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
ALPHABET INC CAP STK CL A	EQUITY	02079K305	5,570	4,733	SH		SOLE		4,729	0	4
ALPHABET INC CAP STK CL C	EQUITY	02079K107	5,379	4,584	SH		SOLE		4,580	0	4
ALTRIA GROUP INC COM	EQUITY	02209S103	375	6,433	SH		SOLE		6,433	0	0
AMAZON COM INC COM	EQUITY	023135106	5,996	3,367	SH		SOLE		3,367	0	0
APPLE INC COM	EQUITY	037833100	6,300	33,166	SH		SOLE		32,880	0	286
AT&T INC COM	EQUITY	00206R102	348	11,087	SH		SOLE		11,087	0	0
BANK AMER CORP COM	EQUITY	060505104	1,244	45,105	SH		SOLE		45,105	0	0
BERKSHIRE HATHAWAY INC DEL CL B NEW	EQUITY	084670702	1,221	6,080	SH		SOLE		6,080	0	0
BOEING CO COM	EQUITY	097023105	2,353	6,170	SH		SOLE		6,090	0	80
BRIGHTHOUSE FINL INC COM	EQUITY	10922N103	508	14,000	SH		SOLE		14,000	0	0
CALADRIUS BIOSCIENCES INC COM NEW	EQUITY	128058203	64	17,730	SH		SOLE		17,730	0	0
CONNECTONE BANCORP INC NEW COM	EQUITY	20786W107	197	10,000	SH		SOLE		10,000	0	0
DOCUSIGN INC COM	EQUITY	256163106	1,297	25,028	SH		SOLE		25,028	0	0
EHEALTH INC COM	EQUITY	28238P109	1,956	31,375	SH		SOLE		31,375	0	0
ENERGY TRANSFER LP COM UT LTD PTN	EQUITY	29273V100	367	23,853	SH		SOLE		23,853	0	0
ENTERPRISE PRODS PARTNERS L COM	EQUITY	293792107	320	10,999	SH		SOLE		10,999	0	0
FACEBOOK INC CL A	EQUITY	30303M102	1,495	8,970	SH		SOLE		8,970	0	0
FEDEX CORP COM	EQUITY	31428X106	218	1,200	SH		SOLE		1,200	0	0
FIDUS INVT CORP COM	EQUITY	316500107	696	45,388	SH		SOLE		45,388	0	0
GOLDMAN SACHS GROUP INC COM	EQUITY	38141G104	226	1,175	SH		SOLE		1,175	0	0
GRAFTECH INTL LTD COM	EQUITY	384313508	179	14,000	SH		SOLE		14,000	0	0
GREENLIGHT CAPITAL RE LTD CLASS A	EQUITY	G4095J109	4,447	409,079	SH		SOLE		382,071	0	27,008
HOWARD HUGHES CORP COM	EQUITY	44267D107	233	2,118	SH		SOLE		2,118	0	0
INTEL CORP COM	EQUITY	458140100	381	7,099	SH		SOLE		7,099	0	0
INTREXON CORP COM	EQUITY	46122T102	87	16,502	SH		SOLE		16,502	0	0
INVESCO DB COMMDY INDX TRCK UNIT	EQUITY	46138B103	198	12,474	SH		SOLE		12,474	0	0
ISHARES TR CORE S&P500 ETF	ETF	464287200	26,783	94,119	SH		SOLE		94,119	0	0
ISHARES TR CORE US AGGBD ET	EQUITY	464287226	3,742	34,309	SH		SOLE		30,429	0	3,880
ISHARES TR MIN VOL USA ETF	ETF	46429B697	1,906	32,414	SH		SOLE		32,414	0	0
ISHARES TR MSCI ACWI ETF	ETF	464288257	741	10,274	SH		SOLE		10,225	0	49
ISHARES TR MSCI EAFE ETF	ETF	464287465	2,416	37,252	SH		SOLE		37,219	0	33
ISHARES TR MSCI INDIA ETF	ETF	46429B598	4,534	128,617	SH		SOLE		122,731	0	5,887
ISHARES TR RUS 1000 GRW ETF	ETF	464287614	545	3,598	SH		SOLE		3,598	0	0
ISHARES TR RUS 1000 VAL ETF	ETF	464287598	770	6,239	SH		SOLE		6,239	0	0
ISHARES TR RUSSELL 2000 ETF	ETF	464287655	6,219	40,623	SH		SOLE		38,799	0	1,824
ISHARES TR SELECT DIVID ETF	ETF	464287168	1,118	11,389	SH		SOLE		11,379	0	10
JD COM INC SPON ADR CL A	EQUITY	47215P106	319	10,566	SH		SOLE		10,566	0	0
JPMORGAN CHASE & CO COM	EQUITY	46625H100	1,197	11,828	SH		SOLE		11,518	0	310
KAR AUCTION SVCS INC COM	EQUITY	48238T109	630	12,200	SH		SOLE		12,200	0	0
LIVERAMP HLDGS INC COM	EQUITY	53815P108	352	6,450	SH		SOLE		6,450	0	0
MERCK & CO INC COM	EQUITY	58933Y105	278	3,323	SH		SOLE		3,323	0	0
MICROSOFT CORP COM	EQUITY	594918104	1,227	10,407	SH		SOLE		10,249	0	158
