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
AGCO CORP COM 001084102 224 4,963 SH   SOLE NONE 0 0 4,963
AMAG PHARMACEUTICALS INC COM 00163U106 365 8,561 SH   SOLE NONE 8,561 0 0
ACORDA THERAPEUTICS INC COM 00484M106 243 5,936 SH   SOLE NONE 5,784 0 152
AFFYMETRIX INC COM 00826T108 219 22,222 SH   SOLE NONE 0 0 22,222
ALTERA CORP COM 021441100 203 5,497 SH   SOLE NONE 5,497 0 0
ARBOR RLTY TR INC COM 038923108 69 10,134 SH   SOLE NONE 0 0 10,134
ARMOUR RESIDENTIAL REIT INC COM 042315101 74 20,074 SH   SOLE NONE 0 0 20,074
BANK AMER CORP COM 060505104 219 12,243 SH   SOLE NONE 11,678 0 565
BAXTER INTL INC COM 071813109 2,590 35,342 SH   SOLE NONE 0 0 35,342
BERKSHIRE HATHAWAY INC DEL CL COM 084670702 209 1,394 SH   SOLE NONE 1,394 0 0
BIOTELEMETRY INC COM 090672106 263 26,178 SH   SOLE NONE 26,178 0 0
BRADY CORP CL A COM 104674106 271 9,921 SH   SOLE NONE 0 0 9,921
BROOKS AUTOMATION INC COM 114340102 256 20,079 SH   SOLE NONE 0 0 20,079
CSX CORP COM 126408103 1,616 44,595 SH   SOLE NONE 0 0 44,595
CYS INVTS INC COM 12673A108 173 19,864 SH   SOLE NONE 0 0 19,864
CARNIVAL CORP PAIRED CTF COM 143658300 227 5,014 SH   SOLE NONE 5,014 0 0
CHESAPEAKE ENERGY CORP COM 165167107 272 13,901 SH   SOLE NONE 7,146 0 6,755
CLIFFS NATURAL RESOURCES INC. COM 18683K408 131 19,559 SH   SOLE NONE 0 0 19,559
PUTER SCIENCES CORP COM 205363104 202 3,204 SH   SOLE NONE 0 0 3,204
CONOCOPHILLIPS COM 20825C104 2,369 34,301 SH   SOLE NONE 0 0 34,301
CROCS INC COM 227046109 149 11,925 SH   SOLE NONE 11,925 0 0
CUMMINS INC COM 231021106 2,250 15,605 SH   SOLE NONE 0 0 15,605
CYNOSURE INC CL A COM 232577205 231 8,439 SH   SOLE NONE 8,439 0 0
DENBURY RES INC NEW COM 247916208 96 11,788 SH   SOLE NONE 0 0 11,788
E TRADE FINANCIAL CORP NEW COM 269246401 204 8,405 SH   SOLE NONE 8,405 0 0
EBIX INC NEW COM 278715206 212 12,482 SH   SOLE NONE 12,482 0 0
ETHAN ALLEN INTERIORS INC COM 297602104 232 7,501 SH   SOLE NONE 7,501 0 0
FORD MTR CO DEL PAR $0.01 COM 345370860 2,481 160,062 SH   SOLE NONE 0 0 160,062
HEALTH NET INC COM 42222G108 220 4,116 SH   SOLE NONE 4,116 0 0
INVESCO MORTGAGE CAPITAL INC COM 46131B100 159 10,281 SH   SOLE NONE 0 0 10,281
ISHARES TR CORE SP500 ETF COM 464287200 2,617 12,649 SH   SOLE NONE 0 0 12,649
ISHARES TR CORE US AGGBD ET COM 464287226 45,859 416,447 SH   SOLE NONE 20,138 0 396,309
ISHARES TR SP 500 GRWT ETF COM 464287309 128,159 1,148,376 SH   SOLE NONE 774,902 0 373,474
ISHARES TR SP 500 VAL ETF COM 464287408 336 3,580 SH   SOLE NONE 0 0 3,580
ISHARES TR 20+ YR TR BD ETF COM 464287432 9,308 73,921 SH   SOLE NONE 3,562 0 70,359
ISHARES TR 1-3 YR TR BD ETF COM 464287457 34,343 406,670 SH   SOLE NONE 17,844 0 388,826
ISHARES TR RUS MID-CAP ETF COM 464287499 1,859 11,131 SH   SOLE NONE 0 0 11,131
ISHARES TR CORE SP MCP ETF COM 464287507 1,210 8,358 SH   SOLE NONE 0 0 8,358
ISHARES TR RUSSELL 2000 ETF COM 464287655 393 3,287 SH   SOLE NONE 0 0 3,287
ISHARES MSCI ACWI US ETF COM 464288240 1,656 38,490 SH   SOLE NONE 0 0 38,490
ISHARES NAT AMT FREE BD COM 464288414 1,308 11,857 SH   SOLE NONE 0 0 11,857
