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
3m Co COM 88579Y101 1,543 10,000 SH   DFND 1 10,000 0 0
Agilent Technologies Inc COM 00846U101 1,736 45,000 SH   DFND 1 45,000 0 0
Alibaba Group Holding Ltd ADR 01609W102 2,468 30,000 SH   DFND 1 30,000 0 0
Allergan Plc COM G0083B108 2,428 8,000 SH   DFND 2 8,000 0 0
Altria Group Inc COM 02209S103 2,446 50,000 SH   DFND 2 50,000 0 0
American Express Co COM 025816109 14,378 185,000 SH   DFND 1,2 185,000 0 0
American Tower Corp REIT 03027X100 2,332 25,000 SH   DFND 2 25,000 0 0
Ameriprise Financial Inc COM 03076C106 4,997 40,000 SH   DFND 1,2 40,000 0 0
Amgen Inc COM 031162100 3,838 25,000 SH   DFND 2 25,000 0 0
Anadarko Petroleum Corp COM 032511107 3,513 45,000 SH   DFND 1 45,000 0 0
Apache Corp COM 037411105 2,882 50,000 SH   DFND 1 50,000 0 0
Apple Inc COM 037833100 12,543 100,000 SH   DFND 1,2 100,000 0 0
At&t Inc COM 00206R102 16,339 460,000 SH   DFND 1,2 460,000 0 0
Autodesk Inc COM 052769106 1,252 25,000 SH   DFND 2 25,000 0 0
Baidu Inc ADR 056752108 2,389 12,000 SH   DFND 2 12,000 0 0
Bank Of America Corp COM 060505104 13,616 800,000 SH   DFND 1,2 800,000 0 0
Baxter International Inc COM 071813109 2,797 40,000 SH   DFND 2 40,000 0 0
Becton Dickinson And Co COM 075887109 2,550 18,000 SH   DFND 2 18,000 0 0
Berkshire Hathaway Inc COM 084670702 12,250 90,000 SH   DFND 1,2 90,000 0 0
Biogen Inc COM 09062X103 2,424 6,000 SH   DFND 1,2 6,000 0 0
Blackrock Inc COM 09247X101 2,422 7,000 SH   DFND 1 7,000 0 0
Bp Plc ADR 055622104 5,594 140,000 SH   DFND 1 140,000 0 0
Capital One Financial Corp COM 14040H105 3,959 45,000 SH   DFND 2 45,000 0 0
Cbs Corp COM 124857202 3,885 70,000 SH   DFND 2 70,000 0 0
Celgene Corp COM 151020104 2,546 22,000 SH   DFND 1,2 22,000 0 0
Chevron Corp COM 166764100 14,471 150,000 SH   DFND 1,2 150,000 0 0
Cisco Systems Inc COM 17275R102 9,748 355,000 SH   DFND 1,2 355,000 0 0
Citigroup Inc COM 172967424 5,248 95,000 SH   DFND 2 95,000 0 0
Coach Inc COM 189754104 4,153 120,000 SH   DFND 1 120,000 0 0
Coca-cola Co/the COM 191216100 19,419 495,000 SH   DFND 1,2 495,000 0 0
Colgate-palmolive Co COM 194162103 5,233 80,000 SH   DFND 2 80,000 0 0
Comcast Corp COM 20030N101 3,909 65,000 SH   DFND 1,2 65,000 0 0
Conocophillips COM 20825C104 11,361 185,000 SH   DFND 1,2 185,000 0 0
Costco Wholesale Corp COM 22160K105 2,026 15,000 SH   DFND 1 15,000 0 0
Crown Castle International Corp REIT 22822V101 2,409 30,000 SH   DFND 1 30,000 0 0
Csx Corp COM 126408103 1,469 45,000 SH   DFND 2 45,000 0 0
Danaher Corp COM 235851102 2,444 28,550 SH   DFND 2 28,550 0 0
Devon Energy Corp COM 25179M103 2,677 45,000 SH   DFND 1 45,000 0 0
Discover Financial Services COM 254709108 2,881 50,000 SH   DFND 2 50,000 0 0
Discovery Communications Inc COM 25470F104 2,661 80,000 SH   DFND 2 80,000 0 0
Duke Energy Corp COM 26441C204 7,062 100,000 SH   DFND 1,2 100,000 0 0
Ebay Inc COM 278642103 1,205 20,000 SH   DFND 2 20,000 0 0
Ecolab Inc COM 278865100 3,957 35,000 SH   DFND 2 35,000 0 0
