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	3,089	17,297	SH		SOLE		0	0	17,297
Aecom Technology	COM	00766T100	309	8,500	SH		DFND		8,500	0	0
Aetna Inc	COM	00817Y108	1,471	11,860	SH		SOLE		0	0	11,860
Alexandria Real	COM	015271109	206	1,850	SH		DFND		1,850	0	0
Allstate Corp	COM	020002101	1,858	25,061	SH		SOLE		0	0	25,061
American Tower-A	COM	03027X100	264	2,500	SH		DFND		2,500	0	0
Amgen Inc	COM	031162100	2,594	17,744	SH		SOLE		0	0	17,744
Annaly Capital Management	COM	035710409	135	13,500	SH		DFND		13,500	0	0
Artesian Resource Corp	COM	043113208	2,522	78,964	SH		SOLE		0	0	78,964
Avalonbay Commun	COM	053484101	239	1,347	SH		DFND		1,347	0	0
Bank Of America Corporation	COM	060505104	398	17,988	SH		SOLE		0	0	17,988
Blackrock Intern L Grth & Inc Common	COM	092524107	1,422	258,127	SH		SOLE		0	0	258,127
Blackrock Muniyield Qty Iii	COM	09254E103	866	63,472	SH		SOLE		0	0	63,472
Blue Capital Reisurance	COM	G1190F107	258	14,000	SH		DFND		14,000	0	0
Bok Financial Corp	COM	05561Q201	311	3,751	SH		SOLE		0	0	3,751
Boston Properties	COM	101121101	308	2,450	SH		DFND		2,450	0	0
Bp Plc-Adr	ADR	055622104	306	8,181	SH		DFND		8,181	0	0
Briggs & Strattn	COM	109043109	223	10,000	SH		DFND		10,000	0	0
Brookfield Canada Office	COM	112823109	194	10,000	SH		DFND		10,000	0	0
Cemex Sab-Sp Adr	ADR	151290889	222	27,669	SH		DFND		27,669	0	0
Chase Corp	COM	16150R104	5,072	60,712	SH		SOLE		0	0	60,712
Cimarex Energy Co	COM	171798101	3,738	27,502	SH		SOLE		0	0	27,502
Coca-Cola Co	COM	191216100	343	8,266	SH		SOLE		0	0	8,266
Compania Cervecerias -Adr	ADR	204429104	302	14,401	SH		DFND		14,401	0	0
Consumer Discret Sel Sect Spdr Etf	COM	81369Y407	3,133	38,483	SH		SOLE		0	0	38,483
Consumer Staples Select Sector Spdr Etf	COM	81369Y308	3,281	63,449	SH		SOLE		0	0	63,449
Csx Corp	COM	126408103	2,460	68,480	SH		SOLE		0	0	68,480
Cvs Health Corp	COM	126650100	452	5,722	SH		SOLE		0	0	5,722
Dentsply Sirona Inc	COM	24906P109	289	5,000	SH		DFND		5,000	0	0
Diageo Plc-Adr	ADR	25243Q205	291	2,800	SH		DFND		2,800	0	0
Eastgroup Prop	COM	277276101	222	3,000	SH		DFND		3,000	0	0
Energy Select Sector Spdr Etf	COM	81369Y506	3,197	42,447	SH		SOLE		0	0	42,447
Enterprise Products Partners Lp	COM	293792107	2,024	74,848	SH		SOLE		0	0	74,848
Essex Property	COM	297178105	209	900	SH		DFND		900	0	0
Everest Re Group Ltd	COM	G3223R108	2,831	13,084	SH		SOLE		0	0	13,084
Extra Space Stor	COM	30225T102	394	5,100	SH		DFND		5,100	0	0
Exxon Mobil Corporation	COM	30231G102	2,724	30,184	SH		SOLE		0	0	30,184
First Financial Bankshares Inc	COM	32020R109	218	4,828	SH		SOLE		0	0	4,828
Flowers Foods Inc	COM	343498101	1,521	76,170	SH		SOLE		0	0	76,170
Gafisa Sa-Adr	ADR	362607301	22	20,000	SH		DFND		20,000	0	0
Georgetown Bancorp, Inc.	COM	372591107	259	10,002	SH		DFND		10,002	0	0
Glaxosmithkl-Adr	ADR	37733W105	250	6,500	SH		DFND		6,500	0	0
Global X Msci Nigeria Etf	COM	37950E424	95	22,200	SH		DFND		22,200	0	0
Goldman Sachs Activebeta Intl Eq Etf	COM	381430107	2,958	121,443	SH		SOLE		0	0	121,443
Grupo Televisa - Adr	ADR	40049J206	313	15,000	SH		DFND		15,000	0	0
Guggenheim Bulletshrs2018 Corp Bd Etf	COM	18383M530	481	22,726	SH		SOLE		0	0	22,726
