Advisory Alpha 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 TR	CORE US AGGBD ET	464287226	29	266	SH		SOLE		0	0	266
JPMORGAN CHASE & CO	ALERIAN ML ETN	46625H365	1,730	60,415	SH		SOLE		0	0	60,415
LIBERTY ALL STAR GROWTH FD I	COM	529900102	2,178	367,842	SH		SOLE		0	0	367,842
POWERSHARES ETF TR II	BUILD AMER ETF	73937B407	101	3,372	SH		SOLE		0	0	3,372
BLACKROCK RES & COMM STRAT T	SHS	09257A108	2,253	226,443	SH		SOLE		0	0	226,443
BOULDER GROWTH & INCOME FD I	COM	101507101	2,275	197,661	SH		SOLE		0	0	197,661
POWERSHARES ETF TRUST II	SENIOR LN PORT	73936Q769	3,989	172,179	SH		SOLE		0	0	172,179
CLAYMORE EXCHANGE TRD FD TR	GUG BULL2018 E	18383M530	14	682	SH		SOLE		0	0	682
CLAYMORE EXCHANGE TRD FD TR	GUG BLT2018 HY	18383M381	30	1,175	SH		SOLE		0	0	1,175
CLAYMORE EXCHANGE TRD FD TR	GUG BUL 2019 HY	18383M373	6,366	260,684	SH		SOLE		0	0	260,684
CLAYMORE EXCHANGE TRD FD TR	GUG BUL 2020 HY	18383M365	6,509	265,361	SH		SOLE		0	0	265,361
CLAYMORE EXCHANGE TRD FD TR	2021 HG YLD CB	18383M225	5,909	236,927	SH		SOLE		0	0	236,927
CLAYMORE EXCHANGE TRD FD TR	2022 HG YLD CB	18383M217	4,462	178,768	SH		SOLE		0	0	178,768
CLAYMORE EXCHANGE TRD FD TR	GUGENHIM 2023	18383M183	4,406	166,877	SH		SOLE		0	0	166,877
SPDR SERIES TRUST	BRCLYS INTL ETF	78464A516	249	8,672	SH		SOLE		0	0	8,672
CLEARBRIDGE AMERN ENERG MLP	COM	184691103	1,819	198,102	SH		SOLE		0	0	198,102
ISHARES TR	CMBS ETF	46429B366	1,095	21,537	SH		SOLE		0	0	21,537
PIMCO ETF TR	INV GRD CRP BD	72201R817	213	2,036	SH		SOLE		0	0	2,036
ISHARES TR	1-3 YR CR BD ETF	464288646	41	391	SH		SOLE		0	0	391
SPDR SERIES TRUST	BRCLYS CAP CONV	78464A359	15,487	293,772	SH		SOLE		0	0	293,772
SPDR INDEX SHS FDS	MSCI ACWI EXUS	78463X848	2	38	SH		SOLE		0	0	38
POWERSHARES DB CMDTY IDX TRA	UNIT BEN INT	73935S105	63	4,022	SH		SOLE		0	0	4,022
WISDOMTREE TRUST	EMERG MKTS ETF	97717W315	41	842	SH		SOLE		0	0	842
WISDOMTREE TRUST	MIDCAP DIVI FD	97717W505	2	60	SH		SOLE		0	0	60
ISHARES TR	EAFE VALUE ETF	464288877	129	2,196	SH		SOLE		0	0	2,196
ISHARES TR	JP MOR EM MK ETF	464288281	11,016	95,630	SH		SOLE		0	0	95,630
FIRST TR EXCHANGE TRADED FD	NO AMER ENERGY	33738D101	12,419	507,942	SH		SOLE		0	0	507,942
FIDELITY	TOTAL BD ETF	316188309	836	16,827	SH		SOLE		0	0	16,827
SCHWAB STRATEGIC TR	SCHWB FDT EMK LG	808524730	34	1,046	SH		SOLE		0	0	1,046
SCHWAB STRATEGIC TR	SCHWB FDT INT LG	808524755	32	1,004	SH		SOLE		0	0	1,004
FIDELITY	MSCI RL EST ETF	316092857	696	29,511	SH		SOLE		0	0	29,511
