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
ETF MANAGERS TR ETFMG ALTR HRVST 26924G508 1,589 43,700 SH   SOLE   43,700 0 0
INVESCO EXCHNG TRADED FD TR SOLAR ETF 46138G706 662 28,600 SH   SOLE   28,600 0 0
INVESCO EXCHNG TRADED FD TR SR LN ETF 46138G508 7,470 329,950 SH   SOLE   329,950 0 0
ISHARES INC MSCI THAILND ETF 464286624 492 5,566 SH   SOLE   5,566 0 0
ISHARES TR IBOXX HI YD ETF 464288513 15,794 182,650 SH   SOLE   182,650 0 0
ISHARES TR IBOXX INV CP ETF 464287242 18,323 153,900 SH   SOLE   153,900 0 0
ISHARES TR MBS ETF 464288588 15,276 143,623 SH   SOLE   143,623 0 0
ISHARES TR NATIONAL MUN ETF 464288414 14,933 134,300 SH   SOLE   134,300 0 0
ISHARES TR S&P 500 GRWT ETF 464287309 8,749 50,761 SH   SOLE   50,761 0 0
ISHARES TR S&P 500 VAL ETF 464287408 4,845 42,973 SH   SOLE   42,973 0 0
ISHARES TR SELECT DIVID ETF 464287168 1,408 14,337 SH   SOLE   14,337 0 0
ISHARES TR TIPS BD ETF 464287176 3,890 34,400 SH   SOLE   34,400 0 0
ISHARES TR TRANS AVG ETF 464287192 306 1,632 SH   SOLE   1,632 0 0
ISHARES TR U.S. REAL ES ETF 464287739 22,996 264,200 SH   SOLE   264,200 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 4,486 39,400 SH   SOLE   39,400 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 22,831 406,900 SH   SOLE   406,900 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 14,221 155,000 SH   SOLE   155,000 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 1,058 14,100 SH   SOLE   14,100 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 28,876 496,400 SH   SOLE   496,400 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 9,864 133,300 SH   SOLE   133,300 0 0
SPDR INDEX SHS FDS DJ INTL RL ETF 78463X863 554 14,100 SH   SOLE   14,100 0 0
SPDR SERIES TRUST BLOOMBERG BRCLYS 78464A417 16,179 449,800 SH   SOLE   449,800 0 0
VANGUARD MALVERN FDS STRM INFPROIDX 922020805 2,660 54,648 SH   SOLE   54,648 0 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 15,841 198,604 SH   SOLE   198,604 0 0