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
ABBVIE INC. COM 00287Y109 454 7,244 SH   DFND   0 7,244 0
ACADIA PHARMACEUTICALS INC COM COM 004225108 306 10,600 SH   DFND   0 10,600 0
Advisorshares Tr Peritus High Yield ETF ETF 00768Y503 412 11,555 SH   DFND   0 11,555 0
ALPHABET INC CAP STK CL A COM 02079K305 224 283 SH   DFND   0 283 0
ALPS Alerian MLP ETF ETF 00162Q866 667 52,973 SH   DFND   0 52,973 0
AMERICAN WTR WKS CO INC NEW COM COM 030420103 243 3,355 SH   DFND   0 3,355 0
APPLE INC COM COM 037833100 869 7,505 SH   DFND   0 7,505 0
Argan Inc Com COM 04010E109 472 6,685 SH   DFND   0 6,685 0
AT&T INC COM COM 00206R102 571 13,438 SH   DFND   0 13,438 0
Autonation Inc COM 05329W102 214 4,403 SH   DFND   0 4,403 0
Banc of California, Inc. COM 05990K106 2,322 133,817 SH   DFND   0 133,817 0
Bank Of The Ozarks Inc Com COM 063904106 457 8,683 SH   DFND   0 8,683 0
Broadcom Limited Shs COM Y09827109 3,367 19,048 SH   DFND   0 19,048 0
Bunge Ltd. COM G16962105 284 3,925 SH   DFND   0 3,925 0
Capital One Financial Corporation COM 14040H105 364 4,173 SH   DFND   0 4,173 0
Centurytel Inc COM 156700106 2,258 94,968 SH   DFND   0 94,968 0
Cerner Corp COM 156782104 299 6,319 SH   DFND   0 6,319 0
Chemed Corp New COM 16359R103 932 5,810 SH   DFND   0 5,810 0
Cinemark Hldgs Inc Com COM 17243V102 2,054 53,550 SH   DFND   0 53,550 0
Cummins Inc Formerlycummins Engine Inc COM 231021106 2,202 16,114 SH   DFND   0 16,114 0
Dean Foods Company COM 242370203 1,665 76,468 SH   DFND   0 76,468 0
DISNEY WALT CO COM DISNEY COM 254687106 251 2,407 SH   DFND   0 2,407 0
EXXON MOBIL CORP COM COM 30231G102 436 4,832 SH   DFND   0 4,832 0
FACEBOOK INC CL A COM 30303M102 511 4,441 SH   DFND   0 4,441 0
Fiserv Inc COM 337738108 457 4,300 SH   DFND   0 4,300 0
FS INVT CORP COM COM 302635107 327 31,747 SH   DFND   0 31,747 0
GENERAL ELECTRIC CO COM COM 369604103 219 6,918 SH   DFND   0 6,918 0
GILEAD SCIENCES INC COM COM 375558103 326 4,547 SH   DFND   0 4,547 0
GLOBAL NET LEASE INC COM COM 379378102 229 29,212 SH   DFND   0 29,212 0
Global X Fds Global X Ftse Norway 30 Et ETF 37950E747 354 32,065 SH   DFND   0 32,065 0
Greenbrier Companies Inc COM 393657101 1,760 42,363 SH   DFND   0 42,363 0
Hain Celestial Group Inc COM 405217100 284 7,282 SH   DFND   0 7,282 0
Healthsouth Corp Com New COM 421924309 2,142 51,929 SH   DFND   0 51,929 0
Henry Jack & Associates Inc COM 426281101 556 6,264 SH   DFND   0 6,264 0
Home Depot, Inc. COM 437076102 248 1,846 SH   DFND   0 1,846 0
International Business Machines Corp COM 459200101 2,195 13,225 SH   DFND   0 13,225 0
iShares C&S Realty Maj ETF 464287564 630 6,321 SH   DFND   0 6,321 0
ishares Core US Value ETF ETF 464287663 1,348 27,426 SH   DFND   0 27,426 0
iShares DJ US Healthcare Sector ETF 464287762 1,357 9,417 SH   DFND   0 9,417 0
iShares DJ US Tech Sect Index ETF 464287721 472 3,928 SH   DFND   0 3,928 0
iShares Dow Jones Select Dividend ETF 464287168 1,371 15,475 SH   DFND   0 15,475 0
iShares Inc Mcsi Chile Investable ETF 464286640 530 14,176 SH   DFND   0 14,176 0
iShares Inc Msci Brazil Index ETF 464286400 478 14,341 SH   DFND   0 14,341 0
