Instuitional Investor - Valen Private Capital, Llc

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Spdr S & P 500 Etf Trust	SPY	60,188	$45,901,428	14.19%
2.	Spdr Gold Trust	GLD	79,781	$30,383,796	9.4%
3.	Ishares Tr		283,934	$28,586,519	8.84%
4.	Spdr Dow Jones Ind Avg Etf Trust	DIA	42,562	$21,645,015	6.69%
5.	Micron Technology Inc	MU	17,872	$19,035,220	5.89%