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	405	2,318	SH		DFND		0	0	2,318
ABBOTT LABS	COM	002824100	3,202	29,250	SH		DFND		0	0	29,250
ABBVIE INC	COM	00287Y109	8,120	75,782	SH		DFND		0	0	75,782
ABERDEEN STD GOLD ETF TR	PHYSCL GOLD SHS	00326A104	372	20,350	SH		DFND		0	0	20,350
ACCENTURE PLC IRELAND	SHS CLASS A	G1151C101	8,944	34,242	SH		DFND		0	0	34,242
ADOBE SYSTEMS INCORPORATED	COM	00724F101	785	1,569	SH		DFND		0	0	1,569
AIR PRODS & CHEMS INC	COM	009158106	615	2,250	SH		DFND		0	0	2,250
ALIBABA GROUP HLDG LTD	SPONSORED ADS	01609W102	6,123	26,309	SH		DFND		0	0	26,309
ALLSTATE CORP	COM	020002101	316	2,871	SH		DFND		0	0	2,871
ALPHABET INC	CAP STK CL A	02079K305	14,358	8,193	SH		DFND		0	0	8,193
ALPHABET INC	CAP STK CL C	02079K107	12,356	7,054	SH		DFND		0	0	7,054
ALTRIA GROUP INC	COM	02209S103	839	20,453	SH		DFND		0	0	20,453
AMAZON COM INC	COM	023135106	53,296	16,365	SH		DFND		0	0	16,365
AMERICAN EXPRESS CO	COM	025816109	1,125	9,309	SH		DFND		0	0	9,309
AMERICAN TOWER CORP NEW	COM	03027X100	3,186	14,192	SH		DFND		0	0	14,192
AMGEN INC	COM	031162100	3,036	13,204	SH		DFND		0	0	13,204
AMPHENOL CORP NEW	CL A	032095101	281	2,149	SH		DFND		0	0	2,149
ANALOG DEVICES INC	COM	032654105	231	1,561	SH		DFND		0	0	1,561
ANHEUSER BUSCH INBEV SA/NV	SPONSORED ADR	03524A108	334	4,775	SH		DFND		0	0	4,775
ANTARES PHARMA INC	COM	036642106	1,097	275,000	SH		DFND		0	0	275,000
ANTHEM INC	COM	036752103	654	2,037	SH		DFND		0	0	2,037
APPLE INC	COM	037833100	68,080	513,073	SH		DFND		0	0	513,073
ARES MANAGEMENT CORPORATION	CL A COM STK	03990B101	965	20,500	SH		DFND		0	0	20,500
AT&T INC	COM	00206R102	2,250	78,244	SH		DFND		0	0	78,244
AUTODESK INC	COM	052769106	854	2,798	SH		DFND		0	0	2,798
AUTOHOME INC	SP ADR RP CL A	05278C107	211	2,118	SH		DFND		0	0	2,118
AUTOMATIC DATA PROCESSING IN	COM	053015103	3,199	18,156	SH		DFND		0	0	18,156
AVALONBAY CMNTYS INC	COM	053484101	447	2,784	SH		DFND		0	0	2,784
BECTON DICKINSON & CO	COM	075887109	573	2,290	SH		DFND		0	0	2,290
BERKSHIRE HATHAWAY INC DEL	CL A	084670108	348	1	SH		DFND		0	0	1
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	7,176	30,948	SH		DFND		0	0	30,948
BK OF AMERICA CORP	COM	060505104	4,608	152,035	SH		DFND		0	0	152,035
BLACKSTONE GROUP INC	COM CL A	09260D107	5,603	86,448	SH		DFND		0	0	86,448
BOEING CO	COM	097023105	623	2,911	SH		DFND		0	0	2,911
BOOKING HOLDINGS INC	COM	09857L108	336	151	SH		DFND		0	0	151
