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
Apple Inc. COM 037833100 1,064 9,409 SH   DFND   0 9,409 0
ABBVIE INC. COM 00287Y109 554 8,786 SH   DFND   0 8,786 0
ACADIA PHARMACEUTICALS INC COM COM 004225108 282 8,850 SH   DFND   0 8,850 0
ALLERGAN PLC SHS COM G0177J108 304 1,319 SH   DFND   0 1,319 0
Argan Inc Com COM 04010E109 298 5,037 SH   DFND   0 5,037 0
Yamana Gold Inc Com Npv COM 98462Y100 48 11,153 SH   DFND   0 11,153 0
Broadcom Limited Shs COM Y09827109 3,197 18,529 SH   DFND   0 18,529 0
AMERICAN WTR WKS CO INC NEW COM COM 030420103 337 4,509 SH   DFND   0 4,509 0
CADENCE DESIGN SYSTEM INC COM COM 127387108 292 11,456 SH   DFND   0 11,456 0
Cerner Corp COM 156782104 325 5,269 SH   DFND   0 5,269 0
Chemed Corp New COM 16359R103 729 5,166 SH   DFND   0 5,166 0
Cummins Inc Formerlycummins Engine Inc COM 231021106 2,064 16,107 SH   DFND   0 16,107 0
Cinemark Hldgs Inc Com COM 17243V102 2,030 53,024 SH   DFND   0 53,024 0
Capital One Financial Corporation COM 14040H105 216 3,010 SH   DFND   0 3,010 0
Cooper-Standard Holdings Inc COM 21676P103 292 2,956 SH   DFND   0 2,956 0
Cisco Systems Inc COM 17275R102 924 29,116 SH   DFND   0 29,116 0
Centurytel Inc COM 156700106 2,404 87,637 SH   DFND   0 87,637 0
SPDR Barclays Conv Secs ETF ETF 78464A359 1,805 38,924 SH   DFND   0 38,924 0
Dean Foods Company COM 242370203 1,222 74,510 SH   DFND   0 74,510 0
Walt Disney Co COM 254687106 289 3,112 SH   DFND   0 3,112 0
iShares Dow Jones Select Dividend ETF 464287168 1,500 17,499 SH   DFND   0 17,499 0
iShares Inc Mcsi Chile Investable ETF 464286640 633 17,158 SH   DFND   0 17,158 0
iShares MSCI Emerging Markets Asia ETF 464286426 867 15,100 SH   DFND   0 15,100 0
iShares MSCI EAFE Index ETF 464287465 346 5,856 SH   DFND   0 5,856 0
iShares JPMorgan USD Emerging Mkts Bond ETF 464288281 1,066 9,098 SH   DFND   0 9,098 0
iShares S&P Emerging Mkts ETF 464288216 797 25,971 SH   DFND   0 25,971 0
iShares MSCI Philippines Invstb Mkt Idx ETF 46429B408 531 14,256 SH   DFND   0 14,256 0
iShares Tr Msci Poland Investable ETF 46429B606 553 30,375 SH   DFND   0 30,375 0
iShares Tr Msci All Peru Capped Index Fd ETF 464289842 519 15,630 SH   DFND   0 15,630 0
iShares MSCI Australia Index ETF 464286103 455 21,765 SH   DFND   0 21,765 0
iShares MSCI Sweden Index ETF 464286756 442 15,191 SH   DFND   0 15,191 0
iShares MSCI Germany ETF 464286806 452 17,219 SH   DFND   0 17,219 0
iShares MSCI Hong Kong Index ETF 464286871 523 23,756 SH   DFND   0 23,756 0
iShares MSCI Malaysia Index ETF 46434G814 600 73,931 SH   DFND   0 73,931 0
iShares MSCI Netherlands ETF 464286814 474 18,912 SH   DFND   0 18,912 0
iShares MSCI Austria Index Fund ETF 464286202 472 28,935 SH   DFND   0 28,935 0
iShares MSCI Singapore Index ETF 46434G780 451 41,552 SH   DFND   0 41,552 0
iShares MSCI Taiwan Index Fd ETF 46434G772 576 36,681 SH   DFND   0 36,681 0
iShares MSCI United Kingdom Ind Fund ETF 46435G334 375 23,683 SH   DFND   0 23,683 0
SPDR S&P Emerging Markets Small Cap ETF 78463X756 1,254 29,064 SH   DFND   0 29,064 0
iShares MSCI South Korea Index Fund ETF 464286772 497 8,542 SH   DFND   0 8,542 0
Facebook Inc Com Usd0.000006 Cl A COM 30303M102 811 6,324 SH   DFND   0 6,324 0
Fiserv Inc COM 337738108 284 2,859 SH   DFND   0 2,859 0
FS INVT CORP COM COM 302635107 301 31,747 SH   DFND   0 31,747 0
iShares FTSE NAREIT Real Estate 50 ETF 464288521 1,510 29,775 SH   DFND   0 29,775 0
