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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
VISTA ENERGY S.A.B. DE C.V. SPONSORED ADS 92837L109   961 61,352 SH   SOLE   61,352 0 0
COPA HOLDINGS SA NOTE 4.500% 4/1 21720AAB8   16,993 10,000,000 SH   SOLE   10,000,000 0 0
MERCADOLIBRE INC NOTE 2.000% 8/1 58733RAD4   10,106 5,000,000 SH   SOLE   5,000,000 0 0
PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101   21,367 2,300,000 SH   SOLE   2,300,000 0 0
PETROLEO BRASILEIRO SA PETRO PUT 71654V958   180 7,069 SH Put SOLE   7,069 0 0
PETROLEO BRASILEIRO SA PETRO PUT 71654V958   3,183 20,736 SH Put SOLE   20,736 0 0
VALE S A SPONSORED ADS 91912E105   5,880 346,500 SH   SOLE   346,500 0 0
VALE S A PUT 91912E955   2,798 3,465 SH Put SOLE   3,465 0 0
BANCO DE CHILE SPONSORED ADS 059520106   2,858 137,281 SH   SOLE   137,281 0 0
ISHARES GOLD TR ISHARES NEW 464285204   21,446 620,000 SH   SOLE   620,000 0 0
ISHARES SILVER TR ISHARES 46428Q109   2,863 130,000 SH   SOLE   130,000 0 0
EMBRAER S.A. SPONSORED ADS 29082A107   5,185 474,356 SH   SOLE   474,356 0 0
GEOPARK LTD USD SHS G38327105   6,367 412,128 SH   SOLE   412,128 0 0
BANCOLOMBIA S A SPON ADR PREF 05968L102   1,257 44,048 SH   SOLE   44,048 0 0
CEMENTOS PACASMAYO S A A SPONSORED ADR 15126Q208   353 68,401 SH   SOLE   68,401 0 0
TERNIUM SA SPONSORED ADS 880890108   10,899 356,650 SH   SOLE   356,650 0 0
ISHARES TR JPMORGAN USD EMG 464288281   8,459 100,000 SH   SOLE   100,000 0 0