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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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
3M Co COM 88579Y101 3,416 17,856 SH   SOLE   0 0 17,856
Aetna Inc COM 00817Y108 1,550 12,150 SH   SOLE   0 0 12,150
Alexandria Real COM 015271109 204 1,850 SH   DFND   1,850 0 0
Allstate Corp COM 020002101 2,057 25,241 SH   SOLE   0 0 25,241
American Tower-A COM 03027X100 304 2,500 SH   DFND   2,500 0 0
Amgen Inc COM 031162100 2,968 18,087 SH   SOLE   0 0 18,087
Annaly Capital Management COM 035710409 150 13,500 SH   DFND   13,500 0 0
Artesian Resource Corp COM 043113208 2,656 81,564 SH   SOLE   0 0 81,564
Astrazeneca-Adr ADR 046353108 249 8,000 SH   DFND   8,000 0 0
Avalonbay Communities COM 053484101 247 1,347 SH   DFND   1,347 0 0
Bank Of America Corporation COM 060505104 424 17,988 SH   SOLE   0 0 17,988
Blackrock Intern L Grth & Inc Common COM 092524107 2,573 444,403 SH   SOLE   0 0 444,403
Blackrock Muniyield Qty Iii COM 09254E103 1,094 78,542 SH   SOLE   0 0 78,542
Blue Capital Reisurance COM G1190F107 270 14,000 SH   DFND   14,000 0 0
Bok Financial Corp COM 05561Q201 294 3,751 SH   SOLE   0 0 3,751
Boston Properties COM 101121101 324 2,450 SH   DFND   2,450 0 0
Bp Plc-Adr ADR 055622104 282 8,181 SH   DFND   8,181 0 0
Briggs & Strattn COM 109043109 225 10,000 SH   DFND   10,000 0 0
Brookfield Canada Office COM 112823109 234 10,000 SH   DFND   10,000 0 0
Cemex Sab-Sp Adr ADR 151290889 251 27,669 SH   DFND   27,669 0 0
Chase Corp COM 16150R104 5,813 60,932 SH   SOLE   0 0 60,932
Chevron Corp COM 166764100 268 2,500 SH   DFND   2,500 0 0
Cimarex Energy Co COM 171798101 3,286 27,502 SH   SOLE   0 0 27,502
Coca-Cola Co COM 191216100 351 8,266 SH   SOLE   0 0 8,266
Compania Cervecerias -Adr ADR 204429104 364 14,401 SH   DFND   14,401 0 0
Consumer Discret Sel Sect Spdr Etf COM 81369Y407 3,508 39,883 SH   SOLE   0 0 39,883
Consumer Staples Select Sector Spdr Etf COM 81369Y308 3,494 64,012 SH   SOLE   0 0 64,012
Csx Corp COM 126408103 3,242 69,650 SH   SOLE   0 0 69,650
Cvs Health Corp COM 126650100 1,191 15,166 SH   SOLE   0 0 15,166
Dentsply Sirona Inc COM 24906P109 312 5,000 SH   DFND   5,000 0 0
Diageo Plc-Adr ADR 25243Q205 324 2,800 SH   DFND   2,800 0 0
Eastgroup Prop COM 277276101 221 3,000 SH   DFND   3,000 0 0
Energy Select Sector Spdr Etf COM 81369Y506 3,054 43,690 SH   SOLE   0 0 43,690
Enterprise Products Partners LP COM 293792107 2,071 75,001 SH   SOLE   0 0 75,001
Essex Property COM 297178105 208 900 SH   DFND   900 0 0
Everest Re Group Ltd COM G3223R108 2,891 12,365 SH   SOLE   0 0 12,365
Extra Space Stor COM 30225T102 379 5,100 SH   DFND   5,100 0 0
Exxon Mobil Corporation COM 30231G102 2,505 30,542 SH   SOLE   0 0 30,542
Flowers Foods Inc COM 343498101 1,495 77,040 SH   SOLE   0 0 77,040
Georgetown Bancorp, Inc. COM 372591107 259 10,002 SH   DFND   10,002 0 0
Glaxosmithkl-Adr ADR 37733W105 274 6,500 SH   DFND   6,500 0 0
Goldman Sachs Activebeta Intl Eq Etf COM 381430107 3,617 138,230 SH   SOLE   0 0 138,230
Grupo Aeroportuario - Adr ADR 40051E202 225 1,300 SH   DFND   1,300 0 0
Grupo Televisa - Adr ADR 40049J206 389 15,000 SH   DFND   15,000 0 0
Guggenheim Bulletshrs2018 Corp Bd Etf COM 18383M530 528 24,854 SH   SOLE   0 0 24,854
Guggenheim Bulletshrs2018 Hy Corpbd Etf COM 18383M381 4,840 191,065 SH   SOLE   0 0 191,065
Guggenheim Bulletshrs2019 Corp Bd Etf COM 18383M522 3,826 180,209 SH   SOLE   0 0 180,209
