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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
Expires: July 31, 2015
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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
AUTOLIV INC COM 052800109 3,392,677 38,357 SH DFND 1,2 38,357 0 0
AUTONATION INC COM 05329W102 2,658,241 16,417 SH DFND 1,2 16,417 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 1,275,623 9,647 SH DFND 1,2 9,647 0 0
APTIV PLC COM SHS G3265R107 1,531,471 25,739 SH DFND 1,2 25,739 0 0
BORGWARNER INC COM 099724106 4,413,848 154,061 SH DFND 1,2 154,061 0 0
COSAN S A ADS 22113B103 5,749,016 1,101,344 SH DFND 1,2 1,101,344 0 0
IHS HOLDING LIMITED ORD SHS G4701H109 1,482,986 284,097 SH DFND 1,2 284,097 0 0
ISHARES GOLD TR ISHARES NEW 464285204 91,954,252 1,559,604 SH DFND 1,2 1,559,604 0 0
ISHARES INC MSCI BRAZIL ETF 464286400 2,186,832 84,597 SH DFND 1,2 84,597 0 0
MILLICOM INTL CELLULAR S A COM STK L6388F110 6,535,989 215,923 SH DFND 1,2 215,923 0 0
VANECK ETF TRUST GOLD MINERS ETF 92189F106 2,717,884 59,123 SH DFND 1,2 59,123 0 0
VANECK ETF TRUST JUNIOR GOLD MINE 92189F791 2,323,864 40,627 SH DFND 1,2 40,627 0 0