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
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
AMIRA NATURE FOODS LTD SHS G0335L102 36 4,815 SH   DFND 1,2 4,815 0 0
BUNGE LIMITED COM G16962105 622 10,513 SH   DFND 1,2 10,513 0 0
FRESH DEL MONTE PRODUCE INC ORD G36738105 210 3,862 SH   DFND 1,2 3,862 0 0
KOSMOS ENERGY LTD SHS G5315B107 33 6,120 SH   DFND 1,2 6,120 0 0
NOBLE CORP PLC SHS USD G65431101 78 9,463 SH   DFND 1,2 9,463 0 0
OCEAN RIG UDW INC SHS G66964100 7 2,900 SH   DFND 1,2 2,900 0 0
ROWAN COMPANIES PLC SHS CL A G7665A101 86 4,856 SH   DFND 1,2 4,856 0 0
SEADRILL LIMITED SHS G7945E105 48 14,900 SH   DFND 1,2 14,900 0 0
PENTAIR PLC SHS G7S00T104 1,760 30,196 SH   DFND 1,2 30,196 0 0
ADECOAGRO S A COM L00849106 330 30,106 SH   DFND 1,2 30,106 0 0
AGL RES INC COM 001204106 4,822 73,091 SH   DFND 1,2 73,091 0 0
AG MTG INVT TR INC COM 001228105 325 22,485 SH   DFND 1,2 22,485 0 0
ACADIA RLTY TR COM SH BEN INT 004239109 2,044 57,543 SH   DFND 1,2 57,543 0 0
ALCOA INC COM 013817101 516 55,630 SH   DFND 1,2 55,630 0 0
ALERE INC COM 01449J105 3,915 93,935 SH   DFND 1,2 93,935 0 0
ALON USA ENERGY INC COM 020520102 8 1,235 SH   DFND 1,2 1,235 0 0
ALON USA PARTNERS LP UT LTDPART INT 02052T109 5 450 SH   DFND 1,2 450 0 0
ALTISOURCE RESIDENTIAL CORP CL B 02153W100 373 40,628 SH   DFND 1,2 40,628 0 0
AMERICAN CAP MTG INVT CORP COM 02504A104 576 36,484 SH   DFND 1,2 36,484 0 0
AMERICAN VANGUARD CORP COM 030371108 121 7,996 SH   DFND 1,2 7,996 0 0
AMERICAN WTR WKS CO INC NEW COM 030420103 2,546 30,129 SH   DFND 1,2 30,129 0 0
ANADARKO PETE CORP COM 032511107 36 680 SH   DFND 1,2 680 0 0
ANWORTH MORTGAGE ASSET CP COM 037347101 360 76,583 SH   DFND 1,2 76,583 0 0
APACHE CORP COM 037411105 28 496 SH   DFND 1,2 496 0 0
APOLLO ED GROUP INC CL A 037604105 832 91,198 SH   DFND 1,2 91,198 0 0
APOLLO COML REAL EST FIN INC COM 03762U105 753 46,878 SH   DFND 1,2 46,878 0 0
APOLLO RESIDENTIAL MTG INC COM 03763V102 341 25,447 SH   DFND 1,2 25,447 0 0
AQUA AMERICA INC COM 03836W103 1,090 30,571 SH   DFND 1,2 30,571 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 1,898 44,258 SH   DFND 1,2 44,258 0 0
ARES COML REAL ESTATE CORP COM 04013V108 255 20,753 SH   DFND 1,2 20,753 0 0
ARMOUR RESIDENTIAL REIT INC COM NEW 042315507 587 29,340 SH   DFND 1,2 29,340 0 0
ASHFORD HOSPITALITY TR INC COM SHS 044103109 352 65,568 SH   DFND 1,2 65,568 0 0
BARCLAYS BK PLC DJUBS CMDT ETN36 06738C778 31 1,253 SH   DFND 1,2 1,253 0 0
BARCLAYS BK PLC IPATH S&P500 VIX 06742E711 13,654 989,466 SH   DFND 1,2 989,466 0 0
BONANZA CREEK ENERGY INC COM 097793103 3 1,641 SH   DFND 1,2 1,641 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 2,347 139,690 SH   DFND 1,2 139,690 0 0
