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

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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
VanEck Vectors ETFs/USA VANECK VECTORS RUSSIA ETF 92189F403 126,750 6,611,900 SH   SOLE   6,611,900 0 0
JP Morgan ETNs/USA JPMORGAN ALERIAN MLP INDEX 46625H365 22,311 751,196 SH   SOLE   751,196 0 0
CME Group Inc CME GROUP INC 12572Q105 3,757 30,000 SH   SOLE   30,000 0 0
PowerShares ETFs/USA POWERSHARES EM MKT SOVR DEBT 73936T573 4,203 143,600 SH   SOLE   143,600 0 0
Vanguard ETF/USA VANGUARD REIT ETF 922908553 24,237 291,200 SH   SOLE   291,200 0 0
iShares ETFs/USA ISHARES MBS ETF 464288588 98,945 926,800 SH   SOLE   926,800 0 0
State Street ETF/USA UTILITIES SELECT SECTOR SPDR 81369Y886 27,689 532,900 SH   SOLE   532,900 0 0
iShares ETFs/USA ISHARES IBOXX USD HIGH YIELD 464288513 52,592 595,000 SH   SOLE   595,000 0 0
iShares ETFs/USA ISHARES IBOXX INVESTMENT GRA 464287242 54,989 456,300 SH   SOLE   456,300 0 0