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	1,785	10,184	SH		DFND		0	0	10,184
ABBOTT LABS	COM	002824100	1,127	28,607	SH		DFND		0	0	28,607
ABBVIE INC	COM	00287Y109	2,610	42,157	SH		DFND		0	0	42,157
ACCENTURE PLC IRELAND	SHS CLASS A	G1151C101	2,961	26,146	SH		DFND		0	0	26,146
ACNB CORP	COM	000868109	393	15,659	SH		DFND		0	0	15,659
ACUITY BRANDS INC	COM	00508Y102	372	1,504	SH		DFND		0	0	1,504
ADOBE SYS INC	COM	00724F101	291	3,041	SH		DFND		0	0	3,041
AETNA INC NEW	COM	00817Y108	253	2,093	SH		DFND		0	0	2,093
AFLAC INC	COM	001055102	252	3,478	SH		DFND		0	0	3,478
AIR LEASE CORP	NOTE 3.875%12/0	00912XAK0	14	12,000	PRN		DFND		0	0	12,000
AIR PRODS & CHEMS INC	COM	009158106	517	3,649	SH		DFND		0	0	3,649
AKAMAI TECHNOLOGIES INC	COM	00971T101	348	6,257	SH		DFND		0	0	6,257
ALEXION PHARMACEUTICALS INC	COM	015351109	338	2,865	SH		DFND		0	0	2,865
ALIBABA GROUP HLDG LTD	SPONSORED ADS	01609W102	814	10,208	SH		DFND		0	0	10,208
ALLERGAN PLC	SHS	G0177J108	410	1,785	SH		DFND		0	0	1,785
ALPHABET INC	CAP STK CL A	02079K305	6,348	9,010	SH		DFND		0	0	9,010
ALPHABET INC	CAP STK CL C	02079K107	4,002	5,783	SH		DFND		0	0	5,783
ALTRIA GROUP INC	COM	02209S103	1,622	23,540	SH		DFND		0	0	23,540
AMAZON COM INC	COM	023135106	8,530	11,918	SH		DFND		0	0	11,918
AMERICAN EXPRESS CO	COM	025816109	990	16,353	SH		DFND		0	0	16,353
AMERICAN TOWER CORP NEW	COM	03027X100	2,253	19,874	SH		DFND		0	0	19,874
AMGEN INC	COM	031162100	767	5,019	SH		DFND		0	0	5,019
AMPHENOL CORP NEW	CL A	032095101	295	5,159	SH		DFND		0	0	5,159
ANADARKO PETE CORP	COM	032511107	457	8,563	SH		DFND		0	0	8,563
APACHE CORP	COM	037411105	551	9,920	SH		DFND		0	0	9,920
APPLE INC	COM	037833100	12,852	134,368	SH		DFND		0	0	134,368
ARGAN INC	COM	04010E109	239	5,725	SH		DFND		0	0	5,725
ASTRONICS CORP	COM	046433108	388	11,658	SH		DFND		0	0	11,658
AT&T INC	COM	00206R102	3,095	71,608	SH		DFND		0	0	71,608
ATLAS AIR WORLDWIDE HLDGS IN	NOTE 2.250% 6/0	049164BH8	20	20,000	PRN		DFND		0	0	20,000
AUTODESK INC	COM	052769106	247	4,568	SH		DFND		0	0	4,568
AUTOMATIC DATA PROCESSING IN	COM	053015103	420	4,556	SH		DFND		0	0	4,556
AVALONBAY CMNTYS INC	COM	053484101	612	3,395	SH		DFND		0	0	3,395
AVERY DENNISON CORP	COM	053611109	324	4,343	SH		DFND		0	0	4,343
BAIDU INC	SPON ADR REP A	056752108	1,548	9,368	SH		DFND		0	0	9,368
BANK AMER CORP	COM	060505104	343	25,806	SH		DFND		0	0	25,806
BB&T CORP	COM	054937107	230	6,475	SH		DFND		0	0	6,475
BERKSHIRE HATHAWAY INC DEL	CL A	084670108	217	1	SH		DFND		0	0	1
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	4,519	31,241	SH		DFND		0	0	31,241
