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
GLOBAL X FDS GLBX MSCI COLUM 37950E200 2,201 245,923 SH   SOLE   245,923 0 0
INVESCO ACTIVELY MANAGD ETF OPTIMUM YIELD 46090F100 562 36,001 SH   SOLE   36,001 0 0
ISHARES INC MSCI AUST ETF 464286103 2,502 112,451 SH   SOLE   112,451 0 0
ISHARES INC MSCI CHILE ETF 464286640 3,858 103,038 SH   SOLE   103,038 0 0
ISHARES INC MSCI MEXICO ETF 464286822 1,539 36,019 SH   SOLE   36,019 0 0
ISHARES INC MSCI NETHERL ETF 464286814 2,335 74,444 SH   SOLE   74,444 0 0
ISHARES INC MSCI SWITZERLAND 464286749 2,329 61,779 SH   SOLE   61,779 0 0
ISHARES INC MSCI THAILND ETF 464286624 900 10,151 SH   SOLE   10,151 0 0
ISHARES TR JPMORGAN USD EMG 464288281 6,451 56,914 SH   SOLE   56,914 0 0
ISHARES TR RUS 2000 VAL ETF 464287630 209 1,752 SH   SOLE   1,752 0 0
ISHARES TR NEW ZEALAND ETF 464289123 2,796 53,902 SH   SOLE   53,902 0 0
ISHARES TR MSCI POLAND ETF 46429B606 1,769 85,724 SH   SOLE   85,724 0 0
ISHARES TR MSCI PERU ETF 464289842 2,238 63,841 SH   SOLE   63,841 0 0
ISHARES TR MSCI INDONIA ETF 46429B309 1,205 49,242 SH   SOLE   49,242 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 2,426 16,033 SH   SOLE   16,033 0 0
ISHARES TR IBOXX INV CP ETF 464287242 349 2,738 SH   SOLE   2,738 0 0
ISHARES TR CORE S&P SCP ETF 464287804 220 2,831 SH   SOLE   2,831 0 0
ISHARES TR CORE S&P MCP ETF 464287507 214 1,108 SH   SOLE   1,108 0 0
ISHARES TR BARCLAYS 7 10 YR 464287440 9,630 85,627 SH   SOLE   85,627 0 0
ISHARES TR AGENCY BOND ETF 464288166 214 1,840 SH   SOLE   1,840 0 0
ISHARES TR 3 7 YR TREAS BD 464288661 732 5,776 SH   SOLE   5,776 0 0
ISHARES TR CORE US AGGBD ET 464287226 3,302 29,173 SH   SOLE   29,173 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 5,021 55,705 SH   SOLE   55,705 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 3,700 45,951 SH   SOLE   45,951 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 4,546 70,227 SH   SOLE   70,227 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 3,369 120,326 SH   SOLE   120,326 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 3,382 55,057 SH   SOLE   55,057 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 2,661 22,044 SH   SOLE   22,044 0 0
SELECT SECTOR SPDR TR RL EST SEL SEC 81369Y860 1,391 35,369 SH   SOLE   35,369 0 0
SELECT SECTOR SPDR TR ENERGY 81369Y506 2,463 41,597 SH   SOLE   41,597 0 0
SELECT SECTOR SPDR TR COMMUNICATION 81369Y852 1,366 27,593 SH   SOLE   27,593 0 0
SPDR INDEX SHS FDS S&P EMKTSC ETF 78463X756 1,775 40,869 SH   SOLE   40,869 0 0
SPDR SERIES TRUST BLOMBERG BRC INV 78468R200 381 12,386 SH   SOLE   12,386 0 0
SPDR SERIES TRUST BLOMBERG INTL TR 78464A516 204 7,114 SH   SOLE   7,114 0 0
SPDR SERIES TRUST S&P REGL BKG 78464A698 881 16,694 SH   SOLE   16,694 0 0
SSGA ACTIVE ETF TR BLKSTN GSOSRLN 78467V608 275 5,948 SH   SOLE   5,948 0 0
VANECK VECTORS ETF TR EMERGING MKTS HI 92189F353 791 34,126 SH   SOLE   34,126 0 0
VANECK VECTORS ETF TR RUSSIA ETF 92189F403 1,887 82,723 SH   SOLE   82,723 0 0
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 480 5,688 SH   SOLE   5,688 0 0
VANGUARD CHARLOTTE FDS INTL BD IDX ETF 92203J407 22,535 383,053 SH   SOLE   383,053 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 8,019 87,889 SH   SOLE   87,889 0 0
VANGUARD SCOTTSDALE FDS MORTG-BACK SEC 92206C771 343 6,444 SH   SOLE   6,444 0 0