Ei Du Pont De Nemours & Co COM 263534109 1,279 20,000 SH   DFND 2 20,000 0 0
Emc Corp/ma COM 268648102 2,243 85,000 SH   DFND 1 85,000 0 0
Emerson Electric Co COM 291011104 9,700 175,000 SH   DFND 1,2 175,000 0 0
Eog Resources Inc COM 26875P101 4,378 50,000 SH   DFND 1 50,000 0 0
Express Scripts Holding Co COM 30219G108 2,668 30,000 SH   DFND 2 30,000 0 0
Exxon Mobil Corp COM 30231G102 23,296 280,000 SH   DFND 1,2 280,000 0 0
Facebook Inc COM 30303M102 6,861 80,000 SH   DFND 1 80,000 0 0
Fastenal Co COM 311900104 5,062 120,000 SH   DFND 1,2 120,000 0 0
Fedex Corp COM 31428X106 2,556 15,000 SH   DFND 2 15,000 0 0
Ford Motor Co COM 345370860 4,728 315,000 SH   DFND 1 315,000 0 0
Franklin Resources Inc COM 354613101 4,903 100,000 SH   DFND 2 100,000 0 0
Freeport-mcmoran Inc COM 35671D857 7,634 410,000 SH   DFND 1,2 410,000 0 0
General Electric Co COM 369604103 17,270 650,000 SH   DFND 1,2 650,000 0 0
General Motors Co COM 37045V100 9,499 285,000 SH   DFND 1 285,000 0 0
Google COM 38259P706 3,644 7,000 SH   DFND 2 7,000 0 0
Google Inc COM 38259P508 10,801 20,000 SH   DFND 1 20,000 0 0
Halliburton Co COM 406216101 3,446 80,000 SH   DFND 1 80,000 0 0
Health Care Select Sector Spdr Fund ETF 81369Y209 5,207 70,000 SH   DFND 2 70,000 0 0
Hershey Co/the COM 427866108 2,221 25,000 SH   DFND 1,2 25,000 0 0
Honeywell International Inc COM 438516106 2,549 25,000 SH   DFND 1 25,000 0 0
Intel Corp COM 458140100 7,452 245,000 SH   DFND 1,2 245,000 0 0
International Business Machines Corp COM 459200101 7,482 46,000 SH   DFND 2 46,000 0 0
Invesco Ltd COM G491BT108 2,437 65,000 SH   DFND 1,2 65,000 0 0
Ishares 20+ Year Treasury Bond Etf ETF 464287432 5,286 45,000 SH   DFND 1 45,000 0 0
Ishares Iboxx $ High Yield Corporate Bond Etf ETF 464288513 48,840 550,000 SH   DFND 1 550,000 0 0
Ishares Iboxx $ Investment Grade Corporate Bond Etf ETF 464287242 35,295 305,000 SH   DFND 1 305,000 0 0
Ishares National Amt-free Muni Bond Etf ETF 464288414 97,389 900,000 SH   DFND 1 900,000 0 0
Ishares Tips Bond Etf ETF 464287176 49,862 445,000 SH   DFND 1 445,000 0 0
Ishares Us Real Estate Etf ETF 464287739 4,991 70,000 SH   DFND 1 70,000 0 0
Johnson & Johnson COM 478160104 19,492 200,000 SH   DFND 1,2 200,000 0 0
Kimberly-clark Corp COM 494368103 2,649 25,000 SH   DFND 1 25,000 0 0
KKR & CO LP COM 48248M102 5,712 250,000 SH   DFND 1 250,000 0 0
Las Vegas Sands Corp COM 517834107 2,366 45,000 SH   DFND 1 45,000 0 0
Linear Technology Corp COM 535678106 3,538 80,000 SH   DFND 1 80,000 0 0
Lowe's Cos Inc COM 548661107 1,507 22,500 SH   DFND 1 22,500 0 0
Macy's Inc COM 55616P104 1,012 15,000 SH   DFND 1 15,000 0 0
Mastercard Inc COM 57636Q104 2,337 25,000 SH   DFND 2 25,000 0 0
Mcdonald's Corp COM 580135101 9,982 105,000 SH   DFND 1,2 105,000 0 0
Medtronic Plc COM G5960L103 2,593 35,000 SH   DFND 2 35,000 0 0
Merck & Co Inc COM 58933Y105 14,802 260,000 SH   DFND 1,2 260,000 0 0
