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
BUNGE LIMITED COM G16962105 255 3,215 SH   DFND 1,2 3,215 0 0
ENSCO PLC SHS CLASS A G3157S106 76 8,447 SH   DFND 1,2 8,447 0 0
FRESH DEL MONTE PRODUCE INC ORD G36738105 70 1,175 SH   DFND 1,2 1,175 0 0
KOSMOS ENERGY LTD SHS G5315B107 35 5,241 SH   DFND 1,2 5,241 0 0
NABORS INDUSTRIES LTD SHS G6359F103 101 7,710 SH   DFND 1,2 7,710 0 0
NOBLE CORP PLC SHS USD G65431101 42 6,787 SH   DFND 1,2 6,787 0 0
ROWAN COMPANIES PLC SHS CL A G7665A101 54 3,454 SH   DFND 1,2 3,454 0 0
SEADRILL LIMITED SHS G7945E105 18 10,818 SH   DFND 1,2 10,818 0 0
PENTAIR PLC SHS G7S00T104 562 8,952 SH   DFND 1,2 8,952 0 0
ALLIED WRLD ASSUR COM HLDG A SHS H01531104 2,642 49,746 SH   DFND 1,2 49,746 0 0
ADECOAGRO S A COM L00849106 327 28,559 SH   DFND 1,2 28,559 0 0
NXP SEMICONDUCTORS N V COM N6596X109 12,823 123,892 SH   DFND 1,2 123,892 0 0
AGCO CORP COM 001084102 1,061 17,631 SH   DFND 1,2 17,631 0 0
AG MTG INVT TR INC COM 001228105 535 29,630 SH   DFND 1,2 29,630 0 0
ACADIA RLTY TR COM SH BEN INT 004239109 2,701 89,845 SH   DFND 1,2 89,845 0 0
ALCOA CORP COM 013872106 396 11,506 SH   DFND 1,2 11,506 0 0
ALON USA ENERGY INC COM 020520102 11 896 SH   DFND 1,2 896 0 0
ALON USA PARTNERS LP UT LTDPART INT 02052T109 3 317 SH   DFND 1,2 317 0 0
ALTISOURCE RESIDENTIAL CORP CL B 02153W100 762 49,965 SH   DFND 1,2 49,965 0 0
AMERICAN WTR WKS CO INC NEW COM 030420103 695 8,937 SH   DFND 1,2 8,937 0 0
ANADARKO PETE CORP COM 032511107 486 7,845 SH   DFND 1,2 7,845 0 0
ANWORTH MORTGAGE ASSET CP COM 037347101 565 101,888 SH   DFND 1,2 101,888 0 0
APOLLO COML REAL EST FIN INC COM 03762U105 1,853 98,487 SH   DFND 1,2 98,487 0 0
AQUA AMERICA INC COM 03836W103 291 9,049 SH   DFND 1,2 9,049 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 621 13,487 SH   DFND 1,2 13,487 0 0
ARES COML REAL ESTATE CORP COM 04013V108 371 27,755 SH   DFND 1,2 27,755 0 0
ARMOUR RESIDENTIAL REIT INC COM NEW 042315507 891 39,254 SH   DFND 1,2 39,254 0 0
ASHFORD HOSPITALITY PRIME IN COM 044102101 348 32,787 SH   DFND 1,2 32,787 0 0
ASHFORD HOSPITALITY TR INC COM SHS 044103109 561 88,006 SH   DFND 1,2 88,006 0 0
BAKER HUGHES INC COM 057224107 7,278 121,670 SH   DFND 1,2 121,670 0 0
BARCLAYS BK PLC DJUBS CMDT ETN36 06738C778 3 135 SH   DFND 1,2 135 0 0
BARCLAYS BK PLC IPATH S&P500 VIX 06740Q252 9,034 572,159 SH   DFND 1,2 572,159 0 0
BASIC ENERGY SVCS INC NEW COM NEW 06985P209 24 720 SH   DFND 1,2 720 0 0
B/E AEROSPACE INC COM 073302101 4,662 72,724 SH   DFND 1,2 72,724 0 0
BRANDYWINE RLTY TR SH BEN INT NEW 105368203 3,041 187,377 SH   DFND 1,2 187,377 0 0
BROCADE COMMUNICATIONS SYS I COM NEW 111621306 3,629 290,771 SH   DFND 1,2 290,771 0 0
CBL & ASSOC PPTYS INC COM 124830100 1,728 181,098 SH   DFND 1,2 181,098 0 0
CEB INC COM 125134106 730 9,287 SH   DFND 1,2 9,287 0 0
CST BRANDS INC COM 12646R105 4,135 85,995 SH   DFND 1,2 85,995 0 0
CVR ENERGY INC COM 12662P108 9 439 SH   DFND 1,2 439 0 0
CVR PARTNERS LP COM 126633106 72 15,572 SH   DFND 1,2 15,572 0 0
CVR REFNG LP COMUNIT REP LT 12663P107 38 3,981 SH   DFND 1,2 3,981 0 0
