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
DBX ETF TR DB XTR MSCI EUR 233051853 4,154 153,493 SH   SOLE   0 0 153,493
GLOBAL X FDS GLB X MLP ENRG I 37950E226 138 9,362 SH   SOLE   0 0 9,362
ISHARES MSCI BRIC INDX 464286657 3,055 84,115 SH   SOLE   0 0 84,115
ISHARES MSCI PAC JP ETF 464286665 538 12,039 SH   SOLE   0 0 12,039
ISHARES TR 1-3 YR CR BD ETF 464288646 3,050 28,980 SH   SOLE   0 0 28,980
ISHARES TR CORE MSCI EAFE 46432F842 3,833 66,150 SH   SOLE   0 0 66,150
ISHARES TR CORE MSCI EAFE 46432F842 4,309 74,365 SH   OTR   0 0 74,365
ISHARES TR GLOBAL ENERG ETF 464287341 184 5,528 SH   SOLE   0 0 5,528
ISHARES TR INTL SEL DIV ETF 464288448 2,771 88,069 SH   SOLE   0 0 88,069
ISHARES TR NATIONAL MUN ETF 464288414 529 4,858 SH   SOLE   0 0 4,858
ISHARES TR SHRT NAT MUN ETF 464288158 10,956 103,760 SH   SOLE   0 0 103,760
ISHARES TR SP SMCP600VL ETF 464287879 1,504 10,850 SH   OTR   0 0 10,850
ISHARES TR SP SMCP600VL ETF 464287879 702 5,064 SH   SOLE   0 0 5,064
ISHARES TR U.S. FINLS ETF 464287788 10 97 SH   SOLE   0 0 97
ISHARES TR US HLTHCARE ETF 464287762 5 34 SH   SOLE   0 0 34
ISHARES TR US HLTHCR PR ETF 464288828 1,534 11,441 SH   SOLE   0 0 11,441
ISHARES TR USA MOMENTUM FCT 46432F396 2,516 30,446 SH   SOLE   0 0 30,446
ISHARES TR USA VALUE FACTOR 46432F388 1,676 22,915 SH   SOLE   0 0 22,915
RYDEX ETF TRUST GUG S&P500 PU VA 78355W304 543 9,226 SH   SOLE   0 0 9,226
SELECT SECTOR SPDR TR RL EST SEL SEC 81369Y860 485 15,338 SH   SOLE   0 0 15,338
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 2,045 37,473 SH   SOLE   0 0 37,473
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 1,182 15,894 SH   SOLE   0 0 15,894
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369y506 271 3,880 SH   SOLE   0 0 3,880
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 682 28,758 SH   SOLE   0 0 28,758
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 837 12,864 SH   SOLE   0 0 12,864
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 88 1,717 SH   SOLE   0 0 1,717
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 1,663 31,730 SH   SOLE   0 0 31,730
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 1,634 30,655 SH   OTR   0 0 30,655
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 2,339 43,871 SH   SOLE   0 0 43,871
SPDR S&P 500 ETF TR TR UNIT 78462F103 5,116 21,700 SH   OTR   0 0 21,700
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 191 2,355 SH   SOLE   0 0 2,355
VANGUARD INDEX FDS MCAP VL IDXVIP 922908512 1,749 17,159 SH   SOLE   0 0 17,159
VANGUARD INDEX FDS REIT ETF 922908553 1,284 15,546 SH   SOLE   0 0 15,546
VANGUARD INDEX FDS TOTAL STK MKT 922908769 2,879 23,732 SH   SOLE   0 0 23,732
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 3,323 83,660 SH   SOLE   0 0 83,660
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 1,592 30,871 SH   SOLE   0 0 30,871
VANGUARD INTL EQUITY INDEX F TT WRLD ST ETF 922042742 4 60 SH   SOLE   0 0 60
VANGUARD WHITEHALL FDS INC HIGH DIV YLD 921946406 868 11,175 SH   SOLE   0 0 11,175
VANGUARD WORLD FDS CONSUM DIS ETF 92204A108 1,508 10,893 SH   OTR   0 0 10,893
VANGUARD WORLD FDS CONSUM DIS ETF 92204A108 2,124 15,342 SH   SOLE   0 0 15,342
VANGUARD WORLD FDS CONSUM STP ETF 92204A207 15 107 SH   SOLE   0 0 107
VANGUARD WORLD FDS ENERGY ETF 92204A306 1,523 15,750 SH   SOLE   0 0 15,750
VANGUARD WORLD FDS FINANCIALS ETF 92204A405 2,169 35,864 SH   SOLE   0 0 35,864
VANGUARD WORLD FDS HEALTH CAR ETF 92204A504 1,381 10,022 SH   OTR   0 0 10,022
VANGUARD WORLD FDS HEALTH CAR ETF 92204A504 370 2,684 SH   SOLE   0 0 2,684
VANGUARD WORLD FDS INDUSTRIAL ETF 92204A603 191 1,540 SH   SOLE   0 0 1,540
VANGUARD WORLD FDS INF TECH ETF 92204A702 15 113 SH   SOLE   0 0 113
VANGUARD WORLD FDS MATERIALS ETF 92204A801 379 3,185 SH   SOLE   0 0 3,185
VANGUARD WORLD FDS TELCOMM ETF 92204A884 1,760 18,550 SH   SOLE   0 0 18,550
VANGUARD WORLD FDS UTILITIES ETF 92204A876 1,972 17,507 SH   SOLE   0 0 17,507
WISDOMTREE TR JAPN HEDGE EQT 97717W851 3,089 61,017 SH   SOLE   0 0 61,017