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
Consumer Staples Select Sector ETF 81369Y308 24 525 SH   SOLE   525 0 0
Consumer Staples Select Sector ETF 81369Y308 7,642 169,415 SH   DFND 1 169,415 0 0
Financial Select Sector SPDR ETF 81369Y605 790 34,075 SH   SOLE   34,075 0 0
Health Care Select Sector SPDR ETF 81369Y209 25 385 SH   SOLE   385 0 0
Health Care Select Sector SPDR ETF 81369Y209 7,929 124,066 SH   DFND 1 124,066 0 0
PowerShares QQQ ETF 73935A104 819 8,287 SH   SOLE   8,287 0 0
SPDR Dow Jones Industrial Avg ETF 78467X109 10 61 SH   SOLE   61 0 0
SPDR Dow Jones Industrial Avg ETF 78467X109 3,364 19,783 SH   DFND 1 19,783 0 0
SPDR S&P ETF 78462F103 8 39 SH   SOLE   39 0 0
SPDR S&P ETF 78462F103 2,532 12,851 SH   DFND 1 12,851 0 0
SPDR S&P Dividend ETF (SDY) ETF 78464A763 23 310 SH   SOLE   310 0 0
SPDR S&P Dividend ETF (SDY) ETF 78464A763 7,462 99,573 SH   DFND 1 99,573 0 0
SPDR S&P Midcap ETF 78467Y107 7 30 SH   SOLE   30 0 0
SPDR S&P Midcap ETF 78467Y107 2,399 9,624 SH   DFND 1 9,624 0 0
Technology Select Sector SPDR ETF 81369Y803 795 19,935 SH   SOLE   19,935 0 0
Vanguard Information Technolog ETF 92204A702 793 7,921 SH   SOLE   7,921 0 0
iShares Dow Jones US Financial ETF 464287788 787 9,400 SH   SOLE   9,400 0 0
iShares Dow Jones US Financial ETF 464287770 795 9,236 SH   SOLE   9,236 0 0
iShares Dow Jones US Technolog ETF 464287721 2,496 24,767 SH   SOLE   24,767 0 0
iShares Goldman Sachs Software ETF 464287515 768 8,875 SH   SOLE   8,875 0 0
iShares PHLX SOX Semiconductor ETF 464287523 1,645 18,935 SH   SOLE   18,935 0 0
iShares Russell Midcap Growth ETF 464287481 4,197 47,509 SH   SOLE   47,509 0 0
iShares Russell Midcap Value I ETF 464287473 23 325 SH   SOLE   325 0 0
iShares Russell Midcap Value I ETF 464287473 7,536 107,650 SH   DFND 1 107,650 0 0
iShares S&P 500 Growth Index ETF 464287309 1,283 12,010 SH   SOLE   12,010 0 0
iShares S&P MidCap Index ETF 464287507 23 165 SH   SOLE   165 0 0
iShares S&P MidCap Index ETF 464287507 7,331 53,613 SH   DFND 1 53,613 0 0
iShares US Aerospace & Defense ETF 464288760 1,666 15,488 SH   SOLE   15,488 0 0
Altria Group COM 02209S103 671 14,597 SH   SOLE   14,597 0 0
Apple COM 037833100 205 2,030 SH   SOLE   2,030 0 0
Avago Technologies Ltd COM Y0486S104 1,158 13,311 SH   SOLE   13,311 0 0
British American Tobacco COM 110448107 569 5,033 SH   SOLE   5,033 0 0
Garmin COM H2906T109 928 17,840 SH   SOLE   17,840 0 0
Illumina Inc. COM 452327109 986 6,018 SH   SOLE   6,018 0 0
Keurig Green Mountain Inc COM 49271M100 1,058 8,134 SH   SOLE   8,134 0 0
Lorillard, Inc. COM 544147101 597 9,971 SH   SOLE   9,971 0 0
Maxim Integrated Products COM 57772K101 625 20,675 SH   SOLE   20,675 0 0
McDonald's COM 580135101 619 6,532 SH   SOLE   6,532 0 0
Micron Technology COM 595112103 1,039 30,330 SH   SOLE   30,330 0 0
NXP Semiconductors NV COM N6596X109 1,038 15,175 SH   SOLE   15,175 0 0
Pfizer COM 717081103 631 21,337 SH   SOLE   21,337 0 0
Philip Morris International, I COM 718172109 589 7,059 SH   SOLE   7,059 0 0
SanDisk COM 80004C101 957 9,766 SH   SOLE   9,766 0 0
Walmart Stores COM 931142103 604 7,897 SH   SOLE   7,897 0 0
iShares Nasdaq Biotechnology ETF 464287556 6,834 24,975 SH   SOLE   24,975 0 0
iShares Nasdaq Biotechnology ETF 464287556 1,770 6,467 SH   DFND 1 6,467 0 0
Gastar Exploration COM 367299203 163 27,818 SH   SOLE   27,818 0 0
Imperial Petrolium Recovery COM 453079105 0 22,000 SH   SOLE   22,000 0 0
Vanguard FTSE Europe ETF ETF 922042874 22 405 SH   SOLE   405 0 0
Vanguard FTSE Europe ETF ETF 922042874 4,098 74,217 SH   DFND 1 74,217 0 0
iShares MSCI South Korea Index ETF 464286772 722 11,939 SH   SOLE   11,939 0 0
Grupo Aeroportuario del Pacifi ADR 400506101 593 8,793 SH   SOLE   8,793 0 0
Sanofi ADR 80105n105 610 10,815 SH   SOLE   10,815 0 0
Westpac Banking Corp ADR 961214301 525 18,660 SH   SOLE   18,660 0 0
PowerShares DB Oil ETF 73936B507 2,468 90,977 SH   DFND 1 90,977 0 0
SPDR Gold Shares ETF 78463V107 1,304 11,218 SH   SOLE   11,218 0 0
iShares Silver Trust ETF 46428Q109 1,454 88,931 SH   SOLE   88,931 0 0