BIOMARIN PHARMACEUTICAL INC	NOTE 0.750%10/1	09061GAE1	19	18,000	PRN		DFND		0	0	18,000
BLACKSTONE GROUP L P	COM UNIT LTD	09253U108	289	11,737	SH		DFND		0	0	11,737
BOEING CO	COM	097023105	381	2,950	SH		DFND		0	0	2,950
BOTTOMLINE TECH DEL INC	NOTE 1.500%12/0	101388AA4	12	12,000	PRN		DFND		0	0	12,000
BP PLC	SPONSORED ADR	055622104	471	13,231	SH		DFND		0	0	13,231
BRIGHT HORIZONS FAM SOL IN D	COM	109194100	707	10,675	SH		DFND		0	0	10,675
BRISTOL MYERS SQUIBB CO	COM	110122108	3,618	49,222	SH		DFND		0	0	49,222
BROOKFIELD ASSET MGMT INC	CL A LTD VT SH	112585104	871	26,394	SH		DFND		0	0	26,394
BROOKFIELD INFRAST PARTNERS	LP INT UNIT	G16252101	756	16,776	SH		DFND		0	0	16,776
CANADIAN NATL RY CO	COM	136375102	527	8,930	SH		DFND		0	0	8,930
CARMAX INC	COM	143130102	505	10,278	SH		DFND		0	0	10,278
CATERPILLAR INC DEL	COM	149123101	757	9,972	SH		DFND		0	0	9,972
CEL SCI CORP	COM PAR $0.01	150837508	37	80,000	SH		DFND		0	0	80,000
CELGENE CORP	COM	151020104	357	3,608	SH		DFND		0	0	3,608
CHART INDS INC	NOTE 2.000% 8/0	16115QAC4	12	12,000	PRN		DFND		0	0	12,000
CHEVRON CORP NEW	COM	166764100	1,984	18,989	SH		DFND		0	0	18,989
CHUBB LIMITED	COM	H1467J104	591	4,520	SH		DFND		0	0	4,520
CIGNA CORPORATION	COM	125509109	615	4,809	SH		DFND		0	0	4,809
CINCINNATI BELL INC NEW	PFD CV DEP1/20	171871403	1,108	22,264	SH		DFND		0	0	22,264
CIRRUS LOGIC INC	COM	172755100	582	15,050	SH		DFND		0	0	15,050
CISCO SYS INC	COM	17275R102	1,258	43,958	SH		DFND		0	0	43,958
CLOROX CO DEL	COM	189054109	627	4,508	SH		DFND		0	0	4,508
COBALT INTL ENERGY INC	COM	19075F106	67	50,000	SH		DFND		0	0	50,000
COCA COLA CO	COM	191216100	1,745	38,533	SH		DFND		0	0	38,533
COGNIZANT TECHNOLOGY SOLUTIO	CL A	192446102	578	10,140	SH		DFND		0	0	10,140
COLGATE PALMOLIVE CO	COM	194162103	1,083	14,797	SH		DFND		0	0	14,797
COMCAST CORP NEW	CL A	20030N101	372	5,721	SH		DFND		0	0	5,721
CONNECTURE INC	COM	20786J106	48	21,111	SH		DFND		0	0	21,111
CONOCOPHILLIPS	COM	20825C104	273	6,276	SH		DFND		0	0	6,276
CONSTELLIUM NV	CL A	N22035104	47	10,000	SH		DFND		0	0	10,000
COSTCO WHSL CORP NEW	COM	22160K105	1,671	10,618	SH		DFND		0	0	10,618
CROWN CASTLE INTL CORP NEW	COM	22822V101	508	5,021	SH		DFND		0	0	5,021
CVS HEALTH CORP	COM	126650100	1,978	20,691	SH		DFND		0	0	20,691
DANAHER CORP DEL	COM	235851102	2,785	27,614	SH		DFND		0	0	27,614
DANAHER CORP DEL	NOTE 1/2	235851AF9	36	12,000	PRN		DFND		0	0	12,000
DAVITA HEALTHCARE PARTNERS I	COM	23918K108	2,466	31,993	SH		DFND		0	0	31,993
DEERE & CO	COM	244199105	566	6,965	SH		DFND		0	0	6,965
DELPHI AUTOMOTIVE PLC	SHS	G27823106	270	4,315	SH		DFND		0	0	4,315
DEPOMED INC	NOTE 2.500% 9/0	249908AA2	19	17,000	PRN		DFND		0	0	17,000
