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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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
DIREXION SHS ETF TR DLY EMG MK BL 3X 25490K281 264 3,378 SH   SOLE   3,378 0 0
GLOBAL X FDS GLBX MSCI COLUM 37950E200 2,335 247,597 SH   SOLE   247,597 0 0
INVESCO ACTIVELY MANAGD ETF OPTIMUM YIELD 46090F100 698 42,611 SH   SOLE   42,611 0 0
INVESCO EXCHNG TRADED FD TR S&P SMLCP ENGY 46138E164 152 16,900 SH   SOLE   16,900 0 0
ISHARES INC MSCI MEXICO ETF 464286822 1,564 36,061 SH   SOLE   36,061 0 0
ISHARES INC MSCI THAILND ETF 464286624 4,987 52,166 SH   SOLE   52,166 0 0
ISHARES INC MSCI TAIWAN ETF 46434G772 5,687 162,674 SH   SOLE   162,674 0 0
ISHARES INC MSCI SWITZERLAND 464286749 7,822 208,248 SH   SOLE   208,248 0 0
ISHARES INC MSCI STH KOR ETF 464286772 1,314 21,954 SH   SOLE   21,954 0 0
ISHARES INC MSCI STH AFR ETF 464286780 1,442 26,374 SH   SOLE   26,374 0 0
ISHARES INC MSCI HONG KG ETF 464286871 5,433 209,914 SH   SOLE   209,914 0 0
ISHARES INC MSCI FRNTR100ETF 464286145 236 7,964 SH   SOLE   7,964 0 0
ISHARES INC MSCI FRANCE ETF 464286707 1,128 36,806 SH   SOLE   36,806 0 0
ISHARES INC MSCI CHILE ETF 464286640 6,337 155,090 SH   SOLE   155,090 0 0
ISHARES INC MSCI BRAZIL ETF 464286400 9,887 226,155 SH   SOLE   226,155 0 0
ISHARES INC MSCI AUST ETF 464286103 2,531 112,309 SH   SOLE   112,309 0 0
ISHARES INC MSCI NETHERL ETF 464286814 2,304 74,707 SH   SOLE   74,707 0 0
ISHARES TR JPMORGAN USD EMG 464288281 6,624 58,468 SH   SOLE   58,468 0 0
ISHARES TR RUS 2000 VAL ETF 464287630 2,456 20,385 SH   SOLE   20,385 0 0
ISHARES TR NEW ZEALAND ETF 464289123 2,877 53,902 SH   SOLE   53,902 0 0
ISHARES TR MSCI POLAND ETF 46429B606 2,870 120,837 SH   SOLE   120,837 0 0
ISHARES TR MSCI PERU ETF 464289842 3,401 91,807 SH   SOLE   91,807 0 0
ISHARES TR MSCI INDONIA ETF 46429B309 1,279 49,216 SH   SOLE   49,216 0 0
ISHARES TR MSCI INDIA ETF 46429B598 1,689 47,844 SH   SOLE   47,844 0 0
ISHARES TR IBOXX INV CP ETF 464287242 241 1,938 SH   SOLE   1,938 0 0
ISHARES TR CORE US AGGBD ET 464287226 6,649 59,710 SH   SOLE   59,710 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 8,234 192,517 SH   SOLE   192,517 0 0
ISHARES TR BARCLAYS 7 10 YR 464287440 9,447 85,867 SH   SOLE   85,867 0 0
ISHARES TR AGENCY BOND ETF 464288166 211 1,829 SH   SOLE   1,829 0 0
ISHARES TR 3 7 YR TREAS BD 464288661 371 2,953 SH   SOLE   2,953 0 0
ISHARES TR 1 3 YR TREAS BD 464287457 267 3,146 SH   SOLE   3,146 0 0
ISHARES TR IBOXX HI YD ETF 464288513 1,490 17,086 SH   SOLE   17,086 0 0
PIMCO ETF TR 0-5 HIGH YIELD 72201R783 258 2,573 SH   SOLE   2,573 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 2,154 23,253 SH   SOLE   23,253 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 4,920 63,041 SH   SOLE   63,041 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 2,755 46,208 SH   SOLE   46,208 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 4,028 145,960 SH   SOLE   145,960 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 1,355 23,328 SH   SOLE   23,328 0 0
SELECT SECTOR SPDR TR RL EST SEL SEC 81369Y860 1,295 35,232 SH   SOLE   35,232 0 0
SELECT SECTOR SPDR TR ENERGY 81369Y506 5,325 83,580 SH   SOLE   83,580 0 0
SELECT SECTOR SPDR TR COMMUNICATION 81369Y852 1,367 27,781 SH   SOLE   27,781 0 0
SPDR INDEX SHS FDS S&P CHINA ETF 78463X400 283 2,958 SH   SOLE   2,958 0 0
SPDR INDEX SHS FDS S&P EMKTSC ETF 78463X756 4,646 103,938 SH   SOLE   103,938 0 0
SPDR SERIES TRUST BLOMBERG BRC INV 78468R200 373 12,144 SH   SOLE   12,144 0 0
SPDR SERIES TRUST BLOMBERG INTL TR 78464A516 268 9,255 SH   SOLE   9,255 0 0
SPDR SERIES TRUST S&P REGL BKG 78464A698 884 16,553 SH   SOLE   16,553 0 0
SSGA ACTIVE ETF TR BLKSTN GSOSRLN 78467V608 1,746 37,773 SH   SOLE   37,773 0 0
VANECK VECTORS ETF TR EMERGING MKTS HI 92189F353 814 34,100 SH   SOLE   34,100 0 0
VANECK VECTORS ETF TR RUSSIA ETF 92189F403 1,954 82,710 SH   SOLE   82,710 0 0
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 520 6,263 SH   SOLE   6,263 0 0
VANGUARD CHARLOTTE FDS INTL BD IDX ETF 92203J407 14,180 247,473 SH   SOLE   247,473 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 6,982 77,707 SH   SOLE   77,707 0 0
VANGUARD SCOTTSDALE FDS MORTG-BACK SEC 92206C771 609 11,519 SH   SOLE   11,519 0 0