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
ADIENT PLC COM G0084W101 625 8,600 SH   SOLE   8,600 0 0
ADOBE SYSTEMS INC COM 00724F101 1,744 13,400 SH   SOLE   13,400 0 0
AFLAC INC COM 001055102 3,584 49,490 SH   SOLE   49,490 0 0
ALEXION PHARMACEUTICALS, INC. COM 015351109 1,237 10,200 SH   SOLE   10,200 0 0
ALIBABA GROUP HLDS LTD COM 01609W102 1,445 13,400 SH   SOLE   13,400 0 0
ALLERGAN PLC COM G0177J108 3,440 14,400 SH   SOLE   14,400 0 0
ALPHABET INC - CL A COM 02079K305 5,612 6,620 SH   SOLE   6,620 0 0
ALPHABET INC NON-VOTING CL C COM 02079K107 3,401 4,100 SH   SOLE   4,100 0 0
AMAZON.COM INC. COM 023135106 6,560 7,400 SH   SOLE   7,400 0 0
AMBARELLA INC COM G037AX101 1,149 21,000 SH   SOLE   21,000 0 0
AMERICAN EXPRESS CO. COM 025816109 8,471 107,075 SH   SOLE   107,075 0 0
AMERICAN INTL GROUP COM 026874784 1,186 19,000 SH   SOLE   19,000 0 0
ANHEUSER-BUSCH - ADR COM 03524A108 5,236 47,700 SH   SOLE   47,700 0 0
APPLE INC COM 037833100 21,684 150,940 SH   SOLE   150,940 0 0
ASTRAZENECA - ADR COM 046353108 4,602 147,800 SH   SOLE   147,800 0 0
AT&T INC COM 00206R102 2,565 61,740 SH   SOLE   61,740 0 0
ATRICURE INC COM 04963C209 1,216 63,500 SH   SOLE   63,500 0 0
BRITISH AMERICAN TOBACCO - ADR COM 110448107 7,706 116,200 SH   SOLE   116,200 0 0
BROADCOM LTD COM Y09827109 2,322 10,605 SH   SOLE   10,605 0 0
CHEVRON COM 166764100 1,327 12,360 SH   SOLE   12,360 0 0
CHUBB LTD(old ACE LTD) COM H1467J104 1,185 8,700 SH   SOLE   8,700 0 0
CITIGROUP COM 172967424 4,678 78,200 SH   SOLE   78,200 0 0
CITRIX SYSTEM COM 177376100 566 6,790 SH   SOLE   6,790 0 0
CME GROUP INC COM 12572Q105 1,426 12,000 SH   SOLE   12,000 0 0
COMCAST CORPORATION COM 20030N101 3,330 88,590 SH   SOLE   88,590 0 0
COMERICA INC. COM 200340107 1,612 23,500 SH   SOLE   23,500 0 0
DIAGEO PLC - SPONSORED ADR COM 25243Q205 4,519 39,100 SH   SOLE   39,100 0 0
DOLBY LABORATORIES INC COM 25659T107 1,258 24,000 SH   SOLE   24,000 0 0
EDWARDS LIFESCIENCES CORP. COM 28176E108 1,204 12,800 SH   SOLE   12,800 0 0
EQUITY RESIDENTIAL COM 29476L107 3,446 55,380 SH   SOLE   55,380 0 0
EVOLENT HEALTH INC COM 30050B101 1,226 55,000 SH   SOLE   55,000 0 0
EXXON COM 30231G102 6,592 80,380 SH   SOLE   80,380 0 0
FACEBOOK COM 30303M102 5,803 40,850 SH   SOLE   40,850 0 0
FIDELITY NATIONAL COM 31620M106 1,433 18,000 SH   SOLE   18,000 0 0
GENERAL ELECTRIC CO. COM 369604103 3,931 131,905 SH   SOLE   131,905 0 0
GILEAD SCIENCES INC COM 375558103 1,307 19,250 SH   SOLE   19,250 0 0
GLAXOSMITHKLINE - ADR COM 37733W105 6,067 143,900 SH   SOLE   143,900 0 0
GOLDMAN SACHS GROUP COM 38141G104 4,020 17,500 SH   SOLE   17,500 0 0
GW PHARMACEUTICALS PLC COM 36197T103 1,185 9,800 SH   SOLE   9,800 0 0
HALLIBURTON COM 406216101 1,181 24,000 SH   SOLE   24,000 0 0
HEWLETT PACKARD COM 40434L105 1,263 70,660 SH   SOLE   70,660 0 0
INTEL CORP COM 458140100 1,574 43,630 SH   SOLE   43,630 0 0
INTERNATIONAL BUSINESS MACHINE COM 459200101 2,451 14,075 SH   SOLE   14,075 0 0
