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
EGA EMERGING GLOBAL SHS TR EGS EMKTCONS ETF 268461779 171,869 6,782,527 SH   SOLE   6,782,527 0 0
ISHARES MSCI SINGAP ETF 464286673 2,033 155,400 SH   SOLE   155,400 0 0
SPDR INDEX SHS FDS S&P CHINA ETF 78463X400 2,326 29,209 SH   SOLE   29,209 0 0
ISHARES S&P GSCI COMMODITY I UNIT BEN INT 46428R107 4,419 204,771 SH   SOLE   204,771 0 0
ISHARES TR AAA A RATED CP 46429B291 315,436 6,091,842 SH   SOLE   6,091,842 0 0
ISHARES TR BARCLYS 1-3 YR 464287457 69,587 824,000 SH   SOLE   824,000 0 0
ISHARES TR MSCI INDIA ETF 46429B598 282,857 944,292 SH   SOLE   944,292 0 0
ISHARES TR Barclys 7-10yr 464287440 673,640 6,355,690 SH   SOLE   6,355,690 0 0
ISHARES TR FLTG RATE NT 46429B655 92,522 1,830,676 SH   SOLE   1,830,676 0 0
ISHARES GOLD TRUST ISHARES 464285105 514,465 44,970,690 SH   SOLE   44,970,690 0 0
ISHARES INTL DEV RE ETF 464288489 4,322 143,876 SH   SOLE   143,876 0 0
ISHARES TR JPMORGAN USD 464288281 329 3,001 SH   SOLE   3,001 0 0
ISHARES TR EAFE MIN VOL 46429B689 47,024 762,138 SH   SOLE   762,138 0 0
ISHARES TR IBOXX INV CP ETF 464287242 207 1,730 SH   SOLE   1,730 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 501 12,748 SH   SOLE   12,748 0 0
ISHARES CORE TOTUSBD ETF 464287226 449 4,077 SH   SOLE   4,077 0 0
ISHARES INC MSCI GERMAN 464286806 454,514 16,582,044 SH   SOLE   16,582,044 0 0
WISDOMTREE TR EM LCL DEBT FD 97717X867 2,431 58,434 SH   SOLE   58,434 0 0
ISHARES INC MSCI UTD KINGD 46434V548 2,783 154,360 SH   SOLE   154,360 0 0
ISHARES RUSSELL 2000 464287655 485,366 4,057,563 SH   SOLE   4,057,563 0 0
VANGUARD WHITEHALL FDS EMERG MKT BD ETF 921946885 2,172 28,447 SH   SOLE   28,447 0 0
ISHARES TR BARCLYS TIPS BD 464287176 300,377 2,681,701 SH   SOLE   2,681,701 0 0
PIMCO ETF TR 0-5 HIGH YIELD 72201R783 303,371 3,008,733 SH   SOLE   3,008,733 0 0
PIMCO ETF TR ENHAN SHRT MAT 72201R833 116,728 1,155,035 SH   SOLE   1,155,035 0 0
POWERSHARES DB CMDTY IDX TRA UNIT BEN INT 73935S105 611,928 33,166,856 SH   SOLE   33,166,856 0 0
POWERSHARES ETF TRUST INTL DIV ACHV 73935X716 482 27,524 SH   SOLE   27,524 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 1,469,623 14,233,636 SH   SOLE   14,233,636 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 824 11,417 SH   SOLE   11,417 0 0
VANGUARD BD INDEX FD INC INTERMED TERM 921937819 420 4,960 SH   SOLE   4,960 0 0
SPDR SER TR SHT TRM HGH YLD 78468R408 466 16,130 SH   SOLE   16,130 0 0
ISHARES 1-3 YR CR BD ETF 464288646 784 7,450 SH   SOLE   7,450 0 0
VANGUARD BD INDEX FD INC SHORT TRM BOND 921937827 370 4,632 SH   SOLE   4,632 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 499 20,164 SH   SOLE   20,164 0 0
