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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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
ALLERGAN PLC SHS G0177J108 15,045 65,324 SH   SOLE   65,324 0 0
ALPHABET INC CAP STK CL A 02079K305 58,921 73,279 SH   SOLE   73,279 0 0
AMAZON COM INC COM 023135106 35,753 42,700 SH   SOLE   42,700 0 0
AMERICAN INTL GROUP INC COM NEW 026874784 28,483 480,000 SH   SOLE   480,000 0 0
APOLLO COML REAL EST FIN INC COM 03762U105 35,897 2,192,855 SH   SOLE   2,192,855 0 0
APPLE INC COM 037833100 4,522 40,000 SH   SOLE   40,000 0 0
APPLIED MATLS INC COM 038222105 16,974 563,000 SH   SOLE   563,000 0 0
AUSTRALIA & NEW ZEALA BKG 14 DEBT 4.400% 5/1 Q0426RND6 49,977 50,000,000 SH   SOLE   0 0 50,000,000
AUTOLIV INC COM 052800109 713 6,680 SH   SOLE   6,680 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 80,551 1,493,907 SH   SOLE   1,493,907 0 0
CELGENE CORP COM 151020104 44,249 423,310 SH   SOLE   423,310 0 0
CTRIP COM INTL LTD AMERICAN DEP SHS 22943F100 39,257 842,962 SH   SOLE   105,370 0 0
CUMMINS INC COM 231021106 4,101 32,000 SH   SOLE   32,000 0 0
DIREXION SHS ETF TR 20YR TRES BEAR 25459Y678 22,175 1,343,100 SH   SOLE   1,343,100 0 0
EOG RES INC COM 26875P101 40,512 418,903 SH   SOLE   418,903 0 0
ETF MANAGERS TR PUREFUNDS ISE CY 26924G201 6,720 240,861 SH   SOLE   240,861 0 0
EXXON MOBIL CORP COM 30231G102 44,176 506,144 SH   SOLE   506,144 0 0
FACEBOOK INC CL A 30303M102 63,868 497,922 SH   SOLE   497,922 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 14,192 88,000 SH   SOLE   88,000 0 0
HIMAX TECHNOLOGIES INC SPONSORED ADR 43289P106 12,104 1,409,100 SH   SOLE   1,409,100 0 0
ISHARES MSCI JAPAN ETF 464286848 3,185 253,970 SH   SOLE   253,970 0 0
ISHARES MSCI ITALCPD ETF 464286855 3,138 284,725 SH   SOLE   284,725 0 0
ISHARES MIN VOL EMRG MKT 464286533 10,416 192,678 SH   SOLE   192,678 0 0
ISHARES INC CORE MSCI EMKT 46434G103 11,057 242,424 SH   SOLE   242,424 0 0
ISHARES TR GLOB HLTHCRE ETF 464287325 12,574 124,814 SH   SOLE   124,814 0 0
ISHARES TR U.S. FINLS ETF 464287788 5,400 60,000 SH   SOLE   60,000 0 0
ISHARES TR IBOXX HI YD ETF 464288513 332,879 3,814,800 SH   SOLE   3,814,800 0 0
ISHARES TR NASDQ BIOTEC ETF 464287556 4,342 15,000 SH   SOLE   15,000 0 0
ISHARES TR CHINA ETF 46429B671 5,306 109,400 SH   SOLE   109,400 0 0
JD COM INC SPON ADR CL A 47215P106 53,916 2,066,540 SH   SOLE   2,066,540 0 0
KIMBERLY CLARK CORP COM 494368103 10,974 87,000 SH   SOLE   87,000 0 0
KINDER MORGAN INC DEL COM 49456B101 109,349 4,727,587 SH   SOLE   4,727,587 0 0
LEVEL 3 COMMUNICATIONS INC COM NEW 52729N308 22,015 474,671 SH   SOLE   474,671 0 0
MASTERCARD INC CL A 57636Q104 45,047 442,633 SH   SOLE   442,633 0 0
MCDONALDS CORP COM 580135101 18,655 161,715 SH   SOLE   161,715 0 0
MOBILEYE N V AMSTELVEEN ORD SHS N51488117 13,720 322,300 SH   SOLE   322,300 0 0
