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
3M Company COM 88579Y101 248 1,295 SH   SOLE   1,295 0 0
Accenture PLC COM G1151C101 2,858 23,844 SH   SOLE   23,569 0 275
Alphabet Inc. Class A COM 02079K305 242 286 SH   SOLE   286 0 0
Alphabet Inc. Class C COM 02079K107 549 662 SH   SOLE   662 0 0
Amazon.com COM 023135106 284 320 SH   SOLE   320 0 0
Amgen Inc. COM 031162100 279 1,700 SH   SOLE   1,700 0 0
Apple Inc. COM 037833100 600 4,177 SH   SOLE   4,177 0 0
Automatic Data Processing COM 053015103 241 2,355 SH   SOLE   2,355 0 0
Celgene Corp COM 151020104 243 1,955 SH   SOLE   1,955 0 0
Delta Air Lines Inc. COM 247361702 226 4,910 SH   SOLE   4,910 0 0
EOG Resources Inc. COM 26875P101 498 5,110 SH   SOLE   5,110 0 0
General Electric COM 369604103 240 8,040 SH   SOLE   8,040 0 0
HCA Holdings Inc. COM 40412C101 287 3,225 SH   SOLE   3,225 0 0
J.P. Morgan COM 46625H100 566 6,445 SH   SOLE   6,445 0 0
Lockheed Martin Corp COM 539830109 318 1,188 SH   SOLE   1,188 0 0
Marsh & McLennan Cos COM 571748102 281 3,805 SH   SOLE   3,805 0 0
Mastercard Inc. - Class A COM 57636Q104 337 2,995 SH   SOLE   2,995 0 0
Nvidia Corp COM 67066G104 404 3,710 SH   SOLE   3,710 0 0
Pioneer Natural Resources CO COM 723787107 213 1,145 SH   SOLE   1,145 0 0
Stryker Corp COM 863667101 247 1,875 SH   SOLE   1,875 0 0
T-Mobile COM 872590104 815 12,615 SH   SOLE   12,615 0 0
US Silica Holdings Inc. COM 90346E103 298 6,215 SH   SOLE   6,215 0 0
Ulta Salon Cosmetics & Fragr. COM 90384S303 371 1,300 SH   SOLE   1,300 0 0
Vail Resorts Inc COM 91879Q109 776 4,045 SH   SOLE   4,045 0 0
Visa Inc COM 92826C839 596 6,710 SH   SOLE   6,710 0 0
Banco Santander Brasil - ADS ADR 05967A107 258 29,265 SH   SOLE   29,265 0 0
Cemig SA ADR 204409601 258 78,350 SH   SOLE   78,350 0 0
Cosan Limited ADR G25343107 147 17,270 SH   SOLE   17,270 0 0
IShares Inc. MSCI Brazil ADR 464286400 450 12,025 SH   SOLE   12,025 0 0
Itau Unibanco Mult - ADR ADR 465562106 267 22,155 SH   SOLE   22,155 0 0
Telefonica Brasil-ADR ADR 87936R106 169 11,352 SH   SOLE   11,352 0 0
Vale SA-SP ADR ADR 91912E105 286 30,056 SH   SOLE   30,056 0 0
Alibaba ADR 01609W102 294 2,730 SH   SOLE   2,730 0 0
CTRIP.COM International - ADR ADR 22943F100 292 5,950 SH   SOLE   5,950 0 0
China Eastern Airlines-ADS ADR 16937R104 280 9,780 SH   SOLE   9,780 0 0
China Lodging Group ADR 16949N109 312 5,029 SH   SOLE   5,029 0 0
China Petroleum & Chem ADR 16941R108 271 3,325 SH   SOLE   3,325 0 0
JD.COM INC-ADR ADR 47215P106 289 9,300 SH   SOLE   9,300 0 0
Momo Inc. ADR 60879B107 274 8,030 SH   SOLE   8,030 0 0
Netease Inc - ADR ADR 64110W102 1,187 4,180 SH   SOLE   4,145 0 35
Sina Corp ADR G81477104 283 3,930 SH   SOLE   3,930 0 0
TAL Education Group ADR 874080104 416 3,899 SH   SOLE   3,899 0 0
