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
ADOBE SYSTEMS INCORPORATED COM 00724F101 6,015 12,569 SH   DFND   0 0 12,569
AGCO CORP COM 001084102 1,627 11,325 SH   DFND   0 0 11,325
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 12,027 52,589 SH   DFND   0 0 52,589
ALLEGION PUB LTD CO ORD SHS G0176J109 1,734 13,800 SH   DFND   0 0 13,800
ALLSTATE CORP COM 020002101 3,279 28,540 SH   DFND   0 0 28,540
ALPHABET INC CAP STK CL A 02079K305 20,974 10,115 SH   DFND   207 0 9,908
ALPHABET INC CAP STK CL C 02079K107 8,092 3,885 SH   DFND   0 0 3,885
AMAZON COM INC COM 023135106 11,651 3,730 SH   DFND   546 0 3,184
AMC ENTMT HLDGS INC CL A COM 00165C104 465 45,246 SH   DFND   0 0 45,246
APPLE INC COM 037833100 40,674 332,076 SH   DFND   250,483 0 81,593
APPLIED MATLS INC COM 038222105 4,008 30,000 SH   DFND   0 0 30,000
ARCO PLATFORM LTD COM CL A G04553106 4,658 182,215 SH   DFND   0 0 182,215
ASTRAZENECA PLC SPONSORED ADR 046353108 1,778 35,762 SH   DFND   0 0 35,762
BAIDU INC SPON ADR REP A 056752108 8,365 38,025 SH   DFND   0 0 38,025
BANCO BRADESCO S A SP ADR PFD NEW 059460303 37,864 8,056,108 SH   DFND   0 0 8,056,108
BEST BUY INC COM 086516101 120 1,043 SH   DFND   1,043 0 0
BLACKROCK INC COM 09247X101 2,714 3,600 SH   DFND   0 0 3,600
BOOKING HOLDINGS INC COM 09857L108 3,914 1,680 SH   DFND   0 0 1,680
BRF SA SPONSORED ADR 10552T107 3 579 SH   DFND   579 0 0
CAESARS ENTERTAINMENT INC NE COM 12769G100 1,384 15,825 SH   DFND   0 0 15,825
CHEVRON CORP NEW COM 166764100 97 924 SH   DFND   0 0 924
CHUBB LIMITED COM H1467J104 1,321 8,500 SH   DFND   0 0 8,500
COCA COLA CO COM 191216100 4,402 82,950 SH   DFND   0 0 82,950
COPA HOLDINGS SA CL A P31076105 1,586 19,500 SH   DFND   0 0 19,500
COSAN LTD SHS A G25343107 4,058 200,000 SH   DFND   0 0 200,000
DAQO NEW ENERGY CORP SPNSRD ADR NEW 23703Q203 1,548 20,500 SH   DFND   0 0 20,500
DEVON ENERGY CORP NEW COM 25179M103 2,470 113,049 SH   DFND   0 0 113,049
DISNEY WALT CO COM DISNEY 254687106 45,589 247,067 SH   DFND   247,067 0 0
EOG RES INC COM 26875P101 2,539 35,000 SH   DFND   0 0 35,000
EXXON MOBIL CORP COM 30231G102 94 1,692 SH   DFND   0 0 1,692
FACEBOOK INC CL A 30303M102 84,528 286,616 SH   DFND   200,000 0 86,616
FEDEX CORP COM 31428X106 3,360 11,828 SH   DFND   0 0 11,828
FIRST AMERN FINL CORP COM 31847R102 2,042 36,050 SH   DFND   0 0 36,050
FIRST HORIZON NATL CORP COM 320517105 2,241 132,500 SH   DFND   0 0 132,500
FREEPORT-MCMORAN INC CL B 35671D857 20,074 603,645 SH   DFND   0 0 603,645
GENERAL MTRS CO COM 37045V100 1,890 32,893 SH   DFND   0 0 32,893
GEOPARK LTD USD SHS G38327105 1,650 103,111 SH   DFND   0 0 103,111
GERDAU SA SPON ADR REP PFD 373737105 6,643 1,243,979 SH   DFND   0 0 1,243,979
GILEAD SCIENCES INC COM 375558103 518 8,019 SH   DFND   8,019 0 0
GLOBAL PMTS INC COM 37940X102 5,527 27,420 SH   DFND   0 0 27,420
GLOBAL X FDS GLOBAL X URANIUM 37954Y871 2,636 140,000 SH   DFND   0 0 140,000
GLOBANT S A COM L44385109 11,462 54,600 SH   DFND   0 0 54,600
GRUPO AEROPORTUARIO DEL SURE SPON ADR SER B 40051E202 2,571 14,300 SH   DFND   0 0 14,300
HDFC BANK LTD ADR REPS 3 SHS 40415F101 2,004 25,800 SH   DFND   0 0 25,800
ICICI BK LTD ADR 45104G104 3,949 246,362 SH   DFND   0 0 246,362
INFOSYS LTD SPONSORED ADR 456788108 211 11,258 SH   DFND   0 0 11,258
INTERCONTINENTAL EXCHANGE IN COM 45866F104 2,178 19,500 SH   DFND   0 0 19,500