General Electric Company COM 369604103 312 10,524 SH   DFND   0 10,524 0
GILEAD SCIENCES INC COM COM 375558103 375 4,736 SH   DFND   0 4,736 0
SPDR GOLD SHARES ETF 78463V107 346 2,751 SH   DFND   0 2,751 0
Gulfmark Offshore Inc COM 402629208 29 17,171 SH   DFND   0 17,171 0
Corning Incorporated COM 219350105 202 8,535 SH   DFND   0 8,535 0
GLOBAL NET LEASE INC COM COM 379378102 134 16,408 SH   DFND   0 16,408 0
Google Cl. C COM 02079K107 242 311 SH   DFND   0 311 0
Google Cl. A COM 02079K305 303 377 SH   DFND   0 377 0
Guggenheim China Small Cap ETF 18383Q853 613 24,584 SH   DFND   0 24,584 0
Home Depot, Inc. COM 437076102 608 4,723 SH   DFND   0 4,723 0
H &E Equipment Services Inc Com Isin #us COM 404030108 1,597 95,309 SH   DFND   0 95,309 0
Healthsouth Corp Com New COM 421924309 1,724 42,494 SH   DFND   0 42,494 0
iShares Tr Iboxx High Yield Corp ETF 464288513 314 3,600 SH   DFND   0 3,600 0
Advisorshares Tr Peritus High Yield ETF ETF 00768Y503 395 11,318 SH   DFND   0 11,318 0
International Business Machines Corp COM 459200101 2,261 14,234 SH   DFND   0 14,234 0
iShares C&S Realty Maj ETF 464287564 692 6,601 SH   DFND   0 6,601 0
ishares Msci Europe Small-Cap ETF 464288497 1,665 36,524 SH   DFND   0 36,524 0
ISHARES S&P MID-CAP 400 VALUE ETF ETF 464287705 1,373 10,320 SH   DFND   0 10,320 0
ISHARES S&P MID-CAP 400 GROWTH ETF ETF 464287606 1,327 7,595 SH   DFND   0 7,595 0
iShares S&P Smallcap 600 Value Index ETF 464287879 1,459 11,690 SH   DFND   0 11,690 0
ISHARES S&P SMALL-CAP 600 GROWTH ETF ETF 464287887 583 4,254 SH   DFND   0 4,254 0
iShares MSCI India ETF 46429B598 624 21,211 SH   DFND   0 21,211 0
ishares Core US Value ETF ETF 464287663 1,292 28,015 SH   DFND   0 28,015 0
iShares S&P 500 Index ETF 464287200 801 3,681 SH   DFND   0 3,681 0
ISHARES S&P 500 GROWTH ETF ETF 464287309 1,993 16,383 SH   DFND   0 16,383 0
ISHARES RUSSELL 2000 ETF ETF 464287655 845 6,802 SH   DFND   0 6,802 0
iShares Russell MC Idx ETF 464287499 1,063 6,097 SH   DFND   0 6,097 0
iShares Tr S&P Global Info ETF 464287291 1,173 10,599 SH   DFND   0 10,599 0
iShares DJ US Healthcare Sector ETF 464287762 1,478 9,839 SH   DFND   0 9,839 0
ISHARES U.S. BASIC MATERIALS ETF ETF 464287838 549 6,952 SH   DFND   0 6,952 0
iShares Tr Dow Jones U S Real Estate ETF 464287739 1,291 16,006 SH   DFND   0 16,006 0
iShares DJ US Tech Sect Index ETF 464287721 608 5,106 SH   DFND   0 5,106 0
Henry Jack & Associates Inc COM 426281101 663 7,754 SH   DFND   0 7,754 0
Johnson & Johnson COM 478160104 2,137 18,087 SH   DFND   0 18,087 0
JP Morgan Chase & Co. COM 46625H100 1,410 21,175 SH   DFND   0 21,175 0
Knight Cap Group Inc COM 48244B100 171 11,034 SH   DFND   0 11,034 0
Kinder Morgan Inc COM 49456B101 1,511 65,317 SH   DFND   0 65,317 0
Coca Cola Company, Inc. COM 191216100 302 7,129 SH   DFND   0 7,129 0
Lam Research Corp COM 512807108 298 3,143 SH   DFND   0 3,143 0
LADENBURG THALMAN FIN SVCS INC PFD SER A % PFD 50575Q201 416 16,625 SH   DFND   0 16,625 0
McKesson Corporation COM 58155Q103 2,404 14,417 SH   DFND   0 14,417 0
SPDR S&P MIDCAP 400 ETF ETF 78467Y107 1,455 5,153 SH   DFND   0 5,153 0
Credit Suisse Nassau Etn Lkd To Cusing ETN 22542D852 806 37,259 SH   DFND   0 37,259 0
Altria Group Inc COM 02209S103 582 9,210 SH   DFND   0 9,210 0
MONOGRAM RESIDENTIAL TR INC COM COM 60979P105 181 16,993 SH   DFND   0 16,993 0
