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
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
YPF SA Sponsored ADR Class D COM 984245100 44 2,249 SH   SOLE 0 2,249 0 0
Energy Select Sector SPDR Fund COM 81369Y506 488 6,542 SH   SOLE 0 6,542 0 0
SPDR S&P Homebuilders ETF COM 78464A888 438 12,785 SH   SOLE 0 12,785 0 0
Vanguard Consumer Staples Index Fund COM 92204A207 536 4,015 SH   SOLE 0 4,015 0 0
Grupo Supervielle SA Sponsored ADR Class B COM 40054A108 17 1,203 SH   SOLE 0 1,203 0 0
Petrobras Argentina SA Sponsored ADR Class B COM 71646J109 11 1,498 SH   SOLE 0 1,498 0 0
Pampa Energia SA Sponsored ADR COM 697660207 39 1,035 SH   SOLE 0 1,035 0 0
iShares Global Materials ETF COM 464288695 334 5,910 SH   SOLE 0 5,910 0 0
SPDR S&P Regional Banking ETF COM 78464A698 213 3,823 SH   SOLE 0 3,823 0 0
SPDR S&P Insurance ETF COM 78464A789 522 6,259 SH   SOLE 0 6,259 0 0
PowerShares KBW Bank Portfolio COM 73937B746 460 9,637 SH   SOLE 0 9,637 0 0
PowerShares International BuyBack Achievers Portfolio COM 73937B621 345 11,902 SH   SOLE 0 11,902 0 0
iShares U.S. Medical Devices ETF COM 464288810 302 2,182 SH   SOLE 0 2,182 0 0
iShares U.S. Healthcare Providers ETF COM 464288828 368 2,845 SH   SOLE 0 2,845 0 0
iShares North American Tech-Software ETF COM 464287515 123 1,090 SH   SOLE 0 1,090 0 0
iShares Currency Hedged MSCI South Korea ETF COM 46435G888 99 4,015 SH   SOLE 0 4,015 0 0
iShares Currency Hedged MSCI Spain ETF COM 46435G813 277 13,624 SH   SOLE 0 13,624 0 0
iShares Currency Hedged MSCI Japan ETF COM 46434V886 343 12,099 SH   SOLE 0 12,099 0 0
iShares Currency Hedged MSCI Germany ETF COM 46434V704 315 12,057 SH   SOLE 0 12,057 0 0
Grupo Financiero Galicia SA Sponsored ADR Class B COM 399909100 32 1,074 SH   SOLE 0 1,074 0 0
iShares Global Industrials ETF COM 464288729 243 3,167 SH   SOLE 0 3,167 0 0
iShares MSCI Australia ETF COM 464286103 159 7,524 SH   SOLE 0 7,524 0 0
iShares MSCI Russia Capped ETF COM 46434G798 125 3,689 SH   SOLE 0 3,689 0 0
WisdomTree Japan Hedged Financials Fund COM 97717W463 252 10,359 SH   SOLE 0 10,359 0 0
WisdomTree Japan Hedged Capital Goods Fund COM 97717W356 260 10,425 SH   SOLE 0 10,425 0 0
WisdomTree Emerging Markets High Dividend Fund COM 97717W315 362 9,410 SH   SOLE 0 9,410 0 0
Cresud SA Sponsored ADR COM 226406106 17 1,029 SH   SOLE 0 1,029 0 0
Guggenheim China Technology ETF COM 18383Q135 74 1,949 SH   SOLE 0 1,949 0 0
Banco Macro SA Sponsored ADR Class B COM 05961W105 35 480 SH   SOLE 0 480 0 0
BBVA Banco Frances SA Sponsored ADR COM 07329M100 16 880 SH   SOLE 0 880 0 0
Adecoagro S.A. COM L00849106 30 2,830 SH   SOLE 0 2,830 0 0
YPF SA Sponsored ADR Class D COM 464286848 44 2,256 SH   SOLE 0 2,256 0 0
Energy Select Sector SPDR Fund COM 92204A207 490 6,561 SH   SOLE 0 6,561 0 0
SPDR S&P Homebuilders ETF COM 78464A888 439 12,828 SH   SOLE 0 12,828 0 0
Vanguard Consumer Staples Index Fund COM 922908553 537 4,027 SH   SOLE 0 4,027 0 0
Grupo Supervielle SA Sponsored ADR Class B COM 81369Y506 16 1,207 SH   SOLE 0 1,207 0 0
Petrobras Argentina SA Sponsored ADR Class B COM 464286582 11 1,502 SH   SOLE 0 1,502 0 0
