Bienville Capital Management 13F-HR Quarterly holdings report by institutional manager

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:	Oct 31, 2018
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
3M CO	COM	88579Y101	412	2,354	SH		DFND		0	0	2,354
ABBVIE INC	COM	00287Y109	702	11,344	SH		DFND		0	0	11,344
ADECOAGRO S A	COM	L00849106	5,158	470,191	SH		DFND		0	0	470,191
ADECOAGRO S A	COM	L00849106	38,553	3,514,409	SH		SOLE		3,514,409	0	0
AFLAC INC	COM	001055102	692	9,589	SH		DFND		0	0	9,589
ALBEMARLE CORP	COM	012653101	334	4,193	SH		DFND		0	0	4,193
ALEXION PHARMACEUTICALS INC	COM	015351109	397	3,400	SH		DFND		0	0	3,400
ALLERGAN PLC	SHS	G0177J108	344	1,489	SH		DFND		0	0	1,489
ALPHABET INC	CAP STK CL C	02079K107	592	855	SH		DFND		0	0	855
ALTRIA GROUP INC	COM	02209S103	556	8,011	SH		DFND		0	0	8,011
AMERICAN ELEC PWR INC	COM	025537101	264	3,770	SH		DFND		0	0	3,770
AMGEN INC	COM	031162100	255	1,678	SH		DFND		0	0	1,678
ANADARKO PETE CORP	COM	032511107	385	7,223	SH		DFND		0	0	7,223
ANHEUSER BUSCH INBEV SA/NV	SPONSORED ADR	03524A108	464	3,520	SH		DFND		0	0	3,520
APPLE INC	COM	037833100	3,033	31,730	SH		DFND		0	0	31,730
AT&T INC	COM	00206R102	224	5,187	SH		DFND		0	0	5,187
BANCO MACRO SA	SPON ADR B	05961W105	426	5,738	SH		DFND		0	0	5,738
BANCO MACRO SA	SPON ADR B	05961W105	16,195	218,209	SH		SOLE		218,209	0	0
BAXTER INTL INC	COM	071813109	234	5,162	SH		DFND		0	0	5,162
BBVA BANCO FRANCES S A	SPONSORED ADR	07329M100	10,107	489,933	SH		SOLE		489,933	0	0
BBVA BANCO FRANCES S A	SPONSORED ADR	07329M100	51	2,470	SH		DFND		0	0	2,470
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	1,270	8,770	SH		DFND		0	0	8,770
BIOGEN INC	COM	09062X103	207	856	SH		DFND		0	0	856
BROADCOM LTD	SHS	Y09827109	275	1,767	SH		DFND		0	0	1,767
BROOKFIELD ASSET MGMT INC	CL A LTD VT SH	112585104	446	13,500	SH		DFND		0	0	13,500
CANADIAN PAC RY LTD	COM	13645T100	232	1,800	SH		DFND		0	0	1,800
CARDINAL HEALTH INC	COM	14149Y108	313	4,000	SH		DFND		0	0	4,000
CATERPILLAR INC DEL	COM	149123101	243	3,200	SH		DFND		0	0	3,200
CHEVRON CORP NEW	COM	166764100	535	5,100	SH		DFND		0	0	5,100
CINCINNATI FINL CORP	COM	172062101	389	5,200	SH		DFND		0	0	5,200
COCA COLA CO	COM	191216100	890	19,562	SH		DFND		0	0	19,562
COMCAST CORP NEW	CL A	20030N101	548	8,409	SH		DFND		0	0	8,409
COMPANHIA ENERGETICA DE MINA	SP ADR N-V PFD	204409601	125	56,400	SH		SOLE		56,400	0	0
