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
ABBVIE INC COM 00287Y109 36,060 662,750 SH   SOLE   424,000 0 238,750
GOOGLE INC CL A 38259P508 18,682 29,265 SH   SOLE   19,090 0 10,175
GOOGLE INC CL C 38259P706 16,449 27,035 SH   SOLE   17,195 0 9,840
AMGEN INC COM 031162100 501 3,625 SH   SOLE   0 0 3,625
AUTOMATIC DATA PROCESSING IN COM 053015103 567 7,050 SH   SOLE   0 0 7,050
BECTON DICKINSON & CO COM 075887109 531 4,000 SH   SOLE   0 0 4,000
BLACKROCK INC COM 09247X101 35,317 118,725 SH   SOLE   77,150 0 41,575
CITIGROUP INC COM NEW 172967424 33,752 680,350 SH   SOLE   443,125 0 237,225
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 4,251 57,250 SH   SOLE   14,425 0 42,825
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 22,320 472,975 SH   SOLE   298,725 0 174,250
COSTCO WHSL CORP NEW COM 22160K105 42,799 296,045 SH   SOLE   189,895 0 106,150
CVS HEALTH CORP COM 126650100 545 5,650 SH   SOLE   0 0 5,650
D R HORTON INC COM 23331A109 521 17,750 SH   SOLE   0 0 17,750
ECOLAB INC COM 278865100 39,771 362,475 SH   SOLE   237,375 0 125,100
E M C CORP MASS COM 268648102 590 24,425 SH   SOLE   2,900 0 21,525
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 12,881 210,475 SH   SOLE   137,450 0 73,025
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 52,991 2,338,525 SH   SOLE   1,568,025 0 770,500
FIRST TR EXCHANGE TRADED FD DJ INTERNT IDX 33733E302 25,468 385,475 SH   SOLE   247,600 0 137,875
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 81,528 1,230,980 SH   SOLE   797,630 0 433,350
HILTON WORLDWIDE HLDGS INC COM 43300A104 26,225 1,143,200 SH   SOLE   792,950 0 350,250
HONEYWELL INTL INC COM 438516106 38,828 410,050 SH   SOLE   264,575 0 145,475
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 54,701 1,096,425 SH   SOLE   703,675 0 392,750
ISHARES TR 1-3 YR CR BD ETF 464288646 4,205 39,995 SH   SOLE   39,500 0 495
ISHARES TR IBOXX INV CP ETF 464287242 3,630 31,270 SH   SOLE   29,910 0 1,360
ISHARES TR INTERM CR BD ETF 464288638 8,709 80,190 SH   SOLE   0 0 80,190
ISHARES TR NASDQ BIOTEC ETF 464287556 2,298 7,575 SH   SOLE   7,575 0 0
ISHARES TR US HOME CONS ETF 464288752 36,280 1,390,050 SH   SOLE   889,200 0 500,850
JOHNSON & JOHNSON COM 478160104 2,621 28,075 SH   SOLE   11,725 0 16,350
KROGER CO COM 501044101 43,859 1,215,950 SH   SOLE   778,250 0 437,700
LAM RESEARCH CORP COM 512807108 37,072 567,450 SH   SOLE   364,675 0 202,775
MACYS INC COM 55616P104 440 8,575 SH   SOLE   0 0 8,575
OFFICE DEPOT INC COM 676220106 22,436 3,494,650 SH   SOLE   2,326,800 0 1,167,850
ORACLE CORP COM 68389X105 509 14,100 SH   SOLE   0 0 14,100
PIONEER NAT RES CO COM 723787107 16,224 133,375 SH   SOLE   89,375 0 44,000
ROPER TECHNOLOGIES INC COM 776696106 588 3,750 SH   SOLE   0 0 3,750
SCHLUMBERGER LTD COM 806857108 22,245 322,525 SH   SOLE   212,125 0 110,400
SCHWAB STRATEGIC TR US REIT ETF 808524847 2,004 53,875 SH   SOLE   53,875 0 0
TE CONNECTIVITY LTD REG SHS H84989104 563 9,400 SH   SOLE   0 0 9,400
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 82,619 2,091,625 SH   SOLE   1,329,050 0 762,575
TJX COS INC NEW COM 872540109 35,564 497,950 SH   SOLE   320,600 0 177,350
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 27,222 628,825 SH   SOLE   421,650 0 207,175
VANGUARD INTL EQUITY INDEX F ALLWRLD EX US 922042775 7,842 183,960 SH   SOLE   183,960 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 4,566 53,450 SH   SOLE   35,550 0 17,900
DISNEY WALT CO COM DISNEY 254687106 616 6,025 SH   SOLE   875 0 5,150
WHIRLPOOL CORP COM 963320106 32,905 223,450 SH   SOLE   143,250 0 80,200
ADVANCED SEMICONDUCTOR ENGR SPONSORED ADR 00756M404 138 25,150 SH   SOLE   25,150 0 0
GERDAU S A SPON ADR REP PFD 373737105 35 25,275 SH   SOLE   25,275 0 0
ICICI BK LTD ADR 45104G104 98 11,700 SH   SOLE   11,700 0 0
VALE S A ADR 91912E105 44 10,425 SH   SOLE   10,425 0 0