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
DBX ETF TR XTRAK MSCI EAFE 233051200 10,410 363,733 SH   SOLE   44,529 0 319,204
ISHARES EAFE SML CP ETF 464288273 15,655 306,841 SH   SOLE   98,414 0 208,427
ISHARES INTL DEV RE ETF 464288489 1,942 65,314 SH   SOLE   30,217 0 35,097
ISHARES MBS ETF 464288588 9,820 90,403 SH   SOLE   37,052 0 53,351
ISHARES U.S. PFD STK ETF 464288687 2,299 58,681 SH   SOLE   27,109 0 31,572
ISHARES TR CORE S&P500 ETF 464287200 4,520 21,829 SH   SOLE   10,926 0 10,903
ISHARES TR CORE US AGGBD ET 464287226 2,318 21,307 SH   SOLE   9,851 0 11,456
ISHARES TR 7-10 Y TR BD ETF 464287440 9,735 92,703 SH   SOLE   38,030 0 54,673
ISHARES TR CORE S&P MCP ETF 464287507 2,487 16,580 SH   SOLE   7,615 0 8,965
ISHARES TR NASDQ BIOTEC ETF 464287556 12,393 33,589 SH   SOLE   10,566 0 23,023
ISHARES TR U.S. CNSM SV ETF 464287580 12,286 85,845 SH   SOLE   27,150 0 58,695
ISHARES TR S&P MC 400GR ETF 464287606 57,924 341,736 SH   SOLE   110,305 0 231,431
ISHARES TR U.S. TECH ETF 464287721 11,524 110,097 SH   SOLE   34,607 0 75,490
ISHARES TR US HLTHCARE ETF 464287762 12,495 78,721 SH   SOLE   24,875 0 53,846
ISHARES TR U.S. CNSM GD ETF 464287812 11,826 112,745 SH   SOLE   35,473 0 77,272
ISHARES TR CUR HD EURZN ETF 46434V639 14,759 533,012 SH   SOLE   171,268 0 361,744
ISHARES TR HDG MSCI EAFE 46434V803 2,270 83,134 SH   SOLE   38,288 0 44,846
PIMCO ETF TR 0-5 HIGH YIELD 72201R783 15,589 156,090 SH   SOLE   45,474 0 110,616
PIMCO ETF TR ENHAN SHRT MA AC 72201R833 5,787 57,212 SH   SOLE   14,906 0 42,306
POWERSHARES DB US DOLLAR INDEX DOLL INDX BULL 73936D107 4,576 182,832 SH   SOLE   56,824 0 126,008
POWERSHARES ETF TRUST DYN BIOT & GEN 73935X856 7,017 120,253 SH   SOLE   15,361 0 104,892
POWERSHARES GLOBAL ETF TRUST AGG PFD PORT 73936T565 1,824 125,563 SH   SOLE   15,498 0 110,065
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 2,339 21,850 SH   SOLE   10,073 0 11,777
PROSHARES TR PSHS SH MSCI EMR 74347R396 2,363 93,188 SH   SOLE   42,982 0 50,206
VANGUARD BD INDEX FD INC INTERMED TERM 921937819 13,175 157,093 SH   SOLE   41,151 0 115,942
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 1,711 21,060 SH   SOLE   2,600 0 18,460
VANGUARD CHARLOTTE FDS INTL BD IDX ETF 92203J407 11,324 216,237 SH   SOLE   61,717 0 154,520
VANGUARD INDEX FDS MCAP GR IDXVIP 922908538 39,774 373,221 SH   SOLE   45,795 0 327,426
VANGUARD INDEX FDS REIT ETF 922908553 4,148 55,541 SH   SOLE   17,306 0 38,235
VANGUARD INDEX FDS LARGE CAP ETF 922908637 3,641 38,404 SH   SOLE   4,946 0 33,458
VANGUARD INDEX FDS GROWTH ETF 922908736 2,007 18,751 SH   SOLE   2,321 0 16,430
VANGUARD INTL EQUITY INDEX F GLB EX US ETF 922042676 1,813 32,698 SH   SOLE   4,039 0 28,659
VANGUARD INTL EQUITY INDEX F FTSE PACIFIC ETF 922042866 9,437 154,635 SH   SOLE   18,584 0 136,051
VANGUARD SCOTTSDALE FDS MORTG-BACK SEC 92206C771 5,826 110,271 SH   SOLE   10,186 0 100,085
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 3,897 45,690 SH   SOLE   3,564 0 42,126
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 9,307 234,717 SH   SOLE   28,735 0 205,982
VANGUARD WORLD FDS CONSUM DIS ETF 92204A108 7,439 59,885 SH   SOLE   7,609 0 52,276
VANGUARD WORLD FDS CONSUM STP ETF 92204A207 6,892 55,188 SH   SOLE   6,939 0 48,249
VANGUARD WORLD FDS HEALTH CAR ETF 92204A504 7,431 53,092 SH   SOLE   6,739 0 46,353
VANGUARD WORLD FDS INF TECH ETF 92204A702 6,849 64,475 SH   SOLE   8,148 0 56,327
WISDOMTREE TR CHINESE YUAN FD 97717W182 4,200 163,099 SH   SOLE   51,035 0 112,064
WISDOMTREE TR JAPN HEDGE EQT 97717W851 14,933 261,068 SH   SOLE   83,787 0 177,281