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	3,967	18,072	SH		SOLE		0	0	18,072
Aetna Inc	COM	00817Y108	2,035	12,041	SH		SOLE		0	0	12,041
Alexandria Real	COM	015271109	231	1,850	SH		DFND		1,850	0	0
Allegiance Bancshares Inc	COM	01748H107	209	5,334	SH		SOLE		0	0	5,334
Allstate Corp	COM	020002101	2,246	23,687	SH		SOLE		0	0	23,687
American Tower-A	COM	03027X100	363	2,500	SH		DFND		2,500	0	0
Amgen Inc	COM	031162100	3,139	18,410	SH		SOLE		0	0	18,410
Annaly Capital Management	COM	035710409	141	13,500	SH		DFND		13,500	0	0
Apple Inc	COM	037833100	525	3,129	SH		SOLE		0	0	3,129
Apple Inc	COM	037833100	503	3,000	SH		DFND		3,000	0	0
Artesian Resource Corp	COM	043113208	3,157	86,552	SH		SOLE		0	0	86,552
Astrazeneca-Adr	ADR	046353108	280	8,000	SH		DFND		8,000	0	0
Avalonbay Communities	COM	053484101	214	1,300	SH		DFND		1,300	0	0
Banco Santan-Adr	ADR	05964H105	131	20,000	SH		DFND		20,000	0	0
Bank of America Corporation	COM	060505104	539	17,988	SH		SOLE		0	0	17,988
BlackRock Intern l Grth & Inc Common	COM	092524107	3,105	509,926	SH		SOLE		0	0	509,926
BlackRock MuniYield Qty III	COM	09254E103	1,443	114,196	SH		SOLE		0	0	114,196
Blue Capital Reisurance	COM	G1190F107	171	14,000	SH		DFND		14,000	0	0
Bp Plc-Adr	ADR	055622104	520	12,815	SH		DFND		12,815	0	0
Briggs & Strattn	COM	109043109	214	10,000	SH		DFND		10,000	0	0
Cemex Sab-Sp Adr	ADR	151290889	190	28,775	SH		DFND		28,775	0	0
Chase Corp	COM	16150R104	6,475	55,604	SH		SOLE		0	0	55,604
Chevron Corp	COM	166764100	285	2,500	SH		DFND		2,500	0	0
Cimarex Energy Co	COM	171798101	2,712	29,005	SH		SOLE		0	0	29,005
Coca-Cola Co	COM	191216100	340	7,838	SH		SOLE		0	0	7,838
Compania Cervecerias -Adr	ADR	204429104	424	14,401	SH		DFND		14,401	0	0
Consumer Discret Sel Sect SPDR(R) ETF	COM	81369Y407	4,196	41,426	SH		SOLE		0	0	41,426
Consumer Staples Select Sector SPDR(R) ETF	COM	81369Y308	3,346	63,579	SH		SOLE		0	0	63,579
Covanta Holding Corp	COM	22282E102	2,324	160,264	SH		SOLE		0	0	160,264
Crown Castle Int	COM	22822V101	219	2,000	SH		DFND		2,000	0	0
CSX Corp	COM	126408103	3,872	69,496	SH		SOLE		0	0	69,496
CVS Health Corp	COM	126650100	944	15,173	SH		SOLE		0	0	15,173
Dentsply Sirona Inc	COM	24906P109	252	5,000	SH		DFND		5,000	0	0
Diageo Plc-Adr	COM	25243Q205	379	2,800	SH		DFND		2,800	0	0
Digital Realty	COM	253868103	226	2,141	SH		DFND		2,141	0	0
Energy Select Sector SPDR(R) ETF	COM	81369Y506	2,629	39,005	SH		SOLE		0	0	39,005
Enterprise Products Partners LP	COM	293792107	1,825	74,556	SH		SOLE		0	0	74,556
Equinix Inc	COM	29444U700	306	732	SH		DFND		732	0	0
Essex Property	COM	297178105	217	900	SH		DFND		900	0	0
EV Municipal Bond	COM	27827X101	556	47,070	SH		SOLE		0	0	47,070
Everest Re Group Ltd	COM	G3223R108	3,215	12,519	SH		SOLE		0	0	12,519
Extra Space Stor	COM	30225T102	218	2,500	SH		DFND		2,500	0	0
