Estate Counselors 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
ADVANTAGE OIL & GAS LTD COM NPV ISIN #CA00765F1018 SEDOL #B66PKS8	COM	00765F101	117	30,060	SH		SOLE		0	0	30,060
ISHARES CORE TOTAL US BOND MARKET ETF	ETF	464287226	7,135	66,560	SH		SOLE		0	0	66,560
POWERSHARES EXCHANGE TRADED FD TR II SENIOR LN PORT NYSE ARCA INC	ETF	73936Q769	453	18,300	SH		SOLE		0	0	18,300
VANGUARD BD INDEX FD INC SHORT TERM BD ETF	ETF	921937827	1,053	13,140	SH		SOLE		0	0	13,140
SPDR SERIES TRUST BARCLAYS INTL ETF	ETF	78464A516	3,402	60,040	SH		SOLE		0	0	60,040
SPDR SERIES TRUST SHRT INTL ETF	ETF	78464A334	5,263	150,730	SH		SOLE		0	0	150,730
CALAMOS CONV OPPORTU NITIES & INCOME FD	COM	128117108	292	23,220	SH		SOLE		0	0	23,220
ISHARES BARCLAYS INTERMEDIATE CR BD FD	ETF	464288638	6,253	58,065	SH		SOLE		0	0	58,065
SPDR SER TR BARCLAYS CONV SECS ETF	ETF	78464A359	229	5,380	SH		SOLE		0	0	5,380
POWERSHARES DB MULTI SECTOR COMMODITY TR POWER SHARES DB AGRIC FD COM UNIT	ETF	73936B408	484	19,150	SH		SOLE		0	0	19,150
POWERSHARES DB MULTI SECTOR COMMODITY TR POWER SHARES DB GOLD FD COM UNIT	ETF	73936B606	3,592	88,710	SH		SOLE		0	0	88,710
ISHARES TR DOW JONES SELECT DIVID INDEX FD	ETF	464287168	427	6,657	SH		SOLE		0	0	6,657
SPDR GOLD TR GOLD SHS	ETF	78463V107	3,643	31,420	SH		SOLE		0	0	31,420
ISHARES TR COHEN & STEERS REALTY MAJORS INDEX FD	ETF	464287564	258	3,181	SH		SOLE		0	0	3,181
ISHARES TR DOW JONES EPAC SELECT DIVIDEND INDEX FD	ETF	464288448	763	23,850	SH		SOLE		0	0	23,850
ISHARES TR DOW JONES US PHARMACEUTICALS INDEX FD	ETF	464288836	1,908	19,005	SH		SOLE		0	0	19,005
ISHARES CORE S&P MID-CAP ETF	ETF	464287507	739	6,370	SH		SOLE		0	0	6,370
ISHARES CORE S&P SMALL-CAP ETF	ETF	464287804	1,295	14,282	SH		SOLE		0	0	14,282
SPDR SER TR BARCLAYS CAP TIPS ETF	ETF	78464A656	1,514	27,310	SH		SOLE		0	0	27,310
ISHARES TR RUSSELL 1000 VALUE INDEX FD	ETF	464287598	1,828	21,727	SH		SOLE		0	0	21,727
ISHARES TR RUSSELL 2000 INDEX FD	ETF	464287655	12,310	126,174	SH		SOLE		0	0	126,174
ISHARES TR RUSSELL MIDCAP INDEX FD	ETF	464287499	1,061	8,140	SH		SOLE		0	0	8,140
ISHARES TR S&P GLOBAL HEALTHCARE SECTOR INDEX FD	ETF	464287325	649	8,650	SH		SOLE		0	0	8,650
ISHARES TR S&P GLOBAL TELECOMMUNICATIONS SECTOR INDEX FD	ETF	464287275	439	7,400	SH		SOLE		0	0	7,400
ISHARES TR DOW JONES U S ENERGY SECTOR INDEX FD	ETF	464287796	324	7,250	SH		SOLE		0	0	7,250
ISHARES TR DOW JONES U S REAL ESTATE INDEX FD	ETF	464287739	7,637	114,470	SH		SOLE		0	0	114,470
ISHARES TR S&P GLOBAL UTILITIES INDEX FD	ETF	464288711	277	6,620	SH		SOLE		0	0	6,620
ISHARES IBOXX $ INVESTOP INVESTMENT GRADE CORP BD FUND	ETF	464287242	4,222	37,130	SH		SOLE		0	0	37,130
SPDR S&P MIDCAP 400 ETF TR UNIT SER 1 STANDARD & POORS DEP RCPT	ETF	78467Y107	2,392	11,315	SH		SOLE		0	0	11,315
