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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
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
DENBURY RES INC COM NEW 247916208 31 14,000 SH   OTR   0 14,000 0
GULFPORT ENERGY CORP COM NEW 402635304 150 5,300 SH   OTR   0 5,300 0
HERCULES OFFSHORE INC COM NEW 427093307 24 10,017 SH   OTR   0 10,017 0
ING GROEP N V DBCV 6.000%12/2 456837AE3 1,054 1,120,000 PRN   OTR   0 1,120,000 0
ISHARES TR IBOXX INV CP ETF 464287242 75,063 631,737 SH   OTR   0 631,737 0
QEP RES INC COM 74733V100 75 5,300 SH   OTR   0 5,300 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 840 18,737 SH   SOLE   18,737 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 3,365 63,420 SH   SOLE   63,420 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 3,382 42,750 SH   SOLE   42,750 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 328 5,300 SH   OTR   0 5,300 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 3,331 60,059 SH   SOLE   60,059 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 2,559 57,698 SH   SOLE   57,698 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 3,385 68,218 SH   SOLE   68,218 0 0
SM ENERGY CO COM 78454L100 17 900 SH   OTR   0 900 0
SPDR SERIES TRUST BRC HGH YLD BD 78464A417 60,806 1,775,356 SH   OTR   0 1,775,356 0
WHITING PETE CORP NEW COM 966387102 34 4,200 SH   OTR   0 4,200 0