Exxon Mobil Corporation	COM	30231G102	2,118	28,383	SH		SOLE		0	0	28,383
Glaxosmithkl-Adr	ADR	37733W105	254	6,500	SH		DFND		6,500	0	0
Goldman Sachs ActiveBeta(R) Intl Eq ETF	COM	381430107	5,796	194,243	SH		SOLE		0	0	194,243
Goldman Sachs ActiveBeta(R) US LgCp Eq ETF	COM	381430503	1,036	19,406	SH		SOLE		0	0	19,406
Group 1 Automoti	COM	398905109	261	4,000	SH		DFND		4,000	0	0
Grupo Aeroportuario - Adr	ADR	40051E202	222	1,300	SH		DFND		1,300	0	0
Grupo Televisa - Adr	ADR	40049J206	239	15,000	SH		DFND		15,000	0	0
Guggenheim BulletShrs 2022 Corp Bd ETF	COM	73939W888	1,178	56,706	SH		SOLE		0	0	56,706
Guggenheim BulletShrs 2022 HY CorpBd ETF	COM	73939W870	3,458	141,090	SH		SOLE		0	0	141,090
Guggenheim BulletShrs(R)2018 Corp Bd ETF	COM	73939W102	702	33,226	SH		SOLE		0	0	33,226
Guggenheim BulletShrs(R)2018 HY CorpBd ETF	COM	73939W201	5,162	205,494	SH		SOLE		0	0	205,494
Guggenheim BulletShrs(R)2019 Corp Bd ETF	COM	73939W300	4,151	197,838	SH		SOLE		0	0	197,838
Guggenheim BulletShrs(R)2020 Corp Bd ETF	COM	73939W508	4,617	219,214	SH		SOLE		0	0	219,214
Guggenheim BulletShrs(R)2021 Corp Bd ETF	COM	73939W706	4,071	195,524	SH		SOLE		0	0	195,524
Guggenheim China	COM	18383Q861	257	8,500	SH		DFND		8,500	0	0
Guggenheim S&P 500(R) Eq Weight HC ETF	COM	739371789	3,929	21,863	SH		SOLE		0	0	21,863
Guggenheim S&P 500(R) Equal Weight ETF	COM	739371813	3,015	30,311	SH		SOLE		0	0	30,311
Guggenheim S&P Global Water Index ETF	COM	73936Q546	1,951	57,239	SH		SOLE		0	0	57,239
Halliburton Co	COM	406216101	282	6,000	SH		DFND		6,000	0	0
Hdfc Bank Ltd - Adr	ADR	40415F101	395	4,000	SH		DFND		4,000	0	0
Ingles Markets Inc	COM	457030104	2,984	88,139	SH		SOLE		0	0	88,139
Inseego Corp	COM	149123101	21	12,000	SH		SOLE		0	0	12,000
Intercontinental Hotels	COM	45857P707	264	4,319	SH		DFND		4,319	0	0
International Business Machines Corp	COM	459200101	217	1,417	SH		SOLE		0	0	1,417
Invesco Muni Opps. Trust Common	COM	46132C107	1,130	96,443	SH		SOLE		0	0	96,443
Iron Mountain Inc.	COM	46284V101	237	7,200	SH		DFND		7,200	0	0
iShares 0-5 Year High Yield Corp Bd	COM	46434V407	2,546	54,406	SH		SOLE		0	0	54,406
iShares Cali AMT-Free Muni Bond	COM	464288356	553	9,476	SH		SOLE		0	0	9,476
iShares Cohen & Steers REIT	COM	464287564	2,429	26,040	SH		SOLE		0	0	26,040
iShares Core S&P Mid-Cap	COM	464287507	4,064	21,667	SH		SOLE		0	0	21,667
iShares Core US Aggregate Bond	COM	464287226	691	6,442	SH		SOLE		0	0	6,442
iShares Floating Rate Bond	COM	46429B655	5,666	111,247	SH		SOLE		0	0	111,247
iShares Global Healthcare	COM	464287325	3,305	29,687	SH		SOLE		0	0	29,687
iShares iBoxx $ Invst Grade Crp Bond	COM	464287242	739	6,296	SH		SOLE		0	0	6,296
iShares MBS	COM	464288588	568	5,431	SH		SOLE		0	0	5,431
iShares MSCI EAFE	COM	464287465	1,347	19,334	SH		SOLE		0	0	19,334
