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	443	2,315	SH		DFND		0	0	2,315
ABBOTT LABS	COM	002824100	219	4,940	SH		DFND		0	0	4,940
ABBVIE INC	COM	00287Y109	773	11,858	SH		DFND		0	0	11,858
ADECOAGRO S A	COM	L00849106	9,168	800,000	SH	Call	SOLE		800,000	0	0
ADECOAGRO S A	COM	L00849106	32,057	2,797,286	SH		SOLE		2,797,286	0	0
ADECOAGRO S A	COM	L00849106	6,493	566,608	SH		DFND		0	0	566,608
ADOBE SYS INC	COM	00724F101	260	2,000	SH		DFND		0	0	2,000
AFLAC INC	COM	001055102	694	9,589	SH		DFND		0	0	9,589
ALBEMARLE CORP	COM	012653101	710	6,705	SH		DFND		0	0	6,705
ALEXION PHARMACEUTICALS INC	COM	015351109	497	4,100	SH		DFND		0	0	4,100
ALLERGAN PLC	SHS	G0177J108	402	1,683	SH		DFND		0	0	1,683
ALPHABET INC	CAP STK CL C	02079K107	900	1,085	SH		DFND		0	0	1,085
ALTRIA GROUP INC	COM	02209S103	600	8,335	SH		DFND		0	0	8,335
AMAZON COM INC	COM	023135106	301	340	SH		DFND		0	0	340
AMERICAN ELEC PWR INC	COM	025537101	253	3,770	SH		DFND		0	0	3,770
AMGEN INC	COM	031162100	367	2,237	SH		DFND		0	0	2,237
ANADARKO PETE CORP	COM	032511107	355	5,728	SH		DFND		0	0	5,728
ANHEUSER BUSCH INBEV SA/NV	SPONSORED ADR	03524A108	222	2,020	SH		DFND		0	0	2,020
APPLE INC	COM	037833100	3,524	24,527	SH		DFND		0	0	24,527
BANCO MACRO SA	SPON ADR B	05961W105	14,262	164,500	SH		SOLE		164,500	0	0
BANCO MACRO SA	SPON ADR B	05961W105	642	7,410	SH		DFND		0	0	7,410
BAXTER INTL INC	COM	071813109	236	4,552	SH		DFND		0	0	4,552
BBVA BANCO FRANCES S A	SPONSORED ADR	07329M100	6,072	329,630	SH		SOLE		329,630	0	0
BBVA BANCO FRANCES S A	SPONSORED ADR	07329M100	26	1,394	SH		DFND		0	0	1,394
BECTON DICKINSON & CO	COM	075887109	203	1,108	SH		DFND		0	0	1,108
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	1,833	10,995	SH		DFND		0	0	10,995
BIOGEN INC	COM	09062X103	235	861	SH		DFND		0	0	861
BLACKROCK 2022 GBL INCM OPP	COM	09258P104	250	25,000	SH		DFND		0	0	25,000
BROADCOM LTD	SHS	Y09827109	365	1,667	SH		DFND		0	0	1,667
BROOKFIELD ASSET MGMT INC	CL A LTD VT SH	112585104	565	15,500	SH		DFND		0	0	15,500
CANADIAN PAC RY LTD	COM	13645T100	265	1,800	SH		DFND		0	0	1,800
CARDINAL HEALTH INC	COM	14149Y108	328	4,000	SH		DFND		0	0	4,000
CATERPILLAR INC DEL	COM	149123101	297	3,200	SH		DFND		0	0	3,200
CHESAPEAKE ENERGY CORP	COM	165167107	891	150,000	SH		DFND		0	0	150,000
CHEVRON CORP NEW	COM	166764100	709	6,600	SH		DFND		0	0	6,600
CINCINNATI FINL CORP	COM	172062101	378	5,200	SH		DFND		0	0	5,200
CISCO SYS INC	COM	17275R102	252	7,446	SH		DFND		0	0	7,446
