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
BANCO SANTANDER BRASIL S A ADS REP 1 UNIT 05967A107 8,268 1,172,716 SH   SOLE   1,172,716 0 0
BANCOLOMBIA S A SPON ADR PREF 05968L102 385 12,050 SH   SOLE   12,050 0 0
CONTROLADORA VUELA COMP DE A SPON ADR RP 10 21240E105 9,957 698,274 SH   SOLE   698,274 0 0
GRUPO FINANCIERO GALICIA S.A SPONSORED ADR 399909100 288 37,881 SH   SOLE   37,881 0 0
GRUPO SUPERVIELLE S.A. SPONSORED ADR 40054A108 245 141,647 SH   SOLE   141,647 0 0
ISHARES INC MSCI AUST ETF 464286103 1,237 49,901 SH   SOLE   49,901 0 0
ISHARES INC MSCI BRAZIL ETF 464286400 1,691 50,551 SH   SOLE   50,551 0 0
ISHARES INC MSCI CDA ETF 464286509 1,105 32,461 SH   SOLE   32,461 0 0
ISHARES INC MSCI CHILE ETF 464286640 644 18,813 SH   SOLE   18,813 0 0
ISHARES INC MSCI GERMANY ETF 464286806 1,256 37,555 SH   SOLE   37,555 0 0
ISHARES INC MSCI MEXICO ETF 464286822 530 12,097 SH   SOLE   12,097 0 0
ISHARES INC MSCI STH AFR ETF 464286780 1,932 39,135 SH   SOLE   39,135 0 0
ISHARES INC MSCI STH KOR ETF 464286772 4,199 46,817 SH   SOLE   46,817 0 0
ISHARES TR MSCI ACWI EX US 464288240 2,110 38,236 SH   SOLE   38,236 0 0
ISHARES TR MSCI UK ETF NEW 46435G334 1,652 52,771 SH   SOLE   52,771 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 1,179 22,099 SH   SOLE   22,099 0 0
ISHARES TR MSCI AC ASIA ETF 464288182 527 5,686 SH   SOLE   5,686 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 681 3,081 SH   SOLE   3,081 0 0
ISHARES TR LATN AMER 40 ETF 464287390 1,544 55,924 SH   SOLE   55,924 0 0
ISHARES TR IBOXX HI YD ETF 464288513 2,740 31,430 SH   SOLE   31,430 0 0
ISHARES TR MSCI USA VALUE 46432F388 604 5,894 SH   SOLE   5,894 0 0
ISHARES TR CORE US AGGBD ET 464287226 4,824 42,378 SH   SOLE   42,378 0 0
ISHARES TR CORE S&P500 ETF 464287200 5,227 13,138 SH   SOLE   13,138 0 0
ITAU UNIBANCO HLDG S A SPON ADR REP PFD 465562106 12,904 2,601,516 SH   SOLE   2,601,516 0 0
MERCADOLIBRE INC COM 58733R102 33,656 22,862 SH   SOLE   22,862 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 12,730 1,501,205 SH   SOLE   1,501,205 0 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 713 9,044 SH   SOLE   9,044 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 1,860 18,889 SH   SOLE   18,889 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 2,594 22,224 SH   SOLE   22,224 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 2,260 66,360 SH   SOLE   66,360 0 0
SELECT SECTOR SPDR TR ENERGY 81369Y506 361 7,357 SH   SOLE   7,357 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 452 6,614 SH   SOLE   6,614 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 2,156 12,830 SH   SOLE   12,830 0 0
SELECT SECTOR SPDR TR COMMUNICATION 81369Y852 2,013 27,453 SH   SOLE   27,453 0 0
SOCIEDAD QUIMICA Y MINERA DE SPON ADR SER B 833635105 6,145 115,784 SH   SOLE   115,784 0 0
SOCIEDAD QUIMICA Y MINERA DE RIGHT 04/19/2021 833636111 67 21,584 SH   SOLE   21,584 0 0
SPDR INDEX SHS FDS S&P CHINA ETF 78463X400 2,046 15,626 SH   SOLE   15,626 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 813 2,052 SH   SOLE   2,052 0 0
TELECOM ARGENTINA S A SPON ADR REP B 879273209 814 147,317 SH   SOLE   147,317 0 0
TRANSPORTADORA DE GAS SUR SPONSORED ADS B 893870204 61 12,701 SH   SOLE   12,701 0 0
VALE S A SPONSORED ADS 91912E105 39,516 2,273,659 SH   SOLE   2,273,659 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 1,399 26,882 SH   SOLE   26,882 0 0
VANGUARD WORLD FDS INF TECH ETF 92204A702 5,180 14,449 SH   SOLE   14,449 0 0