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
21ST CENTURY FOX -A- -SHS CL A 90130A101 1,097 40,380 SH   DFND   40,380 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 2,337 28,751 SH   DFND 1 0 0 28,751
ALLERGAN PLC SHS G0177J108 342 1,093 SH   DFND 1 0 0 1,093
ALPHABET INC CAP STK CL C 02079K107 3,936 5,187 SH   DFND 1 0 0 5,187
ALPHABET INC CAP STK CL A 02079K305 1,637 2,104 SH   DFND 1 0 0 2,104
ALPHABET INC SHS A CAP STK CL A 02079K305 2,328 2,992 SH   DFND   2,992 0 0
AMAZON COM INC COM 23135106 2,985 4,417 SH   DFND 1 0 0 4,417
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 438 3,500 SH   DFND 1 0 0 3,500
APPLE INC COM 37833100 6,601 62,711 SH   DFND 1 0 0 62,711
APPLE INC COM 37833100 393 3,733 SH   DFND 1 0 0 3,733
AT&T INC COM 00206R102 524 15,223 SH   DFND 1 0 0 15,223
BANK AMER CORP COM 60505104 898 53,372 SH   DFND 1 0 0 53,372
BARCLAYS BANK PLC ADR PFD SR 5 06739H362 388 14,613 SH   DFND 1 0 0 14,613
BERKSHIRE HATHAWAY INC DEL CL B NEW 84670702 392 2,966 SH   DFND 1 0 0 2,966
BLACKSTONE GROUP L P COM UNIT LTD 09253U108 597 20,403 SH   DFND 1 0 0 20,403
BOEING CO COM 97023105 225 1,558 SH   DFND 1 0 0 1,558
BOFI HLDG INC COM 05566U108 800 37,997 SH   DFND 1 0 0 37,997
BRISTOL MYERS SQUIBB CO COM 110122108 934 13,577 SH   DFND 1 0 0 13,577
CAPITAL ONE FINL CORP COM 14040H105 403 5,582 SH   DFND 1 0 0 5,582
Check Point Software ORD M22465104 36,371 446,931 SH   SOLE   446,931 0 0
CHECK POINT SOFTWARE TECH LT ORD M22465104 1,839 22,598 SH   DFND 1 0 0 22,598
CHINA MOBILE LIMITED SPONSORED ADR 16941M109 4,461 79,200 SH   DFND 1 0 0 79,200
CISCO SYS INC COM 17275R102 2,291 84,350 SH   DFND 1 0 0 84,350
CITIGROUP INC COM NEW 172967424 1,040 20,104 SH   DFND 1 0 0 20,104
CLAYMORE EXCHANGE TRD FD TR GUGG INSDR SENT 18383M209 1,650 35,467 SH   DFND 1 0 0 35,467
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 215 3,585 SH   DFND 1 0 0 3,585
CONOCOPHILLIPS COM 20825C104 398 8,534 SH   DFND 1 0 0 8,534
CVS HEALTH CORP COM 126650100 1,961 20,054 SH   DFND 1 0 0 20,054
DBX ETF TR XTRAK MSCI EAFE 233051200 847 31,180 SH   DFND 1 0 0 31,180
DBX ETF TR DX TRACKR GERMN 233051408 5,424 225,905 SH   DFND 1 0 0 225,905
DBX ETF TR DBXTR HAR CS 300 233051879 563 20,114 SH   DFND 1 0 0 20,114
DISNEY WALT CO COM DISNEY 254687106 673 6,400 SH   DFND 1 0 0 6,400
EATON VANCE TX MNG BY WRT OP COM 27828Y108 210 13,758 SH   DFND 1 0 0 13,758
Elbit Imaging Ltd ORD SHS M37605108 541 807,202 SH   SOLE   807,202 0 0
Ellomay Capital Limited SHS M39927120 121 14,000 SH   SOLE   14,000 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 220 2,515 SH   DFND 1 0 0 2,515
EXXON MOBIL CORP COM 30231G102 999 12,818 SH   DFND 1 0 0 12,818
FACEBOOK INC CL A 30303M102 632 6,038 SH   DFND 1 0 0 6,038
FACTORSHARES TR ISE CYBER SEC 30304R407 1,464 56,515 SH   DFND 1 0 0 56,515
FINANCIAL SELECT SECTOR SPDR-ETF SBI INT-FINL 81369Y605 533 22,410 SH   DFND   22,410 0 0
