Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
—	POWERSHARES ETF TRUST	1,265,000	$52.33M	22.2%	$41.37	$41.37	—	DWA MOMENTUM PTF	73935X153
FBT	FIRST TR EXCHANGE TRADED FD	156,463	$17.68M	7.5%	$113.02	$107.67	+5.0%	NY ARCA BIOTECH	33733E203
FDN	FIRST TR EXCHANGE TRADED FD	229,261	$17.11M	7.3%	$74.61	$74.09	+0.7%	DJ INTERNT IDX	33733E302
FXG	FIRST TR EXCHANGE TRADED FD	362,657	$16.12M	6.8%	$44.45	$43.68	+1.8%	CONSUMR STAPLE	33734X119
FXH	FIRST TR EXCHANGE TRADED FD	258,957	$15.65M	6.6%	$60.45	$59.72	+1.2%	HLTH CARE ALPH	33734X143
FXD	FIRST TR EXCHANGE TRADED FD	432,300	$14.74M	6.3%	$34.10	$35.07	-2.8%	CONSUMR DISCRE	33734X101
GBF	ISHARES TR	110,508	$12.53M	5.3%	$113.42	$112.66	-0.8%	GOV/CRED BD ETF	464288596
IEF	ISHARES TR	118,127	$12.47M	5.3%	$105.59	$106.60	-1.0%	7-10 Y TR BD ETF	464287440
TLH	ISHARES TR	91,213	$12.24M	5.2%	$134.21	$135.52	-1.0%	10-20 YR TRS ETF	464288653
LQD	ISHARES TR	107,178	$12.22M	5.2%	$114.01	$115.61	-1.4%	IBOXX INV CP ETF	464287242
IGIB	ISHARES TR	107,994	$11.59M	4.9%	$107.28 *	$54.12	-0.9%	INTERM CR BD ETF	464288638
EFAV	ISHARES TR	173,516	$11.26M	4.8%	$64.87	$65.17	-0.5%	EAFE MIN VOL ETF	46429B689
EEMV	ISHARES	161,231	$7.846M	3.3%	$48.66	$51.08	-4.7%	EM MK MINVOL ETF	464286533
NUE	NUCOR CORP	123,370	$4.749M	2.0%	$38.49 *	$32.43	-1.0%	COM	670346105
IDCC	INTERDIGITAL INC	77,329	$3.377M	1.4%	$43.67 *	$50.76	-3.4%	COM	45867G101
EL	LAUDER ESTEE COS INC	18,556	$1.578M	0.7%	$85.04 *	$74.79	+3.6%	CL A	518439104
EEM	ISHARES TR	42,845	$1.379M	0.6%	$32.19	$34.29	-6.1%	MSCI EMG MKT ETF	464287234
AGG	ISHARES TR	8,128	$878K	0.4%	$108.02	$108.85	-0.8%	CORE US AGGBD ET	464287226
VEA	VANGUARD TAX MANAGED INTL FD	20,131	$739K	0.3%	$36.71	$37.50	-2.1%	FTSE DEV MKT ETF	921943858
MDY	SPDR S&P MIDCAP 400 ETF TR	2,835	$720K	0.3%	$253.97	$260.23	-2.4%	UTSER1 S&PDCRP	78467Y107
—	ARROW INVTS TR	62,298	$617K	0.3%	$9.90	$9.90	—	DWA TACTICAL ETF	042765792
XLK	SELECT SECTOR SPDR TR	14,350	$615K	0.3%	$42.86 *	$21.53	-0.5%	TECHNOLOGY	81369Y803
XLV	SELECT SECTOR SPDR TR	8,461	$609K	0.3%	$71.98	$70.66	+1.9%	SBI HEALTHCARE	81369Y209
IWB	ISHARES TR	5,183	$587K	0.2%	$113.25	$114.34	-0.9%	RUS 1000 ETF	464287622
SPY	SPDR S&P 500 ETF TR	2,383	$486K	0.2%	$203.94	$205.36	-0.7%	TR UNIT	78462F103
BRK/B	BERKSHIRE HATHAWAY INC DEL	3,385	$425K	0.2%	$125.55 *	$134.20	-1.6%	CL B NEW	084670702
—	ANNALY CAP MGMT INC	42,000	$405K	0.2%	$9.64	$9.64	—	COM	035710409
—	BLACKROCK MUN INCOME TR	26,399	$389K	0.2%	$14.74	$14.74	—	SH BEN INT	09248F109
AAPL	APPLE INC	4,036	$381K	0.2%	$94.40 *	$25.73	-7.8%	COM	037833100
—	PROSHARES TR	9,898	$367K	0.2%	$37.08	$37.08	—	ALTRNTV SOLUTN	74347B813
VNQI	VANGUARD INTL EQUITY INDEX F	6,388	$326K	0.1%	$51.03	$52.56	-2.8%	GLB EX US ETF	922042676
LNC	LINCOLN NATL CORP IND	8,080	$303K	0.1%	$37.50 *	$35.70	-3.9%	COM	534187109
CWB	SPDR SERIES TRUST	6,797	$294K	0.1%	$43.25	$45.78	-5.5%	BRC CNV SECS ETF	78464A359
IJR	ISHARES TR	2,388	$263K	0.1%	$110.13 *	$56.35	-2.3%	CORE S&P SCP ETF	464287804
—	BRYN MAWR BK CORP	10,096	$258K	0.1%	$25.55	$25.55	—	COM	117665109
VDE	VANGUARD WORLD FDS	3,008	$250K	0.1%	$83.11	$91.20	-8.9%	ENERGY ETF	92204A306
XLP	SELECT SECTOR SPDR TR	4,896	$247K	0.1%	$50.45	$49.70	+1.6%	SBI CONS STPLS	81369Y308
VWO	VANGUARD INTL EQUITY INDEX F	7,074	$231K	0.1%	$32.65	$34.42	-5.0%	FTSE EMR MKT ETF	922042858
VNQ	VANGUARD INDEX FDS	2,776	$221K	0.1%	$79.61	$79.16	+0.7%	REIT ETF	922908553
AOA	ISHARES	4,635	$208K	0.1%	$44.88	$45.57	-1.6%	AGGRES ALLOC ETF	464289859
—	INVESCO TR INVT GRADE MUNS	15,000	$200K	0.1%	$13.33	$13.33	—	COM	46131M106
—	BLACKROCK MUNIHLDS INVSTM QL	10,000	$145K	0.1%	$14.50	$14.50	—	COM	09254P108
—	INVESCO MUN OPPORTUNITY TR	10,000	$132K	0.1%	$13.20	$13.20	—	COM	46132C107
—	INVESCO ADVANTAGE MUNICIPAL	10,000	$118K	0.1%	$11.80	$11.80	—	SH BEN INT	46132E103
—	ISHARES TR	10,984	$105K	0.0%	$9.56	$9.56	—	MRG RL ES CP ETF	464288539
—	HI-CRUSH PARTNERS LP	10,000	$61,000	0.0%	$6.10	$6.10	—	COM UNIT LTD	428337109