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	510	2,431	SH		DFND		0	0	2,431
ABBOTT LABS	COM	002824100	280	5,250	SH		DFND		0	0	5,250
ABBVIE INC	COM	00287Y109	1,112	12,516	SH		DFND		0	0	12,516
ADECOAGRO S A	COM	L00849106	39,327	3,641,379	SH		SOLE		3,641,379	0	0
ADECOAGRO S A	COM	L00849106	15,120	1,400,000	SH	Call	SOLE		1,400,000	0	0
ADECOAGRO S A	COM	L00849106	7,034	651,293	SH		DFND		0	0	651,293
ADOBE SYS INC	COM	00724F101	362	2,429	SH		DFND		0	0	2,429
AFLAC INC	COM	001055102	680	8,352	SH		DFND		0	0	8,352
ALBEMARLE CORP	COM	012653101	922	6,750	SH		DFND		0	0	6,750
ALEXION PHARMACEUTICALS INC	COM	015351109	482	3,434	SH		DFND		0	0	3,434
ALLERGAN PLC	SHS	G0177J108	350	1,697	SH		DFND		0	0	1,697
ALPHABET INC	CAP STK CL C	02079K107	1,058	1,103	SH		DFND		0	0	1,103
ALTRIA GROUP INC	COM	02209S103	558	8,715	SH		DFND		0	0	8,715
AMERICAN ELEC PWR INC	COM	025537101	265	3,770	SH		DFND		0	0	3,770
AMGEN INC	COM	031162100	370	1,986	SH		DFND		0	0	1,986
ANADARKO PETE CORP	COM	032511107	297	6,087	SH		DFND		0	0	6,087
ANHEUSER BUSCH INBEV SA/NV	SPONSORED ADR	03524A108	244	2,044	SH		DFND		0	0	2,044
APPLE INC	COM	037833100	3,951	25,633	SH		DFND		0	0	25,633
AT&T INC	COM	00206R102	676	17,269	SH		DFND		0	0	17,269
AZUL S A	SPONSR ADR PFD	05501U106	3,641	132,632	SH		SOLE		132,632	0	0
AZUL S A	SPONSR ADR PFD	05501U106	3,442	125,399	SH		DFND		0	0	125,399
BANCO MACRO SA	SPON ADR B	05961W105	15,690	133,700	SH		SOLE		133,700	0	0
BANCO MACRO SA	SPON ADR B	05961W105	2,297	19,572	SH		DFND		0	0	19,572
BAXTER INTL INC	COM	071813109	318	5,049	SH		DFND		0	0	5,049
BBVA BANCO FRANCES S A	SPONSORED ADR	07329M100	15,468	758,605	SH		DFND		0	0	758,605
BBVA BANCO FRANCES S A	SPONSORED ADR	07329M100	1,223	60,000	SH		SOLE		60,000	0	0
BECTON DICKINSON & CO	COM	075887109	220	1,121	SH		DFND		0	0	1,121
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	2,016	10,995	SH		DFND		0	0	10,995
BIOGEN INC	COM	09062X103	276	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	426	1,756	SH		DFND		0	0	1,756
BROOKFIELD ASSET MGMT INC	CL A LTD VT SH	112585104	640	15,500	SH		DFND		0	0	15,500
CANADIAN PAC RY LTD	COM	13645T100	303	1,800	SH		DFND		0	0	1,800
CATERPILLAR INC DEL	COM	149123101	399	3,200	SH		DFND		0	0	3,200
CBL & ASSOC PPTYS INC	COM	124830100	346	40,000	SH		DFND		0	0	40,000
CENTENE CORP DEL	COM	15135B101	232	2,400	SH		DFND		0	0	2,400
CENTRAIS ELETRICAS BRASILEIR	SPONSORED ADR	15234Q207	552	89,106	SH		SOLE		89,106	0	0
CHESAPEAKE ENERGY CORP	COM	165167107	645	150,000	SH		DFND		0	0	150,000
CHEVRON CORP NEW	COM	166764100	605	5,148	SH		DFND		0	0	5,148
CHINA MOBILE LIMITED	SPONSORED ADR	16941M109	581	11,418	SH		DFND		0	0	11,418