DIAGEO P L C	SPON ADR NEW	25243Q205	501	4,448	SH		DFND		0	0	4,448
DISNEY WALT CO	COM DISNEY	254687106	2,733	27,907	SH		DFND		0	0	27,907
DOLLAR GEN CORP NEW	COM	256677105	456	4,845	SH		DFND		0	0	4,845
DOMINION RES INC VA NEW	COM	25746U109	1,130	14,496	SH		DFND		0	0	14,496
DOUBLELINE OPPORTUNISTIC CR	COM	258623107	313	11,700	SH		DFND		0	0	11,700
DOW CHEM CO	COM	260543103	411	8,222	SH		DFND		0	0	8,222
DU PONT E I DE NEMOURS & CO	COM	263534109	794	12,260	SH		DFND		0	0	12,260
DUKE ENERGY CORP NEW	COM NEW	26441C204	1,614	18,863	SH		DFND		0	0	18,863
EASTERLY GOVT PPTYS INC	COM	27616P103	692	34,987	SH		DFND		0	0	34,987
EATON CORP PLC	SHS	G29183103	235	3,921	SH		DFND		0	0	3,921
EATON VANCE TAX MNGD GBL DV	COM	27829F108	106	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
ECLIPSE RES CORP	COM	27890G100	67	20,000	SH		DFND		0	0	20,000
ECOLAB INC	COM	278865100	575	4,852	SH		DFND		0	0	4,852
EMERSON ELEC CO	COM	291011104	727	13,972	SH		DFND		0	0	13,972
ENTERPRISE PRODS PARTNERS L	COM	293792107	1,611	55,067	SH		DFND		0	0	55,067
EOG RES INC	COM	26875P101	218	2,593	SH		DFND		0	0	2,593
EQUIFAX INC	COM	294429105	3,673	28,606	SH		DFND		0	0	28,606
EXELON CORP	COM	30161N101	374	10,315	SH		DFND		0	0	10,315
EXPRESS SCRIPTS HLDG CO	COM	30219G108	3,685	48,625	SH		DFND		0	0	48,625
EXXON MOBIL CORP	COM	30231G102	7,544	80,489	SH		DFND		0	0	80,489
FACEBOOK INC	CL A	30303M102	3,774	33,036	SH		DFND		0	0	33,036
FAIR ISAAC CORP	COM	303250104	437	3,857	SH		DFND		0	0	3,857
FASTENAL CO	COM	311900104	216	4,839	SH		DFND		0	0	4,839
FIAT CHRYSLER AUTOMOBILES N	SHS	N31738102	153	25,000	SH		DFND		0	0	25,000
FIDELITY NATL INFORMATION SV	COM	31620M106	1,335	18,122	SH		DFND		0	0	18,122
FIFTH STREET FINANCE CORP	COM	31678A103	136	28,200	SH		DFND		0	0	28,200
FIRST TR EXCHANGE TRADED FD	NY ARCA BIOTECH	33733E203	367	4,100	SH		DFND		0	0	4,100
FIRST TR EXCHANGE-TRADED FD	PFD SECS INC ETF	33739E108	259	13,600	SH		DFND		0	0	13,600
FORD MTR CO DEL	COM PAR $0.01	345370860	1,725	137,331	SH		DFND		0	0	137,331
GAMCO GLOBAL GOLD NAT RES &	COM SH BEN INT	36465A109	107	16,481	SH		DFND		0	0	16,481
GAMESTOP CORP NEW	CL A	36467W109	565	21,151	SH		DFND		0	0	21,151
GENERAL DYNAMICS CORP	COM	369550108	1,110	7,963	SH		DFND		0	0	7,963
GENERAL ELECTRIC CO	COM	369604103	5,986	190,257	SH		DFND		0	0	190,257
GENERAL MLS INC	COM	370334104	798	11,178	SH		DFND		0	0	11,178
GILEAD SCIENCES INC	COM	375558103	856	10,199	SH		DFND		0	0	10,199
GOLUB CAP BDC INC	COM	38173M102	746	41,324	SH		DFND		0	0	41,324
HAMILTON BANCORP INC MD	COM	407015106	139	10,000	SH		DFND		0	0	10,000
