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
ABBOTT LABS COM 002824100 462 11,990 SH   SOLE   11,990 0 0
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 1,395 17,499 SH   SOLE   17,499 0 0
ADVANCED SEMICONDUCTOR ENGR SPONSORED ADR 00756M404 500 90,000 SH   SOLE   90,000 0 0
ALASKA AIR GROUP INC COM 011659109 2,593 27,791 SH   SOLE   27,791 0 0
ALCOBRA LTD SHS M2239P109 635 35,000 SH   SOLE   35,000 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 955 13,160 SH   SOLE   13,160 0 0
ALLEGION PUB LTD CO ORD SHS G0176J109 282 5,399 SH   SOLE   5,399 0 0
ALLSTATE CORP COM 020002101 2,582 45,632 SH   SOLE   45,632 0 0
ALPS ETF TR ALERIAN MLP 00162Q866 315 17,850 SH   SOLE   17,850 0 0
AMAZON COM INC COM 023135106 423 1,258 SH   SOLE   1,258 0 0
AMBIT BIOSCIENCES CORP COM 02318X100 319 35,000 SH   SOLE   35,000 0 0
AMERICAN EXPRESS CO COM 025816109 2,645 29,374 SH   SOLE   29,374 0 0
AMERICAN TOWER CORP NEW COM 03027X100 409 5,000 SH   SOLE   5,000 0 0
AMGEN INC COM 031162100 492 3,988 SH   SOLE   3,988 0 0
ANGLOGOLD ASHANTI LTD SPONSORED ADR 035128206 222 13,000 SH   SOLE   13,000 0 0
APPLE INC COM 037833100 4,907 9,142 SH   SOLE   9,142 0 0
ARRAY BIOPHARMA INC COM 04269X105 494 105,000 SH   SOLE   105,000 0 0
AT&T INC COM 00206R102 359 10,242 SH   SOLE   10,242 0 0
AUTOMATIC DATA PROCESSING IN COM 053015103 818 10,594 SH   SOLE   10,594 0 0
AUTOZONE INC COM 053332102 2,144 3,991 SH   SOLE   3,991 0 0
AVALONBAY CMNTYS INC COM 053484101 988 7,521 SH   SOLE   7,521 0 0
AVIV REIT INC MD COM 05381L101 440 18,000 SH   SOLE   18,000 0 0
BANCO MACRO SA SPON ADR B 05961W105 225 8,000 SH   SOLE   8,000 0 0
BANK OF AMERICA CORPORATION COM 060505104 197 11,432 SH   SOLE   11,432 0 0
BENCHMARK ELECTRS INC COM 08160H101 245 10,800 SH   SOLE   10,800 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 297 2,375 SH   SOLE   2,375 0 0
BIODELIVERY SCIENCES INTL IN COM 09060J106 2,890 342,400 SH   SOLE   342,400 0 0
BIOTA PHARMACEUTIALS INC COM 090694100 703 115,000 SH   SOLE   115,000 0 0
BOSTON PROPERTIES INC COM 101121101 467 4,075 SH   SOLE   4,075 0 0
BP PLC SPONSORED ADR 055622104 428 8,907 SH   SOLE   8,907 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 1,507 29,010 SH   SOLE   29,010 0 0
BT GROUP PLC ADR 05577E101 3,699 57,939 SH   SOLE   57,939 0 0
CAMDEN PPTY TR SH BEN INT 133131102 478 7,100 SH   SOLE   7,100 0 0
CAPITAL ONE FINL CORP COM 14040H105 590 7,640 SH   SOLE   7,640 0 0
CARDINAL HEALTH INC COM 14149Y108 418 5,970 SH   SOLE   5,970 0 0
CBL & ASSOC PPTYS INC COM 124830100 854 48,100 SH   SOLE   48,100 0 0
