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
DB HARVEST CSI 300 CHINA A ETP 233051879 4,036 144,252 SH   DFND 1,2 0 144,252 0
SPDR S&P RETAIL ETF ETP 78464A714 3,238 74,890 SH   DFND 1,2 0 74,890 0
ISHARES DJ TRANSPORT AVG ETP 464287192 2,639 19,590 SH   DFND 1, 0 19,590 0
EWP-ISHARES MSCI SPAIN ETP 464286764 4,847 171,440 SH   DFND 1,2 0 171,440 0
VANGUARD FINANCIALS ETF ETP 92204A405 11,560 238,590 SH   DFND 1,2 0 238,590 0
SPDR S&P INSURANCE ETF ETP 78464A789 1,551 22,320 SH   DFND 1,2 0 22,320 0
SPDR S&P HOMEBUILDER ETP 78464A888 3,189 93,300 SH   DFND 1,2 0 93,300 0
MARKET VECTORS RUSSIA SMALL CAP ETP 57061R585 64 3,332 SH   DFND ,2 0 3,332 0
POWERSHARES S&P SMALLCAP INFO TECH ETP 73937B860 680 13,000 SH   DFND 1, 0 13,000 0
EWZ- ISHARES BRAZIL ETP 464286400 2,598 125,650 SH   DFND ,2 0 125,650 0
GLOBAL X BRAZIL CONSUMER ETP 37950E846 3 426 SH   DFND 1, 0 426 0
WIX Common Stock M98068105 1,050 46,142 SH   DFND ,2 0 46,142 0
ISHARES MSCI GLOBAL GOLD MINERS ETP 464286335 58 10,500 SH   DFND ,2 0 10,500 0
S&P OIL & GAS EQUIPMENT SERVICES ETP 78464A748 177 10,100 SH   DFND ,2 0 10,100 0
SPDR S&P CHINA ETP 78463X400 757 10,240 SH   DFND 1,2 0 10,240 0
INDUSTRIAL SELECT ETP 81369Y704 4,876 91,980 SH   DFND 1,2 0 91,980 0
KBW REGIONAL BANKING ETP 78464A698 2,092 49,900 SH   DFND 1,2 0 49,900 0
WISDOM TREE INDIA EARNINGS ETP 97717W422 1,168 58,800 SH   DFND ,2 0 58,800 0
ISHARES MSCI ITALY ETP 464286855 607 44,210 SH   DFND 1,2 0 44,210 0
POWERSHARES QQQ ETP 73935A104 21,797 194,650 SH   DFND 1,2 0 194,650 0
ISHA HEDGED MSCI GERMANY ETP 46434V704 561 23,020 SH   DFND 1,2 0 23,020 0
GLOBAL X CHINA CONSUMER ETP 37950E408 36 3,000 SH   DFND 1, 0 3,000 0
VIEWTRAN GROUP Common Stock G9363W104 9 11,200 SH   DFND 1, 0 11,200 0
ISHARES DJ CONSTRUC ETP 464288752 759 28,000 SH   DFND 1,2 0 28,000 0
ISHARES EUROPE ETF ETP 464287861 870 21,680 SH   DFND 1, 0 21,680 0
ISHARES US MEDICAL DEVICES ETP 464288810 239 1,950 SH   DFND ,2 0 1,950 0
ISHARES MSCI MEXICO ETP 464286822 381 7,650 SH   DFND ,2 0 7,650 0
PUREFUNDS ISE CYBER SECURITY ETF ETP 30304R407 259 10,000 SH   DFND 1,2 0 10,000 0
WHITING PETROLEUM CORP Common Stock 966387102 497 52,700 SH   DFND ,2 0 52,700 0
HEALTH CARE SELECT ETP 81369Y209 3,529 48,990 SH   DFND 1,2 0 48,990 0
MORGAN STANLEY CHINA A SHARE Closed-End Fund 617468103 97 4,874 SH   DFND 1, 0 4,874 0
MARKET VECTORS INDIA SMALL - CAP ETP 57061R551 34 780 SH   DFND 1,2 0 780 0
