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
Ambev ADR 02319V103 442 76,683 SH   OTR   0 76,683 0
America Movil ADR 02364W105 199 9,702 SH   OTR   0 9,702 0
Anglogold Ashanti ADR 035128206 29 3,117 SH   OTR   0 3,117 0
Banco Santender Chile ADR 05965X109 96 4,438 SH   OTR   0 4,438 0
BHP Billiton ADR 05545E209 22,550 509,500 SH   OTR   0 509,500 0
Cemex SAB ADR 151290889 38 4,015 SH   OTR   0 4,015 0
Cemig SA ADR 204409601 31 7,462 SH   OTR   0 7,462 0
China Unicom ADR 16945R104 79 5,202 SH   OTR   0 5,202 0
China Yuchai ADR G21082105 233 11,788 SH   OTR   0 11,788 0
Chunghwa Tel ADR 17133Q502 108 3,356 SH   OTR   0 3,356 0
CIA Brasileira ADR 20440T201 389 13,039 SH   OTR   0 13,039 0
CIA Cervecerias ADR 204429104 97 4,663 SH   OTR   0 4,663 0
CIA de Minas ADR 204448104 90 8,926 SH   OTR   0 8,926 0
CIA Paranaense ADR 20441B407 342 32,593 SH   OTR   0 32,593 0
CIA Siderurgica ADR 20440W105 27 15,811 SH   OTR   0 15,811 0
CNOOC LTD ADR 126132109 24 169 SH   OTR   0 169 0
Coca Cola Femsa ADR 191241108 59 744 SH   OTR   0 744 0
Corpbanca SA ADR 21987A209 80 5,000 SH   OTR   0 5,000 0
CPFL Energia ADR 126153105 9 686 SH   OTR   0 686 0
Creditcorp LTD COM 62519Y108 131 934 SH   OTR   0 934 0
Ecopetrol SA ADR 279158109 108 7,108 SH   OTR   0 7,108 0
Embraer SA ADR 29082A107 63 2,049 SH   OTR   0 2,049 0
Empresa NAC ADR 29244T101 76 1,685 SH   OTR   0 1,685 0
Enersis SA ADR 29274F104 87 5,367 SH   OTR   0 5,367 0
Fomento Economento ADR 344419106 153 1,639 SH   OTR   0 1,639 0
Gerdau ADR 373737105 30 9,500 SH   OTR   0 9,500 0
Gold Fields ADR 38059T106 18 4,490 SH   OTR   0 4,490 0
Grupo Aeroportuario ADR 400506101 342 5,216 SH   OTR   0 5,216 0
Grupo Televisa ADR 40049J206 233 7,047 SH   OTR   0 7,047 0
Infosys Technologies ADR 456788108 42,141 1,201,294 SH   OTR   0 1,201,294 0
IPATH MSCI India ETF 06739F291 1,727 23,300 SH   OTR   0 23,300 0
ISHARES MSCI EM ETF 464287234 4 100 SH   OTR   0 100 0
KT Corp ADR 48268K101 92 7,023 SH   OTR   0 7,023 0
METHANEX CORP COM 59151K108 9,151 170,817 SH   OTR   0 170,817 0
Perfect World Co Spon ADR 71372U104 437 23,530 SH   OTR   0 23,530 0
Mobile Tel ADR 607409109 301 29,771 SH   OTR   0 29,771 0
PETROCHINA ADR 71646E100 56 505 SH   OTR   0 505 0
PETROLEO BRASILEIRO SA ADR 71654V101 307 50,474 SH   OTR   0 50,474 0
Philippine Long Dist ADR 718252604 150 2,406 SH   OTR   0 2,406 0
Quimica Y Minera ADR 833635105 88 4,806 SH   OTR   0 4,806 0
SK Telecom ADR 78440P108 476 17,477 SH   OTR   0 17,477 0
Southern Copper COM 84265V105 104 3,566 SH   OTR   0 3,566 0
Taiwan Semiconductor ADR 874039100 25 1,057 SH   OTR   0 1,057 0
Telefonica Brasil ADR 87936R106 59 3,869 SH   OTR   0 3,869 0
Telekomunik Indonesia ADR 715684106 126 2,884 SH   OTR   0 2,884 0
Teva Pharm ADR 881624209 40,970 657,619 SH   OTR   0 657,619 0
TIM Part ADR 88706P205 44 2,643 SH   OTR   0 2,643 0
Turkcell ADR 900111204 101 7,788 SH   OTR   0 7,788 0
Vanguard FTSE EM ETF 922042858 1,061 25,954 SH   OTR   0 25,954 0