CHEVRON CORP NEW COM 166764100 3,465 29,138 SH   SOLE   29,138 0 0
CISCO SYS INC COM 17275R102 1,983 88,453 SH   SOLE   88,453 0 0
COCA COLA CO COM 191216100 235 6,077 SH   SOLE   6,077 0 0
COMPANHIA ENERGETICA DE MINA SP ADR N-V PFD 204409601 356 52,306 SH   SOLE   52,306 0 0
CONOCOPHILLIPS COM 20825C104 1,057 15,020 SH   SOLE   15,020 0 0
CONSOL ENERGY INC COM 20854P109 232 5,800 SH   SOLE   5,800 0 0
CORESITE RLTY CORP COM 21870Q105 527 17,000 SH   SOLE   17,000 0 0
COSTCO WHSL CORP NEW COM 22160K105 303 2,717 SH   SOLE   2,717 0 0
CUBESMART COM 229663109 686 40,000 SH   SOLE   40,000 0 0
DDR CORP COM 23317H102 330 20,000 SH   SOLE   20,000 0 0
DELUXE CORP COM 248019101 2,377 45,295 SH   SOLE   45,295 0 0
DIGITAL RLTY TR INC COM 253868103 207 3,900 SH   SOLE   3,900 0 0
DISCOVER FINL SVCS COM 254709108 2,077 35,690 SH   SOLE   35,690 0 0
DISH NETWORK CORP CL A 25470M109 2,343 37,670 SH   SOLE   37,670 0 0
DONNELLEY R R & SONS CO COM 257867101 1,691 94,455 SH   SOLE   94,455 0 0
DOW CHEM CO COM 260543103 610 12,550 SH   SOLE   12,550 0 0
DR REDDYS LABS LTD ADR 256135203 351 8,000 SH   SOLE   8,000 0 0
DUKE ENERGY CORP NEW COM NEW 26441C204 695 9,753 SH   SOLE   9,753 0 0
DUKE REALTY CORP COM NEW 264411505 506 30,000 SH   SOLE   30,000 0 0
DUPONT FABROS TECHNOLOGY INC COM 26613Q106 324 13,445 SH   SOLE   13,445 0 0
EATON VANCE TX MNG BY WRT OP COM 27828Y108 170 12,000 SH   SOLE   12,000 0 0
ENANTA PHARMACEUTICALS INC COM 29251M106 2,971 74,306 SH   SOLE   74,306 0 0
ENDOCYTE INC COM 29269A102 2,643 111,000 SH   SOLE   111,000 0 0
ENTEROMEDICS INC COM NEW 29365M208 578 317,700 SH   SOLE   317,700 0 0
EQUITY ONE COM 294752100 246 11,000 SH   SOLE   11,000 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 870 15,000 SH   SOLE   15,000 0 0
ESSEX PPTY TR INC COM 297178105 255 1,500 SH   SOLE   1,500 0 0
EXELIS INC COM 30162A108 1,907 100,342 SH   SOLE   100,342 0 0
EXXON MOBIL CORP COM 30231G102 4,246 43,466 SH   SOLE   43,466 0 0
FLAMEL TECHNOLOGIES SA SPONSORED ADR 338488109 804 60,000 SH   SOLE   60,000 0 0
FLEXTRONICS INTL LTD ORD Y2573F102 1,742 188,565 SH   SOLE   188,565 0 0
FUTUREFUEL CORPORATION COM 36116M106 294 14,500 SH   SOLE   14,500 0 0
GAP INC DEL COM 364760108 591 14,755 SH   SOLE   14,755 0 0
GENERAL DYNAMICS CORP COM 369550108 875 8,036 SH   SOLE   8,036 0 0
GENERAL ELECTRIC CO COM 369604103 815 31,462 SH   SOLE   31,462 0 0
GENERAL MLS INC COM 370334104 490 9,454 SH   SOLE   9,454 0 0
GLATFELTER COM 377316104 220 8,100 SH   SOLE   8,100 0 0
