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
AFFILIATED MANAGERS GROUP INC COM 008252108 7,956 54,757 SH   SOLE   54,757 0 0
Accenture Plc-Cl A COM G1151C101 603 5,150 SH   SOLE   5,150 0 0
Achaogen, Inc. COM 004449104 215 16,500 SH   SOLE   16,500 0 0
Alibaba Group COM 01609w102 4,118 46,900 SH   SOLE   46,100 0 800
Allergan PLC COM G0177J108 2,542 12,105 SH   SOLE   11,705 0 400
Alliance Data Systems COM 018581108 3,079 13,475 SH   SOLE   13,275 0 200
Alphabet Inc-CL A COM 02079K305 17,656 22,280 SH   SOLE   21,950 0 330
Alphabet Inc-CL C COM 02079K107 17,906 23,200 SH   SOLE   22,820 0 380
Anadarko Petroleum Corp COM 032511107 8,253 118,350 SH   SOLE   115,650 0 2,700
Anheuser-Busch Inbev SPN COM 03524A108 495 4,697 SH   SOLE   4,697 0 0
Apache Corp COM 037411105 2,352 37,050 SH   SOLE   36,950 0 100
Apple Inc COM 037833100 7,361 63,558 SH   SOLE   62,358 0 1,200
Applied Materials COM 038222105 1,120 34,700 SH   SOLE   33,700 0 1,000
BASF SE ADR COM 055262505 324 3,500 SH   SOLE   3,500 0 0
Blackstone Group LP COM 09253U108 1,033 38,225 SH   SOLE   36,625 0 1,600
Celgene Corp COM 151020104 880 7,600 SH   SOLE   7,300 0 300
ChevronTexaco Corp COM 166764100 203 1,726 SH   SOLE   1,726 0 0
Cognizant Technology Solutions COM 192446102 25,313 451,776 SH   SOLE   444,676 0 7,100
Compass Group Plc-ADS COM 20449X302 423 22,657 SH   SOLE   22,657 0 0
Deutsche Post AG COM 25157y202 373 11,400 SH   SOLE   11,400 0 0
Deutsche Telekom AG COM 251566105 598 35,000 SH   SOLE   35,000 0 0
Diageo PLC ADR COM 25243Q205 582 5,600 SH   SOLE   5,600 0 0
Direxion Small Cap Bear 3x COM 25490k521 198 10,000 SH   SOLE   10,000 0 0
EOG Resources COM 26875P101 455 4,500 SH   SOLE   4,500 0 0
Epam Systems Inc COM 29414B104 28,107 437,062 SH   SOLE   432,862 0 4,200
Essilor Intl SA ADR COM 297284200 536 9,484 SH   SOLE   9,484 0 0
Exxon Mobil Corp COM 30231G102 7,248 80,298 SH   SOLE   79,298 0 1,000
Facebook Inc Cl A COM 30303M102 32,170 279,620 SH   SOLE   276,865 0 2,755
Fresenius Medical Care A COM 358029106 713 16,900 SH   SOLE   16,900 0 0
Goldman Sachs Group COM 38141G104 718 3,000 SH   SOLE   3,000 0 0
Grupo Televisa SA COM 40049J206 236 11,290 SH   SOLE   11,290 0 0
Heineken NV-ADR COM 423012301 498 13,300 SH   SOLE   13,300 0 0
Henkel AG and CO. KGAA. COM 42550U208 309 2,600 SH   SOLE   2,600 0 0
Home Depot Inc. COM 437076102 22,694 169,258 SH   SOLE   167,008 0 2,250
Honeywell Inc. COM 438516106 639 5,512 SH   SOLE   5,512 0 0
Johnson & Johnson COM 478160104 4,117 35,731 SH   SOLE   35,731 0 0
Kimberly Clark Corp COM 494368103 2,787 24,423 SH   SOLE   24,423 0 0
LVMH Moet Hennessy -ADR COM 502441306 502 13,200 SH   SOLE   13,200 0 0
Lilly Eli & Co. COM 532457108 222 3,019 SH   SOLE   3,019 0 0
Lowes Companies Inc. COM 548661107 621 8,725 SH   SOLE   8,025 0 700
Luxoft Holding Inc COM G57279104 21,470 382,020 SH   SOLE   377,420 0 4,600
