Cleary Gull 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
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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 COMPANY	COM	88579Y101	31	200	SH		DFND	1	200	0	0
ABBOTT LABORATORIES	COM	002824100	40	805	SH		DFND	1	805	0	0
ABBVIE INC	COM	00287Y109	45	665	SH		DFND	1	665	0	0
AMERICAN EXPRESS COMPANY	COM	025816109	23	300	SH		DFND	1	300	0	0
APPLE INC	COM	037833100	100	800	SH		DFND	1	800	0	0
APPLE INC	COM	037833100	128	1,017	SH		DFND	2	1,017	0	0
ASSOCIATED BANC-CORP	COM	045487105	19	951	SH		DFND	1	951	0	0
AT&T INC	COM	00206R102	125	3,514	SH		DFND	2	3,514	0	0
AVAGO TECHNOLOGIES LIMITED	SHS	Y0486S104	27	200	SH		DFND	2	200	0	0
BARCLAYS BK PLC	DJUBS CMDT ETN36	06738C778	160	5,500	SH		DFND	2	5,500	0	0
BARCLAYS BK PLC	ADR PFD SR 5	06739H362	104	4,000	SH		DFND	2	4,000	0	0
BLACKROCK CREDIT ALLOCATION INCOME TRUST IV	COM	092508100	2,901	228,948	SH		DFND	1	228,948	0	0
BLACKROCK CREDIT ALLOCATION INCOME TRUST IV	COM	092508100	152	12,000	SH		DFND	2	12,000	0	0
BLACKROCK INC	COM	09247X101	14	40	SH		DFND	1	40	0	0
BUCKEYE PARTNERS LP	UNIT LTD PARTN	118230101	15	200	SH		DFND	1	200	0	0
CAPSTEAD MTG CORP	COM NO PAR	14067E506	11	1,026	SH		DFND	2	1,026	0	0
CELGENE CORP	COM	151020104	10	90	SH		DFND	1	90	0	0
CF INDUSTRIES HOLDINGS INC	COM	125269100	15	235	SH		DFND	1	235	0	0
CHEVRON CORPORATION	COM	166764100	30	308	SH		DFND	1	308	0	0
CISCO SYSTEMS INC	COM	17275R102	22	800	SH		DFND	1	800	0	0
COSTCO WHOLESALE CORP-NEW	COM	22160K105	14	100	SH		DFND	1	100	0	0
DOW CHEMICAL CO.	COM	260543103	21	420	SH		DFND	1	420	0	0
E I DU PONT DE NEMOURS & CO	COM	263534109	26	400	SH		DFND	1	400	0	0
ETFS GOLD TR	SHS	26922Y105	29	250	SH		DFND	1	250	0	0
EXELON CORP	COM	30161N101	0	7	SH		DFND	1	7	0	0
EXXON MOBIL CORP	COM	30231G102	155	1,866	SH		DFND	1	1,866	0	0
FEDEX CORP	COM	31428X106	26	150	SH		DFND	1	150	0	0
FISERV INC	COM	337738108	50	600	SH		DFND	1	600	0	0
FORD MOTOR CO DEL	COM PAR $0.01	345370860	15	1,027	SH		DFND	2	1,027	0	0
GENERAL ELECTRIC CO	COM	369604103	35	1,303	SH		DFND	1	1,303	0	0
GENERAL ELECTRIC CO	COM	369604103	40	1,513	SH		DFND	2	1,513	0	0
GILEAD SCIENCES INC	COM	375558103	12	100	SH		DFND	1	100	0	0
GOOGLE INC	CL A	38259P508	14	25	SH		DFND	1	25	0	0
GOOGLE INC	CL C	38259P706	13	25	SH		DFND	1	25	0	0
HONEYWELL INTL INC	COM	438516106	19	187	SH		DFND	1	187	0	0
ILLINOIS TOOL WORKS INC	COM	452308109	23	250	SH		DFND	1	250	0	0
ISHARES	MSCI ACWI US ETF	464288240	28,586	647,046	SH		DFND	1	647,046	0	0
ISHARES	MSCI ACWI US ETF	464288240	654	14,795	SH		DFND	2	14,795	0	0
ISHARES	JP MOR EM MK ETF	464288281	66	600	SH		DFND	1	600	0	0
ISHARES	U.S. PFD STK ETF	464288687	2,162	55,200	SH		DFND	1	55,200	0	0
ISHARES	U.S. PFD STK ETF	464288687	137	3,500	SH		DFND	2	3,500	0	0
ISHARES	MSCI ACWI ETF	464288257	6	105	SH		DFND	2	105	0	0
ISHARES	INTRM GOV/CR ETF	464288612	183	1,655	SH		DFND	1	1,655	0	0
ISHARES	INTRM GOV/CR ETF	464288612	24	213	SH		DFND	2	213	0	0
ISHARES TR	RUS 1000 GRW ETF	464287614	2,195	22,167	SH		DFND	1	22,167	0	0
ISHARES TR	RUS 1000 GRW ETF	464287614	297	3,000	SH		DFND	2	3,000	0	0
ISHARES TR	MSCI EAFE ETF	464287465	146	2,292	SH		DFND	1	2,292	0	0
ISHARES TR	RUS 1000 ETF	464287622	2,796	24,099	SH		DFND	1	24,099	0	0
ISHARES TR	RUS 1000 ETF	464287622	9,137	78,743	SH		DFND	2	78,743	0	0
ISHARES TR	RUS 1000 VAL ETF	464287598	490	4,755	SH		DFND	1	4,755	0	0
ISHARES TR	RUS 1000 VAL ETF	464287598	54	528	SH		DFND	2	528	0	0
