Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	DEPOMED INC	3,066,387	$22.91M	6.0%	$5.62	—	COM	249908104
—	U S AIRWAYS GROUP INC	986,900	$18.71M	4.9%	$16.62	—	COM	90341W108
—	ANADARKO PETE CORP	166,660	$15.5M	4.1%	$85.93	—	COM	032511107
—	HERTZ GLOBAL HOLDINGS INC	681,500	$15.1M	4.0%	$24.43	—	COM	42805T105
BAP	CREDICORP LTD	89,445	$11.49M	3.0%	$96.95	-7.9%	COM	G2519Y108
CPA	COPA HOLDINGS SA	75,610	$10.48M	2.7%	$87.82	+7.5%	CL A	P31076105
URI	UNITED RENTALS INC	176,693	$10.3M	2.7%	$51.55	+4.2%	COM	911363109
TSM	TAIWAN SEMICONDUCTOR MFG LTD	568,445	$9.641M	2.5%	$17.42	—	SPONSORED ADR	874039100
CMCSA	COMCAST CORP NEW	204,848	$9.242M	2.4%	$15.62	+5.9%	CL A	20030N101
—	CAMERON INTERNATIONAL CORP	152,913	$8.926M	2.3%	$60.21	—	COM	13342B105
C	CITIGROUP INC	162,530	$7.884M	2.1%	$35.76	+5.2%	COM NEW	172967424
—	COSAN LTD	511,425	$7.861M	2.1%	$15.95	—	SHS A	G25343107
FCX	FREEPORT-MCMORAN COPPER & GO	236,730	$7.831M	2.0%	$24.82	+3.4%	COM	35671D857
MU	MICRON TECHNOLOGY INC	414,000	$7.232M	1.9%	$14.15	0.0%	COM	595112103
—	CELGENE CORP	43,960	$6.776M	1.8%	$116.99	—	COM	151020104
—	COMPANHIA DE BEBIDAS DAS AME	163,345	$6.264M	1.6%	$37.81	—	SPON ADR PFD	20441W203
LBTYAUSD	LIBERTY GLOBAL PLC	77,622	$6.159M	1.6%	$74.25	—	SHS CL A	G5480U104
EBAY	EBAY INC	109,750	$6.124M	1.6%	$20.18	-1.1%	COM	278642103
—	B/E AEROSPACE INC	78,600	$5.802M	1.5%	$63.07	—	COM	073302101
—	BANCOLOMBIA S A	96,095	$5.529M	1.4%	$56.53	—	SPON ADR PREF	05968L102
SQM	SOCIEDAD QUIMICA MINERA DE C	178,240	$5.445M	1.4%	$37.64	—	SPON ADR SER B	833635105
GILD	GILEAD SCIENCES INC	80,500	$5.061M	1.3%	$36.21	+14.7%	COM	375558103
SLB	SCHLUMBERGER LTD	56,550	$4.997M	1.3%	$52.90	+11.5%	COM	806857108
UGP	ULTRAPAR PARTICIPACOES S A	201,300	$4.95M	1.3%	$24.00	—	SP ADR REP COM	90400P101
ITUB	ITAU UNIBANCO HLDG SA	337,967	$4.772M	1.2%	$13.00	—	SPON ADR REP PFD	465562106
AAPL	APPLE INC	9,854	$4.698M	1.2%	$13.30	+7.4%	COM	037833100
DIS	DISNEY WALT CO	72,133	$4.652M	1.2%	$56.42	+0.9%	COM DISNEY	254687106
—	TRIUMPH GROUP INC NEW	65,840	$4.623M	1.2%	$70.22	—	COM	896818101
IP	INTL PAPER CO	101,732	$4.558M	1.2%	$25.91	+3.7%	COM	460146103
EMBJ	EMBRAER S A	137,500	$4.465M	1.2%	$36.57	—	SP ADR REP 4 COM	29082A107
BBD	BANCO BRADESCO S A	315,517	$4.379M	1.1%	$13.01	—	SP ADR PFD NEW	059460303
HCA	HCA HOLDINGS INC	98,994	$4.232M	1.1%	$36.08	+0.7%	COM	40412C101
—	VALE S A	282,410	$4.013M	1.1%	$12.29	—	ADR REPSTG PFD	91912E204
