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
Abbott Laboratories COM 002824100   2,143,040 16,000 SH   DFND 1,2 16,000 0 0
Abbvie Inc COM 00287Y109   6,251,580 27,000 SH   DFND 1,2 27,000 0 0
Accenture Plc COM G1151C101   2,219,400 9,000 SH   DFND 1,2 9,000 0 0
Adobe Inc COM 00724F101   7,231,375 20,500 SH   DFND 1,2 20,500 0 0
Air Products And Chemicals Inc COM 009158106   4,881,688 17,900 SH   DFND 1,2 17,900 0 0
Alphabet Inc COM 02079K305   5,105,100 21,000 SH   DFND 1,2 21,000 0 0
Amazon.com Inc COM 023135106   39,083,460 178,000 SH   DFND 1,2 178,000 0 0
American Tower Corp COM 03027X100   4,615,680 24,000 SH   DFND 1,2 24,000 0 0
Anheuser-busch Inbev Sa/nv ADR 03524A108   6,259,050 105,000 SH   DFND 1,2 105,000 0 0
Apple Inc COM 037833100   12,731,500 50,000 SH   DFND 1,2 50,000 0 0
Applied Materials Inc COM 038222105   2,456,880 12,000 SH   DFND 1,2 12,000 0 0
Avalonbay Communities Inc COM 053484101   965,850 5,000 SH   DFND 1,2 5,000 0 0
Baidu Inc ADR 056752108   1,449,470 11,000 SH   DFND 1,2 11,000 0 0
Baxter International Inc COM 071813109   2,345,310 103,000 SH   DFND 1,2 103,000 0 0
Becton Dickinson & Co COM 075887109   4,492,080 24,000 SH   DFND 1,2 24,000 0 0
Berkshire Hathaway Inc COM 084670702   21,115,080 42,000 SH   DFND 1,2 42,000 0 0
Boeing Co/the COM 097023105   7,554,050 35,000 SH   DFND 1,2 35,000 0 0
Broadcom Inc COM 11135F101   4,948,650 15,000 SH   DFND 1,2 15,000 0 0
Brown-forman Corp COM 115637209   3,060,040 113,000 SH   DFND 1,2 113,000 0 0
Carnival Corp COM 143658300   3,613,750 125,000 SH   DFND 1,2 125,000 0 0
Carrier Global Corp COM 14448C104   1,373,100 23,000 SH   DFND 1,2 23,000 0 0
Chipotle Mexican Grill Inc COM 169656105   940,560 24,000 SH   DFND 1,2 24,000 0 0
Chubb Ltd COM H1467J104   1,693,500 6,000 SH   DFND 1,2 6,000 0 0
Coca-cola Co/the COM 191216100   2,984,400 45,000 SH   DFND 1,2 45,000 0 0
Comcast Corp COM 20030N101   7,014,578 223,252 SH   DFND 1,2 223,252 0 0
Conagra Brands Inc COM 205887102   3,185,940 174,000 SH   DFND 1,2 174,000 0 0
Constellation Brands Inc COM 21036P108   1,212,030 9,000 SH   DFND 1,2 9,000 0 0
Costco Wholesale Corp COM 22160K105   2,314,075 2,500 SH   DFND 1,2 2,500 0 0
Csx Corp COM 126408103   4,403,240 124,000 SH   DFND 1,2 124,000 0 0
Cvs Health Corp COM 126650100   6,785,100 90,000 SH   DFND 1 90,000 0 0
Danaher Corp COM 235851102   6,542,580 33,000 SH   DFND 1,2 33,000 0 0
Dollar General Corp COM 256677105   723,450 7,000 SH   DFND 1,2 7,000 0 0
Eaton Corp Plc COM G29183103   1,122,750 3,000 SH   DFND 1,2 3,000 0 0
Elanco Animal Health Inc COM 28414H103   1,591,060 79,000 SH   DFND 1,2 79,000 0 0
Elevance Health Inc COM 036752103   3,877,440 12,000 SH   DFND 1,2 12,000 0 0
