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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ABBVIE INC COM 00287Y109   1,680,601 9,229 SH   DFND   9,229 0 0
ADVANCED MICRO DEVICES INC COM 007903107   18,225,700 100,979 SH   DFND   0 0 100,979
ALPHABET INC CAP STK CL A 02079K305   21,274,489 140,956 SH   DFND   4,894 0 136,062
AMAZON COM INC COM 023135106   39,238,422 217,532 SH   DFND   20,748 0 196,784
AMBEV SA SPONSORED ADR 02319V103   1,148,359 463,048 SH   DFND   0 0 463,048
AMERICA MOVIL SAB DE CV SPONSORED ADR 02390A101   17,332,816 930,594 SH   DFND 1 172,091 0 758,503
ASTRAZENECA PLC SPONSORED ADR 046353108   1,332,981 19,675 SH   DFND   0 0 19,675
AUNA S A CLASS A L0415A103   6,344,848 632,400 SH   DFND 1 0 0 632,400
BANCO BRADESCO S A SP ADR PFD NEW 059460303   5,206,550 1,820,472 SH   DFND   0 0 1,820,472
BANCO BRADESCO S A SP ADR PFD NEW 059460303   53,170,975 18,591,250 SH   DFND 1 1,733,313 0 16,857,937
BANCO MACRO SA SPON ADR B 05961W105   250,536 5,200 SH   DFND 1 5,200 0 0
BANCO SANTANDER CHILE NEW SP ADR REP COM 05965X109   327,611 16,521 SH   DFND 1 3,845 0 12,676
BBB FOODS INC CL A COM G0896C103   13,008,088 566,187 SH   DFND 1 47,862 0 518,325
BEST BUY INC COM 086516101   6,582,579 80,246 SH   DFND   80,246 0 0
BOEING CO COM 097023105   3,126,438 16,200 SH   DFND   0 0 16,200
BRF SA SPONSORED ADR 10552T107   1,956 600 SH   DFND   600 0 0
CAMECO CORP COM 13321L108   433,200 10,000 SH   DFND   10,000 0 0
CATERPILLAR INC DEL COM 149123101   1,283,971 3,504 SH   DFND   0 0 3,504
CEMEX SAB DE CV SPON ADR NEW 151290889   111,662,165 12,831,556 SH   DFND 1 1,281,724 0 11,549,832
CENTRAIS ELETRICAS BRASILEIR SPONSORED ADR 15234Q207   2,904,957 347,899 SH   DFND   0 0 347,899
COCA COLA CO COM 191216100   1,357,217 22,184 SH   DFND   22,184 0 0
COCA COLA FEMSA S A B DE C V SPON ADR REP L 191241108   41,775,739 446,685 SH   DFND 1 37,727 0 408,958
COINBASE GLOBAL INC COM CL A 19260Q107   625,683 2,360 SH   DFND   2,360 0 0
COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102   16,148,991 959,536 SH   DFND   0 0 959,536
COMPANHIA SIDERURGICA NACION SPONSORED ADR 20440W105   887,145 283,433 SH   DFND   0 0 283,433
COSAN LTD SHS A 22113B103   5,253,698 405,691 SH   DFND   405,691 0 0
CREDICORP LTD COM G2519Y108   82,236,605 503,276 SH   DFND 1 47,160 0 456,116
DESPEGAR COM CORP ORD SHS G27358103   11,554,395 1,001,500 SH   DFND 1 95,700 0 905,800
DISNEY WALT CO PUT 254687956   459,638 1,000 SH Put DFND   0 0 1,000
DISNEY WALT CO COM DISNEY 254687106   4,775,344 39,027 SH   DFND   39,027 0 0
DRAFTKINGS INC NEW COM CL A 26142V105   2,647,403 58,300 SH   DFND   0 0 58,300
EMBRAER S A SP ADR REP 4 COM 29082A107   37,810,849 1,482,963 SH   DFND 1 124,714 0 1,358,249
ENPHASE ENERGY INC COM 29355A107   30,245 250 SH   DFND   250 0 0
FACEBOOK INC CL A 30303M102   36,484,053 75,135 SH   DFND   601 0 74,534
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106   171,252,302 1,365,167 SH   DFND 1 137,068 0 1,228,099
GERDAU SA SPON ADR REP PFD 373737105   4,396,534 994,691 SH   DFND   0 0 994,691
GILEAD SCIENCES INC COM 375558103   113,025 1,543 SH   DFND   1,543 0 0
GLOBAL X FDS GLOBAL X URANIUM 37954Y871   28,525,844 989,450 SH   DFND   0 0 989,450
GLOBAL X FDS LITHIUM BTRY ETF 37954Y855   41,304 912 SH   DFND   0 0 912
GLOBANT S A COM L44385109   179,691 890 SH   DFND 1 890 0 0
