UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549

                                   FORM 13F

                              FORM 13F COVER PAGE

           Report for the Calendar Year or Quarter Ended: 12/31/2011

Check here if this is an Amendment[ ];   Amendment Number:____________
This Amendment (Check only one.):                [ ]  is a restatement.
                                                 [ ]  adds new holdings entries.

Institutional Investment Manager Filing this report:
Name:       Ifrah Financial Services, Inc.
Address:    17300 Chenal Parkway, Suite 150
            Little Rock, AR 72223

13F File Number: 28-12063

The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:

Name:           Patrick Ifrah
Title:          President & CEO
Telephone:      501-821-7733

Signature, Place, and Date of Signing:

/s/Patrick Ifrah          Little Rock, AR        02/10/2012

Report Type (Check only one.):
[X]        13F HOLDINGS REPORT
[ ]        13F NOTICE
[ ]        13F COMBINATION REPORT

List of other managers reporting for this Manager:
None

I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934.


FORM 13F SUMMARY PAGE

Report Summary:
Number of Other Included Managers:          0
Form 13F Information Table Entry Total:    88
Form 13F Information Table Value Total:   167,732,000

List of Other Included Managers:
None


                                                                     
                                                     FORM 13F INFORMATION TABLE
SECU_NAME	TITLE OF CLASS	CUSIP	VALUE (THOUSANDS) SHARES	DISCRETION	OTHER MANAGERS	VOTING AUTH
Abbott Laboratories	COM	2824100		1323	23,536.28238 SH	SOLE	N/A	SOLE
Advance America, Cash 	COM	00739W107	219	24,501.00000 SH	SOLE	N/A	SOLE
Aetna			COM	00817Y108	837	19,842.78910 SH	SOLE	N/A	SOLE
American Eagle Outfitt	COM	02553E106	379	24,852.16840 SH	SOLE	N/A	SOLE
AmTrust Financial Serv	COM	32359309	296	12,468.15268 SH	SOLE	N/A	SOLE
Assurant		COM	04621X108	430	10,490.57856 SH	SOLE	N/A	SOLE
AT&T			COM	1957109		805	26,624.63984 SH	SOLE	N/A	SOLE
Ball			COM	58498106	414	11,598.12005 SH	SOLE	N/A	SOLE
Barclays Bank iPath ET	COM	06738C778	2066	48,926.00000 SH	SOLE	N/A	SOLE
BBVA Banco Frances SA 	ORD	07329M100	208	42,746.76689 SH	SOLE	N/A	SOLE
Buckeye Technologies I	COM	118255108	411	12,314.56928 SH	SOLE	N/A	SOLE
CenterPoint Energy	COM	15189T107	479	23,889.63614 SH	SOLE	N/A	SOLE
CGI Group A		COM	39945C109	296	15,735.80649 SH	SOLE	N/A	SOLE
Cigna			COM	125509109	759	18,087.76746 SH	SOLE	N/A	SOLE
Comcast A		COM	20030N101	379	16,026.65250 SH	SOLE	N/A	SOLE
Coventry Health Care	COM	222862104	618	20,370.84507 SH	SOLE	N/A	SOLE
CVS Caremark		COM	126650100	471	11,561.55633 SH	SOLE	N/A	SOLE
Dell			COM	24702R101	203	13,898.93341 SH	SOLE	N/A	SOLE
Discover Financial Ser	COM	254709108	283	11,804.55173 SH	SOLE	N/A	SOLE
Duke Energy		COM	26441C105	280	12,771.19374 SH	SOLE	N/A	SOLE
DuPont De Nemours E.I.	COM	263534109	460	10,069.80461 SH	SOLE	N/A	SOLE
Endo Pharmaceutical Hl	COM	29264F205	610	17,679.65449 SH	SOLE	N/A	SOLE
Exxon Mobil Corp.	COM	30231G102	1239	14,628.44510 SH	SOLE	N/A	SOLE
Foot Locker		COM	344849104	751	31,528.79582 SH	SOLE	N/A	SOLE
Gartner Group Inc. Cl 	COM	464288752	293	24,741.65755 SH	SOLE	N/A	SOLE
General Electric	COM	369604103	562	31,398.00000 SH	SOLE	N/A	SOLE
Gilead Sciences		COM	375558103	417	10,191.46617 SH	SOLE	N/A	SOLE
Home Depot		COM	437076102	535	12,737.83196 SH	SOLE	N/A	SOLE
Humana			COM	444859102	1160	13,240.59899 SH	SOLE	N/A	SOLE
Intel			COM	458140100	1121	46,234.10065 SH	SOLE	N/A	SOLE
iShares Barclays 1-3 Y	COM	464288646	1558	14,961.01209 SH	SOLE	N/A	SOLE
iShares Barclays 1-3 Y	COM	464287457	2754	32,594.47968 SH	SOLE	N/A	SOLE
iShares Barclays 10-20	COM	464288653	7628	57,388.15856 SH	SOLE	N/A	SOLE
iShares Barclays 20 Ye	COM	464287432	2074	17,110.40223 SH	SOLE	N/A	SOLE
