MD Financial 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
ARCH CAP GROUP LTD	ORD	G0450A105	2,113	54,254	SH		DFND	NONE	54,254	0	0
ATHENE HOLDING LTD	CL A	G0684D107	1,093	16,194	SH		DFND	NONE	16,194	0	0
BUNGE LIMITED	COM	G16962105	1,397	17,882	SH		DFND	NONE	17,882	0	0
IHS MARKIT LTD	SHS	G47567105	1,903	16,891	SH		DFND	NONE	16,891	0	0
INVESCO LTD	SHS	G491BT108	1,369	51,207	SH		DFND	NONE	51,207	0	0
WASTE CONNECTIONS INC	COM	94106B101	2,947	19,902	SH		DFND	NONE	19,902	0	0
CHUBB LIMITED	COM	H1467J104	1,602	10,082	SH		DFND	NONE	10,082	0	0
GARMIN LTD	SHS	H2906T109	2,741	18,948	SH		DFND	NONE	18,948	0	0
ACCENTURE PLC IRELAND	SHS CLASS A	G1151C101	3,578	12,138	SH		DFND	NONE	12,138	0	0
ALLEGION PLC	ORD SHS	G0176J109	1,541	11,066	SH		DFND	NONE	11,066	0	0
PENTAIR PLC	SHS	G7S00T104	1,427	21,147	SH		DFND	NONE	21,147	0	0
JOHNSON CTLS INTL PLC	SHS	G51502105	2,161	31,482	SH		DFND	NONE	31,482	0	0
CHECK POINT SOFTWARE TECH LT	ORD	M22465104	2,787	23,995	SH		DFND	NONE	23,995	0	0
AFLAC INC	COM	001055102	2,812	52,400	SH		DFND	NONE	52,400	0	0
AGNC INVT CORP	COM	00123Q104	1,226	72,597	SH		DFND	NONE	72,597	0	0
ADOBE SYSTEMS INCORPORATED	COM	00724F101	2,768	4,726	SH		DFND	NONE	4,726	0	0
AGILENT TECHNOLOGIES INC	COM	00846U101	3,106	21,014	SH		DFND	NONE	21,014	0	0
ALEXANDRIA REAL ESTATE EQ IN	COM	015271109	2,134	11,729	SH		DFND	NONE	11,729	0	0
ALIBABA GROUP HLDG LTD	SPONSORED ADS	01609W102	17,507	77,200	SH		DFND	NONE	77,200	0	0
ALLIANT ENERGY CORP	COM	018802108	1,844	33,062	SH		DFND	NONE	33,062	0	0
ALLSTATE CORP	COM	020002101	3,060	23,459	SH		DFND	NONE	23,459	0	0
ALLY FINL INC	COM	02005N100	2,407	48,299	SH		DFND	NONE	48,299	0	0
ALPHABET INC	CAP STK CL C	02079K107	9,143	3,648	SH		DFND	NONE	3,648	0	0
ALPHABET INC	CAP STK CL A	02079K305	9,936	4,069	SH		DFND	NONE	4,069	0	0
AMAZON COM INC	COM	023135106	18,972	5,515	SH		DFND	NONE	5,515	0	0
AMERCO	COM	023586100	772	1,310	SH		DFND	NONE	1,310	0	0
AMEREN CORP	COM	023608102	1,974	24,658	SH		DFND	NONE	24,658	0	0
AMERICAN ELEC PWR CO INC	COM	025537101	2,204	26,053	SH		DFND	NONE	26,053	0	0
AMETEK INC	COM	031100100	2,000	14,978	SH		DFND	NONE	14,978	0	0
AMGEN INC	COM	031162100	2,237	9,178	SH		DFND	NONE	9,178	0	0
AMPHENOL CORP NEW	CL A	032095101	2,507	36,645	SH		DFND	NONE	36,645	0	0
ANNALY CAPITAL MANAGEMENT IN	COM	035710409	2,652	298,696	SH		DFND	NONE	298,696	0	0
APPLE INC	COM	037833100	34,245	250,035	SH		DFND	NONE	250,035	0	0
APPLIED MATLS INC	COM	038222105	3,564	25,029	SH		DFND	NONE	25,029	0	0
ARCHER DANIELS MIDLAND CO	COM	039483102	2,225	36,714	SH		DFND	NONE	36,714	0	0
ARROW ELECTRS INC	COM	042735100	1,118	9,820	SH		DFND	NONE	9,820	0	0
ATMOS ENERGY CORP	COM	049560105	1,680	17,485	SH		DFND	NONE	17,485	0	0
