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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
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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
NOVA MEASURING INSTRUMENTS L COM m7516k103   6,530 47,532 SH   DFND 1,2 47,532 0 0
ORMAT TECHNOLOGIES INC COM 686688102   4,294 56,653 SH   DFND 1,2 56,653 0 0
ISHARES RUSSEL 2000 ETF WTH 464287655   20,414 101,707 SH   DFND 1,2 101,707 0 0
SPDR TR SBI HEALTHCARE SBI HEALTHCARE 81369Y209   18,446 135,254 SH   DFND 1,2 135,254 0 0
ENLIGHT RENEWABLE ENERGY LTD SHS M4056D110   1,754 91,626 SH   DFND 1,2 91,626 0 0
ISHARES TR CORE S&P500 ETF 464287200   840 1,758 SH   DFND 1,2 1,758 0 0
TEVA PHARMACEUTICAL INDS LTD SPONSORED ADS 881624209   6,096 583,932 SH   DFND 1,2 583,932 0 0
SELECT SECTOR SPDR TR ENERGY 81369Y506   16,623 198,265 SH   DFND 1,2 198,265 0 0
SELECT SECTOR SPDR TR RL EST SEL SEC 81369Y860   12,395 309,413 SH   DFND 1,2 309,413 0 0
SAPIENS INTL CORP N V SHS G7T16G103   731 25,273 SH   DFND 1,2 25,273 0 0
ISHARES TR EXPANDED TECH 464287515   22,166 54,645 SH   DFND 1,2 54,645 0 0
SALESFORCE INC COM 79466L302   4,559 17,324 SH   DFND 1,2 17,324 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308   14,500 201,307 SH   DFND 1,2 201,307 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858   23,230 565,218 SH   DFND 1,2 565,218 0 0
VANECK ETF TRUST SEMICONDUCTR ETF 92189F676   8,466 48,412 SH   DFND 1,2 48,412 0 0
SELECT SECTOR SPDR TR COMMUNICATION 81369Y852   11,221 154,436 SH   DFND 1,2 154,436 0 0
TOWER SEMICONDUCTOR LTD SHS NEW M87915274   11,281 369,634 SH   DFND 1,2 369,634 0 0
NICE LTD SPONSORED ADR 653656108   3,460 17,344 SH   DFND 1,2 17,344 0 0
LAM RESEARCH CORP COM 512807108   3,003 3,834 SH   DFND 1,2 3,834 0 0
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363   16,344 37,418 SH   DFND 1,2 37,418 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103   532 1,119 SH   DFND 1,2 1,119 0 0
AMAZON COM INC COM 023135106   6,856 45,125 SH   DFND 1,2 45,125 0 0
VANGUARD INDEX FDS REAL ESTATE ETF 922908553   126,479 1,431,405 SH   DFND 1,2 1,431,405 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803   8,168 42,435 SH   DFND 1,2 42,435 0 0
INVESCO EXCHANGE TRADED FD T AEROSPACE DEFN 46137V100   13,119 142,352 SH   DFND 1,2 142,352 0 0
FINANCIAL SELECT SECTOR SPDR TR UNIT 81369Y605   24,638 655,256 SH   DFND 1,2 655,256 0 0
SPIRIT AEROSYSTEMS HLDGS INC COM 83417M104   1,643 17,550 SH   DFND 1,2 17,550 0 0
META PLATFORMS INC C CL A 30303M102   4,310 12,177 SH   DFND 1,2 12,177 0 0
cste RD SHS M20598104   509 136,210 SH   DFND 1,2 136,210 0 0
ISHARES TR U.S. MED DVC ETF 464288810   7,908 146,518 SH   DFND 1,2 146,518 0 0
ISHARES TR US HOME CONS ETF 464288752   107 1,050 SH   DFND 1,2 1,050 0 0
INMODE LTD SHS M5425M103   4,070 183,022 SH   DFND 1,2 183,022 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103   94,237 220,448 SH   DFND 1,2 220,448 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103   104,781 220,448 SH   DFND 1,2 220,448 0 0
VANGUARD INDEX FDS REIT ETF 922908553   22,452 254,100 SH   DFND 1,2 254,100 0 0
