Chief Executive Officer

0001615774-19-011186.txt : 20190813 0001615774-19-011186.hdr.sgml : 20190813 20190813144809 ACCESSION NUMBER: 0001615774-19-011186 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20190630 FILED AS OF DATE: 20190813 DATE AS OF CHANGE: 20190813 EFFECTIVENESS DATE: 20190813 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Newfound Research LLC CENTRAL INDEX KEY: 0001630806 IRS NUMBER: 263296223 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-17093 FILM NUMBER: 191019983 BUSINESS ADDRESS: STREET 1: 425 BOYLSTON STREET STREET 2: 3RD FL CITY: BOSTON STATE: MA ZIP: 02116 BUSINESS PHONE: 617-531-9773 MAIL ADDRESS: STREET 1: 425 BOYLSTON STREET STREET 2: 3RD FL CITY: BOSTON STATE: MA ZIP: 02116 13F-HR 1 primary_doc.xml 13F-HR LIVE false false false 0001630806 XXXXXXXX 06-30-2019 06-30-2019 false Newfound Research LLC

425 Boylston Street 3rd Fl Boston MA 02116

13F HOLDINGS REPORT 028-17093 Y The filing of this report shall not be deemed an admission, for purposes of Section 13(f), 13(d), 13(g), or 16(a) under the Securities Exchange Act of 1934, as amended, and the rules thereunder, or for any other purpose, that the Reporting Manager or any other person (including Other Managers or Other Included Managers named herein) is the beneficial owner of any securities. Newfound Research LLC, a Delaware limited liability company ("Newfound"), is an institutional investment manager which, for the purposes of Section 13(f) of the Securities Exchange Act of 1934 and the rules promulgated thereunder ("Section 13(f)"), exercises investment discretion with respect to certain securities positions. Thomas B. Rosedale, an individual ("Rosedale"), Corey M. Hoffstein, an individual ("Hoffstein"), Nathan Faber, an individual ("Faber"), Newfound Holdings, LLC, a Delaware limited liability company ("Holdings"), and Sand Hill Cove Management LLC, a Delaware limited liability company ("SandHill"), may each be deemed to exercise investment discretion over the securities reported on this Form 13F for purposes of Section 13(f). Certain of the security positions reported by Newfound are also being reported by Rosedale, Hoffstein, Faber, Holdings and SandHill. Each of Newfound, Rosedale, Hoffstein, Faber, Holdings and SandHill disclaims beneficial ownership of the shares reported on this Form 13F by Newfound except to the extent of any pecuniary interest therein. Thomas B. Rosedale Chief Executive