Pampa Energia SA Sponsored ADR COM 464287515 39 1,038 SH   SOLE 0 1,038 0 0
iShares Global Materials ETF COM 464288828 335 5,927 SH   SOLE 0 5,927 0 0
SPDR S&P Regional Banking ETF COM 73937B621 214 3,834 SH   SOLE 0 3,834 0 0
SPDR S&P Insurance ETF COM 464288810 523 6,276 SH   SOLE 0 6,276 0 0
PowerShares KBW Bank Portfolio COM 78464A789 462 9,666 SH   SOLE 0 9,666 0 0
PowerShares International BuyBack Achievers Portfolio COM 464288471 345 11,937 SH   SOLE 0 11,937 0 0
iShares U.S. Medical Devices ETF COM 46429B614 303 2,189 SH   SOLE 0 2,189 0 0
iShares U.S. Healthcare Providers ETF COM 92204A884 368 2,853 SH   SOLE 0 2,853 0 0
iShares North American Tech-Software ETF COM 97717W315 123 1,093 SH   SOLE 0 1,093 0 0
iShares Currency Hedged MSCI South Korea ETF COM 464286806 99 4,017 SH   SOLE 0 4,017 0 0
iShares Currency Hedged MSCI Spain ETF COM 46435G888 278 13,664 SH   SOLE 0 13,664 0 0
iShares Currency Hedged MSCI Japan ETF COM 97717X503 344 12,135 SH   SOLE 0 12,135 0 0
iShares Currency Hedged MSCI Germany ETF COM 97717W638 316 12,092 SH   SOLE 0 12,092 0 0
Grupo Financiero Galicia SA Sponsored ADR Class B COM 01609W102 32 1,077 SH   SOLE 0 1,077 0 0
iShares Global Industrials ETF COM 88031M109 244 3,176 SH   SOLE 0 3,176 0 0
iShares MSCI Australia ETF COM 464288695 160 7,546 SH   SOLE 0 7,546 0 0
iShares MSCI Russia Capped ETF COM 464288729 126 3,700 SH   SOLE 0 3,700 0 0
WisdomTree Japan Hedged Financials Fund COM 58733R102 253 10,389 SH   SOLE 0 10,389 0 0
WisdomTree Japan Hedged Capital Goods Fund COM 22943F100 260 10,455 SH   SOLE 0 10,455 0 0
WisdomTree Emerging Markets High Dividend Fund COM 47215P106 363 9,437 SH   SOLE 0 9,437 0 0
Cresud SA Sponsored ADR COM 585464100 17 1,032 SH   SOLE 0 1,032 0 0
Guggenheim China Technology ETF COM 92763W103 74 1,954 SH   SOLE 0 1,954 0 0
Banco Macro SA Sponsored ADR Class B COM 46434V704 35 481 SH   SOLE 0 481 0 0
BBVA Banco Frances SA Sponsored ADR COM 647581107 16 883 SH   SOLE 0 883 0 0
Adecoagro S.A. COM L00849106 30 2,835 SH   SOLE 0 2,835 0 0
SPDR S&P Health Care Services ETF COM 73937B860 1,668 30,266 SH   SOLE 0 30,266 0 0
PowerShares S&P SmallCap Information Technology Portfolio COM 73937B506 2,403 34,087 SH   SOLE 0 34,087 0 0
PowerShares S&P SmallCap Industrials Portfolio COM 78464A573 341 6,147 SH   SOLE 0 6,147 0 0
PowerShares S&P SmallCap Health Care Portfolio COM 73937B886 1,289 17,369 SH   SOLE 0 17,369 0 0
PowerShares S&P SmallCap Consumer Discretionary Portfolio COM 73937B837 1,259 24,190 SH   SOLE 0 24,190 0 0
PowerShares S&P SmallCap Consumer Staples Portfolio COM 73937B605 500 7,312 SH   SOLE 0 7,312 0 0
SPDR S&P Regional Banking ETF COM 78464A698 486 8,702 SH   SOLE 0 8,702 0 0
Industrial Select Sector SPDR Fund COM 81369Y704 583 9,246 SH   SOLE 0 9,246 0 0
Energy Select Sector SPDR Fund COM 81369Y506 468 6,254 SH   SOLE 0 6,254 0 0
Materials Select Sector SPDR Fund COM 81369Y100 769 15,142 SH   SOLE 0 15,142 0 0
SPDR S&P Homebuilders ETF COM 78464A888 382 11,158 SH   SOLE 0 11,158 0 0
