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
APOLLO COMMERCIAL REAL ESTATE COM 03762U105 250 15,891 SH   SOLE NONE 0 0 15,891
ARES CAPITAL CORPORATION COM 04010L103 199 13,727 SH   SOLE NONE 0 0 13,727
BANK OF AMERICA CORPORATION COM 060505104 183 11,749 SH   SOLE NONE 11,678 0 71
BIOTELEMETRY INC COM 090672106 320 26,178 SH   SOLE NONE 26,178 0 0
CARNIVAL CORPORATION COM 143658300 249 5,014 SH   SOLE NONE 5,014 0 0
CHESAPEAKE ENERGY CORP COM 165167107 118 16,108 SH   SOLE NONE 7,146 0 8,962
CONOCOPHILLIPS COM 20825C104 2,642 55,085 SH   SOLE NONE 0 0 55,085
CROCS, INC. COM 227046109 154 11,925 SH   SOLE NONE 11,925 0 0
CUMMINS INC COM 231021106 2,334 21,500 SH   SOLE NONE 0 0 21,500
CYNOSURE, INC. COM 232577205 254 8,439 SH   SOLE NONE 8,439 0 0
DB X-TRACKERS MSCI EAFE HEDGED COM 233051200 2,775 106,415 SH   SOLE NONE 0 0 106,415
E*TRADE FINANCIAL CORP COM 269246401 232 8,828 SH   SOLE NONE 8,828 0 0
EMERSON ELECTRIC CO. COM 291011104 2,884 65,283 SH   SOLE NONE 0 0 65,283
FIFTH THIRD BANCORP COM 316773100 3,489 184,515 SH   SOLE NONE 0 0 184,515
FIRST TRUST LARGE CAP CORE ALP COM 33734K109 23,876 570,917 SH   SOLE NONE 58,299 0 512,618
FIRST TRUST LARGE CAP VALUE AL COM 33735J101 7,661 202,892 SH   SOLE NONE 0 0 202,892
FIRST TRUST LARGE CAP GR OPP A COM 33735K108 8,546 187,124 SH   SOLE NONE 0 0 187,124
FIRST TRUST PREFERRED SEC INC COM 33739E108 922 49,161 SH   SOLE NONE 0 0 49,161
FIRST TRUST ENH SHORT MAT FD COM 33739Q408 4,218 70,446 SH   SOLE NONE 6,696 0 63,750
FORD MOTOR CO COM 345370860 3,133 230,890 SH   SOLE NONE 0 0 230,890
GLADSTONE COMMER COM 376536108 254 18,018 SH   SOLE NONE 0 0 18,018
HORMEL FOODS CORPORATION COM 440452100 239 3,781 SH   SOLE NONE 3,781 0 0
INTEL CORP COM 458140100 1,676 55,603 SH   SOLE NONE 0 0 55,603
INVESTORS REAL ESTATE TRUST COM 461730103 146 18,904 SH   SOLE NONE 0 0 18,904
ISHARES CORE SP 500 COM 464287200 2,960 15,357 SH   SOLE NONE 0 0 15,357
ISHARES CORE US AGGREGATE BOND COM 464287226 12,156 110,930 SH   SOLE NONE 0 0 110,930
ISHARES IBOXX $ INVST GRADE CR COM 464287242 1,523 13,120 SH   SOLE NONE 0 0 13,120
ISHARES SP 500 GROWTH COM 464287309 62,090 575,972 SH   SOLE NONE 370,371 0 205,601
ISHARES SP 500 VALUE COM 464287408 3,404 40,509 SH   SOLE NONE 0 0 40,509
ISHARES 1-3 YEAR TREASURY BOND COM 464287457 61,187 719,937 SH   SOLE NONE 363,624 0 356,313
ISHARES MSCI EAFE COM 464287465 89,899 1,568,376 SH   SOLE NONE 1,046,958 0 521,418
ISHARES RUSSELL MID-CAP COM 464287499 2,728 17,537 SH   SOLE NONE 0 0 17,537
ISHARES CORE SP MID-CAP COM 464287507 1,407 10,302 SH   SOLE NONE 0 0 10,302
ISHARES RUSSELL 2000 COM 464287655 453 4,152 SH   SOLE NONE 0 0 4,152
ISHARES CORE SP SMALL-CAP COM 464287804 59,421 557,575 SH   SOLE NONE 372,038 0 185,537
