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
AGG - iShares Barclays Aggregate Bond Fund COM 464287226 9,950 91,712 SH   SOLE   91,712 0 0
BAB - PowerShares Build America Bond Portf COM 73937B407 239 8,141 SH   SOLE   8,141 0 0
CIU - iShares Intermediate Credit ETF COM 464288638 254 2,332 SH   SOLE   2,332 0 0
CMF - iShares S&P California AMT-Free Bond COM 464288356 558 4,796 SH   SOLE   4,796 0 0
CRED - iShares Core US Credit Bond ETF COM 464288620 160 1,455 SH   SOLE   1,455 0 0
CSJ - iShares 1-3 Yr Credit Bond ETF COM 464288646 288 2,740 SH   SOLE   2,740 0 0
FLOT - iShares Floating Rate Bond ETF COM 46429B655 12,314 242,059 SH   SOLE   242,059 0 0
HYD - Vaneck Vectors High Yield Muni COM 92189F361 178 5,828 SH   SOLE   5,828 0 0
IEF - iShares Barclays 7-10 Year Treasury COM 464287440 229 2,171 SH   SOLE   2,171 0 0
IEI - iShares Barclays 3-7 Year Treasury B COM 464288661 74 605 SH   SOLE   605 0 0
ITM - Vaneck Vectors AMT Free Int Muni COM 92189F544 40,944 1,746,770 SH   SOLE   1,746,770 0 0
LQD - iShares iBoxx $ Investment Grade Cor COM 464287242 4 36 SH   SOLE   36 0 0
MUB - iShares S&P National AMT-Free Bond F COM 464288414 24,410 224,049 SH   SOLE   224,049 0 0
NUV- Nuveen Municipal Value Fund COM 670928100 12 1,234 SH   SOLE   1,234 0 0
NYF - iShares S&P New York AMT-Free Bond F COM 464288323 784 7,119 SH   SOLE   7,119 0 0
SHM - SPDR Nuveen Barclays ST Muni ETF COM 78468R739 34,409 710,348 SH   SOLE   710,348 0 0
SUB - iShares S&P Short Term National AMT- COM 464288158 235 2,223 SH   SOLE   2,223 0 0
TFI - SPDR Nuveen Barclays Capital Municip COM 78468R721 1,488 31,060 SH   SOLE   31,060 0 0