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
Bank of America Corp COM 060505104 474 21,440 SH   SOLE   21,440 0 0
Bank of Hawaii Corp. COM 062540109 44 500 SH   SOLE   500 0 0
First Tr Nasdaq 100 Equal Weig ETF 337344105 266 5,765 SH   SOLE   5,765 0 0
Google Inc Class A COM 062540109 79 100 SH   SOLE   100 0 0
Google Inc Class C COM 38259P706 77 100 SH   SOLE   100 0 0
High Yield Muni Idx ETF ETF 57060U878 11,857 399,500 SH   SOLE   399,500 0 0
iShares Cohen & Steers Realty ETF 464287564 747 7,500 SH   SOLE   7,500 0 0
iShares Comex Gold Trust ETF 464285105 43 3,850 SH   SOLE   3,850 0 0
IShares Core S&P Total U.S. St ETF 464287150 180 3,500 SH   SOLE   3,500 0 0
iShares Dow Jone Real Estate ETF 464287739 8 100 SH   SOLE   100 0 0
iShares High Yield Corp Bond F ETF 464288513 734 8,475 SH   SOLE   8,475 0 0
iShares iBoxx Corporate Bond F ETF 464287242 6,474 55,250 SH   SOLE   55,250 0 0
iShares S&P Mid Cap 400 ETF 464287507 513 3,100 SH   SOLE   3,100 0 0
iShares S&P Municipal Bond Fun ETF 464288414 10,093 93,300 SH   SOLE   93,300 0 0
iShares S&P Small Cap 600 ETF 464287804 368 2,675 SH   SOLE   2,675 0 0
iShares S&P US Preferred Stock ETF 464288687 10,598 284,825 SH   SOLE   284,825 0 0
PowerShares High Yield Corpora ETF 73936T557 947 50,425 SH   SOLE   50,425 0 0
PowerShares QQQ ETF ETF 73935A104 385 3,250 SH   SOLE   3,250 0 0
Rydex S&P Equal Weight ETF ETF 78355W106 565 6,525 SH   SOLE   6,525 0 0
Spdr Barclays High Yield ETF ETF 78464A417 403 11,050 SH   SOLE   11,050 0 0
Spdr Doubleline Ttl Rtrn ETF 78467V848 12,039 248,800 SH   SOLE   248,800 0 0
SPDR S&P ETF Trust ETF 78462F103 693 3,100 SH   SOLE   3,100 0 0
Vanguard Inter. Corp Bond ETF ETF 92206C870 4,081 47,625 SH   SOLE   47,625 0 0