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
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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
INVESCO EXCHNG TRADED FD TR SR LN ETF 46138G508 7,533 332,450 SH   SOLE   332,450 0 0
INVESCO EXCHNG TRADED FD TR SOLAR ETF 46138G706 2,215 78,340 SH   SOLE   78,340 0 0
ISHARES INC MSCI THAILND ETF 464286624 1,306 13,666 SH   SOLE   13,666 0 0
ISHARES TR SELECT DIVID ETF 464287168 2,224 22,337 SH   SOLE   22,337 0 0
ISHARES TR TIPS BD ETF 464287176 4,677 40,500 SH   SOLE   40,500 0 0
ISHARES TR TRANS AVG ETF 464287192 495 2,632 SH   SOLE   2,632 0 0
ISHARES TR IBOXX INV CP ETF 464287242 14,240 114,500 SH   SOLE   114,500 0 0
ISHARES TR S&P 500 GRWT ETF 464287309 8,758 48,861 SH   SOLE   48,861 0 0
ISHARES TR S&P 500 VAL ETF 464287408 6,676 57,273 SH   SOLE   57,273 0 0
ISHARES TR U.S. REAL ES ETF 464287739 13,053 149,500 SH   SOLE   149,500 0 0
ISHARES TR NATIONAL MUN ETF 464288414 10,076 89,100 SH   SOLE   89,100 0 0
ISHARES TR IBOXX HI YD ETF 464288513 10,588 121,450 SH   SOLE   121,450 0 0
ISHARES TR MBS ETF 464288588 12,678 117,823 SH   SOLE   117,823 0 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 503 8,600 SH   SOLE   8,600 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 14,761 254,200 SH   SOLE   254,200 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 10,823 90,800 SH   SOLE   90,800 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 13,150 168,500 SH   SOLE   168,500 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 20,167 338,200 SH   SOLE   338,200 0 0
SPDR INDEX SHS FDS DJ INTL RL ETF 78463X863 1,701 43,900 SH   SOLE   43,900 0 0
SPDR SERIES TRUST BLOOMBERG BRCLYS 78468R622 10,662 97,866 SH   SOLE   97,866 0 0
VANECK VECTORS ETF TR VIETNAM ETF 92189F817 250 15,578 SH   SOLE   15,578 0 0
VANGUARD MALVERN FDS STRM INFPROIDX 922020805 3,312 67,148 SH   SOLE   67,148 0 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 7,972 98,804 SH   SOLE   98,804 0 0