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
ISHARES TR IBOXX INV CP ETF 464287242 1,048,672 7,804,942 SH   DFND 1,2 7,804,942 0 0
ISHARES TR ISHS 1-5YR INVS 464288646 506,215 9,235,820 SH   DFND 1,2 9,235,820 0 0
ISHARES TR ISHS 5-10YR INVT 464288638 399,056 6,593,783 SH   DFND 1,2 6,593,783 0 0
ISHARES TR USD INV GRDE ETF 464288620 121,547 2,006,063 SH   DFND 1,2 2,006,063 0 0
ISHARES TR 0-5YR INVT GR CP 46434V100 4,977 96,028 SH   DFND 1,2 96,028 0 0
SPDR SER TR PORTFOLIO INTRMD 78464A375 349,563 9,524,868 SH   DFND 1,2 9,524,868 0 0
SPDR SER TR PORTFOLIO SHORT 78464A474 229,744 7,340,051 SH   DFND 1,2 7,340,051 0 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 1,279,658 15,471,618 SH   DFND 1,2 15,471,618 0 0
VANGUARD SCOTTSDALE FDS INT-TERM CORP 92206C870 1,123,987 11,822,728 SH   DFND 1,2 11,822,728 0 0