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	2,377	53,467	SH		DFND	NONE	53,467	0	0
ATHENE HOLDING LTD	CL A	G0684D107	1,510	18,124	SH		DFND	NONE	18,124	0	0
BUNGE LIMITED	COM	G16962105	1,734	18,575	SH		DFND	NONE	18,575	0	0
IHS MARKIT LTD	SHS	G47567105	2,050	15,421	SH		DFND	NONE	15,421	0	0
INVESCO LTD	SHS	G491BT108	1,038	45,097	SH		DFND	NONE	45,097	0	0
WASTE CONNECTIONS INC	COM	94106B101	2,883	21,159	SH		DFND	NONE	21,159	0	0
CHUBB LIMITED	COM	H1467J104	2,919	15,100	SH		DFND	NONE	15,100	0	0
GARMIN LTD	SHS	H2906T109	2,680	19,684	SH		DFND	NONE	19,684	0	0
LIBERTY GLOBAL PLC	SHS CL A	G5480U104	607	21,864	SH		DFND	NONE	21,864	0	0
LIBERTY GLOBAL PLC	SHS CL C	G5480U120	1,343	47,825	SH		DFND	NONE	47,825	0	0
ACCENTURE PLC IRELAND	SHS CLASS A	G1151C101	5,450	13,146	SH		DFND	NONE	13,146	0	0
ALLEGION PLC	ORD SHS	G0176J109	1,518	11,464	SH		DFND	NONE	11,464	0	0
PENTAIR PLC	SHS	G7S00T104	1,598	21,878	SH		DFND	NONE	21,878	0	0
JOHNSON CTLS INTL PLC	SHS	G51502105	2,518	30,972	SH		DFND	NONE	30,972	0	0
CHECK POINT SOFTWARE TECH LT	ORD	M22465104	2,933	25,165	SH		DFND	NONE	25,165	0	0
AFLAC INC	COM	001055102	3,259	55,807	SH		DFND	NONE	55,807	0	0
AGNC INVT CORP	COM	00123Q104	1,034	68,748	SH		DFND	NONE	68,748	0	0
ADOBE SYSTEMS INCORPORATED	COM	00724F101	2,606	4,595	SH		DFND	NONE	4,595	0	0
AGILENT TECHNOLOGIES INC	COM	00846U101	2,655	16,627	SH		DFND	NONE	16,627	0	0
ALEXANDRIA REAL ESTATE EQ IN	COM	015271109	2,678	12,009	SH		DFND	NONE	12,009	0	0
ALIBABA GROUP HLDG LTD	SPONSORED ADS	01609W102	9,171	77,200	SH		DFND	NONE	77,200	0	0
ALLIANT ENERGY CORP	COM	018802108	2,064	33,584	SH		DFND	NONE	33,584	0	0
ALLSTATE CORP	COM	020002101	3,927	33,376	SH		DFND	NONE	33,376	0	0
ALLY FINL INC	COM	02005N100	2,214	46,513	SH		DFND	NONE	46,513	0	0
ALPHABET INC	CAP STK CL C	02079K107	6,363	2,199	SH		DFND	NONE	2,199	0	0
ALPHABET INC	CAP STK CL A	02079K305	8,245	2,846	SH		DFND	NONE	2,846	0	0
AMAZON COM INC	COM	023135106	16,062	4,817	SH		DFND	NONE	4,817	0	0
AMERCO	COM	023586100	940	1,295	SH		DFND	NONE	1,295	0	0
AMEREN CORP	COM	023608102	2,270	25,508	SH		DFND	NONE	25,508	0	0
AMERICAN ELEC PWR CO INC	COM	025537101	2,614	29,386	SH		DFND	NONE	29,386	0	0
AMETEK INC	COM	031100100	1,895	12,890	SH		DFND	NONE	12,890	0	0
AMGEN INC	COM	031162100	2,109	9,376	SH		DFND	NONE	9,376	0	0
AMPHENOL CORP NEW	CL A	032095101	3,395	38,813	SH		DFND	NONE	38,813	0	0
ANALOG DEVICES INC	COM	032654105	2,238	12,731	SH		DFND	NONE	12,731	0	0
ANNALY CAPITAL MANAGEMENT IN	COM	035710409	1,423	182,006	SH		DFND	NONE	182,006	0	0
APPLE INC	COM	037833100	41,053	231,192	SH		DFND	NONE	231,192	0	0
APPLIED MATLS INC	COM	038222105	2,940	18,685	SH		DFND	NONE	18,685	0	0
ARCHER DANIELS MIDLAND CO	COM	039483102	2,750	40,686	SH		DFND	NONE	40,686	0	0
