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
AMERICAN RLTY CAP PPTYS INC COM 02917T104 17,390 1,387,891 SH   DFND 1 1,387,891 0 0
ARENA PHARMACEUTICALS INC COM 040047102 97 16,500 SH   DFND 1 16,500 0 0
AVALONBAY CMNTYS INC COM 053484101 29,215 205,463 SH   DFND 1 205,463 0 0
BARCLAYS BK PLC S&P 500 VEQTOR 06740C337 6,541 43,806 SH   DFND 1 43,806 0 0
ENERPLUS CORP COM 292766102 25,802 1,024,713 SH   DFND 1 1,024,713 0 0
ENSCO PLC SHS CLASS A G3157S106 14,016 252,216 SH   DFND 1 252,216 0 0
FIRST TR US IPO INDEX FD SHS 336920103 2,956 61,440 SH   DFND 1 61,440 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 12,118 332,010 SH   DFND 1 332,010 0 0
GOLDCORP INC NEW COM 380956409 16,676 597,476 SH   DFND 1 597,476 0 0
HOSPITALITY PPTYS TR COM SH BEN INT 44106M102 15,183 499,457 SH   DFND 1 499,457 0 0
ISHARES CORE S&P MCP ETF 464287507 1,187,439 8,299,124 SH   DFND 1 8,299,124 0 0
ISHARES CORE S&P500 ETF 464287200 1,216,653 6,175,900 SH   DFND 1 6,175,900 0 0
ISHARES MSCI STH AFR ETF 464286780 256 3,733 SH   DFND 1 3,733 0 0
ISHARES MSCI BRIC INDX 464286657 1,202 31,193 SH   DFND 1 31,193 0 0
ISHARES MSCI EAFE ETF 464287465 1,157 16,928 SH   DFND 1 16,928 0 0
ISHARES MSCI EMG MKT ETF 464287234 1,190 27,538 SH   DFND 1 27,538 0 0
ISHARES MSCI FRANCE ETF 464286707 2,600 89,202 SH   DFND 1 89,202 0 0
ISHARES MSCI MEX CAP ETF 464286822 259 3,826 SH   DFND 1 3,826 0 0
ISHARES MSCI SZ CAP ETF 464286749 2,618 76,293 SH   DFND 1 76,293 0 0
ISHARES MSCI UK ETF 464286699 2,555 122,373 SH   DFND 1 122,373 0 0
ISHARES RUSSELL 2000 ETF 464287655 1,194,028 10,049,900 SH   DFND 1 10,049,900 0 0
ISHARES MSCI TAIWAN ETF 464286731 261 16,495 SH   DFND 1 16,495 0 0
ISHARES NAT AMT FREE BD 464288414 430 3,960 SH   DFND 1 3,960 0 0
ISHARES 7-10 Y TR BD ETF 464287440 1,194,580 11,532,922 SH   DFND 1 11,532,922 0 0
ISHARES TR CHINA ETF 46429B671 257 5,548 SH   DFND 1 5,548 0 0
KIMCO RLTY CORP COM 49446R109 12,664 551,066 SH   DFND 1 551,066 0 0
LAS VEGAS SANDS CORP COM 517834107 381 5,000 SH   DFND 1 5,000 0 0
LEXINGTON REALTY TRUST COM 529043101 16,936 1,538,198 SH   DFND 1 1,538,198 0 0
NORTHERN TR CORP COM 665859104 965 15,022 SH   DFND 1 15,022 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 12,638 342,857 SH   DFND 1 342,857 0 0
PENGROWTH ENERGY CORP COM 70706P104 24,284 3,382,177 SH   DFND 1 3,382,177 0 0
PENN WEST PETE LTD NEW COM 707887105 45,662 4,678,490 SH   DFND 1 4,678,490 0 0
PIMCO ETF TR TOTL RETN ETF 72201R775 2,347 21,534 SH   DFND 1 21,534 0 0
POWERSHARES ETF TR II S&P LOW VOL 73937B779 2,887 81,124 SH   DFND 1 81,124 0 0
POWERSHARES ETF TR II S&P LOVL PT 73937B647 2,560 81,837 SH   DFND 1 81,837 0 0
POWERSHARES ETF TR II S&P600 LOVL DJ 73937B639 3,063 95,761 SH   DFND 1 95,761 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 2,188 23,300 SH   DFND 1 23,300 0 0
PROSHARES TR PSHS ULT S&P 500 74347R107 429,751 3,711,786 SH   DFND 1 3,711,786 0 0
PROSHARES TR PSHS ULTRUSS2000 74347R842 405,198 4,545,636 SH   DFND 1 4,545,636 0 0
PROSHARES TR MSCI EMRG ETF 74347X302 515 6,359 SH   DFND 1 6,359 0 0
PROSHARES TR PSHS ULT MCAP400 74347R404 403,592 5,608,555 SH   DFND 1 5,608,555 0 0
PROSHARES TR ULTR MSCI ETF 74347X500 2,650 21,986 SH   DFND 1 21,986 0 0
PROSHARES TR ULTR 7-10 TREA 74347R180 404,024 7,511,132 SH   DFND 1 7,511,132 0 0
REALTY INCOME CORP COM 756109104 9,843 221,593 SH   DFND 1 221,593 0 0
RITE AID CORP COM 767754104 72 10,000 SH   DFND 1 10,000 0 0
RYDEX ETF TRUST GUG S&P500 EQ WT 78355W106 2,646 34,494 SH   DFND 1 34,494 0 0
SILVER WHEATON CORP COM 828336107 20,092 764,832 SH   DFND 1 764,832 0 0
SIMON PPTY GROUP INC NEW COM 828806109 17,071 102,663 SH   DFND 1 102,663 0 0
SOUTHERN COPPER CORP COM 84265V105 11,716 385,765 SH   DFND 1 385,765 0 0
STARWOOD PPTY TR INC COM 85571B105 16,735 704,049 SH   DFND 1 704,049 0 0
TORTOISE ENERGY INFRSTRCTR C COM 89147L100 1,690 34,178 SH   DFND 1 34,178 0 0
VALE S A ADR 91912E105 14,807 1,119,213 SH   DFND 1 1,119,213 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 2,477 28,614 SH   DFND 1 28,614 0 0
VENTAS INC COM 92276F100 18,244 284,625 SH   DFND 1 284,625 0 0