Portfolio Holdings

Shares Held

Market Value

% of Net Assets

5,888,199

$15,198,439

18.75%

3,310,877

$10,866,620

13.40%

2,594,157

$6,816,056

8.41%

3,231,886

$4,698,634

5.80%

1,602,305

$3,988,763

4.92%

425,300

$3,308,858

4.08%

723,000

$3,001,869

3.70%

2,226,785

$2,808,745

3.46%

Fomento Economico Mexicano S.A. de C.V. 

524,600

$2,487,879

3.07%

300,000

$2,436,598

3.01%

Mexichem, S.A. de C.V.

820,059

$2,347,831

2.90%

Financiera Independencia S.A.B. de C.V.

2,072,600

$2,228,774

2.75%

Consorcio Ara, S.A. de C.V.

3,202,000

$2,200,160

2.71%

Carso Infraestructura y Construccion, S.A.

3,298,368

$2,145,825

2.65%

Qualitas Compania de Seguros

2,968,651

$2,049,466

2.53%

Grupo Continental, S.A.

637,100

$1,705,522

2.10%

Urbi Desarrollos Urbanos, 8.500% Coupon 4/19/2016

1,521,000

$1,616,823

1.99%

Promotora Ambiental, S.A. de C.V.

1,297,745

$1,528,340

1.89%

Grupo Bimbo, S.A.B. de C.V.

187,957

$1,502,160

1.85%

Corporativo GBM S.A.B. de C.V.

2,781,928

$1,346,650

1.66%

Grupo Mexicano de Desarrollo, S.A.B.

1,452,351

$1,297,558

1.60%

Embotelladora Arca S.A.

287,000

$1,083,920

1.34%

Grupo Herdez S.A.B.

545,600

$809,609

1.00%

Mexican INAFIN 0% Coupon, 4.732% Effective Yield, 5/4/10 (a)

8,506,759*

$690,656

0.85%

GMD Resorts SAB de CV

1,358,073

$430,180

0.53%

First American Treasury Obligation - Class A

343,501

$343,501

0.42%

Mexican INAFIN 0% Coupon, 4.741% Effective Yield, 5/5/10 (a)

554,694*

$45,029

0.06%