CABELAS INC COM 126804301 1,889 35,572 SH   DFND 1,2 35,572 0 0
CAL MAINE FOODS INC COM NEW 128030202 279 7,594 SH   DFND 1,2 7,594 0 0
CALIFORNIA RES CORP COM NEW 13057Q206 16 1,061 SH   DFND 1,2 1,061 0 0
CAPSTEAD MTG CORP COM NO PAR 14067E506 1,080 102,451 SH   DFND 1,2 102,451 0 0
CARE CAP PPTYS INC COM 141624106 2,432 90,497 SH   DFND 1,2 90,497 0 0
CARETRUST REIT INC COM 14174T107 1,188 70,620 SH   DFND 1,2 70,620 0 0
CEDAR REALTY TRUST INC COM NEW 150602209 444 88,527 SH   DFND 1,2 88,527 0 0
CHEMTURA CORP COM NEW 163893209 2,490 74,561 SH   DFND 1,2 74,561 0 0
CHESAPEAKE LODGING TR SH BEN INT 165240102 1,522 63,538 SH   DFND 1,2 63,538 0 0
CHEVRON CORP NEW COM 166764100 3,093 28,807 SH   DFND 1,2 28,807 0 0
CONAGRA BRANDS INC COM 205887102 395 9,792 SH   DFND 1,2 9,792 0 0
CONOCOPHILLIPS COM 20825C104 929 18,627 SH   DFND 1,2 18,627 0 0
CONSOL ENERGY INC COM 20854P109 390 23,243 SH   DFND 1,2 23,243 0 0
COUSINS PPTYS INC COM 222795106 3,718 449,541 SH   DFND 1,2 449,541 0 0
CURRENCYSHS BRIT POUND STER BRIT POUND STE 23129S106 312 2,502 SH   DFND 1,2 2,502 0 0
CURRENCYSHARES EURO TR EURO SHS 23130C108 910 8,796 SH   DFND 1,2 8,796 0 0
DBX ETF TR XTRAK MSCI JAPN 233051507 1,499 40,791 SH   DFND 1,2 40,791 0 0
DBX ETF TR DB XTRAKR MSCI 233051853 2,005 74,904 SH   DFND 1,2 74,904 0 0
DELEK US HLDGS INC COM 246647101 37 1,539 SH   DFND 1,2 1,539 0 0
DENBURY RES INC COM NEW 247916208 29 11,048 SH   DFND 1,2 11,048 0 0
DIAMOND OFFSHORE DRILLING IN COM 25271C102 30 1,797 SH   DFND 1,2 1,797 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 2,385 213,911 SH   DFND 1,2 213,911 0 0
DIGITALGLOBE INC COM NEW 25389M877 1,169 35,700 SH   DFND 1,2 35,700 0 0
DOMTAR CORP COM NEW 257559203 830 22,718 SH   DFND 1,2 22,718 0 0
DYNEX CAP INC COM NEW 26817Q506 355 50,050 SH   DFND 1,2 50,050 0 0
EOG RES INC COM 26875P101 853 8,743 SH   DFND 1,2 8,743 0 0
EP ENERGY CORP CL A 268785102 5 1,043 SH   DFND 1,2 1,043 0 0
EASTERLY GOVT PPTYS INC COM 27616P103 785 39,668 SH   DFND 1,2 39,668 0 0
EDUCATION RLTY TR INC COM NEW 28140H203 3,226 78,972 SH   DFND 1,2 78,972 0 0
EMPIRE ST RLTY TR INC CL A 292104106 3,478 168,488 SH   DFND 1,2 168,488 0 0
ENBRIDGE INC COM 29250N105 162 3,876 SH   DFND 1,2 3,876 0 0
ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 5,110 139,925 SH   DFND 1,2 139,925 0 0
EVERBANK FINL CORP COM 29977G102 589 30,236 SH   DFND 1,2 30,236 0 0
EXTRACTION OIL AND GAS INC COM 30227M105 33 1,770 SH   DFND 1,2 1,770 0 0
EXXON MOBIL CORP COM 30231G102 5,273 64,301 SH   DFND 1,2 64,301 0 0
FAIRMOUNT SANTROL HLDGS INC COM 30555Q108 31 4,281 SH   DFND 1,2 4,281 0 0
FELCOR LODGING TR INC COM 31430F101 1,951 259,821 SH   DFND 1,2 259,821 0 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 3,330 125,060 SH   DFND 1,2 125,060 0 0
FIRST POTOMAC RLTY TR COM 33610F109 634 61,677 SH   DFND 1,2 61,677 0 0
FLOWSERVE CORP COM 34354P105 315 6,506 SH   DFND 1,2 6,506 0 0
FORTRESS INVESTMENT GROUP LL CL A 34958B106 1,323 166,376 SH   DFND 1,2 166,376 0 0
FOUR CORNERS PPTY TR INC COM 35086T109 1,482 64,899 SH   DFND 1,2 64,899 0 0
