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
Xtrackers Low Beta High Yield Bond ETF ETF 233051267 1,088,520 24,406,282 SH   DFND 1 2 24,406,282 0 0
Xtrackers USD High Yield Corporate Bond ETF ETF 233051432 269,496 7,989,808 SH   DFND 1 2 7,989,808 0 0
iShares iBoxx $ Investment Grade Corporate Bond ETF ETF 464287242 26,322 239,228 SH   DFND 1 2 239,228 0 0
iShares Russell Mid-Cap Value ETF ETF 464287473 19,766 194,604 SH   DFND 1 2 194,604 0 0
iShares Russell Mid-Cap Growth ETF ETF 464287481 148,416 1,873,472 SH   DFND 1 2 1,873,472 0 0
iShares Broad USD Investment Grade Corporate Bond ETF ETF 464288620 127,425 2,500,000 SH   DFND 1 2 2,500,000 0 0
iShares 5-10 Year Investment Grade Corporate Bond ETF ETF 464288638 38,354 751,159 SH   DFND 1 2 751,159 0 0
iShares 1-5 Year Investment Grade Corporate Bond ETF ETF 464288646 33,896 670,543 SH   DFND 1 2 670,543 0 0
Vanguard S&P 500 ETF ETF 922908363 15,934 45,935 SH   DFND 1 2 45,935 0 0
Tidewater Inc. COM 88642R109 2,527 119,817 SH   DFND 1 2 119,817 0 0
Vanguard Short-Term Corporate Bond ETF ETF 92206C409 142,263 1,865,500 SH   DFND 1 2 1,865,500 0 0
Vanguard Intermediate-Term Corporate Bond ETF ETF 92206C870 128,712 1,608,500 SH   DFND 1 2 1,608,500 0 0