Dorsey Wright & Associates 13F-HR Quarterly holdings report by institutional manager

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

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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
AEGON N.V. ADR	COM	007924103	179	19,569	SH		SOLE	NONE	19,569	0	0
Alaska Air Group	COM	011659109	2,823	34,709	SH		SOLE	NONE	34,709	0	0
Alcatel Alsthom	COM	013904305	165	41,153	SH		SOLE	NONE	41,153	0	0
Alliant Techsystems	COM	018804104	1,570	11,776	SH		SOLE	NONE	11,776	0	0
AMETEK	COM	031100100	470	9,165	SH		SOLE	NONE	9,165	0	0
Berkshire Hathaway	COM	084670108	229	2	SH		SOLE	NONE	2	0	0
Bitauto Holdings Ltd	COM	091727107	362	10,365	SH		SOLE	NONE	10,365	0	0
Boeing Company	COM	097023105	2,162	15,305	SH		SOLE	NONE	15,305	0	0
Boston Scientific	COM	101137107	1,352	99,109	SH		SOLE	NONE	99,109	0	0
CBS Corp	COM	124857202	3,323	55,667	SH		SOLE	NONE	55,667	0	0
Cigna Corp	COM	125509109	667	7,452	SH		SOLE	NONE	7,452	0	0
CARBO Ceramics	COM	140781105	374	3,359	SH		SOLE	NONE	3,359	0	0
Chicago Bridge & Iron	COM	167250109	303	3,701	SH		SOLE	NONE	3,701	0	0
Cimarex Energy	COM	171798101	1,392	13,591	SH		SOLE	NONE	13,591	0	0
Discover Financial Services	COM	254709108	3,253	62,097	SH		SOLE	NONE	62,097	0	0
R.R. Donnelley and Sons	COM	257867101	1,587	82,269	SH		SOLE	NONE	82,269	0	0
E Trade	COM	269246104	1,461	69,466	SH		SOLE	NONE	69,466	0	0
Gilead Sciences	COM	375558103	3,002	36,551	SH		SOLE	NONE	36,551	0	0
Gruma S.A. de C.V. ADR	COM	400131306	294	9,115	SH		SOLE	NONE	9,115	0	0
Halliburton Co	COM	406216101	443	8,841	SH		SOLE	NONE	8,841	0	0
Hanesbrands	COM	410345102	2,424	36,150	SH		SOLE	NONE	36,150	0	0
Hartford Financial Services Group	COM	416515104	1,403	41,481	SH		SOLE	NONE	41,481	0	0
Helmerich & Payne	COM	423452101	1,074	12,318	SH		SOLE	NONE	12,318	0	0
Jack Henry	COM	426281101	992	16,753	SH		SOLE	NONE	16,753	0	0
Huntington Ingalls Industries	COM	446413106	3,522	36,236	SH		SOLE	NONE	36,236	0	0
ITT Corp	COM	450911102	1,363	31,878	SH		SOLE	NONE	31,878	0	0
iShare MSCI Belgium Index Fund	COM	464286301	9,818	608,349	SH		SOLE	NONE	608,349	0	0
iShare MSCI EMU Index	COM	464286608	28,299	695,813	SH		SOLE	NONE	483,700	0	0
iShares MSCI Switzerland	COM	464286749	10,771	334,400	SH		SOLE	NONE	334,400	0	0
iShares MSCI Germany	COM	464286806	11,159	362,900	SH		SOLE	NONE	362,900	0	0
iShares MSCI Netherlands	COM	464286814	9,860	386,550	SH		SOLE	NONE	386,550	0	0
iShares MSCI Japan	COM	464286848	9,100	762,150	SH		SOLE	NONE	762,150	0	0
iShares TIPS Bond ETF	COM	464287176	336	3,020	SH		SOLE	NONE	3,020	0	0
iShares Core Total U.S. Bond Market ETF	COM	464287226	348	3,250	SH		SOLE	NONE	3,250	0	0
iShares Investment Grade Corporate Bond ETF	COM	464287242	591	5,126	SH		SOLE	NONE	5,126	0	0
iShares 20+ Year Treasury Bond ETF	COM	464287432	302	2,835	SH		SOLE	NONE	2,835	0	0
iShares 7-10 Year Treasury Bond ETF	COM	464287440	37,515	376,547	SH		SOLE	NONE	376,547	0	0
