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	693	4,006	SH		DFND		0	0	4,006
ABBOTT LABS	COM	002824100	2,766	32,917	SH		DFND		0	0	32,917
ABBVIE INC	COM	00287Y109	2,925	40,258	SH		DFND		0	0	40,258
ACCENTURE PLC IRELAND	SHS CLASS A	G1151C101	5,338	28,881	SH		DFND		0	0	28,881
ADOBE INC	COM	00724F101	527	1,790	SH		DFND		0	0	1,790
AIR PRODS & CHEMS INC	COM	009158106	293	1,293	SH		DFND		0	0	1,293
ALIBABA GROUP HLDG LTD	SPONSORED ADS	01609W102	3,448	20,357	SH		DFND		0	0	20,357
ALLSTATE CORP	COM	020002101	451	4,438	SH		DFND		0	0	4,438
ALPHABET INC	CAP STK CL A	02079K305	7,060	6,528	SH		DFND		0	0	6,528
ALPHABET INC	CAP STK CL C	02079K107	5,262	4,871	SH		DFND		0	0	4,871
ALTRIA GROUP INC	COM	02209S103	665	14,040	SH		DFND		0	0	14,040
AMAZON COM INC	COM	023135106	20,932	11,058	SH		DFND		0	0	11,058
AMERICAN EXPRESS CO	COM	025816109	1,417	11,459	SH		DFND		0	0	11,459
AMERICAN TOWER CORP NEW	COM	03027X100	2,403	11,762	SH		DFND		0	0	11,762
AMGEN INC	COM	031162100	1,146	6,209	SH		DFND		0	0	6,209
AMPHENOL CORP NEW	CL A	032095101	313	3,273	SH		DFND		0	0	3,273
ANADARKO PETE CORP	COM	032511107	267	3,798	SH		DFND		0	0	3,798
ANTARES PHARMA INC	COM	036642106	905	275,000	SH		DFND		0	0	275,000
ANTHEM INC	COM	036752103	655	2,321	SH		DFND		0	0	2,321
APPLE INC	COM	037833100	22,317	112,692	SH		DFND		0	0	112,692
ARES MANAGEMENT CORPORATION	CL A COM STK	03990B101	467	17,900	SH		DFND		0	0	17,900
AT&T INC	COM	00206R102	1,878	55,821	SH		DFND		0	0	55,821
AUTODESK INC	COM	052769106	403	2,489	SH		DFND		0	0	2,489
AUTOHOME INC	SP ADR RP CL A	05278C107	209	2,444	SH		DFND		0	0	2,444
AUTOMATIC DATA PROCESSING IN	COM	053015103	477	2,886	SH		DFND		0	0	2,886
AVALONBAY CMNTYS INC	COM	053484101	587	2,888	SH		DFND		0	0	2,888
BAIDU INC	SPON ADR REP A	056752108	555	4,723	SH		DFND		0	0	4,723
BANK AMER CORP	COM	060505104	1,788	61,696	SH		DFND		0	0	61,696
BB&T CORP	COM	054937107	293	5,983	SH		DFND		0	0	5,983
BECTON DICKINSON & CO	COM	075887109	555	2,199	SH		DFND		0	0	2,199
BERKSHIRE HATHAWAY INC DEL	CL A	084670108	318	1	SH		DFND		0	0	1
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	3,517	16,482	SH		DFND		0	0	16,482
BLACKSTONE GROUP L P	COM UNIT LTD	09253U108	697	15,677	SH		DFND		0	0	15,677
BOEING CO	COM	097023105	1,116	3,062	SH		DFND		0	0	3,062
BOOKING HLDGS INC	COM	09857L108	433	231	SH		DFND		0	0	231
BP PLC	SPONSORED ADR	055622104	349	8,342	SH		DFND		0	0	8,342
