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 212 4,449 SH   SOLE NONE 0 0 4,449
ALTERA CORP COM 021441100 236 5,497 SH   SOLE NONE 5,497 0 0
ARBOR RLTY TR INC COM 038923108 75 10,677 SH   SOLE NONE 0 0 10,677
ARMOUR RESIDENTIAL REIT INC COM 042315101 73 22,988 SH   SOLE NONE 0 0 22,988
BANK AMER CORP COM 060505104 191 12,443 SH   SOLE NONE 11,678 0 765
BERKSHIRE HATHAWAY INC DEL CL COM 084670702 201 1,394 SH   SOLE NONE 1,394 0 0
BIOTELEMETRY INC COM 090672106 232 26,178 SH   SOLE NONE 26,178 0 0
BROOKS AUTOMATION INC COM 114340102 183 15,744 SH   SOLE NONE 0 0 15,744
CYS INVTS INC COM 12673A108 183 20,583 SH   SOLE NONE 0 0 20,583
CARNIVAL CORP PAIRED CTF COM 143658300 240 5,014 SH   SOLE NONE 5,014 0 0
CHESAPEAKE ENERGY CORP COM 165167107 201 14,191 SH   SOLE NONE 7,146 0 7,045
CLIFFS NATURAL RESOURCES INC. COM 18683K408 137 25,897 SH   SOLE NONE 0 0 25,897
CONOCOPHILLIPS COM 20825C104 2,859 45,927 SH   SOLE NONE 0 0 45,927
CROCS INC COM 227046109 141 11,925 SH   SOLE NONE 11,925 0 0
CUMMINS INC COM 231021106 2,632 18,982 SH   SOLE NONE 0 0 18,982
CYNOSURE INC CL A COM 232577205 259 8,439 SH   SOLE NONE 8,439 0 0
E TRADE FINANCIAL CORP NEW COM 269246401 240 8,405 SH   SOLE NONE 8,405 0 0
FIFTH THIRD BANCORP COM 316773100 3,166 167,933 SH   SOLE NONE 0 0 167,933
FIRST TR EXCHANGE TRADED FD HL COM 33734X143 35,651 531,942 SH   SOLE NONE 356,114 0 175,828
FIRST TR LRG CP VL ALPHADEX S COM 33735J101 3,991 91,220 SH   SOLE NONE 0 0 91,220
FIRST TR LRG CP GRWTH ALPHAD COM 33735K108 4,030 82,778 SH   SOLE NONE 0 0 82,778
FIRST TR EXCHANGE TRADED FD SE COM 33738D309 1,990 40,415 SH   SOLE NONE 6,235 0 34,180
FIRST TR EXCHANGE-TRADED FD PF COM 33739E108 738 38,462 SH   SOLE NONE 0 0 38,462
FIRST TR EXCHANGE TRADED FD FI COM 33739Q408 14,098 234,852 SH   SOLE NONE 11,920 0 222,932
FORD MTR CO DEL PAR $0.01 COM 345370860 3,270 202,595 SH   SOLE NONE 0 0 202,595
HEALTH NET INC COM 42222G108 249 4,116 SH   SOLE NONE 4,116 0 0
HORMEL FOODS CORP COM 440452100 215 3,781 SH   SOLE NONE 3,781 0 0
INFINITY PHARMACEUTICALS INC COM 45665G303 171 12,262 SH   SOLE NONE 0 0 12,262
INTEL CORP COM 458140100 1,519 48,568 SH   SOLE NONE 0 0 48,568
INVESCO MORTGAGE CAPITAL INC COM 46131B100 168 10,828 SH   SOLE NONE 0 0 10,828
ISHARES EMU ETF COM 464286608 24,362 631,479 SH   SOLE NONE 327,166 0 304,313
ISHARES MSCI JAPAN ETF COM 464286848 35,068 2,798,686 SH   SOLE NONE 1,871,657 0 927,029
ISHARES TR CORE SP500 ETF COM 464287200 2,731 13,140 SH   SOLE NONE 0 0 13,140
ISHARES TR CORE US AGGBD ET COM 464287226 40,686 365,123 SH   SOLE NONE 17,444 0 347,679
ISHARES TR SP 500 GRWT ETF COM 464287309 68,465 600,836 SH   SOLE NONE 415,051 0 185,785
ISHARES TR SP 500 VAL ETF COM 464287408 331 3,580 SH   SOLE NONE 0 0 3,580
ISHARES TR 1-3 YR TR BD ETF COM 464287457 1,610 18,966 SH   SOLE NONE 0 0 18,966
ISHARES TR RUS MID-CAP ETF COM 464287499 2,160 12,478 SH   SOLE NONE 0 0 12,478
ISHARES TR CORE SP MCP ETF COM 464287507 1,325 8,718 SH   SOLE NONE 0 0 8,718
ISHARES TR RUS 1000 GRW ETF COM 464287614 70,281 710,482 SH   SOLE NONE 475,678 0 234,804