ARROW ELECTRS INC	COM	042735100	1,247	9,285	SH		DFND	NONE	9,285	0	0
ATMOS ENERGY CORP	COM	049560105	1,747	16,673	SH		DFND	NONE	16,673	0	0
AUTOMATIC DATA PROCESSING IN	COM	053015103	4,394	17,820	SH		DFND	NONE	17,820	0	0
AVALONBAY CMNTYS INC	COM	053484101	3,014	11,931	SH		DFND	NONE	11,931	0	0
AVERY DENNISON CORP	COM	053611109	1,968	9,089	SH		DFND	NONE	9,089	0	0
BAXTER INTL INC	COM	071813109	2,305	26,852	SH		DFND	NONE	26,852	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	4,687	15,675	SH		DFND	NONE	15,675	0	0
BIO RAD LABS INC	CL A	090572207	2,382	3,153	SH		DFND	NONE	3,153	0	0
BLACKSTONE GROUP INC	COM	09260D107	2,811	21,722	SH		DFND	NONE	21,722	0	0
BROADRIDGE FINL SOLUTIONS IN	COM	11133T103	3,186	17,428	SH		DFND	NONE	17,428	0	0
BROWN FORMAN CORP	CL B	115637209	2,068	28,389	SH		DFND	NONE	28,389	0	0
CIGNA CORP NEW	COM	125523100	2,277	9,917	SH		DFND	NONE	9,917	0	0
CMS ENERGY CORP	COM	125896100	2,176	33,454	SH		DFND	NONE	33,454	0	0
CSX CORP	COM	126408103	1,941	51,613	SH		DFND	NONE	51,613	0	0
CVS HEALTH CORP	COM	126650100	2,695	26,129	SH		DFND	NONE	26,129	0	0
CADENCE DESIGN SYSTEM INC	COM	127387108	2,508	13,460	SH		DFND	NONE	13,460	0	0
CAMDEN PPTY TR	SH BEN INT	133131102	2,283	12,777	SH		DFND	NONE	12,777	0	0
CAPITAL ONE FINL CORP	COM	14040H105	3,259	22,460	SH		DFND	NONE	22,460	0	0
CARLYLE GROUP INC	COM	14316J108	1,105	20,136	SH		DFND	NONE	20,136	0	0
CARRIER GLOBAL CORPORATION	COM	14448C104	1,884	34,740	SH		DFND	NONE	34,740	0	0
CELANESE CORP DEL	COM	150870103	2,379	14,157	SH		DFND	NONE	14,157	0	0
CERNER CORP	COM	156782104	2,801	30,161	SH		DFND	NONE	30,161	0	0
CHURCH & DWIGHT INC	COM	171340102	3,037	29,633	SH		DFND	NONE	29,633	0	0
CINCINNATI FINL CORP	COM	172062101	2,277	19,990	SH		DFND	NONE	19,990	0	0
CISCO SYS INC	COM	17275R102	4,002	63,152	SH		DFND	NONE	63,152	0	0
CITIGROUP INC	COM NEW	172967424	2,542	42,095	SH		DFND	NONE	42,095	0	0
CITIZENS FINANCIAL GROUP INC	COM	174610105	2,507	53,065	SH		DFND	NONE	53,065	0	0
COCA COLA CO	COM	191216100	3,098	52,325	SH		DFND	NONE	52,325	0	0
COLGATE PALMOLIVE CO	COM	194162103	3,663	42,920	SH		DFND	NONE	42,920	0	0
COMCAST CORP NEW	CL A	20030N101	4,008	79,636	SH		DFND	NONE	79,636	0	0
CONAGRA BRANDS INC	COM	205887102	2,155	63,104	SH		DFND	NONE	63,104	0	0
CONSOLIDATED EDISON INC	COM	209115104	2,638	30,916	SH		DFND	NONE	30,916	0	0
COOPER COS INC	COM NEW	216648402	2,728	6,511	SH		DFND	NONE	6,511	0	0
COPART INC	COM	217204106	2,119	13,979	SH		DFND	NONE	13,979	0	0
CORTEVA INC	COM	22052L104	1,768	37,400	SH		DFND	NONE	37,400	0	0
COSTCO WHSL CORP NEW	COM	22160K105	3,705	6,527	SH		DFND	NONE	6,527	0	0
CUMMINS INC	COM	231021106	1,576	7,224	SH		DFND	NONE	7,224	0	0
D R HORTON INC	COM	23331A109	2,451	22,602	SH		DFND	NONE	22,602	0	0
DTE ENERGY CO	COM	233331107	2,269	18,982	SH		DFND	NONE	18,982	0	0
