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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
58 COM INC SPON ADR REP A 31680Q104   1,861 39,048 SH   SOLE   39,048 0 0
ADVANCE AUTO PARTS INC COM 00751Y106   1,491 10,000 SH   SOLE   10,000 0 0
AGRIUM INC COM 008916108   1,747 19,264 SH   SOLE   19,264 0 0
ALBEMARLE CORP COM 012653101   855 10,000 SH   SOLE   10,000 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102   59,937 566,564 SH   SOLE   566,564 0 0
AMBEV SA SPONSORED ADR 02319V103   361 59,200 SH   SOLE   59,200 0 0
AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105   10,192 890,923 SH   SOLE   890,923 0 0
APPLE INC COM 037833100   5,653 50,000 SH Call SOLE   50,000 0 0
BAIDU INC SPON ADR REP A 056752108   24,902 136,774 SH   SOLE   136,774 0 0
BANCO BRADESCO S A SP ADR PFD NEW 059460303   628 69,249 SH   SOLE   69,249 0 0
BANCO SANTANDER CHILE NEW SP ADR REP COM 05965X109   269 12,987 SH   SOLE   12,987 0 0
BARCLAYS BK PLC IPMS INDIA ETN 06739F291   5,138 74,213 SH   SOLE   74,213 0 0
BARCLAYS BK PLC IPATH S&P500 VIX 06740Q252   34,070 1,000,000 SH Put SOLE   1,000,000 0 0
BORGWARNER INC COM 099724106   440 12,500 SH   SOLE   12,500 0 0
BRF SA SPONSORED ADR 10552T107   173 10,148 SH   SOLE   10,148 0 0
CEMEX SAB DE CV SPON ADR NEW 151290889   4,610 580,614 SH   SOLE   580,614 0 0
CF INDS HLDGS INC COM 125269100   959 39,390 SH   SOLE   39,390 0 0
CHESAPEAKE ENERGY CORP COM 165167107   1,014 161,700 SH   SOLE   161,700 0 0
CHINA BIOLOGIC PRODS INC COM 16938C106   4,979 40,000 SH   SOLE   40,000 0 0
CHINA BIOLOGIC PRODS INC COM 16938C106   1,245 10,000 SH Call SOLE   10,000 0 0
CHINA LIFE INS CO LTD SPON ADR REP H 16939P106   1,592 121,713 SH   SOLE   121,713 0 0
CHINA MOBILE LIMITED SPONSORED ADR 16941M109   5,200 84,525 SH   SOLE   84,525 0 0
CHINA TELECOM CORP LTD SPON ADR H SHS 169426103   205 4,026 SH   SOLE   4,026 0 0
CHINA UNICOM (HONG KONG) LTD SPONSORED ADR 16945R104   609 50,000 SH   SOLE   50,000 0 0
COCA COLA FEMSA S A B DE C V SPON ADR REP L 191241108   1,238 16,513 SH   SOLE   16,513 0 0
COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104   2,703 195,335 SH   SOLE   195,335 0 0
CONCHO RES INC COM 20605P101   579 4,213 SH   SOLE   4,213 0 0
CREDICORP LTD COM G2519Y108   10,594 69,596 SH   SOLE   69,596 0 0
CTRIP COM INTL LTD AMERICAN DEP SHS 22943F100   8,741 187,699 SH   SOLE   187,699 0 0
DIREXION SHS ETF TR CSI300 CHINA1X 25459Y116   2,492 60,000 SH   SOLE   60,000 0 0
EMBRAER S A SP ADR REP 4 COM 29082A107   288 16,700 SH   SOLE   16,700 0 0
EMPRESA NACIONAL DE ELCTRCID SPONSORED ADR 29244T101   526 26,490 SH   SOLE   26,490 0 0
ENERSIS AMERICAS SA SPONSORED ADR 29274F104   751 91,652 SH   SOLE   91,652 0 0
EOG RES INC COM 26875P101   561 5,804 SH   SOLE   5,804 0 0
FANG HLDGS LTD ADR 30711Y102   631 140,529 SH   SOLE   140,529 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106   9,732 105,742 SH   SOLE   105,742 0 0
GRUPO TELEVISA SA SPON ADR REP ORD 40049J206   4,569 177,850 SH   SOLE   177,850 0 0
HESS CORP COM 42809H107   461 8,592 SH   SOLE   8,592 0 0
HOWARD HUGHES CORP COM 44267D107   33,091 289,000 SH   SOLE   289,000 0 0
INFOSYS LTD SPONSORED ADR 456788108   1,262 80,000 SH   SOLE   80,000 0 0
ISHARES MSCI BRZ CAP ETF 464286400   2,024 60,000 SH   SOLE   60,000 0 0
ISHARES MSCI STH KOR ETF 464286772   46,572 801,162 SH   SOLE   801,162 0 0
