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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
ANHEUSER-BUSCH INBEV SA/NV SPONSORED ADR 03524A108   74,165,726 1,642,288 SH   SOLE   1,642,288 0 0
GERDAU SA SPON ADR REP PFD 373737105   3,886,233 859,786 SH   SOLE   859,786 0 0
HPX CORP-A SHS CL A G32219100   45,456 189,400 SH   SOLE   189,400 0 0
MERCADOLIBRE INC COM 58733R102   42,207,674 50,989 SH   SOLE   50,989 0 0
NATURA &CO HLDG S A ADS 63884N108   22,055,473 4,039,464 SH   SOLE   4,039,464 0 0
NU HLDGS LTD ORD SHS CL A G6683N103   9,292,276 2,111,881 SH   SOLE   2,111,881 0 0
VALE S A SPONSORED ADS 91912E105   4,963,285 372,619 SH   SOLE   372,619 0 0
VTEX SHS CL A G9470A102   14,840,071 4,010,830 SH   SOLE   4,010,830 0 0
XP INC CL A G98239109   34,387,303 1,808,906 SH   SOLE   1,808,906 0 0