Brown Advisory Securities 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

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

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	1,478	10,443	SH		DFND		0	0	10,443
ABBOTT LABS	COM	002824100	1,054	26,277	SH		DFND		0	0	26,277
ABBVIE INC	COM	00287Y109	2,442	44,865	SH		DFND		0	0	44,865
ACCENTURE PLC IRELAND	SHS CLASS A	G1151C101	2,769	28,200	SH		DFND		0	0	28,200
ACE LTD	SHS	H0023R105	203	1,937	SH		DFND		0	0	1,937
ACNB CORP	COM	000868109	327	15,659	SH		DFND		0	0	15,659
ACUITY BRANDS INC	COM	00508Y102	264	1,503	SH		DFND		0	0	1,503
AFFILIATED MANAGERS GROUP	COM	008252108	297	1,736	SH		DFND		0	0	1,736
AIR LEASE CORP	NOTE 3.875%12/0	00912XAK0	21	16,000	PRN		DFND		0	0	16,000
AIR PRODS & CHEMS INC	COM	009158106	467	3,650	SH		DFND		0	0	3,650
ALEXION PHARMACEUTICALS INC	COM	015351109	609	3,863	SH		DFND		0	0	3,863
ALTRIA GROUP INC	COM	02209S103	1,291	23,702	SH		DFND		0	0	23,702
AMAZON COM INC	COM	023135106	5,195	10,153	SH		DFND		0	0	10,153
AMERICAN EXPRESS CO	COM	025816109	1,369	18,486	SH		DFND		0	0	18,486
AMERICAN TOWER CORP NEW	COM	03027X100	1,759	19,968	SH		DFND		0	0	19,968
AMETEK INC NEW	COM	031100100	325	6,208	SH		DFND		0	0	6,208
AMGEN INC	COM	031162100	519	3,747	SH		DFND		0	0	3,747
AMPHENOL CORP NEW	CL A	032095101	395	7,754	SH		DFND		0	0	7,754
ANADARKO PETE CORP	COM	032511107	519	8,638	SH		DFND		0	0	8,638
ANSYS INC	COM	03662Q105	202	2,289	SH		DFND		0	0	2,289
ANTARES PHARMA INC	COM	036642106	47	27,587	SH		DFND		0	0	27,587
ANTHEM INC	COM	036752103	213	1,515	SH		DFND		0	0	1,515
AON PLC	SHS CL A	G0408V102	260	2,918	SH		DFND		0	0	2,918
APACHE CORP	COM	037411105	365	9,248	SH		DFND		0	0	9,248
APPLE INC	COM	037833100	14,585	132,332	SH		DFND		0	0	132,332
ARES CAP CORP	NOTE 5.750% 2/0	04010LAB9	10	10,000	PRN		DFND		0	0	10,000
ASTRONICS CORP	COM	046433108	468	11,581	SH		DFND		0	0	11,581
AT&T INC	COM	00206R102	2,253	69,004	SH		DFND		0	0	69,004
ATLAS AIR WORLDWIDE HLDGS IN	NOTE 2.250% 6/0	049164BH8	21	26,000	PRN		DFND		0	0	26,000
AUTODESK INC	COM	052769106	253	5,716	SH		DFND		0	0	5,716
AUTOMATIC DATA PROCESSING IN	COM	053015103	371	4,618	SH		DFND		0	0	4,618
AVALONBAY CMNTYS INC	COM	053484101	595	3,408	SH		DFND		0	0	3,408
AVERY DENNISON CORP	COM	053611109	264	4,627	SH		DFND		0	0	4,627
BAIDU INC	SPON ADR REP A	056752108	1,797	13,076	SH		DFND		0	0	13,076
BANK AMER CORP	COM	060505104	429	27,613	SH		DFND		0	0	27,613
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	4,257	32,614	SH		DFND		0	0	32,614
BIOMARIN PHARMACEUTICAL INC	NOTE 0.750%10/1	09061GAE1	31	23,000	PRN		DFND		0	0	23,000
BOEING CO	COM	097023105	397	3,034	SH		DFND		0	0	3,034
