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
ACADIA PHARMACEUTICALS INC COM 004225108 416 17,850 SH   DFND   0 416 0
AFLAC INC COM 001055102 748 17,072 SH   DFND   0 748 0
ALPS ETF TR ALERIAN MLP ETF 00162Q866 422 44,670 SH   DFND   0 422 0
American International Group, Inc. COM 026874784 2,576 47,343 SH   DFND   0 2,576 0
AQUINOX PHARMACEUTICALS INC COM 03842B101 226 15,850 SH   DFND   0 226 0
Argan Inc Com COM 04010E109 613 14,280 SH   DFND   0 613 0
AT&T INC COM 00206R102 606 17,252 SH   DFND   0 606 0
BAXTER INTL INC COM COM 071813109 743 11,424 SH   DFND   0 743 0
BIOCRYST PHARMACEUTICALS INC COM 09058V103 156 32,500 SH   DFND   0 156 0
BLACKROCK KELSO CAP COM 092533108 109 17,739 SH   DFND   0 109 0
BLUEROCK RESIDENTIAL GROWTH COM 09627J102 339 40,881 SH   DFND   0 339 0
BROADCOM LIMITED COM Y09827109 5,833 24,748 SH   DFND   0 5,833 0
CERNER CORP COM 156782104 932 16,053 SH   DFND   0 932 0
Church & Dwight Inc COM 171340102 2,686 53,350 SH   DFND   0 2,686 0
COLONY NORTHSTAR CREDIT REAL COM 19626A101 1,245 64,953 SH   DFND   0 1,245 0
COLONY NORTHSTAR INC COM 19625W104 114 18,412 SH   DFND   0 114 0
CONATUS PHARMACEUTICALS INC COM 20600T108 82 15,000 SH   DFND   0 82 0
CORPORATE CAP TRUST INC COM 219880101 1,484 92,374 SH   DFND   0 1,484 0
COSTAMARE INC COM Y1771G102 3,096 496,181 SH   DFND   0 3,096 0
CVS HEALTH CORPORATION COM 126650100 1,485 23,783 SH   DFND   0 1,485 0
CYTOSORBENTS CORPORATION COM 23283X206 125 17,650 SH   DFND   0 125 0
DIREXION NASDAQ 100 EQL WGHT IDX ETF ETF 25459Y207 939 21,034 SH   DFND   0 939 0
ENBRIDGE INC COM 29250N105 1,910 60,623 SH   DFND   0 1,910 0
ENCOMPASS HEALTH CORPORATION COM 29261A100 4,584 80,278 SH   DFND   0 4,584 0
ENERPLUS CORP COM COM 292766102 510 45,320 SH   DFND   0 510 0
ENSCO PLC COM G3157S106 90 18,847 SH   DFND   0 90 0
EXLSERVICE HOLDINGS INC COM COM 302081104 664 11,910 SH   DFND   0 664 0
FS ENERGY & POWER FUND COM 30264D109 292 41,576 SH   DFND   0 292 0
FS GLOBAL CR OPPORTUNITIES FD COM 30291B100 111 14,902 SH   DFND   0 111 0
FS INVESTMENT CORPORATION COM 302635107 3,155 410,521 SH   DFND   0 3,155 0
FS INVT CORP II COM 35952V105 145 16,261 SH   DFND   0 145 0
GENERAL ELECTRIC COMPANY COM 369604103 160 11,427 SH   DFND   0 160 0
GLOBAL NET LEASE INC COM 379378201 1,223 64,496 SH   DFND   0 1,223 0
GLOBAL X FDS COM 37950E747 459 33,411 SH   DFND   0 459 0
GRAPHIC PACKAGING HLDG CO COM COM 388689101 301 19,638 SH   DFND   0 301 0
GREENBRIER COMPANIES INC COM 393657101 2,604 51,874 SH   DFND   0 2,604 0
GROWLIFE INC COM COM 39985X104 3 216,000 SH   DFND   0 3 0
HANESBRANDS INC COM 410345102 1,856 100,700 SH   DFND   0 1,856 0
Henry Schein Inc COM 806407102 860 12,808 SH   DFND   0 860 0
HINES GLOBAL REIT INC COM 433240108 108 12,072 SH   DFND   0 108 0
HLTHCARE TR OF AMER REIT COM 42225P501 296 11,325 SH   DFND   0 296 0
Htg Molecular Diagnostics Inc COM 40434H104 137 38,000 SH   DFND   0 137 0
INTEL CORP COM 458140100 4,790 92,174 SH   DFND   0 4,790 0