iShares MSCI EAFE Small-Cap	COM	464288273	4,384	67,252	SH		SOLE		0	0	67,252
iShares MSCI EMU	COM	464286608	3,646	84,113	SH		SOLE		0	0	84,113
iShares MSCI Japan	COM	46434G822	1,555	25,620	SH		SOLE		0	0	25,620
iShares National AMT-Free Muni Bond	COM	464288414	1,395	12,809	SH		SOLE		0	0	12,809
iShares Russell 1000	COM	464287622	1,784	12,149	SH		SOLE		0	0	12,149
iShares Russell 2000	COM	464287655	783	5,155	SH		SOLE		0	0	5,155
iShares Russell Mid-Cap	COM	464287499	1,346	6,521	SH		SOLE		0	0	6,521
iShares Select Dividend	COM	464287168	3,431	36,073	SH		SOLE		0	0	36,073
iShares Short-Term National Muni Bond	COM	464288158	642	6,120	SH		SOLE		0	0	6,120
James Hardie Ind Plc Adr	ADR	47030M106	447	25,000	SH		DFND		25,000	0	0
JH Financial Opportunities Common	COM	409735206	3,952	103,044	SH		SOLE		0	0	103,044
JHancock Multifactor Large Cap ETF	COM	47804J107	685	19,833	SH		SOLE		0	0	19,833
Johnson & Johnson	COM	478160104	2,559	19,968	SH		SOLE		0	0	19,968
Kvh Industries	COM	482738101	311	30,000	SH		DFND		30,000	0	0
Lennox Intl Inc	COM	526107107	347	1,700	SH		DFND		1,700	0	0
Lifepoint Hospital	COM	53219L109	235	5,000	SH		DFND		5,000	0	0
Lowe s Companies Inc	COM	548661107	1,911	21,779	SH		SOLE		0	0	21,779
Lowe'S Cos Inc	COM	548661107	228	2,600	SH		DFND		2,600	0	0
Maiden Holdings Ltd	COM	G5753U112	130	20,000	SH		DFND		20,000	0	0
Market Vectors Africa	COM	92189F866	265	10,340	SH		DFND		10,340	0	0
MetLife Inc	COM	59156R108	1,630	35,530	SH		SOLE		0	0	35,530
Miller Ind Inc/Tenn	COM	600551204	450	18,000	SH		DFND		18,000	0	0
Mohawk Inds	COM	608190104	221	950	SH		DFND		950	0	0
National Western Life Insurance	COM	638517102	3,410	11,184	SH		SOLE		0	0	11,184
Netapp Inc	COM	64110D104	555	9,000	SH		DFND		9,000	0	0
Nice Systems-Adr	ADR	653656108	517	5,500	SH		DFND		5,500	0	0
Norfolk Southern	COM	655844108	475	3,500	SH		DFND		3,500	0	0
Novartis AG	ADR	001200526	1,958	24,217	SH		SOLE		0	0	24,217
Nuveen Intermediate Duration Muni Term	COM	670671106	1,471	117,132	SH		SOLE		0	0	117,132
Old Republic International Corp	COM	680223104	1,477	68,853	SH		SOLE		0	0	68,853
Pearson Plc	COM	705015105	211	20,000	SH		DFND		20,000	0	0
Phillips 66 Com	COM	718546104	1,591	16,590	SH		SOLE		0	0	16,590
Pilgrim'S Pride Corp	COM	72147K108	212	8,600	SH		DFND		8,600	0	0
PIMCO Enhanced Short Maturity ETF	COM	72201R833	5,759	56,707	SH		SOLE		0	0	56,707
Procter & Gamble	COM	742718109	277	3,500	SH		DFND		3,500	0	0
Qualcomm Inc	COM	747525103	278	5,010	SH		SOLE		0	0	5,010
Regions Financial Corp	COM	7591EP100	334	18,000	SH		DFND		18,000	0	0
RGC Resources	COM	74955L103	870	34,269	SH		SOLE		0	0	34,269
Royce Micro Cap Trust Common	COM	780915104	3,175	339,209	SH		SOLE		0	0	339,209
Royce Value Trust Common	COM	780910105	190	12,191	SH		SOLE		0	0	12,191
