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
SPDR S&P 500 ETF TRUST COM 78462F103 104,118 1,511,578 SH   DFND   0 0 104,118
VANGUARD EUROPEAN STOCK INDEX FUND ETF COM 922042874 41,620 1,378,048 SH   DFND   0 0 41,620
VANGUARD REIT INDEX FUND ETF COM 922908553 25,646 350,137 SH   DFND   0 0 25,646
JPMORGAN EXCHANGE TRADE NOTE 09 - 24.05.2024 / ALERIAN MLP COM 46625H365 22,293 691,310 SH   DFND   0 0 22,293
GUGGENHEIM ETF TRUST S&P 500 EQUAL WEIGHTED INDEX FUND COM 78355W106 19,198 210,843 SH   DFND   0 0 19,198
ISHARES SELECT DIVIDEND ETF COM 464287168 14,574 159,976 SH   DFND   0 0 14,574
ISHARES MSCI JAPAN ETF COM 46434G822 11,597 227,357 SH   DFND   0 0 11,597
ISHARES EUROPE ETF COM 464287861 11,344 271,072 SH   DFND   0 0 11,344
ISHARES INC MSCI EMMA ETF COM 464287234 7,563 191,996 SH   DFND   0 0 7,563
POWERSHARES ETF FUND TRUST II SENIOR LOAN PF ETF COM 73936Q769 5,472 231,372 SH   DFND   0 0 5,472
ISHARES INTERMEDIATE CREDIT BOND ETF COM 464288638 5,451 50,025 SH   DFND   0 0 5,451
ISHARES MSCI PACIFIC EX-JAPAN ETF COM 464286665 4,531 97,689 SH   DFND   0 0 4,531
ISHARES MSCI CANADA ETF COM 464286509 4,082 151,755 SH   DFND   0 0 4,082
VANGUARD GLOBAL EX US REAL ESTATE INDEX FUND ETF COM 922042676 3,765 84,666 SH   DFND   0 0 3,765
VANGUARD FTSE EMERGING MARKETS ETF COM 922042858 3,744 94,264 SH   DFND   0 0 3,744
ISHARES CORE S&P MID-CAP ETF COM 464287507 3,406 208,052 SH   DFND   0 0 3,406
SPDR DJ INDUSTRIAL AVERAGE ETF TRUST COM 78467X109 3,297 15,978 SH   DFND   0 0 3,297
SPDR INDEX SHARES FUNDS EMMA ASIA PAC ETF COM 78463X301 2,585 30,032 SH   DFND   0 0 2,585
ISHARES 1 - 3 YR CREDIT BOND ETF COM 464288646 1,586 12,070 SH   DFND   0 0 1,586
UBS ETRACS 11 - 24.05.2041 / 2X WELLS FARGO COM 90267B765 1,535 70,865 SH   DFND   0 0 1,535
ISHARES TIPS BOND ETF COM 464287176 1,523 9,906 SH   DFND   0 0 1,523
BANK OF AMERICA CORP COM 060505104 1,346 57,078 SH   DFND   0 0 1,346
ISHARES CURRENCY HEDGED MSCI GERMANY ETF COM 46434V704 930 28,400 SH   DFND   0 0 930
APPLE INC COM 037833100 820 2,052 SH   DFND   0 0 820
GENERAL ELECTRIC CO COM 369604103 783 26,259 SH   DFND   0 0 783
FINANCIAL SELECT SECTOR SPDR FUND ETF COM 81369Y605 758 31,908 SH   DFND   0 0 758
GENERAL MOTORS CO COM 37045V100 756 21,370 SH   DFND   0 0 756
PFIZER INC COM 717081103 731 21,361 SH   DFND   0 0 731
WEYERHAEUSER CO COM 962166104 723 28,755 SH   DFND   0 0 723
GILEAD SCIENCES INC COM 375558103 715 10,531 SH   DFND   0 0 715
ELI LILLY & CO COM 532457108 684 8,127 SH   DFND   0 0 684
ISHARES TRUST MSCI ALL PERU CAPPED ETF COM 464289842 626 18,378 SH   DFND   0 0 626
CVS HEALTH CORP COM 126650100 558 7,103 SH   DFND   0 0 558
ISHARES MSCI SINGAPORE ETF COM 46434G780 502 22,309 SH   DFND   0 0 502
ISHARES RUSSELL 2000 ETF COM 464287655 493 3,640 SH   DFND   0 0 493
