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
SPDR S&P 500 ETF TRUST COM 78462F103 96,083 397,384 SH   DFND   0 0 96,083
VANGUARD EUROPEAN STOCK INDEX FUND ETF COM 922042874 41,989 761,495 SH   DFND   0 0 41,989
VANGUARD REIT INDEX FUND ETF COM 922908553 24,573 295,318 SH   DFND   0 0 24,573
JPMORGAN EXCHANGE TRADE NOTE 09 - 24.05.2024 / ALERIAN MLP COM 46625H365 20,309 683,818 SH   DFND   0 0 20,309
GUGGENHEIM ETF TRUST S&P 500 EQUAL WEIGHTED INDEX FUND COM 78355W106 18,643 201,156 SH   DFND   0 0 18,643
ISHARES SELECT DIVIDEND ETF COM 464287168 14,695 159,364 SH   DFND   0 0 14,695
ISHARES EUROPE ETF COM 464287861 11,936 269,321 SH   DFND   0 0 11,936
ISHARES MSCI JAPAN ETF COM 46434G822 11,623 216,647 SH   DFND   0 0 11,623
ISHARES INC MSCI EMMA ETF COM 464287234 7,241 174,953 SH   DFND   0 0 7,241
POWERSHARES ETF FUND TRUST II SENIOR LOAN PF ETF COM 73936Q769 5,113 220,968 SH   DFND   0 0 5,113
ISHARES INTERMEDIATE CREDIT BOND ETF COM 464288638 4,387 39,959 SH   DFND   0 0 4,387
ISHARES MSCI PACIFIC EX-JAPAN ETF COM 464286665 4,155 93,407 SH   DFND   0 0 4,155
ISHARES MSCI CANADA ETF COM 464286509 4,021 150,082 SH   DFND   0 0 4,021
VANGUARD GLOBAL EX US REAL ESTATE INDEX FUND ETF COM 922042676 3,976 70,688 SH   DFND   0 0 3,976
VANGUARD FTSE EMERGING MARKETS ETF COM 922042858 3,849 94,264 SH   DFND   0 0 3,849
ISHARES CORE S&P MID-CAP ETF COM 464287507 3,438 19,767 SH   DFND   0 0 3,438
SPDR DJ INDUSTRIAL AVERAGE ETF TRUST COM 78467X109 3,408 15,978 SH   DFND   0 0 3,408
SPDR INDEX SHARES FUNDS EMMA ASIA PAC ETF COM 78463X301 2,747 30,032 SH   DFND   0 0 2,747
BANK OF AMERICA CORP COM 060505104 1,385 57,078 SH   DFND   0 0 1,385
UBS ETRACS 11 - 24.05.2041 / 2X WELLS FARGO COM 90267B765 1,364 69,470 SH   DFND   0 0 1,364
ISHARES TIPS BOND ETF COM 464287176 1,188 10,476 SH   DFND   0 0 1,188
ISHARES 1 - 3 YR CREDIT BOND ETF COM 464288646 1,171 11,122 SH   DFND   0 0 1,171
ISHARES CURRENCY HEDGED MSCI GERMANY ETF COM 46434V704 795 28,400 SH   DFND   0 0 795
FINANCIAL SELECT SECTOR SPDR FUND ETF COM 81369Y605 787 31,908 SH   DFND   0 0 787
GENERAL MOTORS CO COM 37045V100 746 21,370 SH   DFND   0 0 746
GILEAD SCIENCES INC COM 375558103 745 10,531 SH   DFND   0 0 745
WEYERHAEUSER CO COM 962166104 732 21,838 SH   DFND   0 0 732
PFIZER INC COM 717081103 718 21,361 SH   DFND   0 0 718
GENERAL ELECTRIC CO COM 369604103 709 26,259 SH   DFND   0 0 709
ISHARES TRUST MSCI ALL PERU CAPPED ETF COM 464289842 622 18,378 SH   DFND   0 0 622
CVS HEALTH CORP COM 126650100 572 7,103 SH   DFND   0 0 572
ISHARES MSCI SINGAPORE ETF COM 46434G780 527 22,309 SH   DFND   0 0 527
