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
AMERICAN AIRLS GROUP INC COM 02376R102 534 13,003 SH   DFND 1 13,003 0 0
AMERICAN TOWER CORP NEW COM 03027X100 3 26 SH   DFND 1 26 0 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 2 9 SH   DFND 1 9 0 0
APPLE INC COM 037833100 2 18 SH   DFND 1 18 0 0
AUTOMATIC DATA PROCESSING IN COM 053015103 3 28 SH   DFND 1 28 0 0
BANK AMER CORP COM 060505104 5 300 SH   DFND 1 300 0 0
BANK NEW YORK MELLON CORP COM 064058100 3 66 SH   DFND 1 66 0 0
C H ROBINSON WORLDWIDE INC COM NEW 12541W209 2 15 SH   DFND 1 15 0 0
CVS HEALTH CORP COM 126650100 3 24 SH   DFND 1 24 0 0
CALATLANTIC GROUP INC COM 128195104 1 6 SH   DFND 1 6 0 0
CITIGROUP INC COM NEW 172967424 47,983 1,149,288 SH   DFND 1 1,149,288 0 0
COCA COLA CO COM 191216100 3 49 SH   DFND 1 49 0 0
COMCAST CORP NEW CL A 20030N101 3 39 SH   DFND 1 39 0 0
COSTCO WHSL CORP NEW COM 22160K105 2 12 SH   DFND 1 12 0 0
DISNEY WALT CO COM DISNEY 254687106 2 16 SH   DFND 1 16 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 2 26 SH   DFND 1 26 0 0
ECOLAB INC COM 278865100 3 20 SH   DFND 1 20 0 0
EXXON MOBIL CORP COM 30231G102 15 177 SH   DFND 1 177 0 0
GENERAL ELECTRIC CO COM 369604103 11 321 SH   DFND 1 321 0 0
HERCULES OFFSHORE INC COM NEW 427093307 3,823 1,592,646 SH   DFND 1 1,592,646 0 0
HOME DEPOT INC COM 437076102 3 22 SH   DFND 1 22 0 0
INTEL CORP COM 458140100 3 74 SH   DFND 1 74 0 0
INTL PAPER CO COM 460146103 3 58 SH   DFND 1 58 0 0
INVESCO MUN OPPORTUNITY TR COM 46132C107 9 590 SH   DFND 1 590 0 0
ISHARES TR IBOXX HI YD ETF 464288513 15,925 194,941 SH   DFND 1 0 0 194,941
ISHARES TR U.S. PFD STK ETF 464288687 3,825 98,000 SH   DFND 1 0 0 98,000
JPMORGAN CHASE & CO COM 46625H100 18,951 320,000 SH   DFND 1 320,000 0 0
JOHNSON & JOHNSON COM 478160104 3 24 SH   DFND 1 24 0 0
KIMBERLY CLARK CORP COM 494368103 3 19 SH   DFND 1 19 0 0
LIBERTY MEDIA CORP DEB 3.750% 2/1 530715AL5 20 37,975 PRN   DFND 1 37,975 0 0
MCDONALDS CORP COM 580135101 2 11 SH   DFND 1 11 0 0
MERCK & CO INC NEW COM 58933Y105 3 50 SH   DFND 1 50 0 0
METLIFE INC COM 59156R108 3 60 SH   DFND 1 60 0 0
MICROSOFT CORP COM 594918104 3 39 SH   DFND 1 39 0 0
MONMOUTH REAL ESTATE INVT CO CL A 609720107 8 650 SH   DFND 1 650 0 0
NEXTERA ENERGY INC COM 65339F101 2 16 SH   DFND 1 16 0 0
NUVEEN MUN OPPORTUNITY FD IN COM 670984103 9 600 SH   DFND 1 600 0 0
PPG INDS INC COM 693506107 3 23 SH   DFND 1 23 0 0
PEPSICO INC COM 713448108 3 20 SH   DFND 1 20 0 0
PFIZER INC COM 717081103 7 207 SH   DFND 1 207 0 0
POWERSHARES DB CMDTY IDX TRA UNIT BEN INT 73935S105 25,863 1,946,000 SH   DFND 1 0 0 1,946,000
POWERSHARES ETF TRUST II SENIOR LN PORT 73936Q769 300 13,200 SH   DFND 1 0 0 13,200
PROCTER & GAMBLE CO COM 742718109 2 18 SH   DFND 1 18 0 0
QUAD / GRAPHICS INC COM CL A 747301109 2 106 SH   DFND 1 106 0 0
RAYTHEON CO COM NEW 755111507 2 14 SH   DFND 1 14 0 0
RESOLUTE FST PRODS INC COM 76117W109 1 44 SH   DFND 1 44 0 0
ROYCE GLOBAL VALUE TR INC COM 78081T104 1 114 SH   DFND 1 114 0 0
ROYCE VALUE TR INC COM 780910105 12 1,000 SH   DFND 1 1,000 0 0
SCHLUMBERGER LTD COM 806857108 4 44 SH   DFND 1 44 0 0
SEMGROUP CORP CL A 81663A105 559 24,938 SH   DFND 1 24,938 0 0
SPECTRA ENERGY CORP COM 847560109 3 86 SH   DFND 1 86 0 0
SYSCO CORP COM 871829107 8 154 SH   DFND 1 154 0 0
TEXAS INSTRS INC COM 882508104 2 34 SH   DFND 1 34 0 0
3M CO COM 88579Y101 3 13 SH   DFND 1 13 0 0
TIME WARNER INC COM NEW 887317303 3 37 SH   DFND 1 37 0 0
TRAVELERS COMPANIES INC COM 89417E109 3 20 SH   DFND 1 20 0 0
UNION PAC CORP COM 907818108 3 26 SH   DFND 1 26 0 0
UNITED PARCEL SERVICE INC CL B 911312106 3 22 SH   DFND 1 22 0 0
UNITEDHEALTH GROUP INC COM 91324P102 2 9 SH   DFND 1 9 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 3 46 SH   DFND 1 46 0 0
WEC ENERGY GROUP INC COM 92939U106 3 39 SH   DFND 1 39 0 0
WAL-MART STORES INC COM 931142103 3 39 SH   DFND 1 39 0 0
WASTE MGMT INC DEL COM 94106L109 3 35 SH   DFND 1 35 0 0
WEYERHAEUSER CO COM 962166104 3 69 SH   DFND 1 69 0 0
WISDOMTREE TR HIGH DIV FD 97717W208 212 3,345 SH   DFND 1 0 0 3,345
WISDOMTREE TR EMER MKT HIGH FD 97717W315 18 500 SH   DFND 1 0 0 500
WISDOMTREE TR GLB NAT RES FD 97717W711 88 7,500 SH   DFND 1 0 0 7,500
ZOETIS INC CL A 98978V103 2 25 SH   DFND 1 25 0 0
BANCO BILBAO VIZCAYA FDIC TL DEBT 9.000%12/2 E1R845AX9 28,821 27,600,000 SH   DFND 1 0 0 27,600,000
LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 8 82 SH   DFND 1 82 0 0