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
iShares Nasdaq Biotechnology E ISHARES NASDAQ B 464287556 22,865 214,152 SH   SOLE   214,152 0 0
Allscripts Healthcare Solution ALLSCRIPTS HEALT 01988P108 3,832 263,344 SH   SOLE   263,344 0 0
Health Care Select Sector SPDR SPDR-HEALTH CARE 81369Y209 22,119 267,529 SH   SOLE   267,529 0 0
TrueCar Inc TRUECAR INC 89785L107 1,429 127,612 SH   SOLE   127,612 0 0
IAC/InterActiveCorp IAC/INTERACTIVEC 44919P508 10,866 88,865 SH   SOLE   88,865 0 0
Spok Holdings Inc SPOK HOLDINGS IN 84863T106 325 20,789 SH   SOLE   20,789 0 0
SPDR S&P Insurance ETF SPDR S&P INSURAN 78464A789 763 24,853 SH   SOLE   24,853 0 0
Impax Laboratories Inc IMPAX LABS INC 45256B101 1,200 72,070 SH   SOLE   72,070 0 0
Aquinox Pharmaceuticals Inc AQUINOX PHARMACE 03842B101 266 22,610 SH   SOLE   22,610 0 0
MediciNova Inc MEDICINOVA INC 58468P206 219 33,791 SH   SOLE   33,791 0 0
American States Water Co AMER STATES WATE 029899101 1,630 28,141 SH   SOLE   28,141 0 0
Dell Technologies Inc Class V DELL TECH-CL V 24703L103 12,506 153,865 SH   SOLE   153,865 0 0
QuinStreet Inc QUINSTREET INC 74874Q100 277 33,025 SH   SOLE   33,025 0 0
Black Hills Corp BLACK HILLS CORP 092113109 2,066 34,376 SH   SOLE   34,376 0 0
Comtech Telecommunications Cor COMTECH TELECOMM 205826209 309 13,976 SH   SOLE   13,976 0 0
California Water Service Group CALIF WATER SRVC 130788102 1,251 27,580 SH   SOLE   27,580 0 0
Invacare Corp INVACARE CORP 461203101 315 18,690 SH   SOLE   18,690 0 0
iShares Russell 1000 ETF ISHARES RUSSELL 464287622 10,613 71,417 SH   SOLE   71,417 0 0
Halcon Resources Corp HALCON RESOURCES 40537Q605 516 68,184 SH   SOLE   68,184 0 0
Iridium Communications Inc IRIDIUM COMMUNIC 46269C102 492 41,725 SH   SOLE   41,725 0 0
Calgon Carbon Corp CALGON CARBON 129603106 454 21,317 SH   SOLE   21,317 0 0
SPDR S&P Oil & Gas Exploration SPDR OIL&GAS EXP 78464A730 1,024 27,554 SH   SOLE   27,554 0 0
Exterran Corp EXTERRAN CORP 30227H106 458 14,558 SH   SOLE   14,558 0 0
Bank of the Ozarks BANK OF THE OZAR 063904106 2,525 52,114 SH   SOLE   52,114 0 0
Bill Barrett Corp BILL BARRETT COR 06846N104 202 39,306 SH   SOLE   39,306 0 0
Orbital ATK Inc ORBITAL ATK INC 68557N103 2,900 22,056 SH   SOLE   22,056 0 0
iRobot Corp IROBOT CORP 462726100 801 10,448 SH   SOLE   10,448 0 0
Electro Scientific Industries ELECTRO SCI INDS 285229100 257 12,004 SH   SOLE   12,004 0 0
CNX Resources Corp CNX RESOURCES CO 12653C108 1,173 80,197 SH   SOLE   80,197 0 0
Quanta Services Inc QUANTA SERVICES 74762E102 1,901 48,609 SH   SOLE   48,609 0 0
