Parkwood (PKW) 13F-HR Quarterly holdings report by institutional manager

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

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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
AGILENT TECHNOLOGIES INC	COMMON STOCK	00846U101	427	9,374	SH		SOLE		9,374	0	0
AMERICAN AIRLINES GROUP INC	COMMON STOCK	02376R102	1,865	39,937	SH		SOLE		39,937	0	0
APPLE INC	COMMON STOCK	037833100	7,721	66,663	SH		SOLE		66,663	0	0
AMERISOURCEBERGEN CORP	COMMON STOCK	03073E105	254	3,253	SH		SOLE		3,253	0	0
AMERICAN CAMPUS COMMUNITIES	REIT	024835100	272	5,458	SH		SOLE		5,458	0	0
ARCH CAPITAL GROUP LTD	COMMON STOCK	G0450A105	3,214	37,249	SH		SOLE		37,249	0	0
ADOBE SYSTEMS INC	COMMON STOCK	00724F101	418	4,063	SH		SOLE		4,063	0	0
ARCHER-DANIELS-MIDLAND CO	COMMON STOCK	039483102	424	9,280	SH		SOLE		9,280	0	0
ADEPTUS HEALTH INC-CLASS A	COMMON STOCK	006855100	169	22,086	SH		SOLE		22,086	0	0
AUTODESK INC	COMMON STOCK	052769106	452	6,103	SH		SOLE		6,103	0	0
AMEREN CORPORATION	COMMON STOCK	023608102	289	5,517	SH		SOLE		5,517	0	0
AMERICAN EAGLE OUTFITTERS	COMMON STOCK	02553E106	213	14,010	SH		SOLE		14,010	0	0
AMERICAN ELECTRIC POWER	COMMON STOCK	025537101	266	4,217	SH		SOLE		4,217	0	0
AERIE PHARMACEUTICALS INC	COMMON STOCK	00771V108	498	13,157	SH		SOLE		13,157	0	0
AES CORP	COMMON STOCK	00130H105	396	34,093	SH		SOLE		34,093	0	0
AGNC INVESTMENT CORP	REIT	00123Q104	254	14,033	SH		SOLE		14,033	0	0
ADECOAGRO SA	COMMON STOCK	L00849106	530	51,100	SH		SOLE		51,100	0	0
A H BELO CORP-A	COMMON STOCK	001282102	127	19,968	SH		SOLE		19,968	0	0
APARTMENT INVT & MGMT CO -A	REIT	03748R101	485	10,680	SH		SOLE		10,680	0	0
ALBEMARLE CORP	COMMON STOCK	012653101	447	5,193	SH		SOLE		5,193	0	0
ALLEGIANT TRAVEL CO	COMMON STOCK	01748X102	212	1,275	SH		SOLE		1,275	0	0
ALIMERA SCIENCES INC	COMMON STOCK	016259103	246	228,123	SH		SOLE		228,123	0	0
ALASKA AIR GROUP INC	COMMON STOCK	011659109	843	9,502	SH		SOLE		9,502	0	0
ALLSTATE CORP	COMMON STOCK	020002101	287	3,875	SH		SOLE		3,875	0	0
ALERE INC	COMMON STOCK	01449J105	233	5,982	SH		SOLE		5,982	0	0
APPLIED MATERIALS INC	COMMON STOCK	038222105	478	14,799	SH		SOLE		14,799	0	0
AMKOR TECHNOLOGY INC	COMMON STOCK	031652100	193	18,321	SH		SOLE		18,321	0	0
AMAZON.COM INC	COMMON STOCK	023135106	7,213	9,619	SH		SOLE		9,619	0	0
ANTHEM INC	COMMON STOCK	036752103	2,919	20,305	SH		SOLE		20,305	0	0
APACHE CORP	COMMON STOCK	037411105	436	6,867	SH		SOLE		6,867	0	0
ANADARKO PETROLEUM CORP	COMMON STOCK	032511107	254	3,640	SH		SOLE		3,640	0	0
APPLE HOSPITALITY REIT INC	REIT	03784Y200	287	14,347	SH		SOLE		14,347	0	0
ANTERO RESOURCES CORP	COMMON STOCK	03674X106	4,837	204,534	SH		SOLE		204,534	0	0
ARCH COAL INC - A	COMMON STOCK	039380407	202	2,594	SH		SOLE		2,594	0	0
ALEXANDRIA REAL ESTATE EQUIT	REIT	015271109	280	2,523	SH		SOLE		2,523	0	0
APPROACH RESOURCES INC	COMMON STOCK	03834A103	59	17,485	SH		SOLE		17,485	0	0
GLOBAL X MSCI ARGENTINA ETF	ETP	37950E259	4,128	179,000	SH		SOLE		179,000	0	0
ARCONIC INC	COMMON STOCK	03965L100	627	33,797	SH		SOLE		33,797	0	0
ATMOS ENERGY CORP	COMMON STOCK	049560105	275	3,712	SH		SOLE		3,712	0	0
ACTIVISION BLIZZARD INC	COMMON STOCK	00507V109	362	10,013	SH		SOLE		10,013	0	0
AVALONBAY COMMUNITIES INC	REIT	053484101	279	1,573	SH		SOLE		1,573	0	0
BROADCOM LTD	COMMON STOCK	Y09827109	2,780	15,725	SH		SOLE		15,725	0	0
AVERY DENNISON CORP	COMMON STOCK	053611109	398	5,669	SH		SOLE		5,669	0	0
ALLIED WORLD ASSURANCE CO	COMMON STOCK	H01531104	327	6,095	SH		SOLE		6,095	0	0
AMERICAN WATER WORKS CO INC	COMMON STOCK	030420103	691	9,548	SH		SOLE		9,548	0	0
AMERICAN EXPRESS CO	COMMON STOCK	025816109	314	4,240	SH		SOLE		4,240	0	0
AXIS CAPITAL HOLDINGS LTD	COMMON STOCK	G0692U109	316	4,841	SH		SOLE		4,841	0	0
ACUITY BRANDS INC	COMMON STOCK	00508Y102	387	1,677	SH		SOLE		1,677	0	0
ASTRAZENECA PLC-SPONS ADR	ADR	046353108	2,757	100,927	SH		SOLE		100,927	0	0
AUTOZONE INC	COMMON STOCK	053332102	577	730	SH		SOLE		730	0	0
BROOKFIELD ASSET MANAGE-CL A	COMMON STOCK	112585104	5,029	152,344	SH		SOLE		152,344	0	0
BASIC ENERGY SERVICES INC	COMMON STOCK	06985P209	634	1,026	SH		SOLE		1,026	0	0
BAXTER INTERNATIONAL INC	COMMON STOCK	071813109	525	11,848	SH		SOLE		11,848	0	0
BED BATH & BEYOND INC	COMMON STOCK	075896100	476	11,723	SH		SOLE		11,723	0	0
BEST BUY CO INC	COMMON STOCK	086516101	1,337	31,332	SH		SOLE		31,332	0	0
CR BARD INC	COMMON STOCK	067383109	266	1,182	SH		SOLE		1,182	0	0
BECTON DICKINSON AND CO	COMMON STOCK	075887109	409	2,472	SH		SOLE		2,472	0	0
