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
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
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
JACKSON NATIONAL LIFE INS PERS COM 468495635 0 12,950 SH   DFND   0 12,950 0
ENERGY SELECT ETF SECTOR SPD COM 81369Y506 3,851 38,470 SH   DFND   0 38,470 0
FINANCIAL SELECTETF SECTOR SPD COM 81369Y605 71,064 3,125,073 SH   DFND   0 3,125,073 0
FIRST TRST HLTH CAREETF ALPHAD COM 33734X143 215,792 4,050,915 SH   DFND   0 4,050,915 0
FIRST TRUST CONSUMER ETF STAPL COM 33734X119 213,245 5,356,576 SH   DFND   0 5,356,576 0
FIRST TRUST ENERGY ETF ALPHA COM 33734X127 221,720 7,568,020 SH   DFND   0 7,568,020 0
FIRST TRUST ETF FINANCIAL ALPH COM 33734X135 213,439 9,588,463 SH   DFND   0 9,588,463 0
FIRST TRUST ETF INDUSTRIALS PR COM 33734X150 210,876 6,911,689 SH   DFND   0 6,911,689 0
FIRST TRUST ETF UTILITIES ALPH COM 33734X184 222,975 9,345,123 SH   DFND   0 9,345,123 0
FIRST TRUST MATERIAL ETF ALPHA COM 33734X168 213,997 6,266,375 SH   DFND   0 6,266,375 0
FIRST TRUST TECHNLGY ETF ALPHA COM 33734X176 216,231 6,649,173 SH   DFND   0 6,649,173 0
INDUSTRIAL SELECT ETF SECTO COM 81369Y704 3,850 71,211 SH   DFND   0 71,211 0
ISHARES ETF U.S. ENERGY COM 464287796 68,969 1,214,241 SH   DFND   0 1,214,241 0
ISHARES ETF U.S. HEALTHCARE COM 464287762 67,990 530,302 SH   DFND   0 530,302 0
ISHARES ETF U.S. INDUSTRIALS COM 464287754 66,288 639,846 SH   DFND   0 639,846 0
ISHARES ETF U.S. TECHNOLOGY COM 464287721 67,835 700,196 SH   DFND   0 700,196 0
ISHARES ETF U.S. UTILITIES COM 464287697 70,041 628,900 SH   DFND   0 628,900 0
SECTOR SPDR TR ETF TECHNOLOGY COM 81369Y803 3,912 102,009 SH   DFND   0 102,009 0
SELECT SECTOR SPDR FD HEALTH C COM 81369Y209 3,921 64,454 SH   DFND   0 64,454 0
SELECT SECTOR SPDR FD MATERIAL COM 81369Y100 71,389 1,438,144 SH   DFND   0 1,438,144 0
SELECT SECTOR SPDR TR CONSUMER COM 81369Y308 70,140 1,571,943 SH   DFND   0 1,571,943 0
SELECT SECTOR SPDR TR UTILITIE COM 81369Y886 3,980 89,930 SH   DFND   0 89,930 0
FIRST TR ASIA ETF PACIFIC EX-J COM 33737J109 83,585 2,767,617 SH   DFND   0 2,767,617 0
FIRST TR CANADA ETF ALPHADEX F COM 33737J208 91,961 2,373,122 SH   DFND   0 2,373,122 0
FIRST TR EMERGING ETF MARKE COM 33737J182 261,325 10,378,282 SH   DFND   0 10,378,282 0
FIRST TR EUROPE ETF ALPHADEX F COM 33737J117 264,335 7,619,906 SH   DFND   0 7,619,906 0
FIRST TR JAPAN ETF ALPHADEX F COM 33737J158 86,311 1,803,401 SH   DFND   0 1,803,401 0
ISHARES MSCI CANADA ETF INDEX COM 464286509 13,885 431,082 SH   DFND   0 431,082 0
ISHARES MSCI ETF EMERGING MARK COM 464287234 39,069 903,736 SH   DFND   0 903,736 0
ISHARES MSCI JAPAN ETF COM 464286848 12,935 1,074,351 SH   DFND   0 1,074,351 0
ISHARES MSCI PACIFIC ETF EX-JA COM 464286665 12,277 249,280 SH   DFND   0 249,280 0
VANGUARD FTSE ETF EUROPEAN COM 922042874 39,553 659,770 SH   DFND   0 659,770 0
ISHARES ETF 7-10 YR TREASURY B COM 464287440 29,346 283,313 SH   DFND   0 283,313 0
ISHARES ETF FLOATING RATE BOND COM 46429B655 93,086 1,832,411 SH   DFND   0 1,832,411 0
ISHARES IBOXX $ ETF HIGH YIELD COM 464288513 29,575 310,657 SH   DFND   0 310,657 0
ISHARES IBOXX & ETF INVESTMENT COM 464287242 29,567 247,917 SH   DFND   0 247,917 0
ISHARES MBS ETF COM 464288588 92,802 857,534 SH   DFND   0 857,534 0
ISHARES TIP BONDETF COM 464287176 29,584 256,451 SH   DFND   0 256,451 0
PIMCO 0-5 YEAR HIGH ETF YIELD COM 72201R783 63,574 594,871 SH   DFND   0 594,871 0
PIMCO INVESTMENTETF GRADE CORP COM 72201R817 63,067 611,010 SH   DFND   0 611,010 0
PIMCO TRUST ETF BROAD U S COM 72201R403 62,880 1,081,908 SH   DFND   0 1,081,908 0
PIMCO TRUST ETF 7-15YR US TREA COM 72201R700 63,092 756,681 SH   DFND   0 756,681 0
ISHARES CORE S&P 500 ETF S&P 5 COM 464287200 66,545 337,794 SH   DFND   0 337,794 0
SPDR GOLD TRUST ETF COM 78463V107 101,077 789,414 SH   DFND   0 789,414 0
SPDR S&P 500 TRUST ETF COM 78462F103 36,216 185,041 SH   DFND   0 185,041 0
ISHARES ETF MORTGAGE REAL ESTA COM 464288539 131 10,372 SH   DFND   0 10,372 0