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
POWERSHARES ETF TRUST CON STAPLE SEC 73935X393 285 5,306 SH   DFND   5,306 0 0
FIRST TR MORNINGSTAR DIV LEA SHS 336917109 721 32,577 SH   DFND   32,577 0 0
AMGEN INC COM 031162100 478 3,456 SH   DFND   3,456 0 0
RYDEX ETF TRUST GUG S&P500 EQ WT 78355W106 7,863 106,902 SH   DFND   106,902 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADR 874039100 546 26,350 SH   DFND   26,350 0 0
FIRST TR EXCHANGE TRADED FD INDLS PROD DUR 33734X150 209 8,107 SH   DFND   8,107 0 0
POWERSHARES ETF TRUST DYN PHRMA PORT 73935X799 1,987 29,958 SH   DFND   29,958 0 0
REGENERON PHARMACEUTICALS COM 75886F107 701 1,509 SH   DFND   1,509 0 0
DIREXION SHS ETF TR DL RUSS BEAR 3X 25490K786 1,658 40,677 SH   DFND   40,677 0 0
ISHARES TR N AMER TECH ETF 464287549 2,274 22,681 SH   DFND   22,681 0 0
POWERSHARES ETF TRUST DYNM LRG CP VL 73935X708 493 17,618 SH   DFND   17,618 0 0
ENDO INTL PLC SHS G30401106 287 4,145 SH   DFND   4,145 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 30,296 158,100 SH   DFND   158,100 0 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 6,734 168,706 SH   DFND   168,706 0 0
GERDAU S A SPON ADR REP PFD 373737105 20 15,169 SH   DFND   15,169 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 123 28,393 SH   DFND   28,393 0 0
ISHARES TR U.S. TELECOM ETF 464287713 300 11,112 SH   DFND   11,112 0 0
ILLUMINA INC COM 452327109 332 1,890 SH   DFND   1,890 0 0
ELDORADO GOLD CORP NEW COM 284902103 55 17,124 SH   DFND   17,124 0 0
POWERSHARES ETF TRUST DYNA BUYBK ACH 73935X286 1,169 26,710 SH   DFND   26,710 0 0
ISHARES TR U.S. INSRNCE ETF 464288786 1,594 32,800 SH   DFND   32,800 0 0
GILEAD SCIENCES INC COM 375558103 364 3,716 SH   DFND   3,716 0 0
FIRST TR EXCHANGE TRADED FD FINLS ALPHADEX 33734X135 644 28,697 SH   DFND   28,697 0 0
MARKET VECTORS ETF TR RUSSIA ETF 57060U506 4,958 315,800 SH   DFND   315,800 0 0
MARKET VECTORS ETF TR BIOTECH ETF 57060U183 1,983 17,354 SH   DFND   17,354 0 0
ISHARES U S ETF TR ENH US SCP ETF 46431W200 608 20,844 SH   DFND   20,844 0 0
ISHARES TR U.S. CNSM GD ETF 464287812 1,844 17,976 SH   DFND   17,976 0 0
ISHARES TR US HLTHCARE ETF 464287762 4,099 29,302 SH   DFND   29,302 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 8,422 137,630 SH   DFND   137,630 0 0
SPDR SERIES TRUST S&P BIOTECH 78464A870 2,582 41,480 SH   DFND   41,480 0 0
ISHARES TR U.S. CNSM SV ETF 464287580 616 4,480 SH   DFND   4,480 0 0
ARM HLDGS PLC SPONSORED ADR 042068106 223 5,159 SH   DFND   5,159 0 0
DUKE ENERGY CORP NEW COM NEW 26441C204 260 3,628 SH   DFND   3,628 0 0
POWERSHARES ETF TRUST TECH SECT PORT 73935X344 605 15,700 SH   DFND   15,700 0 0
FIRST TR EXCNGE TRD ALPHADEX SML CAP VAL AL 33737M409 994 36,278 SH   DFND   36,278 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 451 13,654 SH   DFND   13,654 0 0
BIOGEN INC COM 09062X103 793 2,719 SH   DFND   2,719 0 0
SEADRILL LIMITED SHS G7945E105 59 10,157 SH   DFND   10,157 0 0
FIRST TR VALUE LINE DIVID IN SHS 33734H106 357 15,706 SH   DFND   15,706 0 0
POWERSHARES ETF TRUST DIV ACHV PRTF 73935X732 347 17,887 SH   DFND   17,887 0 0
FIDELITY CONSMR STAPLES 316092303 253 8,924 SH   DFND   8,924 0 0
FIRST TR NASDAQ100 TECH INDE SHS 337345102 261 6,634 SH   DFND   6,634 0 0
