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
3M CO COM 88579Y101 260 1,359 SH   DFND 1 1,359 0 0
ACADEMY FDS TR INNOV IBD50 FD 004006508 212 8,266 SH   DFND 1 8,266 0 0
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 343 2,860 SH   DFND 1 2,860 0 0
ADOBE SYS INC COM 00724F101 278 2,138 SH   DFND 1 2,138 0 0
ALPHABET INC CAP STK CL A 02079k305 522 616 SH   DFND 1 616 0 0
ALPHABET INC CAP STK CL C 02079k107 594 716 SH   DFND 1 716 0 0
ALTRIA GROUP INC COM 02209S103 397 5,558 SH   DFND 1 5,558 0 0
AMAZON COM INC COM 023135106 559 631 SH   DFND 1 631 0 0
APPLE INC COM 037833100 970 6,752 SH   DFND 1 6,752 0 0
ARENA PHARMACEUTICALS INC COM 040047102 24 16,500 SH   DFND 1 16,500 0 0
BANK AMER CORP COM 060505104 215 9,133 SH   DFND 1 9,133 0 0
BARCLAYS BK PLC S&P 500 VEQTOR 06740C337 331 2,315 SH   DFND 1 2,315 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 285 1,711 SH   DFND 1 1,711 0 0
BLACKSTONE MTG TR INC COM CL A 09257W100 3,068 99,096 SH   DFND 1 99,096 0 0
BOEING CO COM 097023105 235 1,329 SH   DFND 1 1,329 0 0
CHEVRON CORP NEW COM 166764100 250 2,327 SH   DFND 1 2,327 0 0
CHURCH & DWIGHT INC COM 171340102 298 5,980 SH   DFND 1 5,980 0 0
CISCO SYS INC COM 17275R102 263 7,776 SH   DFND 1 7,776 0 0
COCA COLA CO COM 191216100 264 6,209 SH   DFND 1 6,209 0 0
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 270 4,538 SH   DFND 1 4,538 0 0
COLONY NORTHSTAR INC CL A COM 19625W104 7,514 581,996 SH   DFND 1 581,996 0 0
COMCAST CORP NEW CL A 20030N101 249 6,629 SH   DFND 1 6,629 0 0
DHT HOLDINGS INC SHS NEW Y2065G121 3,811 852,590 SH   DFND 1 852,590 0 0
DISNEY WALT CO COM DISNEY 254687106 241 2,128 SH   DFND 1 2,128 0 0
DOW CHEM CO COM 260543103 205 3,220 SH   DFND 1 3,220 0 0
EBAY INC COM 278642103 304 9,052 SH   DFND 1 9,052 0 0
ETFIS SER TR I INFRAC ACT MLP 26923G103 5,147 460,402 SH   DFND 1 460,402 0 0
EURONAV NV ANTWERPEN SHS B38564108 2,604 329,597 SH   DFND 1 329,597 0 0
EXXON MOBIL CORP COM 30231G102 418 5,092 SH   DFND 1 5,092 0 0
FACEBOOK INC CL A 30303M102 624 4,395 SH   DFND 1 4,395 0 0
FELCOR LODGING TR INC COM 31430F101 3,453 459,769 SH   DFND 1 459,769 0 0
FIRST TR EXCHANGE TRADED FD UTILITIES ALPH 33734X184 299 10,902 SH   DFND 10,902 0 0
FIRST TR EXCHANGE TRADED FD HLTH CARE ALPH 33734X143 304 4,874 SH   DFND 4,874 0 0
FIRST TR EXCHANGE TRADED FD FINLS ALPHADEX 33734X135 297 10,708 SH   DFND 10,708 0 0
FIRST TR EXCHANGE TRADED FD INDLS PROD DUR 33734X150 294 8,566 SH   DFND 8,566 0 0
FIRST TR EXCHANGE TRADED FD CONSUMR STAPLE 33734X119 292 6,312 SH   DFND 6,312 0 0
FIRST TR EXCHANGE TRADED FD CONSUMR DISCRE 33734X101 286 7,763 SH   DFND 7,763 0 0
FIRST TR EXCHANGE TRADED FD ENERGY ALPHADX 33734X127 272 17,991 SH   DFND 17,991 0 0
FIRST TR EXCHANGE TRADED FD MATERIALS ALPH 33734X168 293 7,725 SH   DFND 7,725 0 0
FIRST TR EXCHANGE TRADED FD TECH ALPHADEX 33734X176 295 7,022 SH   DFND 7,022 0 0
GENERAL ELECTRIC CO COM 369604103 531 17,813 SH   DFND 1 17,813 0 0
GRAMERCY PPTY TR COM NEW 385002308 3,065 116,542 SH   DFND 1 116,542 0 0
HOME DEPOT INC COM 437076102 244 1,662 SH   DFND 1 1,662 0 0
HONEYWELL INTL INC COM 438516106 216 1,730 SH   DFND 1 1,730 0 0
HOSPITALITY PPTYS TR COM SH BEN INT 44106M102 3,602 114,252 SH   DFND 1 114,252 0 0
INTEL CORP COM 458140100 267 7,403 SH   DFND 1 7,403 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 411 2,360 SH   DFND 1 2,360 0 0
ISHARES MSCI EURZONE ETF 464286608 228 6,054 SH   DFND 1 6,054 0 0
ISHARES MSCI SZ CAP ETF 464286749 239 7,470 SH   DFND 1 7,470 0 0
