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
AG MTG INVT TR INC COM 001228105 464 30,467 SH   DFND 1,2 30,467 0 0
ACADIA RLTY TR COM SH BEN INT 004239109 2,232 74,220 SH   DFND 1,2 74,220 0 0
ALCOA INC COM 013817101 355 36,766 SH   DFND 1,2 36,766 0 0
ALON USA ENERGY INC COM 020520102 30 1,639 SH   DFND 1,2 1,639 0 0
ALON USA PARTNERS LP UT LTDPART INT 02052T109 14 597 SH   DFND 1,2 597 0 0
AMERICAN RESIDENTIAL PPTYS I COM 02927E303 604 34,974 SH   DFND 1,2 34,974 0 0
AMERICAN VANGUARD CORP COM 030371108 145 12,526 SH   DFND 1,2 12,526 0 0
AMERICAN WTR WKS CO INC NEW COM 030420103 737 13,375 SH   DFND 1,2 13,375 0 0
ANADARKO PETE CORP COM 032511107 110 1,825 SH   DFND 1,2 1,825 0 0
ANWORTH MORTGAGE ASSET CP COM 037347101 543 109,934 SH   DFND 1,2 109,934 0 0
APOLLO COML REAL EST FIN INC COM 03762U105 989 62,935 SH   DFND 1,2 62,935 0 0
APOLLO RESIDENTIAL MTG INC COM 03763V102 437 34,515 SH   DFND 1,2 34,515 0 0
AQUA AMERICA INC COM 03836W103 348 13,153 SH   DFND 1,2 13,153 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 339 8,167 SH   DFND 1,2 8,167 0 0
ARES COML REAL ESTATE CORP COM 04013V108 328 27,369 SH   DFND 1,2 27,369 0 0
ASHFORD HOSPITALITY TR INC COM SHS 044103109 598 98,063 SH   DFND 1,2 98,063 0 0
BARCLAYS BK PLC IPATH S&P MT ETN 06740C519 304 23,368 SH   DFND 1,2 23,368 0 0
BONANZA CREEK ENERGY INC COM 097793103 9 2,148 SH   DFND 1,2 2,148 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 2,372 192,555 SH   DFND 1,2 192,555 0 0
CLECO CORP NEW COM 12561W105 1,076 20,209 SH   DFND 1,2 20,209 0 0
CVR ENERGY INC COM 12662P108 34 824 SH   DFND 1,2 824 0 0
CVR PARTNERS LP COM 126633106 143 15,328 SH   DFND 1,2 15,328 0 0
CVR REFNG LP COMUNIT REP LT 12663P107 45 2,332 SH   DFND 1,2 2,332 0 0
CALIFORNIA RES CORP COM 13057Q107 43 16,495 SH   DFND 1,2 16,495 0 0
CAMPUS CREST CMNTYS INC COM 13466Y105 367 69,053 SH   DFND 1,2 69,053 0 0
CEDAR REALTY TRUST INC COM NEW 150602209 546 87,923 SH   DFND 1,2 87,923 0 0
CHAMBERS STR PPTYS COM 157842105 1,661 255,989 SH   DFND 1,2 255,989 0 0
CHESAPEAKE LODGING TR SH BEN INT 165240102 1,656 63,554 SH   DFND 1,2 63,554 0 0
CHEVRON CORP NEW COM 166764100 525 6,661 SH   DFND 1,2 6,661 0 0
CITY NATL CORP COM 178566105 2,302 26,146 SH   DFND 1,2 26,146 0 0
COLONY CAP INC CL A 19624R106 2,311 118,170 SH   DFND 1,2 118,170 0 0
CONAGRA FOODS INC COM 205887102 222 5,484 SH   DFND 1,2 5,484 0 0
CONOCOPHILLIPS COM 20825C104 209 4,363 SH   DFND 1,2 4,363 0 0
