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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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 INC MSCI GERMAN 464286806 374,427 15,134,486 SH   SOLE   15,134,486 0 0
ISHARES TR HDG MSCI GERMN 46434V704 379,523 16,726,459 SH   SOLE   16,726,459 0 0
ISHARES TR BARCLYS 1-3 YR 464287457 72,817 856,774 SH   SOLE   856,774 0 0
PIMCO ETF TR ENHAN SHRT MAT 72201R833 121,423 1,205,193 SH   SOLE   1,205,193 0 0
ISHARES TR EAFE MIN VOL 46429B689 47,861 767,128 SH   SOLE   767,128 0 0
SPDR SERIES TRUST BARC SHT TR CP 78464A474 766,540 25,115,999 SH   SOLE   25,115,999 0 0
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 1,103,921 13,473,950 SH   SOLE   13,473,950 0 0
ISHARES TR AAA A RATED CP 46429B291 294,208 5,763,136 SH   SOLE   5,763,136 0 0
ISHARES TR BARCLYS TIPS BD 464287176 279,518 2,525,233 SH   SOLE   2,525,233 0 0
ISHARES TR IBOXX INV CP ETF 464287242 454,736 3,917,100 SH   SOLE   3,917,100 0 0
ISHARES TR 20+ YR TR BD ETF 464287432 266,359 2,156,055 SH   SOLE   2,156,055 0 0
ISHARES US ETF TR COMMOD SEL STG 46431W853 225,617 7,006,736 SH   SOLE   7,006,736 0 0
VANGUARD INDEX FDS REIT ETF 922908553 272,525 3,607,691 SH   SOLE   3,607,691 0 0
VANGUARD INDEX FDS TOTAL STK MKT 922908769 548,960 5,560,779 SH   SOLE   5,560,779 0 0
ISHARES GOLD TRUST ISHARES 464285105 494,798 45,899,654 SH   SOLE   45,899,654 0 0
ISHARES MSCI JAPAN ETF 464286848 392,152 34,308,982 SH   SOLE   34,308,982 0 0
ISHARES MSCI HONG KG ETF 464286871 371,846 19,448,039 SH   SOLE   19,448,039 0 0
SPDR S&P 500 ETF TRUST TR Unit 78462F103 401,401 2,094,668 SH   SOLE   2,094,668 0 0
WISDOMTREE TR JAPAN HEDGE EQT 97717W851 377,821 7,764,526 SH   SOLE   7,764,526 0 0
VANGUARD SPECIALIZED PORTFOL DIV APP ETF 921908844 498,344 6,758,125 SH   SOLE   6,758,125 0 0
VANGUARD INTL EQUITY INDEX FUND GLB EX US ETF 922042676 591,753 11,609,830 SH   SOLE   11,609,830 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 1,210,209 11,892,782 SH   SOLE   11,892,782 0 0
ISHARES EM MKTS CURR ETF 464286517 75,869 1,911,544 SH   SOLE   1,911,544 0 0
EGA EMERGING GLOBAL SHS TR EGSHR BYND BRC 268461639 69,710 4,378,739 SH   SOLE   4,378,739 0 0
VANGUARD CHARLOTTE FDS INTL BD IDX ETF 92203J407 83,764 1,582,540 SH   SOLE   1,582,540 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 308,743 9,330,410 SH   SOLE   9,330,410 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 161,205 4,544,825 SH   SOLE   4,544,825 0 0
VANGUARD TAX-MANAGED INTL FD FTSE DEV MKT ETF 921943858 552,754 15,509,372 SH   SOLE   15,509,372 0 0
PIMCO ETF TR 0-5 HIGH YIELD 72201R783 133,714 1,413,168 SH   SOLE   1,413,168 0 0
POWERSHARES ETF TR II S&P 500 LOW VOL 73937B779 370,247 10,296,081 SH   SOLE   10,296,081 0 0
ISHARES RUSSELL 2000 464287655 207,583 1,900,944 SH   SOLE   1,900,944 0 0
ISHARES TR JPMORGAN USD 464288281 103,360 971,433 SH   SOLE   971,433 0 0
GLOBAL X FDS GLB E NXT EMRG 37950E218 83,956 4,674,624 SH   SOLE   4,674,624 0 0
VANGUARD WHITEHALL FDS EMERG MKT BD ETF 921946885 553 7,454 SH   SOLE   7,454 0 0
ISHARES MSCI SINGAP ETF 464286673 595 58,540 SH   SOLE   58,540 0 0
ISHARES TR Barclys 7-10yr 464287440 635,521 5,891,543 SH   SOLE   5,891,543 0 0
SPDR SERIES TRUST BRCLYS INTL ETF 78464A516 287 5,504 SH   SOLE   5,504 0 0
SPDR SERIES TRUST DB INT GVT ETF 78464A490 231 4,430 SH   SOLE   4,430 0 0
POWERSHARES ETF TRUST INTL DIV ACHV 73935X716 185 12,818 SH   SOLE   12,818 0 0
ISHARES TR INTL DEV RE ETF 464288489 449 16,035 SH   SOLE   16,035 0 0