FIDELITY	MSCI INFO TECH I	316092808	190	3,565	SH		SOLE		0	0	3,565
FIDELITY	MSCI UTILS INDEX	316092865	19	580	SH		SOLE		0	0	580
FIRST TR EXCHANGE TRADED FD	HLTH CARE ALPH	33734X143	98	1,311	SH		SOLE		0	0	1,311
FIRST TR EXCHANGE TRADED FD	TECH ALPHADEX	33734X176	9,149	165,144	SH		SOLE		0	0	165,144
FIRST TR EXCHANGE TRADED FD	ENERGY ALPHADX	33734X127	89	5,871	SH		SOLE		0	0	5,871
FIRST TR EXCHANGE TRADED FD	FINLS ALPHADEX	33734X135	5,509	170,836	SH		SOLE		0	0	170,836
FIRST TR EXCHANGE TRADED FD	INDLS PROD DUR	33734X150	3,920	93,435	SH		SOLE		0	0	93,435
FIRST TR EXCHANGE TRADED FD	UTILITIES ALPH	33734X184	1,080	42,625	SH		SOLE		0	0	42,625
FIRST TR EXCHANGE TRADED FD	MATERIALS ALPH	33734X168	87	1,921	SH		SOLE		0	0	1,921
NEW GERMANY FD INC	COM	644465106	2,118	104,039	SH		SOLE		0	0	104,039
SPDR GOLD TRUST	GOLD SHS	78463V107	127	1,045	SH		SOLE		0	0	1,045
ETFS PRECIOUS METALS BASKET	PHYS PM BASKET	26922W109	330	5,216	SH		SOLE		0	0	5,216
CLOUGH GLOBAL OPPORTUNITIES	SH BEN INT	18914E106	185	16,218	SH		SOLE		0	0	16,218
GABELLI HLTHCARE & WELLNESS	SHS BEN INT	36246K103	1,959	183,763	SH		SOLE		0	0	183,763
SPDR INDEX SHS FDS	S&P INTL SMLCP	78463X871	8,447	226,192	SH		SOLE		0	0	226,192
MARKET VECTORS ETF TR	EMKT HIYLD BD	57061R403	668	26,926	SH		SOLE		0	0	26,926
ISHARES TR	IBOXX HI YD ETF	464288513	441	5,063	SH		SOLE		0	0	5,063
PIMCO ETF TR	0-5 HIGH YIELD	72201R783	6	64	SH		SOLE		0	0	64
ISHARES TR	CORE INTL AGGR	46435G672	74	1,419	SH		SOLE		0	0	1,419
ISHARES GOLD TRUST	ISHARES	464285105	6,496	506,335	SH		SOLE		0	0	506,335
ISHARES TR	CORE MSCI EAFE	46432F842	745	10,685	SH		SOLE		0	0	10,685
ISHARES INC	CORE MSCI EMKT	46434G103	937	15,360	SH		SOLE		0	0	15,360
INDIA FD INC	COM	454089103	160	5,900	SH		SOLE		0	0	5,900
ISHARES TR	INTL TREA BD ETF	464288117	23	450	SH		SOLE		0	0	450
ISHARES TR	CORE S&P MCP ETF	464287507	648	3,315	SH		SOLE		0	0	3,315
ISHARES TR	S&P MC 400VL ETF	464287705	1,035	6,368	SH		SOLE		0	0	6,368
ISHARES TR	S&P MC 400GR ETF	464287606	582	2,579	SH		SOLE		0	0	2,579
ISHARES TR	CORE S&P SCP ETF	464287804	1,786	22,565	SH		SOLE		0	0	22,565
ISHARES TR	SP SMCP600VL ETF	464287879	898	5,727	SH		SOLE		0	0	5,727
ISHARES TR	SP SMCP600GR ETF	464287887	319	1,802	SH		SOLE		0	0	1,802
SPDR SERIES TRUST	BLOMBRG BRC TIPS	78464A656	9,705	174,356	SH		SOLE		0	0	174,356
NEW IRELAND FUND INC	COM	645673104	163	12,648	SH		SOLE		0	0	12,648
