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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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 Company COM 88579Y101 267 1,605 SH   SOLE   1,605 0 0
AT&T Corp. COM 00206R102 285 7,270 SH   SOLE   7,270 0 0
Alphabet Inc. Class A COM 38259P508 246 323 SH   SOLE   323 0 0
Alphabet Inc. Class C COM 02079K107 524 703 SH   SOLE   703 0 0
Apple Inc. COM 037833100 538 4,937 SH   SOLE   4,937 0 0
Automatic Data Processing COM 053015103 240 2,670 SH   SOLE   2,670 0 0
Cardinal Health Inc. COM 14149Y108 258 3,150 SH   SOLE   3,150 0 0
Celgene Corp COM 151020104 223 2,225 SH   SOLE   2,225 0 0
Delta Air Lines Inc. COM 247361702 306 6,280 SH   SOLE   6,280 0 0
Fedex Corp. COM 31428X106 412 2,535 SH   SOLE   2,535 0 0
General Electric COM 369604103 757 23,815 SH   SOLE   23,815 0 0
Gilead Sciences COM 375558103 461 5,015 SH   SOLE   5,015 0 0
HCA Holdings Inc. COM 40412C101 293 3,750 SH   SOLE   3,750 0 0
Home Depot COM 437076102 314 2,350 SH   SOLE   2,350 0 0
J.P. Morgan COM 46625H100 416 7,030 SH   SOLE   7,030 0 0
Mastercard Inc. - Class A COM 57636Q104 557 5,895 SH   SOLE   5,895 0 0
Mohawk Industries COM 608190104 411 2,155 SH   SOLE   2,155 0 0
Skyworks Solutions Inc. COM 83088M102 309 3,965 SH   SOLE   3,965 0 0
Southwest Airlines COM 844741108 284 6,330 SH   SOLE   6,330 0 0
Starbucks Corp COM 855244109 426 7,140 SH   SOLE   7,140 0 0
Stryker Corp COM 863667101 231 2,150 SH   SOLE   2,150 0 0
T-Mobile COM 872590104 552 14,400 SH   SOLE   14,400 0 0
TJX Companies Inc COM 872540109 298 3,800 SH   SOLE   3,800 0 0
Ulta Salon Cosmetics & Fragr. COM 90384S303 354 1,825 SH   SOLE   1,825 0 0
Vail Resorts Inc COM 91879Q109 595 4,450 SH   SOLE   4,450 0 0
Visa Inc COM 92826C839 672 8,785 SH   SOLE   8,785 0 0
Vulcan Materials COM 929160109 263 2,495 SH   SOLE   2,495 0 0
Walt Disney COM 254687106 528 5,315 SH   SOLE   5,315 0 0
Alibaba ADR 01609W102 214 2,705 SH   SOLE   2,705 0 0
China Lodging Group ADR 16949N109 207 5,425 SH   SOLE   5,425 0 0
EHI Car Services ADR ADR 26853A100 162 12,965 SH   SOLE   12,965 0 0
TAL Education Group ADR 874080104 240 4,835 SH   SOLE   4,835 0 0
Tencent Holdings LTD ADR 88032Q109 202 9,890 SH   SOLE   9,890 0 0
Trina Solar LTD-SPON ADR ADR 89628E104 170 17,150 SH   SOLE   17,150 0 0
Novo-Nordisk ADR 670100205 4,764 87,904 SH   SOLE   86,629 0 1,275
Bayer AG ADR 072730302 4,416 37,643 SH   SOLE   37,108 0 535
SAP AG ADR 803054204 4,506 56,033 SH   SOLE   55,143 0 890
Siemens AG_Spons ADR ADR 826197501 4,115 38,890 SH   SOLE   38,260 0 630
CK Hutchison Holdings ADR ADR 12562Y100 3,212 246,539 SH   SOLE   242,836 0 3,703
Accenture PLC ADR G1151C101 6,565 56,889 SH   SOLE   56,119 0 770
