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	482	2,315	SH		DFND		0	0	2,315
ABBOTT LABS	COM	002824100	240	4,940	SH		DFND		0	0	4,940
ABBVIE INC	COM	00287Y109	854	11,779	SH		DFND		0	0	11,779
ACUITY BRANDS INC	COM	00508Y102	203	1,000	SH		DFND		0	0	1,000
ADECOAGRO S A	COM	L00849106	41,056	4,109,752	SH		SOLE		4,109,752	0	0
ADECOAGRO S A	COM	L00849106	17,982	1,800,000	SH	Call	SOLE		1,800,000	0	0
ADECOAGRO S A	COM	L00849106	7,203	720,986	SH		DFND		0	0	720,986
ADOBE SYS INC	COM	00724F101	287	2,032	SH		DFND		0	0	2,032
AFLAC INC	COM	001055102	823	10,589	SH		DFND		0	0	10,589
ALBEMARLE CORP	COM	012653101	715	6,750	SH		DFND		0	0	6,750
ALEXION PHARMACEUTICALS INC	COM	015351109	418	3,433	SH		DFND		0	0	3,433
ALLERGAN PLC	SHS	G0177J108	409	1,683	SH		DFND		0	0	1,683
ALPHABET INC	CAP STK CL C	02079K107	949	1,044	SH		DFND		0	0	1,044
ALTRIA GROUP INC	COM	02209S103	776	10,335	SH		DFND		0	0	10,335
AMERICAN ELEC PWR INC	COM	025537101	262	3,770	SH		DFND		0	0	3,770
AMGEN INC	COM	031162100	385	2,237	SH		DFND		0	0	2,237
ANADARKO PETE CORP	COM	032511107	265	5,840	SH		DFND		0	0	5,840
ANHEUSER BUSCH INBEV SA/NV	SPONSORED ADR	03524A108	228	2,062	SH		DFND		0	0	2,062
APPLE INC	COM	037833100	4,068	28,243	SH		DFND		0	0	28,243
AZUL S A	SPONSR ADR PFD	05501U106	1,436	68,110	SH		SOLE		68,110	0	0
AZUL S A	SPONSR ADR PFD	05501U106	811	38,479	SH		DFND		0	0	38,479
BANCO MACRO SA	SPON ADR B	05961W105	12,025	130,442	SH		SOLE		130,442	0	0
BANCO MACRO SA	SPON ADR B	05961W105	2,445	26,520	SH		DFND		0	0	26,520
BAXTER INTL INC	COM	071813109	276	4,552	SH		DFND		0	0	4,552
BBVA BANCO FRANCES S A	SPONSORED ADR	07329M100	3,949	208,605	SH		SOLE		208,605	0	0
BBVA BANCO FRANCES S A	SPONSORED ADR	07329M100	189	10,000	SH		DFND		0	0	10,000
BECTON DICKINSON & CO	COM	075887109	639	3,274	SH		DFND		0	0	3,274
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	1,862	10,995	SH		DFND		0	0	10,995
BIOGEN INC	COM	09062X103	239	880	SH		DFND		0	0	880
BLACKROCK 2022 GBL INCM OPP	COM	09258P104	251	25,000	SH		DFND		0	0	25,000
BROADCOM LTD	SHS	Y09827109	385	1,651	SH		DFND		0	0	1,651
BROOKFIELD ASSET MGMT INC	CL A LTD VT SH	112585104	608	15,500	SH		DFND		0	0	15,500
CANADIAN PAC RY LTD	COM	13645T100	289	1,800	SH		DFND		0	0	1,800
CARDINAL HEALTH INC	COM	14149Y108	314	4,000	SH		DFND		0	0	4,000
CATERPILLAR INC DEL	COM	149123101	344	3,200	SH		DFND		0	0	3,200
CBL & ASSOC PPTYS INC	COM	124830100	348	40,000	SH		DFND		0	0	40,000
CHESAPEAKE ENERGY CORP	COM	165167107	746	150,000	SH		DFND		0	0	150,000
CHEVRON CORP NEW	COM	166764100	963	9,231	SH		DFND		0	0	9,231
CHIPOTLE MEXICAN GRILL INC	COM	169656105	294	706	SH		DFND		0	0	706
