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
POWERSHARES EXCHANGE TRADED FD TR DYNAMIC PHARMACEUTICALS PORTFOLIO ETF 73935X799 19,227 251,662 SH   SOLE   251,662 0 0
ISHARES NASDAQ BIOTECHNOLOGY ETF ETF 464287556 12,883 37,512 SH   SOLE   37,512 0 0
ISHARES RESIDENTIAL REAL ESTATE CAPPED ETF ETF 464288562 22,841 367,507 SH   SOLE   367,507 0 0
ISHARES CHINA LARGE CAP ETF ETF 464287184 3,830 86,255 SH   SOLE   86,255 0 0
ISHARES U S HEALTHCARE PROVIDERS ETF ETF 464288828 6,519 48,993 SH   SOLE   48,993 0 0
MARKET VECTORS ETF PHARMACEUTICAL ETF ETF 57060U217 862 12,275 SH   SOLE   12,275 0 0
SPDR SER TR S&P SEMICONDUCTOR ETF ETF 78464A862 5,725 65,296 SH   SOLE   65,296 0 0
DEUTSCHE X-TRACKERS MSCI GERMANY HEDGED EQUITY ETF ETF 233051408 3,108 108,284 SH   SOLE   108,284 0 0
ISHARES TR MSCI INDIA SM CP ISIN #US46429B6149 SEDOL #B76QRD2 ETF 46429B614 2,927 81,547 SH   SOLE   81,547 0 0
GUGGENHEIM S&P 500 EQUAL WEIGHT HEALTHCARE ETF ETF 78355W841 18,504 119,211 SH   SOLE   119,211 0 0
FIRST TR EXCHANGE TRADED FD NY ARCA BIOTECHNOLOGY INDEX FD ETF 33733E203 6,832 57,788 SH   SOLE   57,788 0 0
WISDOMTREE TRUST JAPAN SMALLCAP ISIN #US97717W5215 SEDOL #BBT3Q97 ETF 97717W521 3,724 109,621 SH   SOLE   109,621 0 0
SPDR SER TR S&P BIOTECH ETF ETF 78464A870 3,385 15,009 SH   SOLE   15,009 0 0
ISHARES 20+ YEAR TREASURY BOND ETF ETF 464287432 7,417 56,754 SH   SOLE   56,754 0 0
ISHARES U.S. MEDICAL DEVICES ETF ETF 464288810 3,644 30,291 SH   SOLE   30,291 0 0
SPDR SER TR S&P PHARMACEUTICALS ETF ETF 78464A722 11,247 91,054 SH   SOLE   91,054 0 0
EGA EMERGING GLOBAL SHARES TRUST EG SHS INDIA CONSUMER ETF ETF 268461761 4,422 123,962 SH   SOLE   123,962 0 0
ISHARES GLOBAL HEALTHCARE ETF ETF 464287325 824 7,643 SH   SOLE   7,643 0 0
MARKET VECTORS ETF TRUST SEMICONDUCTOR ETF ETF 57060U233 849 15,360 SH   SOLE   15,360 0 0
MARKET VECTORS ETF TRUST RETAIL ETF ETF 57060U225 872 11,260 SH   SOLE   11,260 0 0
ISHARES GLOBAL TECH ETF ETF 464287291 7,566 78,116 SH   SOLE   78,116 0 0
MARKET VECTORS ETF TRUST BIOTECH ETF ETF 57060U183 864 6,666 SH   SOLE   6,666 0 0