DOLLAR GEN CORP NEW	COM	256677105	2,313	9,808	SH		DFND	NONE	9,808	0	0
DOVER CORP	COM	260003108	2,551	14,047	SH		DFND	NONE	14,047	0	0
DUKE REALTY CORP	COM NEW	264411505	3,207	48,865	SH		DFND	NONE	48,865	0	0
DUKE ENERGY CORP NEW	COM NEW	26441C204	2,671	25,467	SH		DFND	NONE	25,467	0	0
EBAY INC.	COM	278642103	1,809	27,206	SH		DFND	NONE	27,206	0	0
EMERSON ELEC CO	COM	291011104	1,680	18,066	SH		DFND	NONE	18,066	0	0
ENTERGY CORP NEW	COM	29364G103	2,275	20,197	SH		DFND	NONE	20,197	0	0
EPAM SYS INC	COM	29414B104	2,868	4,291	SH		DFND	NONE	4,291	0	0
EVERGY INC	COM	30034W106	2,056	29,972	SH		DFND	NONE	29,972	0	0
EVERSOURCE ENERGY	COM	30040W108	2,095	23,029	SH		DFND	NONE	23,029	0	0
EXELON CORP	COM	30161N101	2,555	44,236	SH		DFND	NONE	44,236	0	0
EXPEDITORS INTL WASH INC	COM	302130109	2,298	17,111	SH		DFND	NONE	17,111	0	0
EXTRA SPACE STORAGE INC	COM	30225T102	2,841	12,529	SH		DFND	NONE	12,529	0	0
FACEBOOK INC	CL A	30303M102	4,739	14,089	SH		DFND	NONE	14,089	0	0
FAIR ISAAC CORP	COM	303250104	1,670	3,850	SH		DFND	NONE	3,850	0	0
FASTENAL CO	COM	311900104	2,723	42,501	SH		DFND	NONE	42,501	0	0
FIFTH THIRD BANCORP	COM	316773100	2,325	53,384	SH		DFND	NONE	53,384	0	0
FIRST TR EXCHANGE TRADED FD	WTR ETF	33733B100	19,510	205,804	SH		DFND	NONE	205,804	0	0
FLEXSHARES TR	MORNSTAR UPSTR	33939L407	126,011	3,190,957	SH		DFND	NONE	3,190,957	0	0
FORD MTR CO DEL	COM	345370860	1,814	87,345	SH		DFND	NONE	87,345	0	0
FORTINET INC	COM	34959E109	3,470	9,654	SH		DFND	NONE	9,654	0	0
FORTIVE CORP	COM	34959J108	2,041	26,748	SH		DFND	NONE	26,748	0	0
FOX CORP	CL B COM	35137L204	674	19,670	SH		DFND	NONE	19,670	0	0
GALLAGHER ARTHUR J & CO	COM	363576109	2,762	16,279	SH		DFND	NONE	16,279	0	0
GARTNER INC	COM	366651107	3,656	10,936	SH		DFND	NONE	10,936	0	0
GENERAC HLDGS INC	COM	368736104	1,325	3,764	SH		DFND	NONE	3,764	0	0
GENERAL DYNAMICS CORP	COM	369550108	2,924	14,027	SH		DFND	NONE	14,027	0	0
GENERAL MLS INC	COM	370334104	2,831	42,009	SH		DFND	NONE	42,009	0	0
GENERAL MTRS CO	COM	37045V100	2,218	37,824	SH		DFND	NONE	37,824	0	0
GLOBAL X FDS	GLOBAL X SILVER	37954Y848	37,609	1,025,316	SH		DFND	NONE	1,025,316	0	0
GLOBAL X FDS	LITHIUM BTRY ETF	37954Y855	17,439	206,520	SH		DFND	NONE	206,520	0	0
GOLDMAN SACHS GROUP INC	COM	38141G104	2,896	7,569	SH		DFND	NONE	7,569	0	0
GRAINGER W W INC	COM	384802104	2,261	4,363	SH		DFND	NONE	4,363	0	0
HERSHEY CO	COM	427866108	3,668	18,961	SH		DFND	NONE	18,961	0	0
HOLOGIC INC	COM	436440101	2,356	30,774	SH		DFND	NONE	30,774	0	0
HOME DEPOT INC	COM	437076102	4,004	9,647	SH		DFND	NONE	9,647	0	0
HONEYWELL INTL INC	COM	438516106	1,891	9,067	SH		DFND	NONE	9,067	0	0
HUMANA INC	COM	444859102	1,694	3,652	SH		DFND	NONE	3,652	0	0
IDEX CORP	COM	45167R104	1,737	7,350	SH		DFND	NONE	7,350	0	0
IDEXX LABS INC	COM	45168D104	3,258	4,948	SH		DFND	NONE	4,948	0	0