AUTOMATIC DATA PROCESSING IN	COM	053015103	2,708	13,635	SH		DFND	NONE	13,635	0	0
AVERY DENNISON CORP	COM	053611109	2,286	10,874	SH		DFND	NONE	10,874	0	0
BAXTER INTL INC	COM	071813109	2,079	25,828	SH		DFND	NONE	25,828	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	3,942	14,184	SH		DFND	NONE	14,184	0	0
BIO RAD LABS INC	CL A	090572207	2,035	3,158	SH		DFND	NONE	3,158	0	0
BLACKROCK INC	COM	09247X101	2,365	2,703	SH		DFND	NONE	2,703	0	0
BROADRIDGE FINL SOLUTIONS IN	COM	11133T103	2,798	17,324	SH		DFND	NONE	17,324	0	0
BROWN FORMAN CORP	CL B	115637209	2,067	27,587	SH		DFND	NONE	27,587	0	0
CIGNA CORP NEW	COM	125523100	2,054	8,663	SH		DFND	NONE	8,663	0	0
CMS ENERGY CORP	COM	125896100	1,957	33,126	SH		DFND	NONE	33,126	0	0
CSX CORP	COM	126408103	1,595	49,722	SH		DFND	NONE	49,722	0	0
CVS HEALTH CORP	COM	126650100	2,280	27,325	SH		DFND	NONE	27,325	0	0
CADENCE DESIGN SYSTEM INC	COM	127387108	2,655	19,404	SH		DFND	NONE	19,404	0	0
CARLYLE GROUP INC	COM	14316J108	878	18,887	SH		DFND	NONE	18,887	0	0
CARRIER GLOBAL CORPORATION	COM	14448C104	1,877	38,617	SH		DFND	NONE	38,617	0	0
CELANESE CORP DEL	COM	150870103	2,243	14,798	SH		DFND	NONE	14,798	0	0
CERNER CORP	COM	156782104	2,184	27,941	SH		DFND	NONE	27,941	0	0
CHURCH & DWIGHT INC	COM	171340102	2,383	27,961	SH		DFND	NONE	27,961	0	0
CINCINNATI FINL CORP	COM	172062101	2,237	19,181	SH		DFND	NONE	19,181	0	0
CISCO SYS INC	COM	17275R102	2,822	53,238	SH		DFND	NONE	53,238	0	0
CITIGROUP INC	COM NEW	172967424	2,442	34,519	SH		DFND	NONE	34,519	0	0
CITIZENS FINANCIAL GROUP INC	COM	174610105	2,276	49,623	SH		DFND	NONE	49,623	0	0
CLOROX CO DEL	COM	189054109	2,607	14,491	SH		DFND	NONE	14,491	0	0
COCA COLA CO	COM	191216100	2,315	42,792	SH		DFND	NONE	42,792	0	0
COMCAST CORP NEW	CL A	20030N101	4,804	84,250	SH		DFND	NONE	84,250	0	0
CONAGRA BRANDS INC	COM	205887102	2,267	62,307	SH		DFND	NONE	62,307	0	0
CONSOLIDATED EDISON INC	COM	209115104	2,108	29,386	SH		DFND	NONE	29,386	0	0
COOPER COS INC	COM NEW	216648402	2,884	7,277	SH		DFND	NONE	7,277	0	0
COPART INC	COM	217204106	1,826	13,850	SH		DFND	NONE	13,850	0	0
CORTEVA INC	COM	22052L104	2,018	45,508	SH		DFND	NONE	45,508	0	0
COSTCO WHSL CORP NEW	COM	22160K105	2,698	6,819	SH		DFND	NONE	6,819	0	0
CUMMINS INC	COM	231021106	1,529	6,270	SH		DFND	NONE	6,270	0	0
D R HORTON INC	COM	23331A109	2,329	25,767	SH		DFND	NONE	25,767	0	0
DTE ENERGY CO	COM	233331107	1,865	14,391	SH		DFND	NONE	14,391	0	0
DEERE & CO	COM	244199105	2,044	5,796	SH		DFND	NONE	5,796	0	0
DOLLAR GEN CORP NEW	COM	256677105	2,421	11,190	SH		DFND	NONE	11,190	0	0
DOVER CORP	COM	260003108	1,865	12,385	SH		DFND	NONE	12,385	0	0
DUKE ENERGY CORP NEW	COM NEW	26441C204	1,994	20,198	SH		DFND	NONE	20,198	0	0
