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
ALIBABA GROUP HOLDING SP ADR SPONSORED ADS 01609W102 40,957 298,806 SH   SOLE   298,806 0 0
CREDICORP LTD COM USD5 COM G2519Y108 5,859 26,430 SH   SOLE   26,430 0 0
NEW ORIENTAL EDUCATIO SP ADR SPON ADR 647581107 1,405 25,642 SH   SOLE   25,642 0 0
ISHARES MSCI INDONESIA ETF MSCI INDONIA ETF 46429B309 55 2,215 SH   SOLE   2,215 0 0
ISHARES MSCI MALAYSIA ETF MSCI MLY ETF NEW 46434G814 54 1,820 SH   SOLE   1,820 0 0
ISHARES MSCI MEXICO ETF MSCI MEXICO ETF 464286822 2,555 62,055 SH   SOLE   62,055 0 0
ISHARES MSCI BRAZIL ETF MSCI BRAZIL ETF 464286400 8,819 230,851 SH   SOLE   230,851 0 0
ISHARES CHINA LARGE CAP ETF CHINA LG-CAP ETF 464287184 2,036 52,107 SH   SOLE   52,107 0 0
HUAZHU GROUP LTD ADR SPONSORED ADS 44332N106 2,553 89,189 SH   SOLE   89,189 0 0
ISHARES MSCI INDIA ETF MSCI INDIA ETF 46429B598 824 24,730 SH   SOLE   24,730 0 0
JD COM INC SPON ADR CL A 47215P106 2,721 130,000 SH   SOLE   130,000 0 0
ADECOAGRO S A COM L00849106 442 63,467 SH   SOLE   63,467 0 0
NETEASE INC ADR SPONSORED ADR 64110W102 3,974 16,882 SH   SOLE   16,882 0 0
PINDUODUO INC ADR SPONSORED ADS 722304102 9,425 420,000 SH   SOLE   420,000 0 0
SILICON MOTION TECHNOLOGY CO SPONSORED ADR 82706C108 279 8,091 SH   SOLE   8,091 0 0
TAL ED GROUP SPONSORED ADS 874080104 2,572 96,417 SH   SOLE   96,417 0 0
ISHARES MSCI THAILAND CAPPED MSCI THAILND ETF 464286624 117 1,415 SH   SOLE   1,415 0 0
ACTIVISION BLIZZARD INC COM 00507V109 285 6,110 SH   SOLE   6,110 0 0
ADOBE SYSTEMS INC COM 00724F101 951 4,204 SH   SOLE   4,204 0 0
AIR PRODUCTS and CHEMICALS INC COM 009158106 658 4,111 SH   SOLE   4,111 0 0
AMAZON.COM INC COM 023135106 643 428 SH   SOLE   428 0 0
AMETEK INC COM 031100100 894 13,206 SH   SOLE   13,206 0 0
ANTHEM INC COM 036752103 949 3,613 SH   SOLE   3,613 0 0
APPLE INC COM 037833100 1,059 6,713 SH   SOLE   6,713 0 0
AUTODESK INC COM 052769106 397 3,086 SH   SOLE   3,086 0 0
BANCO MACRO SA SPON ADR B 05961W105 1,955 44,907 SH   SOLE   44,907 0 0
BANCOLOMBIA S A SPON ADR PREF 05968L102 2,767 71,534 SH   SOLE   71,534 0 0
BIOGEN INC COM 09062X103 534 1,773 SH   SOLE   1,773 0 0
BLACKROCK INC COM 09247X101 1,755 4,468 SH   SOLE   4,468 0 0
BOOKING HLDGS INC COM 09857L108 978 568 SH   SOLE   568 0 0
BOSTON SCIENTIFIC CORP COM 101137107 531 15,027 SH   SOLE   15,027 0 0
BROADCOM INC COM 11135F101 826 3,247 SH   SOLE   3,247 0 0
CIGNA CORP NEW COM 125523100 759 3,995 SH   SOLE   3,995 0 0
CSX CORP COM 126408103 682 10,977 SH   SOLE   10,977 0 0
CVS HEALTH CORP COM 126650100 629 9,607 SH   SOLE   9,607 0 0
CATERPILLAR INC COM 149123101 431 3,393 SH   SOLE   3,393 0 0
CONOCOPHILLIPS COM 20825C104 2,137 34,273 SH   SOLE   34,273 0 0
DXC TECHNOLOGY CO COM 23355L106 730 13,733 SH   SOLE   13,733 0 0
DOWDUPONT INC COM 26078J100 348 6,504 SH   SOLE   6,504 0 0
ELANCO ANIMAL INC COM 28414H103 142 4,492 SH   SOLE   4,492 0 0
ELECTRONIC ARTS INC COM 285512109 605 7,671 SH   SOLE   7,671 0 0