FRANKLIN RESOURCES INC	COMMON STOCK	354613101	1,735	43,843	SH		SOLE		43,843	0	0
BROWN-FORMAN CORP-CLASS A	COMMON STOCK	115637100	245	5,294	SH		SOLE		5,294	0	0
BAIDU INC - SPON ADR	ADR	056752108	6,463	39,310	SH		SOLE		39,310	0	0
BIOGEN INC	COMMON STOCK	09062X103	1,944	6,854	SH		SOLE		6,854	0	0
BERKSHIRE HATHAWAY INC-CL B	COMMON STOCK	084670702	13,172	80,820	SH		SOLE		80,820	0	0
BRIXMOR PROPERTY GROUP INC	REIT	11120U105	245	10,029	SH		SOLE		10,029	0	0
BOSTON SCIENTIFIC CORP	COMMON STOCK	101137107	402	18,571	SH		SOLE		18,571	0	0
BAZAARVOICE INC	COMMON STOCK	073271108	70	14,338	SH		SOLE		14,338	0	0
CABLE ONE INC	COMMON STOCK	12685J105	275	443	SH		SOLE		443	0	0
AVIS BUDGET GROUP INC	COMMON STOCK	053774105	248	6,774	SH		SOLE		6,774	0	0
CASEY'S GENERAL STORES INC	COMMON STOCK	147528103	264	2,219	SH		SOLE		2,219	0	0
CATERPILLAR INC	COMMON STOCK	149123101	462	4,985	SH		SOLE		4,985	0	0
CBOE HOLDINGS INC	COMMON STOCK	12503M108	287	3,886	SH		SOLE		3,886	0	0
CBS CORP-CLASS B NON VOTING	COMMON STOCK	124857202	509	8,008	SH		SOLE		8,008	0	0
CROWN CASTLE INTL CORP	REIT	22822V101	256	2,955	SH		SOLE		2,955	0	0
CSI COMPRESSCO LP	MLP	12637A103	737	64,541	SH		SOLE		64,541	0	0
CARE CAPITAL PROPERTIES INC	REIT	141624106	246	9,849	SH		SOLE		9,849	0	0
CHURCH & DWIGHT CO INC	COMMON STOCK	171340102	250	5,658	SH		SOLE		5,658	0	0
CHEGG INC	COMMON STOCK	163092109	77	10,376	SH		SOLE		10,376	0	0
C.H. ROBINSON WORLDWIDE INC	COMMON STOCK	12541W209	274	3,736	SH		SOLE		3,736	0	0
CHARTER COMMUNICATIONS INC-A	COMMON STOCK	16119P108	466	1,619	SH		SOLE		1,619	0	0
CIGNA CORP	COMMON STOCK	125509109	276	2,069	SH		SOLE		2,069	0	0
CHIMERA INVESTMENT CORP	REIT	16934Q208	302	17,740	SH		SOLE		17,740	0	0
CINCINNATI FINANCIAL CORP	COMMON STOCK	172062101	443	5,851	SH		SOLE		5,851	0	0
CIT GROUP INC	COMMON STOCK	125581801	665	15,575	SH		SOLE		15,575	0	0
COLGATE-PALMOLIVE CO	COMMON STOCK	194162103	235	3,584	SH		SOLE		3,584	0	0
CLIFFS NATURAL RESOURCES INC	COMMON STOCK	18683K101	106	12,662	SH		SOLE		12,662	0	0
CONTINENTAL RESOURCES INC/OK	COMMON STOCK	212015101	367	7,127	SH		SOLE		7,127	0	0
CLOROX COMPANY	COMMON STOCK	189054109	257	2,139	SH		SOLE		2,139	0	0
CME GROUP INC	COMMON STOCK	12572Q105	291	2,521	SH		SOLE		2,521	0	0
CHIPOTLE MEXICAN GRILL INC	COMMON STOCK	169656105	233	618	SH		SOLE		618	0	0
CIMPRESS NV	COMMON STOCK	N20146101	5,439	59,374	SH		SOLE		59,374	0	0
CMS ENERGY CORP	COMMON STOCK	125896100	270	6,491	SH		SOLE		6,491	0	0
CENTERPOINT ENERGY INC	COMMON STOCK	15189T107	751	30,494	SH		SOLE		30,494	0	0
COBIZ FINANCIAL INC	COMMON STOCK	190897108	183	10,832	SH		SOLE		10,832	0	0
CABOT OIL & GAS CORP	COMMON STOCK	127097103	4,484	191,968	SH		SOLE		191,968	0	0
COACH INC	COMMON STOCK	189754104	423	12,065	SH		SOLE		12,065	0	0
COOPER COS INC/THE	COMMON STOCK	216648402	257	1,469	SH		SOLE		1,469	0	0
COSTCO WHOLESALE CORP	COMMON STOCK	22160K105	281	1,756	SH		SOLE		1,756	0	0
CANADIAN PACIFIC RAILWAY LTD	COMMON STOCK	13645T100	1,723	12,070	SH		SOLE		12,070	0	0
CAMPBELL SOUP CO	COMMON STOCK	134429109	295	4,872	SH		SOLE		4,872	0	0
CALLON PETROLEUM CO	COMMON STOCK	13123X102	1,134	56,317	SH		SOLE		56,317	0	0
CAMDEN PROPERTY TRUST	REIT	133131102	283	3,371	SH		SOLE		3,371	0	0
CRESUD S.A.-SPONS ADR	ADR	226406106	554	35,138	SH		SOLE		35,138	0	0
CARTER'S INC	COMMON STOCK	146229109	256	2,961	SH		SOLE		2,961	0	0
COMSTOCK RESOURCES INC	COMMON STOCK	205768302	1,071	86,631	SH		SOLE		86,631	0	0
CARRIZO OIL & GAS INC	COMMON STOCK	144577103	1,006	21,752	SH		SOLE		21,752	0	0
CISCO SYSTEMS INC	COMMON STOCK	17275R102	3,417	113,081	SH		SOLE		113,081	0	0
CST BRANDS INC	COMMON STOCK	12646R105	281	5,834	SH		SOLE		5,834	0	0
CINTAS CORP	COMMON STOCK	172908105	453	3,919	SH		SOLE		3,919	0	0
CENTURYLINK INC	COMMON STOCK	156700106	1,002	42,138	SH		SOLE		42,138	0	0
CUBESMART	REIT	229663109	270	10,091	SH		SOLE		10,091	0	0
CIVEO CORP	COMMON STOCK	17878Y108	469	172,879	SH		SOLE		172,879	0	0
CVS HEALTH CORP	COMMON STOCK	126650100	240	3,036	SH		SOLE		3,036	0	0
CHEVRON CORP	COMMON STOCK	166764100	510	4,330	SH		SOLE		4,330	0	0
CLAYTON WILLIAMS ENERGY INC	COMMON STOCK	969490101	312	2,618	SH		SOLE		2,618	0	0
COLUMBIA PROPERTY TRUST INC	REIT	198287203	271	12,524	SH		SOLE		12,524	0	0
DOMINION RESOURCES INC/VA	COMMON STOCK	25746U109	280	3,651	SH		SOLE		3,651	0	0
DELTA AIR LINES INC	COMMON STOCK	247361702	2,839	57,725	SH		SOLE		57,725	0	0
DANA INC	COMMON STOCK	235825205	210	11,086	SH		SOLE		11,086	0	0
DU PONT (E.I.) DE NEMOURS	COMMON STOCK	263534109	484	6,592	SH		SOLE		6,592	0	0
DDR CORP	REIT	23317H102	244	15,972	SH		SOLE		15,972	0	0
