Holding Performance

1%-0% 2%-1% 3%-2% 4%-3% 5%-4% 6%-5%

Top 25 Holdings	Portfolio Weight %	Shares Owned	Shares Change	Sector	Mkt Cap (Mil)	Total Ret YTD (Daily)
America Movil S.A.B. de C.V. ADR L	8.00	7,513,356	22,000		363.50	-4.13
Petroleo Brasileiro S.A. ADR	7.96	8,026,750	103,300		361.69	-11.80
Vale S.A.	7.24	13,426,700	739,600		328.95	--
Petroleo Brasileiro S.A. ADR	6.33	5,602,820	26,400		287.31	-11.98
Itau Unibanco Holding S.A. ADR	4.98	10,172,062	-212,200		226.33	-9.81
Vale S.A. ADR	3.33	5,277,100	416,300		151.29	-5.06
Petroleo Brasileiro S.A.	3.28	6,737,360	251,600		149.14	--
Buenaventura Mining Company Inc. ADR	3.06	3,457,352	-231,000		138.81	-2.36
AmBev ADR	3.02	1,395,526	52,100		137.26	-3.31
VIVO Holding Company ADR	2.40	3,580,900	-840,000		109.22	-3.53
Wal-Mart De Mexico SAB de CV	2.38	26,435,916	987,200		108.31	--
Mexican Economic Development, Inc. ADR	2.36	2,353,395	458,100		107.10	-10.80
Net Servicos De Comunicacao Sa	2.32	7,510,800	280,500		105.25	--
Bank Bradesco ADR	2.28	4,894,100	-478,600		103.71	-10.85
Cap Sa Cap Compania De Aceros Del Pacifico	2.27	3,761,744	140,481		103.20	--
Itau Unibanco Holding SA	1.98	4,145,737	0	--	89.98	--
Tam SA	1.89	4,896,200	55,100		85.83	-11.78
Energy Company of Minas Gerais ADR	1.79	4,513,974	666,074		81.16	-6.64
Santander-Chile Bank ADR	1.70	1,270,275	121,800		77.23	-2.64
Yamana Gold, Inc.	1.69	5,793,300	892,500		76.79	-7.12
Pacific Airport Group ADR	1.69	2,709,243	101,200		76.62	3.58
Aes Tiete SA	1.61	6,625,700	247,400		73.22	--
Tele Norte Leste Holding Company ADR	1.57	3,284,800	777,400		71.48	-14.80
Souza Cruz S.A.	1.36	1,764,300	65,900		61.88	--
Dufry South America Ltd	1.28	2,885,418	107,755		58.19	--