FIRST TR EXCHANGE TRADED FD DJ INTERNT IDX 33733E302 1,075 14,407 SH   DFND 1 0 0 14,407
FIRST TR EXCHANGE TRADED FD ISE CLOUD COMP 33734X192 1,721 57,283 SH   DFND 1 0 0 57,283
Gazit Globe Ltd SHS M4793C102 15,402 1,700,000 SH   SOLE   1,700,000 0 0
GENERAL DYNAMICS CORP COM 369550108 305 2,217 SH   DFND 1 0 0 2,217
GENERAL ELECTRIC CO COM 369604103 1,528 49,062 SH   DFND 1 0 0 49,062
GENERAL MOTORS CO -SH COM 37045V100 1,080 31,765 SH   DFND   31,765 0 0
GILEAD SCIENCES INC COM 375558103 3,260 32,214 SH   DFND 1 0 0 32,214
GILEAD SCIENCES INC COM 375558103 246 2,430 SH   DFND 1 0 0 2,430
HCA HOLDINGS INC COM 40412C101 331 4,895 SH   DFND 1 0 0 4,895
HCA HOLDINGS INC -SHS COM 40412C101 576 8,510 SH   DFND   8,510 0 0
HEALTH CARE SELECT SECTOR-ETF SBI HEALTHCARE 81369Y209 6,962 96,630 SH   DFND   96,630 0 0
HEWLETT-PACKARD ENTERP SHS WHEN ISS COM 42824C109 48 3,154 SH   DFND   3,154 0 0
HILTON WORLDWIDE HOLDINGS INC -SHS COM 43300A104 75 3,519 SH   DFND   3,519 0 0
HP -SHS COM 40434L105 37 3,154 SH   DFND   3,154 0 0
HSBC HLDGS CV OPEN-END -VAR SDCV 5.625%12/2 404280AR0 461 450,000 PRN   DFND   450,000 0 0
HSBC HLDGS PLC SDCV 5.625%12/2 404280AR0 1,704 1,700,000 PRN   DFND 1 0 0 1,700,000
INDEXIQ ETF TR US RL EST SMCP 45409B628 311 12,745 SH   DFND 1 0 0 12,745
ING GROUP 6% ADD TIER 1 OPEN-END DBCV 6.000%12/2 456837AE3 711 700,000 PRN   DFND   700,000 0 0
INTEL CORP COM 458140100 399 11,591 SH   DFND 1 0 0 11,591
ISHARES MSCI ITALCPD ETF 464286855 212 15,400 SH   DFND 1 0 0 15,400
ISHARES MSCI EURO FL ETF 464289180 301 14,833 SH   DFND 1 0 0 14,833
ISHARES INDIA 50 ETF 464289529 522 19,215 SH   DFND 1 0 0 19,215
IShares MSCI Germany ETF 464286806 10,476 400,000 SH   SOLE   400,000 0 0
IShares MSCI UK ETF 464286699 4,842 300,000 SH   SOLE   300,000 0 0
IShares US HOME CONS ETF 464288752 11,653 430,000 SH   SOLE   430,000 0 0
ISHARES CCY HEDGED MSCI JAPAN -ETF HDG MSCI JAPAN 46434V886 146 5,080 SH   DFND   5,080 0 0
ISHARES CORE MSCI EMERGING MARK ETF CORE MSCI EMKT 46434G103 3,084 78,300 SH   DFND   78,300 0 0
ISHARES CURRENCY HD MSCI GERM -ETF HDG MSCI GERMN 46434V704 718 7,367 SH   DFND   7,367 0 0
ISHARES FLOATING RATE NOTE FUND-ETF FLTG RATE BD ETF 46429B655 238 4,720 SH   DFND   4,720 0 0
ISHARES MSCI USA MIN VOLATIL IND-FD USA MIN VOL ETF 46429B697 385 9,230 SH   DFND   9,230 0 0
ISHARES TR SELECT DIVID ETF 464287168 622 8,279 SH   DFND 1 0 0 8,279
ISHARES TR IBOXX INV CP ETF 464287242 438 3,845 PRN   DFND 1 0 0 3,845
ISHARES TR GLOB HLTHCRE ETF 464287325 993 9,681 SH   DFND 1 0 0 9,681
ISHARES TR GLOBAL FINLS ETF 464287333 1,831 34,550 SH   DFND 1 0 0 34,550
ISHARES TR 1-3 YR TR BD ETF 464287457 5,084 60,260 PRN   DFND 1 0 0 60,260
ISHARES TR NASDQ BIOTEC ETF 464287556 628 1,856 SH   DFND 1 0 0 1,856
ISHARES TR GLOBAL 100 ETF 464287572 229 3,149 SH   DFND 1 0 0 3,149
ISHARES TR RUS 1000 GRW ETF 464287614 854 8,580 SH   DFND 1 0 0 8,580