Ryman Hospitality Prop	COM	78377T107	234	3,024	SH		DFND		3,024	0	0
Sba Communications Corp	COM	78410G104	342	2,000	SH		DFND		2,000	0	0
Schwab Emerging Markets Equity ETF(TM)	COM	808524706	295	10,272	SH		SOLE		0	0	10,272
Schwab Fundamental US Large Company ETF	COM	808524771	985	27,096	SH		SOLE		0	0	27,096
Schwab International Equity ETF(TM)	COM	808524805	1,156	34,299	SH		SOLE		0	0	34,299
Schwab US Aggregate Bond ETF(TM)	COM	808524839	2,493	48,869	SH		SOLE		0	0	48,869
Schwab US Mid-Cap ETF(TM)	COM	808524508	1,308	24,727	SH		SOLE		0	0	24,727
Schwab US Small-Cap ETF(TM)	COM	808524607	1,272	18,404	SH		SOLE		0	0	18,404
Skyworks Solutions	COM	83088M102	401	4,000	SH		DFND		4,000	0	0
Sl Green Realty	COM	78440X101	263	2,720	SH		DFND		2,720	0	0
Sony Corp Adr	ADR	835699307	242	5,000	SH		DFND		5,000	0	0
SPDR(R) Blmbg Barclays ST Corp Bd ETF	COM	78464A474	5,370	177,820	SH		SOLE		0	0	177,820
SPDR(R) S&P MidCap 400 ETF	COM	78467Y107	472	1,380	SH		SOLE		0	0	1,380
Stryker Corporation	COM	863667101	2,833	17,607	SH		SOLE		0	0	17,607
Teva Pharm-Adr	ADR	881624209	273	16,000	SH		DFND		16,000	0	0
Texas Instruments Inc	COM	882508104	260	2,500	SH		SOLE		0	0	2,500
Thermo Fisher	COM	883556102	413	2,000	SH		DFND		2,000	0	0
Twenty-First Century Fox Inc	COM	90130A101	506	13,788	SH		SOLE		0	0	13,788
Tyson Foods Inc	COM	902494103	1,594	21,782	SH		SOLE		0	0	21,782
UDR Inc	COM	902653104	354	9,951	SH		SOLE		0	0	9,951
Unilever Nv-Nys	COM	904784709	508	9,000	SH		DFND		9,000	0	0
United Therapeutics	COM	91307C102	309	2,750	SH		DFND		2,750	0	0
Valmont Industries Inc	COM	920253101	3,513	24,009	SH		SOLE		0	0	24,009
Vanguard FTSE Developed Markets ETF	COM	921943858	6,496	146,809	SH		SOLE		0	0	146,809
Vanguard FTSE Emerging Markets ETF	COM	922042858	555	11,805	SH		SOLE		0	0	11,805
Vanguard High Dividend Yield ETF	COM	921946406	449	5,444	SH		SOLE		0	0	5,444
Vanguard Information Technology ETF	COM	92204A702	7,711	45,093	SH		SOLE		0	0	45,093
Vanguard S&P 500 ETF	COM	922908363	293	1,210	SH		SOLE		0	0	1,210
Vanguard Total Bond Market ETF	COM	921937835	359	4,490	SH		SOLE		0	0	4,490
Voya Asia Pacific High Dividend Eq Inc	COM	92912J102	1,692	157,704	SH		SOLE		0	0	157,704
Voya Financial Inc	COM	929089100	2,637	52,210	SH		SOLE		0	0	52,210
Vulcan Materials	COM	929160109	206	1,800	SH		DFND		1,800	0	0
Wells Fargo & Co	COM	949746101	218	4,161	SH		DFND		4,161	0	0
Western Asset Glb Corp Def Opp Common	COM	95790C107	4,371	261,274	SH		SOLE		0	0	261,274
Western Asset High Income Opp	COM	95766K109	4,574	950,928	SH		SOLE		0	0	950,928
WGL Holdings Inc	COM	92924F106	4,070	48,649	SH		SOLE		0	0	48,649
Williams Companies Inc	COM	969457100	1,221	49,110	SH		SOLE		0	0	49,110
Wp Carey Inc	COM	92936U109	277	4,470	SH		DFND		4,470	0	0
Wpx Energy Inc	COM	98212B103	339	22,944	SH		SOLE		0	0	22,944