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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
ISHARES TR IBOXX INV CP ETF 464287242 801,453 7,103,822 SH   DFND 1,2 7,103,822 0 0
ISHARES TR INTRMD CR BD ETF 464288638 61,123 1,166,020 SH   DFND 1 1,166,020 0 0
SPDR SERIES TRUST PORTFOLIO INTRMD 78464A375 66,080 2,000,000 SH   DFND 1 2,000,000 0 0
VANGUARD SCOTTSDALE FDS LG-TERM COR BD 92206C813 56,360 741,704 SH   DFND 1 741,704 0 0
PIMCO EQUITY SER RAFI DYN EMERG 72202L389 2,062 93,300 SH   DFND 2 93,300 0 0