BRIGHT HORIZONS FAM SOL IN D	COM	109194100	230	1,519	SH		DFND		0	0	1,519
BRISTOL MYERS SQUIBB CO	COM	110122108	574	12,639	SH		DFND		0	0	12,639
BROADCOM INC	COM	11135F101	781	2,713	SH		DFND		0	0	2,713
CANADIAN NATL RY CO	COM	136375102	702	7,585	SH		DFND		0	0	7,585
CARMAX INC	COM	143130102	303	3,484	SH		DFND		0	0	3,484
CATERPILLAR INC DEL	COM	149123101	467	3,426	SH		DFND		0	0	3,426
CHEVRON CORP NEW	COM	166764100	1,361	10,967	SH		DFND		0	0	10,967
CHUBB LIMITED	COM	H1467J104	226	1,527	SH		DFND		0	0	1,527
CIGNA CORP NEW	COM	125523100	616	3,897	SH		DFND		0	0	3,897
CINCINNATI BELL INC NEW	PFD CV DEP1/20	171871403	1,084	29,202	SH		DFND		0	0	29,202
CISCO SYS INC	COM	17275R102	4,468	81,641	SH		DFND		0	0	81,641
CLOROX CO DEL	COM	189054109	238	1,552	SH		DFND		0	0	1,552
COCA COLA CO	COM	191216100	1,371	26,941	SH		DFND		0	0	26,941
COGNIZANT TECHNOLOGY SOLUTIO	CL A	192446102	512	8,081	SH		DFND		0	0	8,081
COHEN & STEERS QUALITY RLTY	COM	19247L106	206	15,091	SH		DFND		0	0	15,091
COLGATE PALMOLIVE CO	COM	194162103	444	6,161	SH		DFND		0	0	6,161
COMCAST CORP NEW	CL A	20030N101	458	10,910	SH		DFND		0	0	10,910
CONOCOPHILLIPS	COM	20825C104	723	11,846	SH		DFND		0	0	11,846
CORTEVA INC	COM	22052L104	291	9,768	SH		DFND		0	0	9,768
COSTCO WHSL CORP NEW	COM	22160K105	1,416	5,347	SH		DFND		0	0	5,347
CROWN CASTLE INTL CORP NEW	COM	22822V101	212	1,625	SH		DFND		0	0	1,625
CVS HEALTH CORP	COM	126650100	6,225	114,167	SH		DFND		0	0	114,167
DANAHER CORPORATION	COM	235851102	1,494	10,442	SH		DFND		0	0	10,442
DEERE & CO	COM	244199105	656	3,952	SH		DFND		0	0	3,952
DELTA AIR LINES INC DEL	COM NEW	247361702	302	5,311	SH		DFND		0	0	5,311
DIAGEO P L C	SPON ADR NEW	25243Q205	756	4,384	SH		DFND		0	0	4,384
DISNEY WALT CO	COM DISNEY	254687106	4,413	31,551	SH		DFND		0	0	31,551
DOMINION ENERGY INC	COM	25746U109	1,212	15,682	SH		DFND		0	0	15,682
DOW INC	COM	260557103	614	12,364	SH		DFND		0	0	12,364
DUKE ENERGY CORP NEW	COM NEW	26441C204	705	8,004	SH		DFND		0	0	8,004
DUPONT DE NEMOURS INC	COM	26614N102	774	10,365	SH		DFND		0	0	10,365
EASTERLY GOVT PPTYS INC	COM	27616P103	415	22,997	SH		DFND		0	0	22,997
EATON CORP PLC	SHS	G29183103	250	3,029	SH		DFND		0	0	3,029
EATON VANCE TAX MNGD GBL DV	COM	27829F108	92	11,140	SH		DFND		0	0	11,140
EATON VANCE TX MGD DIV EQ IN	COM	27828N102	123	10,245	SH		DFND		0	0	10,245
ECOLAB INC	COM	278865100	1,128	5,704	SH		DFND		0	0	5,704
EDWARDS LIFESCIENCES CORP	COM	28176E108	516	2,790	SH		DFND		0	0	2,790