ISHARES MSCI ALL COUNTRY ASIA COM 464288182 1,537 29,142 SH   SOLE NONE 0 0 29,142
ISHARES NATIONAL AMT-FREE MUNI COM 464288414 1,026 9,368 SH   SOLE NONE 0 0 9,368
ISHARES MBS COM 464288588 39,528 360,590 SH   SOLE NONE 14,645 0 345,945
ISHARES INTERMEDIATE CREDIT BD COM 464288638 2,118 19,505 SH   SOLE NONE 0 0 19,505
ISHARES 3-7 YEAR TREASURY BOND COM 464288661 41,408 332,191 SH   SOLE NONE 76,587 0 255,604
ISHARES SHORT TREASURY BOND COM 464288679 81,480 738,646 SH   SOLE NONE 276,686 0 461,960
KULICKE SOFFA INDUSTRIES INC COM 501242101 118 12,872 SH   SOLE NONE 12,872 0 0
MBIA INC COM 55262C100 111 18,210 SH   SOLE NONE 0 0 18,210
MEDICAL PROPERTIES TRUST, INC. COM 58463J304 119 10,795 SH   SOLE NONE 0 0 10,795
MICROSTRATEGY COM 594972408 202 1,028 SH   SOLE NONE 0 0 1,028
NEW MOUNTAIN FINANCE CORP COM 647551100 292 21,454 SH   SOLE NONE 0 0 21,454
OMEGA PROTEIN CORPORATION COM 68210P107 214 12,631 SH   SOLE NONE 12,631 0 0
PNC FINANCIAL SERVICES GROUP I COM 693475105 3,452 38,699 SH   SOLE NONE 0 0 38,699
PIMCO TOTAL RETURN ETF COM 72201R775 19,696 186,767 SH   SOLE NONE 7,548 0 179,219
POWERSHARES QQQ COM 73935A104 7,554 74,229 SH   SOLE NONE 0 0 74,229
POWERSHARES DYNAMIC LARGE CAP COM 73935X609 6,160 210,230 SH   SOLE NONE 0 0 210,230
POWERSHARES DYNAMIC LARGE CAP COM 73935X708 5,954 212,579 SH   SOLE NONE 0 0 212,579
POWERSHARES PREFERRED COM 73936T565 1,733 118,859 SH   SOLE NONE 0 0 118,859
PROSHARES ULTRASHORT 20+ YEAR COM 74347B201 201 4,624 SH   SOLE NONE 0 0 4,624
SPDR SP 500 COM 78462F103 188,125 981,913 SH   SOLE NONE 716,639 0 265,274
SPDR MSCI ACWI (EX-US) COM 78463X848 2,744 90,271 SH   SOLE NONE 0 0 90,271
SPDR DOUBLELINE TR TACT ETF COM 78467V848 20,267 409,275 SH   SOLE NONE 16,214 0 393,061
CONSUMER STAPLES SELECT SECTOR COM 81369Y308 89,109 1,887,512 SH   SOLE NONE 1,262,344 0 625,168
INDUSTRIAL SELECT SECTOR SPDR COM 81369Y704 89,580 1,795,548 SH   SOLE NONE 1,200,536 0 595,012
SOLAR CAPITAL, LTD. COM 83413U100 304 19,195 SH   SOLE NONE 0 0 19,195
SPECTRUM PHARMACEUTICALS INC COM 84763A108 139 23,257 SH   SOLE NONE 23,257 0 0
STARWOOD PROPERTY TRUST, INC. COM 85571B105 250 12,203 SH   SOLE NONE 0 0 12,203
TJX COMPANIES COM 872540109 229 3,205 SH   SOLE NONE 3,195 0 10
TAIWAN SEMICONDUCTOR MANUFACTU COM 874039100 3,482 167,796 SH   SOLE NONE 0 0 167,796
3M CO COM 88579Y101 3,371 23,775 SH   SOLE NONE 0 0 23,775
TIVO, INC. COM 888706108 100 11,568 SH   SOLE NONE 0 0 11,568
TRACTOR SUPPLY COM 892356106 242 2,872 SH   SOLE NONE 2,872 0 0
UNILEVER PLC ADR COM 904767704 3,461 84,862 SH   SOLE NONE 0 0 84,862
UNITED PARCEL SERVICE INC (UPS COM 911312106 2,798 28,355 SH   SOLE NONE 0 0 28,355