CVR ENERGY INC COM 12662P108 10 617 SH   DFND 1,2 617 0 0
CVR PARTNERS LP COM 126633106 157 19,241 SH   DFND 1,2 19,241 0 0
CVR REFNG LP COMUNIT REP LT 12663P107 43 5,563 SH   DFND 1,2 5,563 0 0
CAL MAINE FOODS INC COM NEW 128030202 360 8,112 SH   DFND 1,2 8,112 0 0
CALIFORNIA RES CORP COM NEW 13057Q206 18 1,498 SH   DFND 1,2 1,498 0 0
CAPSTEAD MTG CORP COM NO PAR 14067E506 742 76,461 SH   DFND 1,2 76,461 0 0
CARETRUST REIT INC COM 14174T107 635 46,073 SH   DFND 1,2 46,073 0 0
CARMIKE CINEMAS INC COM 143436400 656 21,783 SH   DFND 1,2 21,783 0 0
CASH AMER INTL INC COM 14754D100 768 18,013 SH   DFND 1,2 18,013 0 0
CEDAR REALTY TRUST INC COM NEW 150602209 491 66,054 SH   DFND 1,2 66,054 0 0
CELATOR PHARMACEUTICALS INC COM 15089R102 1,170 38,780 SH   DFND 1,2 38,780 0 0
CHESAPEAKE LODGING TR SH BEN INT 165240102 1,106 47,568 SH   DFND 1,2 47,568 0 0
CHEVRON CORP NEW COM 166764100 261 2,493 SH   DFND 1,2 2,493 0 0
COBALT INTL ENERGY INC COM 19075F106 19 14,289 SH   DFND 1,2 14,289 0 0
COLONY CAP INC CL A 19624R106 1,360 88,588 SH   DFND 1,2 88,588 0 0
COLUMBIA PIPELINE GROUP INC COM 198280109 15,412 604,635 SH   DFND 1,2 604,635 0 0
CONAGRA FOODS INC COM 205887102 1,535 32,100 SH   DFND 1,2 32,100 0 0
CONOCOPHILLIPS COM 20825C104 70 1,609 SH   DFND 1,2 1,609 0 0
CONSOL ENERGY INC COM 20854P109 697 43,318 SH   DFND 1,2 43,318 0 0
COUSINS PPTYS INC COM 222795106 1,739 167,208 SH   DFND 1,2 167,208 0 0
CURRENCYSHARES EURO TR EURO SHS 23130C108 19,647 181,627 SH   DFND 1,2 181,627 0 0
CVENT INC COM 23247G109 2,734 76,531 SH   DFND 1,2 76,531 0 0
DELEK US HLDGS INC COM 246647101 29 2,161 SH   DFND 1,2 2,161 0 0
DENBURY RES INC COM NEW 247916208 49 13,641 SH   DFND 1,2 13,641 0 0
DIAMOND OFFSHORE DRILLING IN COM 25271C102 61 2,514 SH   DFND 1,2 2,514 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 1,448 160,358 SH   DFND 1,2 160,358 0 0
DOMTAR CORP COM NEW 257559203 88 2,509 SH   DFND 1,2 2,509 0 0
DREAMWORKS ANIMATION SKG INC CL A 26153C103 2,154 52,692 SH   DFND 1,2 52,692 0 0
DU PONT E I DE NEMOURS & CO COM 263534109 11,617 179,267 SH   DFND 1,2 179,267 0 0
DYNEX CAP INC COM NEW 26817Q506 253 36,391 SH   DFND 1,2 36,391 0 0
EOG RES INC COM 26875P101 63 758 SH   DFND 1,2 758 0 0
EP ENERGY CORP CL A 268785102 8 1,498 SH   DFND 1,2 1,498 0 0
EDUCATION RLTY TR INC COM NEW 28140H203 2,456 53,230 SH   DFND 1,2 53,230 0 0
EMPIRE DIST ELEC CO COM 291641108 604 17,789 SH   DFND 1,2 17,789 0 0
EMPIRE ST RLTY TR INC CL A 292104106 1,858 97,818 SH   DFND 1,2 97,818 0 0
EXAMWORKS GROUP INC COM 30066A105 1,325 38,015 SH   DFND 1,2 38,015 0 0
EXXON MOBIL CORP COM 30231G102 522 5,564 SH   DFND 1,2 5,564 0 0
FEI CO COM 30241L109 580 5,423 SH   DFND 1,2 5,423 0 0
