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
MERCADOLIBRE INC COM 58733R102 20,104 35,150 SH   SOLE   35,150 0 0
AMAZON.COM INC COM 023135106 4,435 2,400 SH   SOLE   2,400 0 0
ADOBE INC COM 00724F101 3,298 10,000 SH   SOLE   10,000 0 0
PETROLEO BRASIL-SP PREF ADR ADR 71654V101 8,952 600,000 SH   SOLE   600,000 0 0
PETROLEO BRASILEIRO-SPON ADR ADR 71654V408 3,188 200,000 SH   SOLE   200,000 0 0
ISHARES MSCI BRAZIL ETF ETF 464286400 11,127 234,500 SH   SOLE   234,500 0 0
GLOBAL X COPPER MINERS ETF ETF 37954Y830 3,586 176,470 SH   SOLE   176,470 0 0
ISHARES MSCI EMERGING MARKETS ETF 464287234 14,937 332,900 SH   SOLE   332,900 0 0
KRANESHARES CSI CHINA INTERN ETF 500767306 15,363 315,600 SH   SOLE   315,600 0 0
HEALTH CARE SELECT SECTOR ETF 81369Y209 0 0 SH   SOLE   0 0 0
ISHARES U.S. MEDICAL DEVICES E ETF 464288810 5,551 21,000 SH   SOLE   21,000 0 0
FACEBOOK INC-CLASS A COM 30303M102 13,341 65,000 SH   SOLE   65,000 0 0
ALIBABA GROUP HOLDING-SP ADR ADR 01609W102 3,182 15,000 SH   SOLE   15,000 0 0
ALPHABET INC-CL C COM 02079K107 4,546 3,400 SH   SOLE   3,400 0 0
TWILIO INC - A COM 90138F102 1,553 15,800 SH   SOLE   15,800 0 0
COUPA SOFTWARE INC COM 22266L106 2,194 15,000 SH   SOLE   15,000 0 0
SERVICENOW INC COM 81762P102 2,823 10,000 SH   SOLE   10,000 0 0
HUBSPOT INC COM 443573100 2,378 15,000 SH   SOLE   15,000 0 0
MICROSOFT CORP COM 594918104 5,520 35,000 SH   SOLE   35,000 0 0
ISHARES EDGE MSCI MIN VOL US ETF 46429B697 0 0 SH   SOLE   0 0 0
ANHEUSER-BUSCH INBEV-SPN ADR ADR 03524A108 2,051 25,000 SH   SOLE   25,000 0 0
SALESFORCE.COM INC COM 79466L302 6,506 40,000 SH   SOLE   40,000 0 0
INTUIT INC COM 461202103 2,619 10,000 SH   SOLE   10,000 0 0
ALTERYX INC - CLASS A COM 02156B103 3,002 30,000 SH   SOLE   30,000 0 0
FIDELITY NATIONAL INFO SERV COM 31620M106 4,173 30,000 SH   SOLE   30,000 0 0
PHILIP MORRIS INTERNATIONAL COM 718172109 2,978 35,000 SH   SOLE   35,000 0 0
VANGUARD FTSE EUROPE ETF ETF 922042874 23,440 400,000 SH   SOLE   400,000 0 0
JD.COM INC-ADR ADR 47215P106 3,875 110,000 SH   SOLE   110,000 0 0
FISERV INC COM 337738108 2,891 25,000 SH   SOLE   25,000 0 0
BRITISH AMERICAN TOB-SP ADR ADR 110448107 1,062 25,000 SH   SOLE   25,000 0 0
ISHARES MSCI UNITED KINGDOM ETF 46435G334 5,115 150,000 SH   SOLE   150,000 0 0
SHERWIN-WILLIAMS CO/THE COM 824348106 8,385 14,370 SH   SOLE   14,370 0 0
ECOLAB INC COM 278865100 1,718 8,900 SH   SOLE   8,900 0 0
NIKE INC -CL B COM 654106103 5,096 50,300 SH   SOLE   50,300 0 0
