Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	TE CONNECTIVITY LTD	13,201,882	$490M	5.7%	$37.12	—	REG SHS	H84989104
—	TIM PARTICIPACOES S A	16,854,174	$334M	3.9%	$19.82	—	SPONSORED ADR	88706P205
—	AMERICA MOVIL SAB DE CV	12,857,197	$298M	3.5%	$23.14	—	SPON ADR L SHS	02364W105
MSFT	MICROSOFT CORP	9,739,671	$260M	3.0%	$26.71	—	COM	594918104
PBR/A	PETROLEO BRASILEIRO SA PETRO	11,619,892	$257M	3.0%	$22.14	—	SP ADR NON VTG	71654V101
PEP	PEPSICO INC	3,314,877	$227M	2.7%	$68.43	—	COM	713448108
—	CHESAPEAKE ENERGY CORP	12,740,892	$212M	2.5%	$16.62	—	COM	165167107
CX	CEMEX SAB DE CV	21,418,439	$211M	2.5%	$9.87	—	SPON ADR NEW	151290889
FLEX	FLEXTRONICS INTL LTD	32,210,457	$200M	2.3%	$6.21	—	ORD	Y2573F102
WDC	WESTERN DIGITAL CORP	4,620,895	$196M	2.3%	$42.49	—	COM	958102105
BSBR	BANCO SANTANDER BRASIL S A	25,271,443	$184M	2.2%	$7.28	—	ADS REP 1 UNIT	05967A107
PFE	PFIZER INC	7,287,838	$183M	2.1%	$25.08	—	COM	717081103
—	NEWS CORP	6,307,741	$180M	2.1%	$28.53	—	CL A	65248E104
BAC	BANK OF AMERICA CORPORATION	15,466,125	$180M	2.1%	$11.61	—	COM	060505104
WFC	WELLS FARGO & CO NEW	5,097,581	$174M	2.0%	$34.18	—	COM	949746101
E	ENI S P A	3,246,380	$160M	1.9%	$49.14	—	SPONSORED ADR	26874R108
GLW	CORNING INC	12,575,387	$159M	1.9%	$12.62	—	COM	219350105
—	SAFEWAY INC	8,696,323	$157M	1.8%	$18.09	—	COM NEW	786514208
MAS	MASCO CORP	8,791,985	$146M	1.7%	$16.66	—	COM	574599106
—	TOTAL S A	2,738,620	$142M	1.7%	$52.01	—	SPONSORED ADR	89151E109
C	CITIGROUP INC	3,599,242	$142M	1.7%	$39.56	—	COM NEW	172967424
—	HEWLETT PACKARD CO	9,360,708	$133M	1.6%	$14.25	—	COM	428236103
TM	TOYOTA MOTOR CORP	1,382,967	$129M	1.5%	$93.25	—	SP ADR REP2COM	892331307
—	SEAGATE TECHNOLOGY PLC	4,189,394	$127M	1.5%	$30.42	—	SHS	G7945M107
TIIAY	TELECOM ITALIA S P A NEW	13,512,231	$122M	1.4%	$9.05	—	SPON ADR ORD	87927Y102
KR	KROGER CO	4,552,480	$118M	1.4%	$26.02	—	COM	501044101
NTTYY	NIPPON TELEG & TEL CORP	5,597,411	$118M	1.4%	$21.03	—	SPONSORED ADR	654624105
SNY	SANOFI	2,458,811	$116M	1.4%	$47.38	—	SPONSORED ADR	80105N105
STT	STATE STR CORP	2,403,235	$113M	1.3%	$47.01	—	COM	857477103
—	UNILEVER N V	2,923,141	$112M	1.3%	$38.30	—	N Y SHS NEW	904784709
INTC	INTEL CORP	5,409,697	$112M	1.3%	$20.62	—	COM	458140100
LLY	LILLY ELI & CO	2,239,053	$110M	1.3%	$49.32	—	COM	532457108
BSX	BOSTON SCIENTIFIC CORP	18,884,769	$108M	1.3%	$5.73	—	COM	101137107
BP	BP PLC	2,536,656	$106M	1.2%	$41.64	—	SPONSORED ADR	055622104
