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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hours per response:		23.8

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
First Tr Nasdaq 100 Fund	COM	337345102	13	186	SH		SOLE		13	0	0
Ishares Tr Cohen & Steer	COM	449243104	31	304	SH		SOLE		31	0	0
iShares Dow Jones Total Market Index	COM	464207846	117	878	SH		SOLE		117	0	0
Ishares Msci Israel Inx	COM	464286632	56	1,093	SH		SOLE		56	0	0
iShares Core S&P Total U.S. ETF	COM	464287150	378	6,186	SH		SOLE		378	0	0
iShares Select Dividend ETF	COM	464287168	152	1,543	SH		SOLE		152	0	0
Ishares Tr Lehman Tips	COM	464287176	98	862	SH		SOLE		98	0	0
iShares S&P 500 Index	COM	464287200	2,366	8,800	SH		SOLE		2,366	0	0
iShares Tr Lehman Bd Fd	COM	464287226	1,872	17,119	SH		SOLE		1,872	0	0
iShares MSCI Emerging Markets Index	COM	464287234	7,533	159,861	SH		SOLE		7,533	0	0
Ishares Tr Gs Investop	COM	464287242	18	150	SH		SOLE		18	0	0
Ishares S&P North Am Fd	COM	464287374	1,125	31,745	SH		SOLE		1,125	0	0
iShares Tr S&P 500 Value	COM	464287408	806	7,059	SH		SOLE		806	0	0
iShares MSCI EAFE Index	COM	464287465	86,158	1,225,397	SH		SOLE		86,158	0	0
iShares Russell Midcap Value	COM	464287473	286	3,206	SH		SOLE		286	0	0
iShares Russell Mid Cap Growth	COM	464287481	1,556	12,895	SH		SOLE		1,556	0	0
iShares Russell Midcap	COM	464287499	82	394	SH		SOLE		82	0	0
iShares S&P MidCap 400 Index	COM	464287507	991	5,224	SH		SOLE		991	0	0
Ishares S&P Glbl Indx Fd	COM	464287572	25	271	SH		SOLE		25	0	0
iShares Russell 1000 Value	COM	464287598	2,816	22,647	SH		SOLE		2,816	0	0
iShares S&P MidCap 400 - Barra Growth	COM	464287606	32,143	148,928	SH		SOLE		32,143	0	0
iShares Russell 1000 Growth	COM	464287614	4,254	31,587	SH		SOLE		4,254	0	0
iShares Russell 2000 Value	COM	464287630	740	5,882	SH		SOLE		740	0	0
iShares Russell 2000 Growth	COM	464287648	1,190	6,374	SH		SOLE		1,190	0	0
iShares Russell 2000	COM	464287655	40,626	266,469	SH		SOLE		40,626	0	0
Ishares Russell 3000 Index	COM	464287689	676	4,271	SH		SOLE		676	0	0
iShares S&P Midcap Value	COM	464287705	114	709	SH		SOLE		114	0	0
Ishares DJ Tech Index	COM	464287721	163	1,000	SH		SOLE		163	0	0
iShares Core S&P Small Cap ETF	COM	464287804	33	434	SH		SOLE		33	0	0
Ishares S&P Smallcap	COM	464287879	76	492	SH		SOLE		76	0	0
iShares S&P Short Term Muni Fund	COM	464288158	1,578	15,045	SH		SOLE		1,578	0	0
iShares MSCI ACWI Index	COM	464288257	284	3,936	SH		SOLE		284	0	0
iShares MSCI EAFE Small Cap	COM	464288273	1,345	20,854	SH		SOLE		1,345	0	0
iShares S&P National Muni Bond	COM	464288414	899	8,120	SH		SOLE		899	0	0
Ishares S&P U S Pfd Fund	COM	464288687	9	225	SH		SOLE		9	0	0
Ishares US	COM	464288836	15	100	SH		SOLE		15	0	0
Ishares Msci Val Idx Fd	COM	464288877	90	1,631	SH		SOLE		90	0	0
Nasdaq 100 Shares	COM	631100104	132	850	SH		SOLE		132	0	0
Quality Care Propert	COM	747545101	1	100	SH		SOLE		1	0	0
Schwab US Broad Market ETF	COM	808524102	145	2,250	SH		SOLE		145	0	0
Schwab US Large Cap ETF	COM	808524201	184	2,889	SH		SOLE		184	0	0
Schwab US Large Cap Growth ETF	COM	808524300	328	4,641	SH		SOLE		328	0	0
Schwab US Large Cap Value ETF	COM	808524409	317	5,798	SH		SOLE		317	0	0
Schwab US Mid-Cap ETF	COM	808524508	82	1,545	SH		SOLE		82	0	0
Schwab US Small Cap ETF	COM	808524607	125	1,790	SH		SOLE		125	0	0
Schwab Emerging Markets Equity ETF	COM	808524706	41	1,452	SH		SOLE		41	0	0