Vanguard Telecommunication Services Index Fund COM 92204A884 997 9,861 SH   SOLE 0 9,861 0 0
Vanguard REIT Index Fund COM 922908553 649 7,807 SH   SOLE 0 7,807 0 0
Vanguard Consumer Staples Index Fund COM 92204A207 1,150 8,622 SH   SOLE 0 8,622 0 0
VanEck Vectors India Small-Cap Index ETF COM 92189F767 339 7,793 SH   SOLE 0 7,793 0 0
SPDR S&P Regional Banking ETF COM 78464A698 549 9,836 SH   SOLE 0 9,836 0 0
SPDR S&P Insurance ETF COM 78464A789 755 9,055 SH   SOLE 0 9,055 0 0
PowerShares KBW Bank Portfolio COM 73937B746 1,187 24,798 SH   SOLE 0 24,798 0 0
iShares Global Energy ETF COM 464287341 1,102 31,741 SH   SOLE 0 31,741 0 0
PowerShares International BuyBack Achievers Portfolio COM 73937B621 891 30,718 SH   SOLE 0 30,718 0 0
iShares U.S. Medical Devices ETF COM 464288810 578 4,158 SH   SOLE 0 4,158 0 0
iShares U.S. Healthcare Providers ETF COM 464288828 685 5,296 SH   SOLE 0 5,296 0 0
iShares North American Tech-Software ETF COM 464287515 1,029 9,074 SH   SOLE 0 9,074 0 0
iShares Europe Developed Real Estate ETF COM 464288471 300 9,055 SH   SOLE 0 9,055 0 0
iShares Currency Hedged MSCI South Korea ETF COM 46435G888 162 6,549 SH   SOLE 0 6,549 0 0
iShares Currency Hedged MSCI Japan ETF COM 46434V886 1,309 46,076 SH   SOLE 0 46,076 0 0
iShares Currency Hedged MSCI Germany ETF COM 46434V704 986 37,700 SH   SOLE 0 37,700 0 0
iShares MSCI Spain Capped ETF COM 464286764 1,024 37,788 SH   SOLE 0 37,788 0 0
iShares MSCI Australia ETF COM 464286103 367 17,316 SH   SOLE 0 17,316 0 0
iShares MSCI Russia Capped ETF COM 46434G798 323 9,493 SH   SOLE 0 9,493 0 0
WisdomTree Japan Hedged Financials Fund COM 97717W463 450 18,480 SH   SOLE 0 18,480 0 0
WisdomTree Japan Hedged Capital Goods Fund COM 97717W356 464 18,597 SH   SOLE 0 18,597 0 0
Guggenheim China Technology ETF COM 18383Q135 190 5,014 SH   SOLE 0 5,014 0 0
YPF SA Sponsored ADR Class D COM 984245100 207 10,503 SH   SOLE 0 10,503 0 0
Grupo Supervielle SA Sponsored ADR Class B COM 40054A108 79 5,646 SH   SOLE 0 5,646 0 0
iShares MSCI India Small Cap ETF COM 46429B614 284 8,344 SH   SOLE 0 8,344 0 0
Petrobras Argentina SA Sponsored ADR Class B COM 71646J109 53 6,871 SH   SOLE 0 6,871 0 0
Pampa Energia SA Sponsored ADR COM 697660207 186 4,836 SH   SOLE 0 4,836 0 0
SPDR S&P International Health Care Sector ETF COM 78463X681 548 12,244 SH   SOLE 0 12,244 0 0
SPDR S&P International Materials Sector ETF COM 78463X665 563 27,398 SH   SOLE 0 27,398 0 0
SPDR S&P International Energy Sector ETF COM 78463X715 977 52,059 SH   SOLE 0 52,059 0 0
SPDR S&P International Consumer Staples Sector ETF COM 78463X723 1,441 36,046 SH   SOLE 0 36,046 0 0
SPDR S&P International Industrial Sector ETF COM 78463X673 512 16,915 SH   SOLE 0 16,915 0 0
PowerShares International BuyBack Achievers Portfolio COM 73937B621 906 31,247 SH   SOLE 0 31,247 0 0
iShares Currency Hedged MSCI South Korea ETF COM 46435G888 385 15,529 SH   SOLE 0 15,529 0 0
iShares Currency Hedged MSCI Spain ETF COM 46435G813 799 39,199 SH   SOLE 0 39,199 0 0
iShares Currency Hedged MSCI Germany ETF COM 46434V704 860 32,897 SH   SOLE 0 32,897 0 0