EMERSON ELEC CO	COM	291011104	788	11,779	SH		DFND		0	0	11,779
ENBRIDGE INC	COM	29250N105	2,218	61,555	SH		DFND		0	0	61,555
ENTERPRISE PRODS PARTNERS L	COM	293792107	749	25,874	SH		DFND		0	0	25,874
EQUIFAX INC	COM	294429105	4,583	33,890	SH		DFND		0	0	33,890
EVERSOURCE ENERGY	COM	30040W108	222	2,916	SH		DFND		0	0	2,916
EXELIXIS INC	COM	30161Q104	427	20,000	SH		DFND		0	0	20,000
EXELON CORP	COM	30161N101	211	4,374	SH		DFND		0	0	4,374
EXXON MOBIL CORP	COM	30231G102	3,383	44,111	SH		DFND		0	0	44,111
FACEBOOK INC	CL A	30303M102	4,660	24,116	SH		DFND		0	0	24,116
FERRARI N V	COM	N3167Y103	202	1,250	SH		DFND		0	0	1,250
FIAT CHRYSLER AUTOMOBILES N	SHS	N31738102	173	12,500	SH		DFND		0	0	12,500
FIDELITY NATL INFORMATION SV	COM	31620M106	2,153	17,548	SH		DFND		0	0	17,548
FIRST HORIZON NATL CORP	COM	320517105	195	13,039	SH		DFND		0	0	13,039
FIRST TR EXCHANGE TRADED FD	NY ARCA BIOTECH	33733E203	2,154	15,328	SH		DFND		0	0	15,328
FIRST TR EXCHANGE TRADED FD	SENIOR LN FD	33738D309	302	6,380	SH		DFND		0	0	6,380
FIRST TR EXCHANGE-TRADED FD	PFD SECS INC ETF	33739E108	1,862	95,938	SH		DFND		0	0	95,938
FORD MTR CO DEL	COM	345370860	478	46,812	SH		DFND		0	0	46,812
FORTIVE CORP	COM	34959J108	295	3,644	SH		DFND		0	0	3,644
GAMCO GLOBAL GOLD NAT RES &	COM SH BEN INT	36465A109	59	12,960	SH		DFND		0	0	12,960
GAMESTOP CORP NEW	CL A	36467W109	142	26,503	SH		DFND		0	0	26,503
GENERAL DYNAMICS CORP	COM	369550108	2,338	12,856	SH		DFND		0	0	12,856
GENERAL ELECTRIC CO	COM	369604103	574	54,673	SH		DFND		0	0	54,673
GILEAD SCIENCES INC	COM	375558103	1,607	23,773	SH		DFND		0	0	23,773
GOLUB CAP BDC INC	COM	38173M102	668	37,491	SH		DFND		0	0	37,491
HANCOCK JOHN PFD INCOME FD I	COM	41021P103	288	14,963	SH		DFND		0	0	14,963
HD SUPPLY HLDGS INC	COM	40416M105	1,190	29,659	SH		DFND		0	0	29,659
HOME DEPOT INC	COM	437076102	2,346	11,273	SH		DFND		0	0	11,273
HONEYWELL INTL INC	COM	438516106	541	3,099	SH		DFND		0	0	3,099
HORIZON TECHNOLOGY FIN CORP	COM	44045A102	203	17,100	SH		DFND		0	0	17,100
ICON PLC	SHS	G4705A100	1,109	7,200	SH		DFND		0	0	7,200
INGERSOLL-RAND PLC	SHS	G47791101	420	3,308	SH		DFND		0	0	3,308
INTEL CORP	COM	458140100	5,200	108,646	SH		DFND		0	0	108,646
INTERNATIONAL BUSINESS MACHS	COM	459200101	2,804	20,331	SH		DFND		0	0	20,331
INTUIT	COM	461202103	1,606	6,144	SH		DFND		0	0	6,144
INTUITIVE SURGICAL INC	COM NEW	46120E602	3,878	7,394	SH		DFND		0	0	7,394