BRIGHT HORIZONS FAM SOL IN D	COM	109194100	221	1,279	SH		DFND		0	0	1,279
BRISTOL-MYERS SQUIBB CO	COM	110122108	2,815	45,383	SH		DFND		0	0	45,383
BROADCOM INC	COM	11135F101	1,099	2,510	SH		DFND		0	0	2,510
BROADRIDGE FINL SOLUTIONS IN	COM	11133T103	2,392	15,612	SH		DFND		0	0	15,612
BUILDERS FIRSTSOURCE INC	COM	12008R107	388	9,500	SH		DFND		0	0	9,500
CANADIAN NATL RY CO	COM	136375102	399	3,635	SH		DFND		0	0	3,635
CARMAX INC	COM	143130102	477	5,050	SH		DFND		0	0	5,050
CARRIER GLOBAL CORPORATION	COM	14448C104	815	21,613	SH		DFND		0	0	21,613
CDK GLOBAL INC	COM	12508E101	993	19,164	SH		DFND		0	0	19,164
CHARTER COMMUNICATIONS INC N	CL A	16119P108	234	354	SH		DFND		0	0	354
CHEGG INC	COM	163092109	629	6,958	SH		DFND		0	0	6,958
CHEVRON CORP NEW	COM	166764100	664	7,867	SH		DFND		0	0	7,867
CHUBB LIMITED	COM	H1467J104	229	1,489	SH		DFND		0	0	1,489
CIGNA CORP NEW	COM	125523100	653	3,135	SH		DFND		0	0	3,135
CINTAS CORP	COM	172908105	398	1,125	SH		DFND		0	0	1,125
CISCO SYS INC	COM	17275R102	5,626	125,731	SH		DFND		0	0	125,731
CITIGROUP INC	COM NEW	172967424	1,225	19,869	SH		DFND		0	0	19,869
COCA COLA CO	COM	191216100	2,578	47,012	SH		DFND		0	0	47,012
COGNIZANT TECHNOLOGY SOLUTIO	CL A	192446102	558	6,807	SH		DFND		0	0	6,807
COLONY CAP INC NEW	CL A COM	19626G108	231	48,000	SH		DFND		0	0	48,000
COMCAST CORP NEW	CL A	20030N101	1,438	27,445	SH		DFND		0	0	27,445
CONSOLIDATED EDISON INC	COM	209115104	270	3,732	SH		DFND		0	0	3,732
COSTCO WHSL CORP NEW	COM	22160K105	1,751	4,646	SH		DFND		0	0	4,646
CVS HEALTH CORP	COM	126650100	7,820	114,492	SH		DFND		0	0	114,492
DANAHER CORPORATION	COM	235851102	4,816	21,680	SH		DFND		0	0	21,680
DAVITA INC	COM	23918K108	231	1,966	SH		DFND		0	0	1,966
DEERE & CO	COM	244199105	1,973	7,332	SH		DFND		0	0	7,332
DIAGEO PLC	SPON ADR NEW	25243Q205	583	3,674	SH		DFND		0	0	3,674
DISNEY WALT CO	COM	254687106	11,394	62,890	SH		DFND		0	0	62,890
DOMINION ENERGY INC	COM	25746U109	760	10,105	SH		DFND		0	0	10,105
DOW INC	COM	260557103	501	9,034	SH		DFND		0	0	9,034
DUKE ENERGY CORP NEW	COM NEW	26441C204	551	6,018	SH		DFND		0	0	6,018
DUPONT DE NEMOURS INC	COM	26614N102	240	3,370	SH		DFND		0	0	3,370
DYNATRACE INC	COM NEW	268150109	1,461	33,770	SH		DFND		0	0	33,770
EASTERLY GOVT PPTYS INC	COM	27616P103	320	14,120	SH		DFND		0	0	14,120
EATON VANCE TAX-MANAGED DIVE	COM	27828N102	130	10,640	SH		DFND		0	0	10,640