CONSOL ENERGY INC COM 20854P109 93 9,453 SH   DFND 1,2 9,453 0 0
COUSINS PPTYS INC COM 222795106 2,056 223,011 SH   DFND 1,2 223,011 0 0
CURRENCYSHS BRIT POUND STER BRIT POUND STE 23129S106 1,572 10,609 SH   DFND 1,2 10,609 0 0
CURRENCYSHS JAPANESE YEN TR JAPANESE YEN 23130A102 9,867 122,071 SH   DFND 1,2 122,071 0 0
CURRENCYSHARES EURO TR EURO SHS 23130C108 47,052 429,387 SH   DFND 1,2 429,387 0 0
CYRUSONE INC COM 23283R100 2,224 68,093 SH   DFND 1,2 68,093 0 0
DENBURY RES INC COM NEW 247916208 45 18,363 SH   DFND 1,2 18,363 0 0
DEVON ENERGY CORP NEW COM 25179M103 54 1,456 SH   DFND 1,2 1,456 0 0
DYNEX CAP INC COM NEW 26817Q506 353 53,759 SH   DFND 1,2 53,759 0 0
EOG RES INC COM 26875P101 141 1,943 SH   DFND 1,2 1,943 0 0
EP ENERGY CORP CL A 268785102 10 1,863 SH   DFND 1,2 1,863 0 0
EDUCATION RLTY TR INC COM NEW 28140H203 1,719 52,170 SH   DFND 1,2 52,170 0 0
EMPIRE ST RLTY TR INC CL A 292104106 1,978 116,132 SH   DFND 1,2 116,132 0 0
EXXON MOBIL CORP COM 30231G102 1,105 14,858 SH   DFND 1,2 14,858 0 0
FELCOR LODGING TR INC COM 31430F101 1,012 143,126 SH   DFND 1,2 143,126 0 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 2,480 118,371 SH   DFND 1,2 118,371 0 0
FIRST POTOMAC RLTY TR COM 33610F109 686 62,392 SH   DFND 1,2 62,392 0 0
FLOWSERVE CORP COM 34354P105 412 10,021 SH   DFND 1,2 10,021 0 0
FRANKLIN STREET PPTYS CORP COM 35471R106 1,108 103,041 SH   DFND 1,2 103,041 0 0
FREEPORT-MCMORAN INC CL B 35671D857 303 31,282 SH   DFND 1,2 31,282 0 0
GENERAL MLS INC COM 370334104 431 7,675 SH   DFND 1,2 7,675 0 0
GOVERNMENT PPTYS INCOME TR COM SHS BEN INT 38376A103 1,206 75,346 SH   DFND 1,2 75,346 0 0
GRAMERCY PPTY TR INC COM NEW 38489R605 1,603 77,167 SH   DFND 1,2 77,167 0 0
GULFMARK OFFSHORE INC CL A NEW 402629208 8 1,291 SH   DFND 1,2 1,291 0 0
GULFPORT ENERGY CORP COM NEW 402635304 168 5,651 SH   DFND 1,2 5,651 0 0
HALLIBURTON CO COM 406216101 106 2,998 SH   DFND 1,2 2,998 0 0
HATTERAS FINL CORP COM 41902R103 1,564 103,265 SH   DFND 1,2 103,265 0 0
HORMEL FOODS CORP COM 440452100 1,828 28,876 SH   DFND 1,2 28,876 0 0
HUDSON PAC PPTYS INC COM 444097109 2,643 91,817 SH   DFND 1,2 91,817 0 0
ISTAR INC COM 45031U101 1,124 89,354 SH   DFND 1,2 89,354 0 0
IDEX CORP COM 45167R104 415 5,821 SH   DFND 1,2 5,821 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 192 26,619 SH   DFND 1,2 26,619 0 0
INGREDION INC COM 457187102 80 921 SH   DFND 1,2 921 0 0
INLAND REAL ESTATE CORP COM NEW 457461200 773 95,390 SH   DFND 1,2 95,390 0 0
