Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
IVV	S&P500 ETF - iShares	274,483	$54.42M	17.9%	$171.18	—	COM	464287200
—	Japan Hedged Equity ETF - Wisd	375,782	$19.66M	6.5%	$51.00	—	COM	97717w851
—	China ETF - iShares	374,246	$17.73M	5.8%	$45.79	—	COM	46429b671
—	Norway ETF - Global X	940,687	$15.42M	5.1%	$17.51	—	COM	37950E747
EWD	Sweden ETF - iShares	430,822	$14.26M	4.7%	$33.62	—	COM	464286756
—	US FEX Equity Large Cap ETF -	302,820	$13.18M	4.3%	$43.47	—	COM	33734k109
TUR	Turkey ETF - iShares	259,861	$12.75M	4.2%	$53.81	—	COM	464286715
ACWI	All Country World Index ETF -	208,696	$12.29M	4.0%	$50.95	—	COM	464288257
—	QQQ Trust ETF - Powershares	101,975	$10.07M	3.3%	$98.79	—	COM	73935A104
IXC	Global Energy ETF - iShares	224,850	$9.857M	3.2%	$47.69	—	COM	464287341
—	Convertible Bond Fund ETF- SPD	196,410	$9.752M	3.2%	$49.65	—	COM	78464a359
EWZ	Brazil ETF - iShares	222,688	$9.676M	3.2%	$43.45	—	COM	464286400
EWW	Mexico ETF - iShares	140,018	$9.623M	3.2%	$68.73	—	COM	464286822
—	KBW Bank ETFs - Powershares	213,200	$7.841M	2.6%	$36.62	—	COM	73937B746
QAI	Multi-Strategy Tracker ETF - I	246,415	$7.311M	2.4%	$29.08	—	COM	45409B107
—	Global Long Short ETF - Adviso	354,181	$7.19M	2.4%	$21.99	—	COM	00768Y404
—	United Kingdom ETF - First Tru	150,468	$5.858M	1.9%	$38.93	—	COM	33737j224
FXH	Health Care AlphaDEX ETF - Fir	101,520	$5.664M	1.9%	$55.79	—	COM	33734X143
—	Taiwan ETF - iShares	316,016	$4.826M	1.6%	$15.57	—	COM	464286731
—	United Kingdom ETF - iShares	196,841	$3.815M	1.3%	$17.72	—	COM	464286699
—	US Dollar Bullish ETF - Powers	165,425	$3.783M	1.2%	$21.45	—	COM	73936d107
INDY	India S&P India Index Fund ETF	123,680	$3.667M	1.2%	$25.88	—	COM	464289529
EWY	Korea ETF - iShares	60,127	$3.638M	1.2%	$59.12	—	COM	464286772
SHY	Barclays 1-3 year Treasury ETF	35,499	$3M	1.0%	$84.50	—	COM	464287457
IGSB	Barclays 1-3 Yr Credit Bond ET	28,475	$2.998M	1.0%	$105.36	—	COM	464288646
IEF	Barclays 7-10 Year Treasury ET	28,825	$2.987M	1.0%	$102.71	—	COM	464287440
LQD	Corporate Bond Fund ETF - iSha	25,065	$2.963M	1.0%	$113.62	—	COM	464287242
THD	Thailand ETF - iShares	29,729	$2.492M	0.8%	$83.82	—	COM	464286624
—	EM Sovereign Debt ETF - Powers	87,100	$2.479M	0.8%	$28.46	—	COM	73936T573
EIDO	Indonesia ETF - iShares	83,603	$2.276M	0.7%	$26.38	—	COM	46429B309
WTRE	Global ex-US Real Estate ETF -	76,405	$2.164M	0.7%	$30.08	—	COM	97717W331
EWH	Hong Kong ETF - iShares	102,523	$2.084M	0.7%	$20.33	—	COM	464286871