iShares JPMorgan USD Emerging Mkts Bond ETF 464288281 998 9,059 SH   DFND   0 9,059 0
iShares MSCI Austria Index Fund ETF 464286202 399 24,128 SH   DFND   0 24,128 0
iShares MSCI EAFE Index ETF 464287465 330 5,711 SH   DFND   0 5,711 0
iShares MSCI EAFE Small-Cap ETF 464288273 385 7,735 SH   DFND   0 7,735 0
iShares MSCI Emerging Markets Asia ETF 464286426 777 14,843 SH   DFND   0 14,843 0
ISHARES MSCI EMERGING MARKETS ETF ETF 464287234 1,748 49,924 SH   DFND   0 49,924 0
ishares Msci Europe Small-Cap ETF 464288497 1,546 35,281 SH   DFND   0 35,281 0
iShares MSCI Germany ETF 464286806 384 14,505 SH   DFND   0 14,505 0
iShares MSCI Hong Kong Index ETF 464286871 388 19,940 SH   DFND   0 19,940 0
iShares MSCI India ETF 46429B598 470 17,533 SH   DFND   0 17,533 0
iShares MSCI Italy Capped Index ETF 46434G830 403 17,336 SH   DFND   0 17,336 0
iShares MSCI Singapore Index ETF 46434G780 355 17,495 SH   DFND   0 17,495 0
iShares MSCI South Korea Index Fund ETF 464286772 414 7,780 SH   DFND   0 7,780 0
iShares MSCI Spain Index Fund ETF 464286764 360 13,582 SH   DFND   0 13,582 0
iShares MSCI Taiwan Index Fd ETF 46434G772 442 15,209 SH   DFND   0 15,209 0
iShares MSCI Thailand Capped Index Fd ETF 464286624 406 5,630 SH   DFND   0 5,630 0
iShares MSCI United Kingdom Ind Fund ETF 46435G334 336 10,957 SH   DFND   0 10,957 0
ISHARES RUSSELL 2000 ETF ETF 464287655 5,497 40,764 SH   DFND   0 40,764 0
iShares Russell MC Idx ETF 464287499 1,018 5,690 SH   DFND   0 5,690 0
ISHARES S&P 500 GROWTH ETF ETF 464287309 1,817 14,918 SH   DFND   0 14,918 0
iShares S&P 500 Index ETF 464287200 718 3,193 SH   DFND   0 3,193 0
iShares S&P Emerging Mkts ETF 464288216 719 25,694 SH   DFND   0 25,694 0
ISHARES S&P MID-CAP 400 VALUE ETF ETF 464287705 1,278 8,803 SH   DFND   0 8,803 0
ISHARES S&P SMALL-CAP 600 GROWTH ETF ETF 464287887 2,076 13,842 SH   DFND   0 13,842 0
ISHARES S&P SMALL-CAP 600 VALUE ETF ETF 464287879 2,140 15,287 SH   DFND   0 15,287 0
Ishares Tr Cre U S Reit Etf ETF 464288521 1,417 29,062 SH   DFND   0 29,062 0
iShares Tr Iboxx High Yield Corp ETF 464288513 304 3,516 SH   DFND   0 3,516 0
iShares Tr Msci All Peru Capped Index Fd ETF 464289842 452 13,769 SH   DFND   0 13,769 0
iShares Tr Msci Poland Investable ETF 46429B606 493 27,210 SH   DFND   0 27,210 0
iShares Tr S&P Global Info ETF 464287291 1,097 9,987 SH   DFND   0 9,987 0
Johnson & Johnson COM 478160104 1,873 16,255 SH   DFND   0 16,255 0
JP Morgan Chase & Co. COM 46625H100 1,855 21,499 SH   DFND   0 21,499 0
Kinder Morgan Inc COM 49456B101 1,388 67,027 SH   DFND   0 67,027 0
LADENBURG THALMAN FIN SVCS INC PFD SER A COM 50575Q201 424 17,694 SH   DFND   0 17,694 0
Lam Research Corp COM 512807108 502 4,746 SH   DFND   0 4,746 0
Lockheed Martin Corporation COM 539830109 239 958 SH   DFND   0 958 0
Market Vectors Russia ETF ETF 92189F403 485 22,839 SH   DFND   0 22,839 0
Marriott International Inc COM 571903202 455 5,501 SH   DFND   0 5,501 0
MONOGRAM RESIDENTIAL TR INC COM COM 60979P105 180 16,593 SH   DFND   0 16,593 0
Murphy Oil Corporation COM 626717102 2,167 69,605 SH   DFND   0 69,605 0
NETFLIX INC COM ETF 64110L106 202 1,628 SH   DFND   0 1,628 0