HANCOCK JOHN PFD INCOME FD I	COM	41021P103	241	12,048	SH		DFND		0	0	12,048
HCP INC	COM	40414L109	201	5,685	SH		DFND		0	0	5,685
HD SUPPLY HLDGS INC	COM	40416M105	1,326	38,145	SH		DFND		0	0	38,145
HEALTHWAYS INC	COM	422245100	116	10,000	SH		DFND		0	0	10,000
HELIX ENERGY SOLUTIONS GRP I	NOTE 3.250% 3/1	42330PAG2	24	27,000	PRN		DFND		0	0	27,000
HEXCEL CORP NEW	COM	428291108	370	8,882	SH		DFND		0	0	8,882
HOLOGIC INC	COM	436440101	285	8,226	SH		DFND		0	0	8,226
HOLOGIC INC	DEBT 2.000% 3/0	436440AC5	15	12,000	PRN		DFND		0	0	12,000
HOME DEPOT INC	COM	437076102	1,186	9,289	SH		DFND		0	0	9,289
HONEYWELL INTL INC	COM	438516106	597	5,138	SH		DFND		0	0	5,138
HORIZON TECHNOLOGY FIN CORP	COM	44045A102	294	24,200	SH		DFND		0	0	24,200
HUNTINGTON BANCSHARES INC	COM	446150104	101	11,106	SH		DFND		0	0	11,106
ICON PLC	SHS	G4705A100	504	7,200	SH		DFND		0	0	7,200
ILLINOIS TOOL WKS INC	COM	452308109	270	2,582	SH		DFND		0	0	2,582
ILLUMINA INC	NOTE 0.500% 6/1	452327AH2	20	20,000	PRN		DFND		0	0	20,000
IMS HEALTH HLDGS INC	COM	44970B109	264	10,409	SH		DFND		0	0	10,409
INGERSOLL-RAND PLC	SHS	G47791101	362	5,693	SH		DFND		0	0	5,693
INTEL CORP	COM	458140100	2,529	77,089	SH		DFND		0	0	77,089
INTERNATIONAL BUSINESS MACHS	COM	459200101	2,630	17,352	SH		DFND		0	0	17,352
INTUITIVE SURGICAL INC	COM NEW	46120E602	1,340	2,028	SH		DFND		0	0	2,028
ISHARES GOLD TRUST	ISHARES	464285105	251	19,670	SH		DFND		0	0	19,670
ISHARES SILVER TRUST	ISHARES	46428Q109	183	10,270	SH		DFND		0	0	10,270
ISHARES TR	10-20 YR TRS ETF	464288653	534	3,644	SH		DFND		0	0	3,644
ISHARES TR	1-3 YR CR BD ETF	464288646	740	6,967	SH		DFND		0	0	6,967
ISHARES TR	1-3 YR TR BD ETF	464287457	818	9,590	SH		DFND		0	0	9,590
ISHARES TR	20 YR TR BD ETF	464287432	5,226	37,594	SH		DFND		0	0	37,594
ISHARES TR	3-7 YR TR BD ETF	464288661	773	6,075	SH		DFND		0	0	6,075
ISHARES TR	CORE HIGH DV ETF	46429B663	1,013	12,315	SH		DFND		0	0	12,315
ISHARES TR	CORE MSCITOTAL	46432F834	729	14,860	SH		DFND		0	0	14,860
ISHARES TR	CORE S&P MCP ETF	464287507	1,337	8,977	SH		DFND		0	0	8,977
ISHARES TR	CORE S&P SCP ETF	464287804	1,280	11,013	SH		DFND		0	0	11,013
ISHARES TR	CORE S&P500 ETF	464287200	1,920	9,118	SH		DFND		0	0	9,118
ISHARES TR	CORE US AGGBD ET	464287226	3,645	32,332	SH		DFND		0	0	32,332
ISHARES TR	CORE US CR BD	464288620	358	3,156	SH		DFND		0	0	3,156
ISHARES TR	EAFE SML CP ETF	464288273	308	6,324	SH		DFND		0	0	6,324
ISHARES TR	IBOXX HI YD ETF	464288513	308	3,642	SH		DFND		0	0	3,642
ISHARES TR	IBOXX INV CP ETF	464287242	447	3,662	SH		DFND		0	0	3,662
ISHARES TR	MSCI EAFE ETF	464287465	305	5,478	SH		DFND		0	0	5,478
ISHARES TR	MSCI EMG MKT ETF	464287234	606	17,579	SH		DFND		0	0	17,579
