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 NW Zealand CP ETF MSCI NW ZEALND CP ETF 464289123 322 5,600 SH   SOLE   5,600 0 0
iShares MSCI France ETF MSCI FRANCE ETF 464286707 6,575 235,343 SH   SOLE   235,343 0 0
iShares MSCI GERMANY ETF MSCI GERM 464286806 6,539 224,465 SH   SOLE   224,465 0 0
iShares MSCI Netherlands ETF MSCI NETHERL ETF 464286814 2,350 67,458 SH   SOLE   67,458 0 0
iShares MSCI Sweden ETF MSCI SWEDEN ETF 464286756 3,112 88,122 SH   SOLE   88,122 0 0
iShares MSCI SZ CAP ETF MSCI SZ CAP ETF 464286749 8,166 198,824 SH   SOLE   198,824 0 0
Vanguard Index Fds S&P 500 ETF S&P 500 ETF 922908363 60,022 195,099 SH   SOLE   195,099 0 0
SPDR Index SHS FDS Asia Pacif ETF Asia Pacif ETF 78463X301 15,763 141,512 SH   SOLE   141,512 0 0
iShares INC MSCI JPN ETF NEW MSCI JPN ETF 46434G822 10,067 170,427 SH   SOLE   170,427 0 0
Vanguard Index FDS Small CP ETF Small CP ETF 922908751 25,868 168,193 SH   SOLE   168,193 0 0
iShares MSCI CDA ETF MSCI CDA ETF 464286509 2,505 91,386 SH   SOLE   91,386 0 0
iShares TR MSCI UK ETF NEW MSCI UK ETF NEW 46435G334 6,178 242,376 SH   SOLE   242,376 0 0
iShares INC MSCI Aust ETF MSCI Aust ETF 464286103 2,970 150,620 SH   SOLE   150,620 0 0
iShares INC MSCI Italy ETF MSCI Italy ETF 46434G830 784 32,156 SH   SOLE   32,156 0 0
iShares INC MSCI Spain ETF MSCI Spain ETF 464286764 1,011 46,467 SH   SOLE   46,467 0 0
iShares TR LATN AMER 40 ETF TR LATN AMER 40 ETF 464287390 1,340 63,637 SH   SOLE   63,637 0 0
iShares TR MSCI EMG MKT ETF TR MSCI EMG MKT ETF 464287234 1,875 42,537 SH   SOLE   42,537 0 0