DEERE & CO	COMMON STOCK	244199105	2,497	24,235	SH		SOLE		24,235	0	0
DOLLAR GENERAL CORP	COMMON STOCK	256677105	282	3,803	SH		SOLE		3,803	0	0
QUEST DIAGNOSTICS INC	COMMON STOCK	74834L100	479	5,216	SH		SOLE		5,216	0	0
DYNAGAS LNG PARTNERS LP	MLP	Y2188B108	1,729	108,219	SH		SOLE		108,219	0	0
DIGITAL REALTY TRUST INC	REIT	253868103	730	7,432	SH		SOLE		7,432	0	0
DUN & BRADSTREET CORP	COMMON STOCK	26483E100	395	3,257	SH		SOLE		3,257	0	0
DUNKIN' BRANDS GROUP INC	COMMON STOCK	265504100	269	5,123	SH		SOLE		5,123	0	0
DOW CHEMICAL CO/THE	COMMON STOCK	260543103	3,051	53,316	SH		SOLE		53,316	0	0
AMDOCS LTD	COMMON STOCK	G02602103	257	4,407	SH		SOLE		4,407	0	0
DR PEPPER SNAPPLE GROUP INC	COMMON STOCK	26138E109	270	2,982	SH		SOLE		2,982	0	0
DARDEN RESTAURANTS INC	COMMON STOCK	237194105	313	4,308	SH		SOLE		4,308	0	0
DTE ENERGY COMPANY	COMMON STOCK	233331107	280	2,847	SH		SOLE		2,847	0	0
DUKE ENERGY CORP	COMMON STOCK	26441C204	264	3,406	SH		SOLE		3,406	0	0
DYNEGY INC	COMMON STOCK	26817R108	1,006	109,870	SH		SOLE		109,870	0	0
BRINKER INTERNATIONAL INC	COMMON STOCK	109641100	257	5,198	SH		SOLE		5,198	0	0
ENCANA CORP	COMMON STOCK	292505104	3,894	331,718	SH		SOLE		331,718	0	0
ECLIPSE RESOURCES CORP	COMMON STOCK	27890G100	734	239,735	SH		SOLE		239,735	0	0
CONSOLIDATED EDISON INC	COMMON STOCK	209115104	267	3,630	SH		SOLE		3,630	0	0
ISHARES EDGE MSCI MIN VOL EM	ETP	464286533	3,630	74,212	SH		SOLE		74,212	0	0
ENBRIDGE ENERGY MANAGEMENT L	COMMON STOCK	29250X103	1,739	67,157	SH		SOLE		67,157	0	0
ISHARES EDGE MSCI MIN VOL EA	ETP	46429B689	8,280	135,246	SH		SOLE		135,246	0	0
EQUIFAX INC	COMMON STOCK	294429105	389	3,290	SH		SOLE		3,290	0	0
EDISON INTERNATIONAL	COMMON STOCK	281020107	271	3,761	SH		SOLE		3,761	0	0
EQUITY LIFESTYLE PROPERTIES	REIT	29472R108	265	3,679	SH		SOLE		3,679	0	0
ISHARES EDGE MSCI MF EM MKT	ETP	46434G889	14,665	413,321	SH		SOLE		413,321	0	0
ENDURANCE SPECIALTY HOLDINGS	COMMON STOCK	G30397106	265	2,868	SH		SOLE		2,868	0	0
ENLINK MIDSTREAM LLC	COMMON STOCK	29336T100	1,742	91,426	SH		SOLE		91,426	0	0
EOG RESOURCES INC	COMMON STOCK	26875P101	322	3,184	SH		SOLE		3,184	0	0
ENTERPRISE PRODUCTS PARTNERS	MLP	293792107	1,652	61,099	SH		SOLE		61,099	0	0
EPR PROPERTIES	REIT	26884U109	256	3,561	SH		SOLE		3,561	0	0
ISHARES MSCI ALL PERU CAPPED	ETP	464289842	5,314	162,000	SH		SOLE		162,000	0	0
EQUITY COMMONWEALTH	REIT	294628102	268	8,862	SH		SOLE		8,862	0	0
EQUINIX INC	REIT	29444U700	437	1,223	SH		SOLE		1,223	0	0
EQUITY RESIDENTIAL	REIT	29476L107	275	4,279	SH		SOLE		4,279	0	0
EQUITY ONE INC	REIT	294752100	278	9,066	SH		SOLE		9,066	0	0
ERIE INDEMNITY COMPANY-CL A	COMMON STOCK	29530P102	342	3,043	SH		SOLE		3,043	0	0
ISHARES MSCI RUSSIA CAPPED E	ETP	46434G798	3,109	92,759	SH		SOLE		92,759	0	0
EVERSOURCE ENERGY	COMMON STOCK	30040W108	275	4,981	SH		SOLE		4,981	0	0
ESSEX PROPERTY TRUST INC	REIT	297178105	591	2,540	SH		SOLE		2,540	0	0
ENERGY TRANSFER EQUITY LP	MLP	29273V100	1,805	93,452	SH		SOLE		93,452	0	0
ENTERGY CORP	COMMON STOCK	29364G103	261	3,557	SH		SOLE		3,557	0	0
EDWARDS LIFESCIENCES CORP	COMMON STOCK	28176E108	345	3,681	SH		SOLE		3,681	0	0
ISHARES MSCI ITALY CAPPED ET	ETP	46434G830	3,210	132,601	SH		SOLE		132,601	0	0
ISHARES MSCI AUSTRIA CAPPED	ETP	464286202	4,281	259,000	SH		SOLE		259,000	0	0
ISHARES MSCI BRAZIL CAPPED E	ETP	464286400	5,001	150,000	SH		SOLE		150,000	0	0
EXELON CORP	COMMON STOCK	30161N101	291	8,190	SH		SOLE		8,190	0	0
EXPEDITORS INTL WASH INC	COMMON STOCK	302130109	269	5,075	SH		SOLE		5,075	0	0
EXTRA SPACE STORAGE INC	REIT	30225T102	274	3,543	SH		SOLE		3,543	0	0
FORD MOTOR CO	COMMON STOCK	345370860	3,716	306,309	SH		SOLE		306,309	0	0
FACEBOOK INC-A	COMMON STOCK	30303M102	7,482	65,036	SH		SOLE		65,036	0	0
FELCOR LODGING TRUST INC	REIT	31430F101	165	20,654	SH		SOLE		20,654	0	0
FREEPORT-MCMORAN INC	COMMON STOCK	35671D857	221	16,768	SH		SOLE		16,768	0	0
FITBIT INC - A	COMMON STOCK	33812L102	126	17,246	SH		SOLE		17,246	0	0
FOOT LOCKER INC	COMMON STOCK	344849104	274	3,864	SH		SOLE		3,864	0	0
FULL HOUSE RESORTS INC	COMMON STOCK	359678109	89	37,187	SH		SOLE		37,187	0	0
FLOWERS FOODS INC	COMMON STOCK	343498101	357	17,898	SH		SOLE		17,898	0	0
FMC CORP	COMMON STOCK	302491303	515	9,106	SH		SOLE		9,106	0	0
TWENTY-FIRST CENTURY FOX-A	COMMON STOCK	90130A101	5,053	180,194	SH		SOLE		180,194	0	0
FEDERAL REALTY INVS TRUST	REIT	313747206	258	1,814	SH		SOLE		1,814	0	0
FIRST SOLAR INC	COMMON STOCK	336433107	262	8,150	SH		SOLE		8,150	0	0
FORTRESS TRANSPORTATION & IN	LTD PART	34960P101	10,656	801,236	SH		SOLE		801,236	0	0
