Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EWC	ISHARES MSCI CANADA ETF ETP USD	992,487	$30.47M	12.6%	$31.07	—	COM	464286509
—	ISHARES MSCI JAPAN ETF ETP USD	1,501,213	$17.67M	7.3%	$11.97	—	COM	464286848
EWG	ISHARES MSCI GERMANY ETF ETP USD	575,372	$15.94M	6.6%	$31.83	—	COM	464286806
DXJ	WISDOMTREE TR JAPN HEDGE EQT	278,283	$14.56M	6.0%	$48.89	—	COM	97717W851
JXI	ISHARES GLOBAL UTILITIES ETF ETP USD	286,340	$13.67M	5.6%	$47.74	—	COM	464288711
—	SPDR MSCI EUROPE HEALTH CARESM UCITS ETF ETP EUR	87,790	$12.93M	5.3%	$146.89	—	COM	7224698
IHF	ISHARES U.S. HEALTHCARE PROVIDERS ETF ETP USD	119,830	$12.8M	5.3%	$102.82	—	COM	464288828
IHI	ISHARES U.S. MEDICAL DEVICES ETF ETP USD	118,750	$11.8M	4.9%	$99.39	—	COM	464288810
XLP	SECTOR SPDR TRUST AMEX CONSUMER STAPLES INDEX	260,357	$11.74M	4.9%	$43.40	—	COM	81369Y308
KRE	SPDR S&P REGIONAL BANKING ETF ETP USD	225,360	$8.532M	3.5%	$39.03	—	COM	78464A698
EWP	ISHARES MSCI SPAIN CAPPED ETF ETP USD	218,217	$8.488M	3.5%	$38.01	—	COM	464286764
CARZ	FIRST TRUST NASDAQ GLOBAL AUTO INDEX FUND ETP USD	214,055	$8.084M	3.3%	$37.77	—	COM	33734X309
—	MARKET VECTORS OIL SERVICE ETF ETP USD	158,750	$7.874M	3.3%	$56.96	—	COM	57060U191
EWD	ISHARES MSCI SWEDEN ETF ETP USD	208,820	$6.909M	2.9%	$35.29	—	COM	464286756
XLK	SECTOR SPDR TRUST AMEX TECHNOLOGY SELECT INDEX	160,567	$6.407M	2.6%	$35.92	—	COM	81369Y803
KIE	SPDR S&P INSURANCE ETF ETP USD	95,880	$6.04M	2.5%	$63.00	—	COM	78464A789
FRI	FIRST TRUST S&P REIT INDEX FUND ETP USD	284,890	$5.6M	2.3%	$19.66	—	COM	33734G108
—	JPM PRIME MM FUND-CAPITAL SHS	4,941,611	$4.941M	2.0%	$1.00	—	CASH	481992JQ9
—	DB X-TRACKERS MSCI EMERGING MARKETS INFORMATION	1,361,675	$4.074M	1.7%	$3.25	—	COM	B4WW7Y4
—	MFC ISHARES TR MSCI UTD KINGDOM ETF	168,234	$3.26M	1.3%	$21.59	—	COM	46434V548
—	GLOBAL X FTSE GREECE 20 ETF ETP USD	123,950	$2.303M	1.0%	$22.50	—	COM	37950E366
SCZ	iShares MSCI EAFE Small-Cap ETF	44,500	$2.158M	0.9%	$52.18	—	COM	464288273
—	United States dollar	2,151,080	$2.15M	0.9%	$3.38	—	CASH	USD
IGV	ISHARES NORTH AMERICAN TECH-	20,910	$1.808M	0.7%	$85.79	—	COM	464287515
—	POWERSHARES S&P SC HEALTH CA	30,760	$1.694M	0.7%	$55.83	—	COM	73937B886
SPAB	SPD(R) Barclays Aggregate Bond ETF	27,550	$1.589M	0.7%	$57.11	—	COM	78464A649
—	SPD(R) Barclays High Yield Bond ETF	38,500	$1.546M	0.6%	$41.31	—	COM	78464A417
—	PowerShares Senior Loan Portfolio	63,150	$1.533M	0.6%	$24.81	—	COM	73936Q769
IXN	iShares Global Tech ETF	15,845	$1.449M	0.6%	$82.04	—	COM	464287291
