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
AGNICO EAGLE MINES LTD Common Stock 008474108 1,083 41,218 SH   DFND   41,218 0 0
ALACER GOLD CORP Common Stock 010679108 22 12,300 SH   DFND   12,300 0 0
ALAMOS GOLD INC-CLASS A Common Stock 011532108 295 89,787 SH   DFND   89,787 0 0
BARRICK GOLD CORP Common Stock 067901108 1,344 182,048 SH   DFND   182,048 0 0
B2GOLD CORP Common Stock 11777Q209 332 325,316 SH   DFND   325,316 0 0
CENTERRA GOLD INC Common Stock 152006102 278 58,300 SH   DFND   58,300 0 0
DETOUR GOLD CORP Common Stock 250669108 556 53,400 SH   DFND   53,400 0 0
ELDORADO GOLD CORP Common Stock 284902103 770 259,177 SH   DFND   259,177 0 0
FRANCO-NEVADA CORP Common Stock 351858105 1,200 26,232 SH   DFND   26,232 0 0
GOLDCORP INC Common Stock 380956409 1,584 137,040 SH   DFND   137,040 0 0
IAMGOLD CORP Common Stock 450913108 193 136,000 SH   DFND   136,000 0 0
KINROSS GOLD CORP Common Stock 496902404 787 432,215 SH   DFND   432,215 0 0
NEW GOLD INC Common Stock 644535106 369 158,885 SH   DFND   158,885 0 0
OSISKO GOLD ROYALTIES LTD Common Stock 68827L101 218 22,100 SH   DFND   22,100 0 0
PAN AMERICAN SILVER CORP Common Stock 697900108 267 41,114 SH   DFND   41,114 0 0
SEMAFO INC Common Stock 816922108 34 13,300 SH   DFND   13,300 0 0
SILVER WHEATON CORP Common Stock 828336107 911 73,373 SH   DFND   73,373 0 0
SPROTT PHYSICAL SILVER TRUST Closed-End Fund 85207K107 144 27,328 SH   DFND   27,328 0 0
TAHOE RESOURCES INC Common Stock 873868103 551 63,594 SH   DFND   63,594 0 0
YAMANA GOLD INC Common Stock 98462Y100 483 259,882 SH   DFND   259,882 0 0
ABB LTD-SPON ADR ADR 000375204 7,408 417,802 SH   DFND   417,802 0 0
ALPS INTERNATIONAL SECTOR DI ETP 00162Q718 560 23,853 SH   DFND   23,853 0 0
AU OPTRONICS CORP-SPON ADR ADR 002255107 2,650 910,649 SH   DFND   910,649 0 0
ADVANCED SEMICONDUCTOR E-ADR ADR 00756M404 993 175,189 SH   DFND   175,189 0 0
AIXTRON SE-SPONSORED ADR ADR 009606104 67 15,451 SH   DFND   15,451 0 0
ALCATEL-LUCENT-SPONSORED ADR ADR 013904305 283 73,999 SH   DFND   73,999 0 0
ANGLOGOLD ASHANTI-SPON ADR ADR 035128206 2,563 361,023 SH   DFND   361,023 0 0
ARM HOLDINGS PLC-SPONS ADR ADR 042068106 4,402 97,314 SH   DFND   97,314 0 0
AUTOLIV INC Common Stock 052800109 886 7,104 SH   DFND   7,104 0 0
BP PLC-SPONS ADR ADR 055622104 21,729 695,095 SH   DFND   695,095 0 0
BANCO SANTANDER SA-SPON ADR ADR 05964H105 9,507 1,952,067 SH   DFND   1,952,067 0 0
BANCO SANTANDER BRASIL-ADS ADR 05967A107 1,191 306,073 SH   DFND   306,073 0 0
IPATH BLOOMBERG NICKEL SUBIN ETP 06739F119 110 10,199 SH   DFND   10,199 0 0
IPATH MSCI INDIA INDEX ETN ETP 06739F291 1,064 16,654 SH   DFND   16,654 0 0
