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 464286103 100 3,970 SH   OTR   3,970 0 0
ISHARES MSCI UK ETF 464286699 274 13,960 SH   OTR   13,960 0 0
ISHARES MSCI FRANCE ETF 464286707 113 4,220 SH   OTR   4,220 0 0
ISHARES MSCI SZ CAP ETF 464286749 129 4,110 SH   OTR   4,110 0 0
ISHARES MSCI SWEDEN ETF 464286756 39 1,130 SH   OTR   1,130 0 0
ISHARES MSCI SPAN CP ETF 464286764 36 1,050 SH   OTR   1,050 0 0
ISHARES MSCI GERMANY ETF 464286806 115 4,150 SH   OTR   4,150 0 0
ISHARES MSCI NETHERL ETF 464286814 37 1,560 SH   OTR   1,560 0 0
ISHARES MSCI JAPAN ETF 464286848 288 24,180 SH   OTR   24,180 0 0
ISHARES MSCI ITALCPD ETF 464286855 26 1,850 SH   OTR   1,850 0 0
ISHARES MSCI HONG KG ETF 464286871 42 2,080 SH   OTR   2,080 0 0
ISHARES S&P 100 ETF 464287101 1,587 21,200 SH   OTR   21,200 0 0
ISHARES TIPS BD ETF 464287176 523 4,650 SH   OTR   4,650 0 0
ISHARES IBOXX INV CP ETF 464287242 391 3,440 SH   OTR   3,440 0 0
ISHARES RUS MD CP GR ETF 464287481 515 6,580 SH   OTR   6,580 0 0
ISHARES RUS 1000 GRW ETF 464287614 504 6,450 SH   OTR   6,450 0 0
ISHARES RUS 2000 GRW ETF 464287648 551 4,380 SH   OTR   4,380 0 0
ISHARES IBOXX HI YD ETF 464288513 132 1,440 SH   OTR   1,440 0 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 30,331 722,001 SH   SOLE   722,001 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 29,794 588,940 SH   SOLE   588,940 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 30,562 504,068 SH   SOLE   504,068 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 29,695 358,163 SH   SOLE   358,163 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 29,875 1,500,890 SH   SOLE   1,500,890 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 30,671 660,944 SH   SOLE   660,944 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 30,105 939,602 SH   SOLE   939,602 0 0