GLOBAL CASH ACCESS HLDGS INC COM 378967103 134 19,500 SH   SOLE   19,500 0 0
GLOBAL X FDS GBX X FTSEAR NEW 37950E259 384 19,400 SH   SOLE   19,400 0 0
GLOBAL X FDS FTSE GREECE 20 37950E366 781 31,800 SH   SOLE   31,800 0 0
GOOGLE INC CL A 38259P508 1,340 1,202 SH   SOLE   1,202 0 0
GREEN PLAINS RENEWABLE ENERG COM 393222104 410 13,700 SH   SOLE   13,700 0 0
HARLEY DAVIDSON INC COM 412822108 290 4,355 SH   SOLE   4,355 0 0
HARMONY GOLD MNG LTD SPONSORED ADR 413216300 70 22,800 SH   SOLE   22,800 0 0
HARRIS CORP DEL COM 413875105 1,945 26,585 SH   SOLE   26,585 0 0
HEWLETT PACKARD CO COM 428236103 471 14,551 SH   SOLE   14,551 0 0
HUMANA INC COM 444859102 1,224 10,856 SH   SOLE   10,856 0 0
HUNTINGTON INGALLS INDS INC COM 446413106 2,770 27,084 SH   SOLE   27,084 0 0
ICICI BK LTD ADR 45104G104 876 20,000 SH   SOLE   20,000 0 0
INFOSYS LTD SPONSORED ADR 456788108 867 16,000 SH   SOLE   16,000 0 0
INGERSOLL-RAND PLC SHS G47791101 888 15,510 SH   SOLE   15,510 0 0
INTEL CORP COM 458140100 1,393 53,963 SH   SOLE   53,963 0 0
INTERMUNE INC COM 45884X103 2,410 72,000 SH   SOLE   72,000 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 4,551 23,643 SH   SOLE   23,643 0 0
ISHARES MSCI TAIWAN ETF 464286731 720 50,000 SH   SOLE   50,000 0 0
ISHARES MSCI STH AFR ETF 464286780 795 12,000 SH   SOLE   12,000 0 0
ISHARES MSCI JAPAN ETF 464286848 389 34,300 SH   SOLE   34,300 0 0
ISHARES MSCI ITALCPD ETF 464286855 390 22,000 SH   SOLE   22,000 0 0
ISHARES SELECT DIVID ETF 464287168 692 9,442 SH   SOLE   9,442 0 0
ISHARES CORE S&P500 ETF 464287200 557 2,960 SH   SOLE   2,960 0 0
ISHARES CORE TOTUSBD ETF 464287226 27,702 256,716 SH   SOLE   256,716 0 0
ISHARES MSCI EMG MKT ETF 464287234 540 13,157 SH   SOLE   13,157 0 0
ISHARES IBOXX INV CP ETF 464287242 55,704 476,343 SH   SOLE   476,343 0 0
ISHARES MSCI EAFE ETF 464287465 4,085 60,792 SH   SOLE   60,792 0 0
ISHARES COHEN&STEER REIT 464287564 1,153 14,017 SH   SOLE   14,017 0 0
ISHARES RUS 2000 VAL ETF 464287630 2,398 23,784 SH   SOLE   23,784 0 0
ISHARES U.S. REAL ES ETF 464287739 56,702 837,929 SH   SOLE   837,929 0 0
ISHARES SP SMCP600VL ETF 464287879 7,585 66,854 SH   SOLE   66,854 0 0
ISHARES CALI AMT-FRE ETF 464288356 4,893 43,220 SH   SOLE   43,220 0 0
ISHARES GLB INFRASTR ETF 464288372 2,174 52,200 SH   SOLE   52,200 0 0
ISHARES IBOXX HI YD ETF 464288513 347 3,675 SH   SOLE   3,675 0 0
ISHARES 1-3 YR CR BD ETF 464288646 5,998 56,861 SH   SOLE   56,861 0 0
ISHARES INDIA 50 ETF 464289529 404 15,700 SH   SOLE   15,700 0 0
ISHARES TR IRELAND CAPD ETF 46429B507 365 9,300 SH   SOLE   9,300 0 0
