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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 S&P GLO INFRAS GLB INFRASTR ETF 464288372 5,628 144,162 SH   SOLE   133,836 0 10,326
ISHARES US PREFERRED STOCK ETF U.S. PFD STK ETF 464288687 213 5,734 SH   SOLE   0 0 5,734
POWERSHARES ACT MANG COMM FD D DB OPT YLD DIV 73937V106 37,175 2,151,314 SH   SOLE   1,535,970 0 615,344
POWERSHARES DB COMMODITY INDEX UNIT BEN INT 73935S105 466 29,395 SH   SOLE   0 0 29,395
SPDR INDEX SHS FDS DJ INTL RL DJ INTL RL ETF 78463X863 210 5,825 SH   SOLE   0 0 5,825
UBS AG JERSEY BRH ALERIAN INFR ALERIAN INFRST 902641646 15,386 541,578 SH   SOLE   381,438 0 160,140
VANGUARD FTSE EUROPE ETF FTSE EUROPE ETF 922042874 20,993 437,902 SH   SOLE   313,843 0 124,059
VANGUARD GLOBAL EX US REAL EST GLB EX US ETF 922042676 16,027 323,326 SH   SOLE   207,413 0 115,913
VANGUARD INDEX FDS TOTAL STK M STK MRK ETF 922908769 39,475 342,307 SH   SOLE   232,562 0 109,745
VANGUARD INTL EQTY INDEX FTSE ALLWRLD EX US 922042775 938 21,231 SH   SOLE   0 0 21,231
VANGUARD INTL EQUITY INDEX FD EMR MKT ETF 922042858 39,013 1,090,369 SH   SOLE   772,616 0 317,753
VANGUARD INTL EQUITY INDEX FD FTSE SMCAP ETF 922042718 18,415 195,839 SH   SOLE   138,840 0 56,999
Vanguard S&P 500 ETF S&P 500 ETF SHS 922908363 288 1,401 SH   SOLE   0 0 1,401
VANGUARD TAX MANAGED INTL FD F FTSE DEV MKT ETF 921943858 54,453 1,490,238 SH   SOLE   1,050,407 0 439,831
VANGUARD TOTAL WORLD STOCK ETF TT WRLD ST ETF 922042742 207 3,387 SH   SOLE   0 0 3,387
VANGUARD VALUE ETF VALUE ETF 922908744 38,660 415,651 SH   SOLE   290,954 0 124,697
VANGUARD WORLD FDS CONSUM DIS CONSUM DIS ETF 92204A108 385 2,990 SH   SOLE   0 0 2,990
VANGUARD WORLD FDS INF TECH ET INF TECH ETF 92204A702 295 2,424 SH   SOLE   0 0 2,424
ISHARES GL HGYL CP ETF INTL HIGH YIELD 464286210 324 7,077 SH   SOLE   0 0 7,077
ISHARES TR FLTG RATE BD ETF FLTG RATE BD ETF 46429B655 46,355 913,758 SH   SOLE   547,284 0 366,474
ISHARES TREASURY ETF INTERNATI INTL TREA BD ETF 464288117 270 3,006 SH   SOLE   0 0 3,006
POWERSHARES ETF TRUST II SENIO SENIOR LN PORT 73936Q769 24,716 1,058,043 SH   SOLE   642,589 0 415,454
POWERSHARES GLOBAL ETF TRUST S SOVEREIGN DEBT 73936T573 215 7,600 SH   SOLE   0 0 7,600
SPDR SER TR SHT TRM HGH YLD BLOOMBERG SRT TR 78468R408 273 9,871 SH   SOLE   0 0 9,871
SPDR SERIES TRUST BLOOMBERG IN BRCLYS INTL ETF 78464A516 34,736 1,337,022 SH   SOLE   831,845 0 505,177
SPDR SERIES TRUST NUVN BR SHT NUVN BR SHT MUNI 78468R739 273 5,702 SH   SOLE   0 0 5,702
VANECK VECTORS JP MORGAN EM LO JP MORGAN MKTS 92189F494 325 18,477 SH   SOLE   0 0 18,477
VANGUARD BD INDEX FD INC TOTAL TOTAL BND MRKT 921937835 235 2,911 SH   SOLE   0 0 2,911
VANGUARD MALVERN FDS STRM INFP STRM INFPROIDX 922020805 14,726 299,546 SH   SOLE   187,398 0 112,148
VANGUARD SCOTTSDALE FDS SHRT T SHRT TRM CORP BD 92206C409 29,960 377,470 SH   SOLE   232,432 0 145,038