ISHARES INTERM CR BD ETF COM 464288638 12,096 110,635 SH   SOLE NONE 4,058 0 106,577
ISHARES MSCI EURO FL ETF COM 464289180 18,817 854,519 SH   SOLE NONE 587,224 0 267,295
ITRON INC COM 465741106 300 7,095 SH   SOLE NONE 0 0 7,095
KULICKE SOFFA INDS INC COM 501242101 186 12,872 SH   SOLE NONE 12,872 0 0
LA Z BOY INC COM 505336107 218 8,117 SH   SOLE NONE 0 0 8,117
LILLY ELI CO COM 532457108 2,950 42,763 SH   SOLE NONE 0 0 42,763
MARKET VECTORS ETF TR HG YLD M COM 57060U878 10,342 335,245 SH   SOLE NONE 0 0 335,245
MICROSTRATEGY INC CL A NEW COM 594972408 330 2,031 SH   SOLE NONE 0 0 2,031
MORGAN STANLEY NEW COM 617446448 216 5,563 SH   SOLE NONE 5,563 0 0
NETAPP INC COM 64110D104 215 5,177 SH   SOLE NONE 0 0 5,177
NEW MTN FIN CORP COM 647551100 150 10,020 SH   SOLE NONE 0 0 10,020
NVIDIA CORP COM 67066G104 204 10,174 SH   SOLE NONE 0 0 10,174
OFFICE DEPOT INC COM 676220106 590 68,824 SH   SOLE NONE 37,520 0 31,304
OMEGA PROTEIN CORP COM 68210P107 134 12,631 SH   SOLE NONE 12,631 0 0
1 800 FLOWERS CL A COM 68243Q106 218 26,494 SH   SOLE NONE 0 0 26,494
ORACLE CORP COM 68389X105 206 4,591 SH   SOLE NONE 4,591 0 0
ORBITZ WORLDWIDE INC COM 68557K109 204 24,847 SH   SOLE NONE 0 0 24,847
PEPSICO INC COM 713448108 2,780 29,400 SH   SOLE NONE 0 0 29,400
POLY INC COM 73172K104 204 15,119 SH   SOLE NONE 0 0 15,119
POWERSHARES ETF TRUST DYNM LRG COM 73935X609 7,634 260,887 SH   SOLE NONE 0 0 260,887
POWERSHARES ETF TRUST DYNM LRG COM 73935X708 7,346 234,927 SH   SOLE NONE 0 0 234,927
POWERSHARES ETF TRUST II CEF I COM 73936Q843 3,869 163,951 SH   SOLE NONE 0 0 163,951
POWERSHARES GLOBAL ETF TRUST F COM 73936T557 3,069 163,233 SH   SOLE NONE 23,726 0 139,507
POWERSHARES GLOBAL ETF TRUST A COM 73936T565 5,799 394,469 SH   SOLE NONE 18,351 0 376,118
PROSHARES TR PSHS ULTSH 20YRS COM 74347B201 216 4,652 SH   SOLE NONE 0 0 4,652
SM ENERGY CO COM 78454L100 267 6,921 SH   SOLE NONE 2,214 0 4,707
SPDR SP 500 ETF TR TR UNIT COM 78462F103 151,735 738,227 SH   SOLE NONE 504,471 0 233,756
SPDR SERIES TRUST NUV HGHYLD M COM 78464A284 3,732 64,706 SH   SOLE NONE 9,276 0 55,430
SPDR SERIES TRUST BRC CNV SECS COM 78464A359 2,956 63,050 SH   SOLE NONE 8,977 0 54,073
SPDR SERIES TRUST SP BK ETF COM 78464A797 32,138 957,903 SH   SOLE NONE 646,964 0 310,939
SELECT SECTOR SPDR TR SBI HEAL COM 81369Y209 32,281 472,089 SH   SOLE NONE 317,418 0 154,671
SPECTRUM PHARMACEUTICALS INC COM 84763A108 161 23,257 SH   SOLE NONE 23,257 0 0
SYNGENTA AG SPONSORED ADR COM 87160A100 2,388 37,170 SH   SOLE NONE 0 0 37,170
TJX COS INC NEW COM 872540109 219 3,195 SH   SOLE NONE 3,195 0 0
TAIWAN SEMICONDUCTOR MFG LTD S COM 874039100 2,890 129,132 SH   SOLE NONE 0 0 129,132
3M CO COM 88579Y101 3,052 18,576 SH   SOLE NONE 0 0 18,576
TIVO INC COM 888706108 167 14,118 SH   SOLE NONE 0 0 14,118
TRACTOR SUPPLY CO COM 892356106 226 2,872 SH   SOLE NONE 2,872 0 0
UNISYS CORP NEW COM 909214306 218 7,408 SH   SOLE NONE 0 0 7,408
UNITED PARCEL SERVICE INC CL B COM 911312106 2,237 20,119 SH   SOLE NONE 0 0 20,119
V F CORP COM 918204108 222 2,967 SH   SOLE NONE 2,967 0 0