ISHARES TR RUS 1000 ETF 464287622 334 2,950 SH   DFND 1 0 0 2,950
ISHARES TR S&P MC 400VL ETF 464287705 217 1,850 SH   DFND 1 0 0 1,850
ISHARES TR U.S. TELECOM ETF 464287713 323 11,230 SH   DFND 1 0 0 11,230
ISHARES TR US HLTHCARE ETF 464287762 931 6,206 SH   DFND 1 0 0 6,206
ISHARES TR AGENCY BOND ETF 464288166 2,135 18,865 PRN   DFND 1 0 0 18,865
ISHARES TR MSCI AC ASIA ETF 464288182 1,613 30,204 SH   DFND 1 0 0 30,204
ISHARES TR JP MOR EM MK ETF 464288281 315 2,977 PRN   DFND 1 0 0 2,977
ISHARES TR IBOXX HI YD ETF 464288513 287 3,566 PRN   DFND 1 0 0 3,566
ISHARES TR INTERM CR BD ETF 464288638 770 7,176 PRN   DFND 1 0 0 7,176
ISHARES TR 1-3 YR CR BD ETF 464288646 944 9,026 PRN   DFND 1 0 0 9,026
ISHARES TR 3-7 YR TR BD ETF 464288661 6,400 52,199 PRN   DFND 1 0 0 52,199
ISHARES TR US HOME CONS ETF 464288752 480 17,723 SH   DFND 1 0 0 17,723
ISHARES TR U.S. INSRNCE ETF 464288786 510 9,970 SH   DFND 1 0 0 9,970
ISHARES TR MSCI INDIA ETF 46429B598 298 10,826 SH   DFND 1 0 0 10,826
ISHARES TR CORE HIGH DV ETF 46429B663 4,445 60,555 SH   DFND 1 0 0 60,555
ISHARES TR 0-5 YR TIPS ETF 46429B747 1,771 17,905 PRN   DFND 1 0 0 17,905
ISHARES TR MSCI USAMOMFCT 46432F396 324 4,418 SH   DFND 1 0 0 4,418
ISHARES TR HDG MSCI GERMN 46434V704 424 17,398 SH   DFND 1 0 0 17,398
ISHARES TR MSCI SPAIN ETF 46435G813 282 13,695 SH   DFND 1 0 0 13,695
Ishares TR U.S. FINLS ETF 464287788 8,838 100,000 SH   DFND   100,000 0 0
JOHNSON & JOHNSON COM 478160104 216 2,102 SH   DFND 1 0 0 2,102
JPMORGAN CHASE & CO COM 46625H100 2,308 34,947 SH   DFND 1 0 0 34,947
JPMORGAN CHASE & CO -SHS COM 46625H100 1,824 27,630 SH   DFND   27,630 0 0
KINDER MORGAN INC DEL COM 49456B101 350 23,480 SH   DFND 1 0 0 23,480
LINKEDIN CORP COM CL A 53578A108 898 3,990 SH   DFND 1 0 0 3,990
MARKET VECTORS ETF TR PHARMACEUTICAL 57060U217 228 3,489 SH   DFND 1 0 0 3,489
MASTERCARD INC CL A 57636Q104 557 5,725 SH   DFND 1 0 0 5,725
MCDONALDS CORP COM 580135101 341 2,886 SH   DFND 1 0 0 2,886
MCKESSON CORP COM 58155Q103 428 2,168 SH   DFND 1 0 0 2,168
MCKESSON CORP -SHS COM 58155Q103 1,602 8,125 SH   DFND   8,125 0 0
MELLANOX TECHNOLOGIES LTD SHS M51363113 314 7,444 SH   DFND 1 0 0 7,444
METLIFE INC COM 59156R108 818 16,973 SH   DFND 1 0 0 16,973
MICRON TECHNOLOGY INC COM 595112103 1,609 113,605 SH   DFND 1 0 0 113,605
MIND C T I LTD ORD M70240102 175 68,980 SH   DFND 1 0 0 68,980
MYLAN N V SHS EURO N59465109 1,571 29,046 SH   DFND 1 0 0 29,046
NETSCOUT SYSTEMS INC -SHS COM 64115T104 11 367 SH   DFND   367 0 0
NOKIA CORP SPONSORED ADR 654902204 1,253 178,540 SH   DFND 1 0 0 178,540
ORBOTECH LTD ORD M75253100 1,359 61,392 SH   DFND 1 0 0 61,392
PAYPAL HLDGS INC COM 70450Y103 624 17,242 SH   DFND 1 0 0 17,242
PERRIGO CO PLC SHS G97822103 850 5,874 SH   DFND 1 0 0 5,874
PFIZER INC COM 717081103 3,105 96,192 SH   DFND 1 0 0 96,192
PIMCO ETF 0-5 Y HI YI CORP BD IND 0-5 HIGH YIELD 72201R783 366 3,995 SH   DFND   3,995 0 0
