Kovack Advisors 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
8X8 INC NEW COM	COM	282914100	179	19,575	SH		SOLE		0	0	19,575
ACCENTURE PLC IRELAND SHS CLASS A	PLC SHS CLASS A	G1151C101	537	6,012	SH		SOLE		0	0	6,012
ACTAVIS PLC SHS	PLC SHS	G0083B108	251	974	SH		SOLE		0	0	974
ALIBABA GROUP HLDG LTD CALL JAN00145000	SPONS ADS	01609W102	2	2	SH	Call	SOLE		0	0	2
ALIBABA GROUP HLDG LTD SPONSORED ADS	SPONS ADS	01609W102	465	4,471	SH		SOLE		0	0	4,471
ALPS ETF TR ALERIAN MLP	ALERIAN MLP	00162Q866	1,722	98,291	SH		SOLE		0	0	98,291
ALTRIA GROUP INC COM	COM	02209S103	403	8,177	SH		SOLE		0	0	8,177
AMER RLTY CAP HEALTHCAR TR INC COM	COM	02917R108	171	14,361	SH		SOLE		0	0	14,361
AMERICAN RLTY CAP PPTY CALL APR00012000	COM	02917T104	6	85	SH	Call	SOLE		0	0	85
AMERICAN RLTY CAP PPTYS INC COM	COM	02917T104	159	17,560	SH		SOLE		0	0	17,560
ANNALY CAP MGMT INC COM	COM	035710409	174	16,109	SH		SOLE		0	0	16,109
APPLE INC CALL JAN00130000	COM	037833100	6	10	SH	Call	SOLE		0	0	10
APPLE INC PUT JAN00100000	COM	037833100	1	52	SH	Put	SOLE		0	0	52
APPLE INC COM	COM	037833100	9,878	89,495	SH		SOLE		0	0	89,495
AT&T INC CALL APR00035000	COM	00206R102	0	6	SH	Call	SOLE		0	0	6
AT&T INC PUT SEP00032000	COM	00206R102	0	2	SH	Put	SOLE		0	0	2
AT&T INC COM	COM	00206R102	959	28,544	SH		SOLE		0	0	28,544
BANK AMER CORP COM	COM	060505104	567	31,685	SH		SOLE		0	0	31,685
BANK OF AMERICA CORP CALL JAN00020000	COM	060505104	0	4	SH	Call	SOLE		0	0	4
BERKSHIRE HATHAWAY INC DEL CL B NEW	DEL CL B	084670702	349	2,324	SH		SOLE		0	0	2,324
BERKSHIRE HATHWAY INC CALL JAN00160000	DEL CL B	084670702	1	1	SH	Call	SOLE		0	0	1
BIOGEN INC COM	COM	09062X103	223	658	SH		SOLE		0	0	658
BLACKROCK DEBT STRAT FD INC COM	COM	09255R103	59	15,913	SH		SOLE		0	0	15,913
BLACKROCK MUNIVEST FD II INC COM	COM	09253T101	192	12,320	SH		SOLE		0	0	12,320
BP PLC CALL JAN00050000	SPONS ADR	055622104	0	1	SH	Call	SOLE		0	0	1
BP PLC PUT JAN00048000	SPONS ADR	055622104	24	25	SH	Put	SOLE		0	0	25
BP PLC SPONSORED ADR	SPONS ADR	055622104	685	17,967	SH		SOLE		0	0	17,967
BRISTOL MYERS SQUIBB CO COM	COM	110122108	340	5,763	SH		SOLE		0	0	5,763
BRISTOL-MYERS SQUIBB CALL JAN00052500	COM	110122108	2	3	SH	Call	SOLE		0	0	3
BROCADE COMMUNICATIONS SYS INC COM NEW	COM	111621306	181	15,287	SH		SOLE		0	0	15,287
BUSINESS DEV CORP OF AMER COM	COM	12325J101	386	36,117	SH		SOLE		0	0	36,117
CALAMOS CONV OPP AND INC FD SH BEN INT	SH BEN INT	128117108	130	10,124	SH		SOLE		0	0	10,124
