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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
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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
GLOBAL X FDS GLOBAL X COPPER 37954Y830   3,608,596 50,266 SH   SOLE   50,266 0 0
INVESCO QQQ TR UNIT SER 1 46090E103   42,257,156 68,788 SH   SOLE   68,788 0 0
ISHARES INC MSCI STH KOR ETF 464286772   4,526,272 46,557 SH   SOLE   46,557 0 0
ISHARES INC MSCI BRAZIL ETF 464286400   3,192,218 100,479 SH   SOLE   100,479 0 0
ISHARES TR MSCI UK ETF NEW 46435G334   5,278,963 120,031 SH   SOLE   120,031 0 0
ISHARES TR MSCI USA QLT FCT 46432F339   72,119,518 363,103 SH   SOLE   363,103 0 0
ISHARES TR MSCI INTL QUALTY 46434V456   41,949,259 922,976 SH   SOLE   922,976 0 0
ISHARES TR EAFE VALUE ETF 464288877   25,684,249 359,673 SH   SOLE   359,673 0 0
SELECT SECTOR SPDR TR STATE STREET CON 81369Y308   9,109,844 117,274 SH   SOLE   117,274 0 0
SELECT SECTOR SPDR TR STATE STREET UTI 81369Y886   5,467,308 128,070 SH   SOLE   128,070 0 0
SPDR SERIES TRUST STATE STREET SPD 78468R663   76,252,132 834,451 SH   SOLE   834,451 0 0
TCW ETF TRUST TRANSFORM SYSTEM 29287L205   15,851,251 164,850 SH   SOLE   164,850 0 0
VANECK ETF TRUST GOLD MINERS ETF 92189F106   7,503,331 87,482 SH   SOLE   87,482 0 0
VANECK ETF TRUST SEMICONDUCTR ETF 92189F676   19,134,787 53,133 SH   SOLE   53,133 0 0
VANGUARD INDEX FDS VALUE ETF 922908744   5,561,820 29,121 SH   SOLE   29,121 0 0