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 |
ADIENT PLC | COM | G0084W101 | 625 | 8,600 | SH | | SOLE | | 8,600 | 0 | 0 |
ADOBE SYSTEMS INC | COM | 00724F101 | 1,744 | 13,400 | SH | | SOLE | | 13,400 | 0 | 0 |
AFLAC INC | COM | 001055102 | 3,584 | 49,490 | SH | | SOLE | | 49,490 | 0 | 0 |
ALEXION PHARMACEUTICALS, INC. | COM | 015351109 | 1,237 | 10,200 | SH | | SOLE | | 10,200 | 0 | 0 |
ALIBABA GROUP HLDS LTD | COM | 01609W102 | 1,445 | 13,400 | SH | | SOLE | | 13,400 | 0 | 0 |
ALLERGAN PLC | COM | G0177J108 | 3,440 | 14,400 | SH | | SOLE | | 14,400 | 0 | 0 |
ALPHABET INC - CL A | COM | 02079K305 | 5,612 | 6,620 | SH | | SOLE | | 6,620 | 0 | 0 |
ALPHABET INC NON-VOTING CL C | COM | 02079K107 | 3,401 | 4,100 | SH | | SOLE | | 4,100 | 0 | 0 |
AMAZON.COM INC. | COM | 023135106 | 6,560 | 7,400 | SH | | SOLE | | 7,400 | 0 | 0 |
AMBARELLA INC | COM | G037AX101 | 1,149 | 21,000 | SH | | SOLE | | 21,000 | 0 | 0 |
AMERICAN EXPRESS CO. | COM | 025816109 | 8,471 | 107,075 | SH | | SOLE | | 107,075 | 0 | 0 |
AMERICAN INTL GROUP | COM | 026874784 | 1,186 | 19,000 | SH | | SOLE | | 19,000 | 0 | 0 |
ANHEUSER-BUSCH - ADR | COM | 03524A108 | 5,236 | 47,700 | SH | | SOLE | | 47,700 | 0 | 0 |
APPLE INC | COM | 037833100 | 21,684 | 150,940 | SH | | SOLE | | 150,940 | 0 | 0 |
ASTRAZENECA - ADR | COM | 046353108 | 4,602 | 147,800 | SH | | SOLE | | 147,800 | 0 | 0 |
AT&T INC | COM | 00206R102 | 2,565 | 61,740 | SH | | SOLE | | 61,740 | 0 | 0 |
ATRICURE INC | COM | 04963C209 | 1,216 | 63,500 | SH | | SOLE | | 63,500 | 0 | 0 |
BRITISH AMERICAN TOBACCO - ADR | COM | 110448107 | 7,706 | 116,200 | SH | | SOLE | | 116,200 | 0 | 0 |
BROADCOM LTD | COM | Y09827109 | 2,322 | 10,605 | SH | | SOLE | | 10,605 | 0 | 0 |
CHEVRON | COM | 166764100 | 1,327 | 12,360 | SH | | SOLE | | 12,360 | 0 | 0 |
CHUBB LTD(old ACE LTD) | COM | H1467J104 | 1,185 | 8,700 | SH | | SOLE | | 8,700 | 0 | 0 |
CITIGROUP | COM | 172967424 | 4,678 | 78,200 | SH | | SOLE | | 78,200 | 0 | 0 |
CITRIX SYSTEM | COM | 177376100 | 566 | 6,790 | SH | | SOLE | | 6,790 | 0 | 0 |
CME GROUP INC | COM | 12572Q105 | 1,426 | 12,000 | SH | | SOLE | | 12,000 | 0 | 0 |
COMCAST CORPORATION | COM | 20030N101 | 3,330 | 88,590 | SH | | SOLE | | 88,590 | 0 | 0 |
COMERICA INC. | COM | 200340107 | 1,612 | 23,500 | SH | | SOLE | | 23,500 | 0 | 0 |
