Kalos Management 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
Apple Inc.	COM	037833100	1,064	9,409	SH		DFND		0	9,409	0
ABBVIE INC.	COM	00287Y109	554	8,786	SH		DFND		0	8,786	0
ACADIA PHARMACEUTICALS INC COM	COM	004225108	282	8,850	SH		DFND		0	8,850	0
ALLERGAN PLC SHS	COM	G0177J108	304	1,319	SH		DFND		0	1,319	0
Argan Inc Com	COM	04010E109	298	5,037	SH		DFND		0	5,037	0
Yamana Gold Inc Com Npv	COM	98462Y100	48	11,153	SH		DFND		0	11,153	0
Broadcom Limited Shs	COM	Y09827109	3,197	18,529	SH		DFND		0	18,529	0
AMERICAN WTR WKS CO INC NEW COM	COM	030420103	337	4,509	SH		DFND		0	4,509	0
CADENCE DESIGN SYSTEM INC COM	COM	127387108	292	11,456	SH		DFND		0	11,456	0
Cerner Corp	COM	156782104	325	5,269	SH		DFND		0	5,269	0
Chemed Corp New	COM	16359R103	729	5,166	SH		DFND		0	5,166	0
Cummins Inc Formerlycummins Engine Inc	COM	231021106	2,064	16,107	SH		DFND		0	16,107	0
Cinemark Hldgs Inc Com	COM	17243V102	2,030	53,024	SH		DFND		0	53,024	0
Capital One Financial Corporation	COM	14040H105	216	3,010	SH		DFND		0	3,010	0
Cooper-Standard Holdings Inc	COM	21676P103	292	2,956	SH		DFND		0	2,956	0
Cisco Systems Inc	COM	17275R102	924	29,116	SH		DFND		0	29,116	0
Centurytel Inc	COM	156700106	2,404	87,637	SH		DFND		0	87,637	0
SPDR Barclays Conv Secs ETF	ETF	78464A359	1,805	38,924	SH		DFND		0	38,924	0
Dean Foods Company	COM	242370203	1,222	74,510	SH		DFND		0	74,510	0
Walt Disney Co	COM	254687106	289	3,112	SH		DFND		0	3,112	0
iShares Dow Jones Select Dividend	ETF	464287168	1,500	17,499	SH		DFND		0	17,499	0
iShares Inc Mcsi Chile Investable	ETF	464286640	633	17,158	SH		DFND		0	17,158	0
iShares MSCI Emerging Markets Asia	ETF	464286426	867	15,100	SH		DFND		0	15,100	0
iShares MSCI EAFE Index	ETF	464287465	346	5,856	SH		DFND		0	5,856	0
iShares JPMorgan USD Emerging Mkts Bond	ETF	464288281	1,066	9,098	SH		DFND		0	9,098	0
iShares S&P Emerging Mkts	ETF	464288216	797	25,971	SH		DFND		0	25,971	0
iShares MSCI Philippines Invstb Mkt Idx	ETF	46429B408	531	14,256	SH		DFND		0	14,256	0
iShares Tr Msci Poland Investable	ETF	46429B606	553	30,375	SH		DFND		0	30,375	0
iShares Tr Msci All Peru Capped Index Fd	ETF	464289842	519	15,630	SH		DFND		0	15,630	0
iShares MSCI Australia Index	ETF	464286103	455	21,765	SH		DFND		0	21,765	0
iShares MSCI Sweden Index	ETF	464286756	442	15,191	SH		DFND		0	15,191	0
iShares MSCI Germany	ETF	464286806	452	17,219	SH		DFND		0	17,219	0
iShares MSCI Hong Kong Index	ETF	464286871	523	23,756	SH		DFND		0	23,756	0
iShares MSCI Malaysia Index	ETF	46434G814	600	73,931	SH		DFND		0	73,931	0