BOTTOMLINE TECH DEL INC	NOTE 1.500%12/0	101388AA4	17	17,000	PRN		DFND		0	0	17,000
BP PLC	SPONSORED ADR	055622104	360	11,776	SH		DFND		0	0	11,776
BRIGHT HORIZONS FAM SOL IN D	COM	109194100	679	10,610	SH		DFND		0	0	10,610
BRISTOL MYERS SQUIBB CO	COM	110122108	2,497	42,129	SH		DFND		0	0	42,129
BROOKFIELD ASSET MGMT INC	CL A LTD VT SH	112585104	871	27,625	SH		DFND		0	0	27,625
BROOKFIELD INFRAST PARTNERS	LP INT UNIT	G16252101	351	9,532	SH		DFND		0	0	9,532
CANADIAN NATL RY CO	COM	136375102	589	10,353	SH		DFND		0	0	10,353
CARLYLE GROUP L P	COM UTS LTD PTN	14309L102	460	27,330	SH		DFND		0	0	27,330
CARMAX INC	COM	143130102	250	4,186	SH		DFND		0	0	4,186
CATERPILLAR INC DEL	COM	149123101	903	13,772	SH		DFND		0	0	13,772
CEL SCI CORP	COM PAR $0.01	150837508	13	22,389	SH		DFND		0	0	22,389
CELGENE CORP	COM	151020104	364	3,366	SH		DFND		0	0	3,366
CHART INDS INC	NOTE 2.000% 8/0	16115QAC4	16	17,000	PRN		DFND		0	0	17,000
CHESAPEAKE ENERGY CORP	COM	165167107	155	21,050	SH		DFND		0	0	21,050
CHESAPEAKE ENERGY CORP	PFD CONV	165167842	214	3,650	SH		DFND		0	0	3,650
CHEVRON CORP NEW	COM	166764100	1,466	18,522	SH		DFND		0	0	18,522
CHUBB CORP	COM	171232101	465	3,797	SH		DFND		0	0	3,797
CIENA CORP	NOTE 0.875% 6/1	171779AE1	10	10,000	PRN		DFND		0	0	10,000
CIGNA CORPORATION	COM	125509109	482	3,580	SH		DFND		0	0	3,580
CINCINNATI BELL INC NEW	PFD CV DEP1/20	171871403	1,075	22,448	SH		DFND		0	0	22,448
CIRRUS LOGIC INC	COM	172755100	495	15,675	SH		DFND		0	0	15,675
CISCO SYS INC	COM	17275R102	825	31,157	SH		DFND		0	0	31,157
CLOROX CO DEL	COM	189054109	506	4,337	SH		DFND		0	0	4,337
COCA COLA CO	COM	191216100	1,781	44,494	SH		DFND		0	0	44,494
COGNIZANT TECHNOLOGY SOLUTIO	CL A	192446102	634	10,139	SH		DFND		0	0	10,139
COLGATE PALMOLIVE CO	COM	194162103	914	14,425	SH		DFND		0	0	14,425
COMCAST CORP NEW	CL A	20030N101	287	4,995	SH		DFND		0	0	4,995
CONNECTONE BANCORP INC NEW	COM	20786W107	196	10,100	SH		DFND		0	0	10,100
CONNECTURE INC	COM	20786J106	77	16,975	SH		DFND		0	0	16,975
CONOCOPHILLIPS	COM	20825C104	357	7,440	SH		DFND		0	0	7,440
CONSTELLIUM NV	CL A	N22035104	61	10,000	SH		DFND		0	0	10,000
COSTCO WHSL CORP NEW	COM	22160K105	1,489	10,317	SH		DFND		0	0	10,317
CVS HEALTH CORP	COM	126650100	865	8,975	SH		DFND		0	0	8,975
DANAHER CORP DEL	COM	235851102	2,572	30,197	SH		DFND		0	0	30,197
DANAHER CORP DEL	NOTE 1/2	235851AF9	38	16,000	PRN		DFND		0	0	16,000
DAVITA HEALTHCARE PARTNERS I	COM	23918K108	2,034	28,159	SH		DFND		0	0	28,159
DEERE & CO	COM	244199105	605	8,165	SH		DFND		0	0	8,165
DIAGEO P L C	SPON ADR NEW	25243Q205	580	5,398	SH		DFND		0	0	5,398
DISNEY WALT CO	COM DISNEY	254687106	1,994	19,523	SH		DFND		0	0	19,523
