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 1,457 94,000 SH   DFND   94,000 0 0
ALPHABET INC-CL A COM 02079K305 765 8,000 SH   DFND   8,000 0 0
AMAZON.COM INC COM 023135106 678 6,000 SH   DFND   6,000 0 0
AMEDISYS INC COM 023436108 271 2,800 SH   DFND   2,800 0 0
AMERICAN EXPRESS CO COM 025816109 270 2,000 SH   DFND   2,000 0 0
AMERICAN WATER WORKS CO INC COM 030420103 390 3,000 SH   DFND   3,000 0 0
APPLE INC COM 037833100 2,349 17,000 SH   DFND   17,000 0 0
ATMOS ENERGY CORP COM 049560105 713 7,000 SH   DFND   7,000 0 0
BOYD GAMING CORP COM 103304101 667 14,000 SH   DFND   14,000 0 0
CVS HEALTH CORP COM 126650100 1,049 11,000 SH   DFND   11,000 0 0
CACI INTERNATIONAL INC -CL A CL A 127190304 1,436 5,500 SH   DFND   5,500 0 0
EASTGROUP PROPERTIES INC COM 277276101 1,732 12,000 SH   DFND   12,000 0 0
EXLSERVICE HOLDINGS INC COM 302081104 1,474 10,000 SH   DFND   10,000 0 0
EXXON MOBIL CORP COM 30231G102 3,667 42,000 SH   DFND   42,000 0 0
FEDERAL SIGNAL CORP COM 313855108 411 11,000 SH   DFND   11,000 0 0
GLOBUS MEDICAL INC - A CL A 379577208 822 13,800 SH   DFND   13,800 0 0
HORACE MANN EDUCATORS COM 440327104 1,429 40,500 SH   DFND   40,500 0 0
INTEGRA LIFESCIENCES HOLDING COM 457985208 779 18,400 SH   DFND   18,400 0 0
ISHARES MSCI KOKUSAI ETF MSCI KOKUSAI ETF 464288265 13,794 185,600 SH   DFND   185,600 0 0
ISHARES CORE US REIT ETF CRE U S REIT ETF 464288521 1,249 26,300 SH   DFND   26,300 0 0
J & J SNACK FOODS CORP COM 466032109 1,942 15,000 SH   DFND   15,000 0 0
LAMB WESTON HOLDINGS INC COM 513272104 3,095 40,000 SH   DFND   40,000 0 0
LANCASTER COLONY CORP COM 513847103 1,322 8,800 SH   DFND   8,800 0 0
NEXTERA ENERGY INC COM 65339F101 1,725 22,000 SH   DFND   22,000 0 0
REPUBLIC SERVICES INC COM 760759100 2,993 22,000 SH   DFND   22,000 0 0
SAFETY INSURANCE GROUP INC COM 78648T100 1,550 19,000 SH   DFND   19,000 0 0
SALESFORCE INC COM 79466L302 1,582 11,000 SH   DFND   11,000 0 0
HEALTH CARE SELECT SECTOR SBI HEALTHCARE 81369Y209 3,754 31,000 SH   DFND   31,000 0 0
TECHNOLOGY SELECT SECT SPDR TECHNOLOGY 81369Y803 2,791 23,500 SH   DFND   23,500 0 0
SERVICE CORP INTERNATIONAL COM 817565104 577 10,000 SH   DFND   10,000 0 0
WEBSTER FINANCIAL CORP COM 947890109 1,130 25,000 SH   DFND   25,000 0 0
XYLEM INC COM 98419M100 874 10,000 SH   DFND   10,000 0 0
UNITEDHEALTH GROUP INC COM 91324P102 3,535 7,000 SH   DFND   7,000 0 0
ESSENTIAL UTILITIES INC COM 29670G102 579 14,000 SH   DFND   14,000 0 0
MICROSOFT CORP COM 594918104 1,165 5,000 SH   DFND   5,000 0 0
WEST PHARMACEUTICAL SERVICES COM 955306105 2,584 10,500 SH   DFND   10,500 0 0
ITRON INC COM 465741106 632 15,000 SH   DFND   15,000 0 0
T-MOBILE US INC COM 872590104 2,281 17,000 SH   DFND   17,000 0 0
