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
ISHARES RUS MD CP GR ETF 464287481 3,031 35,329 SH   DFND   0 0 35,329
ISHARES CREDIT BD ETF 464288620 276 2,523 SH   DFND   0 0 2,523
ISHARES IBOXX HI YD ETF 464288513 210 2,225 SH   DFND   0 0 2,225
ISHARES INTL SEL DIV ETF 464288448 2,130 55,117 SH   DFND   0 0 55,117
ISHARES JP MOR EM MK ETF 464288281 758 6,803 SH   DFND   0 0 6,803
ISHARES MRG RL ES CP ETF 464288539 625 50,982 SH   DFND   0 0 50,982
ISHARES MSCI BRZ CAP ETF 464286400 234 5,192 SH   DFND   0 0 5,192
ISHARES MSCI EAFE ETF 464287465 1,193 17,757 SH   DFND   0 0 17,757
ISHARES ASIA/PAC DIV ETF 464286293 292 5,367 SH   DFND   0 0 5,367
ISHARES RUS 1000 GRW ETF 464287614 457 5,283 SH   DFND   0 0 5,283
ISHARES U.S. FINLS ETF 464287788 400 4,898 SH   DFND   0 0 4,898
ISHARES US HLTHCARE ETF 464287762 249 2,021 SH   DFND   0 0 2,021
ISHARES US OIL EQ&SV ETF 464288844 2,977 43,543 SH   DFND   0 0 43,543
ISHARES MSCI EMG MKT ETF 464287234 2,161 52,684 SH   DFND   0 0 52,684
MANNKIND CORP COM 56400P201 41 10,253 SH   DFND   0 0 10,253
POWERSHARES ETF TRUST DYNA BUYBK ACH 73935X286 4,218 96,932 SH   DFND   0 0 96,932
POWERSHARES ETF TRUST FTSE US1500 SM 73935X567 2,521 25,408 SH   DFND   0 0 25,408
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 3,539 40,373 SH   DFND   0 0 40,373
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 405 7,734 SH   DFND   0 0 7,734
SPDR SERIES TRUST BRC HGH YLD BD 78464A417 1,451 35,124 SH   DFND   0 0 35,124