ISHARES CURR HEDGED MSCI JAPAN ETP 46434V886 146 5,100 SH   DFND 1, 0 5,100 0
FINANCIAL SELECT ETP 81369Y605 3,225 135,330 SH   DFND 1,2 0 135,330 0
ENERGY S.SECTOR SPDR ETP 81369Y506 1,810 30,000 SH   DFND 1,2 0 30,000 0
CONSUMER STAPLE ETP 81369Y308 1,277 25,300 SH   DFND 1, 0 25,300 0
ISHARES MSCI TAIWAN ETF ETP 464286731 419 32,800 SH   DFND ,2 0 32,800 0
PVH CORP Common Stock 693656100 737 10,000 SH   DFND 1,2 0 10,000 0
CONSUMER DISCRETIONA ETP 81369Y407 1,278 16,350 SH   DFND 1,2 0 16,350 0
ELLOMAY CAPITAL Common Stock M39927120 9 1,000 SH   DFND 1, 0 1,000 0
EWG - ISHARES GERMAN ETP 464286806 486 18,550 SH   DFND 1,2 0 18,550 0
VANGUARD MSCI EUROP ETF ETP 922042874 1,178 23,625 SH   DFND ,2 0 23,625 0
AERCAP HOLDINGS N.V Common Stock N00985106 669 15,500 SH   DFND 1,2 0 15,500 0
MALLINCKRODT PLC Common Stock G5785G107 597 8,000 SH   DFND ,2 0 8,000 0
ISHARES INDIA 50 ETF ETP 464289529 52 1,900 SH   DFND 1, 0 1,900 0
POWERSHARES DYN PHARMACEUTIC ETP 73935X799 106 1,480 SH   DFND 1, 0 1,480 0
ISHARES MSCI UK ETP 46434V548 142 8,810 SH   DFND 1,2 0 8,810 0
WISDOM TREE JAPAN HEDGED ETP 97717W851 792 15,805 SH   DFND 1,2 0 15,805 0
FIREEYE INC Common Stock 31816Q101 174 8,410 SH   DFND 1,2 0 8,410 0
SPDR S&P 500 ETF TRUST ETP 78462F103 6,139 30,030 SH   DFND 1,2 0 30,030 0
ISHARES MSCI EUROPE FINANCE ETP 464289180 11 520 SH   DFND 1, 0 520 0
ISHARES NASDAQ BIOTECH ETP 464287556 262 775 SH   DFND 1, 0 775 0
MICRON TECH Common Stock 595112103 402 28,400 SH   DFND ,2 0 28,400 0
WESTERN DIGITAL CORP Common Stock 958102105 346 5,750 SH   DFND 1,2 0 5,750 0
ISHARES CHINA LARGE CAP ETP 464287184 124 3,500 SH   DFND 1, 0 3,500 0
Tech Select Sec SPDR ETP 81369Y803 308 7,200 SH   DFND 1,2 0 7,200 0
THE KROGER CO Common Stock 501044101 859 20,540 SH   DFND 1,2 0 20,540 0
WHOLE FOODS MARKET INC Common Stock 966837106 201 6,000 SH   DFND 1,2 0 6,000 0
PETROLEO ADR 71654V408 281 65,300 SH   DFND ,2 0 65,300 0
ISHARES MSCI PACIFIC EX-JAPAN ETP 464286665 35 900 SH   DFND ,2 0 900 0
DJ SELECT DIVID ETP 464287168 220 2,923 SH   DFND 1, 0 2,923 0
SYNAPTICS INC Common Stock 87157D109 48 600 SH   DFND 1, 0 600 0
CA inc Common Stock 12673P105 207 7,250 SH   DFND ,2 0 7,250 0
GUGGENHEIM S&P EQUAL WEI ETP 78355W106 154 2,000 SH   DFND 1, 0 2,000 0
CHIPOTLE MEXICAN GRILL INC Common Stock 169656105 238 495 SH   DFND ,2 0 495 0
BANK OF AMERICA Common Stock 60505104 2,752 163,330 SH   DFND 1,2 0 163,330 0
