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
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 1,247,537 27,809,566 SH   SOLE   27,809,566 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 1,104,898 24,066,608 SH   SOLE   24,066,608 0 0
VANGUARD INDEX FDS TOTAL STK MKT 922908769 517,883 3,773,284 SH   SOLE   3,773,284 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 515,352 5,897,145 SH   SOLE   5,897,145 0 0
ISHARES TR TIPS BD ETF 464287176 475,648 4,169,421 SH   SOLE   4,169,421 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 374,582 2,404,867 SH   SOLE   2,404,867 0 0
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 334,173 4,096,766 SH   SOLE   4,096,766 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 325,725 1,220,584 SH   SOLE   1,220,584 0 0
ISHARES TR IBOXX INV CP ETF 464287242 288,414 2,372,604 SH   SOLE   2,372,604 0 0
PIMCO ETF TR ENHAN SHRT MA AC 72201R833 251,468 2,476,055 SH   SOLE   2,476,055 0 0
POWERSHARES ETF TR II S&P500 LOW VOL 73937B779 230,149 4,820,887 SH   SOLE   4,820,887 0 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 212,887 3,599,110 SH   SOLE   3,599,110 0 0
ISHARES INC MSCI JPN ETF NEW 46434G822 202,612 3,380,815 SH   SOLE   3,380,815 0 0
ISHARES TR CUR HED MSCI GER 46434V704 200,602 6,992,048 SH   SOLE   6,992,048 0 0
ISHARES TR JPMORGAN USD EMG 464288281 199,878 1,721,605 SH   SOLE   1,721,605 0 0
VANGUARD SPECIALIZED PORTFOL DIV APP ETF 921908844 191,728 1,879,129 SH   SOLE   1,879,129 0 0
ISHARES GOLD TRUST ISHARES 464285105 181,311 14,493,283 SH   SOLE   14,493,283 0 0
ISHARES TR MIN VOL EAFE ETF 46429B689 157,511 2,158,276 SH   SOLE   2,158,276 0 0
ISHARES U S ETF TR COMMOD SEL STG 46431W853 148,998 4,100,112 SH   SOLE   4,100,112 0 0
ISHARES TR 20 YR TR BD ETF 464287432 146,040 1,151,192 SH   SOLE   1,151,192 0 0
ISHARES TR BARCLAYS 7 10YR 464287440 129,054 1,222,446 SH   SOLE   1,222,446 0 0
ISHARES TR IBOXX HI YD ETF 464288513 122,885 1,408,260 SH   SOLE   1,408,260 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 110,978 727,917 SH   SOLE   727,917 0 0
POWERSHARES ETF TR II VAR RATE PFD POR 73937B597 98,558 3,840,913 SH   SOLE   3,840,913 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 92,237 1,115,585 SH   SOLE   1,115,585 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 41,764 1,496,369 SH   SOLE   1,496,369 0 0