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
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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
BANCOLOMBIA S A SPON ADR PREF 05968L102   2,217,548 70,376 SH   SOLE   70,376 0 0
CEMEX SAB DE CV SPON ADR NEW 151290889   4,048,031 717,736 SH   SOLE   717,736 0 0
CONTROLADORA VUELA COMP DE A SPON ADR RP 10 21240E105   2,081,206 279,732 SH   SOLE   279,732 0 0
ISHARES INC MSCI AUST ETF 464286103   834,814 34,988 SH   SOLE   34,988 0 0
ISHARES INC MSCI CDA ETF 464286509   1,797,582 44,605 SH   SOLE   44,605 0 0
ISHARES INC MSCI STH AFR ETF 464286780   786,106 18,757 SH   SOLE   18,757 0 0
ISHARES INC MSCI STH KOR ETF 464286772   610,120 11,989 SH   SOLE   11,989 0 0
ISHARES TR CORE S&P500 ETF 464287200   5,121,516 8,700 SH   SOLE   8,700 0 0
ISHARES TR CORE US AGGBD ET 464287226   7,277,384 75,102 SH   SOLE   75,102 0 0
ISHARES TR IBOXX HI YD ETF 464288513   352,431 4,481 SH   SOLE   4,481 0 0
ISHARES TR LATN AMER 40 ETF 464287390   1,456,193 69,641 SH   SOLE   69,641 0 0
ISHARES TR MBS ETF 464288588   263,397 2,873 SH   SOLE   2,873 0 0
ISHARES TR MSCI ACWI ETF 464288257   5,528,258 47,049 SH   SOLE   47,049 0 0
ISHARES TR MSCI AC ASIA ETF 464288182   1,893,859 26,238 SH   SOLE   26,238 0 0
ISHARES TR MSCI CHINA ETF 46429B671   1,830,586 39,065 SH   SOLE   39,065 0 0
ISHARES TR MSCI EMG MKT ETF 464287234   556,499 13,307 SH   SOLE   13,307 0 0
ISHARES TR MSCI INDIA ETF 46429B598   619,415 11,767 SH   SOLE   11,767 0 0
ISHARES TR MSCI SAUDI ARBIA 46434V423   1,036,519 25,380 SH   SOLE   25,380 0 0
ISHARES TR MSCI UAE ETF 46434V761   395,172 24,008 SH   SOLE   24,008 0 0
MERCADOLIBRE INC COM 58733R102   22,057,389 12,989 SH   SOLE   12,989 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408   11,163,535 868,082 SH   SOLE   868,082 0 0
SOCIEDAD QUIMICA Y MINERA DE SPON ADR SER B 833635105   4,351,965 119,691 SH   SOLE   119,691 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103   3,539,337 6,039 SH   SOLE   6,039 0 0
VALE S A SPONSORED ADS 91912E105   14,319,675 1,614,394 SH   SOLE   1,614,394 0 0
VANGUARD BD INDEX FDS TOTAL BND MRKT 921937835   2,031,458 28,250 SH   SOLE   28,250 0 0