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
21ST CENTURY FOX -A- -SHS CL A 90130A101 947 24,650 SH   DFND   24,650 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 3,148 30,290 SH   DFND 1 0 0 30,290
AMERICAN CAPITAL AGENCY CORP COM 02503X105 747 34,230 SH   DFND 1 0 0 34,230
APPLE INC -SHS COM 37833100 633 5,734 SH   DFND   5,734 0 0
AT&T INC COM 00206R102 220 6,552 SH   DFND 1 0 0 6,552
BARCLAYS BANK PLC ADR PFD SR 5 06739H362 466 17,869 SH   DFND 1 0 0 17,869
BARCLAYS PLC-SPONS ADR -SHS ADR 06738E204 137 9,100 SH   DFND   9,100 0 0
BOEING CO -SHS COM 97023105 152 1,170 SH   DFND   1,170 0 0
BOFI HLDG INC COM 05566U108 497 6,391 SH   DFND 1 0 0 6,391
BRISTOL MYERS SQUIBB CO COM 110122108 940 15,932 SH   DFND 1 0 0 15,932
CAPITAL ONE FINL CORP COM 14040H105 316 3,823 SH   DFND 1 0 0 3,823
CENOVUS ENERGY INC COM 15135U109 959 46,525 SH   DFND 1 0 0 46,525
CENTURYLINK INC COM 156700106 390 9,850 SH   DFND 1 0 0 9,850
Check Point Software ORD M22465104 42,972 546,931 SH   SOLE   546,931 0 0
CHECK POINT SOFTWARE TECH LT ORD M22465104 1,898 24,160 SH   DFND 1 0 0 24,160
CHEVRON CORP -SHS COM 166764100 353 3,149 SH   DFND   3,149 0 0
CHINA MOBILE LIMITED SPONSORED ADR 16941M109 5,633 95,775 SH   DFND 1 0 0 95,775
CISCO SYS INC COM 17275R102 495 17,789 SH   DFND 1 0 0 17,789
CITIGROUP INC COM NEW 172967424 1,521 28,107 SH   DFND 1 0 0 28,107
CITIGROUP INC -SHS COM NEW 172967424 1,045 19,310 SH   DFND   19,310 0 0
CLAYMORE EXCHANGE TRD FD TR GUGG INSDR SENT 18383M209 2,797 57,011 SH   DFND 1 0 0 57,011
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 253 4,812 SH   DFND 1 0 0 4,812
CONOCOPHILLIPS COM 20825C104 715 10,347 SH   DFND 1 0 0 10,347
CVS CAREMARK CORP -SHS COM 126650100 222 2,300 SH   DFND   2,300 0 0
CVS HEALTH CORP COM 126650100 1,874 19,459 SH   DFND 1 0 0 19,459
DBX ETF DB X-TRACKERS MSCI -ETF DB XTR MSCI EUR 233051853 884 33,920 SH   DFND   33,920 0 0
DBX ETF TR DX TRACKR GERMN 233051408 2,056 87,572 SH   DFND 1 0 0 87,572
DELTA AIR LINES INC -SHS COM NEW 247361702 519 10,550 SH   DFND   10,550 0 0
DISCOVER FINANCIAL SERVICES -SHS COM 254709108 753 11,500 SH   DFND   11,500 0 0
DISNEY WALT CO COM DISNEY 254687106 226 2,400 SH   DFND 1 0 0 2,400
DUKE ENERGY CORP NEW COM NEW 26441C204 931 11,150 SH   DFND 1 0 0 11,150
E M C CORP MASS COM 268648102 1,629 54,765 SH   DFND 1 0 0 54,765
EATON VANCE TX MNG BY WRT OP COM 27828Y108 203 14,428 SH   DFND 1 0 0 14,428
