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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
iShares MSCI Emerging Markets Indx ETF EEM Put 464287954   24,032,000 600,800 SH Put SOLE   0 0 600,800
ishares ETF - CORE MSCI EMKT IEMG 46434G103   24,499,680 474,800 SH   SOLE   0 0 474,800
iShares MSCI EAFE ETF EFA 464287465   26,553,450 332,500 SH   SOLE   0 0 332,500
iShares MSCI EAFE ETF EFA Put 464287955   25,042,500 333,900 SH Put SOLE   0 0 333,900
ISHARES TR IVV 464287200   388,039,736 738,097 SH   SOLE   0 0 738,097
SELECT SECTOR SPDR TR XLB 81369Y100   13,876,744 149,389 SH   SOLE   0 0 149,389
SELECT SECTOR SPDR TR XLE 81369Y506   23,147,821 245,184 SH   SOLE   0 0 245,184
SELECT SECTOR SPDR TR XLF 81369Y605   76,960,527 1,827,173 SH   SOLE   0 0 1,827,173
SELECT SECTOR SPDR TR XLI 81369Y704   51,651,913 410,066 SH   SOLE   0 0 410,066
SELECT SECTOR SPDR TR XLK 81369Y803   168,887,601 810,907 SH   SOLE   0 0 810,907
SELECT SECTOR SPDR TR XLP 81369Y308   34,707,071 454,519 SH   SOLE   0 0 454,519
SELECT SECTOR SPDR TR XLRE 81369Y860   13,247,768 335,132 SH   SOLE   0 0 335,132
SELECT SECTOR SPDR TR XLU 81369Y886   12,829,060 195,416 SH   SOLE   0 0 195,416
SELECT SECTOR SPDR TR XLV 81369Y209   72,514,009 490,855 SH   SOLE   0 0 490,855
SELECT SECTOR SPDR TR XLY 81369Y407   59,817,210 325,288 SH   SOLE   0 0 325,288
SELECT SECTOR SPDR TR XLC 81369Y852   51,881,538 635,336 SH   SOLE   0 0 635,336
IShares ETF-Rus2000 IWM 464287655   30,293,084 144,047 SH   SOLE   0 0 144,047
LISTED FD TR HEGD 53656F599   58,508,601 2,822,412 SH   SOLE   0 0 2,822,412
IShares ETF-20yr TLT Put 464287952   1,030,000 10,300 SH Put SOLE   0 0 10,300
IShares ETF-20yr TLT 464287432   974,586 10,300 SH   SOLE   0 0 10,300
North European Oil Royalty Trust NRT 659310106   110,075 18,500 SH   SOLE   0 0 18,500
INVESCO ACTIVELY MANAGED ETF GSY 46090A887   294,351 5,900 SH   SOLE   0 0 5,900
SPDR Gold Trust GLD 78463V107   2,962,368 14,400 SH   SOLE   0 0 14,400
SPDR S&P 500 ETF TR SPY Put 78462F953   1,107,001,809 2,445,300 SH Put SOLE   0 0 2,445,300
SPDR S&P 500 ETF TR SPY 78462F103   624,824,376 1,194,533 SH   SOLE   0 0 1,194,533
SPDR Gold Trust GLD Put 78463V957   1,804,800 9,600 SH Put SOLE   0 0 9,600
APPLE INC AAPL Put 037833950   1,504,000 9,400 SH Put SOLE   0 0 9,400
SPDR S&P 500 ETF TR SPY Call 78462F903   16,453,672 797,800 SH Call SOLE   0 0 797,800
PACER FDS TR PSCQ 69374H527   6,847,497 272,700 SH   SOLE   0 0 272,700
PACER FDS TR PSFO 69374H451   13,009,177 481,643 SH   SOLE   0 0 481,643
PACER FDS TR PSMO 69374H485   35,193,321 1,346,855 SH   SOLE   0 0 1,346,855
PACER FDS TR PSMJ 69374H493   45,688,437 1,741,839 SH   SOLE   0 0 1,741,839
PACER FDS TR PSCJ 69374H535   11,329,873 461,690 SH   SOLE   0 0 461,690
PACER FDS TR PSFJ 69374H469   19,046,046 713,068 SH   SOLE   0 0 713,068
PACER FDS TR PSCW 69374H543   9,746,936 410,052 SH   SOLE   0 0 410,052
PACER FDS TR PSFM 69374H477   15,945,997 592,788 SH   SOLE   0 0 592,788
PACER FDS TR PSMR 69374H519   32,580,987 1,278,187 SH   SOLE   0 0 1,278,187
PACER FDS TR PSCX 69374H584   15,651,214 609,946 SH   SOLE   0 0 609,946
PACER FDS TR PSFD 69374H576   26,267,465 860,664 SH   SOLE   0 0 860,664
PACER FDS TR PSMD 69374H550   62,978,710 2,325,654 SH   SOLE   0 0 2,325,654
CHENIERE ENERGY INC LNG Put 16411R958   1,632,000 13,600 SH Put SOLE   0 0 13,600
Swan Enhanced Dividend Income ETF SCLZ 66538R532   259,131 5,079 SH   SOLE   0 0 5,079