ALLIANCE DATA SYSTEMS CORP COM 018581108 4185 37340 SH DFND 37340 0 0 ALLY FINL INC COM 02005N100 4061 89817 SH DFND 89817 0 0 AMERICAN EXPRESS CO COM 025816109 5353 37844 SH DFND 37844 0 0 ARCH CAP GROUP LTD ORD G0450A105 4705 122616 SH DFND 122616 0 0 BOEING CO COM 097023105 6241 24500 SH DFND 24500 0 0 CAPITAL ONE FINL CORP COM 14040H105 4045 31790 SH DFND 31790 0 0 CARTERS INC COM 146229109 3059 34400 SH DFND 34400 0 0 SELECT SECTOR SPDR TR SBI CONS DISCR 81369Y407 5042 30000 SH DFND 30000 0 0 DELTA AIR LINES INC DEL COM NEW 247361702 6218 128800 SH DFND 128800 0 0 DISCOVER FINL SVCS COM 254709108 3978 41882 SH DFND 41882 0 0 SELECT SECTOR SPDR TR ENERGY 81369Y506 34754 708400 SH DFND 708400 0 0 ESSENT GROUP LTD COM G3198U102 4960 104450 SH DFND 104450 0 0 SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 490079 14392935 SH DFND 14392935 0 0 GENERAL DYNAMICS CORP COM 369550108 6355 35000 SH DFND 35000 0 0 HUNTSMAN CORP COM 447011107 3166 109800 SH DFND 109800 0 0 ISHARES TR MSCI UK ETF NEW 46435G334 11047 352840 SH DFND 352840 0 0 ISHARES TR RUS 2000 GRW ETF 464287648 58043 193000 SH DFND 193000 0 0 KINDER MORGAN INC DEL COM 49456B101 11089 666000 SH DFND 666000 0 0 L3HARRIS TECHNOLOGIES INC COM 502431109 6283 31000 SH DFND 31000 0 0 LOCKHEED MARTIN CORP COM 539830109 15150 41000 SH DFND 41000 0 0 LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 6014 57800 SH DFND 57800 0 0 MARRIOTT INTL INC NEW CL A 571903202 6132 41400 SH DFND 41400 0 0 MARTIN MARIETTA MATLS INC COM 573284106 6179 18400 SH DFND 18400 0 0 MGIC INVT CORP WIS COM 552848103 5610 368857 SH DFND 368857 0 0 NMI HLDGS INC CL A 629209305 2410 101928 SH DFND 101928 0 0 ONEMAIN HLDGS INC COM 68268W103 3985 74175 SH DFND 74175 0 0 ONEOK INC NEW COM 682680103 6282 124000 SH DFND 124000 0 0 PPG INDS INC COM 693506107 6025 40100 SH DFND 40100 0 0 PRUDENTIAL FINL INC COM 744320102 6058 66500 SH DFND 66500 0 0 RADIAN GROUP INC COM 750236101 4223 181653 SH DFND 181653 0 0 RAYTHEON TECHNOLOGIES CORP COM 75513E101 14140 183000 SH DFND 183000 0 0 REGIONS FINANCIAL CORP NEW COM 7591EP100 6076 294100 SH DFND 294100 0 0 ROYAL CARIBBEAN GROUP COM V7780T103 6061 70800 SH DFND 70800 0 0 SANTANDER CONSUMER USA HDG COM 80283M101 2731 100918 SH DFND 100918 0 0 SL GREEN RLTY CORP COM 78440X804 6530 93300 SH DFND 93300 0 0 SYNCHRONY FINANCIAL COM 87165B103 5314 130689 SH DFND 130689 0 0 SYSCO CORP COM 871829107 6008 76300 SH DFND 76300 0 0 UNITED RENTALS INC COM 911363109 6389 19400 SH DFND 19400 0 0 US FOODS HLDG CORP COM 912008109 3126 82000 SH DFND 82000 0 0 VANECK VECTORS ETF TR OIL SVCS ETF 92189H607 21790 114000 SH DFND 114000 0 0 VANECK VECTORS ETF TR SEMICONDUCTOR ET 92189F676 32149 132000 SH DFND 132000 0 0 VORNADO RLTY TR SH BEN INT 929042109 6613 145700 SH DFND 145700 0 0 VULCAN MATLS CO COM 929160109 6244 37000 SH DFND 37000 0 0 DISNEY WALT CO COM 254687106 5942 32200 SH DFND 32200 0 0 WILLIAMS COS INC COM 969457100 8836 373000 SH DFND 373000 0 0 BERKLEY W R CORP COM 084423102 3022 40100 SH DFND 40100 0 0 ARK ETF TR INNOVATION ETF 00214Q104 26989 225000 SH Call DFND 225000 0 0 BAIDU INC SPON ADR REP A 056752108 21755 100000 SH Call DFND 100000 0 0 ISHARES TR RUSSELL 2000 ETF 464287655 342457 1550000 SH Call DFND 1550000 0 0 VIACOMCBS INC CL B 92556H206 8118 180000 SH Call DFND 180000 0 0 SELECT SECTOR SPDR TR ENERGY 81369Y506 183975 3750000 SH Call DFND 3750000 0 0