Officer 617-531-9773 /s/ Thomas B. Rosedale Boston MA 08-13-2019 5 233 115680 1 0001256731 028-17094 Rosedale Thomas B. 2 0001630803 028-17095 Hoffstein Corey 3 0001776607 028-19511 Faber Nathan 4 0001664645 028-17097 Sand Hill Cove Management LLC 5 0001630807 028-17098 Newfound Holdings, LLC INFORMATION TABLE 2 infotable.xml iShares ISHARES GLOBAL FINANCIALS ET 464287333 5770 90034 SH OTR 1, 2, 3, 4, 5 90034 0 0 iShares ISHARES GLOBAL CONSUMER STAPLES ETF 464288737 5654 107429 SH OTR 1, 2, 3, 4, 5 107429 0 0 iShares ISHARES GLOBAL INDUSTRIALS E 464288729 5613 61292 SH OTR 1, 2, 3, 4, 5 61292 0 0 iShares ISHARES GLOBAL TELECOM ETF 464287275 5611 98022 SH OTR 1, 2, 3, 4, 5 98022 0 0 iShares ISHARES GLOBAL CONSUMER DISC 464288745 5529 46655 SH OTR 1, 2, 3, 4, 5 46655 0 0 iShares iShares Global Tech ETF 464287291 5504 30656 SH OTR 1, 2, 3, 4, 5 30656 0 0 iShares ISHARES GLOBAL UTILITIES ETF 464288711 5466 100147 SH OTR 1, 2, 3, 4, 5 100147 0 0 iShares ISHARES GLOBAL MATERIALS ETF 464288695 4135 63433 SH OTR 1, 2, 3, 4, 5 63433 0 0 SPDR SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 3758 136156 SH OTR 1, 2, 3, 4, 5 136156 0 0 SPDR INDUSTRIAL SELECT SECT SPDR 81369Y704 3701 47802 SH OTR 1, 2, 3, 4, 5 47802 0 0 SPDR SELECT SECTOR SPDRTR MATLS 81369Y100 3690 63073 SH OTR 1, 2, 3, 4, 5 63073 0 0 SPDR SELECT SECTOR SPDR COMM SVCS 81369Y852 3593 72998 SH OTR 1, 2, 3, 4, 5 72998 0 0 SPDR TECHNOLOGY SELECT SECT SPDR 81369Y803 3574 45797 SH OTR 1, 2, 3, 4, 5 45797 0 0 SPDR CONSUMER DISCRETIONARY SELT 81369Y407 3569 29940 SH OTR 1, 2, 3, 4, 5 29940 0 0 SPDR SECTOR SPDR TR SHS BEN INT UTILITIES 81369Y886 3569 59847 SH OTR 1, 2, 3, 4, 5 59847 0 0 SPDR CONSUMER STAPLES SPDR 81369Y308 3554 61203 SH OTR 1, 2, 3, 4, 5 61203 0 0 PowerShares POWERSHARES SENIOR LOAN 73936Q769 2729 120451 SH OTR 1, 2, 3, 4, 5 120451 0 0 SPDR SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 2618 28260 SH OTR 1, 2, 3, 4, 5 28260 0 0 iShares ISHARES IBOXX HI YD CP BD ETF 464288513 2244 25744 SH OTR 1, 2, 3, 4, 5 25744 0 0 Fidelity FIDELITY MSCI FINANCIALS INDEX ETF 316092501 2021 50402 SH OTR 1, 2, 3, 4, 5 50402 0 0 iShares ISHARES IBOXX $ INVEST GR CORP BD 464287242 2001 16086 SH OTR 1, 2, 3, 4, 5 16086 0 0 iShares ISHARES MORTGAGE REAL ESTATE 464288539 1996 47317 SH OTR 1, 2, 3, 4, 5 47317 0 0 Fidelity FIDELITY MSCI INDUSTRIALS INDEX ETF 316092709 1992 50115 SH OTR 1, 2, 3, 4, 5 50115 0 0 Fidelity FIDELITY MSCI MATERIALS