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
CACI INTERNATIONAL INC -CL A CL A 127190304 1,152 8,000 SH   DFND   8,000 0 0
EL POLLO LOCO HOLDINGS INC COM 268603107 1,214 80,000 SH   DFND   80,000 0 0
J & J SNACK FOODS CORP COM 466032109 1,590 11,000 SH   DFND   11,000 0 0
PROCTER & GAMBLE CO/THE COM 742718109 1,838 20,000 SH   DFND   20,000 0 0
SQUARE INC - A CL A 852234103 1,234 22,000 SH   DFND   22,000 0 0
T-MOBILE US INC COM 872590104 2,799 44,000 SH   DFND   44,000 0 0
UNITED CONTINENTAL HOLDINGS COM 910047109 2,311 27,600 SH   DFND   27,600 0 0
ALEXION PHARMACEUTICALS INC COM 015351109 1,850 19,000 SH   DFND   19,000 0 0
ALPHABET INC-CL A COM 02079K305 4,284 4,100 SH   DFND   4,100 0 0
ALTRIA GROUP INC COM 02209S103 3,200 64,800 SH   DFND   64,800 0 0
AMAZON.COM INC COM 023135106 1,787 1,190 SH   DFND   1,190 0 0
AMERICAN WATER WORKS CO INC COM 030420103 1,979 21,800 SH   DFND   21,800 0 0
AMPHENOL CORP-CL A COM 032095101 1,612 19,900 SH   DFND   19,900 0 0
ATMOS ENERGY CORP COM 049560105 417 4,500 SH   DFND   4,500 0 0
BANK OF AMERICA CORP COM 060505104 2,624 106,500 SH   DFND   106,500 0 0
BARNES GROUP INC COM 067806109 1,072 20,000 SH   DFND   20,000 0 0
BROADRIDGE FINANCIAL SOLUTIO COM 11133T103 481 5,000 SH   DFND   5,000 0 0
BURLINGTON STORES INC COM 122017106 3,741 23,000 SH   DFND   23,000 0 0
CVS HEALTH CORP COM 126650100 3,473 53,000 SH   DFND   53,000 0 0
CAVCO INDUSTRIES INC COM 149568107 1,043 8,000 SH   DFND   8,000 0 0
CISCO SYSTEMS INC COM 17275R102 4,073 94,000 SH   DFND   94,000 0 0
WALT DISNEY CO/THE COM DISNEY 254687106 4,605 42,000 SH   DFND   42,000 0 0
DOLLAR GENERAL CORP COM 256677105 4,161 38,500 SH   DFND   38,500 0 0
EOG RESOURCES INC COM 26875P101 1,744 20,000 SH   DFND   20,000 0 0
EASTGROUP PROPERTIES INC COM 277276101 633 6,900 SH   DFND   6,900 0 0
EPLUS INC COM 294268107 1,281 18,000 SH   DFND   18,000 0 0
EVERTEC INC COM 30040P103 1,177 41,000 SH   DFND   41,000 0 0
EXELON CORP COM 30161N101 2,697 59,800 SH   DFND   59,800 0 0
EXLSERVICE HOLDINGS INC COM 302081104 1,158 22,000 SH   DFND   22,000 0 0
EXXON MOBIL CORP COM 30231G102 1,971 28,900 SH   DFND   28,900 0 0
FEDERAL SIGNAL CORP COM 313855108 1,055 53,000 SH   DFND   53,000 0 0
FORTIVE CORP COM 34959J108 2,057 30,400 SH   DFND   30,400 0 0
GREEN DOT CORP-CLASS A COM 39304D102 1,511 19,000 SH   DFND   19,000 0 0
INGEVITY CORP COM 45688C107 1,640 19,600 SH   DFND   19,600 0 0
INTEGRA LIFESCIENCES HOLDING COM 457985208 1,551 34,400 SH   DFND   34,400 0 0
INTERFACE INC COM 458665304 442 31,000 SH   DFND   31,000 0 0
INTL FLAVORS & FRAGRANCES COM 459506101 2,753 20,500 SH   DFND   20,500 0 0
INTUITIVE SURGICAL INC COM 46120E602 192 400 SH   DFND   400 0 0
