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
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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
BANCO SANTANDER SA ADR 05964H105 74 11,250 SH   SOLE   11,250 0 0
DBX ETF TR XTRACK USD HIGH 233051432 281,920 5,590,320 SH   SOLE   5,590,028 0 292
DIREXION SHS ETF TR ZACKS MLP HG INC 25459Y298 429 26,834 SH   SOLE   26,834 0 0
ETFS PRECIOUS METALS BASKET PHYS PM BSKT 26922W109 47,720 734,036 SH   SOLE   734,036 0 0
EXCHANGE TRADED CONCEPTS TR ROBO GLB ETF 301505707 192,466 4,657,947 SH   SOLE   4,657,947 0 0
FLEXSHARES TR IBOXX 5YR TRGT 33939L605 200,818 8,048,823 SH   SOLE   8,048,823 0 0
GLOBAL X FDS GLBL X MLP ETF 37950E473 35,214 3,571,366 SH   SOLE   3,571,366 0 0
ISHARES GOLD TRUST ISHARES 464285105 983,461 78,613,916 SH   SOLE   78,606,012 0 7,904
ISHARES INC CORE MSCI EMKT 46434G103 30,196 530,692 SH   SOLE   530,692 0 0
ISHARES TR 0-5 YR TIPS ETF 46429B747 1,328 13,297 SH   SOLE   13,297 0 0
ISHARES TR 0-5YR HI YL CP 46434V407 1,486,057 31,531,025 SH   SOLE   31,528,019 0 3,006
ISHARES TR AGENCY BOND ETF 464288166 59,425 525,457 SH   SOLE   525,457 0 0
ISHARES TR CALIF MUN BD ETF 464288356 30,129 509,366 SH   SOLE   509,366 0 0
ISHARES TR CMBS ETF 46429B366 28,793 561,593 SH   SOLE   561,593 0 0
ISHARES TR CORE S&P500 ETF 464287200 317 1,177 SH   SOLE   1,177 0 0
ISHARES TR CRE U S REIT ETF 464288521 1,247 25,120 SH   SOLE   25,120 0 0
ISHARES TR INTL DEV RE ETF 464288489 1,423 47,441 SH   SOLE   47,441 0 0
ISHARES TR INTL TREA BD ETF 464288117 2,358 47,246 SH   SOLE   47,246 0 0
ISHARES TR MBS ETF 464288588 1,516 14,225 SH   SOLE   14,225 0 0
ISHARES TR PFD AND INCM SEC 464288687 701 18,409 SH   SOLE   18,409 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 854 5,598 SH   SOLE   5,598 0 0
ISHARES TR S&P 500 GRWT ETF 464287309 209 1,370 SH   SOLE   1,370 0 0
ISHARES TR TIPS BD ETF 464287176 55,332 485,020 SH   SOLE   485,020 0 0
POWERSHARES ACT MANG COMM FD OPT YLD DIV 73937V106 130,122 7,456,870 SH   SOLE   7,456,870 0 0
POWERSHARES ETF TR II CALI MUNI ETF 73936T441 101,394 3,843,570 SH   SOLE   3,843,570 0 0
POWERSHARES ETF TR II DEV MKTS EX-US 73936T789 58,874 1,296,776 SH   SOLE   1,296,776 0 0
POWERSHARES ETF TR II EMER MRKT PORT 73936T763 39,326 1,761,139 SH   SOLE   1,761,139 0 0
POWERSHARES ETF TR II EX US SML PORT 73936T771 36,602 1,063,695 SH   SOLE   1,063,694 0 1
POWERSHARES ETF TRUST FTSE RAFI 1000 73935X583 108,943 959,176 SH   SOLE   959,176 0 0
POWERSHARES ETF TRUST FTSE US1500 SM 73935X567 47,886 368,662 SH   SOLE   368,662 0 0
POWERSHARES ETF TRUST II SENIOR LN PORT 73936Q769 236,221 10,252,655 SH   SOLE   10,252,655 0 0
ROYAL GOLD INC NOTE 2.875% 6/1 780287AA6 24 22,000 PRN   SOLE   22,000 0 0
SCHWAB STRATEGIC TR EMRG MKTEQ ETF 808524706 767,646 27,474,798 SH   SOLE   27,472,570 0 2,228
SCHWAB STRATEGIC TR INTL EQTY ETF 808524805 1,483,330 43,537,727 SH   SOLE   43,534,682 0 3,045
SCHWAB STRATEGIC TR INTL SCEQT ETF 808524888 702,548 19,179,575 SH   SOLE   19,177,886 0 1,689
SCHWAB STRATEGIC TR INTRM TRM TRES 808524854 455,472 8,542,242 SH   SOLE   8,541,707 0 535
SCHWAB STRATEGIC TR SCHWAB FDT US LG 808524771 2,735,346 73,020,466 SH   SOLE   73,014,369 0 6,097
SCHWAB STRATEGIC TR SCHWAB FDT US SC 808524763 1,718,547 45,344,247 SH   SOLE   45,340,309 0 3,938
SCHWAB STRATEGIC TR SCHWB FDT EMK LG 808524730 1,021,989 34,445,188 SH   SOLE   34,442,235 0 2,953
