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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
ISHARES TR CHINA LG-CAP ETF 464287184 145,342 4,118,503 SH   SOLE   4,118,503 0 0
WISDOMTREE TR JAPAN HEDGE EQT 97717W851 352,322 7,035,182 SH   SOLE   7,035,182 0 0
POWERSHARES ETF TR II S&P 500 LOW VOL 73937B779 356,493 9,242,763 SH   SOLE   9,242,763 0 0
SPDR SERIES TRUST BARC SHT TR CP 78464A474 1,003,341 33,004,647 SH   SOLE   33,004,647 0 0
ISHARES US ETF TR COMMOD SEL STG 46431W853 183,643 6,457,200 SH   SOLE   6,457,200 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 321,309 3,821,009 SH   SOLE   3,821,009 0 0
ISHARES INC CORE MSCI EMKT 46434G103 2,848 72,304 SH   SOLE   72,304 0 0
ISHARES S&P GSCI COMMODITY I UNIT BEN INT 46428R107 1,233 86,664 SH   SOLE   86,664 0 0
ISHARES TR BARCLYS 7-10YR 464287440 881,115 8,344,680 SH   SOLE   8,344,680 0 0
SPDR SERIES TRUST BRCLYS INTL ETF 78464A516 460 8,901 SH   SOLE   8,901 0 0
ISHARES GOLD TRUST ISHARES 464285105 423,960 41,442,834 SH   SOLE   41,442,834 0 0
ISHARES INTL DEV RE ETF 464288489 3,274 117,423 SH   SOLE   117,423 0 0
ISHARES TR JPMORGAN USD 464288281 93,430 883,251 SH   SOLE   883,251 0 0
ISHARES TR EAFE MIN VOL 46429B689 45,525 701,789 SH   SOLE   701,789 0 0
ISHARES TR IBOXX INV CP ETF 464287242 492,097 4,316,263 SH   SOLE   4,316,263 0 0
SPDR INDEX SHS FDS S&P CHINA ETF 78463X400 1,035 14,077 SH   SOLE   14,077 0 0
SPDR SER TR SHT TRM HGH YLD 78468R408 737 28,705 SH   SOLE   28,705 0 0
ISHARES INC MSCI GERMAN 464286806 139,824 5,338,823 SH   SOLE   5,338,823 0 0
SPDR S&P 500 ETF TRUST TR UNIT 78462F103 385,421 1,890,521 SH   SOLE   1,890,521 0 0
PIMCO ETF TR ENHAN SHRT MA AC 72201R833 110,960 1,102,869 SH   SOLE   1,102,869 0 0
ISHARES RUSSELL 2000 464287655 193,618 1,719,211 SH   SOLE   1,719,211 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 2,676 26,370 SH   SOLE   26,370 0 0
ISHARES TR BARCLYS TIPS BD 464287176 252,198 2,299,402 SH   SOLE   2,299,402 0 0
ISHARES TR HDG MSCI GERMN 46434V704 225,900 9,269,582 SH   SOLE   9,269,582 0 0
PIMCO ETF TR 0-5 HIGH YIELD 72201R783 117,016 1,277,189 SH   SOLE   1,277,189 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 1,180,353 10,552,052 SH   SOLE   10,552,052 0 0
VANGUARD SPECIALIZED PORTFOL DIV APP ETF 921908844 475,459 6,114,441 SH   SOLE   6,114,441 0 0
VANGUARD TAX-MANAGED INTL FD FTSE DEV MKT ETF 921943858 515,892 14,049,340 SH   SOLE   14,049,340 0 0
ISHARES EM MKTS CURR ETF 464286517 69,445 1,722,555 SH   SOLE   1,722,555 0 0
ISHARES MSCI JAPAN ETF 464286848 376,094 31,030,866 SH   SOLE   31,030,866 0 0
ISHARES TR 20+ YR TR BD ETF 464287432 236,352 1,960,123 SH   SOLE   1,960,123 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 278,418 8,511,722 SH   SOLE   8,511,722 0 0
VANGUARD CHARLOTTE FDS INTL BD IDX ETF 92203J407 75,119 1,420,549 SH   SOLE   1,420,549 0 0
VANGUARD INTL EQUITY INDEX FUND GLB EX US ETF 922042676 494,753 9,682,050 SH   SOLE   9,682,050 0 0
VANGUARD INDEX FDS REIT ETF 922908553 259,409 3,253,599 SH   SOLE   3,253,599 0 0
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 961,413 11,904,574 SH   SOLE   11,904,574 0 0
VANGUARD INDEX FDS TOTAL STK MKT 922908769 524,528 5,029,036 SH   SOLE   5,029,036 0 0
GLOBAL X FDS GLB E NXT EMRG 37950E218 73,712 4,275,638 SH   SOLE   4,275,638 0 0
EGA EMERGING GLOBAL SHS TR EGSHR BYND BRC 268461639 57,547 3,968,773 SH   SOLE   3,968,773 0 0
ISHARES MSCI HONG KG ETF 464286871 204,662 10,326,018 SH   SOLE   10,326,018 0 0