ISHARES MSCI MALAYSI ETF 464286830   2,416 297,940 SH   SOLE   297,940 0 0
ISHARES TR CHINA LG-CAP ETF 464287184   2,538 66,782 SH   SOLE   66,782 0 0
ISHARES TR CORE S&P500 ETF 464287200   26,570 122,126 SH   SOLE   122,126 0 0
ISHARES TR MSCI EMG MKT ETF 464287234   3,745 100,000 SH Put SOLE   100,000 0 0
ISHARES TR CORE S&P MCP ETF 464287507   9,259 59,848 SH   SOLE   59,848 0 0
ISHARES TR RUSSELL 2000 ETF 464287655   6,211 50,000 SH Put SOLE   50,000 0 0
ISHARES TR IBOXX HI YD ETF 464288513   130,798 1,498,950 SH   SOLE   1,498,950 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106   767 70,096 SH   SOLE   70,096 0 0
JD COM INC SPON ADR CL A 47215P106   9,037 346,372 SH   SOLE   346,372 0 0
KB FINANCIAL GROUP INC SPONSORED ADR 48241A105   982 28,712 SH   SOLE   28,712 0 0
KT CORP SPONSORED ADR 48268K101   549 34,184 SH   SOLE   34,184 0 0
LATAM AIRLS GROUP S A SPONSORED ADR 51817R106   92 11,282 SH   SOLE   11,282 0 0
LG DISPLAY CO LTD SPONS ADR REP 50186V102   745 58,589 SH   SOLE   58,589 0 0
LSB INDS INC COM 502160104   632 73,667 SH   SOLE   73,667 0 0
MOBILE TELESYSTEMS PJSC SPONSORED ADR 607409109   4,321 566,356 SH   SOLE   566,356 0 0
MOSAIC CO NEW COM 61945C103   1,169 47,787 SH   SOLE   47,787 0 0
NETEASE INC SPONSORED ADR 64110W102   9,572 39,754 SH   SOLE   39,754 0 0
NEW ORIENTAL ED & TECH GRP I SPON ADR 647581107   3,105 66,982 SH   SOLE   66,982 0 0
P T TELEKOMUNIKASI INDONESIA SPONSORED ADR 715684106   1,396 21,121 SH   SOLE   21,121 0 0
PIONEER NAT RES CO COM 723787107   580 3,124 SH   SOLE   3,124 0 0
PLDT INC SPONSORED ADR 69344D408   321 9,000 SH   SOLE   9,000 0 0
POTASH CORP SASK INC COM 73755L107   1,174 71,941 SH   SOLE   71,941 0 0
POWERSHS DB MULTI SECT COMM PS DB AGRICUL FD 73936B408   4,154 207,904 SH   SOLE   207,904 0 0
QUNAR CAYMAN IS LTD SPNS ADR CL B 74906P104   519 17,882 SH   SOLE   17,882 0 0
RANGE RES CORP COM 75281A109   3,351 86,479 SH   SOLE   86,479 0 0
SERVICE CORP INTL COM 817565104   531 20,000 SH   SOLE   20,000 0 0
SOCIEDAD QUIMICA MINERA DE C SPON ADR SER B 833635105   807 30,000 SH   SOLE   30,000 0 0
SOUTHERN COPPER CORP COM 84265V105   2,298 87,366 SH   SOLE   87,366 0 0
SPDR GOLD TRUST GOLD SHS 78463V107   1,442 11,475 SH   SOLE   11,475 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103   16,223 75,000 SH Put SOLE   75,000 0 0
SPDR SER TR SPDR RUSSEL 2000 78468R853   5,886 79,669 SH   SOLE   79,669 0 0
SUNRUN INC COM 86771W105   291 46,200 SH   SOLE   46,200 0 0
TAL ED GROUP ADS REPSTG COM 874080104   1,518 21,428 SH   SOLE   21,428 0 0
TATA MTRS LTD SPONSORED ADR 876568502   423 10,570 SH   SOLE   10,570 0 0
TRANSOCEAN LTD REG SHS H8817H100   2,676 251,000 SH   SOLE   251,000 0 0
TRANSOCEAN LTD REG SHS H8817H100   6,876 645,000 SH Put SOLE   645,000 0 0
VANECK VECTORS ETF TR INDONESIA INDEX 92189F833   15,908 675,217 SH   SOLE   675,217 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858   5,494 145,990 SH   SOLE   145,990 0 0
VANGUARD SPECIALIZED PORTFOL DIV APP ETF 921908844   3,692 43,984 SH   SOLE   43,984 0 0
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858   13,865 370,635 SH   SOLE   370,635 0 0
VIPSHOP HLDGS LTD SPONSORED ADR 92763W103   1,967 134,089 SH   SOLE   134,089 0 0
VIPSHOP HLDGS LTD NOTE 1.500% 3/1 92763WAA1   31,211 29,000,000 PRN   SOLE   29,000,000 0 0
YY INC ADS REPCOM CLA 98426T106   789 14,811 SH   SOLE   14,811 0 0