ISHARES TR NASDQ BIOTEC ETF 464287556 225 742 SH   SOLE   742 0 0
WISDOMTREE TR JAPAN HEDGE EQT 97717W851 439 8,918 SH   SOLE   8,918 0 0
ISHARES INC CORE MSCI EMKT 46434G103 260 5,532 SH   SOLE   5,532 0 0
ISHARES EMU ETF 464286608 453 12,470 SH   SOLE   12,470 0 0
ISHARES MBS ETF 464288588 490 4,486 SH   SOLE   4,486 0 0
POWERSHARES ETF TR II S&P 500 LOW VOL 73937B779 443,366 11,679,834 SH   SOLE   11,679,834 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 908 13,283 SH   SOLE   13,283 0 0
VANGUARD WORLD FDS ENERGY ETF 92204A306 758 6,787 SH   SOLE   6,787 0 0
VANGUARD WORLD FDS MATERIALS ETF 92204A801 203 1,892 SH   SOLE   1,892 0 0
VANGUARD WORLD FDS INF TECH ETF 92204A702 1,262 12,082 SH   SOLE   12,082 0 0
VANGUARD WORLD FDS CONSUM STP ETF 92204A207 542 4,327 SH   SOLE   4,327 0 0
SPDR SERIES TRUST BRCLYS INTL ETF 78464A516 615 11,117 SH   SOLE   11,117 0 0
SPDR SERIES TRUST BARC SHT TR CP 78464A474 788,268 25,777,228 SH   SOLE   25,777,228 0 0
SPDR SERIES TRUST DB INT GVT ETF 78464A490 532 9,350 SH   SOLE   9,350 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 17,551 154,524 SH   SOLE   154,524 0 0
SPDR S&P 500 ETF TRUST TR Unit 78462F103 989,371 4,813,520 SH   SOLE   4,813,520 0 0
VANGUARD WORLD FDS INDUSTRIAL ETF 92204A603 1,223 11,446 SH   SOLE   11,446 0 0
VANGUARD SPECIALIZED PORTFOL DIV APP ETF 921908844 1,106,614 13,634,974 SH   SOLE   13,634,974 0 0
VANGUARD TAX-MANAGED INTL FD FTSE DEV MKT ETF 921943858 528,243 13,945,178 SH   SOLE   13,945,178 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 216,716 5,415,189 SH   SOLE   5,415,189 0 0
VANGUARD CHARLOTTE FDS INTL BD IDX ETF 92203J407 92,512 1,741,896 SH   SOLE   1,741,896 0 0
VANGUARD INTL EQUITY INDEX FUND GLB EX US ETF 922042676 671,760 12,551,577 SH   SOLE   12,551,577 0 0
VANGUARD INDEX FDS REIT ETF 922908553 811,935 10,023,888 SH   SOLE   10,023,888 0 0
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 1,134,382 13,771,783 SH   SOLE   13,771,783 0 0
VANGUARD INDEX FDS TOTAL STK MKT 922908769 670,164 6,322,302 SH   SOLE   6,322,302 0 0
WISDOMTREE TR ASIA LC DBT FD 97717X842 199,188 4,244,357 SH   SOLE   4,244,357 0 0
POWERSHS DB MULTI SECT COMM DB GOLD FUND 73936B606 2,820 72,039 SH   SOLE   72,039 0 0
WISDOMTREE TR INDIA ERNGS FD 97717W422 186,172 8,443,172 SH   SOLE   8,443,172 0 0
GLOBAL X FDS GLB E NXT EMRG 37950E218 103,571 4,435,606 SH   SOLE   4,435,606 0 0
EGA EMERGING GLOBAL SHS TR EGSHR BYND BRC 268461639 82,902 4,193,336 SH   SOLE   4,193,336 0 0
ISHARES MSCI HONG KG ETF 464286871 437,202 21,285,377 SH   SOLE   21,285,377 0 0