Friedenthal Financial 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
ALPS ETF TR	Alerian MLP - ETF	00162Q866	827	43,530	SH		SOLE	N/A	0	0	43,530
Claymore Exchange Trd Fd TR	Guggenheim HY Corporate Bond 2016 - ETF	18383M415	752	27,419	SH		SOLE	N/A	0	0	27,419
I Shares	IShares Barclays 3-7 Year Treasury - ETF	464288661	614	5,042	SH		SOLE	N/A	0	0	5,042
I Shares	IShares Barclays Aggregate Bond Fund - ETF	464287226	1,075	9,822	SH		SOLE	N/A	0	0	9,822
I shares	IShares Barclays TIPS - ETF	464287176	304	2,631	SH		SOLE	N/A	0	0	2,631
iShares	IShares Core S&P - ETF	464287200	966	4,902	SH		SOLE	N/A	0	0	4,902
Ishares	I Shares IBoxx Investment Grade Corporate - ETF	464287242	339	2,845	SH		SOLE	N/A	0	0	2,845
iShares	I SHARES JP MOR EM MK ETF	464288281	323	2,805	SH		SOLE	N/A	0	0	2,805
iShares	IShares MSCI EAFE - ETF	464287465	316	4,626	SH		SOLE	N/A	0	0	4,626
iShares	I Shares MSCI ITALCPD ETF	464286855	7,399	425,728	SH		SOLE	N/A	0	0	425,728
iShares	Ishares Msci Span Cap B26 Etf"	464286764	7,645	178,531	SH		SOLE	N/A	0	0	178,531
I Shares	iShares Russell 2000 - ETF	464287655	794	6,684	SH		SOLE	N/A	0	0	6,684
I Shares	I Shares U.S. Pfd Stk ETF	464288687	9,092	227,807	SH		SOLE	N/A	0	0	227,807
I Shares	I Shares Trans Avg ETF	464287192	7,702	52,392	SH		SOLE	N/A	0	0	52,392
Powershares ETF	Powershares Emerging Market Debt - ETF	73936T573	887	30,430	SH		SOLE	N/A	0	0	30,430
Powershares ETF	Powershares High Yield Corporate - ETF	73936T557	898	45,833	SH		SOLE	N/A	0	0	45,833
Powershares ETF	Powershares Preferreds - ETF	73936T565	933	63,780	SH		SOLE	N/A	0	0	63,780
Powershares ETF	Powershares S&P 500 High Beta - ETF	73937B829	1,161	34,894	SH		SOLE	N/A	0	0	34,894
Powershares ETF	Powershares Senior Loan- ETF	73936Q769	9,138	367,448	SH		SOLE	N/A	0	0	367,448
Rydex ETF Trust	Gug S&P 500 EQWTTE	78355W817	1,122	13,392	SH		SOLE	N/A	0	0	13,392
Schwab Strategic Tr	Schwab Emerging Markets - ETF	808524706	319	12,268	SH		SOLE	N/A	0	0	12,268
Schwab Strategic Tr	Schwab Intermediate-Term Treasury - ETF	808524854	260	4,888	SH		SOLE	N/A	0	0	4,888
Schwab Strategic Tr	Schwab International Equity - ETF	808524805	362	10,969	SH		SOLE	N/A	0	0	10,969
Schwab Strategic Tr	Schwab REIT Fund - ETF	808524847	220	6,231	SH		SOLE	N/A	0	0	6,231
Schwab Strategic Tr	Schwab US Aggregate Bond Fund - ETF	808524839	553	10,664	SH		SOLE	N/A	0	0	10,664
Schwab Strategic Tr	Schwab US Broad Market - ETF	808524102	2,106	44,126	SH		SOLE	N/A	0	0	44,126
Schwab Strategic Tr	Schwab US Small Cap - ETF	808524607	1,777	32,427	SH		SOLE	N/A	0	0	32,427
Select Sector SPDR Tr	Sector SPDR Energy Select - ETF	81369Y506	7,578	75,702	SH		SOLE	N/A	0	0	75,702
Select Sector SPDR Tr	Sector SPDR Health Fund - ETF	81369Y209	7,931	130,387	SH		SOLE	N/A	0	0	130,387
Select Sector SPDR Tr	Sector SPDR Industrials - ETF	81369Y704	7,911	146,342	SH		SOLE	N/A	0	0	146,342
Select Sector SPDR Tr	Sector SPDR Materials - ETF	81369Y100	7,711	155,334	SH		SOLE	N/A	0	0	155,334
Select Sector SPDR Tr	Sector SPDR Utility Select - ETF	81369Y886	660	14,919	SH		SOLE	N/A	0	0	14,919
SPDR Series TR	SPDR Barclays Capital High Yield Bond - ETF	78464A417	8,873	212,619	SH		SOLE	N/A	0	0	212,619
SPDR Series Tr	SPDR Barclays Short-Term HY - ETF	78468R408	8,671	280,079	SH		SOLE	N/A	0	0	280,079
SPDR Series Tr	SPDR Nuvn Br Sht Muni	78464A425	234	9,605	SH		SOLE	N/A	0	0	9,605
SPDR Series Tr	SPDR S&P Oil & Gas Expl	78464A730	7,733	93,983	SH		SOLE	N/A	0	0	93,983
Vanguard Index Funds	Vanguard Emerging Market - ETF	922042858	446	10,344	SH		SOLE	N/A	0	0	10,344
Vanguard Index Funds	Vanguard European - ETF	922042874	7,465	124,519	SH		SOLE	N/A	0	0	124,519
Vanguard Index Funds	Vanguard REIT - ETF	922908553	319	4,267	SH		SOLE	N/A	0	0	4,267