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
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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
COMPANIA DE MINAS BUENAVENTU SPONSORED ADR 204448104 1,292,007 82,662 SH SOLE 82,662 0 0
CONTROLADORA VUELA COMP DE A SPON ADR RP 10 21240E105 1,537,066 294,457 SH SOLE 294,457 0 0
ISHARES INC MSCI AUST ETF 464286103 500,116 21,336 SH SOLE 21,336 0 0
ISHARES INC MSCI CDA ETF 464286509 1,918,918 47,090 SH SOLE 47,090 0 0
ISHARES INC MSCI JPN ETF NEW 46434G822 205,200 2,993 SH SOLE 2,993 0 0
ISHARES INC MSCI STH AFR ETF 464286780 871,682 18,111 SH SOLE 18,111 0 0
ISHARES INC MSCI STH KOR ETF 464286772 647,886 11,989 SH SOLE 11,989 0 0
ISHARES TR CORE S&P500 ETF 464287200 4,888,530 8,700 SH SOLE 8,700 0 0
ISHARES TR CORE US AGGBD ET 464287226 7,499,224 75,811 SH SOLE 75,811 0 0
ISHARES TR IBOXX HI YD ETF 464288513 502,056 6,364 SH SOLE 6,364 0 0
ISHARES TR LATN AMER 40 ETF 464287390 1,660,605 70,514 SH SOLE 70,514 0 0
ISHARES TR MBS ETF 464288588 269,430 2,873 SH SOLE 2,873 0 0
ISHARES TR MSCI ACWI ETF 464288257 5,728,134 49,215 SH SOLE 49,215 0 0
ISHARES TR MSCI AC ASIA ETF 464288182 2,699,742 36,483 SH SOLE 36,483 0 0
ISHARES TR MSCI CHINA ETF 46429B671 2,222,512 40,855 SH SOLE 40,855 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 616,345 14,104 SH SOLE 14,104 0 0
ISHARES TR MSCI INDIA ETF 46429B598 605,765 11,767 SH SOLE 11,767 0 0
ISHARES TR MSCI SAUDI ARBIA 46434V423 1,084,390 26,212 SH SOLE 26,212 0 0
ISHARES TR MSCI UAE ETF 46434V761 421,925 24,863 SH SOLE 24,863 0 0
MERCADOLIBRE INC COM 58733R102 30,626,840 15,712 SH SOLE 15,712 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 9,315,967 649,649 SH SOLE 649,649 0 0
SOCIEDAD QUIMICA Y MINERA DE SPON ADR SER B 833635105 3,728,263 93,840 SH SOLE 93,840 0 0
SOUTHERN COPPER CORP COM 84265V105 2,010,792 21,515 SH SOLE 21,515 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 3,932,512 7,030 SH SOLE 7,030 0 0
VALE S A SPONSORED ADS 91912E105 6,319,885 633,255 SH SOLE 633,255 0 0
VANGUARD BD INDEX FDS TOTAL BND MRKT 921937835 2,074,963 28,250 SH SOLE 28,250 0 0