AZN	ASTRAZENECA PLC	2,188,735	$103M	1.2%	$47.27	—	SPONSORED ADR	046353108
—	XEROX CORP	14,662,454	$100M	1.2%	$6.82	—	COM	984121103
BK	BANK NEW YORK MELLON CORP	3,752,164	$96.43M	1.1%	$25.70	—	COM	064058100
CAJPY	CANON INC	2,457,830	$96.37M	1.1%	$39.21	—	ADR	138006309
—	CRH PLC	4,725,982	$96.13M	1.1%	$20.34	—	ADR	12626K203
—	TELEFONICA BRASIL SA	3,351,557	$93.41M	1.1%	$27.87	—	SPONSORED ADR	87936R106
—	GLAXOSMITHKLINE PLC	2,148,044	$93.38M	1.1%	$43.47	—	SPONSORED ADR	37733W105
—	AEGON N V	14,287,049	$92.01M	1.1%	$6.44	—	NY REGISTRY SH	007924103
EMBJ	EMBRAER S A	2,942,564	$83.89M	1.0%	$28.51	—	SP ADR REP 4 COM	29082A107
MRK	MERCK & CO INC NEW	2,014,574	$82.48M	1.0%	$40.94	—	COM	58933Y105
HMC	HONDA MOTOR LTD	2,173,270	$80.28M	0.9%	$36.94	—	AMERN SHS	438128308
—	FRANCE TELECOM	7,172,280	$79.25M	0.9%	$11.05	—	SPONSORED ADR	35177Q105
AXIA	CENTRAIS ELETRICAS BRASILEIR	25,299,878	$78.94M	0.9%	$3.12	—	SPONSORED ADR	15234Q207
ERIC	ERICSSON	7,537,976	$76.13M	0.9%	$10.10	—	ADR B SEK 10	294821608
MUFG	MITSUBISHI UFJ FINL GROUP IN	13,457,923	$72.94M	0.9%	$5.42	—	SPONSORED ADR	606822104
SMFG	SUMITOMO MITSUI FINL GROUP I	8,865,195	$65.07M	0.8%	$7.34	—	SPONSORED ADR	86562M209
—	SK TELECOM LTD	4,081,818	$64.61M	0.8%	$15.83	—	SPONSORED ADR	78440P108
PNC	PNC FINL SVCS GROUP INC	1,101,591	$64.23M	0.8%	$58.31	—	COM	693475105
PKX	POSCO	769,013	$63.17M	0.7%	$82.15	—	SPONSORED ADR	693483109
STM	STMICROELECTRONICS N V	7,908,060	$57.25M	0.7%	$7.24	—	NY REGISTRY	861012102
KEP	KOREA ELECTRIC PWR	2,956,044	$41.3M	0.5%	$13.97	—	SPONSORED ADR	500631106
—	UBS AG	2,566,008	$40.39M	0.5%	$15.74	—	SHS NEW	H89231338
—	ASIAINFO-LINKAGE INC	3,329,030	$36.12M	0.4%	$10.85	—	COM	04518A104
BCS	BARCLAYS PLC	2,079,901	$36.02M	0.4%	$17.32	—	ADR	06738E204
TELFY	TELEFONICA S A	2,474,763	$33.38M	0.4%	$13.49	—	SPONSORED ADR	879382208
—	PORTUGAL TELECOM SGPS S A	5,980,460	$29.78M	0.3%	$4.98	—	SPONSORED ADR	737273102
SONY	SONY CORP	2,533,254	$28.37M	0.3%	$11.20	—	ADR NEW	835699307
HSBC	HSBC HLDGS PLC	522,021	$27.7M	0.3%	$53.07	—	SPON ADR NEW	404280406
TX	TERNIUM SA	1,128,209	$26.5M	0.3%	$23.49	—	SPON ADR	880890108
—	VODAFONE GROUP PLC NEW	1,003,173	$25.27M	0.3%	$25.19	—	SPONS ADR NEW	92857W209
CYD	CHINA YUCHAI INTL LTD	1,519,176	$23.92M	0.3%	$15.75	—	COM	G21082105
—	BRIGGS & STRATTON CORP	1,071,270	$22.58M	0.3%	$21.08	—	COM	109043109
—	INGRAM MICRO INC	1,137,607	$19.25M	0.2%	$16.92	—	CL A	457153104