DIAGEO PLC - SPONSORED ADR | COM | 25243Q205 | 4,519 | 39,100 | SH | | SOLE | | 39,100 | 0 | 0 |
DOLBY LABORATORIES INC | COM | 25659T107 | 1,258 | 24,000 | SH | | SOLE | | 24,000 | 0 | 0 |
EDWARDS LIFESCIENCES CORP. | COM | 28176E108 | 1,204 | 12,800 | SH | | SOLE | | 12,800 | 0 | 0 |
EQUITY RESIDENTIAL | COM | 29476L107 | 3,446 | 55,380 | SH | | SOLE | | 55,380 | 0 | 0 |
EVOLENT HEALTH INC | COM | 30050B101 | 1,226 | 55,000 | SH | | SOLE | | 55,000 | 0 | 0 |
EXXON | COM | 30231G102 | 6,592 | 80,380 | SH | | SOLE | | 80,380 | 0 | 0 |
FACEBOOK | COM | 30303M102 | 5,803 | 40,850 | SH | | SOLE | | 40,850 | 0 | 0 |
FIDELITY NATIONAL | COM | 31620M106 | 1,433 | 18,000 | SH | | SOLE | | 18,000 | 0 | 0 |
GENERAL ELECTRIC CO. | COM | 369604103 | 3,931 | 131,905 | SH | | SOLE | | 131,905 | 0 | 0 |
GILEAD SCIENCES INC | COM | 375558103 | 1,307 | 19,250 | SH | | SOLE | | 19,250 | 0 | 0 |
GLAXOSMITHKLINE - ADR | COM | 37733W105 | 6,067 | 143,900 | SH | | SOLE | | 143,900 | 0 | 0 |
GOLDMAN SACHS GROUP | COM | 38141G104 | 4,020 | 17,500 | SH | | SOLE | | 17,500 | 0 | 0 |
GW PHARMACEUTICALS PLC | COM | 36197T103 | 1,185 | 9,800 | SH | | SOLE | | 9,800 | 0 | 0 |
HALLIBURTON | COM | 406216101 | 1,181 | 24,000 | SH | | SOLE | | 24,000 | 0 | 0 |
HEWLETT PACKARD | COM | 40434L105 | 1,263 | 70,660 | SH | | SOLE | | 70,660 | 0 | 0 |
INTEL CORP | COM | 458140100 | 1,574 | 43,630 | SH | | SOLE | | 43,630 | 0 | 0 |
INTERNATIONAL BUSINESS MACHINE | COM | 459200101 | 2,451 | 14,075 | SH | | SOLE | | 14,075 | 0 | 0 |
JOHNSON & JOHNSON | COM | 478160104 | 1,769 | 14,200 | SH | | SOLE | | 14,200 | 0 | 0 |
JP MORGAN | COM | 46625H100 | 5,095 | 58,000 | SH | | SOLE | | 58,000 | 0 | 0 |
LAM RESEARCH CORP | COM | 512807108 | 1,284 | 10,000 | SH | | SOLE | | 10,000 | 0 | 0 |
MICROSOFT CORP | COM | 594918104 | 6,455 | 98,005 | SH | | SOLE | | 98,005 | 0 | 0 |
MORGAN STANLEY | COM | 617446448 | 5,141 | 120,000 | SH | | SOLE | | 120,000 | 0 | 0 |
NAVIOS MARITIME HOLDINGS INC. | COM | Y62196103 | 93 | 50,000 | SH | | SOLE | | 50,000 | 0 | 0 |
NEWELL BRANDS INC | COM | 651229106 | 896 | 19,000 | SH | | SOLE | | 19,000 | 0 | 0 |
NOVARTIS AG - ADR | COM | 66987V109 | 11,594 | 156,100 | SH | | SOLE | | 156,100 | 0 | 0 |