SHERWIN-WILLIAMS CO/THE COM 824348106 17,127 29,350 SH   SOLE   29,350 0 0
ECOLAB INC COM 278865100 5,280 27,360 SH   SOLE   27,360 0 0
ISHARES CONVERTIBLE BOND ETF ETF 46435G102 117,268 1,870,000 SH   SOLE   1,870,000 0 0
NATIONAL BANK HOLD-CL A COM 633707104 312 8,872 SH   SOLE   8,872 0 0
NATIONAL GENERAL HLDGS COM 636220303 821 37,143 SH   SOLE   37,143 0 0
NATURAL GAS SERVICES GROUP COM 63886Q109 102 8,344 SH   SOLE   8,344 0 0
PACIFIC PREMIER BANCORP INC COM 69478X105 893 27,402 SH   SOLE   27,402 0 0
ECHOSTAR CORP-A COM 278768106 1,040 24,016 SH   SOLE   24,016 0 0
PRIMERICA INC COM 74164M108 785 6,010 SH   SOLE   6,010 0 0
NEENAH INC COM 640079109 193 2,739 SH   SOLE   2,739 0 0
MCGRATH RENTCORP COM 580589109 1,021 13,340 SH   SOLE   13,340 0 0
ASSURANT INC COM 04621X108 990 7,555 SH   SOLE   7,555 0 0
NEXSTAR MEDIA GROUP INC-CL A COM 65336K103 1,360 11,600 SH   SOLE   11,600 0 0
PROVIDENCE SERVICE CORP COM 743815102 753 12,731 SH   SOLE   12,731 0 0
REX AMERICAN RESOURCES CORP COM 761624105 459 5,599 SH   SOLE   5,599 0 0
WASHINGTON FEDERAL INC COM 938824109 778 21,231 SH   SOLE   21,231 0 0
DENNY'S CORP COM 24869P104 599 30,130 SH   SOLE   30,130 0 0
MURPHY USA INC COM 626755102 761 6,503 SH   SOLE   6,503 0 0
TRIUMPH BANCORP INC COM 89679E300 645 16,961 SH   SOLE   16,961 0 0
CTS CORP COM 126501105 276 9,198 SH   SOLE   9,198 0 0
CONS TOMOKA LAND CO-FLORIDA COM 210226106 104 1,723 SH   SOLE   1,723 0 0
REGIS CORP COM 758932107 761 42,559 SH   SOLE   42,559 0 0
ALBANY INTL CORP-CL A COM 012348108 1,245 16,402 SH   SOLE   16,402 0 0
SPECTRUM BRANDS HOLDINGS INC COM 84790A105 652 10,140 SH   SOLE   10,140 0 0
CENTURY CASINOS INC COM 156492100 158 20,007 SH   SOLE   20,007 0 0
MRC GLOBAL INC COM 55345K103 671 49,220 SH   SOLE   49,220 0 0
MUELLER WATER PRODUCTS INC-A COM 624758108 971 81,088 SH   SOLE   81,088 0 0
SIMPSON MANUFACTURING CO INC COM 829073105 799 9,964 SH   SOLE   9,964 0 0
OCEANFIRST FINANCIAL CORP COM 675234108 741 29,029 SH   SOLE   29,029 0 0
CENTRAL PACIFIC FINANCIAL CO COM 154760409 441 14,912 SH   SOLE   14,912 0 0
TRISTATE CAPITAL HLDGS INC COM 89678F100 822 31,466 SH   SOLE   31,466 0 0
ARES CAPITAL CORP COM 04010L103 681 36,510 SH   SOLE   36,510 0 0
VIRTUS INVESTMENT PARTNERS COM 92828Q109 1,188 9,756 SH   SOLE   9,756 0 0
FEDERAL SIGNAL CORP COM 313855108 619 19,208 SH   SOLE   19,208 0 0
STAR GROUP LP COM 85512C105 333 35,200 SH   SOLE   35,200 0 0
MAXIMUS INC COM 577933104 815 10,957 SH   SOLE   10,957 0 0
