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
Expires: July 31, 2015
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
COMPHANIA DE BEBIDAS DAS AMERICAS AMBEV SPONSORED ADR 02319V103 159,738 50,872 SH SOLE 0 50,872 0 0
APPLIED OPTOELR COM 03823U102 5,259,680 35,500 SH SOLE 0 35,500 0 0
ALPHABET INC CLASS A COMMON STOCK CAP STK CL A 02079K305 15,688,543 43,900 SH SOLE 0 43,900 0 0
ULTRAPAR PARTICIPACOES SP ADR REP COM 90400P101 1,897,675 378,023 SH SOLE 0 378,023 0 0
PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101 14,536,027 992,898 SH SOLE 0 992,898 0 0
PETROLEO BRASILEIRO ADR SPONSORED ADR 71654V408 1,300,557 80,480 SH SOLE 0 80,480 0 0
MICROSOFT CORPORATION COM 594918104 13,988,250 37,500 SH SOLE 0 37,500 0 0
SEAGATE TECHNOLOGY HOLDINGS ORD SHS G7997R103 5,018,000 5,200 SH SOLE 0 5,200 0 0
AMAZON.COM INC COM 023135106 0 0 SH SOLE 0 0 0 0
META PLATFORMS INC CL A 30303M102 695,663 1,235 SH SOLE 0 1,235 0 0
MASTERCARD INCORPORATED CL A 57636Q104 1,068,288 2,080 SH SOLE 0 2,080 0 0
INTEL CORP COM 458140100 640,902 4,590 SH SOLE 0 4,590 0 0
WESTERN DIGITAL COM 958102105 7,217,536 11,300 SH SOLE 0 11,300 0 0
APTIV HOLDINGS LTD COM SHS G3265R107 84,091 1,370 SH SOLE 0 1,370 0 0
QUALCOMM INC COM 747525103 190,334 1,030 SH SOLE 0 1,030 0 0
FREEPORT-MCMORAN INC CL B 35671D857 21,638,940 344,076 SH SOLE 0 344,076 0 0
LUMENTUM HOLDINGS INC COM 55024U109 6,435,450 7,500 SH SOLE 0 7,500 0 0
VALE SA SP ADR SPONSORED ADS 91912E105 5,993,335 398,493 SH SOLE 0 398,493 0 0
XP INC - CLASS A CL A G98239109 78,261,526 4,813,132 SH SOLE 0 4,813,132 0 0
STONECO LTD-A COM CL A G85158106 32,563,739 3,004,035 SH SOLE 0 3,004,035 0 0
COHERENT CORP COM 19247G107 6,607,373 16,750 SH SOLE 0 16,750 0 0
MICRON TECHNOLOGY INC COM 595112103 16,737,205 14,500 SH SOLE 0 14,500 0 0
NVIDIA CORP COM 67066G104 10,284,626 51,400 SH SOLE 0 51,400 0 0
CREDICORP COM G2519Y108 17,128,664 43,967 SH SOLE 0 43,967 0 0
INTERCORP FINANCIAL SERVICES SHS P5626F128 22,872,060 401,546 SH SOLE 0 401,546 0 0
BANCO MACRO BANSUD SA SPON ADR B 05961W105 1,719,119 18,567 SH SOLE 0 18,567 0 0
TIM SA-ADR SPONSORED ADR 88706T108 121,451 5,670 SH SOLE 0 5,670 0 0
BANCO SANTANDER CHILE SP ADR REP COM 05965X109 11,087,860 336,710 SH SOLE 0 336,710 0 0
CIA PARANAENSE DE ENER-ADR SPONSORED ADS 20441B704 5,432,756 466,331 SH SOLE 0 466,331 0 0
PAMPA ENERGIA SA SPONS ADR LVL I 697660207 44,977,427 547,637 SH SOLE 0 547,637 0 0
COMPNHIA ENRG SP ADR N-V PFD 204409601 865,393 412,092 SH SOLE 0 412,092 0 0
EMBRAER SA SPONSORED ADR 29082A107 32,105,755 503,225 SH SOLE 0 503,225 0 0
LATAM AIRLINES GROUP-SP ADR SPONSORED ADR 51817R205 60,987,596 1,046,638 SH SOLE 0 1,046,638 0 0
TELECOM ARGENTINA SPON ADR REP B 879273209 30,165,343 2,320,411 SH SOLE 0 2,320,411 0 0
ISHARES MSCI BRAZIL ETF MSCI BRAZIL ETF 464286400 20,056,506 581,348 SH SOLE 0 581,348 0 0
INTER & CO INC - CL A CLASS A COM G4R20B107 18,543,086 3,414,933 SH SOLE 0 3,414,933 0 0
BANCO DE CHILE SPONSORED ADS 059520106 124,489 3,131 SH SOLE 0 3,131 0 0
SUZANO SA SPON ADS 86959K105 291,939 37,621 SH SOLE 0 37,621 0 0
VINCI COMPASS INVESTMENTS LTD COM CL A G9451V109 43,215,960 4,441,517 SH SOLE 0 4,441,517 0 0
TRANSPORT GAS SUR B ADR SPONSORED ADS B 893870204 53,977,491 1,815,590 SH SOLE 0 1,815,590 0 0
AXIA ENERGIA SA SPON ADS PF CL C 15236F100 19,085 1,809 SH SOLE 0 1,809 0 0
AXIA ENERGIA SA SPONSORED ADR 15234Q207 1,040,107 98,495 SH SOLE 0 98,495 0 0
GRUPO FINANCIERO GALICIA SPONSORED ADR 399909100 4,252,550 85,000 SH SOLE 0 85,000 0 0