PHM	PULTE GROUP INC	1,019,239	$18.51M	0.2%	$18.16	—	COM	745867101
JPM	JPMORGAN CHASE & CO	373,196	$16.41M	0.2%	$43.97	—	COM	46625H100
ORI	OLD REP INTL CORP	1,492,949	$15.9M	0.2%	$10.65	—	COM	680223104
—	OI S.A.	3,600,160	$15.47M	0.2%	$4.30	—	SPN ADR REP PFD	670851203
—	ARGO GROUP INTL HLDGS LTD	439,394	$14.76M	0.2%	$33.59	—	COM	G0464B107
LEA	LEAR CORP	312,827	$14.65M	0.2%	$46.84	—	COM NEW	521865204
—	SYNERON MEDICAL LTD	1,438,789	$12.47M	0.1%	$8.67	—	ORD SHS	M87245102
SWK	STANLEY BLACK & DECKER INC	165,820	$12.27M	0.1%	$73.97	—	COM	854502101
—	SIERRA WIRELESS INC	1,544,631	$12.27M	0.1%	$7.94	—	COM	826516106
—	COMPANHIA PARANAENSE ENERG C	743,900	$11.98M	0.1%	$16.11	—	SPON ADR PFD	20441B407
TAP	MOLSON COORS BREWING CO	231,283	$11.4M	0.1%	$49.28	—	CL B	60871R209
—	COMCAST CORP NEW	275,736	$11.38M	0.1%	$41.28	—	CL A SPL	20030N200
OSK	OSHKOSH CORP	375,903	$11.14M	0.1%	$29.65	—	COM	688239201
—	DOW CHEM CO	337,955	$10.93M	0.1%	$32.33	—	COM	260543103
PG	PROCTER & GAMBLE CO	150,043	$10.19M	0.1%	$67.89	—	COM	742718109
ITUB	ITAU UNIBANCO HLDG SA	578,888	$10.18M	0.1%	$17.59	—	SPON ADR REP PFD	465562106
CSCO	CISCO SYS INC	505,803	$9.939M	0.1%	$19.65	—	COM	17275R102
—	CHINA MOBILE LIMITED	163,761	$9.616M	0.1%	$58.72	—	SPONSORED ADR	16941M109
ADM	ARCHER DANIELS MIDLAND CO	347,837	$9.527M	0.1%	$27.39	—	COM	039483102
PEG	PUBLIC SVC ENTERPRISE GROUP	294,242	$9.004M	0.1%	$30.60	—	COM	744573106
—	SYMANTEC CORP	466,015	$8.771M	0.1%	$18.82	—	COM	871503108
—	WILLIS GROUP HOLDINGS PUBLIC	257,777	$8.643M	0.1%	$33.53	—	SHS	G96666105
KB	KB FINANCIAL GROUP INC	227,752	$8.176M	0.1%	$35.90	—	SPONSORED ADR	48241A105
—	JONES GROUP INC	711,729	$7.871M	0.1%	$11.06	—	COM	48020T101
—	TRW AUTOMOTIVE HLDGS CORP	145,597	$7.805M	0.1%	$53.61	—	COM	87264S106
LEN/B	LENNAR CORP	241,158	$7.365M	0.1%	$30.54	—	CL B	526057302
ORCL	ORACLE CORP	213,665	$7.12M	0.1%	$33.32	—	COM	68389X105
TXN	TEXAS INSTRS INC	226,874	$7.008M	0.1%	$30.89	—	COM	882508104
—	CELESTICA INC	837,762	$6.828M	0.1%	$8.15	—	SUB VTG SHS	15101Q108
—	AON PLC	122,253	$6.799M	0.1%	$55.61	—	SHS CL A	G0408V102
—	AVON PRODS INC	463,508	$6.656M	0.1%	$14.36	—	COM	054303102
—	NORTEL INVERSORA S A	428,248	$6.568M	0.1%	$15.34	—	SPON ADR PFD B	656567401
MGA	MAGNA INTL INC	130,767	$6.541M	0.1%	$50.02	—	COM	559222401
CVX	CHEVRON CORP NEW	60,180	$6.508M	0.1%	$108.14	—	COM	166764100
MRSH	MARSH & MCLENNAN COS INC	188,550	$6.499M	0.1%	$34.47	—	COM	571748102
