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
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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
Adecoagro SA COM L00849106 209 18,100 SH   SOLE   18,100 0 0
Alphabet Inc., Class A COM 02079K305 3,597 4,715 SH   SOLE   4,715 0 0
Amazon.com, Inc. COM 023135106 2,677 4,510 SH   SOLE   4,510 0 0
Amgen, Inc. COM 031162100 915 6,100 SH   SOLE   6,100 0 0
Apple Computer, Inc. COM 037833100 2,265 20,785 SH   SOLE   20,785 0 0
Baidu, Inc. ADR 056752108 164 860 SH   SOLE   860 0 0
Banco Bradesco S.A. ADR ADR 059460303 185 24,800 SH   SOLE   24,800 0 0
Banco Macro SA ADR ADR 05961W105 1,139 17,600 SH   SOLE   17,600 0 0
Blackstone Group LP COM 09253U108 1,943 69,275 SH   SOLE   69,275 0 0
Broadcom Ltd. COM Y09827109 62 400 SH   SOLE   400 0 0
Charles Schwab COM 808513105 1,865 66,550 SH   SOLE   66,550 0 0
Cognizant Technology Solutions COM 192446102 2,010 32,050 SH   SOLE   32,050 0 0
Constellation Brands, Inc. COM 21036P108 1,692 11,200 SH   SOLE   11,200 0 0
Costco Wholesale Corporation COM 22160K105 1,765 11,200 SH   SOLE   11,200 0 0
Expedia Inc COM 30212P303 1,547 14,350 SH   SOLE   14,350 0 0
Exxon Mobil Corp. COM 30231G102 2,173 26,000 SH   SOLE   26,000 0 0
Fabrinet COM G3323L100 7,295 225,500 SH   DFND 1 0 225,500 0
Fabrinet COM G3323L100 605 18,700 SH   SOLE   18,700 0 0
Facebook, Inc. COM 30303M102 4,148 36,350 SH   SOLE   36,350 0 0
Fiserv, Inc. COM 337738108 2,749 26,800 SH   SOLE   26,800 0 0
Fomento Economico Mex-SP ADR ADR 344419106 193 2,000 SH   SOLE   2,000 0 0
Gilead Sciences, Inc. COM 375558103 1,293 14,075 SH   SOLE   14,075 0 0
Grupo Televisa S.A. ADR 40049J206 168 6,100 SH   SOLE   6,100 0 0
HDFC Bank Ltd. ADR ADR 40415F101 253 4,100 SH   SOLE   4,100 0 0
Home Depot, Inc. COM 437076102 3,569 26,745 SH   SOLE   26,745 0 0
ICON PLC COM G4705A100 68 900 SH   SOLE   900 0 0
Intercontinental Exchange, Inc COM 45866F104 2,669 11,350 SH   SOLE   11,350 0 0
Intuit COM 461202103 1,677 16,125 SH   SOLE   16,125 0 0
IShares MSCI Asia Ex-Japan Index ETF 464288182 579 10,600 SH   SOLE   10,600 0 0
JD.com ADR 47215P106 607 22,900 SH   SOLE   22,900 0 0
Johnson & Johnson COM 478160104 2,115 19,550 SH   SOLE   19,550 0 0
Kroger Company COM 501044101 1,946 50,875 SH   SOLE   50,875 0 0
Lennar Corp. COM 526057104 1,494 30,900 SH   SOLE   30,900 0 0
Lockheed Martin Corporation COM 539830109 1,501 6,775 SH   SOLE   6,775 0 0
Lowe's Companies COM 548661107 3,470 45,805 SH   SOLE   45,805 0 0
Market Vectors Vietnam ETF ETF 57060U761 682 48,700 SH   SOLE   48,700 0 0
Medtronic COM G5960L103 2,090 27,725 SH   SOLE   27,725 0 0
Mobileye NV COM N51488117 116 3,100 SH   SOLE   3,100 0 0
Nike, Inc. Class B COM 654106103 1,689 27,400 SH   SOLE   27,400 0 0
Northrop Grumman Corp COM 666807102 3,181 16,075 SH   SOLE   16,075 0 0
Palo Alto Networks, Inc. COM 697435105 1,892 11,600 SH   SOLE   11,600 0 0
Raytheon Company COM 755111507 3,532 28,800 SH   SOLE   28,800 0 0
Roper Technologies, Inc. COM 776696106 1,809 9,900 SH   SOLE   9,900 0 0
Salesforce.com, Inc. COM 79466L302 1,897 25,700 SH   SOLE   25,700 0 0
Taiwan Semiconductor ADR ADR 874039100 671 25,600 SH   SOLE   25,600 0 0
TAL Education Group ADR 874080104 283 5,700 SH   SOLE   5,700 0 0
Texas Instruments, Inc. COM 882508104 2,861 49,825 SH   SOLE   49,825 0 0
Visa, Inc. COM 92826C839 2,562 33,500 SH   SOLE   33,500 0 0
Wells Fargo Company COM 949746101 1,953 40,375 SH   SOLE   40,375 0 0