CHIPOTLE MEXICAN GRILL INC	COM	169656105	433	1,408	SH		DFND		0	0	1,408
CINCINNATI FINL CORP	COM	172062101	405	5,250	SH		DFND		0	0	5,250
CISCO SYS INC	COM	17275R102	289	8,590	SH		DFND		0	0	8,590
CME GROUP INC	COM CL A	12572Q105	303	2,230	SH		DFND		0	0	2,230
COCA COLA CO	COM	191216100	741	16,327	SH		DFND		0	0	16,327
COMCAST CORP NEW	CL A	20030N101	616	16,019	SH		DFND		0	0	16,019
COMPANHIA BRASILEIRA DE DIST	SPN ADR PFD CL A	20440T201	2,262	95,569	SH		DFND		0	0	95,569
COMPANHIA BRASILEIRA DE DIST	SPN ADR PFD CL A	20440T201	1,037	43,800	SH		SOLE		43,800	0	0
COMPANHIA ENERGETICA DE MINA	SP ADR N-V PFD	204409601	32	12,970	SH		DFND		0	0	12,970
COMPANHIA PARANAENSE ENERG C	SPON ADR PFD	20441B407	3,460	390,544	SH		SOLE		390,544	0	0
COMPANHIA PARANAENSE ENERG C	SPON ADR PFD	20441B407	3,086	348,327	SH		DFND		0	0	348,327
COUPA SOFTWARE INC	COM	22266L106	343	11,000	SH		DFND		0	0	11,000
CRESUD S A C I F Y A	SPONSORED ADR	226406106	9,001	482,128	SH		SOLE		482,128	0	0
CRESUD S A C I F Y A	SPONSORED ADR	226406106	415	22,250	SH		DFND		0	0	22,250
DANAHER CORP DEL	COM	235851102	241	2,804	SH		DFND		0	0	2,804
DESPEGAR COM CORP	ORD SHS	G27358103	4,072	127,260	SH		SOLE		127,260	0	0
DESPEGAR COM CORP	ORD SHS	G27358103	579	18,107	SH		DFND		0	0	18,107
DISNEY WALT CO	COM DISNEY	254687106	1,069	10,845	SH		DFND		0	0	10,845
DOWDUPONT INC	COM	26078J100	337	4,861	SH		DFND		0	0	4,861
ECO STIM ENERGY SOLUTIONS IN	COM	27888D101	9,105	5,912,611	SH		SOLE		5,912,611	0	0
ECO STIM ENERGY SOLUTIONS IN	COM	27888D101	409	265,650	SH		DFND		0	0	265,650
EMERSON ELEC CO	COM	291011104	437	6,950	SH		DFND		0	0	6,950
ENBRIDGE INC	COM	29250N105	241	5,769	SH		DFND		0	0	5,769
ENTERPRISE PRODS PARTNERS L	COM	293792107	467	17,924	SH		DFND		0	0	17,924
EQUINIX INC	COM PAR $0.001	29444U700	221	496	SH		DFND		0	0	496
EXTREME NETWORKS INC	COM	30226D106	119	10,000	SH		DFND		0	0	10,000
EXXON MOBIL CORP	COM	30231G102	292	3,562	SH		DFND		0	0	3,562
FACEBOOK INC	CL A	30303M102	500	2,929	SH		DFND		0	0	2,929
FEDEX CORP	COM	31428X106	226	1,000	SH		DFND		0	0	1,000
FIREEYE INC	COM	31816Q101	252	15,000	SH		DFND		0	0	15,000
FREEPORT-MCMORAN INC	CL B	35671D857	159	11,337	SH		DFND		0	0	11,337
GENERAL ELECTRIC CO	COM	369604103	200	8,200	SH		DFND		0	0	8,200
GENERAL MLS INC	COM	370334104	224	4,330	SH		DFND		0	0	4,330
GERDAU S A	SPON ADR REP PFD	373737105	1,544	450,000	SH		SOLE		450,000	0	0
GILEAD SCIENCES INC	COM	375558103	634	7,831	SH		DFND		0	0	7,831
GLAXOSMITHKLINE PLC	SPONSORED ADR	37733W105	368	8,964	SH		DFND		0	0	8,964
GLOBAL X FDS	MSCI GREECE ETF	37950E366	18,444	1,949,748	SH		DFND		0	0	1,949,748
GLOBALSTAR INC	COM	378973408	65	40,047	SH		DFND		0	0	40,047
GRANITE PT MTG TR INC	COM	38741L107	192	10,100	SH		DFND		0	0	10,100
