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
ADIENT PLC COM G0084W101 562 8,600 SH   SOLE   8,600 0 0
ADOBE SYSTEMS INC COM 00724F101 1,895 13,400 SH   SOLE   13,400 0 0
AFLAC INC COM 001055102 5,748 73,990 SH   SOLE   73,990 0 0
ALEXION PHARMACEUTICALS, INC. COM 015351109 2,093 17,200 SH   SOLE   17,200 0 0
ALIBABA GROUP HLDS LTD COM 01609W102 2,240 15,900 SH   SOLE   15,900 0 0
ALLERGAN PLC COM G0177J108 2,382 9,800 SH   SOLE   9,800 0 0
ALPHABET INC - CL A COM 02079K305 7,540 8,110 SH   SOLE   8,110 0 0
ALPHABET INC NON-VOTING CL C COM 02079K107 2,272 2,500 SH   SOLE   2,500 0 0
AMAZON.COM INC. COM 023135106 5,034 5,200 SH   SOLE   5,200 0 0
AMBARELLA INC COM G037AX101 1,049 21,600 SH   SOLE   21,600 0 0
AMERICAN EXPRESS CO. COM 025816109 3,437 40,800 SH   SOLE   40,800 0 0
ANHEUSER-BUSCH - ADR COM 03524A108 5,264 47,700 SH   SOLE   47,700 0 0
ANTHEM INC COM 036752103 658 3,500 SH   SOLE   3,500 0 0
APOLLO GLOBAL MANAGEMENT COM 037612306 1,270 48,000 SH   SOLE   48,000 0 0
APPLE INC COM 037833100 27,542 191,240 SH   SOLE   191,240 0 0
ASTRAZENECA - ADR COM 046353108 5,039 147,800 SH   SOLE   147,800 0 0
AT&T INC COM 00206R102 2,329 61,740 SH   SOLE   61,740 0 0
ATRICURE INC COM 04963C209 879 36,250 SH   SOLE   36,250 0 0
BAIDU, INC. COM 056752108 2,327 13,010 SH   SOLE   13,010 0 0
BB&T BANK COM 054937107 1,267 27,900 SH   SOLE   27,900 0 0
BLACKSTONE GROUP COM 09253U108 667 20,000 SH   SOLE   20,000 0 0
BOSTON SCIENTIFIC CORP COM 101137107 3,798 137,000 SH   SOLE   137,000 0 0
BRISTOL MYERS SQUIBB COM 110122108 1,571 28,200 SH   SOLE   28,200 0 0
BRITISH AMERICAN TOBACCO - ADR COM 110448107 7,964 116,200 SH   SOLE   116,200 0 0
BROADCOM LTD COM Y09827109 4,266 18,305 SH   SOLE   18,305 0 0
CELGENE CORP COM 151020104 1,299 10,000 SH   SOLE   10,000 0 0
CHEVRON COM 166764100 1,290 12,360 SH   SOLE   12,360 0 0
CHUBB LTD(old ACE LTD) COM H1467J104 8,672 59,650 SH   SOLE   59,650 0 0
CIGNA CORP COM 125509109 670 4,000 SH   SOLE   4,000 0 0
CITIGROUP COM 172967424 5,946 88,900 SH   SOLE   88,900 0 0
CME GROUP INC COM 12572Q105 2,104 16,800 SH   SOLE   16,800 0 0
COMCAST CORPORATION COM 20030N101 3,448 88,590 SH   SOLE   88,590 0 0
COMERICA INC. COM 200340107 1,721 23,500 SH   SOLE   23,500 0 0
DEXCOM INC. COM 252131107 1,273 17,400 SH   SOLE   17,400 0 0
DIAGEO PLC - SPONSORED ADR COM 25243Q205 4,685 39,100 SH   SOLE   39,100 0 0
DOLBY LABORATORIES INC COM 25659T107 1,175 24,000 SH   SOLE   24,000 0 0
EDWARDS LIFESCIENCES CORP. COM 28176E108 2,826 23,900 SH   SOLE   23,900 0 0
EQUITY RESIDENTIAL COM 29476L107 6,792 103,180 SH   SOLE   103,180 0 0
ERICSSON COM 294821608 1,219 170,000 SH   SOLE   170,000 0 0
EVOLENT HEALTH INC COM 30050B101 726 28,650 SH   SOLE   28,650 0 0
EXXON COM 30231G102 6,489 80,380 SH   SOLE   80,380 0 0
FACEBOOK COM 30303M102 7,058 46,750 SH   SOLE   46,750 0 0
FIDELITY NATIONAL COM 31620M106 2,101 24,600 SH   SOLE   24,600 0 0
GENERAL ELECTRIC CO. COM 369604103 3,563 131,905 SH   SOLE   131,905 0 0
GLAXOSMITHKLINE - ADR COM 37733W105 6,205 143,900 SH   SOLE   143,900 0 0
