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

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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 MSCI AUST ETF 464286103 26,454 1,170,000 SH   SOLE   1,170,000 0 0
ISHARES TR 3-7 YR TR BD ETF 464288661 24,733 201,000 SH   SOLE   201,000 0 0
ISHARES TR 7-10 YR TR BD ETF 464287440 44,981 426,000 SH   SOLE   426,000 0 0
ISHARES TR CORE HIGH DV ETF 46429B663 5,115 61,000 SH   SOLE   61,000 0 0
ISHARES TR SELECT DIVID ETF 464287168 3,097 34,000 SH   SOLE   34,000 0 0
VANGUARD WHITEHALL FDS INC HIGH DIV YLD 921946406 4,115 53,000 SH   SOLE   53,000 0 0
VANGUARD INDEX FDS REIT ETF 922908553 17,509 212,000 SH   SOLE   212,000 0 0
ISHARES TR COHEN&STEER REIT 464287564 15,960 160,000 SH   SOLE   160,000 0 0
SPDR SERIES TRUST DJ REIT ETF 78464A607 923 10,000 SH   SOLE   10,000 0 0
ISHARES TR U.S. REAL ES ETF 464287739 18,053 230,000 SH   SOLE   230,000 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 2,873 56,000 SH   SOLE   56,000 0 0