Noble Corp plc NOBLE CORP PLC G65431101 338 74,862 SH   SOLE   74,862 0 0
United Insurance Holdings Corp UNITED INSURANCE 910710102 223 12,950 SH   SOLE   12,950 0 0
Community Bank System Inc COMMUNITY BANK S 203607106 729 13,566 SH   SOLE   13,566 0 0
CH Robinson Worldwide Inc CH ROBINSON 12541W209 3,302 37,065 SH   SOLE   37,065 0 0
Cincinnati Bell Inc CINCINNATI BELL 171871502 233 11,155 SH   SOLE   11,155 0 0
Wabash National Corp WABASH NATIONAL 929566107 327 15,061 SH   SOLE   15,061 0 0
Ultra Petroleum Corp ULTRA PETROLEUM 903914208 448 49,436 SH   SOLE   49,436 0 0
Urban Outfitters Inc URBAN OUTFITTER 917047102 894 25,487 SH   SOLE   25,487 0 0
Vonage Holdings Corp VONAGE HOLDINGS 92886T201 543 53,417 SH   SOLE   53,417 0 0
New Jersey Resources Corp NEW JERSEY RES 646025106 785 19,523 SH   SOLE   19,523 0 0
NuVasive Inc NUVASIVE INC 670704105 618 10,564 SH   SOLE   10,564 0 0
MDC Holdings Inc MDC HOLDINGS INC 552676108 370 11,596 SH   SOLE   11,596 0 0
Consumer Staples Select Sector SPDR-CONS STAPLE 81369Y308 1,648 28,969 SH   SOLE   28,969 0 0
Century Aluminum Co CENTURY ALUMINUM 156431108 326 16,586 SH   SOLE   16,586 0 0
Monsanto Co MONSANTO CO 61166W101 9,508 81,416 SH   SOLE   81,416 0 0
CenturyLink Inc CENTURYLINK INC 156700106 3,207 192,294 SH   SOLE   192,294 0 0
Grifols SA GRIFOLS SA-ADR 398438408 1,068 46,600 SH   SOLE   46,600 0 0
F5 Networks Inc F5 NETWORKS 315616102 1,379 10,507 SH   SOLE   10,507 0 0
Darden Restaurants Inc DARDEN RESTAURAN 237194105 1,990 20,724 SH   SOLE   20,724 0 0
Apartment Investment & Managem APARTMENT INVEST 03748R101 1,148 26,267 SH   SOLE   26,267 0 0
Packaging Corp of America PACKAGING CORP 695156109 1,847 15,319 SH   SOLE   15,319 0 0
Scripps Networks Interactive I SCRIPPS NET-CL A 811065101 1,329 15,565 SH   SOLE   15,565 0 0
Avis Budget Group Inc AVIS BUDGET GROU 053774105 568 12,945 SH   SOLE   12,945 0 0
Tower Semiconductor Ltd TOWER SEMICONDCT M87915274 517 15,040 SH   SOLE   15,040 0 0
Select Medical Holdings Corp SELECT MEDICAL 81619Q105 350 19,832 SH   SOLE   19,832 0 0
Global Payments Inc GLOBAL PAYMENTS 37940X102 2,342 23,366 SH   SOLE   23,366 0 0
Aaron's Inc AARON'S INC 002535300 410 10,282 SH   SOLE   10,282 0 0
Akamai Technologies Inc AKAMAI TECHNOLOG 00971T101 1,568 24,102 SH   SOLE   24,102 0 0
SLM Corp SLM CORP 78442P106 681 60,256 SH   SOLE   60,256 0 0
Murphy Oil Corp MURPHY OIL CORP 626717102 746 24,030 SH   SOLE   24,030 0 0
Wendy's Co/The WENDY'S CO/THE 95058W100 539 32,796 SH   SOLE   32,796 0 0
Uniti Group Inc UNITI GROUP INC 91325V108 412 23,136 SH   SOLE   23,136 0 0
