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
ISHARES INC MIN VOL GBL ETF 464286525 53,180 640,335 SH   SOLE NONE 640,335 0 0
ISHARES TR CORE US AGGRD ET 464287226 71,949 676,718 SH   SOLE NONE 676,718 0 0
POWERSHARES ETF TRUST II SENIOR LN PORT 46138G508 160,160 6,993,882 SH   SOLE NONE 6,993,882 0 0
VANGUARD CHARLOTTE FDS INTL BD IDX ETF 92203J407 29,581 540,681 SH   SOLE NONE 540,681 0 0
SPDR SERIES TRUST BLOMBERG INTL ETF 78464A516 48,404 1,744,283 SH   SOLE NONE 1,744,283 0 0
SPDR SERIES TRUST BLMBRG BRC CNVRT 78464A359 87,646 1,653,075 SH   SOLE NONE 1,653,075 0 0
POWERSHS DB MULTI SECT COMM DB BASE METALS 46140H700 18,244 1,037,164 SH   SOLE NONE 1,037,164 0 0
POWERSHARES DB CMDTY IDX TRA UNIT BEN INT 46138B103 30,378 1,718,237 SH   SOLE NONE 1,718,237 0 0
ISHARES TR JPMORGAN USD EMG 464288281 102,226 957,444 SH   SOLE NONE 957,444 0 0
ISHARES INC EM HGHYL BD ETF 464286285 19,308 419,829 SH   SOLE NONE 419,829 0 0
VANECK VECTORS ETF TR JP MORGAN MKTS 92189F494 46,335 2,722,405 SH   SOLE NONE 2,722,405 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 65,277 2,925,917 SH   SOLE NONE 2,925,917 0 0
SPDR INDEX SHS FDS GLB NAT RESRCE 78463X541 46,461 927,732 SH   SOLE NONE 927,732 0 0
FLEXSHARES TR MORNSTAR UPSTR 33939L407 105,858 3,123,591 SH   SOLE NONE 3,123,591 0 0
ISHARES TR GLB INFRASTR ETF 464288372 92,744 2,158,346 SH   SOLE NONE 2,158,346 0 0
VANECK VECTORS ETF TR INTL HIGH YIELD 92189F445 15,028 616,527 SH   SOLE NONE 616,527 0 0
ISHARES TR MICRO-CAP ETF 464288869 85,744 811,817 SH   SOLE NONE 811,817 0 0
SPDR SERIES TRUST BLOOMBERG BRCLYS 78464A417 96,634 2,723,615 SH   SOLE NONE 2,723,615 0 0
VANECK VECTORS ETF TR AGRIBUSINESS ETF 92189F700 87,872 1,412,956 SH   SOLE NONE 1,412,956 0 0
ISHARES TR S&P US PFD STK 464288687 128,522 3,408,170 SH   SOLE NONE 3,408,170 0 0
POWERSHARES ETF TRUST WATER RES PORT 46137V142 27,940 924,868 SH   SOLE NONE 924,868 0 0
POWERSHARES ETF TR II GBL WTR PORT 46138E651 7,706 307,765 SH   SOLE NONE 307,765 0 0
INDEXIQ ETF TR HEDGE MLTI ETF 45409B107 62,061 2,042,146 SH   SOLE NONE 2,042,146 0 0
SPDR INDEX SHS FDS DJ INTL RL ETF 78463X863 82,786 2,115,117 SH   SOLE NONE 2,115,117 0 0
GLOBAL X FDS GLOBAL X SILVER 37954Y848 36,226 1,254,370 SH   SOLE NONE 1,254,370 0 0
ISHARES SILVER TRUST ISHARES 46428Q109 15,665 1,033,961 SH   SOLE NONE 1,033,961 0 0
ISHARES TR TIPS BD ETF 464287176 98,445 872,195 SH   SOLE NONE 872,195 0 0
VANGUARD INDEX FDS SMALL CP ETF 922908751 150,482 966,676 SH   SOLE NONE 966,676 0 0
VANGUARD SCOTTSDALE FDS MORTG-BACK SEC 92206C771 46,368 901,918 SH   SOLE NONE 901,918 0 0
VANGUARD INDEX FDS REIT ETF 922908553 66,366 814,803 SH   SOLE NONE 814,803 0 0
VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 107,590 932,240 SH   SOLE NONE 932,240 0 0
SPDR SERIES TRUST CITI INT GVT ETF 78464A490 47,019 866,871 SH   SOLE NONE 866,871 0 0
ISHARES TR GL TIMB FORE ETF 464288174 21,991 281,503 SH   SOLE NONE 281,503 0 0