EATON VANCE TAX-MANAGED GLOB	COM	27829F108	111	12,605	SH		DFND		0	0	12,605
ECOLAB INC	COM	278865100	1,243	5,746	SH		DFND		0	0	5,746
EDWARDS LIFESCIENCES CORP	COM	28176E108	892	9,780	SH		DFND		0	0	9,780
EMERSON ELEC CO	COM	291011104	3,193	39,729	SH		DFND		0	0	39,729
ENBRIDGE INC	COM	29250N105	1,585	49,535	SH		DFND		0	0	49,535
ENTERPRISE PRODS PARTNERS L	COM	293792107	285	14,548	SH		DFND		0	0	14,548
EQUIFAX INC	COM	294429105	9,699	50,295	SH		DFND		0	0	50,295
EVERQUOTE INC	COM CL A	30041R108	471	12,598	SH		DFND		0	0	12,598
EXELIXIS INC	COM	30161Q104	401	20,000	SH		DFND		0	0	20,000
EXXON MOBIL CORP	COM	30231G102	1,446	35,074	SH		DFND		0	0	35,074
F5 NETWORKS INC	COM	315616102	497	2,823	SH		DFND		0	0	2,823
FACEBOOK INC	CL A	30303M102	3,956	14,481	SH		DFND		0	0	14,481
FERRARI N V	COM	N3167Y103	287	1,250	SH		DFND		0	0	1,250
FIDELITY NATL INFORMATION SV	COM	31620M106	5,076	35,886	SH		DFND		0	0	35,886
FIRST HORIZON CORPORATION	COM	320517105	166	13,039	SH		DFND		0	0	13,039
FIRST TR EXCH TRADED FD III	PFD SECS INC ETF	33739E108	1,786	88,438	SH		DFND		0	0	88,438
FIRST TR EXCHANGE-TRADED FD	FIRST TR ENH NEW	33739Q408	680	11,334	SH		DFND		0	0	11,334
FIRST TR EXCHANGE-TRADED FD	NY ARCA BIOTECH	33733E203	2,119	12,615	SH		DFND		0	0	12,615
FIRST TR EXCHANGE-TRADED FD	SENIOR LN FD	33738D309	251	5,280	SH		DFND		0	0	5,280
FORD MTR CO DEL	COM	345370860	414	47,093	SH		DFND		0	0	47,093
FORTIVE CORP	COM	34959J108	908	12,815	SH		DFND		0	0	12,815
GAMESTOP CORP NEW	CL A	36467W109	437	23,203	SH		DFND		0	0	23,203
GENERAL DYNAMICS CORP	COM	369550108	232	1,558	SH		DFND		0	0	1,558
GENERAL ELECTRIC CO	COM	369604103	309	28,631	SH		DFND		0	0	28,631
GENERAL MLS INC	COM	370334104	290	4,932	SH		DFND		0	0	4,932
GENERAL MTRS CO	COM	37045V100	225	5,400	SH		DFND		0	0	5,400
GILEAD SCIENCES INC	COM	375558103	1,099	18,869	SH		DFND		0	0	18,869
GOLUB CAP BDC INC	COM	38173M102	196	13,878	SH		DFND		0	0	13,878
HANCOCK JOHN PFD INCOME FD I	COM	41021P103	202	11,680	SH		DFND		0	0	11,680
HEICO CORP NEW	COM	422806109	245	1,850	SH		DFND		0	0	1,850
HEWLETT PACKARD ENTERPRISE C	COM	42824C109	165	13,960	SH		DFND		0	0	13,960
HOME DEPOT INC	COM	437076102	2,907	10,943	SH		DFND		0	0	10,943
HONEYWELL INTL INC	COM	438516106	1,061	4,990	SH		DFND		0	0	4,990
HORIZON TECHNOLOGY FIN CORP	COM	44045A102	217	16,362	SH		DFND		0	0	16,362
HP INC	COM	40434L105	343	13,960	SH		DFND		0	0	13,960