ISHARES TR	NASDQ BIOTEC ETF	464287556	203	793	SH		DFND		0	0	793
ISHARES TR	RUS 1000 GRW ETF	464287614	959	9,554	SH		DFND		0	0	9,554
ISHARES TR	RUS 1000 VAL ETF	464287598	816	7,911	SH		DFND		0	0	7,911
ISHARES TR	RUS 2000 GRW ETF	464287648	272	1,983	SH		DFND		0	0	1,983
ISHARES TR	S&P MC 400GR ETF	464287606	556	3,288	SH		DFND		0	0	3,288
ISHARES TR	S&P MC 400VL ETF	464287705	300	2,346	SH		DFND		0	0	2,346
ISHARES TR	SELECT DIVID ETF	464287168	2,545	29,811	SH		DFND		0	0	29,811
ISHARES TR	TIPS BD ETF	464287176	365	3,132	SH		DFND		0	0	3,132
JOHNSON & JOHNSON	COM	478160104	7,186	59,200	SH		DFND		0	0	59,200
JOHNSON CTLS INC	COM	478366107	262	5,934	SH		DFND		0	0	5,934
JPMORGAN CHASE & CO	COM	46625H100	3,085	49,658	SH		DFND		0	0	49,658
KAYNE ANDERSON MLP INVT CO	COM	486606106	245	12,010	SH		DFND		0	0	12,010
KIMBERLY CLARK CORP	COM	494368103	626	4,574	SH		DFND		0	0	4,574
KINDER MORGAN INC DEL	COM	49456B101	733	39,164	SH		DFND		0	0	39,164
KRAFT HEINZ CO	COM	500754106	754	8,517	SH		DFND		0	0	8,517
LANDSTAR SYS INC	COM	515098101	235	3,416	SH		DFND		0	0	3,416
LAUDER ESTEE COS INC	CL A	518439104	653	7,163	SH		DFND		0	0	7,163
LIBERTY GLOBAL PLC	SHS CL A	G5480U104	221	7,605	SH		DFND		0	0	7,605
LIBERTY MEDIA CORP DELAWARE	NOTE 1.375%10/1	531229AB8	20	20,000	PRN		DFND		0	0	20,000
LILLY ELI & CO	COM	532457108	530	6,735	SH		DFND		0	0	6,735
LOCKHEED MARTIN CORP	COM	539830109	243	983	SH		DFND		0	0	983
LOWES COS INC	COM	548661107	406	5,105	SH		DFND		0	0	5,105
M & T BK CORP	COM	55261F104	782	6,610	SH		DFND		0	0	6,610
MACQUARIE INFRASTRUCTURE COR	NOTE 2.875% 7/1	55608BAA3	22	20,000	PRN		DFND		0	0	20,000
MAGELLAN MIDSTREAM PRTNRS LP	COM UNIT RP LP	559080106	603	7,960	SH		DFND		0	0	7,960
MARKEL CORP	COM	570535104	635	665	SH		DFND		0	0	665
MASTERCARD INC	CL A	57636Q104	5,171	58,744	SH		DFND		0	0	58,744
MCCORMICK & CO INC	COM NON VTG	579780206	2,119	19,876	SH		DFND		0	0	19,876
MCCORMICK & CO INC	COM VTG	579780107	1,440	13,571	SH		DFND		0	0	13,571
MCDONALDS CORP	COM	580135101	887	7,390	SH		DFND		0	0	7,390
MCKESSON CORP	COM	58155Q103	692	3,713	SH		DFND		0	0	3,713
MEAD JOHNSON NUTRITION CO	COM	582839106	555	6,118	SH		DFND		0	0	6,118
MEDIDATA SOLUTIONS INC	NOTE 1.000% 8/0	58471AAB1	18	17,000	PRN		DFND		0	0	17,000
MELCO CROWN ENTMT LTD	ADR	585464100	234	18,600	SH		DFND		0	0	18,600
MERCK & CO INC	COM	58933Y105	4,055	70,277	SH		DFND		0	0	70,277
METLIFE INC	COM	59156R108	776	19,453	SH		DFND		0	0	19,453
MICROCHIP TECHNOLOGY INC	COM	595017104	725	14,219	SH		DFND		0	0	14,219
MICROSOFT CORP	COM	594918104	5,305	103,669	SH		DFND		0	0	103,669