COMPANHIA PARANAENSE ENERG C	SPON ADR PFD	20441B407	5	535	SH		DFND		0	0	535
COMPANHIA PARANAENSE ENERG C	SPON ADR PFD	20441B407	242	26,960	SH		SOLE		26,960	0	0
CRESUD S A C I F Y A	SPONSORED ADR	226406106	10,904	771,667	SH		SOLE		771,667	0	0
DANAHER CORP DEL	COM	235851102	253	2,500	SH		DFND		0	0	2,500
DISNEY WALT CO	COM DISNEY	254687106	1,365	13,950	SH		DFND		0	0	13,950
DOW CHEM CO	COM	260543103	209	4,200	SH		DFND		0	0	4,200
ECO STIM ENERGY SOLUTIONS IN	COM	27888D101	7,195	2,480,926	SH		SOLE		2,480,926	0	0
EMERSON ELEC CO	COM	291011104	375	7,190	SH		DFND		0	0	7,190
EMPRESA DIST Y COMERCIAL NOR	SPON ADR	29244A102	5,665	323,517	SH		SOLE		323,517	0	0
ENTERPRISE PRODS PARTNERS L	COM	293792107	233	7,956	SH		DFND		0	0	7,956
EXTREME NETWORKS INC	COM	30226D106	34	10,000	SH		DFND		0	0	10,000
EXXON MOBIL CORP	COM	30231G102	443	4,721	SH		DFND		0	0	4,721
GENERAL ELECTRIC CO	COM	369604103	209	6,603	SH		DFND		0	0	6,603
GENERAL MLS INC	COM	370334104	494	6,930	SH		DFND		0	0	6,930
GEOPARK LTD	USD SHS	G38327105	1,685	518,342	SH		SOLE		518,342	0	0
GLAXOSMITHKLINE PLC	SPONSORED ADR	37733W105	409	9,340	SH		DFND		0	0	9,340
GLOBALSTAR INC	COM	378973408	48	39,632	SH		DFND		0	0	39,632
GRUPO FINANCIERO GALICIA S A	SP ADR 10 SH B	399909100	8,399	275,000	SH		SOLE		275,000	0	0
GRUPO FINANCIERO GALICIA S A	SP ADR 10 SH B	399909100	18,832	616,636	SH		SOLE		616,636	0	0
GRUPO FINANCIERO GALICIA S A	SP ADR 10 SH B	399909100	4,016	131,503	SH		DFND		0	0	131,503
GRUPO SUPERVIELLE S A	SPONSORED ADR	40054A108	7,116	556,370	SH		SOLE		556,370	0	0
GRUPO SUPERVIELLE S A	SPONSORED ADR	40054A108	2,233	174,581	SH		DFND		0	0	174,581
HALLIBURTON CO	COM	406216101	217	4,800	SH		DFND		0	0	4,800
HERSHEY CO	COM	427866108	387	3,408	SH		DFND		0	0	3,408
HOME DEPOT INC	COM	437076102	489	3,832	SH		DFND		0	0	3,832
ILLINOIS TOOL WKS INC	COM	452308109	457	4,380	SH		DFND		0	0	4,380
INGERSOLL-RAND PLC	SHS	G47791101	292	4,588	SH		DFND		0	0	4,588
INTEL CORP	COM	458140100	541	16,500	SH		DFND		0	0	16,500
IRSA INVERSIONES Y REP S A	GLOBL DEP RCPT	450047204	9,951	591,980	SH		SOLE		591,980	0	0
IRSA INVERSIONES Y REP S A	GLOBL DEP RCPT	450047204	214	12,750	SH		DFND		0	0	12,750
ISHARES	MSCI BRZ CAP ETF	464286400	5,974	197,993	SH		DFND		0	0	197,993
ISHARES GOLD TRUST	ISHARES	464285105	611	47,855	SH		DFND		0	0	47,855
ISHARES TR	RUS 1000 GRW ETF	464287614	3,793	37,791	SH		DFND		0	0	37,791
JOHNSON & JOHNSON	COM	478160104	874	7,203	SH		DFND		0	0	7,203
