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 13,178 293,700 SH   SOLE   0 0 293,700
iShares MSCI Emerging Markets Indx ETF CALL 464287904 10,825 216,500 SH Call SOLE   0 0 216,500
iShares MSCI Emerging Markets Indx ETF PUT 464287954 37,747 885,400 SH Put SOLE   0 0 885,400
iShares MSCI EAFE ETF ETF 464287465 48,386 696,810 SH   SOLE   0 0 696,810
iShares MSCI EAFE ETF CALL 464287905 4,979 68,200 SH Call SOLE   0 0 68,200
iShares MSCI EAFE ETF PUT 464287955 55,670 819,500 SH Put SOLE   0 0 819,500
SPDR Gold Trust ETF 78463V107 7,440 52,067 SH   SOLE   0 0 52,067
SPDR Gold Trust CALL 78463V907 3,861 25,400 SH Call SOLE   0 0 25,400
SPDR Gold Trust PUT 78463V957 10,541 77,000 SH Put SOLE   0 0 77,000
ISHARES TR - 3-7 YR TREAS BD ETF ETF 464288661 544 4,324 SH   SOLE   0 0 4,324
ishares ETF - CORE MSCI EMKT ETF 46434G103 26,379 490,680 SH   SOLE   0 0 490,680
IShares ETF-Rus2000 ETF 464287655 49,126 296,531 SH   SOLE   0 0 296,531
IShares ETF-Rus2000 PUT 464287955 495 3,000 SH Put SOLE   0 0 3,000
i-shares U.S. REAL ES ETF ETF 464287739 233 2,500 SH   SOLE   0 0 2,500
i-shares U.S. REAL ES ETF PUT 464287959 222 2,500 SH Put SOLE   0 0 2,500
POWERSHARES QQQ TRUST ETF 73935A104 1,956 9,200 SH   SOLE   0 0 9,200
POWERSHARES QQQ TRUST CALL 73935A904 2,208 9,200 SH Call SOLE   0 0 9,200
POWERSHARES QQQ TRUST PUT 73935A954 1,702 9,200 SH Put SOLE   0 0 9,200
iShares Trust - iShares 1-3 Year Treasury Bond ETF ETF 464287457 558 6,599 SH   SOLE   0 0 6,599
SPDR S&P 500 ETF TR TR UNIT 78462F103 469,734 1,459,435 SH   SOLE   0 0 1,459,435
SPDR S&P 500 ETF TR CALL 78462F903 220,041 629,600 SH Call SOLE   0 0 629,600
SPDR S&P 500 ETF TR PUT 78462F953 1,589,503 5,444,500 SH Put SOLE   0 0 5,444,500
IShares ETF-20yr ETF 464287432 2,763 20,395 SH   SOLE   0 0 20,395
IShares ETF-20yr PUT 464287952 2,690 20,300 SH Put SOLE   0 0 20,300
Twitter Inc Company 90184L102 833 26,000 SH   SOLE   0 0 26,000
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 212,756 3,463,963 SH   SOLE   0 0 3,463,963
SELECT SECTOR SPDR TR SBI COMMUNICATIONS 81369Y852 212,701 3,966,079 SH   SOLE   0 0 3,966,079
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 199,372 3,320,662 SH   SOLE   0 0 3,320,662
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 173,836 5,647,684 SH   SOLE   0 0 5,647,684
SELECT SECTOR SPDR TR PUT 81369Y955 744 48,000 SH Put SOLE   0 0 48,000
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 211,507 2,596,136 SH   SOLE   0 0 2,596,136
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 221,282 2,413,899 SH   SOLE   0 0 2,413,899
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 201,058 3,192,404 SH   SOLE   0 0 3,192,404
SELECT SECTOR SPDR TR SBI INT-REALESTATE 81369Y860 40,191 1,039,338 SH   SOLE   0 0 1,039,338
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 199,298 3,084,149 SH   SOLE   0 0 3,084,149
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 213,982 2,100,744 SH   SOLE   0 0 2,100,744
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 210,717 1,680,089 SH   SOLE   0 0 1,680,089