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
ABB LTD SPONSORED ADR 000375204 1,535 70,850 SH   SOLE   70,850 0 0
AIXTRON AKTIENGESELLSCHAFT SPONSORED ADR 009606104 1,167 69,544 SH   SOLE   69,544 0 0
COMPANHIA DE BEBIDAS DAS AME SPONSORED ADR 20441W203 2,184 58,463 SH   SOLE   58,463 0 0
AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 3,853 177,151 SH   SOLE   177,151 0 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 3,330 36,896 SH   SOLE   36,896 0 0
ARM HLDGS PLC SPONSORED ADR 042068106 859 23,753 SH   SOLE   23,753 0 0
ASML HOLDING N V N Y REGISTRY SHS N07059210 26,802 338,839 SH   SOLE   248,747 0 90,092
BANCO BRADESCO S A SP ADR PFD NEW 059460303 4,812 369,905 SH   SOLE   369,905 0 0
BANCOLOMBIA S A SPON ADR PREF 05968L102 2,178 38,549 SH   SOLE   38,549 0 0
BANK OF NOVA SCOTIA HALIFAX COM 064149107 37,002 691,150 SH   SOLE   510,154 0 180,996
BARCLAYS PLC ADR 06738E204 1,206 70,465 SH   SOLE   70,465 0 0
BANCO DE CHILE SPONSORED ADR 059520106 1,189 13,655 SH   SOLE   13,655 0 0
BHP BILLITON LTD SPONSORED ADR 088606108 1,932 33,505 SH   SOLE   33,505 0 0
CAMECO CORP COM 13321L108 40,595 1,964,891 SH   SOLE   1,480,553 0 484,338
CANADIAN NATL RY CO COM 136375102 3,271 33,627 SH   SOLE   33,627 0 0
CANON INC ADR 138006309 1,143 34,773 SH   SOLE   34,773 0 0
CARNIVAL PLC ADR 14365C103 896 25,562 SH   SOLE   25,562 0 0
COMPANHIA BRASILEIRA DE DIST SPN ADR PFD CL A 20440T201 2,248 49,459 SH   SOLE   49,459 0 0
CEMEX SAB DE CV SPON ADR NEW 151290889 3,127 295,581 SH   SOLE   295,581 0 0
CHINA UNICOM (HONG KONG) LTD SPONSORED ADR 16945R104 2,005 152,602 SH   SOLE   152,602 0 0
COMPANIA CERVECERIAS UNIDAS SPONSORED ADR 204429104 3,068 107,220 SH   SOLE   107,220 0 0
COPA HOLDINGS SA CL A P31076105 1,098 8,375 SH   SOLE   8,375 0 0
CREDICORP LTD COM G2519Y108 3,029 23,669 SH   SOLE   23,669 0 0
CREDIT SUISSE GROUP SPONSORED ADR 225401108 1,890 71,431 SH   SOLE   71,431 0 0
DIAGEO P L C SPON ADR NEW 25243Q205 1,278 11,117 SH   SOLE   11,117 0 0
DR REDDYS LABS LTD ADR 256135203 3,525 93,199 SH   SOLE   30,952 0 62,247
EMPRESA NACIONAL DE ELCTRCID SPONSORED ADR 29244T101 2,976 67,370 SH   SOLE   67,370 0 0
GRUPO TELEVISA SA SPON ADR REP ORD 40049J206 7,505 302,151 SH   SOLE   302,151 0 0
GRIFOLS S A SPONSORED ADR 398438408 1,403 49,256 SH   SOLE   49,256 0 0
HDFC BANK LTD ADR REPS 3 SHS 40415F101 50,078 1,381,855 SH   SOLE   1,096,320 0 285,535
HSBC HLDGS PLC SPON ADR NEW 404280406 61,259 1,180,326 SH   SOLE   950,796 0 229,530
ICICI BK LTD ADR 45104G104 2,285 59,738 SH   SOLE   59,738 0 0
ISHARES TR MSCI EAFE IDX 464287465 2,292 40,002 SH   SOLE   40,002 0 0
ISHARES TR MSCI EMERG MKT 464287234 603 15,624 SH   SOLE   15,624 0 0
ITAU UNIBANCO BANCO MULTIPL SA SPONS ADR 465562106 43,928 3,399,969 SH   SOLE   2,741,287 0 658,682
MANULIFE FINL CORP COM 56501R106 45,736 2,854,957 SH   SOLE   2,109,712 0 745,245
NICE SYS LTD SPONSORED ADR 653656108 53,485 1,449,856 SH   SOLE   1,197,266 0 252,590
NOVARTIS A G SPONSORED ADR 66987V109 799 11,301 SH   SOLE   11,301 0 0
NOVO-NORDISK A S ADR 670100205 1,218 7,861 SH   SOLE   7,861 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 3,054 227,721 SH   SOLE   227,721 0 0
PETROLEO BRASILEIRO SA PETROBR SP ADR NON VTG 71654V101 2,000 136,415 SH   SOLE   136,415 0 0
POTASH CORP SASK INC COM 73755L107 1,214 31,833 SH   SOLE   31,833 0 0
PRUDENTIAL PLC ADR 74435K204 1,613 49,292 SH   SOLE   49,292 0 0
SAP AG SPON ADR 803054204 1,146 15,742 SH   SOLE   15,742 0 0
STERLITE INDS INDIA LTD ADS 859737207 1,268 217,098 SH   SOLE   217,098 0 0
SUNCOR ENERGY INC COM 867224107 2,238 75,878 SH   SOLE   75,878 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 2,345 128,006 SH   SOLE   128,006 0 0
TELEFONICA BRASIL SA SPONSORED ADR 87936R106 1,775 77,785 SH   SOLE   77,785 0 0
TOYOTA MOTOR CORP SP ADR REP2COM 892331307 2,899 24,030 SH   SOLE   24,030 0 0
VALE S A ADR 91912E105 980 74,524 SH   SOLE   74,524 0 0
VALE S A ADR REPSTG PFD 91912E204 2,606 214,337 SH   SOLE   214,337 0 0
WISDOMTREE TRUST JAPN HEDGE EQT 97717W851 919 20,148 SH   SOLE   20,148 0 0