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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
ISHARES TR IBOXX HI YD ETF 464288513 1,555 17,968 SH   OTR   0 0 17,968
ISHARES TR IBOXX INV CP ETF 464287242 6,701 57,188 SH   OTR   0 0 57,188
ISHARES TR TIPS BD ETF 464287176 252 2,225 SH   OTR   0 0 2,225
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 442 8,899 SH   OTR   0 0 8,899
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 771 12,385 SH   OTR   0 0 12,385
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 1,641 31,738 SH   OTR   0 0 31,738
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 322 4,673 SH   OTR   0 0 4,673
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 599 7,359 SH   OTR   0 0 7,359