GRUPO FINANCIERO GALICIA S A	SP ADR 10 SH B	399909100	2,063	40,029	SH		SOLE		40,029	0	0
GRUPO FINANCIERO GALICIA S A	SP ADR 10 SH B	399909100	717	13,909	SH		DFND		0	0	13,909
GRUPO SUPERVIELLE S A	SPONSORED ADR	40054A108	13,995	566,814	SH		SOLE		566,814	0	0
GRUPO SUPERVIELLE S A	SPONSORED ADR	40054A108	6,252	253,230	SH		DFND		0	0	253,230
HALLIBURTON CO	COM	406216101	239	5,194	SH		DFND		0	0	5,194
HANNON ARMSTRONG SUST INFR C	COM	41068X100	285	11,683	SH		DFND		0	0	11,683
HASBRO INC	COM	418056107	314	3,214	SH		DFND		0	0	3,214
HCP INC	COM	40414L109	459	16,500	SH		DFND		0	0	16,500
HERSHEY CO	COM	427866108	386	3,532	SH		DFND		0	0	3,532
HOME DEPOT INC	COM	437076102	850	5,197	SH		DFND		0	0	5,197
HONEYWELL INTL INC	COM	438516106	491	3,465	SH		DFND		0	0	3,465
IDACORP INC	COM	451107106	211	2,400	SH		DFND		0	0	2,400
ILLINOIS TOOL WKS INC	COM	452308109	677	4,552	SH		DFND		0	0	4,552
INGERSOLL-RAND PLC	SHS	G47791101	450	5,047	SH		DFND		0	0	5,047
INTEL CORP	COM	458140100	651	17,100	SH		DFND		0	0	17,100
INTERCONTINENTAL EXCHANGE IN	COM	45866F104	310	4,516	SH		DFND		0	0	4,516
INTERNATIONAL BUSINESS MACHS	COM	459200101	526	3,627	SH		DFND		0	0	3,627
INTREPID POTASH INC	COM	46121Y102	10,729	2,460,728	SH		DFND		0	0	2,460,728
INVESCO HIGH INCOME 2023 TAR	COM	46135X108	103	10,180	SH		DFND		0	0	10,180
IRSA INVERSIONES Y REP S A	GLOBL DEP RCPT	450047204	6,082	247,749	SH		SOLE		247,749	0	0
IRSA INVERSIONES Y REP S A	GLOBL DEP RCPT	450047204	386	15,720	SH		DFND		0	0	15,720
ISHARES INC	MSCI BRZ CAP ETF	464286400	89,925	2,507,000	SH	Put	SOLE		2,507,000	0	0
ISHARES INC	MSCI BRZ CAP ETF	464286400	14,592	350,000	SH	Call	SOLE		350,000	0	0
ISHARES INC	CORE MSCI EMKT	46434G103	3,026	56,012	SH		DFND		0	0	56,012
ISHARES INC	MSCI BRZ CAP ETF	464286400	84	2,012	SH		DFND		0	0	2,012
ISHARES TR	CORE MSCI EAFE	46432F842	3,823	59,580	SH		DFND		0	0	59,580
ISHARES TR	IBONDS DEC21 ETF	46435G789	207	8,000	SH		DFND		0	0	8,000
ISHARES TR	MSCI ACWI ETF	464288257	231	3,350	SH		DFND		0	0	3,350
ISHARES TR	RUS 1000 VAL ETF	464287598	393	3,315	SH		DFND		0	0	3,315
JOHNSON & JOHNSON	COM	478160104	921	7,086	SH		DFND		0	0	7,086
JOHNSON CTLS INTL PLC	SHS	G51502105	311	7,714	SH		DFND		0	0	7,714
JPMORGAN CHASE & CO	COM	46625H100	771	8,077	SH		DFND		0	0	8,077
KKR & CO L P DEL	COM UNITS	48248M102	264	13,000	SH		DFND		0	0	13,000
KRAFT HEINZ CO	COM	500754106	201	2,581	SH		DFND		0	0	2,581
L3 TECHNOLOGIES INC	COM	502413107	280	1,484	SH		DFND		0	0	1,484
LOCKHEED MARTIN CORP	COM	539830109	1,281	4,128	SH		DFND		0	0	4,128
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	598	8,414	SH		DFND		0	0	8,414
MCDONALDS CORP	COM	580135101	396	2,526	SH		DFND		0	0	2,526
