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
ABERDEEN ASIA PACIFIC INCOM COM 003009107 101 22,000 SH   DFND   0 0 22,000
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 212 2,032 SH   DFND   0 0 2,032
ADAMS DIVERSIFIED EQUITY FD COM 006212104 154 12,030 SH   DFND   0 0 12,030
ADVANCE AUTO PARTS INC COM 00751Y106 374 2,482 SH   DFND   0 0 2,482
ADVENT CLAY CONV SEC INC FD COM 007639107 297 53,600 SH   DFND   0 0 53,600
ADVENT CLAYMORE CV SECS & IN COM 00764C109 199 14,700 SH   DFND   0 0 14,700
ALPINE GLOBAL PREMIER PPTYS COM SBI 02083A103 196 33,900 SH   DFND   0 0 33,900
APPLE INC COM 037833100 1,600 15,201 SH   DFND   0 0 15,201
APPLE INC COM 037833100 70 9,500 SH Call DFND   0 0 9,500
ATHENAHEALTH INC COM 04685W103 510 3,168 SH   DFND   0 0 3,168
BAXALTA INC COM 07177M103 320 8,205 SH   DFND   0 0 8,205
BERKSHIRE HATHAWAY INC DEL CL A 084670108 1,780 9 SH   DFND   0 0 9
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 412 3,118 SH   DFND   0 0 3,118
BOULDER GROWTH & INCOME FD I COM 101507101 200 25,800 SH   DFND   0 0 25,800
CALAMOS GBL DYN INCOME FUND COM 12811L107 196 27,400 SH   DFND   0 0 27,400
CALPINE CORP COM NEW 131347304 658 45,500 SH   DFND   0 0 45,500
CISCO SYS INC COM 17275R102 445 16,378 SH   DFND   0 0 16,378
CLAYMORE EXCHANGE TRD FD TR GUGG TIMBER ETF 18383Q879 340 14,427 SH   DFND   0 0 14,427
CLOUGH GLOBAL OPPORTUNITIES SH BEN INT 18914E106 147 14,100 SH   DFND   0 0 14,100
COPART INC COM 217204106 267 7,029 SH   DFND   0 0 7,029
CUSHING MLP TOTAL RETURN FD COM NEW 231631201 114 10,660 SH   DFND   0 0 10,660
CUSHING RENAISSANCE FD COM 231647108 178 12,500 SH   DFND   0 0 12,500
DIVIDEND & INCOME FUND COM NEW 25538A204 189 17,200 SH   DFND   0 0 17,200
DUFF & PHELPS GLB UTL INC FD COM 26433C105 342 23,200 SH   DFND   0 0 23,200
DUKE REALTY CORP COM NEW 264411505 636 30,271 SH   DFND   0 0 30,271
ENTERPRISE PRODS PARTNERS L COM 293792107 208 8,140 SH   DFND   0 0 8,140
FIDELITY NATL INFORMATION SV COM 31620M106 219 3,622 SH   DFND   0 0 3,622
FIRST TR ABERDEEN GLBL OPP F COM SHS 337319107 188 18,600 SH   DFND   0 0 18,600
FORUM ENERGY TECHNOLOGIES IN COM 34984V100 1,764 141,550 SH   DFND   0 0 141,550
GDL FUND COM SH BEN IT 361570104 343 34,300 SH   DFND   0 0 34,300
HARRIS & HARRIS GROUP INC COM 413833104 86 39,141 SH   DFND   0 0 39,141
HOUGHTON MIFFLIN HARCOURT CO COM 44157R109 293 13,475 SH   DFND   0 0 13,475
INNERWORKINGS INC COM 45773Y105 81 10,849 SH   DFND   0 0 10,849
INOVIO PHARMACEUTICALS INC COM NEW 45773H201 494 73,500 SH   DFND   0 0 73,500
ISHARES TR CORE MSCI EURO 46434V738 3,365 79,660 SH   DFND   0 0 79,660
ISHARES TR CORE S&P SCP ETF 464287804 6,221 56,496 SH   DFND   0 0 56,496
ISHARES TR CORE S&P500 ETF 464287200 2,987 14,582 SH   DFND   0 0 14,582
ISHARES TR CORE US AGGBD ET 464287226 504 4,664 SH   DFND   0 0 4,664
ISHARES TR CORE US VAL ETF 464287663 244 1,914 SH   DFND   0 0 1,914
ISHARES TR EUROPE ETF 464287861 2,334 58,194 SH   DFND   0 0 58,194
ISHARES TR MSCI AC ASIA ETF 464288182 3,230 60,467 SH   DFND   0 0 60,467
ISHARES TR MSCI ACWI EX US 464288240 1,413 35,661 SH   DFND   0 0 35,661
ISHARES TR MSCI EAFE ETF 464287465 298 5,079 SH   DFND   0 0 5,079
ISHARES TR MSCI EMG MKT ETF 464287234 1,489 46,242 SH   DFND   0 0 46,242
ISHARES TR RUS 1000 ETF 464287622 14,658 129,360 SH   DFND   0 0 129,360
ISHARES TR RUS 1000 GRW ETF 464287614 2,974 29,898 SH   DFND   0 0 29,898
ISHARES TR RUS 1000 VAL ETF 464287598 4,390 44,857 SH   DFND   0 0 44,857
ISHARES TR RUS 2000 GRW ETF 464287648 1,105 7,935 SH   DFND   0 0 7,935
ISHARES TR RUS MID-CAP ETF 464287499 4,073 25,428 SH   DFND   0 0 25,428
ISHARES TR RUSSELL 2000 ETF 464287655 5,725 50,835 SH   DFND   0 0 50,835