FLOTEK INDUSTRIES INC	COMMON STOCK	343389102	114	12,096	SH		SOLE		12,096	0	0
GENPACT LTD	COMMON STOCK	G3922B107	268	11,004	SH		SOLE		11,004	0	0
GENESIS ENERGY L.P.	MLP	371927104	1,623	45,054	SH		SOLE		45,054	0	0
GERDAU SA -SPON ADR	ADR	373737105	320	102,000	SH		SOLE		102,000	0	0
GRAHAM HOLDINGS CO-CLASS B	COMMON STOCK	384637104	222	433	SH		SOLE		433	0	0
GILEAD SCIENCES INC	COMMON STOCK	375558103	7,272	101,548	SH		SOLE		101,548	0	0
GENERAL MILLS INC	COMMON STOCK	370334104	260	4,206	SH		SOLE		4,206	0	0
GAMING AND LEISURE PROPERTIE	REIT	36467J108	250	8,162	SH		SOLE		8,162	0	0
CORNING INC	COMMON STOCK	219350105	453	18,650	SH		SOLE		18,650	0	0
GENERAL MOTORS CO	COMMON STOCK	37045V100	4,094	117,495	SH		SOLE		117,495	0	0
GAMESTOP CORP-CLASS A	COMMON STOCK	36467W109	202	8,015	SH		SOLE		8,015	0	0
GOGO INC	COMMON STOCK	38046C109	99	10,726	SH		SOLE		10,726	0	0
ALPHABET INC-CL A	COMMON STOCK	02079K305	12,389	15,634	SH		SOLE		15,634	0	0
GLOBAL PAYMENTS INC	COMMON STOCK	37940X102	400	5,758	SH		SOLE		5,758	0	0
GULFPORT ENERGY CORP	COMMON STOCK	402635304	909	31,223	SH		SOLE		31,223	0	0
GAP INC/THE	COMMON STOCK	364760108	689	30,714	SH		SOLE		30,714	0	0
GLOBAL X MSCI GREECE ETF	ETP	37950E366	3,015	387,047	SH		SOLE		387,047	0	0
GARMIN LTD	COMMON STOCK	H2906T109	441	9,103	SH		SOLE		9,103	0	0
GLAXOSMITHKLINE PLC-SPON ADR	ADR	37733W105	2,459	63,850	SH		SOLE		63,850	0	0
GASTAR EXPLORATION LTD	COMMON STOCK	36729W202	1,555	893,936	SH		SOLE		893,936	0	0
GOODYEAR TIRE & RUBBER CO	COMMON STOCK	382550101	621	20,122	SH		SOLE		20,122	0	0
GRAN TIERRA ENERGY INC	COMMON STOCK	38500T101	114	37,671	SH		SOLE		37,671	0	0
GRAY TELEVISION INC	COMMON STOCK	389375106	333	30,700	SH		SOLE		30,700	0	0
GW PHARMACEUTICALS -ADR	ADR	36197T103	335	3,000	SH		SOLE		3,000	0	0
GLOBAL X MSCI COLOMBIA ETF	ETP	37950E200	4,177	458,000	SH		SOLE		458,000	0	0
GREAT PLAINS ENERGY INC	COMMON STOCK	391164100	270	9,863	SH		SOLE		9,863	0	0
HAWAIIAN HOLDINGS INC	COMMON STOCK	419879101	235	4,118	SH		SOLE		4,118	0	0
HALLIBURTON CO	COMMON STOCK	406216101	226	4,179	SH		SOLE		4,179	0	0
HCA HOLDINGS INC	COMMON STOCK	40412C101	5,345	72,208	SH		SOLE		72,208	0	0
HI-CRUSH PARTNERS LP	MLP	428337109	1,238	52,781	SH		SOLE		52,781	0	0
WELLTOWER INC	REIT	95040Q104	250	3,733	SH		SOLE		3,733	0	0
HORTONWORKS INC	COMMON STOCK	440894103	146	17,578	SH		SOLE		17,578	0	0
HAWAIIAN ELECTRIC INDS	COMMON STOCK	419870100	303	9,161	SH		SOLE		9,161	0	0
HERITAGE FINANCIAL CORP	COMMON STOCK	42722X106	213	8,253	SH		SOLE		8,253	0	0
HELIX ENERGY SOLUTIONS GROUP	COMMON STOCK	42330P107	254	13,466	SH		SOLE		13,466	0	0
HELMERICH & PAYNE	COMMON STOCK	423452101	516	6,664	SH		SOLE		6,664	0	0
HP INC	COMMON STOCK	40434L105	2,379	160,296	SH		SOLE		160,296	0	0
H&R BLOCK INC	COMMON STOCK	093671105	265	11,531	SH		SOLE		11,531	0	0
HORMEL FOODS CORP	COMMON STOCK	440452100	245	7,024	SH		SOLE		7,024	0	0
HARRIS CORP	COMMON STOCK	413875105	492	4,805	SH		SOLE		4,805	0	0
HARSCO CORP	COMMON STOCK	415864107	213	15,660	SH		SOLE		15,660	0	0
HERSHEY CO/THE	COMMON STOCK	427866108	286	2,761	SH		SOLE		2,761	0	0
HEALTHCARE TRUST OF AME-CL A	REIT	42225P501	248	8,505	SH		SOLE		8,505	0	0
HUMANA INC	COMMON STOCK	444859102	2,884	14,136	SH		SOLE		14,136	0	0
HORIZON PHARMA PLC	COMMON STOCK	G4617B105	1,649	101,900	SH		SOLE		101,900	0	0
INDEPENDENCE CONTRACT DRILLI	COMMON STOCK	453415309	109	16,336	SH		SOLE		16,336	0	0
INTERDIGITAL INC	COMMON STOCK	45867G101	241	2,643	SH		SOLE		2,643	0	0
ISHARES CORE MSCI EMERGING	ETP	46434G103	18,861	444,303	SH		SOLE		444,303	0	0
INTL FLAVORS & FRAGRANCES	COMMON STOCK	459506101	366	3,107	SH		SOLE		3,107	0	0
COLUMBIA INDIA CONSUMER ETF	ETP	19762B707	4,865	150,200	SH		SOLE		150,200	0	0
INGREDION INC	COMMON STOCK	457187102	245	1,958	SH		SOLE		1,958	0	0
INTEL CORP	COMMON STOCK	458140100	427	11,786	SH		SOLE		11,786	0	0
ISHARES EDGE MSCI MF INTL	ETP	46434V274	24,392	1,050,000	SH		SOLE		1,050,000	0	0
INTERNATIONAL PAPER CO	COMMON STOCK	460146103	242	4,566	SH		SOLE		4,566	0	0
INGERSOLL-RAND PLC	COMMON STOCK	G47791101	488	6,505	SH		SOLE		6,505	0	0
IRON MOUNTAIN INC	REIT	46284V101	380	11,694	SH		SOLE		11,694	0	0
IRSA -SP ADR	ADR	450047204	555	30,100	SH		SOLE		30,100	0	0
INTUITIVE SURGICAL INC	COMMON STOCK	46120E602	622	981	SH		SOLE		981	0	0
ILLINOIS TOOL WORKS	COMMON STOCK	452308109	451	3,685	SH		SOLE		3,685	0	0
JABIL CIRCUIT INC	COMMON STOCK	466313103	339	14,304	SH		SOLE		14,304	0	0
JETBLUE AIRWAYS CORP	COMMON STOCK	477143101	559	24,953	SH		SOLE		24,953	0	0
JD.COM INC-ADR	ADR	47215P106	3,251	127,791	SH		SOLE		127,791	0	0