INVESCO MORTGAGE CAPITAL INC COM 46131B100 1,635 133,576 SH   DFND 1,2 133,576 0 0
INVESTORS REAL ESTATE TR SH BEN INT 461730103 1,042 134,645 SH   DFND 1,2 134,645 0 0
ISHARES MSCI EURZONE ETF 464286608 8,675 252,626 SH   DFND 1,2 252,626 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 7,016 197,789 SH   DFND 1,2 197,789 0 0
ISHARES TR CORE S&P500 ETF 464287200 5 26 SH   DFND 1,2 26 0 0
ISHARES TR CORE US AGGBD ET 464287226 88,313 805,925 SH   DFND 1,2 805,925 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 3,068 93,593 SH   DFND 1,2 93,593 0 0
ISHARES TR IBOXX INV CP ETF 464287242 74,466 641,458 SH   DFND 1,2 641,458 0 0
ISHARES TR S&P 500 GRWT ETF 464287309 33 305 SH   DFND 1,2 305 0 0
ISHARES TR S&P 500 VAL ETF 464287408 14,865 176,905 SH   DFND 1,2 176,905 0 0
ISHARES TR 20+ YR TR BD ETF 464287432 150 1,215 SH   DFND 1,2 1,215 0 0
ISHARES TR 1-3 YR TR BD ETF 464287457 139,977 1,646,971 SH   DFND 1,2 1,646,971 0 0
ISHARES TR MSCI EAFE ETF 464287465 31,026 541,294 SH   DFND 1,2 541,294 0 0
ISHARES TR RUS 1000 VAL ETF 464287598 44,556 477,645 SH   DFND 1,2 477,645 0 0
ISHARES TR RUS 1000 GRW ETF 464287614 75 810 SH   DFND 1,2 810 0 0
ISHARES TR RUS 2000 GRW ETF 464287648 10,605 79,164 SH   DFND 1,2 79,164 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 2,172 19,885 SH   DFND 1,2 19,885 0 0
ISHARES TR U.S. REAL ES ETF 464287739 1,350 19,019 SH   DFND 1,2 19,019 0 0
ISHARES TR EUROPE ETF 464287861 2,467 61,968 SH   DFND 1,2 61,968 0 0
ISHARES TR SP SMCP600GR ETF 464287887 38,763 322,681 SH   DFND 1,2 322,681 0 0
ISHARES TR EAFE SML CP ETF 464288273 6,551 137,136 SH   DFND 1,2 137,136 0 0
ISHARES TR CORE US CR BD 464288620 2,651 24,446 SH   DFND 1,2 24,446 0 0
ISHARES TR SHRT TRS BD ETF 464288679 47,047 426,489 SH   DFND 1,2 426,489 0 0
ISHARES INDIA 50 ETF 464289529 0 16 SH   DFND 1,2 16 0 0
ISHARES SILVER TRUST ISHARES 46428Q109 108 7,811 SH   DFND 1,2 7,811 0 0
ISHARES TR MSCI INDIA ETF 46429B598 2 61 SH   DFND 1,2 61 0 0
ISHARES TR CHINA ETF 46429B671 2,182 49,810 SH   DFND 1,2 49,810 0 0
JOY GLOBAL INC COM 481165108 60 3,998 SH   DFND 1,2 3,998 0 0
KELLOGG CO COM 487836108 306 4,592 SH   DFND 1,2 4,592 0 0
KENNEDY-WILSON HLDGS INC COM 489398107 2,127 95,963 SH   DFND 1,2 95,963 0 0
KINDER MORGAN INC DEL COM 49456B101 210 7,598 SH   DFND 1,2 7,598 0 0
KITE RLTY GROUP TR COM NEW 49803T300 2,144 90,057 SH   DFND 1,2 90,057 0 0