EMPRESA DIST Y COMERCIAL NOR SPON ADR 29244A102 3,859 142,604 SH   SOLE   142,604 0 0
FIDELITY NATIONAL INFO COM 31620M106 3,837 37,418 SH   SOLE   37,418 0 0
GILEAD SCIENCES INC COM 375558103 749 11,971 SH   SOLE   11,971 0 0
GRUPO FINANCIERO GALICIA S A SP ADR 10 SH B 399909100 2,079 75,805 SH   SOLE   75,805 0 0
GRUPO SUPERVIELLE S A SPONSORED ADR 40054A108 1,823 216,927 SH   SOLE   216,927 0 0
HALLIBURTON CO COM 406216101 1,470 55,322 SH   SOLE   55,322 0 0
HARTFORD FINANCIAL SERV COM 416515104 3,315 74,571 SH   SOLE   74,571 0 0
HILTON WORLD HLD COM 43300A203 1,127 15,701 SH   SOLE   15,701 0 0
HOME DEPOT INC COM 437076102 1,688 9,822 SH   SOLE   9,822 0 0
INTUIT INC COM 461202103 1,136 5,771 SH   SOLE   5,771 0 0
IRSA PROPIEDADES COMERCIALES SPONSORED ADR 463588103 5,729 284,645 SH   SOLE   284,645 0 0
KOHLS CORP COM 500255104 412 6,215 SH   SOLE   6,215 0 0
LILLY ELI COM 532457108 1,079 9,328 SH   SOLE   9,328 0 0
MERCK CO INC COM 58933Y105 3,039 39,769 SH   SOLE   39,769 0 0
MICROSOFT COM COM 594918104 1,507 14,837 SH   SOLE   14,837 0 0
NETFLIX COM INC COM 64110L106 326 1,217 SH   SOLE   1,217 0 0
NORFOLK SOUTHERN CORP COM 655844108 661 4,423 SH   SOLE   4,423 0 0
NVIDIA CORP COM 67066G104 198 1,482 SH   SOLE   1,482 0 0
PTC INC COM 69370C100 619 7,470 SH   SOLE   7,470 0 0
PAYPAL HLDGS INC COM 70450Y103 734 8,726 SH   SOLE   8,726 0 0
PIMCO ETF TR ENHAN SHRT MA AC 72201R833 40,480 400,989 SH   SOLE   400,989 0 0
SALESFORCE.COM INC COM 79466L302 1,094 7,984 SH   SOLE   7,984 0 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 810 16,033 SH   SOLE   16,033 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 4,953 97,558 SH   SOLE   97,558 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 4,117 172,858 SH   SOLE   172,858 0 0
SELECT SECTOR SPDR TR COMMUNICATION 81369Y852 3,402 82,402 SH   SOLE   82,402 0 0
SELECT SECTOR SPDR TR RL EST SEL SEC 81369Y860 1,976 63,727 SH   SOLE   63,727 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 2,222 42,000 SH   SOLE   42,000 0 0
SERVICENOW INC COM 81762P102 721 4,047 SH   SOLE   4,047 0 0
TJX COS INC NEW COM 872540109 1,270 28,383 SH   SOLE   28,383 0 0
T MOBILE US INC COM 872590104 1,878 29,518 SH   SOLE   29,518 0 0
TAKE TWO INTERACTIVE SOFTWAR COM 874054109 329 3,193 SH   SOLE   3,193 0 0
TARGET CORP COM 87612E106 747 11,307 SH   SOLE   11,307 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 1,082 4,836 SH   SOLE   4,836 0 0
TRANSPORTADORA DE GAS SUR SPON ADR B 893870204 7,725 530,663 SH   SOLE   530,663 0 0
UNION PACIFIC CORP COM 907818108 868 6,278 SH   SOLE   6,278 0 0
UNITED CONTI COM 910047109 605 7,227 SH   SOLE   7,227 0 0
UNITEDHEALTH GROUP INC COM 91324P102 1,108 4,447 SH   SOLE   4,447 0 0
VIPSHOP HOLDINGS LTD ADR SPONSORED ADR 92763W103 3,684 674,800 SH   SOLE   674,800 0 0
YANDEX N V SHS CLASS A N97284108 1,383 50,580 SH   SOLE   50,580 0 0
YUM CHINA HOLDINGS INC COM 98850P109 7,147 213,152 SH   SOLE   213,152 0 0
ZTO EXPRESS CAYMAN INC ADR SPONSORED ADR 98980A105 2,117 133,714 SH   SOLE   133,714 0 0