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
ISHARES INC MSCI ALL CTY WRLD MIN ETF	CNTRY MIN VL ETF	464286525	795	11,850	SH		SOLE	NONE	0	0	11,850
ISHARES CORE U.S. AGGREGATE BOND ETF	CORE US AGGBD ET	464287226	1,832	16,730	SH		SOLE	NONE	0	0	16,730
POWERSHARES EXCHANGE TRADED FD TR II SENIOR LN PORT NYSE ARCA INC	SENIOR LN PORT	73936Q769	426	18,500	SH		SOLE	NONE	0	0	18,500
VANGUARD BD INDEX FD INC TOTAL BD MARKET ETF	TOTAL BND MRKT	921937835	470	5,740	SH		SOLE	NONE	0	0	5,740
VANGUARD CHARLOTTE TOTAL INTL BD INDEX FD ETF	INTL BD IDX ETF	92203J407	12,326	232,680	SH		SOLE	NONE	0	0	232,680
ISHARES TR INTERM CR BD ETF	INTERM CR BD ETF	464288638	14,823	136,575	SH		SOLE	NONE	0	0	136,575
ISHARES SELECT DIVIDEND ETF	SELECT DIVID ETF	464287168	380	5,225	SH		SOLE	NONE	0	0	5,225
ISHARES MSCI EMERGING MARKETS ETF	MSCI EMG MKT ETF	464287234	12,255	371,600	SH		SOLE	NONE	0	0	371,600
ISHARES TRUST MSCI EAFE MIN VOLATIL ETF	EAFE MIN VOL ETF	46429B689	14,532	232,110	SH		SOLE	NONE	0	0	232,110
ISHARES TRUST CORE US TREASURY BOND ETF	CORE US TR BD	46429B267	1,671	65,800	SH		SOLE	NONE	0	0	65,800
ISHARES TR IBOXX HI YD ETF	IBOXX HI YD ETF	464288513	1,551	18,760	SH		SOLE	NONE	0	0	18,760
PIMCO ETF TRUST 0-5 YR HIGH YLD CORP BD IDX ETF	0-5 HIGH YIELD	72201R783	11,471	121,285	SH		SOLE	NONE	0	0	121,285
ISHARES TR INTL SEL DIV ETF	INTL SEL DIV ETF	464288448	1,221	43,100	SH		SOLE	NONE	0	0	43,100
ISHARES TR U.S. PHARMA ETF	U.S. PHARMA ETF	464288836	1,757	11,965	SH		SOLE	NONE	0	0	11,965
ISHARES CORE S&P MID-CAP ETF	CORE S&P MCP ETF	464287507	433	3,175	SH		SOLE	NONE	0	0	3,175
ISHARES CORE S&P SMALL-CAP ETF	CORE S&P SCP ETF	464287804	10,150	95,472	SH		SOLE	NONE	0	0	95,472
ISHARES S&P SMALLCAP 600 VALUE ETF	SP SMCP600VL ETF	464287879	747	7,150	SH		SOLE	NONE	0	0	7,150
ISHARES S&P 500 VALUE ETF	S&P 500 VAL ETF	464287408	759	9,020	SH		SOLE	NONE	0	0	9,020
ISHARES RUSSELL 1000 VALUE ETF	RUS 1000 VAL ETF	464287598	5,544	59,330	SH		SOLE	NONE	0	0	59,330
ISHARES RUSSELL 2000 ETF	RUSSELL 2000 ETF	464287655	2,038	18,730	SH		SOLE	NONE	0	0	18,730
ISHARES RUSSELL 2000 VALUE ETF	RUS 2000 VAL ETF	464287630	790	8,780	SH		SOLE	NONE	0	0	8,780
ISHARES TR RUS MID-CAP ETF ISIN #US4642874998 SEDOL #B4ZD2Y9	RUS MID-CAP ETF	464287499	1,696	10,925	SH		SOLE	NONE	0	0	10,925
ISHARES U S ENERGY ETF	U.S. ENERGY ETF	464287796	2,169	62,300	SH		SOLE	NONE	0	0	62,300