IPATH BLOOMBERG SUGAR SUBIND ETP 06739H214 447 12,882 SH   DFND   12,882 0 0
IPATH BLOOMBERG COFFEE SUBIN ETP 06739H297 531 26,947 SH   DFND   26,947 0 0
IPATH BLOOMBERG GRAINS SUBIN ETP 06739H305 315 10,394 SH   DFND   10,394 0 0
BHP BILLITON LTD-SPON ADR ADR 088606108 6,376 247,500 SH   DFND   247,500 0 0
BRITISH AMERICAN TOB-SP ADR ADR 110448107 8,975 81,260 SH   DFND   81,260 0 0
CNOOC LTD-SPON ADR ADR 126132109 2,110 20,217 SH   DFND   20,217 0 0
CRH PLC-SPONSORED ADR ADR 12626K203 586 20,336 SH   DFND   20,336 0 0
CSOP FTSE CHINA A50 ETF ETP 12649L105 251 17,624 SH   DFND   17,624 0 0
CAMBRIA GLOBAL VALUE ETF ETP 132061409 322 18,187 SH   DFND   18,187 0 0
CELLECTIS - ADR ADR 15117K103 1,003 32,334 SH   DFND   32,334 0 0
CELYAD -SPON ADR ADR 151205200 534 9,776 SH   DFND   9,776 0 0
CEMEX SAB-SPONS ADR PART CER ADR 151290889 336 60,298 SH   DFND   60,298 0 0
CENTRAIS ELETRICAS BR-SP ADR ADR 15234Q207 399 293,702 SH   DFND   293,702 0 0
CHINA LIFE INSURANCE CO-ADR ADR 16939P106 378 23,670 SH   DFND   23,670 0 0
CHINA PETROLEUM & CHEM-ADR ADR 16941R108 1,978 32,976 SH   DFND   32,976 0 0
CHINA TELECOM CORP LTD-ADR ADR 169426103 2,356 50,715 SH   DFND   50,715 0 0
CHINA UNICOM HONG KONG-ADR ADR 16945R104 2,969 246,157 SH   DFND   246,157 0 0
GUGGENHEIM S&P GLOBAL DIVIDE ETP 18383M860 757 86,739 SH   DFND   86,739 0 0
GUGGENHEIM INTERNATIONAL MUL ETP 18383Q804 559 39,167 SH   DFND   39,167 0 0
GUGGENHEIM FRONTIER MARKETS ETP 18383Q838 716 66,896 SH   DFND   66,896 0 0
GUGGENHEIM CHINA SMALL CAP E ETP 18383Q853 1,022 42,275 SH   DFND   42,275 0 0
COCA-COLA FEMSA SAB-SP ADR ADR 191241108 888 12,539 SH   DFND   12,539 0 0
CEMIG SA -SPONS ADR ADR 204409601 428 285,259 SH   DFND   285,259 0 0
CIA SIDERURGICA NACL-SP ADR ADR 20440W105 25 25,705 SH   DFND   25,705 0 0
CIA DE MINAS BUENAVENTUR-ADR ADR 204448104 351 82,106 SH   DFND   82,106 0 0
VELOCITYSHARES 3X LG NAT GAS ETP 22542D381 216 88,453 SH   DFND   88,453 0 0
VELOCITYSHARES 3X LONG CRUDE ETP 22542D399 287 72,637 SH   DFND   72,637 0 0
DEUTSCHE X-TRACKERS MSCI EME ETP 233051101 2,795 152,912 SH   DFND   152,912 0 0
DEUTSCHE X-TRACKERS MSCI EAF ETP 233051200 18,917 696,518 SH   DFND   696,518 0 0
DEUTSCHE X-TRACKERS MSCI SOU ETP 233051812 6,405 285,795 SH   DFND   285,795 0 0
DEUTSCHE X-TRACKERS MSCI EUR ETP 233051853 22,275 861,704 SH   DFND   861,704 0 0
DB AGRICULTURE DOUBLE LONG ETP 25154H558 314 96,079 SH   DFND   96,079 0 0
DB BASE METALS DOUBLE LONG ETP 25154K841 76 18,616 SH   DFND   18,616 0 0
DB BASE METALS DOUBLE SHORT ETP 25154K858 283 11,148 SH   DFND   11,148 0 0
DIAGEO PLC-SPONSORED ADR ADR 25243Q205 12,243 112,249 SH   DFND   112,249 0 0
