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
Xtrackers Harvest CSI 300 China A-Shares ETF COM 233051879   15,579 710,400 SH   SOLE   710,400 0 0
iShares Russell Mid-Cap Value ETF COM 464287473   18,080 236,800 SH   SOLE   236,800 0 0
iShares North American Tech-Software ETF COM 464287515   10,273 59,200 SH   SOLE   59,200 0 0
iShares Nasdaq Biotechnology ETF COM 464287556   17,126 177,600 SH   SOLE   177,600 0 0
SPDR S&P Bank ETF COM 78464A797   34,272 917,600 SH   SOLE   917,600 0 0
SPDR S&P Biotech ETF COM 78464A870   19,114 266,400 SH   SOLE   266,400 0 0
Health Care Select Sector SPDR Fund COM 81369Y209   61,457 710,400 SH   SOLE   710,400 0 0
Financial Select Sector SPDR Fund COM 81369Y605   52,880 2,220,000 SH   SOLE   2,220,000 0 0
Technology Select Sector SPDR Fund COM 81369Y803   71,550 1,154,400 SH   SOLE   1,154,400 0 0
Vanguard FTSE Emerging Markets ETF COM 922042858   22,555 592,000 SH   SOLE   592,000 0 0
Vanguard Consumer Staples ETF COM 92204A207   34,944 266,400 SH   SOLE   266,400 0 0