JOHNSON & JOHNSON COM 478160104 1,769 14,200 SH   SOLE   14,200 0 0
JP MORGAN COM 46625H100 5,095 58,000 SH   SOLE   58,000 0 0
LAM RESEARCH CORP COM 512807108 1,284 10,000 SH   SOLE   10,000 0 0
MICROSOFT CORP COM 594918104 6,455 98,005 SH   SOLE   98,005 0 0
MORGAN STANLEY COM 617446448 5,141 120,000 SH   SOLE   120,000 0 0
NAVIOS MARITIME HOLDINGS INC. COM Y62196103 93 50,000 SH   SOLE   50,000 0 0
NEWELL BRANDS INC COM 651229106 896 19,000 SH   SOLE   19,000 0 0
NOVARTIS AG - ADR COM 66987V109 11,594 156,100 SH   SOLE   156,100 0 0
NOVO NORDISK -ADR COM 670100205 3,754 109,500 SH   SOLE   109,500 0 0
NXP SEMICONDUCTORS COM N6596X109 2,055 19,855 SH   SOLE   19,855 0 0
ON SEMICONDUCTOR CORP COM 682189105 1,263 81,550 SH   SOLE   81,550 0 0
ORACLE CORP COM 68389X105 3,286 73,660 SH   SOLE   73,660 0 0
PANDORA MEDIA INC COM 698354107 5,598 473,990 SH   SOLE   473,990 0 0
PFIZER COM 717081103 4,654 136,050 SH   SOLE   136,050 0 0
PTC INC COM 69370C100 2,102 40,000 SH   SOLE   40,000 0 0
RAYTHEON & COMPANY COM 755111507 1,830 12,000 SH   SOLE   12,000 0 0
REALTY INCOME CORPORATION COM 756109104 1,173 19,700 SH   SOLE   19,700 0 0
RENAISSANCERE HLDGS LTD COM G7496G103 1,591 11,000 SH   SOLE   11,000 0 0
SANOFI (ADR) COM 80105N105 6,303 139,300 SH   SOLE   139,300 0 0
SEAGATE TECHNOLOGY HOLDINGS COM G7945M107 4,226 92,000 SH   SOLE   92,000 0 0
SHIRE PLC-ADR COM 82481R106 5,227 30,000 SH   SOLE   30,000 0 0
SPIRIT AEROSYSTEMS HLDGS INC COM 848574109 1,158 20,000 SH   SOLE   20,000 0 0
ST MICRO ELECTRONICS COM 861012102 1,681 108,730 SH   SOLE   108,730 0 0
SUMMIT MATERIALS INC COM 86614U100 1,575 63,756 SH   SOLE   63,756 0 0
TESLA MOTORS, INC. COM 88160R101 1,550 5,570 SH   SOLE   5,570 0 0
TEXAS INSTRUMENTS COM 882508104 657 8,160 SH   SOLE   8,160 0 0
THE BOEING CO COM 097023105 1,769 10,000 SH   SOLE   10,000 0 0
TRANSOCEAN INC COM H8817H100 2,054 165,000 SH   SOLE   165,000 0 0
TRAVELERS COMPANIES ORD COM 89417E109 3,604 29,900 SH   SOLE   29,900 0 0
TRIPADVISOR INC COM 896945201 1,208 28,000 SH   SOLE   28,000 0 0
TWILIO INC. COM 90138F102 1,646 57,000 SH   SOLE   57,000 0 0
UNILEVER PLC - ADR COM 904784709 9,116 183,500 SH   SOLE   183,500 0 0
US CONCRETE INC COM 90333L201 1,678 26,000 SH   SOLE   26,000 0 0
VANTIV INC COM 92210H105 2,344 36,560 SH   SOLE   36,560 0 0
VERIZON COMMUNICATION INC. COM 92343V104 4,146 85,045 SH   SOLE   85,045 0 0
WALT DISNEY CO. COM 254687106 8,005 70,600 SH   SOLE   70,600 0 0
WELLS FARGO&COMPANY COM 949746101 1,219 21,900 SH   SOLE   21,900 0 0
WESTERN DIGITAL CORP COM 958102105 1,857 22,500 SH   SOLE   22,500 0 0
ZOETIS INC COM 98978V103 1,601 30,000 SH   SOLE   30,000 0 0
CONSUMER STAPLES SPDR ETF 81369Y308 105,820 1,938,800 SH   SOLE   1,938,800 0 0
DB COMMODITY INDEX FUND ETF 73935S105 3,879 255,000 SH   SOLE   255,000 0 0
ISHARE MSCI EMERGING MARKETS E ETF 464287234 27,553 699,500 SH   SOLE   699,500 0 0
ISHARES CORE MSCI EMERGING MKT ETF 46434G103 68,080 1,424,570 SH   SOLE   1,424,570 0 0