FRANKLIN STREET PPTYS CORP COM 35471R106 1,363 112,270 SH   DFND 1,2 112,270 0 0
FREEPORT-MCMORAN INC CL B 35671D857 1,236 92,544 SH   DFND 1,2 92,544 0 0
GENERAL MLS INC COM 370334104 789 13,374 SH   DFND 1,2 13,374 0 0
GENWORTH FINL INC COM CL A 37247D106 1,758 426,775 SH   DFND 1,2 426,775 0 0
GLOBAL NET LEASE INC COM NEW 379378201 1,730 71,832 SH   DFND 1,2 71,832 0 0
GOVERNMENT PPTYS INCOME TR COM SHS BEN INT 38376A103 1,573 75,173 SH   DFND 1,2 75,173 0 0
GULFPORT ENERGY CORP COM NEW 402635304 62 3,604 SH   DFND 1,2 3,604 0 0
HAIN CELESTIAL GROUP INC COM 405217100 87 2,344 SH   DFND 1,2 2,344 0 0
HALCON RES CORP COM PAR NEW 40537Q605 12 1,566 SH   DFND 1,2 1,566 0 0
HALLIBURTON CO COM 406216101 634 12,890 SH   DFND 1,2 12,890 0 0
HEADWATERS INC COM 42210P102 2,750 117,113 SH   DFND 1,2 117,113 0 0
HECLA MNG CO COM 422704106 508 95,944 SH   DFND 1,2 95,944 0 0
HERSHA HOSPITALITY TR PR SHS BEN INT 427825500 825 43,889 SH   DFND 1,2 43,889 0 0
HORMEL FOODS CORP COM 440452100 11,245 324,714 SH   DFND 1,2 324,714 0 0
ISTAR INC COM 45031U101 881 74,652 SH   DFND 1,2 74,652 0 0
IXIA COM 45071R109 453 23,047 SH   DFND 1,2 23,047 0 0
IDEX CORP COM 45167R104 361 3,862 SH   DFND 1,2 3,862 0 0
INDEPENDENCE CONTRACT DRIL I COM 453415309 5 878 SH   DFND 1,2 878 0 0
INDEPENDENCE RLTY TR INC COM 45378A106 698 74,494 SH   DFND 1,2 74,494 0 0
INDEXIQ ETF TR HEDGE MLTI ETF 45409B107 412 14,229 SH   DFND 1,2 14,229 0 0
INFRAREIT INC COM 45685L100 677 37,610 SH   DFND 1,2 37,610 0 0
INGREDION INC COM 457187102 196 1,626 SH   DFND 1,2 1,626 0 0
INVENSENSE INC COM 46123D205 3,004 237,823 SH   DFND 1,2 237,823 0 0
INVESCO MORTGAGE CAPITAL INC COM 46131B100 1,860 120,650 SH   DFND 1,2 120,650 0 0
INVESTORS REAL ESTATE TR SH BEN INT 461730103 771 130,080 SH   DFND 1,2 130,080 0 0
ISHARES MSCI BRZ CAP ETF 464286400 16 423 SH   DFND 1,2 423 0 0
ISHARES MSCI EURZONE ETF 464286608 4,720 125,374 SH   DFND 1,2 125,374 0 0
ISHARES MSCI PAC JP ETF 464286665 110 2,478 SH   DFND 1,2 2,478 0 0
ISHARES TR TIPS BD ETF 464287176 28,050 244,657 SH   DFND 1,2 244,657 0 0
ISHARES TR CHINA LG-CAP ETF 464287184 872 22,638 SH   DFND 1,2 22,638 0 0
ISHARES TR CORE S&P500 ETF 464287200 603 2,540 SH   DFND 1,2 2,540 0 0
ISHARES TR CORE US AGGBD ET 464287226 27,526 253,716 SH   DFND 1,2 253,716 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 704 17,885 SH   DFND 1,2 17,885 0 0
ISHARES TR IBOXX INV CP ETF 464287242 302,117 2,562,275 SH   DFND 1,2 2,562,275 0 0
ISHARES TR S&P 500 GRWT ETF 464287309 15,001 114,054 SH   DFND 1,2 114,054 0 0
ISHARES TR S&P 500 VAL ETF 464287408 5,712 54,893 SH   DFND 1,2 54,893 0 0
ISHARES TR 20 YR TR BD ETF 464287432 116 957 SH   DFND 1,2 957 0 0
ISHARES TR 7-10YR TR BD ETF 464287440 4,410 41,771 SH   DFND 1,2 41,771 0 0
ISHARES TR 1-3 YR TR BD ETF 464287457 48,491 573,713 SH   DFND 1,2 573,713 0 0
ISHARES TR MSCI EAFE ETF 464287465 49,169 789,367 SH   DFND 1,2 789,367 0 0
ISHARES TR RUS 1000 VAL ETF 464287598 15,525 135,061 SH   DFND 1,2 135,061 0 0
ISHARES TR RUS 1000 GRW ETF 464287614 31,598 277,670 SH   DFND 1,2 277,670 0 0
