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
AENZA S.A.A SPONSORED ADS 00776D103 2,738 1,165,012 SH   SOLE   1,165,012 0 0
AENZA S.A.A SPONSORED ADS 00776D103 892 379,411 SH   DFND 1 379,411 0 0
AFYA LTD CL A COM G01125106 1,099 59,110 SH   DFND 1 59,110 0 0
AFYA LTD CL A COM G01125106 9,156 492,500 SH   SOLE   492,500 0 0
ALAMOS GOLD INC NEW COM CL A 011532108 611 78,203 SH   SOLE   78,203 0 0
AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 4,029 296,699 SH   SOLE   296,699 0 0
AZUL S A SPONSR ADR PFD 05501U106 5,152 255,200 SH   SOLE   255,200 0 0
BANCO BRADESCO S A SP ADR PFD NEW 059460303 2,080 442,200 SH   SOLE   442,200 0 0
BANCO BRADESCO S A SP ADR PFD NEW 059460303 829 176,400 SH Call SOLE   176,400 0 0
BANCO SANTANDER MEXICO SA SPONSORED ADS B 05969B103 793 144,143 SH   SOLE   144,143 0 0
ECOPETROL S A SPONSORED ADS 279158109 1,769 138,019 SH   SOLE   138,019 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 1,055 14,000 SH Call SOLE   14,000 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 226 3,000 SH   DFND 1 3,000 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 10,785 143,166 SH   SOLE   143,166 0 0
GLOBAL X FDS LITHIUM BTRY ETF 37954Y855 857 14,658 SH   SOLE   14,658 0 0
GRUPO AEROPORTUARIO DEL CENT SPON ADR 400501102 718 14,217 SH   SOLE   14,217 0 0
INVESCO QQQ TR UNIT SER 1 46090E103 3,510 11,000 SH Put SOLE   11,000 0 0
ISHARES INC MSCI BRAZIL ETF 464286400 49,281 1,473,200 SH Call SOLE   1,473,200 0 0
ISHARES INC MSCI BRAZIL ETF 464286400 57,431 1,716,900 SH Put SOLE   1,716,900 0 0
ISHARES INC MSCI CHILE ETF 464286640 206 6,000 SH Put SOLE   6,000 0 0
ISHARES INC MSCI MEXICO ETF 464286822 25,991 593,000 SH Put SOLE   593,000 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 1,866 40,000 SH Call SOLE   40,000 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 93 2,000 SH   SOLE   2,000 0 0
ISHARES TR MSCI EAFE ETF 464287465 5,463 72,000 SH Put SOLE   72,000 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 4,534 85,000 SH Put SOLE   85,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 17,454 79,000 SH Put SOLE   79,000 0 0
ITAU UNIBANCO HLDG S A SPON ADR REP PFD 465562106 667 134,100 SH   SOLE   134,100 0 0
ITAU UNIBANCO HLDG S A SPON ADR REP PFD 465562106 62 15,000 SH Call SOLE   15,000 0 0
LAUREATE EDUCATION INC CL A 518613203 2,754 202,682 SH   DFND 1 202,682 0 0
LAUREATE EDUCATION INC CL A 518613203 20,501 1,508,525 SH   SOLE   1,508,525 0 0
NEWMONT CORP COM 651639106 5,485 91,000 SH Call SOLE   91,000 0 0
PAGSEGURO DIGITAL LTD COM CL A G68707101 4,637 100,152 SH   SOLE   100,152 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 10,242 1,202,996 SH   SOLE   1,202,996 0 0
SELECT SECTOR SPDR TR ENERGY 81369Y506 1,962 40,000 SH Call SOLE   40,000 0 0
SENDAS DISTRIBUIDORA S A SPON ADS 81689T104 390 30,000 SH   SOLE   30,000 0 0
SOCIEDAD QUIMICA Y MINERA DE SPON ADR SER B 833635105 4,847 91,328 SH   SOLE   91,328 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 13,872 35,000 SH Put SOLE   35,000 0 0
VALE S A SPONSORED ADS 91912E105 6,947 399,720 SH   SOLE   399,720 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 3,458 106,400 SH Put SOLE   106,400 0 0
VASTA PLATFORM LTD CL A G9440A109 1,510 153,343 SH   DFND 1 153,343 0 0
VASTA PLATFORM LTD CL A G9440A109 15,091 1,532,082 SH   SOLE   1,532,082 0 0
XP INC CL A G98239109 586 15,550 SH   SOLE   15,550 0 0
XP INC CL A G98239109 565 15,000 SH Put SOLE   15,000 0 0
YAMANA GOLD INC COM 98462Y100 1,089 249,800 SH   SOLE   249,800 0 0