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 Bancshrs Inc	COM	31943X102	199	18,150	SH		SOLE		0	0	18,150
3M Co	COM	88579Y101	2,716	16,301	SH		SOLE		0	0	16,301
ABB Ltd	ADR	000375204	2,018	103,924	SH		SOLE		0	0	103,924
Aecom Technology	COM	00766T100	216	7,000	SH		DFND		7,000	0	0
Aetna Inc	COM	00817Y108	1,153	10,260	SH		SOLE		0	0	10,260
Agco Corp	COM	001084102	249	5,000	SH		DFND		5,000	0	0
Allstate Corp	COM	020002101	1,747	25,927	SH		SOLE		0	0	25,927
American Tower-A	COM	03027X100	256	2,500	SH		DFND		2,500	0	0
Amgen Inc	COM	031162100	2,729	18,202	SH		SOLE		0	0	18,202
Analog Devices Inc	ADR	032654105	276	4,655	SH		SOLE		0	0	4,655
Apple Inc	COM	037833100	215	1,976	SH		SOLE		0	0	1,976
Artesian Resource Corp	COM	043113208	2,081	74,444	SH		SOLE		0	0	74,444
Avalonbay Commun	COM	053484101	256	1,347	SH		DFND		1,347	0	0
Bank of America Corporation	COM	060505104	243	17,988	SH		SOLE		0	0	17,988
Big 5 Sporting Goods Corp	COM	08915P101	444	40,000	SH		DFND		40,000	0	0
BlackRock Intern l Grth & Inc Common	COM	092524107	1,862	314,530	SH		SOLE		0	0	314,530
BlackRock MuniYield Qty III	COM	09254E103	1,229	81,498	SH		SOLE		0	0	81,498
BOK Financial Corp	COM	05561Q201	205	3,751	SH		SOLE		0	0	3,751
Boston Propertie	COM	101121101	318	2,500	SH		DFND		2,500	0	0
Bp Plc-Adr	ADR	055622104	238	7,883	SH		DFND		7,883	0	0
Bunge Ltd	COM	G16962105	1,219	21,510	SH		SOLE		0	0	21,510
Cal-Maine Foods	COM	128030202	301	5,800	SH		DFND		5,800	0	0
Calpine Corp	COM	131347304	303	20,000	SH		DFND		20,000	0	0
Cemex Sab-Sp Adr	ADR	151290889	194	26,605	SH		DFND		26,605	0	0
Chase Corp	COM	16150R104	4,694	89,254	SH		SOLE		0	0	89,254
Cimarex Energy Co	COM	171798101	2,691	27,661	SH		SOLE		0	0	27,661
Coca-Cola Co	COM	191216100	352	7,588	SH		SOLE		0	0	7,588
Compania Cervecerias -Adr	ADR	204429104	323	14,401	SH		DFND		14,401	0	0
Conmed Corporation	COM	207410101	210	5,000	SH		DFND		5,000	0	0
Consumer Discret Sel Sect SPDR® ETF	COM	81369Y407	3,454	43,667	SH		SOLE		0	0	43,667
Consumer Staples Select Sector SPDR® ETF	COM	81369Y308	4,485	84,530	SH		SOLE		0	0	84,530
Danaos Corp	COM	Y1968P105	57	15,000	SH		DFND		15,000	0	0
Dentsply Sirona Inc	COM	24906P109	370	6,000	SH		DFND		6,000	0	0
Diageo Plc-Adr	ADR	25243Q205	302	2,800	SH		DFND		2,800	0	0
Energy Select Sector SPDR® ETF	COM	81369Y506	2,881	46,545	SH		SOLE		0	0	46,545
Enterprise Products Partners LP	COM	293792107	2,109	85,669	SH		SOLE		0	0	85,669
Essex Property	COM	297178105	210	900	SH		DFND		900	0	0
Everest Re Group Ltd	COM	G3223R108	2,468	12,499	SH		SOLE		0	0	12,499