DOMINION RES INC VA NEW	COM	25746U109	970	13,807	SH		DFND		0	0	13,807
DOUBLELINE OPPORTUNISTIC CR	COM	258623107	290	11,700	SH		DFND		0	0	11,700
DOW CHEM CO	COM	260543103	335	7,781	SH		DFND		0	0	7,781
DU PONT E I DE NEMOURS & CO	COM	263534109	808	16,798	SH		DFND		0	0	16,798
DUKE ENERGY CORP NEW	COM NEW	26441C204	1,232	17,073	SH		DFND		0	0	17,073
EASTERLY GOVT PPTYS INC	COM	27616P103	408	25,564	SH		DFND		0	0	25,564
EATON CORP PLC	SHS	G29183103	271	5,281	SH		DFND		0	0	5,281
EATON VANCE TAX MNGD GBL DV	COM	27829F108	103	12,340	SH		DFND		0	0	12,340
EATON VANCE TX MGD DIV EQ IN	COM	27828N102	106	10,245	SH		DFND		0	0	10,245
ECOLAB INC	COM	278865100	578	5,257	SH		DFND		0	0	5,257
EMERSON ELEC CO	COM	291011104	674	15,388	SH		DFND		0	0	15,388
ENERGY TRANSFER PRTNRS L P	UNIT LTD PARTN	29273R109	215	5,237	SH		DFND		0	0	5,237
ENTERPRISE PRODS PARTNERS L	COM	293792107	1,682	67,478	SH		DFND		0	0	67,478
EQUIFAX INC	COM	294429105	2,780	28,606	SH		DFND		0	0	28,606
EXELON CORP	COM	30161N101	325	10,920	SH		DFND		0	0	10,920
EXPRESS SCRIPTS HLDG CO	COM	30219G108	4,033	49,921	SH		DFND		0	0	49,921
EXXON MOBIL CORP	COM	30231G102	5,830	78,467	SH		DFND		0	0	78,467
FACEBOOK INC	CL A	30303M102	2,964	33,019	SH		DFND		0	0	33,019
FAIR ISAAC CORP	COM	303250104	801	9,515	SH		DFND		0	0	9,515
FASTENAL CO	COM	311900104	229	6,278	SH		DFND		0	0	6,278
FIAT CHRYSLER AUTOMOBILES N	SHS	N31738102	165	12,500	SH		DFND		0	0	12,500
FIDELITY NATL INFORMATION SV	COM	31620M106	1,210	18,032	SH		DFND		0	0	18,032
FIFTH STREET FINANCE CORP	COM	31678A103	181	29,700	SH		DFND		0	0	29,700
FIRST TR EXCHANGE-TRADED FD	PFD SECS INC ETF	33739E108	241	12,800	SH		DFND		0	0	12,800
FMC TECHNOLOGIES INC	COM	30249U101	289	9,341	SH		DFND		0	0	9,341
FORD MTR CO DEL	COM PAR $0.01	345370860	845	62,537	SH		DFND		0	0	62,537
FORTINET INC	COM	34959E109	225	5,305	SH		DFND		0	0	5,305
GAMESTOP CORP NEW	CL A	36467W109	911	22,153	SH		DFND		0	0	22,153
GENERAL DYNAMICS CORP	COM	369550108	600	4,346	SH		DFND		0	0	4,346
GENERAL ELECTRIC CO	COM	369604103	4,231	167,748	SH		DFND		0	0	167,748
GENERAL MLS INC	COM	370334104	639	11,388	SH		DFND		0	0	11,388
GILEAD SCIENCES INC	COM	375558103	1,111	11,315	SH		DFND		0	0	11,315
GOLDMAN SACHS GROUP INC	COM	38141G104	290	1,667	SH		DFND		0	0	1,667
GOLUB CAP BDC INC	COM	38173M102	611	38,307	SH		DFND		0	0	38,307
GOOGLE INC	CL A	38259P508	5,141	8,049	SH		DFND		0	0	8,049
GOOGLE INC	CL C	38259P706	3,557	5,858	SH		DFND		0	0	5,858
HAMILTON BANCORP INC MD	COM	407015106	140	10,000	SH		DFND		0	0	10,000
HCP INC	COM	40414L109	209	5,625	SH		DFND		0	0	5,625
HD SUPPLY HLDGS INC	COM	40416M105	1,111	38,845	SH		DFND		0	0	38,845
HEALTHWAYS INC	COM	422245100	111	10,000	SH		DFND		0	0	10,000
