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
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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
Consumer Staples Select Sector ETF 81369Y308 24 498 SH   SOLE   498 0 0
Consumer Staples Select Sector ETF 81369Y308 7,700 157,972 SH   DFND 1 157,972 0 0
Energy Select Sector SPDR ETF 81369Y506 16 201 SH   SOLE   201 0 0
Energy Select Sector SPDR ETF 81369Y506 4,978 64,172 SH   DFND 1 64,172 0 0
Financial Select Sector SPDR ETF 81369Y605 752 31,178 SH   SOLE   31,178 0 0
Health Care Select Sector SPDR ETF 81369Y209 26 352 SH   SOLE   352 0 0
Health Care Select Sector SPDR ETF 81369Y209 8,054 111,090 SH   DFND 1 111,090 0 0
Market Vectors Semiconductor E ETF 57060U233 6,274 113,460 SH   SOLE   113,460 0 0
PowerShares QQQ ETF 73935A104 823 7,798 SH   SOLE   7,798 0 0
PowerShares QQQ ETF 73935A104 3,498 33,125 SH   DFND 1 33,125 0 0
Schwab US Fundamental Large Co ETF 808524771 6,509 216,959 SH   SOLE   216,959 0 0
Technology Select Sector SPDR ETF 81369Y803 777 18,745 SH   SOLE   18,745 0 0
Technology Select Sector SPDR ETF 81369Y803 3,445 83,121 SH   DFND 1 83,121 0 0
Vanguard Information Technolog ETF 92204A702 790 7,416 SH   SOLE   7,416 0 0
iShares Dow Jones Select Divid ETF 464287168 1,654 21,225 SH   SOLE   21,225 0 0
iShares Dow Jones US Financial ETF 464287788 760 8,532 SH   SOLE   8,532 0 0
iShares Dow Jones US Technolog ETF 464287721 719 6,853 SH   SOLE   6,853 0 0
iShares Dow Jones US Utilities ETF 464287697 1,873 16,755 SH   SOLE   16,755 0 0
iShares Goldman Sachs Software ETF 464287515 787 8,193 SH   SOLE   8,193 0 0
iShares Russell Midcap Value I ETF 464287473 24 325 SH   SOLE   325 0 0
iShares Russell Midcap Value I ETF 464287473 7,871 104,584 SH   DFND 1 104,584 0 0
Altria Group COM 02209S103 600 11,994 SH   SOLE   11,994 0 0
Analog Devices COM 032654105 632 10,030 SH   SOLE   10,030 0 0
Apple COM 037833100 279 2,240 SH   SOLE   2,240 0 0
Avago Technologies Ltd COM Y0486S104 1,262 9,940 SH   SOLE   9,940 0 0
Costco Wholesale COM 22160K105 632 4,169 SH   SOLE   4,169 0 0
Garmin COM H2906T109 784 16,507 SH   SOLE   16,507 0 0
General Electric COM 369604103 628 25,295 SH   SOLE   25,295 0 0
Illumina Inc. COM 452327109 951 5,123 SH   SOLE   5,123 0 0
KLA Tencor COM 482480100 522 8,963 SH   SOLE   8,963 0 0
Keurig Green Mountain Inc COM 49271M100 785 7,026 SH   SOLE   7,026 0 0
L Brands Inc COM 501797104 554 5,876 SH   SOLE   5,876 0 0
Lorillard, Inc. COM 544147101 595 9,104 SH   SOLE   9,104 0 0
Micron Technology COM 595112103 810 29,844 SH   SOLE   29,844 0 0
NXP Semiconductors NV COM N6596X109 1,123 11,194 SH   SOLE   11,194 0 0
Philip Morris International, I COM 718172109 520 6,909 SH   SOLE   6,909 0 0
SanDisk COM 80004C101 656 10,315 SH   SOLE   10,315 0 0
The CME Group COM 12572Q105 533 5,626 SH   SOLE   5,626 0 0
Williams Companies COM 969457100 658 13,000 SH   SOLE   13,000 0 0
iShares Nasdaq Biotechnology ETF 464287556 1,666 4,852 SH   SOLE   4,852 0 0
iShares Nasdaq Biotechnology ETF 464287556 3,798 11,060 SH   DFND 1 11,060 0 0
Gastar Exploration COM 367299203 73 27,818 SH   SOLE   27,818 0 0
Imperial Petrolium Recovery COM 453079105 0 22,000 SH   SOLE   22,000 0 0
Deutsche Bank X-Trackers MSCI ETF 233051507 5,103 124,124 SH   SOLE   124,124 0 0
Deutsche X-trackers MSCI EAFE ETF 233051200 11 383 SH   SOLE   383 0 0
Deutsche X-trackers MSCI EAFE ETF 233051200 3,673 122,584 SH   DFND 1 122,584 0 0
Deutsche X-trackers MSCI Em Mk ETF 233051101 11 491 SH   SOLE   491 0 0
Deutsche X-trackers MSCI Em Mk ETF 233051101 3,471 156,621 SH   DFND 1 156,621 0 0
Deutsche X-trackers MSCI Europ ETF 233051853 3,311 113,544 SH   SOLE   113,544 0 0
Vanguard FTSE Europe ETF ETF 922042874 14 264 SH   SOLE   264 0 0
Vanguard FTSE Europe ETF ETF 922042874 4,519 83,351 SH   DFND 1 83,351 0 0
iShares MSCI South Korea Index ETF 464286772 701 12,255 SH   SOLE   12,255 0 0
Novartis ADR ADR 66987V109 585 5,937 SH   SOLE   5,937 0 0
PowerShares DB US Dollar Index ETF 73936D107 11 435 SH   SOLE   435 0 0
PowerShares DB US Dollar Index ETF 73936D107 3,605 139,173 SH   DFND 1 139,173 0 0