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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
SPDR S&P Regional Banking ETF USD Class COM 78464A698   44,458 884,200 SH   SOLE   884,200 0 0
VanEck Semiconductor ETF USD Class COM 92189F676   59,240 263,300 SH   SOLE   263,300 0 0
SPDR S&P 500 ETF Trust USD Class COM 78462F103   239,461 457,800 SH   SOLE   457,800 0 0
SPDR S&P Biotech ETF USD Class COM 78464A870   52,427 552,500 SH   SOLE   552,500 0 0
Communication Services Select Sector SPDR Fund USD Class COM 81369Y852   50,915 623,500 SH   SOLE   623,500 0 0
Utilities Select Sector SPDR Fund USD Class COM 81369Y886   45,358 690,900 SH   SOLE   690,900 0 0