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
Broadcom Ltd SHS Y09827109 166 646 SH   SOLE   646 0 0
Mastercard Inc CL A 57636Q104 311 2,054 SH   SOLE   2,054 0 0
TAL Education Group COM 874080104 42,365 1,425,937 SH   SOLE   1,425,937 0 0
TAL Education Group COM 874080104 6,561 220,828 SH   DFND 1 220,828 0 0
Crown Castle International Cor NEW COM 22822V101 28 250 SH   SOLE   250 0 0
iShares Core MSCI Emerging Mar CORE MSCI EMKT 46434G103 902 15,851 SH   DFND 1 15,851 0 0
Yum China Holdings Inc COM 98850P109 1,143 28,564 SH   DFND 1 28,564 0 0
GDS Holdings Ltd SPONSORED ADR 36165L108 133 5,902 SH   SOLE   5,902 0 0
Citigroup Inc COM NEW 172967424 204 2,743 SH   SOLE   2,743 0 0
Taubman Centers Inc COM 876664103 33 500 SH   SOLE   500 0 0
Humana Inc COM 444859102 110 442 SH   SOLE   442 0 0
iShares MSCI Thailand ETF ETF 464286624 137 1,482 SH   DFND 1 1,482 0 0
Simon Property Group Inc NEW COM 828806109 84 491 SH   SOLE   491 0 0
Washington Prime Group Inc COM 93964W108 7 1,000 SH   SOLE   1,000 0 0
Biogen Inc COM 09062X103 55 173 SH   SOLE   173 0 0
City Office REIT Inc COM 178587101 52 4,000 SH   SOLE   4,000 0 0
Valero Energy Corp NEW COM 91913Y100 135 1,468 SH   SOLE   1,468 0 0
American Homes 4 Rent CL A 02665T306 26 1,200 SH   SOLE   1,200 0 0
Broadridge Financial Solutions COM 11133T103 39 435 SH   SOLE   435 0 0
Extended Stay America Inc UNIT 99/99/9999B 30224P200 32 1,700 SH   SOLE   1,700 0 0
Lear Corp COM NEW 521865204 85 479 SH   SOLE   479 0 0
CyrusOne Inc COM 23283R100 36 600 SH   SOLE   600 0 0
Turquoise Hill Resources Ltd COM 900435108 370 107,873 SH   DFND 1 107,873 0 0
Texas Instruments Inc COM 882508104 152 1,451 SH   SOLE   1,451 0 0
Vornado Realty Trust SH BEN INT 929042109 86 1,100 SH   SOLE   1,100 0 0
Intuitive Surgical Inc COM NEW 46120E602 189 519 SH   SOLE   519 0 0
ANSYS Inc COM 03662Q105 17 115 SH   SOLE   115 0 0
Rexford Industrial Realty Inc COM 76169C100 41 1,400 SH   SOLE   1,400 0 0
Apartment Investment & Managem CL A 03748R101 74 1,690 SH   SOLE   1,690 0 0
Huntsman Corp COM 447011107 140 4,220 SH   SOLE   4,220 0 0
Becton Dickinson and Co COM 075887109 160 746 SH   SOLE   746 0 0
iShares MSCI Hong Kong ETF ETF 464286871 142 5,580 SH   DFND 1 5,580 0 0
EMCOR Group Inc COM 29084Q100 52 634 SH   SOLE   634 0 0
Alphabet Inc CAP STK CL A 02079K305 28,279 26,845 SH   SOLE   26,845 0 0
Alexander & Baldwin Inc COM 014491104 25 900 SH   SOLE   900 0 0
Forest City Realty Trust Inc COM CL A 345605109 72 3,000 SH   SOLE   3,000 0 0
AvalonBay Communities Inc COM 053484101 89 500 SH   SOLE   500 0 0
Intuit Inc COM 461202103 129 818 SH   SOLE   818 0 0