iShares MSCI Netherlands	ETF	464286814	474	18,912	SH		DFND		0	18,912	0
iShares MSCI Austria Index Fund	ETF	464286202	472	28,935	SH		DFND		0	28,935	0
iShares MSCI Singapore Index	ETF	46434G780	451	41,552	SH		DFND		0	41,552	0
iShares MSCI Taiwan Index Fd	ETF	46434G772	576	36,681	SH		DFND		0	36,681	0
iShares MSCI United Kingdom Ind Fund	ETF	46435G334	375	23,683	SH		DFND		0	23,683	0
SPDR S&P Emerging Markets Small Cap	ETF	78463X756	1,254	29,064	SH		DFND		0	29,064	0
iShares MSCI South Korea Index Fund	ETF	464286772	497	8,542	SH		DFND		0	8,542	0
Facebook Inc Com Usd0.000006 Cl A	COM	30303M102	811	6,324	SH		DFND		0	6,324	0
Fiserv Inc	COM	337738108	284	2,859	SH		DFND		0	2,859	0
FS INVT CORP COM	COM	302635107	301	31,747	SH		DFND		0	31,747	0
iShares FTSE NAREIT Real Estate 50	ETF	464288521	1,510	29,775	SH		DFND		0	29,775	0
General Electric Company	COM	369604103	312	10,524	SH		DFND		0	10,524	0
GILEAD SCIENCES INC COM	COM	375558103	375	4,736	SH		DFND		0	4,736	0
SPDR GOLD SHARES	ETF	78463V107	346	2,751	SH		DFND		0	2,751	0
Gulfmark Offshore Inc	COM	402629208	29	17,171	SH		DFND		0	17,171	0
Corning Incorporated	COM	219350105	202	8,535	SH		DFND		0	8,535	0
GLOBAL NET LEASE INC COM	COM	379378102	134	16,408	SH		DFND		0	16,408	0
Google Cl. C	COM	02079K107	242	311	SH		DFND		0	311	0
Google Cl. A	COM	02079K305	303	377	SH		DFND		0	377	0
Guggenheim China Small Cap	ETF	18383Q853	613	24,584	SH		DFND		0	24,584	0
Home Depot, Inc.	COM	437076102	608	4,723	SH		DFND		0	4,723	0
H &E Equipment Services Inc Com Isin #us	COM	404030108	1,597	95,309	SH		DFND		0	95,309	0
Healthsouth Corp Com New	COM	421924309	1,724	42,494	SH		DFND		0	42,494	0
iShares Tr Iboxx High Yield Corp	ETF	464288513	314	3,600	SH		DFND		0	3,600	0
Advisorshares Tr Peritus High Yield ETF	ETF	00768Y503	395	11,318	SH		DFND		0	11,318	0
International Business Machines Corp	COM	459200101	2,261	14,234	SH		DFND		0	14,234	0
iShares C&S Realty Maj	ETF	464287564	692	6,601	SH		DFND		0	6,601	0
ishares Msci Europe Small-Cap	ETF	464288497	1,665	36,524	SH		DFND		0	36,524	0
ISHARES S&P MID-CAP 400 VALUE ETF	ETF	464287705	1,373	10,320	SH		DFND		0	10,320	0
ISHARES S&P MID-CAP 400 GROWTH ETF	ETF	464287606	1,327	7,595	SH		DFND		0	7,595	0
iShares S&P Smallcap 600 Value Index	ETF	464287879	1,459	11,690	SH		DFND		0	11,690	0
ISHARES S&P SMALL-CAP 600 GROWTH ETF	ETF	464287887	583	4,254	SH		DFND		0	4,254	0
iShares MSCI India	ETF	46429B598	624	21,211	SH		DFND		0	21,211	0
ishares Core US Value ETF	ETF	464287663	1,292	28,015	SH		DFND		0	28,015	0