SPDR SERIES TRUST	BLMBRG BRC INTRM	78464A672	90	1,520	SH		SOLE		0	0	1,520
ISHARES TR	S&P 500 VAL ETF	464287408	641	5,385	SH		SOLE		0	0	5,385
ISHARES TR	S&P 500 INDEX	464287200	4,375	17,218	SH		SOLE		0	0	17,218
ISHARES TR	S&P 500 GRWT ETF	464287309	842	5,157	SH		SOLE		0	0	5,157
SPDR SERIES TRUST	BLOOMBERG BRCLYS	78464A417	243	6,628	SH		SOLE		0	0	6,628
ISHARES TR	IBOXX INV CPBD	464287242	71	596	SH		SOLE		0	0	596
SPDR SERIES TRUST	S&P 400 MDCP GRW	78464A821	8,310	51,132	SH		SOLE		0	0	51,132
SPDR SERIES TRUST	S&P 400 MDCP VAL	78464A839	14,488	138,774	SH		SOLE		0	0	138,774
GLOBAL X FDS	GLBL X MLP ETF	37950E473	1,853	177,007	SH		SOLE		0	0	177,007
NEUBERGER BERMAN MLP INCOME	COM	64129H104	2,136	217,036	SH		SOLE		0	0	217,036
POWERSHARES GLOBAL ETF TRUST	SOVEREIGN DEBT	73936T573	3,723	127,213	SH		SOLE		0	0	127,213
ISHARES TR	US PFD STK IDX	464288687	1,717	44,310	SH		SOLE		0	0	44,310
POWERSHARES ETF TR II	PFD PORTFOLIO	73936T565	430	29,949	SH		SOLE		0	0	29,949
POWERSHARES ETF TR II	FDM HG YLD RAFI	73936T557	1,721	91,491	SH		SOLE		0	0	91,491
SPDR SERIES TRUST	WELLS FG PFD ETF	78464A292	2,487	58,691	SH		SOLE		0	0	58,691
POWERSHARES ETF TRUST II	INTL CORP BOND	73936Q835	40	1,480	SH		SOLE		0	0	1,480
ISHARES TR	MRG RL ES CP ETF	464288539	2,983	69,981	SH		SOLE		0	0	69,981
RYDEX ETF TRUST	GUG S&P500 EQ WT	78355W833	1,610	12,746	SH		SOLE		0	0	12,746
RMR REAL ESTATE INCOME FUND	COM	76970B101	178	10,239	SH		SOLE		0	0	10,239
ROYCE MICRO-CAP TR INC	COM	780915104	2,283	239,083	SH		SOLE		0	0	239,083
ROYCE MICRO-CAP TR INC	COM	780910105	180	10,889	SH		SOLE		0	0	10,889
SPDR INDEX SHS FDS	DJ GLD RL ES ETF	78463X749	4,594	96,241	SH		SOLE		0	0	96,241
SPDR INDEX SHS FDS	DJ INTL RL ETF	78463X863	427	10,270	SH		SOLE		0	0	10,270
RYDEX ETF TRUST	GUG S&P500EQWTEN	78355W866	150	2,517	SH		SOLE		0	0	2,517
RYDEX ETF TRUST	GUG S&P500EQWTFI	78355W858	1,628	35,134	SH		SOLE		0	0	35,134
RYDEX ETF TRUST	GUG S&P500EQWTHC	78355W841	95	486	SH		SOLE		0	0	486
RYDEX ETF TRUST	GUG S&P500EQWTTE	78355W817	2,732	17,738	SH		SOLE		0	0	17,738
RYDEX ETF TRUST	GUG S&P500EQWTUT	78355W791	329	3,953	SH		SOLE		0	0	3,953
SCHWAB STRATEGIC TR	US SML CAP ETF	808524607	860	11,945	SH		SOLE		0	0	11,945
SCHWAB STRATEGIC TR	US BRD MKT ETF	808524102	6	92	SH		SOLE		0	0	92
SCHWAB STRATEGIC TR	INTL SCEQT ETF	808524888	1,718	44,691	SH		SOLE		0	0	44,691
SCHWAB STRATEGIC TR	EMRG MKTEQ ETF	808524706	2,469	81,768	SH		SOLE		0	0	81,768
