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 NV	COM	007924103	159	18,952	SH		SOLE	NONE	18,952	0	0
ALASKA AIR GROUP	COM	011659109	3,080	67,296	SH		SOLE	NONE	67,296	0	0
ALUMINUM CO. OF AMERICA	COM	013817101	3,371	203,586	SH		SOLE	NONE	203,586	0	0
ALCATEL-LUCENT S.A.	COM	013904305	151	40,007	SH		SOLE	NONE	40,007	0	0
ALLIANT TECH	COM	018804104	1,477	11,394	SH		SOLE	NONE	11,394	0	0
AMETEK, INC.	COM	031100100	450	8,739	SH		SOLE	NONE	8,739	0	0
Berkshire Hathaway Cl-A	COM	084670108	382	2	SH		SOLE	NONE	2	0	0
BITAUTO HOLDINGS LTD.	COM	091727107	572	10,083	SH		SOLE	NONE	10,083	0	0
BLACK HILLS	COM	092113109	401	7,275	SH		SOLE	NONE	7,275	0	0
BOEING CO	COM	097023105	355	2,885	SH		SOLE	NONE	2,885	0	0
BOSTON SCIENTIFIC	COM	101137107	1,314	100,233	SH		SOLE	NONE	100,233	0	0
BROWN-FORMAN CORP.	COM	115637209	381	4,169	SH		SOLE	NONE	4,169	0	0
CVS CORP.	COM	126650100	478	6,036	SH		SOLE	NONE	6,036	0	0
CARBO CERAMICS INC	COM	140781105	467	3,237	SH		SOLE	NONE	3,237	0	0
CEMEX SA ADR	COM	151290889	176	13,555	SH		SOLE	NONE	13,555	0	0
CIMAREX ENERGY	COM	171798101	3,413	23,064	SH		SOLE	NONE	23,064	0	0
DEVRY INC	COM	251893103	476	11,815	SH		SOLE	NONE	11,815	0	0
DISCOVER FINANCIAL SERVICES	COM	254709108	3,791	60,553	SH		SOLE	NONE	60,553	0	0
DOW CHEMICAL CO	COM	260543103	1,624	30,237	SH		SOLE	NONE	30,237	0	0
FLAMEL TECHNOLOGIES SA	COM	338488109	160	11,713	SH		SOLE	NONE	11,713	0	0
FUJI HEAVY INDISTRIES LTD.	COM	359556206	134	2,308	SH		SOLE	NONE	2,308	0	0
GENERAL DYNAMICS	COM	369550108	1,638	13,520	SH		SOLE	NONE	13,520	0	0
GILEAD SCIENCES	COM	375558103	1,508	16,789	SH		SOLE	NONE	16,789	0	0
GRUMA SAB DE CV	COM	400131306	397	8,851	SH		SOLE	NONE	8,851	0	0
HALLIBURTON CO	COM	406216101	635	8,653	SH		SOLE	NONE	8,653	0	0
HANESBRANDS INC	COM	410345102	3,370	33,672	SH		SOLE	NONE	33,672	0	0
HELMERICH & PAYNE INC.	COM	423452101	2,853	24,430	SH		SOLE	NONE	24,430	0	0
HUNTINGTON INGALLS INDUSTRIES	COM	446413106	1,364	14,602	SH		SOLE	NONE	14,602	0	0
ITT CORP	COM	450911201	1,418	29,449	SH		SOLE	NONE	29,449	0	0
iShares MSCI Belgium Index Fund	COM	464286301	13,650	793,849	SH		SOLE	NONE	793,849	0	0
iShares MSCI EMU Index	COM	464286608	30,981	738,878	SH		SOLE	NONE	738,878	0	0
iShares MSCI Switzerland Capped Index Fund	COM	464286749	13,990	407,668	SH		SOLE	NONE	407,668	0	0
iShares MSCI Sweden ETF	COM	464286756	381	10,793	SH		SOLE	NONE	10,793	0	0
iShares MSCI Spain Index	COM	464286764	14,790	345,405	SH		SOLE	NONE	345,405	0	0
iShares MSCI Germany ETF	COM	464286806	14,210	454,305	SH		SOLE	NONE	454,305	0	0
iShares MSCI Netherlands Index	COM	464286814	14,247	556,568	SH		SOLE	NONE	556,568	0	0
ISHARES BARCLAYS TIPS	COM	464287176	255	2,203	SH		SOLE	NONE	2,203	0	0
iShares GS $ InvestTop Corp Bond	COM	464287242	892	7,466	SH		SOLE	NONE	7,466	0	0
