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
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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ON HOLDING AG-CLASS A NAMEN AKT A H5919C104   13,074,468 396,196 SH   DFND 1 0 396,196 0
TOPGOLF CALLAWAY BRANDS CORP COM 131193104   18,105,145 912,098 SH   DFND 1 0 912,098 0
PUT - NKE 100 @ 108 EXP 07/21/2023 PUT 99D4L73F6   206,100 1,800 SH Put DFND 1 0 1,800 0
CROWN CASTLE INC COM 22822V101   9,274,716 81,400 SH   DFND 1 0 81,400 0
ISHARES TRUST ISHARES 1-5 YEAR INVESTMEN ISHS 1-5YR INVS 464288646   249,468,720 4,972,468 SH   DFND 1 0 4,972,468 0
CORTEVA INC COM 22052L104   22,157,910 386,700 SH   DFND 1 0 386,700 0
PUT - PBR 100 @ 14 EXP 07/21/2023 PUT 99P6K93T5   4,462,400 80,000 SH Put DFND 1 0 80,000 0
T-MOBILE US INC COM STK COM 872590104   28,830,640 207,564 SH   DFND 1 0 207,564 0
PETROLEO BRASILEIRO ADR SPONSORED ADR 71654V408   96,317,209 6,964,368 SH   DFND 1 0 6,964,368 0
HYATT HOTELS CORP-CL A COM CL A 448579102   28,738,956 250,820 SH   DFND 1 0 250,820 0
WALT DISNEY CO COM 254687106   14,570,496 163,200 SH   DFND 1 0 163,200 0
ZOOMINFO TECHNOLOGIES INC-A COMMON STOCK 98980F104   20,243,447 797,300 SH   DFND 1 0 797,300 0
CALL- BA 100 @ 225 EXP 08/18/2023 CALL 99P6TWLL2   190,000 500 SH Call DFND 1 0 500 0
CALL- ASHR 100 @ 29 EXP 08/18/2023 CALL 99D3NKJQ6   887,500 71,000 SH Call DFND 1 0 71,000 0
WALMART INC COM 931142103   15,780,872 100,400 SH   DFND 1 0 100,400 0
META PLATFORMS INC CL A 30303M102   43,705,619 152,295 SH   DFND 1 0 152,295 0
MARATHON PETROLEUM CORP COM 56585A102   891,407 7,645 SH   DFND 1 0 7,645 0
CANADIAN NATURAL RESOURCES LIMITED COM 136385101   562,600 10,000 SH   DFND 1 0 10,000 0
CNH INDUSTRAL NV SHS N20944109   24,637,406 1,710,931 SH   DFND 1 0 1,710,931 0
CHEVRON CORP COM 166764100   2,438,925 15,500 SH   DFND 1 0 15,500 0
CALL- CVX 100 @ 165 EXP 08/18/2023 CALL 99D3Z0T60   201,000 1,000 SH Call DFND 1 0 1,000 0
WARNER MUSIC GROUP CORP-CL A COM CL A 934550203   21,493,072 823,805 SH   DFND 1 0 823,805 0
HEALTH CARE SPDR ETF SBI HEALTHCARE 81369Y209   73,383,762 552,880 SH   DFND 1 0 552,880 0
CALL- CNHI 100 @ 15 EXP 07/21/2023 CALL 99D3BC0D6   12,500 1,000 SH Call DFND 1 0 1,000 0
FEDEX CORP COM 31428X106   36,713,990 148,100 SH   DFND 1 0 148,100 0
CENOVUS ENERGY INC COM 15135U109   305,640 18,000 SH   DFND 1 0 18,000 0
PUT - NU 100 @ 5.5 EXP 10/20/2023 PUT 99D2HKQY0   2,116,000 200,000 SH Put DFND 1 0 200,000 0
INDUSTRIAL SPDR SBI INT-INDS 81369Y704   76,282,090 710,791 SH   DFND 1 0 710,791 0
CARPENTER TECH COM 144285103   20,657,524 368,030 SH   DFND 1 0 368,030 0
INVESCO S&P 500 EQUAL WEIGHT T S&P500 EQL TEC 46137V282   9,293,244 31,600 SH   DFND 1 0 31,600 0
NU HOLDINGS LTD/CAYMAN ISL-A ORD SHS CL A G6683N103   4,636,969 587,702 SH   DFND 1 0 587,702 0
SKECHERS USA CL A 830566105   19,928,650 378,440 SH   DFND 1 0 378,440 0
MONDELEZ INT CLA CL A 609207105   17,790,066 243,900 SH   DFND 1 0 243,900 0
ISHARES IBOXX H/Y CORP BOND IBOXX HI YD ETF 464288513   176,555,331 2,351,876 SH   DFND 1 0 2,351,876 0
