The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||||||
| UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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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 |
| ISHARES TR | TIPS BD ETF | 464287176 | 7,025,024 | 65,587 | SH | SOLE | 65,587 | 0 | 0 | ||
| ISHARES TR | IBOXX INV CP ETF | 464287242 | 9,770,281 | 90,625 | SH | SOLE | 90,625 | 0 | 0 | ||
| ISHARES TR | JPMORGAN USD EMG | 464288281 | 7,904,821 | 88,629 | SH | SOLE | 88,629 | 0 | 0 | ||
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 | 5,672,045 | 67,420 | SH | SOLE | 67,420 | 0 | 0 | ||
| VANGUARD CHARLOTTE FDS | TOTAL INT BD ETF | 92203J407 | 3,529,863 | 72,500 | SH | SOLE | 72,500 | 0 | 0 | ||
| VANGUARD SCOTTSDALE FDS | SHORT TERM TREAS | 92206C102 | 16,723,807 | 288,400 | SH | SOLE | 288,400 | 0 | 0 | ||
| SELECT SECTOR SPDR TR | SBI CONS STPLS | 81369Y308 | 920,728 | 12,000 | SH | SOLE | 12,000 | 0 | 0 | ||
| SELECT SECTOR SPDR TR | SBI CONS DISCR | 81369Y407 | 3,024,155 | 16,500 | SH | SOLE | 16,500 | 0 | 0 | ||
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 | 3,576,210 | 39,300 | SH | SOLE | 39,300 | 0 | 0 | ||
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 | 1,843,151 | 44,900 | SH | SOLE | 44,900 | 0 | 0 | ||
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 | 1,787,625 | 7,900 | SH | SOLE | 7,900 | 0 | 0 | ||
| SELECT SECTOR SPDR TR | COMMUNICATION | 81369Y852 | 3,870,026 | 45,000 | SH | SOLE | 45,000 | 0 | 0 | ||
| ISHARES INC | MSCI SPAIN ETF | 464286764 | 965,273 | 30,900 | SH | SOLE | 30,900 | 0 | 0 | ||
| ISHARES INC | MSCI HONG KG ETF | 464286871 | 987,866 | 64,700 | SH | SOLE | 64,700 | 0 | 0 | ||
| ISHARES TR | ISHS 1-5YR INVS | 464288646 | 12,375,330 | 241,500 | SH | SOLE | 241,500 | 0 | 0 | ||
| ISHARES TR | MSCI DENMARK ETF | 46429B523 | 1,045,462 | 8,300 | SH | SOLE | 8,300 | 0 | 0 | ||
| ISHARES TR | MSCI UK ETF NEW | 46435G334 | 987,596 | 28,300 | SH | SOLE | 28,300 | 0 | 0 | ||
| ISHARES TR | CORE INTL AGGR | 46435G672 | 923,610 | 18,500 | SH | SOLE | 18,500 | 0 | 0 | ||
| ISHARES INC | MSCI CDA ETF | 464286509 | 984,380 | 26,500 | SH | SOLE | 26,500 | 0 | 0 | ||
| ISHARES INC | MSCI FRANCE ETF | 464286707 | 946,552 | 25,000 | SH | SOLE | 25,000 | 0 | 0 | ||