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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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
Adobe Systems Inc COM 00724F101 2,693 9,750 SH   OTR 1 9,750 0 0
Adobe Systems Inc COM 00724F101 342 1,239 SH   SOLE   1,239 0 0
Alphabet Inc COM 02079K107 335 275 SH   SOLE   275 0 0
Amazon.com Inc COM 023135106 1,389 800 SH   OTR 1 800 0 0
Appfolio Inc COM 03783C100 913 9,600 SH   OTR 1 9,600 0 0
Arbor Realty Trust I nc COM 038923108 2,603 198,528 SH   OTR 1 198,528 0 0
ARCH CAPITAL GROUP COM G0450A105 311 7,400 SH   OTR 1 7,400 0 0
Atlassian Corp PLC COM G06242104 552 4,400 SH   OTR 1 4,400 0 0
AudioCodes Ltd COM M15342104 1,583 83,699 SH   OTR 1 83,699 0 0
Automatic Data Proce ssing Inc COM 053015103 337 2,087 SH   SOLE   2,087 0 0
AutoZone Inc COM 053332102 976 900 SH   OTR 1 900 0 0
AZUL S.A. COM 05501U106 430 12,000 SH   OTR 1 12,000 0 0
Biospecifics Technol gies Corp. COM 090931106 417 7,800 SH   OTR 1 7,800 0 0
Booz Allen Hamilton Holding Corp COM 099502106 504 7,100 SH   OTR 1 7,100 0 0
Cadence Design Syste ms Inc COM 127387108 2,121 32,100 SH   OTR 1 32,100 0 0
Capital Southwest Corp COM 140501107 2,119 97,200 SH   OTR 1 97,200 0 0
Chipotle Mexican Gri ll Inc COM 169656105 2,521 3,000 SH   OTR 1 3,000 0 0
Ciena Corp COM 171779309 604 15,400 SH   OTR 1 15,400 0 0
COCA COLA EUROPEAN P COM G25839104 444 8,000 SH   OTR 1 8,000 0 0
Communication Servic es Select Sector SPD ETF 81369Y852 3,213 64,881 SH   SOLE   64,881 0 0
Consumer Discretiona ry Select Sector SPD ETF 81369Y407 6,739 55,830 SH   SOLE   55,830 0 0
Consumer Staples Sel ect Sector SPDR Fund ETF 81369Y308 5,304 86,358 SH   SOLE   86,358 0 0
Consumer Staples Sel ect Sector SPDR Fund ETF 81369Y308 3,244 52,815 SH   SOLE   52,815 0 0
Copart Inc COM 217204106 747 9,300 SH   OTR 1 9,300 0 0
Costco Wholesale Cor p COM 22160K105 2,074 7,200 SH   OTR 1 7,200 0 0
CyberArk Software Lt d COM M2682V108 2,272 22,756 SH   OTR 1 22,756 0 0
Darden Restaurants I nc COM 237194105 828 7,000 SH   OTR 1 7,000 0 0
DEXCOM INC COM COM 252131107 522 3,500 SH   OTR 1 3,500 0 0
DMC Global Inc. COM 23291C103 800 18,200 SH   OTR 1 18,200 0 0
DUCOMMUN INC COM 264147109 696 16,410 SH   OTR 1 16,410 0 0
Energy Select Sector SPDR Fund ETF 81369Y506 3,257 55,014 SH   SOLE   55,014 0 0
Etsy Inc COM 29786A106 396 7,000 SH   OTR 1 7,000 0 0
Euronet Worldwide In c COM 298736109 600 4,100 SH   OTR 1 4,100 0 0
EVERTEC Inc COM 30040P103 946 30,300 SH   OTR 1 30,300 0 0
Facebook Inc COM 30303M102 343 1,925 SH   SOLE   1,925 0 0
Fair Isaac Corp COM 303250104 455 1,500 SH   OTR 1 1,500 0 0
Federal Signal Corp COM 313855108 1,987 60,700 SH   OTR 1 60,700 0 0
Financial Select Sec tor SPDR Fund ETF 81369Y605 3,692 131,827 SH   SOLE   131,827 0 0
Financial Select Sec tor SPDR Fund ETF 81369Y605 3,224 115,103 SH   SOLE   115,103 0 0
Fortinet Inc COM 34959E109 2,491 32,450 SH   OTR 1 32,450 0 0
Fox Factory Holding Corp COM 35138V102 747 12,000 SH   OTR 1 12,000 0 0
FUNKO INC CLASS A COM 361008105 298 14,500 SH   OTR 1 14,500 0 0
