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
VanEck Vectors ETFs/USA VANECK VECTORS RUSSIA ETF 92189F403 38,835 1,878,800 SH   SOLE   1,878,800 0 0
iShares ETFs/USA ISHARES MSCI CHILE CAPPED ET 464286640 4 100 SH   SOLE   100 0 0
JP Morgan ETNs/USA JPMORGAN ALERIAN MLP INDEX 46625H365 24,224 749,968 SH   SOLE   749,968 0 0
CME Group Inc CME GROUP INC 12572Q105 3,564 30,000 SH   SOLE   30,000 0 0
Powershares ETFs/USA POWERSHARES EM MKT SOVR DEBT 73936T573 4,138 142,400 SH   SOLE   142,400 0 0
Vanguard ETF/USA VANGUARD REIT ETF 922908553 28,626 346,600 SH   SOLE   346,600 0 0
iShares ETFs/USA ISHARES MBS ETF 464288588 92,049 863,900 SH   SOLE   863,900 0 0
State Street ETF/USA UTILITIES SELECT SECTOR SPDR 81369Y886 27,810 542,000 SH   SOLE   542,000 0 0
iShares ETFs/USA ISHARES IBOXX USD HIGH YIELD 464288513 27,185 309,700 SH   SOLE   309,700 0 0
iShares ETFs/USA ISHARES IBOXX INVESTMENT GRA 464287242 23,688 200,900 SH   SOLE   200,900 0 0