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
Banco Santender Chile ADR 05965X109 81 4,438 SH   OTR   0 4,438 0
BHP Billiton ADR 05545E209 25,852 842,900 SH   OTR   0 842,900 0
Cemig SA ADR 204409601 13 7,462 SH   OTR   0 7,462 0
China Unicom ADR 16945R104 66 5,202 SH   OTR   0 5,202 0
China Yuchai ADR G21082105 156 12,626 SH   OTR   0 12,626 0
Chunghwa Tel ADR 17133Q502 101 3,356 SH   OTR   0 3,356 0
CIA Brasileira ADR 20440T201 137 10,938 SH   OTR   0 10,938 0
CIA Cervecerias ADR 204429104 103 4,663 SH   OTR   0 4,663 0
CIA de Minas ADR 204448104 53 8,926 SH   OTR   0 8,926 0
CIA Paranaense ADR 20441B407 27 3,284 SH   OTR   0 3,284 0
Coca Cola Femsa ADR 191241108 52 744 SH   OTR   0 744 0
Corpbanca SA ADR 21987A209 67 5,000 SH   OTR   0 5,000 0
CPFL Energia ADR 126153105 13 1,707 SH   OTR   0 1,707 0
Creditcorp LTD COM 62519Y108 819 7,707 SH   OTR   0 7,707 0
Embraer SA ADR 29082A107 52 2,049 SH   OTR   0 2,049 0
Empresa NAC ADR 29244T101 60 1,685 SH   OTR   0 1,685 0
Enersis SA ADR 29274F104 68 5,367 SH   OTR   0 5,367 0
Fomento Economento ADR 344419106 318 3,562 SH   OTR   0 3,562 0
Gerdau ADR 373737105 13 9,500 SH   OTR   0 9,500 0
Gold Fields ADR 38059T106 12 4,490 SH   OTR   0 4,490 0
Grupo Aeroportuario ADR 400506101 121 1,395 SH   OTR   0 1,395 0
Grupo Televisa ADR 40049J206 183 7,047 SH   OTR   0 7,047 0
Infosys Technologies ADR 456788108 45,845 2,401,522 SH   OTR   0 2,401,522 0
International Game Technolog COM G4863A108 29,021 1,893,065 SH   OTR   0 1,893,065 0
IPATH MSCI India ETF 06739F291 1,952 29,495 SH   OTR   0 29,495 0
ISHARES MSCI EM ETF 464287234 56 1,700 SH   OTR   0 1,700 0
KT Corp ADR 48268K101 92 7,023 SH   OTR   0 7,023 0
Mobile Tel ADR 607409109 36 5,038 SH   OTR   0 5,038 0
PETROCHINA ADR 71646E100 35 505 SH   OTR   0 505 0
PETROLEO BRASILEIRO SA ADR 71654V101 137 37,232 SH   OTR   0 37,232 0
Philippine Long Dist ADR 718252604 111 2,406 SH   OTR   0 2,406 0
Quimica Y Minera ADR 833635105 79 5,466 SH   OTR   0 5,466 0
SK Telecom ADR 78440P108 361 14,793 SH   OTR   0 14,793 0
Southern Copper COM 84265V105 95 3,566 SH   OTR   0 3,566 0
Taiwan Semiconductor ADR 874039100 22 1,057 SH   OTR   0 1,057 0
Telefonica Brasil ADR 87936R106 35 3,869 SH   OTR   0 3,869 0
Telekomunik Indonesia ADR 715684106 103 2,884 SH   OTR   0 2,884 0
Teva Pharm ADR 881624209 37,129 657,619 SH   OTR   0 657,619 0
TIM Part ADR 88706P205 25 2,643 SH   OTR   0 2,643 0
Turkcell ADR 900111204 68 7,788 SH   OTR   0 7,788 0
Vanguard FTSE EM ETF 922042858 1,767 53,414 SH   OTR   0 53,414 0
Ambev ADR 02319V103 359 73,334 SH   OTR   0 73,334 0
America Movil ADR 02364W105 161 9,702 SH   OTR   0 9,702 0
Anglogold Ashanti ADR 035128206 26 3,117 SH   OTR   0 3,117 0