Elbit Imaging Ltd ORD SHS M37605108 1,356 807,202 SH   SOLE   807,202 0 0
Ellomay Capital Limited SHS M39927120 128 14,000 SH   SOLE   14,000 0 0
EMC CORP/MASS -SHS COM 268648102 322 10,830 SH   DFND   10,830 0 0
ESTEE LAUDER COMPANIES INC SHS -A- CL A 518439104 287 3,760 SH   DFND   3,760 0 0
EXPRESS SCRIPTS HOLDING CO -SHS COM 30219G108 174 2,050 SH   DFND   2,050 0 0
EXXON MOBIL CORP COM 30231G102 1,650 17,843 SH   DFND 1 0 0 17,843
FACEBOOK INC CL A 30303M102 640 8,199 SH   DFND 1 0 0 8,199
FINANCIAL SELECT SECTOR SPDR-ETF SBI INT-FINL 81369Y605 1,205 48,730 SH   DFND   48,730 0 0
FIRST TR EXCHANGE TRADED FD DJ INTERNT IDX 33733E302 262 4,271 SH   DFND 1 0 0 4,271
FIRST TR EXCHANGE TRADED FD ISE CLOUD COMP 33734X192 890 31,275 SH   DFND 1 0 0 31,275
FORD MTR CO DEL COM PAR $0.01 345370860 306 19,723 SH   DFND 1 0 0 19,723
Gazit Globe Ltd SHS M4793C102 20,187 1,700,000 SH   SOLE   1,700,000 0 0
GENERAL ELECTRIC CO COM 369604103 1,004 39,734 SH   DFND 1 0 0 39,734
GENERAL ELECTRIC CO -SHS COM 369604103 408 16,161 SH   DFND   16,161 0 0
GENERAL MOTORS CO -SH COM 37045V100 740 21,200 SH   DFND   21,200 0 0
GILEAD SCIENCES INC COM 375558103 2,771 29,393 SH   DFND 1 0 0 29,393
GOOGLE INC CL A 38259P508 1,028 1,938 SH   DFND 1 0 0 1,938
GOOGLE INC CL C 38259P706 2,089 3,969 SH   DFND 1 0 0 3,969
GOOGLE INC-CL A -SHS CL A 38259P508 1,055 1,989 SH   DFND   1,989 0 0
HALLIBURTON CO COM 406216101 807 20,510 SH   DFND 1 0 0 20,510
HCA HOLDINGS INC COM 40412C101 208 2,830 SH   DFND 1 0 0 2,830
HCA HOLDINGS INC -SHS COM 40412C101 281 3,830 SH   DFND   3,830 0 0
HEALTH CARE SELECT SECTOR-ETF SBI HEALTHCARE 81369Y209 4,248 62,460 SH   DFND   62,460 0 0
HONEYWELL INTERNATIONAL INC -SHS COM 438516106 470 4,705 SH   DFND   4,705 0 0
HSBC HOLDINGS PLC-SPONS ADR -SHS SPON ADR NEW 404280406 98 2,067 SH   DFND   2,067 0 0
INDEXIQ ETF TR US RL EST SMCP 45409B628 593 21,576 SH   DFND 1 0 0 21,576
INDUSTRIAL SELECT SECT SPDR-ETF SBI INT-INDS 81369Y704 529 9,360 SH   DFND   9,360 0 0
ISHARES MSCI MEX CAP ETF 464286822 258 4,338 SH   DFND 1 0 0 4,338
ISHARES AGENCY BOND ETF 464288166 2,113 18,685 PRN   DFND 1 0 0 18,685
ISHARES MSCI AC ASIA ETF 464288182 1,241 20,365 SH   DFND 1 0 0 20,365
ISHARES JP MOR EM MK ETF 464288281 1,190 10,848 PRN   DFND 1 0 0 10,848
ISHARES IBOXX HI YD ETF 464288513 456 5,087 PRN   DFND 1 0 0 5,087
ISHARES 1-3 YR CR BD ETF 464288646 1,774 16,866 PRN   DFND 1 0 0 16,866
ISHARES 3-7 YR TR BD ETF 464288661 7,440 60,832 PRN   DFND 1 0 0 60,832
