Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EPI	SPDR EURO STOXX 50 ETF	615,501	$24.18M	6.1%	$34.66	—	COM	97717W422
EWZ	iShares U.S. Medical Devices ETF	140,136	$23.57M	5.9%	$83.19	—	COM	464286400
EWT	iShares MSCI Europe Financials ETF	347,041	$23.14M	5.8%	$43.73	—	COM	46434G772
—	iShares MSCI Canada ETF	806,397	$22.12M	5.5%	$31.32	—	COM	78463X681
EWA	PowerShares International BuyBack Achievers Portfolio	561,563	$18.35M	4.6%	$22.89	—	COM	464286103
—	WisdomTree Japan Hedged Financials Fund	663,341	$15.99M	4.0%	$26.73	—	COM	F24539102
—	PowerShares KBW Bank Portfolio	317,315	$15.73M	3.9%	$37.11	—	COM	46434G798
EWJ	iShares MSCI Japan ETF	280,909	$15.04M	3.8%	$51.89	—	COM	46434G822
—	WisdomTree Emerging Markets High Dividend Fund	347,030	$14.69M	3.7%	$44.62	—	COM	N0280E105
KRE	iShares Currency Hedged MSCI Germany ETF	438,157	$12.8M	3.2%	$38.27	—	COM	78464A698
VOX	Dassault Aviation SA	103,094	$12.32M	3.1%	$112.64	—	COM	92204A884
IYW	iShares MSCI Australia ETF	511,822	$11.35M	2.8%	$50.41	—	COM	464287721
—	Thales SA	194,092	$10.63M	2.7%	$45.95	—	COM	18383Q135
—	SPDR S&P Regional Banking ETF	186,133	$10.25M	2.6%	$24.82	—	COM	97717W356
EWZS	iShares U.S. Healthcare Providers ETF	63,679	$9.511M	2.4%	$13.63	—	COM	464289131
SUPV	SPDR S&P International Energy Sector ETF	494,038	$8.732M	2.2%	$9.87	—	COM	40054A108
—	SPDR S&P International Health Care Sector ETF	169,324	$8.469M	2.1%	$24.51	—	COM	97717W463
FEZ	iShares MSCI Taiwan Capped ETF	228,868	$8.354M	2.1%	$36.34	—	COM	78463X202
VDC	Energy Select Sector SPDR Fund	118,194	$8.282M	2.1%	$73.33	—	COM	92204A207
XLI	Industrial Select Sector SPDR Fund	117,970	$8.185M	2.0%	$69.38	—	COM	81369Y704
AGRO	SPDR S&P International Materials Sector ETF	309,809	$7.711M	1.9%	$9.71	+0.2%	COM	L00849106
EWU	iShares MSCI United Kingdom ETF	212,835	$7.186M	1.8%	$33.76	—	COM	46435G334
—	iShares Global Energy ETF	227,333	$7.128M	1.8%	$47.93	—	COM	73937B746
—	Guggenheim China Technology ETF	116,778	$6.429M	1.6%	$16.97	—	COM	37950E689
EIS	SPDR S&P Insurance ETF	66,016	$5.901M	1.5%	$51.23	—	COM	464286632
—	iShares MSCI South Africa ETF	97,946	$5.844M	1.5%	$37.14	—	COM	464288471
EWY	iShares MSCI South Korea Capped ETF	82,034	$5.739M	1.4%	$69.96	—	COM	464286772
EWC	Materials Select Sector SPDR Fund	99,271	$5.495M	1.4%	$26.87	—	COM	464286509
—	iShares MSCI Spain Capped ETF	160,526	$5.371M	1.3%	$24.79	—	COM	46434V704
EWP	Leonardo SpA	201,322	$4.769M	1.2%	$26.40	—	COM	464286764
XLU	Utilities Select Sector SPDR Fund	83,400	$4.349M	1.1%	$51.42	—	COM	81369Y886
MCHI	iShares MSCI China ETF	75,510	$4.33M	1.1%	$57.34	—	COM	46429B671
KIE	iShares Europe Developed Real Estate ETF	113,218	$4.266M	1.1%	$60.51	—	COM	78464A789
THLEF	SPDR S&P International Telecommunications Sector ETF	148,544	$3.752M	0.9%	$104.06	+1.1%	COM	F9156M108
VIG	Vanguard Dividend Appreciation ETF	40,013	$3.737M	0.9%	$93.39	—	COM	921908844
IXC	iShares MSCI Brazil Small-Cap ETF	238,696	$3.379M	0.8%	$31.09	—	COM	464287341
SPTI	SPDR Barclays Intermediate Term Treasury ETF	56,266	$3.368M	0.8%	$61.64	—	COM	78464A672
XLE	Airbus SE	37,039	$3.126M	0.8%	$68.23	—	COM	81369Y506
IHF	iShares MSCI Russia Capped ETF	98,303	$2.956M	0.7%	$91.35	—	COM	464288828
XLB	BAE Systems plc	337,581	$2.702M	0.7%	$21.49	—	COM	81369Y100
IHI	iShares U.S. Medical Devices ETF	17,602	$2.506M	0.6%	$142.94	—	COM	464288810
—	iShares Currency Hedged MSCI Spain ETF	100,575	$2.354M	0.6%	$20.39	—	COM	46435G813
SPAB	SPDR Barclays Aggregate Bond ETF	39,191	$2.238M	0.6%	$59.40	—	COM	78464A649
—	PowerShares S&P SmallCap Information Technology Portfolio	23,093	$1.778M	0.4%	$63.45	—	COM	73937B860
—	SPDR S&P International Industrial Sector ETF	42,618	$1.48M	0.4%	$30.27	—	COM	78463X673
XLP	Consumer Staples Select Sector SPDR Fund	24,185	$1.324M	0.3%	$49.90	—	COM	81369Y308
—	PowerShares S&P SmallCap Consumer Discretionary Portfolio	24,190	$1.31M	0.3%	$47.76	—	COM	73937B506
—	PowerShares S&P SmallCap Health Care Portfolio	14,516	$1.275M	0.3%	$67.02	—	COM	73937B886
—	PowerShares S&P SmallCap Materials Portfolio	24,864	$1.184M	0.3%	$46.94	—	COM	73937B852
—	Global X MSCI Nigeria ETF	50,000	$963K	0.2%	$19.26	—	COM	37954Y665
—	SPDR S&P International Industrial Sector ETF	23,329	$810K	0.2%	$27.30	—	COM	73937B621
—	PowerShares S&P SmallCap Industrials Portfolio	13,571	$776K	0.2%	$55.78	—	COM	73937B878
KXI	iShares Global Consumer Staples ETF	5,205	$534K	0.1%	$102.59	—	COM	464288737
—	Columbia Emerging Markets Consumer ETF	17,052	$461K	0.1%	$1.11	—	COM	P7873P114
—	PowerShares S&P SmallCap Consumer Staples Portfolio	5,827	$386K	0.1%	$68.38	—	COM	73937B605
—	SPDR MSCI Europe Health Care UCITS ETF	2,389	$349K	0.1%	$1.99	—	COM	P3311R127
RXI	SPDR EURO STOXX Small Cap ETF	5,219	$306K	0.1%	$86.95	—	COM	464288745
—	PowerShares S&P SmallCap Energy Portfolio	22,344	$298K	0.1%	$18.13	—	COM	73937B704