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
HIGHLAND FDS I HI LD IBOXX SRLN 430101774 2,747 148,000 SH   DFND 2 148,000 0 0
ISHARES TR MSCI ACWI ETF 464288257 10,043 158,750 SH   DFND 1 158,750 0 0
ISHARES TR MSCI ACWI EX US 464288240 10,006 229,383 SH   DFND 1 229,383 0 0
ISHARES TR MSCI EMG MKT ETF 464287234 9,911 251,611 SH   DFND 1 251,611 0 0
ISHARES TR MSCI EAFE ETF 464287465 10,030 161,026 SH   DFND 1 161,026 0 0
ISHARES TR CORE S&P500 ETF 464287200 10,106 42,594 SH   DFND 1 42,594 0 0
ISHARES TR RUS 1000 ETF 464287622 10,109 77,021 SH   DFND 1 77,021 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 10,258 74,618 SH   DFND 1 74,618 0 0
ISHARES TR RUS MID-CAP ETF 464287499 10,138 54,164 SH   DFND 1 54,164 0 0
ISHARES TR U.S. REAL ES ETF 464287739 10,097 128,639 SH   DFND 1 128,639 0 0
ISHARES TR EAFE SML CP ETF 464288273 9,997 184,645 SH   DFND 1 184,645 0 0
ISHARES TR U.S. PFD STK ETF 464288687 2,864 74,000 SH   DFND 2 74,000 0 0
PIMCO ETF TR 0-5 HIGH YIELD 72201R783 470 4,650 SH   DFND 2 4,650 0 0
SPDR SER TR BLOOMBERG SRT 78468R408 5,788 207,000 SH   DFND 2 207,000 0 0