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
XTRACKERS LOW BETA HIGH YIELD BOND ETF ETF 233051267 1,473,600 30,566,282 SH   DFND 1 2 30,566,282 0 0
XTRACKERS USD HIGH YIELD CORPORATE BOND ETF ETF 233051432 92,143 2,442,808 SH   DFND 1 2 2,442,808 0 0
ISHARES IBOXX $ INVESTMENT GRADE CORPORATE BOND ETF ETF 464287242 12,500 103,361 SH   DFND 1 2 103,361 0 0
ISHARES RUSSELL MID-CAP VALUE ETF ETF 464287473 23,282 194,604 SH   DFND 1 2 194,604 0 0
ISHARES RUSSELL MID-CAP GROWTH ETF ETF 464287481 188,284 1,873,472 SH   DFND 1 2 1,873,472 0 0
ISHARES RUSSELL 3000 ETF ETF 464287689 155,487 592,626 SH   DFND 1 2 592,626 0 0
ISHARES 5-10 YEAR INVESTMENT GRADE CORPORATE BOND ETF ETF 464288638 41,216 751,159 SH   DFND 1 2 751,159 0 0
ISHARES 1-5 YEAR INVESTMENT GRADE CORPORATE BOND ETF ETF 464288646 34,680 670,543 SH   DFND 1 2 670,543 0 0
VANGUARD S&P 500 ETF ETF 922908363 13,344 32,140 SH   DFND 1 2 32,140 0 0
ISHARES IBONDS DEC 2023 TERM CORPORATE ETF ETF 46434VAX8 1,264 50,000 SH   DFND 1 2 50,000 0 0
ISHARES IBONDS DEC 2022 TERM CORPORATE ETF ETF 46434VBA7 1,002 40,000 SH   DFND 1 2 40,000 0 0
ISHARES IBONDS DEC 2024 TERM CORPORATE ETF ETF 46434VBG4 1,255 50,000 SH   DFND 1 2 50,000 0 0
SPDR S&P ETF TRUST ETF 78462F103 42,544 94,200 SH   DFND 1 2 94,200 0 0
TIDEWATER INC COM 88642R109 2,605 119,817 SH   DFND 1 2 119,817 0 0
VANGUARD SHORT-TERM CORPORATE BOND ETF ETF 92206C409 183,590 2,351,000 SH   DFND 1 2 2,351,000 0 0
VANGUARD INTERMEDIATE TERM CORPORATE BOND ETF ETF 92206C870 227,103 2,639,500 SH   DFND 1 2 2,639,500 0 0