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 19,954 1,654,521 SH   DFND 1 1,654,521 0 0
ARENA PHARMACEUTICALS INC COM 040047102 69 16,500 SH   DFND 1 16,500 0 0
AVALONBAY CMNTYS INC COM 053484101 34,595 245,405 SH   DFND 1 245,405 0 0
BARCLAYS BK PLC S&P 500 VEQTOR 06740C337 6,298 41,727 SH   DFND 1 41,727 0 0
BARCLAYS BK PLC BARC ETN+SHILL 06742A669 1,704 23,316 SH   DFND 1 23,316 0 0
DENBURY RES INC COM NEW 247916208 11,991 797,826 SH   DFND 1 797,826 0 0
ENERPLUS CORP COM 292766102 23,273 1,226,821 SH   DFND 1 1,226,821 0 0
ENSCO PLC SHS CLASS A G3157S106 8,496 205,662 SH   DFND 1 205,662 0 0
FIRST TR US IPO INDEX FD SHS 336920103 1,895 39,414 SH   DFND 1 39,414 0 0
FREEPORT-MCMORAN INC CL B 35671D857 10,932 334,813 SH   DFND 1 334,813 0 0
GLOBAL X FDS GLB X MLP ENRG I 37950E226 1,093 54,911 SH   DFND 1 54,911 0 0
GOLDCORP INC NEW COM 380956409 8,584 372,717 SH   DFND 1 372,717 0 0
HOSPITALITY PPTYS TR COM SH BEN INT 44106M102 16,020 596,631 SH   DFND 1 596,631 0 0
ISHARES TR 1-3 YR TR BD ETF 464287457 622 7,356 SH   DFND 1 7,356 0 0
ISHARES TR 7-10 Y TR BD ETF 464287440 1,212 11,697 SH   DFND 1 11,697 0 0
ISHARES TR CORE S&P MCP ETF 464287507 1,588,857 11,619,550 SH   DFND 1 11,619,550 0 0
ISHARES TR CORE S&P500 ETF 464287200 869,512 4,385,713 SH   DFND 1 4,385,713 0 0
ISHARES TR EUROPE ETF 464287861 872 19,354 SH   DFND 1 19,354 0 0
ISHARES MSCI STH AFR ETF 464286780 276 4,297 SH   DFND 1 4,297 0 0
ISHARES MSCI BRIC INDX 464286657 825 22,154 SH   DFND 1 22,154 0 0
ISHARES TR MSCI EAFE ETF 464287465 289 4,508 SH   DFND 1 4,508 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 566 13,628 SH   DFND 1 13,628 0 0
ISHARES MSCI FRANCE ETF 464286707 1,581 59,534 SH   DFND 1 59,534 0 0
ISHARES MSCI GERMANY ETF 464286806 1,552 56,024 SH   DFND 1 56,024 0 0
ISHARES MSCI JAPAN ETF 464286848 1,586 134,736 SH   DFND 1 134,736 0 0
ISHARES MSCI MEX CAP ETF 464286822 285 4,152 SH   DFND 1 4,152 0 0
ISHARES MSCI SZ CAP ETF 464286749 1,579 48,583 SH   DFND 1 48,583 0 0
ISHARES TR MSCI UTD KNGDM 46434V548 3,158 162,947 SH   DFND 1 162,947 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 737,406 6,743,541 SH   DFND 1 6,743,541 0 0
ISHARES TR CHINA ETF 46429B671 280 5,901 SH   DFND 1 5,901 0 0
ISHARES MSCI TAIWAN ETF 464286731 284 18,608 SH   DFND 1 18,608 0 0
LAS VEGAS SANDS CORP COM 517834107 311 5,000 SH   DFND 1 5,000 0 0
LEXINGTON REALTY TRUST COM 529043101 17,871 1,825,461 SH   DFND 1 1,825,461 0 0
NORTHERN TR CORP COM 665859104 1,022 15,022 SH   DFND 1 15,022 0 0
PENGROWTH ENERGY CORP COM 70706P104 20,955 4,029,829 SH   DFND 1 4,029,829 0 0
PENN WEST PETE LTD NEW COM 707887105 46,413 6,875,944 SH   DFND 1 6,875,944 0 0
PIMCO ETF TR TOTL RETN ETF 72201R775 1,969 18,131 SH   DFND 1 18,131 0 0
PLUM CREEK TIMBER CO INC COM 729251108 12,927 331,384 SH   DFND 1 331,384 0 0
POWERSHARES ETF TR II S&P500 LOW VOL 73937B779 2,414 69,031 SH   DFND 1 69,031 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 1,776 17,977 SH   DFND 1 17,977 0 0
POWERSHARES ETF TR II S&P400 LOVL PT 73937B647 2,198 73,700 SH   DFND 1 73,700 0 0
POWERSHARES ETF TR II S&P600 LOVL PT 73937B639 2,373 78,906 SH   DFND 1 78,906 0 0
PROSHARES TR PSHS ULT S&P 500 74347R107 162,449 1,380,314 SH   DFND 1 1,380,314 0 0
PROSHARES TR PSHS ULTRUSS2000 74347R842 227,158 2,996,409 SH   DFND 1 2,996,409 0 0
PROSHARES TR ULTR 7-10 TREA 74347R180 395 7,443 SH   DFND 1 7,443 0 0
PROSHARES TR MSCI EMRG ETF 74347X302 534 7,189 SH   DFND 1 7,189 0 0
PROSHARES TR PSHS ULT MCAP400 74347R404 391,388 5,960,819 SH   DFND 1 5,960,819 0 0
PROSHARES TR ULTR MSCI ETF 74347X500 3,058 29,208 SH   DFND 1 29,208 0 0
REALTY INCOME CORP COM 756109104 10,715 262,697 SH   DFND 1 262,697 0 0
RITE AID CORP COM 767754104 48 10,000 SH   DFND 1 10,000 0 0
RYDEX ETF TRUST GUG S&P500 EQ WT 78355W106 2,278 30,056 SH   DFND 1 30,056 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 15,106 319,374 SH   DFND 1 319,374 0 0
STARWOOD PPTY TR INC COM 85571B105 18,827 857,320 SH   DFND 1 857,320 0 0
TORTOISE ENERGY INFRSTRCTR C COM 89147L100 1,269 26,390 SH   DFND 1 26,390 0 0
VALE S A ADR 91912E105 8,532 774,938 SH   DFND 1 774,938 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 2,671 31,145 SH   DFND 1 31,145 0 0
VENTAS INC COM 92276F100 20,938 337,982 SH   DFND 1 337,982 0 0