INDEX ETF 316092881 1989 60639 SH OTR 1, 2, 3, 4, 5 60639 0 0 PowerShares POWERSHARES EM MKT SOVR DEBT 73936T573 1978 68128 SH OTR 1, 2, 3, 4, 5 68128 0 0 Fidelity FIDELITY MSCI TELECOM INDEX ETF 316092873 1933 58332 SH OTR 1, 2, 3, 4, 5 58332 0 0 Fidelity FIDELITY MSCI INFORMATION TECH INDEX ETF 316092808 1928 30954 SH OTR 1, 2, 3, 4, 5 30954 0 0 Fidelity FIDELITY MSCI UTILITIES INDEX ETF 316092865 1925 49019 SH OTR 1, 2, 3, 4, 5 49019 0 0 Fidelity FIDELITY MSCI CONSUMER DISCRETIONARY INDEX ETF 316092204 1921 42022 SH OTR 1, 2, 3, 4, 5 42022 0 0 Fidelity FIDELITY MSCI CONSUMER STAPLES INDEX ETF 316092303 1918 55157 SH OTR 1, 2, 3, 4, 5 55157 0 0 iShares ISHARES U.S. PREFERRED STOCK ETF 464288687 1682 45647 SH OTR 1, 2, 3, 4, 5 45647 0 0 Van Eck MARKET VECTORS EMERGING MARK 57060U522 1611 46428 SH OTR 1, 2, 3, 4, 5 46428 0 0 Fidelity FIDELITY MSCI HEALTH CARE INDEX ETF 316092600 1413 31389 SH OTR 1, 2, 3, 4, 5 31389 0 0 iShares ISHARES GLOBAL HEALTHCARE ET 464287325 1371 22221 SH OTR 1, 2, 3, 4, 5 22221 0 0 Vanguard VANGUARD GLBL EX-US REAL EST 922042676 940 15940 SH OTR 1, 2, 3, 4, 5 15940 0 0 SPDR SPDR BARCLAYS CONV SEC ETF 78464A359 869 16443 SH OTR 1, 2, 3, 4, 5 16443 0 0 Van Eck VANECK VECTORS PREFERRED SECURITIES EX FINANCIALS ETF 92189F429 861 43551 SH OTR 1, 2, 3, 4, 5 43551 0 0 SPDR SPDR BLOOMBERG BARCLAYS INTL TREASURY BOND ETF 78464A516 672 23249 SH OTR 1, 2, 3, 4, 5 23249 0 0 Vanguard VANGUARD REIT VIPER 922908553 653 7469 SH OTR 1, 2, 3, 4, 5 7469 0 0 iShares ISHARES 20+ YEAR TREASURY BO 464287432 651 4900 SH OTR 1, 2, 3, 4, 5 4900 0 0 iShares ISHARES INTERNATIONAL SELECT 464288448 636 20700 SH OTR 1, 2, 3, 4, 5 20700 0 0 JPMorgan JPMORGAN CHASE & CO ALERIAN ML ETF 46625H365 625 24895 SH OTR 1, 2, 3, 4, 5 24895 0 0 Vanguard VANGUARD HIGH DVD YIELD ETF 921946406 518 5928 SH OTR 1, 2, 3, 4, 5 5928 0 0 PowerShares POWERSHARES GLOBAL ETF FD S&P 500 BUYWRT 73936G308 353 16272 SH OTR 1, 2, 3, 4, 5 16272 0 0 iShares ISHARES CONVERTIBLE BOND ETF 46435G102 287 4824 SH OTR 1, 2, 3, 4, 5 4824 0 0 Recon Capital RECON CAPITAL NASDAQ 100 COVERED CALL ETF 75623U102 234 10282 SH OTR 1, 2, 3, 4, 5 10282 0 0 PowerShares PowerShares Variable Rate Preferred Portfolio 73937B597 220 8813 SH OTR 1, 2, 3, 4, 5 8813 0 0 Global X GLOBAL X MLP ETF 37950E473 207 23431 SH OTR 1, 2, 3, 4, 5 23431 0 0 iShares ISHARES 1-3 YR TRS BD ETF 464287457 33 388 SH OTR 1, 2, 3, 4, 5 388 0 0 PowerShares POWERSHARES S&P SC INFO