FAIRCHILD SEMICONDUCTOR INTL COM 303726103 953 48,019 SH   DFND 1,2 48,019 0 0
FAIRMOUNT SANTROL HLDGS INC COM 30555Q108 23 3,008 SH   DFND 1,2 3,008 0 0
FELCOR LODGING TR INC COM 31430F101 651 104,469 SH   DFND 1,2 104,469 0 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 2,587 92,986 SH   DFND 1,2 92,986 0 0
FIRST NIAGARA FINL GP INC COM 33582V108 1,214 124,653 SH   DFND 1,2 124,653 0 0
FIRST POTOMAC RLTY TR COM 33610F109 422 45,899 SH   DFND 1,2 45,899 0 0
FIRSTMERIT CORP COM 337915102 3,467 171,055 SH   DFND 1,2 171,055 0 0
FLOWSERVE CORP COM 34354P105 991 21,944 SH   DFND 1,2 21,944 0 0
FOUR CORNERS PPTY TR INC COM 35086T109 999 48,501 SH   DFND 1,2 48,501 0 0
FRANKLIN STREET PPTYS CORP COM 35471R106 958 78,107 SH   DFND 1,2 78,107 0 0
FREEPORT-MCMORAN INC CL B 35671D857 570 51,192 SH   DFND 1,2 51,192 0 0
GENERAL MLS INC COM 370334104 3,127 43,840 SH   DFND 1,2 43,840 0 0
GLOBAL NET LEASE INC COM 379378102 1,087 136,699 SH   DFND 1,2 136,699 0 0
GOVERNMENT PPTYS INCOME TR COM SHS BEN INT 38376A103 1,302 56,446 SH   DFND 1,2 56,446 0 0
GULFPORT ENERGY CORP COM NEW 402635304 153 4,901 SH   DFND 1,2 4,901 0 0
HAIN CELESTIAL GROUP INC COM 405217100 384 7,722 SH   DFND 1,2 7,722 0 0
HALLIBURTON CO COM 406216101 50 1,114 SH   DFND 1,2 1,114 0 0
HATTERAS FINL CORP COM 41902R103 2,091 127,455 SH   DFND 1,2 127,455 0 0
HECLA MNG CO COM 422704106 73 14,345 SH   DFND 1,2 14,345 0 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 593 34,559 SH   DFND 1,2 34,559 0 0
HORMEL FOODS CORP COM 440452100 1,729 47,227 SH   DFND 1,2 47,227 0 0
HUDSON PAC PPTYS INC COM 444097109 2,046 70,103 SH   DFND 1,2 70,103 0 0
IMS HEALTH HLDGS INC COM 44970B109 553 21,810 SH   DFND 1,2 21,810 0 0
ISTAR INC COM 45031U101 559 58,279 SH   DFND 1,2 58,279 0 0
IDEX CORP COM 45167R104 1,068 13,009 SH   DFND 1,2 13,009 0 0
IHS INC CL A 451734107 1,107 9,577 SH   DFND 1,2 9,577 0 0
INCONTACT INC COM 45336E109 944 68,139 SH   DFND 1,2 68,139 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 264 32,266 SH   DFND 1,2 32,266 0 0
INFRAREIT INC COM 45685L100 445 25,375 SH   DFND 1,2 25,375 0 0
INGRAM MICRO INC CL A 457153104 2,725 78,348 SH   DFND 1,2 78,348 0 0
INGREDION INC COM 457187102 690 5,331 SH   DFND 1,2 5,331 0 0
INTEGRATED DEVICE TECHNOLOGY COM 458118106 3,410 169,401 SH   DFND 1,2 169,401 0 0
INTEROIL CORP COM 460951106 550 12,212 SH   DFND 1,2 12,212 0 0
INVESCO MORTGAGE CAPITAL INC COM 46131B100 1,234 90,109 SH   DFND 1,2 90,109 0 0
INVESTORS REAL ESTATE TR SH BEN INT 461730103 625 96,632 SH   DFND 1,2 96,632 0 0
ISHARES MSCI BRZ CAP ETF 464286400 2,415 80,161 SH   DFND 1,2 80,161 0 0
ISHARES MSCI EURZONE ETF 464286608 15,052 466,441 SH   DFND 1,2 466,441 0 0
