Fca 13F-HR Quarterly holdings report by institutional manager

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

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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
1ST CENTURY BANCSHARES INC	COM	31943X102	171	25,000	SH		SOLE		0	0	25,000
3M CO	COM	88579Y101	2,058	12,474	SH		SOLE		0	0	12,474
ABB LTD-SPON ADR	COM	000375204	1,269	59,938	SH		SOLE		0	0	59,938
AECOM	COM	00766T100	247	8,000	SH		DFND		8,000	0	0
AGCO CORP	COM	001084102	238	5,000	SH		DFND		5,000	0	0
AMERICAN TOWER CORP	COM	03027X100	235	2,500	SH		DFND		2,500	0	0
AMGEN INC	COM	031162100	2,717	17,000	SH		SOLE		0	0	17,000
ANALOG DEVICES INC	ADR	032654105	2,031	32,235	SH		SOLE		0	0	32,235
ARTESIAN RESOURCES CORP-CL A	COM	043113208	1,268	59,258	SH		SOLE		0	0	59,258
AVALONBAY COMMUNITIES INC	COM	053484101	235	1,347	SH		DFND		1,347	0	0
BANCO SANTANDER SA-SPON ADR	ADR	05964H105	266	35,642	SH		DFND		35,642	0	0
BHP BILLITON LTD-SPON ADR	COM	088606108	1,261	27,138	SH		SOLE		0	0	27,138
BIG 5 SPORTING GOODS CORP	COM	08915P101	318	24,000	SH		DFND		24,000	0	0
BLACKROCK INTERNATIONAL GROW	COM	092524107	1,519	214,289	SH		SOLE		0	0	214,289
BOK FINANCIAL CORPORATION	COM	05561Q201	230	3,751	SH		SOLE		0	0	3,751
BOSTON PROPERTIES INC	COM	101121101	351	2,500	SH		DFND		2,500	0	0
CALPINE CORP	COM	131347304	343	15,000	SH		DFND		15,000	0	0
CAMPUS CREST COMMUNITIES INC	COM	13466Y105	79	11,000	SH		DFND		11,000	0	0
CEMEX SAB-SPONS ADR PART CER	ADR	151290889	242	25,582	SH		DFND		25,582	0	0
CHASE CORP	COM	16150R104	2,550	58,310	SH		SOLE		0	0	58,310
CIA CERVECERIAS UNI-SPON ADR	ADR	204429104	403	19,401	SH		DFND		19,401	0	0
CIMAREX ENERGY CO	COM	171798101	3,042	26,428	SH		SOLE		0	0	26,428
CONMED CORP	COM	207410101	642	12,720	SH		DFND		12,720	0	0
CONSUMER DISCRETIONARY SELT	COM	81369Y407	3,384	44,910	SH		SOLE		0	0	44,910
CONSUMER STAPLES SPDR	ADR	81369Y308	4,801	98,498	SH		SOLE		0	0	98,498
CSI COMPRESSCO LP	COM	12637A103	1,393	72,417	SH		SOLE		0	0	72,417
DENTSPLY INTERNATIONAL INC	COM	249030107	443	8,700	SH		DFND		8,700	0	0
DIAGEO PLC-SPONSORED ADR	ADR	25243Q205	221	2,000	SH		DFND		2,000	0	0
EATON VANCE SHORT DUR DIV IN	COM	27828V104	3,140	216,725	SH		SOLE		0	0	216,725
ENCANA CORP	ADR	292505104	112	10,000	SH		DFND		10,000	0	0
ENERGY SELECT SECTOR SPDR	COM	81369Y506	3,045	39,254	SH		SOLE		0	0	39,254
ENTERPRISE PRODUCTS PARTNERS	COM	293792107	2,459	74,674	SH		SOLE		0	0	74,674
EQUITY RESIDENTIAL	COM	29476L107	249	3,200	SH		DFND		3,200	0	0
ESSEX PROPERTY TRUST INC	COM	297178105	207	900	SH		DFND		900	0	0
