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
ISHARES TR CORE SandP TTL STK COM 464287150 74,476 1,156,464 SH   DFND   247,309 0 909,155
ISHARES TR MIN VOL USA ETF COM 46429B697 69,807 1,187,205 SH   DFND   250,919 0 936,286
INVESCO EXCHANGE TRADED FD TR SandP500 EQL COM 46137V357 66,341 635,213 SH   DFND   136,869 0 498,344
VANGUARD INDEX FDS SandP 500 ETF SHS COM 922908363 30,940 119,212 SH   DFND   25,432 0 93,780
JP MORGAN EXCHANGE TRADED FD ULTRA SHRT INC COM 46641Q837 29,325 583,010 SH   DFND   117,483 0 465,527
ISHARES TR USA QUALITY FCTR COM 46432F339 26,018 293,831 SH   DFND   62,801 0 231,030
SPDR SandP MIDCAP 400 ETF TR UTSER1 SandPDCRP COM 78467Y107 25,708 74,432 SH   DFND   16,055 0 58,377
FIRST TR EXCHANGE TRADED FD IV SENIOR LN FD COM 33738D309 25,364 538,523 SH   DFND   117,221 0 421,302
ISHARES US ETF TR SHT MAT BD ETF COM 46431W507 25,263 502,858 SH   DFND   111,480 0 391,378
ISHARES TR FLTG RATE NT ETF COM 46429B655 25,230 495,587 SH   DFND   110,973 0 384,614
FIRST TR EXCHANGE TRADED FD II TECH ALPHADEX COM 33734X176 25,223 394,617 SH   DFND   55,795 0 338,822
FIRST TR EXCHANGE TRADED FD II HLTH CARE ALPH COM 33734X143 22,228 290,909 SH   DFND   38,854 0 252,055
INVESCO QQQ TR UNIT SER 1 COM 46090E103 20,923 116,460 SH   DFND   22,318 0 94,142
SPDR INDEX SHS FDS PORTFOLIO EMG MK COM 78463X509 20,095 561,957 SH   DFND   119,469 0 442,488
ISHARES INC CORE MSCI EMKT COM 46434G103 19,838 383,655 SH   DFND   78,657 0 304,998
SELECT SECTOR SPDR TR SBI INT-FINL COM 81369Y605 18,848 733,107 SH   DFND   98,693 0 634,414
OSI ETF TR OSHARS FTSE US COM 67110P407 15,941 474,446 SH   DFND   103,744 0 370,702
WISDOMTREE TR EUROPE HEDGED EQ COM 97717X701 15,425 241,358 SH   DFND   52,100 0 189,258
SPDR SER TR BLOMBERG BRC INV COM 78468R200 14,880 484,710 SH   DFND   102,783 0 381,927
SELECT SECTOR SPDR TR SBI CONS STPLS COM 81369Y308 13,700 244,167 SH   DFND   31,551 0 212,616
SELECT SECTOR SPDR TR SBI MATERIALS COM 81369Y100 4,805 86,583 SH   DFND   11,687 0 74,896
SELECT SECTOR SPDR TR RL EST SEL SEC COM 81369Y860 4,588 126,697 SH   DFND   16,865 0 109,832
ISHARES TR INTRM TR CRP ETF COM 464288638 1,440 26,121 SH   DFND   15,784 0 10,337
PIMCO ETF TR 0-5 HIGH YIELD COM 72201R783 1,420 14,173 SH   DFND   8,678 0 5,495
INVESCO ACTIVELY MANAGD ETF TR ULTRA SHRT DUR COM 46090A887 1,397 27,794 SH   DFND   16,900 0 10,894
ISHARES TR CORE US AGGBD ET COM 464287226 994 9,118 SH   DFND   0 0 9,118
SSGA ACTIVE ETF TR BLKSTN GSOSRLN COM 78467V608 971 21,085 SH   DFND   14,822 0 6,263
VANECK VECTORS ETF TR FALLEN ANGEL HG COM 92189F437 762 26,514 SH   DFND   16,292 0 10,222
INVESCO EXCHNG TRADED FD TR II SandP500 HDL VOL COM 46138E362 576 13,588 SH   DFND   8,388 0 5,200
VANGUARD INDEX FDS REAL ESTATE ETF COM 922908553 412 4,752 SH   DFND   0 0 4,752
INVESCO EXCHANGE TRADED FD TR SandP500 PUR COM 46137V266 340 2,940 SH   DFND   0 0 2,940
ISHARES TR SHORT TREAS BD COM 464288679 294 2,659 SH   DFND   0 0 2,659
SPDR SER TR SPDR BLOOMBERG COM 78468R663 227 2,483 SH   DFND   2,483 0 0
ISHARES TR MSCI CHINA ETF COM 46429B671 94 1,512 SH   DFND   0 0 1,512
ISHARES TR MSCI INDONIA ETF COM 46429B309 92 3,588 SH   DFND   0 0 3,588
ISHARES INC MSCI THAILND ETF COM 464286624 91 1,041 SH   DFND   0 0 1,041
ISHARES INC MSCI RUSSIA ETF COM 46434G798 89 2,601 SH   DFND   0 0 2,601
ISHARES INC MSCI TURKEY ETF COM 464286715 88 3,638 SH   DFND   0 0 3,638
ISHARES TR 20 YR TR BD ETF COM 464287432 68 540 SH   DFND   0 0 540
ISHARES INC MSCI TAIWAN ETF COM 46434G772 68 1,972 SH   DFND   0 0 1,972
ISHARES INC MSCI CHILE ETF COM 464286640 68 1,579 SH   DFND   0 0 1,579
ISHARES INC MSCI STH AFR ETF COM 464286780 67 1,294 SH   DFND   0 0 1,294
ISHARES INC MSCI MEXICO ETF COM 464286822 66 1,522 SH   DFND   0 0 1,522
ISHARES INC MSCI BRAZIL ETF COM 464286400 25 613 SH   DFND   0 0 613
ISHARES TR MSCI INDIA ETF COM 46429B598 24 702 SH   DFND   0 0 702
ISHARES TR MSCI PHILIPS ETF COM 46429B408 24 720 SH   DFND   0 0 720
ISHARES TR MSCI POLAND ETF COM 46429B606 23 1,041 SH   DFND   0 0 1,041
ISHARES TR CORE SandP SCP ETF COM 464287804 20 262 SH   DFND   154 0 108
SELECT SECTOR SPDR TR TECHNOLOGY COM 81369Y803 11 155 SH   DFND   155 0 0
JP MORGAN EXCHANGE TRADED FD DIV RTN INT EQ COM 46641Q209 8 150 SH   DFND   150 0 0
ISHARES TR SH TR CRPORT ETF COM 464288646 8 155 SH   DFND   0 0 155
SPDR SER TR PORTFOLIO SM ETF COM 78468R853 6 214 SH   DFND   214 0 0
ISHARES TR SELECT DIVID ETF COM 464287168 3 34 SH   DFND   34 0 0
INVESCO ACTIVELY MANAGD ETF TR OPTIMUM YIELD COM 46090F100 2 161 SH   DFND   161 0 0