—	GNC HLDGS INC	72,200	$3.944M	1.0%	$44.23	—	COM CL A	36191G107
—	LIBERTY GLOBAL PLC	51,830	$3.91M	1.0%	$70.25	—	SHS CL C	G5480U120
—	REALOGY HLDGS CORP	89,500	$3.85M	1.0%	$43.02	—	COM	75605Y106
—	SIRIUS XM RADIO INC	929,800	$3.603M	0.9%	$3.46	—	COM	82967N108
—	ANGIES LIST INC	154,000	$3.463M	0.9%	$26.56	—	COM	034754101
EC	ECOPETROL S A	72,325	$3.327M	0.9%	$42.17	—	SPONSORED ADS	279158109
GOGO	GOGO INC	186,700	$3.318M	0.9%	$13.09	0.0%	COM	38046C109
CHT	CHUNGHWA TELECOM CO LTD	100,923	$3.187M	0.8%	$32.11	—	SPON ADR NEW11	17133Q502
BIDU	BAIDU INC	19,675	$3.053M	0.8%	$94.60	—	COM	056752108
HAL	HALLIBURTON CO	59,850	$2.882M	0.8%	$33.21	+12.4%	COM	406216101
CIG	COMPANHIA ENERGETICA DE MINA	325,003	$2.808M	0.7%	$8.96	—	SP ADR N-V PFD	204409601
ON	ON SEMICONDUCTOR CORP	374,994	$2.741M	0.7%	$7.88	-2.6%	COM	682189105
IBN	ICICI BK LTD	86,500	$2.637M	0.7%	$38.25	—	ADR	45104G104
—	WYNDHAM WORLDWIDE CORP	42,000	$2.561M	0.7%	$57.23	—	COM	98310W108
ASR	GRUPO AEROPORTUARIO DEL SURE	23,000	$2.504M	0.7%	$111.19	—	SPON ADR SER B	40051E202
—	TENNECO INC	48,550	$2.452M	0.6%	$45.29	—	COM	880349105
—	TATA MTRS LTD	91,500	$2.436M	0.6%	$23.66	—	SPONSORED ADR	876568502
RHP	RYMAN HOSPITALITY PPTYS INC	68,500	$2.364M	0.6%	$39.01	—	COM	78377T107
—	PETROCHINA CO LTD	19,750	$2.172M	0.6%	$110.68	—	SPONSORED ADR	71646E100
—	GOOGLE INC	2,440	$2.137M	0.6%	$880.41	—	CL A	38259P508
LYB	LYONDELLBASELL INDUSTRIES N	29,000	$2.124M	0.6%	$34.59	+6.8%	SHS - A -	N53745100
BAC	BANK OF AMERICA CORPORATION	152,500	$2.105M	0.6%	$10.03	+12.0%	COM	060505104
JPM	JPMORGAN CHASE & CO	39,600	$2.047M	0.5%	$36.82	+4.6%	COM	46625H100
—	PHILIPPINE LONG DISTANCE TEL	30,100	$2.042M	0.5%	$67.87	—	SPONSORED ADR	718252604
BA	BOEING CO	17,000	$1.998M	0.5%	$91.56	0.0%	COM	097023105
EXPE	EXPEDIA INC DEL	36,000	$1.865M	0.5%	$49.75	0.0%	COM NEW	30212P303
—	APACHE CORP	21,781	$1.854M	0.5%	$83.83	—	COM	037411105
—	TELEFONICA BRASIL SA	82,000	$1.84M	0.5%	$22.77	—	SPONSORED ADR	87936R106
UAL	UNITED CONTL HLDGS INC	59,005	$1.812M	0.5%	$32.18	0.0%	COM	910047109
TLK	P T TELEKOMUNIKASI INDONESIA	48,140	$1.748M	0.5%	$42.75	—	SPONSORED ADR	715684106
GLD	SPDR GOLD TRUST	12,900	$1.654M	0.4%	$119.08	—	GOLD SHS	78463V107
KB	KB FINANCIAL GROUP INC	47,000	$1.646M	0.4%	$29.63	—	SPONSORED ADR	48241A105
—	SPDR SERIES TRUST	41,000	$1.634M	0.4%	$39.49	—	BRC HGH YLD BD	78464A417
—	CPFL ENERGIA S A	93,700	$1.616M	0.4%	$18.23	—	SPONSORED ADR	126153105
M	MACYS INC	36,802	$1.592M	0.4%	$46.56	+0.3%	COM	55616P104