CELGENE CORP CALL JAN00130000	COM	151020104	2	3	SH	Call	SOLE		0	0	3
CELGENE CORP COM	COM	151020104	629	5,626	SH		SOLE		0	0	5,626
CHEVRON CORP NEW CALL JAN00140000	COM	166764100	0	2	SH	Call	SOLE		0	0	2
CHEVRON CORP NEW COM	COM	166764100	261	2,330	SH		SOLE		0	0	2,330
CHIMERA INVT CORP COM	COM	16934Q109	40	12,612	SH		SOLE		0	0	12,612
CISCO SYS INC COM	COM	17275R102	342	12,309	SH		SOLE		0	0	12,309
CISCO SYSTEMS INC CALL APR00024000	COM	17275R102	4	10	SH	Call	SOLE		0	0	10
CLAYMORE EXCHANGE TRD FD TR GUG BLT2018 HY	TR GUG BLT2018 HY	18383M381	519	20,203	SH		SOLE		0	0	20,203
COCA COLA CO COM	COM	191216100	267	6,333	SH		SOLE		0	0	6,333
COCA-COLA COMPANY CALL FEB00047000	COM	191216100	3	29	SH	Call	SOLE		0	0	29
CONOCOPHILLIPS COM	COM	20825C104	361	5,234	SH		SOLE		0	0	5,234
CVS CAREMARK CORP CALL JAN00085000	COM	126650100	2	1	SH	Call	SOLE		0	0	1
CVS HEALTH CORP COM	COM	126650100	275	2,853	SH		SOLE		0	0	2,853
DISNEY WALT CO COM DISNEY	COM	254687106	386	4,100	SH		SOLE		0	0	4,100
DISNEY WALT COMPANY CALL JAN00100000	COM	254687106	10	9	SH	Call	SOLE		0	0	9
DOW CHEM CO COM	COM	260543103	361	7,922	SH		SOLE		0	0	7,922
DOW CHEMICAL COMPANY CALL JAN00052500	COM	260543103	1	22	SH	Call	SOLE		0	0	22
DU PONT E I DE NEMOURS & CO COM	COM	263534109	211	2,849	SH		SOLE		0	0	2,849
EATON CORP PLC CALL APR00062500	PLC SHS	G29183103	2	6	SH	Call	SOLE		0	0	6
EATON CORP PLC SHS	PLC SHS	G29183103	430	6,332	SH		SOLE		0	0	6,332
EATON VANCE LTD DUR INCOME FD COM	COM	27828H105	226	16,037	SH		SOLE		0	0	16,037
ENTERPRISE PRODS PARTNERS L P COM	COM	293792107	267	7,393	SH		SOLE		0	0	7,393
EXPRESS SCRIPTS HLDG CO COM	COM	30219G108	253	2,985	SH		SOLE		0	0	2,985
EXXON MOBIL CORP COM	COM	30231G102	1,026	11,093	SH		SOLE		0	0	11,093
FACEBOOK INC CALL JAN00105000	CL A	30303M102	0	19	SH	Call	SOLE		0	0	19
FACEBOOK INC CL A	CL A	30303M102	576	7,381	SH		SOLE		0	0	7,381
FIRST TR EXCHANGE TRADED FD II CONSUMR STAPLE	II CONSUMR STAPLE	33734X119	383	8,993	SH		SOLE		0	0	8,993
FIRST TR EXCHANGE TRADED FD VI DORSEY WRT 5 ETF	VI DORSEY WRT 5 ETF	33738R605	704	31,975	SH		SOLE		0	0	31,975
FIRST TR LRGE CP CORE ALPHA FD COM SHS	COM SHS	33734K109	839	18,380	SH		SOLE		0	0	18,380
FIRST TR VALUE LINE DIVID INDX SHS	DIVID INDX SHS	33734H106	879	36,385	SH		SOLE		0	0	36,385
FORD MOTOR CO CALL MAR00015000	COM	345370860	0	2	SH	Call	SOLE		0	0	2
FORD MTR CO DEL COM PAR $0.01	COM	345370860	459	29,604	SH		SOLE		0	0	29,604