HELIX ENERGY SOLUTIONS GRP I	NOTE 3.250% 3/1	42330PAG2	26	34,000	PRN		DFND		0	0	34,000
HEXCEL CORP NEW	COM	428291108	237	5,352	SH		DFND		0	0	5,352
HOLOGIC INC	COM	436440101	305	7,823	SH		DFND		0	0	7,823
HOLOGIC INC	DEBT 2.000% 3/0	436440AC5	23	17,000	PRN		DFND		0	0	17,000
HOME DEPOT INC	COM	437076102	1,092	9,415	SH		DFND		0	0	9,415
HOMEAWAY INC	COM	43739Q100	259	9,673	SH		DFND		0	0	9,673
HONEYWELL INTL INC	COM	438516106	498	5,254	SH		DFND		0	0	5,254
HORIZON TECHNOLOGY FIN CORP	COM	44045A102	215	23,650	SH		DFND		0	0	23,650
HUNTINGTON BANCSHARES INC	COM	446150104	113	10,362	SH		DFND		0	0	10,362
ILLUMINA INC	COM	452327109	510	2,903	SH		DFND		0	0	2,903
ILLUMINA INC	NOTE 0.500% 6/1	452327AH2	28	26,000	PRN		DFND		0	0	26,000
IMS HEALTH HLDGS INC	COM	44970B109	274	9,425	SH		DFND		0	0	9,425
INGERSOLL-RAND PLC	SHS	G47791101	298	5,861	SH		DFND		0	0	5,861
INTEL CORP	COM	458140100	2,472	82,026	SH		DFND		0	0	82,026
INTEL CORP	SDCV 12/1	458140AD2	11	10,000	PRN		DFND		0	0	10,000
INTEL CORP	SDCV 3.250% 8/0	458140AF7	18	10,000	PRN		DFND		0	0	10,000
INTERNATIONAL BUSINESS MACHS	COM	459200101	2,424	16,723	SH		DFND		0	0	16,723
INTUITIVE SURGICAL INC	COM NEW	46120E602	1,029	2,238	SH		DFND		0	0	2,238
ISHARES GOLD TRUST	ISHARES	464285105	212	19,670	SH		DFND		0	0	19,670
ISHARES SILVER TRUST	ISHARES	46428Q109	157	11,270	SH		DFND		0	0	11,270
ISHARES TR	10-20 YR TRS ETF	464288653	293	2,135	SH		DFND		0	0	2,135
ISHARES TR	20+ YR TR BD ETF	464287432	2,617	21,150	SH		DFND		0	0	21,150
ISHARES TR	3-7 YR TR BD ETF	464288661	328	2,630	SH		DFND		0	0	2,630
ISHARES TR	CORE S&P MCP ETF	464287507	492	3,604	SH		DFND		0	0	3,604
ISHARES TR	CORE S&P SCP ETF	464287804	419	3,933	SH		DFND		0	0	3,933
ISHARES TR	CORE S&P500 ETF	464287200	490	2,551	SH		DFND		0	0	2,551
ISHARES TR	CORE US AGGBD ET	464287226	897	8,180	SH		DFND		0	0	8,180
ISHARES TR	CORE US CR BD	464288620	361	3,316	SH		DFND		0	0	3,316
ISHARES TR	EAFE SML CP ETF	464288273	301	6,324	SH		DFND		0	0	6,324
ISHARES TR	FLTG RATE BD ETF	46429B655	677	13,421	SH		DFND		0	0	13,421
ISHARES TR	IBOXX HI YD ETF	464288513	373	4,482	SH		DFND		0	0	4,482
ISHARES TR	IBOXX INV CP ETF	464287242	586	5,046	SH		DFND		0	0	5,046
ISHARES TR	MSCI EAFE ETF	464287465	291	5,087	SH		DFND		0	0	5,087
ISHARES TR	MSCI EMG MKT ETF	464287234	628	19,144	SH		DFND		0	0	19,144
ISHARES TR	NASDQ BIOTEC ETF	464287556	357	1,169	SH		DFND		0	0	1,169
ISHARES TR	RUS 1000 GRW ETF	464287614	1,226	13,170	SH		DFND		0	0	13,170
ISHARES TR	RUS 1000 VAL ETF	464287598	1,069	11,458	SH		DFND		0	0	11,458
ISHARES TR	RUS 2000 GRW ETF	464287648	297	2,213	SH		DFND		0	0	2,213
ISHARES TR	S&P MC 400GR ETF	464287606	511	3,249	SH		DFND		0	0	3,249