SCHWAB STRATEGIC TR SCHWB FDT INT LG 808524755 1,882,171 61,913,517 SH   SOLE   61,908,580 0 4,937
SCHWAB STRATEGIC TR SCHWB FDT INT SC 808524748 998,375 27,763,487 SH   SOLE   27,761,170 0 2,317
SCHWAB STRATEGIC TR US BRD MKT ETF 808524102 209 3,235 SH   SOLE   3,235 0 0
SCHWAB STRATEGIC TR US DIVIDEND EQ 808524797 386,539 7,554,011 SH   SOLE   7,554,011 0 0
SCHWAB STRATEGIC TR US LRG CAP ETF 808524201 2,259,509 35,426,604 SH   SOLE   35,423,942 0 2,662
SCHWAB STRATEGIC TR US REIT ETF 808524847 749,920 18,018,278 SH   SOLE   18,016,883 0 1,395
SCHWAB STRATEGIC TR US SML CAP ETF 808524607 1,095,506 15,708,426 SH   SOLE   15,707,204 0 1,222
SCHWAB STRATEGIC TR US TIPS ETF 808524870 297,307 5,363,657 SH   SOLE   5,363,657 0 0
SELECT SECTOR SPDR TR ENERGY 81369Y506 155,878 2,157,188 SH   SOLE   2,157,188 0 0
SPDR INDEX SHS FDS EURO STOXX 50 78463X202 165,000 4,053,067 SH   SOLE   4,053,067 0 0
SPDR INDEX SHS FDS S&P INTL ETF 78463X772 211,728 5,137,793 SH   SOLE   5,137,793 0 0
SPDR SER TR NUVEEN BLMBRG SR 78468R739 3,069 64,070 SH   SOLE   64,070 0 0
SPDR SER TR NUVEEN BRC MUNIC 78468R721 282 5,767 SH   SOLE   5,767 0 0
SPDR SER TR PORTFOLIO SM ETF 78468R853 150,751 5,000,072 SH   SOLE   5,000,072 0 0
SPDR SERIES TRUST BLOMBRG BRC EMRG 78464A391 234,242 7,892,273 SH   SOLE   7,891,940 0 333
SPDR SERIES TRUST BLOOMBERG BRCLYS 78464A417 49,012 1,334,738 SH   SOLE   1,334,738 0 0
SPDR SERIES TRUST DJ REIT ETF 78464A607 72,589 774,780 SH   SOLE   774,780 0 0
SPDR SERIES TRUST PORTFOLIO INTRMD 78464A375 639,535 18,688,939 SH   SOLE   1,868,393 0 546
SPDR SERIES TRUST WELLS FG PFD ETF 78464A292 55,228 1,254,043 SH   SOLE   1,254,043 0 0
VANECK VECTORS ETF TR JP MORGAN MKTS 92189F494 1,119,246 58,969,725 SH   SOLE   58,964,404 0 5,321
VANGUARD CHARLOTTE FDS INTL BD IDX ETF 92203J407 625,304 11,500,901 SH   SOLE   11,499,914 0 987
VANGUARD INDEX FDS LARGE CAP ETF 922908637 525,614 4,287,925 SH   SOLE   4,287,925 0 0
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 83,797 341,626 SH   SOLE   341,626 0 0
VANGUARD INDEX FDS SM CP VAL ETF 922908611 234 1,761 SH   SOLE   1,761 0 0
VANGUARD INDEX FDS SMALL CP ETF 922908751 42,305 286,234 SH   SOLE   286,234 0 0
VANGUARD INDEX FDS TOTAL STK MKT 922908769 202 1,472 SH   SOLE   1,472 0 0
VANGUARD INDEX FDS VALUE ETF 922908744 450 4,238 SH   SOLE   4,238 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 132,896 2,894,711 SH   SOLE   2,894,711 0 0
VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF 922042718 32,966 276,489 SH   SOLE   276,489 0 0
VANGUARD INTL EQUITY INDEX F GLB EX US ETF 922042676 487,092 8,051,113 SH   SOLE   8,050,417 0 696
VANGUARD MUN BD FD INC TAX EXEMPT BD 922907746 328,632 6,359,594 SH   SOLE   6,359,594 0 0
VANGUARD SCOTTSDALE FDS INTER TERM TREAS 92206C706 98,227 1,536,297 SH   SOLE   1,536,297 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 4,322 49,459 SH   SOLE   49,459 0 0
VANGUARD SCOTTSDALE FDS LG-TERM COR BD 92206C813 76,557 799,557 SH   SOLE   799,557 0 0
VANGUARD SCOTTSDALE FDS MORTG-BACK SEC 92206C771 1,165,342 22,222,387 SH   SOLE   22,220,907 0 1,480
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 563,233 12,555,345 SH   SOLE   12,555,345 0 0
VANGUARD WHITEHALL FDS INC HIGH DIV YLD 921946406 8,519 99,489 SH   SOLE   99,489 0 0
VANGUARD WHITEHALL FDS INC INTL HIGH ETF 921946794 38,648 576,840 SH   SOLE   576,840 0 0