EBAY INC.	COM	278642103	2,670	38,030	SH		DFND	NONE	38,030	0	0
EMERSON ELEC CO	COM	291011104	1,575	16,363	SH		DFND	NONE	16,363	0	0
ENTERGY CORP NEW	COM	29364G103	1,952	19,577	SH		DFND	NONE	19,577	0	0
ETSY INC	COM	29786A106	2,889	14,036	SH		DFND	NONE	14,036	0	0
EVERGY INC	COM	30034W106	1,857	30,737	SH		DFND	NONE	30,737	0	0
EVERSOURCE ENERGY	COM	30040W108	1,928	24,034	SH		DFND	NONE	24,034	0	0
EXELON CORP	COM	30161N101	1,950	44,006	SH		DFND	NONE	44,006	0	0
EXPEDITORS INTL WASH INC	COM	302130109	2,351	18,568	SH		DFND	NONE	18,568	0	0
FACEBOOK INC	CL A	30303M102	6,039	17,367	SH		DFND	NONE	17,367	0	0
FAIR ISAAC CORP	COM	303250104	2,105	4,187	SH		DFND	NONE	4,187	0	0
FASTENAL CO	COM	311900104	2,238	43,040	SH		DFND	NONE	43,040	0	0
F5 NETWORKS INC	COM	315616102	1,590	8,520	SH		DFND	NONE	8,520	0	0
FIFTH THIRD BANCORP	COM	316773100	2,068	54,081	SH		DFND	NONE	54,081	0	0
FIRST TR EXCHANGE TRADED FD	WTR ETF	33733B100	12,014	221,248	SH		DFND	NONE	221,248	0	0
FLEXSHARES TR	MORNSTAR UPSTR	33939L407	101,269	3,379,102	SH		DFND	NONE	3,379,102	0	0
FORD MTR CO DEL	COM	345370860	3,175	213,642	SH		DFND	NONE	213,642	0	0
FORTIVE CORP	COM	34959J108	1,621	23,240	SH		DFND	NONE	23,240	0	0
FOX CORP	CL B COM	35137L204	784	22,265	SH		DFND	NONE	22,265	0	0
FREEPORT-MCMORAN INC	CL B	35671D857	2,149	57,918	SH		DFND	NONE	57,918	0	0
GALLAGHER ARTHUR J & CO	COM	363576109	2,478	17,692	SH		DFND	NONE	17,692	0	0
GENERAC HLDGS INC	COM	368736104	2,591	6,241	SH		DFND	NONE	6,241	0	0
GENERAL DYNAMICS CORP	COM	369550108	1,847	9,812	SH		DFND	NONE	9,812	0	0
GENERAL MLS INC	COM	370334104	2,604	42,731	SH		DFND	NONE	42,731	0	0
GENERAL MTRS CO	COM	37045V100	3,133	52,942	SH		DFND	NONE	52,942	0	0
GLOBAL X FDS	GLOBAL X SILVER	37954Y848	33,722	855,403	SH		DFND	NONE	855,403	0	0
GLOBAL X FDS	LITHIUM BTRY ETF	37954Y855	9,297	259,955	SH		DFND	NONE	259,955	0	0
GOLDMAN SACHS GROUP INC	COM	38141G104	3,001	7,907	SH		DFND	NONE	7,907	0	0
GRAINGER W W INC	COM	384802104	1,719	3,925	SH		DFND	NONE	3,925	0	0
HARTFORD FINL SVCS GROUP INC	COM	416515104	2,164	34,922	SH		DFND	NONE	34,922	0	0
HERSHEY CO	COM	427866108	3,055	17,537	SH		DFND	NONE	17,537	0	0
HOLOGIC INC	COM	436440101	2,400	35,966	SH		DFND	NONE	35,966	0	0
HONEYWELL INTL INC	COM	438516106	1,567	7,142	SH		DFND	NONE	7,142	0	0
HORMEL FOODS CORP	COM	440452100	1,838	38,493	SH		DFND	NONE	38,493	0	0
HUMANA INC	COM	444859102	2,145	4,846	SH		DFND	NONE	4,846	0	0
HUNT J B TRANS SVCS INC	COM	445658107	1,503	9,224	SH		DFND	NONE	9,224	0	0
IDEX CORP	COM	45167R104	1,534	6,972	SH		DFND	NONE	6,972	0	0
IDEXX LABS INC	COM	45168D104	3,052	4,832	SH		DFND	NONE	4,832	0	0
ILLINOIS TOOL WKS INC	COM	452308109	1,975	8,836	SH		DFND	NONE	8,836	0	0