RLJ Lodging Trust COM 74965L101 96 4,364 SH   SOLE   4,364 0 0
Applied Materials Inc COM 038222105 222 4,348 SH   SOLE   4,348 0 0
Invitation Homes Inc COM 46187W107 85 3,600 SH   SOLE   3,600 0 0
Physicians Realty Trust COM 71943U104 63 3,500 SH   SOLE   3,500 0 0
Acadia Realty Trust COM SH BEN INT 004239109 52 1,900 SH   SOLE   1,900 0 0
Essex Property Trust Inc COM 297178105 66 274 SH   SOLE   274 0 0
iShares MSCI Canada ETF ETF 464286509 289 9,767 SH   DFND 1 9,767 0 0
iShares MSCI ACWI ETF ETF 464288257 146 2,022 SH   DFND 1 2,022 0 0
Fidelity National Information COM 31620M106 48 511 SH   SOLE   511 0 0
Waste Management Inc COM 94106L109 54 630 SH   SOLE   630 0 0
S&P Global Inc COM 78409V104 95 560 SH   SOLE   560 0 0
iShares Russell 3000 ETF RUSSELL 3000 ETF 464287689 0 1 SH   SOLE   1 0 0
CubeSmart COM 229663109 78 2,700 SH   SOLE   2,700 0 0
Pennsylvania Real Estate Inves SH BEN INT 709102107 13 1,100 SH   SOLE   1,100 0 0
Cabot Oil & Gas Corp COM 127097103 47 1,650 SH   SOLE   1,650 0 0
iShares MSCI Eurozone ETF MSCI EURZONE ETF 464286608 1,939 44,694 SH   DFND 1 44,694 0 0
Skechers U.S.A. Inc CL A 830566105 89 2,350 SH   SOLE   2,350 0 0
iShares MSCI Poland ETF ETF 46429B606 71 2,611 SH   DFND 1 2,611 0 0
Kohl's Corp COM 500255104 72 1,319 SH   SOLE   1,319 0 0
iShares MSCI All Country Asia MSCI AC ASIA ETF 464288182 1,383 18,126 SH   DFND 1 18,126 0 0
United States Brent Oil Fund L UNIT 91167Q100 950 52,484 SH   SOLE   52,484 0 0
iShares Asia 50 ETF ETF 464288430 852 12,906 SH   DFND 1 12,906 0 0
iShares MSCI Emerging Markets MSCI EMG MKT ETF 464287234 115 2,431 SH   SOLE   2,431 0 0
iShares MSCI Emerging Markets MSCI EMG MKT ETF 464287234 2,093 44,426 SH   DFND 1 44,426 0 0
Hutchison China MediTech Ltd SPONSORED ADR 44842L103 5,581 141,587 SH   SOLE   141,587 0 0
Hutchison China MediTech Ltd SPONSORED ADR 44842L103 4,753 120,573 SH   DFND 1 120,573 0 0
Santander Consumer USA Holding COM 80283M101 82 4,399 SH   SOLE   4,399 0 0
Ameriprise Financial Inc COM 03076C106 19 114 SH   SOLE   114 0 0
Extra Space Storage Inc COM 30225T102 59 669 SH   SOLE   669 0 0
Bright Scholar Education Holdi SPONSORED ADS 109199109 5,834 312,490 SH   SOLE   312,490 0 0
Bright Scholar Education Holdi SPONSORED ADS 109199109 671 35,939 SH   DFND 1 35,939 0 0
Square Inc CL A 852234103 131 3,783 SH   SOLE   3,783 0 0
PowerShares DB Oil Fund DB OIL FUND 73936B507 867 85,418 SH   SOLE   85,418 0 0
Liberty Property Trust SH BEN INT 531172104 34 800 SH   SOLE   800 0 0
iShares MSCI China ETF MSCI CHINA ETF 46429B671 618 9,293 SH   DFND 1 9,293 0 0
