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
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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	COM	464288257	282	3,936	SH		SOLE		3,936	0	0
iShares Tr Lehman Bd Fd	COM	464287226	1,640	15,289	SH		SOLE		15,289	0	0
Vanguard tOTAL Bond Index Fund	COM	921937835	155	1,938	SH		SOLE		1,938	0	0
Vanguard Total	COM	92203J407	0	3	SH		SOLE		3	0	0
Vanguard Bond Index Fund	COM	921937827	40	515	SH		SOLE		515	0	0
Saba Cef Etf	COM	30151E806	1	60	SH		SOLE		60	0	0
ISHARES CALIFORNIA MUNI BOND E TF	COM	464288356	15	264	SH		SOLE		264	0	0
iShares Select Dividend ETF	COM	464287168	176	1,852	SH		SOLE		1,852	0	0
iShares MSCI Emerging Markets Index	COM	464287234	7,117	147,411	SH		SOLE		147,411	0	0
iShares MSCI EAFE Index	COM	464287465	84,714	1,215,753	SH		SOLE		1,215,753	0	0
Ishares Msci Val Idx Fd	COM	464288877	89	1,631	SH		SOLE		1,631	0	0
Ishares Msci Israel Inx	COM	464286632	54	1,093	SH		SOLE		1,093	0	0
FIDELITY COVINGTON TRUST MSCI REAL ESATE INDEX ETF	COM	316092857	39	1,689	SH		SOLE		1,689	0	0
First TRUST Energy	COM	33734X127	93	6,505	SH		SOLE		6,505	0	0
Streettracks Gold TRUST	COM	863307104	1,824	14,503	SH		SOLE		14,503	0	0
SPDR GLOBAL NATURAL RESOURCES ETF	COM	78463X541	75	1,554	SH		SOLE		1,554	0	0
Ishares S&P Gsci Cmdty	COM	46428R107	2	100	SH		SOLE		100	0	0
iShares International Small	COM	78463X871	178	5,030	SH		SOLE		5,030	0	0
Ishares Tr Cohen & Steer	COM	449243104	28	304	SH		SOLE		304	0	0
iShares Core MSCI EAFE	COM	46432F842	480	7,283	SH		SOLE		7,283	0	0
Ishares Core Msci	COM	46434G103	54	923	SH		SOLE		923	0	0
Ishares S&P North Am Fd	COM	464287374	1,050	31,731	SH		SOLE		31,731	0	0
Ishares US	COM	464288836	15	100	SH		SOLE		100	0	0
iShares S&P MidCap 400 Index	COM	464287507	980	5,224	SH		SOLE		5,224	0	0
iShares S&P Midcap Value	COM	464287705	110	709	SH		SOLE		709	0	0
iShares S&P MidCap 400 - Barra Growth	COM	464287606	31,348	143,579	SH		SOLE		143,579	0	0
iShares Core S&P Small Cap ETF	COM	464287804	33	434	SH		SOLE		434	0	0
Ishares S&P Smallcap	COM	464287879	74	492	SH		SOLE		492	0	0
Ishares S&P Glbl Indx Fd	COM	464287572	25	271	SH		SOLE		271	0	0
iShares Core S&P Total U.S. ETF	COM	464287150	374	6,186	SH		SOLE		6,186	0	0
iShares Tr S&P 500 Value	COM	464287408	717	6,559	SH		SOLE		6,559	0	0
iShares S&P 500 Index	COM	464287200	2,335	8,800	SH		SOLE		8,800	0	0
iShares Russell 1000 Value	COM	464287598	2,683	22,366	SH		SOLE		22,366	0	0
iShares Russell 1000 Growth	COM	464287614	4,247	31,207	SH		SOLE		31,207	0	0
iShares Russell 2000	COM	464287655	43,155	284,234	SH		SOLE		284,234	0	0
iShares Russell 2000 Value	COM	464287630	676	5,549	SH		SOLE		5,549	0	0
iShares Russell 2000 Growth	COM	464287648	1,215	6,374	SH		SOLE		6,374	0	0
iShares Russell Mid Cap Growth	COM	464287481	1,585	12,895	SH		SOLE		12,895	0	0
iShares Russell Midcap	COM	464287499	81	394	SH		SOLE		394	0	0
iShares Russell Midcap Value	COM	464287473	267	3,089	SH		SOLE		3,089	0	0
Ishares Russell 3000 Index	COM	464287689	668	4,271	SH		SOLE		4,271	0	0
Ishares DJ Tech Index	COM	464287721	168	1,000	SH		SOLE		1,000	0	0
iShares Dow Jones Total Market Index	COM	464207846	116	878	SH		SOLE		878	0	0
S & P Mid Cap 400 Dep Rcpts Mid Cap	COM	78467Y107	232	679	SH		SOLE		679	0	0
Munienhanced Fund Inc	COM	09253Y100	4	416	SH		SOLE		416	0	0
Ubs Ag Jersey 2040f	COM	902641646	32	1,500	SH		SOLE		1,500	0	0
iShares S&P National Muni Bond	COM	464288414	933	8,564	SH		SOLE		8,564	0	0
Nuveen Divd Adv Muni Fd	COM	67066V101	75	5,729	SH		SOLE		5,729	0	0
Ishares S&P U S Pfd Fund	COM	464288687	8	225	SH		SOLE		225	0	0
