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
APPLE INC COM 037833100 23,025 208,600 SH   SOLE   17,500 0 191,100
CALIFORNIA RES CORP COM 13057Q107 140 25,320 SH   SOLE   0 0 25,320
CAMERON INTERNATIONAL CORP COM 13342B105 5,549 111,100 SH   SOLE   0 0 111,100
CHICAGO BRIDGE & IRON CO N V COM 167250109 1,952 46,500 SH   SOLE   0 0 46,500
DISNEY WALT CO COM DISNEY 254687106 527 5,600 SH   SOLE   5,600 0 0
FLUOR CORP NEW COM 343412102 7,221 119,100 SH   SOLE   0 0 119,100
FREEPORT-MCMORAN INC CL B 35671D857 3,913 167,500 SH   SOLE   0 0 167,500
HALLIBURTON CO COM 406216101 4,389 111,600 SH   SOLE   0 0 111,600
ISHARES MSCI BRZ CAP ETF 464286400 6,374 174,300 SH   SOLE   0 0 174,300
ISHARES MSCI GERMANY ETF 464286806 1,001 34,500 SH Call SOLE   34,500 0 0
ISHARES TR TIPS BD ETF 464287176 1,120 10,000 SH   SOLE   0 0 10,000
ISHARES TR MSCI EMG MKT ETF 464287234 2,200 56,000 SH   SOLE   0 0 56,000
ISHARES TR NASDQ BIOTEC ETF 464287556 8,949 29,500 SH   SOLE   0 0 29,500
ISHARES GLB INFRASTR ETF 464288372 391 9,280 SH   SOLE   0 0 9,280
LAS VEGAS SANDS CORP COM 517834107 5,234 90,000 SH   SOLE   0 0 90,000
MARKET VECTORS ETF TR BIOTECH ETF 57060U183 4,139 64,400 SH   SOLE   0 0 64,400
MARKET VECTORS ETF TR OIL SVCS ETF 57060U191 2,123 59,100 SH   SOLE   0 0 59,100
MARKET VECTORS ETF TR AGRIBUS ETF 57060U605 2,873 54,700 SH   SOLE   0 0 54,700
OCCIDENTAL PETE CORP DEL COM 674599105 5,103 63,300 SH   SOLE   0 0 63,300
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 6,040 58,500 SH   SOLE   0 0 58,500
PRUDENTIAL FINL INC COM 744320102 7,650 90,000 SH Call SOLE   6,300 0 83,700
QUALCOMM INC COM 747525103 5,575 75,000 SH   SOLE   0 0 75,000
SM ENERGY CO COM 78454L100 1,478 38,300 SH   SOLE   0 0 38,300
SPDR S&P 500 ETF TR TR UNIT 78462F103 692,489 3,369,775 SH   SOLE   239,700 0 3,130,075
SPDR S&P 500 ETF TR TR UNIT 78462F103 341,550 1,650,000 SH Put SOLE   120,300 0 1,529,700
SPDR SERIES TRUST S&P METALS MNG 78464A755 1,389 45,000 SH   SOLE   0 0 45,000
SPDR SERIES TRUST S&P HOMEBUILD 78464A888 2,900 85,000 SH   SOLE   0 0 85,000
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 1,584 6,000 SH   SOLE   0 0 6,000
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 3,143 39,700 SH   SOLE   0 0 39,700
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 4,241 171,500 SH   SOLE   0 0 171,500
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 3,707 78,500 SH   SOLE   0 0 78,500
SHIRE PLC SPONSORED ADR 82481R106 3,762 17,700 SH   SOLE   0 0 17,700
TEREX CORP NEW COM 880779103 432 15,500 SH   SOLE   0 0 15,500
THERMO FISHER SCIENTIFIC INC COM 883556102 1,875 15,000 SH Call SOLE   1,100 0 13,900
TRIPADVISOR INC COM 896945201 2,792 37,400 SH   SOLE   0 0 37,400
U S SILICA HLDGS INC COM 90346E103 4,062 158,100 SH   SOLE   0 0 158,100
VANGUARD WHITEHALL FDS INC HIGH DIV YLD 921946406 4,462 64,900 SH   SOLE   0 0 64,900
VEEVA SYS INC CL A COM 922475108 1,321 50,000 SH   SOLE   0 0 50,000
WYNN RESORTS LTD COM 983134107 4,567 30,700 SH   SOLE   0 0 30,700
YAHOO INC COM 984332106 10,349 204,900 SH   SOLE   0 0 204,900