Extra Space Stor	COM	30225T102	477	5,100	SH		DFND		5,100	0	0
Exxon Mobil Corporation	COM	30231G102	3,063	36,643	SH		SOLE		0	0	36,643
First Financial Bankshares Inc	COM	32020R109	204	6,900	SH		SOLE		0	0	6,900
Ford Motor Co	COM	345370860	1,349	99,948	SH		SOLE		0	0	99,948
Gafisa Sa-Adr	ADR	362607301	17	12,000	SH		DFND		12,000	0	0
Georgetown Bancorp, Inc.	ADR	372591107	200	10,002	SH		DFND		10,002	0	0
Glaxosmithkl-Adr	ADR	37733W105	223	5,500	SH		DFND		5,500	0	0
Global X Msci Nigeria Etf	COM	37950E424	87	14,200	SH		DFND		14,200	0	0
Grupo Televisa - Adr	ADR	40049J206	412	15,000	SH		DFND		15,000	0	0
Guggenheim BulletShrs®2018 Corp Bd ETF	COM	18383M530	589	27,869	SH		SOLE		0	0	27,869
Guggenheim BulletShrs®2018 HY CorpBd ETF	COM	18383M381	4,432	183,663	SH		SOLE		0	0	183,663
Guggenheim BulletShrs®2019 Corp Bd ETF	COM	18383M522	588	27,701	SH		SOLE		0	0	27,701
Guggenheim BulletShrs®2020 Corp Bd ETF	COM	18383M514	525	24,525	SH		SOLE		0	0	24,525
Guggenheim BulletShrs®2021 Corp Bd ETF	COM	18383M266	558	26,443	SH		SOLE		0	0	26,443
Guggenheim S&P 500® Eq Weight HC ETF	COM	78355W841	3,213	22,262	SH		SOLE		0	0	22,262
Guggenheim S&P 500® Equal Weight ETF	COM	78355W106	3,625	46,159	SH		SOLE		0	0	46,159
Hdfc Bank Ltd - Adr	ADR	40415F101	247	4,000	SH		DFND		4,000	0	0
Ingles Markets Inc	COM	457030104	3,567	95,109	SH		SOLE		0	0	95,109
Intercontinental Hotels	ADR	45857P509	223	5,414	SH		DFND		5,414	0	0
Intercontinental Hotels	ADR	45857P509	356	8,615	SH		DFND		8,615	0	0
Invesco Muni Opps. Trust Common	COM	46132C107	1,211	86,755	SH		SOLE		0	0	86,755
iShares Cali AMT-Free Muni Bond	COM	464288356	521	4,364	SH		SOLE		0	0	4,364
iShares Cohen & Steers REIT	COM	464287564	3,273	31,729	SH		SOLE		0	0	31,729
iShares Core S&P Mid-Cap	COM	464287507	2,866	19,880	SH		SOLE		0	0	19,880
iShares Core US Aggregate Bond	COM	464287226	461	4,159	SH		SOLE		0	0	4,159
iShares Floating Rate Bond	COM	46429B655	4,907	97,321	SH		SOLE		0	0	97,321
iShares Global Healthcare	COM	464287325	3,025	31,411	SH		SOLE		0	0	31,411
iShares iBoxx $ Invst Grade Crp Bond	COM	464287242	293	2,463	SH		SOLE		0	0	2,463
iShares MBS	COM	464288588	312	2,848	SH		SOLE		0	0	2,848
iShares MSCI EAFE	COM	464287465	8,471	148,196	SH		SOLE		0	0	148,196
iShares MSCI EAFE Small-Cap	COM	464288273	2,769	55,609	SH		SOLE		0	0	55,609
iShares MSCI EMU	COM	464286608	1,724	50,145	SH		SOLE		0	0	50,145
iShares National AMT-Free Muni Bond	COM	464288414	1,286	11,517	SH		SOLE		0	0	11,517
iShares Russell 1000	COM	464287622	1,085	9,510	SH		SOLE		0	0	9,510
iShares Russell 2000	COM	464287655	1,040	9,405	SH		SOLE		0	0	9,405