ILLINOIS TOOL WKS INC	COM	452308109	3,019	12,231	SH		DFND	NONE	12,231	0	0
INTEL CORP	COM	458140100	2,551	49,541	SH		DFND	NONE	49,541	0	0
INTERCONTINENTAL EXCHANGE IN	COM	45866F104	2,610	19,084	SH		DFND	NONE	19,084	0	0
INVESCO EXCHANGE TRADED FD T	WATER RES ETF	46137V142	38,408	631,298	SH		DFND	NONE	631,298	0	0
INVESCO EXCHNG TRADED FD TR	S&P GBL WATER	46138E263	20,945	345,459	SH		DFND	NONE	345,459	0	0
INVESCO EXCHNG TRADED FD TR	GLOBAL WATER	46138E651	17,644	406,058	SH		DFND	NONE	406,058	0	0
INVESCO EXCHNG TRADED FD TR	SR LN ETF	46138G508	76,352	3,454,839	SH		DFND	NONE	3,454,839	0	0
INVESCO EXCHNG TRADED FD TR	VAR RATE PFD	46138G870	6,670	257,343	SH		DFND	NONE	257,343	0	0
ISHARES INC	JP MRGN EM HI BD	464286285	9,742	226,131	SH		DFND	NONE	226,131	0	0
ISHARES INC	MSCI GBL MIN VOL	464286525	157,185	1,451,655	SH		DFND	NONE	1,451,655	0	0
ISHARES TR	CORE S&P500 ETF	464287200	60,350	126,523	SH		DFND	NONE	126,523	0	0
ISHARES TR	CORE US AGGBD ET	464287226	129,686	1,136,797	SH		DFND	NONE	1,136,797	0	0
ISHARES TR	GL TIMB FORE ETF	464288174	22,867	248,472	SH		DFND	NONE	248,472	0	0
ISHARES TR	JPMORGAN USD EMG	464288281	122,181	1,120,312	SH		DFND	NONE	1,120,312	0	0
ISHARES TR	GLB INFRASTR ETF	464288372	165,222	3,471,770	SH		DFND	NONE	3,471,770	0	0
ISHARES TR	USD INV GRDE ETF	464288620	33,460	560,101	SH		DFND	NONE	560,101	0	0
ISHARES TR	PFD AND INCM SEC	464288687	34,517	875,399	SH		DFND	NONE	875,399	0	0
ISHARES TR	MICRO-CAP ETF	464288869	71,368	510,755	SH		DFND	NONE	510,755	0	0
ISHARES SILVER TRUST	ISHARES	46428Q109	46,036	2,140,225	SH		DFND	NONE	2,140,225	0	0
ISHARES TR	US TREAS BD ETF	46429B267	158,591	5,944,181	SH		DFND	NONE	5,944,181	0	0
ISHARES TR	FLTG RATE NT ETF	46429B655	45,147	889,949	SH		DFND	NONE	889,949	0	0
ISHARES TR	CORE MSCI EAFE	46432F842	128,401	1,720,274	SH		DFND	NONE	1,720,274	0	0
ISHARES INC	CORE MSCI EMKT	46434G103	150,393	2,512,415	SH		DFND	NONE	2,512,415	0	0
ISHARES TR	0-5YR INVT GR CP	46434V100	11,075	216,941	SH		DFND	NONE	216,941	0	0
JOHNSON & JOHNSON	COM	478160104	4,301	25,144	SH		DFND	NONE	25,144	0	0
KLA CORP	COM NEW	482480100	3,093	7,192	SH		DFND	NONE	7,192	0	0
KELLOGG CO	COM	487836108	2,103	32,651	SH		DFND	NONE	32,651	0	0
KEURIG DR PEPPER INC	COM	49271V100	2,501	67,854	SH		DFND	NONE	67,854	0	0
KEYSIGHT TECHNOLOGIES INC	COM	49338L103	3,495	16,926	SH		DFND	NONE	16,926	0	0
KNIGHT-SWIFT TRANSN HLDGS IN	CL A	499049104	1,216	19,949	SH		DFND	NONE	19,949	0	0
KRAFT HEINZ CO	COM	500754106	2,384	66,400	SH		DFND	NONE	66,400	0	0
LKQ CORP	COM	501889208	2,172	36,175	SH		DFND	NONE	36,175	0	0
L3HARRIS TECHNOLOGIES INC	COM	502431109	2,331	10,932	SH		DFND	NONE	10,932	0	0
LABORATORY CORP AMER HLDGS	COM NEW	50540R409	3,507	11,160	SH		DFND	NONE	11,160	0	0