Grupo Financiero Galicia SA Sponsored ADR Class B COM 399909100 150 4,976 SH   SOLE 0 4,976 0 0
iShares MSCI Spain Capped ETF COM 464286764 335 12,391 SH   SOLE 0 12,391 0 0
iShares MSCI Germany ETF COM 464286806 622 23,147 SH   SOLE 0 23,147 0 0
iShares MSCI Australia ETF COM 464286103 678 31,946 SH   SOLE 0 31,946 0 0
iShares MSCI Europe Financials ETF COM 464289180 1,106 57,439 SH   SOLE 0 57,439 0 0
iShares MSCI Russia Capped ETF COM 46434G798 621 18,230 SH   SOLE 0 18,230 0 0
WisdomTree Japan Hedged Financials Fund COM 97717W463 2,729 111,274 SH   SOLE 0 111,274 0 0
WisdomTree Japan Hedged Capital Goods Fund COM 97717W356 641 25,841 SH   SOLE 0 25,841 0 0
WisdomTree Emerging Markets High Dividend Fund COM 97717W315 2,110 54,774 SH   SOLE 0 54,774 0 0
Cresud SA Sponsored ADR COM 226406106 82 4,852 SH   SOLE 0 4,852 0 0
Guggenheim China Technology ETF COM 18383Q135 185 4,870 SH   SOLE 0 4,870 0 0
Banco Macro SA Sponsored ADR Class B COM 05961W105 163 2,225 SH   SOLE 0 2,225 0 0
BBVA Banco Frances SA Sponsored ADR COM 07329M100 76 4,132 SH   SOLE 0 4,132 0 0
Adecoagro S.A. COM L00849106 143 13,310 SH   SOLE 0 13,310 0 0
YPF SA Sponsored ADR Class D COM 984245100 1,017 51,596 SH   SOLE 0 51,596 0 0
Industrial Select Sector SPDR Fund COM 81369Y704 8,711 138,014 SH   SOLE 0 138,014 0 0
Energy Select Sector SPDR Fund COM 81369Y506 7,821 104,457 SH   SOLE 0 104,457 0 0
Materials Select Sector SPDR Fund COM 81369Y100 10,757 212,014 SH   SOLE 0 212,014 0 0
SPDR S&P Homebuilders ETF COM 78464A888 3,415 99,480 SH   SOLE 0 99,480 0 0
Vanguard Telecommunication Services Index Fund COM 92204A884 1,823 18,009 SH   SOLE 0 18,009 0 0
Vanguard Consumer Staples Index Fund COM 92204A207 4,533 33,998 SH   SOLE 0 33,998 0 0
Grupo Supervielle SA Sponsored ADR Class B COM 40054A108 393 28,055 SH   SOLE 0 28,055 0 0
VanEck Vectors India Small-Cap Index ETF COM 92189F767 2,105 48,318 SH   SOLE 0 48,318 0 0
Pampa Energia SA Sponsored ADR COM 697660207 912 23,649 SH   SOLE 0 23,649 0 0
SPDR S&P Regional Banking ETF COM 78464A698 6,136 109,771 SH   SOLE 0 109,771 0 0
SPDR S&P Insurance ETF COM 78464A789 7,333 87,837 SH   SOLE 0 87,837 0 0
PowerShares KBW Bank Portfolio COM 73937B746 13,278 276,753 SH   SOLE 0 276,753 0 0
iShares Global Energy ETF COM 464287341 5,232 150,588 SH   SOLE 0 150,588 0 0
PowerShares International BuyBack Achievers Portfolio COM 73937B621 10,200 351,609 SH   SOLE 0 351,609 0 0
iShares U.S. Medical Devices ETF COM 464288810 2,980 21,413 SH   SOLE 0 21,413 0 0
iShares U.S. Healthcare Providers ETF COM 464288828 12,765 98,647 SH   SOLE 0 98,647 0 0
iShares North American Tech-Software ETF COM 464287515 16,791 148,257 SH   SOLE 0 148,257 0 0
iShares Europe Developed Real Estate ETF COM 464288471 3,457 104,163 SH   SOLE 0 104,163 0 0
iShares Currency Hedged MSCI South Korea ETF COM 46435G888 5,296 213,602 SH   SOLE 0 213,602 0 0
iShares Currency Hedged MSCI Japan ETF COM 46434V886 12,760 448,213 SH   SOLE 0 448,213 0 0
iShares Currency Hedged MSCI Germany ETF COM 46434V704 13,262 506,919 SH   SOLE 0 506,919 0 0