AIG- AMERICAN INTERNATIONAL GROUP Common Stock 26874784 1,177 19,000 SH   DFND 1,2 0 19,000 0
EXPRESS SCRIPTS HOLDING CO Common Stock 30219G108 881 10,080 SH   DFND 1,2 0 10,080 0
AMERICAN EXPRESS Common Stock 25816109 1,008 14,500 SH   DFND 1,2 0 14,500 0
ACCENTURE PLC-CL A Common Stock G1151C101 891 8,530 SH   DFND 1,2 0 8,530 0
GILEAD SCIENCES INC Common Stock 375558103 1,971 19,470 SH   DFND 1,2 0 19,470 0
MASTERCARD INC-CLASS A Common Stock 57636Q104 1,420 14,580 SH   DFND 1,2 0 14,580 0
BANCO BRADESCO ADR 59460303 165 33,000 SH   DFND 1, 0 33,000 0
MOBILE TELESYSTEMS ADR 607409109 77 12,500 SH   DFND ,2 0 12,500 0
GENERAL MOTORS CO Common Stock 37045V100 629 18,500 SH   DFND 1,2 0 18,500 0
SHARES S$P 100 INDE ETP 464287101 53 583 SH   DFND 1, 0 583 0
ISHARES RUSSEL 1000 ETP 464287622 170 1,500 SH   DFND 1, 0 1,500 0
MIDDLEBY CORP Common Stock 596278101 68 630 SH   DFND 1, 0 630 0
ISHARES CORE HIGH DIVIDEND ETP 46429B663 44 600 SH   DFND 1, 0 600 0
QIHOO 360 ADR 74734M109 68 930 SH   DFND 1, 0 930 0
GOOGLE INC-CL A Common Stock 38259P508 2,101 2,700 SH   DFND 1,2 0 2,700 0
CEF ISHARES RUSSELL ETP 464287655 237 2,100 SH   DFND 1, 0 2,100 0
SPDR KBW BANK ETP 78464A797 24 700 SH   DFND ,2 0 700 0
CHECK POINT SOFWARE Common Stock M22465104 124 1,520 SH   DFND 1, 0 1,520 0
CISCO SYSTEMS INC Common Stock 17275R102 1,111 40,930 SH   DFND 1,2 0 40,930 0
VALE S.A ADR 91912E105 85 25,900 SH   DFND ,2 0 25,900 0
UTILITIES SELECT SEC ETP 81369Y886 43 1,000 SH   DFND 1, 0 1,000 0
EXPEDIA INC Common Stock 30212P303 124 1,000 SH   DFND 1, 0 1,000 0
ISHARES MSCI JAPAN ETP 464286848 130 10,763 SH   DFND 1, 0 10,763 0
GOLD FIELDS ADR 38059T106 14 5,000 SH   DFND ,2 0 5,000 0
SUPERCOM LTD Common Stock M87095119 0 96 SH   DFND 1, 0 96 0
MOBILEYE NV Common Stock N51488117 55 1,300 SH   DFND 1, 0 1,300 0
US NATURAL GAS ETP 912318201 3 312 SH   DFND 1, 0 312 0
PROCTER & GAMBLE CO/THE Common Stock 742718109 1,112 14,000 SH   DFND 1,2 0 14,000 0
PALO ALTO Common Stock 697435105 70 400 SH   DFND 1, 0 400 0
PEPSICO INC Common Stock 713448108 615 6,150 SH   DFND 1, 0 6,150 0
PFIZER INC Common Stock 717081103 663 20,530 SH   DFND 1, 0 20,530 0
MEDTRONIC PLC Common Stock G5960L103 346 4,500 SH   DFND 1,2 0 4,500 0
UNILEVER NY Reg Shrs 904784709 234 5,400 SH   DFND 1,2 0 5,400 0
VANGUARD VALUE ETP 922908744 53 650 SH   DFND ,2 0 650 0
WISDOME TREE EUROPE HEDGED EQU ETP 97717X701 45 834 SH   DFND 1, 0 834 0
