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
3M Co	COM	88579Y101	2,956	16,772	SH		SOLE		0	0	16,772
Aecom Technology	COM	00766T100	253	8,500	SH		DFND		8,500	0	0
Aetna Inc	COM	00817Y108	1,355	11,740	SH		SOLE		0	0	11,740
Alexandria Real	COM	015271109	201	1,850	SH		DFND		1,850	0	0
Allstate Corp	COM	020002101	1,723	24,901	SH		SOLE		0	0	24,901
American Tower-A	COM	03027X100	283	2,500	SH		DFND		2,500	0	0
Amgen Inc	COM	031162100	2,912	17,460	SH		SOLE		0	0	17,460
Annaly Capital Management	COM	35710409	142	13,500	SH		DFND		13,500	0	0
Artesian Resource Corp	COM	043113208	2,213	77,524	SH		SOLE		0	0	77,524
Avalonbay Commun	COM	053484101	240	1,347	SH		DFND		1,347	0	0
Bank Of America Corporation	COM	060505104	282	17,988	SH		SOLE		0	0	17,988
Blackrock Intern L Grth & Inc Common	COM	092524107	2,365	398,810	SH		SOLE		0	0	398,810
Blackrock Muniyield Qty Iii	COM	09254E103	1,179	77,438	SH		SOLE		0	0	77,438
Bok Financial Corp	COM	05561Q201	259	3,751	SH		SOLE		0	0	3,751
Boston Propertie	COM	101121101	341	2,500	SH		DFND		2,500	0	0
Briggs & Strattn	COM	109043109	187	10,000	SH		DFND		10,000	0	0
Calpine Corp	COM	131347304	253	20,000	SH		DFND		20,000	0	0
Cemex Sab-Sp Adr	ADR	151290889	220	27,669	SH		DFND		27,669	0	0
Chase Corp	COM	16150R104	4,297	62,168	SH		SOLE		0	0	62,168
Cimarex Energy Co	COM	171798101	3,964	29,502	SH		SOLE		0	0	29,502
Coca-Cola Co	COM	191216100	350	8,266	SH		SOLE		0	0	8,266
Consumer Discret Sel Sect Spdr Etf	COM	81369Y407	2,990	37,357	SH		SOLE		0	0	37,357
Consumer Staples Select Sector Spdr Etf	COM	81369Y308	3,432	64,490	SH		SOLE		0	0	64,490
Csx Corp	COM	126408103	1,990	65,260	SH		SOLE		0	0	65,260
Cvs Health Corp	COM	126650100	1,071	12,039	SH		SOLE		0	0	12,039
Dentsply Sirona Inc	COM	24906P109	297	5,000	SH		DFND		5,000	0	0
Eastgroup Prop	COM	277276101	221	3,000	SH		DFND		3,000	0	0
Energy Select Sector Spdr Etf	COM	81369Y506	3,027	42,864	SH		SOLE		0	0	42,864
Enterprise Products Partners Lp	COM	293792107	2,065	74,741	SH		SOLE		0	0	74,741
Essex Property	COM	297178105	200	900	SH		DFND		900	0	0
Everest Re Group Ltd	COM	G3223R108	2,470	13,004	SH		SOLE		0	0	13,004
Extra Space Stor	COM	30225T102	405	5,100	SH		DFND		5,100	0	0
Exxon Mobil Corporation	COM	30231G102	2,667	30,555	SH		SOLE		0	0	30,555
Flowers Foods Inc	COM	343498101	1,146	75,775	SH		SOLE		0	0	75,775
Gafisa Sa-Adr	ADR	362607301	19	12,000	SH		DFND		12,000	0	0
Georgetown Bancorp, Inc.	COM	372591107	209	10,002	SH		DFND		10,002	0	0
Global X Msci Nigeria Etf	COM	37950E424	106	22,200	SH		DFND		22,200	0	0
Guggenheim Bulletshrs2018 Corp Bd Etf	COM	18383M530	518	24,300	SH		SOLE		0	0	24,300
Guggenheim Bulletshrs2018 Hy Corpbd Etf	COM	18383M381	4,625	182,747	SH		SOLE		0	0	182,747
Guggenheim Bulletshrs2019 Corp Bd Etf	COM	18383M522	3,633	169,779	SH		SOLE		0	0	169,779
Guggenheim Bulletshrs2020 Corp Bd Etf	COM	18383M514	508	23,383	SH		SOLE		0	0	23,383
Guggenheim Bulletshrs2021 Corp Bd Etf	COM	18383M266	3,584	165,946	SH		SOLE		0	0	165,946
Guggenheim S&P 500 Eq Weight Hc Etf	COM	78355W841	3,410	21,916	SH		SOLE		0	0	21,916
