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 MSCI Aust ETF MSCI AUST ETF 464286103 765 36,400 SH   SOLE   36,400 0 0
iShares MSCI CDA ETF MSCI CDA ETF 464286509 1,582 59,300 SH   SOLE   59,300 0 0
iShares MSCI France ETF MSCI FRANCE ETF 464286707 3,914 152,125 SH   SOLE   152,125 0 0
iShares MSCI SZ CAP ETF MSCI SZ CAP ETF 464286749 760 23,200 SH   SOLE   23,200 0 0
iShares MSCI Italy Capped ETF MSCI ITALCPD ETF 464286855 5,613 376,977 SH   SOLE   376,977 0 0
iShares MSCI Netherlands ETF MSCI NETHERL ETF 464286814 8,098 315,205 SH   SOLE   315,205 0 0
iShares MSCI Spain Capped ETF MSCI SPAN CP ETF 464286764 6,316 188,268 SH   SOLE   188,268 0 0
iShares MSCI Sweden ETF MSCI SWEDEN ETF 464286756 3,827 120,457 SH   SOLE   120,457 0 0
iShares Core Latin America 40 ETF LATN AMER 40 ETF 464287390 2,441 81,910 SH   SOLE   81,910 0 0
SPDR S&P Emerging Asia Pacific ETF ASIA PACIF ETF 78463X301 4,011 45,470 SH   SOLE   45,470 0 0
Vanguard Index Fds S&P 500 ETF S&P 500 ETF 922908363 24,100 127,620 SH   SOLE   127,620 0 0
Wisdomtree TR Japan Hedge EQT Japan Hedge ETF 97717W851 6,331 110,675 SH   SOLE   110,675 0 0
iShares TR HDG MSCI Germn TR HDG MSCI GERMN 46434V704 8,183 313,645 SH   SOLE   313,645 0 0
iShares NW Zealand CP ETF NW Zealand CP ETF 464289123 740 21,325 SH   SOLE   21,325 0 0
iShares TR MSCI UTD KNGDM MSCI UTD KNGDM 46434V548 777 42,575 SH   SOLE   42,575 0 0
Vanguard Index FDS Small CP ETF Small CP ETF 922908751 10,299 84,783 SH   SOLE   84,783 0 0