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
ISHARES TR MSCI EMG MKT ETF 464287234 61,550 1,376,339 SH   SOLE   1,376,339 0 0
ISHARES INC MSCI BRAZIL ETF 464286400 103,637 2,196,400 SH   SOLE   2,196,400 0 0
ISHARES TR CALL 464288903 21,233 450,000 SH Call SOLE   450,000 0 0
ISHARES TR PUT 464288953 47,185 1,000,000 SH Put SOLE   1,000,000 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 2,604 41,500 SH   SOLE   41,500 0 0
SELECT SECTOR SPDR TR CALL 81369Y909 54,548 538,000 SH Call SOLE   538,000 0 0
SELECT SECTOR SPDR TR PUT 81369Y959 54,548 538,000 SH Put SOLE   538,000 0 0
SELECT SECTOR SPDR TR CALL 81369Y907 51,229 410,000 SH Call SOLE   410,000 0 0
SELECT SECTOR SPDR TR PUT 81369Y957 51,229 410,000 SH Put SOLE   410,000 0 0