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
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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
POWERSHARES EXCHANGE TRADED FD TR DYNAMIC PHARMACEUTICALS PORTFOLIO ETF 73935X799 17,390 221,987 SH   SOLE   221,987 0 0
ISHARES NASDAQ BIOTECHNOLOGY ETF ETF 464287556 13,149 35,638 SH   SOLE   35,638 0 0
WISDOMTREE TRUST JAPAN HEDGE EQT ISIN #US97717W8516 SEDOL #B17FKC6 ETF 97717W851 4,824 84,339 SH   SOLE   84,339 0 0
ISHARES CHINA LARGE CAP ETF ETF 464287184 4,552 98,752 SH   SOLE   98,752 0 0
ISHARES U S HEALTHCARE PROVIDERS ETF ETF 464288828 12,745 89,154 SH   SOLE   89,154 0 0
MARKET VECTORS ETF PHARMACEUTICAL ETF ETF 57060U217 831 11,750 SH   SOLE   11,750 0 0
SPDR SER TR S&P SEMICONDUCTOR ETF ETF 78464A862 12,689 147,397 SH   SOLE   147,397 0 0
ISHARES MSCI CHINA SMALL CAP ETF ETF 46429B200 4,439 76,727 SH   SOLE   76,727 0 0
POWERSHARES EXCHANGE TRADED FD TR DYNAMIC SEMICONDUCTORS PORTFOLIO ETF 73935X781 1,873 69,871 SH   SOLE   69,871 0 0
GUGGENHEIM S&P 500 EQUAL WEIGHT HEALTHCARE ETF ETF 78355W841 18,549 116,289 SH   SOLE   116,289 0 0
FIRST TR EXCHANGE TRADED FD NY ARCA BIOTECHNOLOGY INDEX FD ETF 33733E203 6,625 53,417 SH   SOLE   53,417 0 0
WISDOMTREE TRUST JAPAN SMALLCAP ISIN #US97717W5215 SEDOL #BBT3Q97 ETF 97717W521 5,345 148,855 SH   SOLE   148,855 0 0
SPDR SER TR S&P BIOTECH ETF ETF 78464A870 12,047 47,761 SH   SOLE   47,761 0 0
POWERSHARES EXCHANGE TRADED FD TR II S&P SMALLCAP HEALTH CARE PORT ETF 73937B886 4,177 58,613 SH   SOLE   58,613 0 0
ISHARES U.S. MEDICAL DEVICES ETF ETF 464288810 3,490 29,148 SH   SOLE   29,148 0 0
SPDR SER TR S&P PHARMACEUTICALS ETF ETF 78464A722 7,751 62,158 SH   SOLE   62,158 0 0
WISDOMTREE TRUST JAPAN HEDGED FINLS ISIN #US97717W4630 SEDOL #BLGBVF5 ETF 97717W463 599 20,131 SH   SOLE   20,131 0 0
ISHARES GLOBAL HEALTHCARE ETF ETF 464287325 794 7,299 SH   SOLE   7,299 0 0
MARKET VECTORS ETF TRUST SEMICONDUCTOR ETF ETF 57060U233 799 14,640 SH   SOLE   14,640 0 0
MARKET VECTORS ETF TRUST RETAIL ETF ETF 57060U225 4,285 57,400 SH   SOLE   57,400 0 0
GLOBAL X FDS GLOBAL X CHINA FINLS ETF ETF ETF 37950E606 342 19,079 SH   SOLE   19,079 0 0
MARKET VECTORS ETF TRUST BIOTECH ETF ETF 57060U183 852 6,316 SH   SOLE   6,316 0 0
ISHARES US PHARMACEUTICALS ETF ETF 464288836 1,983 11,341 SH   SOLE   11,341 0 0