Globant SA COM L44385109 632 6,900 SH   OTR 1 6,900 0 0
GOLDMAN SACHS ACCESS HY CORP ETF ETF 381430453 12,436 252,000 SH   SOLE   252,000 0 0
GREAT AJAX CORP COM 38983D300 383 24,706 SH   OTR 1 24,706 0 0
Health Care Select S ector SPDR Fund ETF 81369Y209 6,040 67,016 SH   SOLE   67,016 0 0
HEICO Corp COM 422806109 1,327 10,625 SH   OTR 1 10,625 0 0
Iec Electronics Corp COM 44949L105 18 2,652 SH   OTR 1 2,652 0 0
Industrial Select Se ctor SPDR Fund ETF 81369Y704 5,057 65,138 SH   SOLE   65,138 0 0
Innovative Industria l Properties Inc COM 45781V101 499 5,400 SH   OTR 1 5,400 0 0
Invesco QQQ Trust Se ries 1 COM 46090E103 3,226 17,085 SH   SOLE   17,085 0 0
iShares 1-3 Year Tre asury Bond ETF ETF 464287457 1,258 14,834 SH   SOLE   14,834 0 0
iShares 1-3 Year Treasury Bond ETF ETF 464287457 1,478 17,430 SH   SOLE   17,430 0 0
iShares Core S&P 500 ETF ETF 464287200 4,419 14,802 SH   SOLE   14,802 0 0
iShares Core S&P Mid -Cap ETF ETF 464287507 3,159 16,350 SH   SOLE   16,350 0 0
Ishares Core S&P Mid -Cap Etf ETF 464287507 1,848 9,564 SH   SOLE   9,564 0 0
iShares Edge MSCI Mi n Vol USA ETF ETF 46429B697 6,044 94,360 SH   SOLE   94,360 0 0
iShares Edge MSCI Mi n Vol USA ETF ETF 46429B697 4,568 71,323 SH   SOLE   71,323 0 0
Ishares Edge Msci Min Vol Usa Etf ETF 46429B697 2,125 33,154 SH   SOLE   33,154 0 0
iShares MSCI Brazil ETF ETF 464286400 1,908 45,267 SH   SOLE   45,267 0 0
ISHARES MSCI CHINA ETF ETF 46429B671 2,355 41,987 SH   SOLE   41,987 0 0
iShares MSCI Turkey ETF ETF 464286715 2,097 78,488 SH   SOLE   78,488 0 0
iShares Russell 2000 ETF ETF 464287655 2,301 15,205 SH   SOLE   15,205 0 0
iShares Russell 2000 ETF ETF 464287655 1,386 9,158 SH   SOLE   9,158 0 0
iShares S&P 500 ETF ETF 464287200 2,125 7,119 SH   SOLE   7,119 0 0
iShares U.S. Real Es tate ETF ETF 464287739 3,221 34,461 SH   SOLE   34,461 0 0
Jernigan Capital, Inc. COM 476405105 385 20,000 SH   OTR 1 20,000 0 0
Keysight Technologie s Inc COM 49338L103 895 9,200 SH   OTR 1 9,200 0 0
Kinsale Capital Grou p Inc COM 49714P108 300 2,900 SH   OTR 1 2,900 0 0
KORNIT DIGITAL LMTD COM M6372Q113 656 21,300 SH   OTR 1 21,300 0 0
LAMAR ADVERTISING COM 512816109 451 5,500 SH   OTR 1 5,500 0 0
LHC Group Inc COM 50187A107 261 2,300 SH   OTR 1 2,300 0 0
Lululemon Athletica Inc COM 550021109 2,657 13,800 SH   OTR 1 13,800 0 0
Mastercard Inc COM 57636Q104 2,200 8,100 SH   OTR 1 8,100 0 0
Match Group Inc COM 57665R106 672 9,400 SH   OTR 1 9,400 0 0
Materials Select Sec tor SPDR Fund ETF 81369Y100 5,733 98,506 SH   SOLE   98,506 0 0
Materials Select Sec tor SPDR Fund ETF 81369Y100 3,251 55,858 SH   SOLE   55,858 0 0
Medpace Holdings Inc COM 58506Q109 815 9,700 SH   OTR 1 9,700 0 0
Mellanox Technologie s Ltd COM M51363113 1,118 10,200 SH   OTR 1 10,200 0 0
Microsoft Corp COM 594918104 391 2,813 SH   SOLE   2,813 0 0
Napco Security Techn ologies Inc COM 630402105 222 8,700 SH   OTR 1 8,700 0 0
NEWTEK BUSINESS SVSC COPRT COM 652526203 632 28,000 SH   OTR 1 28,000 0 0
Nice Ltd COM 653656108 1,352 9,400 SH   OTR 1 9,400 0 0
