The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it 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 |
| ACTAVIS PLC | SHS | G0083B108 | 382 | 1,284 | SH | DFND | 0 | 0 | 1,284 | ||
| ADECOAGRO S A | COM | L00849106 | 3,414 | 334,062 | SH | DFND | 0 | 0 | 334,062 | ||
| ADECOAGRO S A | COM | L00849106 | 13,352 | 1,306,413 | SH | SOLE | 1,306,413 | 0 | 0 | ||
| ADECOAGRO S A | COM | L00849106 | 1,737 | 170,000 | SH | Call | SOLE | 170,000 | 0 | 0 | |
| ALTRIA GROUP INC | COM | 02209S103 | 200 | 4,008 | SH | DFND | 0 | 0 | 4,008 | ||
| APPLE INC | COM | 037833100 | 2,238 | 17,985 | SH | DFND | 0 | 0 | 17,985 | ||
| ARCOS DORADOS HOLDINGS INC | SHS CLASS -A - | G0457F107 | 593 | 120,278 | SH | SOLE | 120,278 | 0 | 0 | ||
| ARCOS DORADOS HOLDINGS INC | SHS CLASS -A - | G0457F107 | 493 | 100,000 | SH | Call | SOLE | 100,000 | 0 | 0 | |
| BIOGEN INC | COM | 09062X103 | 277 | 655 | SH | DFND | 0 | 0 | 655 | ||
| CURRENCYSHS JAPANESE YEN TR | JAPANESE YEN | 23130A102 | 891 | 11,000 | SH | Put | SOLE | 11,000 | 0 | 0 | |
| DISNEY WALT CO | COM DISNEY | 254687106 | 524 | 5,000 | SH | DFND | 0 | 0 | 5,000 | ||
| EMERSON ELEC CO | COM | 291011104 | 205 | 3,615 | SH | DFND | 0 | 0 | 3,615 | ||
| EMPRESA DIST Y COMERCIAL NOR | SPON ADR | 29244A102 | 2,246 | 139,005 | SH | SOLE | 139,005 | 0 | 0 | ||
| EXTREME NETWORKS INC | COM | 30226D106 | 32 | 10,000 | SH | DFND | 0 | 0 | 10,000 | ||
| FACEBOOK INC | CL A | 30303M102 | 210 | 2,556 | SH | DFND | 0 | 0 | 2,556 | ||
| GENERAL MLS INC | COM | 370334104 | 256 | 4,530 | SH | DFND | 0 | 0 | 4,530 | ||
| GEOPARK LTD | USD SHS | G38327105 | 789 | 206,114 | SH | SOLE | 206,114 | 0 | 0 | ||
| GLAXOSMITHKLINE PLC | SPONSORED ADR | 37733W105 | 331 | 7,168 | SH | DFND | 0 | 0 | 7,168 | ||
| GLOBALSTAR INC | COM | 378973408 | 77 | 23,000 | SH | DFND | 0 | 0 | 23,000 | ||
| GRUPO FINANCIERO GALICIA S A | SP ADR 10 SH B | 399909100 | 1,158 | 50,000 | SH | Call | SOLE | 50,000 | 0 | 0 | |
| IRSA INVERSIONES Y REP S A | GLOBL DEP RCPT | 450047204 | 4,335 | 219,935 | SH | SOLE | 219,935 | 0 | 0 | ||
| IRSA PROPIEDADES COMERCIALES | SPONSORED ADR | 463588103 | 277 | 9,304 | SH | SOLE | 9,304 | 0 | 0 | ||
| ISHARES | MSCI BRZ CAP ETF | 464286400 | 314 | 10,000 | SH | Call | SOLE | 10,000 | 0 | 0 | |
| ISHARES TR | HDG MSCI GERMN | 46434V704 | 9,658 | 338,409 | SH | DFND | 0 | 0 | 338,409 | ||
| ISHARES TR | NASDQ BIOTEC ETF | 464287556 | 776 | 2,260 | SH | DFND | 0 | 0 | 2,260 | ||
| MID-AMER APT CMNTYS INC | COM | 59522J103 | 434 | 5,623 | SH | DFND | 0 | 0 | 5,623 | ||
| NORFOLK SOUTHERN CORP | COM | 655844108 | 780 | 7,575 | SH | DFND | 0 | 0 | 7,575 | ||
| PAMPA ENERGIA S A | SPONS ADR LVL I | 697660207 | 11,511 | 651,467 | SH | SOLE | 651,467 | 0 | 0 | ||