Guggenheim S&P 500 Equal Weight Etf	COM	78355W106	3,472	41,533	SH		SOLE		0	0	41,533
Ingles Markets Inc	COM	457030104	3,594	90,899	SH		SOLE		0	0	90,899
International Business Machines Corp	COM	459200101	209	1,317	SH		SOLE		0	0	1,317
Invesco Muni Opps. Trust Common	COM	46132C107	1,230	86,301	SH		SOLE		0	0	86,301
Ishares Cali Amt-Free Muni Bond	COM	464288356	448	3,708	SH		SOLE		0	0	3,708
Ishares Cohen & Steers Reit	COM	464287564	3,117	29,712	SH		SOLE		0	0	29,712
Ishares Core S&P Mid-Cap	COM	464287507	3,184	20,583	SH		SOLE		0	0	20,583
Ishares Core Us Aggregate Bond	COM	464287226	456	4,060	SH		SOLE		0	0	4,060
Ishares Floating Rate Bond	COM	46429B655	4,737	93,338	SH		SOLE		0	0	93,338
Ishares Global Healthcare	COM	464287325	2,737	27,166	SH		SOLE		0	0	27,166
Ishares Iboxx $ Invst Grade Crp Bond	COM	464287242	318	2,585	SH		SOLE		0	0	2,585
Ishares Mbs	COM	464288588	321	2,912	SH		SOLE		0	0	2,912
Ishares Msci Eafe	COM	464287465	4,893	82,741	SH		SOLE		0	0	82,741
Ishares Msci Eafe Small-Cap	COM	464288273	3,013	57,489	SH		SOLE		0	0	57,489
Ishares Msci Emu	COM	464286608	2,304	66,805	SH		SOLE		0	0	66,805
Ishares National Amt-Free Muni Bond	COM	464288414	1,236	10,961	SH		SOLE		0	0	10,961
Ishares Russell 1000	COM	464287622	1,046	8,685	SH		SOLE		0	0	8,685
Ishares Russell 2000	COM	464287655	1,106	8,902	SH		SOLE		0	0	8,902
Ishares Russell Mid-Cap	COM	464287499	1,065	6,109	SH		SOLE		0	0	6,109
Ishares Select Dividend	COM	464287168	3,017	35,211	SH		SOLE		0	0	35,211
James Hardie Ind Plc Adr	ADR	47030M106	393	25,000	SH		DFND		25,000	0	0
Jh Financial Opportunities Common	COM	409735206	2,939	105,883	SH		SOLE		0	0	105,883
Johnson & Johnson	COM	478160104	2,447	20,715	SH		SOLE		0	0	20,715
Kingfisher Plc - Adr	ADR	495724403	196	20,000	SH		DFND		20,000	0	0
Kroger Co	COM	501044101	297	10,000	SH		DFND		10,000	0	0
Kvh Industries	ADR	482738101	264	30,000	SH		DFND		30,000	0	0
Lend Lease Corp Ltd - Adr	ADR	526023205	128	11,900	SH		DFND		11,900	0	0
Lennox Intl Inc	COM	526107107	267	1,700	SH		DFND		1,700	0	0
Lifepoint Hospit	COM	53219L109	296	5,000	SH		DFND		5,000	0	0
Lowe S Companies Inc	COM	548661107	2,854	39,519	SH		SOLE		0	0	39,519
Luby'S Inc	COM	549282101	142	32,994	SH		DFND		32,994	0	0
Market Vectors Africa	COM	92189F866	214	10,340	SH		DFND		10,340	0	0
Marriott International	COM	571903202	339	5,035	SH		DFND		5,035	0	0
Metlife Inc	COM	59156R108	1,538	34,617	SH		SOLE		0	0	34,617
Miller Ind Inc/Tenn	COM	600551204	410	18,000	SH		DFND		18,000	0	0
National Retail	COM	637417106	203	4,000	SH		DFND		4,000	0	0
National Western Life Insurance	COM	638517102	2,163	10,533	SH		SOLE		0	0	10,533
Netapp Inc	COM	64110D104	322	9,000	SH		DFND		9,000	0	0
Nobilis Health Corp.	COM	65500B103	52	15,400	SH		DFND		15,400	0	0
Norfolk Southern	COM	655844108	340	3,500	SH		DFND		3,500	0	0
Northwestern Corp	COM	668074305	2,112	36,713	SH		SOLE		0	0	36,713
Novartis Ag	ADR	66987V109	1,870	23,678	SH		SOLE		0	0	23,678
Novatel Wireless Inc	COM	66987M604	38	12,000	SH		SOLE		0	0	12,000
