Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	Japan ETF - iShares	4,030,363	$48.92M	11.0%	$11.26	—	COM	464286848
IVV	S&P500 ETF - iShares	249,020	$46.23M	10.4%	$162.72	—	COM	464287200
—	China ETF - iShares	632,214	$30.48M	6.9%	$45.80	—	COM	46429b671
EWG	Germany ETF - iShares	850,233	$27M	6.1%	$24.77	—	COM	464286806
SPY	S&P500 Index ETF - SPDR	140,919	$26.03M	5.9%	$160.52	—	COM	78462F103
—	Russia ETF - iShares	1,029,056	$22.54M	5.1%	$21.46	—	COM	46429B705
EWY	Korea ETF - iShares	249,355	$16.13M	3.6%	$58.58	—	COM	464286772
—	Global Long Short ETF - Adviso	675,841	$14.99M	3.4%	$22.06	—	COM	00768Y404
—	Barclays High Yield ETF - SPDR	351,180	$14.24M	3.2%	$40.56	—	COM	78464A417
ACWI	All Country World Index ETF -	242,001	$13.94M	3.1%	$50.95	—	COM	464288257
XLY	Consumer Discretionary ETF - S	203,125	$13.57M	3.1%	$59.63	—	COM	81369Y407
—	Peritus High Yield ETF - Advis	221,774	$11.47M	2.6%	$51.65	—	COM	00768Y503
IWM	Russell 2000 ETF - iShares	97,520	$11.25M	2.5%	$115.36	—	COM	464287655
IGSB	Barclays 1-3 Yr Credit Bond ET	103,520	$10.92M	2.5%	$105.14	—	COM	464288646
LQD	Corporate Bond Fund ETF - iSha	92,547	$10.57M	2.4%	$113.62	—	COM	464287242
—	Norway ETF - Global X	587,094	$9.789M	2.2%	$16.37	—	COM	37950E747
—	S&P 500 Buy Write ETF - Powers	471,480	$9.783M	2.2%	$20.75	—	COM	73936G308
—	United Kingdom ETF - iShares	466,001	$9.73M	2.2%	$17.66	—	COM	464286699
—	Energy and Exploration ETF - P	277,315	$9.553M	2.2%	$34.45	—	COM	73935x658
—	Info Tech ETF - Vanguard	90,080	$8.066M	1.8%	$89.54	—	COM	92204a702
CHIQ	Consumer China ETF - Global X	390,215	$6.161M	1.4%	$13.48	—	COM	37950E408
EWN	Netherlands ETF - iShares	211,317	$5.479M	1.2%	$25.19	—	COM	464286814
MUB	S&P Muni Bond ETF - iShares	50,105	$5.198M	1.2%	$103.74	—	COM	464288414
—	Senior Loan ETF - Powershares	181,235	$4.509M	1.0%	$24.88	—	COM	73936q769
—	Taiwan ETF - iShares	308,340	$4.446M	1.0%	$13.92	—	COM	464286731
—	QQQ Trust ETF - Powershares	50,430	$4.436M	1.0%	$87.96	—	COM	73935A104
EWO	Austria ETF - iShares	206,697	$4.095M	0.9%	$18.59	—	COM	464286202
—	Currency Harvest ETF - Powersh	154,120	$3.918M	0.9%	$25.42	—	COM	73935y102
—	Australian Dollar ETF - Curren	43,310	$3.873M	0.9%	$89.43	—	COM	23129U101
—	Long Term Corporate Bond ETF	37,320	$3.097M	0.7%	$82.62	—	COM	92206c813
—	MSCI ACWI ETF - SPDR (London)	30,261	$2.833M	0.6%	$87.24	—	COM	IE00B44Z5
—	Aggregate Bond Fund ETF - iSha	27,186	$2.72M	0.6%	$99.91	—	COM	IE00B44CG
QAI	Multi-Strategy Tracker ETF - I	74,055	$2.145M	0.5%	$27.74	—	COM	45409B107