Grupo Financiero Galicia SA Sponsored ADR Class B COM 399909100 730 24,189 SH   SOLE 0 24,189 0 0
iShares MSCI Spain Capped ETF COM 464286764 9,779 360,850 SH   SOLE 0 360,850 0 0
iShares MSCI Japan ETF COM 46434G822 12,540 248,839 SH   SOLE 0 248,839 0 0
iShares MSCI Australia ETF COM 464286103 4,023 189,601 SH   SOLE 0 189,601 0 0
iShares MSCI Russia Capped ETF COM 46434G798 4,078 119,716 SH   SOLE 0 119,716 0 0
WisdomTree Japan Hedged Financials Fund COM 97717W463 6,474 264,158 SH   SOLE 0 264,158 0 0
WisdomTree Japan Hedged Capital Goods Fund COM 97717W356 6,596 265,832 SH   SOLE 0 265,832 0 0
Cresud SA Sponsored ADR COM 226406106 388 22,898 SH   SOLE 0 22,898 0 0
Guggenheim China Technology ETF COM 18383Q135 2,129 55,963 SH   SOLE 0 55,963 0 0
Banco Macro SA Sponsored ADR Class B COM 05961W105 796 10,840 SH   SOLE 0 10,840 0 0
BBVA Banco Frances SA Sponsored ADR COM 07329M100 376 20,484 SH   SOLE 0 20,484 0 0
Adecoagro S.A. COM L00849106 690 63,914 SH   SOLE 0 63,914 0 0
YPF SA Sponsored ADR Class D COM 984245100 56 2,848 SH   SOLE 0 2,848 0 0
Utilities Select Sector SPDR Fund COM 81369Y886 556 11,566 SH   SOLE 0 11,566 0 0
Consumer Staples Select Sector SPDR Fund COM 81369Y308 1,568 30,419 SH   SOLE 0 30,419 0 0
Industrial Select Sector SPDR Fund COM 81369Y704 475 7,542 SH   SOLE 0 7,542 0 0
Energy Select Sector SPDR Fund COM 81369Y506 203 2,724 SH   SOLE 0 2,724 0 0
SPDR S&P Homebuilders ETF COM 78464A888 632 18,419 SH   SOLE 0 18,419 0 0
Vanguard Telecommunication Services Index Fund COM 92204A884 590 5,834 SH   SOLE 0 5,834 0 0
Vipshop Holdings Ltd Sponsored ADR COM 92763W103 45 3,931 SH   SOLE 0 3,931 0 0
Grupo Supervielle SA Sponsored ADR Class B COM 40054A108 19 1,415 SH   SOLE 0 1,415 0 0
iShares MSCI India Small Cap ETF COM 46429B614 436 12,793 SH   SOLE 0 12,793 0 0
SPDR EURO STOXX Small Cap ETF COM 78463X392 247 5,219 SH   SOLE 0 5,219 0 0
iShares MSCI Japan Small-Cap ETF COM 464286582 923 14,541 SH   SOLE 0 14,541 0 0
iShares Global Consumer Discretionary ETF COM 464288745 1,290 13,918 SH   SOLE 0 13,918 0 0
Petrobras Argentina SA Sponsored ADR Class B COM 71646J109 14 1,820 SH   SOLE 0 1,820 0 0
Pampa Energia SA Sponsored ADR COM 697660207 50 1,317 SH   SOLE 0 1,317 0 0
iShares Global Materials ETF COM 464288695 945 16,704 SH   SOLE 0 16,704 0 0
Melco Crown Entertainment Limited Sponsored ADR COM 585464100 68 4,050 SH   SOLE 0 4,050 0 0
iShares Global Consumer Staples ETF COM 464288737 809 8,776 SH   SOLE 0 8,776 0 0
SPDR S&P Insurance ETF COM 78464A789 2,263 27,105 SH   SOLE 0 27,105 0 0
JD.com, Inc. Sponsored ADR Class A COM 47215P106 72 2,695 SH   SOLE 0 2,695 0 0
iShares Global Tech ETF COM 464287291 2,720 24,024 SH   SOLE 0 24,024 0 0
iShares Global Energy ETF COM 464287341 1,074 30,915 SH   SOLE 0 30,915 0 0
PowerShares International BuyBack Achievers Portfolio COM 73937B621 755 26,043 SH   SOLE 0 26,043 0 0
iShares U.S. Medical Devices ETF COM 464288810 70 509 SH   SOLE 0 509 0 0
iShares U.S. Healthcare Providers ETF COM 464288828 1,914 14,787 SH   SOLE 0 14,787 0 0
iShares North American Tech-Software ETF COM 464287515 323 2,856 SH   SOLE 0 2,856 0 0
