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 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
JD.COM INC DEPOSITORY RECEIPT 47215P106 351 4,394 SH   DFND   0 0 4,394
MERCADOLIBRE INC COMMON STOCK 58733R102 380 244 SH   DFND   0 0 244
VIPSHOP HOLDINGS LTD DEPOSITORY RECEIPT 92763W103 302 15,019 SH   DFND   0 0 15,019
XP INC CLASS A COMMON STOCK G98239109 328 7,538 SH   DFND   0 0 7,538
ALIBABA GROUP HOLDING SPONSORED ADS 01609W102 398 1,757 SH   DFND   0 0 1,757
BAIDU INC SPON ADR 056752108 371 1,819 SH   DFND   0 0 1,819
HDFC BANK LTD ADR 40415F101 352 4,811 SH   DFND   0 0 4,811
INFOSYS LTD SPONSORED ADR 456788108 350 16,531 SH   DFND   0 0 16,531
NETEASE INC SPONSORED ADS 64110W102 393 3,407 SH   DFND   0 0 3,407
TAIWAN SEMICONDUCTOR SPONSORED ADR 874039100 428 3,558 SH   DFND   0 0 3,558
VALE S A SPONSORED ADS 91912E105 356 15,629 SH   DFND   0 0 15,629
YANDEX NV SHS CLASS A N97284108 244 3,449 SH   DFND   0 0 3,449