PIMCO ETF TR 1-5 US TIP IDX 72201R205 785 15,298 PRN   DFND 1 0 0 15,298
PIMCO ETF TR BROAD US TIPS 72201R403 554 10,023 PRN   DFND 1 0 0 10,023
PIMCO ETF TR TTL RTN ACTV ETF 72201R775 3,421 32,827 PRN   DFND 1 0 0 32,827
PIMCO ETF TRUST SHRT MTRTY-ETF ENHAN SHRT MA AC 72201R833 711 7,070 SH   DFND   7,070 0 0
PIMCO ETF TRUST TOTAL RETURN -FD TTL RTN ACTV ETF 72201R775 550 5,280 SH   DFND   5,280 0 0
POLYMET MINING CORP COM 731916102 11 14,000 SH   DFND 1 0 0 14,000
POWERSHARES ETF TR II S&P500 LOW VOL 73937B779 1,331 34,501 SH   DFND 1 0 0 34,501
POWERSHARES ETF TR II S&P SMCP IT PO 73937B860 718 13,720 SH   DFND 1 0 0 13,720
POWERSHARES ETF TRUST NASD INTNT ETF 73935X146 233 2,908 SH   DFND 1 0 0 2,908
POWERSHARES ETF TRUST DYNA BUYBK ACH 73935X286 463 10,179 SH   DFND 1 0 0 10,179
POWERSHARES ETF TRUST II SENIOR LN PORT 73936Q769 1,233 55,058 PRN   DFND 1 0 0 55,058
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 6,276 56,107 SH   DFND 1 0 0 56,107
POWERSHARES QQQ-ETF UNIT SER 1 73935A104 1,141 10,203 SH   DFND   10,203 0 0
PROCTER & GAMBLE CO COM 742718109 547 6,893 SH   DFND 1 0 0 6,893
PROSHARES POWERSHS SR LOAN PORT ETF SENIOR LN PORT 73936Q769 479 21,410 SH   DFND   21,410 0 0
REDHILL BIOPHARMA LTD SPONSORED ADS 757468103 709 55,064 SH   DFND 1 0 0 55,064
SANOFI SPONSORED ADR 80105N105 909 21,309 SH   DFND 1 0 0 21,309
SCHLUMBERGER LTD COM 806857108 236 3,385 SH   DFND 1 0 0 3,385
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 7,142 99,157 SH   DFND 1 0 0 99,157
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 6,529 129,307 PRN   DFND 1 0 0 129,307
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 3,453 44,174 SH   DFND 1 0 0 44,174
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 642 10,642 SH   DFND 1 0 0 10,642
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 10,235 429,521 SH   DFND 1 0 0 429,521
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 843 15,903 SH   DFND 1 0 0 15,903
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 9,494 221,666 SH   DFND 1 0 0 221,666
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 369 8,519 SH   DFND 1 0 0 8,519
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 5,471 70,000 SH   SOLE   70,000 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 17,287 240,000 SH   SOLE   240,000 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 12,849 300,000 SH   SOLE   300,000 0 0
SPDR DOW JONES INDL AVRG ETF UT SER 1 78467X109 251 1,444 SH   DFND 1 0 0 1,444
SPDR INDEX SHS FDS EURO STOXX 50 78463X202 1,544 44,834 SH   DFND 1 0 0 44,834
SPDR INDEX SHS FDS S&P CHINA ETF 78463X400 1,068 14,530 SH   DFND 1 0 0 14,530
SPDR S&P 500 ETF TR TR UNIT 78462F103 12,227 59,976 SH   DFND 1 0 0 59,976
SPDR SERIES TRUST BRC CNV SECS ETF 78464A359 494 11,425 PRN   DFND 1 0 0 11,425
SPDR SERIES TRUST INTR TRM CORP BD 78464A375 2,764 82,682 PRN   DFND 1 0 0 82,682