GRUPO AEROPORTUARIO DEL SURE SPON ADR SER B 40051E202   46,370,469 150,645 SH   DFND 1 13,935 0 136,710
GRUPO AEROPUERTO DEL PACIFIC SPON ADR B 400506101   16,340,212 101,708 SH   DFND 1 18,230 0 83,478
GRUPO TELEVISA SA SPON ADR REP ORD 40049J206   39,753 13,182 SH   DFND 1 0 0 13,182
ICICI BK LTD ADR 45104G104   608,750 23,050 SH   DFND 1 23,050 0 0
INFOSYS LTD SPONSORED ADR 456788108   366,453 20,438 SH   DFND   0 0 20,438
INVESCO DB MLTI SECTR CMMTY AGRICULTURE FD 46140H106   5,637,052 215,200 SH   DFND   215,200 0 0
INVESCO LTD PUT G491BT958   1 1,500 SH Put DFND   0 0 1,500
ISHARES INC MSCI BRAZIL ETF 464286400   4,792,454 147,824 SH   DFND   0 0 147,824
ISHARES INC MSCI JPN ETF NEW 46434G822   57,018,211 799,134 SH   DFND 1 799,134 0 0
ISHARES INC PUT 464286950   908,806 1,500 SH Put DFND   0 0 1,500
ISHARES SILVER TRUST ISHARES 46428Q109   967,467 42,526 SH   DFND   0 0 42,526
ISHARES TR MSCI EAFE ETF 464287465   1,876,710 23,500 SH   DFND   0 0 23,500
ISHARES TR MSCI EMG MKT ETF 464287234   4,074,150 99,176 SH   DFND   0 0 99,176
ISHARES TR MSCI EMG MKT ETF 464287234   11,918,869 290,138 SH   DFND 1 290,138 0 0
ISHARES TR PUT 464287955   1,219,678 4,500 SH Put DFND   0 0 4,500
ISHARES TR PUT 464287954   841,352 17,000 SH Put DFND   0 0 17,000
ISHARES TR PUT 464287956   529,207 10,000 SH Put DFND   0 0 10,000
ISHARES TR IBOXX INV CP ETF 464287242   8,169 75 SH   DFND 1 75 0 0
ISHARES TR 10-20 YR TRS ETF 464288653   119,111,162 1,134,068 SH   DFND 1 1,134,068 0 0
ISHARES TR US TREAS BD ETF 46429B267   107,071,257 4,702,295 SH   DFND 1 4,702,295 0 0
ISHARES TR MSCI INDIA ETF 46429B598   4,049,815 78,500 SH   DFND   0 0 78,500
ISHARES TR BARCLAYS 7 10 YR 464287440   2,378,153 13,688 SH   DFND 1 13,688 0 0
ISHARES TR U.S. REAL ES ETF 464287739   1,390,304 15,465 SH   DFND   0 0 15,465
ISHARES TR CORE S&P500 ETF 464287200   2,592,836 4,693 SH   DFND 1 4,693 0 0
ITAU UNIBANCO HLDG S A SPON ADR REP PFD 465562106   156,119,279 23,288,427 SH   DFND 1 2,374,595 0 20,913,832
JOHNSON & JOHNSON COM 478160104   444,039 2,807 SH   DFND   2,807 0 0
KEURIG DR PEPPER INC COM 49271V100   2,873,779 93,700 SH   DFND   0 0 93,700
LISTED FD TR ROUNDHILL BALL 53656F417   425,106 34,200 SH   DFND   0 0 34,200
LULULEMON ATHLETICA INC COM 550021109   4,219,020 10,800 SH   DFND   0 0 10,800
MAKEMYTRIP LIMITED MAURITIUS SHS V5633W109   319,725 4,500 SH   DFND 1 4,500 0 0
MATTERPORT INC COM CL A 577096100   3,153,572 1,395,386 SH   DFND   1,395,386 0 0
MATTERPORT INC COM CL A 577096900   75,460 6,000 SH Call DFND   0 0 6,000
MERCADOLIBRE INC COM 58733R102   1,283,654 849 SH   DFND   0 0 849
MICRON TECHNOLOGY INC COM 595112103   6,881,121 58,369 SH   DFND   0 0 58,369
MICROSOFT CORP COM 594918104   68,111,623 161,893 SH   DFND   9,159 0 152,734
NETFLIX INC COM 64110L106   2,021,802 3,329 SH   DFND   3,329 0 0
NEW ORIENTAL ED & TECH GRP I SPON ADR 647581206   271,747 3,130 SH   DFND 1 3,130 0 0
NEWMONT MINING CORP COM 651639106   706,908 19,724 SH   DFND   19,724 0 0
NEXTERA ENERGY INC COM 65339F101   8,836,133 138,259 SH   DFND   138,259 0 0
NU HLDGS LTD ORD SHS CL A G6683N103   6,488,309 543,865 SH   DFND   0 0 543,865
NU HLDGS LTD ORD SHS CL A G6683N103   248,144 20,800 SH   DFND 1 20,800 0 0
NVIDIA CORP COM 67066G104   20,448,466 22,631 SH   DFND   20 0 22,611
ORACLE CORP COM 68389X105   2,700,615 21,500 SH   DFND   0 0 21,500
PAYPAL HLDGS INC COM 70450Y103   2,794,354 41,713 SH   DFND   1,036 0 40,677
