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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Vista Oil & Gas SAB de CV SPONSORED ADS 92837L109 931 174,657 SH   SOLE   174,657 0 0
Banco Macro SA SPON ADR B 05961W105 1,118 79,739 SH   SOLE   79,739 0 0
Copa Holdings SA NOTE 4.500% 4/1 21720AAB8 24,557 14,000,000 SH   SOLE   14,000,000 0 0
MELI 2 08/15/28 NOTE 2.000% 8/1 58733RAD4 15,566 5,000,000 SH   SOLE   5,000,000 0 0
Ecopetrol SA SPONSORED ADS 279158109 15,969 1,238,876 SH   SOLE   1,238,876 0 0
Petroleo Brasileiro SA SP ADR NON VTG 71654V101 8,978 888,000 SH   SOLE   888,000 0 0
Petroleo Brasileiro SA SPONSORED ADR 71654V408 22,382 2,038,400 SH   SOLE   2,038,400 0 0
Petroleo Brasileiro SA PUT 71654V958 208 1,000 SH Put SOLE   1,000 0 0
Petroleo Brasileiro SA PUT 71654V958 1,148 2,800 SH Put SOLE   2,800 0 0
Petroleo Brasileiro SA PUT 71654V958 1,796 2,548 SH Put SOLE   2,548 0 0
Petroleo Brasileiro SA PUT 71654V958 2,097 8,830 SH Put SOLE   8,830 0 0
Petroleo Brasileiro SA PUT 71654V958 8,855 22,000 SH Put SOLE   22,000 0 0
iShares MSCI Brazil ETF MSCI BRAZIL ETF 464286400 6,737 240,000 SH   SOLE   240,000 0 0
iShares MSCI Brazil ETF PUT 464286950 3,102 2,400 SH Put SOLE   2,400 0 0
iShares MSCI Chile ETF MSCI CHILE ETF 464286640 4,883 211,465 SH   SOLE   211,465 0 0
iShares MSCI Chile ETF PUT 464286950 240 600 SH Put SOLE   600 0 0
iShares MSCI Emerging Markets MSCI EMG MKT ETF 464287234 19,540 400,000 SH   SOLE   400,000 0 0
iShares MSCI Emerging Markets PUT 464287954 864 3,000 SH Put SOLE   3,000 0 0
iShares MSCI Emerging Markets PUT 464287954 363 1,000 SH Put SOLE   1,000 0 0
Banco Bradesco SA SP ADR PFD NEW 059460303 16,190 4,733,900 SH   SOLE   4,733,900 0 0
Itau Unibanco Holding SA SPON ADR REP PFD 465562106 4,070 1,085,300 SH   SOLE   1,085,300 0 0
Embraer SA SPONSORED ADS 29082A107 1,128 63,560 SH   SOLE   63,560 0 0
Vasta Platform Ltd CL A G9440A109 3,009 711,404 SH   SOLE   711,404 0 0
Vinci Partners Investments Ltd COM CL A G9451V109 356 33,253 SH   SOLE   33,253 0 0
Adecoagro SA COM L00849106 5,840 760,480 SH   SOLE   760,480 0 0
Intercorp Financial Services I SHS P5626F128 2,066 78,319 SH   SOLE   78,319 0 0
Largo Inc COM 517097101 110 15,116 SH   SOLE   15,116 0 0
Geopark Ltd USD SHS G38327105 8,029 701,198 SH   SOLE   701,198 0 0
Ternium SA SPONSORED ADS 880890108 13,828 317,744 SH   SOLE   317,744 0 0
iShares Russell 2000 ETF PUT 464287955 159 300 SH Put SOLE   300 0 0
iShares MSCI Mexico ETF PUT 464286952 73 1,000 SH Put SOLE   1,000 0 0
iShares MSCI Mexico ETF PUT 464286952 355 2,120 SH Put SOLE   2,120 0 0