GOLDMAN SACHS GROUP COM 38141G104 3,883 17,500 SH   SOLE   17,500 0 0
HALLIBURTON COM 406216101 1,025 24,000 SH   SOLE   24,000 0 0
INTEL CORP COM 458140100 1,472 43,630 SH   SOLE   43,630 0 0
JD COM INC COM 47215P106 609 15,533 SH   SOLE   15,533 0 0
JOHNSON & JOHNSON COM 478160104 1,879 14,200 SH   SOLE   14,200 0 0
JP MORGAN COM 46625H100 5,301 58,000 SH   SOLE   58,000 0 0
LAM RESEARCH CORP COM 512807108 1,414 10,000 SH   SOLE   10,000 0 0
MICROSOFT CORP COM 594918104 11,201 162,505 SH   SOLE   162,505 0 0
MORGAN STANLEY COM 617446448 3,565 80,000 SH   SOLE   80,000 0 0
NASDAQ INC. COM 631103108 1,987 27,800 SH   SOLE   27,800 0 0
NETEASE INC (ADR) COM 64110W102 536 1,784 SH   SOLE   1,784 0 0
NEVRO CORP COM 64157F103 633 8,500 SH   SOLE   8,500 0 0
NEWELL BRANDS INC COM 651229106 1,019 19,000 SH   SOLE   19,000 0 0
NEXTERA ENERGY INC COM 65339F101 561 4,000 SH   SOLE   4,000 0 0
NOVARTIS AG - ADR COM 66987V109 13,030 156,100 SH   SOLE   156,100 0 0
NOVO NORDISK -ADR COM 670100205 4,696 109,500 SH   SOLE   109,500 0 0
NXP SEMICONDUCTORS COM N6596X109 1,297 11,850 SH   SOLE   11,850 0 0
ON SEMICONDUCTOR CORP COM 682189105 571 40,700 SH   SOLE   40,700 0 0
ORACLE CORP COM 68389X105 8,331 166,160 SH   SOLE   166,160 0 0
ORBOTECH LTD COM M75253100 1,093 33,500 SH   SOLE   33,500 0 0
PENUMBRA INC COM 70975l107 667 7,600 SH   SOLE   7,600 0 0
PTC INC COM 69370C100 2,205 40,000 SH   SOLE   40,000 0 0
RAYTHEON & COMPANY COM 755111507 1,938 12,000 SH   SOLE   12,000 0 0
REALTY INCOME CORPORATION COM 756109104 2,908 52,700 SH   SOLE   52,700 0 0
RENAISSANCERE HLDGS LTD COM G7496G103 1,530 11,000 SH   SOLE   11,000 0 0
SALESFORCE.COM COM 79466L302 1,767 20,400 SH   SOLE   20,400 0 0
SANOFI (ADR) COM 80105N105 6,674 139,300 SH   SOLE   139,300 0 0
SEAGATE TECHNOLOGY HOLDINGS COM G7945M107 3,565 92,000 SH   SOLE   92,000 0 0
SHIRE PLC-ADR COM 82481R106 5,900 35,700 SH   SOLE   35,700 0 0
SPIRIT AEROSYSTEMS HLDGS INC COM 848574109 1,159 20,000 SH   SOLE   20,000 0 0
ST MICRO ELECTRONICS COM 861012102 974 67,710 SH   SOLE   67,710 0 0
STRYKER CORP COM 863667101 1,249 9,000 SH   SOLE   9,000 0 0
SUMMIT MATERIALS INC COM 86614U100 1,841 63,756 SH   SOLE   63,756 0 0
TESLA MOTORS, INC. COM 88160R101 2,665 7,370 SH   SOLE   7,370 0 0
TEXAS INSTRUMENTS COM 882508104 628 8,160 SH   SOLE   8,160 0 0
THE BOEING CO COM 097023105 1,977 10,000 SH   SOLE   10,000 0 0
TRANSOCEAN INC COM H8817H100 1,358 165,000 SH   SOLE   165,000 0 0
TRAVELERS COMPANIES ORD COM 89417E109 7,320 57,850 SH   SOLE   57,850 0 0
UNILEVER PLC - ADR COM 904784709 10,142 183,500 SH   SOLE   183,500 0 0
UNITEDHEALTH GROUP COM 91324P102 6,276 33,850 SH   SOLE   33,850 0 0
US CONCRETE INC COM 90333L201 2,042 26,000 SH   SOLE   26,000 0 0
VERIZON COMMUNICATION INC. COM 92343V104 3,798 85,045 SH   SOLE   85,045 0 0
VORNADO REALTY TRUST COM 929042109 845 9,000 SH   SOLE   9,000 0 0
WALT DISNEY CO. COM 254687106 8,627 81,200 SH   SOLE   81,200 0 0
WEIBO CORP ADR COM 948596101 757 11,390 SH   SOLE   11,390 0 0
WESTERN DIGITAL CORP COM 958102105 1,993 22,500 SH   SOLE   22,500 0 0
CONSUMER STAPLES SPDR ETF 81369Y308 106,518 1,938,800 SH   SOLE   1,938,800 0 0
