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
ALL WORLD EX-US COM 922042775 874 17,926 SH   SOLE   17,926 0 0
CHINA COM 464287184 28,685 646,061 SH   SOLE   646,061 0 0
DEVELOPED INTL COM 464287465 20,140 313,852 SH   SOLE   313,852 0 0
EMERGING ASIA PACIFIC COM 78463X301 984 11,177 SH   SOLE   11,177 0 0
EMERGING INTL COM 464287234 1,120 27,900 SH   SOLE   27,900 0 0
EMERGING INTL. SMALL-CAP COM 97717W281 721 16,301 SH   SOLE   16,301 0 0
EUROPE COM 78463X202 1,522 39,203 SH   SOLE   39,203 0 0
EUROPE FINANCIALS COM 464289180 1,378 59,983 SH   SOLE   59,983 0 0
GERMANY COM 464286806 1,579 52,928 SH   SOLE   52,928 0 0
INDIA COM 73935L100 871 38,590 SH   SOLE   38,590 0 0
INDONESIA COM 46429B309 898 32,352 SH   SOLE   32,352 0 0
JAPAN COM 97717W851 60,518 1,097,936 SH   SOLE   1,097,936 0 0
SINGAPORE COM 464286673 893 69,774 SH   SOLE   69,774 0 0
SOUTH KOREA COM 464286772 865 15,117 SH   SOLE   15,117 0 0
SWITZERLAND COM 464286749 253 7,615 SH   SOLE   7,615 0 0
THAILAND COM 464286624 1,208 15,215 SH   SOLE   15,215 0 0
UNITED KINGDOM COM 46434V548 1,240 68,868 SH   SOLE   68,868 0 0
VIETNAM COM 57060U761 1,019 60,395 SH   SOLE   60,395 0 0
BROKER DEALERS COM 464288794 11,419 266,543 SH   SOLE   266,543 0 0
CONSUMER DISC COM 81369Y407 21,849 289,961 SH   SOLE   289,961 0 0
CONSUMER STAPLES COM 81369Y308 8,526 174,933 SH   SOLE   174,933 0 0
DOW JONES DIVIDEND COM 464287168 7,441 95,467 SH   SOLE   95,467 0 0
ENERGY COM 81369Y506 1,094 14,100 SH   SOLE   14,100 0 0
FINANCIALS COM 78464A797 959 28,631 SH   SOLE   28,631 0 0
FINANCIALS COM 81369Y605 53,065 2,200,953 SH   SOLE   2,200,953 0 0
HEALTH CARE COM 92204A504 17,757 131,030 SH   SOLE   131,030 0 0
HEALTH CARE COM 81369Y209 51,542 710,928 SH   SOLE   710,928 0 0
HIGH YIELD COM 00768Y503 13,203 319,000 SH   SOLE   319,000 0 0
INDUSTRIALS COM 33734X150 935 30,000 SH   SOLE   30,000 0 0
INDUSTRIALS COM 81369Y704 3,275 58,731 SH   SOLE   58,731 0 0
LARGE-CAP BLEND COM 78462F103 96,269 466,352 SH   SOLE   466,352 0 0
LARGE-CAP GROWTH COM 464287614 285 2,885 SH   SOLE   2,885 0 0
MID-CAP GROWTH COM 464287606 16,789 97,890 SH   SOLE   97,890 0 0
REGIONAL BANKS COM 78464A698 301 7,365 SH   SOLE   7,365 0 0
S&P 500 EQUAL WEIGHT COM 78355W106 14,117 174,180 SH   SOLE   174,180 0 0
S&P 500 VALUE COM 464287200 253 1,217 SH   SOLE   1,217 0 0
SEMICONDUCTORS COM 57060U233 528 9,550 SH   SOLE   9,550 0 0
SENIOR LOAN PORTFOLIO COM 73936Q769 24,292 1,008,400 SH   SOLE   1,008,400 0 0
SHORT TERM BOND COM 921937827 11,763 146,085 SH   SOLE   146,085 0 0
SHORT TERM BONDS COM 18383M654 2,244 44,820 SH   SOLE   44,820 0 0
SHORT TERM BONDS COM 72201R833 14,040 138,807 SH   SOLE   138,807 0 0
SHORT TERM HIGH YIELD CORPORAT COM 72201R783 540 5,320 SH   SOLE   5,320 0 0
SMALL-CAP BLEND COM 464287655 519 4,170 SH   SOLE   4,170 0 0
SOFTWARE COM 464287515 15,309 159,303 SH   SOLE   159,303 0 0
TECHNOLOGY COM 81369Y803 29,386 709,113 SH   SOLE   709,113 0 0
US REAL ESTATE COM 922908553 7,104 84,264 SH   SOLE   84,264 0 0
US TOTAL MARKET COM 922908769 2,699 25,167 SH   SOLE   25,167 0 0