MONSANTO CO NEW COM 61166W101 4,066 39,787 SH   SOLE   39,787 0 0
NEW RESIDENTIAL INVT CORP COM NEW 64828T201 53,618 3,882,577 SH   SOLE   3,882,577 0 0
NIKE INC CL B 654106103 81,719 1,552,127 SH   SOLE   1,552,127 0 0
NOVO-NORDISK A S ADR 670100205 27,306 656,541 SH   SOLE   0 0 656,541
NXP SEMICONDUCTORS N V COM N6596X109 10,915 107,000 SH   SOLE   107,000 0 0
ORACLE CORP COM 68389X105 15,712 400,000 SH   SOLE   400,000 0 0
PALO ALTO NETWORKS INC COM 697435105 69,884 438,609 SH   SOLE   438,609 0 0
PHILLIPS 66 COM 718546104 148,595 1,844,749 SH   SOLE   1,844,749 0 0
POWERSHARES ETF TRUST II SENIOR LN PORT 73936Q769 214,047 9,222,195 SH   SOLE   9,222,195 0 0
PROSHARES TR PSHS ULTSH 20YRS 74347B201 158,221 5,007,000 SH   SOLE   5,007,000 0 0
PROSHARES TR SHRT 20+YR TRE 74347X849 42,000 2,000,000 SH   SOLE   2,000,000 0 0
PROSHARES TR S&P 500 DV ARIST 74348A467 1,586 29,200 SH   SOLE   29,200 0 0
SCHLUMBERGER LTD COM 806857108 20,840 265,000 SH   SOLE   265,000 0 0
SELECT SECTOR SPDR TR RL EST SEL SEC 81369Y860 2,129 64,969 SH   SOLE   0 0 64,969
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 9,011 466,913 SH   SOLE   466,913 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 14,422 200,000 SH   SOLE   200,000 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 11,647 164,943 SH   SOLE   164,943 0 0
SKECHERS U S A INC CL A 830566105 61,119 2,668,945 SH   SOLE   2,668,945 0 0
SPDR INDEX SHS FDS S&P CHINA ETF 78463X400 22,375 280,000 SH   SOLE   280,000 0 0
SPDR SERIES TRUST BRC CNV SECS ETF 78464A359 176,674 3,810,909 SH   SOLE   3,810,909 0 0
SPDR SERIES TRUST BRC HGH YLD BD 78464A417 200,785 5,468,013 SH   SOLE   5,468,013 0 0
SPDR SERIES TRUST S&P OILGAS EXP 78464A730 5,570 144,829 SH   SOLE   144,829 0 0
STARBUCKS CORP COM 855244109 76,153 1,406,600 SH   SOLE   1,406,600 0 0
STARWOOD PPTY TR INC COM 85571B105 185,999 8,259,266 SH   SOLE   8,259,266 0 0
TESLA MTRS INC COM 88160R101 5,611 27,500 SH   SOLE   27,500 0 0
TJX COS INC NEW COM 872540109 42,121 563,272 SH   SOLE   563,272 0 0
UNITED STATES NATL GAS FUND UNIT PAR $0.001 912318201 41,930 5,015,600 SH   SOLE   0 0 5,015,600
UNITED STATES OIL FUND LP UNITS 91232N108 2,182 199,600 SH   SOLE   0 0 199,600
UNIVERSAL DISPLAY CORP COM 91347P105 41,595 749,319 SH   SOLE   749,319 0 0
VANGUARD INDEX FDS REIT ETF 922908553 10,939 126,112 SH   SOLE   0 0 126,112
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 19,605 521,000 SH   SOLE   0 0 521,000
VANGUARD SPECIALIZED PORTFOL DIV APP ETF 921908844 2,185 26,032 SH   SOLE   0 0 26,032
VANGUARD WORLD FDS ENERGY ETF 92204A306 4,396 45,000 SH   SOLE   0 0 45,000
VERIZON COMMUNICATIONS INC COM 92343V104 253,068 4,868,565 SH   SOLE   4,868,565 0 0
VISA INC COM CL A 92826C839 118,224 1,429,554 SH   SOLE   1,429,554 0 0
WISDOMTREE TR EUROPE HEDGED EQ 97717X701 17,951 334,015 SH   SOLE   334,015 0 0