ISHARES S&P NATL AMT FREE MUNI BND FND	ETF	464288414	10,301	97,280	SH		SOLE		0	0	97,280
POWERSHARES EXCHANGE TRADED FD TR DYNAMIC FOOD & BEVERAGE PORTFOLIO	ETF	73935X849	631	25,850	SH		SOLE		0	0	25,850
ISHARES TR S&P U S PFD STK INDEX FD	ETF	464288687	435	11,100	SH		SOLE		0	0	11,100
POWERSHARES EXCHANGE TRADED FD TR DYNAMIC PHARMACEUTICALS PORTFOLIO	ETF	73935X799	601	14,170	SH		SOLE		0	0	14,170
POWERSHARES GLOBAL EXCHANGE TRADED I-30 LADDERED TREASURY PORTFOLIO ISIN #US73936T5240 SEDOL #B68TXM3	ETF	73936T524	3,350	109,520	SH		SOLE		0	0	109,520
POWERSHARES QQQ TR UNIT SER 1	ETF	73935A104	13,322	187,190	SH		SOLE		0	0	187,190
ROUNDYS INC COM USD0.01	COM	779268101	348	41,883	SH		SOLE		0	0	41,883
SPDR SER TR NUVEEN BARCLAYS SHORT TERM MUN BD ETF	ETF	78464A425	885	36,840	SH		SOLE		0	0	36,840
ISHARES BARCLAYS 1-3 YEAR TREASURY BD FD	ETF	464287457	3,627	43,030	SH		SOLE		0	0	43,030
SPDR S&P 500 ETF TRUST UNIT SER 1 S&P	ETF	78462F103	13,714	85,137	SH		SOLE		0	0	85,137
ISHARES BARCLAYS TREAS INFLATION PROTECTED SECS FD	ETF	464287176	8,545	76,544	SH		SOLE		0	0	76,544
TORTOISE ENERGY CAP CORP COM	COM	89147U100	505	14,500	SH		SOLE		0	0	14,500
POWERSHARES DB U S DLR INDEX TR POWERSHARES DB US$ INDEX BULLISH FD COM UNIT	ETF	73936D107	6,063	269,355	SH		SOLE		0	0	269,355
VANGUARD INDEX FDS VANGUARD SMALL CAP VIPERS FORMERLY VANGUARD INDEX TR	ETF	922908751	2,411	25,649	SH		SOLE		0	0	25,649
VANGUARD SCOTTSDALE FDS SHORT TERM CORP	ETF	92206C409	10,153	128,260	SH		SOLE		0	0	128,260
VANGUARD SECTOR INDEX FDS VANGUARD CONSUMER STAPLES VIPERS	ETF	92204A207	7,950	77,590	SH		SOLE		0	0	77,590
VANGUARD SPECIALIZED PORTFOLIOS DIV APPRECIATION INDEX FD VIPER SHS	ETF	921908844	695	10,440	SH		SOLE		0	0	10,440
VANGUARD MORTGAGE BACKED SECURITIES ETF	ETF	92206C771	343	6,705	SH		SOLE		0	0	6,705
VANGUARD INDEX FDS VANGUARD REIT ETF FORMERLY VANGUARD INDEX TR TO 05/24/01 REIT VIPER SHS	ETF	922908553	213	3,075	SH		SOLE		0	0	3,075
VANGUARD INDEX FDS VANGUARD MID CAP VIPERS FORMERLY VANGUARD INDEX TR	ETF	922908629	10,293	107,851	SH		SOLE		0	0	107,851
VANGUARD SECTOR INDEX FDS VANGUARD UTILS VIPERS	ETF	92204A876	1,192	14,570	SH		SOLE		0	0	14,570
VANGUARD INDEX FDS VANGUARD TOTAL STK MKT ETF	ETF	922908769	312	3,760	SH		SOLE		0	0	3,760
SPDR SER TR DB INTL GOVT INFLATION PROTECTED	ETF	78464A490	5,155	89,370	SH		SOLE		0	0	89,370
SECTOR SPDR TR SHS BEN INT ENERGY	ETF	81369Y506	2,323	29,547	SH		SOLE		0	0	29,547
SECTOR SPDR TR SHS BEN INT CONSUMER STAPLES	ETF	81369Y308	1,108	27,765	SH		SOLE		0	0	27,765
SECTOR SPDR TR SHS BEN INT UTILITIES	ETF	81369Y886	12,535	333,902	SH		SOLE		0	0	333,902
SELECT SECTOR SPDR TR HEALTH CARE FORMERLY CONSUMER SVCS TO 06/24/2002	ETF	81369Y209	2,330	48,560	SH		SOLE		0	0	48,560
SPDR SER TR S&P PHARMACEUTICALS ETF	ETF	78464A722	8,354	118,300	SH		SOLE		0	0	118,300