FOREST LABS INC COM	COM	345838106	250	2,522	SH		SOLE		0	0	2,522
FS INVT CORP COM	COM	302635107	133	13,391	SH		SOLE		0	0	13,391
GENERAL DYNAMICS CORP COM	COM	369550108	252	1,829	SH		SOLE		0	0	1,829
GENERAL ELECTRIC CO CALL JAN00026000	COM	369604103	1	11	SH	Call	SOLE		0	0	11
GENERAL ELECTRIC CO COM	COM	369604103	814	32,225	SH		SOLE		0	0	32,225
GILEAD SCIENCES INC CALL FEB00100000	COM	375558103	27	23	SH	Call	SOLE		0	0	23
GILEAD SCIENCES INC COM	COM	375558103	754	8,004	SH		SOLE		0	0	8,004
GOLDEN PHOENIX MINERALS INC COM	COM	381149103	0	36,000	SH		SOLE		0	0	36,000
GOOGLE INC PUT FEB00560000	CL A	38259P706	48	11	SH	Put	SOLE		0	0	11
GOOGLE INC CL A	CL A	38259P508	329	620	SH		SOLE		0	0	620
GOOGLE INC CL C	CL C	38259P706	208	395	SH		SOLE		0	0	395
HEWLETT PACKARD CO COM	COM	428236103	452	11,251	SH		SOLE		0	0	11,251
HOME DEPOT INC COM	COM	437076102	259	2,470	SH		SOLE		0	0	2,470
INTEL CORP COM	COM	458140100	751	20,706	SH		SOLE		0	0	20,706
INTERNATIONAL BUSINESS MACHS COM	COM	459200101	303	1,887	SH		SOLE		0	0	1,887
INTUIT COM	COM	461202103	227	2,464	SH		SOLE		0	0	2,464
INVESCO SR INCOME TR COM	COM	46131H107	71	15,487	SH		SOLE		0	0	15,487
ISHARES TR CORE S&P500 ETF	CORE S&P500 ETF	464287200	921	4,454	SH		SOLE		0	0	4,454
ISHARES TR CORE US AGGBD ET	CORE US AGGBD ET	464287226	661	6,002	SH		SOLE		0	0	6,002
ISHARES TR GLOB HLTHCRE ETF	GLOB HLTHCRE ETF	464287325	431	4,331	SH		SOLE		0	0	4,331
ISHARES TR IBOXX HI YD ETF	IBOXX HI YD ETF	464288513	407	4,544	SH		SOLE		0	0	4,544
ISHARES TR IBOXX INV CP ETF	IBOXX INV CP ETF	464287242	257	2,154	SH		SOLE		0	0	2,154
ISHARES TR MIN VOL USA ETF	MIN VOL USA ETF	46429B697	618	15,279	SH		SOLE		0	0	15,279
ISHARES TR RUS MDCP VAL ETF	RUS MDCP VAL ETF	464287473	930	12,604	SH		SOLE		0	0	12,604
ISHARES TR S&P 100 ETF	S&P 100 ETF	464287101	635	6,978	SH		SOLE		0	0	6,978
ISHARES TR S&P 500 GRWT ETF	S&P 500 GRWT ETF	464287309	283	2,535	SH		SOLE		0	0	2,535
ISHARES TR S&P 500 VAL ETF	S&P 500 VAL ETF	464287408	292	3,113	SH		SOLE		0	0	3,113
ISHARES TR S&P US PFD STK	S&P US PFD STK	464288687	301	7,624	SH		SOLE		0	0	7,624
ISHARES TR SELECT DIVID ETF	SELECT DIVID ETF	464287168	490	6,174	SH		SOLE		0	0	6,174
ISHARES TR SH TR CRPORT ETF	SH TR CRPORT ETF	464288646	2,636	25,057	SH		SOLE		0	0	25,057
ISHARES TR U.S. FINLS ETF	U.S. FINLS ETF	464287788	1,655	18,346	SH		SOLE		0	0	18,346
JAZZ PHARMACEUTICALS PLC SHS USD	PLC SHS USD	G50871105	215	1,314	SH		SOLE		0	0	1,314