GCI LIBERTY INC - CLASS A COM 36164V305 1,157 16,325 SH   SOLE   16,325 0 0
KADANT INC COM 48282T104 1,001 9,500 SH   SOLE   9,500 0 0
EXTENDED STAY AMERICA INC COM 30224P200 1,255 84,441 SH   SOLE   84,441 0 0
XENIA HOTELS & RESORTS INC COM 984017103 849 39,285 SH   SOLE   39,285 0 0
MFA FINANCIAL INC COM 55272X102 833 108,827 SH   SOLE   108,827 0 0
WADDELL & REED FINANCIAL-A COM 930059100 460 27,528 SH   SOLE   27,528 0 0
WESBANCO INC COM 950810101 188 4,962 SH   SOLE   4,962 0 0
HUDSON LTD-CLASS A COM G46408103 634 41,311 SH   SOLE   41,311 0 0
CRA INTERNATIONAL INC COM 12618T105 498 9,143 SH   SOLE   9,143 0 0
MAGELLAN HEALTH INC COM 559079207 990 12,658 SH   SOLE   12,658 0 0
LANDMARK INFRASTRUCTURE PART COM 51508J108 149 9,107 SH   SOLE   9,107 0 0
DICK'S SPORTING GOODS INC COM 253393102 721 14,568 SH   SOLE   14,568 0 0
ESSENTIAL PROPERTIES REALTY COM 29670E107 1,152 46,443 SH   SOLE   46,443 0 0
EAGLE MATERIALS INC COM 26969P108 1,342 14,805 SH   SOLE   14,805 0 0
PEAPACK GLADSTONE FINL CORP COM 704699107 366 11,841 SH   SOLE   11,841 0 0
LYDALL INC COM 550819106 205 10,008 SH   SOLE   10,008 0 0
HOWARD BANCORP INC COM 442496105 186 11,015 SH   SOLE   11,015 0 0
RENASANT CORP COM 75970E107 618 17,459 SH   SOLE   17,459 0 0
BARINGS BDC INC COM 06759L103 636 61,871 SH   SOLE   61,871 0 0
CORE-MARK HOLDING CO INC COM 218681104 737 27,109 SH   SOLE   27,109 0 0
CABOT MICROELECTRONICS CORP COM 12709P103 886 6,142 SH   SOLE   6,142 0 0
DESIGNER BRANDS INC-CLASS A COM 250565108 602 38,243 SH   SOLE   38,243 0 0
DELUXE CORP COM 248019101 859 17,204 SH   SOLE   17,204 0 0
VIAD CORP COM 92552R406 216 3,201 SH   SOLE   3,201 0 0
CONTINENTAL BUILDING PRODUCT COM 211171103 484 13,280 SH   SOLE   13,280 0 0
NESCO HOLDINGS INC COM 64083J104 45 10,864 SH   SOLE   10,864 0 0
CULP INC COM 230215105 83 6,122 SH   SOLE   6,122 0 0
SOUTH MOUNTAIN MERGER CORP COM 838884203 307 29,438 SH   SOLE   29,438 0 0
UMB FINANCIAL CORP COM 902788108 777 11,319 SH   SOLE   11,319 0 0
AMERIS BANCORP COM 03076K108 830 19,512 SH   SOLE   19,512 0 0
KAR AUCTION SERVICES INC COM 48238T109 523 24,011 SH   SOLE   24,011 0 0
ALERUS FINANCIAL CORP COM 01446U103 117 5,130 SH   SOLE   5,130 0 0
KONTOOR BRANDS INC COM 50050N103 828 19,713 SH   SOLE   19,713 0 0
PC CONNECTION INC COM 69318J100 273 5,504 SH   SOLE   5,504 0 0
CARDTRONICS PLC - A COM G1991C105 905 20,259 SH   SOLE   20,259 0 0
SOLARIS OILFIELD INFRAST-A COM 83418M103 123 8,795 SH   SOLE   8,795 0 0
VERITEX HOLDINGS INC COM 923451108 348 11,945 SH   SOLE   11,945 0 0