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
SCHLUMBERGER LTD COM 806857108 1,307 30,000 SH   DFND   30,000 0 0
NORWEGIAN CRUISE LINE HOLDIN SHS G66721104 1,682 30,600 SH   DFND   30,600 0 0
NUTRIEN LTD COM 67077M108 1,517 28,760 SH   DFND   28,760 0 0
TE CONNECTIVITY LTD REG SHS H84989104 2,245 27,800 SH   DFND   27,800 0 0
LIVANOVA PLC SHS G5509L101 1,653 17,000 SH   DFND   17,000 0 0
EVERTEC INC COM 30040P103 1,140 41,000 SH   DFND   41,000 0 0
ACADIA HEALTHCARE CO INC COM 00404A109 498 17,000 SH   DFND   17,000 0 0
ALEXION PHARMACEUTICALS INC COM 015351109 2,568 19,000 SH   DFND   19,000 0 0
ALPHABET INC-CL A COM 02079K305 3,766 3,200 SH   DFND   3,200 0 0
ALTRIA GROUP INC COM 02209S103 3,721 64,800 SH   DFND   64,800 0 0
AMAZON.COM INC COM 023135106 1,763 990 SH   DFND   990 0 0
AMEDISYS INC COM 023436108 1,011 8,200 SH   DFND   8,200 0 0
AMERICAN WATER WORKS CO INC COM 030420103 4,045 38,800 SH   DFND   38,800 0 0
AMPHENOL CORP-CL A COM 032095101 3,202 33,900 SH   DFND   33,900 0 0
APPLE INC COM 037833100 1,900 10,000 SH   DFND   10,000 0 0
ATMOS ENERGY CORP COM 049560105 463 4,500 SH   DFND   4,500 0 0
BANK OF AMERICA CORP COM 060505104 2,938 106,500 SH   DFND   106,500 0 0
BARNES GROUP INC COM 067806109 1,028 20,000 SH   DFND   20,000 0 0
BOYD GAMING CORP COM 103304101 903 33,000 SH   DFND   33,000 0 0
BROADRIDGE FINANCIAL SOLUTIO COM 11133T103 518 5,000 SH   DFND   5,000 0 0
BURLINGTON STORES INC COM 122017106 3,604 23,000 SH   DFND   23,000 0 0
CVS HEALTH CORP COM 126650100 1,240 23,000 SH   DFND   23,000 0 0
CACI INTERNATIONAL INC -CL A CL A 127190304 1,456 8,000 SH   DFND   8,000 0 0
CISCO SYSTEMS INC COM 17275R102 2,915 54,000 SH   DFND   54,000 0 0
WALT DISNEY CO/THE COM DISNEY 254687106 2,998 27,000 SH   DFND   27,000 0 0
DOLLAR GENERAL CORP COM 256677105 2,804 23,500 SH   DFND   23,500 0 0
EL POLLO LOCO HOLDINGS INC COM 268603107 651 50,000 SH   DFND   50,000 0 0
EOG RESOURCES INC COM 26875P101 952 10,000 SH   DFND   10,000 0 0
EASTGROUP PROPERTIES INC COM 277276101 770 6,900 SH   DFND   6,900 0 0
EPLUS INC COM 294268107 1,328 15,000 SH   DFND   15,000 0 0
EXELON CORP COM 30161N101 2,998 59,800 SH   DFND   59,800 0 0
EXLSERVICE HOLDINGS INC COM 302081104 1,320 22,000 SH   DFND   22,000 0 0
EXXON MOBIL CORP COM 30231G102 2,335 28,900 SH   DFND   28,900 0 0
FEDERAL SIGNAL CORP COM 313855108 1,377 53,000 SH   DFND   53,000 0 0
FORTIVE CORP COM 34959J108 2,550 30,400 SH   DFND   30,400 0 0
GENERAL ELECTRIC CO COM 369604103 2,697 270,000 SH   DFND   270,000 0 0
GREEN DOT CORP-CLASS A COM 39304D102 607 10,000 SH   DFND   10,000 0 0
ILLUMINA INC COM 452327109 2,641 8,500 SH   DFND   8,500 0 0
INGEVITY CORP COM 45688C107 2,070 19,600 SH   DFND   19,600 0 0
