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
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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 10,370 428,500 SH   SOLE   428,500 0 0
FORTRESS TRANS INFRST INVS L COM REP LTD LIAB 34960P101 30,560 3,071,403 SH   SOLE   3,071,403 0 0
ISHARES TR CORE S&P500 ETF 464287200 81,712 395,412 SH   SOLE   395,412 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 134,273 3,920,376 SH   SOLE   3,920,376 0 0
ISHARES TR IBOXX HI YD ETF 464288513 47,691 583,800 SH   SOLE   583,800 0 0
JPMORGAN CHASE & CO ALERIAN ML ETN 46625H365 53,343 1,969,090 SH   SOLE   1,969,090 0 0
MARKET VECTORS ETF TR OIL SVCS ETF 57060U191 346 13,000 SH   SOLE   13,000 0 0
POWERSHARES DB CMDTY IDX TRA UNIT BEN INT 73935S105 10,339 777,950 SH   SOLE   777,950 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 40,354 813,262 SH   SOLE   813,262 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 24,926 367,752 SH   SOLE   367,752 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 22,675 427,420 SH   SOLE   427,420 0 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 4,387 97,901 SH   SOLE   97,901 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 23,658 299,280 SH   SOLE   299,280 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 12,165 196,460 SH   SOLE   196,460 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 38,937 1,729,778 SH   SOLE   1,729,778 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 21,198 382,152 SH   SOLE   382,152 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 44,138 995,000 SH   SOLE   995,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 241,696 1,175,793 SH   SOLE   1,175,793 0 0
SPDR SERIES TRUST S&P OILGAS EXP 78464A730 1,305 43,000 SH   SOLE   43,000 0 0
TETRAPHASE PHARMACEUTICALS I COM 88165N105 301 65,000 SH   SOLE   65,000 0 0
VANGUARD INDEX FDS REIT ETF 922908553 25,693 306,600 SH   SOLE   306,600 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 22,512 651,022 SH   SOLE   651,022 0 0
PFENEX INC COM 717071104 21,837 2,221,428 SH   SOLE   2,221,428 0 0
AGROFRESH SOLUTIONS COM 00856G109 112,000 17,500,000 SH   SOLE   17,500,000 0 0
AGROFRESH SOLUTIONS WARRANTS 00856G117 6,000 6,000,000 SH   SOLE   6,000,000 0 0
ARDELYX INC COM 039697107 14 1,798 SH   SOLE   1,798 0 0
AMICUS THERAPEUTICS COM 03152W109 124 14,674 SH   SOLE   14,674 0 0