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 111,389 642,603 SH   SOLE   642,603 0 0
51JOB INC SPONSORED ADS 316827104 222,733 2,950,105 SH   SOLE   2,950,105 0 0
ABBOTT LABS COM 002824100 217,938 2,591,406 SH   SOLE   2,591,406 0 0
ADOBE INC COM 00724F101 27 90 SH   SOLE   90 0 0
AIR PRODS & CHEMS INC COM 009158106 72 320 SH   SOLE   320 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 961,887 5,676,524 SH   SOLE   5,676,524 0 0
ALLSTATE CORP COM 020002101 311 3,058 SH   SOLE   3,058 0 0
ALPHABET INC CAP STK CL A 02079K305 401,809 371,084 SH   SOLE   371,084 0 0
AMAZON COM INC COM 023135106 257,181 135,814 SH   SOLE   135,814 0 0
AMBEV SA SPONSORED ADR 02319V103 617,757 132,281,838 SH   SOLE   132,281,838 0 0
AMPHENOL CORP NEW CL A 032095101 67 700 SH   SOLE   700 0 0
ANSYS INC COM 03662Q105 16 78 SH   SOLE   78 0 0
ANTHEM INC COM 036752103 226 800 SH   SOLE   800 0 0
APPLE INC COM 037833100 268,835 1,358,303 SH   SOLE   1,358,303 0 0
ASML HOLDING N V N Y REGISTRY SHS N07059210 121 582 SH   SOLE   582 0 0
AUTOHOME INC SP ADR RP CL A 05278C107 147,734 1,725,458 SH   SOLE   1,725,458 0 0
AUTOMATIC DATA PROCESSING IN COM 053015103 69 418 SH   SOLE   418 0 0
AVERY DENNISON CORP COM 053611109 69 600 SH   SOLE   600 0 0
BAIDU INC SPON ADR REP A 056752108 604,780 5,153,211 SH   SOLE   5,153,211 0 0
BANCO BILBAO VIZCAYA ARGENTA SPONSORED ADR 05946K101 193,583 34,817,139 SH   SOLE   34,817,139 0 0
BANCO BRADESCO S A SP ADR PFD NEW 059460303 346,805 35,316,223 SH   SOLE   35,316,223 0 0
BANCO MACRO SA SPON ADR B 05961W105 8,730 119,839 SH   SOLE   119,839 0 0
BANCO SANTANDER CHILE NEW SP ADR REP COM 05965X109 84,064 2,809,640 SH   SOLE   2,809,640 0 0
BANCO SANTANDER MEXICO S A SPONSORED ADS B 05969B103 78 10,152 SH   SOLE   10,152 0 0
BANCOLOMBIA S A SPON ADR PREF 05968L102 231,724 4,540,052 SH   SOLE   4,540,052 0 0
BOOKING HLDGS INC COM 09857L108 436,877 233,037 SH   SOLE   233,037 0 0
BORGWARNER INC COM 099724106 33 792 SH   SOLE   792 0 0
CABLE ONE INC COM 12685J105 8 7 SH   SOLE   7 0 0
CANADIAN NATL RY CO COM 136375102 597,488 6,460,727 SH   SOLE   6,460,727 0 0
CHECK POINT SOFTWARE TECH LT ORD M22465104 1,002,845 8,674,383 SH   SOLE   8,674,383 0 0
CHINA MOBILE LIMITED SPONSORED ADR 16941M109 450,459 9,946,104 SH   SOLE   9,946,104 0 0
CISCO SYS INC COM 17275R102 46 845 SH   SOLE   845 0 0
CNOOC LTD SPONSORED ADR 126132109 268,609 1,576,809 SH   SOLE   1,576,809 0 0
COCA COLA FEMSA S A B DE C V SPONSORD ADR REP 191241108 287 4,626 SH   SOLE   4,626 0 0
COGNEX CORP COM 192422103 118,607 2,471,995 SH   SOLE   2,471,995 0 0
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 137,153 2,163,638 SH   SOLE   2,163,638 0 0
COLGATE PALMOLIVE CO COM 194162103 188,789 2,634,143 SH   SOLE   2,634,143 0 0
COMPANHIA BRASILEIRA DE DIST SPN ADR PFD CL A 20440T201 115,021 4,698,576 SH   SOLE   4,698,576 0 0
CORE LABORATORIES N V COM N22717107 4,552 87,070 SH   SOLE   87,070 0 0
CREDICORP LTD COM G2519Y108 249,151 1,088,424 SH   SOLE   1,088,424 0 0
CTRIP COM INTL LTD SPONSORED ADS 22943F100 99,485 2,695,343 SH   SOLE   2,695,343 0 0
DANAHER CORPORATION COM 235851102 47 327 SH   SOLE   327 0 0
DEERE & CO COM 244199105 33 200 SH   SOLE   200 0 0
