Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EWG	ISHARES MSCI GERMANY ETF ETP USD	1,257,892	$39.43M	16.6%	$31.83	—	COM	464286806
—	ISHARES INC ISHS MSCI UK IDX	1,533,991	$31.58M	13.3%	$20.88	—	COM	464286699
DXJ	WISDOMTREE TR JAPN HEDGE EQT	650,093	$30.77M	13.0%	$48.89	—	COM	97717W851
IXN	ISHARES GLOBAL TECH ETF ETP USD	251,305	$21.24M	9.0%	$82.04	—	COM	464287291
IWN	ISHARES RUSSELL 2000 VALUE ETF ETP USD	174,500	$17.6M	7.4%	$100.84	—	COM	464287630
XLP	SECTOR SPDR TRUST AMEX CONSUMER STAPLES INDEX	260,357	$11.21M	4.7%	$43.40	—	COM	81369Y308
XLI	INDUSTRIAL SELECT SECTOR SPDR FUND ETP USD	178,450	$9.338M	3.9%	$51.87	—	COM	81369Y704
EWP	ISHARES MSCI SPAIN CAPPED ETF ETP USD	214,697	$8.759M	3.7%	$37.82	—	COM	464286764
RXI	ISHARES GLOBAL CONSUMER DISCRETIONARY ETF ETP USD	94,700	$7.772M	3.3%	$84.08	—	COM	464288745
XLK	SECTOR SPDR TRUST AMEX TECHNOLOGY SELECT INDEX	202,377	$7.356M	3.1%	$35.92	—	COM	81369Y803
KIE	SPDR S&P INSURANCE ETF ETP USD	104,110	$6.45M	2.7%	$62.28	—	COM	78464A789
—	SPDR(R) Barclays High Yield Bond ETF	111,100	$4.59M	1.9%	$41.31	—	COM	78464A417
SPAB	SPDR(R) Barclays Aggregate Bond ETF	79,500	$4.54M	1.9%	$57.11	—	COM	78464A649
—	PowerShares Senior Loan Portfolio	182,300	$4.522M	1.9%	$24.81	—	COM	73936Q769
—	JPM PRIME MM FUND-CAPITAL SHS	3,640,770	$3.64M	1.5%	$1.00	—	CASH	481992JQ9
KRE	SPDR S&P REGIONAL BANKING ETF ETP USD	87,380	$3.615M	1.5%	$40.88	—	COM	78464A698
XLB	SELECT SECTOR SPDR FUND MATERIALS	75,062	$3.548M	1.5%	$44.23	—	COM	81369Y100
SCZ	Ishares MSCI EAFE Small Cap ETF	44,500	$2.322M	1.0%	$52.18	—	COM	464288273
—	iShares MSCI United Kingdom ETF	98,640	$2.03M	0.9%	$24.65	—	COM	46434V548
—	POWERSHARES S&P SC INDUSTRIA	39,650	$1.82M	0.8%	$45.70	—	COM	73937B878
—	POWERSHARES S&P SMALLCAP MATER	40,000	$1.8M	0.8%	$43.15	—	COM	73937B852
EMB	iShares J.P. Morgan USD Emerging Markets Bond ETF	13,900	$1.548M	0.7%	$111.37	—	COM	464288281
XLY	Consumer Discretionary Select Sector SPDR Fund	17,950	$1.161M	0.5%	$64.67	—	COM	81369Y407
EWQ	iShares MSCI France ETF	29,205	$852K	0.4%	$47.32	—	COM	464286707
XLV	Health Care Select Sector SPDR Fund	13,755	$804K	0.3%	$60.43	—	COM	81369Y209
—	Cash	758,058	$758K	0.3%	$7.75	—	Cash	USD
—	iShares MSCI Italy Capped ETF	40,790	$722K	0.3%	$35.17	—	COM	464286855
—	POWERSHARES S&P SMALLCAP FINAN	16,960	$670K	0.3%	$39.68	—	COM	73937B803
GXC	SPDR S&P China ETF	7,755	$563K	0.2%	$66.82	—	COM	78463X400
—	POWERSHARES S&P SC HEALTH CA	8,520	$461K	0.2%	$55.05	—	COM	73937B886
—	POWERSHARES S&P SC CONS-DISC	8,920	$430K	0.2%	$48.99	—	COM	73937B506
—	Powershares DWA Emerging Markets Technical Leaders Portfolio	23,570	$417K	0.2%	$28.48	—	COM	73936Q207
IGV	iShares North American Tech-Software ETF	5,085	$416K	0.2%	$83.21	—	COM	464287515
—	POWERSHARES S&P SC INFO TECH	8,930	$405K	0.2%	$44.46	—	COM	73937B860
PSX	Phillips 66	4,290	$330K	0.1%	$49.82	0.0%	COM	718546104
—	HollyFrontier Corporation	6,800	$323K	0.1%	$47.50	—	COM	436106108
MPC	Marathon Petroleum Corporation	3,695	$321K	0.1%	$30.73	0.0%	COM	56585A102
XLU	Utilities Select Sector SPDR Fund	7,690	$318K	0.1%	$41.35	—	COM	81369Y886
IYZ	iShares U.S. Telecommunications ETF	10,525	$315K	0.1%	$29.93	—	COM	464287713
—	SPDR S&P International Industrial Sector ETF	9,660	$307K	0.1%	$31.78	—	COM	78463X673
—	Market Vectors Oil Services ETF	5,450	$274K	0.1%	$32.90	—	COM	57060U191
—	WisdomTree Middle East Dividend Fund	11,890	$268K	0.1%	$22.54	—	COM	97717X305
EWW	iShares MSCI Mexico Capped ETF	4,010	$256K	0.1%	$63.84	—	COM	464286822
—	SPDR S&P International Materials Sector ETF	10,870	$253K	0.1%	$23.28	—	COM	78463X665
—	Market Vectors Poland ETF	9,560	$221K	0.1%	$37.76	—	COM	57060U571
EWA	iShares MSCI Australia ETF	8,440	$218K	0.1%	$24.37	—	COM	464286103
XHB	SPDR S&P Homebuilders ETF	6,685	$217K	0.1%	$73.44	—	COM	78464A888
EWY	iShares MSCI South Korea Capped ETF	2,020	$124K	0.1%	$41.75	—	COM	464286772
—	iShares MSCI Taiwan ETF	8,205	$118K	0.0%	$18.11	—	COM	464286731
—	SCE ACTIVE RESERVE 2 EQUITY	31,879	$31,000	0.0%	$0.99	—	CASH	996106860