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 EEM 464287234 5,772 118,150 SH   SOLE   0 0 118,150
iShares MSCI Emerging Markets Indx ETF EEM Call 464287904 292 5,300 SH Call SOLE   0 0 5,300
iShares MSCI Emerging Markets Indx ETF EEM Put 464287954 38,520 836,900 SH Put SOLE   0 0 836,900
iShares MSCI EAFE ETF EFA 464287465 33,395 424,446 SH   SOLE   0 0 424,446
iShares MSCI EAFE ETF EFA Call 464287905 442 5,200 SH Call SOLE   0 0 5,200
iShares MSCI EAFE ETF EFA Put 464287955 38,088 531,400 SH Put SOLE   0 0 531,400
SPDR Gold Trust GLD 78463V107 7,334 42,900 SH   SOLE   0 0 42,900
SPDR Gold Trust GLD Call 78463V907 4,484 23,600 SH Call SOLE   0 0 23,600
SPDR Gold Trust GLD Put 78463V957 7,078 42,900 SH Put SOLE   0 0 42,900
ishares ETF - CORE MSCI EMKT IEMG 46434G103 27,206 454,500 SH   SOLE   0 0 454,500
IShares ETF-Rus2000 IWM 464287655 40,642 182,700 SH   SOLE   0 0 182,700
IShares ETF-Rus2000 IWM Put 464287955 374 1,700 SH Put SOLE   0 0 1,700
POWERSHARES QQQ TRUST QQQ 73935A104 331 1,134 SH   SOLE   0 0 1,134
SPDR S&P 500 ETF TR SPY 78462F103 479,300 1,009,138 SH   SOLE   0 0 1,009,138
SPDR S&P 500 ETF TR SPY Call 78462F903 158,830 309,600 SH Call SOLE   0 0 309,600
SPDR S&P 500 ETF TR SPY Put 78462F953 2,027,344 4,906,600 SH Put SOLE   0 0 4,906,600
IShares ETF-20yr TLT 464287432 1,704 11,500 SH   SOLE   0 0 11,500
IShares ETF-20yr TLT Put 464287952 1,668 11,500 SH Put SOLE   0 0 11,500
SELECT SECTOR SPDR TR XLB 81369Y100 30,419 335,711 SH   SOLE   0 0 335,711
SELECT SECTOR SPDR TR XLC 81369Y852 121,502 1,564,140 SH   SOLE   0 0 1,564,140
SELECT SECTOR SPDR TR XLE 81369Y506 31,463 566,903 SH   SOLE   0 0 566,903
SELECT SECTOR SPDR TR XLF 81369Y605 127,199 3,257,329 SH   SOLE   0 0 3,257,329
SELECT SECTOR SPDR TR XLF Put 81369Y955 324 18,000 SH Put SOLE   0 0 18,000
SELECT SECTOR SPDR TR XLI 81369Y704 93,950 887,913 SH   SOLE   0 0 887,913
SELECT SECTOR SPDR TR XLK 81369Y803 345,146 1,985,079 SH   SOLE   0 0 1,985,079
SELECT SECTOR SPDR TR XLP 81369Y308 69,627 902,959 SH   SOLE   0 0 902,959
SELECT SECTOR SPDR TR XLRE 81369Y860 32,630 629,799 SH   SOLE   0 0 629,799
SELECT SECTOR SPDR TR XLU 81369Y886 29,451 411,441 SH   SOLE   0 0 411,441
SELECT SECTOR SPDR TR XLV 81369Y209 157,255 1,116,156 SH   SOLE   0 0 1,116,156
SELECT SECTOR SPDR TR XLY 81369Y407 149,793 732,697 SH   SOLE   0 0 732,697