INTEL CORP	COM	458140100	2,365	42,135	SH		DFND	NONE	42,135	0	0
INTERCONTINENTAL EXCHANGE IN	COM	45866F104	2,508	21,132	SH		DFND	NONE	21,132	0	0
INVESCO EXCHANGE TRADED FD T	WATER RES ETF	46137V142	20,656	680,667	SH		DFND	NONE	680,667	0	0
INVESCO EXCHNG TRADED FD TR	S&P GBL WATER	46138E263	13,345	392,377	SH		DFND	NONE	392,377	0	0
INVESCO EXCHNG TRADED FD TR	GLOBAL WATER	46138E651	11,257	426,152	SH		DFND	NONE	426,152	0	0
INVESCO EXCHNG TRADED FD TR	SR LN ETF	46138G508	73,407	3,318,710	SH		DFND	NONE	3,318,710	0	0
INVESCO EXCHNG TRADED FD TR	VAR RATE PFD	46138G870	13,237	537,187	SH		DFND	NONE	537,187	0	0
ISHARES INC	JP MRGN EM HI BD	464286285	9,556	203,163	SH		DFND	NONE	203,163	0	0
ISHARES INC	MSCI CDA ETF	464286509	2,615	70,155	SH		DFND	NONE	70,155	0	0
ISHARES TR	CORE US AGGBD ET	464287226	123,633	1,092,135	SH		DFND	NONE	1,092,135	0	0
ISHARES TR	MSCI EMG MKT ETF	464287234	98,867	1,792,685	SH		DFND	NONE	1,792,685	0	0
ISHARES TR	MSCI EAFE ETF	464287465	123,764	1,569,013	SH		DFND	NONE	1,569,013	0	0
ISHARES TR	GL TIMB FORE ETF	464288174	15,941	249,493	SH		DFND	NONE	249,493	0	0
ISHARES TR	JPMORGAN USD EMG	464288281	85,657	777,729	SH		DFND	NONE	777,729	0	0
ISHARES TR	GLB INFRASTR ETF	464288372	140,145	3,372,809	SH		DFND	NONE	3,372,809	0	0
ISHARES TR	USD INV GRDE ETF	464288620	70,334	1,192,058	SH		DFND	NONE	1,192,058	0	0
ISHARES TR	PFD AND INCM SEC	464288687	31,064	864,894	SH		DFND	NONE	864,894	0	0
ISHARES TR	MICRO-CAP ETF	464288869	42,585	454,083	SH		DFND	NONE	454,083	0	0
ISHARES SILVER TRUST	ISHARES	46428Q109	39,019	1,820,446	SH		DFND	NONE	1,820,446	0	0
ISHARES TR	FLTG RATE NT ETF	46429B655	44,229	871,133	SH		DFND	NONE	871,133	0	0
ISHARES TR	0-5YR INVT GR CP	46434V100	10,333	199,062	SH		DFND	NONE	199,062	0	0
JOHNSON & JOHNSON	COM	478160104	3,295	20,002	SH		DFND	NONE	20,002	0	0
KLA CORP	COM NEW	482480100	3,035	9,360	SH		DFND	NONE	9,360	0	0
KELLOGG CO	COM	487836108	2,075	32,248	SH		DFND	NONE	32,248	0	0
KEURIG DR PEPPER INC	COM	49271V100	2,643	75,003	SH		DFND	NONE	75,003	0	0
KEYSIGHT TECHNOLOGIES INC	COM	49338L103	2,568	16,628	SH		DFND	NONE	16,628	0	0
KNIGHT-SWIFT TRANSN HLDGS IN	CL A	499049104	754	16,595	SH		DFND	NONE	16,595	0	0
KRAFT HEINZ CO	COM	500754106	2,221	54,473	SH		DFND	NONE	54,473	0	0
LKQ CORP	COM	501889208	1,791	36,390	SH		DFND	NONE	36,390	0	0
LABORATORY CORP AMER HLDGS	COM NEW	50540R409	3,130	11,346	SH		DFND	NONE	11,346	0	0
LAM RESEARCH CORP	COM	512807108	3,419	5,254	SH		DFND	NONE	5,254	0	0
LENNAR CORP	CL A	526057104	2,548	25,649	SH		DFND	NONE	25,649	0	0
LOCKHEED MARTIN CORP	COM	539830109	2,220	5,867	SH		DFND	NONE	5,867	0	0
LOWES COS INC	COM	548661107	2,688	13,859	SH		DFND	NONE	13,859	0	0
MARKEL CORP	COM	570535104	2,105	1,774	SH		DFND	NONE	1,774	0	0
