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
iShares MSCI Emerging Markets Indx ETF ETF 464287234 26,637 678,813 SH   SOLE   0 0 2,922,645
iShares MSCI Emerging Markets Indx ETF CALL 464287904 10,800 240,000 SH Call SOLE   0 0 2,922,645
iShares MSCI Emerging Markets Indx ETF PUT 464287954 56,391 1,457,400 SH Put SOLE   0 0 2,922,645
iShares MSCI EAFE ETF ETF 464287465 78,515 1,337,800 SH   SOLE   0 0 2,922,645
iShares MSCI EAFE ETF CALL 464287905 27,197 405,800 SH Call SOLE   0 0 2,922,645
iShares MSCI EAFE ETF PUT 464287955 80,706 1,353,300 SH Put SOLE   0 0 2,922,645
SPDR Gold Trust ETF 78463V107 6,344 52,400 SH   SOLE   0 0 2,922,645
SPDR Gold Trust CALL 78463V907 8,966 69,100 SH Call SOLE   0 0 2,922,645
SPDR Gold Trust PUT 78463V957 6,240 52,000 SH Put SOLE   0 0 2,922,645
ISHARES TR - IBOXX HI YD ETF 464288513 235 2,900 SH   SOLE   0 0 2,922,645
ISHARES TR - IBOXX HI YD PUT 464288953 215 2,900 SH Put SOLE   0 0 2,922,645
ISHARES TR - 3-7 YR TREAS BD ETF ETF 464288661 4,639 38,279 SH   SOLE   0 0 2,922,645
ishares ETF - CORE MSCI EMKT ETF 46434G103 30,428 643,980 SH   SOLE   0 0 2,922,645
IShares ETF-Rus2000 ETF 464287655 78,255 589,000 SH   SOLE   0 0 2,922,645
i-shares U.S. REAL ES ETF ETF 464287739 441 5,900 SH   SOLE   0 0 2,922,645
i-shares U.S. REAL ES ETF PUT 464287959 442 5,900 SH Put SOLE   0 0 2,922,645
POWERSHARES QQQ TRUST ETF 73935A104 4,864 31,800 SH   SOLE   0 0 2,922,645
POWERSHARES QQQ TRUST CALL 73935A904 5,425 31,000 SH Call SOLE   0 0 2,922,645
POWERSHARES QQQ TRUST PUT 73935A954 3,975 31,800 SH Put SOLE   0 0 2,922,645
iShares Trust - iShares 1-3 Year Treasury Bond ETF ETF 464287457 4,574 54,717 SH   SOLE   0 0 2,922,645
SPDR S&P 500 ETF TR TR UNIT 78462F103 519,758 2,097,913 SH   SOLE   0 0 2,922,645
SPDR S&P 500 ETF TR CALL 78462F903 377 1,300 SH Call SOLE   0 0 2,922,645
SPDR S&P 500 ETF TR PUT 78462F953 986,391 3,945,600 SH Put SOLE   0 0 2,922,645
IShares ETF-20yr ETF 464287432 2,457 20,300 SH   SOLE   0 0 2,922,645
IShares ETF-20yr PUT 464287952 2,777 24,500 SH Put SOLE   0 0 2,922,645
Twitter Inc Company 90184L102 739 26,000 SH   SOLE   0 0 2,922,645
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 288,175 5,752,001 SH   SOLE   0 0 2,922,645
SELECT SECTOR SPDR TR SBI COMMUNICATIONS 81369Y852 282,144 6,844,839 SH   SOLE   0 0 2,922,645
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 275,249 4,824,706 SH   SOLE   0 0 2,922,645
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 232,475 9,854,824 SH   SOLE   0 0 2,922,645
SELECT SECTOR SPDR TR PUT 81369Y955 966 72,000 SH Put SOLE   0 0 2,922,645
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 281,438 4,413,323 SH   SOLE   0 0 2,922,645
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 282,449 4,600,145 SH   SOLE   0 0 2,922,645
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 285,196 5,639,618 SH   SOLE   0 0 2,922,645
SELECT SECTOR SPDR TR SBI INT-REALESTATE 81369Y860 53,875 1,741,277 SH   SOLE   0 0 2,922,645
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 288,927 5,468,987 SH   SOLE   0 0 2,922,645
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 290,659 3,409,493 SH   SOLE   0 0 2,922,645
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 286,302 2,922,645 SH   SOLE   0 0 2,922,645