INVESCO MUNICIPAL TRUST COM 46131J103 175 14,750 SH   DFND   0 175 0
ISHARES INC ETF 464286202 556 21,959 SH   DFND   0 556 0
ISHARES INC ETF 464286764 444 13,650 SH   DFND   0 444 0
ISHARES INC ETF 46434G780 486 18,025 SH   DFND   0 486 0
ISHARES INC ETF 46434G830 495 15,762 SH   DFND   0 495 0
iShares Inc Mcsi Chile Investable ETF 464286640 719 13,567 SH   DFND   0 719 0
ISHARES MSCI BRAZIL ETF ETF 464286400 688 15,331 SH   DFND   0 688 0
iShares MSCI Emerging Markets Asia ETF 464286426 966 12,900 SH   DFND   0 966 0
ishares Msci Europe Small-Cap ETF 464288497 1,745 30,148 SH   DFND   0 1,745 0
ISHARES MSCI GERMANY ETF ETF 464286806 494 15,424 SH   DFND   0 494 0
ISHARES MSCI HONG KONG ETF ETF 464286871 509 20,171 SH   DFND   0 509 0
iShares MSCI India ETF 46429B598 573 16,794 SH   DFND   0 573 0
iShares MSCI Taiwan Index Fd ETF 46434G772 583 15,087 SH   DFND   0 583 0
ISHARES S&P 500 GROWTH ETF ETF 464287309 2,229 14,379 SH   DFND   0 2,229 0
iShares S&P Emerging Mkts ETF 464288216 793 24,542 SH   DFND   0 793 0
ISHARES S&P MID-CAP 400 GROWTH ETF ETF 464287606 4,587 21,010 SH   DFND   0 4,587 0
ISHARES S&P SMALL-CAP 600 VALUE ETF ETF 464287879 4,712 31,239 SH   DFND   0 4,712 0
ISHARES SELECT DIVIDEND ETF ETF 464287168 1,056 11,103 SH   DFND   0 1,056 0
iShares Silver Trust Index Fund ETF 46428Q109 201 13,064 SH   DFND   0 201 0
iShares Tr Msci All Peru Capped Index Fd ETF 464289842 590 13,871 SH   DFND   0 590 0
iShares Tr Msci Poland Investable ETF 46429B606 619 24,662 SH   DFND   0 619 0
ISHARES TRUST ETF 464287663 876 16,494 SH   DFND   0 876 0
ISHARES TRUST ETF 464288521 835 18,541 SH   DFND   0 835 0
ISHARES TRUST ETF 46435G334 399 11,579 SH   DFND   0 399 0
ISHARES U.S. BASIC MATERIALS ETF ETF 464287838 4,238 44,113 SH   DFND   0 4,238 0
ISHARES U.S. REAL ESTATE ETF ETF 464287739 1,043 13,833 SH   DFND   0 1,043 0
JOHNSON & JOHNSON COM 478160104 3,155 24,595 SH   DFND   0 3,155 0
JP MORGAN CHASE & CO COM 48127A161 3,059 28,229 SH   DFND   0 3,059 0
KEYW HOLDING CORP COM 493723100 694 87,305 SH   DFND   0 694 0
KLA-Tencor Corporation COM 482480100 2,452 22,501 SH   DFND   0 2,452 0
LADENBURG THALMAN FIN SVCS INC PFD SER A COM 50575Q201 439 17,345 SH   DFND   0 439 0
Lpl Finl Hldgs Inc Com COM 50212V100 770 12,624 SH   DFND   0 770 0
MAIN STREET CAPITAL COM 56035L104 497 12,846 SH   DFND   0 497 0
Market Vectors Russia ETF ETF 92189F403 588 25,869 SH   DFND   0 588 0
MEDLEY CAPITAL CORPORATION COM 58503F106 57 13,500 SH   DFND   0 57 0
MERCK & CO INC COM 58933Y105 590 10,116 SH   DFND   0 590 0
MURPHY OIL CORPORATION COM 626717102 2,181 84,382 SH   DFND   0 2,181 0
Navios Maritime Ptn COM Y62267102 24 13,872 SH   DFND   0 24 0
NEW YORK REIT INC COM 64976L109 287 16,014 SH   DFND   0 287 0
Norwegian Cruise Line Hldgs Ltd Com Usd0 COM G66721104 786 14,841 SH   DFND   0 786 0
NOVO NORDISK A/S-ADR COM 670100205 3,417 69,363 SH   DFND   0 3,417 0
NUVEEN AMT FREE QUALITY COM 670657105 400 30,802 SH   DFND   0 400 0