CINCINNATI FINL CORP	COM	172062101	379	5,200	SH		DFND		0	0	5,200
CISCO SYS INC	COM	17275R102	419	13,374	SH		DFND		0	0	13,374
CME GROUP INC	COM	12572Q105	275	2,199	SH		DFND		0	0	2,199
COCA COLA CO	COM	191216100	721	15,952	SH		DFND		0	0	15,952
COMCAST CORP NEW	CL A	20030N101	626	16,010	SH		DFND		0	0	16,010
COMPANHIA PARANAENSE ENERG C	SPON ADR PFD	20441B407	2,375	323,551	SH		SOLE		323,551	0	0
COMPANHIA BRASILEIRA DE DIST	SPN ADR PFD CL A	20440T201	282	14,407	SH		DFND		0	0	14,407
COMPANHIA ENERGETICA DE MINA	SP ADR N-V PFD	204409601	47	12,970	SH		DFND		0	0	12,970
COMPANHIA BRASILEIRA DE DIST	SPN ADR PFD CL A	20440T201	1,228	62,800	SH		SOLE		62,800	0	0
COMPANHIA PARANAENSE ENERG C	SPON ADR PFD	20441B407	1,357	182,733	SH		DFND		0	0	182,733
COUPA SOFTWARE INC	COM	22266L106	319	11,000	SH		DFND		0	0	11,000
CRESUD S A C I F Y A	SPONSORED ADR	226406106	9,377	482,128	SH		SOLE		482,128	0	0
CRESUD S A C I F Y A	SPONSORED ADR	226406106	433	22,250	SH		DFND		0	0	22,250
DANAHER CORP DEL	COM	235851102	211	2,500	SH		DFND		0	0	2,500
DEERE & CO	COM	244199105	347	2,795	SH		DFND		0	0	2,795
DICKS SPORTING GOODS INC	COM	253393102	398	10,000	SH		DFND		0	0	10,000
DISNEY WALT CO	COM DISNEY	254687106	1,152	10,845	SH		DFND		0	0	10,845
DOW CHEM CO	COM	260543103	275	4,324	SH		DFND		0	0	4,324
ECO STIM ENERGY SOLUTIONS IN	COM	27888D101	3,724	2,979,534	SH		SOLE		2,979,534	0	0
EMERSON ELEC CO	COM	291011104	414	6,950	SH		DFND		0	0	6,950
EMPRESA DIST Y COMERCIAL NOR	SPON ADR	29244A102	2,377	74,514	SH		SOLE		74,514	0	0
ENBRIDGE INC	COM	29250N105	205	5,152	SH		DFND		0	0	5,152
ENTERPRISE PRODS PARTNERS L	COM	293792107	485	17,924	SH		DFND		0	0	17,924
EQUINIX INC	COM PAR $0.001	29444U700	213	496	SH		DFND		0	0	496
EXTREME NETWORKS INC	COM	30226D106	92	10,000	SH		DFND		0	0	10,000
EXXON MOBIL CORP	COM	30231G102	265	3,285	SH		DFND		0	0	3,285
FACEBOOK INC	CL A	30303M102	437	2,894	SH		DFND		0	0	2,894
FEDEX CORP	COM	31428X106	414	1,900	SH		DFND		0	0	1,900
FIBRIA CELULOSE S A	SP ADR REP COM	31573A109	203	20,000	SH		DFND		0	0	20,000
FIREEYE INC	COM	31816Q101	228	15,000	SH		DFND		0	0	15,000
FREEPORT-MCMORAN INC	CL B	35671D857	1,278	106,412	SH		DFND		0	0	106,412
GENERAL ELECTRIC CO	COM	369604103	224	8,200	SH		DFND		0	0	8,200
GENERAL MLS INC	COM	370334104	240	4,330	SH		DFND		0	0	4,330
GILEAD SCIENCES INC	COM	375558103	702	9,925	SH		DFND		0	0	9,925
GLAXOSMITHKLINE PLC	SPONSORED ADR	37733W105	387	8,871	SH		DFND		0	0	8,871
GLOBAL X FDS	MSCI GREECE ETF	37950E366	754	74,600	SH		SOLE		74,600	0	0
GLOBAL X FDS	MSCI GREECE ETF	37950E366	14,946	1,478,302	SH		DFND		0	0	1,478,302
