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
DIREXION SHS ETF TR DLY EMG MK BL 3X 25490K281 284 3,566 SH   SOLE   3,566 0 0
GLOBAL X FDS GLBX MSCI COLUM 37950E200 2,445 253,343 SH   SOLE   253,343 0 0
INVESCO ACTIVELY MANAGD ETF OPTIMUM YIELD 46090F100 758 45,633 SH   SOLE   45,633 0 0
INVESCO EXCHNG TRADED FD TR S&P SMLCP INFO 46138E115 1,754 21,814 SH   SOLE   21,814 0 0
INVESCO EXCHNG TRADED FD TR S&P SMLCP FINL 46138E156 2,510 47,990 SH   SOLE   47,990 0 0
INVESCO EXCHNG TRADED FD TR S&P SMLCP ENGY 46138E164 894 82,990 SH   SOLE   82,990 0 0
INVESCO EXCHNG TRADED FD TR S&P SMLCP DISC 46138E180 1,243 20,514 SH   SOLE   20,514 0 0
ISHARES INC MSCI STH KOR ETF 464286772 4,286 70,320 SH   SOLE   70,320 0 0
ISHARES INC MSCI STH AFR ETF 464286780 2,159 41,253 SH   SOLE   41,253 0 0
ISHARES INC MSCI SPAIN ETF 464286764 969 33,857 SH   SOLE   33,857 0 0
ISHARES INC MSCI SWITZERLAND 464286749 389 11,007 SH   SOLE   11,007 0 0
ISHARES INC MSCI NETHERL ETF 464286814 3,508 117,356 SH   SOLE   117,356 0 0
ISHARES INC MSCI TURKEY ETF 464286715 2,465 101,572 SH   SOLE   101,572 0 0
ISHARES INC MSCI THAILND ETF 464286624 6,274 71,031 SH   SOLE   71,031 0 0
ISHARES INC MSCI TAIWAN ETF 46434G772 5,882 170,095 SH   SOLE   170,095 0 0
ISHARES INC MSCI ITALY ETF 46434G830 4,122 148,322 SH   SOLE   148,322 0 0
ISHARES INC MSCI MEXICO ETF 464286822 2,473 56,731 SH   SOLE   56,731 0 0
ISHARES INC MSCI AUST ETF 464286103 2,535 117,818 SH   SOLE   117,818 0 0
ISHARES INC CORE MSCI EMKT 46434G103 2,164 41,853 SH   SOLE   41,853 0 0
ISHARES INC MSCI CHILE ETF 464286640 7,333 169,817 SH   SOLE   169,817 0 0
ISHARES INC MSCI BRAZIL ETF 464286400 8,272 201,796 SH   SOLE   201,796 0 0
ISHARES INC MSCI FRANCE ETF 464286707 1,109 37,640 SH   SOLE   37,640 0 0
ISHARES INC MSCI HONG KG ETF 464286871 4,665 177,991 SH   SOLE   177,991 0 0
ISHARES INC MSCI FRNTR100ETF 464286145 236 8,301 SH   SOLE   8,301 0 0
ISHARES TR MSCI INDIA ETF 46429B598 1,757 49,842 SH   SOLE   49,842 0 0
ISHARES TR MSCI INDONIA ETF 46429B309 8,482 330,286 SH   SOLE   330,286 0 0
ISHARES TR MSCI PERU ETF 464289842 3,649 92,862 SH   SOLE   92,862 0 0
ISHARES TR NEW ZEALAND ETF 464289123 2,883 55,205 SH   SOLE   55,205 0 0
ISHARES TR RUS 2000 VAL ETF 464287630 245 2,039 SH   SOLE   2,039 0 0
ISHARES TR MSCI POLAND ETF 46429B606 4,299 187,902 SH   SOLE   187,902 0 0
ISHARES TR CORE US AGGBD ET 464287226 14,506 133,000 SH   SOLE   133,000 0 0
ISHARES TR 3 7 YR TREAS BD 464288661 318 2,577 SH   SOLE   2,577 0 0
ISHARES TR MICRO-CAP ETF 464288869 244 2,629 SH   SOLE   2,629 0 0
ISHARES TR AGENCY BOND ETF 464288166 269 2,373 SH   SOLE   2,373 0 0
ISHARES TR 1 3 YR TREAS BD 464287457 348 4,141 SH   SOLE   4,141 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 12,461 281,482 SH   SOLE   281,482 0 0
ISHARES TR JPMORGAN USD EMG 464288281 4,531 41,164 SH   SOLE   41,164 0 0
PIMCO ETF TR 0-5 HIGH YIELD 72201R783 287 2,867 SH   SOLE   2,867 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 3,589 139,601 SH   SOLE   139,601 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 5,753 77,740 SH   SOLE   77,740 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 3,149 34,319 SH   SOLE   34,319 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 1,225 21,066 SH   SOLE   21,066 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 1,217 16,215 SH   SOLE   16,215 0 0
SELECT SECTOR SPDR TR COMMUNICATION 81369Y852 1,359 29,061 SH   SOLE   29,061 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 1,341 23,905 SH   SOLE   23,905 0 0
SELECT SECTOR SPDR TR ENERGY 81369Y506 3,312 50,097 SH   SOLE   50,097 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 3,547 31,154 SH   SOLE   31,154 0 0
SPDR INDEX SHS FDS S&P EMKTSC ETF 78463X756 5,063 113,596 SH   SOLE   113,596 0 0
SPDR INDEX SHS FDS S&P CHINA ETF 78463X400 402 4,009 SH   SOLE   4,009 0 0
SPDR SERIES TRUST S&P RETAIL ETF 78464A714 664 14,747 SH   SOLE   14,747 0 0
SPDR SERIES TRUST S&P REGL BKG 78464A698 1,636 31,858 SH   SOLE   31,858 0 0
SSGA ACTIVE ETF TR BLKSTN GSOSRLN 78467V608 264 5,725 SH   SOLE   5,725 0 0
VANECK VECTORS ETF TR RUSSIA ETF 92189F403 4,497 218,318 SH   SOLE   218,318 0 0
VANECK VECTORS ETF TR EMERGING MKTS HI 92189F353 685 29,310 SH   SOLE   29,310 0 0
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 515 6,350 SH   SOLE   6,350 0 0
VANGUARD CHARLOTTE FDS INTL BD IDX ETF 92203J407 346 6,213 SH   SOLE   6,213 0 0
VANGUARD SCOTTSDALE FDS MORTG-BACK SEC 92206C771 641 12,242 SH   SOLE   12,242 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 5,606 64,531 SH   SOLE   64,531 0 0