Guggenheim Bulletshrs2020 Corp Bd Etf COM 18383M514 515 24,063 SH   SOLE   0 0 24,063
Guggenheim Bulletshrs2021 Corp Bd Etf COM 18383M266 3,757 177,625 SH   SOLE   0 0 177,625
Guggenheim S&P 500 Eq Weight Hc Etf COM 78355W841 3,708 23,183 SH   SOLE   0 0 23,183
Guggenheim S&P 500 Equal Weight Etf COM 78355W106 2,069 22,780 SH   SOLE   0 0 22,780
Halliburton Co COM 406216101 295 6,000 SH   DFND   6,000 0 0
Hdfc Bank Ltd - Adr ADR 40415F101 301 4,000 SH   DFND   4,000 0 0
Ingles Markets Inc COM 457030104 3,719 86,178 SH   SOLE   0 0 86,178
Inseego Corp COM 45782B104 25 12,000 SH   SOLE   0 0 12,000
Intercontinental Hotels COM 45857P608 221 4,511 SH   DFND   4,511 0 0
International Business Machines Corp COM 459200101 247 1,417 SH   SOLE   0 0 1,417
Invesco Muni Opps. Trust Common COM 46132C107 1,145 88,177 SH   SOLE   0 0 88,177
Ishares Cali Amt-Free Muni Bond COM 464288356 481 4,138 SH   SOLE   0 0 4,138
Ishares Cohen & Steers Reit COM 464287564 3,126 31,336 SH   SOLE   0 0 31,336
Ishares Core S&P Mid-Cap COM 464287507 3,628 21,187 SH   SOLE   0 0 21,187
Ishares Core Us Aggregate Bond COM 464287226 523 4,824 SH   SOLE   0 0 4,824
Ishares Floating Rate Bond COM 46429B655 4,955 97,411 SH   SOLE   0 0 97,411
Ishares Global Healthcare COM 464287325 2,943 28,633 SH   SOLE   0 0 28,633
Ishares Iboxx $ Invst Grade Crp Bond COM 464287242 382 3,241 SH   SOLE   0 0 3,241
Ishares Mbs COM 464288588 364 3,417 SH   SOLE   0 0 3,417
Ishares Msci Eafe COM 464287465 2,031 32,599 SH   SOLE   0 0 32,599
Ishares Msci Eafe Small-Cap COM 464288273 3,366 62,179 SH   SOLE   0 0 62,179
Ishares Msci Emu COM 464286608 2,798 74,427 SH   SOLE   0 0 74,427
Ishares Msci Uk Etf COM 46435G334 244 7,500 SH   DFND   7,500 0 0
Ishares National Amt-Free Muni Bond COM 464288414 1,257 11,536 SH   SOLE   0 0 11,536
Ishares Russell 1000 COM 464287622 1,352 10,297 SH   SOLE   0 0 10,297
Ishares Russell 2000 COM 464287655 1,369 9,957 SH   SOLE   0 0 9,957
Ishares Russell Mid-Cap COM 464287499 1,355 7,242 SH   SOLE   0 0 7,242
Ishares Select Dividend COM 464287168 3,331 36,565 SH   SOLE   0 0 36,565
James Hardie Ind Plc Adr ADR 47030M106 395 25,000 SH   DFND   25,000 0 0
Jh Financial Opportunities Common COM 409735206 3,635 106,909 SH   SOLE   0 0 106,909
Johnson & Johnson COM 478160104 2,582 20,731 SH   SOLE   0 0 20,731
Kvh Industries COM 482738101 252 30,000 SH   DFND   30,000 0 0
Lennox Intl Inc COM 526107107 284 1,700 SH   DFND   1,700 0 0
Lifepoint Hospit COM 53219L109 328 5,000 SH   DFND   5,000 0 0
Lowe S Companies Inc COM 548661107 3,235 39,352 SH   SOLE   0 0 39,352
Lowe'S Cos Inc COM 548661107 214 2,600 SH   DFND   2,600 0 0
Luby'S Inc COM 549282101 103 32,994 SH   DFND   32,994 0 0
Maiden Holdings Ltd COM G5753U112 280 20,000 SH   DFND   20,000 0 0
Market Vectors Africa COM 92189F866 216 10,340 SH   DFND   10,340 0 0
Metlife Inc COM 59156R108 1,855 35,118 SH   SOLE   0 0 35,118
Miller Ind Inc/Tenn COM 600551204 474 18,000 SH   DFND   18,000 0 0
National Western Life Insurance COM 638517102 3,313 10,893 SH   SOLE   0 0 10,893
Netapp Inc COM 64110D104 377 9,000 SH   DFND   9,000 0 0
Nice Systems-Adr ADR 653656108 374 5,500 SH   DFND   5,500 0 0
Nobilis Health Corp. COM 65500B103 26 15,400 SH   DFND   15,400 0 0
Norfolk Southern COM 655844108 392 3,500 SH   DFND   3,500 0 0
Northwestern Corp COM 668074305 2,220 37,823 SH   SOLE   0 0 37,823
