Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	US Equity Large Cap ETF - Firs	923,725	$41.21M	20.0%	$44.75	—	COM	33734k109
SPY	US S&P 500 Index ETF - SPDR	163,991	$33.7M	16.4%	$205.20	—	COM	78462F103
DBJP	Japan Yen Hedged ETF - Deutsch	633,489	$21.25M	10.3%	$40.88	—	COM	233051507
EWY	Korea ETF - iShares	149,725	$7.908M	3.8%	$52.82	—	COM	464286772
—	United Kingdom ETF - iShares	496,580	$7.786M	3.8%	$16.18	—	COM	46434v548
IVV	US S&P500 ETF - iShares	34,424	$7.114M	3.5%	$195.54	—	COM	464287200
—	KBW Bank ETF - Powershares	183,250	$6.058M	2.9%	$36.10	—	COM	73937B746
TLT	20+ yr Treasury ETF - iShares	44,170	$5.769M	2.8%	$124.66	—	COM	464287432
DBAW	Hedged ACWI ex US ETF - Deutsc	256,045	$5.638M	2.7%	$26.18	—	COM	233051820
—	Taiwan ETF - iShares	405,510	$5.62M	2.7%	$12.77	—	COM	464286731
—	Germany Hedged ETF - Deutsche	242,185	$5.483M	2.7%	$27.95	—	COM	233051408
EZA	South Africa ETF - iShares	90,950	$4.821M	2.3%	$55.48	—	COM	464286780
QAI	Multi-Strategy Tracker ETF - I	162,100	$4.672M	2.3%	$29.16	—	COM	45409B107
—	China ETF - iShares	101,085	$4.297M	2.1%	$44.62	—	COM	46429b671
DBEZ	Eurozone Hedged ETF - Deutsche	153,745	$3.79M	1.8%	$26.10	—	COM	233051697
EWO	Austria ETF - iShares	223,020	$3.506M	1.7%	$15.72	—	COM	464286202
—	Japan Hedged Equity ETF - Wisd	69,279	$3.028M	1.5%	$50.21	—	COM	97717w851
EWH	Hong Kong ETF - iShares	129,715	$2.564M	1.2%	$19.81	—	COM	464286871
AAPL	Apple Inc	23,499	$2.561M	1.2%	$22.79	-1.1%	COM	037833100
—	JPM EM Local Currency Bond ETF	118,890	$2.21M	1.1%	$18.59	—	COM	92189f494
TUR	Turkey ETF - iShares	37,104	$1.627M	0.8%	$41.77	—	COM	464286715
—	MS India Investment Fund	47,895	$1.198M	0.6%	$26.29	—	COM	61745C105
—	Short Term Muni Bond ETF - SPD	24,450	$1.194M	0.6%	$48.83	—	COM	78468r739
HEFA	EAFE Index ETF Hedged- iShares	48,200	$1.151M	0.6%	$23.88	—	COM	46434V803
EDEN	Denmark ETF - iShares	20,115	$1.137M	0.6%	$53.46	—	COM	46429B523
SRLN	Blackstone/GSO Senior Loan ETF	21,190	$985K	0.5%	$46.11	—	COM	78467V608
—	Facebook Inc	7,770	$887K	0.4%	$78.01	—	COM	30303m102
—	Alphabet Inc Class A	1,150	$877K	0.4%	$638.26	—	COM	02079k305
VOO	S&P500 Index ETF - Vanguard	4,645	$876K	0.4%	$188.59	—	COM	922908363
MNA	Merger Arbitrage ETF - Index I	29,245	$844K	0.4%	$28.06	—	COM	45409B800
LEA	Lear Corp.	7,265	$808K	0.4%	$75.60	+16.6%	COM	521865204
—	High Yield L/S ETF - First Tru	17,050	$808K	0.4%	$46.98	—	COM	33738d408
