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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
iShares MSCI Emerging Markets Indx ETF EEM Put 464287954   24,612,000 615,300 SH Put SOLE   0 0 615,300
ishares ETF - CORE MSCI EMKT IEMG 46434G103   24,609,547 486,547 SH   SOLE   0 0 486,547
iShares MSCI EAFE ETF EFA 464287465   25,950,540 344,400 SH   SOLE   0 0 344,400
iShares MSCI EAFE ETF EFA Put 464287955   25,999,000 347,000 SH Put SOLE   0 0 347,000
ISHARES TR IVV 464287200   367,433,117 769,284 SH   SOLE   0 0 769,284
SELECT SECTOR SPDR TR XLC 81369Y852   49,600,840 682,643 SH   SOLE   0 0 682,643
SELECT SECTOR SPDR TR XLE 81369Y506   22,426,278 267,489 SH   SOLE   0 0 267,489
SELECT SECTOR SPDR TR XLF 81369Y605   74,692,024 1,986,490 SH   SOLE   0 0 1,986,490
SELECT SECTOR SPDR TR XLI 81369Y704   50,849,001 446,083 SH   SOLE   0 0 446,083
SELECT SECTOR SPDR TR XLK 81369Y803   166,315,231 864,065 SH   SOLE   0 0 864,065
SELECT SECTOR SPDR TR XLP 81369Y308   35,540,754 493,416 SH   SOLE   0 0 493,416
SELECT SECTOR SPDR TR XLRE 81369Y860   14,549,351 363,189 SH   SOLE   0 0 363,189
SELECT SECTOR SPDR TR XLU 81369Y886   13,487,897 212,978 SH   SOLE   0 0 212,978
SELECT SECTOR SPDR TR XLV 81369Y209   72,871,107 534,324 SH   SOLE   0 0 534,324
SELECT SECTOR SPDR TR XLY 81369Y407   62,580,997 349,986 SH   SOLE   0 0 349,986
SELECT SECTOR SPDR TR XLB 81369Y100   13,897,769 162,471 SH   SOLE   0 0 162,471
IShares ETF-Rus2000 IWM 464287655   29,714,513 148,047 SH   SOLE   0 0 148,047
LISTED FD TR HEGD 53656F599   59,547,185 3,050,573 SH   SOLE   0 0 3,050,573
IShares ETF-20yr TLT Put 464287952   1,030,000 10,300 SH Put SOLE   0 0 10,300
IShares ETF-20yr TLT 464287432   1,018,464 10,300 SH   SOLE   0 0 10,300
SPDR S&P 500 ETF TR SPY Put 78462F953   1,084,292,835 2,445,500 SH Put SOLE   0 0 2,445,500
SPDR S&P 500 ETF TR SPY Call 78462F903   22,209,847 712,300 SH Call SOLE   0 0 712,300
SPDR S&P 500 ETF TR SPY 78462F103   604,384,233 1,271,558 SH   SOLE   0 0 1,271,558
SPDR Gold Trust GLD Put 78463V957   3,496,800 18,600 SH Put SOLE   0 0 18,600
SPDR Gold Trust GLD 78463V107   3,555,762 18,600 SH   SOLE   0 0 18,600
APPLE INC AAPL Put 037833950   1,504,000 9,400 SH Put SOLE   0 0 9,400
PACER FDS TR PSCQ 69374H527   6,040,758 250,446 SH   SOLE   0 0 250,446
PACER FDS TR PSFO 69374H451   11,456,943 442,353 SH   SOLE   0 0 442,353
PACER FDS TR PSMO 69374H485   31,196,106 1,236,959 SH   SOLE   0 0 1,236,959
PACER FDS TR PSCW 69374H543   8,725,637 376,592 SH   SOLE   0 0 376,592
PACER FDS TR PSMJ 69374H493   36,851,526 1,478,200 SH   SOLE   0 0 1,478,200
PACER FDS TR PSCJ 69374H535   9,098,669 391,509 SH   SOLE   0 0 391,509
PACER FDS TR PSFJ 69374H469   15,189,763 604,688 SH   SOLE   0 0 604,688
PACER FDS TR PSFM 69374H477   14,144,421 544,435 SH   SOLE   0 0 544,435
PACER FDS TR PSMR 69374H519   29,265,003 1,173,887 SH   SOLE   0 0 1,173,887
PACER FDS TR PSCX 69374H584   8,582,546 351,168 SH   SOLE   0 0 351,168
PACER FDS TR PSFD 69374H576   14,361,017 497,093 SH   SOLE   0 0 497,093
PACER FDS TR PSMD 69374H550   34,735,900 1,344,789 SH   SOLE   0 0 1,344,789
CHENIERE ENERGY INC LNG Call 16411R908   2,856,000 13,600 SH Call SOLE   0 0 13,600
CHENIERE ENERGY INC LNG Put 16411R958   1,632,000 13,600 SH Put SOLE   0 0 13,600
EXXON MOBIL CORP XOM Put 30231G952   1,510,500 15,900 SH Put SOLE   0 0 15,900
UNITEDHEALTH GROUP INC UNH Put 91324P952   720,000 1,500 SH Put SOLE   0 0 1,500