LEGACY RESVS LP UNIT LP INT 524707304 13 3,205 SH   DFND 1,2 3,205 0 0
LEXINGTON REALTY TRUST COM 529043101 1,641 202,553 SH   DFND 1,2 202,553 0 0
LINDSAY CORP COM 535555106 340 5,010 SH   DFND 1,2 5,010 0 0
LOUISIANA PAC CORP COM 546347105 881 61,889 SH   DFND 1,2 61,889 0 0
MACK CALI RLTY CORP COM 554489104 1,642 86,964 SH   DFND 1,2 86,964 0 0
MARATHON PETE CORP COM 56585A102 90 1,934 SH   DFND 1,2 1,934 0 0
MARKET VECTORS ETF TR EM LC CURR DBT 57060U522 17,929 1,034,577 SH   DFND 1,2 1,034,577 0 0
MEDICAL PPTYS TRUST INC COM 58463J304 2,795 252,682 SH   DFND 1,2 252,682 0 0
MONDELEZ INTL INC CL A 609207105 889 21,239 SH   DFND 1,2 21,239 0 0
MONMOUTH REAL ESTATE INVT CO CL A 609720107 588 60,348 SH   DFND 1,2 60,348 0 0
MONOGRAM RESIDENTIAL TR INC COM 60979P105 1,678 180,196 SH   DFND 1,2 180,196 0 0
NEW SR INVT GROUP INC COM 648691103 968 92,564 SH   DFND 1,2 92,564 0 0
NEW YORK MTG TR INC COM PAR $.02 649604501 649 118,221 SH   DFND 1,2 118,221 0 0
NEW YORK REIT INC COM 64976L109 1,771 176,089 SH   DFND 1,2 176,089 0 0
NEWCASTLE INVT CORP NEW COM PAR $0.01 65105M603 291 66,253 SH   DFND 1,2 66,253 0 0
NEWMONT MINING CORP COM 651639106 101 6,277 SH   DFND 1,2 6,277 0 0
NORTHERN TIER ENERGY LP COM UN REPR PART 665826103 68 2,982 SH   DFND 1,2 2,982 0 0
OASIS PETE INC NEW COM 674215108 61 7,051 SH   DFND 1,2 7,051 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 181 2,730 SH   DFND 1,2 2,730 0 0
OIL STS INTL INC COM 678026105 69 2,654 SH   DFND 1,2 2,654 0 0
ORCHID IS CAP INC COM 68571X103 209 22,642 SH   DFND 1,2 22,642 0 0
PBF ENERGY INC CL A 69318G106 127 4,507 SH   DFND 1,2 4,507 0 0
PARKWAY PPTYS INC COM 70159Q104 1,418 91,142 SH   DFND 1,2 91,142 0 0
PEABODY ENERGY CORP COM 704549104 16 11,415 SH   DFND 1,2 11,415 0 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 1,442 72,710 SH   DFND 1,2 72,710 0 0
PENNYMAC MTG INVT TR COM 70931T103 1,228 79,406 SH   DFND 1,2 79,406 0 0
PHILLIPS 66 COM 718546104 148 1,925 SH   DFND 1,2 1,925 0 0
PHYSICIANS RLTY TR COM 71943U104 1,161 76,927 SH   DFND 1,2 76,927 0 0
PIONEER ENERGY SVCS CORP COM 723664108 7 3,313 SH   DFND 1,2 3,313 0 0
POWERSHARES DB G10 CURCY HAR COM UT BEN INT 73935Y102 25,918 1,167,491 SH   DFND 1,2 1,167,491 0 0
POWERSHS DB MULTI SECT COMM DB GOLD FUND 73936B606 2 47 SH   DFND 1,2 47 0 0
POWERSHARES ETF TRUST II SENIOR LN PORT 73936Q769 122,036 5,296,687 SH   DFND 1,2 5,296,687 0 0
PROSHARES TR II ULTRASHRT NEW 74347W395 15 144 SH   DFND 1,2 144 0 0
