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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

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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
ISHARES MSCI BRZ CAP ETF 464286400 50,935 1,688,000 SH Put SOLE   1,688,000 0 0
NII HLDGS INC COM PAR $0.001 62913F508 25,299 7,955,623 SH   SOLE   7,955,623 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 303,832 2,402,400 SH Call SOLE   0 0 0
ISHARES TR IBOXX HI YD ETF 464288513 317,625 3,750,000 SH Put SOLE   3,750,000 0 0
SPDR SERIES TRUST S&P METALS MNG 78464A755 5,370 220,000 SH Put SOLE   220,000 0 0