—	COMVERSE INC	224,519	$6.405M	0.1%	$28.53	—	COM	20585P105
—	STAPLES INC	549,439	$6.264M	0.1%	$11.40	—	COM	855030102
JOE	ST JOE CO	267,200	$6.167M	0.1%	$23.08	—	COM	790148100
—	OWENS ILL INC	282,317	$6.005M	0.1%	$21.27	—	COM NEW	690768403
TSN	TYSON FOODS INC	302,652	$5.872M	0.1%	$19.40	—	CL A	902494103
—	COMVERSE TECHNOLOGY INC	1,465,154	$5.626M	0.1%	$3.84	—	COM PAR $0.10	205862402
SHG	SHINHAN FINANCIAL GROUP CO L	146,726	$5.376M	0.1%	$36.64	—	SPN ADR RESTRD	824596100
—	BB&T CORP	179,174	$5.216M	0.1%	$29.11	—	COM	054937107
KEY	KEYCORP NEW	596,555	$5.023M	0.1%	$8.42	—	COM	493267108
—	PEOPLES UNITED FINANCIAL INC	407,823	$4.93M	0.1%	$12.09	—	COM	712704105
—	SYKES ENTERPRISES INC	319,841	$4.868M	0.1%	$15.22	—	COM	871237103
—	JAKKS PAC INC	367,553	$4.602M	0.1%	$12.52	—	COM	47012E106
EG	EVEREST RE GROUP LTD	40,384	$4.44M	0.1%	$109.94	—	COM	G3223R108
GT	GOODYEAR TIRE & RUBR CO	284,867	$3.934M	0.0%	$13.81	—	COM	382550101
TV	GRUPO TELEVISA SA	147,809	$3.929M	0.0%	$26.58	—	SPON ADR REP ORD	40049J206
VC	VISTEON CORP	71,583	$3.852M	0.0%	$53.81	—	COM NEW	92839U206
RF	REGIONS FINL CORP NEW	524,102	$3.737M	0.0%	$7.13	—	COM	7591EP100
FITB	FIFTH THIRD BANCORP	227,119	$3.453M	0.0%	$15.20	—	COM	316773100
SENEA	SENECA FOODS CORP NEW	106,109	$3.226M	0.0%	$30.40	—	CL A	817070501
—	OFFICEMAX INC DEL	328,847	$3.209M	0.0%	$9.76	—	COM	67622P101
FIX	COMFORT SYS USA INC	244,004	$2.967M	0.0%	$12.16	—	COM	199908104
ORN	ORION MARINE GROUP INC	379,102	$2.772M	0.0%	$7.31	—	COM	68628V308
—	NATUZZI S P A	1,420,863	$2.728M	0.0%	$1.92	—	ADR	63905A101
WGO	WINNEBAGO INDS INC	147,348	$2.524M	0.0%	$17.13	—	COM	974637100
CFFN	CAPITOL FED FINL INC	218,300	$2.472M	0.0%	$11.32	—	COM	14057J101
—	UTSTARCOM HOLDINGS CORP	2,222,009	$2.292M	0.0%	$1.03	—	USD ORD SHS	G9310A106
—	QUIKSILVER INC	536,463	$2.28M	0.0%	$4.25	—	COM	74838C106
—	DESARROLLADORA HOMEX S A DE	172,650	$2.155M	0.0%	$12.48	—	SPONSORED ADR	25030W100
—	SUNTRUST BKS INC	67,022	$1.9M	0.0%	$28.35	—	COM	867914103
—	UNILEVER PLC	48,839	$1.891M	0.0%	$38.72	—	SPON ADR NEW	904767704
—	SUPERVALU INC	719,646	$1.778M	0.0%	$2.47	—	COM	868536103
—	NATIONAL WESTN LIFE INS CO	11,158	$1.76M	0.0%	$157.73	—	CL A	638522102
LEN	LENNAR CORP	41,710	$1.613M	0.0%	$38.67	—	CL A	526057104
—	COTT CORP QUE	168,960	$1.357M	0.0%	$8.03	—	COM	22163N106
—	OCEAN SHORE HLDG CO NEW	89,828	$1.329M	0.0%	$14.79	—	COM	67501R103