ISHARES TR RUS 2000 GRW ETF 464287648 25,248 156,183 SH   DFND 1,2 156,183 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 1,826 13,278 SH   DFND 1,2 13,278 0 0
ISHARES TR U.S. REAL ES ETF 464287739 295 3,757 SH   DFND 1,2 3,757 0 0
ISHARES TR EUROPE ETF 464287861 1,388 33,173 SH   DFND 1,2 33,173 0 0
ISHARES TR SP SMCP600GR ETF 464287887 13,895 90,770 SH   DFND 1,2 90,770 0 0
ISHARES TR MSCI AC ASIA ETF 464288182 103 1,638 SH   DFND 1,2 1,638 0 0
ISHARES TR EAFE SML CP ETF 464288273 266 4,919 SH   DFND 1,2 4,919 0 0
ISHARES TR JP MOR EM MK ETF 464288281 6,865 60,377 SH   DFND 1,2 60,377 0 0
ISHARES TR IBOXX HI YD ETF 464288513 29,322 334,052 SH   DFND 1,2 334,052 0 0
ISHARES TR MBS ETF 464288588 6,672 62,621 SH   DFND 1,2 62,621 0 0
ISHARES TR US CREDIT BD ETF 464288620 8,524 77,546 SH   DFND 1,2 77,546 0 0
ISHARES TR 10-20 YR TRS ETF 464288653 12 87 SH   DFND 1,2 87 0 0
ISHARES TR 3-7 YR TR BD ETF 464288661 3,118 25,335 SH   DFND 1,2 25,335 0 0
ISHARES TR SHRT TRS BD ETF 464288679 52,748 478,043 SH   DFND 1,2 478,043 0 0
ISHARES TR U.S. PFD STK ETF 464288687 17,044 440,422 SH   DFND 1,2 440,422 0 0
ISHARES INDIA 50 ETF 464289529 369 11,439 SH   DFND 1,2 11,439 0 0
ISHARES SILVER TRUST ISHARES 46428Q109 4,397 254,898 SH   DFND 1,2 254,898 0 0
ISHARES TR MSCI INDIA ETF 46429B598 1,947 61,806 SH   DFND 1,2 61,806 0 0
ISHARES TR FLTG RATE BD ETF 46429B655 1,762 36,749 SH   DFND 1,2 36,749 0 0
ISHARES TR CHINA ETF 46429B671 647 12,947 SH   DFND 1,2 12,947 0 0
ISHARES TR MIN VOL USA ETF 46429B697 438 8,613 SH   DFND 1,2 8,613 0 0
ISHARES TR 0-5 YR TIPS ETF 46429B747 430 4,246 SH   DFND 1,2 4,246 0 0
ISHARES TR CORE MSCI EAFE 46432F842 1,166 20,120 SH   DFND 1,2 20,120 0 0
ISHARES INC CORE MSCI EMKT 46434G103 592 12,388 SH   DFND 1,2 12,388 0 0
ISHARES INC MSCI RUS ETF NEW 46434G798 1 22 SH   DFND 1,2 22 0 0
ISHARES INC MSCI JPN ETF NEW 46434G822 36,916 716,817 SH   DFND 1,2 716,817 0 0
JPMORGAN CHASE & CO ALERIAN ML ETN 46625H365 2,399 74,236 SH   DFND 1,2 74,236 0 0
JAGGED PEAK ENERGY INC COM 47009K107 11 839 SH   DFND 1,2 839 0 0
JANUS CAP GROUP INC COM 47102X105 609 46,165 SH   DFND 1,2 46,165 0 0
JOY GLOBAL INC COM 481165108 3,573 126,462 SH   DFND 1,2 126,462 0 0
KAPSTONE PAPER & PACKAGING C COM 48562P103 861 37,283 SH   DFND 1,2 37,283 0 0
KEANE GROUP INC COM 48669A108 12 864 SH   DFND 1,2 864 0 0
KELLOGG CO COM 487836108 580 7,983 SH   DFND 1,2 7,983 0 0
KENNEDY-WILSON HLDGS INC COM 489398107 2,269 102,215 SH   DFND 1,2 102,215 0 0
KINDER MORGAN INC DEL COM 49456B101 734 33,760 SH   DFND 1,2 33,760 0 0
KITE RLTY GROUP TR COM NEW 49803T300 1,940 90,236 SH   DFND 1,2 90,236 0 0
LATTICE SEMICONDUCTOR CORP COM 518415104 802 115,953 SH   DFND 1,2 115,953 0 0
LEGACY RESVS LP UNIT LP INT 524707304 4 1,796 SH   DFND 1,2 1,796 0 0
LEVEL 3 COMMUNICATIONS INC COM NEW 52729N308 4,699 82,115 SH   DFND 1,2 82,115 0 0
LEXINGTON REALTY TRUST COM 529043101 2,017 202,132 SH   DFND 1,2 202,132 0 0
LOUISIANA PAC CORP COM 546347105 1,338 53,895 SH   DFND 1,2 53,895 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 1,688 62,394 SH   DFND 1,2 62,394 0 0