Novartis Ag ADR 66987V109 1,821 24,523 SH   SOLE   0 0 24,523
Nuveen Intermediate Duration Muni Term COM 670671106 1,543 118,972 SH   SOLE   0 0 118,972
Pearson Plc ADR 705015105 127 15,000 SH   DFND   15,000 0 0
Pimco Enhanced Short Maturity Etf COM 72201R833 5,054 49,719 SH   SOLE   0 0 49,719
Powershares International Corp Bd Etf COM 73936Q835 3,628 145,240 SH   SOLE   0 0 145,240
Procter & Gamble COM 742718109 314 3,500 SH   DFND   3,500 0 0
Pub Serv Enterp COM 744573106 355 8,000 SH   DFND   8,000 0 0
Qualcomm Inc COM 747525103 276 4,817 SH   SOLE   0 0 4,817
Regions Financial Corp COM 7591EP100 262 18,000 SH   DFND   18,000 0 0
Rgc Resources COM 74955L103 779 35,415 SH   SOLE   0 0 35,415
Royce Micro Cap Trust Common COM 780915104 2,742 326,842 SH   SOLE   0 0 326,842
Royce Value Trust Common COM 780910105 259 18,491 SH   SOLE   0 0 18,491
Sba Communications Corp COM 78410G104 241 2,000 SH   DFND   2,000 0 0
Schwab Emerging Markets Equity Etf COM 808524706 226 9,437 SH   SOLE   0 0 9,437
Schwab International Equity Etf COM 808524805 910 30,469 SH   SOLE   0 0 30,469
Schwab Us Aggregate Bond Etf COM 808524839 2,072 40,002 SH   SOLE   0 0 40,002
Schwab Us Mid-Cap Etf COM 808524508 1,040 21,977 SH   SOLE   0 0 21,977
Schwab Us Small-Cap Etf COM 808524607 1,025 16,269 SH   SOLE   0 0 16,269
Skyworks Solutions COM 83088M102 392 4,000 SH   DFND   4,000 0 0
Sl Green Realty COM 78440X101 290 2,720 SH   DFND   2,720 0 0
Southern Co COM 842587107 2,494 50,107 SH   SOLE   0 0 50,107
Spdr Barclays Short Term Corp Bd Etf COM 78464A474 5,072 165,712 SH   SOLE   0 0 165,712
Spdr S&P Midcap 400 Etf COM 78467Y107 445 1,423 SH   SOLE   0 0 1,423
Stryker Corporation COM 863667101 2,439 18,530 SH   SOLE   0 0 18,530
Texas Instruments Inc COM 882508104 201 2,500 SH   SOLE   0 0 2,500
Thermo Fisher COM 883556102 307 2,000 SH   DFND   2,000 0 0
Twenty-First Century Fox Inc COM 90130A101 447 13,788 SH   SOLE   0 0 13,788
Tyson Foods Inc COM 902494103 1,306 21,169 SH   SOLE   0 0 21,169
Udr Inc COM 902653104 361 9,951 SH   SOLE   0 0 9,951
Unilever Nv-Nys COM 904784709 447 9,000 SH   DFND   9,000 0 0
United Therapeut COM 91307C102 372 2,750 SH   DFND   2,750 0 0
Valmont Industries Inc COM 920253101 3,651 23,476 SH   SOLE   0 0 23,476
Vaneck Vectors Gm Etf COM 92189F106 228 10,000 SH   DFND   10,000 0 0
Vanguard Energy Etf COM 92204A306 206 2,130 SH   SOLE   0 0 2,130
Vanguard Ftse Developed Markets Etf COM 921943858 4,362 110,981 SH   SOLE   0 0 110,981
Vanguard Information Technology Etf COM 92204A702 5,943 43,818 SH   SOLE   0 0 43,818
Vanguard S&P 500 Etf COM 922908363 283 1,310 SH   SOLE   0 0 1,310
Vanguard Total Bond Market Etf COM 921937835 364 4,490 SH   SOLE   0 0 4,490
Verizon Communications Inc COM 92343V104 2,053 42,119 SH   SOLE   0 0 42,119
Voya Asia Pacific High Dividend Eq Inc COM 92912J102 1,507 148,619 SH   SOLE   0 0 148,619
Voya Financial Inc COM 929089100 2,036 53,635 SH   SOLE   0 0 53,635
Wells Fargo & Co COM 949746101 454 8,161 SH   DFND   8,161 0 0
Western Asset Glb Corp Def Opp Common COM 95790C107 4,318 247,857 SH   SOLE   0 0 247,857
Western Asset High Income Opp COM 95766K109 4,595 911,674 SH   SOLE   0 0 911,674
Wgl Holdings Inc COM 92924F106 4,070 49,321 SH   SOLE   0 0 49,321
Williams Companies Inc COM 969457100 1,487 50,250 SH   SOLE   0 0 50,250
Wp Carey Inc COM 92936U109 278 4,470 SH   DFND   4,470 0 0
Wpx Energy Inc COM 98212B103 307 22,944 SH   SOLE   0 0 22,944