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
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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
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 383 9,666 SH   SOLE   0 0 9,666
ISHARES TR CORE US AGGBD ET 464287226 137,610 1,164,115 SH   SOLE   1,163,900 0 215
ISHARES TR TIPS BD ETF 464287176 15,002 121,971 SH   SOLE   121,300 0 671
VANGUARD INDEX FDS VALUE ETF 922908744 1,076 10,802 SH   SOLE   0 0 10,802
VANGUARD INDEX FDS SMALL CP ETF 922908751 311 2,135 SH   SOLE   0 0 2,135
VANGUARD INDEX FDS GROWTH ETF 922908736 1,307 6,466 SH   SOLE   0 0 6,466
ISHARES TR IBOXX HI YD ETF 464288513 34,640 424,400 SH   SOLE   424,400 0 0
VANGUARD BD INDEX FDS TOTAL BND MRKT 921937835 137,052 1,551,415 SH   SOLE   1,550,600 0 815
VANGUARD TAX-MANAGED FDS FTSE DEV MKT ETF 921943858 1,338 34,500 SH   SOLE   0 0 34,500
SPDR SER TR BLOOMBERG BRCLYS 78468R622 33,980 335,900 SH   SOLE   335,900 0 0
PIMCO ETF TR 0-5 HIGH YIELD 72201R783 14,977 164,100 SH   SOLE   164,100 0 0
VANECK VECTORS ETF TR FALLEN ANGEL HG 92189F437 2,727 95,000 SH   SOLE   95,000 0 0
VANGUARD CHARLOTTE FDS INTL BD IDX ETF 92203J407 201 3,473 SH   SOLE   0 0 3,473
DBX ETF TR XTRACK USD HIGH 233051432 3,740 80,000 SH   SOLE   80,000 0 0
ISHARES TR BROAD USD HIGH 46435U853 3,631 95,000 SH   SOLE   95,000 0 0