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
APPLE INC COM	COM	037833100	1,345	3,393	SH		SOLE		0	0	3,393
APPLE INC PUT AUG00530000	COM	037833100	93	6	SH	Put	SOLE		0	0	6
AMERICAN ELEC PWR CO INC COM	COM	025537101	393	8,778	SH		SOLE		0	0	8,778
ISHARES TR CORE US AGGBD ET	CORE US AGGBD ET	464287226	487	4,540	SH		SOLE		0	0	4,540
AMKOR TECHNOLOGY INC COM	COM	031652100	48	11,327	SH		SOLE		0	0	11,327
ISHARES TR MODERT ALLOC ETF	MODERT ALLOC ETF	464289875	308	9,500	SH		SOLE		0	0	9,500
ATLANTIC PWR CORP COM NEW	COM	04878Q863	64	16,124	SH		SOLE		0	0	16,124
BANK AMER CORP COM	COM	060505104	178	13,864	SH		SOLE		0	0	13,864
BLACKROCK ENH CAP & INC FD INC COM	COM	09256A109	134	10,631	SH		SOLE		0	0	10,631
CLAYMORE EXCHANGE TRD FD TR GUG MULTI ASSET	GUG MULTI ASSET	18383M506	263	11,325	SH		SOLE		0	0	11,325
CARTER VALIDUS MISSION CRITICA COM	COM	146282108	191	19,104	SH		SOLE		0	0	19,104
SPDR DOW JONES INDL AVRG ETF UT SER 1	UT SER 1	78467X109	2,588	17,421	SH		SOLE		0	0	17,421
ISHARES TR SELECT DIVID ETF	SELECT DIVID ETF	464287168	435	6,798	SH		SOLE		0	0	6,798
EATON CORP PLC SHS	PLC SHS	G29183103	415	6,305	SH		SOLE		0	0	6,305
EATON CORP PLC CALL JAN00052500	PLC SHS	G29183103	15	29	SH	Call	SOLE		0	0	29
EXELON CORP COM	COM	30161N101	282	9,145	SH		SOLE		0	0	9,145
FORD MTR CO DEL COM	COM	345370860	410	26,501	SH		SOLE		0	0	26,501
FORD MOTOR CO CALL DEC00013000	COM	345370860	27	118	SH	Call	SOLE		0	0	118
GENERAL ELECTRIC CO COM	COM	369604103	331	14,270	SH		SOLE		0	0	14,270
GENERAL ELECTRIC CO CALL DEC00024000	COM	369604103	4	46	SH	Call	SOLE		0	0	46
INTERNATIONAL BUSINESS MACHS COM	COM	459200101	223	1,168	SH		SOLE		0	0	1,168
INTERNATIONAL BUS MACH PUT OCT00195000	COM	459200101	5	4	SH	Put	SOLE		0	0	4
EYECITY COM INC COM	COM	30231H100	0	1,000,000	SH		SOLE		0	0	1,000,000
ISHARES TR CORE S&P MCP ETF	CORE S&P MCP ETF	464287507	296	2,561	SH		SOLE		0	0	2,561
ISHARES TR S&P MC 400VL ETF	S&P MC 400VL ETF	464287705	262	2,587	SH		SOLE		0	0	2,587
ISHARES TR S&P MC 400GR ETF	S&P MC 400GR ETF	464287606	252	1,953	SH		SOLE		0	0	1,953
INTEL CORP COM	COM	458140100	457	18,874	SH		SOLE		0	0	18,874
INTEL CORP CALL JAN00025000	COM	458140100	17	96	SH	Call	SOLE		0	0	96
ISHARES TR S&P 500 VAL ETF	S&P 500 VAL ETF	464287408	264	3,485	SH		SOLE		0	0	3,485
ISHARES TR CORE S&P500 ETF	CORE S&P500 ETF	464287200	345	2,147	SH		SOLE		0	0	2,147