MTGE INVT CORP COM 55378A105 820 48,928 SH   DFND 1,2 48,928 0 0
MACK CALI RLTY CORP COM 554489104 2,363 87,722 SH   DFND 1,2 87,722 0 0
MAMMOTH ENERGY SVCS INC COM 56155L108 4 208 SH   DFND 1,2 208 0 0
MARATHON PETE CORP COM 56585A102 404 7,992 SH   DFND 1,2 7,992 0 0
MEAD JOHNSON NUTRITION CO COM 582839106 9,500 106,643 SH   DFND 1,2 106,643 0 0
MEDEQUITIES RLTY TR INC COM 58409L306 327 29,210 SH   DFND 1,2 29,210 0 0
MONMOUTH REAL ESTATE INVT CO CL A 609720107 1,013 70,994 SH   DFND 1,2 70,994 0 0
MONOGRAM RESIDENTIAL TR INC COM 60979P105 1,792 179,788 SH   DFND 1,2 179,788 0 0
MONSANTO CO NEW COM 61166W101 9,939 87,796 SH   DFND 1,2 87,796 0 0
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106 1,108 46,371 SH   DFND 1,2 46,371 0 0
NEUSTAR INC CL A 64126X201 1,857 56,016 SH   DFND 1,2 56,016 0 0
NEW SR INVT GROUP INC COM 648691103 888 87,087 SH   DFND 1,2 87,087 0 0
NEW YORK MTG TR INC COM PAR $.02 649604501 738 119,680 SH   DFND 1,2 119,680 0 0
NEWMONT MINING CORP COM 651639106 4,387 133,103 SH   DFND 1,2 133,103 0 0
NOW INC COM 67011P100 50 2,968 SH   DFND 1,2 2,968 0 0
OASIS PETE INC NEW COM 674215108 93 6,509 SH   DFND 1,2 6,509 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 735 11,608 SH   DFND 1,2 11,608 0 0
OCEANEERING INTL INC COM 675232102 74 2,721 SH   DFND 1,2 2,721 0 0
OIL STS INTL INC COM 678026105 47 1,410 SH   DFND 1,2 1,410 0 0
ONEOK PARTNERS LP UNIT LTD PARTN 68268N103 1,796 33,273 SH   DFND 1,2 33,273 0 0
ORCHID IS CAP INC COM 68571X103 339 33,942 SH   DFND 1,2 33,942 0 0
PBF ENERGY INC CL A 69318G106 67 3,041 SH   DFND 1,2 3,041 0 0
PAR PACIFIC HOLDINGS INC COM NEW 69888T207 15 891 SH   DFND 1,2 891 0 0
PARKWAY INC COM 70156Q107 913 45,878 SH   DFND 1,2 45,878 0 0
PEBBLEBROOK HOTEL TR COM 70509V100 2,245 76,864 SH   DFND 1,2 76,864 0 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 1,109 73,269 SH   DFND 1,2 73,269 0 0
PENNYMAC MTG INVT TR COM 70931T103 1,228 69,155 SH   DFND 1,2 69,155 0 0
PHILLIPS 66 COM 718546104 645 8,142 SH   DFND 1,2 8,142 0 0
PHYSICIANS RLTY TR COM 71943U104 2,906 146,231 SH   DFND 1,2 146,231 0 0
PILGRIMS PRIDE CORP NEW COM 72147K108 3,364 149,485 SH   DFND 1,2 149,485 0 0
PIMCO ETF TR 1-5 US TIP IDX 72201R205 408 7,741 SH   DFND 1,2 7,741 0 0
PIMCO ETF TR ENHAN SHRT MA AC 72201R833 7,101 69,859 SH   DFND 1,2 69,859 0 0
PIONEER ENERGY SVCS CORP COM 723664108 8 2,115 SH   DFND 1,2 2,115 0 0
PIONEER NAT RES CO COM 723787107 462 2,480 SH   DFND 1,2 2,480 0 0
PLATFORM SPECIALTY PRODS COR COM 72766Q105 666 51,182 SH   DFND 1,2 51,182 0 0
POST HLDGS INC COM 737446104 130 1,481 SH   DFND 1,2 1,481 0 0
POWERSHARES DB CMDTY IDX TRA UNIT BEN INT 73935S105 63 4,118 SH   DFND 1,2 4,118 0 0
POWERSHARES DB G10 CURCY HAR COM UT BEN INT 73935Y102 271 10,722 SH   DFND 1,2 10,722 0 0
POWERSHS DB MULTI SECT COMM DB GOLD FUND 73936B606 71 1,730 SH   DFND 1,2 1,730 0 0
POWERSHS DB US DOLLAR INDEX DOLL INDX BULL 73936D107 2,165 83,879 SH   DFND 1,2 83,879 0 0
POWERSHARES ETF TRUST II SENIOR LN PORT 73936Q769 51,794 2,226,761 SH   DFND 1,2 2,226,761 0 0
