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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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
FIRST REP BK SAN FRANCISCO C COM 33616C100   388 3,300 SH   SOLE NONE 3,300 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102   31,328 147,700 SH   SOLE NONE 147,700 0 0
COEUR MNG INC COM NEW 192108504   2,824 349,000 SH   SOLE NONE 349,000 0 0
PRA HEALTH SCIENCES INC COM 69354M108   6,969 62,700 SH   SOLE NONE 62,700 0 0
BOOKING HLDGS INC COM 09857L108   11,037 5,374 SH   SOLE NONE 5,374 0 0
OPERA LTD SPONSORED ADS 68373M107   2,246 242,758 SH   SOLE NONE 242,758 0 0
MONDELEZ INTL INC CL A 609207105   319 5,800 SH   SOLE NONE 5,800 0 0
HDFC BANK LTD SPONSORED ADS 40415F101   13,105 206,800 SH   SOLE NONE 206,800 0 0
SEA LTD SPONSORED ADS 81141R100   44,602 1,108,900 SH   SOLE NONE 1,108,900 0 0
MERCADOLIBRE INC COM 58733R102   28,025 49,000 SH   SOLE NONE 49,000 0 0
PAN AMERICAN SILVER CORP COM 697900108   38,210 1,612,800 SH   SOLE NONE 1,612,800 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106   728 7,700 SH   SOLE NONE 7,700 0 0
HEADHUNTER GROUP PLC SPONSORED ADS 42207L106   2,038 95,000 SH   SOLE NONE 95,000 0 0
INTERACTIVE BROKERS GROUP IN COM CL A 45841N107   382 8,200 SH   SOLE NONE 8,200 0 0
NASDAQ INC COM 631103108   8,654 80,800 SH   SOLE NONE 80,800 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100   5,258 90,500 SH   SOLE NONE 90,500 0 0
GLOBANT S A COM L44385109   2,916 27,500 SH   SOLE NONE 27,500 0 0
CREDICORP LTD COM G2519Y108   10,998 51,600 SH   SOLE NONE 51,600 0 0
ACCENTURE PLC IRELAND SHS CLASS A G1151C101   379 1,800 SH   SOLE NONE 1,800 0 0
VANECK VECTORS ETF TRUST JR GOLD MINERS E 92189F791   27,902 660,200 SH   SOLE NONE 660,200 0 0
SPROTT ETF TR GOLD MINERS ETF 85210B102   1,204 47,800 SH   SOLE NONE 47,800 0 0
BANCO BRADESCO S A SP ADR PFD NEW 059460303   9,502 1,061,700 SH   SOLE NONE 1,061,700 0 0
VANECK VECTORS ETF TRUST GOLD MINERS ETF 92189F106   5,162 176,300 SH   SOLE NONE 176,300 0 0
PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101   4,925 330,100 SH   SOLE NONE 330,100 0 0
COLFAX CORP COM 194014106   262 7,200 SH   SOLE NONE 7,200 0 0