iShares Barclays 3-7 Y	COM	464288661	1878	15,393.80144 SH	SOLE	N/A	SOLE
iShares Barclays 7-10 	COM	464287440	5404	51,194.58658 SH	SOLE	N/A	SOLE
iShares Barclays Aggre	COM	464287226	3495	31,700.94787 SH	SOLE	N/A	SOLE
iShares Barclays Gover	COM	464288596	1702	14,958.34783 SH	SOLE	N/A	SOLE
iShares Barclays MBS B	COM	464288588	8365	77,407.00339 SH	SOLE	N/A	SOLE
iShares Barclays Short	COM	464288679	13681	124,118.2614 SH	SOLE	N/A	SOLE
iShares Barclays TIPS 	COM	464287176	1801	15,437.52558 SH	SOLE	N/A	SOLE
iShares Cohen & Steers	COM	464287564	2434	34,674.78315 SH	SOLE	N/A	SOLE
iShares Dow Jones US I	COM	464287754	918	14,444.09532 SH	SOLE	N/A	SOLE
iShares Goldman Sachs 	COM	464287531	563	20,620.29425 SH	SOLE	N/A	SOLE
iShares iBoxx $ High Y	COM	464288513	2757	30,831.51986 SH	SOLE	N/A	SOLE
iShares iBoxx$ Corp Bd	COM	464287242	8689	76,388.82591 SH	SOLE	N/A	SOLE
iShares MSCI Australia	COM	464286103	298	13,935.24938 SH	SOLE	N/A	SOLE
iShares MSCI EAFE Grow	COM	464288885	4815	92,596.32456 SH	SOLE	N/A	SOLE
iShares MSCI EAFE Smal	COM	464288273	3219	92,633.00000 SH	SOLE	N/A	SOLE
iShares MSCI Germany I	COM	464286806	313	16,335.75250 SH	SOLE	N/A	SOLE
iShares MSCI Netherlan	COM	464286814	317	18,422.84730 SH	SOLE	N/A	SOLE
iShares MSCI Sweden In	COM	464286756	645	25,695.05696 SH	SOLE	N/A	SOLE
iShares MSCI United Ki	COM	464286699	1005	62,223.68494 SH	SOLE	N/A	SOLE
iShares S&P 500/BARRA 	COM	464287408	9980	172,585.4417 SH	SOLE	N/A	SOLE
iShares S&P MidCap 400	COM	464287705	7719	101,596.4463 SH	SOLE	N/A	SOLE
iShares S&P SmallCap 6	COM	464287879	6532	93,636.59626 SH	SOLE	N/A	SOLE
iShares Tr Ftse Xnhua 	COM	464287184	908	26,045.69624 SH	SOLE	N/A	SOLE
iShares Tr Msci Emerg 	COM	464287234	3020	79,620.00000 SH	SOLE	N/A	SOLE
Kroger			COM	501044101	368	15,197.33758 SH	SOLE	N/A	SOLE
Lifepoint Hospitals	COM	53219L109	392	10,578.08506 SH	SOLE	N/A	SOLE
Maiden Holdings, Ltd.	COM	G5753U112	240	27,471.06694 SH	SOLE	N/A	SOLE
Marathon Oil Corporati	COM	565849106	373	12,770.84390 SH	SOLE	N/A	SOLE
Mattel			COM	577081102	353	12,743.59803 SH	SOLE	N/A	SOLE
Meadowbrook Insurance 	COM	58319P108	603	56,481.07658 SH	SOLE	N/A	SOLE
Mitcham Industries, In	COM	606501104	310	14,233.99666 SH	SOLE	N/A	SOLE
Nippon Telegraph & Tel	ORD	654624105	508	20,088.53965 SH	SOLE	N/A	SOLE
Sealed Air		COM	81211K100	269	15,649.52851 SH	SOLE	N/A	SOLE
SPDR Barclays Intl Tre	COM	78464A516	2390	40,626.00000 SH	SOLE	N/A	SOLE
Standard Motor Product	COM	853666105	218	10,886.81497 SH	SOLE	N/A	SOLE
Symantec		COM	871503108	341	21,844.29314 SH	SOLE	N/A	SOLE
TE Connectivity Ltd.	COM	H8912P106	372	12,078.89720 SH	SOLE	N/A	SOLE
Telecom Argentina SA	COM	879273209	428	23,991.11900 SH	SOLE	N/A	SOLE
Telecom Corporation of	ORD	879278208	796	99,745.60517 SH	SOLE	N/A	SOLE
UnitedHealth Group	COM	91324P102	970	19,156.84280 SH	SOLE	N/A	SOLE
USA Mobility		COM	90341G103	527	38,010.01460 SH	SOLE	N/A	SOLE
Vanguard Emerging Mark	COM	922042858	1498	39,213.85673 SH	SOLE	N/A	SOLE
Vanguard Intl Equity I	COM	922042775	6703	169,057.1164 SH	SOLE	N/A	SOLE
Vanguard Large Cap ETF	COM	922908637	3027	52,834.79326 SH	SOLE	N/A	SOLE
Vanguard Mega Cap 300 	COM	921910840	1723	45,163.45191 SH	SOLE	N/A	SOLE
Vanguard Mega Cap 300 	COM	921910816	2046	42,537.22384 SH	SOLE	N/A	SOLE
Vanguard Mid-Cap Growt	COM	922908538	2822	47,398.94624 SH	SOLE	N/A	SOLE
Vanguard Mid-Cap Value	COM	922908512	2577	49,891.28408 SH	SOLE	N/A	SOLE
Vanguard REIT Index ET	COM	922908553	1793	30,915.69983 SH	SOLE	N/A	SOLE
Vanguard Small Cap Gro	COM	922908595	5261	68,910.39416 SH	SOLE	N/A	SOLE
Vanguard Small Cap Val	COM	922908611	5675	90,565.60454 SH	SOLE	N/A	SOLE
Verizon Communications	COM	92343V104	427	10,660.11485 SH	SOLE	N/A	SOLE
Wal-Mart Stores		COM	931142103	991	16,585.46701 SH	SOLE	N/A	SOLE
World Acceptance	COM	981419104	955	12,995.26702 SH	SOLE	N/A	SOLE