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
0-5 Year High Yield ETF - PIMC COM 72201r783 243 2,394 SH   SOLE   1,555 0 839
20 yr Treasury ETF - iShares COM 464287432 1,304 10,454 SH   SOLE   112 0 10,342
Barclays 1-3 Yr Credit Bond ET COM 464288646 253 2,400 SH   SOLE   2,000 0 400
Blackrock Core Bond Trust COM 09249E101 338 24,065 SH   SOLE   0 0 24,065
Blackrock Limited Duration CEF COM 09249w101 308 19,095 SH   SOLE   5,680 0 13,415
Blackrock Multi-Sector Income COM 09258A107 467 24,995 SH   SOLE   8,590 0 16,405
Blackstone/GSO Senior Loan ETF COM 78467V608 789 16,640 SH   SOLE   6,000 0 10,640
Eaton Vance Ltd Duration Incom COM 27828h105 196 14,000 SH   SOLE   0 0 14,000
High Yield 0-5yr Bond ETF - SP COM 78468R408 280 9,995 SH   SOLE   6,715 0 3,280
High Yield L/S ETF - First Tru COM 33738d408 836 17,050 SH   SOLE   17,050 0 0
Invesco Muni CEF COM 46131j103 556 43,510 SH   SOLE   3,475 0 40,035
Invesco Quality Muni Income COM 46133g107 454 35,465 SH   SOLE   0 0 35,465
MS EM Domestic Debt CEF COM 617477104 276 34,355 SH   SOLE   6,490 0 27,865
PIMCO Enhanced Short Maturity COM 72201R833 497 4,881 SH   SOLE   3,648 0 1,233
Senior Loan ETF - Powershares COM 73936q769 184 7,925 SH   SOLE   6,490 0 1,435
Sr Floating Rate CEF - FirstTr COM 33733u108 613 45,475 SH   SOLE   6,405 0 39,070
iBonds Dec18 Corp ETF -iShares COM 46434vaa8 299 11,870 SH   SOLE   8,965 0 2,905
AT&T Inc COM 00206R102 5 132 SH   SOLE   132 0 0
AbbVie Inc. COM 00287Y109 5 60 SH   SOLE   60 0 0
Activision Inc. COM 00507v109 6 86 SH   SOLE   86 0 0
Adobe Systems Inc COM 00724f101 5 36 SH   SOLE   36 0 0
Best Buy Inc COM 086516101 42 740 SH   SOLE   740 0 0
Boeing Co COM 097023105 5 21 SH   SOLE   21 0 0
Bristol-Myers Squibb Co. COM 110122108 5 85 SH   SOLE   85 0 0
Cisco Systems Inc COM 17275r102 5 156 SH   SOLE   156 0 0
Constellation Brands, Inc. COM 21036P108 5 26 SH   SOLE   26 0 0
Electronic Arts COM 285512109 6 47 SH   SOLE   47 0 0
Facebook Inc COM 30303m102 69 406 SH   SOLE   406 0 0
Ford Motor Co. COM 345370860 5 452 SH   SOLE   452 0 0
Gap Inc COM 364760108 5 181 SH   SOLE   181 0 0
General Motors Corp. COM 37045V100 5 131 SH   SOLE   131 0 0
Hovnanian Enterprises Inc. COM 442487203 35 18,180 SH   SOLE   0 0 18,180
Kohls Corp COM 500255104 5 116 SH   SOLE   116 0 0
Las Vegas Sands Corp COM 517834107 5 84 SH   SOLE   84 0 0
Live Nation Inc COM 538034109 5 122 SH   SOLE   122 0 0
Mastercard Inc COM 57636q104 5 38 SH   SOLE   38 0 0
McDonalds Corp COM 580135101 5 34 SH   SOLE   34 0 0
Metlife Inc COM 59156r108 5 104 SH   SOLE   104 0 0
Monster Beverage Corp COM 61174x109 5 97 SH   SOLE   97 0 0
Nasdaq Stock Market Inc COM 631103108 6 71 SH   SOLE   71 0 0
PVH Corp. COM 693656100 5 42 SH   SOLE   42 0 0
Paypal Holdings Inc COM 70450y103 5 83 SH   SOLE   83 0 0
Pfizer Inc COM 717081103 6 156 SH   SOLE   156 0 0
Qualcomm Inc COM 747525103 5 103 SH   SOLE   103 0 0
Quality S&P500 - SPDR ETF COM 78468R812 6,330 87,521 SH   SOLE   51,252 0 36,269
Royal Caribbean Cruises Ltd. COM V7780T103 5 45 SH   SOLE   45 0 0
Schwab Charles Corp COM 808513105 5 122 SH   SOLE   122 0 0
Scientific Beta US ETF - Globa COM 37954Y103 5,771 195,241 SH   SOLE   125,659 0 69,582