Microsoft Corporation COM 594918104 592 10,276 SH   DFND   0 10,276 0
Murphy Oil Corporation COM 626717102 2,128 70,001 SH   DFND   0 70,001 0
Norwegian Cruise Line Hldgs Ltd Com Usd0 COM G66721104 214 5,671 SH   DFND   0 5,671 0
NETFLIX INC COM COM 64110L106 221 2,247 SH   DFND   0 2,247 0
NAVIOS MARITIME PARTNERS L P UNIT LPI LPI Y62267102 20 14,572 SH   DFND   0 14,572 0
Northstar Rlty Fin Corp Com COM 66704R803 156 11,814 SH   DFND   0 11,814 0
NEW YORK REIT INC COM COM 64976L109 268 29,259 SH   DFND   0 29,259 0
Realty Income Corp COM 756109104 2,968 44,338 SH   DFND   0 44,338 0
OMEGA HEALTHCARE INVS INC COM COM 681936100 244 6,877 SH   DFND   0 6,877 0
Open Text Co Com Stknpv COM 683715106 3,083 47,530 SH   DFND   0 47,530 0
PROCTER AND GAMBLE CO COM COM 742718109 365 4,071 SH   DFND   0 4,071 0
Pimco High Income Fund ETF 722014107 204 20,432 SH   DFND   0 20,432 0
Powershares ETF Trust II Intl ETF 73936Q835 1,064 39,975 SH   DFND   0 39,975 0
PROVISION HOLDING INC COM COM 744121104 2 14,000 SH   DFND   0 14,000 0
iShares MSCI EAFE Small-Cap ETF 464288273 486 9,269 SH   DFND   0 9,269 0
Spdr Ser Tr Dj Wilshire Small Cap ETF 78464A300 1,038 9,678 SH   DFND   0 9,678 0
SANCHEZ ENERGY CORP COM COM 79970Y105 312 35,284 SH   DFND   0 35,284 0
The Southern Company COM 842587107 366 7,131 SH   DFND   0 7,131 0
SPARTON CORP COM COM 847235108 223 8,500 SH   DFND   0 8,500 0
Spdr Ser Tr Dj Wilshire Large Cap ETF 78464A508 375 3,645 SH   DFND   0 3,645 0
Ssga Active Etf Tr Blackstone / Gso SR L ETF 78467V608 311 6,581 SH   DFND   0 6,581 0
SYNCHRONY FINL COM COM 87165B103 346 12,344 SH   DFND   0 12,344 0
AT&T COM 00206R102 315 7,747 SH   DFND   0 7,747 0
Target Corp COM 87612E106 1,800 26,203 SH   DFND   0 26,203 0
TRECORA RES COM COM 894648104 136 11,940 SH   DFND   0 11,940 0
The Travelers Cos Inc COM 89417E109 1,864 16,271 SH   DFND   0 16,271 0
Tyson Foods Incorporated COM 902494103 291 3,896 SH   DFND   0 3,896 0
Total System Services Inc COM 891906109 338 7,177 SH   DFND   0 7,177 0
Texas Instruments Incorporated COM 882508104 398 5,666 SH   DFND   0 5,666 0
UnumProvident Corporation COM 91529Y106 1,865 52,804 SH   DFND   0 52,804 0
United Rentals Inc COM 911363109 218 2,773 SH   DFND   0 2,773 0
VISA INC COM CL A COM 92826C839 511 6,180 SH   DFND   0 6,180 0
Vanguard Inter-Term Corporate Bond ETF 92206C870 1,010 11,271 SH   DFND   0 11,271 0
Vanguard Europe Pacific ETF ETF 921943858 1,383 36,981 SH   DFND   0 36,981 0
VEREIT INC COM COM 92339V100 415 39,995 SH   DFND   0 39,995 0
Market Vectors Etf Tr Vietnam Etf ETF 92189F817 580 38,417 SH   DFND   0 38,417 0
Vanguard Index Fds S&P 500 Etf Shs ETF 922908363 4,649 23,397 SH   DFND   0 23,397 0
Ventas Inc COM 92276F100 370 5,239 SH   DFND   0 5,239 0
Vanguard Emerging Markets Stock ETF ETF 922042858 1,541 40,962 SH   DFND   0 40,962 0
WESTERN ALLIANCE BANCORP COM COM 957638109 251 6,695 SH   DFND   0 6,695 0
Wells Fargo & Company COM 949746101 2,455 55,454 SH   DFND   0 55,454 0
Spdr Ser Tr Db Intl Govt Inflation ETF 78464A490 874 15,346 SH   DFND   0 15,346 0
Wal-Mart Stores Inc COM 931142103 2,520 34,948 SH   DFND   0 34,948 0
Wyndham Worldwide Corp COM 98310W108 1,729 25,684 SH   DFND   0 25,684 0
SPDR Ser Tr S&P Biotech Etf ETF 78464A870 461 6,952 SH   DFND   0 6,952 0
EXXON MOBIL CORP COM COM 30231G102 412 4,715 SH   DFND   0 4,715 0
PROSHARES ULTRASHORT SILVER ETF 74347W114 389 13,706 SH   DFND   0 13,706 0