LAM RESEARCH CORP	COM	512807108	3,606	5,014	SH		DFND	NONE	5,014	0	0
LENNAR CORP	CL A	526057104	2,458	21,157	SH		DFND	NONE	21,157	0	0
LOCKHEED MARTIN CORP	COM	539830109	2,049	5,766	SH		DFND	NONE	5,766	0	0
LOEWS CORP	COM	540424108	1,667	28,856	SH		DFND	NONE	28,856	0	0
MARKEL CORP	COM	570535104	2,251	1,824	SH		DFND	NONE	1,824	0	0
MARSH & MCLENNAN COS INC	COM	571748102	3,980	22,895	SH		DFND	NONE	22,895	0	0
MASTERCARD INCORPORATED	CL A	57636Q104	3,754	10,448	SH		DFND	NONE	10,448	0	0
MERCK & CO. INC	COM	58933Y105	1,543	20,136	SH		DFND	NONE	20,136	0	0
METLIFE INC	COM	59156R108	2,792	44,673	SH		DFND	NONE	44,673	0	0
METTLER TOLEDO INTERNATIONAL	COM	592688105	3,289	1,938	SH		DFND	NONE	1,938	0	0
MICROSOFT CORP	COM	594918104	34,731	103,268	SH		DFND	NONE	103,268	0	0
MID-AMER APT CMNTYS INC	COM	59522J103	3,504	15,270	SH		DFND	NONE	15,270	0	0
MODERNA INC	COM	60770K107	2,943	11,589	SH		DFND	NONE	11,589	0	0
MOHAWK INDS INC	COM	608190104	1,438	7,892	SH		DFND	NONE	7,892	0	0
MONDELEZ INTL INC	CL A	609207105	3,004	45,305	SH		DFND	NONE	45,305	0	0
MONSTER BEVERAGE CORP NEW	COM	61174X109	2,472	25,740	SH		DFND	NONE	25,740	0	0
MOODYS CORP	COM	615369105	2,827	7,237	SH		DFND	NONE	7,237	0	0
MORGAN STANLEY	COM NEW	617446448	2,543	25,907	SH		DFND	NONE	25,907	0	0
MOSAIC CO NEW	COM	61945C103	2,098	53,403	SH		DFND	NONE	53,403	0	0
NASDAQ INC	COM	631103108	3,031	14,435	SH		DFND	NONE	14,435	0	0
NETAPP INC	COM	64110D104	2,615	28,424	SH		DFND	NONE	28,424	0	0
NORFOLK SOUTHN CORP	COM	655844108	1,841	6,185	SH		DFND	NONE	6,185	0	0
NORTHROP GRUMMAN CORP	COM	666807102	3,078	7,953	SH		DFND	NONE	7,953	0	0
NUCOR CORP	COM	670346105	3,173	27,799	SH		DFND	NONE	27,799	0	0
OLD DOMINION FREIGHT LINE IN	COM	679580100	2,601	7,259	SH		DFND	NONE	7,259	0	0
OWENS CORNING NEW	COM	690742101	1,234	13,640	SH		DFND	NONE	13,640	0	0
PAYCHEX INC	COM	704326107	4,512	33,052	SH		DFND	NONE	33,052	0	0
PEPSICO INC	COM	713448108	4,819	27,743	SH		DFND	NONE	27,743	0	0
PINNACLE WEST CAP CORP	COM	723484101	1,053	14,922	SH		DFND	NONE	14,922	0	0
POOL CORP	COM	73278L105	2,481	4,383	SH		DFND	NONE	4,383	0	0
PRICE T ROWE GROUP INC	COM	74144T108	2,675	13,606	SH		DFND	NONE	13,606	0	0
PROCTER AND GAMBLE CO	COM	742718109	3,963	24,224	SH		DFND	NONE	24,224	0	0
PROGRESSIVE CORP	COM	743315103	2,282	22,230	SH		DFND	NONE	22,230	0	0
PRUDENTIAL FINL INC	COM	744320102	3,367	31,107	SH		DFND	NONE	31,107	0	0
PUBLIC STORAGE	COM	74460D109	2,937	7,842	SH		DFND	NONE	7,842	0	0
PULTE GROUP INC	COM	745867101	1,872	32,747	SH		DFND	NONE	32,747	0	0
QUALCOMM INC	COM	747525103	3,200	17,500	SH		DFND	NONE	17,500	0	0
QUEST DIAGNOSTICS INC	COM	74834L100	3,025	17,487	SH		DFND	NONE	17,487	0	0
RPM INTL INC	COM	749685103	1,650	16,337	SH		DFND	NONE	16,337	0	0
REGENERON PHARMACEUTICALS	COM	75886F107	2,433	3,852	SH		DFND	NONE	3,852	0	0