JOHNSON & JOHNSON COM	COM	478160104	780	7,458	SH		SOLE		0	0	7,458
KEURIG GREEN MTN INC COM	COM	49271M100	252	1,906	SH		SOLE		0	0	1,906
KINDER MORGAN INC DEL COM	COM	49456B101	317	7,491	SH		SOLE		0	0	7,491
KRAIG BIOCRAFT LABORATORIES IN COM	COM	50075W104	1	23,500	SH		SOLE		0	0	23,500
LIGHTSTONE VALUE PLUS REIT II COM	COM	53227H108	0	14,207	SH		SOLE		0	0	14,207
LORILLARD INC COM	COM	544147101	239	3,804	SH		SOLE		0	0	3,804
MCDONALDS CORP COM	COM	580135101	222	2,365	SH		SOLE		0	0	2,365
MEETME INC COM	COM	585141104	27	17,600	SH		SOLE		0	0	17,600
MERCK & CO INC COM	COM	58933Y105	204	3,588	SH		SOLE		0	0	3,588
MFA FINL INC COM	COM	55272X102	81	10,200	SH		SOLE		0	0	10,200
MICROSOFT CORP CALL JAN00055000	COM	594918104	0	1	SH	Call	SOLE		0	0	1
MICROSOFT CORP COM	COM	594918104	355	7,653	SH		SOLE		0	0	7,653
NEW YORK REIT INC COM	COM	64976L109	341	32,241	SH		SOLE		0	0	32,241
O REILLY AUTOMOTIVE INC NEW COM	COM	67103H107	240	1,247	SH		SOLE		0	0	1,247
OLD REP INTL CORP COM	COM	680223104	485	33,124	SH		SOLE		0	0	33,124
OMEGA HEALTHCARE INVS INC COM	COM	681936100	788	20,165	SH		SOLE		0	0	20,165
ON TRACK INNOVATION LTD SHS	LTD SHS	M8791A109	49	29,620	SH		SOLE		0	0	29,620
ORACLE CORP CALL MAR00039000	COM	68389X105	3	5	SH	Call	SOLE		0	0	5
ORACLE CORP COM	COM	68389X105	341	7,588	SH		SOLE		0	0	7,588
PEPSICO INC COM	COM	713448108	409	4,328	SH		SOLE		0	0	4,328
PETSMART INC COM	COM	716768106	276	3,397	SH		SOLE		0	0	3,397
PIMCO ETF TR 0-5 HIGH YIELD	0-5 HIGH YIELD	72201R783	1,459	14,467	SH		SOLE		0	0	14,467
PLUM CREEK TIMBER CO INC COM	COM	729251108	294	6,872	SH		SOLE		0	0	6,872
POLYONE CORP COM	COM	73179P106	202	5,326	SH		SOLE		0	0	5,326
POWERSHARES ETF TR II S&P500 LOW VOL	II S&P500 LOW VOL	73937B779	413	10,875	SH		SOLE		0	0	10,875
POWERSHARES ETF TRUST DWA MOMENTUM PTF	DWA MOMENTUM PTF	73935X153	239	5,825	SH		SOLE		0	0	5,825
POWERSHARES ETF TRUST S&P 500 QLTY PRT	S&P 500 QLTY PRT	73935X682	535	23,000	SH		SOLE		0	0	23,000
POWERSHARES QQQ TRUST PUT DEC00095000	UNIT SER 1	73935A104	0	0	SH		SOLE		0	0	0
POWERSHARES QQQ TRUST UNIT SER 1	UNIT SER 1	73935A104	425	4,113	SH		SOLE		0	0	4,113
PROCTER & GAMBLE CO CALL JAN00095000	COM	742718109	0	2	SH	Call	SOLE		0	0	2
PROCTER AND GAMBLE CO COM	COM	742718109	1,299	14,260	SH		SOLE		0	0	14,260
PROSHARES TR PSHS ULT S&P 500	PSHS ULT S&P 500	74347R107	352	2,745	SH		SOLE		0	0	2,745
