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 000375204 11,670 660,432 SH   DFND 1,2,3, 11,670 0 0
ALLERGAN PLC SHS SHS DELETED G0177J108 22,295 82,025 SH   DFND 1,2,3, 22,295 0 0
AMDOCS LTD SHS SHS G02602103 1,898 33,292 SH   DFND 1,2,3, 1,898 0 0
AMERICAN AIRLS GROUP INC COM COM 02376R102 29,227 752,692 SH   DFND 1,2,3, 29,227 0 0
AMERICAN INTL GROUP INC COM NEW COM NEW 026874784 33,932 597,183 SH   DFND 1,2,3, 33,932 0 0
BANK AMER CORP COM COM 060505104 28,513 1,830,075 SH   DFND 1,2,3, 28,513 0 0
BLACKSTONE GROUP L P COM UNIT LTD COM UNIT LTD 09253U108 18,779 592,960 SH   DFND 1,2,3, 18,779 0 0
CELLCOM ISRAEL LTD SHS SHS M2196U109 1,229 197,526 SH   DFND 1,2, 1,229 0 0
CHECKSOFTWARELT ORD ORD M22465104 1,920 24,200 SH   DFND 1 1,920 0 0
CISCO SYS INC COM COM 17275R102 23,616 899,669 SH   DFND 1,2,3, 23,616 0 0
CITIGROUP INC COM NEW COM NEW 172967424 34,183 689,029 SH   DFND 1,2,3, 34,183 0 0
DELPHI AUTOMOTIVE PLC SHS SHS G27823106 21,526 283,090 SH   DFND 1,2,3, 21,526 0 0
ELBIT SYS LTD ORD ORD M3760D101 6,837 91,630 SH   DFND 2 6,837 0 0
EZCHIP SEMICONDUCTOR LIMITED ORD ORD M4146Y108 2,538 100,884 SH   DFND 1,2, 2,538 0 0
GAZIT GLOBE LTD SHS SHS M4793C102 4,552 450,000 SH   DFND 1,2, 4,552 0 0
GENERAL ELECTRIC CO COM COM 369604103 32,198 1,267,397 SH   DFND 1,2,3, 32,198 0 0
GOOGLE INC CL A CL A 38259P508 29,983 47,526 SH   DFND 1,2,3, 29,983 0 0
GOOGLE INC CL C CL A 38259P706 4,873 8,009 SH   DFND 2,3 4,873 0 0
ISHARES MSCI JAPAN ETF MSCI JAPAN ETF 464286848 775 67,765 SH   DFND 2 775 0 0
ISHARES MSCI STH KOR ETF MSCI STH KOR ETF 464286772 47,376 971,213 SH   DFND 1,2,3, 47,376 0 0
ISHARES MSCI TAIWAN ETF MSCI TAIWAN ETF 464286731 3,041 231,097 SH   DFND 1,2, 3,041 0 0
ISHARES TR 1-3 YR CR BD ETF 1-3 YR CR BD ETF 464288646 20 189 SH   DFND 1 20 0 0
ISHARES TR CHINA LG-CAP ETF CHINA LG-CAP ETF 464287184 11,836 333,677 SH   DFND 1,2, 11,836 0 0
ISHARES TR CORE US CR BD CORE US CR BD 464288620 476 4,386 SH   DFND 1 476 0 0
ISHARES TR EUROPE ETF EUROPE ETF 464287861 13,345 335,291 SH   DFND 1,2,3, 13,345 0 0
ISHARES TR IBOXX HI YD ETF IBOXX HI YD ETF 464288513 52 624 SH   DFND 2 52 0 0
ISHARES TR INTERM CR BD ETF INTERM CR BD ETF 464288638 58 531 SH   DFND 1,2, 58 0 0
ISHARES TR MSCI INDIA ETF MSCI INDIA ETF 46429B598 142,557 4,989,736 SH   DFND 1,2,3, 142,557 0 0
ISHARES TR MSCI UTD KNGDM MSCI UTD KNGDM 46434V548 5,975 364,539 SH   DFND 1,2,3, 5,975 0 0
ISHARES TR NA TEC-SFTWR ETF NA TEC-SFTWR ETF 464287515 135,222 1,428,243 SH   DFND 1,2,3, 135,222 0 0
ISHARES TR PHLX SEMICND ETF PHLX SEMICND ETF 464287523 85,826 1,049,107 SH   DFND 1,2,3, 85,826 0 0
ISHARES TR TRANS AVG ETF TRANS AVG ETF 464287192 51,629 368,420 SH   DFND 1,2,3, 51,629 0 0