VF CORPORATION COM 918204108 202 2,967 SH   SOLE NONE 2,967 0 0
VALERO ENERGY CORPORATION COM 91913Y100 210 3,498 SH   SOLE NONE 3,498 0 0
VANGUARD FTSE DEVELOPED MARKET COM 921943858 2,858 80,192 SH   SOLE NONE 0 0 80,192
VANGUARD TOTAL INTL BD IDX ETF COM 92203J407 20,112 379,976 SH   SOLE NONE 15,159 0 364,817
VANGUARD GROWTH ETF COM 922908736 250 2,496 SH   SOLE NONE 0 0 2,496
WEYERHAEUSER CO COM 962166104 201 7,354 SH   SOLE NONE 7,354 0 0
WISDOMTREE JAPAN HEDGED EQUITY COM 97717W851 1,573 32,339 SH   SOLE NONE 0 0 32,339
WISDOMTREE EUROPE HEDGED EQUIT COM 97717X701 2,948 53,945 SH   SOLE NONE 0 0 53,945
YUM BRANDS INC COM 988498101 3,099 38,766 SH   SOLE NONE 0 0 38,766
MARVELL TECHNOLOGY GROUP, LTD. COM G5876H105 99 10,982 SH   SOLE NONE 0 0 10,982
XL GROUP PLC COM G98290102 202 5,569 SH   SOLE NONE 5,569 0 0
BAY BANCORP INC COM 07203T106 113 22,217 SH   DFND 1 0 0 22,217
DB X-TRACKERS MSCI EAFE HEDGED COM 233051200 10,440 400,317 SH   DFND 1 0 0 400,317
FIRST TRUST NYSE ARCA BIOTECH COM 33733E203 353 3,480 SH   DFND 1 0 0 3,480
FIRST TRUST DOW JONES INTERNET COM 33733E302 384 5,808 SH   DFND 1 0 0 5,808
FIRST TRUST CONSUMER DISC ALPH COM 33734X101 382 11,153 SH   DFND 1 0 0 11,153
FIRST TRUST CONSUMER STAPLES A COM 33734X119 378 9,016 SH   DFND 1 0 0 9,016
FIRST TRUST HEALTH CARE ALPHAD COM 33734X143 353 6,072 SH   DFND 1 0 0 6,072
ISHARES CORE US AGGREGATE BOND COM 464287226 900 8,209 SH   DFND 1 0 0 8,209
ISHARES IBOXX $ INVST GRADE CR COM 464287242 351 3,023 SH   DFND 1 0 0 3,023
ISHARES 7-10 YEAR TREASURY BON COM 464287440 351 3,254 SH   DFND 1 0 0 3,254
ISHARES 1-3 YEAR TREASURY BOND COM 464287457 11,034 129,823 SH   DFND 1 0 0 129,823
ISHARES RUSSELL 1000 GROWTH COM 464287614 7,537 81,039 SH   DFND 1 0 0 81,039
ISHARES GOVERNMENT/CREDIT BOND COM 464288596 358 3,165 SH   DFND 1 0 0 3,165
ISHARES INTERMEDIATE CREDIT BD COM 464288638 359 3,307 SH   DFND 1 0 0 3,307
ISHARES 10-20 YEAR TREASURY BO COM 464288653 364 2,650 SH   DFND 1 0 0 2,650
PIMCO 0-5 YEAR HIGH YLD CORP B COM 72201R783 421 4,449 SH   DFND 1 0 0 4,449
POWERSHARES SENIOR LOAN PORT COM 73936Q769 431 18,719 SH   DFND 1 0 0 18,719
SPDR SP 500 COM 78462F103 8,040 41,967 SH   DFND 1 0 0 41,967
VANGUARD SHORT-TERM BOND ETF COM 921937827 1,930 24,014 SH   DFND 1 0 0 24,014
VANGUARD TOTAL BOND MARKET ETF COM 921937835 821 10,017 SH   DFND 1 0 0 10,017
VANGUARD TOTAL WORLD STOCK IND COM 922042742 6,327 114,387 SH   DFND 1 0 0 114,387
VANGUARD EMERGING MARKETS STOC COM 922042858 2,578 77,901 SH   DFND 1 0 0 77,901
VANGUARD MID-CAP ETF COM 922908629 5,291 45,354 SH   DFND 1 0 0 45,354
VANGUARD VALUE ETF COM 922908744 7,495 97,649 SH   DFND 1 0 0 97,649
VANGUARD SMALL CAP ETF COM 922908751 2,690 24,919 SH   DFND 1 0 0 24,919