Sch US Div Equity Etf	COM	808524797	204	3,987	SH		SOLE		204	0	0
Schwab FTSE Dev International	COM	808524805	213	6,257	SH		SOLE		213	0	0
Schwab US Aggregate Bond ETF	COM	808524839	3	58	SH		SOLE		3	0	0
Schwab US REIT ETF	COM	808524847	73	1,762	SH		SOLE		73	0	0
Schwab Intm US Trsr ETF	COM	808524854	16	293	SH		SOLE		16	0	0
Schwab US TIPS ETF	COM	808524870	12	215	SH		SOLE		12	0	0
Schwab Intl Small Cap ETF	COM	808524888	44	1,195	SH		SOLE		44	0	0
Streettracks Gold TRUST	COM	863307104	1,786	14,448	SH		SOLE		1,786	0	0
Ubs Ag Jersey 2040f	COM	902641646	36	1,500	SH		SOLE		36	0	0
Vanguard Div Apprciation	COM	921908844	2,879	28,217	SH		SOLE		2,879	0	0
Vanguard Bond Index Fund	COM	921937827	46	577	SH		SOLE		46	0	0
Vanguard tOTAL Bond Index Fund	COM	921937835	158	1,937	SH		SOLE		158	0	0
Vanguard MSCI EAFE ETF	COM	921943858	7	153	SH		SOLE		7	0	0
Vanguard Whitehall Funds	COM	921946406	29	343	SH		SOLE		29	0	0
Vanguard Total World	COM	922042742	2,100	28,280	SH		SOLE		2,100	0	0
Vanguard Intl Eqty Index	COM	922042775	108	1,971	SH		SOLE		108	0	0
Vanguard FTSE Emerging Markets	COM	922042858	24	529	SH		SOLE		24	0	0
Vanguard Reit	COM	922908553	796	9,597	SH		SOLE		796	0	0
Vanguard Small Cap Value	COM	922908611	15	115	SH		SOLE		15	0	0
Vanguard Value Etf	COM	922908744	1	5	SH		SOLE		1	0	0
Vanguard Small Cap ETf	COM	922908751	1,906	12,894	SH		SOLE		1,906	0	0
Vanguard Total Stock Mkt	COM	922908769	6,588	47,999	SH		SOLE		6,588	0	0
Credit Suisse ETN	COM	22542D571	0	1	SH		SOLE		0	0	0
Saba Cef Etf	COM	30151E806	1	60	SH		SOLE		1	0	0
First TRUST Energy	COM	33734X127	101	6,505	SH		SOLE		101	0	0
Ishares S&P Gsci Cmdty	COM	46428R107	2	100	SH		SOLE		2	0	0
iShares Core MSCI EAFE	COM	46432F842	514	7,783	SH		SOLE		514	0	0
Ishares Core Msci	COM	46434G103	53	923	SH		SOLE		53	0	0
Proshares Short S&P	COM	74347B425	118	3,900	SH		SOLE		118	0	0
Proshs Ultrashort Lehman	COM	74347R297	3	75	SH		SOLE		3	0	0
Proshs Ultra Financials	COM	74347R743	390	3,050	SH		SOLE		390	0	0
Proshs Ultrashrt S&P	COM	74347R883	0	4	SH		SOLE		0	0	0
Rydex Etf TRUST	COM	78355W205	85	450	SH		SOLE		85	0	0
Rydex Etf TRUST	COM	78355W304	80	1,200	SH		SOLE		80	0	0
SPDR Trust - S&P 500 Index	COM	78462F103	839	3,144	SH		SOLE		839	0	0
SPDR GLOBAL NATURAL RESOURCES ETF	COM	78463X541	81	1,652	SH		SOLE		81	0	0
SPDR Dow Jones Global Real Estate ETF	COM	78463X749	25	503	SH		SOLE		25	0	0
SPDR Dow Jones International Real Estate ETF	COM	78463X863	3,219	79,513	SH		SOLE		3,219	0	0
iShares International Small	COM	78463X871	178	5,030	SH		SOLE		178	0	0
SPDR DJ Small Cap Growth	COM	78464A201	23,822	104,765	SH		SOLE		23,822	0	0
SPDR S&P 600 Small Cap Value ETF	COM	78464A300	50	400	SH		SOLE		50	0	0
SPDR DJ Wilshire Large Cap Growth	COM	78464A409	73,641	2,231,537	SH		SOLE		73,641	0	0
SPDR S&P 500 Value ETF	COM	78464A508	66	2,151	SH		SOLE		66	0	0
DJ Wilshire REIT ETF	COM	78464A607	961	10,260	SH		SOLE		961	0	0
Spdr S&P Dividend Etf	COM	78464A763	195	2,061	SH		SOLE		195	0	0
Spdr S&P 600 Small Cap	COM	78464A813	42	315	SH		SOLE		42	0	0
S & P Mid Cap 400 Dep Rcpts Mid Cap	COM	78467Y107	235	679	SH		SOLE		235	0	0
Vanguard Total	COM	92203J407	0	3	SH		SOLE		0	0	0
Vanguard Consumr Staples ETF	COM	92204A207	76	520	SH		SOLE		76	0	0
Vanguard Energy ETF	COM	92204A306	25	250	SH		SOLE		25	0	0
Vanguard Corp Bond Etf	COM	92206C409	1,375	17,342	SH		SOLE		1,375	0	0
Vanguard Corp Bond Etf	COM	92206C870	5,050	57,786	SH		SOLE		5,050	0	0