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
1st Century Bancshrs Inc COM 31943X102 125 18,150 SH   SOLE   0 0 18,150
3M Co COM 88579Y101 2,411 16,002 SH   SOLE   0 0 16,002
ABB Ltd ADR 000375204 1,708 96,355 SH   SOLE   0 0 96,355
AECOM TECHNOLOGY COM 00766T100 210 7,000 SH   DFND   7,000 0 0
AGCO CORP COM 001084102 227 5,000 SH   DFND   5,000 0 0
Allstate Corp COM 020002101 1,613 25,981 SH   SOLE   0 0 25,981
Amgen Inc COM 031162100 2,936 18,084 SH   SOLE   0 0 18,084
Analog Devices Inc ADR 032654105 1,836 33,195 SH   SOLE   0 0 33,195
Apple Inc COM 037833100 208 1,975 SH   SOLE   0 0 1,975
Artesian Resource Corp COM 043113208 2,086 75,317 SH   SOLE   0 0 75,317
Bank of America Corporation COM 060505104 303 17,988 SH   SOLE   0 0 17,988
BIG 5 SPORTING GOODS CORP COM 08915P101 400 40,000 SH   DFND   40,000 0 0
BlackRock Intern l Grth & Inc Common COM 092524107 1,759 281,921 SH   SOLE   0 0 281,921
BlackRock MuniYield Qty III COM 09254E103 1,064 72,247 SH   SOLE   0 0 72,247
BOK Financial Corp COM 05561Q201 224 3,751 SH   SOLE   0 0 3,751
CAL-MAINE FOODS COM 128030202 269 5,800 SH   DFND   5,800 0 0
CALPINE CORP COM 131347304 289 20,000 SH   DFND   20,000 0 0
CEMEX SAB-SP ADR ADR 151290889 148 26,605 SH   DFND   26,605 0 0
Chase Corp COM 16150R104 3,639 89,345 SH   SOLE   0 0 89,345
Cimarex Energy Co COM 171798101 2,472 27,661 SH   SOLE   0 0 27,661
Coca-Cola Co COM 191216100 326 7,588 SH   SOLE   0 0 7,588
CONMED CORPORATION COM 207410101 441 10,000 SH   DFND   10,000 0 0
Consumer Discret Sel Sect SPDR® ETF COM 81369Y407 3,568 45,652 SH   SOLE   0 0 45,652
Consumer Staples Select Sector SPDR® ETF COM 81369Y308 4,507 89,275 SH   SOLE   0 0 89,275
Csi Compressco Lp Com Unit COM 12637A103 936 82,089 SH   SOLE   0 0 82,089
DENTSPLY INTL COM 249030107 529 8,700 SH   DFND   8,700 0 0
Energy Select Sector SPDR® ETF COM 81369Y506 2,529 41,929 SH   SOLE   0 0 41,929
Enterprise Products Partners LP COM 293792107 2,188 85,552 SH   SOLE   0 0 85,552
Everest Re Group Ltd COM G3223R108 2,259 12,341 SH   SOLE   0 0 12,341
Exxon Mobil Corporation COM 30231G102 2,906 37,285 SH   SOLE   0 0 37,285
First Financial Bankshares Inc COM 32020R109 208 6,900 SH   SOLE   0 0 6,900
Ford Motor Co COM 345370860 1,376 97,646 SH   SOLE   0 0 97,646
Guggenheim BulletShrs 2018 Corp Bd ETF COM 18383M530 593 28,216 SH   SOLE   0 0 28,216
Guggenheim BulletShrs 2018 HY CorpBd ETF COM 18383M381 4,155 175,613 SH   SOLE   0 0 175,613
Guggenheim BulletShrs 2020 Corp Bd ETF COM 18383M514 522 24,981 SH   SOLE   0 0 24,981
Guggenheim S&P 500 Eq Weight HC ETF COM 78355W841 3,498 22,793 SH   SOLE   0 0 22,793
Guggenheim S&P 500 Equal Weight ETF COM 78355W106 3,461 45,158 SH   SOLE   0 0 45,158