JPMORGAN CHASE & CO	ALERIAN ML ETN	46625H365	573	18,000	SH		DFND		0	0	18,000
KKR & CO L P DEL	COM UNITS	48248M102	190	15,400	SH		DFND		0	0	15,400
KRAFT HEINZ CO	COM	500754106	229	2,581	SH		DFND		0	0	2,581
L-3 COMMUNICATIONS HLDGS INC	COM	502424104	218	1,486	SH		DFND		0	0	1,486
LEVEL 3 COMMUNICATIONS INC	COM NEW	52729N308	569	11,041	SH		DFND		0	0	11,041
LOCKHEED MARTIN CORP	COM	539830109	728	2,932	SH		DFND		0	0	2,932
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	646	8,504	SH		DFND		0	0	8,504
MASTERCARD INC	CL A	57636Q104	304	3,450	SH		DFND		0	0	3,450
MCDONALDS CORP	COM	580135101	481	4,000	SH		DFND		0	0	4,000
MERCK & CO INC	COM	58933Y105	378	6,546	SH		DFND		0	0	6,546
MICROSOFT CORP	COM	594918104	307	5,997	SH		DFND		0	0	5,997
MID-AMER APT CMNTYS INC	COM	59522J103	2,088	19,623	SH		DFND		0	0	19,623
MONDELEZ INTL INC	CL A	609207105	385	8,446	SH		DFND		0	0	8,446
NIKE INC	CL B	654106103	475	8,600	SH		DFND		0	0	8,600
NORFOLK SOUTHERN CORP	COM	655844108	866	10,175	SH		DFND		0	0	10,175
NUCOR CORP	COM	670346105	302	6,111	SH		DFND		0	0	6,111
PAMPA ENERGIA S A	SPONS ADR LVL I	697660207	7,601	278,026	SH		DFND		0	0	278,026
PAMPA ENERGIA S A	SPONS ADR LVL I	697660207	48,593	1,777,371	SH		SOLE		1,777,371	0	0
PEPSICO INC	COM	713448108	392	3,696	SH		DFND		0	0	3,696
PETROBRAS ARGENTINA S A	SPONS ADR	71646J109	11,310	1,800,926	SH		SOLE		1,800,926	0	0
PETROBRAS ARGENTINA S A	SPONS ADR	71646J109	2,255	359,032	SH		DFND		0	0	359,032
PFIZER INC	COM	717081103	365	10,360	SH		DFND		0	0	10,360
PHILIP MORRIS INTL INC	COM	718172109	456	4,452	SH		DFND		0	0	4,452
PHILLIPS 66	COM	718546104	275	3,468	SH		DFND		0	0	3,468
POWERSHARES ETF TRUST	INTL DIV ACHV	73935X716	312	22,160	SH		DFND		0	0	22,160
PROCTER & GAMBLE CO	COM	742718109	962	11,362	SH		DFND		0	0	11,362
PROSHARES TR	PSHS LC COR PLUS	74347R248	460	9,000	SH		DFND		0	0	9,000
Q2 HLDGS INC	COM	74736L109	222	7,910	SH		DFND		0	0	7,910
QUALCOMM INC	COM	747525103	289	5,387	SH		DFND		0	0	5,387
QUANTUM CORP	COM DSSG	747906204	14	32,460	SH		DFND		0	0	32,460
QUINSTREET INC	COM	74874Q100	48	13,525	SH		DFND		0	0	13,525
RAYTHEON CO	COM NEW	755111507	279	2,050	SH		DFND		0	0	2,050
REGIONS FINL CORP NEW	COM	7591EP100	203	23,802	SH		DFND		0	0	23,802
SCHLUMBERGER LTD	COM	806857108	539	6,800	SH		DFND		0	0	6,800
SHIRE PLC	SPONSORED ADR	82481R106	450	2,444	SH		DFND		0	0	2,444
SOUTHERN CO	COM	842587107	565	10,536	SH		DFND		0	0	10,536