MOLINA HEALTHCARE INC	DBCV 1.625% 8/1	60855RAD2	17	16,000	PRN		DFND		0	0	16,000
MONDELEZ INTL INC	CL A	609207105	1,899	41,799	SH		DFND		0	0	41,799
MONSANTO CO NEW	COM	61166W101	210	2,033	SH		DFND		0	0	2,033
NETFLIX INC	COM	64110L106	604	6,599	SH		DFND		0	0	6,599
NEWELL BRANDS INC	COM	651229106	309	6,372	SH		DFND		0	0	6,372
NEWPARK RES INC	NOTE 4.000%10/0	651718AC2	17	18,000	PRN		DFND		0	0	18,000
NEXTERA ENERGY INC	COM	65339F101	592	4,541	SH		DFND		0	0	4,541
NIELSEN HLDGS PLC	SHS EUR	G6518L108	284	5,477	SH		DFND		0	0	5,477
NOVARTIS A G	SPONSORED ADR	66987V109	505	6,145	SH		DFND		0	0	6,145
NUANCE COMMUNICATIONS INC	NOTE 2.750%11/0	67020YAF7	21	21,000	PRN		DFND		0	0	21,000
NUSTAR GP HOLDINGS LLC	UNIT RESTG LLC	67059L102	254	9,871	SH		DFND		0	0	9,871
NUVEEN MD PREM INCOME MUN FD	COM	67061Q107	203	14,318	SH		DFND		0	0	14,318
NUVEEN MUN VALUE FD INC	COM	670928100	317	29,285	SH		DFND		0	0	29,285
NXP SEMICONDUCTORS N V	COM	N6596X109	677	8,598	SH		DFND		0	0	8,598
NYMOX PHARMACEUTICAL CORP	COM	P73398102	94	28,000	SH		DFND		0	0	28,000
OAKTREE CAP GROUP LLC	UNIT CL A	674001201	243	5,400	SH		DFND		0	0	5,400
OASIS PETE INC NEW	COM	674215108	93	10,000	SH		DFND		0	0	10,000
OCCIDENTAL PETE CORP DEL	COM	674599105	674	8,883	SH		DFND		0	0	8,883
ON SEMICONDUCTOR CORP	NOTE 2.625%12/1	682189AH8	20	20,000	PRN		DFND		0	0	20,000
ORACLE CORP	COM	68389X105	1,212	29,671	SH		DFND		0	0	29,671
PAYPAL HLDGS INC	COM	70450Y103	825	22,616	SH		DFND		0	0	22,616
PEPSICO INC	COM	713448108	4,509	42,549	SH		DFND		0	0	42,549
PFIZER INC	COM	717081103	1,705	48,346	SH		DFND		0	0	48,346
PHILIP MORRIS INTL INC	COM	718172109	1,347	13,265	SH		DFND		0	0	13,265
PHILLIPS 66	COM	718546104	615	7,724	SH		DFND		0	0	7,724
PNC FINL SVCS GROUP INC	COM	693475105	907	11,151	SH		DFND		0	0	11,151
POWERSHARES ETF TR II	PFD PORTFOLIO	73936T565	357	23,481	SH		DFND		0	0	23,481
POWERSHARES ETF TR II	S&P500 LOW VOL	73937B779	632	14,782	SH		DFND		0	0	14,782
POWERSHARES ETF TRUST	DWA MOMENTUM PTF	73935X153	523	12,452	SH		DFND		0	0	12,452
POWERSHARES QQQ TRUST	UNIT SER 1	73935A104	388	3,611	SH		DFND		0	0	3,611
PPG INDS INC	COM	693506107	224	2,154	SH		DFND		0	0	2,154
PRICE T ROWE GROUP INC	COM	74144T108	2,268	31,137	SH		DFND		0	0	31,137
PRICELINE GRP INC	COM NEW	741503403	901	724	SH		DFND		0	0	724
PROCTER & GAMBLE CO	COM	742718109	7,431	87,818	SH		DFND		0	0	87,818
PUBLIC SVC ENTERPRISE GROUP	COM	744573106	209	4,489	SH		DFND		0	0	4,489
QUALCOMM INC	COM	747525103	3,396	63,472	SH		DFND		0	0	63,472
RED HAT INC	NOTE 0.250%10/0	756577AD4	23	20,000	PRN		DFND		0	0	20,000
RYDEX ETF TRUST	GUG S&P500 EQ WT	78355W106	5,401	67,249	SH		DFND		0	0	67,249
