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
ALTRIA GROUP INC COM 02209S103 260 6,203 SH   SOLE   5,215 0 988
AMBEV SA SPONSORED ADR 02319V103 315 44,711 SH   SOLE   39,423 0 5,288
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 320 2,786 SH   SOLE   2,420 0 366
BRITISH AMERN TOB PLC SPONSORED ADR 110448107 260 2,186 SH   SOLE   1,828 0 358
COUPONS COM INC COM 22265J102 9,472 360,000 SH   SOLE   360,000 0 0
DIAGEO P L C SPON ADR NEW 25243Q205 320 2,516 SH   SOLE   2,219 0 297
EGA EMERGING GLOBAL SHS TR EGS EMKTCONS ETF 268461779 2,578 92,953 SH   SOLE   81,357 0 11,596
ISHARES CORE S&P MCP ETF 464287507 1,984 13,864 SH   SOLE   12,140 0 1,724
ISHARES CORE S&P SCP ETF 464287804 924 8,239 SH   SOLE   7,225 0 1,014
ISHARES EMU ETF 464286608 1,003 23,696 SH   SOLE   20,812 0 2,884
ISHARES IBOXX INV CP ETF 464287242 4,018 33,687 SH   SOLE   19,642 0 14,045
ISHARES MSCI CDA ETF 464286509 3,705 115,039 SH   SOLE   100,626 0 14,413
ISHARES MSCI EAFE ETF 464287465 29,583 432,685 SH   SOLE   379,485 0 53,200
ISHARES MSCI EMG MKT ETF 464287234 7,652 177,004 SH   SOLE   154,870 0 22,134
ISHARES MSCI SZ CAP ETF 464286749 292 8,509 SH   SOLE   7,484 0 1,025
ISHARES MSCI UK ETF 464286699 1,409 67,484 SH   SOLE   59,205 0 8,279
ISHARES MBS ETF 464288588 295 2,724 SH   SOLE   0 0 2,724
JPMORGAN CHASE & CO ALERIAN ML ETN 46625H365 1,339 25,557 SH   SOLE   22,216 0 3,341
KAYNE ANDERSON MLP INVT CO COM 486606106 1,316 33,402 SH   SOLE   29,426 0 3,976
MARIN SOFTWARE INC COM 56804T106 1,397 118,664 SH   SOLE   118,664 0 0
MOLSON COORS BREWING CO CL B 60871R209 330 4,444 SH   SOLE   3,755 0 689
PHILIP MORRIS INTL INC COM 718172109 244 2,897 SH   SOLE   2,467 0 430
PLUM CREEK TIMBER CO INC COM 729251108 857 18,998 SH   SOLE   16,799 0 2,199
RAYONIER INC COM 754907103 643 18,082 SH   SOLE   15,767 0 2,315
REYNOLDS AMERICAN INC COM 761713106 262 4,343 SH   SOLE   3,595 0 748
RYDEX ETF TRUST GUG S&P500 EQ WT 78355W106 6,416 83,641 SH   SOLE   73,267 0 10,374
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 218 4,401 SH   SOLE   3,857 0 544
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 1,440 21,570 SH   SOLE   18,929 0 2,641
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 1,424 31,924 SH   SOLE   28,045 0 3,879
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 1,612 26,496 SH   SOLE   23,209 0 3,287
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 1,708 17,067 SH   SOLE   14,906 0 2,161
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 2,186 96,141 SH   SOLE   84,339 0 11,802
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 1,321 24,442 SH   SOLE   21,434 0 3,008
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 3,593 93,682 SH   SOLE   81,983 0 11,699
SPDR S&P 500 ETF TR TR UNIT 78462F103 1,541 7,874 SH   SOLE   6,902 0 972
TEEKAY CORPORATION COM Y8564W103 15,562 250,000 SH   SOLE   250,000 0 0
TREMOR VIDEO INC COM 89484Q100 2,703 572,667 SH   SOLE   572,667 0 0
WEYERHAEUSER CO COM 962166104 906 27,373 SH   SOLE   24,117 0 3,256