ISHARES TR	SELECT DIVID ETF	464287168	1,265	17,367	SH		DFND		0	0	17,367
ISHARES TR	TIPS BD ETF	464287176	449	4,077	SH		DFND		0	0	4,077
JACOBS ENGR GROUP INC DEL	COM	469814107	419	11,203	SH		DFND		0	0	11,203
JARDEN CORP	NOTE 1.875% 9/1	471109AH1	41	26,000	PRN		DFND		0	0	26,000
JOHNSON & JOHNSON	COM	478160104	5,403	57,907	SH		DFND		0	0	57,907
JOHNSON CTLS INC	COM	478366107	224	5,381	SH		DFND		0	0	5,381
JPMORGAN CHASE & CO	COM	46625H100	2,752	45,094	SH		DFND		0	0	45,094
KAYNE ANDERSON MLP INVT CO	COM	486606106	1,381	59,618	SH		DFND		0	0	59,618
KIMBERLY CLARK CORP	COM	494368103	455	4,158	SH		DFND		0	0	4,158
KINDER MORGAN INC DEL	COM	49456B101	2,729	98,721	SH		DFND		0	0	98,721
KING DIGITAL ENTMT PLC	ORD SHS	G5258J109	415	30,700	SH		DFND		0	0	30,700
KRAFT HEINZ CO	COM	500754106	533	7,504	SH		DFND		0	0	7,504
LAM RESEARCH CORP	NOTE 1.250% 5/1	512807AL2	23	17,000	PRN		DFND		0	0	17,000
LAUDER ESTEE COS INC	CL A	518439104	600	7,405	SH		DFND		0	0	7,405
LAZARD LTD	SHS A	G54050102	500	11,605	SH		DFND		0	0	11,605
LIBERTY GLOBAL PLC	SHS CL A	G5480U104	281	6,595	SH		DFND		0	0	6,595
LIBERTY MEDIA CORP DELAWARE	NOTE 1.375%10/1	531229AB8	26	26,000	PRN		DFND		0	0	26,000
LILLY ELI & CO	COM	532457108	376	4,497	SH		DFND		0	0	4,497
LOCKHEED MARTIN CORP	COM	539830109	319	1,535	SH		DFND		0	0	1,535
LOWES COS INC	COM	548661107	300	4,339	SH		DFND		0	0	4,339
M & T BK CORP	COM	55261F104	1,219	10,000	SH		DFND		0	0	10,000
MACQUARIE INFRASTRUCTURE COR	NOTE 2.875% 7/1	55608BAA3	28	26,000	PRN		DFND		0	0	26,000
MADISON SQUARE GARDEN CO	CL A	55826P100	270	3,748	SH		DFND		0	0	3,748
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	304	5,074	SH		DFND		0	0	5,074
MARKEL CORP	COM	570535104	582	727	SH		DFND		0	0	727
MARKET VECTORS ETF TR	GOLD MINER ETF	57060U100	431	31,555	SH		DFND		0	0	31,555
MASIMO CORP	COM	574795100	279	7,250	SH		DFND		0	0	7,250
MASTERCARD INC	CL A	57636Q104	5,313	58,902	SH		DFND		0	0	58,902
MCCORMICK & CO INC	COM NON VTG	579780206	1,516	18,452	SH		DFND		0	0	18,452
MCCORMICK & CO INC	COM VTG	579780107	1,113	13,571	SH		DFND		0	0	13,571
MCDONALDS CORP	COM	580135101	840	8,502	SH		DFND		0	0	8,502
MCGRAW HILL FINL INC	COM	580645109	411	4,742	SH		DFND		0	0	4,742
MCKESSON CORP	COM	58155Q103	478	2,571	SH		DFND		0	0	2,571
MEAD JOHNSON NUTRITION CO	COM	582839106	445	6,329	SH		DFND		0	0	6,329
MEDIDATA SOLUTIONS INC	NOTE 1.000% 8/0	58471AAB1	21	21,000	PRN		DFND		0	0	21,000
MELCO CROWN ENTMT LTD	ADR	585464100	256	18,600	SH		DFND		0	0	18,600
MERCK & CO INC NEW	COM	58933Y105	3,671	74,287	SH		DFND		0	0	74,287
METLIFE INC	COM	59156R108	1,096	23,286	SH		DFND		0	0	23,286