REYNOLDS AMERICAN INC COM	COM	761713106	386	6,013	SH		SOLE		0	0	6,013
RF MICRODEVICES INC CALL JAN00007000	COM	749941100	0	0	SH	Call	SOLE		0	0	0
RF MICRODEVICES INC COM	COM	749941100	304	18,298	SH		SOLE		0	0	18,298
RITE AID CORP COM	COM	767754104	212	28,155	SH		SOLE		0	0	28,155
ROYAL DUTCH SHELL PLC SPONS ADR A	PLC SPONS ADR A	780259206	278	4,155	SH		SOLE		0	0	4,155
RYDEX ETF TRUST GUG S&P MC400 PG	S&P MC400 PG	78355W601	300	2,466	SH		SOLE		0	0	2,466
RYDEX ETF TRUST GUG S&P SC600 PV	GUG S&P SC600 PV	78355W700	326	5,128	SH		SOLE		0	0	5,128
RYDEX ETF TRUST GUG S&P500 EQ WT	S&P500 EQ WT	78355W106	3,167	39,563	SH		SOLE		0	0	39,563
RYDEX ETF TRUST GUG S&P500 PU GR	S&P500 PU GR	78355W403	259	3,263	SH		SOLE		0	0	3,263
RYDEX ETF TRUST GUG S&P500 PU VA	S&P500 PU VA	78355W304	340	6,183	SH		SOLE		0	0	6,183
SEAGATE TECHNOLOGY PLC SHS	PLC SHS	G7945M107	201	3,017	SH		SOLE		0	0	3,017
SELECT SECTOR SPDR TR SBI CONS DISCR	SBI CONS DISCR	81369Y407	480	6,654	SH		SOLE		0	0	6,654
SELECT SECTOR SPDR TR SBI CONS STPLS	SBI CONS STPLS	81369Y308	1,477	30,461	SH		SOLE		0	0	30,461
SELECT SECTOR SPDR TR SBI HEALTHCARE	SBI HEALTHCARE	81369Y209	506	7,405	SH		SOLE		0	0	7,405
SELECT SECTOR SPDR TR SBI INT-FINL	SBI INT-FINL	81369Y605	346	13,977	SH		SOLE		0	0	13,977
SELECT SECTOR SPDR TR TECHNOLOGY	TECHNOLOGY	81369Y803	364	8,811	SH		SOLE		0	0	8,811
SHERWIN WILLIAMS CO COM	COM	824348106	881	3,349	SH		SOLE		0	0	3,349
SKYWORKS SOLUTIONS INC CALL JAN00100000	COM	83088M102	1	1	SH	Call	SOLE		0	0	1
SKYWORKS SOLUTIONS INC COM	COM	83088M102	289	3,971	SH		SOLE		0	0	3,971
SOLARCITY CORP COM	COM	83416T100	219	4,098	SH		SOLE		0	0	4,098
SPDR DOW JONES INDL AVRG ETF UT SER 1	UT SER 1	78467X109	350	1,968	SH		SOLE		0	0	1,968
SPDR GOLD TRUST GOLD SHS	GOLD SHS	78463V107	219	1,925	SH		SOLE		0	0	1,925
SPDR S&P 500 ETF TR TR UNIT	S&P 500 ETF TR TR UNIT	78462F103	9,334	45,414	SH		SOLE		0	0	45,414
SPDR SER TR BLOOMBERG SRT TR	SER TR BLOOMBERG SRT TR	78468R408	573	19,810	SH		SOLE		0	0	19,810
SPDR SERIES TRUST BLMBRG BRC CNVRT	SERIES TRUST BLMBRG BRC CNVRT	78464A359	574	12,233	SH		SOLE		0	0	12,233
SPDR SERIES TRUST BLOOMBERG BRCLYS	SERIES TRUST BLOOMBERG BRCLYS	78464A417	204	5,287	SH		SOLE		0	0	5,287
SPDR SERIES TRUST S&P DIVID ETF	SERIES TRUST S&P DIVID ETF	78464A763	2,403	30,499	SH		SOLE		0	0	30,499
SUNTRUST BKS INC COM	COM	867914103	325	7,764	SH		SOLE		0	0	7,764
TIME WARNER INC COM NEW	COM	887317303	763	8,932	SH		SOLE		0	0	8,932