Nuveen Intermediate Duration Muni Term	COM	670671106	1,617	116,702	SH		SOLE		0	0	116,702
Pimco Enhanced Short Maturity Etf	COM	72201R833	4,821	47,544	SH		SOLE		0	0	47,544
Powershares International Corp Bd Etf	COM	73936Q835	3,695	138,839	SH		SOLE		0	0	138,839
Procter & Gamble	COM	742718109	314	3,500	SH		DFND		3,500	0	0
Pub Serv Enterp	COM	744573106	335	8,000	SH		DFND		8,000	0	0
Qualcomm Inc	COM	747525103	325	4,738	SH		SOLE		0	0	4,738
Regions Financial Corp	COM	7591EP100	178	18,000	SH		DFND		18,000	0	0
Rgc Resources	COM	74955L103	555	23,310	SH		SOLE		0	0	23,310
Royce Micro Cap Trust Common	COM	780915104	2,472	316,563	SH		SOLE		0	0	316,563
Royce Value Trust Common	COM	780910105	3,252	256,885	SH		SOLE		0	0	256,885
Sba Communications Corp	COM	78388J106	224	2,000	SH		DFND		2,000	0	0
Schwab International Equity Etf	COM	808524805	524	18,194	SH		SOLE		0	0	18,194
Schwab Us Aggregate Bond Etf	COM	808524839	1,101	20,516	SH		SOLE		0	0	20,516
Schwab Us Mid-Cap Etf	COM	808524508	615	14,131	SH		SOLE		0	0	14,131
Schwab Us Small-Cap Etf	COM	808524607	616	10,701	SH		SOLE		0	0	10,701
Skyworks Solution	COM	83088M102	305	4,000	SH		DFND		4,000	0	0
Sl Green Realty	COM	78440X101	324	3,000	SH		DFND		3,000	0	0
Southern Co	COM	842587107	2,510	48,936	SH		SOLE		0	0	48,936
Spdr Barclays Short Term Corp Bd Etf	COM	78464A474	4,875	158,441	SH		SOLE		0	0	158,441
Spdr S&P Midcap 400 Etf	COM	78467Y107	402	1,423	SH		SOLE		0	0	1,423
Stryker Corporation	COM	863667101	2,144	18,419	SH		SOLE		0	0	18,419
Stuart Olson Inc	ADR	863834107	138	30,000	SH		DFND		30,000	0	0
Thermo Fisher	COM	883556102	318	2,000	SH		DFND		2,000	0	0
Twenty-First Century Fox Inc	COM	90130A101	334	13,788	SH		SOLE		0	0	13,788
Tyson Foods Inc	COM	902494103	1,543	20,663	SH		SOLE		0	0	20,663
Udr Inc	COM	902653104	358	9,951	SH		SOLE		0	0	9,951
United Therapeut	COM	91307C102	325	2,750	SH		DFND		2,750	0	0
Valmont Industries Inc	COM	920253101	2,962	22,014	SH		SOLE		0	0	22,014
Vanguard Energy Etf	COM	92204A306	208	2,130	SH		SOLE		0	0	2,130
Vanguard Ftse Developed Markets Etf	COM	921943858	4,035	107,862	SH		SOLE		0	0	107,862
Vanguard Information Technology Etf	COM	92204A702	4,705	39,091	SH		SOLE		0	0	39,091
Vanguard S&P 500 Etf	COM	922908363	240	1,210	SH		SOLE		0	0	1,210
Vanguard Total Bond Market Etf	COM	921937835	378	4,490	SH		SOLE		0	0	4,490
Verizon Communications Inc	COM	92343V104	2,049	39,409	SH		SOLE		0	0	39,409
Voya Asia Pacific High Dividend Eq Inc	COM	92912J102	1,916	194,739	SH		SOLE		0	0	194,739
Voya Financial Inc	COM	929089100	1,525	52,925	SH		SOLE		0	0	52,925
Wells Fargo & Co	COM	949746101	361	8,161	SH		DFND		8,161	0	0
Western Asset Glb Corp Def Opp Common	COM	95790C107	4,259	240,756	SH		SOLE		0	0	240,756
Western Asset High Income Opp	COM	95766K109	4,396	870,430	SH		SOLE		0	0	870,430
Wgl Holdings Inc	COM	92924F106	2,985	47,606	SH		SOLE		0	0	47,606
Williams Companies Inc	COM	969457100	2,496	81,233	SH		SOLE		0	0	81,233
Wp Carey Inc	COM	92936U109	323	5,000	SH		DFND		5,000	0	0
Wpx Energy Inc	COM	98212B103	303	22,944	SH		SOLE		0	0	22,944