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

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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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ADECOAGRO S A COM L00849106 1,692 230,225 SH   SOLE   230,225 0 0
AEGEAN MARINE PETE NETWORK I NOTE 4.250%12/1 00773VAB2 6,955 11,000,000 PRN   SOLE   11,000,000 0 0
CORPORACION AMER ARPTS S A COM L1995B107 453 53,000 SH   SOLE   53,000 0 0
IRSA INVERSIONES Y REP S A GLOBL DEP RCPT 450047204 15,296 902,410 SH   SOLE   902,410 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 8,155 190,000 SH Put SOLE   190,000 0 0
ISHARES TR MSCI SAUDI ARBIA 46434V423 1,453 48,694 SH   SOLE   48,694 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 14,536 50,000 SH Put SOLE   50,000 0 0