MASIMO CORP COM 574795100 85 600 SH   DFND   600 0 0
OTIS WORLDWIDE CORP COM 68902V107 1,436 22,500 SH   DFND   22,500 0 0
JPMORGAN CHASE & CO COM 46625H100 941 9,000 SH   DFND   9,000 0 0
BARNES GROUP INC COM 067806109 895 31,000 SH   DFND   31,000 0 0
AON PLC-CLASS A SHS CL A G0403H108 3,482 13,000 SH   DFND   13,000 0 0
OFG BANCORP COM 67103X102 1,809 71,993 SH   DFND   71,993 0 0
MGM RESORTS INTERNATIONAL COM 552953101 832 28,000 SH   DFND   28,000 0 0
LOWE'S COS INC COM 548661107 751 4,000 SH   DFND   4,000 0 0
HEALTHCARE SERVICES GROUP COM 421906108 302 25,000 SH   DFND   25,000 0 0
PDC ENERGY INC COM 69327R101 2,427 42,000 SH   DFND   42,000 0 0
EVERTEC INC COM 30040P103 1,097 35,000 SH   DFND   35,000 0 0
RAYTHEON TECHNOLOGIES CORP COM 75513E101 3,438 42,000 SH   DFND   42,000 0 0
ISHARES CORE S&P SMALL-CAP E CORE S&P SCP ETF 464287804 2,964 34,000 SH   DFND   34,000 0 0
SPDR S&P 600 SMALL CAP ETF S&P 600 SML CAP 78464A813 2,233 29,500 SH   DFND   29,500 0 0
SCHLUMBERGER LTD COM 806857108 2,154 60,000 SH   DFND   60,000 0 0
INTERFACE INC COM 458665304 719 80,000 SH   DFND   80,000 0 0
BANK OF AMERICA CORP COM 060505104 785 26,000 SH   DFND   26,000 0 0
TE CONNECTIVITY LTD SHS H84989104 773 7,000 SH   DFND   7,000 0 0
ZOETIS INC CL A 98978V103 1,483 10,000 SH   DFND   10,000 0 0
MARTIN MARIETTA MATERIALS COM 573284106 644 2,000 SH   DFND   2,000 0 0
INOGEN INC COM 45780L104 971 40,000 SH   DFND   40,000 0 0
TARGET CORP COM 87612E106 519 3,500 SH   DFND   3,500 0 0
ANSYS INC COM 03662Q105 665 3,000 SH   DFND   3,000 0 0
ANI PHARMACEUTICALS INC COM 00182C103 739 23,000 SH   DFND   23,000 0 0
LANTHEUS HOLDINGS INC COM 516544103 844 12,000 SH   DFND   12,000 0 0
SCHWAB (CHARLES) CORP COM 808513105 2,156 30,000 SH   DFND   30,000 0 0
CAMECO CORP COM 13321L108 583 22,000 SH   DFND   22,000 0 0
MARSH & MCLENNAN COS COM 571748102 2,538 17,000 SH   DFND   17,000 0 0
SUPERNUS PHARMACEUTICALS INC COM 868459108 1,456 43,000 SH   DFND   43,000 0 0
NASDAQ INC COM 631103108 1,247 22,000 SH   DFND   22,000 0 0
PAYPAL HOLDINGS INC COM 70450Y103 172 2,000 SH   DFND   2,000 0 0
MORGAN STANLEY COM NEW 617446448 79 1,000 SH   DFND   1,000 0 0
MOSAIC CO/THE COM 61945C103 1,547 32,000 SH   DFND   32,000 0 0
PHILIP MORRIS INTERNATIONAL COM 718172109 1,826 22,000 SH   DFND   22,000 0 0
CONAGRA BRANDS INC COL 205887102 1,077 33,000 SH   DFND   33,000 0 0
CISCO SYSTEMS INC COM 17275R102 4,000 100,000 SH   DFND   100,000 0 0
MCDONALD'S CORP COM 580135101 4,153 18,000 SH   DFND   18,000 0 0
PROCTER & GAMBLE CO/THE COM 742718109 2,083 16,500 SH   DFND   16,500 0 0
AUTOZONE INC COM 053332102 2,785 1,300 SH   DFND   1,300 0 0
CORTEVA INC COM 22052L104 1,314 23,000 SH   DFND   23,000 0 0