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
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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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
BLACKROCK BUILD AMERICA BOND T SHS 09248X10 4,514 240,000 SH   SOLE   240,000 0 0
BLACKROCK CORPORATE HIGH YIELD COM 09255P10 3,234 275,000 SH   SOLE   275,000 0 0
BLACKROCK DEBT STRATEGIES FUND COM 09255R10 3,262 811,541 SH   SOLE   811,541 0 0
DEX MEDIA INC COM 25213A10 8 991 SH   SOLE   991 0 0
GENERAL MOTORS CO COM 37045V10 66 1,828 SH   SOLE   1,828 0 0
ISHARES IBOXX HIGH YIELD COR IBOXX HI YD ETF 46428851 13,917 152,000 SH   SOLE   152,000 0 0
ISHARES INTERNATIONAL INFLATIO INTL INFL-LKD BD 46429B77 4,654 100,000 SH   SOLE   100,000 0 0
ISHARES JP MORGAN USD EMERGING JP MOR EM MK ETF 46428828 9,810 90,000 SH   SOLE   90,000 0 0
PIMCO 0 5 YEAR HIGH YIELD CORP 0-5 HIGH YIELD 72201R78 10,490 100,000 SH   SOLE   100,000 0 0
PIMCO HIGH INCOME FUND COM SHS 72201410 6,026 504,700 SH   SOLE   504,700 0 0
SPDR BARCLAYS HIGH YIELD BOND BRC HGH YLD BD 78464A41 5,737 144,000 SH   SOLE   144,000 0 0
SPDR BARCLAYS SHORT TERM HIGH SHT TRM HGH YLD 78468R40 9,926 325,000 SH   SOLE   325,000 0 0
SPDR DB INTERNATIONAL GOVERNME DB INT GVT ETF 78464A49 14,600 245,000 SH   SOLE   245,000 0 0
WESTERN ASSET HIGH INCOME FUND COM 95766J10 4,715 500,000 SH   SOLE   500,000 0 0