REPUBLIC SVCS INC	COM	760759100	3,206	22,993	SH		DFND	NONE	22,993	0	0
ROBERT HALF INTL INC	COM	770323103	1,609	14,428	SH		DFND	NONE	14,428	0	0
ROCKWELL AUTOMATION INC	COM	773903109	1,637	4,692	SH		DFND	NONE	4,692	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	58,416	122,991	SH		DFND	NONE	122,991	0	0
SPDR GOLD TR	GOLD SHS	78463V107	47,353	276,985	SH		DFND	NONE	276,985	0	0
SPDR INDEX SHS FDS	GLB NAT RESRCE	78463X541	61,587	1,141,347	SH		DFND	NONE	1,141,347	0	0
SPDR INDEX SHS FDS	DJ INTL RL ETF	78463X863	88,195	2,477,388	SH		DFND	NONE	2,477,388	0	0
SPDR SERIES TRUST	BLMBRG BRC CNVRT	78464A359	60,208	725,751	SH		DFND	NONE	725,751	0	0
SPDR SERIES TRUST	FTSE INT GVT ETF	78464A490	18,370	341,395	SH		DFND	NONE	341,395	0	0
SPDR SERIES TRUST	BLOMBERG INTL TR	78464A516	52,495	1,856,899	SH		DFND	NONE	1,856,899	0	0
SPDR SER TR	BLOOMBERG SRT TR	78468R408	38,484	1,417,443	SH		DFND	NONE	1,417,443	0	0
SPDR SERIES TRUST	BLOOMBERG BRCLYS	78468R622	80,944	745,547	SH		DFND	NONE	745,547	0	0
SCHWAB STRATEGIC TR	US TIPS ETF	808524870	110,811	1,761,987	SH		DFND	NONE	1,761,987	0	0
SELECT SECTOR SPDR TR	SBI MATERIALS	81369Y100	32,831	362,332	SH		DFND	NONE	362,332	0	0
SELECT SECTOR SPDR TR	SBI HEALTHCARE	81369Y209	33,615	238,589	SH		DFND	NONE	238,589	0	0
SELECT SECTOR SPDR TR	SBI CONS DISCR	81369Y407	88,167	431,259	SH		DFND	NONE	431,259	0	0
SELECT SECTOR SPDR TR	ENERGY	81369Y506	11,674	210,339	SH		DFND	NONE	210,339	0	0
SELECT SECTOR SPDR TR	SBI INT-FINL	81369Y605	46,904	1,201,122	SH		DFND	NONE	1,201,122	0	0
SELECT SECTOR SPDR TR	SBI INT-INDS	81369Y704	66,365	627,207	SH		DFND	NONE	627,207	0	0
SELECT SECTOR SPDR TR	TECHNOLOGY	81369Y803	168,946	971,682	SH		DFND	NONE	971,682	0	0
SELECT SECTOR SPDR TR	COMMUNICATION	81369Y852	43,158	555,592	SH		DFND	NONE	555,592	0	0
SEMPRA ENERGY	COM	816851109	2,245	16,968	SH		DFND	NONE	16,968	0	0
SHERWIN WILLIAMS CO	COM	824348106	3,083	8,755	SH		DFND	NONE	8,755	0	0
SMUCKER J M CO	COM NEW	832696405	1,904	14,020	SH		DFND	NONE	14,020	0	0
SNAP ON INC	COM	833034101	1,432	6,651	SH		DFND	NONE	6,651	0	0
SOUTHERN CO	COM	842587107	2,730	39,807	SH		DFND	NONE	39,807	0	0
STEEL DYNAMICS INC	COM	858119100	1,712	27,574	SH		DFND	NONE	27,574	0	0
SYNCHRONY FINANCIAL	COM	87165B103	2,471	53,265	SH		DFND	NONE	53,265	0	0
TARGET CORP	COM	87612E106	2,368	10,231	SH		DFND	NONE	10,231	0	0
TERADYNE INC	COM	880770102	3,008	18,397	SH		DFND	NONE	18,397	0	0
TESLA INC	COM	88160R101	6,455	6,108	SH		DFND	NONE	6,108	0	0
TEXAS INSTRS INC	COM	882508104	3,441	18,259	SH		DFND	NONE	18,259	0	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	2,211	3,313	SH		DFND	NONE	3,313	0	0
3M CO	COM	88579Y101	3,147	17,716	SH		DFND	NONE	17,716	0	0
TRACTOR SUPPLY CO	COM	892356106	2,042	8,560	SH		DFND	NONE	8,560	0	0
