Summit Trail Advisors 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

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
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
ZIOPHARM ONCOLOGY INC COM	EQUITY	98973P101	52	27,760	SH		SOLE		27,760	0	0
SEQUENTIAL BRNDS GROUP INC N COM	EQUITY	81734P107	78	97,087	SH		SOLE		97,087	0	0
FREEPORT-MCMORAN INC CL B	EQUITY	35671D857	132	12,811	SH		DFND		10,164	0	2,647
CONSTELLIUM NV CL A	EQUITY	N22035104	175	25,000	SH		OTR		0	0	25,000
CONNECTONE BANCORP INC NEW COM	EQUITY	20786W107	185	10,000	SH		SOLE		10,000	0	0
KINDER MORGAN INC DEL COM	EQUITY	49456B101	187	12,144	SH		DFND		6,832	0	5,312
INTREXON CORP COM	EQUITY	46122T102	204	31,191	SH		SOLE		31,191	0	0
FIREEYE INC COM	EQUITY	31816Q101	211	13,037	SH		OTR		0	0	13,037
JOHNSON CTLS INTL PLC SHS	EQUITY	G51502105	216	7,225	SH		DFND		6,382	0	843
AMERIPRISE FINL INC COM	EQUITY	03076C106	219	2,100	SH		DFND		100	0	2,000
SPDR INDEX SHS FDS DJ GLB RL ES ETF	EQUITY	78463X749	230	5,207	SH		SOLE		5,207	0	0
VERTEX PHARMACEUTICALS INC COM	EQUITY	92532F100	231	1,396	SH		DFND		1,154	0	242
ABBOTT LABS COM	EQUITY	002824100	235	3,245	SH		SOLE		3,245	0	0
NETFLIX INC COM	ETF	64110L106	244	910	SH		SOLE		910	0	0
LIVERAMP HLDGS INC COM ADDED	EQUITY	53815P108	249	6,450	SH		SOLE		6,450	0	0
MEDTRONIC PLC SHS	EQUITY	G5960L103	250	2,741	SH		DFND		1,821	0	920
ISHARES INC CORE MSCI EMKT	ETF	46434G103	260	5,504	SH		SOLE		5,504	0	0
SEAGATE TECHNOLOGY PLC SHS	EQUITY	G7945M107	266	6,749	SH		DFND		5,579	0	1,170
AIR PRODS & CHEMS INC COM	EQUITY	009158106	270	1,675	SH		OTR		0	0	1,675
ISHARES INC MSCI JPN ETF NEW	ETF	46434G822	270	5,319	SH		SOLE		5,319	0	0
BLACKROCK INC COM	EQUITY	09247X101	272	693	SH		SOLE		693	0	0
PENUMBRA INC COM	EQUITY	70975L107	275	2,250	SH		SOLE		2,250	0	0
SPDR DOW JONES INDL AVRG ETF UT SER 1	EQUITY	78467X109	281	1,200	SH		OTR		0	0	1,200
VERIZON COMMUNICATIONS INC COM	EQUITY	92343V104	298	5,292	SH		DFND		5,074	0	218
AMERICAN SUPERCONDUCTOR CORP SHS NEW	EQUITY	030111207	303	27,172	SH		SOLE		27,172	0	0
TE CONNECTIVITY LTD REG SHS	EQUITY	H84989104	304	4,023	SH		DFND		3,371	0	652
BERKSHIRE HATHAWAY INC DEL CL A	EQUITY	084670108	306	1	SH		SOLE		1	0	0
AUTODESK INC COM	EQUITY	052769106	316	2,457	SH		DFND		2,129	0	328
ABBVIE INC COM	EQUITY	00287Y109	322	3,497	SH		DFND		3,174	0	323
LYONDELLBASELL INDUSTRIES N SHS - A -	EQUITY	N53745100	325	3,907	SH		OTR		0	0	3,907
AMERICAN AIRLS GROUP INC COM	EQUITY	02376R102	326	10,152	SH		DFND		212	0	9,940
HOWARD HUGHES CORP COM	EQUITY	44267D107	339	3,471	SH		SOLE		3,471	0	0
WPX ENERGY INC COM	EQUITY	98212B103	341	30,008	SH		OTR		0	0	30,008
DOWDUPONT INC COM	EQUITY	26078J100	352	6,574	SH		DFND		512	0	6,062