NOVA MEASURING INSTRUMENTS L COM m7516k103   10,350 75,333 SH   DFND 1,2 75,333 0 0
ORMAT TECHNOLOGIES INC COM 686688102   6,498 85,737 SH   DFND 1,2 85,737 0 0
ISHARES INC MSCI EMRG CHN 46434G764   416 7,500 SH   DFND 1,2 7,500 0 0
ISHARES RUSSEL 2000 ETF WTH 464287655   33,326 166,043 SH   DFND 1,2 166,043 0 0
SPDR TR SBI HEALTHCARE SBI HEALTHCARE 81369Y209   26,464 194,046 SH   DFND 1,2 194,046 0 0
ENLIGHT RENEWABLE ENERGY LTD SHS M4056D110   2,744 143,374 SH   DFND 1,2 143,374 0 0
ISHARES TR CORE S&P500 ETF 464287200   17,900 37,477 SH   DFND 1,2 37,477 0 0
TEVA PHARMACEUTICAL INDS LTD SPONSORED ADS 881624209   9,077 869,411 SH   DFND 1,2 869,411 0 0
SPDR TR SBI INT-INDS TR UNIT 81369Y704   160 1,400 SH   DFND 1,2 1,400 0 0
SELECT SECTOR SPDR TR ENERGY 81369Y506   27,343 326,135 SH   DFND 1,2 326,135 0 0
SELECT SECTOR SPDR TR RL EST SEL SEC 81369Y860   20,294 506,587 SH   DFND 1,2 506,587 0 0
SAPIENS INTL CORP N V SHS G7T16G103   1,130 39,051 SH   DFND 1,2 39,051 0 0
ISHARES TR EXPANDED TECH 464287515   36,043 88,855 SH   DFND 1,2 88,855 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886   165 2,600 SH   DFND 1,2 2,600 0 0
SALESFORCE INC COM 79466L302   7,098 26,976 SH   DFND 1,2 26,976 0 0
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308   20,931 290,593 SH   DFND 1,2 290,593 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858   64,154 1,560,922 SH   DFND 1,2 1,560,922 0 0
VANECK ETF TRUST SEMICONDUCTR ETF 92189F676   14,180 81,088 SH   DFND 1,2 81,088 0 0
SELECT SECTOR SPDR TR COMMUNICATION 81369Y852   14,975 206,094 SH   DFND 1,2 206,094 0 0
TOWER SEMICONDUCTOR LTD SHS NEW M87915274   17,143 561,700 SH   DFND 1,2 561,700 0 0
NICE LTD SPONSORED ADR 653656108   5,238 26,254 SH   DFND 1,2 26,254 0 0
LAM RESEARCH CORP COM 512807108   4,986 6,366 SH   DFND 1,2 6,366 0 0
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363   11,915 27,278 SH   DFND 1,2 27,278 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103   10,510 22,111 SH   DFND 1,2 22,111 0 0
AMAZON COM INC COM 023135106   10,966 72,175 SH   DFND 1,2 72,175 0 0
VANGUARD INDEX FDS REAL ESTATE ETF 922908553   173,981 1,968,999 SH   DFND 1,2 1,968,999 0 0
SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803   10,447 54,275 SH   DFND 1,2 54,275 0 0
INVESCO EXCHANGE TRADED FD T AEROSPACE DEFN 46137V100   21,137 229,348 SH   DFND 1,2 229,348 0 0
FINANCIAL SELECT SECTOR SPDR TR UNIT 81369Y605   38,138 1,014,314 SH   DFND 1,2 1,014,314 0 0
ISHARES TR MSCI USA etf 46429B598   1,708 35,000 SH   DFND 1,2 35,000 0 0
SPIRIT AEROSYSTEMS HLDGS INC COM 83417M104   2,569 27,450 SH   DFND 1,2 27,450 0 0
META PLATFORMS INC C CL A 30303M102   7,017 19,823 SH   DFND 1,2 19,823 0 0
cste RD SHS M20598104   816 218,172 SH   DFND 1,2 218,172 0 0
ISHARES TR U.S. MED DVC ETF 464288810   12,903 239,082 SH   DFND 1,2 239,082 0 0
ISHARES TR US HOME CONS ETF 464288752   2,277 22,384 SH   DFND 1,2 22,384 0 0
INMODE LTD SHS M5425M103   6,422 288,756 SH   DFND 1,2 288,756 0 0
WISDOMTREE TR EM EX ST-OWNED 97717X578   1,364 47,241 SH   DFND 1,2 47,241 0 0