ISHARES TR HIGH DIVIDND ETF 46429B663 382 5,343 SH   SOLE   5,343 0 0
ISHARES TR MSCI RUSSIA CAP 46429B705 360 19,500 SH   SOLE   19,500 0 0
JOHNSON & JOHNSON COM 478160104 3,868 39,373 SH   SOLE   39,373 0 0
JPMORGAN CHASE & CO COM 46625H100 275 4,524 SH   SOLE   4,524 0 0
KIMBERLY CLARK CORP COM 494368103 705 6,396 SH   SOLE   6,396 0 0
KITE RLTY GROUP TR COM 49803T102 720 120,000 SH   SOLE   120,000 0 0
LIBERTY PPTY TR SH BEN INT 531172104 218 5,900 SH   SOLE   5,900 0 0
LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 2,188 24,599 SH   SOLE   24,599 0 0
MACK CALI RLTY CORP COM 554489104 832 40,000 SH   SOLE   40,000 0 0
MACYS INC COM 55616P104 635 10,712 SH   SOLE   10,712 0 0
MARATHON PETE CORP COM 56585A102 1,758 20,202 SH   SOLE   20,202 0 0
MARKET VECTORS ETF TR EGYPT INDX ETF 57061R569 407 6,100 SH   SOLE   6,100 0 0
MATTEL INC COM 577081102 458 11,426 SH   SOLE   11,426 0 0
MCDONALDS CORP COM 580135101 511 5,211 SH   SOLE   5,211 0 0
MERCK & CO INC NEW COM 58933Y105 384 6,756 SH   SOLE   6,756 0 0
MICROSOFT CORP COM 594918104 3,500 85,382 SH   SOLE   85,382 0 0
MIRATI THERAPEUTICS INC COM 60468T105 648 34,000 SH   SOLE   34,000 0 0
MOBILE TELESYSTEMS OJSC SPONSORED ADR 607409109 262 15,000 SH   SOLE   15,000 0 0
NET 1 UEPS TECHNOLOGIES INC COM NEW 64107N206 118 11,800 SH   SOLE   11,800 0 0
NORFOLK SOUTHERN CORP COM 655844108 1,099 11,312 SH   SOLE   11,312 0 0
NORTHROP GRUMMAN CORP COM 666807102 2,232 18,094 SH   SOLE   18,094 0 0
NTELOS HLDGS CORP COM NEW 67020Q305 177 13,100 SH   SOLE   13,100 0 0
ONE LIBERTY PPTYS INC COM 682406103 224 10,500 SH   SOLE   10,500 0 0
ORACLE CORP COM 68389X105 593 14,497 SH   SOLE   14,497 0 0
OREXIGEN THERAPEUTICS INC COM 686164104 1,287 198,000 SH   SOLE   198,000 0 0
PACKAGING CORP AMER COM 695156109 2,039 28,981 SH   SOLE   28,981 0 0
PARTNER COMMUNICATIONS CO LT ADR 70211M109 115 12,810 SH   SOLE   12,810 0 0
PEPSICO INC COM 713448108 336 4,019 SH   SOLE   4,019 0 0
PFIZER INC COM 717081103 306 9,526 SH   SOLE   9,526 0 0
PHILIP MORRIS INTL INC COM 718172109 232 2,829 SH   SOLE   2,829 0 0
PLEXUS CORP COM 729132100 200 5,000 SH   SOLE   5,000 0 0
PNC FINL SVCS GROUP INC COM 693475105 935 10,743 SH   SOLE   10,743 0 0
POWERSHARES ETF TRUST II SENIOR LN PORT 73936Q769 298 12,000 SH   SOLE   12,000 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 68,358 779,727 SH   SOLE   779,727 0 0
PPG INDS INC COM 693506107 1,734 8,962 SH   SOLE   8,962 0 0
PROCTER & GAMBLE CO COM 742718109 816 10,123 SH   SOLE   10,123 0 0
PROLOGIS INC COM 74340W103 572 14,000 SH   SOLE   14,000 0 0