DRXN D CSI CH A-SHR BEAR 1X ETP 25459Y116 8,094 192,074 SH   DFND   192,074 0 0
DRDGOLD LTD-SPONSORED ADR ADR 26152H301 175 109,412 SH   DFND   109,412 0 0
EGSHARES EM QUALITY DIVIDEND ETP 268461654 1,088 94,829 SH   DFND   94,829 0 0
EGSHARES INDIA CONSUMER ETF ETP 268461761 505 15,741 SH   DFND   15,741 0 0
EGSHARES EM CONSUMER ETF ETP 268461779 2,111 99,311 SH   DFND   99,311 0 0
EGSHARES INDIA SMALL CAP ETF ETP 268461811 789 50,260 SH   DFND   50,260 0 0
EGSHARES INDIA INFRA ETF ETP 268461845 533 50,540 SH   DFND   50,540 0 0
ENI SPA-SPONSORED ADR ADR 26874R108 472 15,832 SH   DFND   15,832 0 0
VIDENT INTERNATIONAL EQUITY ETP 26922A404 430 21,432 SH   DFND   21,432 0 0
EMPIRE STATE REALTY OP LP-ES Ltd Part 292102100 467 25,899 SH   DFND   25,899 0 0
EMPIRE STATE REALTY OP-S60 Ltd Part 292102209 243 13,579 SH   DFND   13,579 0 0
EMPRESAS ICA S.A. -SPONS ADR ADR 292448206 75 97,893 SH   DFND   97,893 0 0
DELHAIZE GROUP - SPONS ADR ADR 29759W101 963 39,639 SH   DFND   39,639 0 0
FIBRIA CELULOSE SA-SPON ADR ADR 31573A109 284 22,387 SH   DFND   22,387 0 0
FIRST TRUST ISE CHINDIA INDE ETP 33733A102 286 10,075 SH   DFND   10,075 0 0
FIRST TRUST BICK INDEX FUND ETP 33733H107 651 34,536 SH   DFND   34,536 0 0
FIRST TRUST DJ GL SEL DVD ETP 33734X200 213 9,803 SH   DFND   9,803 0 0
FIRST TRUST NASDAQ CYBERSECU ETP 33734X846 183 10,293 SH   DFND   10,293 0 0
FIRST TRUST STOXX EUROPE ETP 33735T109 318 26,116 SH   DFND   26,116 0 0
FT FTSE EPRA/NAREIT REAL EST ETP 33736N101 738 17,289 SH   DFND   17,289 0 0
FIRST TRUST ASIA PAC EX-JAPN ETP 33737J109 353 12,876 SH   DFND   12,876 0 0
FIRST TRUST GERMANY ETP 33737J190 1,468 40,530 SH   DFND   40,530 0 0
FIRST TRUST UNITED KINGDOM ETP 33737J224 817 20,348 SH   DFND   20,348 0 0
FIRST TRUST SWITZERLAND ETP 33737J232 1,342 33,458 SH   DFND   33,458 0 0
FIRST TRUST TAIWAN ETP 33737J257 614 21,592 SH   DFND   21,592 0 0
FIRST TRUST EMERGING MARKETS ETP 33737J307 3,134 115,814 SH   DFND   115,814 0 0
FIRST TRUST DW FOCUS 5 INTL ETP 33738R886 958 53,561 SH   DFND   53,561 0 0
FIRST TRUST GLOBAL TACTICAL ETP 33739H101 999 49,184 SH   DFND   49,184 0 0
FLEXSHARES GLOBAL UPSTREAM N ETP 33939L407 927 41,664 SH   DFND   41,664 0 0
FLEXSHARES MORNINGSTAR DEVEL ETP 33939L803 390 7,076 SH   DFND   7,076 0 0
FLEXSHARES-INT QUAL DVD DEFE ETP 33939L811 2,332 110,590 SH   DFND   110,590 0 0
FLEXSHARES-INT QUAL DVD INDE ETP 33939L837 1,474 68,504 SH   DFND   68,504 0 0
FOMENTO ECONOMICO MEX-SP ADR ADR 344419106 482 5,214 SH   DFND   5,214 0 0
GERDAU SA -SPON ADR ADR 373737105 205 170,868 SH   DFND   170,868 0 0