INVESCO EXCHANGE TRADED FD T	S&P500 EQL WGT	46137V357	5,585	51,787	SH		DFND		0	0	51,787
INVESCO QQQ TR	UNIT SER 1	46090E103	732	3,922	SH		DFND		0	0	3,922
IONIS PHARMACEUTICALS INC	COM	462222100	308	4,800	SH		DFND		0	0	4,800
ISHARES GOLD TRUST	ISHARES	464285105	474	35,095	SH		DFND		0	0	35,095
ISHARES INC	CORE MSCI EMKT	46434G103	1,435	27,892	SH		DFND		0	0	27,892
ISHARES INC	MSCI EM ASIA ETF	464286426	711	10,739	SH		DFND		0	0	10,739
ISHARES TR	20 YR TR BD ETF	464287432	596	4,485	SH		DFND		0	0	4,485
ISHARES TR	BARCLAYS 7 10 YR	464287440	578	5,250	SH		DFND		0	0	5,250
ISHARES TR	CORE HIGH DV ETF	46429B663	209	2,204	SH		DFND		0	0	2,204
ISHARES TR	CORE MSCI TOTAL	46432F834	959	16,321	SH		DFND		0	0	16,321
ISHARES TR	CORE S&P MCP ETF	464287507	1,644	8,464	SH		DFND		0	0	8,464
ISHARES TR	CORE S&P SCP ETF	464287804	1,775	22,671	SH		DFND		0	0	22,671
ISHARES TR	CORE S&P500 ETF	464287200	4,751	16,121	SH		DFND		0	0	16,121
ISHARES TR	CORE US AGGBD ET	464287226	739	6,647	SH		DFND		0	0	6,647
ISHARES TR	FLTG RATE NT ETF	46429B655	645	12,618	SH		DFND		0	0	12,618
ISHARES TR	IBOXX HI YD ETF	464288513	200	2,292	SH		DFND		0	0	2,292
ISHARES TR	MSCI ACWI EX US	464288240	836	17,880	SH		DFND		0	0	17,880
ISHARES TR	MSCI EAFE ETF	464287465	567	8,642	SH		DFND		0	0	8,642
ISHARES TR	MSCI EMG MKT ETF	464287234	1,347	31,352	SH		DFND		0	0	31,352
ISHARES TR	NASDAQ BIOTECH	464287556	203	1,864	SH		DFND		0	0	1,864
ISHARES TR	RUS 1000 ETF	464287622	673	4,142	SH		DFND		0	0	4,142
ISHARES TR	RUS 1000 GRW ETF	464287614	514	3,274	SH		DFND		0	0	3,274
ISHARES TR	RUS 1000 VAL ETF	464287598	1,972	15,464	SH		DFND		0	0	15,464
ISHARES TR	RUS 2000 GRW ETF	464287648	948	4,729	SH		DFND		0	0	4,729
ISHARES TR	RUS 2000 VAL ETF	464287630	1,236	10,267	SH		DFND		0	0	10,267
ISHARES TR	RUS MID CAP ETF	464287499	210	3,754	SH		DFND		0	0	3,754
ISHARES TR	S&P MC 400GR ETF	464287606	346	1,529	SH		DFND		0	0	1,529
ISHARES TR	S&P SML 600 GWT	464287887	201	1,107	SH		DFND		0	0	1,107
ISHARES TR	SELECT DIVID ETF	464287168	1,635	16,431	SH		DFND		0	0	16,431
ISHARES TR	SHRT NAT MUN ETF	464288158	681	6,387	SH		DFND		0	0	6,387
ISHARES TR	TIPS BD ETF	464287176	242	2,099	SH		DFND		0	0	2,099
ISHARES TR	U.S. UTILITS ETF	464287697	317	2,100	SH		DFND		0	0	2,100
JACOBS ENGR GROUP INC	COM	469814107	733	8,679	SH		DFND		0	0	8,679
JOHNSON & JOHNSON	COM	478160104	3,978	28,525	SH		DFND		0	0	28,525