DIAGEO P L C SPON ADR NEW 25243Q205 178,218 1,034,224 SH   SOLE   1,034,224 0 0
DISNEY WALT CO COM DISNEY 254687106 206,127 1,476,132 SH   SOLE   1,476,132 0 0
EBAY INC COM 278642103 154,801 3,919,005 SH   SOLE   3,919,005 0 0
ECOLAB INC COM 278865100 79 400 SH   SOLE   400 0 0
ECOPETROL S A SPONSORED ADS 279158109 16,624 908,892 SH   SOLE   908,892 0 0
ELANCO ANIMAL HEALTH INC COM 28414H103 74 2,191 SH   SOLE   2,191 0 0
EMERSON ELEC CO COM 291011104 12 185 SH   SOLE   185 0 0
ENCANA CORP COM 292505104 37 7,239 SH   SOLE   7,239 0 0
ENERSYS COM 29275Y102 38 560 SH   SOLE   560 0 0
EPAM SYS INC COM 29414B104 246,298 1,422,864 SH   SOLE   1,422,864 0 0
EXPONENT INC COM 30214U102 10 175 SH   SOLE   175 0 0
EXXON MOBIL CORP COM 30231G102 204,735 2,671,738 SH   SOLE   2,671,738 0 0
FACEBOOK INC CL A 30303M102 193,292 1,001,509 SH   SOLE   1,001,509 0 0
FIRST REP BK SAN FRANCISCO C COM 33616C100 412,202 4,221,224 SH   SOLE   4,221,224 0 0
FISERV INC COM 337738108 72 790 SH   SOLE   790 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 549,558 5,680,187 SH   SOLE   5,680,187 0 0
GARTNER INC COM 366651107 83 513 SH   SOLE   513 0 0
GRIFOLS S A SP ADR REP B NVT 398438408 365,732 17,333,270 SH   SOLE   17,333,270 0 0
GRUPO AEROPORTUARIO DEL SURE SPON ADR SER B 40051E202 174,888 1,078,823 SH   SOLE   1,078,823 0 0
GRUPO FINANCIERO GALICIA S A SPONSORED ADR 399909100 6,958 195,989 SH   SOLE   195,989 0 0
GUIDEWIRE SOFTWARE INC COM 40171V100 38 374 SH   SOLE   374 0 0
HDFC BANK LTD SPONSORED ADS 40415F101 597,118 4,591,796 SH   SOLE   4,591,796 0 0
HEALTHCARE SVCS GRP INC COM 421906108 36 1,196 SH   SOLE   1,196 0 0
HEICO CORP NEW COM 422806109 47 348 SH   SOLE   348 0 0
HELMERICH & PAYNE INC COM 423452101 28 554 SH   SOLE   554 0 0
HENRY JACK & ASSOC INC COM 426281101 32 241 SH   SOLE   241 0 0
HSBC HLDGS PLC SPON ADR NEW 404280406 97,925 2,346,063 SH   SOLE   2,346,063 0 0
ICICI BK LTD ADR 45104G104 703,143 55,849,328 SH   SOLE   55,849,328 0 0
IDEXX LABS INC COM 45168D104 19 70 SH   SOLE   70 0 0
ILLINOIS TOOL WKS INC COM 452308109 121 800 SH   SOLE   800 0 0
ILLUMINA INC COM 452327109 177,877 483,165 SH   SOLE   483,165 0 0
IPG PHOTONICS CORP COM 44980X109 149,846 971,451 SH   SOLE   971,451 0 0
IQVIA HLDGS INC COM 46266C105 16 100 SH   SOLE   100 0 0
ISHARES TR EAFE GRWTH ETF 464288885 2,591 32,081 SH   SOLE   32,081 0 0
ISHARES TR MSCI INDIA ETF 46429B598 34,329 972,497 SH   SOLE   972,497 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 798,493 84,765,679 SH   SOLE   84,765,679 0 0
JD COM INC SPON ADR CL A 47215P106 75,041 2,477,424 SH   SOLE   2,477,424 0 0
JOHNSON & JOHNSON COM 478160104 111 800 SH   SOLE   800 0 0
JPMORGAN CHASE & CO COM 46625H100 72 641 SH   SOLE   641 0 0
KANSAS CITY SOUTHERN COM NEW 485170302 42 341 SH   SOLE   341 0 0
LINDE PLC SHS G5494J103 192,901 960,660 SH   SOLE   960,660 0 0
LOMA NEGRA CORP SPONSORED ADS 54150E104 3,267 279,268 SH   SOLE   279,268 0 0
MASTERCARD INC CL A 57636Q104 378,083 1,429,264 SH   SOLE   1,429,264 0 0
MCDONALDS CORP COM 580135101 81 390 SH   SOLE   390 0 0
MERCK & CO INC COM 58933Y105 74 880 SH   SOLE   880 0 0
METTLER TOLEDO INTERNATIONAL COM 592688105 25 30 SH   SOLE   30 0 0
MICROSOFT CORP COM 594918104 207,068 1,545,743 SH   SOLE   1,545,743 0 0