MERCADOLIBRE INC	COM	58733R102	2,589	10,000	SH	Put	SOLE		10,000	0	0
MERCK & CO INC	COM	58933Y105	447	6,945	SH		DFND		0	0	6,945
MICROSOFT CORP	COM	594918104	721	9,676	SH		DFND		0	0	9,676
MID AMER APT CMNTYS INC	COM	59522J103	2,001	18,723	SH		DFND		0	0	18,723
MONDELEZ INTL INC	CL A	609207105	343	8,383	SH		DFND		0	0	8,383
MOTOROLA SOLUTIONS INC	COM NEW	620076307	36,494	430,000	SH	Put	DFND		0	0	430,000
MOTOROLA SOLUTIONS INC	COM NEW	620076307	1	13	SH		DFND		0	0	13
MUELLER WTR PRODS INC	COM SER A	624758108	289	22,605	SH		DFND		0	0	22,605
MULESOFT INC	CL A	625207105	242	12,000	SH		DFND		0	0	12,000
NIKE INC	CL B	654106103	239	4,600	SH		DFND		0	0	4,600
NORFOLK SOUTHERN CORP	COM	655844108	1,346	10,175	SH		DFND		0	0	10,175
NORTEL INVERSORA S A	SPON ADR PFD B	656567401	2,480	63,600	SH		SOLE		63,600	0	0
NUCOR CORP	COM	670346105	363	6,427	SH		DFND		0	0	6,427
NUVEEN CONNECTICUT QLTY MUN	COM	67060D107	147	12,000	SH		DFND		0	0	12,000
NUVEEN HIGH INCOME DECMBR 20	COM	67076E107	711	70,000	SH		DFND		0	0	70,000
NUVEEN HIGH INCOME NOVEMBER	COM	67077N106	364	36,000	SH		DFND		0	0	36,000
NVIDIA CORP	COM	67066G104	483	2,700	SH		DFND		0	0	2,700
PAMPA ENERGIA S A	SPONS ADR LVL I	697660207	14,400	221,202	SH		SOLE		221,202	0	0
PAMPA ENERGIA S A	SPONS ADR LVL I	697660207	10,950	168,207	SH		DFND		0	0	168,207
PATTERN ENERGY GROUP INC	CL A	70338P100	583	24,000	SH		DFND		0	0	24,000
PEPSICO INC	COM	713448108	477	4,282	SH		DFND		0	0	4,282
PFIZER INC	COM	717081103	285	7,991	SH		DFND		0	0	7,991
PHILIP MORRIS INTL INC	COM	718172109	540	4,816	SH		DFND		0	0	4,816
PIONEER NAT RES CO	COM	723787107	347	2,348	SH		DFND		0	0	2,348
POWERSHARES ETF TRUST	INTL DIV ACHV	73935X716	358	22,160	SH		DFND		0	0	22,160
PROCTER AND GAMBLE CO	COM	742718109	923	10,140	SH		DFND		0	0	10,140
PROSHARES TR	PSHS LC COR PLUS	74347R248	565	9,000	SH		DFND		0	0	9,000
QUINSTREET INC	COM	74874Q100	123	16,725	SH		DFND		0	0	16,725
RAYTHEON CO	COM NEW	755111507	412	2,207	SH		DFND		0	0	2,207
REGIONS FINL CORP NEW	COM	7591EP100	363	23,802	SH		DFND		0	0	23,802
SALIENT MIDSTREAM & MLP FD	SH BEN INT	79471V105	150	13,000	SH		DFND		0	0	13,000
SCHLUMBERGER LTD	COM	806857108	279	3,965	SH		DFND		0	0	3,965
SEAGATE TECHNOLOGY PLC	SHS	G7945M107	201	5,949	SH		DFND		0	0	5,949
SHIFTPIXY INC	COM	82452L104	89	30,023	SH		DFND		0	0	30,023
SHIRE PLC	SPONSORED ADR	82481R106	375	2,444	SH		DFND		0	0	2,444
SOUTHERN CO	COM	842587107	525	10,687	SH		DFND		0	0	10,687
SOUTHWEST AIRLS CO	COM	844741108	208	3,717	SH		DFND		0	0	3,717
SPDR GOLD TRUST	GOLD SHS	78463V107	24,316	200,000	SH	Call	SOLE		200,000	0	0
SPDR GOLD TRUST	GOLD SHS	78463V107	11	91	SH		DFND		0	0	91