ARCOS DORADOS HOLDINGS INC SHS CLASS -A - G0457F107 36,280,696 4,501,327 SH SOLE 0 4,501,327 0 0
GRUPO CIBEST SA-ADR SPON ADS 40090E106 7,841,886 98,727 SH SOLE 0 98,727 0 0
AZUL SA-SPON ADR SPONSORED ADR 05501U601 140,927 15,676 SH SOLE 0 15,676 0 0
COSAN SA -ADR -W/I ADS 22113B103 1,224 425 SH SOLE 0 425 0 0
RIO TINTO PLC SPONSORED ADR 767204100 29,294,069 308,586 SH SOLE 0 308,586 0 0
ISHARE CHINA LARGE CAP ETF CHINA LG-CAP ETF 464287184 801,438 25,370 SH SOLE 0 25,370 0 0
COMPNHIA ENRG C SPONSORED ADR 204409882 0 0 SH SOLE 0 0 0 0
EVE HOLDING INC COM 29970N104 1,040,726 414,632 SH SOLE 0 414,632 0 0
HALLIBURTON CO COM 406216101 29,750,385 876,300 SH SOLE 0 876,300 0 0
BANCO BRADESCO SP ADR PFD NEW 059460303 30,755,648 8,863,299 SH SOLE 0 8,863,299 0 0
ITAU UNIBANCO HOLDING SA SPON ADR REP PFD 465562106 3,914,811 479,169 SH SOLE 0 479,169 0 0
PATRIA INVESTMENTS LTD-A COM CL A G69451105 203,569 18,540 SH SOLE 0 18,540 0 0
BHP BILLITON LTD -SPON ADR SPONSORED ADR 088606108 0 0 SH SOLE 0 0 0 0
BASIC SANITATION COMPANY OF THE STATE OF SPONSORED ADR 20441A102 2,036,947 352,413 SH SOLE 0 352,413 0 0
ACM RESEARCH, INC. CMN CLASS A COM 00108J109 1,752,985 13,815 SH SOLE 0 13,815 0 0
ALPHABET INC. CMN CLASS A COM 02079K305 6,200,370 17,350 SH SOLE 0 17,350 0 0
AMAZON.COM INC CMN COM 023135106 14,478,202 60,746 SH SOLE 0 60,746 0 0
APPLE INC. CMN COM 037833100 2,257,008 7,800 SH SOLE 0 7,800 0 0
APPLIED MATERIALS INC CMN COM 038222105 903,750 1,250 SH SOLE 0 1,250 0 0
BOOKING HOLDINGS INC. CMN COM 09857L108 3,557,849 19,961 SH SOLE 0 19,961 0 0
BROADCOM INC. CMN COM 11135F101 2,681,270 7,098 SH SOLE 0 7,098 0 0
COSTCO WHOLESALE CORPORATION CMN COM 22160K105 1,496,752 1,600 SH SOLE 0 1,600 0 0
META PLATFORMS INC-CLASS A CMN CLASS A COM 30303M102 13,965,086 24,792 SH SOLE 0 24,792 0 0
HYPERLIQUID STRATEGIES INC CMN COM 44916Y106 860,427 109,330 SH SOLE 0 109,330 0 0
LAM RESEARCH CORPORATION CMN COM 512807306 747,494 1,725 SH SOLE 0 1,725 0 0
LUMENTUM HOLDINGS INC. CMN COM 55024U109 1,179,832 1,375 SH SOLE 0 1,375 0 0
MASTERCARD INCORPORATED CMN CLASS A COM 57636Q104 15,213,859 29,622 SH SOLE 0 29,622 0 0
MICROSOFT CORPORATION CMN COM 594918104 10,055,500 26,957 SH SOLE 0 26,957 0 0
MICRON TECHNOLOGY, INC. CMN COM 595112103 2,981,531 2,583 SH SOLE 0 2,583 0 0
NATERA, INC. CMN COM 632307104 1,465,830 5,400 SH SOLE 0 5,400 0 0
NVIDIA CORPORATION CMN COM 67066G104 12,273,321 61,339 SH SOLE 0 61,339 0 0
ORACLE CORPORATION CMN COM 68389X105 1,665,541 11,365 SH SOLE 0 11,365 0 0
ROBINHOOD MARKETS, INC. CMN COM 770700102 1,437,815 14,338 SH SOLE 0 14,338 0 0
TAIWAN SEMICONDUCTOR MFG ADS LTD ADS 1ADS EQUALS 5ORDS COM 874039100 13,668,531 28,621 SH SOLE 0 28,621 0 0
TERADYNE INC CMN COM 880770102 1,869,558 3,864 SH SOLE 0 3,864 0 0
TERAWULF INC CMN COM 88080T104 638,273 25,841 SH SOLE 0 25,841 0 0
VNET GROUP INC SPONSORED ADR CMN COM 90138A103 641,496 79,788 SH SOLE 0 79,788 0 0
VERTIV HOLDINGS LLC CMN CLASS A COM 92537N108 821,648 2,454 SH SOLE 0 2,454 0 0
VISA INC. CMN CLASS A COM 92826C839 15,616,428 45,517 SH SOLE 0 45,517 0 0
WALMART INC CMN COM 931142103 1,495,598 13,205 SH SOLE 0 13,205 0 0
APTIV PLC CMN COM G3265R107 552,420 9,000 SH SOLE 0 9,000 0 0
SHARKNINJA, INC. CMN COM G8068L108 1,798,004 11,808 SH SOLE 0 11,808 0 0
ON HOLDING AG CMN CLASS A COM H5919C104 3,839,953 108,412 SH SOLE 0 108,412 0 0
SPOTIFY TECHNOLOGY S.A. CMN COM L8681T102 3,960,455 8,626 SH SOLE 0 8,626 0 0
ASML HOLDING N.V. ADR CMN COM N07059210 578,927 291 SH SOLE 0 291 0 0