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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
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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
GRUPO TELEVISA SA ADR ADR 40049J206 9,832 838,200 SH   SOLE   838,200 0 0
AVON PRODS INC COM STK COM CL A 054303102 36,537 6,478,181 SH   SOLE   6,478,181 0 0
CREDICORP LTD COM COM G2519Y108 3,197 15,000 SH   SOLE   15,000 0 0
CEMEX SAB DE CV ADR SPONSORED ADR 151290889 5,670 1,500,000 SH   SOLE   1,500,000 0 0
BANCO SANTANDER MEXICO ADR ADR 05969B103 13,797 2,034,950 SH   SOLE   2,034,950 0 0
CIA CERVECERIAS UNIDAS SA CERV ADR COM 204429104 7,979 420,600 SH   SOLE   420,600 0 0
ULTRAPAR PARTICIPACOES SA ADR ETF 90400P101 3,205 511,949 SH   SOLE   511,949 0 0
GRUPO AEROPORTUARIO DEL SUREST ADR CL A 40051E202 2,249 12,000 SH   SOLE   12,000 0 0
TMOBILE US INC COM STK MSCI INDIA ETF 872590104 60,890 776,466 SH   SOLE   776,466 0 0
SOCIEDAD QUIMICA Y MINERA DE C ADR PUT 833635105 2,215 83,000 SH   SOLE   83,000 0 0
BP AMOCO PLC ADR ADR 055622104 15,196 402,653 SH   SOLE   402,653 0 0
PETROLEO BRASILEIRO SA PETROBR ADR SPONSORED ADR 71654V101 3,028 202,959 SH   SOLE   202,959 0 0
GOL LINHAS AEREAS INTELIGENTES ADR ADR 38045R206 1,755 97,108 SH   SOLE   97,108 0 0
ENEL CHILE SA ADR 29278D105 3,864 813,464 SH   SOLE   813,464 0 0
TERNIUM SA ADR CL A 880890108 2,200 100,000 SH   SOLE   100,000 0 0
INDUSTRIAL SELECT SECT SPDR COM 81369Y704 29,411 361,000 SH   SOLE   361,000 0 0
COCA COLA FEMSA SAB DE CV ADR ADR 191241108 6,668 110,000 SH   SOLE   110,000 0 0
ISHARES MSCI EMERGING MARKETS ETF ADR 464287234 65,735 1,465,000 SH   SOLE   1,465,000 0 0
EMBRAER S A ADR SPONSORED ADR 29082A107 10,297 528,345 SH   SOLE   528,345 0 0
ARAMARK COM STK ADR 03852U106 48,723 1,122,654 SH   SOLE   1,122,654 0 0
RIO TINTO PLC ADR UNIT 10/12/2023 767204100 41,239 694,733 SH   SOLE   694,733 0 0
ADR TIM PARTICIPACOES SA COM STK COM 88706P205 23,802 1,245,502 SH   SOLE   1,245,502 0 0
COPA HOLDINGS SA COM STK ADR P31076105 4,864 45,000 SH   SOLE   45,000 0 0
LIV CAPITAL ACQUISITION CORP SPONSORED ADR G5510C124 3,018 300,000 SH   SOLE   300,000 0 0
ENERGY SELECT SECTOR SPDR COM 81369Y506 4,362 72,650 SH   SOLE   72,650 0 0
DD3 ACQUISITION CORP SPONSORED ADS G2692M103 2,900 283,777 SH   SOLE   283,777 0 0
XP INC COM STK ADR G98239109 21,427 556,248 SH   SOLE   556,248 0 0
VALE SA ADR ADR 91912E105 40,178 3,043,773 SH   SOLE   3,043,773 0 0
LOWES COS INC COM STK PUT 548661107 58,506 488,523 SH   SOLE   488,523 0 0
ROYAL DUTCH SHELL PLC ADR SHS A 780259206 44,507 754,613 SH   SOLE   754,613 0 0
BANCO BRADESCO SA BRAD ADR SPONSORED ADS 059460303 29,325 3,276,563 SH   SOLE   3,276,563 0 0
PUT S 100 @ 6 EXP 01172020 ADR 99O1CNM23 3,626 39,925 SH   SOLE   39,925 0 0
SPRINT CORP ADR 85207U105 20,785 3,989,390 SH   SOLE   3,989,390 0 0
COMPANHIA SIDERURGICA NACIONAL ADR SPONSORED ADS 20440W105 1,052 304,833 SH   SOLE   304,833 0 0
BHP BILLITON LTD SPON ADR SPONSORED ADS 088606108 2,895 52,916 SH   SOLE   52,916 0 0
BANCO SANTANDER CEN SPON ADR ADR 05964H105 7,942 1,918,256 SH   SOLE   1,918,256 0 0