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
EGA EMERGING GLOBAL SHS TR EGS EMKTCONS ETF 268461779 962 41,430 SH   OTR   41,430 0 0
ISHARES MSCI FRANCE ETF 464286707 2,200 96,211 SH   OTR   96,211 0 0
ISHARES MSCI SPAN CP ETF 464286764 1,915 76,672 SH   OTR   76,672 0 0
ISHARES MSCI SWEDEN ETF 464286756 2,204 80,586 SH   OTR   80,586 0 0
ISHARES MSCI CDA ETF 464286509 1,198 48,884 SH   OTR   48,884 0 0
ISHARES MSCI MEX CAP ETF 464286822 2,135 42,393 SH   OTR   42,393 0 0
ISHARES MSCI SZ CAP ETF 464286749 5,203 175,475 SH   OTR   175,475 0 0
ISHARES MSCI STH KOR ETF 464286772 1,083 20,793 SH   OTR   20,793 0 0
ISHARES MSCI AUST ETF 464286103 3,529 181,453 SH   OTR   181,453 0 0
ISHARES MSCI JAPAN ETF 464286848 9,541 829,648 SH   OTR   829,648 0 0
ISHARES MSCI ITALCPD ETF 464286855 1,786 164,620 SH   OTR   164,620 0 0
ISHARES TR MSCI INDIA ETF 46429B598 2,174 77,853 SH   OTR   77,853 0 0
ISHARES TR US OIL EQ&SV ETF 464288844 1,208 31,294 SH   OTR   31,294 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 36 313 SH   OTR   313 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 372 10,863 SH   OTR   10,863 0 0
ISHARES TR EUROPE ETF 464287861 2,541 67,243 SH   OTR   67,243 0 0
ISHARES TR MSCI UTD KNGDM 46434V548 3,914 254,662 SH   OTR   254,662 0 0
ISHARES TR MSCI AC ASIA ETF 464288182 3,937 72,001 SH   OTR   72,001 0 0
OPKO HEALTH INC COM 68375N103 1,090 117,943 SH   OTR   117,943 0 0
ORMAT TECHNOLOGIES INC COM 686688102 3,126 72,116 SH   OTR   72,116 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 1,502 13,966 SH   OTR   13,966 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 5,174 72,151 SH   OTR   72,151 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 2,325 42,159 SH   OTR   42,159 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 3,369 77,685 SH   OTR   77,685 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 9,729 425,692 SH   OTR   425,692 0 0
SPDR DOW JONES INDL AVRG ETF UT SER 1 78467X109 83 461 SH   OTR   461 0 0
SPDR INDEX SHS FDS S&P CHINA ETF 78463X400 3,779 54,066 SH   OTR   54,066 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 259 1,236 SH   OTR   1,236 0 0
SPDR SERIES TRUST S&P PHARMAC 78464A722 1,731 41,414 SH   OTR   41,414 0 0
SPDR SERIES TRUST S&P BK ETF 78464A797 4,386 143,905 SH   OTR   143,905 0 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 11,205 240,138 SH   OTR   240,138 0 0
WISDOMTREE TR JAPN HEDGE EQT 97717W851 8,419 217,086 SH   OTR   217,086 0 0
WISDOMTREE TR EUROPE HEDGED EQ 97717X701 2,153 42,613 SH   OTR   42,613 0 0