iShares 7-10 Year Treasury Bond ETF	COM	464287440	2,076	20,511	SH		SOLE	NONE	20,511	0	0
iShares 1-3 Year Treasury Bond ETF	COM	464287457	390	4,620	SH		SOLE	NONE	4,620	0	0
iShares U.S. Consumer Services ETF	COM	464287580	12,254	101,270	SH		SOLE	NONE	101,270	0	0
iShares S&P Mid-Cap 400 Value ETF	COM	464287705	9,246	78,910	SH		SOLE	NONE	78,910	0	0
iShares U.S. Healthcare ETF	COM	464287762	13,518	116,650	SH		SOLE	NONE	116,650	0	0
iShares U.S. Financial ETF	COM	464287788	13,394	167,960	SH		SOLE	NONE	167,960	0	0
iShares S&P SmallCap Value ETF	COM	464287879	8,914	80,307	SH		SOLE	NONE	80,307	0	0
iShares S&P SmallCap Growth ETF	COM	464287887	9,535	80,483	SH		SOLE	NONE	80,483	0	0
iShares J.P.Morgan USD Emerging Markets Bond ETF	COM	464288281	151	1,399	SH		SOLE	NONE	1,399	0	0
iShares Moderate Allocation ETF	COM	464289875	311	9,067	SH		SOLE	NONE	9,067	0	0
Kroger Co	COM	501044101	1,681	46,191	SH		SOLE	NONE	46,191	0	0
Lexmark International	COM	529771107	407	11,335	SH		SOLE	NONE	11,335	0	0
Lockheed Martin Corp	COM	539830109	464	3,087	SH		SOLE	NONE	3,087	0	0
MELCO CROWN ENTERTAINMENT LTD	COM	585464100	370	8,870	SH		SOLE	NONE	8,870	0	0
Mentor Graphics Corp	COM	587200106	1,304	59,877	SH		SOLE	NONE	59,877	0	0
Minerals Technologies	COM	603158106	3,078	53,086	SH		SOLE	NONE	53,086	0	0
Mohawk Industries	COM	608190104	446	3,018	SH		SOLE	NONE	3,018	0	0
Newell Rubbermaid	COM	651229106	360	11,418	SH		SOLE	NONE	11,418	0	0
Omnicare	COM	681904108	2,604	41,112	SH		SOLE	NONE	41,112	0	0
ORIX Corp. ADR	COM	J61933123	163	1,980	SH		SOLE	NONE	1,980	0	0
PPG Industries	COM	693506107	1,888	10,106	SH		SOLE	NONE	10,106	0	0
Packaging Corp. of America	COM	695156109	1,039	15,925	SH		SOLE	NONE	15,925	0	0
Pitney Bowes	COM	724479100	2,830	126,464	SH		SOLE	NONE	126,464	0	0
RPM Intl	COM	749685103	431	10,391	SH		SOLE	NONE	10,391	0	0
RPM Intl	COM	749685103	1,585	15,779	SH		SOLE	NONE	15,779	0	0
Sotheby's Holdings	COM	835898107	1,306	25,885	SH		SOLE	NONE	25,885	0	0
SWISS RE LTD	COM	870886108	149	1,686	SH		SOLE	NONE	1,686	0	0
Torchmark Corp	COM	891027104	1,057	13,829	SH		SOLE	NONE	13,829	0	0
Trinity Biotech plc ADR	COM	896438306	223	8,415	SH		SOLE	NONE	8,415	0	0
Tupperware Corp.	COM	899896104	489	5,583	SH		SOLE	NONE	5,583	0	0
Unitek Global Services	COM	911363109	1,600	19,209	SH		SOLE	NONE	19,209	0	0
United States Steel Corp	COM	912909108	1,264	48,002	SH		SOLE	NONE	48,002	0	0
Vanguard Short-Term Bond ETF	COM	921937827	38,381	480,134	SH		SOLE	NONE	480,134	0	0
Vanguard Mid-Cap Value ETF	COM	922908512	70,793	897,950	SH		SOLE	NONE	633,950	0	0
Vanguard Small-Cap Growth ETF	COM	922908595	21,905	180,900	SH		SOLE	NONE	180,900	0	0
Vanguard Small-Cap Value ETF	COM	922908611	69,819	724,950	SH		SOLE	NONE	513,600	0	0
VESTAS WIND SYSTEMS	COM	925458101	246	21,358	SH		SOLE	NONE	21,358	0	0
Western Digital Corp	COM	958102105	1,786	20,528	SH		SOLE	NONE	20,528	0	0