JACOBS ENGINEERING GROUP INC	COMMON STOCK	469814107	483	8,478	SH		SOLE		8,478	0	0
JACK HENRY & ASSOCIATES INC	COMMON STOCK	426281101	276	3,110	SH		SOLE		3,110	0	0
JOHNSON & JOHNSON	COMMON STOCK	478160104	4,159	36,102	SH		SOLE		36,102	0	0
JONES ENERGY INC - A	COMMON STOCK	48019R108	624	96,823	SH		SOLE		96,823	0	0
JPMORGAN CHASE & CO	COMMON STOCK	46625H100	5,631	65,257	SH		SOLE		65,257	0	0
KELLOGG CO	COMMON STOCK	487836108	255	3,456	SH		SOLE		3,456	0	0
KEY ENERGY SERVICES INC	COMMON STOCK	49309J103	549	14,000	SH		SOLE		14,000	0	0
KLA-TENCOR CORP	COMMON STOCK	482480100	790	10,041	SH		SOLE		10,041	0	0
KIMBERLY-CLARK CORP	COMMON STOCK	494368103	243	2,131	SH		SOLE		2,131	0	0
KINDER MORGAN INC	COMMON STOCK	49456B101	1,608	77,638	SH		SOLE		77,638	0	0
KEMPHARM INC	COMMON STOCK	488445107	371	125,809	SH		SOLE		125,809	0	0
COCA-COLA CO/THE	COMMON STOCK	191216100	3,663	88,343	SH		SOLE		88,343	0	0
MICHAEL KORS HOLDINGS LTD	COMMON STOCK	G60754101	544	12,660	SH		SOLE		12,660	0	0
KROGER CO	COMMON STOCK	501044101	309	8,940	SH		SOLE		8,940	0	0
KOHLS CORP	COMMON STOCK	500255104	684	13,843	SH		SOLE		13,843	0	0
LIBERTY GLOBAL PLC-SERIES C	COMMON STOCK	G5480U120	4,679	157,526	SH		SOLE		157,526	0	0
LEAR CORP	COMMON STOCK	521865204	716	5,411	SH		SOLE		5,411	0	0
L-3 COMMUNICATIONS HOLDINGS	COMMON STOCK	502424104	441	2,896	SH		SOLE		2,896	0	0
LINEAR TECHNOLOGY CORP	COMMON STOCK	535678106	465	7,461	SH		SOLE		7,461	0	0
LOCKHEED MARTIN CORP	COMMON STOCK	539830109	280	1,119	SH		SOLE		1,119	0	0
ALLIANT ENERGY CORP	COMMON STOCK	018802108	704	18,572	SH		SOLE		18,572	0	0
LAM RESEARCH CORP	COMMON STOCK	512807108	498	4,712	SH		SOLE		4,712	0	0
LIFE STORAGE INC	REIT	53223X107	259	3,038	SH		SOLE		3,038	0	0
SOUTHWEST AIRLINES CO	COMMON STOCK	844741108	2,365	47,450	SH		SOLE		47,450	0	0
LYONDELLBASELL INDU-CL A	COMMON STOCK	N53745100	2,695	31,412	SH		SOLE		31,412	0	0
MASTERCARD INC - A	COMMON STOCK	57636Q104	4,005	38,794	SH		SOLE		38,794	0	0
MID-AMERICA APARTMENT COMM	REIT	59522J103	594	6,064	SH		SOLE		6,064	0	0
MASCO CORP	COMMON STOCK	574599106	405	12,808	SH		SOLE		12,808	0	0
MATTEL INC	COMMON STOCK	577081102	396	14,363	SH		SOLE		14,363	0	0
MCDONALD'S CORP	COMMON STOCK	580135101	280	2,304	SH		SOLE		2,304	0	0
MICROCHIP TECHNOLOGY INC	COMMON STOCK	595017104	459	7,151	SH		SOLE		7,151	0	0
MERCURY GENERAL CORP	COMMON STOCK	589400100	294	4,876	SH		SOLE		4,876	0	0
MEDNAX INC	COMMON STOCK	58502B106	262	3,925	SH		SOLE		3,925	0	0
MCDERMOTT INTL INC	COMMON STOCK	580037109	109	14,802	SH		SOLE		14,802	0	0
MEDTRONIC PLC	COMMON STOCK	G5960L103	582	8,171	SH		SOLE		8,171	0	0
MFA FINANCIAL INC	REIT	55272X102	283	37,137	SH		SOLE		37,137	0	0
MOHAWK INDUSTRIES INC	COMMON STOCK	608190104	4,079	20,430	SH		SOLE		20,430	0	0
MCCORMICK & CO-NON VTG SHRS	COMMON STOCK	579780206	257	2,757	SH		SOLE		2,757	0	0
MARTIN MARIETTA MATERIALS	COMMON STOCK	573284106	307	1,387	SH		SOLE		1,387	0	0
MARSH & MCLENNAN COS	COMMON STOCK	571748102	445	6,578	SH		SOLE		6,578	0	0
3M CO	COMMON STOCK	88579Y101	446	2,498	SH		SOLE		2,498	0	0
ALTRIA GROUP INC	COMMON STOCK	02209S103	287	4,249	SH		SOLE		4,249	0	0
MODEL N INC	COMMON STOCK	607525102	103	11,623	SH		SOLE		11,623	0	0
MOLINA HEALTHCARE INC	COMMON STOCK	60855R100	238	4,380	SH		SOLE		4,380	0	0
MONSANTO CO	COMMON STOCK	61166W101	401	3,807	SH		SOLE		3,807	0	0
MORNINGSTAR INC	COMMON STOCK	617700109	249	3,388	SH		SOLE		3,388	0	0
MERCK & CO. INC.	COMMON STOCK	58933Y105	417	7,087	SH		SOLE		7,087	0	0
MICROSOFT CORP	COMMON STOCK	594918104	4,285	68,962	SH		SOLE		68,962	0	0
MADISON SQUARE GARDEN CO- A	COMMON STOCK	55825T103	268	1,565	SH		SOLE		1,565	0	0
MOTOROLA SOLUTIONS INC	COMMON STOCK	620076307	292	3,517	SH		SOLE		3,517	0	0
MSC INDUSTRIAL DIRECT CO-A	COMMON STOCK	553530106	324	3,506	SH		SOLE		3,506	0	0
METTLER-TOLEDO INTERNATIONAL	COMMON STOCK	592688105	446	1,066	SH		SOLE		1,066	0	0
MICRON TECHNOLOGY INC	COMMON STOCK	595112103	696	31,741	SH		SOLE		31,741	0	0
MURPHY USA INC	COMMON STOCK	626755102	223	3,621	SH		SOLE		3,621	0	0
MYLAN NV	COMMON STOCK	N59465109	519	13,600	SH		SOLE		13,600	0	0
NABORS INDUSTRIES LTD	COMMON STOCK	G6359F103	1,271	61,563	SH		SOLE		61,563	0	0
NASDAQ INC	COMMON STOCK	631103108	436	6,494	SH		SOLE		6,494	0	0
NEXTERA ENERGY INC	COMMON STOCK	65339F101	917	7,673	SH		SOLE		7,673	0	0
NEWMONT MINING CORP	COMMON STOCK	651639106	647	18,979	SH		SOLE		18,979	0	0
NETFLIX INC	COMMON STOCK	64110L106	1,637	13,219	SH		SOLE		13,219	0	0
NISOURCE INC	COMMON STOCK	65473P105	656	29,643	SH		SOLE		29,643	0	0