ISHARES MSCI EAFE ETF COM 464287465 462 7,415 SH   DFND   0 0 462
POTLATCH CORP COM 737630103 406 11,631 SH   DFND   0 0 406
DOUBLELINE TOTAL RETURN BOND FUND -I- COM 258620103 402 37,784 SH   DFND   0 0 402
ISHARES CORE MSCI EMMA ETF COM 46434G103 385 4,055 SH   DFND   0 0 385
ISHARES CORE S&P SMALL CAP ETF COM 464287804 377 198,667 SH   DFND   0 0 377
VANECK VECTORS VIETNAM ETF COM 92189F817 372 26,989 SH   DFND   0 0 372
COMPANIA DE MINAS BUENAVENTURA SA BUENA COM 204448104 363 30,171 SH   DFND   0 0 363
KINDER MORGAN INC COM 49456B101 350 16,079 SH   DFND   0 0 350
CHESAPEAKE ENERGY CORP COM 165167107 346 58,200 SH   DFND   0 0 346
JPMORGAN TRUST I SELECT SHS MULTI-SECTOR INCOME FUND COM 48121A290 321 32,319 SH   DFND   0 0 321
VANGUARD HIGH DIVIDEND YIELD INDEX FUND ETF COM 921946406 311 4,000 SH   DFND   0 0 311
MORGAN STANLEY IF SELECT GLOBAL INFRASTRUCTURE FD COM 61760X315 304 21,322 SH   DFND   0 0 304
DELTA AIR LINES INC COM 247361702 279 6,063 SH   DFND   0 0 279
RAYONIER INC REIT COM 754907103 277 12,496 SH   DFND   0 0 277
ISHARES MSCI INDIA ETF COM 46429B598 273 8,662 SH   DFND   0 0 273
FORD MOTOR CO COM 345370860 271 23,290 SH   DFND   0 0 271
JP MORGAN TRUST I SELECT STRATEGIE INCOME OPP FUND COM 4812A4351 268 23,011 SH   DFND   0 0 268
UBS AG JERSEY 10 - 02.04.2040 ALERIAN MLP INFRASTRUCTURE IDX COM 902641646 267 9,141 SH   DFND   0 0 267
ISHARES MSCI JAPAN ETF COM 464286848 218 196,988 SH   DFND   0 0 218
CONSUMER STAPLES SELECT SECTOR SPDR FUND COM 81369Y308 215 4,152 SH   DFND   0 0 215
ISHARES IBOXX USD HIGH YIELD CORPORATE BOND ETF COM 464288513 211 2,405 SH   DFND   0 0 211
HEALTH CARE SELECT SECTOR SPDR FUND COM 81369Y209 186 2,697 SH   DFND   0 0 186
STARBUCKS CORP COM 855244109 186 3,182 SH   DFND   0 0 186
FARMLAND PARTNERS INC COM 31154R109 185 17,441 SH   DFND   0 0 185
BERKSHIRE HATHAWAY INC -B- COM 084670702 185 360 SH   DFND   0 0 185
ISHARES MSCI THAILAND CAPPED ETF COM 464286624 185 2,466 SH   DFND   0 0 185
ALPHABET INC -A- COM 02079K305 170 214 SH   DFND   0 0 170
BIOGEN IDEC INC COM 09062X103 164 600 SH   DFND   0 0 164
BRISTOL MYERS SQUIBB CO COM 110122108 158 2,909 SH   DFND   0 0 158
ANADARKO PETROLEUM CORP COM 032511107 136 2,200 SH   DFND   0 0 136
REAL ESTATE SELECT SECTOR SPDR FUND COM 81369Y860 136 4,309 SH   DFND   0 0 136
SPDR INDEX SHARES FUNDS EURO STOXX 50 ETF COM 78463X202 134 3,681 SH   DFND   0 0 134
CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND ETF COM 81369Y407 132 1,621 SH   DFND   0 0 132
SPDR INDEX SHARES FUNDS EMMA MIDDLE EAST & AFRICA ETF COM 78463X806 126 2,143 SH   DFND   0 0 126
GLADSTONE LAND CORP COM 376549101 120 11,297 SH   DFND   0 0 120
PAYPAL HOLDINGS INC COM 70450Y103 119 2,771 SH   DFND   0 0 119
SPDR GOLD TRUST ETF COM 78463V107 119 1,083 SH   DFND   0 0 119
MICROSOFT CORP COM 594918104 108 1,646 SH   DFND   0 0 108