ICON PLC	SHS	G4705A100	1,404	7,200	SH		DFND		0	0	7,200
IDEXX LABS INC	COM	45168D104	314	629	SH		DFND		0	0	629
ILLUMINA INC	COM	452327109	242	654	SH		DFND		0	0	654
INTEL CORP	COM	458140100	6,515	130,767	SH		DFND		0	0	130,767
INTERNATIONAL BUSINESS MACHS	COM	459200101	3,738	29,698	SH		DFND		0	0	29,698
INTUIT	COM	461202103	2,504	6,592	SH		DFND		0	0	6,592
INTUITIVE SURGICAL INC	COM NEW	46120E602	6,667	8,149	SH		DFND		0	0	8,149
INVESCO EXCHANGE TRADED FD T	S&P 500 TOP 50	46137V233	380	1,333	SH		DFND		0	0	1,333
INVESCO EXCHANGE TRADED FD T	S&P500 EQL WGT	46137V357	5,081	39,836	SH		DFND		0	0	39,836
INVESCO QQQ TR	UNIT SER 1	46090E103	382	1,217	SH		DFND		0	0	1,217
IONIS PHARMACEUTICALS INC	COM	462222100	293	5,175	SH		DFND		0	0	5,175
ISHARES INC	CORE MSCI EMKT	46434G103	792	12,767	SH		DFND		0	0	12,767
ISHARES TR	20 YR TR BD ETF	464287432	458	2,905	SH		DFND		0	0	2,905
ISHARES TR	CORE MSCI TOTAL	46432F834	547	8,135	SH		DFND		0	0	8,135
ISHARES TR	CORE S&P MCP ETF	464287507	1,496	6,509	SH		DFND		0	0	6,509
ISHARES TR	CORE S&P SCP ETF	464287804	1,412	15,369	SH		DFND		0	0	15,369
ISHARES TR	CORE S&P500 ETF	464287200	4,866	12,962	SH		DFND		0	0	12,962
ISHARES TR	CORE US AGGBD ET	464287226	643	5,439	SH		DFND		0	0	5,439
ISHARES TR	FLTG RATE NT ETF	46429B655	417	8,226	SH		DFND		0	0	8,226
ISHARES TR	GL CLEAN ENE ETF	464288224	466	16,515	SH		DFND		0	0	16,515
ISHARES TR	ISHS 1-5YR INVS	464288646	236	4,280	SH		DFND		0	0	4,280
ISHARES TR	MSCI EAFE ETF	464287465	363	4,975	SH		DFND		0	0	4,975
ISHARES TR	MSCI EMG MKT ETF	464287234	309	5,977	SH		DFND		0	0	5,977
ISHARES TR	RUS 1000 ETF	464287622	881	4,158	SH		DFND		0	0	4,158
ISHARES TR	RUS 1000 GRW ETF	464287614	449	1,863	SH		DFND		0	0	1,863
ISHARES TR	RUS 1000 VAL ETF	464287598	1,084	7,930	SH		DFND		0	0	7,930
ISHARES TR	RUS 2000 GRW ETF	464287648	276	961	SH		DFND		0	0	961
ISHARES TR	RUS 2000 VAL ETF	464287630	284	2,159	SH		DFND		0	0	2,159
ISHARES TR	RUSSELL 2000 ETF	464287655	813	4,144	SH		DFND		0	0	4,144
ISHARES TR	SELECT DIVID ETF	464287168	1,406	14,624	SH		DFND		0	0	14,624
ISHARES TR	SHRT NAT MUN ETF	464288158	511	4,725	SH		DFND		0	0	4,725
ISHARES TR	TIPS BD ETF	464287176	422	3,307	SH		DFND		0	0	3,307
ISHARES TR	U.S. UTILITS ETF	464287697	326	4,200	SH		DFND		0	0	4,200
JACOBS ENGR GROUP INC	COM	469814107	463	4,251	SH		DFND		0	0	4,251
JOHNSON & JOHNSON	COM	478160104	4,691	29,804	SH		DFND		0	0	29,804
