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
Consumer Discretionary Select COM 81369Y407 6,195 68,774 SH   DFND   47,559 0 21,215
Financial Select Sector SPDR F COM 81369Y605 15,760 609,418 SH   DFND   414,146 0 195,272
First Trust Consumer Discretio COM 33734X101 5,158 134,183 SH   DFND   92,686 0 41,497
First Trust Energy AlphaDEX Fu COM 33734X127 2,058 143,389 SH   DFND   98,583 0 44,806
First Trust Industrials/Produc COM 33734X150 7,178 193,371 SH   DFND   133,214 0 60,157
First Trust Large Cap Core Alp COM 33734k109 23,456 427,249 SH   DFND   193,990 0 233,259
First Trust Materials AlphaDEX COM 33734X168 1,985 49,194 SH   DFND   34,018 0 15,176
First Trust Technology AlphaDE COM 33734X176 16,355 340,937 SH   DFND   234,171 0 106,766
GUGGENHEIM S&P 500 EQL WEIGHT COM 78355w106 36,289 379,827 SH   DFND   173,330 0 206,497
Guggenheim Enhanced Short Dura COM 18383M654 649 12,889 SH   DFND   11,009 0 1,880
ISHARES CORE MSCI EMERGING COM 46434G103 17,241 319,152 SH   DFND   141,049 0 178,103
JPMorgan Diversified Return In COM 46641Q209 25,240 435,848 SH   DFND   197,495 0 238,353
O'Shares FTSE US Quality Divid COM 351680855 18,881 624,114 SH   DFND   280,341 0 343,773
PIMCO 0-5 Year High Yield Corp COM 72201R783 662 6,517 SH   DFND   5,548 0 969
PowerShares S&P 500 High Divid COM 73937b654 445 10,863 SH   DFND   9,281 0 1,582
Powershares QQQ Trust Series 1 COM 73935A104 42,090 289,377 SH   DFND   131,783 0 157,593
Real Estate Select Sector SPDR COM 81369Y860 6,251 193,895 SH   DFND   132,889 0 61,006
SPDR Blackstone / GSO Senior L COM 78467V608 21,238 447,880 SH   DFND   206,084 0 241,796
SPDR Health Care Select Sector COM 81369Y209 15,341 187,698 SH   DFND   128,909 0 58,789
SPDR S&P MidCap 400 ETF Trust COM 78467y107 46,990 143,996 SH   DFND   75,238 0 68,758
SPDR S&P500 ETF Trust COM 78462F103 13,007 51,772 SH   DFND   36,034 0 15,738
SPDR Select Technology COM 81369Y803 17,067 288,790 SH   DFND   129,260 0 159,530
Utilities Select Sector SPDR F COM 81369Y886 2,396 45,170 SH   DFND   30,821 0 14,349
iShares Core S&P 500 ETF COM 464287200 21,036 83,169 SH   DFND   37,147 0 46,022
iShares Core S&P Small-Cap ETF COM 464287804 30,601 412,304 SH   DFND   187,090 0 225,213
iShares Core S&P Total US Stoc COM 464287150 61,920 1,074,448 SH   DFND   486,887 0 587,561
iShares Edge MSCI Min Vol USA COM 46429b697 29,514 586,295 SH   DFND   263,892 0 322,402
iShares Intermediate Credit Bo COM 464288638 684 6,212 SH   DFND   5,358 0 854
iShares Russell 2000 ETF COM 464287655 13,752 92,809 SH   DFND   65,183 0 27,626
iShares Short Maturity Bond ET COM 46431W507 390 7,753 SH   DFND   6,616 0 1,137