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 8,287 45,149 SH   SOLE   0 0 45,149
ALPHABET INC-CL A (COMMON STOCK) CAP STK CL A 02079K305 22 21 SH   SOLE   0 0 21
ALPHABET INC-CL C CAP STK CL C 02079K107 8,013 7,766 SH   SOLE   0 0 7,766
AMAZON.COM, INC COM 023135106 11,221 7,753 SH   SOLE   0 0 7,753
ANHEUSER-BUSCH INBEV SPN ADR Sponsored ADR 03524A108 48,231 438,706 SH   SOLE   0 0 438,706
APPLE INC COM 037833100 9,970 59,421 SH   SOLE   0 0 59,421
BLACKBERRY LTD COM 09228F103 8 669 SH   SOLE   0 0 669
BRF SA-ADR Sponsored ADR 10552T107 28 4,000 SH   SOLE   0 0 4,000
CISCO SYSTEMS COM 17275R102 63 1,470 SH   SOLE   0 0 1,470
COCA-COLA COM 191216100 51 1,180 SH   SOLE   0 0 1,180
EMBRAER SA ADR SP ADR REP 4 COM 29082A107 55 2,100 SH   SOLE   0 0 2,100
FACEBOOK INC-A CL A 30303M102 7,737 48,420 SH   SOLE   0 0 48,420
FINANCIAL SELECT SECTOR SPDR ETF SBI INT-FINL 81369Y605 44,599 1,617,669 SH   SOLE   0 0 1,617,669
GENERAL ELECTRIC CO COM 369604103 23 1,700 SH   SOLE   0 0 1,700
GERDAU SA-ADR SPON ADR REP PFD 373737105 96 20,670 SH   SOLE   0 0 20,670
ISHARES MSCI BRAZIL CAPPED ETF MSCI BRAZIL ETF 464286400 29,521 657,779 SH   SOLE   0 0 657,779
ISHARES MSCI EMRG MARKET ETF MSCI EMG MKT ETF 464287234 3,957 81,951 SH   SOLE   0 0 81,951
ISHARES MSCI EUROZONE ETF MSCI EURZONE ETF 464286608 7,425 171,273 SH   SOLE   0 0 171,273
ISHARES MSCI JAPAN ETF MSCI JPN ETF NEW 46434G822 627 10,340 SH   SOLE   0 0 10,340
JOHNSON & JOHNSON COM 478160104 54 425 SH   SOLE   0 0 425
KRAFT HEINZ CO COM 500754106 39,216 629,579 SH   SOLE   0 0 629,579
MICROSOFT CORP COM 594918104 9,225 101,073 SH   SOLE   0 0 101,073
MONDELEZ INTL INC-A CL A 609207105 294 7,050 SH   SOLE   0 0 7,050
NVIDIA CORPORATION COM 67066G104 528 2,279 SH   SOLE   0 0 2,279
PETROBRAS - COMMON ADR SPONSORED ADR 71654V408 415 29,374 SH   SOLE   0 0 29,374
PFIZER INC COM 717081103 70 1,960 SH   SOLE   0 0 1,960
ROYAL DUTCH SHELL PLC-ADR SPONSORED ADR A 780259206 22 345 SH   SOLE   0 0 345
SPDR S&P 500 ETF TRUST TR UNIT 78462F103 52,796 200,632 SH   SOLE   0 0 200,632
SPDR S&P BANK ETF S&P BK ETF 78464A797 29 600 SH   SOLE   0 0 600
TOTAL SA-SPON ADR SPONSORED ADR 89151E109 24 410 SH   SOLE   0 0 410
UNITED STATES STEEL CORP COM 912909108 32 900 SH   SOLE   0 0 900
VALE SA-SP ADR ADR 91912E105 2,522 198,257 SH   SOLE   0 0 198,257
VANGUARD FTSE EUROPE ETF FTSE EUROPE ETF 922042874 564 9,700 SH   SOLE   0 0 9,700
VANGUARD INFORMATION TECHNOLOGY ETF INF TECH ETF 92204A702 1,125 6,577 SH   SOLE   0 0 6,577
VISA INC COM CL A 92826C839 33 280 SH   SOLE   0 0 280
WALT DISNEY COM DISNEY 254687106 44 440 SH   SOLE   0 0 440
WELLS FARGO COM 949746101 177 3,380 SH   SOLE   0 0 3,380
WISDOMTREE EUROPE HEDGED EQUITY FUND ETF EUROPE HEDGED EQ 97717X701 559 8,916 SH   SOLE   0 0 8,916
WISDOMTREE JAPAN HEDGED EQUITY FUND ETF JAPN HEDGE EQT 97717W851 79 1,404 SH   SOLE   0 0 1,404