—	ANNALY CAP MGMT INC	136,200	$1.577M	0.4%	$12.57	—	COM	035710409
CAR	AVIS BUDGET GROUP	54,372	$1.568M	0.4%	$28.47	-0.2%	COM	053774105
FMX	FOMENTO ECONOMICO MEXICANO S	15,750	$1.529M	0.4%	$103.17	—	SPON ADR UNITS	344419106
—	HCP INC	35,000	$1.433M	0.4%	$45.43	—	COM	40414L109
BCS	BARCLAYS PLC	75,000	$1.278M	0.3%	$17.04	—	ADR	06738E204
—	GENERAL ELECTRIC CO	53,013	$1.266M	0.3%	$23.18	—	COM	369604103
DAL	DELTA AIR LINES INC DEL	52,032	$1.227M	0.3%	$14.99	+20.4%	COM NEW	247361702
DG	DOLLAR GEN CORP NEW	20,000	$1.129M	0.3%	$45.09	+6.0%	COM	256677105
—	CBS CORP NEW	19,650	$1.084M	0.3%	$48.87	—	COM	124857202
—	TWENTY FIRST CENTY FOX INC	30,000	$1.005M	0.3%	$33.50	—	CL A	90130A101
TEX	TEREX CORP NEW	25,200	$847K	0.2%	$30.88	-1.8%	COM	880779103
HD	HOME DEPOT INC	10,333	$784K	0.2%	$56.05	+3.2%	COM	437076102
MSFT	MICROSOFT CORP	21,937	$730K	0.2%	$27.00	0.0%	COM	594918104
—	TRW AUTOMOTIVE HLDGS CORP	10,000	$713K	0.2%	$71.30	—	COM	87264S106
—	GAFISA S A	214,000	$687K	0.2%	$2.72	—	SPONS ADR	362607301
—	POWERSHARES ETF TRUST	39,000	$668K	0.2%	$17.90	—	FINL PFD PTFL	73935X229
—	SHIP FINANCE INTERNATIONAL L	43,000	$657K	0.2%	$14.87	—	SHS	G81075106
—	AMERICAN CAPITAL AGENCY CORP	27,000	$610K	0.2%	$23.00	—	COM	02503X105
VNO	VORNADO RLTY TR	7,180	$604K	0.2%	$82.87	—	SH BEN INT	929042109
—	ENERSIS S A	37,300	$599K	0.2%	$16.06	—	SPONSORED ADR	29274F104
ABBNY	ABB LTD	24,500	$578K	0.2%	$21.67	—	SPONSORED ADR	000375204
TEO	TELECOM ARGENTINA S A	31,300	$562K	0.1%	$14.89	—	SPON ADR REP B	879273209
AMGN	AMGEN INC	5,000	$560K	0.1%	$73.34	+5.0%	COM	031162100
WNC	WABASH NATL CORP	42,000	$490K	0.1%	$8.07	+11.0%	COM	929566107
EEM	ISHARES	12,000	$489K	0.1%	$38.50	—	MSCI EMG MKT ETF	464287234
OXY	OCCIDENTAL PETE CORP DEL	5,220	$488K	0.1%	$57.83	+2.4%	COM	674599105
—	VITAMIN SHOPPE INC	10,500	$459K	0.1%	$44.86	—	COM	92849E101
ALX	ALEXANDERS INC	1,596	$457K	0.1%	$293.86	—	COM	014752109
BANC	BANC CALIF INC	31,097	$430K	0.1%	$10.14	0.0%	COM	05990K106
FMC	F M C CORP	6,000	$430K	0.1%	$40.72	+9.1%	COM NEW	302491303
—	CELGENE CORP	50,300	$404K	0.1%	$7.32	—	RIGHT 12/31/2030	151020112
PRTA	PROTHENA CORP PLC	19,219	$389K	0.1%	$9.30	+90.2%	SHS	G72800108
WKC	WORLD FUEL SVCS CORP	10,423	$389K	0.1%	$38.51	0.0%	COM	981475106
V	VISA INC	2,000	$382K	0.1%	$40.02	+5.8%	COM CL A	92826C839
—	WESTERN GAS EQUITY PARTNERS	10,000	$372K	0.1%	$41.20	—	COMUNT LTD PT	95825R103
—	BRF SA	15,000	$368K	0.1%	$21.73	—	SPONSORED ADR	10552T107