—	MFC ISHARES INC MSCI TAIWAN ETF MSCI TAIWAN ETF	73,095	$1.115M	0.5%	$15.57	—	COM	464286731
XLI	Industrial Select Sector SPDR Fund	20,870	$1.109M	0.5%	$51.87	—	COM	81369Y704
RXI	MFC ISHARES TR GLOBAL CONSUMER DISCRETIONARY ETF	13,559	$1.094M	0.5%	$82.50	—	COM	464288745
XSD	SPDR S&P SEMICONDUCTOR ETF	13,200	$969K	0.4%	$73.41	—	COM	78464A862
—	POWERSHARES S&P SC INDUSTRIA	21,000	$878K	0.4%	$45.70	—	COM	73937B878
IWO	ISHARES RUSSELL 2000 GROWTH ET	5,460	$708K	0.3%	$129.67	—	COM	464287648
IXC	iShares Global Energy ETF	16,090	$705K	0.3%	$43.82	—	COM	464287341
—	STATE STREET BQE SPDR MSCI CO.DI EUR	5,831	$634K	0.3%	$108.73	—	COM	7561209
EMB	iShares J.P. Morgan USD Emerging Markets Bond ETF	4,820	$543K	0.2%	$111.37	—	COM	464288281
XLE	Energy Select Sector SPDR Fund	5,020	$454K	0.2%	$100.00	—	COM	81369Y506
—	POWERSHARES S&P SC UTILITIES	13,300	$451K	0.2%	$33.91	—	COM	73937B837
—	Powershares DWA Emerging Markets Technical Leaders Portfolio	23,570	$440K	0.2%	$28.48	—	COM	73936Q207
—	iShares MSCI Italy Capped ETF	27,940	$438K	0.2%	$35.17	—	COM	464286855
—	POWERSHARES S&P SMALLCAP ENERG	9,840	$426K	0.2%	$51.08	—	COM	73937B704
EWQ	iShares MSCI France ETF	14,575	$386K	0.2%	$47.32	—	COM	464286707
IAT	MFC ISHARES TR US REGIONAL BANKS INDEX FD ETF	10,048	$332K	0.1%	$33.04	—	COM	464288778
XLU	Utilities Select Sector SPDR Fund	7,690	$323K	0.1%	$41.35	—	COM	81369Y886
IYZ	iShares U.S. Telecommunications ETF	10,525	$315K	0.1%	$29.93	—	COM	464287713
XLV	Health Care Select Sector SPDR Fund	4,615	$294K	0.1%	$60.43	—	COM	81369Y209
—	WisdomTree Middle East Dividend Fund	11,890	$287K	0.1%	$22.54	—	COM	97717X305
XLB	Materials Select Sector SPDR Fund	5,730	$284K	0.1%	$44.23	—	COM	81369Y100
EWW	iShares MSCI Mexico Capped ETF	4,010	$275K	0.1%	$63.84	—	COM	464286822
—	SPDR S&P International Materials Sector ETF	10,870	$234K	0.1%	$23.28	—	COM	78463X665
XLY	Consumer Discretionary Select Sector SPDR Fund	3,190	$212K	0.1%	$64.67	—	COM	81369Y407
—	Market Vectors Poland ETF	9,560	$207K	0.1%	$37.76	—	COM	57060U571
EWA	iShares MSCI Australia ETF	8,440	$202K	0.1%	$24.37	—	COM	464286103
—	SCE ACTIVE RESERVE 2 EQUITY	196,645	$196K	0.1%	$0.99	—	CASH	996106860
IWM	iShares Russell 2000 ETF	1,430	$156K	0.1%	$118.18	—	COM	464287655
—	WisdomTree Emerging Markets Consumer Growth Fund	3,820	$95,000	0.0%	$24.87	—	COM	97717W539
EWH	iShares MSCI Hong Kong ETF	4,530	$92,000	0.0%	$20.31	—	COM	464286871
INDA	iShares MSCI India ETF	1,990	$60,000	0.0%	$30.15	—	COM	46429B598