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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
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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
PAGSEGURO DIGITAL LTD COM CL A G68707101   45,403 3,640,969 SH   SOLE   3,640,969 0 0
STONECO LTD COM CL A G85158106   60,063 3,331,291 SH   SOLE   3,331,291 0 0
AUTOHOME INC SP ADS RP CL A 05278C107   27,338 974,268 SH   SOLE   974,268 0 0
BRF SA SPONSORED ADR 10552T107   45,244 16,274,755 SH   SOLE   16,274,755 0 0
CANAAN INC SPONSORED ADS 134748102   3,262 1,412,141 SH   SOLE   1,412,141 0 0
CENTERRA GOLD INC COM 152006102   4,438 561,015 SH   SOLE   561,015 0 0
CIA ENERGETICA DE MINAS GERA SP ADR N-V PFD 204409601   27,433 11,824,717 SH   SOLE   11,824,717 0 0
COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104   68,292 4,481,121 SH   SOLE   4,481,121 0 0
DBX ETF TR XTRACK HRVST CSI 233051879   1,206 50,445 SH   SOLE   50,445 0 0
DOUYU INTL HLDGS LTD SPONSORED ADS 25985W105   3,055 3,215,500 SH   SOLE   3,215,500 0 0
EQUINOX GOLD CORP COM 29446Y502   5,621 1,149,400 SH   SOLE   1,149,400 0 0
HARMONY GOLD MINING CO LTD SPONSORED ADR 413216300   61,979 10,077,884 SH   SOLE   10,077,884 0 0
HELLO GROUP INC ADS 423403104   5,213 750,095 SH   SOLE   750,095 0 0
HIMAX TECHNOLOGIES INC SPONSORED ADR 43289P106   4,875 803,068 SH   SOLE   803,068 0 0
HUYA INC ADS REP SHS A 44852D108   4,523 1,235,700 SH   SOLE   1,235,700 0 0
IAMGOLD CORP COM 450913108   20,308 8,026,955 SH   SOLE   8,026,955 0 0
JOYY INC ADS REPSTG COM A 46591M109   4,399 110,800 SH   SOLE   110,800 0 0
KINROSS GOLD CORP COM 496902404   35,651 5,892,728 SH   SOLE   5,892,728 0 0
KRANESHARES TR CSI CHI INTERNET 500767306   1,369 50,700 SH   SOLE   50,700 0 0
MAGNACHIP SEMICONDUCTOR CORP COM 55933J203   2,816 375,495 SH   SOLE   375,495 0 0
NATURA &CO HLDG S A ADS 63884N108   22,758 3,327,226 SH   SOLE   3,327,226 0 0
NIU TECHNOLOGIES ADS 65481N100   2,466 1,126,062 SH   SOLE   1,126,062 0 0
PAN AMERN SILVER CORP COM 697900108   25,247 1,546,038 SH   SOLE   1,546,038 0 0
QUDIAN INC ADR 747798106   492 241,154 SH   SOLE   241,154 0 0
TAL EDUCATION GROUP SPONSORED ADS 874080104   1,205 95,426 SH   SOLE   95,426 0 0
ULTRAPAR PARTICIPACOES SA SP ADR REP COM 90400P101   535 98,700 SH   SOLE   98,700 0 0
VIPSHOP HLDGS LTD SPONSORED ADS A 92763W103   48,841 2,750,071 SH   SOLE   2,750,071 0 0