ISHARES CORE S&P MIDCAP ETF ETF 464287507 2,300 13,434 SH   SOLE   13,434 0 0
ISHARES CORE TOTAL US BOND ETF ETF 464287226 25,083 231,200 SH   SOLE   231,200 0 0
ISHARES DJ US REAL ESTATE ETF 464287739 159,609 2,033,500 SH   SOLE   2,033,500 0 0
ISHARES JAPAN ETF 46434G822 31,520 612,035 SH   SOLE   612,035 0 0
ISHARES MSCI AUSTRALIA INDEX F ETF 464286103 21,357 944,600 SH   SOLE   944,600 0 0
ISHARES MSCI CANADA INDEX ETF 464286509 32,009 1,190,829 SH   SOLE   1,190,829 0 0
ISHARES MSCI EAFE GROWTH ETF 464288885 8,881 127,808 SH   SOLE   127,808 0 0
ISHARES MSCI EAFE SMALL CAP ETF 464288273 6,785 125,322 SH   SOLE   125,322 0 0
ISHARES MSCI EAFE VALUE ETF 464288877 13,287 264,148 SH   SOLE   264,148 0 0
ISHARES MSCI EUROPE FINANCIALS ETF 464289180 5,486 270,000 SH   SOLE   270,000 0 0
ISHARES MSCI UNITED KINGDOM ETF 46435G334 8,499 261,110 SH   SOLE   261,110 0 0
ISHARES MSCI USA MOMENTUM FACT ETF 46432F396 5,008 60,595 SH   SOLE   60,595 0 0
ISHARES NASDAQ BIOTECH ETF 464287556 32,201 109,800 SH   SOLE   109,800 0 0
ISHARES RUSSELL 2000 VALUE ETF ETF 464287630 1,155 9,778 SH   SOLE   9,778 0 0
ISHARES S&P 500 GROWTH ETF ETF 464287309 19,327 146,954 SH   SOLE   146,954 0 0
ISHARES S&P 500 VALUE ETF ETF 464287408 26,043 250,321 SH   SOLE   250,321 0 0
ISHARES S&P MIDCAP 400/GROWTH ETF 464287606 17,338 90,816 SH   SOLE   90,816 0 0
ISHARES S&P MIDCAP 400/VALUE E ETF 464287705 14,110 95,048 SH   SOLE   95,048 0 0
ISHARES S&P SMALLCAP 600 ETF 464287804 1,002 14,486 SH   SOLE   14,486 0 0
JP MORGAN ALERIAN MLP ETF 46625H365 5,006 155,000 SH   SOLE   155,000 0 0
POWERSHARES BUYBACK ACHIEVERS ETF 73935X286 1,552 29,877 SH   SOLE   29,877 0 0
POWERSHARES S&P 500 QUALITY ETF 73935X682 9,104 332,619 SH   SOLE   332,619 0 0
RUSSELL 2000 INDEX FUND ETF 464287655 14,107 102,608 SH   SOLE   102,608 0 0
S&P 500 PURE GROWTH ETF 78355W403 3,686 41,104 SH   SOLE   41,104 0 0
S&P 500 PURE VALUE ETF 78355W304 4,660 79,176 SH   SOLE   79,176 0 0
SELECT SECTOR SPDR- REAL ESTAT ETF 81369Y860 26,074 825,127 SH   SOLE   825,127 0 0
SELECT SECTOR SPDR-CONSUMER DI ETF 81369Y407 103,594 1,177,870 SH   SOLE   1,177,870 0 0
SELECT SECTOR SPDR-ENERGY ETF 81369Y506 79,893 1,142,967 SH   SOLE   1,142,967 0 0
SELECT SECTOR SPDR-FINANCIAL ETF 81369Y605 112,843 4,755,283 SH   SOLE   4,755,283 0 0
SELECT SECTOR SPDR-HEALTH CARE ETF 81369Y209 113,012 1,519,790 SH   SOLE   1,519,790 0 0
SELECT SECTOR SPDR-INDUSTRIAL ETF 81369Y704 86,559 1,330,443 SH   SOLE   1,330,443 0 0
SELECT SECTOR SPDR-MATERIALS ETF 81369Y100 26,271 501,256 SH   SOLE   501,256 0 0
SELECT SECTOR SPDR-TECHNOLOGY ETF 81369Y803 175,853 3,298,695 SH   SOLE   3,298,695 0 0
SELECT SECTOR SPDR-UTILITIES ETF 81369Y886 62,059 1,209,500 SH   SOLE   1,209,500 0 0
SPDR S&P OIL & GAS EXPLORATION ETF 78464A730 9,135 244,000 SH   SOLE   244,000 0 0
SPDR-S&P 500 INDEX ETF 78462F103 6,106 25,900 SH   SOLE   25,900 0 0
VANGUARD FTSE EUROPE ETF ETF 922042874 13,820 267,990 SH   SOLE   267,990 0 0