MICROCHIP TECHNOLOGY INC	COM	595017104	565	13,165	SH		DFND		0	0	13,165
MICROCHIP TECHNOLOGY INC	SDCV 2.125%12/1	595017AB0	19	10,000	PRN		DFND		0	0	10,000
MICROSOFT CORP	COM	594918104	4,095	92,594	SH		DFND		0	0	92,594
MOLINA HEALTHCARE INC	DBCV 1.625% 8/1	60855RAD2	27	20,000	PRN		DFND		0	0	20,000
MONDELEZ INTL INC	CL A	609207105	1,732	41,477	SH		DFND		0	0	41,477
MORGAN STANLEY	COM NEW	617446448	227	7,128	SH		DFND		0	0	7,128
NETFLIX INC	COM	64110L106	577	5,600	SH		DFND		0	0	5,600
NEWPARK RES INC	NOTE 4.000%10/0	651718AC2	23	24,000	PRN		DFND		0	0	24,000
NEXTERA ENERGY INC	COM	65339F101	439	4,486	SH		DFND		0	0	4,486
NIELSEN HLDGS PLC	SHS EUR	G6518L108	244	5,480	SH		DFND		0	0	5,480
NORDSTROM INC	COM	655664100	297	4,140	SH		DFND		0	0	4,140
NOVARTIS A G	SPONSORED ADR	66987V109	656	7,125	SH		DFND		0	0	7,125
NUANCE COMMUNICATIONS INC	NOTE 2.750%11/0	67020YAF7	25	25,000	PRN		DFND		0	0	25,000
NUSTAR GP HOLDINGS LLC	UNIT RESTG LLC	67059L102	249	9,371	SH		DFND		0	0	9,371
NUVEEN MD PREM INCOME MUN FD	COM	67061Q107	158	12,868	SH		DFND		0	0	12,868
NUVEEN MUN VALUE FD INC	COM	670928100	288	29,285	SH		DFND		0	0	29,285
NXP SEMICONDUCTORS N V	COM	N6596X109	616	7,086	SH		DFND		0	0	7,086
NYMOX PHARMACEUTICAL CORP	COM	67076P102	96	28,000	SH		DFND		0	0	28,000
OAKTREE CAP GROUP LLC	UNIT CL A	674001201	258	5,200	SH		DFND		0	0	5,200
OCCIDENTAL PETE CORP DEL	COM	674599105	463	6,979	SH		DFND		0	0	6,979
ON SEMICONDUCTOR CORP	NOTE 2.625%12/1	682189AH8	28	26,000	PRN		DFND		0	0	26,000
ORACLE CORP	COM	68389X105	1,213	33,754	SH		DFND		0	0	33,754
PAREXEL INTL CORP	COM	699462107	519	8,390	SH		DFND		0	0	8,390
PAYPAL HLDGS INC	COM	70450Y103	394	12,639	SH		DFND		0	0	12,639
PEPSICO INC	COM	713448108	3,838	40,747	SH		DFND		0	0	40,747
PFIZER INC	COM	717081103	1,422	45,251	SH		DFND		0	0	45,251
PHILIP MORRIS INTL INC	COM	718172109	1,048	13,157	SH		DFND		0	0	13,157
PHILLIPS 66	COM	718546104	477	6,188	SH		DFND		0	0	6,188
PLAINS ALL AMERN PIPELINE L	UNIT LTD PARTN	726503105	326	10,763	SH		DFND		0	0	10,763
PNC FINL SVCS GROUP INC	COM	693475105	1,127	12,621	SH		DFND		0	0	12,621
POTASH CORP SASK INC	COM	73755L107	224	10,865	SH		DFND		0	0	10,865
POWERSHARES ETF TR II	S&P500 LOW VOL	73937B779	333	9,264	SH		DFND		0	0	9,264
POWERSHARES ETF TRUST	DWA MOMENTUM PTF	73935X153	655	16,300	SH		DFND		0	0	16,300
POWERSHARES GLOBAL ETF TRUST	AGG PFD PORT	73936T565	233	15,991	SH		DFND		0	0	15,991
POWERSHS DB US DOLLAR INDEX	DOLL INDX BULL	73936D107	250	9,900	SH		DFND		0	0	9,900
PRICE T ROWE GROUP INC	COM	74144T108	2,220	31,827	SH		DFND		0	0	31,827
PRICELINE GRP INC	COM NEW	741503403	742	602	SH		DFND		0	0	602
PRICELINE GRP INC	NOTE 1.000% 3/1	741503AQ9	12	10,000	PRN		DFND		0	0	10,000