TRAVELERS COMPANIES INC	COM	89417E109	2,749	17,573	SH		DFND	NONE	17,573	0	0
TRIMBLE INC	COM	896239100	2,275	26,095	SH		DFND	NONE	26,095	0	0
TYSON FOODS INC	CL A	902494103	2,550	29,257	SH		DFND	NONE	29,257	0	0
UGI CORP NEW	COM	902681105	1,230	26,794	SH		DFND	NONE	26,794	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	3,706	7,380	SH		DFND	NONE	7,380	0	0
VANECK VECTORS ETF TR	GOLD MINERS ETF	92189F106	86,028	2,685,843	SH		DFND	NONE	2,685,843	0	0
VANECK VECTORS ETF TR	INTL HIGH YIELD	92189F445	3,953	163,788	SH		DFND	NONE	163,788	0	0
VANECK VECTORS ETF TR	AGRIBUSINESS ETF	92189F700	69,622	729,633	SH		DFND	NONE	729,633	0	0
VANECK VECTORS ETF TR	JP MORGAN MKTS	92189H300	83,485	2,919,062	SH		DFND	NONE	2,919,062	0	0
VANGUARD WHITEHALL FDS INC	EMERG MKT BD ETF	921946885	9,977	128,475	SH		DFND	NONE	128,475	0	0
VANGUARD CHARLOTTE FDS	INTL BD IDX ETF	92203J407	44,455	805,924	SH		DFND	NONE	805,924	0	0
VANGUARD INTL EQUITY INDEX F	FTSE SMCAP ETF	922042718	121,698	908,468	SH		DFND	NONE	908,468	0	0
VANGUARD SCOTTSDALE FDS	MORTG-BACK SEC	92206C771	71,796	1,358,744	SH		DFND	NONE	1,358,744	0	0
VANGUARD INDEX FDS	REAL ESTATE ETF	922908553	112,964	973,740	SH		DFND	NONE	973,740	0	0
VANGUARD INDEX FDS	SMALL CP ETF	922908751	98,556	436,071	SH		DFND	NONE	436,071	0	0
VERIZON COMMUNICATIONS INC	COM	92343V104	5,319	102,369	SH		DFND	NONE	102,369	0	0
VIACOMCBS INC	CL B	92556H206	2,484	82,310	SH		DFND	NONE	82,310	0	0
VICI PPTYS INC	COM	925652109	2,152	71,468	SH		DFND	NONE	71,468	0	0
VISA INC	COM CL A	92826C839	2,799	12,918	SH		DFND	NONE	12,918	0	0
VOYA FINANCIAL INC	COM	929089100	1,112	16,770	SH		DFND	NONE	16,770	0	0
WEC ENERGY GROUP INC	COM	92939U106	2,116	21,800	SH		DFND	NONE	21,800	0	0
WALMART INC	COM	931142103	2,418	16,709	SH		DFND	NONE	16,709	0	0
WASTE MGMT INC DEL	COM	94106L109	3,818	22,873	SH		DFND	NONE	22,873	0	0
WEST PHARMACEUTICAL SVSC INC	COM	955306105	3,290	7,015	SH		DFND	NONE	7,015	0	0
WHIRLPOOL CORP	COM	963320106	1,832	7,806	SH		DFND	NONE	7,806	0	0
XCEL ENERGY INC	COM	98389B100	2,100	31,019	SH		DFND	NONE	31,019	0	0
ZEBRA TECHNOLOGIES CORPORATI	CL A	989207105	2,648	4,449	SH		DFND	NONE	4,449	0	0
ZOETIS INC	CL A	98978V103	3,227	13,223	SH		DFND	NONE	13,223	0	0
BECTON DICKINSON & CO	COM	075887109	985	3,915	SH		DFND	NONE	3,915	0	0
BRISTOL-MYERS SQUIBB CO	COM	110122108	62	1,000	SH		DFND	NONE	1,000	0	0
CATERPILLAR INC DEL	COM	149123101	41	200	SH		DFND	NONE	200	0	0
COGNIZANT TECHNOLOGY SOLUTIO	CL A	192446102	712	8,027	SH		DFND	NONE	8,027	0	0
DEERE & CO	COM	244199105	137	400	SH		DFND	NONE	400	0	0
EQUIFAX INC	COM	294429105	557	1,903	SH		DFND	NONE	1,903	0	0
INTUIT	COM	461202103	855	1,329	SH		DFND	NONE	1,329	0	0
ISHARES TR	RUS MDCP VAL ETF	464287473	71	577	SH		DFND	NONE	577	0	0
ISHARES TR	RUS MD CP GR ETF	464287481	88	768	SH		DFND	NONE	768	0	0
