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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
Invesco Senior Loan ETF INVESCO EXCH TRADED FD TR II 46138G508   14,968,928 719,660 SH   SOLE   719,660 0 0
iShares TIPS Bond ETF ISHARES TR 464287176   11,722,001 106,322 SH   SOLE   106,322 0 0
iShares JPMorgan USD Emerging Markets Bond ETF ISHARES TR 464288281   3,787,692 43,900 SH   SOLE   43,900 0 0
ISHARES NATIONAL MUNI BOND ETF ISHARES TR 464288414   10,870,966 100,900 SH   SOLE   100,900 0 0
ISHARES S&P US PREFERRED STOCK INDEX FUND ISHARES TR 464288687   1,002,162 32,100 SH   SOLE   32,100 0 0
IShares Broad USD High Yield Corporate Bond ETF ISHARES TR 46435U853   5,432,573 152,815 SH   SOLE   152,815 0 0
Spdr Bloomberg Barclays Convertible SPDR SER TR 78464A359   1,112,893 16,593 SH   SOLE   16,593 0 0
SPDR BLOOMBERG BARCLAYS SHORT TERM HIGH YIELD BOND SPDR SER TR 78468R408   8,594,640 346,000 SH   SOLE   346,000 0 0
Vaneck Vectors Emerging Market High Yield Bond ETF VANECK ETF TRUST 92189F353   5,842,216 317,167 SH   SOLE   317,167 0 0
Vanguard Emerging Markets Government Bond Fund ETF VANGUARD WHITEHALL FDS 921946885   5,213,665 83,673 SH   SOLE   83,673 0 0
Vanguard Short-Term Inflation-Protected VANGUARD MALVERN FDS 922020805   12,672,300 265,000 SH   SOLE   265,000 0 0
Vanguard Mortgage-Backed Securities ETF VANGUARD SCOTTSDALE FDS 92206C771   7,985,885 171,555 SH   SOLE   171,555 0 0
VANGUARD REAL ESTATE ETF VANGUARD INDEX FDS 922908553   630,024 7,587 SH   SOLE   7,587 0 0