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

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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ISHARES TR MSCI ACWI ETF 464288257   22,779,315 169,300 SH   SOLE   0 0 169,300
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363   71,669,102 122,940 SH   SOLE   0 0 122,940
ISHARES TR 20 YR TR BD ETF 464287432   9,677,320 113,000 SH   SOLE   0 0 113,000
ISHARES TR US TREAS BD ETF 46429B267   2,388,118 104,880 SH   SOLE   0 0 104,880
ISHARES TR IBOXX HI YD ETF 464288513   5,807,174 73,770 SH   SOLE   0 0 73,770
ISHARES TR JPMORGAN USD EMG 464288281   4,654,007 50,070 SH   SOLE   0 0 50,070
ALASKA AIR GROUP INC COM 011659109   12,704,201 351,333 SH   SOLE   0 0 351,333
FS KKR CAP CORP COM 302635206   991,000 100,000 SH   SOLE   0 0 100,000
UBER TECHNOLOGIES INC COM 90353T100   4,012,440 58,000 SH   SOLE   0 0 58,000
KKR & CO INC COM 48251W104   4,956,000 56,000 SH   SOLE   0 0 56,000
BLACKSTONE INC COM 09260D107   4,906,378 45,400 SH   SOLE   0 0 45,400
AMAZON COM INC COM 023135106   8,272,610 41,500 SH   SOLE   0 0 41,500
MICROSOFT CORP COM 594918104   9,704,144 27,200 SH   SOLE   0 0 27,200
VISA INC COM CL A 92826C839   5,053,392 17,100 SH   SOLE   0 0 17,100
META PLATFORMS INC CL A 30303M102   8,884,668 16,900 SH   SOLE   0 0 16,900
BROADCOM INC COM 11135F101   4,690,608 15,600 SH   SOLE   0 0 15,600
CROWDSTRIKE HLDGS INC CL A 22788C105   5,211,078 14,100 SH   SOLE   0 0 14,100
CADENCE DESIGN SYSTEM INC COM 127387108   1,902,390 7,000 SH   SOLE   0 0 7,000
MERCADOLIBRE INC COM 58733R102   7,357,792 4,600 SH   SOLE   0 0 4,600
SYNOPSYS INC COM 871607107   1,750,162 4,600 SH   SOLE   0 0 4,600