JPMORGAN CHASE & CO	COM	46625H100	11,273	100,798	SH		DFND		0	0	100,798
KIMBERLY CLARK CORP	COM	494368103	401	3,014	SH		DFND		0	0	3,014
KINDER MORGAN INC DEL	COM	49456B101	645	30,948	SH		DFND		0	0	30,948
LILLY ELI & CO	COM	532457108	659	5,962	SH		DFND		0	0	5,962
LOWES COS INC	COM	548661107	495	4,926	SH		DFND		0	0	4,926
M & T BK CORP	COM	55261F104	733	4,311	SH		DFND		0	0	4,311
MARRIOTT INTL INC NEW	CL A	571903202	311	2,224	SH		DFND		0	0	2,224
MARTEN TRANS LTD	COM	573075108	272	15,000	SH		DFND		0	0	15,000
MASIMO CORP	COM	574795100	1,479	9,937	SH		DFND		0	0	9,937
MASTERCARD INC	CL A	57636Q104	14,491	54,793	SH		DFND		0	0	54,793
MCCORMICK & CO INC	COM NON VTG	579780206	2,288	14,741	SH		DFND		0	0	14,741
MCDONALDS CORP	COM	580135101	1,218	5,860	SH		DFND		0	0	5,860
MEDIDATA SOLUTIONS INC	COM	58471A105	516	5,700	SH		DFND		0	0	5,700
MEDTRONIC PLC	SHS	G5960L103	473	4,856	SH		DFND		0	0	4,856
MERCK & CO INC	COM	58933Y105	4,936	58,825	SH		DFND		0	0	58,825
METLIFE INC	COM	59156R108	3,994	80,405	SH		DFND		0	0	80,405
MICROSOFT CORP	COM	594918104	14,986	111,901	SH		DFND		0	0	111,901
MONDELEZ INTL INC	CL A	609207105	465	8,662	SH		DFND		0	0	8,662
NETFLIX INC	COM	64110L106	540	1,471	SH		DFND		0	0	1,471
NEXTERA ENERGY INC	COM	65339F101	511	2,500	SH		DFND		0	0	2,500
NIKE INC	CL B	654106103	264	3,167	SH		DFND		0	0	3,167
NORFOLK SOUTHERN CORP	COM	655844108	290	1,451	SH		DFND		0	0	1,451
NORTHROP GRUMMAN CORP	COM	666807102	508	1,573	SH		DFND		0	0	1,573
NOVARTIS A G	SPONSORED ADR	66987V109	236	2,591	SH		DFND		0	0	2,591
NUSTAR ENERGY LP	UNIT COM	67058H102	333	12,280	SH		DFND		0	0	12,280
NUVEEN AMT FREE QLTY MUN INC	COM	670657105	186	13,374	SH		DFND		0	0	13,374
NUVEEN MARYLAND QLT MUN INC	COM	67061Q107	240	18,610	SH		DFND		0	0	18,610
NXP SEMICONDUCTORS N V	COM	N6596X109	221	2,262	SH		DFND		0	0	2,262
NYMOX PHARMACEUTICAL CORP	COM	P73398102	41	28,000	SH		DFND		0	0	28,000
OAKTREE SPECIALTY LENDING CO	COM	67401P108	145	26,879	SH		DFND		0	0	26,879
ONEOK INC NEW	COM	682680103	866	12,581	SH		DFND		0	0	12,581
PAYPAL HLDGS INC	COM	70450Y103	8,067	70,492	SH		DFND		0	0	70,492
PEPSICO INC	COM	713448108	1,588	12,097	SH		DFND		0	0	12,097
PFIZER INC	COM	717081103	2,488	57,511	SH		DFND		0	0	57,511
PHILIP MORRIS INTL INC	COM	718172109	479	6,097	SH		DFND		0	0	6,097
PHILLIPS 66	COM	718546104	2,906	31,070	SH		DFND		0	0	31,070
PNC FINL SVCS GROUP INC	COM	693475105	773	5,649	SH		DFND		0	0	5,649
