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 166,370 6,294,741 SH   SOLE   6,294,741 0 0
WISDOMTREE TR JAPAN HEDGE EQT 97717W851 450,936 8,180,986 SH   SOLE   8,180,986 0 0
POWERSHARES ETF TR II S&P 500 LOW VOL 73937B779 398,210 10,498,540 SH   SOLE   10,498,540 0 0
SPDR SERIES TRUST BARC SHT TR CP 78464A474 745,085 24,230,400 SH   SOLE   24,230,400 0 0
ISHARES US ETF TR COMMOD SEL STG 46431W853 263,188 6,878,923 SH   SOLE   6,878,923 0 0
ISHARES TR AAA A RATED CP 46429B291 296,743 5,645,255 SH   SOLE   5,645,255 0 0
ISHARES TR BARCLYS 1-3 YR 464287457 65,890 776,268 SH   SOLE   776,268 0 0
ISHARES TR MSCI INDIA ETF 46429B598 276,912 8,657,547 SH   SOLE   8,657,547 0 0
ISHARES TR Barclys 7-10yr 464287440 638,323 5,889,136 SH   SOLE   5,889,136 0 0
SPDR SERIES TRUST BRCLYS INTL ETF 78464A516 435 8,188 SH   SOLE   8,188 0 0
ISHARES GOLD TRUST ISHARES 464285105 510,498 44,584,966 SH   SOLE   44,584,966 0 0
ISHARES INTL DEV RE ETF 464288489 727 23,415 SH   SOLE   23,415 0 0
ISHARES TR JPMORGAN USD 464288281 111,946 998,445 SH   SOLE   998,445 0 0
ISHARES TR EAFE MIN VOL 46429B689 46,803 710,317 SH   SOLE   710,317 0 0
ISHARES TR IBOXX INV CP ETF 464287242 45,057 370,203 SH   SOLE   370,203 0 0
SPDR SERIES TRUST DB INT GVT ETF 78464A490 358 6,567 SH   SOLE   6,567 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 15,674 137,904 SH   SOLE   137,904 0 0
ISHARES INC MSCI GERMAN 464286806 455,049 15,249,640 SH   SOLE   15,249,640 0 0
SPDR S&P 500 ETF TRUST TR Unit 78462F103 436,601 2,115,009 SH   SOLE   2,115,009 0 0
ISHARES INC MSCI UTD KINGD 46434V548 2,434 135,153 SH   SOLE   135,153 0 0
ISHARES RUSSELL 2000 464287655 241,198 1,939,359 SH   SOLE   1,939,359 0 0
VANGUARD WHITEHALL FDS EMERG MKT BD ETF 921946885 2,360 30,355 SH   SOLE   30,355 0 0
ISHARES TR BARCLYS TIPS BD 464287176 285,190 2,510,696 SH   SOLE   2,510,696 0 0
ISHARES TR HDG MSCI GERMN 46434V704 485,192 17,000,420 SH   SOLE   17,000,420 0 0
PIMCO ETF TR 0-5 HIGH YIELD 72201R783 148,430 1,462,224 SH   SOLE   1,462,224 0 0
PIMCO ETF TR ENHAN SHRT MAT 72201R833 110,943 1,096,827 SH   SOLE   1,096,827 0 0
POWERSHARES DB CMDTY IDX TRA UNIT BEN INT 73935S105 2,825 165,512 SH   SOLE   165,512 0 0
POWERSHARES ETF TRUST INTL DIV ACHV 73935X716 332 19,028 SH   SOLE   19,028 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 1,316,925 12,470,878 SH   SOLE   12,470,878 0 0
VANGUARD SPECIALIZED PORTFOL DIV APP ETF 921908844 547,326 6,801,618 SH   SOLE   6,801,618 0 0
VANGUARD TAX-MANAGED INTL FD FTSE DEV MKT ETF 921943858 637,726 16,011,208 SH   SOLE   16,011,208 0 0
ISHARES EM MKTS CURR ETF 464286517 84,280 1,915,029 SH   SOLE   1,915,029 0 0
ISHARES MSCI JAPAN ETF 464286848 466,953 37,266,796 SH   SOLE   37,266,796 0 0
ISHARES TR 20+ YR TR BD ETF 464287432 278,441 2,130,543 SH   SOLE   2,130,543 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 205,085 5,017,975 SH   SOLE   5,017,975 0 0
VANGUARD CHARLOTTE FDS INTL BD IDX ETF 92203J407 86,099 1,591,773 SH   SOLE   1,591,773 0 0
VANGUARD INTL EQUITY INDEX FUND GLB EX US ETF 922042676 658,696 11,705,984 SH   SOLE   11,705,984 0 0
VANGUARD INDEX FDS REIT ETF 922908553 716,173 8,494,516 SH   SOLE   8,494,516 0 0
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 1,098,822 13,180,070 SH   SOLE   13,180,070 0 0
VANGUARD INDEX FDS TOTAL STK MKT 922908769 607,675 5,665,966 SH   SOLE   5,665,966 0 0
WISDOMTREE TR INDIA ERNGS FD 97717W422 172,020 7,544,746 SH   SOLE   7,544,746 0 0
GLOBAL X FDS GLB E NXT EMRG 37950E218 94,512 4,219,281 SH   SOLE   4,219,281 0 0
EGA EMERGING GLOBAL SHS TR EGSHR BYND BRC 268461639 84,765 4,257,423 SH   SOLE   4,257,423 0 0
ISHARES MSCI HONG KG ETF 464286871 433,974 19,789,077 SH   SOLE   19,789,077 0 0