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 9,298 44,127 SH   SOLE   44,127 0 0
AK STL HLDG CORP COM 001547108 518 105,728 SH   SOLE   105,728 0 0
BHP BILLITON LTD SPONSORED ADR 088606108 8,175 164,026 SH   SOLE   164,026 0 0
CATERPILLAR INC DEL COM 149123101 6,862 44,997 SH   SOLE   44,997 0 0
COSTCO WHSL CORP NEW COM 22160K105 8,529 36,313 SH   SOLE   36,313 0 0
CRESUD S A C I F Y A SPONSORED ADR 226406106 2,836 200,316 SH   SOLE   200,316 0 0
D R HORTON INC COM 23331A109 10,771 255,364 SH   SOLE   255,364 0 0
DBX ETF TR XTRACK HRVST CSI 233051879 1,451 57,237 SH   SOLE   57,237 0 0
DEVON ENERGY CORP NEW COM 25179M103 6,257 156,649 SH   SOLE   156,649 0 0
HONEYWELL INTL INC COM 438516106 5,366 32,611 SH   SOLE   32,611 0 0
INTEL CORP COM 458140100 5,504 116,380 SH   SOLE   116,380 0 0
INTUITIVE SURGICAL INC COM NEW 46120E602 9,460 16,481 SH   SOLE   16,481 0 0
INVESCO QQQ TR UNIT SER 1 46090E103 409 2,200 SH Put SOLE   2,200 0 0
ISHARES INC MSCI CHILE ETF 464286640 5,658 124,883 SH   SOLE   124,883 0 0
ISHARES INC MSCI STH KOR ETF 464286772 22,229 325,607 SH   SOLE   325,607 0 0
ISHARES INC MSCI MEXICO ETF 464286822 9,561 186,627 SH   SOLE   186,627 0 0
ISHARES INC MSCI TAIWAN ETF 46434G772 14,466 383,711 SH   SOLE   383,711 0 0
ISHARES INC MSCI MLY ETF NEW 46434G814 8,352 258,169 SH   SOLE   258,169 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 24,894 580,004 SH   SOLE   580,004 0 0
ISHARES TR US HOME CONS ETF 464288752 10,919 308,966 SH   SOLE   308,966 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 4,436 403,969 SH   SOLE   403,969 0 0
LENNAR CORP CL A 526057104 5,295 113,418 SH   SOLE   113,418 0 0
MICROSOFT CORP COM 594918104 10,184 89,044 SH   SOLE   89,044 0 0
NORFOLK SOUTHERN CORP COM 655844108 10,671 59,121 SH   SOLE   59,121 0 0
NORTHROP GRUMMAN CORP COM 666807102 6,095 19,206 SH   SOLE   19,206 0 0
NUTRIEN LTD COM 67077M108 5,707 98,916 SH   SOLE   98,916 0 0
PETROCHINA CO LTD SPONSORED ADR 71646E100 1,018 12,500 SH   SOLE   12,500 0 0
PULTE GROUP INC COM 745867101 7,300 294,710 SH   SOLE   294,710 0 0
RAYTHEON CO COM NEW 755111507 8,265 39,991 SH   SOLE   39,991 0 0
ROCKWELL AUTOMATION INC COM 773903109 5,517 29,423 SH   SOLE   29,423 0 0
ROSS STORES INC COM 778296103 9,661 97,492 SH   SOLE   97,492 0 0
SHERWIN WILLIAMS CO COM 824348106 5,133 11,276 SH   SOLE   11,276 0 0
SONY CORP SPONSORED ADR 835699307 8,962 147,767 SH   SOLE   147,767 0 0
SOUTHERN COPPER CORP COM 84265V105 5,943 137,764 SH   SOLE   137,764 0 0
SPDR SERIES TRUST S&P REGL BKG 78464A698 15,589 262,358 SH   SOLE   262,358 0 0
SPDR SERIES TRUST S&P OILGAS EXP 78464A730 8,170 188,738 SH   SOLE   188,738 0 0
SPDR SERIES TRUST S&P HOMEBUILD 78464A888 6,142 159,792 SH   SOLE   159,792 0 0
SPLUNK INC COM 848637104 3,481 28,791 SH   SOLE   28,791 0 0
ST JOE CO COM 790148100 2,655 158,040 SH   SOLE   158,040 0 0
VALE S A ADR 91912E105 4,863 327,667 SH   SOLE   327,667 0 0
VANECK VECTORS ETF TR RUSSIA ETF 92189F403 3,810 176,703 SH   SOLE   176,703 0 0