PRICE T ROWE GROUP INC	COM	74144T108	1,170	10,660	SH		DFND		0	0	10,660
PROCTER AND GAMBLE CO	COM	742718109	4,806	43,836	SH		DFND		0	0	43,836
QUALCOMM INC	COM	747525103	5,724	75,196	SH		DFND		0	0	75,196
REGENERON PHARMACEUTICALS	COM	75886F107	699	2,234	SH		DFND		0	0	2,234
ROPER TECHNOLOGIES INC	COM	776696106	463	1,262	SH		DFND		0	0	1,262
SALESFORCE COM INC	COM	79466L302	2,200	14,494	SH		DFND		0	0	14,494
SALIENT MIDSTREAM & MLP FD	SH BEN INT	79471V105	117	13,700	SH		DFND		0	0	13,700
SBA COMMUNICATIONS CORP NEW	CL A	78410G104	273	1,218	SH		DFND		0	0	1,218
SCHLUMBERGER LTD	COM	806857108	318	7,949	SH		DFND		0	0	7,949
SELECT SECTOR SPDR TR	ENERGY	81369Y506	271	4,247	SH		DFND		0	0	4,247
SELECT SECTOR SPDR TR	SBI HEALTHCARE	81369Y209	272	2,922	SH		DFND		0	0	2,922
SELECT SECTOR SPDR TR	SBI INT-FINL	81369Y605	419	15,227	SH		DFND		0	0	15,227
SELECT SECTOR SPDR TR	TECHNOLOGY	81369Y803	533	6,829	SH		DFND		0	0	6,829
SOUTHERN CO	COM	842587107	229	4,112	SH		DFND		0	0	4,112
SPDR GOLD TRUST	GOLD SHS	78463V107	473	3,551	SH		DFND		0	0	3,551
SPDR S&P 500 ETF TR	TR UNIT	78462F103	4,354	14,860	SH		DFND		0	0	14,860
SPDR S&P MIDCAP 400 ETF TR	UTSER1 S&PDCRP	78467Y107	662	1,867	SH		DFND		0	0	1,867
SPDR SERIES TRUST	PORTFOLIO SHORT	78464A474	720	23,374	SH		DFND		0	0	23,374
SPDR SERIES TRUST	S&P 600 SMCP VAL	78464A300	288	4,743	SH		DFND		0	0	4,743
SPDR SERIES TRUST	S&P DIVID ETF	78464A763	1,413	14,008	SH		DFND		0	0	14,008
SPECTRUM PHARMACEUTICALS INC	COM	84763A108	215	25,000	SH		DFND		0	0	25,000
SPIRIT AEROSYSTEMS HLDGS INC	COM CL A	848574109	550	6,760	SH		DFND		0	0	6,760
STARBUCKS CORP	COM	855244109	4,051	48,284	SH		DFND		0	0	48,284
STRYKER CORP	COM	863667101	1,644	8,000	SH		DFND		0	0	8,000
SUNTRUST BKS INC	COM	867914103	966	15,350	SH		DFND		0	0	15,350
SYSCO CORP	COM	871829107	390	5,529	SH		DFND		0	0	5,529
TELEFLEX INC	COM	879369106	281	850	SH		DFND		0	0	850
TEXAS INSTRS INC	COM	882508104	742	6,471	SH		DFND		0	0	6,471
THE CHARLES SCHWAB CORPORATI	COM	808513105	5,549	138,130	SH		DFND		0	0	138,130
TJX COS INC NEW	COM	872540109	201	3,827	SH		DFND		0	0	3,827
TRAVELERS COMPANIES INC	COM	89417E109	256	1,712	SH		DFND		0	0	1,712
TWITTER INC	COM	90184L102	792	22,688	SH		DFND		0	0	22,688
UBS AG JERSEY BRH	CMCI ETN 38	902641778	177	12,154	SH		DFND		0	0	12,154
UNILEVER N V	N Y SHS NEW	904784709	229	3,766	SH		DFND		0	0	3,766
UNILEVER PLC	SPON ADR NEW	904767704	235	3,780	SH		DFND		0	0	3,780