TECH 73937B860 30 358 SH OTR 1, 2, 3, 4, 5 358 0 0 PowerShares POWERSHARES S&P SC FINANCIAL 73937B803 29 541 SH OTR 1, 2, 3, 4, 5 541 0 0 PowerShares POWERSHARES S&P SC INDUSTRIA 73937B878 22 337 SH OTR 1, 2, 3, 4, 5 337 0 0 JP Morgan JPMORGAN DIVERSIFIED RETURN U.S. EQUITY ETF 46641Q407 14 186 SH OTR 1, 2, 3, 4, 5 186 0 0 Van Eck MARKET VECTORS ETF TR 57060U878 12 190 SH OTR 1, 2, 3, 4, 5 190 0 0 iShares ISHARES EDGE MSCI USA VALUE ETF 46432F388 9 117 SH OTR 1, 2, 3, 4, 5 117 0 0 iShares ISHAES EDGE MSCI MULTIFACTOR USA ETF 46434V282 8 263 SH OTR 1, 2, 3, 4, 5 263 0 0 PROSHARES PROSHARES LARGE CAP CORE PLUS ETF 74347R248 8 118 SH OTR 1, 2, 3, 4, 5 118 0 0 iShares ISHARES MSCI USA MINIMUM VOL 46429B697 7 118 SH OTR 1, 2, 3, 4, 5 118 0 0 Vanguard VANGUARD LONG-TERM CORP BOND 92206C813 6 61 SH OTR 1, 2, 3, 4, 5 61 0 0 ProShares PROSHARES S&P500 ARISTOCRATS 74348A467 6 82 SH OTR 1, 2, 3, 4, 5 82 0 0 PROSHARES PROSHARES ULTRA S&P500 ETF 74347R107 6 44 SH OTR 1, 2, 3, 4, 5 44 0 0 PROSHARES PROSHARES UNLTRA 7-10 YR US TREASURY ETF 74347R180 5 87 SH OTR 1, 2, 3, 4, 5 87 0 0 Tyson Foods, Inc. EQUITY 902494103 5 66 SH OTR 1, 2, 3, 4, 5 66 0 0 Vanguard VANGUARD INTERMEDIATE-TERM GOVERNMENT BOND ETF 92206C706 5 79 SH OTR 1, 2, 3, 4, 5 79 0 0 Anthem, Inc. EQUITY 94973V107 5 18 SH OTR 1, 2, 3, 4, 5 18 0 0 GlobalX GLOBALX SCIENTIFIC BETA U.S. ETF 37954Y103 5 151 SH OTR 1, 2, 3, 4, 5 151 0 0 Guggenheim GUGGENHEIM S&P 500 EQUAL WEI 78355W106 5 46 SH OTR 1, 2, 3, 4, 5 46 0 0 iShares ISHARES MSCI USA MOMENTUM 46432F396 5 40 SH OTR 1, 2, 3, 4, 5 40 0 0 Exelon Corporation EQUITY 30161N101 5 95 SH OTR 1, 2, 3, 4, 5 95 0 0 BlackRock BLACKROCK MULTI-ASSET INCOME PORTFOLIO CLASS A 09256H351 5 419 SH OTR 1, 2, 3, 4, 5 419 0 0 PIMCO PIMCO INCOME FUND CLASS A 78464A516 5 373 SH OTR 1, 2, 3, 4, 5 373 0 0 Valero Energy Corporation EQUITY 91913Y100 4 51 SH OTR 1, 2, 3, 4, 5 51 0 0 Guggenheim GUGGENHEIM S&P 500 PURE VALU 78355W304 4 65 SH OTR 1, 2, 3, 4, 5 65 0 0 Newfound Research NEWFOUND MULTI-ASSET INCOME FUND CLASS A 66538G825 4 453 SH OTR 1, 2, 3, 4, 5 453 0 0 PIMCO PIMCO ETF TR 0-5 YR HIGH YIELD CORP 72201R783 4 39 SH OTR 1, 2, 3, 4, 5 39 0 0 HP Inc. EQUITY 40434L105 4 189 SH OTR 1, 2, 3, 4, 5 189 0 0 JP Morgan JPMORGAN DIVERSIFIED RETURN INTERNATIONAL EQUITY ETF 46641Q209 4 68 SH OTR 1, 2, 3, 4, 5 68 0 0 PowerShares POWERSHARES S&P SC HEALTH CA 73937B886 4 31 SH OTR 1, 2, 3, 4, 5 31 0 0 The Allstate Corporation EQUITY 