VAALCO ENERGY INC NEW COM 91851C201 94 20,717 SH   SOLE NONE 20,717 0 0
VANGUARD BD INDEX FD INC TOTAL COM 921937835 35,928 436,183 SH   SOLE NONE 15,049 0 421,134
VANGUARD TAX MANAGED INTL FD F COM 921943858 3,572 94,305 SH   SOLE NONE 0 0 94,305
VANGUARD CHARLOTTE FDS INTL BD COM 92203J407 9,816 184,824 SH   SOLE NONE 8,369 0 176,455
VANGUARD SCOTTSDALE FDS MORTG- COM 92206C771 9,595 180,999 SH   SOLE NONE 8,349 0 172,650
VANGUARD SCOTTSDALE FDS LG-TER COM 92206C813 9,619 104,084 SH   SOLE NONE 4,843 0 99,241
VANGUARD INDEX FDS VALUE ETF COM 922908744 207,861 2,460,183 SH   SOLE NONE 1,644,689 0 815,494
WEYERHAEUSER CO COM 962166104 200 5,562 SH   SOLE NONE 5,562 0 0
WISDOMTREE TR JAPN HEDGE EQT COM 97717W851 21,751 441,828 SH   SOLE NONE 304,772 0 137,056
WISDOMTREE TR EUROPE HEDGED EQ COM 97717X701 47,333 851,008 SH   SOLE NONE 582,423 0 268,585
YUM BRANDS INC COM 988498101 2,152 29,545 SH   SOLE NONE 0 0 29,545
BAY BANCORP INC COM 07203T106 98 22,217 SH   DFND 1 0 0 22,217
FIRST TR EXCHANGE TRADED FD NY COM 33733E203 594 5,826 SH   DFND 1 0 0 5,826
FIRST TR EXCHANGE TRADED FD DJ COM 33733E302 608 9,916 SH   DFND 1 0 0 9,916
FIRST TR EXCHANGE TRADED FD CO COM 33734X101 633 17,671 SH   DFND 1 0 0 17,671
FIRST TR EXCHANGE TRADED FD CO COM 33734X119 616 14,473 SH   DFND 1 0 0 14,473
FIRST TR EXCHANGE TRADED FD HL COM 33734X143 603 9,998 SH   DFND 1 0 0 9,998
ISHARES TR CORE US AGGBD ET COM 464287226 509 4,618 SH   DFND 1 0 0 4,618
ISHARES TR IBOXX INV CP ETF COM 464287242 474 3,972 SH   DFND 1 0 0 3,972
ISHARES TR 20+ YR TR BD ETF COM 464287432 281 2,228 SH   DFND 1 0 0 2,228
ISHARES TR MSCI EAFE ETF COM 464287465 6,616 108,743 SH   DFND 1 0 0 108,743
ISHARES TR RUS 1000 GRW ETF COM 464287614 5,615 58,723 SH   DFND 1 0 0 58,723
ISHARES CORE LT USDB ETF COM 464289479 285 4,479 SH   DFND 1 0 0 4,479
ISHARES 10+ YR CR BD ETF COM 464289511 284 4,620 SH   DFND 1 0 0 4,620
ISHARES TR BAA BA RTD ETF COM 46432F107 286 5,402 SH   DFND 1 0 0 5,402
POWERSHS DB MULTI SECT M PS DB COM 73936B408 271 10,900 SH   DFND 1 0 0 10,900
POWERSHS DB MULTI SECT M DB BA COM 73936B705 271 17,060 SH   DFND 1 0 0 17,060
SPDR SP 500 ETF TR TR UNIT COM 78462F103 8,371 40,729 SH   DFND 1 0 0 40,729
SPDR SERIES TRUST BARC SHT TR COM 78464A474 477 15,601 SH   DFND 1 0 0 15,601
VANGUARD BD INDEX FD INC SHORT COM 921937827 235 2,943 SH   DFND 1 0 0 2,943
VANGUARD BD INDEX FD INC TOTAL COM 921937835 490 5,953 SH   DFND 1 0 0 5,953
VANGUARD CHARLOTTE FDS INTL BD COM 92203J407 492 9,255 SH   DFND 1 0 0 9,255
VANGUARD INTL EQUITY INDEX F T COM 922042742 7,755 128,984 SH   DFND 1 0 0 128,984
VANGUARD INTL EQUITY INDEX F F COM 922042858 3,523 88,028 SH   DFND 1 0 0 88,028
VANGUARD INDEX FDS MID CAP ETF COM 922908629 2,326 18,826 SH   DFND 1 0 0 18,826
VANGUARD INDEX FDS VALUE ETF COM 922908744 7,062 83,584 SH   DFND 1 0 0 83,584
VANGUARD INDEX FDS SMALL CP ET COM 922908751 2,314 19,832 SH   DFND 1 0 0 19,832
SPDR S&P 500 ETF TR COM 78462F103 28,776 140,000 SH Put SOLE NONE 0 0 140,000
MARKET VECTORS ETF TR COM 57060U506 1,756 120,000 SH Put SOLE NONE 0 0 120,000