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 26 10,800 SH   SOLE   10,800 0 0
AGNICO EAGLE MINES LTD COM 008474108 7,882 111,787 SH   SOLE   111,787 0 0
ALAMOS GOLD INC NEW COM CL A 011532108 7,586 866,919 SH   SOLE   866,919 0 0
AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 20,948 1,440,722 SH   SOLE   1,440,722 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 3 181 SH   SOLE   181 0 0
AMERICAN AIRLS GROUP INC COM 02376R102 5,914 375,000 SH Call SOLE   375,000 0 0
APPLE INC COM 037833100 98 741 SH   SOLE   741 0 0
APPLE INC COM 037833100 955 7,200 SH Call SOLE   7,200 0 0
ARCOS DORADOS HOLDINGS INC SHS CLASS -A - G0457F107 1,755 348,997 SH   SOLE   348,997 0 0
BARRICK GOLD CORP COM 067901108 2,231 97,944 SH   SOLE   97,944 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 2,319 10,000 SH   SOLE   10,000 0 0
CAMECO CORP COM 13321L108 1,832 136,752 SH   SOLE   136,752 0 0
CARNIVAL CORP UNIT 99/99/9999 143658300 9 431 SH   SOLE   431 0 0
CARNIVAL CORP UNIT 99/99/9999 143658300 11,101 512,500 SH Call SOLE   512,500 0 0
CENTRAIS ELETRICAS BRASILEIR SPON ADR PFD B 15234Q108 145 20,526 SH   SOLE   20,526 0 0
CLEVELAND-CLIFFS INC NEW COM 185899101 239 16,400 SH   SOLE   16,400 0 0
COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104 789 64,700 SH   SOLE   64,700 0 0
COSAN LTD SHS A G25343107 2,809 152,392 SH   SOLE   152,392 0 0
CREDICORP LTD COM G2519Y108 2,460 15,000 SH   SOLE   15,000 0 0
DESPEGAR COM CORP ORD SHS G27358103 769 60,000 SH   SOLE   60,000 0 0
ECOPETROL S A SPONSORED ADS 279158109 199 15,400 SH   SOLE   15,400 0 0
EMBOTELLADORA ANDINA S A SPON ADR A 29081P204 157 11,800 SH   SOLE   11,800 0 0
EQUINOX GOLD CORP COM 29446Y502 847 81,911 SH   SOLE   81,911 0 0
EXXON MOBIL CORP COM 30231G102 9 211 SH   SOLE   211 0 0
EXXON MOBIL CORP COM 30231G102 11,129 270,000 SH Call SOLE   270,000 0 0
FACEBOOK INC CL A 30303M102 7,688 28,145 SH   SOLE   28,145 0 0
FREEPORT-MCMORAN INC CL B 35671D857 315 12,100 SH   SOLE   12,100 0 0
GRAN TIERRA ENERGY INC COM 38500T101 38 103,600 SH   SOLE   103,600 0 0
INTEL CORP COM 458140100 4,982 100,000 SH Call SOLE   100,000 0 0
INVESCO QQQ TR UNIT SER 1 46090E103 10,040 32,000 SH Put SOLE   32,000 0 0
IRSA INVERSIONES Y REP S A GLOBL DEP RCPT 450047204 1,804 400,000 SH   SOLE   400,000 0 0
IRSA PROPIEDADES COMERCIALES SPONSORED ADR 463588103 2,066 225,320 SH   SOLE   225,320 0 0
ISHARES INC MSCI BRAZIL ETF 464286400 1,624 43,800 SH Put SOLE   43,800 0 0
ISHARES INC MSCI JPN ETF NEW 46434G822 304 4,500 SH Put SOLE   4,500 0 0
ISHARES SILVER TR ISHARES 46428Q109 1,477 60,100 SH Call SOLE   60,100 0 0
ISHARES SILVER TR ISHARES 46428Q109 1,477 60,100 SH Put SOLE   60,100 0 0
ISHARES TR 20 YR TR BD ETF 464287432 8,360 53,000 SH Put SOLE   53,000 0 0
ISHARES TR BARCLAYS 7 10 YR 464287440 1,907 15,900 SH Put SOLE   15,900 0 0
ISHARES TR IBOXX INV CP ETF 464287242 18,578 134,500 SH Put SOLE   134,500 0 0
JD.COM INC SPON ADR CL A 47215P106 470 5,342 SH   SOLE   5,342 0 0
JPMORGAN CHASE & CO COM 46625H100 12,707 100,000 SH Call SOLE   100,000 0 0
MERCADOLIBRE INC COM 58733R102 8,066 4,815 SH   SOLE   4,815 0 0
MICROSOFT CORP COM 594918104 361 1,621 SH   SOLE   1,621 0 0
NATURA &CO HLDG S A ADS 63884N108 3,819 190,955 SH   SOLE   190,955 0 0
NEW GOLD INC CDA COM 644535106 1,730 790,000 SH   SOLE   790,000 0 0
NEWMONT CORP COM 651639106 7,610 127,072 SH   SOLE   127,072 0 0
PAGSEGURO DIGITAL LTD COM CL A G68707101 2,022 35,543 SH   SOLE   35,543 0 0
PAYPAL HLDGS INC COM 70450Y103 464 1,982 SH   SOLE   1,982 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 448 39,874 SH   SOLE   39,874 0 0
PILGRIMS PRIDE CORP COM 72147K108 411 20,980 SH   SOLE   20,980 0 0
PRETIUM RES INC COM 74139C102 1,554 135,366 SH   SOLE   135,366 0 0
SALESFORCE COM INC COM 79466L302 370 1,663 SH   SOLE   1,663 0 0
SEA LTD SPONSORD ADS 81141R100 1,344 6,750 SH   SOLE   6,750 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 710 1,900 SH Put SOLE   1,900 0 0
SPDR SER TR S&P REGL BKG 78464A698 35,326 680,000 SH Call SOLE   680,000 0 0
SPIRIT AIRLS INC COM 848577102 6,668 272,700 SH Call SOLE   272,700 0 0
STONECO LTD COM CL A G85158106 3,554 42,348 SH   SOLE   42,348 0 0
TECK RESOURCES LTD CL B 878742204 299 16,500 SH   SOLE   16,500 0 0
TENABLE HLDGS INC COM 88025T102 549 10,500 SH   SOLE   10,500 0 0
TIM S A SPONSORED ADR 88706T108 616 44,250 SH   SOLE   44,250 0 0
VALE S A SPONSORED ADS 91912E105 2,895 172,710 SH   SOLE   172,710 0 0
VANECK VECTORS ETF TR SEMICONDUCTOR ET 92189F676 10,921 50,000 SH Put SOLE   50,000 0 0
WESTROCK CO COM 96145D105 252 5,800 SH   SOLE   5,800 0 0
XP INC CL A G98239109 1,053 26,546 SH   SOLE   26,546 0 0
ZENDESK INC COM 98936J101 601 4,200 SH   SOLE   4,200 0 0