PROSHARES TR II ULSHT BLOOMB CMD 74347W676 20 172 SH   DFND 1,2 172 0 0
RAIT FINANCIAL TRUST COM NEW 749227609 484 97,573 SH   DFND 1,2 97,573 0 0
RPC INC COM 749660106 28 3,175 SH   DFND 1,2 3,175 0 0
RAMCO-GERSHENSON PPTYS TR COM SH BEN INT 751452202 1,266 84,323 SH   DFND 1,2 84,323 0 0
REDWOOD TR INC COM 758075402 1,249 90,280 SH   DFND 1,2 90,280 0 0
RESOLUTE FST PRODS INC COM 76117W109 342 41,204 SH   DFND 1,2 41,204 0 0
RETAIL OPPORTUNITY INVTS COR COM 76131N101 1,741 105,269 SH   DFND 1,2 105,269 0 0
ROYAL GOLD INC COM 780287108 39 820 SH   DFND 1,2 820 0 0
RYDEX ETF TRUST GUG S&P500 PU VA 78355W304 1,522 31,843 SH   DFND 1,2 31,843 0 0
SM ENERGY CO COM 78454L100 113 3,519 SH   DFND 1,2 3,519 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 27,440 143,190 SH   DFND 1,2 143,190 0 0
SPDR INDEX SHS FDS S&P CHINA ETF 78463X400 1,078 15,635 SH   DFND 1,2 15,635 0 0
SPDR INDEX SHS FDS S&P EMKTSC ETF 78463X756 10,334 279,538 SH   DFND 1,2 279,538 0 0
SPDR INDEX SHS FDS S&P INTL SMLCP 78463X871 1,046 38,034 SH   DFND 1,2 38,034 0 0
SPDR SERIES TRUST BRC CNV SECS ETF 78464A359 14,371 321,343 SH   DFND 1,2 321,343 0 0
SPDR SERIES TRUST DJ REIT ETF 78464A607 874 10,143 SH   DFND 1,2 10,143 0 0
SPDR SERIES TRUST BRCLYS AGG ETF 78464A649 6,945 120,143 SH   DFND 1,2 120,143 0 0
SPDR SERIES TRUST BRCLYS 1-3MT ETF 78464A680 30,593 669,597 SH   DFND 1,2 669,597 0 0
SSGA ACTIVE ETF TR BLKSTN GSOSRLN 78467V608 16,292 341,146 SH   DFND 1,2 341,146 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 1,602 69,104 SH   DFND 1,2 69,104 0 0
SANCHEZ ENERGY CORP COM 79970Y105 18 2,858 SH   DFND 1,2 2,858 0 0
SANDERSON FARMS INC COM 800013104 777 11,342 SH   DFND 1,2 11,342 0 0
SCHLUMBERGER LTD COM 806857108 310 4,493 SH   DFND 1,2 4,493 0 0
SEABOARD CORP COM 811543107 394 128 SH   DFND 1,2 128 0 0
SEMGROUP CORP CL A 81663A105 101 2,327 SH   DFND 1,2 2,327 0 0
SIGMA ALDRICH CORP COM 826552101 6,419 46,208 SH   DFND 1,2 46,208 0 0
SILVER BAY RLTY TR CORP COM 82735Q102 581 36,302 SH   DFND 1,2 36,302 0 0
SMUCKER J M CO COM NEW 832696405 176 1,541 SH   DFND 1,2 1,541 0 0
SOUTHERN COPPER CORP COM 84265V105 648 24,266 SH   DFND 1,2 24,266 0 0
SPECTRA ENERGY CORP COM 847560109 62 2,377 SH   DFND 1,2 2,377 0 0
STAG INDL INC COM 85254J102 1,340 73,604 SH   DFND 1,2 73,604 0 0
STONE ENERGY CORP COM 861642106 14 2,914 SH   DFND 1,2 2,914 0 0
SUMMIT HOTEL PPTYS COM 866082100 1,067 91,389 SH   DFND 1,2 91,389 0 0