ISHARES TR U.S. BAS MTL ETF U.S. BAS MTL ETF 464287838 22,426 344,800 SH   DFND 1,2,3, 22,426 0 0
ISHARES TR U.S. MED DVC ETF U.S. MED DVC ETF 464288810 117,273 1,052,215 SH   DFND 1,2,3, 117,273 0 0
ISHARES TR U.S. PFD STK ETF U.S. PFD STK ETF 464288687 5 126 SH   DFND 2 5 0 0
ISHARES TR U.S. TELECOM ETF TELECOM ETF 464287713 3,530 130,000 SH   DFND 1 3,530 0 0
ISHARES TR US HLTHCR PR ETF US HLTHCR PR ETF 464288828 37,178 300,036 SH   DFND 1,2,3, 37,178 0 0
ISHARES TR US HOME CONS ETF US HOME CONS ETF 464288752 92,352 3,536,389 SH   DFND 1,2,3, 92,352 0 0
ISRAEL CHEMICALS LTD SHS SHS M5920A109 3,328 650,000 SH   DFND 1,2,3, 3,328 0 0
JPMORGAN CHASE & CO COM COM 46625H100 31,134 510,643 SH   DFND 1,2,3, 31,134 0 0
LUMENIS LTD SHS CL B SHS CL B M6778Q121 8 582 SH   DFND 2 8 0 0
MARKET VECTORS ETF TR EM LC CURR DBT EM LC CURR DBT 57060U522 140 8,050 SH   DFND 1,2, 140 0 0
MARKET VECTORS ETF TR OIL SVCS ETF OIL SVCS ETF 57060U191 25,152 915,291 SH   DFND 1,2,3, 25,152 0 0
MARKET VECTORS ETF TR PHARMACEUTICAL PHARMACEUTICAL 57060U217 6,058 96,200 SH   DFND 1 6,058 0 0
MEDTRONIC PLC SHS COM UNIT LTD G5960L103 21,968 326,788 SH   DFND 1,2,3, 21,968 0 0
MELLANOX TECHNOLOGIES LTD SHS SHS M51363113 20,330 537,966 SH   DFND 1,2,3, 20,330 0 0
METLIFE INC COM COM 59156R108 26,294 557,651 SH   DFND 1,2,3, 26,294 0 0
MICRON TECHNOLOGY INC COM COM 595112103 13,143 877,395 SH   DFND 1,2,3, 13,143 0 0
NICE SYS LTD SPONSORED ADR SPONSORED ADR 653656108 33,594 596,385 SH   DFND 1,2,3, 33,594 0 0
NOVA MEASURING INSTRUMENTS L COM COM M7516K103 10,099 1,049,790 SH   DFND 1,2,3, 10,099 0 0
NOVARTIS A G SPONSORED ADR SPONSORED ADR 66987V109 22,684 246,782 SH   DFND 1,2,3, 22,684 0 0
OPKO HEALTH INC COM COM 68375N103 16,535 1,966,107 SH   DFND 1,2,3, 16,535 0 0
ORBOTECH LTD ORD ORD M75253100 40,978 2,652,285 SH   DFND 1,2,3, 40,978 0 0
ORMAT TECHNOLOGIES INC COM COM 686688102 84,164 2,473,227 SH   DFND 1,2,3, 84,164 0 0
PERRIGO CO PLC SHS SHS G97822103 104,840 666,623 SH   DFND 1,2,3, 104,840 0 0
PFIZER INC COM COM 717081103 35,005 1,114,440 SH   DFND 1,2,3, 35,005 0 0
PIMCO ETF TR ENHAN SHRT MA AC ENHAN SHRT MAT 72201R833 528 5,236 SH   DFND 1 528 0 0
POWERSHARES QQQ TRUST UNIT SER 1 UNIT SER 1 73935A104 129,153 1,266,869 SH   DFND 1,2,3, 129,153 0 0
SELECT SECTOR SPDR TR SBI CONS DISCR SBI CONS DISCR 81369Y407 207,630 2,795,987 SH   DFND 1,2,3, 207,630 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS SBI CONS STPLS 81369Y308 195,862 4,150,506 SH   DFND 1,2,3, 195,862 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE SBI HEALTHCARE 81369Y209 49,820 752,155 SH   DFND 1,2,3, 49,820 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY SBI INT-ENERGY 81369Y506 47,806 781,145 SH   DFND 1,2,3, 47,806 0 0
