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 3,967,500 1,150 SH Put SOLE 115,000 0 0
ISHARES INC MSCI BRAZIL ETF 464286400 3,967,500 1,150 SH Call SOLE 115,000 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 165,727,458 52,462 SH Put SOLE 5,246,200 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 20,865,050 3,050 SH Put SOLE 305,000 0 0
ISHARES TR IBOXX HI YD ETF 464288513 37,425,960 4,680 SH Put SOLE 468,000 0 0
STATE STR SPDR S&P 500 ETF T TR UNIT 78462F103 139,579,527 186,911 SH SOLE 186,911 0 0