SPDR S&P 500 ETF TR	TR UNIT	78462F103	50,598	210,000	SH	Put	SOLE		210,000	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	60	239	SH		DFND		0	0	239
STERICYCLE INC	COM	858912108	226	3,150	SH		DFND		0	0	3,150
STEWART INFORMATION SVCS COR	COM	860372101	366	9,700	SH	Put	SOLE		9,700	0	0
TE CONNECTIVITY LTD	REG SHS	H84989104	467	5,626	SH		DFND		0	0	5,626
TELECOM ARGENTINA S A	SPON ADR REP B	879273209	3,778	122,518	SH		SOLE		122,518	0	0
TELECOM ARGENTINA S A	SPON ADR REP B	879273209	723	23,431	SH		DFND		0	0	23,431
TERNIUM SA	SPON ADR	880890108	1,227	39,656	SH		DFND		0	0	39,656
TESLA INC	COM	88160R101	554	1,625	SH		DFND		0	0	1,625
THERMO FISHER SCIENTIFIC INC	COM	883556102	354	1,868	SH		DFND		0	0	1,868
TIFFANY & CO NEW	COM	886547108	256	2,775	SH		DFND		0	0	2,775
TORCHMARK CORP	COM	891027104	7,301	91,158	SH		DFND		0	0	91,158
TPI COMPOSITES INC	COM	87266J104	494	22,122	SH		DFND		0	0	22,122
UNITED STATES NATL GAS FUND	UNIT PAR $0.001	912318201	230	35,000	SH		DFND		0	0	35,000
UNITEDHEALTH GROUP INC	COM	91324P102	1,312	6,697	SH		DFND		0	0	6,697
V F CORP	COM	918204108	479	7,540	SH		DFND		0	0	7,540
VALE S A	ADR	91912E105	2,039	202,482	SH		DFND		0	0	202,482
VANECK VECTORS ETF TR	AGRIBUSINESS ETF	92189F700	265	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	313	2,130	SH		DFND		0	0	2,130
VANGUARD INTL EQUITY INDEX F	ALLWRLD EX US	922042775	991	18,793	SH		DFND		0	0	18,793
VANGUARD INTL EQUITY INDEX F	TT WRLD ST ETF	922042742	230	3,235	SH		DFND		0	0	3,235
VANGUARD SPECIALIZED PORTFOL	DIV APP ETF	921908844	584	6,165	SH		DFND		0	0	6,165
VANGUARD TAX MANAGED INTL FD	FTSE DEV MKT ETF	921943858	207	4,770	SH		DFND		0	0	4,770
VANGUARD WORLD FDS	INF TECH ETF	92204A702	514	3,370	SH		DFND		0	0	3,370
VANGUARD WORLD FDS	CONSUM DIS ETF	92204A108	273	1,900	SH		DFND		0	0	1,900
VERIZON COMMUNICATIONS INC	COM	92343V104	653	13,196	SH		DFND		0	0	13,196
VISA INC	COM CL A	92826C839	456	4,329	SH		DFND		0	0	4,329
VULCAN MATLS CO	COM	929160109	586	4,900	SH		DFND		0	0	4,900
WALGREENS BOOTS ALLIANCE INC	COM	931427108	531	6,882	SH		DFND		0	0	6,882
WASTE MGMT INC DEL	COM	94106L109	552	7,050	SH		DFND		0	0	7,050
WATERS CORP	COM	941848103	242	1,350	SH		DFND		0	0	1,350
WEATHERFORD INTL PLC	ORD SHS	G48833100	178	38,918	SH		DFND		0	0	38,918
WESTERN DIGITAL CORP	COM	958102105	237	2,731	SH		DFND		0	0	2,731
WEYERHAEUSER CO	COM	962166104	222	6,538	SH		DFND		0	0	6,538
WISDOMTREE TR	JAPN HEDGE EQT	97717W851	19,966	365,005	SH		DFND		0	0	365,005
YPF SOCIEDAD ANONIMA	SPON ADR CL D	984245100	22,413	1,005,961	SH		SOLE		1,005,961	0	0
YPF SOCIEDAD ANONIMA	SPON ADR CL D	984245100	9,019	404,800	SH	Call	SOLE		404,800	0	0
YPF SOCIEDAD ANONIMA	SPON ADR CL D	984245100	8,007	359,390	SH		DFND		0	0	359,390