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
ALIBABA GROUP HOLDING LIMITED SPONSORED ADR CMN COM 01609W102 17,607 214,025 SH   SOLE   214,025 0 0
ANHEUSERBUSCH INBEV SA SPONSORED ADR CMN COM 03524A108 2,667 22,100 SH   SOLE   22,100 0 0
BANCO DE CHILE SPONSORED ADR CMN COM 059520106 1,951 29,832 SH   SOLE   29,832 0 0
BANCO SANTANDERCHILE ADR CMN COM 05965X109 5,954 294,052 SH   SOLE   294,052 0 0
BANK OF AMERICA CORP CMN COM 060505104 10,723 630,000 SH   SOLE   630,000 0 0
CAPITAL ONE FINANCIAL CORP CMN COM 14040H105 3,079 35,000 SH   SOLE   35,000 0 0
CITIGROUP INC CMN COM 172967424 7,929 143,539 SH   SOLE   143,539 0 0
COCACOLA COMPANY (THE) CMN COM 191216100 36,542 931,500 SH   SOLE   931,500 0 0
DEUTSCHE XTRACKERS HARVEST CSI 300 CHINA ASHARES ETF ETF 233051879 3,313 72,000 SH   SOLE   72,000 0 0
DISCOVER FINANCIAL SERVICES CMN COM 254709108 4,494 78,000 SH   SOLE   78,000 0 0
FOMENTO ECONOMICO MEXICANO SAB DE CV NEW SPONS ADR REPSTG UNIT 1 SER B SH FOMENTO ECONOMICO MEXICANO COM 344419106 18,831 211,365 SH   SOLE   211,365 0 0
ISHARES MSCI SOUTH KOREA CAPPED ETF ETF 464286772 66,656 1,209,500 SH   SOLE   1,209,500 0 0
iShares China LargeCap ETF ETF 464287184 10,499 227,747 SH   SOLE   227,747 0 0
ISHARES MSCI EMERGING MKTS ETF ETF 464287234 47,750 1,205,201 SH   SOLE   1,205,201 0 0
JPMORGAN CHASE CO CMN COM 46625H100 5,760 85,000 SH   SOLE   85,000 0 0
KEYCORP CMN COM 493267108 2,726 181,500 SH   SOLE   181,500 0 0
KINDRED HEALTHCARE INC CMN COM 494580103 1,014 49,970 SH   SOLE   49,970 0 0
MAGNA INTERNATIONAL INC CMN COM 559222401 6,282 112,000 SH   SOLE   112,000 0 0
MERCADOLIBRE INC CMN COM 58733R102 7,487 52,834 SH   SOLE   52,834 0 0
PAMPA ENERGIA SA SPONSORED ADR CMN COM 697660207 9,835 712,215 SH   SOLE   712,215 0 0
AMEX CONSUMER DISCRETIONARY SELECT SECTOR 'SPDR' FUND ETF 81369Y407 25,391 332,000 SH   SOLE   332,000 0 0
STATE STREET CORPORATION (NEW) CMN COM 857477103 1,925 25,000 SH   SOLE   25,000 0 0
TRANSPORTADORA DE GAS DEL SUR SPONSORED ADR REP 5 CL B COM 893870204 7,647 1,691,676 SH   SOLE   1,691,676 0 0
US BANCORP CMN COM 902973304 3,472 80,000 SH   SOLE   80,000 0 0
VALE SA ADR COM 91912E105 2,567 435,800 SH   SOLE   435,800 0 0
WELLS FARGO CO (NEW) CMN COM 949746101 2,531 45,000 SH   SOLE   45,000 0 0
COSAN LIMITED CMN CLASS A COM G25343107 1,584 257,084 SH   SOLE   257,084 0 0
CALL YPF 100 @ 35 EXP 01152016 CALL 99AYTHCN6 2,854 30,040 SH   SOLE   30,040 0 0
CORPBANCA ADR ADR 21987A209 2,637 159,725 SH   SOLE   159,725 0 0
ARCOS DORADOS HOLDINGS INC COM STK SHS CLASS -A - G0457F107 4,352 827,289 SH   SOLE   827,289 0 0
BANCOLOMBIA SA BANCOLOMBIA CO ADR ADR 05968L102 8,534 198,456 SH   SOLE   198,456 0 0
PUT EEM 100 @ 41 EXP 07022015 PUT 99ONX5PJ1 2,783 19,736 SH   SOLE   19,736 0 0
PUT VALE 100 @ 6 EXP 09182015 PUT 99OMRYCC6 3,075 50,000 SH   SOLE   50,000 0 0