ISHARES MSCI EURO FL ETF 464289180 398 18,071 SH   DFND 1 0 0 18,071
ISHARES INDIA 50 ETF 464289529 903 30,210 SH   DFND 1 0 0 30,210
IShares MSCI Germany ETF 464286806 16,172 590,000 SH   SOLE   590,000 0 0
IShares MSCI UK ETF 464286699 16,227 900,000 SH   SOLE   900,000 0 0
ISHARES BARCLAYS 1-3 YEAR CR-ETF 1-3 YR CR BD ETF 464288646 943 8,970 SH   DFND   8,970 0 0
ISHARES BARCLAYS INTERM.CREDIT BOND INTERM CR BD ETF 464288638 522 4,770 SH   DFND   4,770 0 0
ISHARES CORE MSCI EMERGING MARK ETF CORE MSCI EMKT 46434G103 5,096 108,350 SH   DFND   108,350 0 0
ISHARES CURRENCY HD MSCI GERM -ETF HDG MSCI GERMN 46434V704 113 4,800 SH   DFND   4,800 0 0
ISHARES DJ US PHARMA INDEX F-ETF U.S. PHARMA ETF 464288836 234 1,550 SH   DFND   1,550 0 0
ISHARES FTSE/XINHUA CHINA 25-ETF CHINA LG-CAP ETF 464287184 125 3,000 SH   DFND   3,000 0 0
ISHARES IBOXX H/Y CORP BOND-ETF IBOXX HI YD ETF 464288513 351 3,920 SH   DFND   3,920 0 0
ISHARES IBOXX INV GR CORP BD-ETF IBOXX INV CP ETF 464287242 264 2,210 SH   DFND   2,210 0 0
ISHARES MSCI ACWI INDEX FUND-ETF MSCI ACWI ETF 464288257 1,806 30,870 SH   DFND   30,870 0 0
ISHARES MSCI EMERGING MKT IN-ETF MSCI EMG MKT ETF 464287234 651 16,560 SH   DFND   16,560 0 0
ISHARES MSCI EUR FIN SECTOR IND FD MSCI EURO FL ETF 464289180 458 20,810 SH   DFND   20,810 0 0
ISHARES MSCI JAPAN INDEX FD-ETF MSCI JAPAN ETF 464286848 2,821 251,000 SH   DFND   251,000 0 0
ISHARES MSCI USA MIN VOLATIL IND-FD USA MIN VOL ETF 46429B697 99 2,440 SH   DFND   2,440 0 0
ISHARES NASDAQ BIOTECHNOLOG IND FD NASDQ BIOTEC ETF 464287556 774 2,550 SH   DFND   2,550 0 0
ISHARES TR SELECT DIVID ETF 464287168 684 8,620 SH   DFND 1 0 0 8,620
ISHARES TR CHINA LG-CAP ETF 464287184 638 15,325 SH   DFND 1 0 0 15,325
ISHARES TR MSCI EMG MKT ETF 464287234 2,724 69,339 SH   DFND 1 0 0 69,339
ISHARES TR IBOXX INV CP ETF 464287242 376 3,149 PRN   DFND 1 0 0 3,149
ISHARES TR GLOB HLTHCRE ETF 464287325 928 9,317 SH   DFND 1 0 0 9,317
ISHARES TR GLOBAL FINLS ETF 464287333 2,484 44,000 SH   DFND 1 0 0 44,000
ISHARES TR GLOBAL ENERG ETF 464287341 599 16,100 SH   DFND 1 0 0 16,100
ISHARES TR 1-3 YR TR BD ETF 464287457 6,121 72,480 PRN   DFND 1 0 0 72,480
ISHARES TR NASDQ BIOTEC ETF 464287556 601 1,982 SH   DFND 1 0 0 1,982
ISHARES TR GLOBAL 100 ETF 464287572 326 4,278 SH   DFND 1 0 0 4,278
ISHARES TR RUS 1000 GRW ETF 464287614 1,221 12,770 SH   DFND 1 0 0 12,770
ISHARES TR RUS 1000 ETF 464287622 429 3,740 SH   DFND 1 0 0 3,740
