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

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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
iShares MSCI ACWI Index Total	COM	464288257	277	4,936	SH		SOLE		277	0	0
iShares Tr Lehman Bd Fd Total	COM	464287226	1,589	14,341	SH		SOLE		1,589	0	0
Vanguard Bond Index Fund Total	COM	921937827	42	515	SH		SOLE		42	0	0
Ishares TRUST Dow Jones Total	COM	464287168	114	1,393	SH		SOLE		114	0	0
iShares MSCI Emerging Markets Index Total	COM	464287234	5,445	158,989	SH		SOLE		5,445	0	0
iShares MSCI EAFE Index Total	COM	464287465	60,865	1,064,814	SH		SOLE		60,865	0	0
Ishares Msci Israel Inx Total	COM	464286632	50	1,053	SH		SOLE		50	0	0
Streettracks Gold TRUST Total	COM	863307104	1,398	11,882	SH		SOLE		1,398	0	0
Ishares S&P Gsci Cmdty Total	COM	46428R107	1	100	SH		SOLE		1	0	0
iShares International Small Total	COM	78463X871	144	5,030	SH		SOLE		144	0	0
Ishares Tr Cohen & Steer Total	COM	449243104	39	376	SH		SOLE		39	0	0
iShares FTSE Small Cap Ex-Nrth Amer Total	COM	464288497	3	58	SH		SOLE		3	0	0
Ishares S&P North Am Fd Total	COM	464287374	921	30,971	SH		SOLE		921	0	0
Ishares US Total	COM	464288836	14	100	SH		SOLE		14	0	0
iShares S&P MidCap 400 Index Total	COM	464287507	142	984	SH		SOLE		142	0	0
iShares S&P Midcap Value Total	COM	464287705	88	709	SH		SOLE		88	0	0
iShares S&P MidCap 400 - Barra Growth Total	COM	464287606	36,393	223,805	SH		SOLE		36,393	0	0
iShares Core S&P Small Cap ETF Total	COM	464287804	24	217	SH		SOLE		24	0	0
Ishares S&P Smallcap Total	COM	464287879	35	306	SH		SOLE		35	0	0
Ishares S&P Glbl Indx Fd Total	COM	464287572	18	257	SH		SOLE		18	0	0
iShares Tr S&P 500 Value Total	COM	464287408	587	6,532	SH		SOLE		587	0	0
iShares S&P 500 Index Total	COM	464287200	556	2,692	SH		SOLE		556	0	0
iShares Russell 1000 Index Total	COM	434287622	15	130	SH		SOLE		15	0	0
iShares Russell 1000 Value Total	COM	464287598	2,377	24,053	SH		SOLE		2,377	0	0
iShares Russell 1000 Growth Total	COM	464287614	3,223	32,305	SH		SOLE		3,223	0	0
iShares Russell 2000 Total	COM	464287655	22,733	205,485	SH		SOLE		22,733	0	0
iShares Russell 2000 Value Total	COM	464287630	690	7,401	SH		SOLE		690	0	0
iShares Russell 2000 Growth Total	COM	464287648	965	7,277	SH		SOLE		965	0	0
iShares Russell Mid Cap Growth Total	COM	464287481	1,245	13,509	SH		SOLE		1,245	0	0
iShares Russell Midcap Total	COM	464287499	64	394	SH		SOLE		64	0	0
iShares Russell Midcap Value Total	COM	464287473	279	3,931	SH		SOLE		279	0	0
Ishares Russell 3000 Index Total	COM	464287689	516	4,271	SH		SOLE		516	0	0
Ishares Tr Gs Investop Total	COM	464287242	159	1,334	SH		SOLE		159	0	0
S & P Mid Cap 400 Dep Rcpts Mid Cap Total	COM	78467Y107	141	537	SH		SOLE		141	0	0
Ubs Ag Jersey 2040f Total	COM	902641646	36	1,500	SH		SOLE		36	0	0
iShares S&P National Muni Bond Total	COM	464288414	760	6,809	SH		SOLE		760	0	0
Monaker Group Inc Total	COM	609011101	1	400	SH		SOLE		1	0	0
Nasdaq 100 Shares Total	COM	631100104	93	850	SH		SOLE		93	0	0
First Tr Nasdaq 100 Fund Total	COM	337345102	8	186	SH		SOLE		8	0	0
DJ Wilshire REIT ETF Total	COM	78464A607	1,024	10,763	SH		SOLE		1,024	0	0
iShares International REIT Total	COM	78463X863	3,643	87,861	SH		SOLE		3,643	0	0
Schwab US Small Cap ETF Total	COM	808524607	79	1,527	SH		SOLE		79	0	0
Schwab Intl Small Cap ETF Total	COM	808524888	42	1,443	SH		SOLE		42	0	0
Sch US Div Equity Etf Total	COM	808524797	58	1,447	SH		SOLE		58	0	0
Schwab FTSE Dev Internationanl Total	COM	808524805	112	4,113	SH		SOLE		112	0	0
Schwab US Large Cap Growth ETF Total	COM	808524300	275	5,238	SH		SOLE		275	0	0
Schwab US REIT ETF Total	COM	808524847	46	1,111	SH		SOLE		46	0	0
Schwab US Mid-Cap ETF Total	COM	808524508	59	1,455	SH		SOLE		59	0	0
Schwab US TIPS ETF Total	COM	808524870	11	200	SH		SOLE		11	0	0
Schwab Intm US Trsr ETF Total	COM	808524854	16	293	SH		SOLE		16	0	0
Schwab US Large Cap Value ETF Total	COM	808524409	269	6,220	SH		SOLE		269	0	0
Schwab US Large Cap ETF Total	COM	808524201	129	2,640	SH		SOLE		129	0	0
Spider Barclays Short Term Total	COM	78464A474	833	27,195	SH		SOLE		833	0	0
iShares MSCI EAFE Small Cap Total	COM	464288273	952	19,115	SH		SOLE		952	0	0
Proshs Ultrashrt S&P Total	COM	74347R883	0	18	SH		SOLE		0	0	0
Spdr S&P 600 Small Cap Total	COM	78464A813	32	315	SH		SOLE		32	0	0
SPDR DJ Small Cap Growth Total	COM	78464A201	27,866	161,233	SH		SOLE		27,866	0	0
SPDR S&P 600 Small Cap Value ETF Total	COM	78464A300	37	384	SH		SOLE		37	0	0
SPDR Trust - S&P 500 Index Total	COM	78462F103	442	2,150	SH		SOLE		442	0	0
SPDR DJ Wilshire Large Cap Growth Total	COM	78464A409	89,546	890,736	SH		SOLE		89,546	0	0
SPDR S&P 500 Value ETF Total	COM	78464A508	47	477	SH		SOLE		47	0	0
iShares S&P Short Term Muni Fund Total	COM	464288158	1,706	16,069	SH		SOLE		1,706	0	0
Proshs Ultrashort Lehman Total	COM	74347R297	3	75	SH		SOLE		3	0	0