Union Pacific Corp COM 907818108 200 1,488 SH   SOLE   1,488 0 0
Kilroy Realty Corp COM 49427F108 80 1,073 SH   SOLE   1,073 0 0
Cirrus Logic Inc COM 172755100 61 1,172 SH   SOLE   1,172 0 0
Macy's Inc COM 55616P104 57 2,280 SH   SOLE   2,280 0 0
Fifth Third Bancorp COM 316773100 148 4,883 SH   SOLE   4,883 0 0
Brixmor Property Group Inc COM 11120U105 45 2,402 SH   SOLE   2,402 0 0
WellCare Health Plans Inc COM 94946T106 66 330 SH   SOLE   330 0 0
DDR Corp COM 23317H102 20 2,200 SH   SOLE   2,200 0 0
RMR Group Inc/The CL A 74967R106 0 5 SH   SOLE   5 0 0
Hillenbrand Inc COM 431571108 110 2,463 SH   SOLE   2,463 0 0
Quest Diagnostics Inc COM 74834L100 44 450 SH   SOLE   450 0 0
Kennedy-Wilson Holdings Inc COM 489398107 28 1,600 SH   SOLE   1,600 0 0
Hilton Worldwide Holdings Inc WHEN ISSUED 43300A203 68 850 SH   SOLE   850 0 0
Tesla Inc COM 88160R101 27,321 87,749 SH   SOLE   87,749 0 0
Costco Wholesale Corp COM 22160K105 75 403 SH   SOLE   403 0 0
Walt Disney Co/The COM DISNEY 254687106 91 848 SH   SOLE   848 0 0
American Express Co COM 025816109 187 1,888 SH   SOLE   1,888 0 0
Arista Networks Inc COM 040413106 2,356 10,000 SH   SOLE   10,000 0 0
Uniti Group Inc COM 91325V108 317 17,800 SH   SOLE   17,800 0 0
Uniti Group Inc COM 91325V108 222 12,500 SH   DFND 1 12,500 0 0
Tailored Brands Inc COM 87403A107 93 4,281 SH   SOLE   4,281 0 0
ETFS Physical Swiss Gold Share SHS 26922Y105 2,392 18,964 SH   SOLE   18,964 0 0
Verizon Communications Inc COM 92343V104 91 1,725 SH   SOLE   1,725 0 0
Spirit AeroSystems Holdings In CL A 848574109 60 683 SH   SOLE   683 0 0
Johnson & Johnson COM 478160104 48 347 SH   SOLE   347 0 0
Continental Resources Inc/OK COM 212015101 96 1,805 SH   SOLE   1,805 0 0
UnitedHealth Group Inc COM 91324P102 424 1,924 SH   SOLE   1,924 0 0
iShares MSCI India ETF ETF 46429B598 72 2,000 SH   DFND 1 2,000 0 0
SPDR Gold Shares GOLD SHS 78463V107 4,784 38,691 SH   SOLE   38,691 0 0
Empire State Realty Trust Inc CL A 292104106 12 600 SH   SOLE   600 0 0
Ally Financial Inc COM 02005N100 132 4,517 SH   SOLE   4,517 0 0
Lockheed Martin Corp COM 539830109 457 1,424 SH   SOLE   1,424 0 0
Alibaba Group Holding Ltd SPONSORED ADS 01609W102 118,688 688,324 SH   SOLE   688,324 0 0
Alibaba Group Holding Ltd SPONSORED ADS 01609W102 44,181 256,226 SH   DFND 1 256,226 0 0
Advanced Micro Devices Inc COM 007903107 36 3,457 SH   SOLE   3,457 0 0
Kite Realty Group Trust COM NEW 49803T300 67 3,400 SH   SOLE   3,400 0 0
Life Storage Inc COM 53223X107 27 300 SH   SOLE   300 0 0
Barclays Bank PLC IPATH S&P500 VIX 06746L422 55 1,981 SH   SOLE   1,981 0 0