ISHARES U S REAL ESTATE ETF	U.S. REAL ES ETF	464287739	4,360	61,350	SH		SOLE	NONE	0	0	61,350
ISHARES IBOXX INVESTMENT GRADE CORPORATE BOND ETF	IBOXX INV CP ETF	464287242	5,908	51,000	SH		SOLE	NONE	0	0	51,000
ISHARES TR MBS ETF	MBS ETF	464288588	10,778	98,400	SH		SOLE	NONE	0	0	98,400
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP ISIN #US78467Y1073 SEDOL #2550688	UTSER1 S&PDCRP	78467Y107	1,856	7,470	SH		SOLE	NONE	0	0	7,470
MARKET VECTORS ETF TR AGRIBUSINESS ETF	AGRIBUS ETF	57060U605	3,942	86,000	SH		SOLE	NONE	0	0	86,000
ISHARES TRUST MSCI USA MOMENTUM FACTOR ETF ISIN #US46432F3964 SEDOL #B94W3K5	MSCI USAMOMFCT	46432F396	1,572	23,100	SH		SOLE	NONE	0	0	23,100
ISHARES TR NAT AMT FREE BD	NAT AMT FREE BD	464288414	13,392	122,395	SH		SOLE	NONE	0	0	122,395
POWERSHARES EXCHANGE TRADED FDS TST WILDER HILL CLEAN ENERGY P/F ISIN #US73935X5005 SEDOL #B621PV8	WNDRHLL CLN EN	73935X500	51	12,560	SH		SOLE	NONE	0	0	12,560
ISHARES TR U.S. PFD STK ETF	U.S. PFD STK ETF	464288687	916	23,840	SH		SOLE	NONE	0	0	23,840
POWERSHARES EXCHANGE TRADED FD TR DYNAMIC PHARMACEUTICALS PORTFOLIO	DYN PHRMA PORT	73935X799	2,946	44,585	SH		SOLE	NONE	0	0	44,585
POWERSHARES GLOBAL EXCHANGE TRADED I-30 LADDERED TREASURY PORTFOLIO ISIN #US73936T5240 SEDOL #B68TXM3	I-30 LAD TREAS	73936T524	2,894	87,800	SH		SOLE	NONE	0	0	87,800
POWERSHARES EXCHANGE TRADED FDS TST FTSE RAFI US 1500 SMALL-MID PORTFOLIO ISIN #US73935X5674 SEDOL #B63YR87	FTSE US1500 SM	73935X567	747	8,150	SH		SOLE	NONE	0	0	8,150
POWERSHARES QQQ TR UNIT SER 1	UNIT SER 1	73935A104	8,726	86,150	SH		SOLE	NONE	0	0	86,150
SPDR SER TR S&P DIVID ETF	S&P DIVID ETF	78464A763	876	12,150	SH		SOLE	NONE	0	0	12,150
ISHARES 1-3 YEAR TREASURY BOND ETF	1-3 YR TR BD ETF	464287457	7,027	82,710	SH		SOLE	NONE	0	0	82,710
POWERSHARES EXCH TRADED FD TST II S&P 500 LOW VOLATILITY PORT	S&P500 LOW VOL	73937B779	800	22,300	SH		SOLE	NONE	0	0	22,300
SPDR S&P 500 ETF TRUST UNIT SER 1 S&P	TR UNIT	78462F103	13,259	69,220	SH		SOLE	NONE	0	0	69,220
ISHARES TIPS BOND ETF	TIPS BD ETF	464287176	2,067	18,600	SH		SOLE	NONE	0	0	18,600
ISHARES TRUST MSCI USA MINVOLATILITY ETF	USA MIN VOL ETF	46429B697	13,062	330,350	SH		SOLE	NONE	0	0	330,350
VANGUARD INDEX FDS VANGUARD SMALL CAP VIPERS FORMERLY VANGUARD INDEX TR	SMALL CP ETF	922908751	2,294	21,310	SH		SOLE	NONE	0	0	21,310