iShares S&P 500 Index	ETF	464287200	801	3,681	SH		DFND		0	3,681	0
ISHARES S&P 500 GROWTH ETF	ETF	464287309	1,993	16,383	SH		DFND		0	16,383	0
ISHARES RUSSELL 2000 ETF	ETF	464287655	845	6,802	SH		DFND		0	6,802	0
iShares Russell MC Idx	ETF	464287499	1,063	6,097	SH		DFND		0	6,097	0
iShares Tr S&P Global Info	ETF	464287291	1,173	10,599	SH		DFND		0	10,599	0
iShares DJ US Healthcare Sector	ETF	464287762	1,478	9,839	SH		DFND		0	9,839	0
ISHARES U.S. BASIC MATERIALS ETF	ETF	464287838	549	6,952	SH		DFND		0	6,952	0
iShares Tr Dow Jones U S Real Estate	ETF	464287739	1,291	16,006	SH		DFND		0	16,006	0
iShares DJ US Tech Sect Index	ETF	464287721	608	5,106	SH		DFND		0	5,106	0
Henry Jack & Associates Inc	COM	426281101	663	7,754	SH		DFND		0	7,754	0
Johnson & Johnson	COM	478160104	2,137	18,087	SH		DFND		0	18,087	0
JP Morgan Chase & Co.	COM	46625H100	1,410	21,175	SH		DFND		0	21,175	0
Knight Cap Group Inc	COM	48244B100	171	11,034	SH		DFND		0	11,034	0
Kinder Morgan Inc	COM	49456B101	1,511	65,317	SH		DFND		0	65,317	0
Coca Cola Company, Inc.	COM	191216100	302	7,129	SH		DFND		0	7,129	0
Lam Research Corp	COM	512807108	298	3,143	SH		DFND		0	3,143	0
LADENBURG THALMAN FIN SVCS INC PFD SER A %	PFD	50575Q201	416	16,625	SH		DFND		0	16,625	0
McKesson Corporation	COM	58155Q103	2,404	14,417	SH		DFND		0	14,417	0
SPDR S&P MIDCAP 400 ETF	ETF	78467Y107	1,455	5,153	SH		DFND		0	5,153	0
Credit Suisse Nassau Etn Lkd To Cusing	ETN	22542D852	806	37,259	SH		DFND		0	37,259	0
Altria Group Inc	COM	02209S103	582	9,210	SH		DFND		0	9,210	0
MONOGRAM RESIDENTIAL TR INC COM	COM	60979P105	181	16,993	SH		DFND		0	16,993	0
Microsoft Corporation	COM	594918104	592	10,276	SH		DFND		0	10,276	0
Murphy Oil Corporation	COM	626717102	2,128	70,001	SH		DFND		0	70,001	0
Norwegian Cruise Line Hldgs Ltd Com Usd0	COM	G66721104	214	5,671	SH		DFND		0	5,671	0
NETFLIX INC COM	COM	64110L106	221	2,247	SH		DFND		0	2,247	0
NAVIOS MARITIME PARTNERS L P UNIT LPI	LPI	Y62267102	20	14,572	SH		DFND		0	14,572	0
Northstar Rlty Fin Corp Com	COM	66704R803	156	11,814	SH		DFND		0	11,814	0
NEW YORK REIT INC COM	COM	64976L109	268	29,259	SH		DFND		0	29,259	0
Realty Income Corp	COM	756109104	2,968	44,338	SH		DFND		0	44,338	0
OMEGA HEALTHCARE INVS INC COM	COM	681936100	244	6,877	SH		DFND		0	6,877	0
Open Text Co Com Stknpv	COM	683715106	3,083	47,530	SH		DFND		0	47,530	0
PROCTER AND GAMBLE CO COM	COM	742718109	365	4,071	SH		DFND		0	4,071	0
Pimco High Income Fund	ETF	722014107	204	20,432	SH		DFND		0	20,432	0