020002101 4 35 SH OTR 1, 2, 3, 4, 5 35 0 0 Micron Technology, Inc. EQUITY 595112103 3 86 SH OTR 1, 2, 3, 4, 5 86 0 0 Newfound Research NEWFOUND RISK MANAGED GLOBAL SECTORS FUND CLASS A 66538G700 3 272 SH OTR 1, 2, 3, 4, 5 272 0 0 HCA HEALTHCARE INC EQUITY 40412C101 3 22 SH OTR 1, 2, 3, 4, 5 22 0 0 Archer-Daniels-Midland Company EQUITY 039483102 3 68 SH OTR 1, 2, 3, 4, 5 68 0 0 Vanguard VANGUARD TOTAL INTERNATIONAL BOND ETF 92203J407 3 46 SH OTR 1, 2, 3, 4, 5 46 0 0 Xerox Corporation EQUITY 984121103 3 73 SH OTR 1, 2, 3, 4, 5 73 0 0 Cummins Inc. EQUITY 231021106 3 15 SH OTR 1, 2, 3, 4, 5 15 0 0 Bank of America EQUITY 060505104 3 86 SH OTR 1, 2, 3, 4, 5 86 0 0 Discover Financial Services EQUITY 254709108 2 32 SH OTR 1, 2, 3, 4, 5 32 0 0 Aflac Incorporated EQUITY 001055102 2 45 SH OTR 1, 2, 3, 4, 5 45 0 0 Cigna Corp. EQUITY 125509109 2 15 SH OTR 1, 2, 3, 4, 5 15 0 0 Goldman Sachs GOLDMAN SACHS ACTIVEBETA EMERGING MARKETS EQUITY ETF 381430206 2 70 SH OTR 1, 2, 3, 4, 5 70 0 0 iShares ISHARES GOLD TRUST ETF 464285105 2 161 SH OTR 1, 2, 3, 4, 5 161 0 0 Intel Corp EQUITY 458140100 2 45 SH OTR 1, 2, 3, 4, 5 45 0 0 Lam Research Corporation EQUITY 512807108 2 11 SH OTR 1, 2, 3, 4, 5 11 0 0 Ameriprise Financial, Inc. EQUITY 03076C106 2 15 SH OTR 1, 2, 3, 4, 5 15 0 0 Best Buy Co., Inc. EQUITY 086516101 2 30 SH OTR 1, 2, 3, 4, 5 30 0 0 Target Corp. EQUITY 87612E106 2 24 SH OTR 1, 2, 3, 4, 5 24 0 0 LyondellBasell Industries EQUITY N57345100 2 22 SH OTR 1, 2, 3, 4, 5 22 0 0 Marathon Petroleum Corporation EQUITY 56585A102 2 34 SH OTR 1, 2, 3, 4, 5 34 0 0 FIFTH THIRD BANCORP EQUITY 316773100 2 61 SH OTR 1, 2, 3, 4, 5 61 0 0 iShares ISHARES CORE US AGGREGATE BOND ETF 464287226 2 15 SH OTR 1, 2, 3, 4, 5 15 0 0 DARDEN RESTAURANTS INC EQUITY 237194105 2 14 SH OTR 1, 2, 3, 4, 5 14 0 0 Quest Diagnostics Inc. EQUITY 74834L100 2 16 SH OTR 1, 2, 3, 4, 5 16 0 0 PowerShares POWERSHARES OPTIMUM YIELD DIVERSIFIED COMMODITY INDEX ETF 73937V106 2 92 SH OTR 1, 2, 3, 4, 5 92 0 0 H&R Block EQUITY 093671105 1 51 SH OTR 1, 2, 3, 4, 5 51 0 0 WisdomTree WISDOMTREE CARCLAYS YIELD ENHANCED US AGGREGATE BOND ETF 97717X511 1 29 SH OTR 1, 2, 3, 4, 5 29 0 0 GILEAD SCIENCES INC EQUITY 375558103 1 22 SH OTR 1, 2, 3, 4, 5 22 0 0 INTERNATIONAL BUSINESS MACHINES EQUITY 459200101 1 10 SH OTR 1, 2, 3, 4, 5 10 0 0 Eaton Corporation plc EQUITY G29183103 1 17 SH OTR 1, 2, 3, 4, 5 17 0 0 JP Morgan JP MORGAN SYSTEMATIC ALPHA FUND CLASS A 46637K620 1 95 SH