Ingles Markets Inc COM 457030104 3,899 88,443 SH   SOLE   0 0 88,443
INTERCONTINENTAL HOTELS COM 45857P509 210 5,414 SH   DFND   5,414 0 0
Invesco Muni Opps. Trust Common COM 46132C107 971 73,695 SH   SOLE   0 0 73,695
iShares Cali AMT-Free Muni Bond COM 464288356 513 4,344 SH   SOLE   0 0 4,344
iShares Cohen & Steers REIT COM 464287564 3,141 31,649 SH   SOLE   0 0 31,649
iShares Core S&P Mid-Cap COM 464287507 2,600 18,666 SH   SOLE   0 0 18,666
iShares Core US Aggregate Bond COM 464287226 445 4,121 SH   SOLE   0 0 4,121
iShares Floating Rate Bond COM 46429B655 4,873 96,615 SH   SOLE   0 0 96,615
iShares Global Healthcare COM 464287325 3,319 32,342 SH   SOLE   0 0 32,342
iShares iBoxx $ Invst Grade Crp Bond COM 464287242 312 2,740 SH   SOLE   0 0 2,740
iShares MBS COM 464288588 307 2,852 SH   SOLE   0 0 2,852
ISHARES MSCI AC ASIA COM 464288182 427 8,000 SH   DFND   8,000 0 0
iShares MSCI EAFE COM 464287465 8,159 138,950 SH   SOLE   0 0 138,950
iShares MSCI EAFE Small-Cap COM 464288273 2,658 53,206 SH   SOLE   0 0 53,206
iShares MSCI EMU COM 464286608 1,590 45,363 SH   SOLE   0 0 45,363
iShares National AMT-Free Muni Bond COM 464288414 1,237 11,177 SH   SOLE   0 0 11,177
iShares Russell 1000 COM 464287622 1,127 9,950 SH   SOLE   0 0 9,950
iShares Russell 2000 COM 464287655 1,078 9,570 SH   SOLE   0 0 9,570
iShares Russell Mid-Cap COM 464287499 1,102 6,878 SH   SOLE   0 0 6,878
iShares Select Dividend COM 464287168 2,988 39,765 SH   SOLE   0 0 39,765
J.C. PENNEY CO COM 708160106 147 22,000 SH   DFND   22,000 0 0
JAMES HARDIE IND PLC ADR ADR 47030M106 317 25,000 SH   DFND   25,000 0 0
JH Financial Opportunities Common COM 409735206 3,068 109,465 SH   SOLE   0 0 109,465
Johnson & Johnson COM 478160104 2,570 25,023 SH   SOLE   0 0 25,023
KVH INDUSTRIES ADR 482738101 283 30,000 SH   DFND   30,000 0 0
LIFEPOINT HOSPIT COM 53219L109 367 5,000 SH   DFND   5,000 0 0
LLOYDS BANKING GROUP PLC COM 539439109 92 21,000 SH   DFND   21,000 0 0
Lowe s Companies Inc COM 548661107 3,005 39,519 SH   SOLE   0 0 39,519
MARKET VECTORS AFRICA COM 57060U787 184 10,340 SH   DFND   10,340 0 0
MetLife Inc COM 59156R108 1,854 38,448 SH   SOLE   0 0 38,448
MILLER IND INC/TENN COM 600551204 229 10,500 SH   DFND   10,500 0 0
National Western Life Insurance COM 638517102 2,440 9,683 SH   SOLE   0 0 9,683
NETAPP INC COM 64110D104 239 9,000 SH   DFND   9,000 0 0
NORFOLK SOUTHERN COM 655844108 296 3,500 SH   DFND   3,500 0 0
NORTHWEST NAT GS COM 667655104 354 7,000 SH   DFND   7,000 0 0
NorthWestern Corp COM 668074305 2,246 41,408 SH   SOLE   0 0 41,408
Novartis AG ADR 66987V109 2,459 28,579 SH   SOLE   0 0 28,579