ANNALY CAPITAL MANAGEMENT IN	REIT	035710409	264	26,521	SH		SOLE		26,521	0	0
NATIONAL RETAIL PROPERTIES	REIT	637417106	248	5,608	SH		SOLE		5,608	0	0
NORTHROP GRUMMAN CORP	COMMON STOCK	666807102	762	3,275	SH		SOLE		3,275	0	0
NEWPARK RESOURCES INC	COMMON STOCK	651718504	119	15,888	SH		SOLE		15,888	0	0
NUCOR CORP	COMMON STOCK	670346105	530	8,898	SH		SOLE		8,898	0	0
NVIDIA CORP	COMMON STOCK	67066G104	699	6,553	SH		SOLE		6,553	0	0
NVR INC	COMMON STOCK	62944T105	267	160	SH		SOLE		160	0	0
NOVARTIS AG-SPONSORED ADR	ADR	66987V109	2,576	35,371	SH		SOLE		35,371	0	0
REALTY INCOME CORP	REIT	756109104	622	10,824	SH		SOLE		10,824	0	0
OASIS PETROLEUM INC	COMMON STOCK	674215108	1,352	72,007	SH		SOLE		72,007	0	0
OFFICE DEPOT INC	COMMON STOCK	676220106	184	40,727	SH		SOLE		40,727	0	0
CORPORATE OFFICE PROPERTIES	REIT	22002T108	297	9,514	SH		SOLE		9,514	0	0
OGE ENERGY CORP	COMMON STOCK	670837103	293	8,755	SH		SOLE		8,755	0	0
OMEGA HEALTHCARE INVESTORS	REIT	681936100	246	7,878	SH		SOLE		7,878	0	0
OWENS-ILLINOIS INC	COMMON STOCK	690768403	218	12,502	SH		SOLE		12,502	0	0
ONEOK INC	COMMON STOCK	682680103	2,118	36,894	SH		SOLE		36,894	0	0
OMNICOM GROUP	COMMON STOCK	681919106	442	5,189	SH		SOLE		5,189	0	0
ORACLE CORP	COMMON STOCK	68389X105	3,265	84,913	SH		SOLE		84,913	0	0
O'REILLY AUTOMOTIVE INC	COMMON STOCK	67103H107	4,748	17,054	SH		SOLE		17,054	0	0
OCCIDENTAL PETROLEUM CORP	COMMON STOCK	674599105	367	5,152	SH		SOLE		5,152	0	0
PLAINS GP HOLDINGS LP-CL A	COMMON STOCK	72651A207	1,680	48,440	SH		SOLE		48,440	0	0
PAMPA ENERGIA SA-SPON ADR	ADR	697660207	536	15,400	SH		SOLE		15,400	0	0
PAYCHEX INC	COMMON STOCK	704326107	466	7,661	SH		SOLE		7,661	0	0
PETROLEO BRASIL-SP PREF ADR	ADR	71654V101	379	43,013	SH		SOLE		43,013	0	0
P G & E CORP	COMMON STOCK	69331C108	270	4,449	SH		SOLE		4,449	0	0
PIEDMONT OFFICE REALTY TRU-A	REIT	720190206	262	12,514	SH		SOLE		12,514	0	0
PUBLIC SERVICE ENTERPRISE GP	COMMON STOCK	744573106	283	6,444	SH		SOLE		6,444	0	0
PENN NATIONAL GAMING INC	COMMON STOCK	707569109	141	10,231	SH		SOLE		10,231	0	0
PEPSICO INC	COMMON STOCK	713448108	3,712	35,479	SH		SOLE		35,479	0	0
PINNACLE FOODS INC	COMMON STOCK	72348P104	283	5,286	SH		SOLE		5,286	0	0
PFIZER INC	COMMON STOCK	717081103	253	7,803	SH		SOLE		7,803	0	0
PROCTER & GAMBLE CO/THE	COMMON STOCK	742718109	5,412	64,367	SH		SOLE		64,367	0	0
PARKER HANNIFIN CORP	COMMON STOCK	701094104	495	3,533	SH		SOLE		3,533	0	0
PREMIER INC-CLASS A	COMMON STOCK	74051N102	252	8,306	SH		SOLE		8,306	0	0
PACKAGING CORP OF AMERICA	COMMON STOCK	695156109	242	2,854	SH		SOLE		2,854	0	0
PROLOGIS INC	REIT	74340W103	433	8,195	SH		SOLE		8,195	0	0
PHILIP MORRIS INTERNATIONAL	COMMON STOCK	718172109	662	7,238	SH		SOLE		7,238	0	0
PANERA BREAD COMPANY-CLASS A	COMMON STOCK	69840W108	283	1,381	SH		SOLE		1,381	0	0
PINNACLE WEST CAPITAL	COMMON STOCK	723484101	281	3,598	SH		SOLE		3,598	0	0
PILGRIM'S PRIDE CORP	COMMON STOCK	72147K108	604	31,810	SH		SOLE		31,810	0	0
PPL CORP	COMMON STOCK	69351T106	275	8,080	SH		SOLE		8,080	0	0
PETROQUEST ENERGY INC	COMMON STOCK	716748306	154	4,725	SH		SOLE		4,725	0	0
PROASSURANCE CORP	COMMON STOCK	74267C106	275	4,886	SH		SOLE		4,886	0	0
PRIMERICA INC	COMMON STOCK	74164M108	1,743	25,205	SH		SOLE		25,205	0	0
PUBLIC STORAGE	REIT	74460D109	580	2,594	SH		SOLE		2,594	0	0
PENN CAP SMALL CAP EQTY-INST	OPEN-END FUND	707269304	4,880	430,308	SH		SOLE		430,308	0	0
PORTOLA PHARMACEUTICALS INC	COMMON STOCK	737010108	539	24,000	SH		SOLE		24,000	0	0
PIONEER NATURAL RESOURCES CO	COMMON STOCK	723787107	686	3,807	SH		SOLE		3,807	0	0
RYDER SYSTEM INC	COMMON STOCK	783549108	307	4,121	SH		SOLE		4,121	0	0
RITE AID CORP	COMMON STOCK	767754104	294	35,625	SH		SOLE		35,625	0	0
REYNOLDS AMERICAN INC	COMMON STOCK	761713106	316	5,633	SH		SOLE		5,633	0	0
EVEREST RE GROUP LTD	COMMON STOCK	G3223R108	308	1,424	SH		SOLE		1,424	0	0
REGENCY CENTERS CORP	REIT	758849103	246	3,564	SH		SOLE		3,564	0	0
RING ENERGY INC	COMMON STOCK	76680V108	1,225	78,782	SH		SOLE		78,782	0	0
RESOLUTE ENERGY CORP	COMMON STOCK	76116A306	1,472	29,006	SH		SOLE		29,006	0	0
REGAL ENTERTAINMENT GROUP-A	COMMON STOCK	758766109	243	11,785	SH		SOLE		11,785	0	0
ROYAL GOLD INC	COMMON STOCK	780287108	274	4,320	SH		SOLE		4,320	0	0
RICE ENERGY INC	COMMON STOCK	762760106	909	32,818	SH		SOLE		32,818	0	0
TRANSOCEAN LTD	COMMON STOCK	H8817H100	962	56,172	SH		SOLE		56,172	0	0
RESMED INC	COMMON STOCK	761152107	253	4,071	SH		SOLE		4,071	0	0
RENAISSANCERE HOLDINGS LTD	COMMON STOCK	G7496G103	303	2,225	SH		SOLE		2,225	0	0
RADIO ONE INC -CL D	COMMON STOCK	75040P405	160	55,064	SH		SOLE		55,064	0	0
