The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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| 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 |
| AMERICAN EXPRESS CO CMN | COM | 025816109 | 3,256 | 35,000 | SH | SOLE | 35,000 | 0 | 0 | ||
| BANCO SANTANDER (BRASIL) SA ADR CMN | COM | 05967A107 | 2,748 | 547,361 | SH | SOLE | 547,361 | 0 | 0 | ||
| BANK OF AMERICA CORP CMN | COM | 060505104 | 7,997 | 447,000 | SH | SOLE | 447,000 | 0 | 0 | ||
| BOEING COMPANY CMN | COM | 097023105 | 2,990 | 23,000 | SH | SOLE | 23,000 | 0 | 0 | ||
| BRASKEM SA ADR CMN | COM | 105532105 | 3,006 | 232,868 | SH | SOLE | 232,868 | 0 | 0 | ||
| CAPITAL ONE FINANCIAL CORP CMN | COM | 14040H105 | 5,531 | 67,000 | SH | SOLE | 67,000 | 0 | 0 | ||
| CEMEX, SAB DE CV SPONSORED ADR CMN | COM | 151290889 | 18,278 | 1,793,745 | SH | SOLE | 1,793,745 | 0 | 0 | ||
| CITIGROUP INC CMN | COM | 172967424 | 3,005 | 55,539 | SH | SOLE | 55,539 | 0 | 0 | ||
| COMPANHIA DE SANEAMENTO BASICO DO ESTADO DE SAO PAULO ADR | COM | 20441A102 | 1,415 | 225,000 | SH | SOLE | 225,000 | 0 | 0 | ||
| DISCOVER FINANCIAL SERVICES CMN | COM | 254709108 | 4,656 | 71,100 | SH | SOLE | 71,100 | 0 | 0 | ||
| FLUOR CORPORATION CMN | COM | 343412102 | 7,882 | 130,000 | SH | SOLE | 130,000 | 0 | 0 | ||
| GERDAU SA SPON ADR SPONSORED ADR CMN CLASS | COM | 373737105 | 1,224 | 344,859 | SH | SOLE | 344,859 | 0 | 0 | ||
| GOOGLE INC CMN CLASS C | COM | 38259P706 | 6,317 | 12,000 | SH | SOLE | 12,000 | 0 | 0 | ||
| GRUPO FINANCIERO SANTANDER MEXICO, SAB DE CV SPONSORED ADR CMN | COM | 40053C105 | 1,816 | 175,263 | SH | SOLE | 175,263 | 0 | 0 | ||
| INTERNATIONAL PAPER CO CMN | COM | 460146103 | 3,617 | 67,500 | SH | SOLE | 67,500 | 0 | 0 | ||
| ISHARES MSCI MEXICO CAPPED ETF tock Exchange | ETF | 464286822 | 13,933 | 234,610 | SH | SOLE | 234,610 | 0 | 0 | ||
| ISHARES MSCI ALLCOUNTRY ASIA EXJAPAN ETF | ETF | 464288182 | 43,942 | 721,188 | SH | SOLE | 721,188 | 0 | 0 | ||
| ITAU UNIBANCO BANCO HLDNG SA SPONSORED ADR CMN | COM | 465562106 | 15,453 | 1,187,846 | SH | SOLE | 1,187,846 | 0 | 0 | ||
| JPMORGAN CHASE CO CMN | COM | 46625H100 | 8,014 | 128,057 | SH | SOLE | 128,057 | 0 | 0 | ||
| KAPSTONE PAPER AND PACKAGING CORPORATION CMN | COM | 48562P103 | 3,752 | 128,000 | SH | SOLE | 128,000 | 0 | 0 | ||
| KEYCORP CMN | COM | 493267108 | 2,433 | 175,000 | SH | SOLE | 175,000 | 0 | 0 | ||
| OI SA SPONSORED ADR CMN | COM | 670851302 | 5,475 | 1,634,359 | SH | SOLE | 1,634,359 | 0 | 0 | ||
| PETROBRAS ENERGIA SA SPONSORED ADR CMN | COM | 71646J109 | 7,375 | 1,492,991 | SH | SOLE | 1,492,991 | 0 | 0 | ||
| PETROLEO BRASILEIRO SA SPON ADR | COM | 71654V101 | 33,188 | 4,378,384 | SH | SOLE | 4,378,384 | 0 | 0 | ||
| PRUDENTIAL FINANCIAL INC CMN | COM | 744320102 | 5,066 | 56,000 | SH | SOLE | 56,000 | 0 | 0 | ||
| SPDR SP RETAIL ETF ETF | ETF | 78464A714 | 15,554 | 162,000 | SH | SOLE | 162,000 | 0 | 0 | ||
| AMEX CONSUMER DISCRETIONARY SELECT SECTOR 'SPDR' FUND | ETF | 81369Y407 | 15,368 | 213,000 | SH | SOLE | 213,000 | 0 | 0 | ||
| TECHNOLOGY SELECT INDEX 'SPDR' | ETF | 81369Y803 | 9,759 | 236,000 | SH | SOLE | 236,000 | 0 | 0 | ||
| TIM PARTICIPACOES SA SPONSORED ADR CMN | COM | 88706P205 | 2,243 | 101,006 | SH | SOLE | 101,006 | 0 | 0 | ||
| US BANCORP CMN | COM | 902973304 | 2,427 | 54,000 | SH | SOLE | 54,000 | 0 | 0 | ||
| WELLS FARGO CO (NEW) CMN | COM | 949746101 | 5,318 | 97,000 | SH | SOLE | 97,000 | 0 | 0 | ||
| ARCOS DORADOS HOLDINGS INC CMN | COM | G0457F107 | 4,346 | 803,290 | SH | SOLE | 803,290 | 0 | 0 | ||
| COSAN LIMITED CMN CLASS A | COM | G25343107 | 24,842 | 3,205,479 | SH | SOLE | 3,205,479 | 0 | 0 | ||