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 SPDR ETF 81369Y407 32 433 SH   SOLE   433 0 0
Consumer Discretionary SPDR ETF 81369Y407 3,644 49,077 SH   DFND 1 49,077 0 0
Consumer Staples Select Sector ETF 81369Y308 53 1,132 SH   SOLE   1,132 0 0
Consumer Staples Select Sector ETF 81369Y308 6,042 128,029 SH   DFND 1 128,029 0 0
Health Care Select Sector SPDR ETF 81369Y209 50 753 SH   SOLE   753 0 0
Health Care Select Sector SPDR ETF 81369Y209 5,639 85,139 SH   DFND 1 85,139 0 0
PowerShares QQQ ETF 73935A104 63 615 SH   SOLE   615 0 0
PowerShares QQQ ETF 73935A104 7,077 69,549 SH   DFND 1 69,549 0 0
Technology Select Sector SPDR ETF 81369Y803 42 1,070 SH   SOLE   1,070 0 0
Technology Select Sector SPDR ETF 81369Y803 4,777 120,949 SH   DFND 1 120,949 0 0
iShares Russell Midcap Value I ETF 464287473 32 482 SH   SOLE   482 0 0
iShares Russell Midcap Value I ETF 464287473 3,637 54,217 SH   DFND 1 54,217 0 0
iShares S&P Value ETF 464287408 3,517 41,851 SH   SOLE   41,851 0 0
PowerShares Preferred ETF 73936T565 54 3,733 SH   SOLE   3,733 0 0
PowerShares Preferred ETF 73936T565 6,140 421,146 SH   DFND 1 421,146 0 0
iShares Nasdaq Biotechnology ETF 464287556 37 123 SH   SOLE   123 0 0
iShares Nasdaq Biotechnology ETF 464287556 4,276 14,097 SH   DFND 1 14,097 0 0
Deutsche Bank X-Trackers MSCI ETF 233051507 2,625 72,000 SH   SOLE   72,000 0 0
Deutsche X-trackers MSCI EAFE ETF 233051200 61 2,335 SH   SOLE   2,335 0 0
Deutsche X-trackers MSCI EAFE ETF 233051200 6,877 263,693 SH   DFND 1 263,693 0 0