SELECT SECTOR SPDR TR SBI INT-FINL SBI INT-FINL 81369Y605 208,338 9,194,110 SH   DFND 1,2,3, 208,338 0 0
SELECT SECTOR SPDR TR SBI INT-INDS SBI INT-INDS 81369Y704 128,992 2,584,978 SH   DFND 1,2,3, 128,992 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS TR SBI INT-UTILS 81369Y886 29,208 674,700 SH   DFND 1,2,3, 29,208 0 0
SELECT SECTOR SPDR TR TECHNOLOGY TECHNOLOGY 81369Y803 65,466 1,657,364 SH   DFND 1,2,3, 65,466 0 0
SPDR INDEX SHS FDS ASIA PACIF ETF ASIA PACIF ETF 78463X301 0 0 SH   DFND 2 0 0 0
SPDR INDEX SHS FDS EURO STOXX 50 EURO STOXX 50 78463X202 10,444 308,511 SH   DFND 1,2,3, 10,444 0 0
SPDR S&P 500 ETF TR TR UNIT TR UNIT 78462F103 401,442 2,089,690 SH   DFND 1,2,3, 401,442 0 0
SPDR SERIES TRUST BRC HGH YLD BD BRC HGH YLD BD 78464A417 618 17,330 SH   DFND 2 618 0 0
SPDR SERIES TRUST S&P CAP MKTS S&P CAP MKTS 78464A771 98,936 2,385,155 SH   DFND 1,2,3, 98,936 0 0
SPDR SERIES TRUST S&P INS ETF S&P INS ETF 78464A789 91,861 1,360,505 SH   DFND 1,2,3, 91,861 0 0
SPDR SERIES TRUST S&P RETAIL ETF S&P RETAIL ETF 78464A714 297 6,680 SH   DFND 1 297 0 0
STEEL DYNAMICS INC COM COM 858119100 22,174 1,282,963 SH   DFND 1,2,3, 22,174 0 0
TEVA PHARMACEUTICAL INDS LTD ADR ADR 881624209 246,233 4,361,197 SH   DFND 1,2,3, 246,233 0 0
UBS GROUP AG SHS SHS NEW H42097107 25,696 1,387,297 SH   DFND 1,2,3, 25,696 0 0
VANGUARD INDEX FDS REIT ETF REIT ETF 922908553 3,739 49,500 SH   DFND 1 3,739 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP INT-TERM CORP 92206C870 824 9,640 SH   DFND 1,2, 824 0 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD SHRT TRM CORP BD 92206C409 855 10,721 SH   DFND 1 855 0 0
VERINT SYS INC COM COM 92343X100 0 3 SH   DFND 2 0 0 0
WAL-MART STORES INC COM COM 931142103 14,848 229,000 SH   DFND 1,2,3, 14,848 0 0
WISDOMTREE TR JAPN HEDGE EQT JAPN HEDGE EQT 97717W851 162,772 3,345,081 SH   DFND 1,2,3, 162,772 0 0
B COMMUNICATIONS LTD SHS SHS M15629104 9,198 482,828 SH   DFND 1,2, 9,198 0 0
CLAYMORE EXCHANGE TRD FD TR GUGG BULL 2015 GUGG BULL 2015 18383M423 16 600 SH   DFND 2 16 0 0
EVOGENE LTD SHS SHS M4119S104 4,950 600,000 SH   DFND 1,2,3, 4,950 0 0
PIMCO ETF TR INV GRD CRP BD INV GRD CRP BD 72201R817 1,723 17,200 SH   DFND 1,2, 1,723 0 0
SAPIENS INTL CORP N V SHS NEW SHS NEW N7716A151 1,598 138,693 SH   DFND 1,2,3, 1,598 0 0
SPDR SERIES TRUST BRCLY INTL CRP BRCLY INTL CRP 78464A151 69 2,195 SH   DFND 1 69 0 0
SPDR SERIES TRUST BRCLYS AGG ETF BRCLYS AGG ETF 78464A649 654 11,308 SH   DFND 1 654 0 0
SPDR SERIES TRUST INTR TRM CORP BD INTR TRM CORP BD 78464A375 1,128 33,232 SH   DFND 1,2, 1,128 0 0
HSBC HLDGS PLC SDCV 5.625%12/2 SDCV 5.625%12/2 404280AR0 112,002 29,400,000 SH   DFND 1,2,3, 112,002 0 0