Guggenheim Bulletshrs2018 Hy Corpbd Etf	COM	18383M381	4,656	184,893	SH		SOLE		0	0	184,893
Guggenheim Bulletshrs2019 Corp Bd Etf	COM	18383M522	3,660	173,120	SH		SOLE		0	0	173,120
Guggenheim Bulletshrs2020 Corp Bd Etf	COM	18383M514	463	21,823	SH		SOLE		0	0	21,823
Guggenheim Bulletshrs2021 Corp Bd Etf	COM	18383M266	3,554	169,312	SH		SOLE		0	0	169,312
Guggenheim S&P 500 Eq Weight Hc Etf	COM	78355W841	3,257	22,322	SH		SOLE		0	0	22,322
Guggenheim S&P 500 Equal Weight Etf	COM	78355W106	3,635	41,951	SH		SOLE		0	0	41,951
Hdfc Bank Ltd - Adr	ADR	40415F101	243	4,000	SH		DFND		4,000	0	0
Ingles Markets Inc	COM	457030104	4,339	90,209	SH		SOLE		0	0	90,209
International Business Machines Corp	COM	459200101	235	1,417	SH		SOLE		0	0	1,417
Invesco Muni Opps. Trust Common	COM	46132C107	1,097	86,097	SH		SOLE		0	0	86,097
Ishares Cali Amt-Free Muni Bond	COM	464288356	478	4,138	SH		SOLE		0	0	4,138
Ishares Cohen & Steers Reit	COM	464287564	3,022	30,330	SH		SOLE		0	0	30,330
Ishares Core S&P Mid-Cap	COM	464287507	3,443	20,826	SH		SOLE		0	0	20,826
Ishares Core Us Aggregate Bond	COM	464287226	445	4,120	SH		SOLE		0	0	4,120
Ishares Floating Rate Bond	COM	46429B655	4,738	93,397	SH		SOLE		0	0	93,397
Ishares Global Healthcare	COM	464287325	2,607	27,493	SH		SOLE		0	0	27,493
Ishares Iboxx $ Invst Grade Crp Bond	COM	464287242	308	2,629	SH		SOLE		0	0	2,629
Ishares Mbs	COM	464288588	308	2,897	SH		SOLE		0	0	2,897
Ishares Msci Eafe	COM	464287465	1,849	32,029	SH		SOLE		0	0	32,029
Ishares Msci Eafe Small-Cap	COM	464288273	2,999	60,179	SH		SOLE		0	0	60,179
Ishares Msci Emu	COM	464286608	2,473	71,487	SH		SOLE		0	0	71,487
Ishares National Amt-Free Muni Bond	COM	464288414	1,184	10,941	SH		SOLE		0	0	10,941
Ishares Russell 1000	COM	464287622	1,068	8,581	SH		SOLE		0	0	8,581
Ishares Russell 2000	COM	464287655	1,168	8,665	SH		SOLE		0	0	8,665
Ishares Russell Mid-Cap	COM	464287499	1,086	6,072	SH		SOLE		0	0	6,072
Ishares Select Dividend	COM	464287168	3,161	35,694	SH		SOLE		0	0	35,694
James Hardie Ind Plc Adr	ADR	47030M106	398	25,000	SH		DFND		25,000	0	0
Jh Financial Opportunities Common	COM	409735206	3,853	106,243	SH		SOLE		0	0	106,243
Johnson & Johnson	COM	478160104	2,359	20,476	SH		SOLE		0	0	20,476
Kvh Industries	COM	482738101	354	30,000	SH		DFND		30,000	0	0
Lennox Intl Inc	COM	526107107	260	1,700	SH		DFND		1,700	0	0
Lifepoint Hospit	COM	53219L109	284	5,000	SH		DFND		5,000	0	0
Lowe S Companies Inc	COM	548661107	2,799	39,352	SH		SOLE		0	0	39,352
Luby'S Inc	COM	549282101	141	32,994	SH		DFND		32,994	0	0
Maiden Holdings Ltd	COM	G5753U112	349	20,000	SH		DFND		20,000	0	0
Market Vectors Africa	COM	92189F866	205	10,340	SH		DFND		10,340	0	0
Marriott International	COM	571903202	416	5,035	SH		DFND		5,035	0	0
Metlife Inc	COM	59156R108	1,856	34,447	SH		SOLE		0	0	34,447
Miller Ind Inc/Tenn	COM	600551204	476	18,000	SH		DFND		18,000	0	0
National Western Life Insurance	COM	638517102	3,320	10,683	SH		SOLE		0	0	10,683
Netapp Inc	COM	64110D104	317	9,000	SH		DFND		9,000	0	0
Nice Systems-Adr	ADR	653656108	378	5,500	SH		DFND		5,500	0	0
Nobilis Health Corp.	COM	65500B103	32	15,400	SH		DFND		15,400	0	0
Norfolk Southern	COM	655844108	378	3,500	SH		DFND		3,500	0	0
Northwestern Corp	COM	668074305	2,109	37,083	SH		SOLE		0	0	37,083