ISHARES MSCI JAPAN ETF 464286848 19,815 1,723,007 SH   DFND 1,2 1,723,007 0 0
ISHARES TR TIPS BD ETF 464287176 42,252 362,136 SH   DFND 1,2 362,136 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 496 14,479 SH   DFND 1,2 14,479 0 0
ISHARES TR CORE S&P500 ETF 464287200 5 24 SH   DFND 1,2 24 0 0
ISHARES TR CORE US AGGBD ET 464287226 78,565 697,923 SH   DFND 1,2 697,923 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 187 5,459 SH   DFND 1,2 5,459 0 0
ISHARES TR IBOXX INV CP ETF 464287242 304,445 2,480,610 SH   DFND 1,2 2,480,610 0 0
ISHARES TR S&P 500 GRWT ETF 464287309 5,662 48,574 SH   DFND 1,2 48,574 0 0
ISHARES TR S&P 500 VAL ETF 464287408 13,564 146,011 SH   DFND 1,2 146,011 0 0
ISHARES TR 7-10 Y TR BD ETF 464287440 2,551 22,581 SH   DFND 1,2 22,581 0 0
ISHARES TR 1-3 YR TR BD ETF 464287457 41,655 488,214 SH   DFND 1,2 488,214 0 0
ISHARES TR MSCI EAFE ETF 464287465 37,442 670,882 SH   DFND 1,2 670,882 0 0
ISHARES TR RUS 1000 VAL ETF 464287598 37,616 364,293 SH   DFND 1,2 364,293 0 0
ISHARES TR RUS 1000 GRW ETF 464287614 12,428 123,847 SH   DFND 1,2 123,847 0 0
ISHARES TR RUS 2000 GRW ETF 464287648 39,076 284,852 SH   DFND 1,2 284,852 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 693 6,040 SH   DFND 1,2 6,040 0 0
ISHARES TR U.S. REAL ES ETF 464287739 88 1,075 SH   DFND 1,2 1,075 0 0
ISHARES TR EUROPE ETF 464287861 3,813 100,896 SH   DFND 1,2 100,896 0 0
ISHARES TR SP SMCP600GR ETF 464287887 20,844 162,329 SH   DFND 1,2 162,329 0 0
ISHARES TR EAFE SML CP ETF 464288273 610 12,644 SH   DFND 1,2 12,644 0 0
ISHARES TR JP MOR EM MK ETF 464288281 1,702 14,781 SH   DFND 1,2 14,781 0 0
ISHARES TR IBOXX HI YD ETF 464288513 934 11,033 SH   DFND 1,2 11,033 0 0
ISHARES TR MBS ETF 464288588 14,753 134,153 SH   DFND 1,2 134,153 0 0
ISHARES TR CORE US CR BD 464288620 8,394 74,049 SH   DFND 1,2 74,049 0 0
ISHARES TR 3-7 YR TR BD ETF 464288661 1,341 10,533 SH   DFND 1,2 10,533 0 0
ISHARES TR SHRT TRS BD ETF 464288679 59,848 541,851 SH   DFND 1,2 541,851 0 0
ISHARES TR U.S. PFD STK ETF 464288687 26,190 656,553 SH   DFND 1,2 656,553 0 0
ISHARES INDIA 50 ETF 464289529 667 23,564 SH   DFND 1,2 23,564 0 0
ISHARES SILVER TRUST ISHARES 46428Q109 6,113 342,086 SH   DFND 1,2 342,086 0 0
ISHARES TR MSCI INDIA ETF 46429B598 3,511 125,774 SH   DFND 1,2 125,774 0 0
ISHARES TR CHINA ETF 46429B671 273 6,442 SH   DFND 1,2 6,442 0 0
ISHARES TR MIN VOL USA ETF 46429B697 17,280 373,940 SH   DFND 1,2 373,940 0 0
ISHARES TR CORE MSCI EAFE 46432F842 375 7,222 SH   DFND 1,2 7,222 0 0
ISHARES INC CORE MSCI EMKT 46434G103 83 1,976 SH   DFND 1,2 1,976 0 0
ISHARES INC MSCI RUSSIA CAP 46434G806 28 2,117 SH   DFND 1,2 2,117 0 0
ITC HLDGS CORP COM 465685105 3,156 67,399 SH   DFND 1,2 67,399 0 0