CVR Energy Inc CVR ENERGY INC 12662P108 421 11,317 SH   SOLE   11,317 0 0
UDR Inc UDR INC 902653104 1,306 33,892 SH   SOLE   33,892 0 0
LKQ Corp LKQ CORP 501889208 1,516 37,266 SH   SOLE   37,266 0 0
Ensco PLC ENSCO PLC-CL A G3157S106 292 49,429 SH   SOLE   49,429 0 0
Citrix Systems Inc CITRIX SYSTEMS 177376100 1,480 16,813 SH   SOLE   16,813 0 0
Take-Two Interactive Software TAKE-TWO INTERAC 874054109 1,252 11,401 SH   SOLE   11,401 0 0
MDU Resources Group Inc MDU RES GROUP 552690109 510 18,966 SH   SOLE   18,966 0 0
Darling Ingredients Inc DARLING INGREDIE 237266101 287 15,808 SH   SOLE   15,808 0 0
Box Inc BOX INC- CLASS A 10316T104 245 11,601 SH   SOLE   11,601 0 0
Albemarle Corp ALBEMARLE CORP 012653101 1,352 10,570 SH   SOLE   10,570 0 0
BHP Billiton PLC BHP BILLITON-ADR 088606108 4,032 100,040 SH   SOLE   100,040 0 0
Vulcan Materials Co VULCAN MATERIALS 929160109 1,571 12,240 SH   SOLE   12,240 0 0
OPKO Health Inc OPKO HEALTH 68375N103 250 49,765 SH   SOLE   49,765 0 0
First Horizon National Corp FIRST HORIZON NA 320517105 570 28,508 SH   SOLE   28,508 0 0
GoDaddy Inc GODADDY INC-A 380237107 573 11,403 SH   SOLE   11,403 0 0
Harris Corp HARRIS CORP 413875105 1,419 10,015 SH   SOLE   10,015 0 0
Copart Inc COPART INC 217204106 816 18,900 SH   SOLE   18,900 0 0
Discovery Communications Inc DISCOVERY COMM-C 25470F302 372 17,591 SH   SOLE   17,591 0 0
Leggett & Platt Inc LEGGETT & PLATT 524660107 505 10,572 SH   SOLE   10,572 0 0
Kimco Realty Corp KIMCO REALTY 49446R109 571 31,460 SH   SOLE   31,460 0 0
Old Republic International Cor OLD REPUB INTL 680223104 414 19,347 SH   SOLE   19,347 0 0
Financial Select Sector SPDR F SPDR-FINL SELECT 81369Y605 2,379 85,237 SH   SOLE   85,237 0 0
Israel Chemicals Ltd ISRAEL CHEMICALS 000281014 372 91,677 SH   SOLE   91,677 0 0
Perrigo Co PLC PERRIGO CO PLC G97822103 876 10,045 SH   SOLE   10,045 0 0
Aqua America Inc AQUA AMERICA INC 03836W103 497 12,663 SH   SOLE   12,663 0 0
Host Hotels & Resorts Inc HOST HOTELS & RE 44107P104 1,024 51,612 SH   SOLE   51,612 0 0
Michael Kors Holdings Ltd MICHAEL KORS HOL G60754101 664 10,543 SH   SOLE   10,543 0 0
Verisk Analytics Inc VERISK ANALYTI 92345Y106 1,059 11,028 SH   SOLE   11,028 0 0
Harley-Davidson Inc HARLEY-DAVIDSON 412822108 558 10,975 SH   SOLE   10,975 0 0
Applied Materials Inc APPLIED MATERIAL 038222105 3,459 67,658 SH   SOLE   67,658 0 0
Gentex Corp GENTEX CORP 371901109 380 18,120 SH   SOLE   18,120 0 0
Xylem Inc/NY XYLEM INC 98419M100 774 11,345 SH   SOLE   11,345 0 0