ISHARES EDGE MSCI MIN VOL EM ISHARES 464286533 1,570 28,100 SH   DFND   6,200 0 0
ISHARES MSCI EMERGING MARKET ISHARES 464287234 1,511 38,700 SH   DFND   9,300 0 0
ISHARES MSCI KOKUSAI ETF ISHARES 464288265 11,114 191,300 SH   DFND   133,100 0 0
ISHARES JP MORGAN USD EMERGI ISHARES 464288281 1,029 9,900 SH   DFND   6,400 0 0
ISHARES CORE US REIT ETF ISHARES 464288521 2,727 60,800 SH   DFND   18,500 0 0
ISHARES US TREASURY BOND ETF ISHARES 46429B267 33,356 1,353,200 SH   DFND   114,700 0 0
JPMORGAN CHASE & CO COM 46625H100 4,393 45,000 SH   DFND   45,000 0 0
JETBLUE AIRWAYS CORP COM 477143101 951 59,200 SH   DFND   59,200 0 0
LANCASTER COLONY CORP COM 513847103 743 4,200 SH   DFND   4,200 0 0
MICROSOFT CORP COM 594918104 3,931 38,700 SH   DFND   38,700 0 0
MONDELEZ INTERNATIONAL INC-A COM 609207105 1,769 44,200 SH   DFND   44,200 0 0
MONOLITHIC POWER SYSTEMS INC COM 609839105 930 8,000 SH   DFND   8,000 0 0
NEXTERA ENERGY INC COM 65339F101 3,876 22,300 SH   DFND   22,300 0 0
NUTRIEN LTD COM 67077M108 1,352 28,760 SH   DFND   28,760 0 0
OLLIE'S BARGAIN OUTLET HOLDI COM 681116109 931 14,000 SH   DFND   14,000 0 0
PBF ENERGY INC-CLASS A CL A 69318G106 359 11,000 SH   DFND   11,000 0 0
PGT INNOVATIONS INC COM 69336V101 1,331 84,000 SH   DFND   84,000 0 0
PS BUSINESS PARKS INC/CA COM 69360J107 1,782 13,600 SH   DFND   13,600 0 0
POOL CORP COM 73278L105 1,189 8,000 SH   DFND   8,000 0 0
S&P GLOBAL INC COM 78409V104 3,229 19,000 SH   DFND   19,000 0 0
HEALTH CARE SELECT SECTOR SBI HEALTHCARE 81369Y209 8,564 99,000 SH   DFND   99,000 0 0
CONSUMER STAPLES SPDR SBI CONS STPLS 81369Y308 3,809 75,000 SH   DFND   75,000 0 0
CONSUMER DISCRETIONARY SELT SBI CONS DISCR 81369Y407 2,475 25,000 SH   DFND   25,000 0 0
FINANCIAL SELECT SECTOR SPDR SBI INT-FINL 81369Y605 4,288 180,000 SH   DFND   180,000 0 0
INDUSTRIAL SELECT SECT SPDR SBI INT-INDS 81369Y704 1,288 20,000 SH   DFND   20,000 0 0
TECHNOLOGY SELECT SECT SPDR TECHNOLOGY 81369Y803 9,297 150,000 SH   DFND   150,000 0 0
SERVICE CORP INTERNATIONAL COM 817565104 314 7,800 SH   DFND   7,800 0 0
SPROUTS FARMERS MARKET INC COM 85208M102 306 13,000 SH   DFND   13,000 0 0
STEWART INFORMATION SERVICES COM 860372101 1,813 43,795 SH   DFND   43,795 0 0
SUPERNUS PHARMACEUTICALS INC COM 868459108 914 27,500 SH   DFND   27,500 0 0
UNITEDHEALTH GROUP INC COM 91324P102 4,933 19,800 SH   DFND   19,800 0 0
VALERO ENERGY CORP COM 91913Y100 1,125 15,000 SH   DFND   15,000 0 0
XYLEM INC COM 98419M100 3,416 51,200 SH   DFND   51,200 0 0
LIVANOVA PLC SHS G5509L101 1,555 17,000 SH   DFND   17,000 0 0
NORWEGIAN CRUISE LINE HOLDIN SHS G66721104 1,509 35,600 SH   DFND   35,600 0 0
TE CONNECTIVITY LTD REG SHS H84989104 590 7,800 SH   DFND   7,800 0 0