Luxottica Group ADS COM 55068R202 612 11,400 SH   SOLE   11,400 0 0
Mastercard Inc. COM 57636Q104 15,247 147,675 SH   SOLE   143,725 0 3,950
Medidata Solutions Inc COM 58471A105 467 9,400 SH   SOLE   8,600 0 800
Merck & Co. COM 589331107 403 6,850 SH   SOLE   6,850 0 0
Microsoft Corporation COM 594918104 26,524 426,840 SH   SOLE   422,640 0 4,200
Millicom International Cellula COM SE0001174 10,130 236,945 SH   SOLE   236,945 0 0
Millicom International Cellula COM l6388f110 42,101 994,118 SH   SOLE   994,118 0 0
NQ Mobile Inc COM 64118U108 1,011 314,000 SH   SOLE   314,000 0 0
Nestle SA ADR COM 641069406 663 9,235 SH   SOLE   9,235 0 0
Netease, Inc COM 64110W102 717 3,330 SH   SOLE   3,330 0 0
Nidec Corp ADR COM 654090109 956 44,600 SH   SOLE   44,600 0 0
Nintendo Co. Ltd. COM 654445303 509 19,600 SH   SOLE   19,600 0 0
Noble Energy Inc COM 655044105 705 18,525 SH   SOLE   18,525 0 0
Novartis Ag-Adr COM 66987V109 674 9,253 SH   SOLE   9,253 0 0
Novo Nordisk A/S Adr COM 670100205 387 10,800 SH   SOLE   10,800 0 0
Oasis Petroleum Inc. COM 674215108 783 51,700 SH   SOLE   49,700 0 2,000
Olympus Corporation COM 68163W109 404 11,700 SH   SOLE   11,700 0 0
PURE CYCLE CORP COM 746228303 961 174,733 SH   SOLE   174,733 0 0
Procter & Gamble Co COM 742718109 737 8,766 SH   SOLE   8,766 0 0
Prudential PLC COM 74435K204 597 15,000 SH   SOLE   15,000 0 0
Radcom Inc COM m81865111 249 14,000 SH   SOLE   14,000 0 0
Reckitt Benckiser ADR COM 756255204 496 29,500 SH   SOLE   29,500 0 0
Roche Holdings Ltd Sponsored A COM 771195104 434 15,200 SH   SOLE   15,200 0 0
Royal Caribbean Cruises COM V7780T103 308 3,750 SH   SOLE   3,750 0 0
Royal Dutch Shell Plc-Adr COM 780259206 381 7,000 SH   SOLE   7,000 0 0
SAP SE COM 803054204 589 6,810 SH   SOLE   6,810 0 0
Shire Plc COM 82481R106 613 3,600 SH   SOLE   3,600 0 0
Silicon Motion COM 82706C108 242 5,700 SH   SOLE   5,700 0 0
Symantec Corp COM 871503108 11,660 488,050 SH   SOLE   480,250 0 7,800
Syngenta AG ADR COM 87160A100 490 6,200 SH   SOLE   6,200 0 0
Team Health Holdings Inc COM 87817A107 467 10,750 SH   SOLE   10,750 0 0
Tencent Holdings Ltd. COM 88032Q109 727 30,000 SH   SOLE   30,000 0 0
Teva Pharmaceutical Inds Adr COM 881624209 330 9,090 SH   SOLE   9,090 0 0
The Priceline Group Inc. COM 741503403 31,643 21,584 SH   SOLE   21,329 0 255
Twitter COM 90184L102 222 13,600 SH   SOLE   13,600 0 0
UltraShort S&P500 ProShares COM 74347R883 151 10,000 SH   SOLE   10,000 0 0
Unilever N.V. COM 904784709 682 16,600 SH   SOLE   16,600 0 0
United Healthcare Corp. COM 91324P102 3,438 21,485 SH   SOLE   21,025 0 460
Virtusa Corp COM 92827P102 3,102 123,500 SH   SOLE   121,500 0 2,000
Visa Inc. COM 92826C839 14,337 183,765 SH   SOLE   180,665 0 3,100
Vodafone Group PLC ADS COM 92857W308 344 14,089 SH   SOLE   14,089 0 0
WPP plc ADS COM 92937A102 487 4,400 SH   SOLE   4,400 0 0
Wal-mart de Mexico SAB COM 93114W107 327 18,300 SH   SOLE   18,300 0 0