Nuveen Intermediate Duration Muni Term COM 670671106 1,438 111,805 SH   SOLE   0 0 111,805
PIMCO Enhanced Short Maturity ETF COM 72201R833 5,197 51,650 SH   SOLE   0 0 51,650
PowerShares Global Water ETF COM 73936T623 2,640 126,132 SH   SOLE   0 0 126,132
PROCTER & GAMBLE COM 742718109 278 3,500 SH   DFND   3,500 0 0
PUB SERV ENTERP COM 744573106 310 8,000 SH   DFND   8,000 0 0
Qualcomm Inc COM 747525103 230 4,609 SH   SOLE   0 0 4,609
RGC Resources COM 74955L103 528 24,770 SH   SOLE   0 0 24,770
Royce Micro Cap Trust Common COM 780915104 1,742 239,884 SH   SOLE   0 0 239,884
Royce Value Trust Common COM 780910105 2,684 228,028 SH   SOLE   0 0 228,028
Schwab International Equity ETF COM 808524805 321 11,644 SH   SOLE   0 0 11,644
Schwab US Aggregate Bond ETF COM 808524839 661 12,837 SH   SOLE   0 0 12,837
Schwab US Mid-Cap ETF COM 808524508 406 10,134 SH   SOLE   0 0 10,134
Schwab US Small-Cap ETF COM 808524607 390 7,484 SH   SOLE   0 0 7,484
Southern Co COM 842587107 2,473 52,851 SH   SOLE   0 0 52,851
SPDR Barclays Short Term Corp Bd ETF COM 78464A474 5,088 167,381 SH   SOLE   0 0 167,381
SPDR Morgan Stanley Technology ETF COM 78464A102 2,702 49,969 SH   SOLE   0 0 49,969
SPDR S&P 500 ETF COM 78462F103 302 1,480 SH   SOLE   0 0 1,480
SPDR S&P MidCap 400 ETF COM 78467Y107 361 1,423 SH   SOLE   0 0 1,423
Stryker Corporation COM 863667101 2,170 23,349 SH   SOLE   0 0 23,349
Twenty-First Century Fox Inc COM 90130A101 290 10,674 SH   SOLE   0 0 10,674
UDR Inc COM 902653104 374 9,951 SH   SOLE   0 0 9,951
Valmont Industries Inc COM 920253101 2,106 19,867 SH   SOLE   0 0 19,867
Vanguard Consumer Discretionary ETF COM 92204A108 256 2,087 SH   SOLE   0 0 2,087
Vanguard Energy ETF COM 92204A306 243 2,918 SH   SOLE   0 0 2,918
Vanguard FTSE Emerging Markets ETF COM 922042858 457 13,970 SH   SOLE   0 0 13,970
Vanguard FTSE Europe ETF COM 922042874 1,799 36,061 SH   SOLE   0 0 36,061
Vanguard Information Technology ETF COM 92204A702 2,563 23,665 SH   SOLE   0 0 23,665
Vanguard S&P 500 ETF COM 922908363 283 1,512 SH   SOLE   0 0 1,512
Vanguard Total Bond Market ETF COM 921937835 387 4,790 SH   SOLE   0 0 4,790
Verizon Communication COM 92343V104 234 5,071 SH   DFND   5,071 0 0
Voya Asia Pacific High Dividend Eq Inc COM 92912J102 1,312 145,299 SH   SOLE   0 0 145,299
WELLS FARGO & CO COM 949746101 326 6,000 SH   DFND   6,000 0 0
Western Asset Glb Corp Def Opp Common COM 95790C107 3,893 246,395 SH   SOLE   0 0 246,395
Western Asset High Income Opp COM 95766K109 3,531 752,842 SH   SOLE   0 0 752,842
WGL Holdings Inc COM 92924F106 3,026 48,040 SH   SOLE   0 0 48,040
Williams Companies Inc COM 969457100 2,088 81,233 SH   SOLE   0 0 81,233
Wpx Energy Inc COM 98212B103 132 22,944 SH   SOLE   0 0 22,944