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
BARRICK GOLD CORP COM 067901108 1,595 70,000 SH   DFND   70,000 0 0
ALPHABET INC-CL A COM 02079K305 3,155 1,800 SH   DFND   1,800 0 0
AMAZON.COM INC COM 023135106 5,862 1,800 SH   DFND   1,800 0 0
AMERICAN EXPRESS CO COM 025816109 3,023 25,000 SH   DFND   25,000 0 0
AMERICAN WATER WORKS CO INC COM 030420103 2,916 19,000 SH   DFND   19,000 0 0
APPLE INC COM 037833100 3,981 30,000 SH   DFND   30,000 0 0
APPLIED MATERIALS INC COM 038222105 4,315 50,000 SH   DFND   50,000 0 0
ATMOS ENERGY CORP COM 049560105 954 10,000 SH   DFND   10,000 0 0
BOYD GAMING CORP COM 103304101 1,888 44,000 SH   DFND   44,000 0 0
CACI INTERNATIONAL INC -CL A CL A 127190304 1,371 5,500 SH   DFND   5,500 0 0
DOLLAR GENERAL CORP COM 256677105 3,155 15,000 SH   DFND   15,000 0 0
EXXON MOBIL CORP COM 30231G102 1,237 30,000 SH   DFND   30,000 0 0
FEDERAL SIGNAL CORP COM 313855108 1,327 40,000 SH   DFND   40,000 0 0
GLOBUS MEDICAL INC - A CL A 379577208 1,226 18,800 SH   DFND   18,800 0 0
HORACE MANN EDUCATORS COM 440327104 1,703 40,500 SH   DFND   40,500 0 0
INTEGRA LIFESCIENCES HOLDING COM 457985208 1,519 23,400 SH   DFND   23,400 0 0
INTL FLAVORS & FRAGRANCES COM 459506101 631 5,800 SH   DFND   5,800 0 0
INTUIT INC COM 461202103 6,078 16,000 SH   DFND   16,000 0 0
INTUITIVE SURGICAL INC COM 46120E602 4,909 6,000 SH   DFND   6,000 0 0
INVESCO S&P SMALLCAP INFORMA S&P SMLCP INFO 46138E115 1,648 13,453 SH   DFND   13,453 0 0
ISHARES MSCI KOKUSAI ETF MSCI KOKUSAI ETF 464288265 23,998 287,200 SH   DFND   287,200 0 0
ISHARES CORE US REIT ETF CRE U S REIT ETF 464288521 3,665 75,700 SH   DFND   75,700 0 0
J & J SNACK FOODS CORP COM 466032109 1,554 10,000 SH   DFND   10,000 0 0
LAMB WESTON HOLDINGS INC COM 513272104 1,732 22,000 SH   DFND   22,000 0 0
LANCASTER COLONY CORP COM 513847103 1,617 8,800 SH   DFND   8,800 0 0
MONOLITHIC POWER SYSTEMS INC COM 609839105 1,465 4,000 SH   DFND   4,000 0 0
NEXTERA ENERGY INC COM 65339F101 3,395 44,000 SH   DFND   44,000 0 0
PS BUSINESS PARKS INC/CA COM 69360J107 1,408 10,600 SH   DFND   10,600 0 0
REPUBLIC SERVICES INC COM 760759100 3,852 40,000 SH   DFND   40,000 0 0
SAFETY INSURANCE GROUP INC COM 78648T100 1,246 16,000 SH   DFND   16,000 0 0
SALESFORCE.COM INC COM 79466L302 3,783 17,000 SH   DFND   17,000 0 0
HEALTH CARE SELECT SECTOR SBI HEALTHCARE 81369Y209 5,332 47,000 SH   DFND   47,000 0 0
CONSUMER STAPLES SPDR SBI CONS STPLS 81369Y308 4,722 70,000 SH   DFND   70,000 0 0
TECHNOLOGY SELECT SECT SPDR TECHNOLOGY 81369Y803 2,600 20,000 SH   DFND   20,000 0 0
SERVICE CORP INTERNATIONAL COM 817565104 1,954 39,800 SH   DFND   39,800 0 0
WEBSTER FINANCIAL CORP COM 947890109 2,360 56,000 SH   DFND   56,000 0 0
XYLEM INC COM 98419M100 2,036 20,000 SH   DFND   20,000 0 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 1,960 17,000 SH   DFND   17,000 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 4,658 10,000 SH   DFND   10,000 0 0