PROCTER & GAMBLE CO	COM	742718109	6,184	85,971	SH		DFND		0	0	85,971
QUALCOMM INC	COM	747525103	3,037	56,602	SH		DFND		0	0	56,602
REGIONS FINL CORP NEW	COM	7591EP100	222	24,436	SH		DFND		0	0	24,436
RYDEX ETF TRUST	GUG RUSS TOP 50	78355W205	299	2,245	SH		DFND		0	0	2,245
RYDEX ETF TRUST	GUG S&P500 EQ WT	78355W106	5,215	70,865	SH		DFND		0	0	70,865
SALESFORCE COM INC	COM	79466L302	1,262	18,170	SH		DFND		0	0	18,170
SALESFORCE COM INC	NOTE 0.250% 4/0	79466LAD6	26	22,000	PRN		DFND		0	0	22,000
SALIENT MIDSTREAM & MLP FD	SH BEN INT	79471V105	144	10,300	SH		DFND		0	0	10,300
SANDISK CORP	NOTE 0.500%10/1	80004CAF8	26	26,000	PRN		DFND		0	0	26,000
SANOFI	SPONSORED ADR	80105N105	946	19,928	SH		DFND		0	0	19,928
SBA COMMUNICATIONS CORP	COM	78388J106	449	4,291	SH		DFND		0	0	4,291
SCHLUMBERGER LTD	COM	806857108	3,313	47,989	SH		DFND		0	0	47,989
SCHWAB CHARLES CORP NEW	COM	808513105	3,634	127,188	SH		DFND		0	0	127,188
SCHWAB STRATEGIC TR	US BRD MKT ETF	808524102	1,527	32,930	SH		DFND		0	0	32,930
SELECT SECTOR SPDR TR	SBI INT-ENERGY	81369Y506	408	6,683	SH		DFND		0	0	6,683
SELECT SECTOR SPDR TR	SBI INT-FINL	81369Y605	339	14,880	SH		DFND		0	0	14,880
SIGMA ALDRICH CORP	COM	826552101	246	1,770	SH		DFND		0	0	1,770
SIRIUS XM HLDGS INC	COM	82968B103	65	17,313	SH		DFND		0	0	17,313
SOLARCITY CORP	NOTE 2.750%11/0	83416TAA8	17	18,000	PRN		DFND		0	0	18,000
SOUTHERN CO	COM	842587107	238	5,363	SH		DFND		0	0	5,363
SPDR GOLD TRUST	GOLD SHS	78463V107	226	2,114	SH		DFND		0	0	2,114
SPDR INDEX SHS FDS	S&P EMKTSC ETF	78463X756	508	13,742	SH		DFND		0	0	13,742
SPDR S&P 500 ETF TR	TR UNIT	78462F103	638	3,323	SH		DFND		0	0	3,323
SPDR SERIES TRUST	S&P DIVID ETF	78464A763	261	3,609	SH		DFND		0	0	3,609
SPECTRA ENERGY CORP	COM	847560109	516	19,648	SH		DFND		0	0	19,648
STANLEY BLACK & DECKER INC	COM	854502101	357	3,680	SH		DFND		0	0	3,680
STARBUCKS CORP	COM	855244109	3,142	55,205	SH		DFND		0	0	55,205
STERICYCLE INC	COM	858912108	2,174	15,618	SH		DFND		0	0	15,618
STRYKER CORP	COM	863667101	1,190	12,654	SH		DFND		0	0	12,654
SUNTRUST BKS INC	COM	867914103	486	12,742	SH		DFND		0	0	12,742
SUPERVALU INC	COM	868536103	287	40,000	SH		DFND		0	0	40,000
TARGET CORP	COM	87612E106	869	10,995	SH		DFND		0	0	10,995
TELEFLEX INC	NOTE 3.875% 8/0	879369AA4	56	27,000	PRN		DFND		0	0	27,000
TESLA MTRS INC	COM	88160R101	495	1,994	SH		DFND		0	0	1,994
TEVA PHARMACEUTICAL FIN LLC	DBCV 0.250% 2/0	88163VAE9	23	17,000	PRN		DFND		0	0	17,000
TEVA PHARMACEUTICAL INDS LTD	ADR	881624209	691	12,215	SH		DFND		0	0	12,215
TEXAS INSTRS INC	COM	882508104	240	4,851	SH		DFND		0	0	4,851
TOWERS WATSON & CO	CL A	891894107	322	2,745	SH		DFND		0	0	2,745
