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 Nasdaq Biotechnology ETF COM 464287556   14,555 120,780 SH   SOLE   120,780 0 0
iShares U.S. Home Construction ETF COM 464288752   33,003 742,980 SH   SOLE   742,980 0 0
iShares Russell Mid-Cap Value ETF COM 464287473   27,749 292,800 SH   SOLE   292,800 0 0
SPDR S&P Bank ETF COM 78464A797   53,655 1,134,600 SH   SOLE   1,134,600 0 0
Vanguard Consumer Staples ETF COM 92204A207   63,719 395,280 SH   SOLE   395,280 0 0
iShares Edge MSCI USA Value Factor ETF COM 46432F388   22,989 256,200 SH   SOLE   256,200 0 0
SPDR S&P Biotech ETF COM 78464A870   19,146 201,300 SH   SOLE   201,300 0 0
Energy Select Sector SPDR Fund COM 81369Y506   43,449 723,660 SH   SOLE   723,660 0 0
Financial Select Sector SPDR Fund COM 81369Y605   84,491 2,745,000 SH   SOLE   2,745,000 0 0
Technology Select Sector SPDR Fund COM 81369Y803   93,272 1,017,480 SH   SOLE   1,017,480 0 0
Health Care Select Sector SPDR Fund COM 81369Y209   32,807 322,080 SH   SOLE   322,080 0 0
VanEck Vectors Gold Miners ETF COM 92189F106   27,434 936,960 SH   SOLE   936,960 0 0