Whirlpool Corp	COM	963320106	528	3,450	SH		SOLE	NONE	3,450	0	0
Worthington Industries	COM	981811102	3,198	75,146	SH		SOLE	NONE	75,146	0	0
Yahoo	COM	984332106	4,452	113,042	SH		SOLE	NONE	113,042	0	0
BT Group plc	COM	05577E101	155	2,445	SH		SOLE	NONE	2,445	0	0
ADIDAS AG	COM	00687A107	154	2,474	SH		SOLE	NONE	2,474	0	0
Biogen Idec	COM	09062X103	3,626	11,514	SH		SOLE	NONE	11,514	0	0
China Mobile Games & Entertainment Group	COM	16952T100	279	8,658	SH		SOLE	NONE	8,658	0	0
Constellation Brands	COM	21036P108	4,252	55,053	SH		SOLE	NONE	55,053	0	0
EOG Resources	COM	26875P101	313	1,851	SH		SOLE	NONE	1,851	0	0
EQT Corp	COM	26884L109	940	10,237	SH		SOLE	NONE	10,237	0	0
First Trust Large Cap Core AlphaDEX Fund	COM	33734K109	26,100	641,158	SH		SOLE	NONE	447,800	0	0
First Trust Small Cap Core AlphaDEX Fund	COM	33734Y109	19,089	397,200	SH		SOLE	NONE	397,200	0	0
First Trust Small Cap Core AlphaDEX Fund	COM	33734Y109	8,193	170,771	SH		SOLE	NONE	170,771	0	0
First Trust Mid Cap Core AlphaDEX Fund	COM	33735B108	19,834	397,800	SH		SOLE	NONE	397,800	0	0
First Trust Mid Cap Core AlphaDEX Fund	COM	33735B108	8,808	174,499	SH		SOLE	NONE	174,499	0	0
Flowserve Corp	COM	34354P105	991	13,022	SH		SOLE	NONE	13,022	0	0
Genworth Financial	COM	37247D106	3,874	244,787	SH		SOLE	NONE	244,787	0	0
HENKEL AG	COM	42550U109	156	1,513	SH		SOLE	NONE	1,513	0	0
HENKEL AG	COM	43289P106	294	20,468	SH		SOLE	NONE	20,468	0	0
JPMorgan Alerian MLP Index ETN	COM	46625H365	13,261	289,550	SH		SOLE	NONE	289,550	0	0
Netflix	COM	64110L106	4,194	10,790	SH		SOLE	NONE	10,790	0	0
PowerShares S&P 500 Low Volatility Portfolio	COM	73937B779	314	9,645	SH		SOLE	NONE	9,645	0	0
SM Energy Company	COM	865580104	1,064	12,252	SH		SOLE	NONE	12,252	0	0
SVB Financial Group	COM	78486Q101	442	4,016	SH		SOLE	NONE	4,016	0	0
Sealed Air Corp.	COM	81211K100	968	30,166	SH		SOLE	NONE	30,166	0	0
SPDR Health Care Select Sector ETF	COM	81369Y209	25,566	463,750	SH		SOLE	NONE	463,750	0	0
SPDR Health Care Select Sector ETF	COM	81369Y209	11,552	202,670	SH		SOLE	NONE	202,670	0	0
SPDR Consumer Discretionary Select Sector ETF	COM	81369Y407	27,057	406,750	SH		SOLE	NONE	406,750	0	0
SPDR Consumer Discretionary Select Sector ETF	COM	81369Y407	11,445	176,785	SH		SOLE	NONE	176,785	0	0
SPDR Industrial Select Sector ETF	COM	81369Y704	22,114	429,150	SH		SOLE	NONE	429,150	0	0
SPDR Industrial Select Sector ETF	COM	81369Y704	9,580	186,354	SH		SOLE	NONE	186,354	0	0
SEIKO EPSON CORP	COM	81603X108	214	15,926	SH		SOLE	NONE	15,926	0	0
Viacom Inc. Cl B	COM	92553P201	373	4,476	SH		SOLE	NONE	4,476	0	0
VIPSHOP HOLDINGS LTD	COM	92763W103	437	4,259	SH		SOLE	NONE	4,259	0	0
VISA	COM	92826C839	515	2,257	SH		SOLE	NONE	2,257	0	0
ACTAVIS	COM	G0083B108	3,921	21,410	SH		SOLE	NONE	21,410	0	0
DELPHI AUTOMOTIVE	COM	G27823106	1,613	25,901	SH		SOLE	NONE	25,901	0	0
Eaton Corp	COM	G29183103	495	6,520	SH		SOLE	NONE	6,520	0	0