iShares Russell Mid-Cap	COM	464287499	1,083	6,649	SH		SOLE		0	0	6,649
iShares Select Dividend	COM	464287168	3,450	42,238	SH		SOLE		0	0	42,238
J.C. Penney Co	COM	708160106	216	19,500	SH		DFND		19,500	0	0
James Hardie Ind Plc Adr	ADR	47030M106	341	25,000	SH		DFND		25,000	0	0
JH Financial Opportunities Common	COM	409735206	2,878	118,420	SH		SOLE		0	0	118,420
Johnson & Johnson	COM	478160104	2,624	24,251	SH		SOLE		0	0	24,251
Kvh Industries	ADR	482738101	287	30,000	SH		DFND		30,000	0	0
Lannett Co Inc	COM	516012101	215	12,000	SH		DFND		12,000	0	0
Lasalle Hotel Properties	COM	517942108	243	9,600	SH		DFND		9,600	0	0
Lennox Intl Inc	COM	526107107	230	1,700	SH		DFND		1,700	0	0
Lifepoint Hospit	COM	53219L109	346	5,000	SH		DFND		5,000	0	0
Lloyds Banking Group Plc	COM	539439109	83	21,000	SH		DFND		21,000	0	0
Lowe s Companies Inc	COM	548661107	2,994	39,519	SH		SOLE		0	0	39,519
Luby'S Inc	COM	549282101	160	32,994	SH		DFND		32,994	0	0
Maiden Holdings Ltd	COM	G5753U112	259	20,000	SH		DFND		20,000	0	0
Market Vectors Africa	COM	57060U787	198	10,340	SH		DFND		10,340	0	0
Marriott International	COM	571903202	358	5,035	SH		DFND		5,035	0	0
Martin Mar Mtls	COM	573284106	228	1,430	SH		DFND		1,430	0	0
MetLife Inc	COM	59156R108	1,722	39,183	SH		SOLE		0	0	39,183
Miller Ind Inc/Tenn	COM	600551204	264	13,000	SH		DFND		13,000	0	0
National Western Life Insurance	COM	638517102	2,210	9,583	SH		SOLE		0	0	9,583
Netapp Inc	COM	64110D104	246	9,000	SH		DFND		9,000	0	0
Nice Systems-Adr	ADR	653656108	356	5,500	SH		DFND		5,500	0	0
Norfolk Southern	COM	655844108	291	3,500	SH		DFND		3,500	0	0
Northwest Nat Gs	COM	667655104	377	7,000	SH		DFND		7,000	0	0
NorthWestern Corp	COM	668074305	2,546	41,226	SH		SOLE		0	0	41,226
Novartis AG	ADR	66987V109	2,014	27,802	SH		SOLE		0	0	27,802
Novatel Wireless Inc	COM	66987M604	21	12,000	SH		SOLE		0	0	12,000
Nuveen Intermediate Duration Muni Term	COM	670671106	1,621	121,662	SH		SOLE		0	0	121,662
PIMCO Enhanced Short Maturity ETF	COM	72201R833	5,187	51,471	SH		SOLE		0	0	51,471
PowerShares Global Water ETF	COM	73936T623	2,683	127,570	SH		SOLE		0	0	127,570
Procter & Gamble	COM	742718109	288	3,500	SH		DFND		3,500	0	0
Pub Serv Enterp	COM	744573106	377	8,000	SH		DFND		8,000	0	0
Qualcomm Inc	COM	747525103	238	4,652	SH		SOLE		0	0	4,652
Regions Financial Corp	COM	7591EP100	141	18,000	SH		DFND		18,000	0	0
RGC Resources	COM	74955L103	530	24,510	SH		SOLE		0	0	24,510
Royce Micro Cap Trust Common	COM	780915104	1,949	278,429	SH		SOLE		0	0	278,429
Royce Value Trust Common	COM	780910105	2,780	237,441	SH		SOLE		0	0	237,441