ISHARES TR US HLTHCARE ETF 464287762 1,086 7,537 SH   DFND 1 0 0 7,537
ISHARES TR EUROPE ETF 464287861 642 15,095 SH   DFND 1 0 0 15,095
ISHARES TR CORE HIGH DV ETF 46429B663 5,369 70,150 SH   DFND 1 0 0 70,150
ISHARES TR USA MIN VOL ETF 46429B697 217 5,360 SH   DFND 1 0 0 5,360
ISHARES TR 0-5 YR TIPS ETF 46429B747 2,364 23,870 PRN   DFND 1 0 0 23,870
ISHARES TRUST DISCRET SECT INDEX FD GLB CNS DISC ETF 464288745 1,218 14,300 SH   DFND   14,300 0 0
ISHARES US FINANCIAL SERVICES -ETF U.S. FIN SVC ETF 464287770 6,937 75,540 SH   DFND   75,540 0 0
ISHS TRUST RUSSELL MIDCAP IND FD RUS MID-CAP ETF 464287499 1,184 7,090 SH   DFND   7,090 0 0
JPMORGAN CHASE & CO COM 46625H100 1,565 25,006 SH   DFND 1 0 0 25,006
JPMORGAN CHASE & CO -SHS COM 46625H100 937 14,970 SH   DFND   14,970 0 0
LAS VEGAS SANDS CORP COM 517834107 2,387 41,035 SH   DFND 1 0 0 41,035
LINKEDIN CORP COM CL A 53578A108 1,369 5,960 SH   DFND 1 0 0 5,960
Lumenis Ltd SHS CL B M6778Q121 3,393 363,305 SH   SOLE   363,305 0 0
MASTERCARD INC CL A 57636Q104 334 3,875 SH   DFND 1 0 0 3,875
MCDONALDS CORP COM 580135101 283 3,020 SH   DFND 1 0 0 3,020
MCKESSON CORP -SHS COM 58155Q103 332 1,600 SH   DFND   1,600 0 0
MERCK & CO. INC. -SHS COM 58933Y105 124 2,180 SH   DFND   2,180 0 0
METLIFE INC COM 59156R108 843 15,593 SH   DFND 1 0 0 15,593
MICHAEL KORS HLDGS LTD SHS G60754101 339 4,515 SH   DFND 1 0 0 4,515
MICROSOFT CORP COM 594918104 723 15,563 SH   DFND 1 0 0 15,563
MIND C T I LTD ORD M70240102 271 68,980 SH   DFND 1 0 0 68,980
MYLAN INC COM 628530107 1,642 29,132 SH   DFND 1 0 0 29,132
MYLAN LABORATORIES COM 628530107 1,186 21,036 SH   DFND   21,036 0 0
NOKIA CORP SPONSORED ADR 654902204 1,595 202,910 SH   DFND 1 0 0 202,910
ORBOTECH LTD ORD M75253100 645 43,577 SH   DFND 1 0 0 43,577
PFIZER INC COM 717081103 2,635 84,597 SH   DFND 1 0 0 84,597
PFIZER INC -SHS COM 717081103 563 18,062 SH   DFND   18,062 0 0
PHILIP MORRIS INTL INC COM 718172109 208 2,557 SH   DFND 1 0 0 2,557
PIMCO ETF 0-5 Y HI YI CORP BD IND 0-5 HIGH YIELD 72201R783 366 3,625 SH   DFND   3,625 0 0
PIMCO ETF TR TTL RTN ACTV ETF 72201R775 1,904 17,756 PRN   DFND 1 0 0 17,756
PIMCO ETF TRUST SHRT MTRTY-ETF ENHAN SHRT MA AC 72201R833 638 6,310 SH   DFND   6,310 0 0
PIMCO ETF TRUST TOTAL RETURN -FD TTL RTN ACTV ETF 72201R775 522 4,870 SH   DFND   4,870 0 0
PLURISTEM THERAPEUTICS INC COM 72940R102 215 85,805 SH   DFND 1 0 0 85,805
POLYMET MINING CORP COM 731916102 15 14,000 SH   DFND 1 0 0 14,000