MARSH & MCLENNAN COS INC	COM	571748102	2,729	19,397	SH		DFND	NONE	19,397	0	0
MASTERCARD INCORPORATED	CL A	57636Q104	3,035	8,313	SH		DFND	NONE	8,313	0	0
MAXIM INTEGRATED PRODS INC	COM	57772K101	2,935	27,859	SH		DFND	NONE	27,859	0	0
MERCK & CO. INC	COM	58933Y105	2,484	31,937	SH		DFND	NONE	31,937	0	0
METLIFE INC	COM	59156R108	2,586	43,212	SH		DFND	NONE	43,212	0	0
METTLER TOLEDO INTERNATIONAL	COM	592688105	3,163	2,283	SH		DFND	NONE	2,283	0	0
MICROSOFT CORP	COM	594918104	28,233	104,221	SH		DFND	NONE	104,221	0	0
MICRON TECHNOLOGY INC	COM	595112103	2,575	30,297	SH		DFND	NONE	30,297	0	0
MOHAWK INDS INC	COM	608190104	1,484	7,720	SH		DFND	NONE	7,720	0	0
MONDELEZ INTL INC	CL A	609207105	2,568	41,135	SH		DFND	NONE	41,135	0	0
MONSTER BEVERAGE CORP NEW	COM	61174X109	2,820	30,872	SH		DFND	NONE	30,872	0	0
MOODYS CORP	COM	615369105	2,476	6,834	SH		DFND	NONE	6,834	0	0
MORGAN STANLEY	COM NEW	617446448	2,872	31,318	SH		DFND	NONE	31,318	0	0
MOSAIC CO NEW	COM	61945C103	1,541	48,298	SH		DFND	NONE	48,298	0	0
NASDAQ INC	COM	631103108	2,531	14,395	SH		DFND	NONE	14,395	0	0
NEXTERA ENERGY INC	COM	65339F101	1,002	13,667	SH		DFND	NONE	13,667	0	0
NORFOLK SOUTHN CORP	COM	655844108	1,595	6,008	SH		DFND	NONE	6,008	0	0
NORTHROP GRUMMAN CORP	COM	666807102	1,972	5,425	SH		DFND	NONE	5,425	0	0
NUCOR CORP	COM	670346105	2,209	23,025	SH		DFND	NONE	23,025	0	0
OLD DOMINION FREIGHT LINE IN	COM	679580100	2,152	8,480	SH		DFND	NONE	8,480	0	0
ORACLE CORP	COM	68389X105	2,873	36,908	SH		DFND	NONE	36,908	0	0
OWENS CORNING NEW	COM	690742101	1,312	13,406	SH		DFND	NONE	13,406	0	0
PARKER-HANNIFIN CORP	COM	701094104	1,731	5,636	SH		DFND	NONE	5,636	0	0
PAYCHEX INC	COM	704326107	2,879	26,835	SH		DFND	NONE	26,835	0	0
PEPSICO INC	COM	713448108	3,402	22,961	SH		DFND	NONE	22,961	0	0
PINNACLE WEST CAP CORP	COM	723484101	1,231	15,013	SH		DFND	NONE	15,013	0	0
POOL CORP	COM	73278L105	2,169	4,728	SH		DFND	NONE	4,728	0	0
PRICE T ROWE GROUP INC	COM	74144T108	3,199	16,159	SH		DFND	NONE	16,159	0	0
PRINCIPAL FINANCIAL GROUP IN	COM	74251V102	2,279	36,073	SH		DFND	NONE	36,073	0	0
PROCTER AND GAMBLE CO	COM	742718109	3,100	22,974	SH		DFND	NONE	22,974	0	0
PROGRESSIVE CORP	COM	743315103	2,634	26,821	SH		DFND	NONE	26,821	0	0
PUBLIC SVC ENTERPRISE GRP IN	COM	744573106	1,889	31,623	SH		DFND	NONE	31,623	0	0
PUBLIC STORAGE	COM	74460D109	2,494	8,295	SH		DFND	NONE	8,295	0	0
QUALCOMM INC	COM	747525103	2,603	18,215	SH		DFND	NONE	18,215	0	0
QUEST DIAGNOSTICS INC	COM	74834L100	2,325	17,618	SH		DFND	NONE	17,618	0	0
RPM INTL INC	COM	749685103	1,529	17,238	SH		DFND	NONE	17,238	0	0
REGENERON PHARMACEUTICALS	COM	75886F107	2,641	4,728	SH		DFND	NONE	4,728	0	0
REPUBLIC SVCS INC	COM	760759100	2,007	18,241	SH		DFND	NONE	18,241	0	0