EVEREST RE GROUP LTD	COM	G3223R108	2,938	16,886	SH		SOLE		0	0	16,886
EXTRA SPACE STORAGE INC	COM	30225T102	432	6,400	SH		DFND		6,400	0	0
EXXON MOBIL CORP	COM	30231G102	2,633	30,971	SH		SOLE		0	0	30,971
FIRST FINL BANKSHARES INC	COM	32020R109	264	9,500	SH		SOLE		0	0	9,500
GAFISA SA-ADR	ADR	362607301	16	12,000	SH		DFND		12,000	0	0
GLOBAL POWER EQUIPMENT GROUP	COM	37941P306	198	15,001	SH		DFND		15,001	0	0
GOODRICH PETROLEUM CORP	COM	382410405	107	30,000	SH		DFND		30,000	0	0
GRUPO TELEVISA SA-SPON ADR	ADR	40049J206	495	15,000	SH		DFND		15,000	0	0
GUGGENHEIM BULLETSHARES 2018	COM	18383M381	3,368	129,803	SH		SOLE		0	0	129,803
GUGGENHEIM BULLETSHARES 2018	COM	18383M530	634	29,720	SH		SOLE		0	0	29,720
GUGGENHEIM BULLETSHARES 2020	COM	18383M514	521	24,214	SH		SOLE		0	0	24,214
GUGGENHEIM S&P 500 EQUAL WEI	COM	78355W106	3,842	47,404	SH		SOLE		0	0	47,404
GUGGENHEIM S&P 500 EQUAL WEI	COM	78355W841	3,713	23,919	SH		SOLE		0	0	23,919
HDFC BANK LTD-ADR	ADR	40415F101	353	6,000	SH		DFND		6,000	0	0
HOST HOTELS & RESORTS INC	COM	44107P104	309	15,317	SH		DFND		15,317	0	0
HUNTINGTON BANCSHARES INC	COM	446150104	221	20,000	SH		DFND		20,000	0	0
INGLES MARKETS INC-CLASS A	COM	457030104	5,304	107,190	SH		SOLE		0	0	107,190
INTEL CORP	COM	458140100	345	11,023	SH		SOLE		0	0	11,023
INTERCONTINENTAL HOTELS-ADR	ADR	45857P509	337	8,615	SH		DFND		8,615	0	0
INTERCONTINENTAL HOTELS-ADR	ADR	45857P509	212	5,414	SH		DFND		5,414	0	0
IRSA PROPIEDADES COMERCIALES	ADR	463588103	342	11,500	SH		DFND		11,500	0	0
ISHARES -3 YEAR INTERNATIONA	COM	464288125	2,597	33,250	SH		SOLE		0	0	33,250
ISHARES CALIFORNIA AMT-FREE	COM	464288356	385	3,260	SH		SOLE		0	0	3,260
ISHARES COHEN & STEERS REIT	COM	464287564	2,730	26,993	SH		SOLE		0	0	26,993
ISHARES CORE S&P MIDCAP ETF	COM	464287507	2,084	13,713	SH		SOLE		0	0	13,713
ISHARES CORE U.S. AGGREGATE	COM	464287226	257	2,307	SH		SOLE		0	0	2,307
ISHARES FLOATING RATE BOND E	COM	46429B655	4,802	94,826	SH		SOLE		0	0	94,826
ISHARES GLOBAL HEALTHCARE ET	COM	464287325	3,883	36,013	SH		SOLE		0	0	36,013
ISHARES IBOXX INVESTMENT GRA	COM	464287242	300	2,468	SH		SOLE		0	0	2,468
ISHARES INTERNATIONAL TREASU	COM	464288117	3,595	39,279	SH		SOLE		0	0	39,279
ISHARES MBS ETF	COM	464288588	203	1,839	SH		SOLE		0	0	1,839
ISHARES MSCI ALL COUNTRY ASI	COM	464288182	256	4,000	SH		DFND		4,000	0	0
ISHARES MSCI EAFE ETF	COM	464287465	6,906	107,625	SH		SOLE		0	0	107,625
ISHARES MSCI EAFE SMALL-CAP	COM	464288273	2,475	50,034	SH		SOLE		0	0	50,034
ISHARES MSCI EMERGING MARKET	COM	464287234	2,939	73,234	SH		SOLE		0	0	73,234