EWK	Belgium ETF - iShares	45,475	$803K	0.4%	$18.07	—	COM	464286301
AGG	Barclays Aggregate Bond Fund E	6,540	$725K	0.4%	$110.06	—	COM	464287226
CVS	CVS Caremark Corp	6,320	$656K	0.3%	$66.33	+9.2%	COM	126650100
WTMF	Managed Futures ETF - Wisdomtr	14,752	$618K	0.3%	$42.87	—	COM	97717W125
EWW	Mexico ETF - iShares	11,310	$607K	0.3%	$53.67	—	COM	464286822
GILD	Gilead Sciences Inc	6,542	$601K	0.3%	$71.85	-11.7%	COM	375558103
DAL	Delta Air Lines Inc	12,294	$598K	0.3%	$34.70	+19.2%	COM	247361702
EIS	Israel ETF - iShares	12,275	$587K	0.3%	$47.82	—	COM	464286632
—	Allergan Inc	2,177	$584K	0.3%	$303.63	—	COM	018490102
—	JPMorgan Chase & Co	9,434	$559K	0.3%	$62.03	—	COM	46625h100
—	Akamai Technologies Inc	9,740	$541K	0.3%	$55.54	—	COM	00971t101
—	Tesoro Corp	5,660	$487K	0.2%	$86.04	—	COM	881609101
FTLS	Long/Short ETF - First Trust	14,520	$465K	0.2%	$31.32	—	COM	33739P103
GSLC	US Large Cap ETF - Goldman Sac	11,035	$463K	0.2%	$41.96	—	COM	381430503
BAC	Bank of America Corp	33,020	$446K	0.2%	$10.86	0.0%	COM	060505104
—	Unitedhealth Group Inc	3,445	$444K	0.2%	$128.88	—	COM	91324p102
EWD	Sweden ETF - iShares	14,606	$430K	0.2%	$31.61	—	COM	464286756
PANW	Palo Alto Networks Inc.	2,540	$414K	0.2%	$26.69	-7.9%	COM	697435105
EIDO	Indonesia ETF - iShares	16,480	$388K	0.2%	$23.54	—	COM	46429B309
DIS	Walt Disney Co	3,880	$385K	0.2%	$95.83	-7.1%	COM	254687106
—	Blackrock MuniYield Quality	24,900	$375K	0.2%	$14.07	—	COM	09254E103
—	QQQ Trust ETF - Powershares	3,295	$360K	0.2%	$102.54	—	COM	73935A104
—	D R Horton Inc	11,340	$343K	0.2%	$29.37	—	COM	23331a109
—	Aetna Inc New	2,975	$334K	0.2%	$109.24	—	COM	00817y108
PRU	Prudential Financial Inc	4,465	$322K	0.2%	$52.99	-15.4%	COM	744320102
INDY	India ETF - iShares	11,200	$301K	0.1%	$27.20	—	COM	464289529
FYX	US Small Cap ETF - First Trust	5,740	$259K	0.1%	$49.01	—	COM	33734Y109
IGSB	Barclays 1-3 Yr Credit Bond ET	2,455	$259K	0.1%	$105.36	—	COM	464288646
SJNK	High Yield 0-5yr Bond ETF - SP	9,795	$253K	0.1%	$28.97	—	COM	78468R408
—	Blackrock Core Bond Trust	18,500	$248K	0.1%	$13.20	—	COM	09249E101
—	0-5 Year High Yield ETF - PIMC	2,625	$244K	0.1%	$99.76	—	COM	72201r783
—	Senior Loan ETF - Powershares	8,515	$193K	0.1%	$24.19	—	COM	73936q769
—	Blackrock Global Floating Rate	14,700	$189K	0.1%	$12.83	—	COM	091941104
—	Eaton Vance Ltd Duration Incom	14,000	$185K	0.1%	$14.14	—	COM	27828h105
—	Hovnanian Enterprises Inc.	18,180	$28,000	0.0%	$2.64	—	COM	442487203