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
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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
CLAYMORE EXCHANGE TRD FD TR GUGG FRNTR MKT 18383Q838 3,285 240,300 SH   SOLE   240,300 0 0
COLUMBIA ETF TR II INDIA INFRSR ETF 19762B806 6,968 525,500 SH   SOLE   525,500 0 0
COLUMBIA ETF TR II INDIA SML CP ETF 19762B889 3,576 185,500 SH   SOLE   185,500 0 0
GLOBAL X FDS MSCI GREECE ETF 37950E366 1,711 169,200 SH   SOLE   169,200 0 0
ISHARES MSCI FRNTR100ETF 464286145 11,788 412,400 SH   SOLE   412,400 0 0
ISHARES MSCI STH KOR ETF 464286772 33,905 500,000 SH Put SOLE   500,000 0 0
ISHARES GOLD TRUST ISHARES 464285105 37,932 3,176,800 SH   SOLE   3,176,800 0 0
ISHARES TR TIPS BD ETF 464287176 60,820 536,200 SH   SOLE   536,200 0 0
ISHARES TR CORE US AGGBD ET 464287226 5,261 48,000 SH   SOLE   48,000 0 0
ISHARES TR 7-10YR TR BD ETF 464287440 27,572 258,600 SH   SOLE   258,600 0 0
ISHARES TR MSCI ACWI ETF 464288257 116,353 1,776,700 SH   SOLE   1,776,700 0 0
ISHARES TR SHRT TRS BD ETF 464288679 25,670 232,700 SH   SOLE   232,700 0 0
ISHARES TR MSCI INDIA ETF 46429B598 13,307 414,500 SH   SOLE   414,500 0 0
ISHARES TR MSCI INDIA SM CP 46429B614 3,081 69,400 SH   SOLE   69,400 0 0
ISHARES U S ETF TR SHT MAT BD ETF 46431W507 44,819 891,600 SH   SOLE   891,600 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 64,616 469,500 SH   SOLE   469,500 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 12,982 110,000 SH Call SOLE   110,000 0 0
SPDR INDEX SHS FDS EURO STOXX 50 78463X202 67,460 1,753,600 SH   SOLE   1,753,600 0 0
SPDR INDEX SHS FDS EURO STOXX 50 78463X202 19,235 500,000 SH Call SOLE   500,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 16,094 66,600 SH   SOLE   66,600 0 0
SSGA ACTIVE ETF TR SPDR TR TACTIC 78467V848 17,481 355,200 SH   SOLE   355,200 0 0
UBS AG LONDON BRH VELOCITYSHS SHRT 90274D150 3,385 61,200 SH   SOLE   61,200 0 0
VANECK VECTORS ETF TR RARE EARTH STRAT 92189F742 3,160 180,500 SH   SOLE   180,500 0 0
VANGUARD INDEX FDS SM CP VAL ETF 922908611 44,065 358,500 SH   SOLE   358,500 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 10,807 264,700 SH   SOLE   264,700 0 0
WISDOMTREE TR JAPN HEDGE EQT 97717W851 14,106 271,300 SH   SOLE   271,300 0 0