Global X Robotics & Artificial RBTCS ARTFL INTE 37954Y715 155 6,556 SH   SOLE   6,556 0 0
SPDR Dow Jones Industrial Aver UT SER 1 78467X109 1,512 6,112 SH   DFND 1 6,112 0 0
SPDR S&P 500 ETF Trust TR UNIT 78462F103 1,251 4,686 SH   DFND 1 4,686 0 0
Facebook Inc CL A 30303M102 33,773 191,390 SH   SOLE   191,390 0 0
Duke Realty Corp COM NEW 264411505 54 1,996 SH   SOLE   1,996 0 0
Anthem Inc COM 036752103 55 244 SH   SOLE   244 0 0
iShares MSCI Taiwan ETF ETF 46434G772 652 18,001 SH   DFND 1 18,001 0 0
McDonald's Corp COM 580135101 182 1,057 SH   SOLE   1,057 0 0
Gilead Sciences Inc COM 375558103 81 1,124 SH   SOLE   1,124 0 0
Edwards Lifesciences Corp COM 28176E108 33 291 SH   SOLE   291 0 0
Children's Place Inc/The COM 168905107 143 986 SH   SOLE   986 0 0
Intel Corp COM 458140100 222 4,814 SH   SOLE   4,814 0 0
Baxter International Inc COM 071813109 189 2,928 SH   SOLE   2,928 0 0
United States Oil Fund LP UNITS 91232N108 788 65,575 SH   SOLE   65,575 0 0
iShares Core S&P 500 ETF ETF 464287200 862 3,205 SH   SOLE   3,205 0 0
Universal Display Corp COM 91347P105 1,848 10,705 SH   SOLE   10,705 0 0
Xilinx Inc COM 983919101 61 899 SH   SOLE   899 0 0
Morgan Stanley COM NEW 617446448 127 2,427 SH   SOLE   2,427 0 0
Credit Acceptance Corp COM 225310101 198 612 SH   SOLE   612 0 0
Chemed Corp COM 16359R103 57 234 SH   SOLE   234 0 0
iShares MSCI Philippines ETF ETF 46429B408 70 1,792 SH   DFND 1 1,792 0 0
salesforce.com Inc COM 79466L302 65 638 SH   SOLE   638 0 0
China Lodging Group Ltd SPONSORED ADR 16949N109 2,889 20,000 SH   SOLE   20,000 0 0
Ross Stores Inc COM 778296103 159 1,985 SH   SOLE   1,985 0 0
Netflix Inc COM 64110L106 168 875 SH   SOLE   875 0 0
Macerich Co/The COM 554382101 46 700 SH   SOLE   700 0 0
Lions Gate Entertainment Corp CL A VTG 535919401 20 589 SH   SOLE   589 0 0
Centene Corp COM 15135B101 115 1,138 SH   SOLE   1,138 0 0
JPMorgan Chase & Co COM 46625H100 140 1,310 SH   SOLE   1,310 0 0
Nordstrom Inc COM 655664100 115 2,425 SH   SOLE   2,425 0 0
Take-Two Interactive Software COM 874054109 78 713 SH   SOLE   713 0 0
Hilton Grand Vacations Inc COM 43283X105 98 2,325 SH   SOLE   2,325 0 0
PulteGroup Inc COM 745867101 58 1,746 SH   SOLE   1,746 0 0
PepsiCo Inc COM 713448108 183 1,528 SH   SOLE   1,528 0 0
Boyd Gaming Corp COM 103304101 94 2,686 SH   SOLE   2,686 0 0
Weibo Corp SPONSORED ADR 948596101 5,173 50,000 SH   SOLE   50,000 0 0
AbbVie Inc COM 00287Y109 198 2,050 SH   SOLE   2,050 0 0
PayPal Holdings Inc COM 70450Y103 211 2,863 SH   SOLE   2,863 0 0
Mohawk Industries Inc COM 608190104 114 412 SH   SOLE   412 0 0
Caterpillar Inc COM 149123101 131 830 SH   SOLE   830 0 0
