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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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
POWERSHARES ACT MANG COMM FD D DB OPT YLD DIV 73937V106 32,175 1,844,873 SH   SOLE   1,238,935 0 605,938
POWERSHARES DB COMMODITY INDEX UNIT BEN INT 73935S105 437 29,086 SH   SOLE   0 0 29,086
SPDR INDEX SHS FDS DJ INTL RL DJ INTL RL ETF 78463X863 220 5,286 SH   SOLE   0 0 5,286
UBS AG JERSEY BRH ALERIAN INFR ALERIAN INFRST 902641646 18,600 655,144 SH   SOLE   490,109 0 165,035
VANGUARD FTSE EUROPE ETF FTSE EUROPE ETF 922042874 5,714 117,267 SH   SOLE   7,687 0 109,580
VANGUARD GLOBAL EX US REAL EST GLB EX US ETF 922042676 20,187 359,387 SH   SOLE   243,514 0 115,873
VANGUARD INDEX FDS TOTAL STK M STK MRK ETF 922908769 24,490 219,980 SH   SOLE   146,801 0 73,179
VANGUARD INTL EQTY INDEX FTSE ALLWRLD EX US 922042775 872 19,191 SH   SOLE   0 0 19,191
VANGUARD INTL EQUITY INDEX FD EMR MKT ETF 922042858 36,671 974,521 SH   SOLE   661,022 0 313,499
VANGUARD INTL EQUITY INDEX FD FTSE SMCAP ETF 922042718 26,546 266,724 SH   SOLE   206,265 0 60,459
Vanguard S&P 500 ETF S&P 500 ETF SHS 922908363 278 1,401 SH   SOLE   0 0 1,401
VANGUARD TAX MANAGED INTL FD F FTSE DEV MKT ETF 921943858 32,640 872,500 SH   SOLE   552,465 0 320,035
VANGUARD VALUE ETF VALUE ETF 922908744 31,211 358,743 SH   SOLE   235,823 0 122,920
VANGUARD WORLD FDS CONSUM STP CONSUM STP ETF 92204A207 271 1,977 SH   SOLE   0 0 1,977
VANGUARD WORLD FDS INF TECH ET INF TECH ETF 92204A702 246 2,044 SH   SOLE   0 0 2,044
ISHARES TR FLTG RATE BD ETF FLTG RATE BD ETF 46429B655 62,723 1,235,917 SH   SOLE   711,187 0 524,730
ISHARES TREASURY ETF INTERNATI INTL TREA BD ETF 464288117 248 2,465 SH   SOLE   0 0 2,465
POWERSHARES ETF TRUST II SENIO SENIOR LN PORT 73936Q769 39,959 1,721,626 SH   SOLE   1,257,887 0 463,739
SPDR SERIES TRUST BLOOMBERG IN BRCLYS INTL ETF 78464A516 51,176 1,774,474 SH   SOLE   1,234,667 0 539,807
SPDR SERIES TRUST NUVN BR SHT NUVN BR SHT MUNI 78468R739 281 5,747 SH   SOLE   0 0 5,747
VANECK VECTORS JP MORGAN EM LO JP MORGAN MKTS 92189F494 15,925 834,638 SH   SOLE   759,601 0 75,037
VANGUARD BD INDEX FD INC TOTAL TOTAL BND MRKT 921937835 245 2,911 SH   SOLE   0 0 2,911
VANGUARD MALVERN FDS STRM INFP STRM INFPROIDX 922020805 23,967 482,722 SH   SOLE   355,753 0 126,969
VANGUARD SCOTTSDALE FDS SHRT T SHRT TRM CORP BD 92206C409 26,437 328,210 SH   SOLE   187,886 0 140,324