JPMORGAN CHASE & CO	COM	46625H100	13,102	103,108	SH		DFND		0	0	103,108
KIMBERLY-CLARK CORP	COM	494368103	557	4,134	SH		DFND		0	0	4,134
KRAFT HEINZ CO	COM	500754106	8,207	236,797	SH		DFND		0	0	236,797
L3HARRIS TECHNOLOGIES INC	COM	502431109	368	1,949	SH		DFND		0	0	1,949
LANDMARK INFRASTRCTUR PARTR	COM UNIT LTD	51508J108	129	12,000	SH		DFND		0	0	12,000
LILLY ELI & CO	COM	532457108	469	2,775	SH		DFND		0	0	2,775
LOCKHEED MARTIN CORP	COM	539830109	527	1,484	SH		DFND		0	0	1,484
LOWES COS INC	COM	548661107	940	5,855	SH		DFND		0	0	5,855
M & T BK CORP	COM	55261F104	369	2,901	SH		DFND		0	0	2,901
MARTEN TRANS LTD	COM	573075108	388	22,500	SH		DFND		0	0	22,500
MASIMO CORP	COM	574795100	2,146	7,995	SH		DFND		0	0	7,995
MASTERCARD INCORPORATED	CL A	57636Q104	21,884	61,310	SH		DFND		0	0	61,310
MCCORMICK & CO INC	COM NON VTG	579780206	2,529	26,450	SH		DFND		0	0	26,450
MCDONALDS CORP	COM	580135101	1,421	6,624	SH		DFND		0	0	6,624
MEDTRONIC PLC	SHS	G5960L103	473	4,039	SH		DFND		0	0	4,039
MERCADOLIBRE INC	COM	58733R102	251	150	SH		DFND		0	0	150
MERCK & CO. INC	COM	58933Y105	5,235	63,998	SH		DFND		0	0	63,998
METLIFE INC	COM	59156R108	2,088	44,482	SH		DFND		0	0	44,482
MICROSOFT CORP	COM	594918104	31,181	140,188	SH		DFND		0	0	140,188
MONDELEZ INTL INC	CL A	609207105	340	5,823	SH		DFND		0	0	5,823
NETFLIX INC	COM	64110L106	217	402	SH		DFND		0	0	402
NEXTERA ENERGY INC	COM	65339F101	782	10,139	SH		DFND		0	0	10,139
NIKE INC	CL B	654106103	431	3,044	SH		DFND		0	0	3,044
NOMAD FOODS LTD	USD ORD SHS	G6564A105	403	15,834	SH		DFND		0	0	15,834
NORFOLK SOUTHN CORP	COM	655844108	1,211	5,095	SH		DFND		0	0	5,095
NOVARTIS AG	SPONSORED ADR	66987V109	288	3,051	SH		DFND		0	0	3,051
NUVEEN AMT FREE QLTY MUN INC	COM	670657105	187	12,359	SH		DFND		0	0	12,359
NUVEEN MARYLAND QLT MUN INC	COM	67061Q107	230	16,310	SH		DFND		0	0	16,310
NVIDIA CORPORATION	COM	67066G104	443	848	SH		DFND		0	0	848
NXP SEMICONDUCTORS N V	COM	N6596X109	395	2,483	SH		DFND		0	0	2,483
NYMOX PHARMACEUTICAL CORP	COM	P73398102	69	28,000	SH		DFND		0	0	28,000
OAKTREE SPECIALTY LENDING CO	COM	67401P108	642	115,333	SH		DFND		0	0	115,333
ONEOK INC NEW	COM	682680103	661	17,215	SH		DFND		0	0	17,215
OTIS WORLDWIDE CORP	COM	68902V107	597	8,833	SH		DFND		0	0	8,833
PAYCHEX INC	COM	704326107	236	2,536	SH		DFND		0	0	2,536
PAYPAL HLDGS INC	COM	70450Y103	21,193	90,491	SH		DFND		0	0	90,491
PEPSICO INC	COM	713448108	1,087	7,329	SH		DFND		0	0	7,329