iShares Currency Hedged MSCI South Korea ETF COM 46435G888 452 18,238 SH   SOLE 0 18,238 0 0
iShares Currency Hedged MSCI Germany ETF COM 46434V704 1,259 48,158 SH   SOLE 0 48,158 0 0
Grupo Financiero Galicia SA Sponsored ADR Class B COM 399909100 39 1,319 SH   SOLE 0 1,319 0 0
iShares Global Industrials ETF COM 464288729 1,440 18,755 SH   SOLE 0 18,755 0 0
iShares MSCI Spain Capped ETF COM 464286764 579 21,379 SH   SOLE 0 21,379 0 0
iShares MSCI Japan ETF COM 46434G822 282 5,610 SH   SOLE 0 5,610 0 0
iShares MSCI Australia ETF COM 464286103 612 28,844 SH   SOLE 0 28,844 0 0
WisdomTree Emerging Markets Consumer Growth Fund COM 97717W539 102 5,053 SH   SOLE 0 5,053 0 0
New Oriental Education & Technology Group, Inc. Sponsored ADR COM 647581107 44 915 SH   SOLE 0 915 0 0
Columbia Emerging Markets Consumer ETF COM 19762B509 387 17,052 SH   SOLE 0 17,052 0 0
WisdomTree Japan Hedged Real Estate Fund COM 97717W638 38 2,743 SH   SOLE 0 2,743 0 0
WisdomTree Japan Hedged Health Care Fund COM 97717X503 72 2,185 SH   SOLE 0 2,185 0 0
WisdomTree Emerging Markets High Dividend Fund COM 97717W315 441 11,460 SH   SOLE 0 11,460 0 0
Ctrip.com International Ltd Sponsored ADR COM 22943F100 80 1,842 SH   SOLE 0 1,842 0 0
Cresud SA Sponsored ADR COM 226406106 20 1,218 SH   SOLE 0 1,218 0 0
Guggenheim China Technology ETF COM 18383Q135 338 8,888 SH   SOLE 0 8,888 0 0
Banco Macro SA Sponsored ADR Class B COM 05961W105 45 612 SH   SOLE 0 612 0 0
SPDR MSCI Europe Health Care UCITS ETF COM F89826196 533 4,192 SH   SOLE 0 4,192 0 0
BBVA Banco Frances SA Sponsored ADR COM 07329M100 19 1,035 SH   SOLE 0 1,035 0 0
Alibaba Group Holding Ltd. Sponsored ADR COM 01609W102 50 517 SH   SOLE 0 517 0 0
Adecoagro S.A. COM L00849106 38 3,517 SH   SOLE 0 3,517 0 0
SPDR Barclays Intermediate Term Treasury ETF COM 78464A672 3,363 56,266 SH   SOLE 0 56,266 0 0
SPDR Barclays Aggregate Bond ETF COM 78464A649 2,240 39,191 SH   SOLE 0 39,191 0 0
YPF SA Sponsored ADR Class D COM 984245100 224 11,400 SH   SOLE 0 11,400 0 0
Grupo Supervielle SA Sponsored ADR Class B COM 40054A108 85 6,100 SH   SOLE 0 6,100 0 0
iShares MSCI India Small Cap ETF COM 46429B614 294 8,630 SH   SOLE 0 8,630 0 0
Pampa Energia SA Sponsored ADR COM 697660207 197 5,100 SH   SOLE 0 5,100 0 0
SPDR S&P International Telecommunications Sector ETF COM 78463X640 678 28,800 SH   SOLE 0 28,800 0 0
SPDR S&P International Health Care Sector ETF COM 78463X681 613 13,700 SH   SOLE 0 13,700 0 0
SPDR S&P International Materials Sector ETF COM 78463X665 619 30,100 SH   SOLE 0 30,100 0 0
SPDR S&P International Energy Sector ETF COM 78463X715 1,061 56,500 SH   SOLE 0 56,500 0 0
SPDR S&P International Consumer Staples Sector ETF COM 78463X723 1,200 30,020 SH   SOLE 0 30,020 0 0
SPDR S&P International Industrial Sector ETF COM 78463X673 560 18,500 SH   SOLE 0 18,500 0 0
PowerShares International BuyBack Achievers Portfolio COM 73937B621 1,006 34,700 SH   SOLE 0 34,700 0 0
iShares Currency Hedged MSCI South Korea ETF COM 46435G888 424 17,100 SH   SOLE 0 17,100 0 0
