Capital Directions Investment Advisors 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

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
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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
Deutsche X-Trackers ETF	COM	233051200	30	1,000	SH		SOLE		30	0	0
Deutsche X-Trackers ETF	COM	233051853	29	1,000	SH		SOLE		29	0	0
First Tr Nasdaq 100 Fund	COM	337345102	8	186	SH		SOLE		8	0	0
Ishares Tr Cohen & Steer	COM	449243104	36	375	SH		SOLE		36	0	0
iShares MSCI Japan Small Cap Index	COM	464286582	80	1,360	SH		SOLE		80	0	0
Ishares Msci Israel Inx	COM	464286632	53	1,027	SH		SOLE		53	0	0
Ishares TRUST Dow Jones	COM	464287168	113	1,448	SH		SOLE		113	0	0
Ishares Tr Lehman Tips	COM	464287176	1,205	10,730	SH		SOLE		1,205	0	0
iShares S&P 500 Index	COM	464287200	665	3,148	SH		SOLE		665	0	0
iShares Tr Lehman Bd Fd	COM	464287226	3,111	28,388	SH		SOLE		3,111	0	0
iShares MSCI Emerging Markets Index	COM	464287234	2,174	51,362	SH		SOLE		2,174	0	0
Ishares Tr Gs Investop	COM	464287242	168	1,424	SH		SOLE		168	0	0
Ishares S&P North Am Fd	COM	464287374	892	22,630	SH		SOLE		892	0	0
iShares Tr S&P 500 Value	COM	464287408	617	6,532	SH		SOLE		617	0	0
iShares MSCI EAFE Index	COM	464287465	66,780	996,263	SH		SOLE		66,780	0	0
iShares Russell Midcap Value	COM	464287473	328	4,384	SH		SOLE		328	0	0
iShares Russell Mid Cap Growth	COM	464287481	1,337	13,631	SH		SOLE		1,337	0	0
iShares Russell Midcap	COM	464287499	68	394	SH		SOLE		68	0	0
iShares S&P MidCap 400 Index	COM	464287507	149	984	SH		SOLE		149	0	0
Ishares S&P Glbl Indx Fd	COM	464287572	20	250	SH		SOLE		20	0	0
iShares Russell 1000 Value	COM	464287598	2,366	22,593	SH		SOLE		2,366	0	0
iShares S&P MidCap 400 - Barra Growth	COM	464287606	38,949	230,237	SH		SOLE		38,949	0	0
iShares Russell 1000 Growth	COM	464287614	3,262	32,539	SH		SOLE		3,262	0	0
iShares Russell 2000 Value	COM	464287630	792	7,804	SH		SOLE		792	0	0
iShares Russell 2000 Growth	COM	464287648	1,112	7,430	SH		SOLE		1,112	0	0
iShares Russell 2001	COM	464287655	22,661	185,000	SH		SOLE		22,661	0	0
Ishares Russell 3000 Index	COM	464287689	536	4,271	SH		SOLE		536	0	0
iShares S&P Midcap Value	COM	464287705	93	709	SH		SOLE		93	0	0
iShares Core S&P Small Cap ETF	COM	464287804	15	125	SH		SOLE		15	0	0
iShares Core S&P Small Cap ETF Count	COM	464287804	25	217	SH		SOLE		25	0	0
Ishares S&P Smallcap Count	COM	464287879	36	306	SH		SOLE		36	0	0
iShares S&P Short Term Muni Fund Count	COM	464288158	1,700	16,099	SH		SOLE		1,700	0	0
Ishares Msci Acwi Ex US Count	COM	464288240	128	2,733	SH		SOLE		128	0	0
iShares MSCI ACWI Index Count	COM	464288257	306	4,936	SH		SOLE		306	0	0
iShares MSCI EAFE Small Cap Count	COM	464288273	1,019	19,424	SH		SOLE		1,019	0	0
iShares S&P National Muni Bond Count	COM	464288414	24	225	SH		SOLE		24	0	0
iShares FTSE Small Cap Ex-Nrth Amer Count	COM	464288497	3	58	SH		SOLE		3	0	0
Nasdaq 100 Shares Count	COM	631100104	86	800	SH		SOLE		86	0	0
