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
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 907,276 22,220,825 SH   SOLE   22,220,825 0 0
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 900,381 21,790,448 SH   SOLE   21,790,448 0 0
VANGUARD INDEX FDS TOTAL STK MKT 922908769 692,733 5,566,359 SH   SOLE   5,566,359 0 0
ISHARES TR JP MOR EM MK ETF 464288281 576,223 5,038,678 SH   SOLE   5,038,678 0 0
ISHARES TR TIPS BD ETF 464287176 558,851 4,926,835 SH   SOLE   4,926,835 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 474,507 3,447,451 SH   SOLE   3,447,451 0 0
ISHARES TR HDG MSCI GERMN 46434V704 395,391 14,126,149 SH   SOLE   14,126,149 0 0
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 319,565 3,905,231 SH   SOLE   3,905,231 0 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 311,244 5,644,609 SH   SOLE   5,644,609 0 0
PIMCO ETF TR ENHAN SHRT MA AC 72201R833 274,486 2,698,450 SH   SOLE   2,698,450 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 261,553 1,081,693 SH   SOLE   1,081,693 0 0
ISHARES TR IBOXX INV CP ETF 464287242 250,630 2,079,748 SH   SOLE   2,079,748 0 0
ISHARES GOLD TRUST ISHARES 464285105 248,001 20,770,578 SH   SOLE   20,770,578 0 0
ISHARES TR 7-10YR TR BD ETF 464287440 228,834 2,146,458 SH   SOLE   2,146,458 0 0
POWERSHARES ETF TR II S&P500 LOW VOL 73937B779 227,947 5,096,071 SH   SOLE   5,096,071 0 0
VANGUARD SPECIALIZED PORTFOL DIV APP ETF 921908844 182,456 1,968,878 SH   SOLE   1,968,878 0 0
ISHARES TR IBOXX HI YD ETF 464288513 161,685 1,829,226 SH   SOLE   1,829,226 0 0
ISHARES TR MIN VOL EAFE ETF 46429B689 156,797 2,264,540 SH   SOLE   2,264,540 0 0
ISHARES TR 20 YR TR BD ETF 464287432 148,843 1,189,601 SH   SOLE   1,189,601 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 144,826 1,654,587 SH   SOLE   1,654,587 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 108,396 769,204 SH   SOLE   769,204 0 0
POWERSHARES ETF TR II VAR RATE PFD POR 73937B597 104,484 3,994,029 SH   SOLE   3,994,029 0 0
ISHARES U S ETF TR COMMOD SEL STG 46431W853 99,776 3,061,544 SH   SOLE   3,061,544 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 39,504 1,601,296 SH   SOLE   1,601,296 0 0
PIMCO ETF TR 0-5 HIGH YIELD 72201R783 29,319 289,255 SH   SOLE   289,255 0 0