GLOBAL X FTSE PORTUGAL 20 ET ETP 37950E192 330 32,640 SH   DFND   32,640 0 0
GLOBAL X MSCI COLOMBIA ETF ETP 37950E200 102 13,610 SH   DFND   13,610 0 0
GLOBAL X CHINA ENERGY ETF ETP 37950E507 130 12,909 SH   DFND   12,909 0 0
GLOBAL X SUPERDIVIDEND ETF ETP 37950E549 4,337 219,936 SH   DFND   219,936 0 0
GLOBAL X CHINA INDUSTRIALS ETP 37950E705 237 18,704 SH   DFND   18,704 0 0
GLOBAL X MSCI NORWAY ETF ETP 37950E747 258 26,624 SH   DFND   26,624 0 0
GLOBAL X NASDAQ CHINA TECH ETP 37950E804 454 19,751 SH   DFND   19,751 0 0
GLOBAL X SILVER MINERS ETF ETP 37954Y848 981 53,016 SH   DFND   53,016 0 0
GOL LINHAS AEREAS INTEL-ADR ADR 38045R107 12 21,670 SH   DFND   21,670 0 0
GOLD FIELDS LTD-SPONS ADR ADR 38059T106 2,271 819,943 SH   DFND   819,943 0 0
GS CONNECT S&P GSCI ENH COMM ETP 38144L852 227 11,282 SH   DFND   11,282 0 0
WISDOMTREE CONTINUOUS COMMOD ETP 97718W108 433 23,395 SH   DFND   23,395 0 0
GRIFOLS SA-ADR ADR 398438408 205 6,338 SH   DFND   6,338 0 0
GRUPO SIMEC SAB-SPON ADR ADR 400491106 101 15,136 SH   DFND   15,136 0 0
GRUPO AEROPORTUARIO CEN-ADR ADR 400501102 277 7,207 SH   DFND   7,207 0 0
GRUPO FIN SANTANDER-ADR B ADR 40053C105 1,335 153,975 SH   DFND   153,975 0 0
HSBC HOLDINGS PLC-SPONS ADR ADR 404280406 441 11,164 SH   DFND   11,164 0 0
HECLA MINING CO Common Stock 422704106 223 118,156 SH   DFND   118,156 0 0
HONDA MOTOR CO LTD-SPONS ADR ADR 438128308 369 11,544 SH   DFND   11,544 0 0
HUANENG POWER INTL-SPONS ADR ADR 443304100 407 11,873 SH   DFND   11,873 0 0
IQ AUSTRALIA SMALL CAP ETF ETP 45409B826 166 12,462 SH   DFND   12,462 0 0
ING GROEP N.V.-SPONSORED ADR ADR 456837103 900 66,895 SH   DFND   66,895 0 0
INTERCONTINENTAL HOTELS-ADR ADR 45857P509 1,781 45,972 SH   DFND   45,972 0 0
ISHARES MSCI AUSTRALIA ETF ETP 464286103 1,489 78,536 SH   DFND   78,536 0 0
ISHARES MSCI FRONTIER 100 ETP 464286145 603 24,225 SH   DFND   24,225 0 0
ISHARES ASIA/PACIFIC DIVIDEN ETP 464286293 636 16,209 SH   DFND   16,209 0 0
ISHARES MSCI BELGIUM CAPPED ETP 464286301 904 50,036 SH   DFND   50,036 0 0
ISHARES MSCI GLOBAL GOLD MIN ETP 464286335 184 33,612 SH   DFND   33,612 0 0
ISHARES MSCI EMERGING MARKET ETP 464286426 4,371 86,733 SH   DFND   86,733 0 0
ISHARES MSCI ALL COUNTRY WOR ETP 464286525 1,265 18,263 SH   DFND   18,263 0 0
ISHARES MSCI JAPAN SMALL-CAP ETP 464286582 703 12,027 SH   DFND   12,027 0 0
ISHARES MSCI CHILE CAPPED ET ETP 464286640 1,060 33,218 SH   DFND   33,218 0 0
ISHARES MSCI BRIC ETF ETP 464286657 3,115 106,430 SH   DFND   106,430 0 0
ISHARES MSCI PACIFIC EX JAPA ETP 464286665 7,761 202,150 SH   DFND   202,150 0 0
ISHARES MSCI SINGAPORE ETF ETP 464286673 1,929 187,629 SH   DFND   187,629 0 0
