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 11,291 428,500 SH   SOLE   428,500 0 0
FORTRESS TRANS INFRST INVS L COM REP LTD LIAB 34960P101 28,226 3,071,403 SH   SOLE   3,071,403 0 0
ISHARES TR CORE S&P500 ETF 464287200 89,002 422,412 SH   SOLE   422,412 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 134,704 3,920,376 SH   SOLE   3,920,376 0 0
JPMORGAN CHASE & CO ALERIAN ML ETN 46625H365 62,676 1,969,090 SH   SOLE   1,969,090 0 0
POWERSHARES DB CMDTY IDX TRA UNIT BEN INT 73935S105 11,942 777,950 SH   SOLE   777,950 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 20,238 385,699 SH   SOLE   385,699 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 36,507 509,021 SH   SOLE   509,021 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 51,991 942,723 SH   SOLE   942,723 0 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 4,537 97,899 SH   SOLE   97,899 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 21,650 277,388 SH   SOLE   277,388 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 12,996 190,448 SH   SOLE   190,448 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 29,846 1,307,332 SH   SOLE   1,307,332 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 20,089 358,997 SH   SOLE   358,997 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 42,796 987,000 SH   SOLE   987,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 231,697 1,105,793 SH   SOLE   1,105,793 0 0
SPDR SERIES TRUST S&P OILGAS EXP 78464A730 522 15,000 SH   SOLE   15,000 0 0
SPDR SERIES TRUST S&P BIOTECH 78464A870 1,352 25,000 SH   SOLE   25,000 0 0
SPDR SERIES TRUST S&P HOMEBUILD 78464A888 335 10,000 SH   SOLE   10,000 0 0
TETRAPHASE PHARMACEUTICALS I COM 88165N105 280 65,000 SH   SOLE   65,000 0 0
VANGUARD INDEX FDS REIT ETF 922908553 27,186 306,600 SH   SOLE   306,600 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 22,929 651,022 SH   SOLE   651,022 0 0
PFENEX INC COM 717071104 18,593 2,221,428 SH   SOLE   2,221,428 0 0
AGROFRESH SOLUTIONS COM 00856G109 92,925 17,500,000 SH   SOLE   17,500,000 0 0