POWERSHARES ETF TR II SOVEREIGN DEBT 73936T573 5,194 178,726 SH   DFND 1,2 178,726 0 0
POWERSHARES ETF TR II KBW BK PORT 73937B746 73 1,584 SH   DFND 1,2 1,584 0 0
POWERSHARES ETF TR II S&P500 LOW VOL 73937B779 221 5,066 SH   DFND 1,2 5,066 0 0
PROSHARES TR ULTSHT FINLS NEW 74347B748 145 4,984 SH   DFND 1,2 4,984 0 0
PROSHARES TR PSHS SH MSCI EMR 74347R396 337 15,453 SH   DFND 1,2 15,453 0 0
PROSHARES TR II ULTRASHRT NEW 74347W395 25 355 SH   DFND 1,2 355 0 0
PROSHARES TR II ULTRASHORT YEN N 74347W569 210 3,009 SH   DFND 1,2 3,009 0 0
PROSHARES TR II ULTRASHRT EURO 74347W882 157 6,158 SH   DFND 1,2 6,158 0 0
PROSHARES TR ULTSHT REAL EST 74348A244 108 3,433 SH   DFND 1,2 3,433 0 0
PROSHARES TR ULTSHT RUSS2000 74348A319 250 11,156 SH   DFND 1,2 11,156 0 0
QTS RLTY TR INC COM CL A 74736A103 2,096 43,005 SH   DFND 1,2 43,005 0 0
QUALITY CARE PPTYS INC COM 747545101 1,915 101,556 SH   DFND 1,2 101,556 0 0
RAIT FINANCIAL TRUST COM NEW 749227609 313 97,731 SH   DFND 1,2 97,731 0 0
RPC INC COM 749660106 31 1,696 SH   DFND 1,2 1,696 0 0
RAMCO-GERSHENSON PPTYS TR COM SH BEN INT 751452202 1,183 84,371 SH   DFND 1,2 84,371 0 0
REDWOOD TR INC COM 758075402 1,354 81,507 SH   DFND 1,2 81,507 0 0
RESOLUTE ENERGY CORP COM NEW 76116A306 21 510 SH   DFND 1,2 510 0 0
RESOURCE CAP CORP COM NEW 76120W708 307 31,379 SH   DFND 1,2 31,379 0 0
RETAIL OPPORTUNITY INVTS COR COM 76131N101 2,445 116,276 SH   DFND 1,2 116,276 0 0
REXFORD INDL RLTY INC COM 76169C100 1,616 71,749 SH   DFND 1,2 71,749 0 0
REYNOLDS AMERICAN INC COM 761713106 10,345 164,150 SH   DFND 1,2 164,150 0 0
ROYAL GOLD INC COM 780287108 1,150 16,417 SH   DFND 1,2 16,417 0 0
RYDEX ETF TRUST GUG S&P500 PU VA 78355W304 423 7,172 SH   DFND 1,2 7,172 0 0
RYDEX ETF TRUST GUG S&P500 PU GR 78355W403 1,788 19,942 SH   DFND 1,2 19,942 0 0
SM ENERGY CO COM 78454L100 74 3,093 SH   DFND 1,2 3,093 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 1,480 6,277 SH   DFND 1,2 6,277 0 0
SPDR INDEX SHS FDS S&P CHINA ETF 78463X400 255 3,111 SH   DFND 1,2 3,111 0 0
SPDR INDEX SHS FDS S&P EMKTSC ETF 78463X756 1,338 29,468 SH   DFND 1,2 29,468 0 0
SPDR INDEX SHS FDS DJ INTL RL ETF 78463X863 91 2,432 SH   DFND 1,2 2,432 0 0
SPDR INDEX SHS FDS S&P INTL SMLCP 78463X871 29 919 SH   DFND 1,2 919 0 0
SPDR SERIES TRUST BLMBRG BRC CNVRT 78464A359 122,054 2,537,506 SH   DFND 1,2 2,537,506 0 0
SPDR SERIES TRUST BLOMBRG BRC MRTG 78464A383 7,641 290,300 SH   DFND 1,2 290,300 0 0
SPDR SERIES TRUST BLOOMBERG BRCLYS 78464A417 33,632 910,693 SH   DFND 1,2 910,693 0 0
SPDR SERIES TRUST DJ REIT ETF 78464A607 228 2,475 SH   DFND 1,2 2,475 0 0
SPDR SERIES TRUST BLOMBRG BRC AGRT 78464A649 747 13,060 SH   DFND 1,2 13,060 0 0
SPDR SERIES TRUST BLOOMBERG LNG TR 78464A664 193 2,767 SH   DFND 1,2 2,767 0 0
SPDR SERIES TRUST BLMBRG BR 1 3 MT 78464A680 21,484 470,045 SH   DFND 1,2 470,045 0 0
SPDR SERIES TRUST S&P BK ETF 78464A797 288 6,800 SH   DFND 1,2 6,800 0 0
SSGA ACTIVE ETF TR BLKSTN GSOSRLN 78467V608 8,235 173,224 SH   DFND 1,2 173,224 0 0
SRC ENERGY INC COM 78470V108 45 5,320 SH   DFND 1,2 5,320 0 0
SABRA HEALTH CARE REIT INC COM 78573L106 1,922 68,817 SH   DFND 1,2 68,817 0 0