DCT Industrial Trust Inc COM NEW 233153204 61 1,030 SH   SOLE   1,030 0 0
Sun Communities Inc COM 866674104 46 500 SH   SOLE   500 0 0
Align Technology Inc COM 016255101 315 1,418 SH   SOLE   1,418 0 0
Visa Inc COM CL A 92826C839 388 3,407 SH   SOLE   3,407 0 0
United States 12 Month Oil Fun UNIT BEN INT 91288V103 1,009 48,224 SH   SOLE   48,224 0 0
Home Depot Inc/The COM 437076102 329 1,736 SH   SOLE   1,736 0 0
iShares Europe ETF COM 464287861 353 7,470 SH   SOLE   7,470 0 0
VF Corp COM 918204108 50 678 SH   SOLE   678 0 0
Apple Inc COM 037833100 1,571 9,283 SH   SOLE   9,283 0 0
Constellation Brands Inc CL A 21036P108 99 431 SH   SOLE   431 0 0
NVIDIA Corp COM 67066G104 43,277 223,653 SH   SOLE   223,653 0 0
iShares 20 Year Treasury Bond 20 YR TR BD ETF 464287432 2,224 17,530 SH   SOLE   17,530 0 0
Terreno Realty Corp COM 88146M101 46 1,300 SH   SOLE   1,300 0 0
Aetna Inc COM 00817Y108 180 1,000 SH   SOLE   1,000 0 0
CoreSite Realty Corp COM 21870Q105 23 200 SH   SOLE   200 0 0
UDR Inc COM 902653104 35 900 SH   SOLE   900 0 0
Paramount Group Inc COM 69924R108 25 1,600 SH   SOLE   1,600 0 0
Michael Kors Holdings Ltd SHS G60754101 190 3,014 SH   SOLE   3,014 0 0
Adobe Systems Inc COM 00724F101 212 1,210 SH   SOLE   1,210 0 0
Aptiv PLC SHS G6095L109 92 1,086 SH   SOLE   1,086 0 0
HCP Inc COM 40414L109 60 2,300 SH   SOLE   2,300 0 0
iShares MSCI South Korea ETF ETF 464286772 1,005 13,406 SH   SOLE   13,406 0 0
Capital One Financial Corp COM 14040H105 271 2,723 SH   SOLE   2,723 0 0
JD.com Inc SPON ADR CL A 47215P106 4,142 100,000 SH   SOLE   100,000 0 0
Equity Residential SH BEN INT 29476L107 64 1,000 SH   SOLE   1,000 0 0
iShares Gold Trust ISHARES 464285105 3,850 307,721 SH   SOLE   307,721 0 0
CBL & Associates Properties In COM 124830100 7 1,300 SH   SOLE   1,300 0 0
Bank of America Corp COM 060505104 185 6,251 SH   SOLE   6,251 0 0
Vanguard S&P 500 ETF S&P 500 ETF SHS 922908363 2,029 8,273 SH   DFND 1 8,273 0 0
Boeing Co/The COM 097023105 409 1,387 SH   SOLE   1,387 0 0
Corning Inc COM 219350105 18 572 SH   SOLE   572 0 0
GGP Inc COM 36174X101 173 7,400 SH   DFND 1 7,400 0 0
Stryker Corp COM 863667101 93 600 SH   SOLE   600 0 0
American Assets Trust Inc COM 024013104 31 800 SH   SOLE   800 0 0
Citizens Financial Group Inc COM 174610105 77 1,829 SH   SOLE   1,829 0 0
Hersha Hospitality Trust PR SHS BEN INT 427825500 47 2,700 SH   SOLE   2,700 0 0
iShares MSCI Malaysia ETF MSCI MLY ETF NEW 46434G814 133 4,035 SH   SOLE   4,035 0 0
QTS Realty Trust Inc COM CL A 74736A103 81 1,500 SH   SOLE   1,500 0 0
Prologis Inc COM 74340W103 116 1,800 SH   SOLE   1,800 0 0
