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
CLAYMORE EXCHANGE TRD FD TR GUGG FRNTR MKT 18383Q838 3,527 240,300 SH   SOLE   240,300 0 0
COLUMBIA ETF TR II INDIA INFRSR ETF 19762B806 1,677 118,600 SH   SOLE   118,600 0 0
COLUMBIA ETF TR II INDIA SML CP ETF 19762B889 3,594 185,500 SH   SOLE   185,500 0 0
FIDELITY TOTAL BD ETF 316188309 20,144 400,500 SH   SOLE   400,500 0 0
FIRST TR EXCH TRD ALPHA FD I EM SML CP ALPH 33737J307 5,566 134,400 SH   SOLE   134,400 0 0
GLOBAL X FDS MSCI GREECE ETF 37950E366 3,078 325,400 SH   SOLE   325,400 0 0
INDEXIQ ETF TR IQ GLB RES ETF 45409B883 5,178 191,900 SH   SOLE   191,900 0 0
ISHARES GOLD TRUST ISHARES 464285105 49,621 4,030,900 SH   SOLE   4,030,900 0 0
ISHARES INC MSCI FRNTR100ETF 464286145 13,761 439,200 SH   SOLE   439,200 0 0
ISHARES INC MSCI BRZ CAP ETF 464286400 3,728 89,400 SH   SOLE   89,400 0 0
ISHARES INC MSCI JAPN SMCETF 464286582 5,204 70,200 SH   SOLE   70,200 0 0
ISHARES INC MSCI STH KOR ETF 464286772 34,530 500,000 SH Put SOLE   500,000 0 0
ISHARES TR CORE S&P TTL STK 464287150 6,839 118,700 SH   SOLE   118,700 0 0
ISHARES TR TIPS BD ETF 464287176 59,857 527,000 SH   SOLE   527,000 0 0
ISHARES TR CORE US AGGBD ET 464287226 5,601 51,100 SH   SOLE   51,100 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 33,608 750,000 SH Put SOLE   750,000 0 0
ISHARES TR BARCLAYS 7 10 YR 464287440 36,549 343,100 SH   SOLE   343,100 0 0
ISHARES TR MSCI ACWI ETF 464288257 140,968 2,048,400 SH   SOLE   2,048,400 0 0
ISHARES TR SHORT TREAS BD 464288679 11,063 100,200 SH   SOLE   100,200 0 0
ISHARES TR MSCI INDIA ETF 46429B598 14,461 440,200 SH   SOLE   440,200 0 0
ISHARES TR MSCI INDIA SM CP 46429B614 3,286 71,900 SH   SOLE   71,900 0 0
ISHARES U S ETF TR SHT MAT BD ETF 46431W507 61,829 1,229,400 SH   SOLE   1,229,400 0 0
VANECK VECTORS ETF TR RARE EARTH STRAT 92189F742 4,662 180,500 SH   SOLE   180,500 0 0
VANGUARD INDEX FDS SM CP VAL ETF 922908611 49,179 384,800 SH   SOLE   384,800 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 39,170 899,000 SH   SOLE   899,000 0 0
WISDOMTREE TR JAPN HEDGE EQT 97717W851 14,657 268,000 SH   SOLE   268,000 0 0