EWD	Sweden ETF - iShares	58,555	$2.098M	0.5%	$35.83	—	COM	464286756
—	Tesoro Corp	28,495	$1.667M	0.4%	$55.69	—	COM	881609101
—	US Natural Gas ETF - ALPS	69,850	$1.445M	0.3%	$20.69	—	COM	912318201
EWH	Hong Kong ETF - iShares	69,985	$1.442M	0.3%	$20.03	—	COM	464286871
IEF	Barclays 7-10 Year Treasury ET	13,880	$1.377M	0.3%	$102.50	—	COM	464287440
AAPL	Apple Inc	2,410	$1.352M	0.3%	$13.16	+24.4%	COM	037833100
—	Japan ETF - First Trust	22,450	$1.048M	0.2%	$41.68	—	COM	33737j158
IGIB	Intermediate Term Credit US ET	9,510	$1.026M	0.2%	$107.72	—	COM	464288638
—	China ETF - First Trust	42,330	$991K	0.2%	$22.14	—	COM	33737j141
—	El Dorado Gold Corp Ltd New	160,230	$912K	0.2%	$6.20	—	COM	284902103
—	Goldcorp Inc New	41,505	$899K	0.2%	$24.73	—	COM	380956409
—	Malaysia ETF - iShares	53,102	$840K	0.2%	$15.82	—	COM	464286830
—	Germany ETF - First Trust	18,080	$762K	0.2%	$32.56	—	COM	33737j190
BKF	MSCI BRIC ETF - iShares	18,855	$711K	0.2%	$37.71	—	COM	464286657
BAC	Bank of America Corp	44,000	$685K	0.2%	$10.03	+16.5%	COM	060505104
ACWX	ACWI ex US ETF - iShares	13,960	$652K	0.1%	$46.70	—	COM	464288240
XLK	Technology Select Sector ETF -	17,650	$631K	0.1%	$35.75	—	COM	81369Y803
WTMF	Managed Futures ETF - Wisdomtr	11,637	$483K	0.1%	$41.57	—	COM	97717W125
—	Korea ETF - First Trust	16,330	$461K	0.1%	$28.23	—	COM	33737j166
—	Japan Hedged Equity ETF - Wisd	8,300	$422K	0.1%	$50.84	—	COM	97717w851
—	Superior Energy Services Inc	15,295	$407K	0.1%	$25.77	—	COM	868157108
—	Merger Arb ETF - Credit Suisse	18,740	$395K	0.1%	$20.51	—	COM	22542D845
CLH	Clean Harbors Inc	6,500	$390K	0.1%	$57.66	0.0%	COM	184496107
—	Macro Tracker ETF - Index IQ	14,820	$389K	0.1%	$25.72	—	COM	45409b206
—	Gold Miners ETF - Market Vecto	18,375	$388K	0.1%	$24.49	—	COM	57060U100
C	Citigroup Inc	7,400	$386K	0.1%	$37.66	0.0%	COM	172967424
—	Quanta Services Inc	11,500	$363K	0.1%	$31.57	—	COM	74762e102
PEP	Pepsico Inc	4,250	$352K	0.1%	$57.75	0.0%	COM	713448108
—	American Tower Corp-Class A	4,300	$343K	0.1%	$74.19	—	COM	03027x100
XOM	Exxon Mobil Corp	3,225	$326K	0.1%	$53.69	+4.2%	COM	30231G102
SHY	Barclays 1-3 year Treasury ETF	3,739	$315K	0.1%	$84.34	—	COM	464287457
—	Activision Inc.	16,000	$285K	0.1%	$17.81	—	COM	00507v109
—	RAFI Long/Short ETF - ProShare	6,420	$273K	0.1%	$41.69	—	COM	74347x310
OC	Owens Corning	6,520	$265K	0.1%	$37.93	0.0%	COM	690742101
—	Catamaran Corp	5,500	$261K	0.1%	$47.45	—	COM	148887102
—	Hovnanian Enterprises Inc.	27,450	$182K	0.0%	$5.61	—	COM	442487203