SANCHEZ ENERGY CORP COM 79970Y105 18 1,883 SH   DFND 1,2 1,883 0 0
SANDERSON FARMS INC COM 800013104 1,943 18,713 SH   DFND 1,2 18,713 0 0
SCHLUMBERGER LTD COM 806857108 1,483 18,992 SH   DFND 1,2 18,992 0 0
SCHWAB STRATEGIC TR US BRD MKT ETF 808524102 194 3,405 SH   DFND 1,2 3,405 0 0
SCHWAB STRATEGIC TR INTRM TRM TRES 808524854 254 4,729 SH   DFND 1,2 4,729 0 0
SCHWAB STRATEGIC TR SHT TM US TRES 808524862 53,088 1,052,074 SH   DFND 1,2 1,052,074 0 0
SEABOARD CORP COM 811543107 2,802 672 SH   DFND 1,2 672 0 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100 1,095 20,904 SH   DFND 1,2 20,904 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 5,496 73,897 SH   DFND 1,2 73,897 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 74 1,361 SH   DFND 1,2 1,361 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 1,220 13,866 SH   DFND 1,2 13,866 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 470 6,714 SH   DFND 1,2 6,714 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 36,537 1,539,713 SH   DFND 1,2 1,539,713 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 73 1,124 SH   DFND 1,2 1,124 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 40,018 750,672 SH   DFND 1,2 750,672 0 0
SELECT SECTOR SPDR TR RL EST SEL SEC 81369Y860 24 749 SH   DFND 1,2 749 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 24 471 SH   DFND 1,2 471 0 0
SEMGROUP CORP CL A 81663A105 66 1,839 SH   DFND 1,2 1,839 0 0
SERITAGE GROWTH PPTYS CL A 81752R100 1,163 26,943 SH   DFND 1,2 26,943 0 0
SHELL MIDSTREAM PARTNERS L P UNIT LTD INT 822634101 80 2,478 SH   DFND 1,2 2,478 0 0
SILVER BAY RLTY TR CORP COM 82735Q102 746 34,740 SH   DFND 1,2 34,740 0 0
SMUCKER J M CO COM NEW 832696405 357 2,721 SH   DFND 1,2 2,721 0 0
SOUTHERN COPPER CORP COM 84265V105 2,136 59,503 SH   DFND 1,2 59,503 0 0
STAG INDL INC COM 85254J102 2,221 88,754 SH   DFND 1,2 88,754 0 0
STILLWATER MNG CO COM 86074Q102 3,026 175,211 SH   DFND 1,2 175,211 0 0
SUMMIT HOTEL PPTYS COM 866082100 1,593 99,703 SH   DFND 1,2 99,703 0 0
SUPERIOR ENERGY SVCS INC COM 868157108 60 4,214 SH   DFND 1,2 4,214 0 0
TALLGRASS ENERGY PARTNERS LP COM UNIT 874697105 68 1,284 SH   DFND 1,2 1,284 0 0
TESCO CORP COM 88157K101 10 1,206 SH   DFND 1,2 1,206 0 0
TESORO LOGISTICS LP COM UNIT LP 88160T107 113 2,070 SH   DFND 1,2 2,070 0 0
TIER REIT INC COM NEW 88650V208 889 51,196 SH   DFND 1,2 51,196 0 0
TIME WARNER INC COM NEW 887317303 12,187 124,726 SH   DFND 1,2 124,726 0 0
TITAN INTL INC ILL COM 88830M102 121 11,657 SH   DFND 1,2 11,657 0 0
TYSON FOODS INC CL A 902494103 13,580 220,069 SH   DFND 1,2 220,069 0 0
UNITEDHEALTH GROUP INC COM 91324P102 0 1 SH   DFND 1,2 1 0 0
VCA INC COM 918194101 3,146 34,387 SH   DFND 1,2 34,387 0 0
VALERO ENERGY CORP NEW COM 91913Y100 486 7,335 SH   DFND 1,2 7,335 0 0
VALSPAR CORP COM 920355104 6,831 61,573 SH   DFND 1,2 61,573 0 0
VANECK VECTORS ETF TR HIGH YLD MUN ETF 92189F361 180 5,840 SH   DFND 1,2 5,840 0 0
VANECK VECTORS ETF TR RUSSIA ETF 92189F403 4 210 SH   DFND 1,2 210 0 0
VANECK VECTORS ETF TR JP MORGAN MKTS 92189F494 925 49,998 SH   DFND 1,2 49,998 0 0