NOVO NORDISK -ADR | COM | 670100205 | 3,754 | 109,500 | SH | | SOLE | | 109,500 | 0 | 0 |
NXP SEMICONDUCTORS | COM | N6596X109 | 2,055 | 19,855 | SH | | SOLE | | 19,855 | 0 | 0 |
ON SEMICONDUCTOR CORP | COM | 682189105 | 1,263 | 81,550 | SH | | SOLE | | 81,550 | 0 | 0 |
ORACLE CORP | COM | 68389X105 | 3,286 | 73,660 | SH | | SOLE | | 73,660 | 0 | 0 |
PANDORA MEDIA INC | COM | 698354107 | 5,598 | 473,990 | SH | | SOLE | | 473,990 | 0 | 0 |
PFIZER | COM | 717081103 | 4,654 | 136,050 | SH | | SOLE | | 136,050 | 0 | 0 |
PTC INC | COM | 69370C100 | 2,102 | 40,000 | SH | | SOLE | | 40,000 | 0 | 0 |
RAYTHEON & COMPANY | COM | 755111507 | 1,830 | 12,000 | SH | | SOLE | | 12,000 | 0 | 0 |
REALTY INCOME CORPORATION | COM | 756109104 | 1,173 | 19,700 | SH | | SOLE | | 19,700 | 0 | 0 |
RENAISSANCERE HLDGS LTD | COM | G7496G103 | 1,591 | 11,000 | SH | | SOLE | | 11,000 | 0 | 0 |
SANOFI (ADR) | COM | 80105N105 | 6,303 | 139,300 | SH | | SOLE | | 139,300 | 0 | 0 |
SEAGATE TECHNOLOGY HOLDINGS | COM | G7945M107 | 4,226 | 92,000 | SH | | SOLE | | 92,000 | 0 | 0 |
SHIRE PLC-ADR | COM | 82481R106 | 5,227 | 30,000 | SH | | SOLE | | 30,000 | 0 | 0 |
SPIRIT AEROSYSTEMS HLDGS INC | COM | 848574109 | 1,158 | 20,000 | SH | | SOLE | | 20,000 | 0 | 0 |
ST MICRO ELECTRONICS | COM | 861012102 | 1,681 | 108,730 | SH | | SOLE | | 108,730 | 0 | 0 |
SUMMIT MATERIALS INC | COM | 86614U100 | 1,575 | 63,756 | SH | | SOLE | | 63,756 | 0 | 0 |
TESLA MOTORS, INC. | COM | 88160R101 | 1,550 | 5,570 | SH | | SOLE | | 5,570 | 0 | 0 |
TEXAS INSTRUMENTS | COM | 882508104 | 657 | 8,160 | SH | | SOLE | | 8,160 | 0 | 0 |
THE BOEING CO | COM | 097023105 | 1,769 | 10,000 | SH | | SOLE | | 10,000 | 0 | 0 |
TRANSOCEAN INC | COM | H8817H100 | 2,054 | 165,000 | SH | | SOLE | | 165,000 | 0 | 0 |
TRAVELERS COMPANIES ORD | COM | 89417E109 | 3,604 | 29,900 | SH | | SOLE | | 29,900 | 0 | 0 |
TRIPADVISOR INC | COM | 896945201 | 1,208 | 28,000 | SH | | SOLE | | 28,000 | 0 | 0 |
TWILIO INC. | COM | 90138F102 | 1,646 | 57,000 | SH | | SOLE | | 57,000 | 0 | 0 |
UNILEVER PLC - ADR | COM | 904784709 | 9,116 | 183,500 | SH | | SOLE | | 183,500 | 0 | 0 |
US CONCRETE INC | COM | 90333L201 | 1,678 | 26,000 | SH | | SOLE | | 26,000 | 0 | 0 |
VANTIV INC | COM | 92210H105 | 2,344 | 36,560 | SH | | SOLE | | 36,560 | 0 | 0 |