ISHARES RUSSELL 2000 ETF COM 464287655 518 3,675 SH   DFND   0 0 518
FREEPORT-MCMORAN INC COM 35671D857 514 42,800 SH   DFND   0 0 514
ISHARES MSCI EAFE ETF COM 464287465 483 7,415 SH   DFND   0 0 483
POTLATCH CORP COM 737630103 418 9,153 SH   DFND   0 0 418
VANECK VECTORS VIETNAM ETF COM 92189F817 403 26,989 SH   DFND   0 0 403
DOUBLELINE TOTAL RETURN BOND FUND -I- COM 258620103 400 37,497 SH   DFND   0 0 400
CHESAPEAKE ENERGY CORP COM 165167107 398 80,000 SH   DFND   0 0 398
ISHARES CORE S&P SMALL CAP ETF COM 464287804 352 5,019 SH   DFND   0 0 352
COMPANIA DE MINAS BUENAVENTURA SA BUENA COM 204448104 347 30,171 SH   DFND   0 0 347
APPLE INC COM 037833100 336 2,335 SH   DFND   0 0 336
DELTA AIR LINES INC COM 247361702 326 6,063 SH   DFND   0 0 326
MORGAN STANLEY IF SELECT GLOBAL INFRASTRUCTURE FD C COM 61760X315 319 21,322 SH   DFND   0 0 319
VANGUARD HIGH DIVIDEND YIELD INDEX FUND ETF COM 921946406 313 4,000 SH   DFND   0 0 313
KINDER MORGAN INC COM 49456B101 308 16,079 SH   DFND   0 0 308
RAYONIER INC REIT COM 754907103 293 10,180 SH   DFND   0 0 293
ISHARES MSCI INDIA ETF COM 46429B598 278 8,662 SH   DFND   0 0 278
JP MORGAN TRUST I SELECT STRATEGIE INCOME OPP FUND COM 4812A4351 271 23,233 SH   DFND   0 0 271
JPMORGAN TRUST I SELECT SHS MULTI-SECTOR INCOME FUND COM 48121A290 265 26,492 SH   DFND   0 0 265
FORD MOTOR CO COM 345370860 261 23,290 SH   DFND   0 0 261
ISHARES IBOXX USD HIGH YIELD CORPORATE BOND ETF COM 464288513 248 2,801 SH   DFND   0 0 248
ISHARES CORE MSCI EMMA ETF COM 46434G103 203 4,055 SH   DFND   0 0 203
UBS AG JERSEY 10 - 02.04.2040 ALERIAN MLP INFRASTRUCTURE IDX COM 902641646 197 7,390 SH   DFND   0 0 197
ISHARES MSCI THAILAND CAPPED ETF COM 464286624 192 2,466 SH   DFND   0 0 192
BIOGEN IDEC INC COM 09062X103 163 600 SH   DFND   0 0 163
BRISTOL MYERS SQUIBB CO COM 110122108 162 2,909 SH   DFND   0 0 162
FARMLAND PARTNERS INC COM 31154R109 161 18,005 SH   DFND   0 0 161
SPDR INDEX SHARES FUNDS EURO STOXX 50 ETF COM 78463X202 142 3,681 SH   DFND   0 0 142
MICROSOFT CORP COM 594918104 140 2,033 SH   DFND   0 0 140
REAL ESTATE SELECT SECTOR SPDR FUND COM 81369Y860 139 4,309 SH   DFND   0 0 139
GLADSTONE LAND CORP COM 376549101 138 11,849 SH   DFND   0 0 138
SPDR INDEX SHARES FUNDS EMMA MIDDLE EAST & AFRICA ETF COM 78463X806 126 2,143 SH   DFND   0 0 126
WELLS FARGO & CO COM 949746101 104 1,883 SH   DFND   0 0 104
MERCK & CO INC COM 58933Y105 104 1,621 SH   DFND   0 0 104
CRESUD SA COMERCIAL INDUSTRIAL FIN Y AGROPECUARIA S-ADR COM 226406106 103 5,279 SH   DFND   0 0 103
US BANCORP COM 902973304 103 1,976 SH   DFND   0 0 103
ISHARES GLOBAL HEALTHCARE ETF COM 464287325 100 919 SH   DFND   0 0 100