ISHARES S&P 500 GROWTH	COM	464287309	9,572	90,074	SH		SOLE	NONE	90,074	0	0
ISHARES S&P 500 VALUE	COM	464287408	9,667	105,983	SH		SOLE	NONE	105,983	0	0
iShares 20+ Year Treasury Bond ETF	COM	464287432	1,141	9,982	SH		SOLE	NONE	9,982	0	0
iShares Barclays 7-10 Yr Treas Bd Fd	COM	464287440	39,644	382,678	SH		SOLE	NONE	382,678	0	0
ISHARES BARCLAYS 1-3 TREASURY	COM	464287457	323	3,819	SH		SOLE	NONE	3,819	0	0
iShares Russell Mid-Cap Value ETF	COM	464287473	1,042	14,354	SH		SOLE	NONE	14,354	0	0
iShares Cohen & Steers Realty Majors	COM	464287564	16,293	186,534	SH		SOLE	NONE	186,534	0	0
iShares Russell 1000 Value ETF	COM	464287598	1,207	11,920	SH		SOLE	NONE	11,920	0	0
ISHARES S&P MIDCAP VALUE	COM	464287705	10,272	82,573	SH		SOLE	NONE	82,573	0	0
iShares Dow Jones U.S. Technology Sec	COM	464287721	17,264	178,200	SH		SOLE	NONE	178,200	0	0
iShares DJ US Healthcare Sector	COM	464287762	17,007	132,650	SH		SOLE	NONE	132,650	0	0
iShares DJ US Basic Material	COM	464287838	16,894	193,050	SH		SOLE	NONE	193,050	0	0
iShares S&P Europe 350	COM	464287861	22,476	462,750	SH		SOLE	NONE	462,750	0	0
iShares JP Morgan Emerging Market Bond	COM	464288281	546	4,729	SH		SOLE	NONE	4,729	0	0
iShares iBoxx $ High Yield Corporate Bond ETF	COM	464288513	440	4,641	SH		SOLE	NONE	4,641	0	0
LEGG MASON	COM	524901105	1,300	25,507	SH		SOLE	NONE	25,507	0	0
LOCKHEED MARTIN CORP	COM	539830109	525	3,089	SH		SOLE	NONE	3,089	0	0
MDU Resources Group, Inc.	COM	552690109	916	27,777	SH		SOLE	NONE	27,777	0	0
MINERALS TECHNOLOGIES INC	COM	603158106	1,893	31,033	SH		SOLE	NONE	31,033	0	0
MONSTER BEVERAGE CORP	COM	611740101	345	5,147	SH		SOLE	NONE	5,147	0	0
NRG ENERGY	COM	629377508	1,156	36,863	SH		SOLE	NONE	36,863	0	0
NEWMARKET CORP.	COM	651587107	1,765	4,501	SH		SOLE	NONE	4,501	0	0
NOVOZYMES A/S	COM	670108109	182	3,605	SH		SOLE	NONE	3,605	0	0
OMNICARE, INC	COM	681904108	995	15,717	SH		SOLE	NONE	15,717	0	0
ONEOK INC.	COM	682680103	2,881	43,111	SH		SOLE	NONE	43,111	0	0
PPG INDUST. INC	COM	693506107	2,054	9,836	SH		SOLE	NONE	9,836	0	0
PACKAGING CORP. OF AMERICA	COM	695156109	1,052	15,517	SH		SOLE	NONE	15,517	0	0
PAMPA ENERGIA SA	COM	697660207	186	19,039	SH		SOLE	NONE	19,039	0	0
PATTERSON-UTI ENERGY INC	COM	703481101	531	14,081	SH		SOLE	NONE	14,081	0	0
PITNEY BOWES INC.	COM	724479100	3,757	139,310	SH		SOLE	NONE	139,310	0	0
RPM INTERNATIONAL INC.	COM	749685103	457	10,284	SH		SOLE	NONE	10,284	0	0
RF MICRO DEVICES INC.	COM	749941100	1,213	111,378	SH		SOLE	NONE	111,378	0	0
SALIX PHARMACEUTICALS, LTD.	COM	795435106	1,927	14,575	SH		SOLE	NONE	14,575	0	0
SWISS RE LTD	COM	870886108	143	1,637	SH		SOLE	NONE	1,637	0	0
SWISSCOM AG	COM	871013108	152	2,687	SH		SOLE	NONE	2,687	0	0
TATA MOTORS LTD.	COM	876568502	178	4,399	SH		SOLE	NONE	4,399	0	0
TELKOM SOUTH AFRICA LTD	COM	879603108	208	11,087	SH		SOLE	NONE	11,087	0	0