SPDR SERIES TRUST BRC HGH YLD BD 78464A417 679 20,022 PRN   DFND 1 0 0 20,022
SPDR SERIES TRUST HLTH CR EQUIP 78464A581 1,212 27,185 SH   DFND 1 0 0 27,185
SPDR SERIES TRUST S&P REGL BKG 78464A698 582 13,889 SH   DFND 1 0 0 13,889
SPDR SERIES TRUST S&P PHARMAC 78464A722 995 19,430 SH   DFND 1 0 0 19,430
SPDR SERIES TRUST S&P DIVID ETF 78464A763 253 3,440 SH   DFND 1 0 0 3,440
SPDR SERIES TRUST S&P BK ETF 78464A797 501 14,804 SH   DFND 1 0 0 14,804
SPDR SERIES TRUST S&P HOMEBUILD 78464A888 3,337 97,638 SH   DFND 1 0 0 97,638
SPDR SERIES TRUST S&P HOMEBUILD 78464A888 14,417 421,800 SH   SOLE   421,800 0 0
SPDR TRUST SERIES 1-ETF TR UNIT 78462F103 7,667 37,605 SH   DFND   37,605 0 0
STARBUCKS CORP COM 855244109 207 3,443 SH   DFND 1 0 0 3,443
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 3,076 46,856 SH   DFND 1 0 0 46,856
Tower Semiconductor SHS NEW M87915274 8,476 602,879 SH   SOLE   602,879 0 0
TOYOTA MOTOR CORP SP ADR REP2COM 892331307 210 1,710 SH   DFND 1 0 0 1,710
VANGARD INDEX FDS SMALL CP ETF 922908751 8,851 80,000 SH   SOLE   80,000 0 0
VANGARD INDEX FDS S&P 500 ETF SHS 922908363 3,739 20,000 SH   SOLE   20,000 0 0
VANGARD WORLD FDS FINANCIALS ETF 92204A405 6,783 140,000 SH   SOLE   140,000 0 0
VANGUARD BD INDEX FD INC INTERMED TERM 921937819 435 5,235 PRN   DFND 1 0 0 5,235
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 477 2,550 SH   DFND 1 0 0 2,550
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 1,902 24,085 PRN   DFND 1 0 0 24,085
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 205 2,443 PRN   DFND 1 0 0 2,443
VANGUARD SPECIALIZED PORTFOL DIV APP ETF 921908844 259 3,329 SH   DFND 1 0 0 3,329
VERIZON COMMUNICATIONS INC COM 92343V104 1,368 29,597 SH   DFND 1 0 0 29,597
VERIZON COMMUNICATIONS INC -SHS COM 92343V104 84 1,820 SH   DFND   1,820 0 0
VISA INC COM CL A 92826C839 3,259 42,020 SH   DFND 1 0 0 42,020
VISA INC-CLASS A -SHS COM CL A 92826C839 1,283 16,550 SH   DFND   16,550 0 0
WAL-MART STORES INC COM 931142103 639 10,430 SH   DFND 1 0 0 10,430
Whirlpool Corp COM 963320106 14,687 100,000 SH   SOLE   100,000 0 0
WISDOMTREE EUROPE HED EQ FD -ETF EUROPE HEDGED EQ 97717X701 581 10,805 SH   DFND   10,805 0 0
WISDOMTREE TR DIV EX-FINL FD 97717W406 264 3,752 SH   DFND 1 0 0 3,752
WISDOMTREE TR MIDCAP DIVI FD 97717W505 204 2,530 SH   DFND 1 0 0 2,530
WISDOMTREE TR SMLCAP EARN FD 97717W562 528 6,967 SH   DFND 1 0 0 6,967
WISDOMTREE TR JAPN HEDGE EQT 97717W851 7,243 144,633 SH   DFND 1 0 0 144,633
WISDOMTREE TR EUROPE SMCP DV 97717W869 361 6,450 SH   DFND 1 0 0 6,450
WISDOMTREE TR EUROPE HEDGED EQ 97717X701 6,202 115,254 SH   DFND 1 0 0 115,254
WT EM CPR BD FD -ETF WSDM EMKTBD FD 97717X784 148 2,260 SH   DFND   2,260 0 0
WT JPN HDG EQ - SHS BENEF INT -ETF JAPN HEDGE EQT 97717W851 964 19,255 SH   DFND   19,255 0 0
YAHOO INC COM 984332106 692 20,810 SH   DFND 1 0 0 20,810
ZOETIS INC CL A 98978V103 2,197 45,845 SH   DFND 1 0 0 45,845