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
3M CO COM 88579Y101 17,819 101,110 SH   SOLE   101,110 0 0
AK STL HLDG CORP COM 001547108 8,648 1,790,449 SH   SOLE   1,790,449 0 0
BHP BILLITON LTD SPONSORED ADR 088606108 12,636 364,688 SH   SOLE   364,688 0 0
CME GROUP INC COM 12572Q105 14,159 135,469 SH   SOLE   135,469 0 0
COSTCO WHSL CORP NEW COM 22160K105 15,134 99,233 SH   SOLE   99,233 0 0
D R HORTON INC COM 23331A109 18,044 597,474 SH   SOLE   597,474 0 0
DBX ETF TR DBXTR HAR CS 300 233051879 3,292 133,938 SH   SOLE   133,938 0 0
FACEBOOK INC CL A 30303M102 11,606 90,476 SH   SOLE   90,476 0 0
FORTUNE BRANDS HOME & SEC IN COM 34964C106 9,797 168,615 SH   SOLE   168,615 0 0
GENERAL ELECTRIC CO COM 369604103 7,128 240,668 SH   SOLE   240,668 0 0
HONEYWELL INTL INC COM 438516106 8,473 72,672 SH   SOLE   72,672 0 0
INTEL CORP COM 458140100 9,773 258,894 SH   SOLE   258,894 0 0
INTUITIVE SURGICAL INC COM NEW 46120E602 13,626 18,799 SH   SOLE   18,799 0 0
ISHARES MSCI BRZ CAP ETF 464286400 7,549 223,807 SH   SOLE   223,807 0 0
ISHARES MSCI TAIWAN ETF 464286731 22,693 1,445,454 SH   SOLE   1,445,454 0 0
ISHARES MSCI STH KOR ETF 464286772 41,859 720,087 SH   SOLE   720,087 0 0
ISHARES MSCI MEX CAP ETF 464286822 35,175 725,553 SH   SOLE   725,553 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 86,218 2,302,203 SH   SOLE   2,302,203 0 0
ISHARES TR IBOXX INV CP ETF 464287242 123,919 1,006,000 SH Put SOLE   1,006,000 0 0
ISHARES TR US HOME CONS ETF 464288752 18,922 686,824 SH   SOLE   686,824 0 0
LENNAR CORP CL A 526057104 10,680 252,260 SH   SOLE   252,260 0 0
LOCKHEED MARTIN CORP COM 539830109 8,897 37,114 SH   SOLE   37,114 0 0
MASCO CORP COM 574599106 10,311 300,515 SH   SOLE   300,515 0 0
MICROSOFT CORP COM 594918104 11,409 198,066 SH   SOLE   198,066 0 0
NORFOLK SOUTHERN CORP COM 655844108 12,778 131,657 SH   SOLE   131,657 0 0
NORTHROP GRUMMAN CORP COM 666807102 9,173 42,871 SH   SOLE   42,871 0 0
POTASH CORP SASK INC COM 73755L107 5,099 312,438 SH   SOLE   312,438 0 0
PULTE GROUP INC COM 745867101 13,134 655,433 SH   SOLE   655,433 0 0
RANGE RES CORP COM 75281A109 7,439 191,973 SH   SOLE   191,973 0 0
RAYTHEON CO COM NEW 755111507 12,094 88,845 SH   SOLE   88,845 0 0
ROCKWELL AUTOMATION INC COM 773903109 7,990 65,312 SH   SOLE   65,312 0 0
ROSS STORES INC COM 778296103 13,953 216,989 SH   SOLE   216,989 0 0
SCHLUMBERGER LTD COM 806857108 7,970 101,359 SH   SOLE   101,359 0 0
SHERWIN WILLIAMS CO COM 824348106 8,623 31,168 SH   SOLE   31,168 0 0
SILVER WHEATON CORP COM 828336107 15,344 567,644 SH   SOLE   567,644 0 0
SOCIEDAD QUIMICA MINERA DE C SPON ADR SER B 833635105 10,316 383,515 SH   SOLE   383,515 0 0
SONY CORP ADR NEW 835699307 9,725 292,825 SH   SOLE   292,825 0 0
SOUTHERN COPPER CORP COM 84265V105 8,062 306,555 SH   SOLE   306,555 0 0
SPDR SERIES TRUST S&P REGL BKG 78464A698 24,534 580,399 SH   SOLE   580,399 0 0
SPDR SERIES TRUST S&P HOMEBUILD 78464A888 12,070 355,614 SH   SOLE   355,614 0 0
SPLUNK INC COM 848637104 3,754 63,973 SH   SOLE   63,973 0 0
ST JOE CO COM 790148100 7,928 431,338 SH   SOLE   431,338 0 0
STEEL DYNAMICS INC COM 858119100 9,560 382,573 SH   SOLE   382,573 0 0
WEYERHAEUSER CO COM 962166104 8,008 250,715 SH   SOLE   250,715 0 0