ISHARES TR	RUS 2000 VAL ETF	464287630	17	105	SH		DFND	NONE	105	0	0
ISHARES TR	RUS 2000 GRW ETF	464287648	13	46	SH		DFND	NONE	46	0	0
ISHARES TR	EAFE SML CP ETF	464288273	29	392	SH		DFND	NONE	392	0	0
ISHARES TR	NATIONAL MUN ETF	464288414	422	3,631	SH		DFND	NONE	3,631	0	0
ISHARES TR	RUS TP200 VL ETF	464289420	162	2,308	SH		DFND	NONE	2,308	0	0
LILLY ELI & CO	COM	532457108	20	71	SH		DFND	NONE	71	0	0
MCDONALDS CORP	COM	580135101	66	245	SH		DFND	NONE	245	0	0
NIKE INC	CL B	654106103	939	5,634	SH		DFND	NONE	5,634	0	0
OMNICOM GROUP INC	COM	681919106	11	145	SH		DFND	NONE	145	0	0
PARKER-HANNIFIN CORP	COM	701094104	11	36	SH		DFND	NONE	36	0	0
PFIZER INC	COM	717081103	1,067	18,071	SH		DFND	NONE	18,071	0	0
SCHWAB STRATEGIC TR	INTL SCEQT ETF	808524888	38	936	SH		DFND	NONE	936	0	0
STARBUCKS CORP	COM	855244109	672	5,745	SH		DFND	NONE	5,745	0	0
STATE STR CORP	COM	857477103	56	600	SH		DFND	NONE	600	0	0
STRYKER CORPORATION	COM	863667101	1,034	3,867	SH		DFND	NONE	3,867	0	0
TJX COS INC NEW	COM	872540109	435	5,734	SH		DFND	NONE	5,734	0	0
UNILEVER PLC	SPON ADR NEW	904767704	60	1,117	SH		DFND	NONE	1,117	0	0
UNITED PARCEL SERVICE INC	CL B	911312106	539	2,516	SH		DFND	NONE	2,516	0	0
VANGUARD BD INDEX FDS	SHORT TRM BOND	921937827	11	130	SH		DFND	NONE	130	0	0
VANGUARD TAX-MANAGED INTL FD	FTSE DEV MKT ETF	921943858	200	3,912	SH		DFND	NONE	3,912	0	0
VANGUARD INTL EQUITY INDEX F	FTSE EMR MKT ETF	922042858	81	1,643	SH		DFND	NONE	1,643	0	0
VANGUARD INDEX FDS	S&P 500 ETF SHS	922908363	213	487	SH		DFND	NONE	487	0	0
VANGUARD INDEX FDS	MCAP VL IDXVIP	922908512	101	669	SH		DFND	NONE	669	0	0
VANGUARD INDEX FDS	SML CP GRW ETF	922908595	20	71	SH		DFND	NONE	71	0	0
VANGUARD INDEX FDS	SM CP VAL ETF	922908611	28	158	SH		DFND	NONE	158	0	0
RAYTHEON TECHNOLOGIES CORP	COM	75513E101	1	8	SH		DFND	NONE	8	0	0
BROADCOM INC	COM	11135F101	72	108	SH		DFND	NONE	108	0	0
DIAGEO PLC	SPON ADR NEW	25243Q205	84	383	SH		DFND	NONE	383	0	0
GLAXOSMITHKLINE PLC	SPONSORED ADR	37733W105	6	127	SH		DFND	NONE	127	0	0
JPMORGAN CHASE & CO	COM	46625H100	216	1,366	SH		DFND	NONE	1,366	0	0
LEXARIA BIOSCIENCE CORP	COM NEW	52886N406	11	2,686	SH		DFND	NONE	2,686	0	0
ORACLE CORP	COM	68389X105	74	843	SH		DFND	NONE	843	0	0
OVINTIV INC	COM	69047Q102	27	787	SH		DFND	NONE	787	0	0
VANGUARD SCOTTSDALE FDS	VNG RUS1000GRW	92206C680	205	2,610	SH		DFND	NONE	2,610	0	0
VANGUARD SCOTTSDALE FDS	VNG RUS1000VAL	92206C714	11	148	SH		DFND	NONE	148	0	0
VERISK ANALYTICS INC	COM	92345Y106	261	1,139	SH		DFND	NONE	1,139	0	0
LINDE PLC	SHS	G5494J103	17	48	SH		DFND	NONE	48	0	0
MEDTRONIC PLC	SHS	G5960L103	11	105	SH		DFND	NONE	105	0	0
STERIS PLC	SHS USD	G8473T100	26	105	SH		DFND	NONE	105	0	0
SEAGATE TECHNOLOGY HLDNGS PL	ORD SHS	G7997R103	2,691	23,824	SH		DFND	NONE	23,824	0	0