PS BUSINESS PKS INC CALIF COM 69360J107 669 8,000 SH   SOLE   8,000 0 0
QUALCOMM INC COM 747525103 223 2,833 SH   SOLE   2,833 0 0
REGENCY CTRS CORP COM 758849103 511 10,000 SH   SOLE   10,000 0 0
REPUBLIC AWYS HLDGS INC COM 760276105 93 10,200 SH   SOLE   10,200 0 0
RETAIL PPTYS AMER INC CL A 76131V202 1,016 75,000 SH   SOLE   75,000 0 0
REYNOLDS AMERICAN INC COM 761713106 1,208 22,605 SH   SOLE   22,605 0 0
ROUSE PPTYS INC COM 779287101 172 10,000 SH   SOLE   10,000 0 0
SANMINA CORPORATION COM 801056102 291 16,700 SH   SOLE   16,700 0 0
SAUL CTRS INC COM 804395101 332 7,000 SH   SOLE   7,000 0 0
SCHWAB STRATEGIC TR US LRG CAP ETF 808524201 1,985 44,405 SH   SOLE   44,405 0 0
SEAGATE TECHNOLOGY PLC SHS G7945M107 3,100 55,195 SH   SOLE   55,195 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 335 7,783 SH   SOLE   7,783 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 7,644 342,162 SH   SOLE   342,162 0 0
SESA STERLITE LTD SPONSORED ADR 78413F103 199 16,000 SH   SOLE   16,000 0 0
SIMON PPTY GROUP INC NEW COM 828806109 826 5,036 SH   SOLE   5,036 0 0
SL GREEN RLTY CORP COM 78440X101 543 5,398 SH   SOLE   5,398 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 1,020 8,253 SH   SOLE   8,253 0 0
SPDR INDEX SHS FDS S&P INTL ETF 78463X772 505 10,390 SH   SOLE   10,390 0 0
SPDR INDEX SHS FDS MSCI ACWI EXUS 78463X848 373 10,425 SH   SOLE   10,425 0 0
SPDR INDEX SHS FDS S&P GBLINF ETF 78463X855 267 5,600 SH   SOLE   5,600 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 76,344 408,233 SH   SOLE   408,233 0 0
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 318 1,269 SH   SOLE   1,269 0 0
SPDR SERIES TRUST NUVN BR SHT MUNI 78464A425 34,136 1,407,162 SH   SOLE   1,407,162 0 0
SPDR SERIES TRUST NUVN BRCLY MUNI 78464A458 7,407 318,563 SH   SOLE   318,563 0 0
SPDR SERIES TRUST S&P DIVID ETF 78464A763 216 2,930 SH   SOLE   2,930 0 0
SPDR SERIES TRUST S&P BK ETF 78464A797 300 8,800 SH   SOLE   8,800 0 0
SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 2,885 270,375 SH   SOLE   270,375 0 0
SSGA ACTIVE ETF TR BLKSTN GSOSRLN 78467V608 271 5,410 SH   SOLE   5,410 0 0
STONERIDGE INC COM 86183P102 168 15,000 SH   SOLE   15,000 0 0
SUPERVALU INC COM 868536103 232 33,900 SH   SOLE   33,900 0 0
SWIFT TRANSN CO CL A 87074U101 2,401 97,001 SH   SOLE   97,001 0 0
SYNERGY PHARMACEUTICALS DEL COM NEW 871639308 613 115,500 SH   SOLE   115,500 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 606 30,288 SH   SOLE   30,288 0 0
TATA MTRS LTD SPONSORED ADR 876568502 708 20,000 SH   SOLE   20,000 0 0
