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 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
BANCO BRADESCO SACOMSP ADR PFD0594603033,413895,815SH SOLE 895,81500
ANHEUSER BUSCH INBEV SA/NVSPONSORED ADR03524A10884,8851,102,096SH SOLE 1,102,09600
COSAN LTDSHS AG2534310790,4966,009,040SH SOLE 6,009,04000
DISNEY WALT COCOM DISNEY25468710649,229272,330SH SOLE 272,33000
ELECTRONIC ARTS INCCOM28551210977,364375,314SH SOLE 375,31400
GERDAU SASPON ADR REP PFD3737371052,400810,964SH SOLE 810,96400
ALPHABET INCCAP STK CL C02079K10748,86722,814SH SOLE 22,81400
GRUBHUB INCCOM40011010229,186272,253SH SOLE 272,25300
LOMA NEGRA CORPSPONSORED ADS54150E10410,8482,546,480SH SOLE 2,546,48000
MERCADOLIBRE INCCOM58733R102177,807180,374SH SOLE 180,37400
NATURA &CO HLDG SAADS63884N108254,24412,447,467SH SOLE 12,447,46700
PROSHARES TRSHRT RUSSELL200074348A21035,196179,000SH SOLE 179,00000
RYANAIR HOLDINGS PLCSPONSORED ADS78351320349,035136,045SH SOLE 136,04500
TEMPUR SEALY INTL INCCOM88023U101199,8411,688,999SH SOLE 1,688,99900
VALE SASPONSORED ADS91912E105163,65812,827,963SH SOLE 12,827,96300
XP INCCL AG982391099,551227,344SH SOLE 227,34400