DB COMMODITY INDEX FUND ETF 73935S105 3,685 255,000 SH   SOLE   255,000 0 0
ISHARE MSCI EMERGING MARKETS E ETF 464287234 31,063 750,500 SH   SOLE   750,500 0 0
ISHARES CORE MSCI EMERGING MKT ETF 46434G103 99,355 1,985,509 SH   SOLE   1,985,509 0 0
ISHARES CORE TOTAL US BOND ETF ETF 464287226 25,319 231,200 SH   SOLE   231,200 0 0
ISHARES DJ US REAL ESTATE ETF 464287739 154,251 1,933,700 SH   SOLE   1,933,700 0 0
ISHARES JAPAN ETF 46434G822 32,836 612,035 SH   SOLE   612,035 0 0
ISHARES MSCI AUSTRALIA INDEX F ETF 464286103 20,479 944,600 SH   SOLE   944,600 0 0
ISHARES MSCI CANADA INDEX ETF 464286509 31,867 1,190,829 SH   SOLE   1,190,829 0 0
ISHARES MSCI EAFE GROWTH ETF 464288885 15,099 204,157 SH   SOLE   204,157 0 0
ISHARES MSCI EAFE SMALL CAP ETF 464288273 16,090 278,186 SH   SOLE   278,186 0 0
ISHARES MSCI EAFE VALUE ETF 464288877 10,793 208,768 SH   SOLE   208,768 0 0
ISHARES MSCI EUROPE FINANCIALS ETF 464289180 5,924 270,000 SH   SOLE   270,000 0 0
ISHARES MSCI UNITED KINGDOM ETF 46435G334 7,936 238,110 SH   SOLE   238,110 0 0
ISHARES MSCI USA MOMENTUM FACT ETF 46432F396 7,536 84,777 SH   SOLE   84,777 0 0
ISHARES NASDAQ BIOTECH ETF 464287556 34,047 109,800 SH   SOLE   109,800 0 0
ISHARES S&P 500 GROWTH ETF ETF 464287309 20,111 146,954 SH   SOLE   146,954 0 0
ISHARES S&P 500 VALUE ETF ETF 464287408 18,159 173,007 SH   SOLE   173,007 0 0
ISHARES S&P MIDCAP 400/GROWTH ETF 464287606 11,814 60,084 SH   SOLE   60,084 0 0
ISHARES S&P MIDCAP 400/VALUE E ETF 464287705 6,632 44,642 SH   SOLE   44,642 0 0
POWERSHARES S&P 500 QUALITY ETF 73935X682 7,202 257,577 SH   SOLE   257,577 0 0
RUSSELL 2000 INDEX FUND ETF 464287655 9,901 70,258 SH   SOLE   70,258 0 0
S&P 500 PURE GROWTH ETF 78355W403 3,752 39,851 SH   SOLE   39,851 0 0
S&P 500 PURE VALUE ETF 78355W304 3,610 60,606 SH   SOLE   60,606 0 0
SELECT SECTOR SPDR- REAL ESTAT ETF 81369Y860 18,312 568,682 SH   SOLE   568,682 0 0
SELECT SECTOR SPDR-CONSUMER DI ETF 81369Y407 105,797 1,180,370 SH   SOLE   1,180,370 0 0
SELECT SECTOR SPDR-ENERGY ETF 81369Y506 74,065 1,140,869 SH   SOLE   1,140,869 0 0
SELECT SECTOR SPDR-FINANCIAL ETF 81369Y605 110,510 4,479,540 SH   SOLE   4,479,540 0 0
SELECT SECTOR SPDR-HEALTH CARE ETF 81369Y209 111,262 1,404,120 SH   SOLE   1,404,120 0 0
SELECT SECTOR SPDR-INDUSTRIAL ETF 81369Y704 89,264 1,310,590 SH   SOLE   1,310,590 0 0
SELECT SECTOR SPDR-MATERIALS ETF 81369Y100 25,946 482,180 SH   SOLE   482,180 0 0
SELECT SECTOR SPDR-TECHNOLOGY ETF 81369Y803 167,660 3,063,960 SH   SOLE   3,063,960 0 0
SELECT SECTOR SPDR-UTILITIES ETF 81369Y886 62,846 1,209,500 SH   SOLE   1,209,500 0 0
SPDR S&P BANK ETF ETF 78464A797 4,983 114,500 SH   SOLE   114,500 0 0
SPDR S&P OIL & GAS EXPLORATION ETF 78464A730 9,384 294,000 SH   SOLE   294,000 0 0
SPDR-S&P 500 INDEX ETF 78462F103 24,132 99,800 SH   SOLE   99,800 0 0
VANECK VECTORS GOLD MINERS ETF 92189F106 3,312 150,000 SH   SOLE   150,000 0 0
VANECK VECTORS JUNIOR GOLD MIN ETF 92189F791 3,338 100,000 SH   SOLE   100,000 0 0
VANGUARD FTSE EUROPE ETF ETF 922042874 15,725 285,190 SH   SOLE   285,190 0 0