POWERSHARES ETF TR II S&P SMCP IT PO 73937B860 692 13,775 SH   DFND 1 0 0 13,775
POWERSHARES ETF TRUST NASD INTNT ETF 73935X146 366 5,458 SH   DFND 1 0 0 5,458
POWERSHARES ETF TRUST DYNA BUYBK ACH 73935X286 621 12,926 SH   DFND 1 0 0 12,926
POWERSHARES ETF TRUST II SENIOR LN PORT 73936Q769 2,159 89,852 PRN   DFND 1 0 0 89,852
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 5,083 49,234 SH   DFND 1 0 0 49,234
POWERSHARES QQQ-ETF UNIT SER 1 73935A104 1,053 10,203 SH   DFND   10,203 0 0
PRICELINE GRP INC COM NEW 741503403 409 359 SH   DFND 1 0 0 359
PROCTER & GAMBLE CO COM 742718109 292 3,207 SH   DFND 1 0 0 3,207
PROSHARES POWERSHS SR LOAN PORT ETF SENIOR LN PORT 73936Q769 459 19,110 SH   DFND   19,110 0 0
QUALCOMM INC COM 747525103 291 3,916 SH   DFND 1 0 0 3,916
SANOFI SPONSORED ADR 80105N105 1,285 28,182 SH   DFND 1 0 0 28,182
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 4,596 67,217 SH   DFND 1 0 0 67,217
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 1,414 29,166 SH   DFND 1 0 0 29,166
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 2,363 32,750 SH   DFND 1 0 0 32,750
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 1,270 16,048 SH   DFND 1 0 0 16,048
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 7,531 304,527 SH   DFND 1 0 0 304,527
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 2,281 40,312 SH   DFND 1 0 0 40,312
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 9,250 223,705 SH   DFND 1 0 0 223,705
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 2,413 51,108 SH   DFND 1 0 0 51,108
Select Sector SPDR TR SBI INT-FINL 81369Y704 11,316 200,000 SH   SOLE   200,000 0 0
Select Sector SPDR TR SBI CONS STPLS 81369Y308 7,758 160,000 SH   SOLE   160,000 0 0
SPDR DOW JONES INDL AVRG ETF UT SER 1 78467X109 372 2,092 SH   DFND 1 0 0 2,092
SPDR GOLD TRUST GOLD SHS 78463V107 335 2,951 SH   DFND 1 0 0 2,951
SPDR INDEX SHS FDS EURO STOXX 50 78463X202 2,851 77,345 SH   DFND 1 0 0 77,345
SPDR INDEX SHS FDS S&P CHINA ETF 78463X400 1,671 20,984 SH   DFND 1 0 0 20,984
SPDR Index SHS FDS EURO STOXX 50 78463X202 7,372 200,000 SH   SOLE   200,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 14,639 71,225 SH   DFND 1 0 0 71,225
SPDR S&P500 ETF TR UNIT 78462F103 9,249 45,000 SH   SOLE   45,000 0 0
SPDR SER TR SHT TRM HGH YLD 78468R408 383 13,237 PRN   DFND 1 0 0 13,237
SPDR SERIES TRUST INTR TRM CORP BD 78464A375 2,463 72,057 PRN   DFND 1 0 0 72,057
SPDR SERIES TRUST BRC HGH YLD BD 78464A417 1,320 34,179 PRN   DFND 1 0 0 34,179