SYNERGY RES CORP COM 87164P103 47 4,778 SH   DFND 1,2 4,778 0 0
TESCO CORP COM 88157K101 14 1,910 SH   DFND 1,2 1,910 0 0
TESORO LOGISTICS LP COM UNIT LP 88160T107 142 3,146 SH   DFND 1,2 3,146 0 0
TYSON FOODS INC CL A 902494103 1,765 40,960 SH   DFND 1,2 40,960 0 0
VALERO ENERGY CORP NEW COM 91913Y100 110 1,825 SH   DFND 1,2 1,825 0 0
VANGUARD BD INDEX FD INC SHORT TRM BOND 921937827 194,047 2,413,819 SH   DFND 1,2 2,413,819 0 0
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 191,165 2,333,271 SH   DFND 1,2 2,333,271 0 0
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 15,471 434,112 SH   DFND 1,2 434,112 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 5,637 170,360 SH   DFND 1,2 170,360 0 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 12,668 257,597 SH   DFND 1,2 257,597 0 0
VANGUARD INDEX FDS REIT ETF 922908553 7,525 99,616 SH   DFND 1,2 99,616 0 0
VANGUARD INDEX FDS SML CP GRW ETF 922908595 7,021 59,623 SH   DFND 1,2 59,623 0 0
VANGUARD INDEX FDS GROWTH ETF 922908736 49 492 SH   DFND 1,2 492 0 0
VANGUARD INDEX FDS VALUE ETF 922908744 32,680 425,826 SH   DFND 1,2 425,826 0 0
WASHINGTON REAL ESTATE INVT SH BEN INT 939653101 1,829 73,351 SH   DFND 1,2 73,351 0 0
WESTERN ASSET MTG CAP CORP COM 95790D105 566 44,879 SH   DFND 1,2 44,879 0 0
WESTERN REFNG INC COM 959319104 165 3,745 SH   DFND 1,2 3,745 0 0
WILLIAMS COS INC DEL COM 969457100 98 2,650 SH   DFND 1,2 2,650 0 0
WINTHROP RLTY TR SH BEN INT NEW 976391300 518 36,091 SH   DFND 1,2 36,091 0 0
WISDOMTREE TR INTL SMCAP DIV 97717W760 1,571 28,471 SH   DFND 1,2 28,471 0 0
WISDOMTREE TR EM LCL DEBT FD 97717X867 7,148 206,297 SH   DFND 1,2 206,297 0 0
XYLEM INC COM 98419M100 446 13,563 SH   DFND 1,2 13,563 0 0
AMIRA NATURE FOODS LTD SHS G0335L102 40 7,192 SH   DFND 1,2 7,192 0 0
BUNGE LIMITED COM G16962105 144 1,959 SH   DFND 1,2 1,959 0 0
ROWAN COMPANIES PLC SHS CL A G7665A101 105 6,494 SH   DFND 1,2 6,494 0 0
PENTAIR PLC SHS G7S00T104 683 13,373 SH   DFND 1,2 13,373 0 0
ADECOAGRO S A COM L00849106 337 42,356 SH   DFND 1,2 42,356 0 0
OCEAN RIG UDW INC SHS Y64354205 13 6,103 SH   DFND 1,2 6,103 0 0
RYDEX ETF TRUST GUG S&P500 PU GR 78355W403 5 73 SH   DFND 1,2 73 0 0
BOISE CASCADE CO DEL COM 09739D100 433 17,162 SH   DFND 1,2 17,162 0 0
HAIN CELESTIAL GROUP INC COM 405217100 68 1,310 SH   DFND 1,2 1,310 0 0
MERCER INTL INC COM 588056101 281 28,003 SH   DFND 1,2 28,003 0 0
PILGRIMS PRIDE CORP NEW COM 72147K108 590 28,397 SH   DFND 1,2 28,397 0 0
