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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ADECOAGRO S A COM L00849106 3,437 332,432 SH   SOLE 332,432 0 0
ANADARKO PETE CORP COM 032511107 783 14,600 SH   SOLE 14,600 0 0
CALLON PETE CO DEL COM 13123X102 813 66,900 SH   SOLE 66,900 0 0
CARRIZO OIL & GAS INC COM 144577103 2,466 115,900 SH   SOLE 115,900 0 0
CIMAREX ENERGY CO COM 171798101 756 6,200 SH   SOLE 6,200 0 0
CONTINENTAL RESOURCES INC COM 212015101 1,006 19,000 SH   SOLE 19,000 0 0
CRESUD S A C I F Y A SPONSORED ADR 226406106 13,062 591,295 SH   SOLE 591,295 0 0
DEVON ENERGY CORP NEW COM 25179M103 845 20,400 SH   SOLE 20,400 0 0
DIAMONDBACK ENERGY INC COM 25278X109 2,651 21,000 SH   SOLE 21,000 0 0
GEOPARK LTD USD SHS G38327105 8,037 810,952 SH   SOLE 810,952 0 0
HIGHLAND FLOATNG RATE OPPRT SHS BEN INT 43010E404 425 27,441 SH   SOLE 27,441 0 0
IRSA INVERSIONES Y REP S A GLOBL DEP RCPT 450047204 44,861 1,515,567 SH   SOLE 1,515,567 0 0
OASIS PETE INC NEW COM 674215108 2,039 242,500 SH   SOLE 242,500 0 0
PAMPA ENERGIA S A SPONS ADR LVL I 697660207 48,181 716,127 SH   SOLE 716,127 0 0
PANGAEA LOGISTICS SOLUTION L SHS G6891L105 8,178 2,222,222 SH   SOLE 2,222,222 0 0
PARSLEY ENERGY INC CL A 701877102 839 28,500 SH   SOLE 28,500 0 0
PDC ENERGY INC COM 69327R101 794 15,400 SH   SOLE 15,400 0 0
PETROBRAS ARGENTINA S A SPONS ADR 71646J109 475 34,918 SH   SOLE 34,918 0 0
PIONEER NAT RES CO COM 723787107 847 4,900 SH   SOLE 4,900 0 0
PROPETRO HLDG CORP COM 74347M108 3,024 150,000 SH   SOLE 150,000 0 0
QEP RES INC COM 74733V100 843 88,100 SH   SOLE 88,100 0 0
RESOLUTE ENERGY CORP COM NEW 76116A306 18,347 583,000 SH   SOLE 583,000 0 0
RSP PERMIAN INC COM 74978Q105 883 21,700 SH   SOLE 21,700 0 0
SM ENERGY CO COM 78454L100 12,696 575,000 SH   SOLE 575,000 0 0
SMART SAND INC COM 83191H107 2,103 242,800 SH   SOLE 242,800 0 0
TRANSPORTADORA DE GAS SUR SPON ADR B 893870204 4,597 206,788 SH   SOLE 206,788 0 0
U S SILICA HLDGS INC COM 90346E103 6,386 196,143 SH   SOLE 196,143 0 0
WPX ENERGY INC COM 98212B103 951 67,600 SH   SOLE 67,600 0 0