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
ABB LTD SPONSORED ADR SPONSORED ADR 375204 178 10,031 SH   DFND 2 10,031 0 0
ALLERGAN PLC SHS SHS DELETED G0177J108 34,156 109,300 SH   DFND 1,2,3, 109,300 0 0
ALPHABET INC CAP STK CL A ADDED CAP STK CL A ADDED 02079K305 27,731 35,644 SH   DFND 1,2,3, 35,644 0 0
ALPHABET INC CAP STK CL C ADDED CAP STK CL C ADDED 02079K107 15,361 20,241 SH   DFND 1,2,3, 20,241 0 0
AMERICAN AIRLS GROUP INC COM COM 02376R102 31,829 751,560 SH   DFND 1,2,3, 751,560 0 0
AMERICAN INTL GROUP INC COM NEW COM NEW 26874784 36,950 596,252 SH   DFND 1,2,3, 596,252 0 0
BANK AMER CORP COM COM 60505104 30,841 1,832,481 SH   DFND 1,2,3, 1,832,481 0 0
BLACKSTONE GROUP L P COM UNIT LTD COM UNIT LTD 09253U108 20,545 702,640 SH   DFND 1,2,3, 702,640 0 0
CELLCOM ISRAEL LTD SHS SHS M2196U109 1,225 197,526 SH   DFND 1,2, 197,526 0 0
CHECK POINT SOFTWARE TECH LT ORD ORD M22465104 2,559 31,450 SH   DFND 1 31,450 0 0
CISCO SYS INC COM COM 17275R102 25,210 928,369 SH   DFND 1,2,3, 928,369 0 0
CITIGROUP INC COM NEW COM NEW 172967424 35,685 689,575 SH   DFND 1,2,3, 689,575 0 0
DELPHI AUTOMOTIVE PLC SHS SHS G27823106 29,801 347,610 SH   DFND 1,2,3, 347,610 0 0
ELBIT SYS LTD ORD ORD M3760D101 8,094 91,630 SH   DFND 2 91,630 0 0
ENERGIZER HLDGS INC NEW COM NEW COM 29272W109 13,931 409,000 SH   DFND 1,2,3, 409,000 0 0
EZCHIP SEMICONDUCTOR LIMITED ORD ORD M4146Y108 2,494 100,884 SH   DFND 1,2, 100,884 0 0
GAZIT GLOBE LTD SHS SHS M4793C102 4,124 450,000 SH   DFND 1,2, 450,000 0 0
GENERAL ELECTRIC CO COM COM 369604103 24,625 785,747 SH   DFND 1,2,3, 785,747 0 0
ISHARES MSCI JAPAN ETF MSCI JAPAN ETF 464286848 42,111 3,474,530 SH   DFND 1,2,3, 3,474,530 0 0
ISHARES MSCI STH KOR ETF MSCI STH KOR ETF 464286772 45,779 921,655 SH   DFND 1,2,3, 921,655 0 0
ISHARES MSCI TAIWAN ETF MSCI TAIWAN ETF 464286731 2,951 231,097 SH   DFND 1,2, 231,097 0 0
ISHARES TR CHINA LG-CAP ETF CHINA LG-CAP ETF 464287184 11,867 336,261 SH   DFND 1,2, 336,261 0 0
ISHARES TR EUROPE ETF EUROPE ETF 464287861 13,472 335,883 SH   DFND 1,2,3, 335,883 0 0
ISHARES TR IBOXX HI YD ETF IBOXX HI YD ETF 464288513 50 624 SH   DFND 2 624 0 0
ISHARES TR INTERM CR BD ETF INTERM CR BD ETF 464288638 32 299 SH   DFND 2 299 0 0
ISHARES TR MSCI INDIA ETF MSCI INDIA ETF 46429B598 129,661 4,714,937 SH   DFND 1,2,3, 4,714,937 0 0
ISHARES TR MSCI UTD KNGDM MSCI UTD KNGDM 46434V548 6,009 372,306 SH   DFND 1,2,3, 372,306 0 0
ISHARES TR NA TEC-SFTWR ETF NA TEC-SFTWR ETF 464287515 148,996 1,435,262 SH   DFND 1,2,3, 1,435,262 0 0
ISHARES TR PHLX SEMICND ETF PHLX SEMICND ETF 464287523 87,949 978,950 SH   DFND 1,2,3, 978,950 0 0
ISHARES TR TRANS AVG ETF TRANS AVG ETF 464287192 65,209 483,716 SH   DFND 1,2,3, 483,716 0 0