CME GROUP INC	COM	12572Q105	261	2,199	SH		DFND		0	0	2,199
COCA COLA CO	COM	191216100	671	15,680	SH		DFND		0	0	15,680
COMCAST CORP NEW	CL A	20030N101	596	15,850	SH		DFND		0	0	15,850
COMPANHIA BRASILEIRA DE DIST	SPN ADR PFD CL A	20440T201	1,862	97,000	SH		SOLE		97,000	0	0
COMPANHIA BRASILEIRA DE DIST	SPN ADR PFD CL A	20440T201	572	29,800	SH		DFND		0	0	29,800
COMPANHIA ENERGETICA DE MINA	SP ADR N-V PFD	204409601	2,538	771,400	SH		SOLE		771,400	0	0
COMPANHIA ENERGETICA DE MINA	SP ADR N-V PFD	204409601	671	204,010	SH		DFND		0	0	204,010
COMPANHIA PARANAENSE ENERG C	SPON ADR PFD	20441B407	1,928	187,000	SH		SOLE		187,000	0	0
COMPANHIA PARANAENSE ENERG C	SPON ADR PFD	20441B407	490	47,536	SH		DFND		0	0	47,536
CRESUD S A C I F Y A	SPONSORED ADR	226406106	15,380	766,309	SH		SOLE		766,309	0	0
DANAHER CORP DEL	COM	235851102	214	2,500	SH		DFND		0	0	2,500
DISNEY WALT CO	COM DISNEY	254687106	1,189	10,490	SH		DFND		0	0	10,490
DOW CHEM CO	COM	260543103	275	4,294	SH		DFND		0	0	4,294
ECO STIM ENERGY SOLUTIONS IN	COM	27888D101	3,486	2,979,534	SH		SOLE		2,979,534	0	0
EMERSON ELEC CO	COM	291011104	416	6,950	SH		DFND		0	0	6,950
EMPRESA DIST Y COMERCIAL NOR	SPON ADR	29244A102	6,088	174,950	SH		SOLE		174,950	0	0
ENBRIDGE INC	COM	29250N105	238	5,693	SH		DFND		0	0	5,693
ENTERPRISE PRODS PARTNERS L	COM	293792107	495	17,924	SH		DFND		0	0	17,924
EXTREME NETWORKS INC	COM	30226D106	75	10,000	SH		DFND		0	0	10,000
EXXON MOBIL CORP	COM	30231G102	269	3,285	SH		DFND		0	0	3,285
FACEBOOK INC	CL A	30303M102	450	3,171	SH		DFND		0	0	3,171
FIBRIA CELULOSE S A	SP ADR REP COM	31573A109	612	67,000	SH		SOLE		67,000	0	0
FIBRIA CELULOSE S A	SP ADR REP COM	31573A109	612	67,000	SH		DFND		0	0	67,000
FREEPORT-MCMORAN INC	CL B	35671D857	151	11,337	SH		DFND		0	0	11,337
GENERAL ELECTRIC CO	COM	369604103	250	8,379	SH		DFND		0	0	8,379
GENERAL MLS INC	COM	370334104	256	4,330	SH		DFND		0	0	4,330
GILEAD SCIENCES INC	COM	375558103	570	8,390	SH		DFND		0	0	8,390
GLAXOSMITHKLINE PLC	SPONSORED ADR	37733W105	365	8,550	SH		DFND		0	0	8,550
GLOBALSTAR INC	COM	378973408	64	40,047	SH		DFND		0	0	40,047
GRUPO FINANCIERO GALICIA S A	SP ADR 10 SH B	399909100	22,398	591,598	SH		SOLE		591,598	0	0
GRUPO FINANCIERO GALICIA S A	SP ADR 10 SH B	399909100	3,631	95,896	SH		DFND		0	0	95,896
GRUPO SUPERVIELLE S A	SPONSORED ADR	40054A108	17,849	1,049,955	SH		SOLE		1,049,955	0	0
GRUPO SUPERVIELLE S A	SPONSORED ADR	40054A108	3,416	200,958	SH		DFND		0	0	200,958