OTR 1, 2, 3, 4, 5 95 0 0 UnitedHealth Group Incorporated EQUITY 91324P102 1 5 SH OTR 1, 2, 3, 4, 5 5 0 0 Kohl's Corp. EQUITY 500255104 1 27 SH OTR 1, 2, 3, 4, 5 27 0 0 Foot Locker, Inc. EQUITY 344849104 1 30 SH OTR 1, 2, 3, 4, 5 30 0 0 Southwest Airlines Co. EQUITY 844741108 1 25 SH OTR 1, 2, 3, 4, 5 25 0 0 Citigroup Inc. EQUITY 172967424 1 18 SH OTR 1, 2, 3, 4, 5 18 0 0 Entergy Corporation EQUITY 29364G103 1 11 SH OTR 1, 2, 3, 4, 5 11 0 0 Capital One Financial Corporation EQUITY 14040H105 1 13 SH OTR 1, 2, 3, 4, 5 13 0 0 TERADATA CORPORATION EQUITY 88076W103 1 32 SH OTR 1, 2, 3, 4, 5 32 0 0 Eastman Chemical Co. EQUITY 277432100 1 15 SH OTR 1, 2, 3, 4, 5 15 0 0 WESTERN UNION COMPANY EQUITY 959802109 1 56 SH OTR 1, 2, 3, 4, 5 56 0 0 Delta Air Lines, Inc. EQUITY 247361702 1 19 SH OTR 1, 2, 3, 4, 5 19 0 0 PACCAR INC EQUITY 693718108 1 15 SH OTR 1, 2, 3, 4, 5 15 0 0 The Goldman Sachs Group, Inc. EQUITY 38141G104 1 5 SH OTR 1, 2, 3, 4, 5 5 0 0 Robert Half Intl, Inc. EQUITY 770323103 1 19 SH OTR 1, 2, 3, 4, 5 19 0 0 SUNTRUST BANKS INC EQUITY 867914889 1 17 SH OTR 1, 2, 3, 4, 5 17 0 0 The Kroger Co. EQUITY 501044101 1 48 SH OTR 1, 2, 3, 4, 5 48 0 0 PulteGroup, Inc. EQUITY 745867101 1 32 SH OTR 1, 2, 3, 4, 5 32 0 0 KEYCORP EQUITY 493267108 1 57 SH OTR 1, 2, 3, 4, 5 57 0 0 Viacom, Inc. EQUITY 92553P201 1 34 SH OTR 1, 2, 3, 4, 5 34 0 0 FlexShares FLEXSHARES CREDIT-SCORED US CORPORATE BOND INDEX ETF 33939L761 1 19 SH OTR 1, 2, 3, 4, 5 19 0 0 REPUBLIC SERVICES INC EQUITY 760759100 1 11 SH OTR 1, 2, 3, 4, 5 11 0 0 Nucor Corporation EQUITY 670346105 1 17 SH OTR 1, 2, 3, 4, 5 17 0 0 ST JUDE MEDICAL INC EQUITY 832696405 1 8 SH OTR 1, 2, 3, 4, 5 8 0 0 Western Digital Corporation EQUITY 958102105 1 20 SH OTR 1, 2, 3, 4, 5 20 0 0 CVS Health Corporation EQUITY 126650100 1 16 SH OTR 1, 2, 3, 4, 5 16 0 0 JP Morgan JP MORGAN INCOME BUILDER CLASS A 4812A3288 1 79 SH OTR 1, 2, 3, 4, 5 79 0 0 CREDIT SUISSE CREDIT SUISSE MANAGED FUTURES STRATEGY FUND CLASS A 22540S737 1 80 SH OTR 1, 2, 3, 4, 5 80 0 0 HOLLYFRONTIER CORPORATION EQUITY 436106108 1 17 SH OTR 1, 2, 3, 4, 5 17 0 0 Juniper Networks Inc EQUITY 48203R104 1 29 SH OTR 1, 2, 3, 4, 5 29 0 0 Phillips 66 EQUITY 718546104 1 8 SH OTR 1, 2, 3, 4, 5 8 0 0 AT&T EQUITY 00206R102 1 23 SH OTR 1, 2, 3, 4, 5 23 0 0 iShares ISHARES BARCLAYS TIPS BOND ETF 464287176 1 6 SH OTR 1, 2, 3, 4, 5 6 0 0 The Travelers Companies, Inc. EQUITY 89417E109 1 5 SH OTR 1, 2, 3, 4, 5 5 0 0 FIRST SOLAR