VERIZON COMMUNICATION INC. | COM | 92343V104 | 4,146 | 85,045 | SH | | SOLE | | 85,045 | 0 | 0 |
WALT DISNEY CO. | COM | 254687106 | 8,005 | 70,600 | SH | | SOLE | | 70,600 | 0 | 0 |
WELLS FARGO&COMPANY | COM | 949746101 | 1,219 | 21,900 | SH | | SOLE | | 21,900 | 0 | 0 |
WESTERN DIGITAL CORP | COM | 958102105 | 1,857 | 22,500 | SH | | SOLE | | 22,500 | 0 | 0 |
ZOETIS INC | COM | 98978V103 | 1,601 | 30,000 | SH | | SOLE | | 30,000 | 0 | 0 |
CONSUMER STAPLES SPDR | ETF | 81369Y308 | 105,820 | 1,938,800 | SH | | SOLE | | 1,938,800 | 0 | 0 |
DB COMMODITY INDEX FUND | ETF | 73935S105 | 3,879 | 255,000 | SH | | SOLE | | 255,000 | 0 | 0 |
ISHARE MSCI EMERGING MARKETS E | ETF | 464287234 | 27,553 | 699,500 | SH | | SOLE | | 699,500 | 0 | 0 |
ISHARES CORE MSCI EMERGING MKT | ETF | 46434G103 | 68,080 | 1,424,570 | SH | | SOLE | | 1,424,570 | 0 | 0 |
ISHARES CORE S&P MIDCAP ETF | ETF | 464287507 | 2,300 | 13,434 | SH | | SOLE | | 13,434 | 0 | 0 |
ISHARES CORE TOTAL US BOND ETF | ETF | 464287226 | 25,083 | 231,200 | SH | | SOLE | | 231,200 | 0 | 0 |
ISHARES DJ US REAL ESTATE | ETF | 464287739 | 159,609 | 2,033,500 | SH | | SOLE | | 2,033,500 | 0 | 0 |
ISHARES JAPAN | ETF | 46434G822 | 31,520 | 612,035 | SH | | SOLE | | 612,035 | 0 | 0 |
ISHARES MSCI AUSTRALIA INDEX F | ETF | 464286103 | 21,357 | 944,600 | SH | | SOLE | | 944,600 | 0 | 0 |
ISHARES MSCI CANADA INDEX | ETF | 464286509 | 32,009 | 1,190,829 | SH | | SOLE | | 1,190,829 | 0 | 0 |
ISHARES MSCI EAFE GROWTH | ETF | 464288885 | 8,881 | 127,808 | SH | | SOLE | | 127,808 | 0 | 0 |
ISHARES MSCI EAFE SMALL CAP | ETF | 464288273 | 6,785 | 125,322 | SH | | SOLE | | 125,322 | 0 | 0 |
ISHARES MSCI EAFE VALUE | ETF | 464288877 | 13,287 | 264,148 | SH | | SOLE | | 264,148 | 0 | 0 |
ISHARES MSCI EUROPE FINANCIALS | ETF | 464289180 | 5,486 | 270,000 | SH | | SOLE | | 270,000 | 0 | 0 |
ISHARES MSCI UNITED KINGDOM | ETF | 46435G334 | 8,499 | 261,110 | SH | | SOLE | | 261,110 | 0 | 0 |
ISHARES MSCI USA MOMENTUM FACT | ETF | 46432F396 | 5,008 | 60,595 | SH | | SOLE | | 60,595 | 0 | 0 |
ISHARES NASDAQ BIOTECH | ETF | 464287556 | 32,201 | 109,800 | SH | | SOLE | | 109,800 | 0 | 0 |
ISHARES RUSSELL 2000 VALUE ETF | ETF | 464287630 | 1,155 | 9,778 | SH | | SOLE | | 9,778 | 0 | 0 |
