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 11,457 48,676 SH   SOLE   48,676 0 0
AK STL HLDG CORP COM 001547108 3,461 611,550 SH   SOLE   611,550 0 0
BHP BILLITON LTD SPONSORED ADR 088606108 8,088 175,871 SH   SOLE   175,871 0 0
COSTCO WHSL CORP NEW COM 22160K105 8,895 47,794 SH   SOLE   47,794 0 0
CRESUD S A C I F Y A SPONSORED ADR 226406106 473 21,396 SH   SOLE   21,396 0 0
D R HORTON INC COM 23331A109 14,706 287,966 SH   SOLE   287,966 0 0
FACEBOOK INC CL A 30303M102 7,711 43,698 SH   SOLE   43,698 0 0
FORTUNE BRANDS HOME & SEC IN COM 34964C106 3,735 54,579 SH   SOLE   54,579 0 0
HONEYWELL INTL INC COM 438516106 5,359 34,941 SH   SOLE   34,941 0 0
INTEL CORP COM 458140100 5,760 124,789 SH   SOLE   124,789 0 0
INTUITIVE SURGICAL INC COM NEW 46120E602 9,909 27,153 SH   SOLE   27,153 0 0
ISHARES INC MSCI BRAZIL ETF 464286400 7,335 181,323 SH   SOLE   181,323 0 0
ISHARES INC MSCI STH KOR ETF 464286772 26,159 349,118 SH   SOLE   349,118 0 0
ISHARES INC MSCI MEXICO ETF 464286822 16,825 341,353 SH   SOLE   341,353 0 0
ISHARES INC MSCI TAIWAN ETF 46434G772 14,898 411,426 SH   SOLE   411,426 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 41,687 884,708 SH   SOLE   884,708 0 0
ISHARES TR US HOME CONS ETF 464288752 14,484 331,281 SH   SOLE   331,281 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 5,631 433,153 SH   SOLE   433,153 0 0
LENNAR CORP CL A 526057104 7,690 121,600 SH   SOLE   121,600 0 0
LOCKHEED MARTIN CORP COM 539830109 5,761 17,944 SH   SOLE   17,944 0 0
MASCO CORP COM 574599106 4,267 97,106 SH   SOLE   97,106 0 0
MICROSOFT CORP COM 594918104 8,167 95,476 SH   SOLE   95,476 0 0
NORFOLK SOUTHERN CORP COM 655844108 9,186 63,392 SH   SOLE   63,392 0 0
NORTHROP GRUMMAN CORP COM 666807102 6,321 20,594 SH   SOLE   20,594 0 0
POTASH CORP SASK INC COM 73755L107 3,112 150,721 SH   SOLE   150,721 0 0
PULTE GROUP INC COM 745867101 10,507 316,002 SH   SOLE   316,002 0 0
RAYTHEON CO COM NEW 755111507 8,055 42,882 SH   SOLE   42,882 0 0
ROCKWELL AUTOMATION INC COM 773903109 6,194 31,545 SH   SOLE   31,545 0 0
ROSS STORES INC COM 778296103 8,389 104,536 SH   SOLE   104,536 0 0
SCHLUMBERGER LTD COM 806857108 3,285 48,743 SH   SOLE   48,743 0 0
SHERWIN WILLIAMS CO COM 824348106 4,961 12,098 SH   SOLE   12,098 0 0
SOCIEDAD QUIMICA MINERA DE C SPON ADR SER B 833635105 9,077 152,888 SH   SOLE   152,888 0 0
SONY CORP SPONSORED ADR 835699307 6,344 141,137 SH   SOLE   141,137 0 0
SOUTHERN COPPER CORP COM 84265V105 7,009 147,715 SH   SOLE   147,715 0 0
SPDR SERIES TRUST S&P REGL BKG 78464A698 16,555 281,308 SH   SOLE   281,308 0 0
SPDR SERIES TRUST S&P OILGAS EXP 78464A730 6,798 182,841 SH   SOLE   182,841 0 0
SPDR SERIES TRUST S&P HOMEBUILD 78464A888 7,583 171,334 SH   SOLE   171,334 0 0
SPLUNK INC COM 848637104 2,557 30,870 SH   SOLE   30,870 0 0
ST JOE CO COM 790148100 3,755 208,008 SH   SOLE   208,008 0 0
STEEL DYNAMICS INC COM 858119100 4,860 112,679 SH   SOLE   112,679 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 6,005 258,404 SH   SOLE   258,404 0 0
WAL-MART STORES INC COM 931142103 8,401 85,070 SH   SOLE   85,070 0 0