ISHARES MSCI EMU ETF	COM	464286608	774	20,072	SH		SOLE		0	0	20,072
ISHARES MSCI JAPAN ETF	COM	464286848	251	20,000	SH		DFND		20,000	0	0
ISHARES MSCI SOUTH AFRICA ET	COM	464286780	248	3,700	SH		DFND		3,700	0	0
ISHARES NATIONAL AMT-FREE MU	COM	464288414	844	7,630	SH		SOLE		0	0	7,630
ISHARES RUSSELL 1000 ETF	COM	464287622	1,179	10,176	SH		SOLE		0	0	10,176
ISHARES RUSSELL 2000 ETF	COM	464287655	1,196	9,617	SH		SOLE		0	0	9,617
ISHARES RUSSELL MID-CAP ETF	COM	464287499	1,266	7,314	SH		SOLE		0	0	7,314
ISHARES SELECT DIVIDEND ETF	COM	464287168	3,150	40,411	SH		SOLE		0	0	40,411
J.C. PENNEY CO INC	COM	708160106	185	22,000	SH		DFND		22,000	0	0
JAMES HARDIE IND PLC-SP ADR	ADR	47030M106	289	5,000	SH		DFND		5,000	0	0
JOHN HANCOCK FINANCIAL OPPOR	COM	409735206	2,679	114,496	SH		SOLE		0	0	114,496
JOHNSON & JOHNSON	COM	478160104	2,763	27,462	SH		SOLE		0	0	27,462
JOHNSON CONTROLS INC	COM	478366107	303	6,000	SH		DFND		6,000	0	0
KVH INDUSTRIES INC	ADR	482738101	454	30,000	SH		DFND		30,000	0	0
LASALLE HOTEL PROPERTIES	COM	517942108	427	11,000	SH		DFND		11,000	0	0
LIFEPOINT HOSPITALS INC	COM	53219L109	331	4,500	SH		DFND		4,500	0	0
LLOYDS BANKING GROUP PLC-ADR	ADR	539439109	98	21,000	SH		DFND		21,000	0	0
LOWE'S COS INC	COM	548661107	3,172	42,636	SH		SOLE		0	0	42,636
MARKET VECTORS AFRICA INDEX	COM	57060U787	259	10,340	SH		DFND		10,340	0	0
MARRIOTT INTERNATIONAL -CL A	CL A	571903202	404	5,035	SH		DFND		5,035	0	0
METLIFE INC	COM	59156R108	2,353	46,549	SH		SOLE		0	0	46,549
MILLER INDUSTRIES INC/TENN	COM	600551204	245	10,000	SH		DFND		10,000	0	0
MOMENTA PHARMACEUTICALS INC	COM	60877T100	304	20,000	SH		DFND		20,000	0	0
NATIONAL OILWELL VARCO INC	COM	637071101	300	6,000	SH		DFND		6,000	0	0
NATL WESTERN LIFE INS-CL A	COM	638522102	1,687	6,633	SH		SOLE		0	0	6,633
NEW YORK COMMUNITY BANCORP	COM	649445103	167	10,000	SH		DFND		10,000	0	0
NICE SYSTEMS LTD-SPONS ADR	ADR	653656108	427	7,000	SH		DFND		7,000	0	0
NIDEC CORPORATION-SPON ADR	ADR	654090109	334	20,000	SH		DFND		20,000	0	0
NORFOLK SOUTHERN CORP	COM	655844108	412	4,000	SH		DFND		4,000	0	0
NORTHWEST NATURAL GAS CO	COM	667655104	240	5,000	SH		DFND		5,000	0	0
NORTHWESTERN CORP	COM	668074305	1,906	35,440	SH		SOLE		0	0	35,440
NOVARTIS AG-SPONSORED ADR	ADR	66987V109	2,447	24,819	SH		SOLE		0	0	24,819
PEBBLEBROOK HOTEL TRUST	COM	70509V100	233	5,000	SH		DFND		5,000	0	0
PENTAIR PLC	COM	G7S00T104	488	7,760	SH		DFND		7,760	0	0
PIMCO ENHANCED SHORT MATURIT	COM	72201R833	5,286	52,230	SH		SOLE		0	0	52,230