ISHARES S&P 500 GROWTH ETF | ETF | 464287309 | 19,327 | 146,954 | SH | | SOLE | | 146,954 | 0 | 0 |
ISHARES S&P 500 VALUE ETF | ETF | 464287408 | 26,043 | 250,321 | SH | | SOLE | | 250,321 | 0 | 0 |
ISHARES S&P MIDCAP 400/GROWTH | ETF | 464287606 | 17,338 | 90,816 | SH | | SOLE | | 90,816 | 0 | 0 |
ISHARES S&P MIDCAP 400/VALUE E | ETF | 464287705 | 14,110 | 95,048 | SH | | SOLE | | 95,048 | 0 | 0 |
ISHARES S&P SMALLCAP 600 | ETF | 464287804 | 1,002 | 14,486 | SH | | SOLE | | 14,486 | 0 | 0 |
JP MORGAN ALERIAN MLP | ETF | 46625H365 | 5,006 | 155,000 | SH | | SOLE | | 155,000 | 0 | 0 |
POWERSHARES BUYBACK ACHIEVERS | ETF | 73935X286 | 1,552 | 29,877 | SH | | SOLE | | 29,877 | 0 | 0 |
POWERSHARES S&P 500 QUALITY | ETF | 73935X682 | 9,104 | 332,619 | SH | | SOLE | | 332,619 | 0 | 0 |
RUSSELL 2000 INDEX FUND | ETF | 464287655 | 14,107 | 102,608 | SH | | SOLE | | 102,608 | 0 | 0 |
S&P 500 PURE GROWTH | ETF | 78355W403 | 3,686 | 41,104 | SH | | SOLE | | 41,104 | 0 | 0 |
S&P 500 PURE VALUE | ETF | 78355W304 | 4,660 | 79,176 | SH | | SOLE | | 79,176 | 0 | 0 |
SELECT SECTOR SPDR- REAL ESTAT | ETF | 81369Y860 | 26,074 | 825,127 | SH | | SOLE | | 825,127 | 0 | 0 |
SELECT SECTOR SPDR-CONSUMER DI | ETF | 81369Y407 | 103,594 | 1,177,870 | SH | | SOLE | | 1,177,870 | 0 | 0 |
SELECT SECTOR SPDR-ENERGY | ETF | 81369Y506 | 79,893 | 1,142,967 | SH | | SOLE | | 1,142,967 | 0 | 0 |
SELECT SECTOR SPDR-FINANCIAL | ETF | 81369Y605 | 112,843 | 4,755,283 | SH | | SOLE | | 4,755,283 | 0 | 0 |
SELECT SECTOR SPDR-HEALTH CARE | ETF | 81369Y209 | 113,012 | 1,519,790 | SH | | SOLE | | 1,519,790 | 0 | 0 |
SELECT SECTOR SPDR-INDUSTRIAL | ETF | 81369Y704 | 86,559 | 1,330,443 | SH | | SOLE | | 1,330,443 | 0 | 0 |
SELECT SECTOR SPDR-MATERIALS | ETF | 81369Y100 | 26,271 | 501,256 | SH | | SOLE | | 501,256 | 0 | 0 |
SELECT SECTOR SPDR-TECHNOLOGY | ETF | 81369Y803 | 175,853 | 3,298,695 | SH | | SOLE | | 3,298,695 | 0 | 0 |
SELECT SECTOR SPDR-UTILITIES | ETF | 81369Y886 | 62,059 | 1,209,500 | SH | | SOLE | | 1,209,500 | 0 | 0 |
SPDR S&P OIL & GAS EXPLORATION | ETF | 78464A730 | 9,135 | 244,000 | SH | | SOLE | | 244,000 | 0 | 0 |
SPDR-S&P 500 INDEX | ETF | 78462F103 | 6,106 | 25,900 | SH | | SOLE | | 25,900 | 0 | 0 |
VANGUARD FTSE EUROPE ETF | ETF | 922042874 | 13,820 | 267,990 | SH | | SOLE | | 267,990 | 0 | 0 |