Schwab US Broad Market ETF Count	COM	808524102	12	225	SH		SOLE		12	0	0
Schwab US Large Cap ETF Count	COM	808524201	75	1,490	SH		SOLE		75	0	0
Schwab US Large Cap Growth ETF Count	COM	808524300	302	5,563	SH		SOLE		302	0	0
Schwab US Large Cap Value ETF Count	COM	808524409	275	6,220	SH		SOLE		275	0	0
Schwab US Mid-Cap ETF Count	COM	808524508	63	1,455	SH		SOLE		63	0	0
Schwab US Small Cap ETF Count	COM	808524607	68	1,198	SH		SOLE		68	0	0
Schwab Emerging Markets Equity ETF Count	COM	808524706	2	72	SH		SOLE		2	0	0
Sch US Div Equity Etf Count	COM	808524797	56	1,404	SH		SOLE		56	0	0
Schwab FTSE Dev Internationanl Count	COM	808524805	234	7,391	SH		SOLE		234	0	0
Schwab US REIT ETF Count	COM	808524847	54	1,395	SH		SOLE		54	0	0
Schwab Intm US Trsr ETF Count	COM	808524854	14	253	SH		SOLE		14	0	0
Schwab Intl Small Cap ETF Count	COM	808524888	86	2,659	SH		SOLE		86	0	0
Streettracks Gold TRUST Count	COM	863307104	1,553	13,562	SH		SOLE		1,553	0	0
Ubs Ag Jersey 2040f Count	COM	902641646	58	1,500	SH		SOLE		58	0	0
Vanguard Div Apprciation Count	COM	921908844	2,197	27,069	SH		SOLE		2,197	0	0
Vanguard Intl Eqty Index Count	COM	922042775	214	4,181	SH		SOLE		214	0	0
Vanguard FTSE Emerging Markets Count	COM	922042858	18	418	SH		SOLE		18	0	0
Vanguard Reit Count	COM	922908553	618	7,776	SH		SOLE		618	0	0
Vanguard Small Cap ETf Count	COM	922908751	1,516	12,493	SH		SOLE		1,516	0	0
Vanguard Total Stock Mkt Count	COM	922908769	5,367	49,387	SH		SOLE		5,367	0	0
Ishares S&P Gsci Cmdty Count	COM	46428R107	2	100	SH		SOLE		2	0	0
Ishares ETF Count	COM	46434V803	28	1,000	SH		SOLE		28	0	0
Powershs Exch Trad Fd Tr Count	COM	73935X286	49	1,000	SH		SOLE		49	0	0
Proshs Ultrashort Lehman Count	COM	74347R297	4	75	SH		SOLE		4	0	0
Proshs Ultra Financials Count	COM	74347R743	138	926	SH		SOLE		138	0	0
Proshs Ultrashrt S&P Count	COM	74347R883	0	18	SH		SOLE		0	0	0
Proshs Ultra Silver Count	COM	74347W841	20	525	SH		SOLE		20	0	0
Rydex Etf TRUST Count	COM	78355W205	62	427	SH		SOLE		62	0	0
SPDR Trust - S&P 500 Index Count	COM	78462F103	498	2,370	SH		SOLE		498	0	0
iShares International REIT Count	COM	78463X863	3,985	90,412	SH		SOLE		3,985	0	0
iShares International Small Count	COM	78463X871	171	5,530	SH		SOLE		171	0	0
SPDR DJ Small Cap Growth Count	COM	78464A201	37,187	200,126	SH		SOLE		37,187	0	0
SPDR S&P 600 Small Cap Value ETF Count	COM	78464A300	56	533	SH		SOLE		56	0	0
SPDR DJ Wilshire Large Cap Growth Count	COM	78464A409	91,107	911,343	SH		SOLE		91,107	0	0
SPDR S&P 500 Value ETF Count	COM	78464A508	44	427	SH		SOLE		44	0	0
DJ Wilshire REIT ETF Count	COM	78464A607	1,006	11,258	SH		SOLE		1,006	0	0
S & P Mid Cap 400 Dep Rcpts Mid Cap Count	COM	78467Y107	148	537	SH		SOLE		148	0	0
Vanguard Energy ETF Count	COM	92204A306	29	250	SH		SOLE		29	0	0
Vanguard Corp Bond Etf Count	COM	92206C870	4,424	51,342	SH		SOLE		4,424	0	0
Wisdomtree TRUST ETF Count	COM	97717W448	15	500	SH		SOLE		15	0	0
Wisdomtree Europe ETF Count	COM	97717X701	32	500	SH		SOLE		32	0	0