Square Inc - A COM 852234103 5 187 SH   SOLE   187 0 0
T-Mobile US Inc. COM 872590104 5 86 SH   SOLE   86 0 0
Target Corp COM 87612e106 5 93 SH   SOLE   93 0 0
Texas Instruments Inc COM 882508104 5 60 SH   SOLE   60 0 0
US Large Cap ETF - Goldman Sac COM 381430503 1,680 33,653 SH   SOLE   1,593 0 32,060
US S&P 500 Index ETF - SPDR COM 78462F103 14,700 58,511 SH   SOLE   31,438 0 27,073
US S&P500 ETF - iShares COM 464287200 2,773 10,965 SH   SOLE   796 0 10,169
Austria ETF - iShares COM 464286202 2,491 106,368 SH   SOLE   53,589 0 52,779
Chile ETF - iShares COM 464286640 371 7,625 SH   SOLE   3,185 0 4,440
China ETF - iShares COM 46429b671 9,253 146,660 SH   SOLE   59,214 0 87,446
Core Emerging Markets ETF - iS COM 46434G103 598 11,074 SH   SOLE   982 0 10,092
DJ Euro Stoxx 50 ETF - SPDR COM 78463x202 289 7,000 SH   SOLE   0 0 7,000
Denmark ETF - iShares COM 46429B523 1,256 18,488 SH   SOLE   8,088 0 10,400
EAFE Index ETF - iShares COM 464287465 4,066 59,379 SH   SOLE   891 0 58,488
Ferrari NV COM n3167y103 5 48 SH   SOLE   48 0 0
Finland ETF - iShares COM 46429B515 712 17,586 SH   SOLE   5,536 0 12,050
France ETF - iShares COM 464286707 7,261 234,989 SH   SOLE   85,367 0 149,622
Germany ETF - iShares COM 464286806 5,577 171,972 SH   SOLE   59,782 0 112,190
Hong Kong ETF - iShares COM 464286871 1,586 64,235 SH   SOLE   25,612 0 38,623
Italy ETF - iShares COM 46434G830 1,373 43,796 SH   SOLE   18,899 0 24,897
Japan ETF - iShares COM 46434g822 3,451 61,948 SH   SOLE   21,429 0 40,519
Japan Nikkei 400 ETF - Deutsch COM 233051663 3,343 122,891 SH   SOLE   40,286 0 82,605
Korea Hedged ETF - Deutsche Ba COM 233051812 4,255 141,410 SH   SOLE   44,236 0 97,174
MSCI Emerging Markets ETF - iS COM 464287234 3,402 75,911 SH   SOLE   1,380 0 74,531
Malaysia ETF - iShares COM 46434g814 548 16,931 SH   SOLE   7,176 0 9,755
Mexico ETF - iShares COM 464286822 998 18,280 SH   SOLE   7,886 0 10,394
Molson Coors Brewing Co Cl B COM 60871R209 5 66 SH   SOLE   66 0 0
Netherlands ETF - iShares COM 464286814 2,793 88,982 SH   SOLE   35,053 0 53,929
Poland ETF - iShares COM 46429B606 2,637 99,451 SH   SOLE   52,576 0 46,875
Spain ETF - iShares COM 464286764 1,728 51,209 SH   SOLE   16,393 0 34,816
Sweden ETF - iShares COM 464286756 3,188 88,845 SH   SOLE   42,946 0 45,899
Taiwan ETF - iShares COM 46434g772 3,493 96,762 SH   SOLE   46,781 0 49,981
Thailand ETF - iShares COM 464286624 297 3,441 SH   SOLE   2,224 0 1,217
Turkey ETF - iShares COM 464286715 2,561 61,250 SH   SOLE   33,044 0 28,206
United Kingdom ETF - iShares COM 46435g334 1,910 54,803 SH   SOLE   12,790 0 42,013
ACWI ex US ETF - iShares COM 464288240 2,861 59,166 SH   SOLE   5,873 0 53,293
US Dollar Bear ETF - Powershar COM 73936d206 1,013 45,431 SH   SOLE   683 0 44,748
Emerging Markets Internet & EC COM 301505889 338 9,300 SH   SOLE   0 0 9,300
Healthcare ETF - SPDR COM 81369Y209 208 2,549 SH   SOLE   0 0 2,549
Industrial Select Sector ETF - COM 81369Y704 190 2,681 SH   SOLE   0 0 2,681
KBW Bank ETF - Powershares COM 73937B746 1,916 37,416 SH   SOLE   595 0 36,821
Technology Select Sector ETF - COM 81369Y803 2,058 34,820 SH   SOLE   610 0 34,210