PIONEER NATURAL RESOURCES CO	COM	723787107	327	2,000	SH		DFND		2,000	0	0
POSCO- SPON ADR	ADR	693483109	262	4,800	SH		DFND		4,800	0	0
POWERSHARES GLOBAL WATER	COM	73936T623	3,177	137,839	SH		SOLE		0	0	137,839
REGIONS FINANCIAL CORP	COM	7591EP100	170	18,000	SH		DFND		18,000	0	0
RGC RESOURCES INC	COM	74955L103	531	26,284	SH		SOLE		0	0	26,284
ROYCE MICRO-CAP TRUST INC	COM	780915104	1,519	155,162	SH		SOLE		0	0	155,162
ROYCE VALUE TRUST	COM	780910105	3,303	230,666	SH		SOLE		0	0	230,666
SBA COMMUNICATIONS CORP-CL A	ADR	78388J106	234	2,000	SH		DFND		2,000	0	0
SCHWAB INTL EQUITY ETF	COM	808524805	206	6,801	SH		SOLE		0	0	6,801
SCHWAB US AGGREGATE BOND ETF	COM	808524839	422	7,972	SH		SOLE		0	0	7,972
SCHWAB US MID CAP ETF	COM	808524508	287	6,654	SH		SOLE		0	0	6,654
SCHWAB US SMALL-CAP ETF	COM	808524607	272	4,724	SH		SOLE		0	0	4,724
SL GREEN REALTY CORP	COM	78440X101	385	3,000	SH		DFND		3,000	0	0
SOUTHERN CO/THE	COM	842587107	1,543	34,848	SH		SOLE		0	0	34,848
SPDR BARCLAYS SHORT TERM COR	COM	78464A474	5,104	165,991	SH		SOLE		0	0	165,991
SPDR MORGAN STANLEY TECHNOLO	COM	78464A102	2,601	25,924	SH		SOLE		0	0	25,924
SPDR S&P EMERGING MARKETS DI	COM	78463X533	1,892	56,709	SH		SOLE		0	0	56,709
SPDR S&P MIDCAP 400 ETF TRST	COM	78467Y107	395	1,423	SH		SOLE		0	0	1,423
SPDR S&P OIL & GAS EXP & PR	COM	78464A730	2,329	45,082	SH		SOLE		0	0	45,082
STRYKER CORP	COM	863667101	1,644	17,759	SH		SOLE		0	0	17,759
UDR INC	COM	902653104	339	9,951	SH		SOLE		0	0	9,951
ULTRA PETROLEUM CORP	COM	903914109	156	10,000	SH		DFND		10,000	0	0
UNILEVER N V -NY SHARES	COM	904784709	376	9,000	SH		DFND		9,000	0	0
VALE SA-SP ADR	ADR	91912E105	124	22,000	SH		DFND		22,000	0	0
VALMONT INDUSTRIES	COM	920253101	2,173	17,632	SH		SOLE		0	0	17,632
VANGUARD FTSE EUROPE ETF	COM	922042874	1,698	31,314	SH		SOLE		0	0	31,314
VANGUARD INFO TECH ETF	COM	92204A702	2,145	20,136	SH		SOLE		0	0	20,136
VENTAS INC	COM	92276F100	201	2,750	SH		DFND		2,750	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	334	6,874	SH		SOLE		0	0	6,874
VODAFONE GROUP PLC-SP ADR	ADR	92857W308	206	6,295	SH		DFND		6,295	0	0
VOYA ASIA PACIFIC HIGH DIVID	COM	92912J102	1,183	102,189	SH		SOLE		0	0	102,189
WELLS FARGO & CO	COM	949746101	218	4,000	SH		DFND		4,000	0	0
WESTERN ASSET GL CORP DEF OP	COM	95790C107	3,743	211,568	SH		SOLE		0	0	211,568
WGL HOLDINGS INC	COM	92924F106	2,438	43,235	SH		SOLE		0	0	43,235
WILLIAMS COS INC	COM	969457100	4,110	81,233	SH		SOLE		0	0	81,233
WP CAREY INC	COM	92936U109	340	5,000	SH		DFND		5,000	0	0
WPX ENERGY INC	COM	98212B103	251	22,944	SH		SOLE		0	0	22,944