BLACKSTONE GROUP L P COM UNIT LTD	EQUITY	09253U108	373	12,500	SH		SOLE		12,500	0	0
CIVITAS SOLUTIONS INC COM	EQUITY	17887R102	375	21,435	SH		SOLE		21,435	0	0
ASSURANT INC COM	EQUITY	04621X108	382	4,276	SH		OTR		0	0	4,276
AT&T INC COM	EQUITY	00206R102	386	13,533	SH		DFND		10,308	0	3,224
EQUINIX INC COM PAR $0.001	EQUITY	29444U700	415	1,177	SH		SOLE		1,177	0	0
ALTRIA GROUP INC COM	EQUITY	02209S103	427	8,500	SH		DFND		7,615	0	885
BRIGHTHOUSE FINL INC COM	EQUITY	10922N103	427	14,000	SH		SOLE		14,000	0	0
M & T BK CORP COM	EQUITY	55261F104	437	3,050	SH		OTR		0	0	3,050
SPDR GOLD TRUST GOLD SHS	EQUITY	78463V107	454	3,747	SH		DFND		2,007	0	1,740
BIOGEN INC COM	EQUITY	09062X103	457	1,518	SH		DFND		1,231	0	287
MERCK & CO INC COM	EQUITY	58933Y105	458	5,956	SH		DFND		3,323	0	2,633
ALIBABA GROUP HLDG LTD SPONSORED ADS	EQUITY	01609W102	469	3,425	SH		SOLE		3,425	0	0
ANALOG DEVICES INC COM	EQUITY	032654105	479	5,579	SH		OTR		0	0	5,579
EOG RES INC COM	EQUITY	26875P101	525	6,018	SH		DFND		320	0	5,698
ETF SER SOLUTIONS DEEP VALUE ETF	ETF	26922A701	545	17,886	SH		SOLE		17,886	0	0
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP	ETF	78467Y107	556	1,830	SH		DFND		904	0	926
ENERGY TRANSFER LP COM UT LTD PTN	EQUITY	29273V100	570	43,165	SH		DFND		39,565	0	3,600
MINDBODY INC COM CL A	EQUITY	60255W105	591	16,243	SH		SOLE		16,243	0	0
ANTHEM INC COM	EQUITY	036752103	596	2,270	SH		OTR		0	0	2,270
COMCAST CORP NEW CL A	EQUITY	20030N101	599	17,483	SH		DFND		14,412	0	3,071
AON PLC SHS CL A	EQUITY	G0408V102	630	4,336	SH		OTR		0	0	4,336
ORACLE CORP COM	EQUITY	68389X105	635	14,074	SH		DFND		2,515	0	11,559
SELECT SECTOR SPDR TR SBI INT-FINL	EQUITY	81369Y605	671	28,175	SH		DFND		9,775	0	18,400
UNITEDHEALTH GROUP INC COM	EQUITY	91324P102	672	2,696	SH		DFND		2,291	0	405
TESLA INC COM	EQUITY	88160R101	713	2,142	SH		SOLE		2,142	0	0
GOLDMAN SACHS GROUP INC COM	EQUITY	38141G104	714	4,274	SH		DFND		1,851	0	2,423
AMERICAN EXPRESS CO COM	EQUITY	025816109	722	7,574	SH		DFND		774	0	6,800
2U INC COM	EQUITY	90214J101	746	15,000	SH		SOLE		15,000	0	0
D R HORTON INC COM	EQUITY	23331A109	832	24,002	SH		OTR		0	0	24,002
FEDEX CORP COM	EQUITY	31428X106	849	5,243	SH		DFND		1,410	0	3,833
INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT	ETF	46137V357	920	10,063	SH		SOLE		10,063	0	0
SIFY TECHNOLOGIES LIMITED SPONSORED ADS	EQUITY	82655M107	924	620,466	SH		SOLE		620,466	0	0
WILLIS TOWERS WATSON PUB LTD SHS	EQUITY	G96629103	969	6,379	SH		SOLE		6,379	0	0
TWITTER INC COM	EQUITY	90184L102	1,103	38,382	SH		DFND		37,004	0	1,378
NETAPP INC COM	EQUITY	64110D104	1,172	19,634	SH		DFND		9,634	0	10,000
MONOTYPE IMAGING HOLDINGS IN COM	EQUITY	61022P100	1,250	79,920	SH		SOLE		79,920	0	0
