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
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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 6,779 259,925 SH   SOLE   28,050 0 231,875
ISHARES TR CORE S&P500 ETF 464287200 1,320 6,850 SH   SOLE   2,139 0 4,711
ISHARES TR CORE US AGGBD ET 464287226 9,277 84,658 SH   SOLE   32,377 0 52,281
ISHARES TR 7-10 Y TR BD ETF 464287440 7,110 65,911 SH   SOLE   24,521 0 41,390
ISHARES TR CORE S&P MCP ETF 464287507 2,074 15,182 SH   SOLE   6,352 0 8,830
ISHARES TR NASDQ BIOTEC ETF 464287556 9,786 32,262 SH   SOLE   9,834 0 22,428
ISHARES TR COHEN&STEER REIT 464287564 2,115 22,834 SH   SOLE   9,593 0 13,241
ISHARES TR U.S. CNSM SV ETF 464287580 11,321 82,279 SH   SOLE   25,051 0 57,228
ISHARES TR S&P MC 400GR ETF 464287606 30,298 192,869 SH   SOLE   64,883 0 127,986
ISHARES TR U.S. TECH ETF 464287721 6,648 67,215 SH   SOLE   21,387 0 45,828
ISHARES TR US HLTHCARE ETF 464287762 10,578 75,603 SH   SOLE   23,120 0 52,483
ISHARES TR U.S. CNSM GD ETF 464287812 6,989 68,122 SH   SOLE   21,708 0 46,414
ISHARES TR EAFE SML CP ETF 464288273 14,212 297,508 SH   SOLE   94,218 0 203,290
ISHARES TR RESID RL EST CAP 464288562 2,013 33,952 SH   SOLE   14,298 0 19,654
ISHARES TR MBS ETF 464288588 9,220 84,113 SH   SOLE   32,188 0 51,925
ISHARES TR INTERM CR BD ETF 464288638 7,092 65,301 SH   SOLE   24,254 0 41,047
ISHARES TR SHRT TRS BD ETF 464288679 43,467 394,047 SH   SOLE   115,270 0 278,777
ISHARES TR U.S. PFD STK ETF 464288687 2,093 54,221 SH   SOLE   22,720 0 31,501
VANGUARD BD INDEX FD INC INTERMED TERM 921937819 3,936 46,396 SH   SOLE   3,583 0 42,813
VANGUARD BD INDEX FD INC SHORT TRM BOND 921937827 5,776 71,844 SH   SOLE   6,689 0 65,155
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 1,673 20,422 SH   SOLE   2,602 0 17,820
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 8,317 233,352 SH   SOLE   28,377 0 204,975
VANGUARD INTL EQUITY INDEX FTSE SMCAP ETF 922042718 5,405 59,593 SH   SOLE   6,007 0 53,586
VANGUARD INDEX FDS MCAP GR IDXVIP 922908538 1,704 17,518 SH   SOLE   2,257 0 15,261
VANGUARD INDEX FDS REIT ETF 922908553 3,257 43,114 SH   SOLE   5,520 0 37,594
VANGUARD INDEX FDS LARGE CAP ETF 922908637 1,812 20,584 SH   SOLE   2,964 0 17,620
VANGUARD INDEX FDS GROWTH ETF 922908736 23,777 237,086 SH   SOLE   25,380 0 211,706
CURRENCYSHS BRIT POUND STER BRIT POUND STE 23129S106 3,793 25,594 SH   SOLE   7,330 0 18,264
CURRENCYSHARES SWISS FRANC T SWISS FRANC SH 23129V109 2,093 21,070 SH   SOLE   8,847 0 12,223
ISHARES TR EAFE MIN VOL ETF 46429B689 10,212 163,675 SH   SOLE   58,539 0 105,136
ISHARES TR CUR HD EURZN ETF 46434V639 7,871 317,387 SH   SOLE   108,181 0 209,206
PIMCO ETF TR ENHAN SHRT MA AC 72201R833 27,755 275,487 SH   SOLE   48,476 0 227,011
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 2,045 20,097 SH   SOLE   8,426 0 11,671
POWERSHARES ETF TRUST DYN BIOT & GEN 73935X856 5,657 123,739 SH   SOLE   15,792 0 107,947
POWERSHS DB US DOLLAR INDEX DOLL INDX BULL 73936D107 4,306 171,561 SH   SOLE   48,893 0 122,668
POWERSHARES GLOBAL ETF TRUST AGG PFD PORT 73936T565 1,774 121,644 SH   SOLE   15,511 0 106,133
POWERSHARES ETF TR II S&P500 LOW VOL 73937B779 3,679 102,310 SH   SOLE   29,534 0 72,776
SPDR SERIES TRUST BARC SHT TR CP 78464A474 9,175 300,608 SH   SOLE   115,206 0 185,402
VANGUARD WORLD FDS CONSUM DIS ETF 92204A108 7,134 60,539 SH   SOLE   7,800 0 52,738
VANGUARD WORLD FDS CONSUM STP ETF 92204A207 4,591 37,861 SH   SOLE   4,288 0 33,572
VANGUARD WORLD FDS FINANCIALS ETF 92204A405 4,475 96,669 SH   SOLE   10,960 0 85,709
VANGUARD WORLD FDS HEALTH CAR ETF 92204A504 6,581 53,695 SH   SOLE   6,905 0 46,790
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 5,749 72,119 SH   SOLE   6,719 0 65,400
VANGUARD SCOTTSDALE FDS MORTG-BACK SEC 92206C771 5,750 107,758 SH   SOLE   10,012 0 97,746
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 3,845 45,002 SH   SOLE   3,463 0 41,539