Merriman

Merriman as of Dec. 31, 2011

Portfolio Holdings for Merriman

Merriman holds 0 positions in its portfolio as reported in the December 2011 quarterly 13F filing

                FORM 13F INFORMATION TABLE
                                                           VALUE   SHARES/  SH/ PUT/ INVSTMT    OTHER          VOTING AUTHORITY
        NAME OF ISSUER          TITLE OF CLASS    CUSIP   (x$1000) PRN AMT  PRN CALL DSCRETN   MANAGERS     SOLE    SHARED    NONE
------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- --------
{S}                            {C}              {C}       {C}      {C}      {C} {C}  {C}     {C}          {C}      {C}      {C}
Eaton Vance Enhanced Equity    ETF              278274105      562   55229 SH       SOLE                55229                  0
Eaton Vance Enhanced Equity II ETF              278277108      245   24000 SH       SOLE                24000                  0
Eaton Vance Tax Managed Divers ETF              27828N102     1572  177258 SH       SOLE               174758               2500
Eaton Vance Tax Managed Global ETF              27829F108      484   58629 SH       SOLE                58629                  0
Eaton Vance Tax-Mgd Global Buy ETF              27829C105      103   10000 SH       SOLE                10000                  0
iShares Cohen & Steer Realty   ETF              464287564     1529   21781 SH       SOLE                    0              21781
iShares Dow Jones Select Divid ETF              464287168    12539  233198 SH       SOLE                    0             233198
iShares FTSE China 25 Index    ETF              464287184      316    9050 SH       SOLE                 9000                 50
iShares iBoxx High Yield Corpo ETF              464288513     1453   16249 SH       SOLE                    0              16249
iShares JPMorgan USD Emerging  ETF              464288281     1431   13038 SH       SOLE                    0              13038
iShares Lehman 7-10 Treasury B ETF              464287440     9847   93279 SH       SOLE                    0              93279
iShares Lehman TIPS Bond       ETF              464287176    11180   95806 SH       SOLE                    0              95806
iShares Lehman US Aggregate Bo ETF              464287226    10547   95666 SH       SOLE                    0              95666
iShares MSCI Australia         ETF              464286103      304   14200 SH       SOLE                14200                  0
iShares MSCI Brazil            ETF              464286400      317    5530 SH       SOLE                 5500                 30
iShares MSCI EAFE Small Cap    ETF              464288273     1292   37160 SH       SOLE                    0              37160
iShares MSCI Korea Index       ETF              464286772      308    5900 SH       SOLE                 5900                  0
iShares MSCI Malaysia          ETF              464286830      320   23900 SH       SOLE                23900                  0
iShares MSCI Mexico            ETF              464286822      269    5000 SH       SOLE                 5000                  0
iShares Oil & Gas Exploration  ETF              464288851      491    8000 SH       SOLE                 8000                  0
iShares Russell Mid Cap Value  ETF              464287473    11785  271538 SH       SOLE                    0             271538
iShares S^P Latin America 40   ETF              464287390      328    7700 SH       SOLE                 7700                  0
iShares S^P Midcap 400         ETF              464287606     1540   15600 SH       SOLE                15600                  0
iShares S^P Midcap 400 Value   ETF              464287705     1558   20501 SH       SOLE                    0              20501
iShares S^P Small Cap          ETF              464287804    11845  173431 SH       SOLE                    0             173431
iShares S^P Small Cap 600      ETF              464287879     1507   21596 SH       SOLE                    0              21596
Japan Smaller Companies        ETF              47109U104       90   12600 SH       SOLE                12600                  0
Market Vectors Agribusiness    ETF              57060U605      325    6900 SH       SOLE                 6700                200
Market Vectors Gold Miners     ETF              57060U100      633   12300 SH       SOLE                12300                  0
PowerShares High Yield Dividen ETF              73935X302    12210 1319959 SH       SOLE                    0            1319959
Proshares Short High Yield     ETF              74347R131      798   21500 SH       SOLE                20000               1500
ProShares Ultrashort 7-10 Yr   ETF        	74347R313     1286   42163 SH       SOLE                42163                  0
ProShares UltraShort 20 Year   ETF        	74347R297     1245   68900 SH       SOLE                68900                  0
Rydex Midcap 400 Growth        ETF        	78355W601     1543   19666 SH       SOLE                    0              19666
SPDR Nuveen Barclays Build Ame ETF        	78464A276     5124   90052 SH       SOLE                89952                100
SPDR S^P Insurance ETF         ETF       	78464A789      313    8400 SH       SOLE                 8400                  0
SPDR S^P Midcap 400            ETF        	595635103    11581   72611 SH       SOLE                    0              72611
SPDR Utilities                 ETF        	81369Y886     3219   89477 SH       SOLE                    0              89477
Streetracks Gold Trust         ETF       	863307104      321    2112 SH       SOLE                 2100                 12
Vanguard FTSE All World ex-US  ETF       	922042718      398    5130 SH       SOLE                    0               5130
Vanguard Mid-Cap               ETF        	922908629      978   13600 SH       SOLE                13600                  0
Vanguard REIT                  ETF        	922908553     6374  109894 SH       SOLE                 9100             100794
Vanguard Small Cap             ETF        	922908751     1470   21100 SH       SOLE                21100                  0
Vanguard Small Cap Growth ETF  ETF        	922908595     2734   35805 SH       SOLE                16300              19505
Wisdomtree Intl Divs Ex Financ ETF        	97717W786     1011   25545 SH       SOLE                24300               1245