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
ISHARES EM HGHYL BD ETF 464286285 334 6,983 SH   DFND   0 6,983 0
ISHARES US OIL EQ&SV ETF 464288844 2,094 44,543 SH   DFND   0 44,543 0
ISHARES U.S. PFD STK ETF 464288687 887 22,105 SH   DFND   0 22,105 0
ISHARES CORE US CR BD 464288620 979 8,635 SH   DFND   0 8,635 0
ISHARES MRG RL ES CP ETF 464288539 463 39,624 SH   DFND   0 39,624 0
ISHARES INTL SEL DIV ETF 464288448 2,616 77,761 SH   DFND   0 77,761 0
ISHARES NAT AMT FREE BD 464288414 897 8,109 SH   DFND   0 8,109 0
ISHARES JP MOR EM MK ETF 464288281 900 8,023 SH   DFND   0 8,023 0
ISHARES EAFE VALUE ETF 464288877 5,614 105,368 SH   DFND   0 105,368 0
ISHARES TR RUS 2000 GRW ETF 464287648 676 4,462 SH   DFND   0 4,462 0
ISHARES TR CORE S&P SCP ETF 464287804 443 3,754 SH   DFND   0 3,754 0
ISHARES TR US HLTHCARE ETF 464287762 293 1,901 SH   DFND   0 1,901 0
ISHARES TR RUS 1000 GRW ETF 464287614 519 5,242 SH   DFND   0 5,242 0
ISHARES TR NASDQ BIOTEC ETF 464287556 388 1,130 SH   DFND   0 1,130 0
ISHARES TR CORE S&P MCP ETF 464287507 885 5,826 SH   DFND   0 5,826 0
ISHARES TR RUS MD CP GR ETF 464287481 6,331 64,652 SH   DFND   0 64,652 0
ISHARES TR MSCI EAFE ETF 464287465 1,789 27,873 SH   DFND   0 27,873 0
ISHARES TR MSCI EMG MKT ETF 464287234 2,394 59,650 SH   DFND   0 59,650 0
ISHARES TR TIPS BD ETF 464287176 653 5,751 SH   DFND   0 5,751 0
ISHARES TR SELECT DIVID ETF 464287168 1,530 19,626 SH   DFND   0 19,626 0
ISHARES TR S&P 100 ETF 464287101 6,712 74,360 SH   DFND   0 74,360 0
ISHARES TR U.S. FINLS ETF 464287788 328 3,688 SH   DFND   0 3,688 0
MANNKIND CORP COM 56400P201 53 10,253 SH   DFND   0 10,253 0
MARKET VECTORS ETF TR HG YLD MUN ETF 57060U878 211 6,728 SH   DFND   0 6,728 0
POWERSHARES ETF TRUST DYNA BUYBK ACH 73935X286 5,634 114,253 SH   DFND   0 114,253 0
POWERSHARES ETF TRUST FTSE US1500 SM 73935X567 4,756 45,727 SH   DFND   0 45,727 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 5,460 51,709 SH   DFND   0 51,709 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 1,345 55,768 SH   DFND   0 55,768 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 1,021 18,305 SH   DFND   0 18,305 0
SPDR GOLD TRUST GOLD SHS 78463V107 726 6,386 SH   DFND   0 6,386 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 3,334 16,153 SH   DFND   0 16,153 0
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 720 2,596 SH   DFND   0 2,596 0
SPDR SERIES TRUST BRCLYS INTL ETF 78464A516 825 15,535 SH   DFND   0 15,535 0
SPDR SERIES TRUST NUVN BRCLY MUNI 78464A458 538 22,232 SH   DFND   0 22,232 0
SPDR SERIES TRUST NUVN BR SHT MUNI 78464A425 306 12,594 SH   DFND   0 12,594 0
SPDR SERIES TRUST BRC HGH YLD BD 78464A417 1,757 44,791 SH   DFND   0 44,791 0
SPDR SERIES TRUST S&P REGL BKG 78464A698 543 13,308 SH   DFND   0 13,308 0
VANGUARD BD INDEX FD INC SHORT TRM BOND 921937827 2,836 35,224 SH   DFND   0 35,224 0
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 1,416 16,986 SH   DFND   0 16,986 0
VANGUARD INDEX FDS TOTAL STK MKT 922908769 2,562 23,889 SH   DFND   0 23,889 0
VANGUARD INDEX FDS REIT ETF 922908553 638 7,563 SH   DFND   0 7,563 0
VANGUARD INDEX FDS EXTEND MKT ETF 922908652 633 6,842 SH   DFND   0 6,842 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 4,308 105,412 SH   DFND   0 105,412 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 3,426 63,185 SH   DFND   0 63,185 0
VANGUARD SPECIALIZED PORTFOL DIV APP ETF 921908844 4,872 60,544 SH   DFND   0 60,544 0
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 2,970 74,576 SH   DFND   0 74,576 0