PIONEER NAT RES CO COM 723787107 64 528 SH   DFND 1,2 528 0 0
TURQUOISE HILL RES LTD COM 900435108 208 81,735 SH   DFND 1,2 81,735 0 0
BROADCOM CORP CL A 111320107 6,802 132,266 SH   DFND 1,2 132,266 0 0
INTEGRATED SILICON SOLUTION COM 45812P107 652 30,347 SH   DFND 1,2 30,347 0 0
TIME WARNER CABLE INC COM 88732J207 9,760 54,414 SH   DFND 1,2 54,414 0 0
PERRIGO CO PLC SHS G97822103 5,201 33,068 SH   DFND 1,2 33,068 0 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 1,143 50,461 SH   DFND 1,2 50,461 0 0
INFRAREIT INC COM 45685L100 883 37,298 SH   DFND 1,2 37,298 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106 334 24,664 SH   DFND 1,2 24,664 0 0
QTS RLTY TR INC COM CL A 74736A103 1,638 37,501 SH   DFND 1,2 37,501 0 0
ISHARES TR JP MOR EM MK ETF 464288281 7,118 66,899 SH   DFND 1,2 66,899 0 0
POWERSHARES GLOBAL ETF TRUST SOVEREIGN DEBT 73936T573 4,288 156,326 SH   DFND 1,2 156,326 0 0
NATIONAL OILWELL VARCO INC COM 637071101 55 1,452 SH   DFND 1,2 1,452 0 0
BREITBURN ENERGY PARTNERS LP COM UT LTD PTN 106776107 22 11,010 SH   DFND 1,2 11,010 0 0
LINN ENERGY LLC UNIT LTD LIAB 536020100 32 11,750 SH   DFND 1,2 11,750 0 0
SUPERIOR ENERGY SVCS INC COM 868157108 99 7,846 SH   DFND 1,2 7,846 0 0
AGL RES INC COM 001204106 4,412 72,277 SH   DFND 1,2 72,277 0 0
ALTERA CORP COM 021441100 4,915 98,141 SH   DFND 1,2 98,141 0 0
BAXALTA INC COM 07177M103 3,383 107,371 SH   DFND 1,2 107,371 0 0
CIGNA CORPORATION COM 125509109 8,763 64,905 SH   DFND 1,2 64,905 0 0
CAMERON INTERNATIONAL CORP COM 13342B105 13,766 224,501 SH   DFND 1,2 224,501 0 0
CHUBB CORP COM 171232101 7,434 60,609 SH   DFND 1,2 60,609 0 0
CYTEC INDS INC COM 232820100 2,245 30,398 SH   DFND 1,2 30,398 0 0
DEALERTRACK TECHNOLOGIES INC COM 242309102 2,130 33,726 SH   DFND 1,2 33,726 0 0
DOT HILL SYS CORP COM 25848T109 591 60,774 SH   DFND 1,2 60,774 0 0
HCC INS HLDGS INC COM 404132102 2,893 37,348 SH   DFND 1,2 37,348 0 0
HEALTH NET INC COM 42222G108 1,442 23,953 SH   DFND 1,2 23,953 0 0
HOME PROPERTIES INC COM 437306103 2,875 38,462 SH   DFND 1,2 38,462 0 0
HUMANA INC COM 444859102 6,226 34,784 SH   DFND 1,2 34,784 0 0
IPC HEALTHCARE INC COM 44984A105 514 6,611 SH   DFND 1,2 6,611 0 0
KYTHERA BIOPHARMACEUTICALS I COM 501570105 1,232 16,430 SH   DFND 1,2 16,430 0 0
MARKWEST ENERGY PARTNERS L P UNIT LTD PARTN 570759100 1,381 32,183 SH   DFND 1,2 32,183 0 0
NATIONAL PENN BANCSHARES INC COM 637138108 866 73,677 SH   DFND 1,2 73,677 0 0
