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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
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 1,221,373 27,601,648 SH   SOLE   27,601,648 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 956,659 20,363,122 SH   SOLE   20,363,122 0 0
VANGUARD INDEX FDS TOTAL STK MKT 922908769 502,671 3,703,738 SH   SOLE   3,703,738 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 443,149 5,223,349 SH   SOLE   5,223,349 0 0
ISHARES TR TIPS BD ETF 464287176 488,399 4,320,200 SH   SOLE   4,320,200 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 201,771 1,260,044 SH   SOLE   1,260,044 0 0
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 331,812 4,151,279 SH   SOLE   4,151,279 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 287,046 1,090,807 SH   SOLE   1,090,807 0 0
ISHARES TR IBOXX INV CP ETF 464287242 152,705 1,300,838 SH   SOLE   1,300,838 0 0
PIMCO ETF TR ENHAN SHRT MA AC 72201R833 67,353 663,254 SH   SOLE   663,254 0 0
POWERSHARES ETF TR II S&P500 LOW VOL 73937B779 225,885 4,809,125 SH   SOLE   4,809,125 0 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 207,841 3,574,230 SH   SOLE   3,574,230 0 0
ISHARES INC MSCI JPN ETF NEW 46434G822 201,862 3,326,672 SH   SOLE   3,326,672 0 0
ISHARES TR CUR HED MSCI GER 46434V704 190,299 6,945,219 SH   SOLE   6,945,219 0 0
ISHARES TR JPMORGAN USD EMG 464288281 141,415 1,253,455 SH   SOLE   1,253,455 0 0
VANGUARD GROUP DIV APP ETF 921908844 186,282 1,843,468 SH   SOLE   1,843,468 0 0
ISHARES GOLD TRUST ISHARES 464285105 181,805 14,281,627 SH   SOLE   14,281,627 0 0
ISHARES TR MIN VOL EAFE ETF 46429B689 159,472 2,164,095 SH   SOLE   2,164,095 0 0
ISHARES U S ETF TR COMMOD SEL STG 46431W853 149,341 4,044,981 SH   SOLE   4,044,981 0 0
ISHARES TR 20 YR TR BD ETF 464287432 150,446 1,234,179 SH   SOLE   1,234,179 0 0
ISHARES TR BARCLAYS 7 10YR 464287440 127,454 1,235,143 SH   SOLE   1,235,143 0 0
ISHARES TR IBOXX HI YD ETF 464288513 120,918 1,411,930 SH   SOLE   1,411,930 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 108,583 715,160 SH   SOLE   715,160 0 0
POWERSHARES ETF TR II VAR RATE PFD POR 73937B597 211,626 8,407,855 SH   SOLE   8,407,855 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 40,245 1,459,736 SH   SOLE   1,459,736 0 0
ISHARES TR CORE 1 5 YR USD 46432F859 438,178 8,878,987 SH   SOLE   8,878,987 0 0
ISHARES TR CORE US AGGBD ET 464287226 208,289 1,942,087 SH   SOLE   1,942,087 0 0
VANGUARD WORLD FDS CONSUM DIS ETF 92204A108 88,839 560,073 SH   SOLE   560,073 0 0