SPDR SERIES TRUST HLTH CR EQUIP 78464A581 478 5,499 SH   DFND 1 0 0 5,499
SPDR SERIES TRUST S&P DIVID ETF 78464A763 390 4,953 SH   DFND 1 0 0 4,953
SPDR SERIES TRUST S&P BK ETF 78464A797 623 18,572 SH   DFND 1 0 0 18,572
SPDR SERIES TRUST S&P HOMEBUILD 78464A888 312 9,145 SH   DFND 1 0 0 9,145
SPDR Series Trust S&P DIVID ETF 78464A763 11,032 140,000 SH   SOLE   140,000 0 0
SPDR TRUST SERIES 1-ETF TR UNIT 78462F103 18,572 90,373 SH   DFND   90,373 0 0
STARBUCKS CORP COM 855244109 206 2,510 SH   DFND 1 0 0 2,510
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 3,417 59,408 SH   DFND 1 0 0 59,408
Tower Semiconductor SHS NEW M87915274 3,161 237,128 SH   SOLE   237,128 0 0
TOYOTA MOTOR CORP SP ADR REP2COM 892331307 204 1,625 SH   DFND 1 0 0 1,625
VANGUARD INDEX FDS REIT ETF 922908553 3,902 48,168 SH   DFND 1 0 0 48,168
Vanguard Index FDS S&P 500 ETF SHS 922908363 18,840 100,000 SH   SOLE   100,000 0 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 396 7,564 SH   DFND 1 0 0 7,564
Vanguard INTL Equity Index F FTSE Europe ETF 922042874 12,578 240,000 SH   SOLE   240,000 0 0
VANGUARD SPECIALIZED PORTFOL DIV APP ETF 921908844 317 3,907 SH   DFND 1 0 0 3,907
Vanguard World FDS INDUSTRIALS ETF 92204A603 6,943 65,000 SH   SOLE   65,000 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 911 19,478 SH   DFND 1 0 0 19,478
VERIZON COMMUNICATIONS INC -SHS COM 92343V104 274 5,860 SH   DFND   5,860 0 0
VISA INC COM CL A 92826C839 2,569 9,799 SH   DFND 1 0 0 9,799
VMWARE INC CL A COM 928563402 1,429 17,320 SH   DFND 1 0 0 17,320
VODAFONE GROUP PLC NEW SPNSR ADR NO PAR 92857W308 405 11,865 SH   DFND 1 0 0 11,865
Whirlpool Corp COM 963320106 19,374 100,000 SH   SOLE   100,000 0 0
WISDOMTREE EM MRK CORBD -ETF WSDM EMKTBD FD 97717X784 178 2,470 SH   DFND   2,470 0 0
WISDOMTREE JAP HEDG EQ FD -ETF JAPN HEDGE EQT 97717W851 4,013 81,520 SH   DFND   81,520 0 0
WISDOMTREE TR DIV EX-FINL FD 97717W406 426 5,554 SH   DFND 1 0 0 5,554
WISDOMTREE TR MIDCAP DIVI FD 97717W505 340 4,065 SH   DFND 1 0 0 4,065
WISDOMTREE TR SMLCAP EARN FD 97717W562 788 9,526 SH   DFND 1 0 0 9,526
WISDOMTREE TR JAPN HEDGE EQT 97717W851 5,067 102,915 SH   DFND 1 0 0 102,915
WISDOMTREE TR EUROPE SMCP DV 97717W869 486 9,440 SH   DFND 1 0 0 9,440
WISDOMTREE TR EUROPE HEDGED EQ 97717X701 2,104 37,824 SH   DFND 1 0 0 37,824
YAHOO INC COM 984332106 1,177 23,295 SH   DFND 1 0 0 23,295
ZOETIS INC CL A 98978V103 2,407 55,945 SH   DFND 1 0 0 55,945