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
ISHARES INC MIN VOL GBL ETF 464286525 46,880 576,919 SH   SOLE NONE 576,919 0 0
ISHARES TR CORE US AGGRD ET 464287226 76,147 715,067 SH   SOLE NONE 715,067 0 0
POWERSHARES ETF TRUST II SENIOR LN PORT 46138G508 148,382 6,812,781 SH   SOLE NONE 6,812,781 0 0
VANGUARD CHARLOTTE FDS INTL BD IDX ETF 92203J407 27,781 512,085 SH   SOLE NONE 512,085 0 0
SPDR SERIES TRUST BLOMBERG INTL ETF 78464A516 46,375 1,679,651 SH   SOLE NONE 1,679,651 0 0
INVESCO EXCHNG TRADED FD TR S&P GBL WATER 46138E263 12,011 385,715 SH   SOLE NONE 385,715 0 0
SPDR SERIES TRUST BLMBRG BRC CNVRT 78464A359 78,105 1,669,271 SH   SOLE NONE 1,669,271 0 0
POWERSHS DB MULTI SECT COMM DB BASE METALS 46140H700 7,010 455,480 SH   SOLE NONE 455,480 0 0
POWERSHARES DB CMDTY IDX TRA UNIT BEN INT 46138B103 25,760 1,777,773 SH   SOLE NONE 1,777,773 0 0
INVESCO DB MLTI SECTR CMMTY OIL FD 46140H403 17,641 2,082,736 SH   SOLE NONE 2,082,736 0 0
ISHARES TR JPMORGAN USD EMG 464288281 105,933 1,019,464 SH   SOLE NONE 1,019,464 0 0
ISHARES INC EM HGHYL BD ETF 464286285 9,250 208,478 SH   SOLE NONE 208,478 0 0
VANECK VECTORS ETF TR JP MORGAN MKTS 92189H300 44,921 1,361,251 SH   SOLE NONE 1,361,251 0 0
VANECK VECTORS ETF TR GOLD MINERS ETF 92189F106 64,847 3,074,756 SH   SOLE NONE 3,074,756 0 0
SPDR INDEX SHS FDS GLB NAT RESRCE 78463X541 41,251 1,000,269 SH   SOLE NONE 1,000,269 0 0
FLEXSHARES TR MORNSTAR UPSTR 33939L407 95,523 3,262,398 SH   SOLE NONE 3,262,398 0 0
ISHARES TR GLB INFRASTR ETF 464288372 80,202 2,036,623 SH   SOLE NONE 2,036,623 0 0
VANECK VECTORS ETF TR INTL HIGH YIELD 92189F445 7,297 311,764 SH   SOLE NONE 311,764 0 0
ISHARES TR MICRO-CAP ETF 464288869 79,556 964,902 SH   SOLE NONE 964,902 0 0
SPDR SERIES TRUST BLOOMBERG BRCLYS 78464A417 98,772 2,940,513 SH   SOLE NONE 2,940,513 0 0
VANECK VECTORS ETF TR AGRIBUSINESS ETF 92189F700 76,230 1,339,251 SH   SOLE NONE 1,339,251 0 0
ISHARES TR S&P US PFD STK 464288687 119,161 3,481,179 SH   SOLE NONE 3,481,179 0 0
POWERSHARES ETF TRUST WATER RES PORT 46137V142 25,155 891,720 SH   SOLE NONE 891,720 0 0
POWERSHARES ETF TR II GBL WTR PORT 46138E651 7,144 309,387 SH   SOLE NONE 309,387 0 0
INDEXIQ ETF TR HEDGE MLTI ETF 45409B107 75,280 2,606,638 SH   SOLE NONE 2,606,638 0 0
SPDR INDEX SHS FDS DJ INTL RL ETF 78463X863 73,762 2,087,210 SH   SOLE NONE 2,087,210 0 0
GLOBAL X FDS GLOBAL X SILVER 37954Y848 34,468 1,377,637 SH   SOLE NONE 1,377,637 0 0
ISHARES SILVER TRUST ISHARES 46428Q109 13,110 902,887 SH   SOLE NONE 902,887 0 0
ISHARES TR TIPS BD ETF 464287176 92,312 842,957 SH   SOLE NONE 842,957 0 0
VANGUARD INDEX FDS SMALL CP ETF 922908751 134,156 1,016,408 SH   SOLE NONE 1,016,408 0 0
VANGUARD SCOTTSDALE FDS MORTG-BACK SEC 92206C771 37,818 734,465 SH   SOLE NONE 734,465 0 0
VANGUARD INDEX FDS REIT ETF 922908553 59,976 804,286 SH   SOLE NONE 804,286 0 0
VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 99,025 1,045,889 SH   SOLE NONE 1,045,889 0 0
SPDR SERIES TRUST CITI INT GVT ETF 78464A490 22,595 434,262 SH   SOLE NONE 434,262 0 0
ISHARES TR GL TIMB FORE ETF 464288174 21,325 373,277 SH   SOLE NONE 373,277 0 0