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
INVESCO ACTIVLY MANGD ETC FD OPTIMUM YIELD 46090F100 267 17,470 SH   SOLE   17,470 0 0
ISHARES INC MSCI BRAZIL ETF 464286400 10,580 285,407 SH   SOLE   285,407 0 0
ISHARES INC MSCI CDA ETF 464286509 3,392 110,000 SH   SOLE   110,000 0 0
ISHARES INC MSCI GERMANY ETF 464286806 7,295 229,606 SH   SOLE   229,606 0 0
ISHARES INC MSCI HONG KG ETF 464286871 2,252 91,407 SH   SOLE   91,407 0 0
ISHARES INC MSCI JPN ETF NEW 46434G822 9,117 134,946 SH   SOLE   134,946 0 0
ISHARES INC MSCI STH KOR ETF 464286772 4,039 46,936 SH   SOLE   46,936 0 0
ISHARES INC MSCI SWITZERLAND 464286749 9,954 222,781 SH   SOLE   222,781 0 0
ISHARES INC MSCI TAIWAN ETF 46434G772 5,020 94,578 SH   SOLE   94,578 0 0
ISHARES INC MSCI AUST ETF 464286103 3,125 130,499 SH   SOLE   130,499 0 0
ISHARES TR MSCI INDIA ETF 46429B598 2,629 65,359 SH   SOLE   65,359 0 0
ISHARES TR TIPS BD ETF 464287176 4,759 37,282 SH   SOLE   37,282 0 0
ISHARES TR MSCI USA MMENTM 46432F396 284 1,759 SH   SOLE   1,759 0 0
ISHARES TR MSCI UK ETF NEW 46435G334 1,611 55,000 SH   SOLE   55,000 0 0
ISHARES TR NEW ZEALAND ETF 464289123 3,928 57,710 SH   SOLE   57,710 0 0
ISHARES TR CORE S&P SCP ETF 464287804 267 2,905 SH   SOLE   2,905 0 0
ISHARES TR CORE MSCI EAFE 46432F842 741 10,722 SH   SOLE   10,722 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 10,470 225,506 SH   SOLE   225,506 0 0
ISHARES TR BARCLAYS 7 10 YR 464287440 3,254 27,125 SH   SOLE   27,125 0 0
ISHARES TR 20 YR TR BD ETF 464287432 8,560 54,267 SH   SOLE   54,267 0 0
ISHARES TR CORE S&P MCP ETF 464287507 531 2,309 SH   SOLE   2,309 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 5,840 198,086 SH   SOLE   198,086 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 14,046 108,032 SH   SOLE   108,032 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 11,441 129,203 SH   SOLE   129,203 0 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 6,489 89,635 SH   SOLE   89,635 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 9,773 86,148 SH   SOLE   86,148 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 9,184 57,123 SH   SOLE   57,123 0 0
SELECT SECTOR SPDR TR ENERGY 81369Y506 1,266 33,409 SH   SOLE   33,409 0 0
SELECT SECTOR SPDR TR COMMUNICATION 81369Y852 7,932 117,544 SH   SOLE   117,544 0 0
SPDR INDEX SHS FDS S&P EMKTSC ETF 78463X756 1,917 37,121 SH   SOLE   37,121 0 0
SPDR SER TR PORTFOLIO LN TSR 78464A664 284 6,296 SH   SOLE   6,296 0 0
VANECK VECTORS ETF TR RUSSIA ETF 92189F403 3,737 154,740 SH   SOLE   154,740 0 0
VANECK VECTORS ETF TR SEMICONDUCTOR ET 92189F676 2,943 13,473 SH   SOLE   13,473 0 0
VANGUARD BD INDEX FDS TOTAL BND MRKT 921937835 399 4,525 SH   SOLE   4,525 0 0
VANGUARD CHARLOTTE FDS INTL BD IDX ETF 92203J407 259 4,419 SH   SOLE   4,419 0 0
VANGUARD INDEX FDS TOTAL STK MKT 922908769 979 5,030 SH   SOLE   5,030 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 319 6,373 SH   SOLE   6,373 0 0
VANGUARD INTL EQUITY INDEX F FTSE PACIFIC ETF 922042866 259 3,256 SH   SOLE   3,256 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 501 5,154 SH   SOLE   5,154 0 0