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
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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
ACTAVIS PLC PFD CONV SER A G0083B116 1,584 1,500 SH   DFND 1 1,500 0 0
BLACKROCK DEBT STRAT COM 09255R103 4,492 1,204,204 SH   DFND 1 1,204,204 0 0
BLACKROCK FLOAT RATE COM 09255X100 6,397 466,270 SH   DFND 1 466,270 0 0
DANAHER CORP DEL NOTE 1/2 235851AF9 6,263 2,500,000 PRN   DFND 1 2,500,000 0 0
DOMINION RES INC VA UNIT 04/01/2013 25746U703 3,332 59,000 SH   DFND 1 59,000 0 0
DOMINION RES INC VA UNIT 99/99/9999 25746U869 4,786 95,000 SH   DFND 1 95,000 0 0
FIDELITY NATIONAL FI NOTE 4.250% 8/1 31620RAE5 2,073 1,000,000 PRN   DFND 1 1,000,000 0 0
FORD MTR CO DEL COM PAR $0.01 345370860 1,819 119,900 SH   DFND 1 119,900 0 0
GILEAD SCIENCES INC NOTE 1.625% 5/0 375558AP8 13,582 2,750,000 PRN   DFND 1 2,750,000 0 0
HEALTH CARE REIT INC PFD PER CON I 42217K601 1,893 30,000 SH   DFND 1 30,000 0 0
HSBC HLDGS PLC SDCV 5.625%12/2 404280AR0 11,220 11,000,000 PRN   DFND 1 11,000,000 0 0
INTEL CORP SDCV 12/1 458140AD2 5,830 4,500,000 PRN   DFND 1 4,500,000 0 0
INTEL CORP SDCV 3.250% 8/0 458140AF7 8,494 5,000,000 PRN   DFND 1 5,000,000 0 0
ISHARES IBOXX HI YD ETF 464288513 11,364 125,000 SH   DFND 1 125,000 0 0
ISHARES MSCI AC ASIA ETF 464288182 58,505 886,031 SH   DFND 1 886,031 0 0
LABORATORY CORP AMER NOTE 9/1 50540RAG7 1,636 1,036,000 PRN   DFND 1 1,036,000 0 0
MYLAN INC NOTE 3.750% 9/1 628530AJ6 5,441 1,000,000 PRN   DFND 1 1,000,000 0 0
NEWMONT MINING CORP NOTE 1.625% 7/1 651639AJ5 3,684 3,500,000 PRN   DFND 1 3,500,000 0 0
NOVELLUS SYS INC NOTE 2.625% 5/1 670008AD3 9,603 4,000,000 PRN   DFND 1 4,000,000 0 0
POWERSHARES ETF TRUS SENIOR LN PORT 73936Q769 2,805 116,200 SH   DFND 1 116,200 0 0
PRICELINE GRP INC DEBT 1.000% 3/1 741503AQ9 4,039 3,000,000 PRN   DFND 1 3,000,000 0 0
PRICELINE GRP INC NOTE 0.350% 6/1 741503AS5 4,235 3,750,000 PRN   DFND 1 3,750,000 0 0
PROSPECT CAPITAL COR NOTE 6.250%12/1 74348TAC6 6,375 6,250,000 PRN   DFND 1 6,250,000 0 0
SPDR SERIES TRUST BRC HGH YLD BD 78464A417 20,163 511,500 SH   DFND 1 511,500 0 0
STANLEY BLACK & DECK UNIT 11/17/20166 854502804 1,184 10,000 SH   DFND 1 10,000 0 0
TEVA PHARMACEUTICAL DBCV 0.250% 2/0 88163VAE9 8,535 6,000,000 PRN   DFND 1 6,000,000 0 0
UNISYS CORP COM NEW 909214306 5,332 259,600 SH   DFND 1 259,600 0 0
UNITED TECHNOLOGIES UNIT 06/01/2015 913017117 4,874 80,000 SH   DFND 1 80,000 0 0
VANGUARD BD INDEX FD LONG TERM BOND 921937793 80,360 882,790 SH   DFND 1 882,790 0 0
VANGUARD BD INDEX FD INTERMED TERM 921937819 106,298 1,247,481 SH   DFND 1 1,247,481 0 0
VANGUARD BD INDEX FD SHORT TRM BOND 921937827 657,474 8,179,567 SH   DFND 1 8,179,567 0 0
VANGUARD BD INDEX FD TOTAL BND MRKT 921937835 4,658,208 56,572,849 SH   DFND 1 56,572,849 0 0
VANGUARD INDEX FDS GROWTH ETF 922908736 122,796 1,125,126 SH   DFND 1 1,125,126 0 0
VANGUARD INDEX FDS SML CP GRW ETF 922908595 123,302 917,357 SH   DFND 1 917,357 0 0
VANGUARD INDEX FDS EXTEND MKT ETF 922908652 340,220 3,672,102 SH   DFND 1 3,672,102 0 0
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 1,419,509 7,336,345 SH   DFND 1 7,336,345 0 0
VANGUARD INDEX FDS TOTAL STK MKT 922908769 3,220,505 29,462,126 SH   DFND 1 29,462,126 0 0
VANGUARD INTL EQUITY FTSE SMCAP ETF 922042718 79,054 752,971 SH   DFND 1 752,971 0 0
VANGUARD INTL EQUITY ALLWRLD EX US 922042775 216,188 4,280,101 SH   DFND 1 4,280,101 0 0
VANGUARD INTL EQUITY FTSE EMR MKT ETF 922042858 342,956 8,100,059 SH   DFND 1 8,100,059 0 0
VANGUARD INTL EQUITY FTSE PACIFIC ETF 922042866 536,228 8,507,506 SH   DFND 1 8,507,506 0 0
VANGUARD INTL EQUITY FTSE EUROPE ETF 922042874 852,112 15,033,730 SH   DFND 1 15,033,730 0 0
VANGUARD SCOTTSDALE SHTRM GVT BD ETF 92206C102 101,570 1,661,276 SH   DFND 1 1,661,276 0 0
VANGUARD SCOTTSDALE MORTG-BACK SEC 92206C771 175,753 3,299,287 SH   DFND 1 3,299,287 0 0
VERIZON COMMUNICATIO COM 92343V104 1,407 28,450 SH   DFND 1 28,450 0 0
WELLPOINT INC NOTE 2.750%10/1 94973VBG1 12,894 5,750,000 PRN   DFND 1 5,750,000 0 0
WELLS FARGO & CO NEW *W EXP 10/28/201 949746119 3,544 160,460 SH   DFND 1 160,460 0 0
WELLS FARGO & CO NEW PERP PFD CNV A 949746804 14,484 12,000 SH   DFND 1 12,000 0 0
WEYERHAEUSER CO PREF CONV SER A 962166872 404 7,450 SH   DFND 1 7,450 0 0
WISDOMTREE TR EUROPE HEDGED EQ 97717X701 58,540 899,091 SH   DFND 1 899,091 0 0
WISDOMTREE TR JAPN HEDGE EQT 97717W851 59,282 991,662 SH   DFND 1 991,662 0 0
XILINX INC NOTE 2.625% 6/1 983919AF8 5,777 3,500,000 PRN   DFND 1 3,500,000 0 0