GLOBALSTAR INC	COM	378973408	85	40,047	SH		DFND		0	0	40,047
GRANITE PT MTG TR INC	COM	38741L107	191	10,100	SH		DFND		0	0	10,100
GRUPO FINANCIERO GALICIA S A	SP ADR 10 SH B	399909100	3,903	91,529	SH		SOLE		91,529	0	0
GRUPO FINANCIERO GALICIA S A	SP ADR 10 SH B	399909100	742	17,409	SH		DFND		0	0	17,409
GRUPO SUPERVIELLE S A	SPONSORED ADR	40054A108	9,871	545,987	SH		SOLE		545,987	0	0
GRUPO SUPERVIELLE S A	SPONSORED ADR	40054A108	5,124	283,398	SH		DFND		0	0	283,398
HALLIBURTON CO	COM	406216101	205	4,800	SH		DFND		0	0	4,800
HANNON ARMSTRONG SUST INFR C	COM	41068X100	267	11,683	SH		DFND		0	0	11,683
HASBRO INC	COM	418056107	330	2,962	SH		DFND		0	0	2,962
HCP INC	COM	40414L109	527	16,500	SH		DFND		0	0	16,500
HERSHEY CO	COM	427866108	366	3,408	SH		DFND		0	0	3,408
HOME DEPOT INC	COM	437076102	1,148	7,483	SH		DFND		0	0	7,483
HONEYWELL INTL INC	COM	438516106	417	3,132	SH		DFND		0	0	3,132
IDACORP INC	COM	451107106	205	2,400	SH		DFND		0	0	2,400
ILLINOIS TOOL WKS INC	COM	452308109	637	4,429	SH		DFND		0	0	4,429
INGERSOLL-RAND PLC	SHS	G47791101	461	5,047	SH		DFND		0	0	5,047
INTEL CORP	COM	458140100	577	17,100	SH		DFND		0	0	17,100
INTERCONTINENTAL EXCHANGE IN	COM	45866F104	264	4,000	SH		DFND		0	0	4,000
INTREPID POTASH INC	COM	46121Y102	5,561	2,460,728	SH		DFND		0	0	2,460,728
INVESCO HIGH INCOME 2023 TAR	COM	46135X108	202	20,000	SH		DFND		0	0	20,000
IRSA INVERSIONES Y REP S A	GLOBL DEP RCPT	450047204	5,976	247,749	SH		SOLE		247,749	0	0
IRSA INVERSIONES Y REP S A	GLOBL DEP RCPT	450047204	379	15,720	SH		DFND		0	0	15,720
ISHARES INC	CORE MSCI EMKT	46434G103	2,997	59,892	SH		DFND		0	0	59,892
ISHARES TR	CORE MSCI EAFE	46432F842	3,628	59,580	SH		DFND		0	0	59,580
ISHARES TR	MSCI ACWI ETF	464288257	219	3,350	SH		DFND		0	0	3,350
ISHARES TR	EAFE SML CP ETF	464288273	1,151	19,895	SH		DFND		0	0	19,895
ISHARES TR	RUS 1000 VAL ETF	464287598	3,947	33,897	SH		DFND		0	0	33,897
ISHARES TR	RUS 2000 VAL ETF	464287630	581	4,890	SH		DFND		0	0	4,890
JOHNSON & JOHNSON	COM	478160104	934	7,060	SH		DFND		0	0	7,060
JOHNSON CTLS INTL PLC	SHS	G51502105	361	8,327	SH		DFND		0	0	8,327
JPMORGAN CHASE & CO	ALERIAN ML ETN	46625H365	278	9,345	SH		DFND		0	0	9,345
JPMORGAN CHASE & CO	COM	46625H100	677	7,411	SH		DFND		0	0	7,411
KKR & CO L P DEL	COM UNITS	48248M102	242	13,000	SH		DFND		0	0	13,000
KRAFT HEINZ CO	COM	500754106	221	2,548	SH		DFND		0	0	2,548
KROGER CO	COM	501044101	408	17,500	SH		DFND		0	0	17,500
L3 TECHNOLOGIES INC	COM	502413107	250	1,495	SH		DFND		0	0	1,495
LOCKHEED MARTIN CORP	COM	539830109	1,115	4,016	SH		DFND		0	0	4,016
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	600	8,414	SH		DFND		0	0	8,414