ISHARES TR U.S. BAS MTL ETF U.S. BAS MTL ETF 464287838 24,322 344,800 SH   DFND 1,2,3, 344,800 0 0
ISHARES TR U.S. MED DVC ETF U.S. MED DVC ETF 464288810 111,769 911,263 SH   DFND 1,2,3, 911,263 0 0
ISHARES TR U.S. PFD STK ETF U.S. PFD STK ETF 464288687 5 126 SH   DFND 2 126 0 0
ISHARES TR U.S. TELECOM ETF TELECOM ETF 464287713 60,371 2,096,523 SH   DFND 1,2,3, 2,096,523 0 0
ISHARES TR US HLTHCR PR ETF US HLTHCR PR ETF 464288828 1,080 8,687 SH   DFND 1 8,687 0 0
ISHARES TR US HOME CONS ETF US HOME CONS ETF 464288752 95,853 3,536,389 SH   DFND 1,2,3, 3,536,389 0 0
ISRAEL CHEMICALS LTD SHS SHS M5920A109 2,633 650,000 SH   DFND 1,2,3, 650,000 0 0
JPMORGAN CHASE & CO COM COM 46625H100 33,913 513,606 SH   DFND 1,2,3, 513,606 0 0
MARKET VECTORS ETF TR JP MORGAN EM LC EM LC CURR DBT 57060U522 137 8,050 SH   DFND 1,2, 8,050 0 0
MARKET VECTORS ETF TR OIL SVCS ETF OIL SVCS ETF 57060U191 45,898 1,735,291 SH   DFND 1,2,3, 1,735,291 0 0
MARKET VECTORS ETF TR PHARMACEUTICAL PHARMACEUTICAL 57060U217 4,180 63,800 SH   DFND 1 63,800 0 0
MEDTRONIC PLC SHS COM UNIT LTD G5960L103 30,627 396,788 SH   DFND 1,2,3, 396,788 0 0
MELLANOX TECHNOLOGIES LTD SHS SHS M51363113 17,958 426,158 SH   DFND 1,2,3, 426,158 0 0
METLIFE INC COM COM 59156R108 26,885 557,651 SH   DFND 1,2,3, 557,651 0 0
MICRON TECHNOLOGY INC COM COM 595112103 14,564 1,028,545 SH   DFND 1,2,3, 1,028,545 0 0
MYLAN N V SHS EURO SHS EURO N59465109 74,789 1,383,198 SH   DFND 1,2,3, 1,383,198 0 0
NICE SYS LTD SPONSORED ADR SPONSORED ADR 653656108 34,185 596,385 SH   DFND 1,2,3, 596,385 0 0
NOVA MEASURING INSTRUMENTS L COM COM M7516K103 10,288 1,049,790 SH   DFND 1,2,3, 1,049,790 0 0
NOVARTIS A G SPONSORED ADR SPONSORED ADR 66987V109 1,468 17,060 SH   DFND 1 17,060 0 0
OPKO HEALTH INC COM COM 68375N103 22,654 2,254,107 SH   DFND 1,2,3, 2,254,107 0 0
ORBOTECH LTD ORD ORD M75253100 55,038 2,487,043 SH   DFND 1,2,3, 2,487,043 0 0
ORMAT TECHNOLOGIES INC COM COM 686688102 87,604 2,402,083 SH   DFND 1,2,3, 2,402,083 0 0
PERRIGO CO PLC SHS SHS G97822103 120,586 833,353 SH   DFND 1,2,3, 833,353 0 0
PFIZER INC COM COM 717081103 38,105 1,180,440 SH   DFND 1,2,3, 1,180,440 0 0
PJT PARTNERS INC COM CL A COM CL A 69343T107 22 782 SH   DFND 1 782 0 0
POWERSHARES QQQ TRUST UNIT SER 1 UNIT SER 1 73935A104 120,172 1,074,303 SH   DFND 1,2,3, 1,074,303 0 0
PROSHARES TR SHRT 20+YR TRE SHRT 20+YR TRE 74347X849 278 11,252 SH   DFND 1 11,252 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR SBI CONS DISCR 81369Y407 157,140 2,010,467 SH   DFND 1,2,3, 2,010,467 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS SBI CONS STPLS 81369Y308 209,958 4,158,410 SH   DFND 1,2,3, 4,158,410 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE SBI HEALTHCARE 81369Y209 54,187 752,250 SH   DFND 1,2,3, 752,250 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY SBI INT-ENERGY 81369Y506 75,239 1,247,326 SH   DFND 1,2,3, 1,247,326 0 0