SPDR SERIES TRUST	DJ REIT ETF	78464A607	637	6,411	SH		DFND		0	0	6,411
STERICYCLE INC	COM	858912108	328	3,150	SH		DFND		0	0	3,150
TE CONNECTIVITY LTD	REG SHS	H84989104	202	3,536	SH		DFND		0	0	3,536
TELECOM ARGENTINA S A	SPON ADR REP B	879273209	2,196	119,830	SH		DFND		0	0	119,830
TELECOM ARGENTINA S A	SPON ADR REP B	879273209	23,167	1,263,868	SH		SOLE		1,263,868	0	0
TERNIUM SA	SPON ADR	880890108	1,714	89,902	SH		DFND		0	0	89,902
TERNIUM SA	SPON ADR	880890108	13,519	709,287	SH		SOLE		709,287	0	0
TESLA MTRS INC	COM	88160R101	697	3,283	SH		DFND		0	0	3,283
THERMO FISHER SCIENTIFIC INC	COM	883556102	245	1,660	SH		DFND		0	0	1,660
TORCHMARK CORP	COM	891027104	5,843	94,513	SH		DFND		0	0	94,513
TRANSPORTADORA DE GAS SUR	SPON ADR B	893870204	125	18,476	SH		DFND		0	0	18,476
TRANSPORTADORA DE GAS SUR	SPON ADR B	893870204	26,853	3,978,170	SH		SOLE		3,978,170	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	973	6,894	SH		DFND		0	0	6,894
US BANCORP DEL	COM NEW	902973304	253	6,250	SH		DFND		0	0	6,250
VANECK VECTORS ETF TR	JP MORGAN MKTS	92189F494	201	10,640	SH		DFND		0	0	10,640
VANECK VECTORS ETF TR	AGRIBUSINESS ETF	92189F700	216	4,500	SH		DFND		0	0	4,500
VANECK VECTORS ETF TR	VIETNAM ETF	92189F817	186	12,700	SH		SOLE		12,700	0	0
VANGUARD INTL EQUITY INDEX F	ALLWRLD EX US	922042775	643	15,000	SH		DFND		0	0	15,000
VANGUARD SPECIALIZED PORTFOL	DIV APP ETF	921908844	623	7,487	SH		DFND		0	0	7,487
VANGUARD WORLD FDS	CONSUM DIS ETF	92204A108	232	1,900	SH		DFND		0	0	1,900
VANGUARD WORLD FDS	INF TECH ETF	92204A702	361	3,370	SH		DFND		0	0	3,370
VERIZON COMMUNICATIONS INC	COM	92343V104	228	4,088	SH		DFND		0	0	4,088
VISA INC	COM CL A	92826C839	386	5,200	SH		DFND		0	0	5,200
VULCAN MATLS CO	COM	929160109	506	4,200	SH		DFND		0	0	4,200
WALGREENS BOOTS ALLIANCE INC	COM	931427108	550	6,600	SH		DFND		0	0	6,600
WASTE MGMT INC DEL	COM	94106L109	464	7,000	SH		DFND		0	0	7,000
WEYERHAEUSER CO	COM	962166104	207	6,946	SH		DFND		0	0	6,946
WHITING PETE CORP NEW	COM	966387102	95	10,291	SH		DFND		0	0	10,291
WISDOMTREE TR	INDIA ERNGS FD	97717W422	464	23,000	SH		SOLE		23,000	0	0
WISDOMTREE TR	JP SMALLCP DIV	97717W836	986	17,713	SH		DFND		0	0	17,713
YPF SOCIEDAD ANONIMA	SPON ADR CL D	984245100	5,760	300,000	SH		SOLE		300,000	0	0
YPF SOCIEDAD ANONIMA	SPON ADR CL D	984245100	4,706	245,096	SH		DFND		0	0	245,096
YPF SOCIEDAD ANONIMA	SPON ADR CL D	984245100	15,762	819,831	SH		SOLE		819,831	0	0