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 FRANCE ETF 464286707 6,526 266,541 SH   OTR   266,541 0 0
ISHARES MSCI STH KOR ETF 464286772 6,295 117,610 SH   OTR   117,610 0 0
ISHARES MSCI AUST ETF 464286103 10,981 538,975 SH   OTR   538,975 0 0
ISHARES MSCI SPAN CP ETF 464286764 5,268 200,364 SH   OTR   200,364 0 0
ISHARES MSCI SWEDEN ETF 464286756 6,102 212,982 SH   OTR   212,982 0 0
ISHARES MSCI MEX CAP ETF 464286822 4,674 105,740 SH   OTR   105,740 0 0
ISHARES MSCI SZ CAP ETF 464286749 14,448 493,080 SH   OTR   493,080 0 0
ISHARES MSCI CDA ETF 464286509 2,543 97,210 SH   OTR   97,210 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 693 19,918 SH   OTR   19,918 0 0
ISHARES TR MSCI INDIA ETF 46429B598 6,042 226,600 SH   OTR   226,600 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 1,598 11,811 SH   OTR   11,811 0 0
ISHARES TR US OIL EQ&SV ETF 464288844 3,826 84,248 SH   OTR   84,248 0 0
ISHARES TR MSCI AC ASIA ETF 464288182 10,628 192,901 SH   OTR   192,901 0 0
ISHARES TR EUROPE ETF 464287861 4,486 116,284 SH   OTR   116,284 0 0
ISHARES TR NASDQ BIOTEC ETF 464287556 2,869 10,743 SH   OTR   10,743 0 0
OPKO HEALTH INC COM 68375N103 3,567 311,039 SH   OTR   311,039 0 0
ORMAT TECHNOLOGIES INC COM 686688102 9,702 180,822 SH   OTR   180,822 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 2,131 17,807 SH   OTR   17,807 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 14,513 209,809 SH   OTR   209,809 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 13,278 272,504 SH   OTR   272,504 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 5,841 112,415 SH   OTR   112,415 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 24,772 1,068,026 SH   OTR   1,068,026 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369y407 46 557 SH   OTR   557 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 65 1,039 SH   OTR   1,039 0 0
SPDR DOW JONES INDL AVRG ETF UT SER 1 78467X109 276 1,394 SH   OTR   1,394 0 0
SPDR INDEX SHS FDS S&P CHINA ETF 78463X400 10,686 148,372 SH   OTR   148,372 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 805 3,587 SH   OTR   3,587 0 0
SPDR SERIES TRUST S&P HOMEBUILD 78464A888 62 1,829 SH   OTR   1,829 0 0
SPDR SERIES TRUST S&P BK ETF 78464A797 17,318 399,318 SH   OTR   399,318 0 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 33,929 711,773 SH   OTR   711,773 0 0
WISDOMTREE TR EUROPE HEDGED EQ 97717X701 6,394 111,913 SH   OTR   111,913 0 0
WISDOMTREE TR JPAN HEDGE EQT 97717W851 88 1,775 SH   OTR   1,775 0 0
SELECT SECTOR SPDR TR RL EST SEL SEC 81369Y860 4,526 148,611 SH   OTR   148,611 0 0