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
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 11,636 63,400 SH   SOLE   63,400 0 0
NXSTAGE MEDICAL INC COM 67072V103 6,116 246,003 SH   SOLE   246,003 0 0
AVISTA CORP COM 05379B107 6,169 120,374 SH   SOLE   120,374 0 0
AKORN INC COM 009728106 3,583 191,523 SH   SOLE   191,523 0 0
WGL HLDGS INC COM 92924F106 5,968 71,339 SH   SOLE   71,339 0 0
READING INTERNATIONAL INC CL A 755408101 679 40,793 SH   SOLE   40,793 0 0
TRIBUNE MEDIA CO CL A 896047503 1,018 25,136 SH   SOLE   25,136 0 0
AERCAP HOLDINGS NV SHS N00985106 1,232 24,300 SH   SOLE   24,300 0 0
NXP SEMICONDUCTORS N V COM N6596X109 7,079 60,500 SH   SOLE   60,500 0 0
CAVIUM INC COM 14964U108 937 11,727 SH   SOLE   11,727 0 0
GENERAL CABLE CORP DEL NEW COM 369300108 3,290 111,146 SH   SOLE   111,146 0 0
SIGMA DESIGNS INC COM 826565103 2,754 444,178 SH   SOLE   444,178 0 0
VALIDUS HOLDINGS LTD COM SHS G9319H102 5,018 74,400 SH   SOLE   74,400 0 0
KAPSTONE PAPER & PACKAGING C COM 48562P103 5,991 174,616 SH   SOLE   174,616 0 0
PLY GEM HLDGS INC COM 72941W100 1,954 90,462 SH   SOLE   90,462 0 0
BLACKHAWK NETWORK HLDGS INC COM 09238E104 5,996 134,142 SH   SOLE   134,142 0 0
FOGO DE CHAO INC COM 344177100 2,328 147,836 SH   SOLE   147,836 0 0
PHH CORP COM NEW 693320202 6,000 573,614 SH   SOLE   573,614 0 0
MICROSEMI CORP COM 595137100 5,901 91,178 SH   SOLE   91,178 0 0
AMTRUST FINL SVCS INC COM 032359309 5,933 481,928 SH   SOLE   481,928 0 0
XL GROUP LTD COM G98294904 5,913 107,000 SH   SOLE   107,000 0 0
GGP INC COM 36174X101 5,729 280,000 SH   SOLE   280,000 0 0
SPDR S&P 500 ETF TRUST TR UNIT 78462F103 238,151 905,000 SH   SOLE   905,000 0 0
ISHARES TRUST MSCI EMG MKT ETF 464287234 175,498 3,635,000 SH   SOLE   3,635,000 0 0
ISHARES CORE S&P500 ETF CORE S&P500 ETF 464287200 325,078 1,225,000 SH   SOLE   1,225,000 0 0
ISHARES CORE MSCI EMKT CORE MSCI EMKT 46434G103 230,680 3,950,000 SH   SOLE   3,950,000 0 0
VANGUARD INDEX FDS REAL ESTATE ETF 922908553 2,472 32,750 SH   SOLE   32,750 0 0
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 326,808 1,350,000 SH   SOLE   1,350,000 0 0
ISHARES TRUST RUSSELL 2000 ETF 464287655 107,040 705,000 SH   SOLE   705,000 0 0
ISHARES TRUST CHINA LG-CAP ETF 464287184 63,774 1,350,000 SH   SOLE   1,350,000 0 0
ISHARES TRUST MSCI AC ASIA ETF 464288182 131,801 1,700,000 SH   SOLE   1,700,000 0 0
ISHARES INC MSCI BRAZIL ETF 464286400 76,969 1,715,000 SH   SOLE   1,715,000 0 0
ISHARES TRUST MIN VOL USA ETF 46429B697 227,453 4,380,000 SH   SOLE   4,380,000 0 0
ISHARES TRUST EDGE MSCI USA VL 46432F388 222,684 2,715,000 SH   SOLE   2,715,000 0 0
ISHARES INC MSCI STH KOR ETF 464286772 30,180 400,000 SH   SOLE   400,000 0 0
ISHARES TRUST USA MOMENTUM FCT 46432F396 220,843 2,085,000 SH   SOLE   2,085,000 0 0
ISHARES INC MSCI JPN ETF NEW 46434G822 53,702 885,000 SH   SOLE   885,000 0 0
ISHARES INC MIN VOL EMRG MKT 464286533 168,318 2,700,000 SH   SOLE   2,700,000 0 0
ISHARES INC MSCI TAIWAN ETF 46434G772 24,921 650,000 SH   SOLE   650,000 0 0