—	DONNELLEY R R & SONS CO	23,000	$363K	0.1%	$14.00	—	COM	257867101
—	UNILEVER N V	9,500	$358K	0.1%	$39.26	—	N Y SHS NEW	904784709
—	SK TELECOM LTD	15,000	$341K	0.1%	$20.33	—	SPONSORED ADR	78440P108
CAT	CATERPILLAR INC DEL	4,000	$334K	0.1%	$61.55	+0.1%	COM	149123101
—	EMPRESA NACIONAL DE ELCTRCID	7,500	$315K	0.1%	$44.17	—	SPONSORED ADR	29244T101
ROST	ROSS STORES INC	4,000	$291K	0.1%	$28.26	+6.9%	COM	778296103
THC	TENET HEALTHCARE CORP	7,000	$288K	0.1%	$43.72	-4.3%	COM NEW	88033G407
—	FMC TECHNOLOGIES INC	5,000	$277K	0.1%	$55.60	—	COM	30249U101
SCCO	SOUTHERN COPPER CORP	10,000	$272K	0.1%	$20.45	-12.6%	COM	84265V105
JNJ	JOHNSON & JOHNSON	3,000	$260K	0.1%	$59.66	+6.5%	COM	478160104
—	KINDER MORGAN MANAGEMENT LLC	3,413	$256K	0.1%	$83.48	—	SHS	49455U100
—	MARATHON OIL CORP	7,000	$244K	0.1%	$34.57	—	COM	565849106
—	POWERSHARES QQQ TRUST	3,087	$244K	0.1%	$71.27	—	UNIT SER 1	73935A104
MCD	MCDONALDS CORP	2,503	$241K	0.1%	$71.80	-1.7%	COM	580135101
—	SANDRIDGE ENERGY INC	41,000	$240K	0.1%	$4.76	—	COM	80007P307
DE	DEERE & CO	2,800	$228K	0.1%	$68.04	-3.1%	COM	244199105
—	MFA FINL INC	30,000	$224K	0.1%	$8.47	—	COM	55272X102
RIG	TRANSOCEAN LTD	5,000	$223K	0.1%	$50.97	-7.2%	REG SHS	H8817H100
—	TEEKAY LNG PARTNERS L P	5,000	$221K	0.1%	$43.80	—	PRTNRSP UNITS	Y8564M105
VTI	VANGUARD INDEX FDS	2,358	$207K	0.1%	$87.79	—	TOTAL STK MKT	922908769
—	CAVIUM INC	5,000	$206K	0.1%	$41.20	—	COM	14964U108
INTC	INTEL CORP	8,922	$205K	0.1%	$17.18	-1.6%	COM	458140100
KIM	KIMCO RLTY CORP	10,000	$202K	0.1%	$12.61	-5.9%	COM	49446R109
GGB	GERDAU S A	20,000	$149K	0.0%	$6.58	—	SPON ADR REP PFD	373737105
TKC	TURKCELL ILETISIM HIZMETLERI	10,000	$148K	0.0%	$14.80	—	SPON ADR NEW	900111204
—	MATERIAL SCIENCES CORP	15,000	$141K	0.0%	$9.90	—	COM	576674105
BVN	COMPANIA DE MINAS BUENAVENTU	11,800	$138K	0.0%	$14.76	—	SPONSORED ADR	204448104
—	GSI GROUP INC CDA NEW	14,000	$134K	0.0%	$8.04	—	COM NEW	36191C205
—	SANOFI	59,025	$119K	0.0%	$1.90	—	RIGHT 12/31/2020	80105N113
—	WRIGHT MED GROUP INC	335,850	$119K	0.0%	$1.27	—	RIGHT 03/01/2019	98235T115
MWA	MUELLER WTR PRODS INC	12,478	$100K	0.0%	$5.51	+16.6%	COM SER A	624758108
—	CURIS INC	20,000	$89,000	0.0%	$3.20	—	COM	231269101
—	PENNEY J C INC	10,000	$88,000	0.0%	$8.80	—	COM	708160106
—	CENVEO INC	22,000	$65,000	0.0%	$2.14	—	COM	15670S105
—	POSTROCK ENERGY CORP	45,000	$59,000	0.0%	$1.53	—	COM	737525105
—	ARMOUR RESIDENTIAL REIT INC	400,000	$1,000	0.0%	$0.00	—	*W EXP 11/07/201	042315101