000 0 0
AMERISOURCEBERGEN CORP COM 03073E105 11,000 180,000 SH   DFND 1 180,000 0 0
AMGEN INC COM 031162100 11,193 100,000 SH   DFND 1 100,000 0 0
ANADARKO PETROLEUM CORP COM 032511107 4,649 50,000 SH   DFND 1 50,000 0 0
ANALOG DEVICES INC COM 032654105 5,645 120,000 SH   DFND 1 120,000 0 0
APPLE INC COM 037833100 42,908 90,000 SH   DFND 1 90,000 0 0
APPLIED MATERIALS INC COM 038222105 7,893 450,000 SH   DFND 1 450,000 0 0
AT+T INC COM 00206R102 20,298 600,000 SH   DFND 1 600,000 0 0
AUTOMATIC DATA PROCESSING COM 053015103 14,474 200,000 SH   DFND 1 200,000 0 0
BAIDU INC SPON ADR ADR 056752108 7,754 50,000 SH   DFND 1 50,000 0 0
BAKER HUGHES INC COM 057224107 11,295 230,000 SH   DFND 1 230,000 0 0
BANCO BRADESCO ADR ADR 059460303 1,937 139,755 SH   DFND 1 139,755 0 0
BANK OF AMERICA CORP COM 060505104 14,835 1,075,000 SH   DFND 1 1,075,000 0 0
BANK OF NEW YORK MELLON COM 064058100 11,167 370,000 SH   DFND 1 370,000 0 0
BERKSHIRE HATHAWAY INC COM 084670702 22,696 200,000 SH   DFND 1 200,000 0 0
BOEING CO/THE COM 097023105 9,398 80,000 SH   DFND 1 80,000 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 7,402 160,000 SH   DFND 1 160,000 0 0
CARDINAL HEALTH INC COM 14149Y108 15,645 300,000 SH   DFND 1 300,000 0 0
CARNIVAL CORP COM 143658300 8,160 250,000 SH   DFND 1 250,000 0 0
CEMEX SAB SPONS ADR PART ADR 151290889 3,666 328,236 SH   DFND 1 328,236 0 0
CHEVRON CORP COM 166764100 30,360 250,000 SH   DFND 1 250,000 0 0
CIA SIDERURGICA NACL SP ADR 20440W105 279 65,400 SH   DFND 1 65,400 0 0
CISCO SYSTEMS INC COM 17275R102 14,292 610,000 SH   DFND 1 610,000 0 0
CITIGROUP INC COM 172967424 23,280 480,000 SH   DFND 1 480,000 0 0
CME GROUP INC. COM 12572Q105 2,955 40,000 SH   SOLE   40,000 0 0
COCA COLA CO/THE COM 191216100 14,394 380,000 SH   DFND 1 380,000 0 0
COMCAST CORP CLASS A COM 20030N101 11,965 265,000 SH   DFND 1 265,000 0 0
COMPANHIA DE BEBIDAS PRF ADR 20441W203 2,493 65,000 SH   DFND 1 65,000 0 0
CONOCOPHILLIPS COM 20825C104 17,378 250,000 SH   DFND 1 250,000 0 0
CORNING INC COM 219350105 10,213 700,000 SH   DFND 1 700,000 0 0
COSTCO WHOLESALE CORP COM 22160K105 5,527 48,000 SH   DFND 1 48,000 0 0
COVIDIEN PLC COM G2554F113 14,019 230,000 SH   DFND 1 230,000 0 0
CSX CORP COM 126408103 14,157 550,000 SH   DFND 1 550,000 0 0
CTRIP.COM INTERNATIONAL ADR 22943F100 8,177 140,000 SH   DFND 1 140,000 0 0
CVS CAREMARK CORP COM 126650100 7,379 130,000 SH   DFND 1 130,000 0 0
DEVON ENERGY CORPORATION COM 25179M103 10,108 175,000 SH   DFND 1 175,000 0 0
DOW CHEMICAL CO/THE COM 260543103 10,179 265,000 SH   DFND 1 265,000 0 0
DU PONT (E.I.) DE NEMOURS COM 263534109 12,881 220,000 SH   DFND 1 220,000 0 0
DUKE ENERGY CORP COM 26441C204 12,022 180,000 SH   DFND 1 180,000 0 0
EBAY INC COM 278642103 2,789 50,000 SH   DFND 1 50,000 0 0
ELI LILLY + CO COM 532457108 6,040 120,000 SH   DFND 1 120,000 0 0
EMBRAER SA ADR ADR 29082A107 325 10,000 SH   DFND 1 10,000 0 0
EMC CORP/MA COM 268648102 15,592 610,000 SH   DFND 1 610,000 0 0
EMERSON ELECTRIC CO COM 291011104 15,852 245,000 SH   DFND 1 245,000 0 0
EXPRESS SCRIPTS HOLDING COM 30219G108 5,560 90,000 SH   DFND 1 90,000 0 0