PFIZER INC	COM	717081103	2,304	62,585	SH		DFND		0	0	62,585
PHILIP MORRIS INTL INC	COM	718172109	495	5,985	SH		DFND		0	0	5,985
PHILLIPS 66	COM	718546104	790	11,298	SH		DFND		0	0	11,298
PNC FINL SVCS GROUP INC	COM	693475105	779	5,225	SH		DFND		0	0	5,225
POOL CORP	COM	73278L105	201	540	SH		DFND		0	0	540
PPG INDS INC	COM	693506107	850	5,897	SH		DFND		0	0	5,897
PRICE T ROWE GROUP INC	COM	74144T108	1,388	9,171	SH		DFND		0	0	9,171
PROCTER AND GAMBLE CO	COM	742718109	4,319	31,043	SH		DFND		0	0	31,043
PUBLIC STORAGE	COM	74460D109	282	1,223	SH		DFND		0	0	1,223
QUALCOMM INC	COM	747525103	11,855	77,818	SH		DFND		0	0	77,818
RAYTHEON TECHNOLOGIES CORP	COM	75513E101	2,847	39,811	SH		DFND		0	0	39,811
REGENERON PHARMACEUTICALS	COM	75886F107	690	1,429	SH		DFND		0	0	1,429
ROPER TECHNOLOGIES INC	COM	776696106	2,125	4,930	SH		DFND		0	0	4,930
ROYAL DUTCH SHELL PLC	SPON ADR B	780259107	550	16,360	SH		DFND		0	0	16,360
SALESFORCE COM INC	COM	79466L302	3,244	14,580	SH		DFND		0	0	14,580
SALIENT MIDSTREAM & MLP FD	SH BEN INT	79471V105	57	13,242	SH		DFND		0	0	13,242
SCHWAB CHARLES CORP	COM	808513105	7,203	135,812	SH		DFND		0	0	135,812
SEAGATE TECHNOLOGY PLC	SHS	G7945M107	218	3,500	SH		DFND		0	0	3,500
SELECT SECTOR SPDR TR	SBI HEALTHCARE	81369Y209	328	2,892	SH		DFND		0	0	2,892
SELECT SECTOR SPDR TR	SBI INT-FINL	81369Y605	359	12,189	SH		DFND		0	0	12,189
SELECT SECTOR SPDR TR	TECHNOLOGY	81369Y803	685	5,271	SH		DFND		0	0	5,271
SHERWIN WILLIAMS CO	COM	824348106	847	1,153	SH		DFND		0	0	1,153
SHOPIFY INC	CL A	82509L107	458	405	SH		DFND		0	0	405
SOUTHERN CO	COM	842587107	280	4,557	SH		DFND		0	0	4,557
SPDR GOLD TR	GOLD SHS	78463V107	774	4,340	SH		DFND		0	0	4,340
SPDR S&P 500 ETF TR	TR UNIT	78462F103	2,874	7,687	SH		DFND		0	0	7,687
SPDR SER TR	PORTFOLIO SHORT	78464A474	774	24,648	SH		DFND		0	0	24,648
SPDR SER TR	S&P 600 SMCP VAL	78464A300	702	10,604	SH		DFND		0	0	10,604
SPDR SER TR	S&P DIVID ETF	78464A763	1,515	14,303	SH		DFND		0	0	14,303
STARBUCKS CORP	COM	855244109	5,151	48,152	SH		DFND		0	0	48,152
STERICYCLE INC	COM	858912108	557	8,030	SH		DFND		0	0	8,030
STRYKER CORPORATION	COM	863667101	1,577	6,436	SH		DFND		0	0	6,436
SYSCO CORP	COM	871829107	2,877	38,748	SH		DFND		0	0	38,748
TAIWAN SEMICONDUCTOR MFG LTD	SPONSORED ADS	874039100	243	2,231	SH		DFND		0	0	2,231
TARGET CORP	COM	87612E106	222	1,258	SH		DFND		0	0	1,258