TWITTER INC COM	COM	90184L102	4,324	120,543	SH		SOLE		0	0	120,543
UNDER ARMOR INC CALL JAN00047500	CL A	904311107	39	26	SH	Call	SOLE		0	0	26
UNDER ARMOUR INC CL A	CL A	904311107	353	5,200	SH		SOLE		0	0	5,200
UNION PAC CORP COM	COM	907818108	221	1,853	SH		SOLE		0	0	1,853
UNITED DEV FDG IV COM	COM	910187103	700	38,153	SH		SOLE		0	0	38,153
UNITED HEALTH PRODS INC COM	COM	91059D100	1	10,049	SH		SOLE		0	0	10,049
URANERZ ENERGY CORP COM	COM	91688T104	21	18,444	SH		SOLE		0	0	18,444
URANIUM RES INC COM PAR$0.001NEW	COM PAR$0.001NEW	916901606	20	10,683	SH		SOLE		0	0	10,683
USA TECHNOLOGIES INC COM NO PAR	COM NO PAR	90328S500	45	28,000	SH		SOLE		0	0	28,000
VANGUARD BD INDEX FD INC INTERMED TERM	BD INDEX FD INC INTERMED TERM	921937819	241	2,845	SH		SOLE		0	0	2,845
VANGUARD BD INDEX FD INC SHORT TRM BOND	BD INDEX FD INC SHORT TRM BOND	921937827	810	10,137	SH		SOLE		0	0	10,137
VANGUARD GROUP DIV APP ETF	DIV APP ETF	921908844	3,110	38,325	SH		SOLE		0	0	38,325
VANGUARD INDEX FDS GROWTH ETF	INDEX FDS GROWTH ETF	922908736	228	2,183	SH		SOLE		0	0	2,183
VANGUARD INDEX FDS SM CP VAL ETF	INDEX FDS SM CP VAL ETF	922908611	228	2,159	SH		SOLE		0	0	2,159
VANGUARD INDEX FDS TOTAL STK MKT	INDEX FDS TOTAL STK MKT	922908769	1,968	18,566	SH		SOLE		0	0	18,566
VANGUARD INTL EQUITY INDEX FD FTSE EMR MKT ETF	INTL EQUITY INDEX FD FTSE EMR MKT ETF	922042858	203	5,083	SH		SOLE		0	0	5,083
VERIZON COMMUNICATIONS INC COM	COM	92343V104	702	15,013	SH		SOLE		0	0	15,013
VISA INC COM CL A	CL A	92826C839	228	871	SH		SOLE		0	0	871
VODAFONE GROUP PLC NEW CALL OCT00038000	SPONS ADR	92857W308	0	1	SH	Call	SOLE		0	0	1
VODAFONE GROUP PLC NEW SPONSORED ADR	SPONS ADR	92857W308	265	7,759	SH		SOLE		0	0	7,759
VOYA PRIME RATE TR SH BEN INT	SH BEN INT	92913A100	53	10,000	SH		SOLE		0	0	10,000
WALMART INC COM	COM	931142103	659	7,675	SH		SOLE		0	0	7,675
WAL-MART STORES INC CALL JAN00082500	COM	931142103	0	1	SH	Call	SOLE		0	0	1
WELLS FARGO CO NEW COM	COM	949746101	280	5,104	SH		SOLE		0	0	5,104
WILLIAMS COS INC DEL CALL MAY00062500	COM	969457100	0	4	SH	Call	SOLE		0	0	4
WILLIAMS COS INC DEL COM	COM	969457100	304	6,764	SH		SOLE		0	0	6,764
WISDOMTREE TR AUSTRALIA DIV FD	AUSTRALIA DIV FD	97717W810	266	5,114	SH		SOLE		0	0	5,114
WISDOMTREE TR EUROPE HEDGED EQ	EUROPE HEDGED EQ	97717X701	1,622	29,164	SH		SOLE		0	0	29,164
WISDOMTREE TR US LARGECAP DIVD	US LARGECAP DIVD	97717W307	875	11,797	SH		SOLE		0	0	11,797