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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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
BAP US COM G2519Y108 81,383,262 208,900 SH SOLE 208,900 0 0
Ambev - SA SPONSORED ADR 02319V103 75,576,660 24,069,000 SH SOLE 24,069,000 0 0
Itau Unibanco H Spon PRF SPONSORED ADR 465562106 89,127,690 10,909,142 SH SOLE 10,909,142 0 0
XP Inc. Class A G98239109 63,592,860 3,911,000 SH SOLE 3,911,000 0 0
COCA-COLA FEMSA SAB-SP ADR SPONSORED ADR 191241108 3,081,250 29,000 SH SOLE 29,000 0 0
Anheuser Busch Inbev SA NV SPONSORED ADR 03524A108 85,201,600 1,034,000 SH SOLE 1,034,000 0 0
ARCOS DORADOS HOLDINGS Class A G0457F107 3,224,000 400,000 SH SOLE 400,000 0 0
Suzano SA SPONSORED ADS 86959K105 3,104,000 400,000 SH SOLE 400,000 0 0
HDFC Bank LTD SPONSORED ADS 40415F101 29,652,840 1,148,000 SH SOLE 1,148,000 0 0