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

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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
ENCANA CORP COM 292505104 91,883 4,297,599 SH   SOLE 4,229,054 0 68,545
HSBC HLDGS PLC SPON ADR NEW 404280406 90,091 1,772,400 SH   SOLE 1,747,225 0 25,175
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 41,392 3,147,683 SH   SOLE 3,103,756 0 43,927
POSCO SPONSORED ADR 693483109 9,967 143,599 SH   SOLE 125,193 0 18,406
SK TELECOM LTD SPONSORED ADR 78440P108 20,658 915,267 SH   SOLE 867,843 0 47,424