EXXON MOBIL CORP COM 30231G102 40,439 470,000 SH   DFND 1 470,000 0 0
FEDEX CORP COM 31428X106 9,699 85,000 SH   DFND 1 85,000 0 0
FOMENTO ECONOMICO MEX SP ADR 344419106 10,803 111,300 SH   DFND 1 111,300 0 0
FORD MOTOR CO COM 345370860 20,654 1,225,000 SH   DFND 1 1,225,000 0 0
FREEPORT MCMORAN COPPER COM 35671D857 3,638 110,000 SH   DFND 1 110,000 0 0
GENERAL ELECTRIC CO COM 369604103 34,655 1,450,000 SH   DFND 1 1,450,000 0 0
GILEAD SCIENCES INC COM 375558103 10,685 170,000 SH   DFND 1 170,000 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 6,332 40,000 SH   DFND 1 40,000 0 0
GOOGLE INC CL A COM 38259P508 25,404 29,000 SH   DFND 1 29,000 0 0
GRUPO TELEVISA SA SPON ADR 40049J206 4,329 155,000 SH   DFND 1 155,000 0 0
HALLIBURTON CO COM 406216101 16,856 350,000 SH   DFND 1 350,000 0 0
HARTFORD FINANCIAL SVCS COM 416515104 7,778 250,000 SH   DFND 1 250,000 0 0
HEWLETT PACKARD CO COM 428236103 4,196 200,000 SH   DFND 1 200,000 0 0
HOME DEPOT INC COM 437076102 9,861 130,000 SH   DFND 1 130,000 0 0
HONEYWELL INTERNATIONAL COM 438516106 17,436 210,000 SH   DFND 1 210,000 0 0
INTEL CORP COM 458140100 22,920 1,000,000 SH   DFND 1 1,000,000 0 0
INTL BUSINESS MACHINES COM 459200101 18,526 100,000 SH   DFND 1 100,000 0 0
ITAU UNIBANCO HLDNG PREF ADR 465562106 1,066 75,625 SH   DFND 1 75,625 0 0
JOHNSON + JOHNSON COM 478160104 35,539 410,000 SH   DFND 1 410,000 0 0
JPMORGAN CHASE + CO COM 46625H100 20,676 400,000 SH   DFND 1 400,000 0 0
KEYCORP COM 493267108 10,251 900,000 SH   DFND 1 900,000 0 0
KINDER MORGAN INC COM 49456B119 939 192,000 SH   DFND 1 192,000 0 0
MASTERCARD INC CLASS A COM 57636Q104 8,078 12,000 SH   DFND 1 12,000 0 0
MCDONALD S CORP COM 580135101 19,244 200,000 SH   DFND 1 200,000 0 0
MEDTRONIC INC COM 585055106 5,325 100,000 SH   DFND 1 100,000 0 0
MELCO CROWN ENTERTAINME ADR 585464100 19,092 600,000 SH   DFND 1 600,000 0 0
MERCK + CO. INC. COM 58933Y105 23,800 500,000 SH   DFND 1 500,000 0 0
METLIFE INC COM 59156R108 8,446 180,000 SH   DFND 1 180,000 0 0
MICRON TECHNOLOGY INC COM 595112103 14,841 850,000 SH   DFND 1 850,000 0 0
MICROSOFT CORP COM 594918104 25,308 760,000 SH   DFND 1 760,000 0 0
MILLENNIAL MEDIA INC USD COM 60040N105 729 103,046 SH   SOLE   103,046 0 0
MORGAN STANLEY COM 617446448 5,121 190,000 SH   DFND 1 190,000 0 0
NABORS INDUSTRIES LTD COM G6359F103 9,235 575,000 SH   DFND 1 575,000 0 0
NASDAQ OMX GROUP/THE COM 631103108 6,097 190,000 SH   DFND 1 190,000 0 0
NATIONAL OILWELL VARCO COM 637071101 15,632 200,000 SH   DFND 1 200,000 0 0
NEW ORIENTAL EDUCATIO SP ADR 647581107 7,168 288,000 SH   DFND 1 288,000 0 0
NORFOLK SOUTHERN CORP COM 655844108 13,150 170,000 SH   DFND 1 170,000 0 0
NORTHERN TRUST CORP COM 665859104 11,148 205,000 SH   DFND 1 205,000 0 0
OCCIDENTAL PETROLEUM CORP COM 674599105 7,670 82,000 SH   DFND 1 82,000 0 0
OI SA ADR ADR 670851203 511 276,066 SH   DFND 1 276,066 0 0
OI SA ADR ADR 670851104 51 26,930 SH   DFND 1 26,930 0 0
ORACLE CORP COM 68389X105 13,256 400,000 SH   DFND 1 400,000 0 0
PEABODY ENERGY CORP COM 704549104 2,241 130,000 SH   DFND 1 130,000 0 0
PEPSICO INC COM 713448108 11,927 150,000 SH   DFND 1 150,000 0 0
