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
ALPS ETF TR ALERIAN MLP 00162Q866 12,237 698,487 SH   SOLE   698,487 0 0
ARENA PHARMACEUTICALS INC COM 040047102 57 16,500 SH   SOLE   16,500 0 0
BAIDU INC SPON ADR REP A 056752108 684 3,000 SH   SOLE   3,000 0 0
BARCLAYS BK PLC S&P 500 VEQTOR 06740C337 7,466 48,572 SH   SOLE   48,572 0 0
BARCLAYS BK PLC BARC ETN+SHILL 06742A669 1,594 20,497 SH   SOLE   20,497 0 0
DIREXION SHS ETF TR DLY S&P500 2XS 25459Y165 10,501 74,908 SH   SOLE   74,908 0 0
FIRST TR US IPO INDEX FD SHS 336920103 1,752 34,840 SH   SOLE   34,840 0 0
GLOBAL X FDS GLB X MLP ENRG I 37950E226 950 51,189 SH   SOLE   51,189 0 0
GOOGLE INC CL A 38259P508 265 500 SH   SOLE   500 0 0
HOSPITALITY PPTYS TR COM SH BEN INT 44106M102 14,387 464,088 SH   SOLE   464,088 0 0
ISHARES NAT AMT FREE BD 464288414 608 5,510 SH   SOLE   5,510 0 0
ISHARES TR 1-3 YR TR BD ETF 464287457 1,488 17,617 SH   SOLE   17,617 0 0
ISHARES 3-7 YR TR BD ETF 464288661 574 4,695 SH   SOLE   4,695 0 0
ISHARES TR 7-10 Y TR BD ETF 464287440 539,673 5,091,742 SH   SOLE   5,091,742 0 0
ISHARES TR CORE S&P MCP ETF 464287507 560,341 3,869,764 SH   SOLE   3,869,764 0 0
ISHARES TR CORE S&P500 ETF 464287200 557,611 2,695,462 SH   SOLE   2,695,462 0 0
ISHARES TR EUROPE ETF 464287861 264 6,215 SH   SOLE   6,215 0 0
ISHARES TR MSCI EAFE ETF 464287465 264 4,347 SH   SOLE   4,347 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 275 6,987 SH   SOLE   6,987 0 0
ISHARES MSCI FRANCE ETF 464286707 568 23,038 SH   SOLE   23,038 0 0
ISHARES MSCI JAPAN ETF 464286848 1,155 102,763 SH   SOLE   102,763 0 0
ISHARES MSCI SZ CAP ETF 464286749 572 18,051 SH   SOLE   18,051 0 0
ISHARES TR MSCI UTD KNGDM 46434V548 1,158 64,200 SH   SOLE   64,200 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 431,839 3,610,094 SH   SOLE   3,610,094 0 0
LAS VEGAS SANDS CORP COM 517834107 291 5,000 SH   SOLE   5,000 0 0
LEXINGTON REALTY TRUST COM 529043101 15,219 1,386,078 SH   SOLE   1,386,078 0 0
NORTHERN TR CORP COM 665859104 1,012 15,022 SH   SOLE   15,022 0 0
NORTHSTAR ASSET MGMT GROUP I COM 66705Y104 10,586 469,042 SH   SOLE   469,042 0 0
NORTHSTAR RLTY FIN CORP COM NEW 66704R704 7,640 434,592 SH   SOLE   434,592 0 0
PENGROWTH ENERGY CORP COM 70706P104 11,584 3,724,871 SH   SOLE   3,724,871 0 0
PENGROWTH ENERGY CORP COM 70706P104 2,073 6,909 SH Put SOLE   6,909 0 0
PENN WEST PETE LTD NEW COM 707887105 8,012 3,851,806 SH   SOLE   3,851,806 0 0
PENN WEST PETE LTD NEW COM 707887105 14,645 37,842 SH Put SOLE   37,842 0 0
PHILIP MORRIS INTL INC COM 718172109 977 12,000 SH   SOLE   12,000 0 0
PIMCO ETF TR TTL RTN ACTV ETF 72201R775 741 6,910 SH   SOLE   6,910 0 0
PLUM CREEK TIMBER CO INC COM 729251108 11,079 258,907 SH   SOLE   258,907 0 0
POWERSHARES ETF TR II S&P500 LOW VOL 73937B779 2,203 58,030 SH   SOLE   58,030 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 1,634 15,821 SH   SOLE   15,821 0 0
POWERSHARES ACTIVE MNG ETF T S&P500 DWNHDGE 73935B805 2,132 76,615 SH   SOLE   76,615 0 0
POWERSHARES ETF TR II PWRSH S&P500HI 73937B654 3,737 113,769 SH   SOLE   113,769 0 0
POWERSHARES ETF TR II S&P400 LOVL PT 73937B647 2,146 65,262 SH   SOLE   65,262 0 0
POWERSHARES ETF TR II S&P600 LOVL PT 73937B639 2,319 69,024 SH   SOLE   69,024 0 0
PROSHARES TR PSHS ULT S&P 500 74347R107 41,847 326,139 SH   SOLE   326,139 0 0
PROSHARES TR PSHS ULTRUSS2000 74347R842 51,591 570,504 SH   SOLE   570,504 0 0
PROSHARES TR ULTR 7-10 TREA 74347R180 45,901 827,191 SH   SOLE   827,191 0 0
PROSHARES TR PSHS ULT MCAP400 74347R404 52,015 706,715 SH   SOLE   706,715 0 0
RITE AID CORP COM 767754104 75 10,000 SH   SOLE   10,000 0 0
RYDEX ETF TRUST GUG S&P500 EQ WT 78355W106 2,016 25,179 SH   SOLE   25,179 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 13,339 252,924 SH   SOLE   252,924 0 0
STARWOOD HOTELS&RESORTS WRLD COM 85590A401 11,610 143,214 SH   SOLE   143,214 0 0
STARWOOD PPTY TR INC COM 85571B105 18,577 799,374 SH   SOLE   799,374 0 0
TORTOISE ENERGY INFRSTRCTR C COM 89147L100 1,024 23,395 SH   SOLE   23,395 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 2,084 24,203 SH   SOLE   24,203 0 0
VENTAS INC COM 92276F100 18,804 262,265 SH   SOLE   262,265 0 0
W P CAREY INC COM 92936U109 10,468 149,336 SH   SOLE   149,336 0 0
WILLIAMS COS INC DEL COM 969457100 16,720 372,049 SH   SOLE   372,049 0 0