13F-HR for Period Ended 2016-12-31

Market Value: $ 140,300,000
Total Holdings: 55
File Date: 2017-01-11
Investor Overview: CUMBERLAND ADVISORS INC
(Original Filing)

All hedge funds or institutions that manage over $100M are required by the SEC to file quarterly reports on their holdings. These reports are called 13F reports. However, the filings are required the following quarter from the reporting period, which means that by the time the filing is made (and we see them), the information could be five months old.

For funds with long term positions that make few trades, the holdings might closely resemble their current holdings, even after several months. However, for funds that have high turnover, the holdings data we see might differ significantly from their current holdings.

Institutions are required to report CALL and PUT options, and those positions are identified in the table. However, they are not required to report short positions.

Security Imputed
Share Price
Prev
Shares
Current
Shares
Change
(Percent)
Prev Value
(USD x1000)
Current Value
(USD x1000)
Change
(Percent)
RSP / Guggenheim S&P 500 Equal Weight ETF 86.64 437,015 266,015 -39.13 36,530 23,048 -36.91
XLK / SPDR Technology Select Sector ETF 48.36 0 215,960 0.00 0 10,444
IJR / iShares Core S&P Small-Cap ETF 137.52 133,650 70,520 -47.24 16,593 9,698 -41.55
IGN / iShares North American Tech-Multimedia Networking ETF 43.62 226,455 174,848 -22.79 9,278 7,627 -17.79
ITB / iShares U.S. Home Construction ETF 27.48 229,240 268,380 17.07 6,316 7,375 16.77
SCZ / iShares MSCI EAFE Small-Cap ETF 49.84 160,885 145,830 -9.36 8,432 7,268 -13.80
Powershares ETF Trust / KBW BK Port (73937B746) 47.27 150,220 138,910 -7.53 5,480 6,566 19.82
XOP / SPDR S&P Oil & Gas Exploration & Production ETF 41.42 120,080 121,340 1.05 4,618 5,026 8.83
IHI / iShares U.S. Medical Devices ETF 133.16 40,440 34,920 -13.65 5,880 4,650 -20.92
FIRST TR ISE REVERE NAT GAS / (33733E807) 26.17 170,980 176,840 3.43 4,517 4,628 2.46
DXJ / WisdomTree Japan Hedged Equity Fund 49.54 171,439 89,899 -47.56 7,356 4,454 -39.45
AAXJ / iShares MSCI All Country Asia ex Japan ETF 54.93 86,340 78,060 -9.59 5,225 4,288 -17.93
SPY / SPDR S&P 500 ETF Trust 223.51 39,130 17,780 -54.56 8,464 3,974 -53.05
VWO / Vanguard Emerging Market VIPERS 35.78 110,300 103,110 -6.52 4,151 3,689 -11.13
XME / SPDR Series Trust 30.41 0 119,790 0.00 0 3,643
HEDJ / WisdomTree International Hedged Equity Fund 57.40 81,613 61,603 -24.52 4,386 3,536 -19.38
EEMV / iShares MSCI Emerging Markets Minimum Volatility Index Fund 48.91 60,380 2,953
EMLC / VanEck Vectors ETF TR 20.92 141,130 2,952
EWA / iShares MSCI Australia ETF 20.23 149,890 135,990 -9.27 3,133 2,751 -12.19
QQQ / PowerShares QQQ Trust 118.47 17,090 22,680 32.71 2,029 2,687 32.43
MDY / SPDR S&P Midcap 400 ETF 301.68 9,295 8,645 -6.99 2,624 2,608 -0.61
ILF / iShares Latin America 40 ETF 27.58 88,700 79,990 -9.82 2,487 2,206 -11.30
EPI / WisdomTree India Earnings Fund 20.20 101,170 91,320 -9.74 2,187 1,845 -15.64
SDOG / ALPS Sector Dividend Dogs ETF 42.08 39,140 1,647
ECH / iShares MSCI Chile Capped ETF 37.43 0 38,820 0.00 0 1,453
EWH / iShares MSCI Hong Kong ETF 19.48 0 72,390 0.00 0 1,410
ISHARES INC / MSCI JAPAN (46434G822) 48.86 27,918 1,364
Vanguard World Fd / Cons Dis ETF (92204A108) 128.63 10,200 9,220 -9.61 1,283 1,186 -7.56
EWG / iShares MSCI Germany ETF 26.48 45,900 41,660 -9.24 1,206 1,103 -8.54
Wisdomtree Tr / Europe SMCP Dv (97717W869) 54.62 20,540 18,490 -9.98 1,136 1,010 -11.09
XLP / SPDR Consumer Staples Select Sector ETF 51.70 21,440 19,380 -9.61 1,141 1,002 -12.18
XLB / SPDR Materials Select Sector ETF 49.66 13,170 11,940 -9.34 629 593 -5.72
IHSEF / IShares 61.62 9,380 578
VANGUARD MSCI PACIFIC ETF / MSCI PAC ETF (922042866) 58.18 7,195 6,360 -11.61 436 370 -15.14
XBI / SPDR S&P Biotech ETF 59.16 0 5,460 0.00 0 323
EPD / Enterprise Products Partners 27.10 1,350 1,550 14.81 37 42 13.51
MMP / Magellan Midstream Partners 75.68 320 370 15.62 23 28 21.74
WES / Western Gas Partners 60.00 350 350 0.00 19 21 10.53
SEP / Spectra Energy Partners LP 45.45 440 440 0.00 19 20 5.26
MPLX / MPLX LP 35.29 510 510 0.00 17 18 5.88
EQM / EQT Midstream Partners LP 77.27 140 220 57.14 11 17 54.55
TLLP / Tesoro Logistics LP 50.79 315 315 0.00 15 16 6.67
HEP / Holly Energy Partners 31.82 440 440 0.00 15 14 -6.67
PSXP / Phillips 66 Partners LP 50.00 240 240 0.00 12 12 0.00
VLP / Valero Energy Partners LP 45.83 240 240 0.00 10 11 10.00
DKL / Delek Logistics Partners LP 28.12 320 320 0.00 9 9 0.00
Market Vectors ETF TR / Oil Svcs ETF (92189F718) 195,960 0 -100.00 5,738 0 -100.00