TRANSDIGM GROUP INC	COM	893641100	426	2,009	SH		DFND		0	0	2,009
TRIPADVISOR INC	COM	896945201	793	12,528	SH		DFND		0	0	12,528
TWITTER INC	COM	90184L102	463	17,270	SH		DFND		0	0	17,270
UBS AG JERSEY BRH	CMCI ETN 38	902641778	272	20,328	SH		DFND		0	0	20,328
UNDER ARMOUR INC	CL A	904311107	4,519	46,712	SH		DFND		0	0	46,712
UNILEVER N V	N Y SHS NEW	904784709	335	8,334	SH		DFND		0	0	8,334
UNILEVER PLC	SPON ADR NEW	904767704	360	8,857	SH		DFND		0	0	8,857
UNION PAC CORP	COM	907818108	343	3,875	SH		DFND		0	0	3,875
UNITED PARCEL SERVICE INC	CL B	911312106	753	7,644	SH		DFND		0	0	7,644
UNITED TECHNOLOGIES CORP	COM	913017109	463	5,181	SH		DFND		0	0	5,181
UNITEDHEALTH GROUP INC	COM	91324P102	538	4,626	SH		DFND		0	0	4,626
UNIVERSAL DISPLAY CORP	COM	91347P105	644	19,000	SH		DFND		0	0	19,000
VALERO ENERGY PARTNERS LP	COM UNT REP LP	91914J102	209	4,750	SH		DFND		0	0	4,750
VANGUARD INDEX FDS	MID CAP ETF	922908629	579	4,960	SH		DFND		0	0	4,960
VANGUARD INDEX FDS	REIT ETF	922908553	708	9,349	SH		DFND		0	0	9,349
VANGUARD SPECIALIZED PORTFOL	DIV APP ETF	921908844	1,228	16,673	SH		DFND		0	0	16,673
VERINT SYS INC	NOTE 1.500% 6/0	92343XAA8	24	25,000	PRN		DFND		0	0	25,000
VERISK ANALYTICS INC	COM	92345Y106	627	8,498	SH		DFND		0	0	8,498
VERIZON COMMUNICATIONS INC	COM	92343V104	4,199	96,407	SH		DFND		0	0	96,407
VIPSHOP HLDGS LTD	SPONSORED ADR	92763W103	248	14,755	SH		DFND		0	0	14,755
VISA INC	COM CL A	92826C839	3,631	52,092	SH		DFND		0	0	52,092
VOYA FINL INC	COM	929089100	459	11,740	SH		DFND		0	0	11,740
W P CAREY INC	COM	92936U109	765	13,256	SH		DFND		0	0	13,256
WABASH NATL CORP	NOTE 3.375% 5/0	929566AH0	18	17,000	PRN		DFND		0	0	17,000
WABTEC CORP	COM	929740108	573	6,522	SH		DFND		0	0	6,522
WALGREENS BOOTS ALLIANCE INC	COM	931427108	865	10,422	SH		DFND		0	0	10,422
WAL-MART STORES INC	COM	931142103	521	8,034	SH		DFND		0	0	8,034
WASTE CONNECTIONS INC	COM	941053100	733	15,054	SH		DFND		0	0	15,054
WATERS CORP	COM	941848103	208	1,750	SH		DFND		0	0	1,750
WELLS FARGO & CO NEW	COM	949746101	1,883	36,718	SH		DFND		0	0	36,718
WELLTOWER INC	COM	95040Q104	732	10,821	SH		DFND		0	0	10,821
WESCO INTL INC	DBCV 6.000% 9/1	95082PAH8	18	10,000	PRN		DFND		0	0	10,000
WESTERN ASSET MUN HI INCM FD	COM	95766N103	259	35,534	SH		DFND		0	0	35,534
WHOLE FOODS MKT INC	COM	966837106	210	6,624	SH		DFND		0	0	6,624
WISDOMTREE TR	EUROPE HEDGED EQ	97717X701	503	9,209	SH		DFND		0	0	9,209
WYNN RESORTS LTD	COM	983134107	223	4,205	SH		DFND		0	0	4,205
XILINX INC	NOTE 2.625% 6/1	983919AF8	24	17,000	PRN		DFND		0	0	17,000
XPO LOGISTICS INC	NOTE 4.500%10/0	983793AA8	20	15,000	PRN		DFND		0	0	15,000
YUM BRANDS INC	COM	988498101	448	5,590	SH		DFND		0	0	5,590