ROSS STORES INC	COMMON STOCK	778296103	454	6,922	SH		SOLE		6,922	0	0
RETAIL PROPERTIES OF AME - A	REIT	76131V202	251	16,389	SH		SOLE		16,389	0	0
REPUBLIC SERVICES INC	COMMON STOCK	760759100	301	5,280	SH		SOLE		5,280	0	0
VANECK VECTORS RUSSIA ETF	ETP	92189F403	2,089	98,446	SH		SOLE		98,446	0	0
RADISYS CORP	COMMON STOCK	750459109	76	17,250	SH		SOLE		17,250	0	0
RAYTHEON COMPANY	COMMON STOCK	755111507	725	5,104	SH		SOLE		5,104	0	0
SPRINT CORP	COMMON STOCK	85207U105	2,325	276,185	SH		SOLE		276,185	0	0
SANMINA CORP	COMMON STOCK	801056102	207	5,659	SH		SOLE		5,659	0	0
ECHOSTAR CORP-A	COMMON STOCK	278768106	373	7,253	SH		SOLE		7,253	0	0
SPIRIT AIRLINES INC	COMMON STOCK	848577102	309	5,343	SH		SOLE		5,343	0	0
SALLY BEAUTY HOLDINGS INC	COMMON STOCK	79546E104	270	10,220	SH		SOLE		10,220	0	0
SCANA CORP	COMMON STOCK	80589M102	723	9,866	SH		SOLE		9,866	0	0
SCHWAB (CHARLES) CORP	COMMON STOCK	808513105	5,308	134,473	SH		SOLE		134,473	0	0
SPECTRA ENERGY CORP	COMMON STOCK	847560109	1,957	47,634	SH		SOLE		47,634	0	0
SEMGROUP CORP-CLASS A	COMMON STOCK	81663A105	1,714	41,055	SH		SOLE		41,055	0	0
SERVICEMASTER GLOBAL HOLDING	COMMON STOCK	81761R109	293	7,765	SH		SOLE		7,765	0	0
STONEGATE BANK	COMMON STOCK	861811107	228	5,459	SH		SOLE		5,459	0	0
SCIENTIFIC GAMES CORP-A	COMMON STOCK	80874P109	142	10,152	SH		SOLE		10,152	0	0
SHORETEL INC	COMMON STOCK	825211105	156	21,845	SH		SOLE		21,845	0	0
JM SMUCKER CO/THE	COMMON STOCK	832696405	253	1,973	SH		SOLE		1,973	0	0
TANGER FACTORY OUTLET CENTER	REIT	875465106	255	7,131	SH		SOLE		7,131	0	0
SKECHERS USA INC-CL A	COMMON STOCK	830566105	300	12,222	SH		SOLE		12,222	0	0
SCHLUMBERGER LTD	COMMON STOCK	806857108	334	3,984	SH		SOLE		3,984	0	0
US SILICA HOLDINGS INC	COMMON STOCK	90346E103	1,371	18,463	SH		SOLE		18,463	0	0
SLM CORP	COMMON STOCK	78442P106	175	15,861	SH		SOLE		15,861	0	0
SM ENERGY CO	COMMON STOCK	78454L100	690	20,000	SH		SOLE		20,000	0	0
SANCHEZ ENERGY CORP	COMMON STOCK	79970Y105	1,068	99,491	SH		SOLE		99,491	0	0
INVENTURE FOODS INC	COMMON STOCK	461212102	122	12,404	SH		SOLE		12,404	0	0
SENIOR HOUSING PROP TRUST	REIT	81721M109	231	12,229	SH		SOLE		12,229	0	0
SOUTHERN CO/THE	COMMON STOCK	842587107	261	5,313	SH		SOLE		5,313	0	0
SIMON PROPERTY GROUP INC	REIT	828806109	237	1,335	SH		SOLE		1,335	0	0
S&P GLOBAL INC	COMMON STOCK	78409V104	374	3,479	SH		SOLE		3,479	0	0
SUPERIOR ENERGY SERVICES INC	COMMON STOCK	868157108	1,262	61,315	SH		SOLE		61,315	0	0
SANCHEZ PRODUCTION PARTNERS	MLP	79971C201	467	32,273	SH		SOLE		32,273	0	0
SPIRIT REALTY CAPITAL INC	REIT	84860W102	231	21,226	SH		SOLE		21,226	0	0
SEMPRA ENERGY	COMMON STOCK	816851109	256	2,547	SH		SOLE		2,547	0	0
EW SCRIPPS CO/THE-A	COMMON STOCK	811054402	258	13,370	SH		SOLE		13,370	0	0
ST JUDE MEDICAL INC	COMMON STOCK	790849103	261	3,252	SH		SOLE		3,252	0	0
STEEL DYNAMICS INC	COMMON STOCK	858119100	270	7,602	SH		SOLE		7,602	0	0
STORE CAPITAL CORP	REIT	862121100	236	9,568	SH		SOLE		9,568	0	0
CONSTELLATION BRANDS INC-A	COMMON STOCK	21036P108	2,168	14,144	SH		SOLE		14,144	0	0
SUN COMMUNITIES INC	REIT	866674104	269	3,516	SH		SOLE		3,516	0	0
SEVENTY SEVEN ENERGY INC	COMMON STOCK	81809A100	1,777	33,200	SH		SOLE		33,200	0	0
SYNCHRONY FINANCIAL	COMMON STOCK	87165B103	2,308	63,626	SH		SOLE		63,626	0	0
STRYKER CORP	COMMON STOCK	863667101	270	2,251	SH		SOLE		2,251	0	0
SYMANTEC CORP	COMMON STOCK	871503108	420	17,576	SH		SOLE		17,576	0	0
SYSCO CORP	COMMON STOCK	871829107	3,772	68,123	SH		SOLE		68,123	0	0
AT&T INC	COMMON STOCK	00206R102	8,710	204,787	SH		SOLE		204,787	0	0
TAHOE RESOURCES INC	COMMON STOCK	873868103	222	23,570	SH		SOLE		23,570	0	0
MOLSON COORS BREWING CO -B	COMMON STOCK	60871R209	630	6,478	SH		SOLE		6,478	0	0
TAUBMAN CENTERS INC	REIT	876664103	273	3,690	SH		SOLE		3,690	0	0
TRANSDIGM GROUP INC	COMMON STOCK	893641100	379	1,524	SH		SOLE		1,524	0	0
TELEPHONE AND DATA SYSTEMS	COMMON STOCK	879433829	245	8,474	SH		SOLE		8,474	0	0
TECH DATA CORP	COMMON STOCK	878237106	230	2,714	SH		SOLE		2,714	0	0
BIO-TECHNE CORP	COMMON STOCK	09073M104	243	2,362	SH		SOLE		2,362	0	0
TALLGRASS ENERGY GP LP	COMMON STOCK	874696107	1,766	65,884	SH		SOLE		65,884	0	0
TENNECO INC	COMMON STOCK	880349105	265	4,242	SH		SOLE		4,242	0	0
TARGET CORP	COMMON STOCK	87612E106	3,478	48,148	SH		SOLE		48,148	0	0
TREEHOUSE FOODS INC	COMMON STOCK	89469A104	217	3,004	SH		SOLE		3,004	0	0
TJX COMPANIES INC	COMMON STOCK	872540109	4,846	64,496	SH		SOLE		64,496	0	0
THERMO FISHER SCIENTIFIC INC	COMMON STOCK	883556102	393	2,783	SH		SOLE		2,783	0	0