ISHARES MSCI FRANCE ETF ETP 464286707 6,060 250,311 SH   DFND   250,311 0 0
ISHARES MSCI SWITZERLAND CAP ETP 464286749 8,521 274,524 SH   DFND   274,524 0 0
ISHARES MSCI SWEDEN ETF ETP 464286756 893 30,589 SH   DFND   30,589 0 0
ISHARES MSCI SPAIN CAPPED ET ETP 464286764 7,244 256,249 SH   DFND   256,249 0 0
ISHARES MSCI SOUTH KOREA CAP ETP 464286772 1,072 21,592 SH   DFND   21,592 0 0
ISHARES MSCI NETHERLANDS ETF ETP 464286814 2,648 111,083 SH   DFND   111,083 0 0
ISHARES MSCI MEXICO CAPPED ETP 464286822 2,452 49,208 SH   DFND   49,208 0 0
ISHARES MSCI MALAYSIA ETF ETP 464286830 660 85,321 SH   DFND   85,321 0 0
ISHARES S&P 100 ETF ETP 464287101 429 4,702 SH   DFND   4,702 0 0
ISHARES LATIN AMERICA 40 ETF ETP 464287390 4,939 233,070 SH   DFND   233,070 0 0
ISHARES GLOBAL 100 ETF ETP 464287572 446 6,123 SH   DFND   6,123 0 0
ISHARES EMERGING MARKETS INF ETP 464288216 219 8,023 SH   DFND   8,023 0 0
ISHARES MSCI ACWI EX US ETF ETP 464288240 1,375 34,725 SH   DFND   34,725 0 0
ISHARES MSCI KOKUSAI ETF ETP 464288265 678 13,102 SH   DFND   13,102 0 0
ISHARES ASIA 50 ETF ETP 464288430 2,205 52,162 SH   DFND   52,162 0 0
ISHARES INTERNATIONAL SELECT ETP 464288448 7,288 253,852 SH   DFND   253,852 0 0
ISHARES GLOBAL CONSUMER DISC ETP 464288745 208 2,332 SH   DFND   2,332 0 0
ISHARES MSCI EAFE VALUE ETF ETP 464288877 235 5,043 SH   DFND   5,043 0 0
ISHARES MSCI EUROPE FINANCIA ETP 464289180 305 15,033 SH   DFND   15,033 0 0
ISHARES INDIA 50 ETF ETP 464289529 24,777 911,248 SH   DFND   911,248 0 0
ISHARES MSCI ALL PERU CAPPED ETP 464289842 269 13,346 SH   DFND   13,346 0 0
ISHARES MSCI INDONESIA ETF ETP 46429B309 2,430 116,414 SH   DFND   116,414 0 0
ISHARES MSCI PHILIPPINES ETF ETP 46429B408 1,067 31,615 SH   DFND   31,615 0 0
ISHARES MSCI UNITED KINGDOM ETP 46429B416 283 7,152 SH   DFND   7,152 0 0
ISHARES MSCI FINLAND CAPPED ETP 46429B515 239 7,321 SH   DFND   7,321 0 0
ISHARES MSCI DENMARK CAPPED ETP 46429B523 2,529 45,280 SH   DFND   45,280 0 0
ISHARES MSCI POLAND CAPPED E ETP 46429B606 1,534 84,848 SH   DFND   84,848 0 0
ISHARES MSCI INDIA SMALL-CAP ETP 46429B614 456 13,697 SH   DFND   13,697 0 0
ISHARES MSCI EAFE MINIMUM VO ETP 46429B689 1,610 24,818 SH   DFND   24,818 0 0
ISHARES CORE MSCI EMERGING ETP 46434G103 10,763 273,247 SH   DFND   273,247 0 0
ISHARES MSCI RUSSIA CAPPED E ETP 46434G806 2,306 207,179 SH   DFND   207,179 0 0
ISHA HEDGED MSCI GERMANY ETP 46434V704 1,916 78,634 SH   DFND   78,634 0 0
ISHARES MSCI EUROPE MIN VOL ETP 46434V720 233 9,875 SH   DFND   9,875 0 0
ISHA CURR HEDGED MSCI JAPAN ETP 46434V886 982 34,243 SH   DFND   34,243 0 0
ITAU UNIBANCO H-SPON PRF ADR ADR 465562106 3,380 519,230 SH   DFND   519,230 0 0