INC EQUITY 336433107 1 11 SH OTR 1, 2, 3, 4, 5 11 0 0 Longboard LONGBOARD MANAGED FUTURES STRATEGY FUND CLASS A 66538A430 1 76 SH OTR 1, 2, 3, 4, 5 76 0 0 UNIVERSAL HEALTH SERVICES INC EQUITY 913903100 1 5 SH OTR 1, 2, 3, 4, 5 5 0 0 COGNIZANT TECH SOLUTIONS EQUITY 192446102 1 10 SH OTR 1, 2, 3, 4, 5 10 0 0 L-3 Communications Holdings Inc. EQUITY 502424104 1 3 SH OTR 1, 2, 3, 4, 5 3 0 0 United Continental Holdings, Inc. EQUITY 910047109 1 7 SH OTR 1, 2, 3, 4, 5 7 0 0 AlphaCentric ALPHACENTRIC INCOME OPPORTUNITIES FUND CLASS A 62827M169 1 48 SH OTR 1, 2, 3, 4, 5 48 0 0 Michael Kors Holdings Ltd. EQUITY G1890L107 1 17 SH OTR 1, 2, 3, 4, 5 17 0 0 DR Horton Inc. EQUITY 23331A109 1 14 SH OTR 1, 2, 3, 4, 5 14 0 0 EDISON INTERNATIONAL EQUITY 281020107 1 9 SH OTR 1, 2, 3, 4, 5 9 0 0 MYLAN NV EQUITY N59465109 1 30 SH OTR 1, 2, 3, 4, 5 30 0 0 Arbitrage Funds THE ARBITRAGE FUND CLASS R 03875R106 1 44 SH OTR 1, 2, 3, 4, 5 44 0 0 Humana Inc. EQUITY 444859102 1 2 SH OTR 1, 2, 3, 4, 5 2 0 0 Macy's, Inc. EQUITY 55616P104 1 24 SH OTR 1, 2, 3, 4, 5 24 0 0 Nielsen NV EQUITY G6518L108 1 23 SH OTR 1, 2, 3, 4, 5 23 0 0 SNAP ON INC EQUITY 833034101 1 3 SH OTR 1, 2, 3, 4, 5 3 0 0 General Motors Company EQUITY 37045V100 1 13 SH OTR 1, 2, 3, 4, 5 13 0 0 FRANKLIN RES CORP EQUITY 913903100 0 13 SH OTR 1, 2, 3, 4, 5 13 0 0 Unum Group EQUITY 91529Y106 0 13 SH OTR 1, 2, 3, 4, 5 13 0 0 ALLIANCE DATA SYSTEMS CORP EQUITY 018581108 0 3 SH OTR 1, 2, 3, 4, 5 3 0 0 Ford Motor Co. EQUITY 345370860 0 42 SH OTR 1, 2, 3, 4, 5 42 0 0 TRANSOCEAN LTD EQUITY H8817H100 0 66 SH OTR 1, 2, 3, 4, 5 66 0 0 EXXON MOBIL CORP EQUITY 30231G102 0 5 SH OTR 1, 2, 3, 4, 5 5 0 0 United Rentals, Inc. EQUITY 911363109 0 3 SH OTR 1, 2, 3, 4, 5 3 0 0 International Paper Company EQUITY 460146103 0 9 SH OTR 1, 2, 3, 4, 5 9 0 0 AMERICAN EXPRESS CO EQUITY 025816109 0 3 SH OTR 1, 2, 3, 4, 5 3 0 0 The Goodyear Tire & Rubber Company EQUITY 382550101 0 23 SH OTR 1, 2, 3, 4, 5 23 0 0 Prudential Financial, Inc. EQUITY 744320102 0 3 SH OTR 1, 2, 3, 4, 5 3 0 0 Laboratory Corp. of America Holdings EQUITY 50540R409 0 2 SH OTR 1, 2, 3, 4, 5 2 0 0 COMCAST CORP EQUITY V7780T103 0 8 SH OTR 1, 2, 3, 4, 5 8 0 0 CARNIVAL CORP EQUITY 143658300 0 7 SH OTR 1, 2, 3, 4, 5 7 0 0 FlexShares FLEXSHARES QUALITY DIVIDEND INDEX ETF 33939L860 0 8 SH OTR 1, 2, 3, 4, 5 8 0 0 JEFFERIES GROUP INC EQUITY 472319102 0 18 SH OTR 1, 2, 3, 4, 5 18 0 0 The Gap, Inc. EQUITY 364760108 0 18 SH OTR 1, 2, 3, 4, 