Sba Communications Corp	ADR	78388J106	200	2,000	SH		DFND		2,000	0	0
Schwab International Equity ETF™	COM	808524805	340	12,530	SH		SOLE		0	0	12,530
Schwab US Aggregate Bond ETF™	COM	808524839	644	12,191	SH		SOLE		0	0	12,191
Schwab US Mid-Cap ETF™	COM	808524508	424	10,434	SH		SOLE		0	0	10,434
Schwab US Small-Cap ETF™	COM	808524607	413	7,945	SH		SOLE		0	0	7,945
Sk Telecom-Adr	ADR	78440P108	252	12,500	SH		DFND		12,500	0	0
Sl Green Realty	COM	78440X101	291	3,000	SH		DFND		3,000	0	0
Southern Co	COM	842587107	2,656	51,336	SH		SOLE		0	0	51,336
SPDR® Barclays Short Term Corp Bd ETF	COM	78464A474	5,240	171,068	SH		SOLE		0	0	171,068
SPDR® Morgan Stanley Technology ETF	COM	78464A102	2,869	54,442	SH		SOLE		0	0	54,442
SPDR® S&P 500 ETF	COM	78462F103	304	1,480	SH		SOLE		0	0	1,480
SPDR® S&P MidCap 400 ETF	COM	78467Y107	374	1,423	SH		SOLE		0	0	1,423
Stryker Corporation	COM	863667101	2,398	22,348	SH		SOLE		0	0	22,348
Thermo Fisher	COM	883556102	212	1,500	SH		DFND		1,500	0	0
Twenty-First Century Fox Inc	COM	90130A101	298	10,674	SH		SOLE		0	0	10,674
UDR Inc	COM	902653104	383	9,951	SH		SOLE		0	0	9,951
Unilever Nv-Nys	COM	904784709	402	9,000	SH		DFND		9,000	0	0
United Therapeut	COM	91307C102	223	2,000	SH		DFND		2,000	0	0
Valmont Industries Inc	COM	920253101	2,501	20,194	SH		SOLE		0	0	20,194
Vanguard Energy ETF	COM	92204A306	250	2,918	SH		SOLE		0	0	2,918
Vanguard FTSE Emerging Markets ETF	COM	922042858	404	11,670	SH		SOLE		0	0	11,670
Vanguard FTSE Europe ETF	COM	922042874	1,910	39,360	SH		SOLE		0	0	39,360
Vanguard Information Technology ETF	COM	92204A702	2,764	25,233	SH		SOLE		0	0	25,233
Vanguard S&P 500 ETF	COM	922908363	285	1,514	SH		SOLE		0	0	1,514
Vanguard Total Bond Market ETF	COM	921937835	397	4,790	SH		SOLE		0	0	4,790
Verizon Communic	COM	92343V104	274	32,594	SH		DFND		32,594	0	0
Verizon Communications Inc	COM	92343V104	1,763	32,594	SH		SOLE		0	0	32,594
Vodafone Grp-Adr	ADR	92857W308	298	9,295	SH		DFND		9,295	0	0
Voya Asia Pacific High Dividend Eq Inc	COM	92912J102	1,496	161,861	SH		SOLE		0	0	161,861
Wells Fargo & Co	COM	949746101	290	6,000	SH		DFND		6,000	0	0
Western Asset Glb Corp Def Opp Common	COM	95790C107	4,079	247,360	SH		SOLE		0	0	247,360
Western Asset High Income Opp	COM	95766K109	3,888	829,010	SH		SOLE		0	0	829,010
WGL Holdings Inc	COM	92924F106	3,483	48,134	SH		SOLE		0	0	48,134
Williams Companies Inc	COM	969457100	1,305	81,233	SH		SOLE		0	0	81,233
Wp Carey Inc	COM	92936U109	311	5,000	SH		DFND		5,000	0	0
Wpx Energy Inc	COM	98212B103	160	22,944	SH		SOLE		0	0	22,944