—	PARTNER COMMUNICATIONS CO LT	189,291	$1.132M	0.0%	$5.98	—	ADR	70211M109
CPA	COPA HOLDINGS SA	11,000	$1.094M	0.0%	$99.45	—	CL A	P31076105
ALEX	ALEXANDER & BALDWIN INC NEW	33,480	$984K	0.0%	$29.39	—	COM	014491104
HBCP	HOME BANCORP INC	51,822	$946K	0.0%	$18.25	—	COM	43689E107
MKTAY	MAKITA CORP	19,330	$898K	0.0%	$46.46	—	ADR NEW	560877300
—	RESEARCH IN MOTION LTD	57,220	$679K	0.0%	$11.87	—	COM	760975102
FDP	FRESH DEL MONTE PRODUCE INC	24,680	$651K	0.0%	$26.38	—	ORD	G36738105
—	TECUMSEH PRODS CO	138,787	$641K	0.0%	$4.62	—	CL A	878895200
—	OMNIVISION TECHNOLOGIES INC	35,340	$498K	0.0%	$14.09	—	COM	682128103
MLR	MILLER INDS INC TENN	31,392	$478K	0.0%	$15.23	—	COM NEW	600551204
—	AMEDISYS INC	36,685	$415K	0.0%	$11.31	—	COM	023436108
IFF	INTERNATIONAL FLAVORS&FRAGRA	8,045	$342K	0.0%	$42.51	—	COM	459506101
ENZN	ENZON PHARMACEUTICALS INC	67,810	$300K	0.0%	$4.42	—	COM	293904108
—	MAIDENFORM BRANDS INC	23,830	$286K	0.0%	$12.00	—	COM	560305104
VSH	VISHAY INTERTECHNOLOGY INC	26,460	$281K	0.0%	$10.62	—	COM	928298108
—	TECH DATA CORP	5,840	$266K	0.0%	$45.55	—	COM	878237106
LPX	LOUISIANA PAC CORP	12,725	$246K	0.0%	$19.33	—	COM	546347105
UPBD	RENT A CTR INC NEW	12,050	$245K	0.0%	$20.33	—	COM	76009N100
—	INTERNATIONAL SPEEDWAY CORP	12,204	$239K	0.0%	$19.58	—	CL A	460335201
BCO	BRINKS CO	14,350	$234K	0.0%	$16.31	—	COM	109696104
—	BAKER MICHAEL CORP	16,850	$230K	0.0%	$13.65	—	COM	057149106
—	HOUSTON WIRE & CABLE CO	27,130	$227K	0.0%	$8.37	—	COM	44244K109
—	INVESTORS BANCORP INC	15,600	$185K	0.0%	$11.86	—	COM	46146P102
ING	ING GROEP N V	14,903	$141K	0.0%	$9.46	—	SPONSORED ADR	456837103
—	CUTERA INC	14,543	$131K	0.0%	$9.01	—	COM	232109108
—	PALOMAR MED TECHNOLOGIES INC	23,258	$123K	0.0%	$5.29	—	COM NEW	697529303
NOK	NOKIA CORP	23,900	$94,000	0.0%	$3.93	—	SPONSORED ADR	654902204
—	BROCADE COMMUNICATIONS SYS I	16,800	$90,000	0.0%	$5.36	—	COM NEW	111621306
—	TECUMSEH PRODS CO	10,675	$49,000	0.0%	$4.59	—	CL B	878895101
HIMX	HIMAX TECHNOLOGIES INC	20,000	$48,000	0.0%	$2.40	—	SPONSORED ADR	43289P106
—	TELECOMMUNICATION SYS INC	17,536	$43,000	0.0%	$2.45	—	CL A	87929J103
—	K-SWISS INC	12,001	$40,000	0.0%	$3.33	—	CL A	482686102
—	LONGWEI PETROLEUM INV HLDG L	16,899	$36,000	0.0%	$2.13	—	COM	543354104
—	PENDRELL CORP	22,448	$29,000	0.0%	$1.29	—	COM	70686R104
—	L & L ENERGY INC	13,086	$25,000	0.0%	$1.91	—	COM	50162D100
—	JOES JEANS INC	20,595	$21,000	0.0%	$1.02	—	COM	47777N101