SELECT SECTOR SPDR TR SBI INT-FINL SBI INT-FINL 81369Y605 222,084 9,319,507 SH   DFND 1,2,3, 9,319,507 0 0
SELECT SECTOR SPDR TR SBI INT-INDS SBI INT-INDS 81369Y704 77,196 1,456,255 SH   DFND 1,2,3, 1,456,255 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS TR SBI INT-UTILS 81369Y886 3,666 84,700 SH   DFND 1 84,700 0 0
SELECT SECTOR SPDR TR TECHNOLOGY TECHNOLOGY 81369Y803 108,416 2,531,282 SH   DFND 1,2,3, 2,531,282 0 0
SPDR INDEX SHS FDS ASIA PACIF ETF ASIA PACIF ETF 78463X301 258 3,506 SH   DFND 1,2, 3,506 0 0
SPDR INDEX SHS FDS EURO STOXX 50 EURO STOXX 50 78463X202 10,796 313,535 SH   DFND 1,2,3, 313,535 0 0
SPDR S&P 500 ETF TR TR UNIT TR UNIT 78462F103 245,643 1,204,901 SH   DFND 1,2,3, 1,204,901 0 0
SPDR SERIES TRUST BRC HGH YLD BD BRC HGH YLD BD 78464A417 591 17,330 SH   DFND 2 17,330 0 0
SPDR SERIES TRUST S&P CAP MKTS S&P CAP MKTS 78464A771 82,401 1,889,930 SH   DFND 1,2,3, 1,889,930 0 0
SPDR SERIES TRUST S&P INS ETF S&P INS ETF 78464A789 110,899 1,595,667 SH   DFND 1,2,3, 1,595,667 0 0
SPDR SERIES TRUST S&P RETAIL ETF S&P RETAIL ETF 78464A714 149 3,440 SH   DFND 1 3,440 0 0
SPIRIT AIRLS INC COM COM 848577102 3,985 100,000 SH   DFND 1,2,3, 100,000 0 0
STEEL DYNAMICS INC COM COM 858119100 23,059 1,282,963 SH   DFND 1,2,3, 1,282,963 0 0
TEVA PHARMACEUTICAL INDS LTD ADR ADR 881624209 275,028 4,189,941 SH   DFND 1,2,3, 4,189,941 0 0
UBS GROUP AG SHS SHS NEW H42097107 26,821 1,384,672 SH   DFND 1,2,3, 1,384,672 0 0
VANGUARD INDEX FDS REIT ETF REIT ETF 922908553 3,947 49,500 SH   DFND 1 49,500 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP INT-TERM CORP 92206C870 52 617 SH   DFND 2 617 0 0
VERINT SYS INC COM COM 92343X100 0 3 SH   DFND 2 3 0 0
WAL-MART STORES INC COM COM 931142103 24 0 SH   DFND 1 0 0 0
WISDOMTREE TR JAPN HEDGE EQT JAPN HEDGE EQT 97717W851 5,996 119,723 SH   DFND 1 119,723 0 0
B COMMUNICATIONS LTD SHS SHS M15629104 11,744 476,228 SH   DFND 1,2, 476,228 0 0
CLAYMORE EXCHANGE TRD FD TR GUGG BULL 2015 DELETED GUGG BULL 2015 18383M423 15 600 SH   DFND 2 600 0 0
EVOGENE LTD SHS SHS M4119S104 4,830 600,000 SH   DFND 1,2,3, 600,000 0 0
HSBC HLDGS PLC SDCV 5.625%12/2 SDCV 5.625%12/2 404280AR0 30,176 29,400,000 SH   DFND 1,2,3, 29,400,000 0 0
PIMCO ETF TR INV GRD CRP BD INV GRD CRP BD 72201R817 635 6,412 SH   DFND 2 6,412 0 0
SAPIENS INTL CORP N V SHS NEW SHS NEW N7716A151 2,291 224,639 SH   DFND 1,2,3, 224,639 0 0
SPDR SERIES TRUST AEROSPACE DEF DEF 78464A631 56,316 1,064,922 SH   DFND 1,2,3, 1,064,922 0 0
SPDR SERIES TRUST INTR TRM CORP BD INTR TRM CORP BD 78464A375 145 4,336 SH   DFND 2 4,336 0 0