JPMORGAN CHASE & CO ALERIAN ML ETN 46625H365 3,441 108,079 SH   DFND 1,2 108,079 0 0
JOY GLOBAL INC COM 481165108 400 18,920 SH   DFND 1,2 18,920 0 0
KELLOGG CO COM 487836108 2,136 26,161 SH   DFND 1,2 26,161 0 0
KENNEDY-WILSON HLDGS INC COM 489398107 1,428 75,337 SH   DFND 1,2 75,337 0 0
KINDER MORGAN INC DEL COM 49456B101 55 2,921 SH   DFND 1,2 2,921 0 0
KITE RLTY GROUP TR COM NEW 49803T300 1,882 67,142 SH   DFND 1,2 67,142 0 0
KRISPY KREME DOUGHNUTS INC COM 501014104 533 25,435 SH   DFND 1,2 25,435 0 0
LEXINGTON REALTY TRUST COM 529043101 1,511 149,497 SH   DFND 1,2 149,497 0 0
LEXMARK INTL INC CL A 529771107 3,445 91,262 SH   DFND 1,2 91,262 0 0
LOUISIANA PAC CORP COM 546347105 103 5,956 SH   DFND 1,2 5,956 0 0
MACK CALI RLTY CORP COM 554489104 1,771 65,580 SH   DFND 1,2 65,580 0 0
MARATHON PETE CORP COM 56585A102 26 691 SH   DFND 1,2 691 0 0
MARKETO INC COM 57063L107 420 12,074 SH   DFND 1,2 12,074 0 0
MEDIVATION INC COM 58501N101 8,288 137,448 SH   DFND 1,2 137,448 0 0
MEMORIAL RESOURCE DEV CORP COM 58605Q109 1,538 96,856 SH   DFND 1,2 96,856 0 0
MONMOUTH REAL ESTATE INVT CO CL A 609720107 651 49,093 SH   DFND 1,2 49,093 0 0
MONOGRAM RESIDENTIAL TR INC COM 60979P105 1,370 134,142 SH   DFND 1,2 134,142 0 0
MONSANTO CO NEW COM 61166W101 6,673 64,531 SH   DFND 1,2 64,531 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106 382 18,358 SH   DFND 1,2 18,358 0 0
NEW SR INVT GROUP INC COM 648691103 694 65,024 SH   DFND 1,2 65,024 0 0
NEW YORK MTG TR INC COM PAR $.02 649604501 534 87,534 SH   DFND 1,2 87,534 0 0
NEW YORK REIT INC COM 64976L109 1,227 132,684 SH   DFND 1,2 132,684 0 0
NEWCASTLE INVT CORP NEW COM PAR $0.01 65105M603 214 46,594 SH   DFND 1,2 46,594 0 0
NEWMONT MINING CORP COM 651639106 779 19,908 SH   DFND 1,2 19,908 0 0
NOW INC COM 67011P100 74 4,080 SH   DFND 1,2 4,080 0 0
OASIS PETE INC NEW COM 674215108 64 6,872 SH   DFND 1,2 6,872 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 76 1,009 SH   DFND 1,2 1,009 0 0
OIL STS INTL INC COM 678026105 65 1,975 SH   DFND 1,2 1,975 0 0
ORCHID IS CAP INC COM 68571X103 169 16,381 SH   DFND 1,2 16,381 0 0
PBF ENERGY INC CL A 69318G106 91 3,820 SH   DFND 1,2 3,820 0 0
PARKWAY PPTYS INC COM 70159Q104 1,584 94,736 SH   DFND 1,2 94,736 0 0
PEBBLEBROOK HOTEL TR COM 70509V100 1,504 57,296 SH   DFND 1,2 57,296 0 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 1,173 54,676 SH   DFND 1,2 54,676 0 0
PENNYMAC MTG INVT TR COM 70931T103 863 53,202 SH   DFND 1,2 53,202 0 0
PHILLIPS 66 COM 718546104 56 702 SH   DFND 1,2 702 0 0
PHYSICIANS RLTY TR COM 71943U104 2,271 108,073 SH   DFND 1,2 108,073 0 0
PILGRIMS PRIDE CORP NEW COM 72147K108 554 21,742 SH   DFND 1,2 21,742 0 0