RYDEX ETF TRUST	GUGGENHM S&P 500	78355W205	584	3,945	SH		DFND		0	0	3,945
S&P GLOBAL INC	COM	78409V104	508	4,737	SH		DFND		0	0	4,737
SALESFORCE COM INC	COM	79466L302	2,367	29,733	SH		DFND		0	0	29,733
SALESFORCE COM INC	NOTE 0.250% 4/0	79466LAD6	22	17,000	PRN		DFND		0	0	17,000
SALIENT MIDSTREAM & MLP FD	SH BEN INT	79471V105	154	13,807	SH		DFND		0	0	13,807
SBA COMMUNICATIONS CORP	COM	78388J106	548	5,078	SH		DFND		0	0	5,078
SCHLUMBERGER LTD	COM	806857108	3,352	42,332	SH		DFND		0	0	42,332
SCHWAB CHARLES CORP NEW	COM	808513105	3,397	134,248	SH		DFND		0	0	134,248
SCHWAB STRATEGIC TR	US BRD MKT ETF	808524102	1,680	33,410	SH		DFND		0	0	33,410
SELECT SECTOR SPDR TR	SBI INT-ENERGY	81369Y506	455	6,688	SH		DFND		0	0	6,688
SERVICENOW INC	NOTE 11/0	81762PAB8	17	16,000	PRN		DFND		0	0	16,000
SIRIUS XM HLDGS INC	COM	82968B103	60	15,313	SH		DFND		0	0	15,313
SOUTHERN CO	COM	842587107	269	5,038	SH		DFND		0	0	5,038
SPDR GOLD TRUST	GOLD SHS	78463V107	388	3,064	SH		DFND		0	0	3,064
SPDR INDEX SHS FDS	S&P EMKTSC ETF	78463X756	447	11,312	SH		DFND		0	0	11,312
SPDR S&P 500 ETF TR	TR UNIT	78462F103	2,065	9,855	SH		DFND		0	0	9,855
SPDR SERIES TRUST	S&P DIVID ETF	78464A763	424	5,066	SH		DFND		0	0	5,066
SPECTRA ENERGY CORP	COM	847560109	1,071	29,216	SH		DFND		0	0	29,216
STARBUCKS CORP	COM	855244109	3,229	56,510	SH		DFND		0	0	56,510
STERICYCLE INC	COM	858912108	909	8,735	SH		DFND		0	0	8,735
STRYKER CORP	COM	863667101	1,516	12,654	SH		DFND		0	0	12,654
SUNTRUST BKS INC	COM	867914103	391	9,558	SH		DFND		0	0	9,558
SUPERVALU INC	COM	868536103	94	20,000	SH		DFND		0	0	20,000
SYSCO CORP	COM	871829107	237	4,682	SH		DFND		0	0	4,682
TARGET CORP	COM	87612E106	665	9,503	SH		DFND		0	0	9,503
TELEFLEX INC	NOTE 3.875% 8/0	879369AA4	59	21,000	PRN		DFND		0	0	21,000
TEVA PHARMACEUTICAL FIN LLC	DBCV 0.250% 2/0	88163VAE9	15	12,000	PRN		DFND		0	0	12,000
TEVA PHARMACEUTICAL INDS LTD	ADR	881624209	637	12,658	SH		DFND		0	0	12,658
TEXAS INSTRS INC	COM	882508104	310	4,964	SH		DFND		0	0	4,964
THERMO FISHER SCIENTIFIC INC	COM	883556102	353	2,388	SH		DFND		0	0	2,388
TRANSDIGM GROUP INC	COM	893641100	562	2,131	SH		DFND		0	0	2,131
TRAVELERS COMPANIES INC	COM	89417E109	275	2,302	SH		DFND		0	0	2,302
TRIPADVISOR INC	COM	896945201	909	14,109	SH		DFND		0	0	14,109
TWITTER INC	COM	90184L102	354	21,000	SH		DFND		0	0	21,000
UBS AG JERSEY BRH	CMCI ETN 38	902641778	260	18,690	SH		DFND		0	0	18,690
ULTIMATE SOFTWARE GROUP INC	COM	90385D107	352	1,665	SH		DFND		0	0	1,665
UNDER ARMOUR INC	CL A	904311107	2,246	56,125	SH		DFND		0	0	56,125
UNDER ARMOUR INC	CL C	904311206	2,249	61,950	SH		DFND		0	0	61,950