UNION PACIFIC CORP	COM	907818108	1,478	8,738	SH		DFND		0	0	8,738
UNITED PARCEL SERVICE INC	CL B	911312106	255	2,460	SH		DFND		0	0	2,460
UNITED RENTALS INC	COM	911363109	373	2,784	SH		DFND		0	0	2,784
UNITED TECHNOLOGIES CORP	COM	913017109	5,142	39,500	SH		DFND		0	0	39,500
UNITEDHEALTH GROUP INC	COM	91324P102	842	3,438	SH		DFND		0	0	3,438
VANECK VECTORS ETF TR	AMT FREE INT ETF	92189H201	235	4,723	SH		DFND		0	0	4,723
VANECK VECTORS ETF TR	GOLD MINERS ETF	92189F106	1,353	52,902	SH		DFND		0	0	52,902
VANGUARD BD INDEX FD INC	SHORT TRM BOND	921937827	430	5,341	SH		DFND		0	0	5,341
VANGUARD BD INDEX FD INC	TOTAL BND MRKT	921937835	412	4,962	SH		DFND		0	0	4,962
VANGUARD GROUP	DIV APP ETF	921908844	571	4,947	SH		DFND		0	0	4,947
VANGUARD INDEX FDS	GROWTH ETF	922908736	2,661	16,284	SH		DFND		0	0	16,284
VANGUARD INDEX FDS	MCAP VL IDXVIP	922908512	234	2,100	SH		DFND		0	0	2,100
VANGUARD INDEX FDS	MID CAP ETF	922908629	1,011	6,040	SH		DFND		0	0	6,040
VANGUARD INDEX FDS	REAL ESTATE ETF	922908553	405	4,665	SH		DFND		0	0	4,665
VANGUARD INDEX FDS	S&P 500 ETF SHS	922908363	222	823	SH		DFND		0	0	823
VANGUARD INDEX FDS	SM CP VAL ETF	922908611	439	3,356	SH		DFND		0	0	3,356
VANGUARD INDEX FDS	SML CP GRW ETF	922908595	1,139	6,111	SH		DFND		0	0	6,111
VANGUARD INDEX FDS	VALUE ETF	922908744	375	3,375	SH		DFND		0	0	3,375
VANGUARD INTL EQUITY INDEX F	FTSE EMR MKT ETF	922042858	702	16,496	SH		DFND		0	0	16,496
VANGUARD TAX MANAGED INTL FD	FTSE DEV MKT ETF	921943858	958	22,924	SH		DFND		0	0	22,924
VANGUARD WORLD FDS	CONSUM DIS ETF	92204A108	238	1,326	SH		DFND		0	0	1,326
VENTAS INC	COM	92276F100	469	6,850	SH		DFND		0	0	6,850
VERIZON COMMUNICATIONS INC	COM	92343V104	2,112	37,004	SH		DFND		0	0	37,004
VISA INC	COM CL A	92826C839	8,582	49,433	SH		DFND		0	0	49,433
VOYA FINL INC	COM	929089100	734	13,250	SH		DFND		0	0	13,250
W P CAREY INC	COM	92936U109	241	2,969	SH		DFND		0	0	2,969
WALMART INC	COM	931142103	821	7,440	SH		DFND		0	0	7,440
WASTE MGMT INC DEL	COM	94106L109	340	2,944	SH		DFND		0	0	2,944
WELLS FARGO CO NEW	COM	949746101	582	12,329	SH		DFND		0	0	12,329
WILLIS TOWERS WATSON PUB LTD	SHS	G96629103	347	1,812	SH		DFND		0	0	1,812
WISDOMTREE TR	EMG MKTS SMCAP	97717W281	240	5,128	SH		DFND		0	0	5,128
XENIA HOTELS & RESORTS INC	COM	984017103	622	29,826	SH		DFND		0	0	29,826
YUM BRANDS INC	COM	988498101	811	7,331	SH		DFND		0	0	7,331
YUM CHINA HLDGS INC	COM	98850P109	250	5,431	SH		DFND		0	0	5,431