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
3M Co Common Stock 88579Y101 35 200 SH   DFND 1, 0 200 0
Alibaba Group Holding Ltd ADR 01609W102 69 870 SH   DFND 1, 0 870 0
AT&T Inc Common Stock 00206R102 36 830 SH   DFND 1, 0 830 0
Check Point Software Technologies Ltd Common Stock M22465104 81 1,020 SH   DFND 1, 0 1,020 0
Cisco Systems Inc Common Stock 17275R102 535 18,600 SH   DFND 1,2 0 18,600 0
Citigroup Inc Common Stock 172967424 1,032 24,500 SH   DFND 1,2 0 24,500 0
Consumer Discretionary Select Sector SPDR Fund ETP 81369Y407 4,015 50,990 SH   DFND 1,2 0 50,990 0
Consumer Staples Select Sector SPDR Fund ETP 81369Y308 3,320 60,580 SH   DFND 1,2 0 60,580 0
Deutsche X-trackers Harvest CSI 300 China A-Shares ETF ETP 233051879 6,156 261,357 SH   DFND 1,2 0 261,357 0
iShares Select Dividend ETF ETP 464287168 140 1,648 SH   DFND 1, 0 1,648 0
eBay Inc Common Stock 278642103 9 400 SH   DFND 1, 0 400 0
Energy Select Sector SPDR Fund ETP 81369Y506 8,797 128,440 SH   DFND 1,2 0 128,440 0
iShares MSCI Germany ETF ETP 464286806 642 26,661 SH   DFND 1, 0 26,661 0
iShares MSCI Brazil Capped ETF ETP 464286400 3,095 101,550 SH   DFND ,2 0 101,550 0
Facebook Inc Common Stock 30303M102 173 1,520 SH   DFND 1, 0 1,520 0
Financial Select Sector SPDR Fund ETP 81369Y605 316 13,900 SH   DFND 1,2 0 13,900 0
FireEye Inc Common Stock 31816Q101 221 13,500 SH   DFND 1,2 0 13,500 0
Gilead Sciences Inc Common Stock 375558103 101 1,190 SH   DFND 1, 0 1,190 0
Global X Brazil Consumer ETF ETP 37950E846 5 426 SH   DFND 1, 0 426 0
Goldman Sachs Group Inc/The Common Stock 38141G104 42 285 SH   DFND 1, 0 285 0
Guggenheim S&P 500 Equal Weight ETF ETP 78355W106 161 2,000 SH   DFND 1, 0 2,000 0
Health Care Select Sector SPDR Fund ETP 81369Y209 6,942 96,350 SH   DFND 1,2 0 96,350 0
Industrial Select Sector SPDR Fund ETP 81369Y704 10,860 193,580 SH   DFND 1,2 0 193,580 0
Intel Corp Common Stock 458140100 44 1,350 SH   DFND 1, 0 1,350 0
iShares Currency Hedged MSCI Germany ETF ETP 46434V704 127 5,610 SH   DFND ,2 0 5,610 0
iShares China Large-Cap ETF ETP 464287184 120 3,500 SH   DFND 1, 0 3,500 0
iShares U.S. Home Construction ETF ETP 464288752 501 18,000 SH   DFND ,2 0 18,000 0
iShares Transportation Average ETF ETP 464287192 2,606 19,270 SH   DFND 1, 0 19,270 0
iShares Europe ETF ETP 464287861 818 21,680 SH   DFND 1, 0 21,680 0
iShares MSCI Global Gold Miners ETF ETP 464286335 130 10,500 SH   DFND ,2 0 10,500 0
iShares MSCI Italy Capped ETF ETP 464286855 511 47,260 SH   DFND 1,2 0 47,260 0
iShares MSCI Japan ETF ETP 464286848 6 513 SH   DFND 1, 0 513 0
iShares MSCI Mexico Capped ETF ETP 464286822 598 11,850 SH   DFND ,2 0 11,850 0
iShares MSCI Taiwan ETF ETP 464286731 440 31,000 SH   DFND ,2 0 31,000 0
iShares MSCI United Kingdom ETF ETP 46434V548 408 26,610 SH   DFND 1,2 0 26,610 0
iShares Nasdaq Biotechnology ETF ETP 464287556 203 775 SH   DFND 1, 0 775 0
SPDR S&P Regional Banking ETF ETP 78464A698 1,893 49,900 SH   DFND 1,2 0 49,900 0
MasterCard Inc Common Stock 57636Q104 449 5,060 SH   DFND 1,2 0 5,060 0
Microsoft Corp Common Stock 594918104 66 1,300 SH   DFND 1, 0 1,300 0
Middleby Corp/The Common Stock 596278101 57 500 SH   DFND 1, 0 500 0
Oracle Corp Common Stock 68389X105 47 1,150 SH   DFND 1, 0 1,150 0
Palo Alto Networks Inc Common Stock 697435105 102 840 SH   DFND 1, 0 840 0
Petroleo Brasileiro SA ADR 71654V408 90 12,000 SH   DFND 1,2 0 12,000 0
Pfizer Inc Common Stock 717081103 374 10,530 SH   DFND 1, 0 10,530 0