VANGUARD SCOTTSDALE FDS SHORT TERM CORP	SHRT TRM CORP BD	92206C409	11,079	139,265	SH		SOLE	NONE	0	0	139,265
VANGUARD SECTOR INDEX FDS VANGUARD CONSUMER STAPLES VIPERS	CONSUM STP ETF	92204A207	3,494	28,850	SH		SOLE	NONE	0	0	28,850
VANGUARD SECTOR INDEX FDS VANGUARD HEALTH CARE VIPERS	HEALTH CAR ETF	92204A504	794	6,520	SH		SOLE	NONE	0	0	6,520
VANGUARD SPECIALIZED PORTFOLIOS DIV APPRECIATION INDEX FD VIPER SHS	DIV APP ETF	921908844	533	7,240	SH		SOLE	NONE	0	0	7,240
VANGUARD INDEX FDS VANGUARD REIT ETF FORMERLY VANGUARD INDEX TR TO 05/24/01 REIT VIPER SHS	REIT ETF	922908553	2,817	37,235	SH		SOLE	NONE	0	0	37,235
VANGUARD INDEX FDS VANGUARD MID CAP VIPERS FORMERLY VANGUARD INDEX TR	MID CAP ETF	922908629	1,533	13,160	SH		SOLE	NONE	0	0	13,160
VANGUARD INDEX FDS MID-CAP VALUE INDEX VIPER SHS	MCAP VL IDXVIP	922908512	764	9,180	SH		SOLE	NONE	0	0	9,180
VANGUARD SECTOR INDEX FDS VANGUARD UTILS VIPERS	UTILITIES ETF	92204A876	815	8,770	SH		SOLE	NONE	0	0	8,770
VANGUARD INDEX FDS VANGUARD TOTAL STK MKT ETF	TOTAL STK MKT	922908769	209	2,125	SH		SOLE	NONE	0	0	2,125
VANGUARD INTL EQUITY INDEX FDS FTSE EMERGING MKTS ETF	FTSE EMR MKT ETF	922042858	489	14,720	SH		SOLE	NONE	0	0	14,720
VANGUARD WHITEHALL FDS HIGH DIVIDEND YIELD ETF SHS	HIGH DIV YLD	921946406	769	12,280	SH		SOLE	NONE	0	0	12,280
SECTOR SPDR TR SHS BEN INT ENERGY	SBI INT-ENERGY	81369Y506	2,255	36,295	SH		SOLE	NONE	0	0	36,295
SECTOR SPDR TR SHS BEN INT INDUSTRIAL	SBI INT-INDS	81369Y704	583	11,700	SH		SOLE	NONE	0	0	11,700
SECTOR SPDR TR SHS BEN INT CONSUMER STAPLES	SBI CONS STPLS	81369Y308	515	10,930	SH		SOLE	NONE	0	0	10,930
SECTOR SPDR TR SHS BEN INT UTILITIES	SBI INT-UTILS	81369Y886	6,447	149,035	SH		SOLE	NONE	0	0	149,035
SELECT SECTOR SPDR TR HEALTH CARE FORMERLY CONSUMER SVCS TO 06/24/2002	SBI HEALTHCARE	81369Y209	8,628	130,690	SH		SOLE	NONE	0	0	130,690
SELECT SECTOR SPDR TR CONSUMER DISCRETIONARY FORMERLY CYCLICAL/ TRANSN TO 06/24/2002	SBI CONS DISCR	81369Y407	4,682	63,260	SH		SOLE	NONE	0	0	63,260
POWERSHARES EXCH TRADED FD TST II S&P 400 LOW VOLATILITY PORT	S&P400 LOVL PT	73937B647	798	24,550	SH		SOLE	NONE	0	0	24,550
SPDR SER TR S&P PHARMACEUTICALS ETF	S&P PHARMAC	78464A722	2,989	64,400	SH		SOLE	NONE	0	0	64,400
POWERSHARES EXCH TRADED FD TST II S&P 600 LOW VOLATILITY PORTFOLIO	S&P600 LOVL PT	73937B639	797	24,650	SH		SOLE	NONE	0	0	24,650