TORCHMARK CORP	COM	891027104	1,078	20,147	SH		SOLE	NONE	20,147	0	0
TRINITY INDS INC DEL	COM	896522109	1,303	28,738	SH		SOLE	NONE	28,738	0	0
UNIT CORPORATION	COM	909218109	1,602	23,648	SH		SOLE	NONE	23,648	0	0
UNITED RENTALS INC.	COM	911363109	2,001	17,754	SH		SOLE	NONE	17,754	0	0
Vanguard Short-Term Bond ETF	COM	921937827	37,437	465,984	SH		SOLE	NONE	465,984	0	0
Vanguard Mid-Cap Value Index Fund	COM	922908512	57,523	661,650	SH		SOLE	NONE	661,650	0	0
Vanguard Small-Cap Value ETF	COM	922908611	33,866	321,000	SH		SOLE	NONE	321,000	0	0
Vanguard Value ETF	COM	922908744	21,857	270,000	SH		SOLE	NONE	270,000	0	0
VESTAS WIND SYSTEMS	COM	925458101	323	20,734	SH		SOLE	NONE	20,734	0	0
WUXI PHARMA TECH INC	COM	929352102	126	3,914	SH		SOLE	NONE	3,914	0	0
WESTERN DIGITAL	COM	958102105	3,030	30,493	SH		SOLE	NONE	30,493	0	0
YPF S.A.	COM	984245100	182	5,073	SH		SOLE	NONE	5,073	0	0
BT GROUP PLC	COM	05577E101	156	2,382	SH		SOLE	NONE	2,382	0	0
First Trust Dow Jones Internet Index Fund	COM	33733E302	109	1,843	SH		SOLE	NONE	1,843	0	0
First Trust Dow Jones Internet Index Fund	COM	33733E302	274	4,600	SH		SOLE	NONE	4,600	0	0
BIOGEN IDEC INC	COM	09062X103	3,754	11,190	SH		SOLE	NONE	11,190	0	0
CONSTELLATION BRANDS'A'	COM	21036P108	4,497	51,947	SH		SOLE	NONE	51,947	0	0
EOG RESOURCES	COM	26875P101	417	3,629	SH		SOLE	NONE	3,629	0	0
EQUITABLE RESOURCES	COM	26884L109	2,281	22,776	SH		SOLE	NONE	22,776	0	0
EMPRESA DISTRIB COMERCIALIZADORA NORTE	COM	29244A102	350	25,535	SH		SOLE	NONE	25,535	0	0
ENEL SPA	COM	29265W207	137	23,998	SH		SOLE	NONE	23,998	0	0
FIRST TRUST LARGE CAP ALPHADEX	COM	33734K109	29,772	671,703	SH		SOLE	NONE	671,703	0	0
First Trust Consumer Staples AlphaDEX Fund	COM	33734X119	323	8,135	SH		SOLE	NONE	8,135	0	0
First Trust Financials AlphaDEX Fund	COM	33734X135	278	12,535	SH		SOLE	NONE	12,535	0	0
First Trust Health Care AlphaDEX Fund	COM	33734X143	252	4,729	SH		SOLE	NONE	4,729	0	0
FIRST TRUST MID CAP CORE ALPHADEX	COM	33735B108	31,838	600,206	SH		SOLE	NONE	600,206	0	0
FLOWSERVE CORP.	COM	34354P105	980	12,586	SH		SOLE	NONE	12,586	0	0
GDF SUEZ SA	COM	36160B105	150	5,636	SH		SOLE	NONE	5,636	0	0
GENWORTH FINANCIAL	COM	37247D106	3,765	230,295	SH		SOLE	NONE	230,295	0	0
HENKEL AG & CO.	COM	42550U109	145	1,467	SH		SOLE	NONE	1,467	0	0
INTERSIL CORP	COM	46069s109	399	29,171	SH		SOLE	NONE	29,171	0	0
J.P. Morgan Chase & Co. Alerian MLP Index	COM	46625H365	15,256	291,250	SH		SOLE	NONE	291,250	0	0
KEURIG GREEN MOUNTAIN INC	COM	49271M100	821	6,800	SH		SOLE	NONE	6,800	0	0
NETFLIX INC.	COM	64110L106	1,795	4,255	SH		SOLE	NONE	4,255	0	0
NextEra Energy Inc	COM	65339F101	509	5,169	SH		SOLE	NONE	5,169	0	0
POWERSHARES DWA TECHNICAL LEADERS	COM	73935X153	188	4,789	SH		SOLE	NONE	4,789	0	0
PowerShares Dynamic Leisure & Entertainment Portfolio	COM	73935X757	408	11,993	SH		SOLE	NONE	11,993	0	0
