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
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 200 2,032 SH   DFND   0 0 2,032
ADAMS DIVERSIFIED EQUITY FD COM 006212104 144 11,330 SH   DFND   0 0 11,330
ADVANCE AUTO PARTS INC COM 00751Y106 481 2,538 SH   DFND   0 0 2,538
ADVENT CLAY CONV SEC INC FD COM 007639107 290 53,600 SH   DFND   0 0 53,600
ADVENT CLAYMORE ENH GRW & IN COM 00765E104 256 31,200 SH   DFND   0 0 31,200
ALPINE GLOBAL PREMIER PPTYS COM SBI 02083A103 174 31,100 SH   DFND   0 0 31,100
APPLE INC COM 037833100 1,618 14,671 SH   DFND   0 0 14,671
ATHENAHEALTH INC COM 04685W103 422 3,168 SH   DFND   0 0 3,168
BAXALTA INC COM 07177M103 266 8,457 SH   DFND   0 0 8,457
BERKSHIRE HATHAWAY INC DEL CL A 084670108 1,952 10 SH   DFND   0 0 10
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 333 2,550 SH   DFND   0 0 2,550
CALPINE CORP COM NEW 131347304 664 45,500 SH   DFND   0 0 45,500
CISCO SYS INC COM 17275R102 283 10,792 SH   DFND   0 0 10,792
CLAYMORE EXCHANGE TRD FD TR GUGG TIMBER ETF 18383Q879 322 14,427 SH   DFND   0 0 14,427
COHEN & STEERS QUALITY RLTY COM 19247L106 220 19,500 SH   DFND   0 0 19,500
CUSHING MLP TOTAL RETURN FD COM NEW 231631201 125 10,660 SH   DFND   0 0 10,660
DUFF & PHELPS GLB UTL INC FD COM 26433C105 185 12,200 SH   DFND   0 0 12,200
DUKE REALTY CORP COM NEW 264411505 757 39,731 SH   DFND   0 0 39,731
E M C CORP MASS COM 268648102 301 12,471 SH   DFND   0 0 12,471
ENTERPRISE PRODS PARTNERS L COM 293792107 203 8,140 SH   DFND   0 0 8,140
FIRST TR ABERDEEN GLBL OPP F COM SHS 337319107 180 18,600 SH   DFND   0 0 18,600
FORUM ENERGY TECHNOLOGIES IN COM 34984V100 1,728 141,550 SH   DFND   0 0 141,550
GABELLI HLTHCARE & WELLNESS SHS 36246K103 114 11,800 SH   DFND   0 0 11,800
GDL FUND COM SH BEN IT 361570104 336 34,300 SH   DFND   0 0 34,300
GLOBAL HIGH INCOME FUND INC COM 37933G108 164 21,200 SH   DFND   0 0 21,200
GOOGLE INC CL A 38259P508 486 762 SH   DFND   0 0 762
HARRIS & HARRIS GROUP INC COM 413833104 84 39,141 SH   DFND   0 0 39,141
HOUGHTON MIFFLIN HARCOURT CO COM 44157R109 265 13,043 SH   DFND   0 0 13,043
IGI LABS INC COM 449575109 90 13,786 SH   DFND   0 0 13,786
INNERWORKINGS INC COM 45773Y105 68 10,849 SH   DFND   0 0 10,849
INOVIO PHARMACEUTICALS INC COM NEW 45773H201 425 73,500 SH   DFND   0 0 73,500
INTERNATIONAL BUSINESS MACHS COM 459200101 324 2,236 SH   DFND   0 0 2,236
ISHARES TR S&P 100 ETF 464287101 4,576 53,977 SH   DFND   0 0 53,977
ISHARES TR SELECT DIVID ETF 464287168 3,021 41,526 SH   DFND   0 0 41,526
ISHARES TR CORE S&P500 ETF 464287200 2,885 14,969 SH   DFND   0 0 14,969
ISHARES TR CORE US AGGBD ET 464287226 511 4,664 SH   DFND   0 0 4,664
ISHARES TR MSCI EMG MKT ETF 464287234 1,629 49,709 SH   DFND   0 0 49,709
ISHARES TR MSCI EAFE ETF 464287465 316 5,509 SH   DFND   0 0 5,509
ISHARES TR RUS MID-CAP ETF 464287499 4,181 26,876 SH   DFND   0 0 26,876
ISHARES TR RUS 1000 VAL ETF 464287598 3,306 35,446 SH   DFND   0 0 35,446
ISHARES TR RUS 1000 GRW ETF 464287614 2,961 31,837 SH   DFND   0 0 31,837
ISHARES TR RUS 1000 ETF 464287622 14,286 133,456 SH   DFND   0 0 133,456
ISHARES TR RUS 2000 GRW ETF 464287648 595 4,445 SH   DFND   0 0 4,445
ISHARES TR RUSSELL 2000 ETF 464287655 5,378 49,247 SH   DFND   0 0 49,247
ISHARES TR CORE US VAL ETF 464287663 233 1,914 SH   DFND   0 0 1,914
ISHARES TR RUSSELL 3000 ETF 464287689 1,424 12,505 SH   DFND   0 0 12,505
ISHARES TR U.S. ENERGY ETF 464287796 1,976 57,578 SH   DFND   0 0 57,578
ISHARES TR CORE S&P SCP ETF 464287804 6,021 56,496 SH   DFND   0 0 56,496
ISHARES TR EUROPE ETF 464287861 4,078 102,472 SH   DFND   0 0 102,472