iShares Currency Hedged MSCI Spain ETF COM 46435G813 855 41,940 SH   SOLE 0 41,940 0 0
iShares Currency Hedged MSCI Germany ETF COM 46434V704 926 35,399 SH   SOLE 0 35,399 0 0
Grupo Financiero Galicia SA Sponsored ADR Class B COM 399909100 162 5,400 SH   SOLE 0 5,400 0 0
iShares MSCI Spain Capped ETF COM 464286764 368 13,600 SH   SOLE 0 13,600 0 0
iShares MSCI Germany ETF COM 464286806 685 25,500 SH   SOLE 0 25,500 0 0
iShares MSCI Australia ETF COM 464286103 702 33,100 SH   SOLE 0 33,100 0 0
iShares MSCI Europe Financials ETF COM 464289180 1,193 61,946 SH   SOLE 0 61,946 0 0
iShares MSCI Russia Capped ETF COM 46434G798 685 20,112 SH   SOLE 0 20,112 0 0
WisdomTree Japan Hedged Financials Fund COM 97717W463 2,988 121,845 SH   SOLE 0 121,845 0 0
WisdomTree Japan Hedged Capital Goods Fund COM 97717W356 680 27,436 SH   SOLE 0 27,436 0 0
WisdomTree Emerging Markets High Dividend Fund COM 97717W315 2,308 59,900 SH   SOLE 0 59,900 0 0
Cresud SA Sponsored ADR COM 226406106 87 5,139 SH   SOLE 0 5,139 0 0
Guggenheim China Technology ETF COM 18383Q135 204 5,372 SH   SOLE 0 5,372 0 0
Banco Macro SA Sponsored ADR Class B COM 05961W105 169 2,300 SH   SOLE 0 2,300 0 0
BBVA Banco Frances SA Sponsored ADR COM 07329M100 82 4,500 SH   SOLE 0 4,500 0 0
Adecoagro S.A. COM L00849106 153 14,200 SH   SOLE 0 14,200 0 0
YPF SA Sponsored ADR Class D COM 984245100 346 17,600 SH   SOLE 0 17,600 0 0
Grupo Supervielle SA Sponsored ADR Class B COM 40054A108 133 9,500 SH   SOLE 0 9,500 0 0
iShares MSCI India Small Cap ETF COM 46429B614 453 13,286 SH   SOLE 0 13,286 0 0
Pampa Energia SA Sponsored ADR COM 697660207 301 7,800 SH   SOLE 0 7,800 0 0
SPDR S&P International Telecommunications Sector ETF COM 78463X640 1,048 44,500 SH   SOLE 0 44,500 0 0
SPDR S&P International Health Care Sector ETF COM 78463X681 944 21,100 SH   SOLE 0 21,100 0 0
SPDR S&P International Materials Sector ETF COM 78463X665 956 46,500 SH   SOLE 0 46,500 0 0
SPDR S&P International Energy Sector ETF COM 78463X715 1,635 87,100 SH   SOLE 0 87,100 0 0
SPDR S&P International Consumer Staples Sector ETF COM 78463X723 1,848 46,219 SH   SOLE 0 46,219 0 0
SPDR S&P International Industrial Sector ETF COM 78463X673 866 28,600 SH   SOLE 0 28,600 0 0
PowerShares International BuyBack Achievers Portfolio COM 73937B621 1,554 53,600 SH   SOLE 0 53,600 0 0
iShares Currency Hedged MSCI South Korea ETF COM 46435G888 652 26,300 SH   SOLE 0 26,300 0 0
iShares Currency Hedged MSCI Spain ETF COM 46435G813 1,317 64,570 SH   SOLE 0 64,570 0 0
iShares Currency Hedged MSCI Germany ETF COM 46434V704 1,425 54,499 SH   SOLE 0 54,499 0 0
Grupo Financiero Galicia SA Sponsored ADR Class B COM 399909100 253 8,400 SH   SOLE 0 8,400 0 0
iShares MSCI Spain Capped ETF COM 464286764 569 21,000 SH   SOLE 0 21,000 0 0
iShares MSCI Germany ETF COM 464286806 1,059 39,400 SH   SOLE 0 39,400 0 0
iShares MSCI Australia ETF COM 464286103 1,084 51,100 SH   SOLE 0 51,100 0 0
iShares MSCI Europe Financials ETF COM 464289180 1,837 95,371 SH   SOLE 0 95,371 0 0
iShares MSCI Russia Capped ETF COM 46434G798 1,055 30,964 SH   SOLE 0 30,964 0 0
