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
CONSUMER DISCRETIONARY SPDR (ETF) ETF 81369Y407 7,421 114,645 SH   SOLE 1 0 113,768 877
CONSUMER STAPLES SELECT SECT. SPDR (ETF) ETF 81369Y308 693 16,073 SH   SOLE 0 15,978 95
FINANCIAL SELECT SECTOR SPDR (ETF) ETF 81369Y605 582 25,956 SH   SOLE 0 19,435 6,521
HEALTH CARE SPDR (ETF) ETF 81369Y209 9,619 164,403 SH   SOLE 1 0 160,668 3,735
INDUSTRIAL SPDR (ETF) ETF 81369Y704 285 5,463 SH   SOLE 0 4,078 1,385
ISHARES DOW JONES US HEALTHCARE (ETF) ETF 464287762 1,447 11,785 SH   SOLE 0 11,720 65
ISHARES IBOXX $ HIGH YID CORP BOND (ETF) ETF 464288513 280 2,958 SH   SOLE 0 2,205 753
ISHARES MSCI AUSTRALIA INDEX FUND (ETF) ETF 464286103 4,588 177,386 SH   SOLE 1 0 173,279 4,107
ISHARES MSCI EAFE INDEX FUND (ETF) ETF 464287465 584 8,654 SH   SOLE 0 6,418 2,236
ISHARES RUSSELL 2000 VALUE INDEX (ETF) ETF 464287630 583 5,770 SH   SOLE 0 4,283 1,487
ISHARES RUSSELL MIDCAP VALUE INDEX (ETF) ETF 464287473 8,571 124,734 SH   SOLE 1 0 121,640 3,094
ISHARES S&P MIDCAP 400 INDEX (ETF) ETF 464287507 4,351 31,655 SH   SOLE 1 0 31,413 242
MATERIALS SPDR (ETF) ETF 81369Y100 575 12,191 SH   SOLE 0 9,109 3,082
POWERSHARES DB AGRICULTURE FUND ETF 73936B408 745 26,170 SH   SOLE 0 26,015 155
POWERSHARES PREFERRED PORTFOLIO(ETF) ETF 73936T565 4,944 346,925 SH   SOLE 1 0 344,350 2,575
POWERSHARES QQQ TRUST, SERIES 1 (ETF) ETF 73935A104 8,994 102,598 SH   SOLE 1 0 99,923 2,675
REVENUESHARES LARGE CAP FUND (ETF) ETF 761396100 1,299 35,125 SH   SOLE 0 34,931 194
SPDR DJ GLOBAL TITANS (ETF) ETF 78464A706 733 10,562 SH   SOLE 0 10,496 66
SPDR S&P 500 ETF ETF 78462F103 2,585 13,822 SH   SOLE 1 0 13,714 108
SPDR S&P INTERNATIONAL DIVIDEND (ETF) ETF 78463X772 1,378 28,383 SH   SOLE 0 28,228 155
SPDR S&P MIDCAP 400 ETF ETF 78467Y107 8,432 33,634 SH   SOLE 1 0 32,797 837
UTILITIES SPDR (ETF) ETF 81369Y886 1,296 31,306 SH   SOLE 0 27,645 3,661
VANGUARD DIVIDEND APPRECIATION ETF ETF 921908844 1,405 18,647 SH   SOLE 0 18,530 117
VANGUARD EUROPEAN ETF ETF 922042874 4,241 71,926 SH   SOLE 1 0 71,377 549
VANGUARD REIT ETF ETF 922908553 558 7,922 SH   SOLE 1 0 5,914 2,008