KRANESHARES CSI CHINA INTERN ETP 500767306 1,507 39,220 SH   DFND   39,220 0 0
KYOCERA CORP -SPONS ADR ADR 501556203 210 4,551 SH   DFND   4,551 0 0
LUXOTTICA GROUP SPA-SPON ADR ADR 55068R202 1,912 29,483 SH   DFND   29,483 0 0
MARINE HARVEST ASA- SPON ADR ADR 56824R205 2,168 164,490 SH   DFND   164,490 0 0
MARKET VECTORS RUSSIA ETF ETP 57060U506 1,537 104,914 SH   DFND   104,914 0 0
MARKET VECTORS CHINAAMC A-SH ETP 57060U597 226 5,117 SH   DFND   5,117 0 0
MARKET VECTORS INDONESIA IND ETP 57060U753 573 31,109 SH   DFND   31,109 0 0
MARKET VECTORS VIETNAM ETF ETP 57060U761 370 25,031 SH   DFND   25,031 0 0
MARKET VECTORS GULF STATES ETP 57060U779 228 10,632 SH   DFND   10,632 0 0
MARKET VECTORS CHINA AMC SME ETP 57061R361 487 11,803 SH   DFND   11,803 0 0
MIX TELEMATICS LTD-SP ADR ADR 60688N102 86 20,419 SH   DFND   20,419 0 0
NEWMONT MINING CORP Common Stock 651639106 1,457 81,015 SH   DFND   81,015 0 0
NOKIA CORP-SPON ADR ADR 654902204 3,529 502,647 SH   DFND   502,647 0 0
NOMURA HOLDINGS INC-SPON ADR ADR 65535H208 533 96,119 SH   DFND   96,119 0 0
NOVARTIS AG-SPONSORED ADR ADR 66987V109 10,193 118,469 SH   DFND   118,469 0 0
NOVO-NORDISK A/S-SPONS ADR ADR 670100205 2,836 48,821 SH   DFND   48,821 0 0
OI SA-ADR ADR 670851401 9 18,806 SH   DFND   18,806 0 0
ORANGE-SPON ADR ADR 684060106 3,455 207,772 SH   DFND   207,772 0 0
PEARSON PLC-SPONSORED ADR ADR 705015105 3,991 370,245 SH   DFND   370,245 0 0
PETROCHINA CO LTD -ADR ADR 71646E100 899 13,702 SH   DFND   13,702 0 0
POWERSHARES INDIA PORTFOLIO ETP 73935L100 545 27,918 SH   DFND   27,918 0 0
POWERSHARES DB COMMODITY IND ETP 73935S105 1,086 81,296 SH   DFND   81,296 0 0
POWERSHARES GLD DRG CHINA ETP 73935X401 294 8,946 SH   DFND   8,946 0 0
POWERSHARES INTER DVD ACHIEV ETP 73935X716 581 42,815 SH   DFND   42,815 0 0
POWERSHARES DB ENERGY FUND ETP 73936B101 129 11,502 SH   DFND   11,502 0 0
POWERSHARES DB AGRICULTURE F ETP 73936B408 1,421 68,956 SH   DFND   68,956 0 0
POWERSHARES DB BASE METALS F ETP 73936B705 443 37,316 SH   DFND   37,316 0 0
POWERSHARES DWA DEVELOPED MA ETP 73936Q108 536 22,595 SH   DFND   22,595 0 0
POWERSHARES DWA EMERGING MAR ETP 73936Q207 2,212 147,965 SH   DFND   147,965 0 0
POWERSHARES FTSE RAFI EM MKT ETP 73936T763 255 18,288 SH   DFND   18,288 0 0
POWERSHARES FTSE RAFI DV S-M ETP 73936T771 428 16,522 SH   DFND   16,522 0 0
POWERSHARES ASIA EX-JAPAN ETP 73936T854 217 5,039 SH   DFND   5,039 0 0
POWERSHARES S&P EM-MK LOW VO ETP 73937B662 344 16,938 SH   DFND   16,938 0 0
POWERSHARES S&P INT DEV LOW ETP 73937B688 209 7,298 SH   DFND   7,298 0 0
