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 37954Y327 1,096 48,234 SH   SOLE   48,234 0 0
INVESCO ACTIVLY MANGD ETC FD OPTIMUM YIELD 46090F100 195 15,087 SH   SOLE   15,087 0 0
ISHARES INC MSCI NETHERL ETF 464286814 442 13,502 SH   SOLE   13,502 0 0
ISHARES INC MSCI THAILND ETF 464286624 478 6,763 SH   SOLE   6,763 0 0
ISHARES INC MSCI TAIWAN ETF 46434G772 6,647 165,273 SH   SOLE   165,273 0 0
ISHARES INC MSCI SWITZERLAND 464286749 8,538 219,157 SH   SOLE   219,157 0 0
ISHARES INC MSCI STH KOR ETF 464286772 2,717 47,559 SH   SOLE   47,559 0 0
ISHARES INC MSCI SPAIN ETF 464286764 848 37,738 SH   SOLE   37,738 0 0
ISHARES INC MSCI SINGPOR ETF 46434G780 382 20,378 SH   SOLE   20,378 0 0
ISHARES INC MSCI JPN ETF NEW 46434G822 8,435 153,580 SH   SOLE   153,580 0 0
ISHARES INC MSCI ITALY ETF 46434G830 891 36,983 SH   SOLE   36,983 0 0
ISHARES INC MSCI HONG KG ETF 464286871 1,953 91,407 SH   SOLE   91,407 0 0
ISHARES INC MSCI GERMANY ETF 464286806 5,601 206,621 SH   SOLE   206,621 0 0
ISHARES INC MSCI FRANCE ETF 464286707 3,042 110,948 SH   SOLE   110,948 0 0
ISHARES INC MSCI CDA ETF 464286509 1,955 75,543 SH   SOLE   75,543 0 0
ISHARES INC MSCI BRAZIL ETF 464286400 7,864 273,431 SH   SOLE   273,431 0 0
ISHARES INC MSCI AUST ETF 464286103 2,533 131,424 SH   SOLE   131,424 0 0
ISHARES TR USA MOMENTUM FCT 46432F396 230 1,759 SH   SOLE   1,759 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 2,105 14,700 SH   SOLE   14,700 0 0
ISHARES TR NEW ZEALAND ETF 464289123 5,077 89,595 SH   SOLE   89,595 0 0
ISHARES TR MSCI UK ETF NEW 46435G334 5,698 221,198 SH   SOLE   221,198 0 0
ISHARES TR MSCI POLAND ETF 46429B606 729 43,862 SH   SOLE   43,862 0 0
ISHARES TR MSCI INDONIA ETF 46429B309 554 30,786 SH   SOLE   30,786 0 0
ISHARES TR MSCI INDIA ETF 46429B598 1,915 65,998 SH   SOLE   65,998 0 0
ISHARES TR IBOXX INV CP ETF 464287242 292 2,172 SH   SOLE   2,172 0 0
ISHARES TR CORE S&P MCP ETF 464287507 397 2,231 SH   SOLE   2,231 0 0
ISHARES TR CORE MSCI EAFE 46432F842 396 6,936 SH   SOLE   6,936 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 8,954 225,542 SH   SOLE   225,542 0 0
ISHARES TR BARCLAYS 7 10 YR 464287440 6,705 55,018 SH   SOLE   55,018 0 0
ISHARES TR 20 YR TR BD ETF 464287432 3,278 19,998 SH   SOLE   19,998 0 0
ISHARES TR 1 3 YR TREAS BD 464287457 349 4,029 SH   SOLE   4,029 0 0
ISHARES TR CORE S&P SCP ETF 464287804 384 5,626 SH   SOLE   5,626 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 1,449 62,600 SH   SOLE   62,600 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 14,475 138,531 SH   SOLE   138,531 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 2,397 42,469 SH   SOLE   42,469 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 10,684 106,761 SH   SOLE   106,761 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 6,506 50,941 SH   SOLE   50,941 0 0
SELECT SECTOR SPDR TR ENERGY 81369Y506 1,204 31,812 SH   SOLE   31,812 0 0
SELECT SECTOR SPDR TR COMMUNICATION 81369Y852 5,191 96,063 SH   SOLE   96,063 0 0
SPDR INDEX SHS FDS S&P EMKTSC ETF 78463X756 1,466 35,894 SH   SOLE   35,894 0 0
SPDR SER TR PORTFOLIO LN TSR 78464A664 386 8,226 SH   SOLE   8,226 0 0
SSGA ACTIVE ETF TR BLKSTN GSOSRLN 78467V608 1,857 42,814 SH   SOLE   42,814 0 0
VANECK VECTORS ETF TR EMERGING MKTS HI 92189F353 418 18,749 SH   SOLE   18,749 0 0
VANECK VECTORS ETF TR RUSSIA ETF 92189F403 4,019 193,676 SH   SOLE   193,676 0 0
VANECK VECTORS ETF TR SEMICONDUCTOR ET 92189F676 2,750 18,000 SH   SOLE   18,000 0 0
VANGUARD BD INDEX FDS TOTAL BND MRKT 921937835 350 3,963 SH   SOLE   3,963 0 0
VANGUARD CHARLOTTE FDS INTL BD IDX ETF 92203J407 435 7,543 SH   SOLE   7,543 0 0
VANGUARD INDEX FDS TOTAL STK MKT 922908769 756 4,827 SH   SOLE   4,827 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 244 6,155 SH   SOLE   6,155 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 532 5,595 SH   SOLE   5,595 0 0