INVESCO EXCHNG TRADED FD TR SOLAR ETF 46138G706 2,046 22,300 SH   DFND   0 0 22,300
ISHARES INC MSCI BRAZIL ETF 464286400 10,661 318,461 SH   DFND   0 0 318,461
ISHARES INC MSCI JPN ETF NEW 46434G822 6,907 100,628 SH   DFND   0 0 100,628
ISHARES INC MSCI PAC JP ETF 464286665 397 7,900 SH   DFND   0 0 7,900
ISHARES INC MSCI CDA ETF 464286509 3,562 104,600 SH   DFND   0 0 104,600
ISHARES INC MSCI MEXICO ETF 464286822 774 17,650 SH   DFND   0 0 17,650
ISHARES INC MSCI STH KOR ETF 464286772 2,198 24,500 SH   DFND   0 0 24,500
ISHARES INC CORE MSCI EMKT 46434G103 695 10,800 SH   DFND   0 0 10,800
ISHARES INC MSCI EM ASIA ETF 464286426 2,813 31,000 SH   DFND   0 0 31,000
ISHARES INC MSCI GERMANY ETF 464286806 62 1,852 SH   DFND   0 0 1,852
ISHARES INC MSCI EURZONE ETF 464286608 554 11,933 SH   DFND   0 0 11,933
ISHARES SILVER TRUST ISHARES 46428Q109 1,723 75,409 SH   DFND   0 0 75,409
ISHARES TR CALL 464287904 18 9,000 SH Call DFND   0 0 9,000
ISHARES TR CHINA LG-CAP ETF 464287184 15,479 331,731 SH   DFND   0 0 331,731
ISHARES TR MSCI EAFE ETF 464287465 1,252 16,500 SH   DFND   0 0 16,500
ISHARES TR MSCI EMG MKT ETF 464287234 243 5,190 SH   DFND   0 0 5,190
ISHARES TR PUT 464288951 32 1,750 SH Put DFND   0 0 1,750
ISHARES TR PUT 464287954 920 2,500 SH Put DFND   0 0 2,500
ISHARES TR RUSSELL 2000 ETF 464287655 1,347 6,098 SH   DFND   0 0 6,098
ISHARES TR MSCI ACWI ETF 464288257 5,184 54,478 SH   DFND   0 0 54,478
ISHARES TR MSCI EURO FL ETF 464289180 85 4,400 SH   DFND   0 0 4,400
ISHARES TR MSCI CHINA ETF 46429B671 3,922 48,000 SH   DFND   0 0 48,000
ISHARES TR JPMORGAN USD EMG 464288281 1,633 15,000 SH   DFND   0 0 15,000
ISHARES TR S&P 500 VAL ETF 464287408 4,167 29,500 SH   DFND   0 0 29,500
ISHARES TR SHORT TREAS BD 464288679 12,985 117,500 SH   DFND   0 0 117,500
ISHARES TR 10-20 YR TRS ETF 464288653 1,637 11,551 SH   DFND   0 0 11,551
ISHARES TR US TREAS BD ETF 46429B267 1,642 62,014 SH   DFND   0 0 62,014
ISHARES TR RUS 1000 VAL ETF 464287598 930 6,135 SH   DFND   0 0 6,135
JD.COM INC SPON ADR CL A 47215P106 2,530 30,000 SH   DFND   0 0 30,000
JOHNSON & JOHNSON COM 478160104 388 2,362 SH   DFND   2,362 0 0
KRANESHARES TR CALL 500767906 4 200 SH Call DFND   0 0 200
KRANESHARES TR CSI CHI INTERNET 500767306 5,345 70,000 SH   DFND   0 0 70,000
LAM RESEARCH CORP COM 512807108 3,869 6,500 SH   DFND   0 0 6,500
LAS VEGAS SANDS CORP COM 517834107 10,025 164,998 SH   DFND   0 0 164,998
LPL FINL HLDGS INC COM 50212V100 2,033 14,300 SH   DFND   0 0 14,300
MASTEC INC COM 576323109 2,108 22,500 SH   DFND   0 0 22,500
MERCADOLIBRE INC COM 58733R102 16,425 11,139 SH   DFND   0 0 11,139
MICRON TECHNOLOGY INC COM 595112103 5,557 63,000 SH   DFND   0 0 63,000
MICROSOFT CORP COM 594918104 16,956 71,699 SH   DFND   5,954 0 65,745
MORGAN STANLEY COM NEW 617446448 7,766 100,000 SH   DFND   0 0 100,000
NETFLIX INC COM 64110L106 10,775 20,441 SH   DFND   2,024 0 18,417
NEXTERA ENERGY INC COM 65339F101 466 6,158 SH   DFND   6,158 0 0
NIKE INC CL B 654106103 1,258 9,464 SH   DFND   228 0 9,236
NVIDIA CORP COM 67066G104 10,917 20,233 SH   DFND   1,179 0 19,054
OGE ENERGY CORP COM 670837103 3 100 SH   DFND   0 0 100
PAGSEGURO DIGITAL LTD COM CL A G68707101 1,404 30,322 SH   DFND   0 0 30,322
PARKER-HANNIFIN CORP COM 701094104 2,255 7,150 SH   DFND   0 0 7,150
PAYPAL HLDGS INC COM 70450Y103 185 762 SH   DFND   762 0 0
PETROLEO BRASILEIRO SA PETRO CALL 71654V908 10 1,483 SH Call DFND   0 0 1,483
PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101 81,113 9,497,981 SH   DFND   9,497,981 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 93,114 10,980,387 SH   DFND   10,920,387 0 60,000
PINNACLE FINL PARTNERS INC COM 72346Q104 2,421 27,310 SH   DFND   0 0 27,310
PIONEER NAT RES CO COM 723787107 492 3,100 SH   DFND   0 0 3,100
PROSHARES TR SHORT QQQ NEW 74347B714 8,861 630,000 SH   DFND   0 0 630,000
ROSS STORES INC COM 778296103 14,077 117,400 SH   DFND   0 0 117,400
S&P GLOBAL INC COM 78409V104 2,668 7,560 SH   DFND   0 0 7,560
SALESFORCE COM INC COM 79466L302 1,602 7,561 SH   DFND   0 0 7,561
SEA LTD ADR 81141R100 188 840 SH   DFND   0 0 840
SELECT SECTOR SPDR TR CALL 81369Y906 128 1,450 SH Call DFND   0 0 1,450
SELECT SECTOR SPDR TR CALL 81369Y905 179 2,350 SH Call DFND   0 0 2,350
SELECT SECTOR SPDR TR ENERGY 81369Y506 6,803 138,657 SH   DFND   0 0 138,657
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 1,145 33,632 SH   DFND   0 0 33,632
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 11,877 89,428 SH   DFND   0 0 89,428
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 7,723 45,950 SH   DFND   0 0 45,950
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 3,064 38,888 SH   DFND   0 0 38,888
SENSATA TECHNOLOGIES HLDNG P SHS G8060N102 422 7,282 SH   DFND   0 0 7,282
SERVICENOW INC COM 81762P102 562 1,124 SH   DFND   0 0 1,124
SIGNATURE BK NEW YORK N Y COM 82669G104 1,017 4,500 SH   DFND   0 0 4,500
SLACK TECHNOLOGIES INC COM CL A 83088V102 1,036 25,505 SH   DFND   0 0 25,505
SONY CORP SPONSORED ADR 835699307 200 1,886 SH   DFND   0 0 1,886
SOUTHERN COPPER CORP COM 84265V105 16,711 243,500 SH   DFND   0 0 243,500
SPDR GOLD TR GOLD SHS 78463V107 19,508 121,784 SH   DFND   0 0 121,784
SPDR INDEX SHS FDS ASIA PACIF ETF 78463X301 2,693 20,500 SH   DFND   0 0 20,500
SPDR S&P 500 ETF TR CALL 78462F903 1,871 750 SH Call DFND   0 0 750
SPDR S&P 500 ETF TR PUT 78462F953 1,895 3,710 SH Put DFND   0 0 3,710
SPDR SER TR S&P OILGAS EXP 78468R556 1,749 21,500 SH   DFND   0 0 21,500
STONECO LTD COM CL A G85158106 6,349 103,356 SH   DFND   0 0 103,356
SUNRUN INC COM 86771W105 3,278 54,200 SH   DFND   0 0 54,200
T MOBILE US INC COM 872590104 3,335 26,621 SH   DFND   0 0 26,621
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 192 1,621 SH   DFND   0 0 1,621
TESLA INC COM 88160R101 9,814 14,526 SH   DFND   0 0 14,526
TIMKEN CO COM 887389104 3,665 45,154 SH   DFND   0 0 45,154
TJX COS INC NEW COM 872540109 9,514 143,823 SH   DFND   0 0 143,823
TWITTER INC COM 90184L102 9,511 147,823 SH   DFND   0 0 147,823
VALERO ENERGY CORP NEW COM 91913Y100 1,504 21,000 SH   DFND   0 0 21,000
VANECK VECTORS ETF TR RUSSIA ETF 92189F403 516 20,000 SH   DFND   0 0 20,000
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 422,134 1,157,162 SH   DFND   0 0 1,157,162
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 3,670 57,730 SH   DFND   0 0 57,730
VANGUARD INTL EQUITY INDEX F TT WRLD ST ETF 922042742 17,482 179,688 SH   DFND   0 0 179,688
VERTIV HOLDINGS CO COM CL A 92537N108 2,510 125,512 SH   DFND   0 0 125,512
VISA INC COM CL A 92826C839 9,318 44,008 SH   DFND   0 0 44,008
WISDOMTREE TR INDIA ERNGS FD 97717W422 1,103 35,000 SH   DFND   0 0 35,000
WORKDAY INC CL A 98138H101 2,857 11,500 SH   DFND   0 0 11,500
ZOETIS INC CL A 98978V103 4,384 27,651 SH   DFND   0 0 27,651
ZOOM VIDEO COMMUNICATIONS IN CL A 98980L101 1,146 3,568 SH   DFND   3,568 0 0