Pennsylvania Real Estate Investment Trust COM 709102107 860 89,151 SH   DFND   0 860 0
Pimco High Income Fund COM 722014107 101 13,341 SH   DFND   0 101 0
PIONEER MUNICIPAL HIGH INCOME COM 723762100 186 17,254 SH   DFND   0 186 0
Powershares ETF Trust II Intl ETF 73936Q835 937 33,675 SH   DFND   0 937 0
PROSHARES S&P 500 DIV ARISTOCRAT ETF ETF 74348A467 713 11,429 SH   DFND   0 713 0
Qorvo Inc COM 74736K101 737 10,470 SH   DFND   0 737 0
REALTY INCOME CORP COM 756109104 2,975 57,542 SH   DFND   0 2,975 0
Royal Bank Of Scotland Group Plc COM 780097689 810 109,460 SH   DFND   0 810 0
RUDOLPH TECHNOLOGIES INC COM COM 781270103 503 18,177 SH   DFND   0 503 0
Sanchez Energy Corp COM 79970Y105 33 10,551 SH   DFND   0 33 0
Sanchez Midstream Partners COM 79971C201 163 15,830 SH   DFND   0 163 0
SCHWAB EMERGING MARKETS EQUITY ETF ETF 808524706 663 23,634 SH   DFND   0 663 0
SCHWAB FUNDA EMG MKTS LARGE COM ETF ETF 808524730 997 32,378 SH   DFND   0 997 0
SCHWAB US BROAD MARKET ETF ETF 808524102 3,286 49,791 SH   DFND   0 3,286 0
SCHWAB US DIVIDEND EQUITY ETF ETF 808524797 849 17,281 SH   DFND   0 849 0
SCHWAB US LARGE CAP GROWTH ETF ETF 808524300 1,598 21,304 SH   DFND   0 1,598 0
SCHWAB US LARGE CAP ETF ETF 808524201 2,526 38,777 SH   DFND   0 2,526 0
SIRIUS XM HLDGS INC COM 82968B103 141 22,717 SH   DFND   0 141 0
SOUTHWEST AIRLINES COM 844741108 3,124 55,689 SH   DFND   0 3,124 0
SPDR DOW JONES INDUSTRIAL AVERAGE ETF ETF 78467X109 4,709 19,509 SH   DFND   0 4,709 0
SPDR S&P 500 ETF TRUST ETF 78462F103 4,939 18,764 SH   DFND   0 4,939 0
SPDR S&P Emerging Markets Small Cap ETF 78463X756 1,398 26,643 SH   DFND   0 1,398 0
SPDR S&P MidCap 400 ETF 78467Y107 3,555 10,404 SH   DFND   0 3,555 0
Spdr Ser Tr Db Intl Govt Inflation ETF 78464A490 748 12,565 SH   DFND   0 748 0
SPDR SERIES TRUST ETF 78464A359 2,029 39,072 SH   DFND   0 2,029 0
SPDR SERIES TRUST ETF 78464A508 407 13,853 SH   DFND   0 407 0
TERNIUM S A COM 880890108 2,643 81,319 SH   DFND   0 2,643 0
TEXAS INSTRUMENTS INCORPORATED COM 882508104 2,519 24,257 SH   DFND   0 2,519 0
Toronto Dominion Bk Ont Com New COM 891160509 2,816 49,535 SH   DFND   0 2,816 0
UNITED DEVELOPMENT FUNDING IV COM 910187103 120 34,706 SH   DFND   0 120 0
United Natural Foods Inc COM 911163103 797 18,584 SH   DFND   0 797 0
UNUM GROUP COM 91529Y106 2,753 57,800 SH   DFND   0 2,753 0
VANGUARD FTSE DEVELOPED ETF 921943858 1,588 35,900 SH   DFND   0 1,588 0
VANGUARD FTSE EMERGING MARKETS ETF 922042858 1,844 39,276 SH   DFND   0 1,844 0
VANGUARD S&P 500 ETF ETF 922908363 4,815 19,887 SH   DFND   0 4,815 0
VENTAS INC COM 92276F100 728 13,801 SH   DFND   0 728 0
VEREIT INC COM 92339V100 4,266 611,652 SH   DFND   0 4,266 0
WESTERN ALLIANCE BANCORP COM COM 957638109 891 15,341 SH   DFND   0 891 0
WYNDHAM WORLDWIDE CORPORATION COM 98310W108 3,414 29,831 SH   DFND   0 3,414 0
YAMANA GOLD INC COM 98462Y100 47 17,077 SH   DFND   0 47 0
Zebra Technologies Corp Cl A COM 989207105 1,683 12,097 SH   DFND   0 1,683 0