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
Estimated average burden
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
IRSA INVERSIONES Y REP S A GLOBL DEP RCPT 450047204 860 43,651 SH   OTR 1 0 43,651 0
ISHARES US HOME CONS ETF 464288752 7,535 266,918 SH   OTR 1 0 266,918 0
ISHARES US HOME CONS ETF 464288752 121,352 4,298,708 SH   SOLE 4,298,708 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 11,567 260,200 SH   SOLE 260,200 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 927 23,100 SH   SOLE 23,100 0 0
ISHARES TR MSCI INDONIA ETF 46429B309 20,257 730,000 SH   SOLE 730,000 0 0
ISHARES TR NASDQ BIOTEC ETF 464287556 13,222 38,500 SH Put SOLE 38,500 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 90,091 724,500 SH Put SOLE 724,500 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 16,802 135,120 SH   SOLE 135,120 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 3,715 29,880 SH   OTR 1 0 29,880 0
JD COM INC SPON ADR CL A 47215P106 2,899 98,661 SH   SOLE 98,661 0 0
JD COM INC SPON ADR CL A 47215P106 1,064 36,200 SH Call OTR 1 0 36,200 0
JD COM INC SPON ADR CL A 47215P106 10,688 363,800 SH Call SOLE 363,800 0 0
JD COM INC SPON ADR CL A 47215P106 187 6,339 SH   OTR 1 0 6,339 0
LAM RESEARCH CORP COM 512807108 2,339 33,300 SH   SOLE 33,300 0 0
LINKEDIN CORP COM CL A 53578A108 497 1,992 SH   OTR 1 0 1,992 0
LINKEDIN CORP COM CL A 53578A108 4,999 20,008 SH   SOLE 20,008 0 0
LIONS GATE ENTMNT CORP COM NEW 535919203 7,590 223,701 SH   SOLE 223,701 0 0
LIONS GATE ENTMNT CORP COM NEW 535919203 553 16,299 SH   OTR 1 0 16,299 0
MACQUARIE INFRASTR CO LLC MEMBERSHIP INT 55608B105 5,226 63,500 SH   SOLE 63,500 0 0
MARATHON PETE CORP COM 56585A102 512 5,000 SH   SOLE 5,000 0 0
MICROSOFT CORP COM 594918104 5,375 132,200 SH Put OTR 1 0 132,200 0
MICROSOFT CORP COM 594918104 34,720 854,000 SH Put SOLE 854,000 0 0
MORGAN STANLEY COM NEW 617446448 1,935 54,200 SH   SOLE 54,200 0 0
NATIONAL WESTMINSTER BK PLC SPON ADR C 638539882 43 1,700 SH   OTR 1 0 1,700 0
NATIONAL WESTMINSTER BK PLC SPON ADR C 638539882 230 8,850 SH   SOLE 8,850 0 0
NETFLIX INC COM 64110L106 1,708 4,100 SH Call OTR 1 0 4,100 0
NETFLIX INC COM 64110L106 17,043 40,900 SH Call SOLE 40,900 0 0
NETFLIX INC COM 64110L106 24,608 59,054 SH   SOLE 59,054 0 0
NETFLIX INC COM 64110L106 1,519 3,643 SH   OTR 1 0 3,643 0
NEUROCRINE BIOSCIENCES INC COM 64125C109 1,032 26,000 SH   SOLE 26,000 0 0
NU SKIN ENTERPRISES INC CL A 67018T105 539 8,964 SH   OTR 1 0 8,964 0
NU SKIN ENTERPRISES INC CL A 67018T105 2,440 40,536 SH   SOLE 40,536 0 0
NXP SEMICONDUCTORS N V COM N6596X109 1,053 10,503 SH   OTR 1 0 10,503 0
NXP SEMICONDUCTORS N V COM N6596X109 13,448 133,997 SH   SOLE 133,997 0 0
PAMPA ENERGIA S A SPONS ADR LVL I 697660207 797 45,088 SH   OTR 1 0 45,088 0
PAMPA ENERGIA S A SPONS ADR LVL I 697660207 3,298 186,650 SH   SOLE 186,650 0 0
PHILLIPS 66 COM 718546104 826 10,506 SH   OTR 1 0 10,506 0
PHILLIPS 66 COM 718546104 5,385 68,513 SH   SOLE 68,513 0 0
RED HAT INC COM 756577102 3,446 45,500 SH Call SOLE 45,500 0 0