ISHARES TR RUSSELL 3000 ETF 464287689 1,506 12,515 SH   DFND   0 0 12,515
ISHARES TR S&P 100 ETF 464287101 4,524 49,627 SH   DFND   0 0 49,627
ISHARES TR SELECT DIVID ETF 464287168 3,124 41,571 SH   DFND   0 0 41,571
ISHARES TR U.S. ENERGY ETF 464287796 2,009 59,341 SH   DFND   0 0 59,341
ISHARES TR U.S. PFD STK ETF 464288687 216 5,550 SH   DFND   0 0 5,550
JOHNSON & JOHNSON COM 478160104 412 4,015 SH   DFND   0 0 4,015
JPMORGAN CHASE & CO ALERIAN ML ETN 46625H365 3,975 137,218 SH   DFND   0 0 137,218
JPMORGAN CHASE & CO COM 46625H100 282 4,265 SH   DFND   0 0 4,265
KELLOGG CO COM 487836108 504 6,980 SH   DFND   0 0 6,980
KINDER MORGAN INC DEL *W EXP 05/25/201 49456B119 8 140,000 SH   DFND   0 0 140,000
KINDER MORGAN INC DEL COM 49456B101 271 18,170 SH   DFND   0 0 18,170
KOPIN CORP COM 500600101 481 177,000 SH   DFND   0 0 177,000
LAZARD WORLD DIVID & INCOME COM 521076109 130 14,280 SH   DFND   0 0 14,280
LEGG MASON BW GLB INC OPP FD COM 52469B100 191 16,500 SH   DFND   0 0 16,500
LEXICON PHARMACEUTICALS INC COM NEW 528872302 288 21,611 SH   DFND   0 0 21,611
LIBERTY ALL STAR EQUITY FD SH BEN INT 530158104 133 24,900 SH   DFND   0 0 24,900
MADISON SQUARE GARDEN CO NEW CL A 55825T103 257 1,587 SH   DFND   0 0 1,587
MARKET VECTORS ETF TR EMKT HIYLD BD 57061R403 666 30,087 SH   DFND   0 0 30,087
MORGAN STANLEY EMER MKTS DEB COM 61744H105 303 35,300 SH   DFND   0 0 35,300
NEW MTN FIN CORP COM 647551100 12,834 985,695 SH   DFND   0 0 985,695
NORWEGIAN CRUISE LINE HLDGS SHS G66721104 277 4,722 SH   DFND   0 0 4,722
NUVEEN GLOBAL HIGH INCOME FD SHS 67075G103 264 19,200 SH   DFND   0 0 19,200
NUVEEN MD PREM INCOME MUN FD COM 67061Q107 157 12,400 SH   DFND   0 0 12,400
NUVEEN MICH QUALITY INCOME M COM 670979103 256 18,700 SH   DFND   0 0 18,700
PFIZER INC COM 717081103 456 14,111 SH   DFND   0 0 14,111
PIMCO ETF TR TTL RTN ACTV ETF 72201R775 222 2,130 SH   DFND   0 0 2,130
PIONEER FLOATING RATE TR COM 72369J102 1,558 143,590 SH   DFND   0 0 143,590
PLAINS GP HLDGS L P SHS A REP LTPN 72651A108 95 10,000 SH   DFND   0 0 10,000
PROCTER & GAMBLE CO COM 742718109 445 5,606 SH   DFND   0 0 5,606
RETROPHIN INC COM 761299106 1,157 60,000 SH   DFND   0 0 60,000
RMR REAL ESTATE INCOME FUND COM 76970B101 322 16,700 SH   DFND   0 0 16,700
SEACOR HOLDINGS INC COM 811904101 228 4,341 SH   DFND   0 0 4,341
SPDR S&P 500 ETF TR TR UNIT 78462F103 2,035 9,981 SH   DFND   0 0 9,981
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 2,004 7,888 SH   DFND   0 0 7,888
SPROTT FOCUS TR INC COM 85208J109 189 32,600 SH   DFND   0 0 32,600
STONE HBR EMERG MKTS TL INC COM 86164W100 142 12,532 SH   DFND   0 0 12,532
UBS AG LONDON BRH ETRAC ALER MLP 90267B682 8,531 468,232 SH   DFND   0 0 468,232
VANGUARD INDEX FDS REIT ETF 922908553 4,776 59,896 SH   DFND   0 0 59,896
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 253 1,351 SH   DFND   0 0 1,351
VANGUARD INTL EQUITY INDEX F ALLWRLD EX US 922042775 3,675 84,664 SH   DFND   0 0 84,664
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 2,766 84,575 SH   DFND   0 0 84,575
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 3,537 96,312 SH   DFND   0 0 96,312
VANGUARD WORLD FDS CONSUM STP ETF 92204A207 938 7,267 SH   DFND   0 0 7,267
VOYA INFRASTRUCTURE INDLS & COM 92912X101 129 10,500 SH   DFND   0 0 10,500
WESTERN ASSET EMRG MKT INCM COM 95766E103 267 27,400 SH   DFND   0 0 27,400
WESTERN ASSET WORLDWIDE INCO COM 957668106 177 17,600 SH   DFND   0 0 17,600
WISDOMTREE TR LARGECAP DIVID 97717W307 561 7,886 SH   DFND   0 0 7,886
WISDOMTREE TR WSDM EMKTBD FD 97717X784 968 14,760 SH   DFND   0 0 14,760
ZOETIS INC CL A 98978V103 420 8,772 SH   DFND   0 0 8,772