PETROLEO BRASILEIRO S.A. ADR 71654V408 1,392 90,000 SH   DFND 1 90,000 0 0
PETROLEO BRASILEIRO SPON ADR 71654V101 2,512 150,127 SH   DFND 1 150,127 0 0
PFIZER INC COM 717081103 33,878 1,180,000 SH   DFND 1 1,180,000 0 0
PHILIP MORRIS INTERNATION COM 718172109 15,584 180,000 SH   DFND 1 180,000 0 0
PLUM CREEK TIMBER CO COM 729251108 12,176 260,000 SH   DFND 1 260,000 0 0
PNC FINANCIAL SERVICES GR COM 693475105 16,295 225,000 SH   DFND 1 225,000 0 0
PPL CORPORATION COM 69351T106 9,108 300,000 SH   DFND 1 300,000 0 0
PRAXAIR INC COM 74005P104 10,814 90,000 SH   DFND 1 90,000 0 0
PRICELINE.COM INC COM 741503403 5,055 5,000 SH   DFND 1 5,000 0 0
PRINCIPAL FINANCIAL GROUP COM 74251V102 14,980 350,000 SH   DFND 1 350,000 0 0
PROCTER + GAMBLE CO/THE COM 742718109 20,412 270,000 SH   DFND 1 270,000 0 0
PUBLIC SERVICE ENTERPRISE COM 744573106 8,564 260,000 SH   DFND 1 260,000 0 0
QUALCOMM INC COM 747525103 6,733 100,000 SH   DFND 1 100,000 0 0
RAYONIER INC COM 754907103 11,124 200,000 SH   DFND 1 200,000 0 0
RPX CORP USD0.0001 COM 74972G103 452 25,784 SH   SOLE   25,784 0 0
SCHLUMBERGER LTD COM 806857108 13,260 150,000 SH   DFND 1 150,000 0 0
SEALED AIR CORP COM 81211K100 12,236 450,000 SH   DFND 1 450,000 0 0
SINA CORP COM G81477104 6,899 85,000 SH   DFND 1 85,000 0 0
SOUTHERN CO/THE COM 842587107 12,348 300,000 SH   DFND 1 300,000 0 0
STANLEY BLACK + DECKER COM 854502101 12,677 140,000 SH   DFND 1 140,000 0 0
STARBUCKS CORP COM 855244109 20,787 270,000 SH   DFND 1 270,000 0 0
STARWOOD HOTELS + RESORTS COM 85590A401 10,632 160,000 SH   DFND 1 160,000 0 0
STATE STREET CORP COM 857477103 7,892 120,000 SH   DFND 1 120,000 0 0
STERICYCLE INC COM 858912108 4,616 40,000 SH   DFND 1 40,000 0 0
SYSCO CORP COM 871829107 6,364 200,000 SH   DFND 1 200,000 0 0
TEXAS INSTRUMENTS INC COM 882508104 5,035 125,000 SH   DFND 1 125,000 0 0
TIME WARNER INC COM 887317303 8,558 130,000 SH   DFND 1 130,000 0 0
TWENTY FIRST CENTURY FOX COM 90130A101 9,213 275,000 SH   DFND 1 275,000 0 0
UNION PACIFIC CORP COM 907818108 7,769 50,000 SH   DFND 1 50,000 0 0
UNITED PARCEL SERVICE CL COM 911312106 21,938 240,000 SH   DFND 1 240,000 0 0
UNITED TECHNOLOGIES CORP COM 913017109 22,634 210,000 SH   DFND 1 210,000 0 0
UNITEDHEALTH GROUP INC COM 91324P102 20,042 280,000 SH   DFND 1 280,000 0 0
UNUM GROUP COM 91529Y106 3,804 125,000 SH   DFND 1 125,000 0 0
US BANCORP COM 902973304 21,954 600,000 SH   DFND 1 600,000 0 0
VALE SA SP ADR ADR 91912E105 3,485 223,407 SH   DFND 1 223,407 0 0
VERIZON COMMUNICATIONS COM 92343V104 13,529 290,000 SH   DFND 1 290,000 0 0
VIACOM INC CLASS B COM 92553P201 12,537 150,000 SH   DFND 1 150,000 0 0
VISA INC CLASS A SHARES COM 92826C839 9,566 50,000 SH   DFND 1 50,000 0 0
WAL MART STORES INC COM 931142103 25,146 340,000 SH   DFND 1 340,000 0 0
WALT DISNEY CO/THE COM 254687106 12,902 200,000 SH   DFND 1 200,000 0 0
WELLPOINT INC COM 94973V107 12,542 150,000 SH   DFND 1 150,000 0 0
WELLS FARGO + CO COM 949746101 19,834 480,000 SH   DFND 1 480,000 0 0
WHITEWAVE FOODS CO CL COM 966244105 7,186 360,000 SH   DFND 1 360,000 0 0
WISCONSIN ENERGY CORP COM 976657106 9,285 230,000 SH   DFND 1 230,000 0 0