ISHARES IBOXX $ INVEST GRADE CORP BD IBOXX INV CP ETF 464287242   203,015,656 1,877,341 SH   DFND 1 0 1,877,341 0
NETFLIX INC COM 64110L106   25,182,813 57,170 SH   DFND 1 0 57,170 0
PUT - SCCO 100 @ 65 EXP 08/18/2023 PUT 99D3W6426   143,750 1,250 SH Put DFND 1 0 1,250 0
EMBRAER SA SPONSORED ADS 29082A107   32,528,659 2,104,053 SH   DFND 1 0 2,104,053 0
VALERO ENERGY COM 91913Y100   1,002,211 8,544 SH   DFND 1 0 8,544 0
CALL- SU 100 @ 32 EXP 07/21/2023 CALL 99D3YFXZ9   7,000 1,000 SH Call DFND 1 0 1,000 0
PUT - FCX 100 @ 35 EXP 08/18/2023 PUT 99P6W02J4   350,000 7,000 SH Put DFND 1 0 7,000 0
U-HAUL HOLDING CO COM SER N 023586506   5,165,604 101,946 SH   DFND 1 0 101,946 0
UTILITIES SPDR SBI INT-UTILS 81369Y886   47,902,080 732,000 SH   DFND 1 0 732,000 0
SPDR S&P 500 ETF TRUST TR UNIT 78462F103   123,570,949 278,765 SH   DFND 1 0 278,765 0
ISHARE CHINA LARGE CAP ETF CHINA LG-CAP ETF 464287184   44,795,008 1,647,481 SH   DFND 1 0 1,647,481 0
SCHLUMBERGER LTD COM STK 806857108   19,508,352 397,157 SH   DFND 1 0 397,157 0
ENERGY SPDR ENERGY 81369Y506   18,558,790 228,641 SH   DFND 1 0 228,641 0
GODADDY INC CL A 380237107   20,424,091 271,850 SH   DFND 1 0 271,850 0
PENN ENTERTAINMENT INC COM 707569109   7,432,863 309,316 SH   DFND 1 0 309,316 0
MATERIALS SPDR SBI MATERIALS 81369Y100   22,096,042 266,635 SH   DFND 1 0 266,635 0
DUPONT DE NEMOURS INC COM 26614N102   31,582,552 442,085 SH   DFND 1 0 442,085 0
SNOWFLAKE INC-CLASS A CL A 833445109   12,538,575 71,250 SH   DFND 1 0 71,250 0
VANECK GOLD MINERS ETF GOLD MINERS ETF 92189F106   53,593,060 1,779,909 SH   DFND 1 0 1,779,909 0
EMERSON ELECTRIC CO COM 291011104   23,274,883 257,494 SH   DFND 1 0 257,494 0
MATCH GROUP INC COM 57667L107   8,370,000 200,000 SH   DFND 1 0 200,000 0
BOYD GAMING COM 103304101   14,676,056 211,562 SH   DFND 1 0 211,562 0
PHILLIPS 66 COM 718546104   581,532 6,097 SH   DFND 1 0 6,097 0
ITAU UNIBANCO HOLDING SA SPON ADR REP PFD 465562106   16,154,837 2,738,108 SH   DFND 1 0 2,738,108 0
OUTFRONT MEDIA INC COM 69007J106   10,701,987 680,788 SH   DFND 1 0 680,788 0
RTX CORP COM 75513E101   30,806,461 314,480 SH   DFND 1 0 314,480 0
LAS VEGAS SANDS COM 517834107   13,485,000 232,500 SH   DFND 1 0 232,500 0
CALL- LVS 100 @ 62.5 EXP 09/15/2023 CALL 99D1W39D8   349,000 2,000 SH Call DFND 1 0 2,000 0
AFYA LTD-CLASS A CL A COM G01125106   4,316,359 307,433 SH   DFND 1 0 307,433 0
CENTRAIS ELETRICAS BR-SP ADR SPONSORED ADR 15234Q207   828,307 100,158 SH   DFND 1 0 100,158 0
PAGSEGURO DIGITAL LTD-CL A COM CL A G68707101   9,714,260 1,029,053 SH   DFND 1 0 1,029,053 0
WALDENCAST ACQ CL A -CW27 *W EXP 07/27/202 G9503X111   994 1,988 SH   DFND 1 0 1,988 0
ARCO PLATFORM LTD - CLASS A COM CL A G04553106   6,719,927 553,536 SH   DFND 1 0 553,536 0
ISHARES MSCI CHN MSCI CHINA ETF 46429B671   5,853,558 130,835 SH   DFND 1 0 130,835 0
NATURA &CO HOLDING-ADR ADS 63884N108   450,464 64,629 SH   DFND 1 0 64,629 0
ALIBABA GROUP HOLDING LTD SPONSORED ADS 01609W102   39,008,967 468,014 SH   DFND 1 0 468,014 0
VTEX -CLASS A SHS CL A G9470A102   2,535,778 528,287 SH   DFND 1 0 528,287 0
