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
iShares MSCI Emerging Markets Indx ETF EEM 464287234 10,703 267,650 SH   SOLE   0 0 267,650
iShares MSCI Emerging Markets Indx ETF EEM Call 464287904 10,520 210,400 SH Call SOLE   0 0 210,400
iShares MSCI Emerging Markets Indx ETF EEM Put 464287954 46,793 1,160,900 SH Put SOLE   0 0 1,160,900
iShares MSCI EAFE ETF EFA 464287465 41,872 687,900 SH   SOLE   0 0 687,900
iShares MSCI EAFE ETF EFA Call 464287905 10,013 144,600 SH Call SOLE   0 0 144,600
iShares MSCI EAFE ETF EFA Put 464287955 58,648 1,012,900 SH Put SOLE   0 0 1,012,900
SPDR Gold Trust GLD 78463V107 8,536 51,000 SH   SOLE   0 0 51,000
SPDR Gold Trust GLD Call 78463V907 3,800 25,000 SH Call SOLE   0 0 25,000
SPDR Gold Trust GLD Put 78463V957 7,987 51,000 SH Put SOLE   0 0 51,000
ISHARES TR - 3-7 YR TREAS BD ETF IEI 464288661 441 3,300 SH   SOLE   0 0 3,300
ishares ETF - CORE MSCI EMKT IEMG 46434G103 26,056 547,400 SH   SOLE   0 0 547,400
IShares ETF-Rus2000 IWM 464287655 45,044 314,600 SH   SOLE   0 0 314,600
IShares ETF-Rus2000 IWM Put 464287955 390 2,600 SH Put SOLE   0 0 2,600
POWERSHARES QQQ TRUST QQQ 73935A104 1,609 6,500 SH   SOLE   0 0 6,500
POWERSHARES QQQ TRUST QQQ Call 73935A904 1,728 7,200 SH Call SOLE   0 0 7,200
POWERSHARES QQQ TRUST QQQ Put 73935A954 1,202 6,500 SH Put SOLE   0 0 6,500
iShares Trust - iShares 1-3 Year Treasury Bond ETF SHY 464287457 424 4,900 SH   SOLE   0 0 4,900
SPDR S&P 500 ETF TR SPY 78462F103 421,841 1,368,014 SH   SOLE   0 0 1,368,014
SPDR S&P 500 ETF TR SPY Call 78462F903 10,298 30,800 SH Call SOLE   0 0 30,800
SPDR S&P 500 ETF TR SPY Put 78462F953 745,699 2,421,400 SH Put SOLE   0 0 2,421,400
IShares ETF-20yr TLT 464287432 2,852 17,400 SH   SOLE   0 0 17,400
IShares ETF-20yr TLT Put 464287952 2,598 17,400 SH Put SOLE   0 0 17,400
SELECT SECTOR SPDR TR XLB 81369Y100 103,105 1,829,722 SH   SOLE   0 0 1,829,722
SELECT SECTOR SPDR TR XLC 81369Y852 170,622 3,157,335 SH   SOLE   0 0 3,157,335
SELECT SECTOR SPDR TR XLE 81369Y506 113,617 3,001,767 SH   SOLE   0 0 3,001,767
SELECT SECTOR SPDR TR XLF 81369Y605 130,300 5,630,963 SH   SOLE   0 0 5,630,963
SELECT SECTOR SPDR TR XLF Put 81369Y955 324 18,000 SH Put SOLE   0 0 18,000
SELECT SECTOR SPDR TR XLI 81369Y704 131,836 1,919,011 SH   SOLE   0 0 1,919,011
SELECT SECTOR SPDR TR XLK 81369Y803 266,296 2,548,527 SH   SOLE   0 0 2,548,527
SELECT SECTOR SPDR TR XLP 81369Y308 120,996 2,063,379 SH   SOLE   0 0 2,063,379
SELECT SECTOR SPDR TR XLRE 81369Y860 33,613 965,616 SH   SOLE   0 0 965,616
SELECT SECTOR SPDR TR XLU 81369Y886 79,470 1,408,300 SH   SOLE   0 0 1,408,300
SELECT SECTOR SPDR TR XLV 81369Y209 198,805 1,986,656 SH   SOLE   0 0 1,986,656
SELECT SECTOR SPDR TR XLY 81369Y407 167,514 1,311,672 SH   SOLE   0 0 1,311,672