MONOTYPE IMAGING HOLDINGS IN COM	EQUITY	61022P100	1,599	79,920	SH		SOLE		79,920	0	0
MORGAN STANLEY COM NEW	EQUITY	617446448	215	5,100	SH		SOLE		5,100	0	0
NETAPP INC COM	EQUITY	64110D104	668	9,634	SH		SOLE		9,634	0	0
PEPSICO INC COM	EQUITY	713448108	338	2,757	SH		SOLE		2,605	0	152
PFIZER INC COM	EQUITY	717081103	669	15,760	SH		SOLE		15,460	0	300
PHILIP MORRIS INTL INC COM	EQUITY	718172109	307	3,427	SH		SOLE		3,427	0	0
REALOGY HLDGS CORP COM	EQUITY	75605Y106	126	11,090	SH		SOLE		11,090	0	0
SALESFORCE COM INC COM	EQUITY	79466L302	1,846	11,658	SH		SOLE		11,658	0	0
SCHWAB STRATEGIC TR EMRG MKTEQ ETF	ETF	808524706	235	9,037	SH		SOLE		274	0	8,763
SCHWAB STRATEGIC TR US LRG CAP ETF	ETF	808524201	1,053	15,572	SH		SOLE		244	0	15,328
SCHWAB STRATEGIC TR US MID-CAP ETF	ETF	808524508	497	8,977	SH		SOLE		0	0	8,977
SCHWAB STRATEGIC TR US SML CAP ETF	ETF	808524607	472	6,748	SH		SOLE		0	0	6,748
SELECT SECTOR SPDR TR SBI INT-FINL	EQUITY	81369Y605	251	9,775	SH		SOLE		9,775	0	0
SEQUENTIAL BRNDS GROUP INC N COM	EQUITY	81734P107	124	97,087	SH		SOLE		97,087	0	0
SPDR GOLD TRUST GOLD SHS	EQUITY	78463V107	225	1,847	SH		SOLE		1,847	0	0
SPDR S&P 500 ETF TR TR UNIT	ETF	78462F103	15,602	54,993	SH		SOLE		54,988	0	5
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP	ETF	78467Y107	313	904	SH		SOLE		902	0	2
STARBUCKS CORP COM	EQUITY	855244109	520	7,000	SH		SOLE		7,000	0	0
TRANSDIGM GROUP INC COM	EQUITY	893641100	278	613	SH		SOLE		613	0	0
TRINET GROUP INC COM	EQUITY	896288107	594	9,950	SH		SOLE		9,950	0	0
TWILIO INC CL A	EQUITY	90138F102	258	2,000	SH		SOLE		2,000	0	0
VANECK VECTORS ETF TR HIGH YLD MUN ETF	ETF	92189H409	1,422	22,650	SH		SOLE		22,650	0	0
VANGUARD BD INDEX FD INC SHORT TRM BOND	EQUITY	921937827	689	8,660	SH		SOLE		8,660	0	0
VANGUARD INDEX FDS S&P 500 ETF SHS	ETF	922908363	81,057	312,312	SH		SOLE		302,435	0	9,877
VANGUARD INDEX FDS TOTAL STK MKT	EQUITY	922908769	658	4,546	SH		SOLE		4,546	0	0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF	ETF	922042858	10,951	257,674	SH		SOLE		246,242	0	11,431
VANGUARD INTL EQUITY INDEX F FTSE PACIFIC ETF	ETF	922042866	427	6,483	SH		SOLE		0	0	6,483
VANGUARD INTL EQUITY INDEX F TT WRLD ST ETF	ETF	922042742	240	3,279	SH		SOLE		3,117	0	162
VANGUARD WHITEHALL FDS INC HIGH DIV YLD	EQUITY	921946406	404	4,722	SH		SOLE		4,722	0	0
VARONIS SYS INC COM	EQUITY	922280102	1,134	19,018	SH		SOLE		19,018	0	0
VERIZON COMMUNICATIONS INC COM	EQUITY	92343V104	296	5,009	SH		SOLE		4,599	0	410
VIRTU FINL INC CL A	EQUITY	928254101	380	16,000	SH		SOLE		16,000	0	0
VISA INC COM CL A	EQUITY	92826C839	264	1,689	SH		SOLE		1,369	0	320
WESTERN MIDSTREAM PARTNERS L COM UNIT LP INT ADDED	EQUITY	958669103	286	9,108	SH		SOLE		9,108	0	0
BANKWELL FINL GROUP INC COM	EQUITY	06654A103	2,581	88,438	SH		SOLE		88,438	0	0
BARCLAYS BK PLC ETN SEL MLP	EQUITY	06742C723	7,312	357,429	SH		SOLE		339,043	0	18,386
BERKSHIRE HATHAWAY INC DEL CL A	EQUITY	084670108	301	1	SH		SOLE		1	0	0
INVESCO EXCHANGE TRADED FD T DYNMC SOFTWARE	EQUITY	46137V639	881	9,642	SH		SOLE		9,642	0	0
PIMCO CORPORATE INCOME STRAT COM	EQUITY	72200U100	243	14,000	SH		SOLE		14,000	0	0
PIMCO HIGH INCOME FD COM SHS	EQUITY	722014107	949	104,500	SH		SOLE		104,500	0	0