5 18 0 0 NRG Energy EQUITY 629377508 0 9 SH OTR 1, 2, 3, 4, 5 9 0 0 Dish Network Corp. EQUITY 25470M109 0 8 SH OTR 1, 2, 3, 4, 5 8 0 0 INTERPUBLIC GROUP COS INC EQUITY 460690100 0 13 SH OTR 1, 2, 3, 4, 5 13 0 0 PG&E Corporation EQUITY 69331C108 0 13 SH OTR 1, 2, 3, 4, 5 13 0 0 PVH Corp. EQUITY 693656100 0 3 SH OTR 1, 2, 3, 4, 5 3 0 0 CONSOLIDATED EDISON INC EQUITY 209115104 0 3 SH OTR 1, 2, 3, 4, 5 3 0 0 McKesson Corporation EQUITY 58155Q103 0 2 SH OTR 1, 2, 3, 4, 5 2 0 0 Kimberly-Clark Corp. EQUITY 494368103 0 2 SH OTR 1, 2, 3, 4, 5 2 0 0 Cardinal Health, Inc. EQUITY 14149Y108 0 5 SH OTR 1, 2, 3, 4, 5 5 0 0 Urban Outfitters, Inc. EQUITY 917047102 0 11 SH OTR 1, 2, 3, 4, 5 11 0 0 Chevron EQUITY 166764100 0 2 SH OTR 1, 2, 3, 4, 5 2 0 0 WELLS FARGO & CO EQUITY 949746101 0 5 SH OTR 1, 2, 3, 4, 5 5 0 0 FlexShares FLEXSHARES CREDIT-SCORED US LONG CORPORATE BOND INDEX ETF 33939L753 0 4 SH OTR 1, 2, 3, 4, 5 4 0 0 Molson Coors Brewing Co EQUITY 60871R209 0 4 SH OTR 1, 2, 3, 4, 5 4 0 0 Lincoln National Corporation EQUITY 534187109 0 3 SH OTR 1, 2, 3, 4, 5 3 0 0 Vanguard VANGUARD INTERNATIONAL HIGH DIVIDEND YIELD ETF 921946794 0 3 SH OTR 1, 2, 3, 4, 5 3 0 0 Discovery Communications, Inc. EQUITY 25470F104 0 7 SH OTR 1, 2, 3, 4, 5 7 0 0 BANK OF NEW YORK MELLON EQUITY 064058100 0 4 SH OTR 1, 2, 3, 4, 5 4 0 0 Principal Financial Group Inc. EQUITY 74251V102 0 3 SH OTR 1, 2, 3, 4, 5 3 0 0 Raymond James Financial EQUITY 754730109 0 2 SH OTR 1, 2, 3, 4, 5 2 0 0 American Airlines Group Inc. EQUITY 02376R102 0 5 SH OTR 1, 2, 3, 4, 5 5 0 0 FedEx Corporation EQUITY 31428X106 0 1 SH OTR 1, 2, 3, 4, 5 1 0 0 Textron Inc. EQUITY 883203101 0 3 SH OTR 1, 2, 3, 4, 5 3 0 0 FlexShares FLEXSHARES INTERNATIONAL QUALITY DIVIDEND INDEX ETF 33939L837 0 7 SH OTR 1, 2, 3, 4, 5 7 0 0 Quanta Services, Inc. EQUITY 74762E102 0 4 SH OTR 1, 2, 3, 4, 5 4 0 0 Citizens Financial Group, Inc EQUITY 174610204 0 4 SH OTR 1, 2, 3, 4, 5 4 0 0 Seagate Technology Public Limited Company EQUITY G7945M107 0 3 SH OTR 1, 2, 3, 4, 5 3 0 0 Applied Materials Inc EQUITY 038222105 0 3 SH OTR 1, 2, 3, 4, 5 3 0 0 Alask Air Group Inc. EQUITY 011659109 0 2 SH OTR 1, 2, 3, 4, 5 2 0 0 ROYAL CARIBBEAN CRUISES LTD EQUITY V7780T103 0 1 SH OTR 1, 2, 3, 4, 5 1 0 0 Bed Bath & Beyond Inc. EQUITY 075896100 0 11 SH OTR 1, 2, 3, 4, 5 11 0 0 Ralph Lauren Corp. EQUITY 751212101 0 1 SH OTR 1, 2, 3, 4, 5 1 0 0 Ryder System, Inc. 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