Eli Lilly & Co COM 532457108   14,497,000 19,000 SH   DFND 1,2 19,000 0 0
Equinix Inc COM 29444U700   1,174,860 1,500 SH   DFND 1,2 1,500 0 0
Estee Lauder Cos Inc/the COM 518439104   2,996,080 34,000 SH   DFND 1,2 34,000 0 0
Extra Space Storage Inc COM 30225T102   2,677,860 19,000 SH   DFND 1,2 19,000 0 0
Fedex Corp COM 31428X106   2,829,720 12,000 SH   DFND 1,2 12,000 0 0
Fidelity National Information Services Inc COM 31620M106   2,835,420 43,000 SH   DFND 1,2 43,000 0 0
Franklin Resources Inc COM 354613101   3,238,200 140,000 SH   DFND 2 140,000 0 0
Ge Healthcare Technologies Inc COM 36266G107   2,565,816 34,165 SH   DFND 1,2 34,165 0 0
Global Payments Inc COM 37940X102   2,990,880 36,000 SH   DFND 1,2 36,000 0 0
Honeywell International Inc COM 438516106   2,947,000 14,000 SH   DFND 1,2 14,000 0 0
Humana Inc COM 444859102   4,162,720 16,000 SH   DFND 1,2 16,000 0 0
Intel Corp COM 458140100   4,462,150 133,000 SH   DFND 1,2 133,000 0 0
Invesco Qqq Trust Series 1 ETF 46090E103   25,815,910 43,000 SH   DFND 1,2 43,000 0 0
Invesco S&p 500 Equal Weight Etf ETF 46137V357   145,689,600 768,000 SH   DFND 1,2 768,000 0 0
Ishares 20 Year Treasury Bond Etf ETF 464287432   78,020,010 873,000 SH   DFND 1 873,000 0 0
Ishares Core S&p Small-cap Etf ETF 464287804   76,170,030 641,000 SH   DFND 1,2 641,000 0 0
Jb Hunt Transport Services Inc COM 445658107   3,220,080 24,000 SH   DFND 1,2 24,000 0 0
Kraft Heinz Co/the COM 500754106   3,411,240 131,000 SH   DFND 1,2 131,000 0 0
Lennar Corp COM 526057104   2,520,800 20,000 SH   DFND 1,2 20,000 0 0
Linde Plc COM G54950103   1,900,000 4,000 SH   DFND 1,2 4,000 0 0
Lockheed Martin Corp COM 539830109   5,990,520 12,000 SH   DFND 1,2 12,000 0 0
M&t Bank Corp COM 55261F104   988,100 5,000 SH   DFND 1,2 5,000 0 0
Marvell Technology Inc COM 573874104   3,278,730 39,000 SH   DFND 1,2 39,000 0 0
Mastercard Inc COM 57636Q104   6,256,910 11,000 SH   DFND 1,2 11,000 0 0
Mcdonald's Corp COM 580135101   5,470,020 18,000 SH   DFND 1,2 18,000 0 0
Medtronic Plc COM G5960L103   2,761,960 29,000 SH   DFND 1,2 29,000 0 0
Merck & Co Inc COM 58933Y105   12,841,290 153,000 SH   DFND 1,2 153,000 0 0
Meta Platforms Inc COM 30303M102   4,773,470 6,500 SH   DFND 1,2 6,500 0 0
Microchip Technology Inc COM 595017104   1,220,180 19,000 SH   DFND 1,2 19,000 0 0
Microsoft Corp COM 594918104   10,359,000 20,000 SH   DFND 1,2 20,000 0 0
Netflix Inc COM 64110L106   5,994,600 5,000 SH   DFND 1,2 5,000 0 0
Nike Inc COM 654106103   9,274,090 133,000 SH   DFND 1,2 133,000 0 0
Nov Inc COM 62955J103   331,250 25,000 SH   DFND 1 25,000 0 0
Nvidia Corp COM 67066G104   8,022,940 43,000 SH   DFND 1,2 43,000 0 0
Oracle Corp COM 68389X105   1,406,200 5,000 SH   DFND 1,2 5,000 0 0