Powershares QQQ Trust Series 1 ETP 73935A104 21,974 203,380 SH   DFND 1,2 0 203,380 0
PowerShares S&P SmallCap Information Technology Portfolio ETP 73937B860 719 13,000 SH   DFND 1, 0 13,000 0
Procter & Gamble Co/The Common Stock 742718109 98 1,160 SH   DFND 1, 0 1,160 0
Qihoo 360 Technology Co Ltd ADR 74734M109 40 550 SH   DFND 1, 0 550 0
QUALCOMM Inc Common Stock 747525103 21 400 SH   DFND 1, 0 400 0
SPDR S&P Oil & Gas Equipment & Services ETF ETP 78464A748 196 10,100 SH   DFND ,2 0 10,100 0
salesforce.com Inc Common Stock 79466L302 63 790 SH   DFND 1, 0 790 0
Sanofi Right 80105N113 0 7 SH   DFND 1, 0 7 0
iShares S&P 100 ETF ETP 464287101 54 583 SH   DFND 1, 0 583 0
SPDR S&P Bank ETF ETP 78464A797 418 13,880 SH   DFND ,2 0 13,880 0
SPDR S&P500 ETF Trust ETP 78462F103 10,102 48,094 SH   DFND ,2 0 48,094 0
SPDR S&P Homebuilders ETF ETP 78464A888 2,130 63,200 SH   DFND 1,2 0 63,200 0
SPDR S&P Insurance ETF ETP 78464A789 1,558 22,000 SH   DFND 1, 0 22,000 0
SPDR S&P Retail ETF ETP 78464A714 2,075 49,090 SH   DFND 1,2 0 49,090 0
SuperCom Ltd Common Stock M87095119 0 96 SH   DFND 1, 0 96 0
Synaptics Inc Common Stock 87157D109 31 600 SH   DFND 1, 0 600 0
Technology Select Sector SPDR Fund ETP 81369Y803 1,090 25,120 SH   DFND 1,2 0 25,120 0
Vanguard Financials ETF ETP 92204A405 8,586 182,380 SH   DFND 1,2 0 182,380 0
Vanguard FTSE Emerging Markets ETF ETP 922042858 3,748 105,759 SH   DFND 1,2 0 105,759 0
Vanguard REIT ETF ETP 922908553 35 390 SH   DFND 1, 0 390 0
Vanguard Value ETF ETP 922908744 56 663 SH   DFND 1,2 0 663 0
Visa Inc Common Stock 92826C839 79 1,060 SH   DFND 1, 0 1,060 0
Wells Fargo & Co Common Stock 949746101 32 680 SH   DFND 1, 0 680 0
WisdomTree Japan Hedged Equity Fund ETP 97717W851 690 18,003 SH   DFND 1,2 0 18,003 0
WisdomTree India Earnings Fund ETP 97717W422 1,201 58,800 SH   DFND ,2 0 58,800 0
Wix.com Ltd Common Stock M98068105 1,191 38,842 SH   DFND ,2 0 38,842 0
Yum! Brands Inc Common Stock 988498101 598 7,175 SH   DFND ,2 0 7,175 0
Ellomay Capital Ltd Common Stock M39927120 8 1,000 SH   DFND 1, 0 1,000 0
Utilities Select Sector SPDR Fund ETP 81369Y886 52 1,000 SH   DFND 1, 0 1,000 0
Vanguard FTSE Europe ETF ETP 922042874 1,102 23,625 SH   DFND ,2 0 23,625 0
WisdomTree Europe Hedged Equity Fund ETP 97717X701 847 16,791 SH   DFND 1,2 0 16,791 0
iShares High Dividend ETF ETP 46429B663 49 600 SH   DFND 1, 0 600 0
Powershares Dynamic Pharmaceuticals Portfolio ETP 73935X799 95 1,480 SH   DFND 1, 0 1,480 0
Vanguard Dividend Appreciation ETF ETP 921908844 50 600 SH   DFND 1, 0 600 0
SPDR S&P China ETF ETP 78463X400 1,221 17,400 SH   DFND 1,2 0 17,400 0
AerCap Holdings NV Common Stock N00985106 287 8,500 SH   DFND 1,2 0 8,500 0
iShares Currency Hedged MSCI Japan ETF ETP 46434V886 118 5,100 SH   DFND 1, 0 5,100 0
Medtronic PLC Common Stock G5960L103 145 1,670 SH   DFND 1, 0 1,670 0
Accenture PLC Common Stock G1151C101 363 3,200 SH   DFND 1,2 0 3,200 0
General Motors Co Common Stock 37045V100 202 7,000 SH   DFND 1,2 0 7,000 0
Mobileye NV Common Stock N51488117 49 1,050 SH   DFND 1, 0 1,050 0
PVH Corp Common Stock 693656100 133 1,400 SH   DFND 1, 0 1,400 0
Western Digital Corp Common Stock 958102105 150 3,200 SH   DFND 1,2 0 3,200 0
Whiting Petroleum Corp Common Stock 966387102 574 59,500 SH   DFND ,2 0 59,500 0
iShares MSCI Emerging Markets ETF ETP 464287234 16 458 SH   DFND 1, 0 458 0
SPDR Dow Jones Industrial Average ETF Trust ETP 78467X109 0 0 SH   DFND ,2 0 0 0