PowerShares S&P SmallCap Consumer Staples Portfolio	COM	73937B605	259	5,134	SH		SOLE	NONE	5,134	0	0
POWERSHARES S&P 500 LOW VOLATILITY	COM	73937B779	351	9,995	SH		SOLE	NONE	9,995	0	0
PowerShares S&P SmallCap Materials Portfolio	COM	73937B852	415	9,095	SH		SOLE	NONE	9,095	0	0
PowerShares S&P SmallCap Health Care Portfolio	COM	73937B886	602	10,953	SH		SOLE	NONE	10,953	0	0
PRUDENTIAL PLC	COM	74435K204	347	7,508	SH		SOLE	NONE	7,508	0	0
SPDR Barclays Capital Convertible Securities ETF	COM	78464A359	806	16,239	SH		SOLE	NONE	16,239	0	0
SPDR S&P Retail ETF	COM	78464A714	810	9,483	SH		SOLE	NONE	9,483	0	0
SPDR S&P Pharmaceuticals ETF	COM	78464A722	683	6,933	SH		SOLE	NONE	6,933	0	0
SVB FINANCIAL	COM	78486Q101	1,874	17,321	SH		SOLE	NONE	17,321	0	0
SEALED AIR CORP	COM	81211K100	1,936	59,615	SH		SOLE	NONE	59,615	0	0
SPDR Materials Select Sector	COM	81369Y100	34,059	684,160	SH		SOLE	NONE	684,160	0	0
SPDR Health Care Sector	COM	81369Y209	83,172	1,394,409	SH		SOLE	NONE	1,394,409	0	0
CONSUMER DISCRETIONARY SPDR	COM	81369Y407	39,390	612,208	SH		SOLE	NONE	612,208	0	0
Industrial Sector SPDR	COM	81369Y704	68,654	1,290,951	SH		SOLE	NONE	1,290,951	0	0
SEIKO EPSON CORP	COM	81603X108	536	30,707	SH		SOLE	NONE	30,707	0	0
SKYWORKS SOLUTIONS INC	COM	83088M102	353	6,853	SH		SOLE	NONE	6,853	0	0
SMITH & NEPHEW PLC	COM	83175M205	324	3,885	SH		SOLE	NONE	3,885	0	0
Statoil ASA	COM	85771P102	160	5,418	SH		SOLE	NONE	5,418	0	0
SUNEDISON INC.	COM	86732Y109	2,560	125,792	SH		SOLE	NONE	125,792	0	0
SYSMEX CORP	COM	87184P109	191	10,011	SH		SOLE	NONE	10,011	0	0
TECHTRONIC INDUSTRIES LTD	COM	87873R101	256	16,636	SH		SOLE	NONE	16,636	0	0
VALERO ENERGY	COM	91913Y100	772	15,699	SH		SOLE	NONE	15,699	0	0
Viacom Cl B	COM	92553P201	349	4,194	SH		SOLE	NONE	4,194	0	0
VIPSHOP HOLDINGS LTD.	COM	92763W103	1,021	6,137	SH		SOLE	NONE	6,137	0	0
VISA INC.	COM	92826C839	452	2,273	SH		SOLE	NONE	2,273	0	0
VODAPHONE	COM	92857W308	163	4,771	SH		SOLE	NONE	4,771	0	0
WPP PLC	COM	92937A102	324	3,088	SH		SOLE	NONE	3,088	0	0
WISDOM TREE TOTAL DIVIDEND	COM	97717W109	9,405	130,856	SH		SOLE	NONE	130,856	0	0
ACTAVIS INC	COM	G0083B108	8,528	41,066	SH		SOLE	NONE	41,066	0	0
COVIDIEN LTD.	COM	G2554F113	119	1,722	SH		SOLE	NONE	1,722	0	0
DELPHI AUTOMOTIVE	COM	G27823106	3,270	48,357	SH		SOLE	NONE	48,357	0	0
ICON PLC.	COM	G4705A100	294	6,522	SH		SOLE	NONE	6,522	0	0
INGERSOLL RAND	COM	G47791101	222	3,653	SH		SOLE	NONE	3,653	0	0
Mallinckrodt PLC	COM	G5785G107	1,060	14,252	SH		SOLE	NONE	14,252	0	0
Nabors Industries Ltd	COM	G6359F103	1,252	44,038	SH		SOLE	NONE	44,038	0	0
ACE LIMITED	COM	H0023R105	287	2,804	SH		SOLE	NONE	2,804	0	0
AERCAP HOLDINGS NV	COM	N00985106	263	6,192	SH		SOLE	NONE	6,192	0	0
ORTHOFIX INTL NV	COM	N6748L102	163	4,861	SH		SOLE	NONE	4,861	0	0