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 Russell Mid-Cap Value ETF COM 464287473   25,116 280,000 SH   SOLE   1,148,850 0 0
iShares Nasdaq Biotechnology ETF COM 464287556   11,492 115,500 SH   SOLE   266,400 0 0
iShares U.S. Home Construction ETF COM 464288752   30,772 710,500 SH   SOLE   199,800 0 0
iShares Edge MSCI USA Value Factor ETF COM 46432F388   20,100 245,000 SH   SOLE   675,990 0 0
SPDR S&P Bank ETF COM 78464A797   46,829 1,085,000 SH   SOLE   1,032,300 0 0
SPDR S&P Biotech ETF COM 78464A870   14,678 192,500 SH   SOLE   299,700 0 0
Health Care Select Sector SPDR Fund COM 81369Y209   27,760 308,000 SH   SOLE   293,040 0 0
Energy Select Sector SPDR Fund COM 81369Y506   19,891 336,000 SH   SOLE   2,497,500 0 0
Financial Select Sector SPDR Fund COM 81369Y605   73,500 2,625,000 SH   SOLE   1,298,700 0 0
Technology Select Sector SPDR Fund COM 81369Y803   107,105 1,330,000 SH   SOLE   156,510 0 0
VanEck Vectors Gold Miners ETF COM 92189F106   23,932 896,000 SH   SOLE   299,700 0 0
Vanguard Consumer Staples ETF COM 92204A207   59,180 378,000 SH   SOLE   378,000 0 0