VANGUARD BD INDEX FD INC SHORT TRM BOND 921937827 221,316 2,776,173 SH   DFND 1,2 2,776,173 0 0
VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 20,983 258,779 SH   DFND 1,2 258,779 0 0
VANGUARD TAX MANAGED INTL FD FTSE DEV MKT ETF 921943858 33,883 862,159 SH   DFND 1,2 862,159 0 0
VANGUARD MALVERN FDS STRM INFPROIDX 922020805 1,213 24,506 SH   DFND 1,2 24,506 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 1,218 30,663 SH   DFND 1,2 30,663 0 0
VANGUARD INTL EQUITY INDEX F FTSE PACIFIC ETF 922042866 161 2,554 SH   DFND 1,2 2,554 0 0
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 6,485 125,759 SH   DFND 1,2 125,759 0 0
VANGUARD WORLD FDS CONSUM DIS ETF 92204A108 196 1,418 SH   DFND 1,2 1,418 0 0
VANGUARD WORLD FDS FINANCIALS ETF 92204A405 91 1,500 SH   DFND 1,2 1,500 0 0
VANGUARD WORLD FDS HEALTH CAR ETF 92204A504 569 4,126 SH   DFND 1,2 4,126 0 0
VANGUARD WORLD FDS INF TECH ETF 92204A702 953 7,023 SH   DFND 1,2 7,023 0 0
VANGUARD WORLD FDS MATERIALS ETF 92204A801 263 2,213 SH   DFND 1,2 2,213 0 0
VANGUARD WORLD FDS TELCOMM ETF 92204A884 20 208 SH   DFND 1,2 208 0 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 3,841 48,044 SH   DFND 1,2 48,044 0 0
VANGUARD SCOTTSDALE FDS VNG RUS2000IDX 92206C664 29 266 SH   DFND 1,2 266 0 0
VANGUARD SCOTTSDALE FDS INT-TERM GOV 92206C706 217 3,372 SH   DFND 1,2 3,372 0 0
VANGUARD SCOTTSDALE FDS MORTG-BACK SEC 92206C771 22,407 426,649 SH   DFND 1,2 426,649 0 0
VANGUARD SCOTTSDALE FDS LONG-TERM GOV 92206C847 276 3,695 SH   DFND 1,2 3,695 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 63,566 735,891 SH   DFND 1,2 735,891 0 0
VANGUARD INDEX FDS REIT ETF 922908553 2,452 29,692 SH   DFND 1,2 29,692 0 0
VANGUARD INDEX FDS SML CP GRW ETF 922908595 18,759 133,358 SH   DFND 1,2 133,358 0 0
VANGUARD INDEX FDS GROWTH ETF 922908736 23,096 189,849 SH   DFND 1,2 189,849 0 0
VANGUARD INDEX FDS VALUE ETF 922908744 12,444 130,483 SH   DFND 1,2 130,483 0 0
VANGUARD INDEX FDS TOTAL STK MKT 922908769 1,576 13,043 SH   DFND 1,2 13,043 0 0
WGL HLDGS INC COM 92924F106 1,245 15,085 SH   DFND 1,2 15,085 0 0
WASHINGTON PRIME GROUP NEW COM 93964W108 1,735 199,709 SH   DFND 1,2 199,709 0 0
WASHINGTON REAL ESTATE INVT SH BEN INT 939653101 2,514 80,370 SH   DFND 1,2 80,370 0 0
WESTAR ENERGY INC COM 95709T100 2,160 39,795 SH   DFND 1,2 39,795 0 0
WESTERN ASSET MTG CAP CORP COM 95790D105 428 43,846 SH   DFND 1,2 43,846 0 0
WESTERN REFNG INC COM 959319104 2,810 80,131 SH   DFND 1,2 80,131 0 0
WHITEWAVE FOODS CO COM 966244105 5,288 94,184 SH   DFND 1,2 94,184 0 0
WILLIAMS COS INC DEL COM 969457100 332 11,232 SH   DFND 1,2 11,232 0 0
WILLIAMS CLAYTON ENERGY INC COM 969490101 422 3,193 SH   DFND 1,2 3,193 0 0
WISDOMTREE TR INTL SMCAP DIV 97717W760 47 724 SH   DFND 1,2 724 0 0
WISDOMTREE TR EM LCL DEBT FD 97717X867 90 2,386 SH   DFND 1,2 2,386 0 0
XENIA HOTELS & RESORTS INC COM 984017103 1,978 115,877 SH   DFND 1,2 115,877 0 0
XYLEM INC COM 98419M100 447 8,906 SH   DFND 1,2 8,906 0 0
ZELTIQ AESTHETICS INC COM 98933Q108 3,944 70,930 SH   DFND 1,2 70,930 0 0