PETROLEO BRASILEIRO SA PETRO PUT 71654V958   1,099,892 2,000 SH Put DFND   0 0 2,000
PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101   38,259,982 2,567,784 SH   DFND   2,567,784 0 0
PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101   67,206,882 4,510,529 SH   DFND 1 736,698 0 3,773,831
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408   77,239,605 5,078,212 SH   DFND   5,078,212 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408   38,917,766 2,558,696 SH   DFND 1 405,365 0 2,153,331
PUBLIC SVC ENTERPRISE GROUP COM 744573106   1,382,079 20,696 SH   DFND   20,696 0 0
RAYTHEON TECHNOLOGIES CORP COM 75513E101   5,784,407 59,309 SH   DFND   0 0 59,309
ROBLOX CORP CL A 771049103   883,256 23,134 SH   DFND   23,134 0 0
ROCKWELL AUTOMATION INC COM 773903109   9,200,784 31,582 SH   DFND   0 0 31,582
SCORPIO TANKERS INC SHS Y7542C130   133,799 1,870 SH   DFND 1 1,870 0 0
SEA LTD ADR 81141R100   99,149 1,846 SH   DFND   0 0 1,846
SELECT SECTOR SPDR TR CALL 81369Y900   326,953 2,000 SH Call DFND   0 0 2,000
SELECT SECTOR SPDR TR PUT 81369Y957   745,723 1,500 SH Put DFND   0 0 1,500
SELECT SECTOR SPDR TR PUT 81369Y950   412,353 2,000 SH Put DFND   0 0 2,000
SELECT SECTOR SPDR TR PUT 81369Y955   16,238 2,994 SH Put DFND   0 0 2,994
SELECT SECTOR SPDR TR PUT 81369Y953   77,373 2,000 SH Put DFND   0 0 2,000
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605   130,236,725 3,092,040 SH   DFND   0 0 3,092,040
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803   624,810 3,000 SH   DFND   0 0 3,000
SNOWFLAKE INC CL A 833445109   90,173 558 SH   DFND   558 0 0
SOCIEDAD QUIMICA MINERA DE C SPON ADR SER B 833635105   3,919,935 79,946 SH   DFND 1 16,627 0 63,319
SONY CORP SPONSORED ADR 835699307   312,265 3,642 SH   DFND   0 0 3,642
SPDR GOLD TR GOLD SHS 78463V107   13,371,800 65,000 SH   DFND   0 0 65,000
SPDR S&P 500 ETF TR PUT 78462F953   10,589 1,000 SH Put DFND   0 0 1,000
SPDR S&P 500 ETF TR TR UNIT 78462F103   257,642,836 492,559 SH   DFND 1 492,559 0 0
SPDR SERIES TRUST S&P METALS MNG 78464A755   391,820 6,500 SH   DFND   0 0 6,500
STONECO LTD COM CL A G85158106   4,821,650 290,286 SH   DFND   0 0 290,286
SUZANO S A SPON COM 86959K105   20,647,886 1,624,112 SH   DFND 1 361,406 0 1,262,706
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100   70,972,931 521,668 SH   DFND   0 0 521,668
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100   1,242,137 9,130 SH   DFND 1 9,130 0 0
TELEFONICA BRASIL SA SPONSORED ADR 87936R205   1,557,531 155,100 SH   DFND 1 32,800 0 122,300
TIM S A COM 88706T108   6,395,096 361,076 SH   DFND 1 89,631 0 271,445
TRIP COM GROUP LTD ADS 89677Q107   359,898 8,200 SH   DFND 1 8,200 0 0
UBER TECHNOLOGIES INC COM 90353T100   1,609,091 20,900 SH   DFND   0 0 20,900
ULTA BEAUTY INC COM 90384S303   5,318,212 10,171 SH   DFND   0 0 10,171
VALE S A SPONSORED ADS 91912E105   57,835,726 4,890,781 SH   DFND 1 767,705 0 4,123,076
VANECK MERK GOLD TRUST CALL 921078901   824,413 4 SH Call DFND   0 0 4
VANECK MERK GOLD TRUST PUT 921078951   85 1,000 SH Put DFND   0 0 1,000
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874   62,112,126 922,366 SH   DFND 1 922,366 0 0
XP INC CL A G98239109   28,397,217 1,148,700 SH   DFND 1 106,200 0 1,042,500
ZOOM VIDEO COMMUNICATIONS IN CL A 98980L101   386,206 5,908 SH   DFND   5,908 0 0
ZTO EXPRESS CAYMAN INC SPONSORED ADR 98980A105   177,990 8,500 SH   DFND 1 8,500 0 0