POWERSHARES S&P INT HIGHBETA ETP 73937B696 263 11,397 SH   DFND   11,397 0 0
PRUDENTIAL PLC-ADR ADR 74435K204 1,653 36,666 SH   DFND   36,666 0 0
RANDGOLD RESOURCES LTD-ADR ADR 752344309 3,081 49,747 SH   DFND   49,747 0 0
RIO TINTO PLC-SPON ADR ADR 767204100 10,997 377,656 SH   DFND   377,656 0 0
ROYAL BANK OF SCOT-SPON ADR ADR 780097689 566 63,793 SH   DFND   63,793 0 0
ROYAL DUTCH SHELL-SPON ADR-A ADR 780259206 4,633 101,186 SH   DFND   101,186 0 0
ROYAL GOLD INC Common Stock 780287108 805 22,085 SH   DFND   22,085 0 0
SPDR STOXX EUROPE 50 ETF ETP 78463X103 244 7,682 SH   DFND   7,682 0 0
SPDR S&P EMERGING ASIA PACIF ETP 78463X301 1,434 19,481 SH   DFND   19,481 0 0
SPDR S&P CHINA ETF ETP 78463X400 571 7,770 SH   DFND   7,770 0 0
SPDR S&P EMG MARKETS ETF ETP 78463X509 2,464 47,318 SH   DFND   47,318 0 0
SPDR S&P EMERGING MARKETS DI ETP 78463X533 653 27,513 SH   DFND   27,513 0 0
SPDR S&P INTER DVD ETF ETP 78463X772 1,040 31,169 SH   DFND   31,169 0 0
SPDR S&P BRIC 40 ETF ETP 78463X798 252 13,522 SH   DFND   13,522 0 0
SPDR RUSSELL/NOMURA S/C JPN ETP 78463X822 234 4,309 SH   DFND   4,309 0 0
SPDR MSCI ACWI EX-US ETP 78463X848 718 23,305 SH   DFND   23,305 0 0
SPDR S&P WORLD EX-US ETF ETP 78463X889 329 12,770 SH   DFND   12,770 0 0
SANOFI-ADR ADR 80105N105 1,907 44,708 SH   DFND   44,708 0 0
SASOL LTD-SPONSORED ADR ADR 803866300 3,047 113,619 SH   DFND   113,619 0 0
SCHWAB EMERGING MARKETS EQUI ETP 808524706 5,359 274,664 SH   DFND   274,664 0 0
SCHWAB INTL EQUITY ETF ETP 808524805 1,074 38,978 SH   DFND   38,978 0 0
SEMICONDUCTOR MANUFACT-ADR ADR 81663N206 478 94,555 SH   DFND   94,555 0 0
SIBANYE GOLD- SPON ADR ADR 825724206 2,288 375,639 SH   DFND   375,639 0 0
STATOIL ASA-SPON ADR ADR 85771P102 10,264 735,242 SH   DFND   735,242 0 0
STMICROELECTRONICS NV-NY SHS NY Reg Shrs 861012102 1,071 160,846 SH   DFND   160,846 0 0
ELEMENTS ROGERS ENERGY TR ETP 870297306 226 96,926 SH   DFND   96,926 0 0
ELEMENTS ROGERS AGRI TOT RET ETP 870297603 65 10,336 SH   DFND   10,336 0 0
ELEMENTS ROGERS TOTAL RETURN ETP 870297801 211 45,621 SH   DFND   45,621 0 0
TAIWAN SEMICONDUCTOR-SP ADR ADR 874039100 4,889 214,908 SH   DFND   214,908 0 0
TELECOM ITALIA SPA-SPON ADR ADR 87927Y102 948 74,974 SH   DFND   74,974 0 0
TELEFONICA SA-SPON ADR ADR 879382208 9,674 874,687 SH   DFND   874,687 0 0
TENARIS SA-ADR ADR 88031M109 8,372 351,785 SH   DFND   351,785 0 0
TEVA PHARMACEUTICAL-SP ADR ADR 881624209 2,663 40,575 SH   DFND   40,575 0 0
TOTAL SA-SPON ADR ADR 89151E109 11,924 265,263 SH   DFND   265,263 0 0
TOYOTA MOTOR CORP -SPON ADR ADR 892331307 3,745 30,440 SH   DFND   30,440 0 0
TURKCELL ILETISIM HIZMET-ADR ADR 900111204 2,472 291,171 SH   DFND   291,171 0 0
