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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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 3,596 91,156 SH   SOLE   1,459 0 89,697
ISHARES EMU ETF 464286608 28,601 675,829 SH   SOLE   66,313 0 609,516
ISHARES MSCI FRNTR100ETF 464286145 8,963 248,494 SH   SOLE   28,028 0 220,466
ISHARES EAFE SML CP ETF 464288273 16,585 313,394 SH   SOLE   34,891 0 278,503
ISHARES ISHARES SILVER TRUST 46428Q109 413 20,380 SH   SOLE   2,444 0 17,936
ISHARES IBOXX INV CP ETF 464287242 23,261 195,049 SH   SOLE   15,353 0 179,696
ISHARES NA NAT RES 464287374 11,376 227,749 SH   SOLE   25,265 0 202,484
ISHARES EAFE GRWTH ETF 464288885 1,007 13,902 SH   SOLE   1,700 0 12,202
ISHARES EAFE VALUE ETF 464288877 20,569 351,201 SH   SOLE   32,164 0 319,037
ISHARES RUSSELL 2000 ETF 464287655 552 4,643 SH   SOLE   524 0 4,119
ISHARES RUS 1000 VAL ETF 464287598 21,366 210,979 SH   SOLE   19,675 0 191,304
ISHARES MODERT ALLOC ETF 464289875 973 27,230 SH   SOLE   0 0 27,230
ISHARES U.S. PFD STK ETF 464288687 26,627 667,177 SH   SOLE   46,232 0 620,945
ISHARES TIPS BD ETF 464287176 3,733 32,355 SH   SOLE   505 0 31,850
MARKET VECTORS ETF TR GOLD MINER ETF 57060U100 434 16,405 SH   SOLE   1,870 0 14,535
MARKET VECTORS ETF TR HG YLD MUN ETF 57060U878 458 15,180 SH   SOLE   0 0 15,180
SPDR GOLD TRUST GOLD SHS 78463V107 8,971 70,062 SH   SOLE   4,825 0 65,237
SPDR INDEX SHS FDS DJ INTL RL ETF 78463X863 4,175 94,381 SH   SOLE   1,409 0 92,972
SPDR INDEX SHS FDS INTL UTILT ETF 78463X632 231 11,503 SH   SOLE   0 0 11,503
SPDR SER TR SHT TRM HGH YLD 78468R408 25,654 828,629 SH   SOLE   57,864 0 770,765
SPDR SERIES TRUST BRC CNV SECS ETF 78464A359 15,370 304,354 SH   SOLE   19,303 0 285,051
SPDR SERIES TRUST BRCLY EM LOCL 78464A391 226 7,241 SH   SOLE   0 0 7,241
VANGUARD SCOTTSDALE FDS LG-TERM COR BD 92206C813 3,639 40,315 SH   SOLE   658 0 39,657
VANGUARD SCOTTSDALE FDS SHRT TERM CORP BD 92206C409 3,557 44,257 SH   SOLE   707 0 43,550