The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Akre Focus Instl MUT 742935125 7,895 293,067 SH   SOLE   293,067 0 293,067
Buffalo Discovery MUT 119530103 7,977 364,918 SH   SOLE   364,918 0 364,918
Dodge & Cox Stock MUT 256219106 990 5,212 SH   SOLE   5,212 0 5,212
Harbor Capital Appreciation MUT 411511504 2,244 35,802 SH   SOLE   35,802 0 35,802
OneSource Annuity Janus Aspen ANNUITY 999999999 198 10,788 SH   SOLE   10,788 0 10,788
Stone Ridge US Large Cap Risk MUT 861728806 5,317 493,210 SH   SOLE   493,210 0 493,210
iShares S&P MidCap 400 Growth MUT 464287606 1,524 7,984 SH   SOLE   7,984 0 7,984
Financial Select Sector SPDR ETF 81369Y605 831 35,000 SH   SOLE   35,000 0 35,000
First Trust Exchange Traded Al ETF 33734X135 53 1,900 SH   SOLE   1,900 0 1,900
First Trust Exchange Traded Al ETF 33734X135 4,849 175,071 SH   DFND 1 175,071 0 175,071
First Trust Internet Index ETF ETF 33733E302 99 1,127 SH   SOLE   1,127 0 1,127
First Trust Internet Index ETF ETF 33733E302 9,143 103,851 SH   DFND 1 103,851 0 103,851
Health Care Select Sector SPDR ETF 81369Y209 32 433 SH   SOLE   433 0 433
Health Care Select Sector SPDR ETF 81369Y209 2,960 39,802 SH   DFND 1 39,802 0 39,802
Market Vectors Semiconductor E ETF 57060U233 34 426 SH   SOLE   426 0 426
Market Vectors Semiconductor E ETF 57060U233 3,122 39,171 SH   DFND 1 39,171 0 39,171
PowerShares QQQ ETF 73935A104 44 334 SH   SOLE   334 0 334
PowerShares QQQ ETF 73935A104 4,057 30,645 SH   DFND 1 30,645 0 30,645
iShares S&P MidCap 400/BARRA V ETF 464287705 1,103 7,429 SH   SOLE   7,429 0 7,429
iShares Transportation Average ETF 464287192 3,005 18,325 SH   SOLE   18,325 0 18,325
iShares US Aerospace & Defense ETF 464288760 3,718 25,000 SH   SOLE   25,000 0 25,000
Deutsche X-trackers MSCI EAFE ETF 233051200 55 1,872 SH   SOLE   1,872 0 1,872
Deutsche X-trackers MSCI EAFE ETF 233051200 5,109 172,668 SH   DFND 1 172,668 0 172,668
Vanguard Emerging Markets Stoc ETF 922042858 55 1,390 SH   SOLE   1,390 0 1,390
Vanguard Emerging Markets Stoc ETF 922042858 5,088 128,086 SH   DFND 1 128,086 0 128,086
iShares FTSE/Xinhua China 25 I ETF 464287184 43 1,130 SH   SOLE   1,130 0 1,130
iShares FTSE/Xinhua China 25 I ETF 464287184 4,007 104,092 SH   DFND 1 104,092 0 104,092