HALLIBURTON CO	COM	406216101	236	4,800	SH		DFND		0	0	4,800
HANNON ARMSTRONG SUST INFR C	COM	41068X100	202	10,000	SH		DFND		0	0	10,000
HASBRO INC	COM	418056107	295	2,958	SH		DFND		0	0	2,958
HCP INC	COM	40414L109	516	16,500	SH		DFND		0	0	16,500
HERSHEY CO	COM	427866108	372	3,408	SH		DFND		0	0	3,408
HOME DEPOT INC	COM	437076102	662	4,507	SH		DFND		0	0	4,507
HONEYWELL INTL INC	COM	438516106	387	3,101	SH		DFND		0	0	3,101
ILLINOIS TOOL WKS INC	COM	452308109	588	4,429	SH		DFND		0	0	4,429
INGERSOLL-RAND PLC	SHS	G47791101	372	4,572	SH		DFND		0	0	4,572
INTEL CORP	COM	458140100	617	17,100	SH		DFND		0	0	17,100
INTERCONTINENTAL EXCHANGE IN	COM	45866F104	239	4,000	SH		DFND		0	0	4,000
INTREPID POTASH INC	COM	46121Y102	4,404	2,560,728	SH		DFND		0	0	2,560,728
INVESCO HIGH INCOME 2023 TAR	COM	46135X108	201	20,000	SH		DFND		0	0	20,000
IRSA INVERSIONES Y REP S A	GLOBL DEP RCPT	450047204	12,005	489,804	SH		SOLE		489,804	0	0
IRSA INVERSIONES Y REP S A	GLOBL DEP RCPT	450047204	315	12,870	SH		DFND		0	0	12,870
ISHARES	MSCI BRZ CAP ETF	464286400	11,238	300,000	SH	Call	SOLE		300,000	0	0
ISHARES	MSCI BRZ CAP ETF	464286400	4,118	109,929	SH		DFND		0	0	109,929
ISHARES INC	CORE MSCI EMKT	46434G103	2,849	59,623	SH		DFND		0	0	59,623
ISHARES TR	MSCI ACWI ETF	464288257	212	3,350	SH		DFND		0	0	3,350
ISHARES TR	RUS 1000 GRW ETF	464287614	232	2,040	SH		DFND		0	0	2,040
ISHARES TR	RUS 1000 VAL ETF	464287598	8,501	73,959	SH		DFND		0	0	73,959
ISHARES TR	RUS 2000 VAL ETF	464287630	578	4,890	SH		DFND		0	0	4,890
JOHNSON & JOHNSON	COM	478160104	875	7,028	SH		DFND		0	0	7,028
JPMORGAN CHASE & CO	ALERIAN ML ETN	46625H365	509	15,750	SH		DFND		0	0	15,750
JPMORGAN CHASE & CO	COM	46625H100	537	6,111	SH		DFND		0	0	6,111
KKR & CO L P DEL	COM UNITS	48248M102	237	13,000	SH		DFND		0	0	13,000
KRAFT HEINZ CO	COM	500754106	234	2,581	SH		DFND		0	0	2,581
L3 TECHNOLOGIES INC	COM	502413107	247	1,495	SH		DFND		0	0	1,495
LEVEL 3 COMMUNICATIONS INC	COM NEW	52729N308	316	5,521	SH		DFND		0	0	5,521
LOCKHEED MARTIN CORP	COM	539830109	1,073	4,011	SH		DFND		0	0	4,011
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	647	8,414	SH		DFND		0	0	8,414
MCDONALDS CORP	COM	580135101	324	2,500	SH		DFND		0	0	2,500
MERCK & CO INC	COM	58933Y105	422	6,588	SH		DFND		0	0	6,588
MICROSOFT CORP	COM	594918104	489	7,423	SH		DFND		0	0	7,423
MID AMER APT CMNTYS INC	COM	59522J103	1,905	18,723	SH		DFND		0	0	18,723
MONDELEZ INTL INC	CL A	609207105	452	10,446	SH		DFND		0	0	10,446