| PAMPA ENERGIA S A | SPONS ADR LVL I | 697660207 | 4,422 | 250,281 | SH | DFND | 0 | 0 | 250,281 | ||
| PETROBRAS ARGENTINA S A | SPONS ADR | 71646J109 | 2,257 | 330,425 | SH | DFND | 0 | 0 | 330,425 | ||
| PETROBRAS ARGENTINA S A | SPONS ADR | 71646J109 | 14,735 | 2,157,361 | SH | SOLE | 2,157,361 | 0 | 0 | ||
| PETROBRAS ARGENTINA S A | SPONS ADR | 71646J109 | 1,489 | 218,000 | SH | Call | SOLE | 218,000 | 0 | 0 | |
| PHILIP MORRIS INTL INC | COM | 718172109 | 233 | 3,095 | SH | DFND | 0 | 0 | 3,095 | ||
| POWERSHARES ETF TRUST | INTL DIV ACHV | 73935X716 | 442 | 25,369 | SH | DFND | 0 | 0 | 25,369 | ||
| PROCTER & GAMBLE CO | COM | 742718109 | 262 | 3,200 | SH | DFND | 0 | 0 | 3,200 | ||
| QUINSTREET INC | COM | 74874Q100 | 80 | 13,525 | SH | DFND | 0 | 0 | 13,525 | ||
| REGIONS FINL CORP NEW | COM | 7591EP100 | 215 | 22,802 | SH | DFND | 0 | 0 | 22,802 | ||
| SEAGATE TECHNOLOGY PLC | SHS | G7945M107 | 203 | 3,900 | SH | DFND | 0 | 0 | 3,900 | ||
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 | 1,795 | 24,763 | SH | DFND | 0 | 0 | 24,763 | ||
| SOUTHERN CO | COM | 842587107 | 287 | 6,476 | SH | DFND | 0 | 0 | 6,476 | ||
| SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 4,950 | 23,979 | SH | DFND | 0 | 0 | 23,979 | ||
| TELECOM ARGENTINA S A | SPON ADR REP B | 879273209 | 2,253 | 99,196 | SH | DFND | 0 | 0 | 99,196 | ||
| TELECOM ARGENTINA S A | SPON ADR REP B | 879273209 | 12,427 | 547,219 | SH | SOLE | 547,219 | 0 | 0 | ||
| TERNIUM SA | SPON ADR | 880890108 | 1,084 | 60,000 | SH | Call | SOLE | 60,000 | 0 | 0 | |
| TERNIUM SA | SPON ADR | 880890108 | 6,575 | 363,861 | SH | SOLE | 363,861 | 0 | 0 | ||
| TESLA MTRS INC | COM | 88160R101 | 429 | 2,274 | SH | DFND | 0 | 0 | 2,274 | ||
| TORCHMARK CORP | COM | 891027104 | 5,966 | 108,638 | SH | DFND | 0 | 0 | 108,638 | ||
| TRANSPORTADORA DE GAS SUR | SPON ADR B | 893870204 | 9 | 1,750 | SH | DFND | 0 | 0 | 1,750 | ||
| TRANSPORTADORA DE GAS SUR | SPON ADR B | 893870204 | 15,874 | 2,978,159 | SH | SOLE | 2,978,159 | 0 | 0 | ||
| UNITEDHEALTH GROUP INC | COM | 91324P102 | 348 | 2,944 | SH | DFND | 0 | 0 | 2,944 | ||
| VANGUARD SPECIALIZED PORTFOL | DIV APP ETF | 921908844 | 426 | 5,290 | SH | DFND | 0 | 0 | 5,290 | ||
| WASTE MGMT INC DEL | COM | 94106L109 | 271 | 5,000 | SH | DFND | 0 | 0 | 5,000 | ||
| WISDOMTREE TR | JAPN HEDGE EQT | 97717W851 | 14,418 | 261,577 | SH | DFND | 0 | 0 | 261,577 | ||
| WISDOMTREE TR | JAPN HEDGE EQT | 97717W851 | 289 | 5,250 | SH | SOLE | 5,250 | 0 | 0 | ||
| YPF SOCIEDAD ANONIMA | SPON ADR CL D | 984245100 | 16,511 | 601,488 | SH | SOLE | 601,488 | 0 | 0 | ||
| YPF SOCIEDAD ANONIMA | SPON ADR CL D | 984245100 | 6,721 | 244,834 | SH | DFND | 0 | 0 | 244,834 | ||