NEW YORK REIT INC COM COM 64976L109 296 29,259 SH   DFND   0 29,259 0
NORTHSTAR RLTY FIN CORP COM COM 66704R803 172 11,328 SH   DFND   0 11,328 0
Norwegian Cruise Line Hldgs Ltd Com Usd0 COM G66721104 349 8,212 SH   DFND   0 8,212 0
Novo-Nordisk As Adr-Each Cnv Into 1 COM 670100205 2,019 56,310 SH   DFND   0 56,310 0
Open Text Co Com Stknpv COM 683715106 2,985 48,285 SH   DFND   0 48,285 0
Pimco High Income Fund ETF 722014107 169 18,381 SH   DFND   0 18,381 0
Powershares ETF Trust II Intl ETF 73936Q835 1,011 41,301 SH   DFND   0 41,301 0
POWERSHARES QQQ TRUST, SERIES 1 COM 73935A104 1,997 16,859 SH   DFND   0 16,859 0
PROCTER AND GAMBLE CO COM COM 742718109 266 3,162 SH   DFND   0 3,162 0
Realty Income Corp COM 756109104 2,583 44,935 SH   DFND   0 44,935 0
Rowan Companies Inc COM G7665A101 321 16,989 SH   DFND   0 16,989 0
S&P Global Inc Com COM 78409V104 240 2,236 SH   DFND   0 2,236 0
SANCHEZ ENERGY CORP COM COM 79970Y105 293 32,489 SH   DFND   0 32,489 0
SPDR Barclays Conv Secs ETF ETF 78464A359 1,704 37,330 SH   DFND   0 37,330 0
SPDR GOLD SHARES COM 78463V107 380 3,465 SH   DFND   0 3,465 0
SPDR S&P China ETF ETF 78463X400 483 6,697 SH   DFND   0 6,697 0
SPDR S&P Emerging Markets Small Cap ETF 78463X756 1,149 28,938 SH   DFND   0 28,938 0
SPDR S&P MIDCAP 400 ETF ETF 78467Y107 3,123 10,351 SH   DFND   0 10,351 0
Spdr Ser Tr Db Intl Govt Inflation ETF 78464A490 813 15,630 SH   DFND   0 15,630 0
Spdr Ser Tr Dj Wilshire Small Cap ETF 78464A300 1,069 8,980 SH   DFND   0 8,980 0
Spdr Ser Tr Dj Wilshire Large Cap ETF 78464A508 372 3,394 SH   DFND   0 3,394 0
SPDR Ser Tr S&P Biotech Etf ETF 78464A870 399 6,737 SH   DFND   0 6,737 0
Ssga Active Etf Tr Blackstone / Gso SR L ETF 78467V608 304 6,411 SH   DFND   0 6,411 0
Target Corp COM 87612E106 1,915 26,508 SH   DFND   0 26,508 0
Tesoro Corp Com Formerly Tesoro Pete COM 881609101 306 3,497 SH   DFND   0 3,497 0
Texas Instruments Incorporated COM 882508104 1,001 13,723 SH   DFND   0 13,723 0
The Southern Company COM 842587107 206 4,178 SH   DFND   0 4,178 0
Total System Services Inc COM 891906109 520 10,604 SH   DFND   0 10,604 0
United Rentals Inc COM 911363109 412 3,905 SH   DFND   0 3,905 0
UnumProvident Corporation COM 91529Y106 2,304 52,441 SH   DFND   0 52,441 0
Vanguard Emerging Markets Stock ETF ETF 922042858 1,432 40,019 SH   DFND   0 40,019 0
Vanguard Europe Pacific ETF ETF 921943858 1,277 34,948 SH   DFND   0 34,948 0
Vanguard Inter-Term Corporate Bond ETF 92206C870 955 11,145 SH   DFND   0 11,145 0
VANGUARD S&P 500 ETF ETF 922908363 4,383 21,350 SH   DFND   0 21,350 0
Ventas Inc COM 92276F100 440 7,034 SH   DFND   0 7,034 0
VEREIT INC COM COM 92339V100 2,677 316,463 SH   DFND   0 316,463 0
VERIZON COMMUNICATIONS INC COM COM 92343V104 295 5,526 SH   DFND   0 5,526 0
VISA INC COM CL A COM 92826C839 301 3,857 SH   DFND   0 3,857 0
Wal-Mart Stores Inc COM 931142103 1,907 27,589 SH   DFND   0 27,589 0
Wells Fargo & Company COM 949746101 2,896 52,555 SH   DFND   0 52,555 0
Wyndham Worldwide Corp COM 98310W108 2,026 26,527 SH   DFND   0 26,527 0
Yamana Gold Inc Com Npv COM 98462Y100 33 11,676 SH   DFND   0 11,676 0