BAIDU.COM ADR 56752108 136 720 SH   DFND 1, 0 720 0
VANGUARD DIVIDEND APPREC ETP 921908844 47 600 SH   DFND 1, 0 600 0
HARLY DAV Common Stock 412822108 19 420 SH   DFND 1, 0 420 0
MARATHON PETROLEUM Common Stock 56585A102 60 1,154 SH   DFND 1, 0 1,154 0
CITIGROUP INC Common Stock 172967424 334 6,450 SH   DFND 1,2 0 6,450 0
ADOBE SYSTEMS INC Common Stock 00724F101 94 1,000 SH   DFND 1, 0 1,000 0
BANCO SANTANDER S.A ADR 05964H105 139 28,586 SH   DFND 1, 0 28,586 0
SALEFORCE.COM INC Common Stock 79466L302 85 1,090 SH   DFND 1, 0 1,090 0
APPLE COMPUTERS Common Stock 37833100 785 7,455 SH   DFND 1,2 0 7,455 0
VANGUARD REIT VNQ ETP 922908553 31 390 SH   DFND 1, 0 390 0
Vanguard FTSE Emerging Markets ETF ETP 922042858 33 1,000 SH   DFND ,2 0 1,000 0
ORACLE CORPORATION Common Stock 68389X105 139 3,800 SH   DFND 1,2 0 3,800 0
YAHOO INC Common Stock 984332106 23 700 SH   DFND 1, 0 700 0
FACEBOOK Common Stock 30303M102 159 1,520 SH   DFND 1, 0 1,520 0
GOLDMAN SACHS Common Stock 38141G104 51 285 SH   DFND 1, 0 285 0
VISA INC Common Stock 92826C839 98 1,260 SH   DFND 1, 0 1,260 0
WELLS FARGO COM Common Stock 949746101 142 2,610 SH   DFND 1, 0 2,610 0
YUM BRANDS INC Common Stock 988498101 13 175 SH   DFND ,2 0 175 0
INTEL CORP Common Stock 458140100 65 1,900 SH   DFND 1, 0 1,900 0
GOOGLE INC-CL C Common Stock 38259P706 87 115 SH   DFND 1, 0 115 0
ALIBABA GROUP ADR 01609W102 71 870 SH   DFND 1, 0 870 0
EBAY Common Stock 278642103 11 400 SH   DFND 1, 0 400 0
3M COMPANY Common Stock 88579Y101 30 200 SH   DFND 1, 0 200 0
EXXON MOBIL CORP Common Stock 30231G102 87 1,120 SH   DFND 1, 0 1,120 0
QUALCOMM INC Common Stock 747525103 20 400 SH   DFND 1, 0 400 0
GENERAL ELECTRIC CO Common Stock 369604103 53 1,700 SH   DFND ,2 0 1,700 0
MICROSOFT Common Stock 594918104 72 1,300 SH   DFND 1,2 0 1,300 0
CREDIT SUISSE GROUP ADR 225401108 7 307 SH   DFND ,2 0 307 0
AT&T INC Common Stock 00206R102 29 830 SH   DFND 1, 0 830 0
MARATHON OIL CORP Common Stock 565849106 0 30 SH   DFND 1, 0 30 0
PHILLIPS 66 Common Stock 718546104 2 20 SH   DFND 1, 0 20 0
CONOCOPHILLIPS Common Stock 20825C104 2 40 SH   DFND 1, 0 40 0
TEL DE ESPANA-ADOR ADR 879382208 2 158 SH   DFND 1, 0 158 0
SANOFI C Right 80105N113 0 7 SH   DFND 1, 0 7 0
BARRICK GOLD CORP Common Stock 67901108 0 2 SH   DFND 1, 0 2 0
PIER 1 IMPORTS INC Common Stock 720279108 0 0 SH   DFND 1, 0 0 0
SPDR DJIA TRUST ETP 78467X109 0 0 SH   DFND ,2 0 0 0