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
ENERGY SELECT ETF SECTOR SPD COM 81369Y506 4,784 63,645 SH   DFND   0 63,645 0
FINANCIAL SELECTETF SECTOR SPD COM 81369Y605 4,763 195,348 SH   DFND   0 195,348 0
FIRST TRST HLTH CARE ETF ALPHA COM 33734X143 185,048 2,687,703 SH   DFND   0 2,687,703 0
FIRST TRUST ETF FINANCIAL COM 33734X135 182,946 7,709,499 SH   DFND   0 7,709,499 0
FIRST TRUST CONSUMERETF DISCRE COM 33734X101 183,599 5,028,734 SH   DFND   0 5,028,734 0
FIRST TRUST ENERGY ETF ALPHA COM 33734X127 180,624 9,049,291 SH   DFND   0 9,049,291 0
ISHARES ETF U.S. ENERG COM 464287796 47,018 1,109,432 SH   DFND   0 1,109,432 0
ISHARES ETF U.S. FINAN COM 464287788 46,896 522,574 SH   DFND   0 522,574 0
ISHARES ETF U.S. HEALT COM 464287762 47,324 298,159 SH   DFND   0 298,159 0
SELECT SECTOR SPDR FD CONSUMER COM 81369Y407 52,106 681,307 SH   DFND   0 681,307 0
SELECT SECTOR SPDR FD HEALTH C COM 81369Y209 4,769 64,102 SH   DFND   0 64,102 0
FIRST TR EMERGING ETF MARKE COM 33737J182 125,169 5,451,603 SH   DFND   0 5,451,603 0
FIRST TR JAPAN ETF ALPHADEX F COM 33737J158 62,743 1,250,365 SH   DFND   0 1,250,365 0
FIRST TR UNITED ETF KINGDOM AL COM 33737J224 61,985 1,425,261 SH   DFND   0 1,425,261 0
ISHARES MSCI ETF EMERGING M COM 464287234 19,594 494,547 SH   DFND   0 494,547 0
ISHARES MSCI JAPAN ETF COM 464286848 9,831 767,469 SH   DFND   0 767,469 0
ISHARES MSCI UNITED ETF KINGD COM 46434V548 9,416 515,950 SH   DFND   0 515,950 0
ISHARES IBOXX $ ETF HIGH YIELD COM 464288513 11,806 132,945 SH   DFND   0 132,945 0
PIMCO 0-5 YEAR HIGH ETF YIELD COM 72201R783 29,277 293,147 SH   DFND   0 293,147 0
ISHARES CORE S&P 500 ETF S&P 5 COM 464287200 49,059 236,747 SH   DFND   0 236,747 0
SPDR S&P 500 TRUST ETF COM 78462F103 25,460 123,683 SH   DFND   0 123,683 0
FIRST TR ENHANCED ETF SHORT COM 33739Q408 32,049 534,068 SH   DFND   0 534,068 0
ISHARES ETF SHORT TREA COM 464288679 49,544 449,213 SH   DFND   0 449,213 0
PIMCO ETF TRUST ETF ENHANCED S COM 72201R833 120,507 1,191,367 SH   DFND   0 1,191,367 0
SPDR SERIES TRUST BRCLYS 1-3MT COM 78464A680 250 5,462 SH   DFND   0 5,462 0