The Secure Internet of Things Research Program held its first annual research retreat on June 4-5, 2015. The event consisted of a mixture of talks, debate, and discussion between faculty, students, industrial affiliates, and guests. The day began with a series of short talks by faculty to lay out the current state of IoT technology and research in a few key areas, followed by short talks by companies to describe their interests and challenging problems. The middle of the day was a research poster session for students to present their work to affiliates, guests, and each other. The afternoon consisted of a debate on the role of transparency in future IoT systems, brief presentations on three research projects that were just starting, and feedback.