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
ISHARES TR CHINA LG-CAP ETF 464287184 401,568 8,710,800 SH   SOLE   8,710,800 0 0
WISDOMTREE TR JAPAN HEDGE EQT 97717W851 429,774 7,513,530 SH   SOLE   7,513,530 0 0
POWERSHARES ETF TR II S&P 500 LOW VOL 73937B779 368,372 10,053,827 SH   SOLE   10,053,827 0 0
SPDR SERIES TRUST BARC SHT TR CP 78464A474 706,230 23,079,418 SH   SOLE   23,079,418 0 0
ISHARES US ETF TR COMMOD SEL STG 46431W853 259,630 6,577,918 SH   SOLE   6,577,918 0 0
ISHARES TR AAA A RATED CP 46429B291 275,155 5,446,454 SH   SOLE   5,446,454 0 0
ISHARES TR BARCLYS 1-3 YR 464287457 62,513 736,665 SH   SOLE   736,665 0 0
ISHARES MSCI SINGAP ETF 464286673 2,501 198,952 SH   SOLE   198,952 0 0
ISHARES TR Barclys 7-10yr 464287440 589,292 5,611,771 SH   SOLE   5,611,771 0 0
SPDR SERIES TRUST BRCLYS INTL ETF 78464A516 320 6,145 SH   SOLE   6,145 0 0
ISHARES GOLD TRUST ISHARES 464285105 498,289 43,940,840 SH   SOLE   43,940,840 0 0
ISHARES INTL DEV RE ETF 464288489 533 17,922 SH   SOLE   17,922 0 0
ISHARES TR JPMORGAN USD 464288281 104,825 953,649 SH   SOLE   953,649 0 0
ISHARES TR EAFE MIN VOL 46429B689 43,351 663,975 SH   SOLE   663,975 0 0
ISHARES TR IBOXX INV CP ETF 464287242 43,130 372,711 SH   SOLE   372,711 0 0
SPDR SERIES TRUST DB INT GVT ETF 78464A490 271 4,937 SH   SOLE   4,937 0 0
ISHARES INC MSCI GERMAN 464286806 405,555 14,546,451 SH   SOLE   14,546,451 0 0
SPDR S&P 500 ETF TRUST TR Unit 78462F103 415,991 2,020,846 SH   SOLE   2,020,846 0 0
ISHARES INC MSCI UTD KINGD 46434V548 399,184 21,873,117 SH   SOLE   21,873,117 0 0
ISHARES RUSSELL 2000 464287655 233,357 1,868,946 SH   SOLE   1,868,946 0 0
VANGUARD WHITEHALL FDS EMERG MKT BD ETF 921946885 2,345 30,483 SH   SOLE   30,483 0 0
ISHARES TR BARCLYS TIPS BD 464287176 269,502 2,400,693 SH   SOLE   2,400,693 0 0
ISHARES TR HDG MSCI GERMN 46434V704 420,436 16,114,836 SH   SOLE   16,114,836 0 0
PIMCO ETF TR 0-5 HIGH YIELD 72201R783 140,031 1,402,135 SH   SOLE   1,402,135 0 0
PIMCO ETF TR ENHAN SHRT MAT 72201R833 105,223 1,040,267 SH   SOLE   1,040,267 0 0
POWERSHARES ETF TRUST INTL DIV ACHV 73935X716 244 14,302 SH   SOLE   14,302 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 1,235,287 11,537,190 SH   SOLE   11,537,190 0 0
VANGUARD SPECIALIZED PORTFOL DIV APP ETF 921908844 511,863 6,513,907 SH   SOLE   6,513,907 0 0
VANGUARD TAX-MANAGED INTL FD FTSE DEV MKT ETF 921943858 598,354 15,090,890 SH   SOLE   15,090,890 0 0
ISHARES EM MKTS CURR ETF 464286517 80,135 1,833,745 SH   SOLE   1,833,745 0 0
ISHARES MSCI JAPAN ETF 464286848 423,527 33,062,224 SH   SOLE   33,062,224 0 0
ISHARES TR 20+ YR TR BD ETF 464287432 240,612 2,048,456 SH   SOLE   2,048,456 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 364,666 8,920,391 SH   SOLE   8,920,391 0 0
VANGUARD CHARLOTTE FDS INTL BD IDX ETF 92203J407 79,901 1,525,702 SH   SOLE   1,525,702 0 0
VANGUARD INTL EQUITY INDEX FUND GLB EX US ETF 922042676 620,719 11,192,195 SH   SOLE   11,192,195 0 0
VANGUARD INDEX FDS REIT ETF 922908553 259,356 3,472,435 SH   SOLE   3,472,435 0 0
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 1,023,163 12,591,231 SH   SOLE   12,591,231 0 0
VANGUARD INDEX FDS TOTAL STK MKT 922908769 567,898 5,306,468 SH   SOLE   5,306,468 0 0
GLOBAL X FDS GLB E NXT EMRG 37950E218 98,643 4,473,611 SH   SOLE   4,473,611 0 0
EGA EMERGING GLOBAL SHS TR EGSHR BYND BRC 268461639 79,596 4,169,536 SH   SOLE   4,169,536 0 0
ISHARES MSCI HONG KG ETF 464286871 421,947 18,703,335 SH   SOLE   18,703,335 0 0