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
Estimated average burden
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
ISHARES GOLD TRUST ISHARES 464285105 4,696 381,500 SH   SOLE NONE 0 0 381,500
ISHARES TR TIPS BD ETF 464287176 13,253 116,680 SH   SOLE NONE 0 0 116,680
ISHARES TR MSCI EMG MKT ETF 464287234 10,550 235,440 SH   SOLE NONE 0 0 235,440
ISHARES TR IBOXX INV CP ETF 464287242 9,777 80,650 SH   SOLE NONE 0 0 80,650
ISHARES TR S&P 500 VAL ETF 464287408 688 6,380 SH   SOLE NONE 0 0 6,380
ISHARES TR RUS MID CAP ETF 464287499 887 4,497 SH   SOLE NONE 0 0 4,497
ISHARES TR CORE S&P MCP ETF 464287507 400 2,235 SH   SOLE NONE 0 0 2,235
ISHARES TR NASDAQ BIOTECH 464287556 9,507 28,500 SH   SOLE NONE 0 0 28,500
ISHARES TR RUS 1000 VAL ETF 464287598 12,632 106,590 SH   SOLE NONE 0 0 106,590
ISHARES TR RUS 2000 VAL ETF 464287630 943 7,600 SH   SOLE NONE 0 0 7,600
ISHARES TR RUSSELL 2000 ETF 464287655 37,378 252,250 SH   SOLE NONE 0 0 252,250
ISHARES TR U.S. REAL ES ETF 464287739 8,091 101,290 SH   SOLE NONE 0 0 101,290
ISHARES TR CORE S&P SCP ETF 464287804 4,630 62,378 SH   SOLE NONE 0 0 62,378
ISHARES TR SP SMCP600VL ETF 464287879 354 2,385 SH   SOLE NONE 0 0 2,385
ISHARES TR NATIONAL MUN ETF 464288414 11,908 107,406 SH   SOLE NONE 0 0 107,406
ISHARES TR INTL SEL DIV ETF 464288448 10,255 303,750 SH   SOLE NONE 0 0 303,750
ISHARES TR IBOXX HI YD ETF 464288513 7,274 81,950 SH   SOLE NONE 0 0 81,950
ISHARES TR MBS ETF 464288588 5,208 48,630 SH   SOLE NONE 0 0 48,630
ISHARES TR INTRMD CR BD ETF 464288638 1,587 14,410 SH   SOLE NONE 0 0 14,410
ISHARES TR US TREAS BD ETF 46429B267 4,780 189,400 SH   SOLE NONE 0 0 189,400
ISHARES TR MIN VOL EAFE ETF 46429B689 20,897 294,080 SH   SOLE NONE 0 0 294,080
ISHARES TR MIN VOL USA ETF 46429B697 12,638 251,050 SH   SOLE NONE 0 0 251,050
ISHARES TR USA MOMENTUM FCT 46432F396 14,348 149,960 SH   SOLE NONE 0 0 149,960
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 9,031 62,090 SH   SOLE NONE 0 0 62,090
POWERSHARES ETF TRUST FTSE US1500 SM 73935X567 10,388 82,870 SH   SOLE NONE 0 0 82,870
POWERSHARES ETF TRUST II SENIOR LN PORT 73936Q769 8,050 347,600 SH   SOLE NONE 0 0 347,600
POWERSHARES ETF TR II FDM HG YLD RAFI 73936T557 14,790 775,140 SH   SOLE NONE 0 0 775,140
POWERSHARES ETF TR II VAR RATE PFD POR 73937B597 6,889 264,450 SH   SOLE NONE 0 0 264,450
POWERSHARES ETF TR II S&P600 LOVL PT 73937B639 10,929 237,900 SH   SOLE NONE 0 0 237,900
PROSHARES TR INVT INT RT HG 74347B607 1,232 16,000 SH   SOLE NONE 0 0 16,000
PROSHARES TR S&P 500 DV ARIST 74348A467 14,094 237,080 SH   SOLE NONE 0 0 237,080
SPDR S&P 500 ETF TR TR UNIT 78462F103 44,179 175,850 SH   SOLE NONE 0 0 175,850
SPDR SERIES TRUST BLMBRG BRC CNVRT 78464A359 10,165 199,050 SH   SOLE NONE 0 0 199,050
SPDR SERIES TRUST S&P DIVID ETF 78464A763 324 3,550 SH   SOLE NONE 0 0 3,550
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 19,994 61,270 SH   SOLE NONE 0 0 61,270
SPDR SER TR NUVEEN BLMBRG SR 78468R739 1,050 21,610 SH   SOLE NONE 0 0 21,610
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 5,907 104,000 SH   SOLE NONE 0 0 104,000
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 3,573 39,660 SH   SOLE NONE 0 0 39,660
SELECT SECTOR SPDR TR ENERGY 81369Y506 6,095 89,000 SH   SOLE NONE 0 0 89,000
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 21,558 833,660 SH   SOLE NONE 0 0 833,660
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 9,514 134,000 SH   SOLE NONE 0 0 134,000
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 3,221 54,500 SH   SOLE NONE 0 0 54,500
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 5,272 99,380 SH   SOLE NONE 0 0 99,380
VANGUARD SPECIALIZED PORTFOL DIV APP ETF 921908844 654 6,900 SH   SOLE NONE 0 0 6,900
VANGUARD STAR FD VG TL INTL STK F 921909768 2,955 54,000 SH   SOLE NONE 0 0 54,000
VANGUARD BD INDEX FD INC SHORT TRM BOND 921937827 265 3,320 SH   SOLE NONE 0 0 3,320
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 17,772 409,410 SH   SOLE NONE 0 0 409,410
VANGUARD WHITEHALL FDS INC HIGH DIV YLD 921946406 292 3,600 SH   SOLE NONE 0 0 3,600
VANGUARD CHARLOTTE FDS INTL BD IDX ETF 92203J407 7,785 142,600 SH   SOLE NONE 0 0 142,600
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 26,795 614,980 SH   SOLE NONE 0 0 614,980
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 257 4,400 SH   SOLE NONE 0 0 4,400
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 11,721 146,280 SH   SOLE NONE 0 0 146,280
VANGUARD SCOTTSDALE FDS VNG RUS2000IDX 92206C664 1,451 12,200 SH   SOLE NONE 0 0 12,200
VANGUARD SCOTTSDALE FDS LG-TERM COR BD 92206C813 264 2,800 SH   SOLE NONE 0 0 2,800
VANGUARD INDEX FDS REIT ETF 922908553 16,075 193,465 SH   SOLE NONE 0 0 193,465
VANGUARD INDEX FDS MID CAP ETF 922908629 2,925 19,900 SH   SOLE NONE 0 0 19,900
VANGUARD INDEX FDS SMALL CP ETF 922908751 3,893 27,550 SH   SOLE NONE 0 0 27,550
VANGUARD INDEX FDS TOTAL STK MKT 922908769 238 1,835 SH   SOLE NONE 0 0 1,835