T-MOBILE US INC	COMMON STOCK	872590104	5,220	90,767	SH		SOLE		90,767	0	0
TELENAV INC	COMMON STOCK	879455103	73	10,305	SH		SOLE		10,305	0	0
TOTAL SA-SPON ADR	ADR	89151E109	2,899	56,874	SH		SOLE		56,874	0	0
TARGA RESOURCES CORP	COMMON STOCK	87612G101	1,694	30,215	SH		SOLE		30,215	0	0
TRINITY INDUSTRIES INC	COMMON STOCK	896522109	326	11,736	SH		SOLE		11,736	0	0
TRANSCANADA CORP	COMMON STOCK	89353D107	1,514	33,536	SH		SOLE		33,536	0	0
TRINSEO SA	COMMON STOCK	L9340P101	204	3,442	SH		SOLE		3,442	0	0
TYSON FOODS INC-CL A	COMMON STOCK	902494103	579	9,386	SH		SOLE		9,386	0	0
TESORO CORP	COMMON STOCK	881609101	788	9,009	SH		SOLE		9,009	0	0
TOWNSQUARE MEDIA INC - CL A	COMMON STOCK	892231101	113	10,871	SH		SOLE		10,871	0	0
TWO HARBORS INVESTMENT CORP	REIT	90187B101	288	33,011	SH		SOLE		33,011	0	0
TEXAS INSTRUMENTS INC	COMMON STOCK	882508104	462	6,337	SH		SOLE		6,337	0	0
UNITED CONTINENTAL HOLDINGS	COMMON STOCK	910047109	1,811	24,851	SH		SOLE		24,851	0	0
UDR INC	REIT	902653104	284	7,784	SH		SOLE		7,784	0	0
UGI CORP	COMMON STOCK	902681105	274	5,951	SH		SOLE		5,951	0	0
AMERCO	COMMON STOCK	023586100	558	1,511	SH		SOLE		1,511	0	0
ULTA SALON COSMETICS & FRAGR	COMMON STOCK	90384S303	473	1,854	SH		SOLE		1,854	0	0
UNIT CORP	COMMON STOCK	909218109	203	7,539	SH		SOLE		7,539	0	0
UNITED PARCEL SERVICE-CL B	COMMON STOCK	911312106	276	2,407	SH		SOLE		2,407	0	0
UNITED RENTALS INC	COMMON STOCK	911363109	685	6,492	SH		SOLE		6,492	0	0
US CELLULAR CORP	COMMON STOCK	911684108	286	6,538	SH		SOLE		6,538	0	0
UNITED THERAPEUTICS CORP	COMMON STOCK	91307C102	469	3,269	SH		SOLE		3,269	0	0
VALSPAR CORP/THE	COMMON STOCK	920355104	258	2,490	SH		SOLE		2,490	0	0
VALE SA-SP ADR	ADR	91912E105	363	47,680	SH		SOLE		47,680	0	0
VARIAN MEDICAL SYSTEMS INC	COMMON STOCK	92220P105	400	4,450	SH		SOLE		4,450	0	0
VANGUARD FTSE DEVELOPED ETF	ETP	921943858	81,405	2,227,843	SH		SOLE		2,227,843	0	0
VEREIT INC	REIT	92339V100	231	27,351	SH		SOLE		27,351	0	0
VALERO ENERGY CORP	COMMON STOCK	91913Y100	2,384	34,891	SH		SOLE		34,891	0	0
VULCAN MATERIALS CO	COMMON STOCK	929160109	263	2,103	SH		SOLE		2,103	0	0
VALIDUS HOLDINGS LTD	COMMON STOCK	G9319H102	296	5,374	SH		SOLE		5,374	0	0
VISHAY INTERTECHNOLOGY INC	COMMON STOCK	928298108	182	11,252	SH		SOLE		11,252	0	0
VISTA OUTDOOR INC	COMMON STOCK	928377100	256	6,937	SH		SOLE		6,937	0	0
VENTAS INC	REIT	92276F100	632	10,101	SH		SOLE		10,101	0	0
VECTREN CORP	COMMON STOCK	92240G101	288	5,529	SH		SOLE		5,529	0	0
VERIZON COMMUNICATIONS INC	COMMON STOCK	92343V104	8,447	158,250	SH		SOLE		158,250	0	0
WATERS CORP	COMMON STOCK	941848103	377	2,802	SH		SOLE		2,802	0	0
WALGREENS BOOTS ALLIANCE INC	COMMON STOCK	931427108	2,073	25,045	SH		SOLE		25,045	0	0
WELLCARE HEALTH PLANS INC	COMMON STOCK	94946T106	468	3,414	SH		SOLE		3,414	0	0
WASTE CONNECTIONS INC	COMMON STOCK	94106B101	207	2,633	SH		SOLE		2,633	0	0
WEC ENERGY GROUP INC	COMMON STOCK	92939U106	269	4,581	SH		SOLE		4,581	0	0
WHOLE FOODS MARKET INC	COMMON STOCK	966837106	274	8,908	SH		SOLE		8,908	0	0
WEATHERFORD INTERNATIONAL PL	COMMON STOCK	G48833100	812	131,300	SH		SOLE		131,300	0	0
WHITING PETROLEUM CORP	COMMON STOCK	966387102	865	60,000	SH		SOLE		60,000	0	0
WASTE MANAGEMENT INC	COMMON STOCK	94106L109	789	11,124	SH		SOLE		11,124	0	0
WILLIAMS COS INC	COMMON STOCK	969457100	1,780	57,177	SH		SOLE		57,177	0	0
WAL-MART STORES INC	COMMON STOCK	931142103	262	3,785	SH		SOLE		3,785	0	0
WPX ENERGY INC	COMMON STOCK	98212B103	1,142	64,510	SH		SOLE		64,510	0	0
WESTAR ENERGY INC	COMMON STOCK	95709T100	262	4,655	SH		SOLE		4,655	0	0
WILDHORSE RESOURCE DEVELOPME	COMMON STOCK	96812T102	553	31,342	SH		SOLE		31,342	0	0
WEINGARTEN REALTY INVESTORS	REIT	948741103	254	7,090	SH		SOLE		7,090	0	0
WHITE MOUNTAINS INSURANCE GP	COMMON STOCK	G9618E107	268	320	SH		SOLE		320	0	0
AQUA AMERICA INC	COMMON STOCK	03836W103	269	8,943	SH		SOLE		8,943	0	0
WYNN RESORTS LTD	COMMON STOCK	983134107	378	4,372	SH		SOLE		4,372	0	0
XCEL ENERGY INC	COMMON STOCK	98389B100	270	6,626	SH		SOLE		6,626	0	0
XILINX INC	COMMON STOCK	983919101	496	8,221	SH		SOLE		8,221	0	0
EXTRACTION OIL & GAS INC	COMMON STOCK	30227M105	778	33,600	SH		SOLE		33,600	0	0
DENTSPLY SIRONA INC	COMMON STOCK	24906P109	3,609	62,521	SH		SOLE		62,521	0	0
XYLEM INC	COMMON STOCK	98419M100	419	8,460	SH		SOLE		8,460	0	0
YAHOO! INC	COMMON STOCK	984332106	398	10,285	SH		SOLE		10,285	0	0
YPF S.A.-SPONSORED ADR	ADR	984245100	865	52,400	SH		SOLE		52,400	0	0
ZAGG INC	COMMON STOCK	98884U108	101	14,159	SH		SOLE		14,159	0	0
ZIMMER BIOMET HOLDINGS INC	COMMON STOCK	98956P102	353	3,423	SH		SOLE		3,423	0	0