MCDONALDS CORP	COM	580135101	383	2,500	SH		DFND		0	0	2,500
MERCK & CO INC	COM	58933Y105	619	9,588	SH		DFND		0	0	9,588
MICROSOFT CORP	COM	594918104	544	7,892	SH		DFND		0	0	7,892
MID AMER APT CMNTYS INC	COM	59522J103	2,466	23,403	SH		DFND		0	0	23,403
MONDELEZ INTL INC	CL A	609207105	345	7,946	SH		DFND		0	0	7,946
MOTOROLA SOLUTIONS INC	COM NEW	620076307	37,298	430,000	SH	Put	DFND		0	0	430,000
MUELLER WTR PRODS INC	COM SER A	624758108	264	22,605	SH		DFND		0	0	22,605
MULESOFT INC	CL A	625207105	299	12,000	SH		DFND		0	0	12,000
NIKE INC	CL B	654106103	272	4,600	SH		DFND		0	0	4,600
NORFOLK SOUTHERN CORP	COM	655844108	1,238	10,175	SH		DFND		0	0	10,175
NORTEL INVERSORA S A	SPON ADR PFD B	656567401	2,539	81,294	SH		SOLE		81,294	0	0
NUCOR CORP	COM	670346105	374	6,427	SH		DFND		0	0	6,427
NUVEEN HIGH INCOME DECMBR 20	COM	67076E107	719	70,000	SH		DFND		0	0	70,000
NUVEEN HIGH INCOME NOVEMBER	COM	67077N106	366	36,000	SH		DFND		0	0	36,000
NVIDIA CORP	COM	67066G104	53	370	SH		SOLE		370	0	0
NVIDIA CORP	COM	67066G104	444	3,070	SH		DFND		0	0	3,070
PAMPA ENERGIA S A	SPONS ADR LVL I	697660207	6,293	106,929	SH		SOLE		106,929	0	0
PAMPA ENERGIA S A	SPONS ADR LVL I	697660207	9,422	160,099	SH		DFND		0	0	160,099
PATTERN ENERGY GROUP INC	CL A	70338P100	582	24,000	SH		DFND		0	0	24,000
PEPSICO INC	COM	713448108	425	3,676	SH		DFND		0	0	3,676
PFIZER INC	COM	717081103	240	7,148	SH		DFND		0	0	7,148
PHILIP MORRIS INTL INC	COM	718172109	547	4,615	SH		DFND		0	0	4,615
PIONEER NAT RES CO	COM	723787107	355	2,222	SH		DFND		0	0	2,222
POWERSHARES ETF TRUST	INTL DIV ACHV	73935X716	341	22,160	SH		DFND		0	0	22,160
PROCTER AND GAMBLE CO	COM	742718109	994	11,406	SH		DFND		0	0	11,406
PROSHARES TR	PSHS LC COR PLUS	74347R248	541	9,000	SH		DFND		0	0	9,000
PROSHARES TR II	ULTRASHORT YEN N	74347W569	504	6,800	SH		SOLE		6,800	0	0
PROSHARES TR II	ULTRASHORT YEN N	74347W569	504	6,800	SH		DFND		0	0	6,800
QUALCOMM INC	COM	747525103	314	5,681	SH		DFND		0	0	5,681
QUEST DIAGNOSTICS INC	COM	74834L100	222	2,000	SH		DFND		0	0	2,000
QUINSTREET INC	COM	74874Q100	70	16,725	SH		DFND		0	0	16,725
RAYTHEON CO	COM NEW	755111507	333	2,050	SH		DFND		0	0	2,050
REGIONS FINL CORP NEW	COM	7591EP100	508	34,666	SH		DFND		0	0	34,666
SALIENT MIDSTREAM & MLP FD	SH BEN INT	79471V105	152	13,000	SH		DFND		0	0	13,000
SCHLUMBERGER LTD	COM	806857108	266	4,004	SH		DFND		0	0	4,004
SEAGATE TECHNOLOGY PLC	SHS	G7945M107	231	5,875	SH		DFND		0	0	5,875
SHIRE PLC	SPONSORED ADR	82481R106	406	2,457	SH		DFND		0	0	2,457
SOUTHERN CO	COM	842587107	507	10,584	SH		DFND		0	0	10,584
SOUTHWEST AIRLS CO	COM	844741108	231	3,717	SH		DFND		0	0	3,717