WisdomTree Japan Hedged Financials Fund COM 97717W463 4,601 187,591 SH   SOLE 0 187,591 0 0
WisdomTree Japan Hedged Capital Goods Fund COM 97717W356 1,048 42,239 SH   SOLE 0 42,239 0 0
WisdomTree Emerging Markets High Dividend Fund COM 97717W315 3,556 92,300 SH   SOLE 0 92,300 0 0
Cresud SA Sponsored ADR COM 226406106 133 7,860 SH   SOLE 0 7,860 0 0
Guggenheim China Technology ETF COM 18383Q135 314 8,271 SH   SOLE 0 8,271 0 0
Banco Macro SA Sponsored ADR Class B COM 05961W105 265 3,600 SH   SOLE 0 3,600 0 0
BBVA Banco Frances SA Sponsored ADR COM 07329M100 128 7,000 SH   SOLE 0 7,000 0 0
Adecoagro S.A. COM L00849106 237 22,000 SH   SOLE 0 22,000 0 0
YPF SA Sponsored ADR Class D COM 984245100 407 20,700 SH   SOLE 0 20,700 0 0
Grupo Supervielle SA Sponsored ADR Class B COM 40054A108 157 11,200 SH   SOLE 0 11,200 0 0
iShares MSCI India Small Cap ETF COM 46429B614 533 15,646 SH   SOLE 0 15,646 0 0
Pampa Energia SA Sponsored ADR COM 697660207 356 9,200 SH   SOLE 0 9,200 0 0
SPDR S&P International Telecommunications Sector ETF COM 78463X640 1,232 52,300 SH   SOLE 0 52,300 0 0
SPDR S&P International Health Care Sector ETF COM 78463X681 1,115 24,900 SH   SOLE 0 24,900 0 0
SPDR S&P International Materials Sector ETF COM 78463X665 1,125 54,700 SH   SOLE 0 54,700 0 0
SPDR S&P International Energy Sector ETF COM 78463X715 1,926 102,600 SH   SOLE 0 102,600 0 0
SPDR S&P International Consumer Staples Sector ETF COM 78463X723 2,177 54,427 SH   SOLE 0 54,427 0 0
SPDR S&P International Industrial Sector ETF COM 78463X673 1,020 33,700 SH   SOLE 0 33,700 0 0
PowerShares International BuyBack Achievers Portfolio COM 73937B621 1,830 63,100 SH   SOLE 0 63,100 0 0
iShares Currency Hedged MSCI South Korea ETF COM 46435G888 768 31,000 SH   SOLE 0 31,000 0 0
iShares Currency Hedged MSCI Spain ETF COM 46435G813 1,551 76,037 SH   SOLE 0 76,037 0 0
iShares Currency Hedged MSCI Germany ETF COM 46434V704 1,679 64,178 SH   SOLE 0 64,178 0 0
Grupo Financiero Galicia SA Sponsored ADR Class B COM 399909100 298 9,900 SH   SOLE 0 9,900 0 0
iShares MSCI Spain Capped ETF COM 464286764 669 24,700 SH   SOLE 0 24,700 0 0
iShares MSCI Germany ETF COM 464286806 1,247 46,400 SH   SOLE 0 46,400 0 0
iShares MSCI Australia ETF COM 464286103 1,275 60,100 SH   SOLE 0 60,100 0 0
iShares MSCI Europe Financials ETF COM 464289180 2,164 112,308 SH   SOLE 0 112,308 0 0
iShares MSCI Russia Capped ETF COM 46434G798 1,242 36,463 SH   SOLE 0 36,463 0 0
WisdomTree Japan Hedged Financials Fund COM 97717W463 5,418 220,905 SH   SOLE 0 220,905 0 0
WisdomTree Japan Hedged Capital Goods Fund COM 97717W356 1,234 49,740 SH   SOLE 0 49,740 0 0
WisdomTree Emerging Markets High Dividend Fund COM 97717W315 4,188 108,700 SH   SOLE 0 108,700 0 0
Cresud SA Sponsored ADR COM 226406106 157 9,271 SH   SOLE 0 9,271 0 0
Guggenheim China Technology ETF COM 18383Q135 370 9,740 SH   SOLE 0 9,740 0 0
Banco Macro SA Sponsored ADR Class B COM 05961W105 316 4,300 SH   SOLE 0 4,300 0 0
BBVA Banco Frances SA Sponsored ADR COM 07329M100 150 8,200 SH   SOLE 0 8,200 0 0
Adecoagro S.A. COM L00849106 280 25,900 SH   SOLE 0 25,900 0 0