Otis Worldwide Corp COM 68902V107   1,097,160 12,000 SH   DFND 1,2 12,000 0 0
Paychex Inc COM 704326107   2,383,088 18,800 SH   DFND 1,2 18,800 0 0
Paypal Holdings Inc COM 70450Y103   6,303,640 94,000 SH   DFND 1,2 94,000 0 0
Pepsico Inc COM 713448108   15,869,720 113,000 SH   DFND 1,2 113,000 0 0
Pfizer Inc COM 717081103   11,364,080 446,000 SH   DFND 1,2 446,000 0 0
Pnc Financial Services Group Inc/the COM 693475105   1,105,115 5,500 SH   DFND 1,2 5,500 0 0
Procter & Gamble Co/the COM 742718109   4,916,800 32,000 SH   DFND 1,2 32,000 0 0
Progressive Corp/the COM 743315103   1,975,600 8,000 SH   DFND 1,2 8,000 0 0
Prologis Inc COM 74340W103   5,382,440 47,000 SH   DFND 1,2 47,000 0 0
Qualcomm Inc COM 747525103   2,495,400 15,000 SH   DFND 1,2 15,000 0 0
Salesforce Inc COM 79466L302   6,517,500 27,500 SH   DFND 1,2 27,500 0 0
Schlumberger Nv COM 806857108   3,608,850 105,000 SH   DFND 1,2 105,000 0 0
Solventum Corp COM 83444M101   912,500 12,500 SH   DFND 1,2 12,500 0 0
Stanley Black & Decker Inc COM 854502101   1,858,250 25,000 SH   DFND 1,2 25,000 0 0
Target Corp COM 87612E106   4,305,600 48,000 SH   DFND 1,2 48,000 0 0
Texas Instruments Inc COM 882508104   2,572,220 14,000 SH   DFND 1,2 14,000 0 0
Thermo Fisher Scientific Inc COM 883556102   11,397,970 23,500 SH   DFND 1,2 23,500 0 0
Truist Financial Corp COM 89832Q109   2,331,720 51,000 SH   DFND 1,2 51,000 0 0
Uber Technologies Inc COM 90353T100   2,743,160 28,000 SH   DFND 1,2 28,000 0 0
Under Armour Inc COM 904311107   499,000 100,000 SH   DFND 1 100,000 0 0
Union Pacific Corp COM 907818108   3,309,180 14,000 SH   DFND 1,2 14,000 0 0
United Parcel Service Inc COM 911312106   5,011,800 60,000 SH   DFND 1,2 60,000 0 0
Unitedhealth Group Inc COM 91324P102   8,287,200 24,000 SH   DFND 1,2 24,000 0 0
Us Bancorp COM 902973304   4,398,030 91,000 SH   DFND 1,2 91,000 0 0
Verizon Communications Inc COM 92343V104   12,745,500 290,000 SH   DFND 1,2 290,000 0 0
Viatris Inc COM 92556V106   1,514,615 152,991 SH   DFND 1 152,991 0 0
Visa Inc COM 92826C839   8,193,120 24,000 SH   DFND 1,2 24,000 0 0
Volkswagen Ag ADR 928662600   660,000 60,000 SH   DFND 1,2 60,000 0 0
Walmart Inc COM 931142103   1,545,900 15,000 SH   DFND 1,2 15,000 0 0
Walt Disney Co/the COM 254687106   8,244,000 72,000 SH   DFND 1 72,000 0 0
Warner Bros Discovery Inc COM 934423104   3,283,614 168,132 SH   DFND 1,2 168,132 0 0
Wells Fargo & Co COM 949746101   2,766,060 33,000 SH   DFND 1,2 33,000 0 0
Workday Inc COM 98138H101   5,296,060 22,000 SH   DFND 1,2 22,000 0 0
Zimmer Biomet Holdings Inc COM 98956P102   1,970,000 20,000 SH   DFND 1,2 20,000 0 0
Zoetis Inc COM 98978V103   1,609,520 11,000 SH   DFND 1,2 11,000 0 0