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
ISHARES TR SP SMCP600VL ETF 464287879 8,370 67,062 SH   SOLE   34,437 0 32,625
ISHARES TR SP SMCP600VL ETF 464287879 1,354 10,850 SH   OTR   0 0 10,850
ISHARES TR NATIONAL MUN ETF 464288414 16,822 149,194 SH   SOLE   44,213 0 104,981
ISHARES TR INTL SEL DIV ETF 464288448 20,766 692,661 SH   SOLE   342,077 0 350,584
ISHARES TR US HLTHCR PR ETF 464288828 2,367 19,089 SH   SOLE   7,991 0 11,098
ISHARES TR CORE MSCI EAFE 46432F842 11,102 201,346 SH   SOLE   99,620 0 101,726
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 970 20,314 SH   SOLE   9,710 0 10,604
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 2,123 29,435 SH   SOLE   13,904 0 15,531
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 3,601 67,679 SH   SOLE   28,568 0 39,111
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 454 23,521 SH   SOLE   0 0 23,521
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 3,002 51,429 SH   SOLE   23,765 0 27,664
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 1,465 30,655 SH   OTR   0 0 30,655
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 7,065 147,873 SH   SOLE   61,622 0 86,251
SPDR S&P 500 ETF TR TR UNIT 78462F103 4,694 21,700 SH   OTR   0 0 21,700
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 5,042 59,926 SH   SOLE   40,998 0 18,928
VANGUARD INTL EQUITY INDEX F TT WRLD ST ETF 922042742 8,297 136,357 SH   SOLE   0 0 136,357
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 16,523 439,083 SH   SOLE   0 0 439,083
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 3,266 67,026 SH   OTR   0 0 67,026
VANGUARD WHITEHALL FDS INC HIGH DIV YLD 921946406 24,950 345,850 SH   SOLE   156,937 0 188,913
VANGUARD WORLD FDS CONSUM DIS ETF 92204A108 1,370 10,893 SH   OTR   0 0 10,893
VANGUARD WORLD FDS CONSUM DIS ETF 92204A108 4,292 34,137 SH   SOLE   14,415 0 19,722
VANGUARD WORLD FDS ENERGY ETF 92204A306 2,430 24,879 SH   SOLE   11,960 0 12,919
VANGUARD WORLD FDS FINANCIALS ETF 92204A405 4,467 90,504 SH   SOLE   42,730 0 47,774
VANGUARD WORLD FDS HEALTH CAR ETF 92204A504 1,332 10,022 SH   OTR   0 0 10,022
VANGUARD WORLD FDS HEALTH CAR ETF 92204A504 306 2,302 SH   SOLE   0 0 2,302
VANGUARD WORLD FDS INDUSTRIAL ETF 92204A603 321 2,897 SH   SOLE   0 0 2,897
VANGUARD WORLD FDS UTILITIES ETF 92204A876 897 8,382 SH   SOLE   3,990 0 4,392
WISDOMTREE TR JAPN HEDGE EQT 97717W851 377 8,794 SH   SOLE   0 0 8,794
WISDOMTREE TR JAPN HEDGE EQT 97717W851 817 19,039 SH   OTR   0 0 19,039