FACEBOOK INC-CLASS A CL A 30303M102 4,917 18,000 SH   DFND   18,000 0 0
UNITEDHEALTH GROUP INC COM 91324P102 1,052 3,000 SH   DFND   3,000 0 0
HELEN OF TROY LTD COM G4388N106 1,289 5,800 SH   DFND   5,800 0 0
ESSENTIAL UTILITIES INC COM 29670G102 922 19,500 SH   DFND   19,500 0 0
MICROSOFT CORP COM 594918104 4,004 18,000 SH   DFND   18,000 0 0
ISHARES RUSSELL 2000 ETF RUSSELL 2000 ETF 464287655 3,921 20,000 SH   DFND   20,000 0 0
ITRON INC COM 465741106 1,534 16,000 SH   DFND   16,000 0 0
WD-40 CO COM 929236107 531 2,000 SH   DFND   2,000 0 0
ALEXION PHARMACEUTICALS INC COM 015351109 1,562 10,000 SH   DFND   10,000 0 0
T-MOBILE US INC COM 872590104 4,046 30,000 SH   DFND   30,000 0 0
MASIMO CORP COM 574795100 2,362 8,800 SH   DFND   8,800 0 0
OTIS WORLDWIDE CORP COM 68902V107 3,411 50,500 SH   DFND   50,500 0 0
JPMORGAN CHASE & CO COM 46625H100 6,608 52,000 SH   DFND   52,000 0 0
ROYAL GOLD INC COM 780287108 425 4,000 SH   DFND   4,000 0 0
BARNES GROUP INC COM 067806109 1,571 31,000 SH   DFND   31,000 0 0
AON PLC-CLASS A SHS CL A G0403H108 4,014 19,000 SH   DFND   19,000 0 0
BOOT BARN HOLDINGS INC COM 099406100 2,255 52,000 SH   DFND   52,000 0 0
OFG BANCORP COM 67103X102 2,169 117,000 SH   DFND   117,000 0 0
MGM RESORTS INTERNATIONAL COM 552953101 4,411 140,000 SH   DFND   140,000 0 0
SPDR PORTFOLIO S&P 500 GROWT PRTFLO S&P500 GW 78464A409 1,327 24,000 SH   DFND   24,000 0 0
SPDR S&P 500 ETF TRUST TR UNIT 78462F103 8,225 22,000 SH   DFND   22,000 0 0
SPDR PORTFOLIO S&P 500 HIGH PRTFLO S&P500 HI 78468R788 3,294 100,000 SH   DFND   100,000 0 0
SPDR PORTFOLIO S&P 500 ETF PORTFOLIO S&P500 78464A854 13,188 300,000 SH   DFND   300,000 0 0
COMM SERV SELECT SECTOR SPDR COMMUNICATION 81369Y852 4,049 60,000 SH   DFND   60,000 0 0
FOX FACTORY HOLDING CORP COM 35138V102 423 4,000 SH   DFND   4,000 0 0
LOWE'S COS INC COM 548661107 2,568 16,000 SH   DFND   16,000 0 0
CAVCO INDUSTRIES INC COM 149568107 1,123 6,400 SH   DFND   6,400 0 0
FACTSET RESEARCH SYSTEMS INC COM 303075105 698 2,100 SH   DFND   2,100 0 0
HEALTHCARE SERVICES GROUP COM 421906108 562 20,000 SH   DFND   20,000 0 0
INDUSTRIAL SELECT SECT SPDR SBI INT-INDS 81369Y704 1,948 22,000 SH   DFND   22,000 0 0
PDC ENERGY INC COM 69327R101 719 35,000 SH   DFND   35,000 0 0
LIVANOVA PLC SHS G5509L101 1,457 22,000 SH   DFND   22,000 0 0
EL POLLO LOCO HOLDINGS INC COM 268603107 724 40,000 SH   DFND   40,000 0 0
MERCK & CO. INC. COM 58933Y105 1,636 20,000 SH   DFND   20,000 0 0
KONTOOR BRANDS INC COM 50050N103 811 20,000 SH   DFND   20,000 0 0
MAXLINEAR INC COM 57776J100 1,910 50,000 SH   DFND   50,000 0 0
EVERTEC INC COM 30040P103 1,573 40,000 SH   DFND   40,000 0 0
CAPRI HOLDINGS LTD SHS G1890L107 420 10,000 SH   DFND   10,000 0 0