Quality Care Propert	COM	747545101	2	100	SH		SOLE		100	0	0
Nasdaq 100 Shares	COM	631100104	245	1,530	SH		SOLE		1,530	0	0
First Tr Nasdaq 100 Fund	COM	337345102	14	186	SH		SOLE		186	0	0
Rydex Etf TRUST	COM	78355W304	78	1,200	SH		SOLE		1,200	0	0
DJ Wilshire REIT ETF	COM	78464A607	1,231	14,290	SH		SOLE		14,290	0	0
SPDR Dow Jones International Real Estate ETF	COM	78463X863	3,388	84,647	SH		SOLE		84,647	0	0
Schwab US Small Cap ETF	COM	808524607	124	1,791	SH		SOLE		1,791	0	0
Schwab US Broad Market ETF	COM	808524102	144	2,250	SH		SOLE		2,250	0	0
Schwab Intl Small Cap ETF	COM	808524888	44	1,195	SH		SOLE		1,195	0	0
Sch US Div Equity Etf	COM	808524797	196	3,995	SH		SOLE		3,995	0	0
Schwab Emerging Markets Equity ETF	COM	808524706	42	1,453	SH		SOLE		1,453	0	0
Schwab FTSE Dev International	COM	808524805	211	6,261	SH		SOLE		6,261	0	0
Schwab US Large Cap Growth ETF	COM	808524300	330	4,597	SH		SOLE		4,597	0	0
Schwab US REIT ETF	COM	808524847	67	1,764	SH		SOLE		1,764	0	0
Schwab US Mid-Cap ETF	COM	808524508	83	1,570	SH		SOLE		1,570	0	0
Schwab US TIPS ETF	COM	808524870	12	215	SH		SOLE		215	0	0
Schwab Intm US Trsr ETF	COM	808524854	21	393	SH		SOLE		393	0	0
Schwab US Large Cap Value ETF	COM	808524409	331	6,255	SH		SOLE		6,255	0	0
Schwab US Large Cap ETF	COM	808524201	184	2,913	SH		SOLE		2,913	0	0
Schwab US Aggregate Bond ETF	COM	808524839	3	59	SH		SOLE		59	0	0
iShares MSCI EAFE Small Cap	COM	464288273	1,276	19,569	SH		SOLE		19,569	0	0
Proshs Ultrashrt S&P	COM	74347R883	0	4	SH		SOLE		4	0	0
Spdr S&P Dividend Etf	COM	78464A763	188	2,061	SH		SOLE		2,061	0	0
Proshares Short S&P	COM	74347B425	118	3,900	SH		SOLE		3,900	0	0
Spdr S&P 600 Small Cap	COM	78464A813	42	315	SH		SOLE		315	0	0
SPDR DJ Small Cap Growth	COM	78464A201	23,866	102,614	SH		SOLE		102,614	0	0
SPDR S&P 600 Small Cap Value ETF	COM	78464A300	50	401	SH		SOLE		401	0	0
SPDR Short Term Corp Bond ETF	COM	78464A474	382	12,664	SH		SOLE		12,664	0	0
SPDR Trust - S&P 500 Index	COM	78462F103	827	3,144	SH		SOLE		3,144	0	0
SPDR DJ Wilshire Large Cap Growth	COM	78464A409	73,368	2,188,789	SH		SOLE		2,188,789	0	0
SPDR S&P 500 Value ETF	COM	78464A508	63	2,152	SH		SOLE		2,152	0	0
iShares S&P Short Term Muni Fund	COM	464288158	126	1,205	SH		SOLE		1,205	0	0
Proshs Ultrashort Lehman	COM	74347R297	3	75	SH		SOLE		75	0	0
Ishares Tr Lehman Tips	COM	464287176	97	862	SH		SOLE		862	0	0
Credit Suisse ETN	COM	22542D571	0	1	SH		SOLE		1	0	0
Proshs Ultra Financials	COM	74347R743	376	3,050	SH		SOLE		3,050	0	0
Vanguard Small Cap ETf	COM	922908751	1,860	12,661	SH		SOLE		12,661	0	0
Vanguard Small Cap Value	COM	922908611	12	96	SH		SOLE		96	0	0
Vanguard Corp Bond Etf	COM	92206C870	4,903	57,786	SH		SOLE		57,786	0	0
Vanguard Corp Bond Etf	COM	92206C409	1,419	18,088	SH		SOLE		18,088	0	0
Vanguard Consumr Staples ETF	COM	92204A207	71	520	SH		SOLE		520	0	0
Vanguard Energy ETF	COM	92204A306	23	250	SH		SOLE		250	0	0
Vanguard Intl Eqty Index	COM	922042775	107	1,971	SH		SOLE		1,971	0	0
Vanguard Div Apprciation	COM	921908844	2,851	28,217	SH		SOLE		28,217	0	0
Vanguard Reit	COM	922908553	716	9,493	SH		SOLE		9,493	0	0
VANGUARD CRSP US MID CAP VALUE INDE ETF	COM	922042775	2	286	SH		SOLE		286	0	0
Vanguard S&P 500 Etf	COM	922908413	64	263	SH		SOLE		263	0	0
Vanguard Total World	COM	922042742	2,082	28,280	SH		SOLE		28,280	0	0
Vanguard Total Stock Mkt	COM	922908769	6,272	46,212	SH		SOLE		46,212	0	0
Vanguard FTSE Emerging Markets	COM	922042858	25	523	SH		SOLE		523	0	0
Vanguard Whitehall Funds	COM	921946406	28	343	SH		SOLE		343	0	0
Rydex Etf TRUST	COM	78355W205	84	452	SH		SOLE		452	0	0