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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
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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
BANCO BRADESCO S A SP ADR PFD NEW 059460303   11,380,649 3,993,210 SH   SOLE   3,993,210 0 0
ITAU UNIBANCO HLDG S A SPON ADR REP PFD 465562106   25,190,573 4,690,982 SH   SOLE   4,690,982 0 0
JPMORGAN CHASE & CO COM 46625H100   25,363,998 174,900 SH   SOLE   174,900 0 0
PROSHARES TR II SHT VIX ST TRM 74347W130   50,822,070 588,900 SH   SOLE   588,900 0 0
SHELL PLC SPON ADS 780259305   46,340,724 719,800 SH   SOLE   719,800 0 0
TECK RESOURCES LTD CL B 878742204   22,274,255 516,924 SH   SOLE   516,924 0 0
UNITED STATES STL CORP NEW COM 912909108   12,891,312 396,900 SH   SOLE   396,900 0 0
NU HLDGS LTD ORD SHS CL A G6683N103   25,367,786 3,499,005 SH   SOLE   3,499,005 0 0
FREYR BATTERY SHS L4135L100   8,390,824 1,715,915 SH   SOLE   1,715,915 0 0