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 |
Consumer Discretionary Select | COM | 81369Y407 | 6,568 | 66,547 | SH | | DFND | | 45,554 | 0 | 20,993 |
Energy Select Sector SPDR Fund | COM | 81369Y506 | 1,977 | 27,354 | SH | | DFND | | 18,732 | 0 | 8,622 |
Financial Select Sector SPDR F | COM | 81369Y605 | 16,229 | 581,492 | SH | | DFND | | 395,204 | 0 | 186,288 |
First Trust Consumer Discretio | COM | 33734X101 | 5,280 | 125,436 | SH | | DFND | | 85,049 | 0 | 40,387 |
First Trust Energy AlphaDEX Fu | COM | 33734X127 | 1,993 | 128,779 | SH | | DFND | | 88,118 | 0 | 40,661 |
First Trust Industrials/Produc | COM | 33734X150 | 7,342 | 180,874 | SH | | DFND | | 122,570 | 0 | 58,304 |
First Trust Large Cap Core Alp | COM | 33734k109 | 6,619 | 113,061 | SH | | DFND | | 51,488 | 0 | 61,574 |
First Trust Materials AlphaDEX | COM | 33734X168 | 2,046 | 46,663 | SH | | DFND | | 32,136 | 0 | 14,527 |
First Trust Technology AlphaDE | COM | 33734X176 | 15,691 | 305,745 | SH | | DFND | | 209,018 | 0 | 96,727 |
GUGGENHEIM S&P 500 EQL WEIGHT | COM | 78355w106 | 37,471 | 370,889 | SH | | DFND | | 171,158 | 0 | 199,731 |
Guggenheim Enhanced Short Dura | COM | 18383M654 | 628 | 12,534 | SH | | DFND | | 10,664 | 0 | 1,870 |
Guggenheim S&P 500 Pure Value | COM | 78355W304 | 288 | 4,341 | SH | | DFND | | 4,329 | 0 | 12 |
ISHARES CORE MSCI EMERGING | COM | 46434G103 | 17,669 | 310,533 | SH | | DFND | | 139,329 | 0 | 171,204 |
JPMorgan Diversified Return In | COM | 46641Q209 | 25,542 | 425,351 | SH | | DFND | | 194,059 | 0 | 231,292 |
O'Shares FTSE US Quality Divid | COM | 351680855 | 19,753 | 619,018 | SH | | DFND | | 285,870 | 0 | 333,148 |
PIMCO 0-5 Year High Yield Corp | COM | 72201R783 | 638 | 6,353 | SH | | DFND | | 5,393 | 0 | 960 |
PowerShares DB Base Metals Fun | COM | 73936B705 | 12,480 | 642,955 | SH | | DFND | | 266,387 | 0 | 376,568 |
PowerShares DB Energy Fund | COM | 73936B101 | 8,178 | 562,832 | SH | | DFND | | 229,658 | 0 | 333,174 |
PowerShares DB Optimum Yield D | COM | 73937V106 | 2,014 | 115,395 | SH | | DFND | | 87,978 | 0 | 27,417 |
PowerShares S&P 500 High Divid | COM | 73937b654 | 444 | 10,460 | SH | | DFND | | 8,896 | 0 | 1,564 |
PowerShares Senior Loan Portfo | COM | 73936Q769 | 547 | 23,727 | SH | | DFND | | 20,151 | 0 | 3,576 |
Powershares QQQ Trust Series 1 | COM | 73935A104 | 44,549 | 286,012 | SH | | DFND | | 133,618 | 0 | 152,394 |
Real Estate Select Sector SPDR | COM | 81369Y860 | 3,765 | 114,300 | SH | | DFND | | 78,302 | 0 | 35,998 |
SPDR Blackstone / GSO Senior L | COM | 78467V608 | 20,989 | 444,881 | SH | | DFND | | 209,739 | 0 | 235,142 |
SPDR Cons Staples Slct | COM | 81369Y308 | 5,319 | 93,503 | SH | | DFND | | 63,724 | 0 | 29,779 |
SPDR Health Care Select Sector | COM | 81369Y209 | 14,324 | 173,242 | SH | | DFND | | 118,142 | 0 | 55,100 |
SPDR Portfolio S&P Emerging Ma | COM | 78463X509 | 17,363 | 455,136 | SH | | DFND | | 207,505 | 0 | 247,631 |
SPDR S&P MidCap 400 ETF Trust | COM | 78467y107 | 48,316 | 139,879 | SH | | DFND | | 73,196 | 0 | 66,683 |
SPDR S&P500 ETF Trust | COM | 78462F103 | 13,748 | 51,516 | SH | | DFND | | 36,155 | 0 | 15,361 |
SPDR Select Technology | COM | 81369Y803 | 17,654 | 276,061 | SH | | DFND | | 123,333 | 0 | 152,728 |
Utilities Select Sector SPDR F | COM | 81369Y886 | 2,378 | 45,149 | SH | | DFND | | 30,948 | 0 | 14,201 |
VanEck Vectors Fallen Angel Hi | COM | 92189F437 | 342 | 11,427 | SH | | DFND | | 9,711 | 0 | 1,716 |
WisdomTree Bloomberg U.S. Doll | COM | 97717W471 | 11,585 | 447,463 | SH | | DFND | | 213,943 | 0 | 233,520 |
iShares 10 Year Credit Bond E | COM | 464289511 | 525 | 8,311 | SH | | DFND | | 8,300 | 0 | 11 |
iShares Core S&P 500 ETF | COM | 464287200 | 21,802 | 81,094 | SH | | DFND | | 36,749 | 0 | 44,344 |
iShares Core S&P Small-Cap ETF | COM | 464287804 | 30,449 | 396,414 | SH | | DFND | | 179,254 | 0 | 217,160 |
iShares Core S&P Total US Stoc | COM | 464287150 | 63,609 | 1,040,377 | SH | | DFND | | 473,820 | 0 | 566,558 |
iShares Edge MSCI Min Vol USA | COM | 46429b697 | 30,620 | 580,137 | SH | | DFND | | 268,193 | 0 | 311,944 |
iShares Floating Rate Bond ETF | COM | 46429B655 | 4,038 | 79,457 | SH | | DFND | | 55,112 | 0 | 24,345 |
iShares Intermediate Credit Bo | COM | 464288638 | 651 | 5,957 | SH | | DFND | | 5,087 | 0 | 870 |
iShares Russell 2000 ETF | COM | 464287655 | 13,863 | 90,927 | SH | | DFND | | 64,018 | 0 | 26,909 |
iShares Select Dividend ETF | COM | 464287168 | 273 | 2,772 | SH | | DFND | | 2,724 | 0 | 48 |
iShares Short Maturity Bond ET | COM | 46431W507 | 378 | 7,542 | SH | | DFND | | 6,412 | 0 | 1,130 |