COMPANHIA BRASILEIRA DE DISTRIBUIACAO SA SPONSORED ADR 20440T300   336,686 87,451 SH   DFND 1 0 87,451 0
INVESCO QQQ TRUST SERIES 1 UNIT SER 1 46090E103   19,455,874 52,666 SH   DFND 1 0 52,666 0
UBS GROUP AG SHS H42097107   14,947,726 737,431 SH   DFND 1 0 737,431 0
ISHARES MSCI BRAZIL ETF MSCI BRAZIL ETF 464286400   6,562,924 202,372 SH   DFND 1 0 202,372 0
VASTA PLATFORM LTD CL A G9440A109   2,331,208 695,883 SH   DFND 1 0 695,883 0
INTER & CO INC - CL A CLASS A COM G4R20B107   425,608 135,977 SH   DFND 1 0 135,977 0
COPA HOLDINGS SA CL A P31076105   14,980,273 135,470 SH   DFND 1 0 135,470 0
GERDAU SA SPON ADR REP PFD 373737105   5,754,643 1,102,422 SH   DFND 1 0 1,102,422 0
PUT - SPY 100 @ 424 EXP 07/21/2023 PUT 99D3JBF69   185,881 3,150 SH Put DFND 1 0 3,150 0
COMPANIA SPON ADS 20441B605   9,489,382 1,102,135 SH   DFND 1 0 1,102,135 0
PATRIA INVESTMENTS LTD-A COM CL A G69451105   19,114,581 1,336,684 SH   DFND 1 0 1,336,684 0
PUT - SPY 100 @ 415 EXP 07/21/2023 PUT 99P796L13   26,565 770 SH Put DFND 1 0 770 0
XP INC - CLASS A CL A G98239109   26,908,104 1,146,978 SH   DFND 1 0 1,146,978 0
VINCI PARTNERS INVESTMENTS-A COM CL A G9451V109   323,758 34,738 SH   DFND 1 0 34,738 0
CENTRAIS ELEC BRAS-ADR PREF SPON ADR PFD B 15234Q108   164,497 17,444 SH   DFND 1 0 17,444 0
VALE SA SP ADR SPONSORED ADS 91912E105   11,469,497 854,657 SH   DFND 1 0 854,657 0
AMBIPAR EMERGENCY RESPONS-28 *W EXP 99/99/999 G02532110   711,114 1,421,940 SH   DFND 1 0 1,421,940 0
ARCOS DORADOS HOLDINGS INC SHS CLASS -A - G0457F107   2,569,070 250,641 SH   DFND 1 0 250,641 0
AMBIPAR EMERGENCY RESPONSE CL A ORD SHS G02532102   209,510 21,599 SH   DFND 1 0 21,599 0
ZANITE ACQ CL A -CW25 *W EXP 05/09/202 29970N112   1,323,491 1,503,796 SH   DFND 1 0 1,503,796 0
ADECOAGRO SA COM L00849106   1,683,817 179,895 SH   DFND 1 0 179,895 0
SABESP SPONSORED ADR 20441A102   241,903 20,431 SH   DFND 1 0 20,431 0
VESTA REAL ESTATE CORPORATION ADS 92540K109   1,395,126 43,300 SH   DFND 1 0 43,300 0
GSK PLC-SPON ADR SPONSORED ADR 37733W204   4,944,052 138,722 SH   DFND 1 0 138,722 0
TENARIS S A ADR SPONSORED ADS 88031M109   16,276,837 543,467 SH   DFND 1 0 543,467 0
STONECO LTD-A COM CL A G85158106   123,425 9,688 SH   DFND 1 0 9,688 0
COSAN SA -ADR -W/I ADS 22113B103   38,419 2,575 SH   DFND 1 0 2,575 0
GOL LINHAS AEREAS INTEL SPON ADR PFD NEW 38045R206   83,483 15,290 SH   DFND 1 0 15,290 0
BANCO BRADESCO SPONSORED ADR 059460402   19,839 6,591 SH   DFND 1 0 6,591 0
COMPNHIA ENRG SP ADR N-V PFD 204409601   6,629,956 2,520,896 SH   DFND 1 0 2,520,896 0
ISHRS BRAZIL SM BRAZIL SM-CP ETF 464289131   6,024 400 SH   DFND 1 0 400 0
SUZANO SA SPON ADS 86959K105   2,722,509 295,283 SH   DFND 1 0 295,283 0
BANCO BRADESCO SP ADR PFD NEW 059460303   1,752,172 506,408 SH   DFND 1 0 506,408 0
ISHARES JPMORGAN USD EMERGING MARKET BND JPMORGAN USD EMG 464288281   24,317,740 281,000 SH   DFND 1 0 281,000 0
COMPHANIA DE BEBIDAS DAS AMERICAS AMBEV SPONSORED ADR 02319V103   358,392 112,702 SH   DFND 1 0 112,702 0
AZUL SA SPONSR ADR PFD 05501U106   1,506 110 SH   DFND 1 0 110 0
SPDR S&P HOMEBUILDERS S&P HOMEBUILD 78464A888   833,675 10,382 SH   DFND 1 0 10,382 0