RED HAT INC COM 756577102 3,742 49,400 SH   SOLE 49,400 0 0
REGIONS FINL CORP NEW COM 7591EP100 1,966 208,100 SH   SOLE 208,100 0 0
ROYAL BK SCOTLAND GROUP PLC ADR PREF SHS Q 780097754 821 32,625 SH   SOLE 32,625 0 0
ROYAL BK SCOTLAND GROUP PLC ADR PREF SHS Q 780097754 248 9,833 SH   OTR 1 0 9,833 0
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF M 780097796 30 1,200 SH   OTR 1 0 1,200 0
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF M 780097796 179 7,142 SH   SOLE 7,142 0 0
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF S 780097739 364 14,525 SH   SOLE 14,525 0 0
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF S 780097739 48 1,875 SH   OTR 1 0 1,875 0
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF T 780097713 659 25,800 SH   SOLE 25,800 0 0
ROYAL BK SCOTLAND GROUP PLC SP ADR PREF T 780097713 111 4,375 SH   OTR 1 0 4,375 0
ROYAL BK SCOTLAND GROUP PLC SPON ADR F 780097804 24 875 SH   OTR 1 0 875 0
ROYAL BK SCOTLAND GROUP PLC SPON ADR F 780097804 118 4,524 SH   SOLE 4,524 0 0
SEADRILL LIMITED SHS G7945E105 1,216 130,000 SH Put SOLE 130,000 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 3,848 159,600 SH   SOLE 159,600 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 40,264 1,670,000 SH Put SOLE 1,670,000 0 0
SPDR SERIES TRUST S&P HOMEBUILD 78464A888 120,952 3,281,348 SH   SOLE 3,281,348 0 0
SPDR SERIES TRUST S&P HOMEBUILD 78464A888 7,531 204,322 SH   OTR 1 0 204,322 0
SPDR SERIES TRUST S&P RETAIL ETF 78464A714 12,161 120,365 SH   SOLE 120,365 0 0
TELECOM ARGENTINA S A SPON ADR REP B 879273209 3,462 152,422 SH   SOLE 152,422 0 0
TELECOM ARGENTINA S A SPON ADR REP B 879273209 767 33,707 SH   OTR 1 0 33,707 0
TESLA MTRS INC COM 88160R101 8,589 45,500 SH Call SOLE 45,500 0 0
TESORO CORP COM 881609101 1,004 11,000 SH   SOLE 11,000 0 0
TETRAPHASE PHARMACEUTICALS I COM 88165N105 597 16,299 SH   OTR 1 0 16,299 0
TETRAPHASE PHARMACEUTICALS I COM 88165N105 14,542 396,901 SH   SOLE 396,901 0 0
TG THERAPEUTICS INC COM 88322Q108 2,321 150,000 SH Call SOLE 150,000 0 0
TRANSPORTADORA DE GAS SUR SPON ADR B 893870204 299 56,039 SH   OTR 1 0 56,039 0
TRANSPORTADORA DE GAS SUR SPON ADR B 893870204 1,351 253,409 SH   SOLE 253,409 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 353 1,775 SH   OTR 1 0 1,775 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 17,324 87,225 SH   SOLE 87,225 0 0
VALERO ENERGY CORP NEW COM 91913Y100 10,269 161,405 SH   SOLE 161,405 0 0
VALERO ENERGY CORP NEW COM 91913Y100 2,089 32,830 SH   OTR 1 0 32,830 0
WAL-MART STORES INC COM 931142103 1,481 18,000 SH   SOLE 18,000 0 0
WESTERN DIGITAL CORP COM 958102105 3,822 42,000 SH   SOLE 42,000 0 0
WESTERN DIGITAL CORP COM 958102105 32,218 354,000 SH Call SOLE 354,000 0 0
WESTERN REFNG INC COM 959319104 673 13,619 SH   OTR 1 0 13,619 0
WESTERN REFNG INC COM 959319104 4,346 88,005 SH   SOLE 88,005 0 0
YPF SOCIEDAD ANONIMA SPON ADR CL D 984245100 4,667 170,012 SH   SOLE 170,012 0 0
YPF SOCIEDAD ANONIMA SPON ADR CL D 984245100 1,032 37,597 SH   OTR 1 0 37,597 0