NIKE Inc COM 654106103 350 3,724 SH   SOLE   3,724 0 0
NMI Holdings Inc COM 629209305 733 27,900 SH   OTR 1 27,900 0 0
NORTH AMERICAN CONST COM 656811106 248 21,500 SH   OTR 1 21,500 0 0
O'Reilly Automotive Inc COM 67103H107 342 859 SH   SOLE   859 0 0
Par Pacific Holdings COM 69888T207 469 20,500 SH   OTR 1 20,500 0 0
Paycom Software Inc COM 70432V102 3,069 14,650 SH   OTR 1 14,650 0 0
Paysign Inc COM 70451A104 563 55,700 SH   SOLE   55,700 0 0
PennyMac Financial S ervices Inc COM 70932M107 283 9,300 SH   OTR 1 9,300 0 0
Progressive Corp/The COM 743315103 1,615 20,900 SH   OTR 1 20,900 0 0
Qualys Inc COM 74758T303 1,186 15,700 SH   OTR 1 15,700 0 0
QuinStreet Inc COM 74874Q100 448 35,600 SH   OTR 1 35,600 0 0
RenaissanceRe Holdings Ltd COM G7496G103 464 2,400 SH   OTR 1 2,400 0 0
Repligen Corp COM 759916109 383 5,000 SH   OTR 1 5,000 0 0
RESTAURANT BRAND INT COM 76131D103 2,490 35,000 SH   OTR 1 35,000 0 0
Ross Stores Inc COM 778296103 1,340 12,200 SH   OTR 1 12,200 0 0
Sapiens I'ntl Corporation N.V. COM G7T16G103 909 46,300 SH   OTR 1 46,300 0 0
ServiceNow Inc COM 81762P102 2,259 8,900 SH   OTR 1 8,900 0 0
SIMULATIONS PLUS INC COM 829214105 281 8,100 SH   OTR 1 8,100 0 0
SPDR Bloomberg Barcl ays High Yield Bond ETF 78468R622 4,153 38,190 SH   SOLE   38,190 0 0
SPDR S&P 500 ETF Tru st ETF 78462F103 2,018 6,799 SH   SOLE   6,799 0 0
SPDR S&P Retail ETF ETF 78464A714 2,889 68,081 SH   SOLE   68,081 0 0
Starbucks Corp COM 855244109 397 4,494 SH   SOLE   4,494 0 0
SUN COMMUNITIES COM 866674104 1,024 6,900 SH   OTR 1 6,900 0 0
Technology Select Se ctor SPDR Fund ETF 81369Y803 5,397 67,020 SH   SOLE   67,020 0 0
Technology Select Se ctor SPDR Fund ETF 81369Y803 3,224 40,038 SH   SOLE   40,038 0 0
TransDigm Group Inc COM 893641100 677 1,300 SH   OTR 1 1,300 0 0
Twitter Inc COM 90184L102 1,236 30,000 SH   OTR 1 30,000 0 0
Ubiquiti Inc COM 90353W103 1,585 13,400 SH   OTR 1 13,400 0 0
UFP Technologies Inc COM 902673102 271 7,000 SH   OTR 1 7,000 0 0
Universal Display Co rp COM 91347P105 1,998 11,900 SH   OTR 1 11,900 0 0
Utilities Select Sec tor SPDR Fund ETF 81369Y886 9,459 146,100 SH   SOLE   146,100 0 0
Utilities Select Sec tor SPDR Fund ETF 81369Y886 3,219 49,719 SH   SOLE   49,719 0 0
Vanguard Communication Servic COM 92204A884 4,472 51,579 SH   SOLE   51,579 0 0
Vanguard Financials ETF ETF 92204A405 3,220 46,002 SH   SOLE   46,002 0 0
Vanguard Information Technology ETF ETF 92204A702 3,219 14,935 SH   SOLE   14,935 0 0
Veeva Systems Inc COM 922475108 1,802 11,800 SH   OTR 1 11,800 0 0
VeriSign Inc COM 92343E102 490 2,600 SH   OTR 1 2,600 0 0
Verisk Analytics Inc COM 92345Y106 601 3,800 SH   OTR 1 3,800 0 0
Visa Inc COM 92826C839 367 2,133 SH   SOLE   2,133 0 0
Voc Energy Trust COM 91829B103 87 16,379 SH   OTR 1 16,379 0 0
WIX.com, Ltd. COM M98068105 362 3,100 SH   OTR 1 3,100 0 0
Woodward Inc COM 980745103 625 5,800 SH   OTR 1 5,800 0 0
Xilinx Inc COM 983919101 1,429 14,900 SH   OTR 1 14,900 0 0
Zoetis Inc COM 98978V103 1,732 13,900 SH   OTR 1 13,900 0 0
Zoetis Inc COM 98978V103 412 3,308 SH   SOLE   3,308 0 0