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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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
COSAN S A ADS 22113B103 1,064 55,912 SH   SOLE   55,192 0 0
GERDAU SA SPON ADR REP PFD 373737105 438 74,203 SH   SOLE   0 0 74,203
MERCADOLIBRE INC COM 58733R102 40,358 25,907 SH   SOLE   25,907 0 0
STONECO LTD COM CL A G85158106 29,973 446,954 SH   SOLE   446,954 0 0
SUZANO S A SPON ADS 86959K105 985 81,754 SH   SOLE   81,754 0 0
XP INC CL A G98239109 58,696 1,347,782 SH   SOLE   1,347,782 0 0