ISHARES TR RUSSELL 2000 ETF COM 464287655 428 3,443 SH   SOLE NONE 0 0 3,443
ISHARES MSCI ACWI US ETF COM 464288240 37,085 829,649 SH   SOLE NONE 525,274 0 304,375
ISHARES NAT AMT FREE BD COM 464288414 1,482 13,397 SH   SOLE NONE 0 0 13,397
ISHARES IBOXX HI YD ETF COM 464288513 12,853 141,848 SH   SOLE NONE 5,635 0 136,213
ISHARES TR MSCI INDIA ETF COM 46429B598 35,111 1,097,551 SH   SOLE NONE 747,165 0 350,386
ITRON INC COM 465741106 213 5,824 SH   SOLE NONE 0 0 5,824
KULICKE SOFFA INDS INC COM 501242101 201 12,872 SH   SOLE NONE 12,872 0 0
MBIA INC COM 55262C100 201 21,581 SH   SOLE NONE 0 0 21,581
MARKET VECTORS ETF TR HG YLD M COM 57060U878 6,818 217,542 SH   SOLE NONE 0 0 217,542
MASIMO CORP COM 574795100 216 6,547 SH   SOLE NONE 0 0 6,547
MICROSTRATEGY INC CL A NEW COM 594972408 264 1,561 SH   SOLE NONE 0 0 1,561
NEW MTN FIN CORP COM 647551100 153 10,451 SH   SOLE NONE 0 0 10,451
OMEGA PROTEIN CORP COM 68210P107 173 12,631 SH   SOLE NONE 12,631 0 0
PNC FINL SVCS GROUP INC COM 693475105 3,218 34,513 SH   SOLE NONE 0 0 34,513
PIMCO ETF TR TTL RTN ACTV ETF COM 72201R775 50,638 459,799 SH   SOLE NONE 20,444 0 439,355
POLY INC COM 73172K104 176 13,154 SH   SOLE NONE 0 0 13,154
POWERSHARES ETF TRUST DYNM LRG COM 73935X609 6,809 222,294 SH   SOLE NONE 0 0 222,294
POWERSHARES ETF TRUST DYNM LRG COM 73935X708 6,557 212,816 SH   SOLE NONE 0 0 212,816
POWERSHARES ETF TRUST II SENIO COM 73936Q769 20,350 844,737 SH   SOLE NONE 33,976 0 810,761
POWERSHARES ETF TRUST II CEF I COM 73936Q843 5,457 228,823 SH   SOLE NONE 0 0 228,823
POWERSHARES GLOBAL ETF TRUST F COM 73936T557 7,358 387,855 SH   SOLE NONE 26,948 0 360,907
POWERSHARES GLOBAL ETF TRUST A COM 73936T565 7,347 492,760 SH   SOLE NONE 27,457 0 465,303
PROSHARES TR PSHS ULTSH 20YRS COM 74347B201 220 5,244 SH   SOLE NONE 0 0 5,244
QUALITY SYS INC COM 747582104 187 11,675 SH   SOLE NONE 0 0 11,675
ROPER INDS INC NEW COM 776696106 217 1,260 SH   SOLE NONE 1,260 0 0
SPDR SP 500 ETF TR TR UNIT COM 78462F103 123,176 596,694 SH   SOLE NONE 400,603 0 196,091
SPDR SERIES TRUST NUV HGHYLD M COM 78464A284 4,446 77,235 SH   SOLE NONE 12,418 0 64,817
SPDR SERIES TRUST BRC CNV SECS COM 78464A359 3,137 65,682 SH   SOLE NONE 10,692 0 54,990
SPDR SERIES TRUST SP REGL BKG COM 78464A698 70,790 1,733,766 SH   SOLE NONE 1,171,101 0 562,665
SELECT SECTOR SPDR TR SBI CONS COM 81369Y407 35,267 468,047 SH   SOLE NONE 313,730 0 154,317
SPECTRUM PHARMACEUTICALS INC COM 84763A108 141 23,257 SH   SOLE NONE 23,257 0 0
SYNGENTA AG SPONSORED ADR COM 87160A100 3,228 47,598 SH   SOLE NONE 0 0 47,598
TJX COS INC NEW COM 872540109 224 3,195 SH   SOLE NONE 3,195 0 0
TAIWAN SEMICONDUCTOR MFG LTD S COM 874039100 3,565 151,829 SH   SOLE NONE 0 0 151,829
3M CO COM 88579Y101 3,541 21,466 SH   SOLE NONE 0 0 21,466
TIVO INC COM 888706108 142 13,346 SH   SOLE NONE 0 0 13,346
TRACTOR SUPPLY CO COM 892356106 244 2,872 SH   SOLE NONE 2,872 0 0
TWO HBRS INVT CORP COM 90187B101 159 14,970 SH   SOLE NONE 0 0 14,970
