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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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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
INVESCO QQQ TRUS UNIT SER 1 46090E103 14,709,481 26,665 SH SOLE 26,665 0 0
SPDR S&P 500 ETF TR UNIT 78462F103 14,044,966 22,732 SH SOLE 22,732 0 0
SPDR DJIA TRUST UT SER 1 78467X109 13,352,576 30,302 SH SOLE 30,302 0 0
SPDR-MATERIALS SBI MATERIALS 81369Y100 3,751,682 42,725 SH SOLE 42,725 0 0
SPDR-HEALTH CARE SBI HEALTHCARE 81369Y209 3,373,255 25,026 SH SOLE 25,026 0 0
SPDR-CONS STAPLE SBI CONS STPLS 81369Y308 3,455,476 42,676 SH SOLE 42,676 0 0
SPDR-CONS DISCRE SBI CONS DISCR 81369Y407 3,974,314 18,287 SH SOLE 18,287 0 0
SPDR-ENERGY SEL ENERGY 81369Y506 3,704,162 43,676 SH SOLE 43,676 0 0
SPDR-FINL SELECT FINANCIAL 81369Y605 3,825,262 73,043 SH SOLE 73,043 0 0
SPDR-INDU SELECT INDL 81369Y704 4,044,556 27,417 SH SOLE 27,417 0 0
SPDR-TECH SEL S TECHNOLOGY 81369Y803 4,352,517 17,188 SH SOLE 17,188 0 0
REAL EST SEL SEC RL EST SEL SEC 81369Y860 3,586,765 86,595 SH SOLE 86,595 0 0
SPDR-UTIL SELECT SBI INT-UTILS 81369Y886 3,627,011 44,416 SH SOLE 44,416 0 0