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
FLEXSHARES TR MORNSTAR UPSTR 33939L407 9,534 428,500 SH   SOLE   428,500 0 0
ISHARES MSCI WORLD ETF 464286392 48,107 497,586 SH   SOLE   497,586 0 0
ISHARES TR CORE S&P500 ETF 464287200 81,008 395,412 SH   SOLE   395,412 0 0
ISHARES TR IBOXX HI YD ETF 464288513 47,043 583,800 SH   SOLE   583,800 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 138,992 4,206,529 SH   SOLE   4,206,529 0 0
ISHARES TR RUS 1000 GRW ETF 464287614 7,461 75,000 SH   SOLE   75,000 0 0
JPMORGAN CHASE & CO ALERIAN ML ETN 46625H365 57,045 1,969,090 SH   SOLE   1,969,090 0 0
POWERSHARES DB CMDTY IDX TRA UNIT BEN INT 73935S105 10,393 777,950 SH   SOLE   777,950 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 21,522 275,388 SH   SOLE   275,388 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 16,381 324,434 SH   SOLE   324,434 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 25,124 348,701 SH   SOLE   348,701 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 26,603 439,354 SH   SOLE   439,354 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 33,058 1,390,171 SH   SOLE   1,390,171 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 16,539 311,997 SH   SOLE   311,997 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 33,850 782,106 SH   SOLE   782,106 0 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 3,252 74,899 SH   SOLE   74,899 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 37,562 877,000 SH   SOLE   877,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 239,732 1,175,793 SH   SOLE   1,175,793 0 0
TETRAPHASE PHARMACEUTICALS I COM 88165N105 652 65,000 SH   SOLE   65,000 0 0
VANGUARD INDEX FDS REIT ETF 922908553 24,445 306,600 SH   SOLE   306,600 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 21,295 651,022 SH   SOLE   651,022 0 0
PFENEX INC COM 717071104 27,501 2,221,428 SH   SOLE   2,221,428 0 0
AGROFRESH SOLUTIONS COM 00856G109 110,775 17,500,000 SH   SOLE   17,500,000 0 0
AMICUS THERAPEUTICS COM 03152W109 142 14,674 SH   SOLE   14,674 0 0