PIONEER ENERGY SVCS CORP COM 723664108 11 2,478 SH   DFND 1,2 2,478 0 0
PIONEER NAT RES CO COM 723787107 32 214 SH   DFND 1,2 214 0 0
PLATFORM SPECIALTY PRODS COR COM 72766Q105 382 42,964 SH   DFND 1,2 42,964 0 0
POLYCOM INC COM 73172K104 988 87,811 SH   DFND 1,2 87,811 0 0
POST HLDGS INC COM 737446104 402 4,859 SH   DFND 1,2 4,859 0 0
POWERSHARES DB CMDTY IDX TRA UNIT BEN INT 73935S105 119 7,754 SH   DFND 1,2 7,754 0 0
POWERSHARES DB G10 CURCY HAR COM UT BEN INT 73935Y102 12,824 529,904 SH   DFND 1,2 529,904 0 0
POWERSHARES ETF TRUST II SENIOR LN PORT 73936Q769 43,837 1,908,489 SH   DFND 1,2 1,908,489 0 0
POWERSHARES ETF TR II SOVEREIGN DEBT 73936T573 1,368 46,252 SH   DFND 1,2 46,252 0 0
POWERSHARES ETF TR II S&P500 LOW VOL 73937B779 9,379 219,203 SH   DFND 1,2 219,203 0 0
PROSHARES TR PSHS SH MSCI EMR 74347R396 896 33,094 SH   DFND 1,2 33,094 0 0
PROSHARES TR II ULTRASHRT NEW 74347W395 296 3,560 SH   DFND 1,2 3,560 0 0
PROSHARES TR II ULTRASHORT YEN N 74347W569 754 9,859 SH   DFND 1,2 9,859 0 0
PROSHARES TR II ULTRASHRT EURO 74347W882 26 1,137 SH   DFND 1,2 1,137 0 0
PROSHARES TR ULTSHT REAL EST 74348A244 669 17,002 SH   DFND 1,2 17,002 0 0
PROSHARES TR ULTSHT RUSS2000 74348A319 56 1,790 SH   DFND 1,2 1,790 0 0
QTS RLTY TR INC COM CL A 74736A103 1,789 31,956 SH   DFND 1,2 31,956 0 0
QUESTAR CORP COM 748356102 2,431 95,804 SH   DFND 1,2 95,804 0 0
RAIT FINANCIAL TRUST COM NEW 749227609 229 73,225 SH   DFND 1,2 73,225 0 0
RPC INC COM 749660106 36 2,322 SH   DFND 1,2 2,322 0 0
RAMCO-GERSHENSON PPTYS TR COM SH BEN INT 751452202 1,236 63,048 SH   DFND 1,2 63,048 0 0
REDWOOD TR INC COM 758075402 841 60,915 SH   DFND 1,2 60,915 0 0
RESOURCE CAP CORP COM NEW 76120W708 313 24,352 SH   DFND 1,2 24,352 0 0
RETAIL OPPORTUNITY INVTS COR COM 76131N101 1,729 79,805 SH   DFND 1,2 79,805 0 0
REXFORD INDL RLTY INC COM 76169C100 1,120 53,086 SH   DFND 1,2 53,086 0 0
RITE AID CORP COM 767754104 5,782 771,930 SH   DFND 1,2 771,930 0 0
ROFIN SINAR TECHNOLOGIES INC COM 775043102 507 15,883 SH   DFND 1,2 15,883 0 0
ROUSE PPTYS INC COM 779287101 1,180 64,656 SH   DFND 1,2 64,656 0 0
ROYAL GOLD INC COM 780287108 177 2,457 SH   DFND 1,2 2,457 0 0
RYDEX ETF TRUST GUG S&P500 PU VA 78355W304 966 18,932 SH   DFND 1,2 18,932 0 0
RYDEX ETF TRUST GUG S&P500 PU GR 78355W403 783 9,671 SH   DFND 1,2 9,671 0 0
SM ENERGY CO COM 78454L100 71 2,637 SH   DFND 1,2 2,637 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 2,689 12,835 SH   DFND 1,2 12,835 0 0
SPDR INDEX SHS FDS S&P CHINA ETF 78463X400 95 1,361 SH   DFND 1,2 1,361 0 0
SPDR INDEX SHS FDS S&P EMKTSC ETF 78463X756 886 22,503 SH   DFND 1,2 22,503 0 0
SPDR INDEX SHS FDS DJ INTL RL ETF 78463X863 1,802 43,476 SH   DFND 1,2 43,476 0 0