ROBERT HALF INTL INC	COM	770323103	1,345	15,115	SH		DFND	NONE	15,115	0	0
ROCKWELL AUTOMATION INC	COM	773903109	2,295	8,025	SH		DFND	NONE	8,025	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	190,748	445,610	SH		DFND	NONE	445,610	0	0
SPDR GOLD TRUST	GOLD SHS	78463V107	47,499	278,698	SH		DFND	NONE	278,698	0	0
SPDR INDEX SHS FDS	GLB NAT RESRCE	78463X541	52,665	1,253,217	SH		DFND	NONE	1,253,217	0	0
SPDR INDEX SHS FDS	DJ INTL RL ETF	78463X863	80,359	2,353,832	SH		DFND	NONE	2,353,832	0	0
SPDR SERIES TRUST	BLMBRG BRC CNVRT	78464A359	56,669	945,901	SH		DFND	NONE	945,901	0	0
SPDR SERIES TRUST	FTSE INT GVT ETF	78464A490	15,906	297,787	SH		DFND	NONE	297,787	0	0
SPDR SERIES TRUST	BLOMBERG INTL TR	78464A516	49,811	1,713,568	SH		DFND	NONE	1,713,568	0	0
SPDR SER TR	BLOOMBERG SRT TR	78468R408	31,453	1,152,671	SH		DFND	NONE	1,152,671	0	0
SPDR SERIES TRUST	BLOOMBERG BRCLYS	78468R622	77,835	729,059	SH		DFND	NONE	729,059	0	0
SCHWAB STRATEGIC TR	US TIPS ETF	808524870	100,297	1,732,192	SH		DFND	NONE	1,732,192	0	0
SELECT SECTOR SPDR TR	SBI MATERIALS	81369Y100	21,993	267,198	SH		DFND	NONE	267,198	0	0
SELECT SECTOR SPDR TR	SBI HEALTHCARE	81369Y209	23,782	188,817	SH		DFND	NONE	188,817	0	0
SELECT SECTOR SPDR TR	SBI CONS DISCR	81369Y407	63,553	355,940	SH		DFND	NONE	355,940	0	0
SELECT SECTOR SPDR TR	ENERGY	81369Y506	21,543	399,898	SH		DFND	NONE	399,898	0	0
SELECT SECTOR SPDR TR	SBI INT-FINL	81369Y605	75,401	2,055,077	SH		DFND	NONE	2,055,077	0	0
SELECT SECTOR SPDR TR	SBI INT-INDS	81369Y704	67,623	660,383	SH		DFND	NONE	660,383	0	0
SELECT SECTOR SPDR TR	TECHNOLOGY	81369Y803	113,702	770,027	SH		DFND	NONE	770,027	0	0
SELECT SECTOR SPDR TR	COMMUNICATION	81369Y852	45,098	556,967	SH		DFND	NONE	556,967	0	0
SEMPRA ENERGY	COM	816851109	2,170	16,379	SH		DFND	NONE	16,379	0	0
SHERWIN WILLIAMS CO	COM	824348106	2,508	9,204	SH		DFND	NONE	9,204	0	0
SKYWORKS SOLUTIONS INC	COM	83088M102	2,817	14,693	SH		DFND	NONE	14,693	0	0
SMUCKER J M CO	COM NEW	832696405	1,921	14,824	SH		DFND	NONE	14,824	0	0
SNAP ON INC	COM	833034101	1,446	6,473	SH		DFND	NONE	6,473	0	0
SOUTHERN CO	COM	842587107	2,019	33,360	SH		DFND	NONE	33,360	0	0
STEEL DYNAMICS INC	COM	858119100	1,444	24,224	SH		DFND	NONE	24,224	0	0
SYNCHRONY FINANCIAL	COM	87165B103	2,411	49,689	SH		DFND	NONE	49,689	0	0
TARGET CORP	COM	87612E106	2,833	11,718	SH		DFND	NONE	11,718	0	0
TERADYNE INC	COM	880770102	2,741	20,459	SH		DFND	NONE	20,459	0	0
TEXAS INSTRS INC	COM	882508104	3,691	19,194	SH		DFND	NONE	19,194	0	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	2,230	4,421	SH		DFND	NONE	4,421	0	0
3M CO	COM	88579Y101	2,552	12,849	SH		DFND	NONE	12,849	0	0
TRACTOR SUPPLY CO	COM	892356106	2,132	11,461	SH		DFND	NONE	11,461	0	0
