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 7,023 266,541 SH   OTR   266,541 0 0
ISHARES MSCI STH KOR ETF 464286772 7,309 117,610 SH   OTR   117,610 0 0
ISHARES MSCI AUST ETF 464286103 12,278 538,975 SH   OTR   538,975 0 0
ISHARES MSCI SPAN CP ETF 464286764 6,193 204,048 SH   OTR   204,048 0 0
ISHARES MSCI MEX CAP ETF 464286822 5,459 105,740 SH   OTR   105,740 0 0
ISHARES MSCI SZ CAP ETF 464286749 15,825 493,917 SH   OTR   493,917 0 0
ISHARES MSCI CDA ETF 464286509 2,693 100,202 SH   OTR   100,202 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 773 19,918 SH   OTR   19,918 0 0
ISHARES TR MSCI INDIA ETF 46429B598 7,151 226,600 SH   OTR   226,600 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 888 6,473 SH   OTR   6,473 0 0
ISHARES TR US OIL EQ&SV ETF 464288844 3,532 84,648 SH   OTR   84,648 0 0
ISHARES TR MSCI AC ASIA ETF 464288182 12,201 192,901 SH   OTR   192,901 0 0
OPKO HEALTH INC COM 68375N103 2,523 311,039 SH   OTR   311,039 0 0
ORMAT TECHNOLOGIES INC COM 686688102 10,284 180,822 SH   OTR   180,822 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 2,398 18,099 SH   OTR   18,099 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 15,714 210,732 SH   OTR   210,732 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 13,227 247,648 SH   OTR   247,648 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 6,242 114,038 SH   OTR   114,038 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 24,166 1,009,876 SH   OTR   1,009,876 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369y407 129 1,470 SH   OTR   1,470 0 0
SELECT SECTOR SPDR TR RL EST SEL SEC 81369Y860 4,675 148,611 SH   OTR   148,611 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 75 1,070 SH   OTR   1,070 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 95 1,454 SH   OTR   1,454 0 0
SPDR DOW JONES INDL AVRG ETF UT SER 1 78467X109 289 1,394 SH   OTR   1,394 0 0
SPDR INDEX SHS FDS S&P CHINA ETF 78463X400 12,247 148,372 SH   OTR   148,372 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 460 1,947 SH   OTR   1,947 0 0
SPDR SERIES TRUST S&P HOMEBUILD 78464A888 118 3,176 SH   OTR   3,176 0 0
SPDR SERIES TRUST S&P PHARMAC 78464A722 72 1,704 SH   OTR   1,704 0 0
SPDR SERIES TRUST S&P BK ETF 78464A797 14,673 338,254 SH   OTR   338,254 0 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 36,866 716,675 SH   OTR   716,675 0 0
WISDOMTREE TR EUROPE HEDGED EQ 97717X701 7,000 111,913 SH   OTR   111,913 0 0
WISDOMTREE TR JPAN HEDGE EQT 97717W851 91 1,775 SH   OTR   1,775 0 0