MARKET VECTORS ETF TR JR GOLD MINERS E 57061R544 272 13,927 SH   DFND   13,927 0 0
PROSHARES TR SHT MSCI NEW 74347X575 243 9,854 SH   DFND   9,854 0 0
INCYTE CORP COM 45337C102 251 2,282 SH   DFND   2,282 0 0
WISDOMTREE TR DIV EX-FINL FD 97717W406 781 11,624 SH   DFND   11,624 0 0
ISHARES TR US HLTHCR PR ETF 464288828 1,467 11,846 SH   DFND   11,846 0 0
QUALCOMM INC COM 747525103 238 4,447 SH   DFND   4,447 0 0
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 5,964 23,966 SH   DFND   23,966 0 0
COM ADDED 95040Q104 263 3,890 SH   DFND   3,890 0 0
FIRST TR LRG CP VL ALPHADEX COM SHS 33735J101 742 19,658 SH   DFND   19,658 0 0
FIRST TR EXCHANGE TRADED FD UTILITIES ALPH 33734X184 468 20,689 SH   DFND   20,689 0 0
RYDEX ETF TRUST GUG S&P500EQWTTE 78355W817 1,186 13,937 SH   DFND   13,937 0 0
PUBLIC STORAGE COM 74460D109 207 979 SH   DFND   979 0 0
YAMANA GOLD INC COM 98462Y100 54 31,885 SH   DFND   31,885 0 0
BLACKROCK INC COM 09247X101 226 762 SH   DFND   762 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 2,360 47,318 SH   DFND   47,318 0 0
ISHARES TR MRGSTR SM CP ETF 464288505 343 2,712 SH   DFND   2,712 0 0
POWERSHARES ETF TR II KBW INS PORT 73937B720 1,777 26,628 SH   DFND   26,628 0 0
ISHARES SILVER TRUST ISHARES 46428Q109 150 10,884 SH   DFND   10,884 0 0
PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101 132 36,047 SH   DFND   36,047 0 0
FIRST TR EXCHANGE TRADED FD TECH ALPHADEX 33734X176 989 31,274 SH   DFND   31,274 0 0
SIMON PPTY GROUP INC NEW COM 828806109 279 1,524 SH   DFND   1,524 0 0
DOMINION RES INC VA NEW COM 25746U109 206 2,933 SH   DFND   2,933 0 0
FIDELITY MSCI INFO TECH I 316092808 346 11,449 SH   DFND   11,449 0 0
NOKIA CORP SPONSORED ADR 654902204 128 18,896 SH   DFND   18,896 0 0
MYLAN N V SHS EURO N59465109 288 7,160 SH   DFND   7,160 0 0
JPMORGAN CHASE & CO COM 46625H100 235 3,858 SH   DFND   3,858 0 0
RYDEX ETF TRUST GUG S&P500 PU VA 78355W304 969 20,290 SH   DFND   20,290 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 2,243 47,538 SH   DFND   47,538 0 0
HALCON RES CORP COM NEW 40537Q209 8 16,617 SH   DFND   16,617 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 106 11,648 SH   DFND   11,648 0 0
SOUTHERN CO COM 842587107 247 5,536 SH   DFND   5,536 0 0
BIOMARIN PHARMACEUTICAL INC COM 09061G101 204 1,944 SH   DFND   1,944 0 0
POWERSHARES ETF TRUST DYN SEMCT PORT 73935X781 334 14,204 SH   DFND   14,204 0 0
FIRST TR EXCHANGE TRADED FD MATERIALS ALPH 33734X168 232 8,636 SH   DFND   8,636 0 0
POWERSHARES ETF TRUST HI YLD EQ DVDN 73935X302 248 19,555 SH   DFND   19,555 0 0
FIRST TR EXCHANGE TRADED FD NASD TECH DIV 33738R118 950 39,227 SH   DFND   39,227 0 0
VERTEX PHARMACEUTICALS INC COM 92532F100 269 2,584 SH   DFND   2,584 0 0
ISHARES TR U.S. REAL ES ETF 464287739 637 8,991 SH   DFND   8,991 0 0
FIRST TR EXCHANGE TRADED FD DORSEY WRT 5 ETF 33738R605 319 14,551 SH   DFND   14,551 0 0
CELGENE CORP COM 151020104 413 3,822 SH   DFND   3,822 0 0
NEXTERA ENERGY INC COM 65339F101 404 4,150 SH   DFND   4,150 0 0
ALEXION PHARMACEUTICALS INC COM 015351109 203 1,300 SH   DFND   1,300 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 487 14,874 SH   DFND   14,874 0 0
ISHARES TR MRGSTR MD CP VAL 464288406 423 3,701 SH   DFND   3,701 0 0