Allergan PLC ADR G0177J108 4,279 15,966 SH   SOLE   15,736 0 230
Icon PLC ADR G4705A100 4,930 65,641 SH   SOLE   64,716 0 925
RyanAir Holdings PLC ADR 783513203 4,825 56,227 SH   SOLE   55,405 0 822
East Japan Railway - UNSP ADR ADR 273202101 1,830 127,865 SH   SOLE   125,825 0 2,040
Japan Airlines CO-UNP ADR ADR 471038109 4,067 221,170 SH   SOLE   217,610 0 3,560
Japan Tobacco Inc-UNSPON ADR ADR 471105205 3,993 191,400 SH   SOLE   188,300 0 3,100
KDDI Corp - Unsponsored ADR ADR 48667L106 2,090 156,650 SH   SOLE   154,240 0 2,410
Nippon Telegraph & Telephone A ADR 654624105 4,579 105,890 SH   SOLE   104,285 0 1,605
Sony Corp. ADR 835699307 2,272 88,335 SH   SOLE   86,910 0 1,425
Toyota Motor Corp. ADR 892331307 1,906 17,930 SH   SOLE   17,640 0 290
Cemex ADR 151290889 86 11,845 SH   SOLE   11,845 0 0
Fomento Economico Mexicano ADR 344419106 205 2,125 SH   SOLE   2,125 0 0
Kimberly-Clark De Mexico-ADR ADR 494386204 166 13,800 SH   SOLE   13,800 0 0
Walmart de Mexico ADR ADR 93114W107 2,253 95,315 SH   SOLE   94,445 0 870
ASML Holdings ADR N07059210 204 2,030 SH   SOLE   2,030 0 0
Chicago Bridge & Iron ADR 167250109 3,473 94,904 SH   SOLE   93,664 0 1,240
ING Groep N.V. ADR 456837103 4,124 345,654 SH   SOLE   339,779 0 5,875
Koninklijke Ahold Spon ADR ADR 500467105 5,532 246,516 SH   SOLE   243,011 0 3,505
LyondellBasell ADR N53745100 4,579 53,504 SH   SOLE   52,789 0 715
NXP Semiconductors ADR N6596X109 4,634 57,164 SH   SOLE   56,299 0 865
Yandex ADR N97284108 173 11,260 SH   SOLE   11,260 0 0
Broadcom LTD ADR Y09827109 6,881 44,535 SH   SOLE   43,900 0 635
Korea Electric Power Corp. ADR 500631106 209 8,100 SH   SOLE   8,100 0 0
Chubb Corp ADR H1467J104 3,956 33,200 SH   SOLE   32,675 0 525
Nestle SA ADR 641069406 2,126 28,489 SH   SOLE   28,085 0 404
Novartis AG ADR 66987V109 1,524 21,042 SH   SOLE   20,622 0 420
Roche Holdings ADR 771195104 405 13,234 SH   SOLE   13,234 0 0
TE Connectivity ADR H84989104 4,235 68,392 SH   SOLE   67,592 0 800
Arm Holdings PLC - SPons ADR ADR 042068106 582 13,315 SH   SOLE   12,750 0 565
BP PLC-Spon ADR ADR 055622104 2,472 81,918 SH   SOLE   80,538 0 1,380
Carnival PLC ADR 14365C103 2,571 47,350 SH   SOLE   46,695 0 655
Delphi Automotive PLC ADR G27823106 5,295 70,582 SH   SOLE   69,377 0 1,205
National Grid Transco PLC ADR 636274300 1,894 26,525 SH   SOLE   26,095 0 430
Randgold Resources LTD-ADR ADR 752344309 2,063 22,715 SH   SOLE   22,370 0 345
Vodafone Group ADR 92857W308 4,100 127,919 SH   SOLE   125,904 0 2,015
Telekomunik Indonesia SP ADR ADR 715684106 955 18,790 SH   SOLE   18,790 0 0
Anglogold Ashanti ADR 035128206 170 12,440 SH   SOLE   12,440 0 0
Naspers LTD-N SHS SPON ADR ADR 631512100 191 13,590 SH   SOLE   13,590 0 0