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
BARCLAYS BK PLC DJUBS CMDT ETN36 06738C778 7,692 314,619 SH   SOLE N/A 314,619 0 0
ISHARES TR 20+ YR TR BD ETF 464287432 6,788 54,945 SH   SOLE N/A 54,945 0 0
ISHARES TR CORE MSCI EAFE 46432F842 22,590 427,751 SH   SOLE N/A 427,751 0 0
ISHARES TR CORE S&P500 ETF 464287200 70,614 366,428 SH   SOLE N/A 366,428 0 0
ISHARES TR CORE US AGGBD ET 464287226 4,572 41,725 SH   SOLE N/A 41,725 0 0
ISHARES TR HDG MSCI JAPAN 46434V886 4,655 169,398 SH   SOLE N/A 169,398 0 0
ISHARES TR IBOXX HI YD ETF 464288513 18,781 225,492 SH   SOLE N/A 225,492 0 0
ISHARES TR MSCI EAFE ETF 464287465 27,859 1,624,834 SH   SOLE N/A 1,624,834 0 0
ISHARES TR NA NAT RES 464287374 39,580 1,362,934 SH   SOLE N/A 1,362,934 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 15,460 141,577 SH   SOLE N/A 141,577 0 0
ISHARES TR S&P MC 400GR ETF 464287606 4,455 28,361 SH   SOLE N/A 28,361 0 0
ISHARES TR TIPS BD ETF 464287176 13,795 124,627 SH   SOLE N/A 124,627 0 0
ISHARES TR U.S. REAL ES ETF 464287739 8,604 121,266 SH   SOLE N/A 121,266 0 0
ISHARES TR MSCI EAFE ETF 464287465 403,389 7,037,500 SH Put SOLE N/A 7,037,500 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 297,766 9,083,800 SH Put SOLE N/A 9,083,800 0 0
SPDR SERIES TRUST S&P OILGAS EXP 78464A730 10,482 1,591,881 SH   SOLE N/A 1,591,881 0 0
VANGUARD CHARLOTTE FDS INTL BD IDX ETF 92203J407 30,114 568,946 SH   SOLE N/A 568,946 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 69,537 2,748,035 SH   SOLE N/A 2,748,035 0 0
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 9,184 257,674 SH   SOLE N/A 257,674 0 0
WISDOMTREE TR EUROPE HEDGED EQ 97717X701 1,395 25,527 SH   SOLE N/A 25,527 0 0