VanEck Vectors Gold Miners ETF GOLD MINERS ETF 92189F106 419 18,031 SH   SOLE   18,031 0 0
SEI Investments Co COM 784117103 96 1,332 SH   SOLE   1,332 0 0
Regency Centers Corp COM 758849103 14 200 SH   DFND 1 200 0 0
Brookdale Senior Living Inc COM 112463104 55 5,700 SH   DFND 1 5,700 0 0
Amazon.com Inc COM 023135106 27,243 23,295 SH   SOLE   23,295 0 0
Northrop Grumman Corp COM 666807102 147 480 SH   SOLE   480 0 0
NetEase Inc SPONSORED ADR 64110W102 120 348 SH   SOLE   348 0 0
Big Lots Inc COM 089302103 63 1,122 SH   SOLE   1,122 0 0
New Oriental Education & Techn SPON ADR 647581107 60,001 638,309 SH   SOLE   638,309 0 0
New Oriental Education & Techn SPON ADR 647581107 9,759 103,822 SH   DFND 1 103,822 0 0
SL Green Realty Corp COM 78440X101 91 900 SH   SOLE   900 0 0
Estee Lauder Cos Inc/The CL A 518439104 126 991 SH   SOLE   991 0 0
Aflac Inc COM 001055102 53 609 SH   SOLE   609 0 0
Altisource Residential Corp CL B 02153W100 587 49,534 SH   SOLE   49,534 0 0
Altisource Residential Corp CL B 02153W100 303 25,588 SH   DFND 1 25,588 0 0
Wal-Mart Stores Inc COM 931142103 181 1,833 SH   SOLE   1,833 0 0
Gap Inc/The COM 364760108 88 2,597 SH   SOLE   2,597 0 0
Baozun Inc SPONSORED ADR 06684L103 3,910 123,878 SH   DFND 1 123,878 0 0
3M Co COM 88579Y101 220 936 SH   SOLE   936 0 0
Honeywell International Inc COM 438516106 311 2,029 SH   SOLE   2,029 0 0
Royal Caribbean Cruises Ltd COM V7780T103 103 865 SH   SOLE   865 0 0
Baidu Inc SPON ADR REP A 056752108 70,689 301,817 SH   SOLE   301,817 0 0
Baidu Inc SPON ADR REP A 056752108 21,954 93,735 SH   DFND 1 93,735 0 0
Carnival Corp UNIT 99/99/9999 143658300 61 925 SH   DFND 1 925 0 0
iShares Currency Hedged MSCI J HDG MSCI JAPAN 46434V886 889 26,665 SH   SOLE   26,665 0 0
Microsoft Corp COM 594918104 1,057 12,362 SH   SOLE   12,362 0 0
Dana Inc COM 235825205 37 1,158 SH   SOLE   1,158 0 0
EastGroup Properties Inc COM 277276101 27 300 SH   SOLE   300 0 0
Hudson Pacific Properties Inc COM 444097109 69 2,000 SH   SOLE   2,000 0 0
Boston Properties Inc COM 101121101 52 400 SH   SOLE   400 0 0
Alexandria Real Estate Equitie COM 015271109 91 694 SH   SOLE   694 0 0
Express Scripts Holding Co COM 30219G108 183 2,458 SH   SOLE   2,458 0 0
ITT Inc COM 45073V108 18 333 SH   SOLE   333 0 0
American Tower Corp COM 03027X100 143 1,000 SH   SOLE   1,000 0 0
Mid-America Apartment Communit COM 59522J103 36 359 SH   SOLE   359 0 0
Digital Realty Trust Inc COM 253868103 46 400 SH   SOLE   400 0 0
NetApp Inc COM 64110D104 37 663 SH   SOLE   663 0 0
Micron Technology Inc COM 595112103 59 1,430 SH   SOLE   1,430 0 0