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
Ambev ADR 02319V103   502 76,683 SH   OTR   0 76,683 0
America Movil ADR 02364W105   244 9,702 SH   OTR   0 9,702 0
Anglogold Ashanti ADR 035128206   37 3,117 SH   OTR   0 3,117 0
AU Optronics ADR 002255107   30 7,122 SH   OTR   0 7,122 0
Banco Santender Brasil ADR 05967A107   18 2,823 SH   OTR   0 2,823 0
Banco Santender Chile ADR 05965X109   98 4,438 SH   OTR   0 4,438 0
BHP Billiton ADR 05545E209   28,293 509,500 SH   OTR   0 509,500 0
Cemex SAB ADR 151290889   52 4,015 SH   OTR   0 4,015 0
Cemig SA ADR 204409601   24 3,801 SH   OTR   0 3,801 0
China Unicom ADR 16945R104   78 5,202 SH   OTR   0 5,202 0
China Yuchai ADR G21082105   219 11,788 SH   OTR   0 11,788 0
Chunghwa Tel ADR 17133Q502   170 5,677 SH   OTR   0 5,677 0
CIA Brasileira ADR 20440T201   768 17,629 SH   OTR   0 17,629 0
CIA Cervecerias ADR 204429104   103 4,663 SH   OTR   0 4,663 0
CIA de Minas ADR 204448104   103 8,926 SH   OTR   0 8,926 0
CIA Paranaense ADR 20441B407   423 30,928 SH   OTR   0 30,928 0
CIA Siderurgica ADR 20440W105   15 4,201 SH   OTR   0 4,201 0
CNOOC LTD ADR 126132109   29 169 SH   OTR   0 169 0
Coca Cola Femsa ADR 191241108   75 744 SH   OTR   0 744 0
Corpbanca SA ADR 21987A209   96 5,000 SH   OTR   0 5,000 0
CPFL Energia ADR 126153105   11 686 SH   OTR   0 686 0
Credicorp COM G2519Y108   143 934 SH   OTR   0 934 0
Ecopetrol SA ADR 279158109   222 7,108 SH   OTR   0 7,108 0
Embraer SA ADR 29082A107   80 2,049 SH   OTR   0 2,049 0
Empresa NAC ADR 29244T101   74 1,685 SH   OTR   0 1,685 0
Enersis SA ADR 29274F104   85 5,367 SH   OTR   0 5,367 0
Fomento Economento ADR 344419106   150 1,639 SH   OTR   0 1,639 0
Gerdau ADR 373737105   6 1,224 SH   OTR   0 1,224 0
Gold Fields ADR 38059T106   18 4,490 SH   OTR   0 4,490 0
Grupo Aeroportuario ADR 400506101   472 6,995 SH   OTR   0 6,995 0
Grupo Televisa ADR 40049J206   239 7,047 SH   OTR   0 7,047 0
Harmony Gold ADR 413216300   20 9,449 SH   OTR   0 9,449 0
Infosys Technologies ADR 456788108   36,333 600,647 SH   OTR   0 600,647 0
IPATH MSCI India ETF 06739F291   1,818 25,900 SH   OTR   0 25,900 0
ISHARES MSCI EM ETF 464287234   383 9,236 SH   OTR   0 9,236 0
KT Corp ADR 48268K101   114 7,023 SH   OTR   0 7,023 0
METHANEX CORP COM 59151K108   11,411 170,817 SH   OTR   0 170,817 0
Perfect World Co Spon ADR 71372U104   463 23,530 SH   OTR   0 23,530 0
Mobile Tel ADR 607409109   509 34,030 SH   OTR   0 34,030 0
PETROCHINA ADR 71646E100   36 279 SH   OTR   0 279 0
PETROLEO BRASILEIRO SA ADR 71654V101   752 50,474 SH   OTR   0 50,474 0
Philippine Long Dist ADR 718252604   166 2,406 SH   OTR   0 2,406 0
Quimica Y Minera ADR 833635105   105 4,006 SH   OTR   0 4,006 0
SK Telecom ADR 78440P108   601 19,801 SH   OTR   0 19,801 0
Southern Copper COM 84265V105   106 3,566 SH   OTR   0 3,566 0
Taiwan Semiconductor ADR 874039100   21 1,057 SH   OTR   0 1,057 0
Telefonica Brasil ADR 87936R106   76 3,869 SH   OTR   0 3,869 0
Telekomunik Indonesia ADR 715684106   139 2,884 SH   OTR   0 2,884 0
Teva Pharm ADR 881624209   37,497 697,619 SH   OTR   0 697,619 0
TIM Part ADR 88706P205   69 2,643 SH   OTR   0 2,643 0
Turkcell ADR 900111204   102 7,788 SH   OTR   0 7,788 0
Vanguard FTSE EM ETF 922042858   23 544 SH   OTR   0 544 0