UNILEVER N V	N Y SHS NEW	904784709	522	11,170	SH		DFND		0	0	11,170
UNILEVER PLC	SPON ADR NEW	904767704	305	6,345	SH		DFND		0	0	6,345
UNION PAC CORP	COM	907818108	305	3,502	SH		DFND		0	0	3,502
UNITED PARCEL SERVICE INC	CL B	911312106	1,162	10,780	SH		DFND		0	0	10,780
UNITED TECHNOLOGIES CORP	COM	913017109	570	5,545	SH		DFND		0	0	5,545
UNITEDHEALTH GROUP INC	COM	91324P102	595	4,234	SH		DFND		0	0	4,234
UNIVERSAL DISPLAY CORP	COM	91347P105	1,288	19,000	SH		DFND		0	0	19,000
VANECK VECTORS ETF TR	AMT FREE INT ETF	92189F544	348	13,980	SH		DFND		0	0	13,980
VANECK VECTORS ETF TR	GOLD MINERS ETF	92189F106	1,060	38,080	SH		DFND		0	0	38,080
VANGUARD INDEX FDS	MID CAP ETF	922908629	601	4,871	SH		DFND		0	0	4,871
VANGUARD INDEX FDS	REIT ETF	922908553	1,503	16,929	SH		DFND		0	0	16,929
VANGUARD SCOTTSDALE FDS	SHRT TRM CORP BD	92206C409	360	4,445	SH		DFND		0	0	4,445
VANGUARD SCOTTSDALE FDS	VNG RUS2000GRW	92206C623	246	2,500	SH		DFND		0	0	2,500
VANGUARD SPECIALIZED PORTFOL	DIV APP ETF	921908844	1,098	13,194	SH		DFND		0	0	13,194
VERINT SYS INC	NOTE 1.500% 6/0	92343XAA8	18	19,000	PRN		DFND		0	0	19,000
VERISK ANALYTICS INC	COM	92345Y106	585	7,258	SH		DFND		0	0	7,258
VERIZON COMMUNICATIONS INC	COM	92343V104	5,480	97,978	SH		DFND		0	0	97,978
VISA INC	COM CL A	92826C839	4,142	55,862	SH		DFND		0	0	55,862
VOYA FINL INC	COM	929089100	237	9,500	SH		DFND		0	0	9,500
W P CAREY INC	COM	92936U109	821	11,752	SH		DFND		0	0	11,752
WABASH NATL CORP	NOTE 3.375% 5/0	929566AH0	14	12,000	PRN		DFND		0	0	12,000
WALGREENS BOOTS ALLIANCE INC	COM	931427108	239	2,879	SH		DFND		0	0	2,879
WAL-MART STORES INC	COM	931142103	580	7,954	SH		DFND		0	0	7,954
WASTE CONNECTIONS INC	COM	94106B101	968	13,453	SH		DFND		0	0	13,453
WEATHERFORD INTL LTD	NOTE 5.875% 7/0	947075AH0	21	20,000	PRN		DFND		0	0	20,000
WEC ENERGY GROUP INC	COM	92939U106	237	3,628	SH		DFND		0	0	3,628
WELLS FARGO & CO NEW	COM	949746101	1,899	40,165	SH		DFND		0	0	40,165
WELLTOWER INC	COM	95040Q104	612	8,011	SH		DFND		0	0	8,011
WESTERN ASSET MUN HI INCM FD	COM	95766N103	688	83,454	SH		DFND		0	0	83,454
WILLIS TOWERS WATSON PUB LTD	SHS	G96629103	266	2,143	SH		DFND		0	0	2,143
WISDOMTREE INVTS INC	COM	97717P104	132	13,350	SH		DFND		0	0	13,350
WISDOMTREE TR	EUROPE HEDGED EQ	97717X701	274	5,426	SH		DFND		0	0	5,426
WYNN RESORTS LTD	COM	983134107	260	2,862	SH		DFND		0	0	2,862
XILINX INC	NOTE 2.625% 6/1	983919AF8	21	12,000	PRN		DFND		0	0	12,000
XPO LOGISTICS INC	NOTE 4.500%10/0	983793AA8	19	11,000	PRN		DFND		0	0	11,000
YUM BRANDS INC	COM	988498101	583	7,030	SH		DFND		0	0	7,030
ZIMMER BIOMET HLDGS INC	COM	98956P102	233	1,944	SH		DFND		0	0	1,944