UNILEVER PLC SPON ADR NEW COM 904767704 3,198 76,668 SH   SOLE NONE 0 0 76,668
UNITED PARCEL SERVICE INC CL B COM 911312106 2,429 25,061 SH   SOLE NONE 0 0 25,061
UNITED STATES STL CORP NEW COM 912909108 208 8,540 SH   SOLE NONE 0 0 8,540
V F CORP COM 918204108 223 2,967 SH   SOLE NONE 2,967 0 0
VALERO ENERGY CORP NEW COM 91913Y100 223 3,498 SH   SOLE NONE 3,498 0 0
VANGUARD TAX MANAGED INTL FD F COM 921943858 4,179 104,924 SH   SOLE NONE 0 0 104,924
VANGUARD INTL EQUITY INDEX F F COM 922042866 34,593 564,505 SH   SOLE NONE 379,521 0 184,984
VANGUARD SCOTTSDALE FDS MORTG- COM 92206C771 10,147 189,918 SH   SOLE NONE 9,577 0 180,341
VANGUARD SCOTTSDALE FDS LG-TER COM 92206C813 20,039 212,957 SH   SOLE NONE 10,829 0 202,128
VANGUARD INDEX FDS VALUE ETF COM 922908744 68,527 818,716 SH   SOLE NONE 565,430 0 253,286
WISDOMTREE TR EUROPE SMCP DV COM 97717W869 11,100 199,454 SH   SOLE NONE 199,454 0 0
WISDOMTREE TR EUROPE HEDGED EQ COM 97717X701 53,912 815,127 SH   SOLE NONE 540,157 0 274,970
YUM BRANDS INC COM 988498101 2,853 36,246 SH   SOLE NONE 0 0 36,246
MARVELL TECHNOLOGY GROUP LTD O COM G5876H105 181 12,330 SH   SOLE NONE 0 0 12,330
XL GROUP PLC SHS COM G98290102 205 5,569 SH   SOLE NONE 5,569 0 0
BAY BANCORP INC COM 07203T106 116 22,217 SH   DFND 1 0 0 22,217
DBX ETF TR XTRAK MSCI EAFE COM 233051200 10,252 342,206 SH   DFND 1 0 0 342,206
FIRST TR EXCHANGE TRADED FD NY COM 33733E203 739 6,252 SH   DFND 1 0 0 6,252
FIRST TR EXCHANGE TRADED FD DJ COM 33733E302 695 10,698 SH   DFND 1 0 0 10,698
FIRST TR EXCHANGE TRADED FD CO COM 33734X101 710 19,024 SH   DFND 1 0 0 19,024
FIRST TR EXCHANGE TRADED FD CO COM 33734X119 697 15,615 SH   DFND 1 0 0 15,615
FIRST TR EXCHANGE TRADED FD HL COM 33734X143 722 10,773 SH   DFND 1 0 0 10,773
ISHARES TR CORE US AGGBD ET COM 464287226 866 7,773 SH   DFND 1 0 0 7,773
ISHARES TR IBOXX INV CP ETF COM 464287242 856 7,036 SH   DFND 1 0 0 7,036
ISHARES TR 20+ YR TR BD ETF COM 464287432 314 2,401 SH   DFND 1 0 0 2,401
ISHARES TR RUS 1000 GRW ETF COM 464287614 10,236 103,475 SH   DFND 1 0 0 103,475
ISHARES CORE LT USDB ETF COM 464289479 314 4,828 SH   DFND 1 0 0 4,828
ISHARES 10+ YR CR BD ETF COM 464289511 312 4,984 SH   DFND 1 0 0 4,984
ISHARES TR BAA BA RTD ETF COM 46432F107 313 5,825 SH   DFND 1 0 0 5,825
SPDR SP 500 ETF TR TR UNIT COM 78462F103 11,562 56,007 SH   DFND 1 0 0 56,007
VANGUARD BD INDEX FD INC SHORT COM 921937827 317 3,931 SH   DFND 1 0 0 3,931
VANGUARD BD INDEX FD INC TOTAL COM 921937835 830 9,957 SH   DFND 1 0 0 9,957
VANGUARD CHARLOTTE FDS INTL BD COM 92203J407 540 9,981 SH   DFND 1 0 0 9,981
VANGUARD INTL EQUITY INDEX F F COM 922042858 4,436 108,550 SH   DFND 1 0 0 108,550
VANGUARD INDEX FDS MID CAP ETF COM 922908629 4,745 35,758 SH   DFND 1 0 0 35,758
VANGUARD INDEX FDS VALUE ETF COM 922908744 9,872 117,946 SH   DFND 1 0 0 117,946
VANGUARD INDEX FDS SMALL CP ET COM 922908751 2,888 23,565 SH   DFND 1 0 0 23,565
SPDR S&P 500 ETF TR COM 78462F103 3,096 150,000 SH Put SOLE NONE 0 0 150,000
POWERSHS DB US DOLLAR INDEX COM 73936D107 363 140,000 SH Put SOLE NONE 0 0 140,000