ALLERGAN PLC SHS	EQUITY	G0177J108	1,259	9,421	SH		DFND		2,055	0	7,366
EHEALTH INC COM	EQUITY	28238P109	1,260	32,791	SH		DFND		31,375	0	1,416
INVESCO DB COMMDY INDX TRCK UNIT	EQUITY	46138B103	1,526	105,342	SH		SOLE		105,342	0	0
ISHARES TR MIN VOL USA ETF	ETF	46429B697	1,700	32,414	SH		SOLE		32,414	0	0
SALESFORCE COM INC COM	EQUITY	79466L302	1,723	12,576	SH		DFND		12,317	0	259
VISA INC COM CL A	EQUITY	92826C839	1,770	13,415	SH		DFND		13,015	0	400
JAZZ PHARMACEUTICALS PLC SHS USD	EQUITY	G50871105	1,965	15,854	SH		SOLE		15,854	0	0
JPMORGAN CHASE & CO ALERIAN ML ETN	EQUITY	46625H365	1,995	89,389	SH		SOLE		89,389	0	0
VANGUARD WORLD FDS INF TECH ETF	ETF	92204A702	2,040	12,227	SH		SOLE		12,227	0	0
BOEING CO COM	EQUITY	097023105	2,165	6,714	SH		DFND		6,170	0	544
BANKWELL FINL GROUP INC COM	EQUITY	06654A103	2,539	88,438	SH		SOLE		88,438	0	0
MB FINANCIAL INC NEW COM	EQUITY	55264U108	2,944	74,282	SH		SOLE		74,282	0	0
JD COM INC SPON ADR CL A	EQUITY	47215P106	3,038	145,168	SH		SOLE		145,168	0	0
BANK AMER CORP COM	EQUITY	060505104	3,230	131,079	SH		SOLE		131,079	0	0
JPMORGAN CHASE & CO COM	EQUITY	46625H100	3,367	34,490	SH		DFND		23,756	0	10,734
CISCO SYS INC COM	EQUITY	17275R102	4,324	99,796	SH		DFND		8,820	0	90,976
ISHARES TR MSCI INDIA ETF	ETF	46429B598	4,475	134,153	SH		DFND		111,676	0	22,477
ARISTA NETWORKS INC COM	EQUITY	040413106	4,488	21,300	SH		OTR		0	0	21,300
GREENLIGHT CAPITAL RE LTD CLASS A	EQUITY	G4095J109	4,673	542,159	SH		DFND		390,729	0	151,430
INSTRUCTURE INC COM	EQUITY	45781U103	4,680	124,780	SH		SOLE		124,780	0	0
BERKSHIRE HATHAWAY INC DEL CL B NEW	EQUITY	084670702	5,192	25,429	SH		DFND		12,252	0	13,177
INVESCO EXCHANGE TRADED FD T DYNMC SOFTWARE	ETF	46137V639	5,754	77,863	SH		SOLE		77,863	0	0
WISDOMTREE CONTINUOUS COMMOD SHS BEN INT	EQUITY	97718W108	5,760	328,231	SH		SOLE		328,231	0	0
KAR AUCTION SVCS INC COM	EQUITY	48238T109	5,856	121,820	SH		SOLE		121,820	0	0
BARCLAYS BK PLC ETN SEL MLP	EQUITY	06742C723	5,895	332,497	SH		DFND		293,154	0	39,343
AMAZON COM INC COM	EQUITY	023135106	7,828	5,212	SH		DFND		5,187	0	25
YEXT INC COM	EQUITY	98585N106	9,833	662,186	SH		DFND		652,186	0	10,000
APPLE INC COM	EQUITY	037833100	14,006	88,790	SH		DFND		85,238	0	3,552
ALPHABET INC CAP STK CL A	EQUITY	02079K305	14,742	14,108	SH		DFND		14,078	0	30
BROADCOM INC COM	EQUITY	11135F101	16,945	66,638	SH		DFND		66,449	0	189
ALPHABET INC CAP STK CL C	EQUITY	02079K107	18,516	17,879	SH		DFND		17,231	0	648
AMPHENOL CORP NEW CL A	EQUITY	032095101	24,988	308,389	SH		SOLE		308,389	0	0
FACEBOOK INC CL A	EQUITY	30303M102	28,963	220,938	SH		DFND		219,438	0	1,500
SPDR S&P 500 ETF TR TR UNIT	ETF	78462F103	31,735	126,278	SH		DFND		80,733	0	45,545