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
BARCLAYS BK PLC DJUBS CMDT ETN36 06738C778 6,650 182,234 SH   SOLE NONE 182,234 0 0
CAFEPRESS INC COM 12769A103 188 30,000 SH   SOLE NONE 30,000 0 0
ISHARES TR MSCI EMERG MKT 464287234 311,468 8,077,500 SH Put SOLE NONE 80,775 0 0
ISHARES TR MSCI EMERG MKT 464287234 1,520 39,411 SH   SOLE NONE 39,411 0 0
ISHARES TR S&P NA NAT RES 464287374 7,250 189,500 SH   SOLE NONE 189,500 0 0
ISHARES TR MSCI EAFE INDEX 464287465 367,424 6,400,000 SH Put SOLE NONE 64,000 0 0
ISHARES TR MSCI EAFE INDEX 464287465 924 16,096 SH   SOLE NONE 16,096 0 0
ISHARES TR DJ US REAL EST 464287739 7,205 108,532 SH   SOLE NONE 108,532 0 0
SPX CORP PUT 784635954 1,124,396 700,000 SH Put SOLE NONE 7,000 0 0