STERICYCLE INC	COM	858912108	240	3,150	SH		DFND		0	0	3,150
TE CONNECTIVITY LTD	REG SHS	H84989104	441	5,603	SH		DFND		0	0	5,603
TELECOM ARGENTINA S A	SPON ADR REP B	879273209	14,205	560,568	SH		SOLE		560,568	0	0
TELECOM ARGENTINA S A	SPON ADR REP B	879273209	752	29,679	SH		DFND		0	0	29,679
TERNIUM SA	SPON ADR	880890108	2,062	73,400	SH		SOLE		73,400	0	0
TERNIUM SA	SPON ADR	880890108	1,667	59,346	SH		DFND		0	0	59,346
TESLA INC	COM	88160R101	588	1,625	SH		DFND		0	0	1,625
THERMO FISHER SCIENTIFIC INC	COM	883556102	295	1,687	SH		DFND		0	0	1,687
TIFFANY & CO NEW	COM	886547108	262	2,775	SH		DFND		0	0	2,775
TORCHMARK CORP	COM	891027104	7,004	91,374	SH		DFND		0	0	91,374
TPI COMPOSITES INC	COM	87266J104	409	22,122	SH		DFND		0	0	22,122
UNITED STATES NATL GAS FUND	UNIT PAR $0.001	912318201	237	35,000	SH		DFND		0	0	35,000
UNITEDHEALTH GROUP INC	COM	91324P102	1,254	6,762	SH		DFND		0	0	6,762
UNITI GROUP INC	COM	91325V108	216	8,400	SH		DFND		0	0	8,400
V F CORP	COM	918204108	434	7,540	SH		DFND		0	0	7,540
VANECK VECTORS ETF TR	AGRIBUSINESS ETF	92189F700	248	4,500	SH		DFND		0	0	4,500
VANGUARD BD INDEX FD INC	TOTAL BND MRKT	921937835	226	2,760	SH		DFND		0	0	2,760
VANGUARD INDEX FDS	MID CAP ETF	922908629	304	2,130	SH		DFND		0	0	2,130
VANGUARD INTL EQUITY INDEX F	ALLWRLD EX US	922042775	750	15,000	SH		DFND		0	0	15,000
VANGUARD INTL EQUITY INDEX F	TT WRLD ST ETF	922042742	220	3,235	SH		DFND		0	0	3,235
VANGUARD SPECIALIZED PORTFOL	DIV APP ETF	921908844	685	7,386	SH		DFND		0	0	7,386
VANGUARD WORLD FDS	CONSUM DIS ETF	92204A108	271	1,900	SH		DFND		0	0	1,900
VANGUARD WORLD FDS	INF TECH ETF	92204A702	476	3,370	SH		DFND		0	0	3,370
VERIZON COMMUNICATIONS INC	COM	92343V104	585	13,088	SH		DFND		0	0	13,088
VISA INC	COM CL A	92826C839	401	4,273	SH		DFND		0	0	4,273
VULCAN MATLS CO	COM	929160109	621	4,900	SH		DFND		0	0	4,900
WALGREENS BOOTS ALLIANCE INC	COM	931427108	517	6,600	SH		DFND		0	0	6,600
WASTE MGMT INC DEL	COM	94106L109	513	7,000	SH		DFND		0	0	7,000
WATERS CORP	COM	941848103	248	1,350	SH		DFND		0	0	1,350
WEATHERFORD INTL PLC	ORD SHS	G48833100	151	38,918	SH		DFND		0	0	38,918
WESTERN DIGITAL CORP	COM	958102105	244	2,744	SH		DFND		0	0	2,744
WEYERHAEUSER CO	COM	962166104	219	6,538	SH		DFND		0	0	6,538
WISDOMTREE TR	JAPN HEDGE EQT	97717W851	468	9,000	SH		SOLE		9,000	0	0
WISDOMTREE TR	JAPN HEDGE EQT	97717W851	7,239	139,214	SH		DFND		0	0	139,214
YPF SOCIEDAD ANONIMA	SPON ADR CL D	984245100	14,821	676,761	SH		SOLE		676,761	0	0
YPF SOCIEDAD ANONIMA	SPON ADR CL D	984245100	8,865	404,800	SH	Call	SOLE		404,800	0	0
YPF SOCIEDAD ANONIMA	SPON ADR CL D	984245100	7,723	352,642	SH		DFND		0	0	352,642