OM GROUP INC COM 670872100 551 16,753 SH   DFND 1,2 16,753 0 0
PRECISION CASTPARTS CORP COM 740189105 14,172 61,696 SH   DFND 1,2 61,696 0 0
STANCORP FINL GROUP INC COM 852891100 1,812 15,867 SH   DFND 1,2 15,867 0 0
SYMETRA FINL CORP COM 87151Q106 771 24,363 SH   DFND 1,2 24,363 0 0
TEREX CORP NEW COM 880779103 1,207 67,277 SH   DFND 1,2 67,277 0 0
THORATEC CORP COM NEW 885175307 2,512 39,711 SH   DFND 1,2 39,711 0 0
XOOM CORP COM 98419Q101 1,362 54,724 SH   DFND 1,2 54,724 0 0
ZULILY INC CL A 989774104 544 31,241 SH   DFND 1,2 31,241 0 0
ISHARES TR IBOXX HI YD ETF 464288513 25 300 SH   DFND 1,2 300 0 0
ISHARES TR CORE MSCI EAFE 46432F842 81 1,526 SH   DFND 1,2 1,526 0 0
ISHARES INC CORE MSCI EMKT 46434G103 10 254 SH   DFND 1,2 254 0 0
SPDR SERIES TRUST BRC HGH YLD BD 78464A417 20 550 SH   DFND 1,2 550 0 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 105 2,628 SH   DFND 1,2 2,628 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 9 192 SH   DFND 1,2 192 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 125 5,512 SH   DFND 1,2 5,512 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 86 2,188 SH   DFND 1,2 2,188 0 0
VANGUARD WORLD FDS CONSUM STP ETF 92204A207 3 24 SH   DFND 1,2 24 0 0
VANGUARD WORLD FDS FINANCIALS ETF 92204A405 21 460 SH   DFND 1,2 460 0 0
VANGUARD WORLD FDS INF TECH ETF 92204A702 55 554 SH   DFND 1,2 554 0 0
VANGUARD WORLD FDS MATERIALS ETF 92204A801 49 560 SH   DFND 1,2 560 0 0
VANGUARD SCOTTSDALE FDS VNG RUS2000IDX 92206C664 3 36 SH   DFND 1,2 36 0 0
ARMOUR RESIDENTIAL REIT INC COM NEW 042315507 940 46,904 SH   DFND 1,2 46,904 0 0
GLOBAL NET LEASE INC COM 379378102 1,690 183,664 SH   DFND 1,2 183,664 0 0
RESOURCE CAP CORP COM NEW 76120W708 392 35,068 SH   DFND 1,2 35,068 0 0
BARCLAYS BK PLC DJUBS CMDT ETN36 06738C778 1 26 SH   DFND 1,2 26 0 0
ISHARES MSCI BRZ CAP ETF 464286400 6 269 SH   DFND 1,2 269 0 0
ISHARES INC MSCI RUSSIA CAP 46434G806 0 8 SH   DFND 1,2 8 0 0
MARKET VECTORS ETF TR RUSSIA ETF 57060U506 1 61 SH   DFND 1,2 61 0 0
POWERSHARES DB CMDTY IDX TRA UNIT BEN INT 73935S105 2 128 SH   DFND 1,2 128 0 0
PROSHARES TR II VIX MDTRM FUTR N 74347W338 20 320 SH   DFND 1,2 320 0 0
PROSHARES TR II ULTRASHORT YEN N 74347W569 253 2,878 SH   DFND 1,2 2,878 0 0
PROSHARES TR ULTSHT REAL EST 74348A244 306 5,816 SH   DFND 1,2 5,816 0 0
SPDR INDEX SHS FDS DJ INTL RL ETF 78463X863 10 246 SH   DFND 1,2 246 0 0
WISDOMTREE TR EMERG CUR STR FD 97717W133 81 4,805 SH   DFND 1,2 4,805 0 0