SPDR INDEX SHS FDS S&P INTL SMLCP 78463X871 77 2,639 SH   DFND 1,2 2,639 0 0
SPDR SERIES TRUST BRC CNV SECS ETF 78464A359 2,248 51,298 SH   DFND 1,2 51,298 0 0
SPDR SERIES TRUST BRC MTG BCKD BD 78464A383 21,380 784,976 SH   DFND 1,2 784,976 0 0
SPDR SERIES TRUST BRC HGH YLD BD 78464A417 761 21,329 SH   DFND 1,2 21,329 0 0
SPDR SERIES TRUST DJ REIT ETF 78464A607 70 703 SH   DFND 1,2 703 0 0
SPDR SERIES TRUST BRCLYS AGG ETF 78464A649 2,856 48,063 SH   DFND 1,2 48,063 0 0
SPDR SERIES TRUST BRCLYS 1-3MT ETF 78464A680 27,822 608,828 SH   DFND 1,2 608,828 0 0
SSGA ACTIVE ETF TR BLKSTN GSOSRLN 78467V608 7,631 163,230 SH   DFND 1,2 163,230 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 1,063 51,517 SH   DFND 1,2 51,517 0 0
ST JUDE MED INC COM 790849103 11,821 151,547 SH   DFND 1,2 151,547 0 0
SANCHEZ ENERGY CORP COM 79970Y105 15 2,171 SH   DFND 1,2 2,171 0 0
SANDERSON FARMS INC COM 800013104 658 7,591 SH   DFND 1,2 7,591 0 0
SCHLUMBERGER LTD COM 806857108 130 1,646 SH   DFND 1,2 1,646 0 0
SEABOARD CORP COM 811543107 270 94 SH   DFND 1,2 94 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 419 5,848 SH   DFND 1,2 5,848 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 446 5,712 SH   DFND 1,2 5,712 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 313 4,581 SH   DFND 1,2 4,581 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 26,674 1,168,362 SH   DFND 1,2 1,168,362 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 726 12,976 SH   DFND 1,2 12,976 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 1,122 25,874 SH   DFND 1,2 25,874 0 0
SEMGROUP CORP CL A 81663A105 56 1,718 SH   DFND 1,2 1,718 0 0
SERITAGE GROWTH PPTYS CL A 81752R100 920 18,450 SH   DFND 1,2 18,450 0 0
SILVER BAY RLTY TR CORP COM 82735Q102 442 25,961 SH   DFND 1,2 25,961 0 0
SMUCKER J M CO COM NEW 832696405 1,356 8,897 SH   DFND 1,2 8,897 0 0
SOUTHERN COPPER CORP COM 84265V105 888 32,920 SH   DFND 1,2 32,920 0 0
SPECTRA ENERGY CORP COM 847560109 32 880 SH   DFND 1,2 880 0 0
STAG INDL INC COM 85254J102 1,310 54,998 SH   DFND 1,2 54,998 0 0
SUMMIT HOTEL PPTYS COM 866082100 904 68,272 SH   DFND 1,2 68,272 0 0
SUPERIOR ENERGY SVCS INC COM 868157108 108 5,846 SH   DFND 1,2 5,846 0 0
SYNERGY RES CORP COM 87164P103 48 7,192 SH   DFND 1,2 7,192 0 0
TESCO CORP COM 88157K101 12 1,723 SH   DFND 1,2 1,723 0 0
TESORO LOGISTICS LP COM UNIT LP 88160T107 132 2,674 SH   DFND 1,2 2,674 0 0
TIER REIT INC COM NEW 88650V208 585 38,183 SH   DFND 1,2 38,183 0 0
TITAN INTL INC ILL COM 88830M102 78 12,505 SH   DFND 1,2 12,505 0 0
TIVO INC COM 888706108 584 58,952 SH   DFND 1,2 58,952 0 0
TUMI HLDGS INC COM 89969Q104 909 33,987 SH   DFND 1,2 33,987 0 0
TURQUOISE HILL RES LTD COM 900435108 1,341 396,700 SH   DFND 1,2 396,700 0 0