—	Base Metals ETF - Powershares	91,605	$1.549M	0.5%	$16.91	—	COM	73936B705
AAPL	Apple Inc	12,690	$1.279M	0.4%	$17.81	+21.4%	COM	037833100
EIS	Israel ETF - iShares	19,391	$988K	0.3%	$52.32	—	COM	464286632
ILF	S&P Latin America 40 ETF - iSh	23,975	$884K	0.3%	$36.87	—	COM	464287390
EZA	South Africa ETF - iShares	12,411	$796K	0.3%	$68.70	—	COM	464286780
BAC	Bank of America Corp	44,000	$750K	0.2%	$10.03	+25.4%	COM	060505104
—	Senior Loan ETF - Powershares	30,770	$747K	0.2%	$24.87	—	COM	73936q769
—	Yamana Gold Inc.	120,100	$720K	0.2%	$8.76	—	COM	98462y100
—	Europe Alphadex ETF - First Tr	23,200	$714K	0.2%	$34.70	—	COM	33737j117
XLK	Technology Select Sector ETF -	17,650	$704K	0.2%	$35.75	—	COM	81369Y803
—	Merger Arb ETF - Credit Suisse	34,355	$677K	0.2%	$20.36	—	COM	22542D845
SPY	S&P500 Index ETF - SPDR	3,315	$653K	0.2%	$168.67	—	COM	78462F103
—	RAFI Long/Short ETF - ProShare	15,435	$649K	0.2%	$42.03	—	COM	74347x310
—	Macro Tracker ETF - Index IQ	24,170	$633K	0.2%	$25.96	—	COM	45409b206
IYF	Dow Jones US Financial ETF - i	6,600	$553K	0.2%	$83.18	—	COM	464287788
—	Info Tech ETF - Vanguard	5,350	$535K	0.2%	$89.63	—	COM	92204a702
WTMF	Managed Futures ETF - Wisdomtr	10,577	$461K	0.2%	$42.39	—	COM	97717W125
—	Copa Holdings S.A.	4,090	$439K	0.1%	$107.33	—	COM	p31076105
DAL	Delta Air Lines Inc	11,500	$416K	0.1%	$33.36	0.0%	COM	247361702
—	Valeant Pharmaceuticals	3,070	$403K	0.1%	$131.27	—	COM	91911K102
—	Peritus High Yield ETF - Advis	7,584	$380K	0.1%	$51.65	—	COM	00768Y503
EWG	Germany ETF - iShares	13,688	$379K	0.1%	$24.77	—	COM	464286806
—	China ETF - First Trust	13,294	$292K	0.1%	$22.14	—	COM	33737j141
—	JPMorgan Chase & Co	4,825	$291K	0.1%	$59.20	—	COM	46625h100
SJNK	High Yield 0-5yr Bond ETF - SP	9,620	$288K	0.1%	$29.94	—	COM	78468R408
—	Apollo Global Management LLC	9,350	$223K	0.1%	$23.85	—	COM	037612306
—	United Technologies Corp	2,050	$216K	0.1%	$105.37	—	COM	913017109
RGLD	Royal Gold Inc.	3,300	$214K	0.1%	$74.64	0.0%	COM	780287108
—	Glu Mobile Inc	41,350	$214K	0.1%	$4.99	—	COM	379890106
—	Oasis Petroleum	5,115	$214K	0.1%	$41.84	—	COM	674215108
XOM	Exxon Mobil Corp	2,150	$202K	0.1%	$53.69	+14.6%	COM	30231G102
F	Ford Motor Co.	13,330	$197K	0.1%	$9.38	0.0%	COM	345370860
—	Brazil ETF - First Trust	10,835	$195K	0.1%	$18.00	—	COM	33737j133
—	Hornbeck Offshore Services	5,691	$186K	0.1%	$42.65	—	COM	440543106
—	Singapore ETF - iShares	10,405	$139K	0.0%	$13.36	—	COM	464286673
—	Hovnanian Enterprises Inc.	27,450	$101K	0.0%	$5.61	—	COM	442487203