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 47,910 992,552 SH   SOLE   0 0 80
iShares MSCI Emerging Markets Indx ETF PUT 464287954 53,717 1,182,200 SH Put SOLE   0 0 80
iShares MSCI EAFE ETF ETF 464287465 68,318 980,600 SH   SOLE   0 0 80
iShares MSCI EAFE ETF PUT 464287955 65,731 978,400 SH Put SOLE   0 0 80
SPDR Gold Trust ETF 78463V107 5,507 43,800 SH   SOLE   0 0 80
SPDR Gold Trust CALL 78463V907 5,560 43,100 SH Call SOLE   0 0 80
SPDR Gold Trust PUT 78463V957 5,233 43,100 SH Put SOLE   0 0 80
ISHARES TR - IBOXX HI YD ETF 464288513 248 2,900 SH   SOLE   0 0 80
ISHARES TR - IBOXX HI YD PUT 464288953 435 5,800 SH Put SOLE   0 0 80
ISHARES TR - 3-7 YR TREAS BD ETF ETF 464288661 5,855 48,539 SH   SOLE   0 0 80
ishares ETF - CORE MSCI EMKT ETF 46434G103 9,337 160,037 SH   SOLE   0 0 80
IShares ETF-Rus2000 ETF 464287655 62,844 413,900 SH   SOLE   0 0 80
i-shares U.S. REAL ES ETF ETF 464287739 438 5,800 SH   SOLE   0 0 80
i-shares U.S. REAL ES ETF CALL 464287909 312 3,800 SH Call SOLE   0 0 80
i-shares U.S. REAL ES ETF PUT 464287959 464 5,800 SH Put SOLE   0 0 80
SPDR S&P 500 ETF TR PUT 78462F953 1,545,299 6,168,700 SH Put SOLE   0 0 80
POWERSHARES QQQ TRUST ETF 73935A104 4,676 29,200 SH   SOLE   0 0 80
POWERSHARES QQQ TRUST PUT 73935A954 4,059 29,200 SH Put SOLE   0 0 80
iShares Trust - iShares 1-3 Year Treasury Bond ETF ETF 464287457 5,800 69,406 SH   SOLE   0 0 80
SPDR S&P 500 ETF TR TR UNIT 78462F103 544,558 1,928,802 SH   SOLE   0 0 80
SPDR S&P 500 ETF TR CALL 78462F903 9,281 31,500 SH Call SOLE   0 0 80
IShares ETF-20yr ETF 464287432 2,502 20,518 SH   SOLE   0 0 80
IShares ETF-20yr PUT 464287952 2,471 20,300 SH Put SOLE   0 0 80
Twitter Inc Company 90184L102 754 26,000 SH   SOLE   0 0 80
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 377,604 6,653,110 SH   SOLE   0 0 80
SELECT SECTOR SPDR TR SBI COMMUNICATIONS 81369Y852 45,944 982,330 SH   SOLE   0 0 80
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 372,684 5,542,063 SH   SOLE   0 0 80
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 322,928 11,809,224 SH   SOLE   0 0 80
SELECT SECTOR SPDR TR PUT 81369Y955 786 54,000 SH Put SOLE   0 0 80
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 391,668 5,265,906 SH   SOLE   0 0 80
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 407,027 6,134,009 SH   SOLE   0 0 80
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 370,479 6,983,255 SH   SOLE   0 0 80
SELECT SECTOR SPDR TR SBI INT-REALESTATE 81369Y860 66,047 2,083,241 SH   SOLE   0 0 80
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 386,970 7,532,142 SH   SOLE   0 0 80
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 389,386 4,719,686 SH   SOLE   0 0 80
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 405,724 3,953,415 SH   SOLE   0 0 80