TYSON FOODS INC CL A 902494103 2,138 32,009 SH   DFND 1,2 32,009 0 0
VALERO ENERGY CORP NEW COM 91913Y100 32 632 SH   DFND 1,2 632 0 0
VALSPAR CORP COM 920355104 6,217 57,548 SH   DFND 1,2 57,548 0 0
VANECK VECTORS ETF TR RUSSIA ETF 92189F403 185 10,645 SH   DFND 1,2 10,645 0 0
VANECK VECTORS ETF TR JP MORGAN MKTS 92189F494 1,068 56,583 SH   DFND 1,2 56,583 0 0
VANGUARD BD INDEX FD INC SHORT TRM BOND 921937827 212,277 2,618,773 SH   DFND 1,2 2,618,773 0 0
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 65,059 771,747 SH   DFND 1,2 771,747 0 0
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 20,755 586,973 SH   DFND 1,2 586,973 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 305 8,686 SH   DFND 1,2 8,686 0 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 19,667 421,475 SH   DFND 1,2 421,475 0 0
VANGUARD WORLD FDS CONSUM DIS ETF 92204A108 78 637 SH   DFND 1,2 637 0 0
VANGUARD WORLD FDS ENERGY ETF 92204A306 84 887 SH   DFND 1,2 887 0 0
VANGUARD WORLD FDS HEALTH CAR ETF 92204A504 182 1,395 SH   DFND 1,2 1,395 0 0
VANGUARD WORLD FDS INDUSTRIAL ETF 92204A603 227 2,137 SH   DFND 1,2 2,137 0 0
VANGUARD WORLD FDS INF TECH ETF 92204A702 309 2,882 SH   DFND 1,2 2,882 0 0
VANGUARD SCOTTSDALE FDS VNG RUS2000IDX 92206C664 5 53 SH   DFND 1,2 53 0 0
VANGUARD SCOTTSDALE FDS MORTG-BACK SEC 92206C771 42,864 795,997 SH   DFND 1,2 795,997 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 34,816 389,392 SH   DFND 1,2 389,392 0 0
VANGUARD INDEX FDS REIT ETF 922908553 614 6,930 SH   DFND 1,2 6,930 0 0
VANGUARD INDEX FDS SML CP GRW ETF 922908595 28,778 232,265 SH   DFND 1,2 232,265 0 0
VANGUARD INDEX FDS GROWTH ETF 922908736 8,598 80,206 SH   DFND 1,2 80,206 0 0
VANGUARD INDEX FDS VALUE ETF 922908744 28,820 339,113 SH   DFND 1,2 339,113 0 0
VIRGIN AMER INC COM VTG 92765X208 3,144 55,932 SH   DFND 1,2 55,932 0 0
WP GLIMCHER IN COM 92939N102 1,668 149,082 SH   DFND 1,2 149,082 0 0
WASHINGTON REAL ESTATE INVT SH BEN INT 939653101 1,843 58,580 SH   DFND 1,2 58,580 0 0
WESTAR ENERGY INC COM 95709T100 1,917 34,176 SH   DFND 1,2 34,176 0 0
WESTERN ASSET MTG CAP CORP COM 95790D105 307 32,733 SH   DFND 1,2 32,733 0 0
WESTERN REFNG INC COM 959319104 70 3,414 SH   DFND 1,2 3,414 0 0
WINTHROP RLTY TR SH BEN INT NEW 976391300 231 26,335 SH   DFND 1,2 26,335 0 0
WISDOMTREE TR INTL SMCAP DIV 97717W760 118 2,110 SH   DFND 1,2 2,110 0 0
WISDOMTREE TR EM LCL DEBT FD 97717X867 270 7,209 SH   DFND 1,2 7,209 0 0
XENIA HOTELS & RESORTS INC COM 984017103 1,467 87,441 SH   DFND 1,2 87,441 0 0
XENOPORT INC COM 98411C100 434 61,593 SH   DFND 1,2 61,593 0 0
XYLEM INC COM 98419M100 1,344 30,109 SH   DFND 1,2 30,109 0 0
XURA INC COM 98420V107 453 18,536 SH   DFND 1,2 18,536 0 0