TRAVELERS COMPANIES INC	COM	89417E109	2,275	15,196	SH		DFND	NONE	15,196	0	0
TRIMBLE INC	COM	896239100	2,646	32,336	SH		DFND	NONE	32,336	0	0
TYSON FOODS INC	CL A	902494103	2,010	27,250	SH		DFND	NONE	27,250	0	0
UGI CORP NEW	COM	902681105	1,233	26,618	SH		DFND	NONE	26,618	0	0
UNITED PARCEL SERVICE INC	CL B	911312106	1,869	8,988	SH		DFND	NONE	8,988	0	0
UNITED RENTALS INC	COM	911363109	1,499	4,700	SH		DFND	NONE	4,700	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	2,671	6,669	SH		DFND	NONE	6,669	0	0
VANECK VECTORS ETF TR	GOLD MINERS ETF	92189F106	75,550	2,346,685	SH		DFND	NONE	2,346,685	0	0
VANECK VECTORS ETF TR	INTL HIGH YIELD	92189F445	3,393	139,223	SH		DFND	NONE	139,223	0	0
VANECK VECTORS ETF TR	AGRIBUSINESS ETF	92189F700	45,292	728,830	SH		DFND	NONE	728,830	0	0
VANECK VECTORS ETF TR	JP MORGAN MKTS	92189H300	59,250	1,684,693	SH		DFND	NONE	1,684,693	0	0
VANGUARD WHITEHALL FDS INC	EMERG MKT BD ETF	921946885	13,756	173,508	SH		DFND	NONE	173,508	0	0
VANGUARD CHARLOTTE FDS	INTL BD IDX ETF	92203J407	44,197	775,709	SH		DFND	NONE	775,709	0	0
VANGUARD INTL EQUITY INDEX F	FTSE SMCAP ETF	922042718	89,699	879,228	SH		DFND	NONE	879,228	0	0
VANGUARD SCOTTSDALE FDS	MORTG-BACK SEC	92206C771	71,427	1,345,418	SH		DFND	NONE	1,345,418	0	0
VANGUARD INDEX FDS	REAL ESTATE ETF	922908553	129,157	1,537,185	SH		DFND	NONE	1,537,185	0	0
VANGUARD INDEX FDS	SM CP VAL ETF	922908611	29,592	196,227	SH		DFND	NONE	196,227	0	0
VANGUARD INDEX FDS	SMALL CP ETF	922908751	100,185	661,134	SH		DFND	NONE	661,134	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	5,158	92,066	SH		DFND	NONE	92,066	0	0
VIACOMCBS INC	CL B	92556H206	3,535	78,201	SH		DFND	NONE	78,201	0	0
VICI PPTYS INC	COM	925652109	2,170	69,949	SH		DFND	NONE	69,949	0	0
VISA INC	COM CL A	92826C839	2,434	10,410	SH		DFND	NONE	10,410	0	0
WEC ENERGY GROUP INC	COM	92939U106	1,972	22,172	SH		DFND	NONE	22,172	0	0
WALMART INC	COM	931142103	2,266	16,069	SH		DFND	NONE	16,069	0	0
WASTE MGMT INC DEL	COM	94106L109	2,224	15,871	SH		DFND	NONE	15,871	0	0
WHIRLPOOL CORP	COM	963320106	1,781	8,169	SH		DFND	NONE	8,169	0	0
XCEL ENERGY INC	COM	98389B100	1,883	28,583	SH		DFND	NONE	28,583	0	0
ZEBRA TECHNOLOGIES CORPORATI	CL A	989207105	3,214	6,070	SH		DFND	NONE	6,070	0	0
ZOETIS INC	CL A	98978V103	2,257	12,111	SH		DFND	NONE	12,111	0	0
BECTON DICKINSON & CO	COM	075887109	661	2,719	SH		DFND	NONE	2,719	0	0
BRISTOL-MYERS SQUIBB CO	COM	110122108	95	1,425	SH		DFND	NONE	1,425	0	0
CATERPILLAR INC DEL	COM	149123101	44	200	SH		DFND	NONE	200	0	0
CHEVRON CORP NEW	COM	166764100	5	48	SH		DFND	NONE	48	0	0
COGNIZANT TECHNOLOGY SOLUTIO	CL A	192446102	372	5,364	SH		DFND	NONE	5,364	0	0
