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

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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
PROSHARES TR PSHS SHORT DOW30 74347R701 394 16,102 SH   DFND 1 16,102 0 0
PROSHARES TR SHRT RUSSELL2000 74348A210 435 6,695 SH   DFND 1 6,695 0 0
PROSHARES TR PSHS SHRT S&P500 74347R503 374 16,598 SH   DFND 1 16,958 0 0
ISHARES TR 1-3 YR TR BD ETF 464287457 952 11,203 SH   DFND 1 11,203 0 0
MARKET VECTORS ETF TR VIETNAM ETF 57060U761 3,870 250,000 SH   DFND 1 250,000 0 0
ISHARES TR MSCI EAFE ETF 464287457 638 75,000 SH Call DFND 1 75,000 0 0
ISHARES TR MSCI EAFE ETF 454287457 83 15,000 SH Call DFND 1 15,000 0 0