INOGEN INC COM 45780L104 858 9,000 SH   DFND   9,000 0 0
INTEGRA LIFESCIENCES HOLDING COM 457985208 1,917 34,400 SH   DFND   34,400 0 0
INTL FLAVORS & FRAGRANCES COM 459506101 3,413 26,500 SH   DFND   26,500 0 0
INTUIT INC COM 461202103 1,568 6,000 SH   DFND   6,000 0 0
INTUITIVE SURGICAL INC COM 46120E602 2,796 4,900 SH   DFND   4,900 0 0
ISHARES EDGE MSCI MIN VOL EM ISHARES 464286533 184,344 28,100 SH   DFND   28,100 0 0
ISHARES MSCI EMERGING MARKET ISHARES 464287234 171,972 36,200 SH   DFND   36,200 0 0
ISHARES MSCI KOKUSAI ETF ISHARES 464288265 1,708,999 234,300 SH   DFND   234,300 0 0
ISHARES JP MORGAN USD EMERGI ISHARES 464288281 219,276 18,000 SH   DFND   18,000 0 0
ISHARES CORE US REIT ETF ISHARES 464288521 376,681 65,800 SH   DFND   65,800 0 0
ISHARES US TREASURY BOND ETF ISHARES 46429B267 4,877,782 1,746,000 SH   DFND   1,746,000 0 0
J & J SNACK FOODS CORP COM 466032109 1,747 11,000 SH   DFND   11,000 0 0
JPMORGAN CHASE & CO COM 46625H100 3,543 35,000 SH   DFND   35,000 0 0
JETBLUE AIRWAYS CORP COM 477143101 478 29,200 SH   DFND   29,200 0 0
LAMB WESTON HOLDINGS INC COM 513272104 2,998 40,000 SH   DFND   40,000 0 0
LANCASTER COLONY CORP COM 513847103 658 4,200 SH   DFND   4,200 0 0
MGP INGREDIENTS INC COM 55303J106 355 4,600 SH   DFND   4,600 0 0
MEDIFAST INC COM 58470H101 702 5,500 SH   DFND   5,500 0 0
MICROSOFT CORP COM 594918104 4,682 39,700 SH   DFND   39,700 0 0
MONDELEZ INTERNATIONAL INC-A COM 609207105 2,206 44,200 SH   DFND   44,200 0 0
NEXTERA ENERGY INC COM 65339F101 2,764 14,300 SH   DFND   14,300 0 0
OLLIE'S BARGAIN OUTLET HOLDI COM 681116109 853 10,000 SH   DFND   10,000 0 0
PGT INNOVATIONS INC COM 69336V101 1,163 84,000 SH   DFND   84,000 0 0
PS BUSINESS PARKS INC/CA COM 69360J107 2,133 13,600 SH   DFND   13,600 0 0
POOL CORP COM 73278L105 1,320 8,000 SH   DFND   8,000 0 0
PROCTER & GAMBLE CO/THE COM 742718109 3,434 33,000 SH   DFND   33,000 0 0
REPUBLIC SERVICES INC COM 760759100 2,813 35,000 SH   DFND   35,000 0 0
S&P GLOBAL INC COM 78409V104 1,895 9,000 SH   DFND   9,000 0 0
SERVICE CORP INTERNATIONAL COM 817565104 313 7,800 SH   DFND   7,800 0 0
SPROUTS FARMERS MARKET INC COM 85208M102 280 13,000 SH   DFND   13,000 0 0
STEWART INFORMATION SERVICES COM 860372101 1,870 43,795 SH   DFND   43,795 0 0
SUPERNUS PHARMACEUTICALS INC COM 868459108 964 27,500 SH   DFND   27,500 0 0
T-MOBILE US INC COM 872590104 3,040 44,000 SH   DFND   44,000 0 0
UNITEDHEALTH GROUP INC COM 91324P102 3,659 14,800 SH   DFND   14,800 0 0
WABTEC CORP COM 929740108 107 1,450 SH   DFND   1,450 0 0
WEBSTER FINANCIAL CORP COM 947890109 861 17,000 SH   DFND   17,000 0 0
XYLEM INC COM 98419M100 3,810 48,200 SH   DFND   48,200 0 0
ZSCALER INC COM 98980G102 1,206 17,000 SH   DFND   17,000 0 0