SCHWAB STRATEGIC TR	INTL EQTY ETF	808524805	2,389	66,874	SH		SOLE		0	0	66,874
SCHWAB STRATEGIC TR	US LCAP GR ETF	808524300	2,343	30,994	SH		SOLE		0	0	30,994
SCHWAB STRATEGIC TR	US REIT ETF	808524847	2,910	74,114	SH		SOLE		0	0	74,114
SCHWAB STRATEGIC TR	US MID-CAP ETF	808524508	762	13,830	SH		SOLE		0	0	13,830
SCHWAB STRATEGIC TR	SHT TM US TRES	808524862	588	11,777	SH		SOLE		0	0	11,777
SCHWAB STRATEGIC TR	US TIPS ETF	808524870	1,903	34,740	SH		SOLE		0	0	34,740
SCHWAB STRATEGIC TR	US LCAP VA ETF	808524409	1,870	32,827	SH		SOLE		0	0	32,827
SCHWAB STRATEGIC TR	US LRG CAP ETF	808524201	1,572	23,375	SH		SOLE		0	0	23,375
SCHWAB STRATEGIC TR	US AGGREGATE B	808524839	2,578	50,145	SH		SOLE		0	0	50,145
ISHARES TR	MSCI SMALL CAP	464288273	472	6,936	SH		SOLE		0	0	6,936
SPDR SERIES TRUST	S&P DIVID ETF	78464A763	2	16	SH		SOLE		0	0	16
ETFS GOLD TR	SHS BEN INT	26922Y105	977	7,481	SH		SOLE		0	0	7,481
SPDR SER TR	NUVEEN BLMBRG SR	78468R739	5	99	SH		SOLE		0	0	99
ISHARES TR	BARLYS 1-3 YR	464287457	469	5,549	SH		SOLE		0	0	5,549
ISHARES TR	0-5YR HI YL CP	46434V407	7,912	167,561	SH		SOLE		0	0	167,561
SPDR SER TR	CAP S/T HI YLD	78468R408	738	26,380	SH		SOLE		0	0	26,380
ISHARES SILVER TRUST	ISHARES	46428Q109	42	2,661	SH		SOLE		0	0	2,661
SPDR SERIES TRUST	S&P 600 SMCP GRW	78464A201	5,974	25,250	SH		SOLE		0	0	25,250
SPDR SERIES TRUST	S&P 600 SMCP VAL	78464A300	13,813	107,640	SH		SOLE		0	0	107,640
SALIENT MIDSTREAM & MLP FD	SH BEN INT	79471V105	2,063	181,421	SH		SOLE		0	0	181,421
SPDR SERIES TRUST	PORTFOLIO AGRGTE	78464A649	12,045	424,716	SH		SOLE		0	0	424,716
SPDR INDEX SHS FDS	PORTFOLIO DEVLPD	78463X889	9,487	285,240	SH		SOLE		0	0	285,240
SPDR INDEX SHS FDS	PORTFOLIO EMG MK	78463X509	14,720	356,932	SH		SOLE		0	0	356,932
ISHARES TR	BRCLYS TIPS BD	464287176	657	5,789	SH		SOLE		0	0	5,789
VANGUARD INDEX FDS	SMALL CP ETF	922908751	2,299	16,266	SH		SOLE		0	0	16,266
VANGUARD SCOTTSDALE FDS	SHRT-TERM CORP	92206C409	1,855	23,145	SH		SOLE		0	0	23,145
VANGUARD TAX MANAGED INTL FD	MSCI EAFE ETF	921943858	2,807	64,652	SH		SOLE		0	0	64,652
VANGUARD SCOTTSDALE FDS	MORTG-BACK SEC	92206C771	1,063	20,134	SH		SOLE		0	0	20,134
VANGUARD INDEX FDS	MID CAP ETF	922908629	2,157	14,675	SH		SOLE		0	0	14,675
VANGUARD INTL EQUITY INDEX F	FTSE SMCAP ETF	922042718	2,197	19,119	SH		SOLE		0	0	19,119
VANGUARD INTL EQUITY INDEX F	MSCI EMF MKT ETF	922042858	1,290	29,602	SH		SOLE		0	0	29,602
SPDR SERIES TRUST	DB INT GVT ETF	78464A490	31	536	SH		SOLE		0	0	536