Tencent Holdings LTD ADR 88032Q109 556 19,267 SH   SOLE   19,267 0 0
Weibo Corp - SPON ADR ADR 948596101 282 5,412 SH   SOLE   5,412 0 0
Yirendai LTD - ADR ADR 98585L100 245 9,745 SH   SOLE   9,745 0 0
Infineon Technologies - ADR ADR 45662N103 1,270 62,020 SH   SOLE   61,195 0 825
SAP AG ADR 803054204 3,067 31,245 SH   SOLE   30,925 0 320
Siemens AG ADR 826197501 2,579 37,645 SH   SOLE   37,185 0 460
AIA Group LTD-SP ADR ADR 001317205 2,078 81,875 SH   SOLE   80,970 0 905
Melco Resorts & Entertainment ADR 585464100 305 16,455 SH   SOLE   16,455 0 0
Allergan PLC ADR G0177J108 1,439 6,021 SH   SOLE   5,975 0 46
CRH PLC-Sponsored ADR ADR 12626K203 2,637 74,965 SH   SOLE   74,180 0 785
Icon PLC ADR G4705A100 2,343 29,385 SH   SOLE   29,055 0 330
Jazz Pharmaceuticals PLC ADR G50871105 1,116 7,690 SH   SOLE   7,600 0 90
Fanuc CORP-UNSP ADR ADR 307305102 2,021 98,345 SH   SOLE   97,090 0 1,255
Honda Motor Company ADR 438128308 1,910 63,130 SH   SOLE   62,315 0 815
IShares Inc. MSCI Japan ADR 46434G822 2,459 47,757 SH   SOLE   47,272 0 485
Mitsubishi UFJ Financial ADR 606822104 2,315 365,095 SH   SOLE   361,265 0 3,830
Orix Corporation ADR 686330101 1,833 24,655 SH   SOLE   24,335 0 320
Softbank Corp. ADR 83404D109 1,949 54,895 SH   SOLE   54,195 0 700
Sony Corp. ADR 835699307 1,905 56,482 SH   SOLE   55,757 0 725
Sumitomo Mitsui Financial Grou ADR 86562M209 837 115,425 SH   SOLE   113,955 0 1,470
Cemex ADR 151290889 1,239 136,583 SH   SOLE   135,378 0 1,205
ING Groep N.V. ADR 456837103 2,715 179,913 SH   SOLE   177,873 0 2,040
Koninklijke Ahold Delhaize NV ADR 500467501 2,081 97,072 SH   SOLE   95,892 0 1,180
NXP Semiconductors ADR N6596X109 2,983 28,823 SH   SOLE   28,513 0 310
Royal Dutch Shell PLC - A Shar ADR 780259206 1,858 35,245 SH   SOLE   34,795 0 450
Broadcom LTD ADR Y09827109 2,401 10,967 SH   SOLE   10,862 0 105
Flex LTD ADR Y2573F102 2,878 171,300 SH   SOLE   169,495 0 1,805
KB Financial Group Inc. ADR ADR 48241A105 1,160 26,373 SH   SOLE   26,153 0 220
Posco ADR ADR 693483109 283 4,388 SH   SOLE   4,388 0 0
Banco Santander ADR ADR 05964H105 1,199 197,465 SH   SOLE   195,395 0 2,070
Chubb Corp ADR H1467J104 2,252 16,525 SH   SOLE   16,335 0 190
Nestle SA ADR 641069406 261 3,400 SH   SOLE   3,400 0 0
BP PLC-Spon ADR ADR 055622104 969 28,081 SH   SOLE   27,716 0 365
Delphi Automotive PLC ADR G27823106 2,166 26,910 SH   SOLE   26,570 0 340
Diageo PLC ADR 25243Q205 1,820 15,745 SH   SOLE   15,540 0 205
Rio Tinto LTD ADR 767204100 2,514 61,795 SH   SOLE   61,075 0 720
Shire PLC-ADR ADR 82481R106 820 4,704 SH   SOLE   4,642 0 62
Smith & Nephew PLC-SPON ADR ADR 83175M205 786 25,425 SH   SOLE   25,090 0 335
Naspers LTD-N SHS SPON ADR ADR 631512100 302 17,417 SH   SOLE   17,417 0 0