ISHARES TR RUS 1000 VAL ETF	RUS 1000 VAL ETF	464287598	261	3,113	SH		SOLE		0	0	3,113
KRAIG BIOCRAFT LABORATORIES IN COM	COM	50075W104	1	23,500	SH		SOLE		0	0	23,500
KINDER MORGAN INC DEL COM	COM	49456B101	232	6,072	SH		SOLE		0	0	6,072
ALTRIA GROUP INC COM	COM	02209S103	239	6,823	SH		SOLE		0	0	6,823
MERCK & CO INC COM	COM	58933Y105	287	6,182	SH		SOLE		0	0	6,182
MERCK & CO INC CALL JAN00049000	COM	58933Y105	2	11	SH	Call	SOLE		0	0	11
MICROSOFT CORP COM	COM	594918104	201	5,812	SH		SOLE		0	0	5,812
MICROSOFT CORP CALL JAN00030000	COM	594918104	4	15	SH	Call	SOLE		0	0	15
ANNALY CAP MGMT INC COM	COM	035710409	158	12,598	SH		SOLE		0	0	12,598
NORTHWEST BIOTHERAPEUTICS INC COM PAR	COM	66737P600	57	16,945	SH		SOLE		0	0	16,945
OCCIDENTAL PETE CORP COM	COM	674599105	285	3,191	SH		SOLE		0	0	3,191
OCCIDENTAL PETE CORP CALL JAN00087500	COM	674599105	14	23	SH	Call	SOLE		0	0	23
PROCTER AND GAMBLE CO COM	COM	742718109	826	10,728	SH		SOLE		0	0	10,728
ING PRIME RATE TR SH BEN INT	SH BEN INT	44977W106	64	10,000	SH		SOLE		0	0	10,000
ROYAL DUTCH SHELL PLC SPONS ADR A	PLC SPONS ADR A	780259206	218	3,410	SH		SOLE		0	0	3,410
SPDR SERIES TRUST S&P DIVID ETF	S&P DIVID ETF	78464A763	339	5,106	SH		SOLE		0	0	5,106
ISHARES TR 1 3 YR TREAS BD	1 3 YR TREAS BD	464287457	297	3,529	SH		SOLE		0	0	3,529
POWERSHARES ETF TR II S&P500 LOW VOL	II S&P500 LOW VOL	73937B779	524	16,849	SH		SOLE		0	0	16,849
AT&T INC COM	COM	00206R102	574	16,220	SH		SOLE		0	0	16,220
AT&T INC PUT SEP00032000	COM	00206R102	8	192	SH	Put	SOLE		0	0	192
ISHARES TR TIPS BD ETF	TIPS BD ETF	464287176	507	4,523	SH		SOLE		0	0	4,523
UNITED HEALTH PRODS INC COM	COM	91059D100	2	10,049	SH		SOLE		0	0	10,049
INVESCO SR INCOME TR COM	COM	46131H107	92	16,987	SH		SOLE		0	0	16,987
VERIZON COMMUNICATIONS INC COM	COM	92343V104	232	4,610	SH		SOLE		0	0	4,610
VERIZON COMM CALL SEP00050000	COM	92343V104	10	76	SH	Call	SOLE		0	0	76
WILLIAMS COS INC DEL COM	COM	969457100	459	14,133	SH		SOLE		0	0	14,133
WILLIAMS COS INC DEL CALL AUG00035000	COM	969457100	6	97	SH	Call	SOLE		0	0	97
SPDR SERIES TRUST S&P HOMEBUILD	S&P HOMEBUILD	78464A888	233	7,930	SH		SOLE		0	0	7,930
SELECT SECTOR SPDR TR SBI INT-UTILS	SBI INT-UTILS	81369Y886	328	8,718	SH		SOLE		0	0	8,718
SECTOR SPDR-UTILITIES CALL JAN00041000	SBI INT-UTILS	81369Y886	1	51	SH	Call	SOLE		0	0	51
EXXON MOBIL CORP COM	COM	30231G102	382	4,226	SH		SOLE		0	0	4,226
EXXON MOBIL CORP CALL JAN00097500	COM	30231G102	1	4	SH	Call	SOLE		0	0	4