MOTOROLA SOLUTIONS INC	COM NEW	620076307	37,075	430,000	SH	Put	DFND		0	0	430,000
NUVEEN HIGH INCOME DECMBR 20	COM	67076E107	718	70,000	SH		DFND		0	0	70,000
NUVEEN HIGH INCOME NOVEMBER	COM	67077N106	360	36,000	SH		DFND		0	0	36,000
NVIDIA CORP	COM	67066G104	294	2,700	SH		DFND		0	0	2,700
NIKE INC	CL B	654106103	257	4,600	SH		DFND		0	0	4,600
NORFOLK SOUTHERN CORP	COM	655844108	1,139	10,175	SH		DFND		0	0	10,175
NORTEL INVERSORA S A	SPON ADR PFD B	656567401	1,560	60,000	SH		SOLE		60,000	0	0
PAMPA ENERGIA S A	SPONS ADR LVL I	697660207	23,577	434,833	SH		SOLE		434,833	0	0
PAMPA ENERGIA S A	SPONS ADR LVL I	697660207	8,272	152,559	SH		DFND		0	0	152,559
PATTERN ENERGY GROUP INC	CL A	70338P100	534	26,000	SH		DFND		0	0	26,000
PEPSICO INC	COM	713448108	411	3,676	SH		DFND		0	0	3,676
PFIZER INC	COM	717081103	245	7,148	SH		DFND		0	0	7,148
PHILIP MORRIS INTL INC	COM	718172109	529	4,646	SH		DFND		0	0	4,646
PHILLIPS 66	COM	718546104	394	4,968	SH		DFND		0	0	4,968
PIONEER NAT RES CO	COM	723787107	317	1,700	SH		DFND		0	0	1,700
POTASH CORP SASK INC	COM	73755L107	265	15,511	SH		DFND		0	0	15,511
POWERSHARES ETF TRUST	INTL DIV ACHV	73935X716	333	22,160	SH		DFND		0	0	22,160
PROCTER AND GAMBLE CO	COM	742718109	1,025	11,406	SH		DFND		0	0	11,406
PROSHARES TR	PSHS LC COR PLUS	74347R248	526	9,000	SH		DFND		0	0	9,000
PROSHARES TR II	ULTRASHORT YEN N	74347W569	493	6,800	SH		SOLE		6,800	0	0
PROSHARES TR II	ULTRASHORT YEN N	74347W569	493	6,800	SH		DFND		0	0	6,800
QUALCOMM INC	COM	747525103	326	5,681	SH		DFND		0	0	5,681
QUANTUM CORP	COM DSSG	747906204	28	32,460	SH		DFND		0	0	32,460
QUINSTREET INC	COM	74874Q100	65	16,725	SH		DFND		0	0	16,725
RAYTHEON CO	COM NEW	755111507	313	2,050	SH		DFND		0	0	2,050
REGIONS FINL CORP NEW	COM	7591EP100	346	23,802	SH		DFND		0	0	23,802
SALIENT MIDSTREAM & MLP FD	SH BEN INT	79471V105	174	13,000	SH		DFND		0	0	13,000
SCHLUMBERGER LTD	COM	806857108	306	3,899	SH		DFND		0	0	3,899
SCHWAB STRATEGIC TR	SHT TM US TRES	808524862	2,773	54,950	SH		DFND		0	0	54,950
SEAGATE TECHNOLOGY PLC	SHS	G7945M107	274	5,875	SH		DFND		0	0	5,875
SHIRE PLC	SPONSORED ADR	82481R106	429	2,453	SH		DFND		0	0	2,453
SOUTHERN CO	COM	842587107	526	10,572	SH		DFND		0	0	10,572
SOUTHWEST AIRLS CO	COM	844741108	202	3,757	SH		DFND		0	0	3,757
STERICYCLE INC	COM	858912108	261	3,150	SH		DFND		0	0	3,150
TE CONNECTIVITY LTD	REG SHS	H84989104	418	5,603	SH		DFND		0	0	5,603
TELECOM ARGENTINA S A	SPON ADR REP B	879273209	32,032	1,443,519	SH		SOLE		1,443,519	0	0