Novartis Ag	ADR	66987V109	1,731	23,763	SH		SOLE		0	0	23,763
Nuveen Intermediate Duration Muni Term	COM	670671106	1,487	117,012	SH		SOLE		0	0	117,012
Pimco Enhanced Short Maturity Etf	COM	72201R833	4,824	47,607	SH		SOLE		0	0	47,607
Powershares International Corp Bd Etf	COM	73936Q835	2,438	99,560	SH		SOLE		0	0	99,560
Procter & Gamble	COM	742718109	294	3,500	SH		DFND		3,500	0	0
Pub Serv Enterp	COM	744573106	351	8,000	SH		DFND		8,000	0	0
Qualcomm Inc	COM	747525103	311	4,774	SH		SOLE		0	0	4,774
Regions Financial Corp	COM	7591EP100	258	18,000	SH		DFND		18,000	0	0
Rgc Resources	COM	74955L103	582	23,310	SH		SOLE		0	0	23,310
Royce Micro Cap Trust Common	COM	780915104	2,608	319,567	SH		SOLE		0	0	319,567
Royce Value Trust Common	COM	780910105	3,466	258,885	SH		SOLE		0	0	258,885
Sba Communications Corp	COM	78388J106	207	2,000	SH		DFND		2,000	0	0
Schwab International Equity Etf	COM	808524805	808	29,208	SH		SOLE		0	0	29,208
Schwab Us Aggregate Bond Etf	COM	808524839	1,945	37,771	SH		SOLE		0	0	37,771
Schwab Us Mid-Cap Etf	COM	808524508	966	21,386	SH		SOLE		0	0	21,386
Schwab Us Small-Cap Etf	COM	808524607	982	15,972	SH		SOLE		0	0	15,972
Sk Telecom-Adr	ADR	78440P108	314	15,000	SH		DFND		15,000	0	0
Skyworks Solutions	COM	83088M102	299	4,000	SH		DFND		4,000	0	0
Sl Green Realty	COM	78440X101	293	2,720	SH		DFND		2,720	0	0
Southern Co	COM	842587107	2,416	49,117	SH		SOLE		0	0	49,117
Spdr Barclays Short Term Corp Bd Etf	COM	78464A474	4,854	158,975	SH		SOLE		0	0	158,975
Spdr S&P Midcap 400 Etf	COM	78467Y107	429	1,423	SH		SOLE		0	0	1,423
Stryker Corporation	COM	863667101	2,207	18,420	SH		SOLE		0	0	18,420
Thermo Fisher	COM	883556102	282	2,000	SH		DFND		2,000	0	0
Twenty-First Century Fox Inc	COM	90130A101	387	13,788	SH		SOLE		0	0	13,788
Tyson Foods Inc	COM	902494103	1,268	20,554	SH		SOLE		0	0	20,554
Udr Inc	COM	902653104	363	9,951	SH		SOLE		0	0	9,951
Unilever Nv-Nys	COM	904784709	370	9,000	SH		DFND		9,000	0	0
United Therapeut	COM	91307C102	394	2,750	SH		DFND		2,750	0	0
Valmont Industries Inc	COM	920253101	3,202	22,726	SH		SOLE		0	0	22,726
Vanguard Energy Etf	COM	92204A306	223	2,130	SH		SOLE		0	0	2,130
Vanguard Ftse Developed Markets Etf	COM	921943858	4,078	111,591	SH		SOLE		0	0	111,591
Vanguard Information Technology Etf	COM	92204A702	5,027	41,377	SH		SOLE		0	0	41,377
Vanguard S&P 500 Etf	COM	922908363	269	1,310	SH		SOLE		0	0	1,310
Vanguard Total Bond Market Etf	COM	921937835	363	4,490	SH		SOLE		0	0	4,490
Verizon Communications Inc	COM	92343V104	2,135	39,989	SH		SOLE		0	0	39,989
Voya Asia Pacific High Dividend Eq Inc	COM	92912J102	1,400	160,746	SH		SOLE		0	0	160,746
Voya Financial Inc	COM	929089100	2,089	53,265	SH		SOLE		0	0	53,265
Wells Fargo & Co	COM	949746101	450	8,161	SH		DFND		8,161	0	0
Western Asset Glb Corp Def Opp Common	COM	95790C107	4,134	241,483	SH		SOLE		0	0	241,483
Western Asset High Income Opp	COM	95766K109	4,380	877,728	SH		SOLE		0	0	877,728
Wgl Holdings Inc	COM	92924F106	3,692	48,401	SH		SOLE		0	0	48,401
Williams Companies Inc	COM	969457100	1,776	57,033	SH		SOLE		0	0	57,033
Wp Carey Inc	COM	92936U109	264	4,470	SH		DFND		4,470	0	0
Wpx Energy Inc	COM	98212B103	334	22,944	SH		SOLE		0	0	22,944