E-TRACS BLOOMBERG COMMODITY ETP 902641679 723 50,837 SH   DFND   50,837 0 0
UNILEVER N V -NY SHARES NY Reg Shrs 904784709 3,702 85,463 SH   DFND   85,463 0 0
UNITED STATES COMMODITY INDE ETP 911717106 256 6,332 SH   DFND   6,332 0 0
VALE SA-SP PREF ADR ADR 91912E204 424 166,342 SH   DFND   166,342 0 0
VANGUARD TOTAL INTL STOCK ETP 921909768 222 4,930 SH   DFND   4,930 0 0
VANGUARD TOT WORLD STK ETF ETP 922042742 5,553 96,367 SH   DFND   96,367 0 0
VANGUARD FTSE ALL-WORLD EX-U ETP 922042775 537 12,368 SH   DFND   12,368 0 0
VODAFONE GROUP PLC-SP ADR ADR 92857W308 15,036 466,097 SH   DFND   466,097 0 0
WESTPAC BANKING CORP-SP ADR ADR 961214301 1,433 59,135 SH   DFND   59,135 0 0
WISDOMTREE EM SMALL CAP ETP 97717W281 5,172 147,505 SH   DFND   147,505 0 0
WISDOMTREE UNITED KINGDOM ETP 97717W349 419 18,149 SH   DFND   18,149 0 0
WISDOM TREE KOREA HEDGED EQU ETP 97717W372 574 28,797 SH   DFND   28,797 0 0
WISDOMTREE INDIA EARNINGS ETP 97717W422 8,073 406,513 SH   DFND   406,513 0 0
WISDOMTREE GERMANY HEDGED EQ ETP 97717W448 7,498 281,666 SH   DFND   281,666 0 0
WISDOMTREE INTERNATIONAL EQU ETP 97717W703 205 4,391 SH   DFND   4,391 0 0
WISDOMTREE INTL S/C DVD FUND ETP 97717W760 319 5,485 SH   DFND   5,485 0 0
WISDOMTREE INTL M/C DVD FUND ETP 97717W778 428 7,709 SH   DFND   7,709 0 0
WISDOMTREE INTL DVD EX-FIN ETP 97717W786 578 15,205 SH   DFND   15,205 0 0
WISDOMTREE INTERNATIONAL HIG ETP 97717W802 567 15,019 SH   DFND   15,019 0 0
WISDOMTREE AUSTRALIA DIVIDEN ETP 97717W810 445 9,974 SH   DFND   9,974 0 0
YANZHOU COAL MINING-SP ADR ADR 984846105 86 18,716 SH   DFND   18,716 0 0
DEUTSCHE X-TRACKERS MSCI JAP ETP 233051507 6,845 179,696 SH   DFND   179,696 0 0
WISDOMTREE JAPAN HEDGED EQ ETP 97717W851 62,907 1,256,127 SH   DFND   1,256,127 0 0
ISHARES MSCI EMERGING MARKET ETP 464287234 55,861 1,735,347 SH   DFND   1,735,347 0 0
ISHARES MSCI HONG KONG ETF ETP 464286871 2,316 116,841 SH   DFND   116,841 0 0
ISHARES MSCI ITALY CAPPED ET ETP 464286855 6,491 472,440 SH   DFND   472,440 0 0
ISHARES MSCI UNITED KINGDOM ETP 46434V548 12,373 766,576 SH   DFND   766,576 0 0
ISHARES MSCI BRAZIL CAPPED E ETP 464286400 17,251 834,186 SH   DFND   834,186 0 0
ISHARES MSCI EUROZONE ETF ETP 464286608 8,545 243,857 SH   DFND   243,857 0 0
SPDR EURO STOXX 50 ETF ETP 78463X202 367 10,662 SH   DFND   10,662 0 0
ISHARES CHINA LARGE-CAP ETF ETP 464287184 79,528 2,253,554 SH   DFND   2,253,554 0 0
ISHARES CORE S&P 500 ETF ETP 464287200 239 1,168 SH   DFND   1,168 0 0
ISHARES MSCI CHINA ETF ETP 46429B671 1,783 39,964 SH   DFND   39,964 0 0
SPDR S&P 500 ETF TRUST ETP 78462F103 3,788 18,582 SH   DFND   18,582 0 0