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: July 31, 2015
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
ISHARES INC MSCI BRAZIL ETF 464286400 12,668,700 3,300 SH Call SOLE 330,000 0 0
ISHARES INC MSCI BRAZIL ETF 464286400 12,668,700 3,300 SH Put SOLE 330,000 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 188,245,240 52,436 SH Put SOLE 5,243,600 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 49,225,572 8,668 SH Put SOLE 866,800 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 21,580,200 3,800 SH Call SOLE 380,000 0 0
STATE STR SPDR S&P 500 ETF T TR UNIT 78462F103 55,239,229 84,939 SH SOLE 84,939 0 0