ISHARES INC MSCI JPN ETF NEW 46434G822 251 4,867 SH   DFND 1 4,867 0 0
ISHARES TR 3-7 YR TR BD ETF 464288661 328 2,666 SH   DFND 1 2,666 0 0
ISHARES TR 7-10YR TR BD ETF 464287440 58,667 555,609 SH   DFND 1 555,609 0 0
ISHARES TR CORE S&P MCP ETF 464287507 28,844 168,462 SH   DFND 1 168,462 0 0
ISHARES TR CORE S&P500 ETF 464287200 1,911 8,054 SH   DFND 1 8,054 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 224 5,689 SH   DFND 1 5,689 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 28,878 210,054 SH   DFND 1 210,054 0 0
ISHARES TR S&P 500 VAL ETF 464287408 844 8,108 SH   DFND 1 8,108 0 0
ISHARES TR S&P MC 400GR ETF 464287606 953 4,990 SH   DFND 1 4,990 0 0
ISHARES TR S&P MC 400VL ETF 464287705 1,075 7,240 SH   DFND 1 7,240 0 0
ISHARES TR CORE US AGGBD ET 464287226 386 3,562 SH   DFND 3,562 0 0
JOHNSON & JOHNSON COM 478160104 352 2,826 SH   DFND 1 2,826 0 0
JPMORGAN CHASE & CO COM 46625H100 285 3,240 SH   DFND 1 3,240 0 0
KRAFT HEINZ CO COM 500754106 267 2,935 SH   DFND 1 2,935 0 0
LEXINGTON REALTY TRUST COM 529043101 2,109 211,371 SH   DFND 1 211,371 0 0
MASTERCARD INCORPORATED CL A 57636Q104 371 3,302 SH   DFND 1 3,302 0 0
MEDTRONIC PLC SHS g5960l103 275 3,408 SH   DFND 1 3,408 0 0
MICROSOFT CORP COM 594918104 723 10,976 SH   DFND 1 10,976 0 0
MONDELEZ INTL INC CL A 609207105 465 10,787 SH   DFND 1 10,787 0 0
NETFLIX INC COM 64110L106 232 1,569 SH   DFND 1 1,569 0 0
NEW RESIDENTIAL INVT CORP COM NEW 64828T201 9,149 538,813 SH   DFND 1 538,813 0 0
NEW SR INVT GROUP INC COM 648691103 4,283 419,910 SH   DFND 1 419,910 0 0
OMEGA HEALTHCARE INVS INC COM 681936100 2,424 73,476 SH   DFND 1 73,476 0 0
ORACLE CORP COM 68389X105 390 8,741 SH   DFND 1 8,741 0 0
PAYPAL HLDGS INC COM 70450Y103 272 6,317 SH   DFND 1 6,317 0 0
PEPSICO INC COM 713448108 257 2,298 SH   DFND 1 2,298 0 0
PFIZER INC COM 717081103 217 6,345 SH   DFND 1 6,345 0 0
PHILIP MORRIS INTL INC COM 718172109 1,152 10,204 SH   DFND 1 10,204 0 0
PIMCO ETF TR TTL RTN ACTV ETF 72201R775 667 6,335 SH   DFND 1 6,335 0 0
POWERSHARES ETF TR II PWRSHS SP500 LOW 73937B654 1,852 45,724 SH   DFND 1 45,724 0 0
POWERSHARES ETF TR II S&P400 LOVL PT 73937B647 1,104 26,087 SH   DFND 1 26,087 0 0
PROCTER AND GAMBLE CO COM 742718109 386 4,295 SH   DFND 1 4,295 0 0
PROSHARES TR PSHS ULT MCAP400 74347R404 5,474 54,246 SH   DFND 1 54,246 0 0
PROSHARES TR PSHS ULT S&P 500 74347R107 2,354 27,750 SH   DFND 1 27,750 0 0
PROSHARES TR PSHS ULTRUSS2000 74347R842 5,498 47,549 SH   DFND 1 47,549 0 0
PROSHARES TR ULTR 7-10 TREA 74347R180 11,274 198,068 SH   DFND 1 198,068 0 0
RITE AID CORP COM 767754104 43 10,000 SH   DFND 1 10,000 0 0
SALESFORCE COM INC COM 79466L302 248 3,005 SH   DFND 1 3,005 0 0
SCORPIO TANKERS INC SHS Y7542C106 2,648 596,379 SH   DFND 1 596,379 0 0
SPDR DOW JONES INDL AVRG ETF UT SER 1 78467X109 1,993 9,657 SH   DFND 1 9,657 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 2,611 257,712 SH   DFND 1 257,712 0 0
STARWOOD PPTY TR INC COM 85571B105 5,384 238,455 SH   DFND 1 238,455 0 0
TEEKAY CORPORATION COM Y8564W103 2,952 322,616 SH   DFND 1 322,616 0 0
TESORO CORP COM 881609101 2,399 29,599 SH   DFND 1 29,599 0 0
UNITED TECHNOLOGIES CORP COM 913017109 214 1,905 SH   DFND 1 1,905 0 0
UNITEDHEALTH GROUP INC COM 91324P102 386 2,353 SH   DFND 1 2,353 0 0
VISA INC COM CL A 92826C839 422 4,745 SH   DFND 1 4,745 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 223 2,691 SH   DFND 1 2,691 0 0
WELLS FARGO & CO NEW COM 949746101 227 4,081 SH   DFND 1 4,081 0 0
YAHOO INC COM 984332106 267 5,762 SH   DFND 1 5,762 0 0