TELEDYNE TECHNOLOGIES INC	COM	879360105	230	587	SH		DFND		0	0	587
TELEFLEX INCORPORATED	COM	879369106	350	850	SH		DFND		0	0	850
TESLA INC	COM	88160R101	222	315	SH		DFND		0	0	315
TEXAS INSTRS INC	COM	882508104	736	4,487	SH		DFND		0	0	4,487
THERMO FISHER SCIENTIFIC INC	COM	883556102	400	859	SH		DFND		0	0	859
TJX COS INC NEW	COM	872540109	212	3,110	SH		DFND		0	0	3,110
TRANE TECHNOLOGIES PLC	SHS	G8994E103	472	3,249	SH		DFND		0	0	3,249
TRUIST FINL CORP	COM	89832Q109	505	10,534	SH		DFND		0	0	10,534
TWITTER INC	COM	90184L102	952	17,588	SH		DFND		0	0	17,588
UNILEVER PLC	SPON ADR NEW	904767704	377	6,252	SH		DFND		0	0	6,252
UNION PAC CORP	COM	907818108	1,184	5,688	SH		DFND		0	0	5,688
UNITED RENTALS INC	COM	911363109	558	2,408	SH		DFND		0	0	2,408
UNITEDHEALTH GROUP INC	COM	91324P102	1,851	5,279	SH		DFND		0	0	5,279
VALERO ENERGY CORP	COM	91913Y100	290	5,129	SH		DFND		0	0	5,129
VANECK VECTORS ETF TR	GOLD MINERS ETF	92189F106	1,754	48,687	SH		DFND		0	0	48,687
VANGUARD BD INDEX FDS	SHORT TRM BOND	921937827	444	5,354	SH		DFND		0	0	5,354
VANGUARD BD INDEX FDS	TOTAL BND MRKT	921937835	856	9,707	SH		DFND		0	0	9,707
VANGUARD INDEX FDS	MID CAP ETF	922908629	515	2,489	SH		DFND		0	0	2,489
VANGUARD INDEX FDS	S&P 500 ETF SHS	922908363	1,019	2,965	SH		DFND		0	0	2,965
VANGUARD INDEX FDS	SMALL CP ETF	922908751	297	1,525	SH		DFND		0	0	1,525
VANGUARD INDEX FDS	SML CP GRW ETF	922908595	280	1,045	SH		DFND		0	0	1,045
VANGUARD SPECIALIZED FUNDS	DIV APP ETF	921908844	785	5,561	SH		DFND		0	0	5,561
VANGUARD WORLD FDS	CONSUM DIS ETF	92204A108	268	974	SH		DFND		0	0	974
VENTAS INC	COM	92276F100	305	6,220	SH		DFND		0	0	6,220
VERIZON COMMUNICATIONS INC	COM	92343V104	2,607	44,377	SH		DFND		0	0	44,377
VISA INC	COM CL A	92826C839	12,256	56,033	SH		DFND		0	0	56,033
VOYA FINANCIAL INC	COM	929089100	2,183	37,123	SH		DFND		0	0	37,123
WALMART INC	COM	931142103	946	6,562	SH		DFND		0	0	6,562
WASTE MGMT INC DEL	COM	94106L109	348	2,953	SH		DFND		0	0	2,953
WEC ENERGY GROUP INC	COM	92939U106	220	2,394	SH		DFND		0	0	2,394
WHEATON PRECIOUS METALS CORP	COM	962879102	209	5,000	SH		DFND		0	0	5,000
WILLIS TOWERS WATSON PLC LTD	SHS	G96629103	1,156	5,486	SH		DFND		0	0	5,486
WP CAREY INC	COM	92936U109	331	4,685	SH		DFND		0	0	4,685
YUM BRANDS INC	COM	988498101	731	6,731	SH		DFND		0	0	6,731
YUM CHINA HLDGS INC	COM	98850P109	287	5,031	SH		DFND		0	0	5,031
ZYNGA INC	CL A	98986T108	190	19,229	SH		DFND		0	0	19,229