TELECOM ARGENTINA S A	SPON ADR REP B	879273209	48	2,154	SH		DFND		0	0	2,154
TERNIUM SA	SPON ADR	880890108	1,312	50,224	SH		DFND		0	0	50,224
TESLA INC	COM	88160R101	452	1,625	SH		DFND		0	0	1,625
THERMO FISHER SCIENTIFIC INC	COM	883556102	255	1,660	SH		DFND		0	0	1,660
TIFFANY & CO NEW	COM	886547108	266	2,775	SH		DFND		0	0	2,775
TORCHMARK CORP	COM	891027104	7,295	94,513	SH		DFND		0	0	94,513
UNITED STATES NATL GAS FUND	UNIT PAR $0.001	912318201	265	35,000	SH		DFND		0	0	35,000
UNITEDHEALTH GROUP INC	COM	91324P102	1,121	6,837	SH		DFND		0	0	6,837
UNITI GROUP INC	COM	91325V108	217	8,400	SH		DFND		0	0	8,400
VANECK VECTORS ETF TR	AGRIBUSINESS ETF	92189F700	241	4,500	SH		DFND		0	0	4,500
VANGUARD BD INDEX FD INC	TOTAL BND MRKT	921937835	216	2,660	SH		DFND		0	0	2,660
VANGUARD INDEX FDS	MID CAP ETF	922908629	298	2,130	SH		DFND		0	0	2,130
VANGUARD INDEX FDS	REIT ETF	922908553	220	2,662	SH		DFND		0	0	2,662
VANGUARD INTL EQUITY INDEX F	ALLWRLD EX US	922042775	717	15,000	SH		DFND		0	0	15,000
VANGUARD INTL EQUITY INDEX F	TT WRLD ST ETF	922042742	211	3,235	SH		DFND		0	0	3,235
VANGUARD SPECIALIZED PORTFOL	DIV APP ETF	921908844	667	7,381	SH		DFND		0	0	7,381
VANGUARD WORLD FDS	CONSUM DIS ETF	92204A108	263	1,900	SH		DFND		0	0	1,900
VANGUARD WORLD FDS	INF TECH ETF	92204A702	457	3,370	SH		DFND		0	0	3,370
VERIZON COMMUNICATIONS INC	COM	92343V104	638	13,088	SH		DFND		0	0	13,088
VISA INC	COM CL A	92826C839	373	4,200	SH		DFND		0	0	4,200
VULCAN MATLS CO	COM	929160109	566	4,700	SH		DFND		0	0	4,700
WALGREENS BOOTS ALLIANCE INC	COM	931427108	548	6,600	SH		DFND		0	0	6,600
WASTE MGMT INC DEL	COM	94106L109	510	7,000	SH		DFND		0	0	7,000
WATERS CORP	COM	941848103	211	1,350	SH		DFND		0	0	1,350
WEATHERFORD INTL PLC	ORD SHS	G48833100	259	38,918	SH		DFND		0	0	38,918
WESTERN DIGITAL CORP	COM	958102105	230	2,769	SH		DFND		0	0	2,769
WEYERHAEUSER CO	COM	962166104	222	6,538	SH		DFND		0	0	6,538
WISDOMTREE TR	INDIA ERNGS FD	97717W422	555	23,000	SH		SOLE		23,000	0	0
WISDOMTREE TR	JAPN HEDGE EQT	97717W851	456	9,000	SH		SOLE		9,000	0	0
WISDOMTREE TR	JAPN HEDGE EQT	97717W851	5,757	113,733	SH		DFND		0	0	113,733
WISDOMTREE TR	INDIA ERNGS FD	97717W422	555	23,000	SH		DFND		0	0	23,000
YPF SOCIEDAD ANONIMA	SPON ADR CL D	984245100	19,424	800,000	SH	Call	SOLE		800,000	0	0
YPF SOCIEDAD ANONIMA	SPON ADR CL D	984245100	22,445	924,411	SH		SOLE		924,411	0	0
YPF SOCIEDAD ANONIMA	SPON ADR CL D	984245100	7,547	310,814	SH		DFND		0	0	310,814