ISHARES TR	RUSSELL 2000 ETF	464287655	531	4,252	SH		DFND	1	4,252	0	0
ISHARES TR	S&P 500 GRWT ETF	464287309	132	1,163	SH		DFND	1	1,163	0	0
ISHARES TR	CORE S&P500 ETF	464287200	750	3,620	SH		DFND	1	3,620	0	0
ISHARES TR	RUS MID-CAP ETF	464287499	971	5,700	SH		DFND	1	5,700	0	0
JOHNSON & JOHNSON	COM	478160104	29	300	SH		DFND	1	300	0	0
JOHNSON CONTROLS INC	COM	478366107	396	8,000	SH		DFND	2	8,000	0	0
JP MORGAN CHASE & CO	COM	46625H100	30	450	SH		DFND	1	450	0	0
LOWES COMPANIES INC	COM	548661107	33	500	SH		DFND	1	500	0	0
MAGNACHIP SEMICONDUCTOR CORP	COM	55933J203	0	7	SH		DFND	1	7	0	0
MCDONALDS CORP	COM	580135101	13	133	SH		DFND	1	133	0	0
MCKESSON CORP	COM	58155Q103	12	55	SH		DFND	1	55	0	0
NUVEEN INSURED MUNICIPAL OPPORTUNITY FUND INC	COM	670984103	136	10,000	SH		DFND	1	10,000	0	0
ORACLE CORP	COM	68389X105	22	540	SH		DFND	1	540	0	0
PEOPLES UTD FINL INC	COM	712704105	38	2,362	SH		DFND	2	2,362	0	0
PHILLIPS 66	COM	718546104	12	145	SH		DFND	1	145	0	0
POWERSHARES ETF TRUST II	CEF INC COMPST	73936Q843	35,225	1,542,920	SH		DFND	1	1,542,920	0	0
POWERSHARES ETF TRUST II	CEF INC COMPST	73936Q843	2,550	111,691	SH		DFND	2	111,691	0	0
POWERSHARES QQQ TRUST	UNIT SER 1	73935A104	13	120	SH		DFND	1	120	0	0
PROCTER & GAMBLE CO	COM	742718109	16	200	SH		DFND	1	200	0	0
PROCTER & GAMBLE CO	COM	742718109	117	1,500	SH		DFND	2	1,500	0	0
PUBLIC SERVICE ENTERPRISE GROUP INC	COM	744573106	2	42	SH		DFND	1	42	0	0
RLI CORP	COM	749607107	8	147	SH		DFND	1	147	0	0
ROYAL DUTCH SHELL PLC	SPONS ADR A	780259206	10	175	SH		DFND	1	175	0	0
RPM INTERNATIONAL INC	COM	749685103	171	3,500	SH		DFND	1	3,500	0	0
SCHWAB STRATEGIC TR	US BRD MKT ETF	808524102	0	1	SH		DFND	1	1	0	0
SEVENTY SEVEN ENERGY INC	COM	818097107	0	55	SH		DFND	2	55	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	2,226	10,815	SH		DFND	1	10,815	0	0
SPDR S&P MIDCAP 400 ETF TR	UTSER1 S&PDCRP	78467Y107	1,208	4,420	SH		DFND	1	4,420	0	0
TARGET CORP	COM	87612E106	18	222	SH		DFND	1	222	0	0
TIME INC	COM	887228104	0	16	SH		DFND	1	16	0	0
UBS AG JERSEY BRH	DJ COMMD ETN39	902641679	168	9,000	SH		DFND	2	9,000	0	0
US BANCORP DEL	COM NEW	902973304	35	800	SH		DFND	1	800	0	0
VANGUARD INDEX FDS	GROWTH ETF	922908736	268	2,500	SH		DFND	1	2,500	0	0
VANGUARD INDEX FDS	MCAP VL IDXVIP	922908512	20,573	227,153	SH		DFND	1	227,153	0	0
VANGUARD INDEX FDS	MCAP VL IDXVIP	922908512	10,136	111,911	SH		DFND	2	111,911	0	0
VANGUARD INDEX FDS	REIT ETF	922908553	89	1,196	SH		DFND	1	1,196	0	0
VANGUARD INDEX FDS	TOTAL STK MKT	922908769	3,086	28,837	SH		DFND	1	28,837	0	0
VANGUARD INTL EQUITY INDEX FUNDS	FTSE EMR MKT ETF	922042858	221	5,400	SH		DFND	1	5,400	0	0
VANGUARD INTL EQUITY INDEX FUNDS	GLB EX US ETF	922042676	111	2,000	SH		DFND	1	2,000	0	0
VANGUARD INTL EQUITY INDEX FUNDS	FTSE SMCAP ETF	922042718	63	623	SH		DFND	1	623	0	0
VANGUARD INTL EQUITY INDEX FUNDS	FTSE SMCAP ETF	922042718	51	500	SH		DFND	2	500	0	0
VANGUARD SPECIALIZED PORTFOLIO	DIV APP ETF	921908844	109	1,385	SH		DFND	1	1,385	0	0
VANGUARD STAR FD	VG TL INTL STK F	921909768	892	17,720	SH		DFND	1	17,720	0	0
VANGUARD WORLD FDS	INF TECH ETF	92204A702	0	0	SH		DFND	1	0	0	0
VANGUARD WORLD FDS	UTILITES ETF	92204A876	0	1	SH		DFND	1	1	0	0
VANGUARD WORLD FDS	HEALTH CAR ETF	92204A504	0	1	SH		DFND	1	1	0	0
WALT DISNEY CO HOLDING CO	COM DISNEY	254687106	23	200	SH		DFND	1	200	0	0
WEC ENERGY GROUP INC	COM	92939U106	108	2,400	SH		DFND	2	2,400	0	0
WTS AMERICAN INTERNATIONAL GROUP INC	COM	26874156	0	5	SH		DFND	1	5	0	0