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
DBX ETF TR XTRACK MSCI EURP 233051853 1,611 56,697 SH   SOLE   0 0 56,697
ISHARES INC MSCI BRIC INDX 464286657 2,440 54,842 SH   SOLE   0 0 54,842
ISHARES INC MLT FCTR EMG MKT 46434G889 5,337 107,870 SH   SOLE   0 0 107,870
ISHARES TR INTL SEL DIV ETF 464288448 2,357 69,740 SH   SOLE   0 0 69,740
ISHARES TR US HLTHCR PR ETF 464288828 1,172 7,475 SH   SOLE   0 0 7,475
ISHARES TR EDGE MSCI USA VL 46432F388 2,355 28,167 SH   SOLE   0 0 28,167
ISHARES TR USA MOMENTUM FCT 46432F396 2,374 23,018 SH   SOLE   0 0 23,018
ISHARES TR CORE MSCI EAFE 46432F842 2,911 44,043 SH   SOLE   0 0 44,043
ISHARES TR MLTFCTR INTL SML 46434V266 3,560 109,699 SH   SOLE   0 0 109,699
ISHARES TR INTL MOMENTUM FT 46434V449 2,381 78,043 SH   SOLE   0 0 78,043
ISHARES TR INTL VALUE FACTR 46435G409 2,332 88,218 SH   SOLE   0 0 88,218
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 729 12,037 SH   SOLE   0 0 12,037
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 956 11,568 SH   SOLE   0 0 11,568
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 747 13,138 SH   SOLE   0 0 13,138
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 315 11,271 SH   SOLE   0 0 11,271
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 740 9,778 SH   SOLE   0 0 9,778
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 2,157 33,724 SH   SOLE   0 0 33,724
VANGUARD INDEX FDS REIT ETF 922908553 617 7,432 SH   SOLE   0 0 7,432
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 7,694 167,595 SH   SOLE   0 0 167,595
VANGUARD WORLD FDS CONSUM DIS ETF 92204A108 790 5,068 SH   SOLE   0 0 5,068
VANGUARD WORLD FDS FINANCIALS ETF 92204A405 2,075 29,631 SH   SOLE   0 0 29,631
VANGUARD WORLD FDS UTILITIES ETF 92204A876 2,119 18,171 SH   SOLE   0 0 18,171
VANGUARD WORLD FDS TELCOMM ETF 92204A884 730 8,011 SH   SOLE   0 0 8,011