NETEASE INC SPONSORED ADR 64110W102 133,186 520,728 SH   SOLE   520,728 0 0
NEW ORIENTAL ED & TECH GRP I SPON ADR 647581107 134 1,389 SH   SOLE   1,389 0 0
NIKE INC CL B 654106103 273,839 3,261,932 SH   SOLE   3,261,932 0 0
NOBLE ENERGY INC COM 655044105 36 1,600 SH   SOLE   1,600 0 0
NVIDIA CORP COM 67066G104 207,222 1,261,780 SH   SOLE   1,261,780 0 0
PAYPAL HLDGS INC COM 70450Y103 736,044 6,430,583 SH   SOLE   6,430,583 0 0
PROCTER AND GAMBLE CO COM 742718109 154 1,406 SH   SOLE   1,406 0 0
PRUDENTIAL FINL INC COM 744320102 46 460 SH   SOLE   460 0 0
RED HAT INC COM 756577102 23 120 SH   SOLE   120 0 0
REGENERON PHARMACEUTICALS COM 75886F107 215,788 689,420 SH   SOLE   689,420 0 0
REINSURANCE GRP OF AMERICA I COM NEW 759351604 68 437 SH   SOLE   437 0 0
RESMED INC COM 761152107 82 672 SH   SOLE   672 0 0
RIO TINTO PLC SPONSORED ADR 767204100 94,942 1,522,967 SH   SOLE   1,522,967 0 0
ROLLINS INC COM 775711104 29 816 SH   SOLE   816 0 0
ROPER TECHNOLOGIES INC COM 776696106 585,277 1,597,982 SH   SOLE   1,597,982 0 0
ROYAL DUTCH SHELL PLC SPON ADR B 780259107 146,209 2,224,044 SH   SOLE   2,224,044 0 0
SALESFORCE COM INC COM 79466L302 20 130 SH   SOLE   130 0 0
SAP SE SPON ADR 803054204 1,096,688 8,016,725 SH   SOLE   8,016,725 0 0
SASOL LTD SPONSORED ADR 803866300 64,386 2,591,015 SH   SOLE   2,591,015 0 0
SCHLUMBERGER LTD COM 806857108 618,879 15,573,203 SH   SOLE   15,573,203 0 0
SENSATA TECHNOLOGIES HLDNG P SHS G8060N102 818 16,688 SH   SOLE   16,688 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 81 671 SH   SOLE   671 0 0
SVB FINL GROUP COM 78486Q101 143,093 637,128 SH   SOLE   637,128 0 0
SYNOPSYS INC COM 871607107 78 605 SH   SOLE   605 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100 951,381 24,288,508 SH   SOLE   24,288,508 0 0
TELECOM ARGENTINA S A SPON ADR REP B 879273209 2,152 121,765 SH   SOLE   121,765 0 0
TENARIS S A SPONSORED ADS 88031M109 187,610 7,130,759 SH   SOLE   7,130,759 0 0
TERADYNE INC COM 880770102 14 288 SH   SOLE   288 0 0
TEXAS INSTRS INC COM 882508104 13 110 SH   SOLE   110 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 18 60 SH   SOLE   60 0 0
TIFFANY & CO NEW COM 886547108 57 608 SH   SOLE   608 0 0
TRANSOCEAN LTD REG SHS H8817H100 1 218 SH   SOLE   218 0 0
ULTRAPAR PARTICIPACOES S A SP ADR REP COM 90400P101 529 100,880 SH   SOLE   100,880 0 0
UNILEVER PLC SPON ADR NEW 904767704 170,702 2,754,584 SH   SOLE   2,754,584 0 0
UNITEDHEALTH GROUP INC COM 91324P102 3,812 15,621 SH   SOLE   15,621 0 0
VANGUARD INTL EQUITY INDEX F ALLWRLD EX US 922042775 2,549 49,996 SH   SOLE   49,996 0 0
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 16 392 SH   SOLE   392 0 0
VERISK ANALYTICS INC COM 92345Y106 464,065 3,168,546 SH   SOLE   3,168,546 0 0
VERTEX PHARMACEUTICALS INC COM 92532F100 135,769 740,371 SH   SOLE   740,371 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 133,798 2,447,363 SH   SOLE   2,447,363 0 0
WATERS CORP COM 941848103 207,669 964,826 SH   SOLE   964,826 0 0
WEIBO CORP SPONSORED ADR 948596101 64,157 1,473,191 SH   SOLE   1,473,191 0 0
WORKDAY INC CL A 98138H101 29 140 SH   SOLE   140 0 0
YANDEX N V SHS CLASS A N97284108 657,930 17,313,957 SH   SOLE   17,313,957 0 0
ZOETIS INC CL A 98978V103 43 380 SH   SOLE   380 0 0