TECH DATA CORP COM 878237106 2,217 36,372 SH   SOLE   36,372 0 0
TEKMIRA PHARMACEUTICALS CORP COM NEW 87911B209 2,052 95,500 SH   SOLE   95,500 0 0
TRAVELERS COMPANIES INC COM 89417E109 1,258 14,778 SH   SOLE   14,778 0 0
UNISYS CORP COM NEW 909214306 2,221 72,909 SH   SOLE   72,909 0 0
UNITED PARCEL SERVICE INC CL B 911312106 314 3,223 SH   SOLE   3,223 0 0
UNITED TECHNOLOGIES CORP COM 913017109 1,156 9,896 SH   SOLE   9,896 0 0
UNITEDHEALTH GROUP INC COM 91324P102 1,036 12,638 SH   SOLE   12,638 0 0
VALE S A ADR 91912E105 484 35,000 SH   SOLE   35,000 0 0
VALERO ENERGY CORP NEW COM 91913Y100 2,210 41,618 SH   SOLE   41,618 0 0
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 240 2,951 SH   SOLE   2,951 0 0
VANGUARD INDEX FDS REIT ETF 922908553 907 12,841 SH   SOLE   12,841 0 0
VANGUARD INDEX FDS SM CP VAL ETF 922908611 460 4,575 SH   SOLE   4,575 0 0
VANGUARD INDEX FDS LARGE CAP ETF 922908637 1,664 19,340 SH   SOLE   19,340 0 0
VANGUARD INDEX FDS TOTAL STK MKT 922908769 44,937 461,029 SH   SOLE   461,029 0 0
VANGUARD INTL EQUITY INDEX F ALLWRLD EX US 922042775 1,739 34,559 SH   SOLE   34,559 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 406 9,998 SH   SOLE   9,998 0 0
VANGUARD WHITEHALL FDS INC HIGH DIV YLD 921946406 932 14,773 SH   SOLE   14,773 0 0
VANGUARD WORLD FDS CONSUM DIS ETF 92204A108 5,488 51,870 SH   SOLE   51,870 0 0
VANGUARD WORLD FDS CONSUM STP ETF 92204A207 5,640 50,910 SH   SOLE   50,910 0 0
VANGUARD WORLD FDS ENERGY ETF 92204A306 3,823 29,775 SH   SOLE   29,775 0 0
VANGUARD WORLD FDS HEALTH CAR ETF 92204A504 5,672 53,045 SH   SOLE   53,045 0 0
VANGUARD WORLD FDS INDUSTRIAL ETF 92204A603 4,952 49,230 SH   SOLE   49,230 0 0
VANGUARD WORLD FDS INF TECH ETF 92204A702 5,995 65,500 SH   SOLE   65,500 0 0
VANGUARD WORLD FDS MATERIALS ETF 92204A801 1,779 16,735 SH   SOLE   16,735 0 0
VANGUARD WORLD FDS UTILITIES ETF 92204A876 2,204 24,345 SH   SOLE   24,345 0 0
VANGUARD WORLD FDS TELCOMM ETF 92204A884 1,298 15,250 SH   SOLE   15,250 0 0
WAL-MART STORES INC COM 931142103 596 7,798 SH   SOLE   7,798 0 0
WELLS FARGO & CO NEW COM 949746101 2,031 40,841 SH   SOLE   40,841 0 0
WESTERN DIGITAL CORP COM 958102105 2,157 23,487 SH   SOLE   23,487 0 0
WESTLAKE CHEM CORP COM 960413102 1,970 29,771 SH   SOLE   29,771 0 0
WHIRLPOOL CORP COM 963320106 1,971 13,185 SH   SOLE   13,185 0 0
WINTHROP RLTY TR SH BEN INT NEW 976391300 264 22,800 SH   SOLE   22,800 0 0
XENOPORT INC COM 98411C100 620 120,000 SH   SOLE   120,000 0 0
YPF SOCIEDAD ANONIMA SPON ADR CL D 984245100 249 8,000 SH   SOLE   8,000 0 0