Powershares ETF Trust II Intl	ETF	73936Q835	1,064	39,975	SH		DFND		0	39,975	0
PROVISION HOLDING INC COM	COM	744121104	2	14,000	SH		DFND		0	14,000	0
iShares MSCI EAFE Small-Cap	ETF	464288273	486	9,269	SH		DFND		0	9,269	0
Spdr Ser Tr Dj Wilshire Small Cap	ETF	78464A300	1,038	9,678	SH		DFND		0	9,678	0
SANCHEZ ENERGY CORP COM	COM	79970Y105	312	35,284	SH		DFND		0	35,284	0
The Southern Company	COM	842587107	366	7,131	SH		DFND		0	7,131	0
SPARTON CORP COM	COM	847235108	223	8,500	SH		DFND		0	8,500	0
Spdr Ser Tr Dj Wilshire Large Cap	ETF	78464A508	375	3,645	SH		DFND		0	3,645	0
Ssga Active Etf Tr Blackstone / Gso SR L	ETF	78467V608	311	6,581	SH		DFND		0	6,581	0
SYNCHRONY FINL COM	COM	87165B103	346	12,344	SH		DFND		0	12,344	0
AT&T	COM	00206R102	315	7,747	SH		DFND		0	7,747	0
Target Corp	COM	87612E106	1,800	26,203	SH		DFND		0	26,203	0
TRECORA RES COM	COM	894648104	136	11,940	SH		DFND		0	11,940	0
The Travelers Cos Inc	COM	89417E109	1,864	16,271	SH		DFND		0	16,271	0
Tyson Foods Incorporated	COM	902494103	291	3,896	SH		DFND		0	3,896	0
Total System Services Inc	COM	891906109	338	7,177	SH		DFND		0	7,177	0
Texas Instruments Incorporated	COM	882508104	398	5,666	SH		DFND		0	5,666	0
UnumProvident Corporation	COM	91529Y106	1,865	52,804	SH		DFND		0	52,804	0
United Rentals Inc	COM	911363109	218	2,773	SH		DFND		0	2,773	0
VISA INC COM CL A	COM	92826C839	511	6,180	SH		DFND		0	6,180	0
Vanguard Inter-Term Corporate Bond	ETF	92206C870	1,010	11,271	SH		DFND		0	11,271	0
Vanguard Europe Pacific ETF	ETF	921943858	1,383	36,981	SH		DFND		0	36,981	0
VEREIT INC COM	COM	92339V100	415	39,995	SH		DFND		0	39,995	0
Market Vectors Etf Tr Vietnam Etf	ETF	92189F817	580	38,417	SH		DFND		0	38,417	0
Vanguard Index Fds S&P 500 Etf Shs	ETF	922908363	4,649	23,397	SH		DFND		0	23,397	0
Ventas Inc	COM	92276F100	370	5,239	SH		DFND		0	5,239	0
Vanguard Emerging Markets Stock ETF	ETF	922042858	1,541	40,962	SH		DFND		0	40,962	0
WESTERN ALLIANCE BANCORP COM	COM	957638109	251	6,695	SH		DFND		0	6,695	0
Wells Fargo & Company	COM	949746101	2,455	55,454	SH		DFND		0	55,454	0
Spdr Ser Tr Db Intl Govt Inflation	ETF	78464A490	874	15,346	SH		DFND		0	15,346	0
Wal-Mart Stores Inc	COM	931142103	2,520	34,948	SH		DFND		0	34,948	0
Wyndham Worldwide Corp	COM	98310W108	1,729	25,684	SH		DFND		0	25,684	0
SPDR Ser Tr S&P Biotech Etf	ETF	78464A870	461	6,952	SH		DFND		0	6,952	0
EXXON MOBIL CORP COM	COM	30231G102	412	4,715	SH		DFND		0	4,715	0
PROSHARES ULTRASHORT SILVER	ETF	74347W114	389	13,706	SH		DFND		0	13,706	0