Antero Resources Corp ANTERO RESOURCES 03674X106 378 19,899 SH   SOLE   19,899 0 0
Ingersoll-Rand PLC INGERSOLL-RAND G47791101 1,397 15,664 SH   SOLE   15,664 0 0
iShares Russell 2000 ETF ISHARES RUSSELL 464287655 2,525 16,563 SH   SOLE   16,563 0 0
SPDR S&P 500 ETF Trust SPDR S&P 500 ETF 78462F103 15,169 56,842 SH   SOLE   56,842 0 0
United Continental Holdings In UNITED CONTINENT 910047109 1,109 16,454 SH   SOLE   16,454 0 0
Energy Select Sector SPDR Fund SPDR-ENERGY SEL 81369Y506 1,014 14,036 SH   SOLE   14,036 0 0
Duke Realty Corp DUKE REALTY CORP 264411505 484 17,781 SH   SOLE   17,781 0 0
Centennial Resource Developmen CENTENNIAL RES-A 15136A102 247 12,465 SH   SOLE   12,465 0 0
Cardinal Health Inc CARDINAL HEALTH 14149Y108 904 14,755 SH   SOLE   14,755 0 0
PayPal Holdings Inc PAYPAL HOLDINGS 70450Y103 3,534 48,000 SH   SOLE   48,000 0 0
GGP Inc GGP INC 36174X101 865 36,965 SH   SOLE   36,965 0 0
Dollar General Corp DOLLAR GENERAL C 256677105 975 10,487 SH   SOLE   10,487 0 0
Time Warner Inc TIME WARNER INC 887317303 2,582 28,225 SH   SOLE   28,225 0 0
Ross Stores Inc ROSS STORES INC 778296103 1,108 13,803 SH   SOLE   13,803 0 0
Welltower Inc WELLTOWER INC 95040Q104 833 13,062 SH   SOLE   13,062 0 0
Newmont Mining Corp NEWMONT MINING 651639106 704 18,763 SH   SOLE   18,763 0 0
Archer-Daniels-Midland Co ARCHER-DANIELS 039483102 763 19,028 SH   SOLE   19,028 0 0
SunTrust Banks Inc SUNTRUST BANKS 867914103 980 15,178 SH   SOLE   15,178 0 0
Republic Services Inc REPUBLIC SVCS 760759100 708 10,468 SH   SOLE   10,468 0 0
Conagra Brands Inc CONAGRA BRANDS I 205887102 461 12,246 SH   SOLE   12,246 0 0
General Motors Co GENERAL MOTORS C 37045V100 1,745 42,580 SH   SOLE   42,580 0 0
IHS Markit Ltd IHS MARKIT LTD G47567105 540 11,958 SH   SOLE   11,958 0 0
Ally Financial Inc ALLY FINANCIAL I 02005N100 387 13,256 SH   SOLE   13,256 0 0
Synchrony Financial SYNCHRONY FINANC 87165B103 906 23,460 SH   SOLE   23,460 0 0
Marriott International Inc/MD MARRIOTT INTL-A 571903202 1,483 10,929 SH   SOLE   10,929 0 0
Marathon Petroleum Corp MARATHON PETROLE 56585A102 966 14,641 SH   SOLE   14,641 0 0
Western Union Co/The WESTERN UNION 959802109 262 13,768 SH   SOLE   13,768 0 0
Walgreens Boots Alliance Inc WALGREENS BOOTS 931427108 2,156 29,688 SH   SOLE   29,688 0 0
Equity Residential EQUITY RESIDENTI 29476L107 642 10,066 SH   SOLE   10,066 0 0
Hewlett Packard Enterprise Co HEWLETT PACKA 42824C109 617 42,952 SH   SOLE   42,952 0 0
Home Depot Inc/The HOME DEPOT INC 437076102 5,455 28,784 SH   SOLE   28,784 0 0
IBM IBM 459200101 3,388 22,086 SH   SOLE   22,086 0 0