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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

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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
AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 187,885,866 8,946,946 SH SOLE 5,623,967 0 3,322,979
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 38,418,259 389,519 SH SOLE 389,519 0 0
GRUPO AEROPORTUARIO CTR NORT SPON ADR 400506101 44,552,584 187,835 SH SOLE 187,835 0 0
HDFC BANK LTD ADR REPS 3 SHS 40415F101 179,799,213 5,263,443 SH SOLE 3,047,189 0 2,216,254
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 71,915,045 9,797,690 SH SOLE 5,560,108 0 4,237,582
MERCADOLIBRE INC COM 58733R102 186,922,483 79,986 SH SOLE 58,415 0 21,571
P T TELEKOMUNIKASI INDONESIA SPONSORED ADR 715684106 11,180,981 594,101 SH SOLE 594,101 0 0
S&P GLOBAL INC COM 78409V104 2,740,664 5,631 SH SOLE 5,631 0 0