ISHARES TR MSCI AC ASIA ETF 464288182 2,568 48,674 SH   DFND   0 0 48,674
ISHARES TR MSCI ACWI EX US 464288240 1,690 43,277 SH   DFND   0 0 43,277
ISHARES TR NAT AMT FREE BD 464288414 1,282 11,700 SH   DFND   0 0 11,700
ISHARES TR 1-3 YR CR BD ETF 464288646 1,304 12,400 SH   DFND   0 0 12,400
ISHARES TR 3-7 YR TR BD ETF 464288661 611 4,900 SH   DFND   0 0 4,900
ISHARES TR U.S. PFD STK ETF 464288687 214 5,550 SH   DFND   0 0 5,550
ISHARES TR CORE MSCI EURO 46434V738 1,632 39,196 SH   DFND   0 0 39,196
JOHNSON & JOHNSON COM 478160104 385 4,122 SH   DFND   0 0 4,122
JPMORGAN CHASE & CO ALERIAN ML ETN 46625H365 12,625 415,433 SH   DFND   0 0 415,433
KELLOGG CO COM 487836108 341 5,117 SH   DFND   0 0 5,117
KINDER MORGAN INC DEL COM 49456B101 200 7,209 SH   DFND   0 0 7,209
KINDER MORGAN INC DEL *W EXP 05/25/201 49456B119 129 140,000 SH   DFND   0 0 140,000
KOPIN CORP COM 500600101 556 177,000 SH   DFND   0 0 177,000
LEXICON PHARMACEUTICALS INC COM NEW 528872302 232 21,611 SH   DFND   0 0 21,611
LIBERTY ALL STAR EQUITY FD SH BEN INT 530158104 126 24,900 SH   DFND   0 0 24,900
MADISON SQUARE GARDEN CO CL A 55826P100 267 3,703 SH   DFND   0 0 3,703
MARKET VECTORS ETF TR EMKT HIYLD BD 57061R403 678 30,087 SH   DFND   0 0 30,087
MOLSON COORS BREWING CO CL B 60871R209 202 2,430 SH   DFND   0 0 2,430
MORGAN STANLEY EMER MKTS DEB COM 61744H105 294 35,300 SH   DFND   0 0 35,300
NEUBERGER BERMAN RE ES SEC F COM 64190A103 109 23,600 SH   DFND   0 0 23,600
NEW MTN FIN CORP COM 647551100 13,063 961,248 SH   DFND   0 0 961,248
NORWEGIAN CRUISE LINE HLDGS SHS G66721104 235 4,095 SH   DFND   0 0 4,095
NUVEEN GLOBAL HIGH INCOME FD SHS 67075G103 277 19,200 SH   DFND   0 0 19,200
NUVEEN LG/SHT COMMODITY TOTR COM UT BEN INT 670731108 162 10,100 SH   DFND   0 0 10,100
NUVEEN MD PREM INCOME MUN FD COM 67061Q107 153 12,400 SH   DFND   0 0 12,400
NUVEEN MICH QUALITY INCOME M COM 670979103 247 18,700 SH   DFND   0 0 18,700
PFIZER INC COM 717081103 360 11,471 SH   DFND   0 0 11,471
PIMCO ETF TR TTL RTN ACTV ETF 72201R775 225 2,130 SH   DFND   0 0 2,130
PIONEER FLOATING RATE TR COM 72369J102 1,625 143,590 SH   DFND   0 0 143,590
PLAINS GP HLDGS L P SHS A REP LTPN 72651A108 175 10,000 SH   DFND   0 0 10,000
RETROPHIN INC COM 761299106 1,216 60,000 SH   DFND   0 0 60,000
RMR REAL ESTATE INCOME FUND COM 76970B101 302 16,700 SH   DFND   0 0 16,700
SEACOR HOLDINGS INC COM 811904101 260 4,341 SH   DFND   0 0 4,341
SPDR S&P 500 ETF TR TR UNIT 78462F103 3,884 20,268 SH   DFND   0 0 20,268
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 1,492 5,996 SH   DFND   0 0 5,996
SPROTT FOCUS TR INC COM 85208J109 188 31,800 SH   DFND   0 0 31,800
STRATEGIC GLOBAL INCOME FD COM 862719101 325 41,000 SH   DFND   0 0 41,000
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 240 1,367 SH   DFND   0 0 1,367
VANGUARD INDEX FDS REIT ETF 922908553 4,070 53,879 SH   DFND   0 0 53,879
VANGUARD INTL EQUITY INDEX F ALLWRLD EX US 922042775 3,562 83,559 SH   DFND   0 0 83,559
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 2,538 76,689 SH   DFND   0 0 76,689
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 1,884 52,861 SH   DFND   0 0 52,861
VANGUARD WORLD FDS CONSUM STP ETF 92204A207 881 7,267 SH   DFND   0 0 7,267
WESTERN ASSET EMRG MKT INCM COM 95766E103 262 27,400 SH   DFND   0 0 27,400
WESTERN ASSET WORLDWIDE INCO COM 957668106 173 17,600 SH   DFND   0 0 17,600
WISDOMTREE TR LARGECAP DIVID 97717W307 530 7,878 SH   DFND   0 0 7,878
WISDOMTREE TR WSDM EMKTBD FD 97717X784 978 14,760 SH   DFND   0 0 14,760
ZOETIS INC CL A 98978V103 452 10,985 SH   DFND   0 0 10,985