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
CURRENCYSHS BRIT POUND STER BRIT POUND STE 23129S106 5,447 32,352 SH   SOLE   12,111 0 20,241
ISHARES CORE S&P500 ETF 464287200 4,347 22,066 SH   SOLE   9,653 0 12,413
ISHARES CORE TOTUSBD ETF 464287226 12,018 109,853 SH   SOLE   47,204 0 62,649
ISHARES MSCI EMG MKT ETF 464287234 18,272 422,663 SH   SOLE   151,343 0 271,320
ISHARES IBOXX INV CP ETF 464287242 11,859 99,437 SH   SOLE   42,992 0 56,445
ISHARES S&P 500 VAL ETF 464287408 65,308 723,399 SH   SOLE   252,757 0 470,642
ISHARES COHEN&STEER REIT 464287564 3,490 39,962 SH   SOLE   20,632 0 19,330
ISHARES U.S. UTILITS ETF 464287697 13,247 118,945 SH   SOLE   42,605 0 76,340
ISHARES U.S. TECH ETF 464287721 13,254 136,813 SH   SOLE   49,005 0 87,808
ISHARES US HLTHCARE ETF 464287762 13,330 103,973 SH   SOLE   37,258 0 66,715
ISHARES U.S. ENERGY ETF 464287796 13,139 231,322 SH   SOLE   82,803 0 148,519
ISHARES U.S. BAS MTL ETF 464287838 13,129 149,989 SH   SOLE   53,674 0 96,315
ISHARES JP MOR EM MK ETF 464288281 12,127 105,209 SH   SOLE   45,351 0 59,858
ISHARES MRG RL ES CP ETF 464288539 3,318 262,527 SH   SOLE   135,876 0 126,651
ISHARES INTERM CR BD ETF 464288638 8,520 77,320 SH   SOLE   30,709 0 46,611
ISHARES U.S. PFD STK ETF 464288687 3,439 86,171 SH   SOLE   44,517 0 41,654
ISHARES TR EAFE MIN VOL ETF 46429B689 21,985 336,267 SH   SOLE   128,617 0 207,650
PIMCO ETF TR 0-5 HIGH YIELD 72201R783 5,269 49,300 SH   SOLE   18,449 0 30,851
PIMCO ETF TR INV GRD CRP BD 72201R817 6,050 58,615 SH   SOLE   4,774 0 53,841
PIMCO ETF TR ENHAN SHRT MAT 72201R833 1,870 18,438 SH   SOLE   2,218 0 16,220
POWERSHARES ETF TR II S&P500 LOW VOL 73937B779 5,530 155,370 SH   SOLE   58,166 0 97,204
POWERSHARES ETF TRUST II SENIOR LN PORT 73936Q769 12,872 517,559 SH   SOLE   148,478 0 369,081
POWERSHARES ETF TRUST II INTL CORP BOND 73936Q835 1,924 62,723 SH   SOLE   7,519 0 55,204
POWERSHARES GLOBAL ETF TRUST AGG PFD PORT 73936T565 1,946 133,008 SH   SOLE   16,108 0 116,900
POWERSHARES GLOBAL ETF TRUST SOVEREIGN DEBT 73936T573 6,288 215,635 SH   SOLE   17,624 0 198,011
POWERSHS DB MULTI SECT COMM PS DB AGRICUL FD 73936B408 5,274 192,079 SH   SOLE   71,732 0 120,347
POWERSHS DB MULTI SECT COMM DB OIL FUND 73936B507 5,630 183,038 SH   SOLE   68,570 0 114,468
SPDR DOW JONES INDL AVRG ETF UT SER 1 78467X109 3,466 20,646 SH   SOLE   10,663 0 9,983
SPDR INDEX SHS FDS S&P EMKTSC ETF 78463X756 18,288 363,502 SH   SOLE   130,170 0 233,332
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 4,226 51,402 SH   SOLE   3,273 0 48,129
VANGUARD INDEX FDS MCAP VL IDXVIP 922908512 2,175 25,012 SH   SOLE   3,089 0 21,923
VANGUARD INDEX FDS REIT ETF 922908553 7,546 100,831 SH   SOLE   31,188 0 69,643
VANGUARD INDEX FDS LARGE CAP ETF 922908637 1,631 18,116 SH   SOLE   1,461 0 16,655
VANGUARD INDEX FDS GROWTH ETF 922908736 2,103 21,263 SH   SOLE   2,472 0 18,791
VANGUARD INDEX FDS VALUE ETF 922908744 37,193 459,456 SH   SOLE   50,694 0 408,762
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 9,091 210,780 SH   SOLE   23,709 0 187,071
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 8,893 148,345 SH   SOLE   16,716 0 131,629
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 4,234 48,918 SH   SOLE   3,117 0 45,801
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 8,920 209,446 SH   SOLE   23,593 0 185,853
VANGUARD WORLD FDS ENERGY ETF 92204A306 6,611 45,922 SH   SOLE   5,116 0 40,806
VANGUARD WORLD FDS HEALTH CAR ETF 92204A504 6,572 58,876 SH   SOLE   6,636 0 52,240
VANGUARD WORLD FDS INF TECH ETF 92204A702 6,543 67,603 SH   SOLE   7,625 0 59,978
VANGUARD WORLD FDS MATERIALS ETF 92204A801 6,512 58,265 SH   SOLE   6,576 0 51,689
VANGUARD WORLD FDS UTILITIES ETF 92204A876 6,531 67,538 SH   SOLE   7,589 0 59,949