COLGATE PALMOLIVE CO	COM	194162103	48	587	SH		DFND	NONE	587	0	0
ECHOSTAR CORP	CL A	278768106	15	500	SH		DFND	NONE	500	0	0
EQUIFAX INC	COM	294429105	304	1,269	SH		DFND	NONE	1,269	0	0
HOME DEPOT INC	COM	437076102	317	993	SH		DFND	NONE	993	0	0
INTERNATIONAL BUSINESS MACHS	COM	459200101	22	148	SH		DFND	NONE	148	0	0
INTERNATIONAL FLAVORS&FRAGRA	COM	459506101	12	79	SH		DFND	NONE	79	0	0
INTUIT	COM	461202103	533	1,087	SH		DFND	NONE	1,087	0	0
LILLY ELI & CO	COM	532457108	16	71	SH		DFND	NONE	71	0	0
MCDONALDS CORP	COM	580135101	57	245	SH		DFND	NONE	245	0	0
NEWMONT CORP	COM	651639106	39	622	SH		DFND	NONE	622	0	0
NIKE INC	CL B	654106103	572	3,703	SH		DFND	NONE	3,703	0	0
OMNICOM GROUP INC	COM	681919106	12	145	SH		DFND	NONE	145	0	0
PFIZER INC	COM	717081103	463	11,813	SH		DFND	NONE	11,813	0	0
PHILIP MORRIS INTL INC	COM	718172109	22	175	SH		DFND	NONE	175	0	0
STARBUCKS CORP	COM	855244109	410	3,671	SH		DFND	NONE	3,671	0	0
STATE STR CORP	COM	857477103	49	600	SH		DFND	NONE	600	0	0
STRYKER CORPORATION	COM	863667101	632	2,433	SH		DFND	NONE	2,433	0	0
TJX COS INC NEW	COM	872540109	238	3,527	SH		DFND	NONE	3,527	0	0
UNILEVER PLC	SPON ADR NEW	904767704	65	1,117	SH		DFND	NONE	1,117	0	0
V F CORP	COM	918204108	2	27	SH		DFND	NONE	27	0	0
VANGUARD BD INDEX FDS	SHORT TRM BOND	921937827	13	130	SH		DFND	NONE	130	0	0
VANGUARD TAX-MANAGED INTL FD	FTSE DEV MKT ETF	921943858	18	284	SH		DFND	NONE	284	0	0
VANGUARD INTL EQUITY INDEX F	FTSE EMR MKT ETF	922042858	17	252	SH		DFND	NONE	252	0	0
WALGREENS BOOTS ALLIANCE INC	COM	931427108	8	158	SH		DFND	NONE	158	0	0
WELLS FARGO CO NEW	COM	949746101	15	330	SH		DFND	NONE	330	0	0
CDK GLOBAL INC	COM	12508E101	16	266	SH		DFND	NONE	266	0	0
BCE INC	PUT	05534B950	320	5,232	SH		DFND	NONE	5,232	0	0
BROOKFIELD INFRASTRUCTURE CO	COM SB VTG SHS A	11275Q107	18	200	SH		DFND	NONE	200	0	0
CONSTELLATION BRANDS INC	CL A	21036P108	11	45	SH		DFND	NONE	45	0	0
DIAGEO PLC	SPON ADR NEW	25243Q205	91	383	SH		DFND	NONE	383	0	0
FEDEX CORP	COM	31428X106	12	40	SH		DFND	NONE	40	0	0
GLAXOSMITHKLINE PLC	SPONSORED ADR	37733W105	6	127	SH		DFND	NONE	127	0	0
JPMORGAN CHASE & CO	COM	46625H100	186	1,199	SH		DFND	NONE	1,199	0	0
LEXARIA BIOSCIENCE CORP	COM NEW	52886N406	23	2,686	SH		DFND	NONE	2,686	0	0
OVINTIV INC	COM	69047Q102	65	1,670	SH		DFND	NONE	1,670	0	0
PRECISION DRILLING CORP	COM NEW	74022D407	7	139	SH		DFND	NONE	139	0	0
SPDR INDEX SHS FDS	EURO STOXX 50	78463X202	15	250	SH		DFND	NONE	250	0	0
VERISK ANALYTICS INC	COM	92345Y106	119	681	SH		DFND	NONE	681	0	0
VIATRIS INC	COM	92556V106	18	1,248	SH		DFND	NONE	1,248	0	0
LINDE PLC	SHS	G5494J103	14	48	SH		DFND	NONE	48	0	0
MEDTRONIC PLC	SHS	G5960L103	13	105	SH		DFND	NONE	105	0	0
STERIS PLC	SHS USD	G8473T100	22	105	SH		DFND	NONE	105	0	0