Michael Kors Holdings Ltd COM G60754101 2,105 50,000 SH   DFND 1 50,000 0 0
Microsoft Corp COM 594918104 17,660 400,000 SH   DFND 1,2 400,000 0 0
Monsanto Co COM 61166W101 3,731 35,000 SH   DFND 2 35,000 0 0
National Oilwell Varco Inc COM 637071101 1,207 25,000 SH   DFND 1 25,000 0 0
Noble Corp COM G65431101 2,693 175,000 SH   DFND 1 175,000 0 0
Occidental Petroleum Corp COM 674599105 5,444 70,000 SH   DFND 1,2 70,000 0 0
Oracle Corp COM 68389X105 9,672 240,000 SH   DFND 2 240,000 0 0
Pepsico Inc COM 713448108 20,068 215,000 SH   DFND 1,2 215,000 0 0
PFIZER INC COM 717081103 5,029 150,000 SH   DFND 1 150,000 0 0
Philip Morris International Inc COM 718172109 18,840 235,000 SH   DFND 1,2 235,000 0 0
Praxair Inc COM 74005P104 2,989 25,000 SH   DFND 1 25,000 0 0
Precision Castparts Corp COM 740189105 4,997 25,000 SH   DFND 2 25,000 0 0
Priceline Group Inc/the COM 741503403 3,454 3,000 SH   DFND 1 3,000 0 0
Procter & Gamble Co/the COM 742718109 19,560 250,000 SH   DFND 1,2 250,000 0 0
Prudential Financial Inc COM 744320102 8,752 100,000 SH   DFND 1,2 100,000 0 0
Qualcomm Inc COM 747525103 10,960 175,000 SH   DFND 1,2 175,000 0 0
Ralph Lauren Corp COM 751212101 2,647 20,000 SH   DFND 1 20,000 0 0
Range Resources Corp COM 75281A109 2,469 50,000 SH   DFND 1 50,000 0 0
Royal Caribbean Cruises Ltd COM V7780T103 1,180 15,000 SH   DFND 2 15,000 0 0
Sandisk Corp COM 80004C101 2,038 35,000 SH   DFND 1 35,000 0 0
Schlumberger Ltd COM 806857108 5,171 60,000 SH   DFND 1 60,000 0 0
Southern Co/the COM 842587107 2,304 55,000 SH   DFND 1 55,000 0 0
Southwestern Energy Co COM 845467109 2,159 95,000 SH   DFND 1 95,000 0 0
Sysco Corp COM 871829107 4,874 135,000 SH   DFND 1,2 135,000 0 0
T Rowe Price Group Inc COM 74144T108 1,555 20,000 SH   DFND 1 20,000 0 0
Texas Instruments Inc COM 882508104 1,545 30,000 SH   DFND 1,2 30,000 0 0
Thermo Fisher Scientific Inc COM 883556102 5,839 45,000 SH   DFND 2 45,000 0 0
Tiffany & Co COM 886547108 4,590 50,000 SH   DFND 1 50,000 0 0
Travelers Cos Inc/the COM 89417E109 1,450 15,000 SH   DFND 1 15,000 0 0
Twenty-first Century Fox Inc COM 90130A101 5,044 155,000 SH   DFND 1 155,000 0 0
Union Pacific Corp COM 907818108 4,768 50,000 SH   DFND 2 50,000 0 0
United Parcel Service Inc COM 911312106 9,691 100,000 SH   DFND 1,2 100,000 0 0
United Technologies Corp COM 913017109 13,866 125,000 SH   DFND 1,2 125,000 0 0
Unitedhealth Group Inc COM 91324P102 1,830 15,000 SH   DFND 2 15,000 0 0
Us Bancorp/mn COM 902973304 7,378 170,000 SH   DFND 1,2 170,000 0 0
Utilities Select Sector Spdr Fund ETF 81369Y886 35,863 865,000 SH   DFND 1,2 865,000 0 0
Verizon Communications Inc COM 92343V104 12,119 260,000 SH   DFND 1,2 260,000 0 0
Visa Inc COM 92826C839 4,700 70,000 SH   DFND 2 70,000 0 0
Vmware Inc COM 928563402 1,543 18,000 SH   DFND 2 18,000 0 0
Wal-mart Stores Inc COM 931142103 14,541 205,000 SH   DFND 1,2 205,000 0 0
Ww Grainger Inc COM 384802104 2,603 11,000 SH   DFND 2 11,000 0 0
Wynn Resorts Ltd COM 983134107 5,427 55,000 SH   DFND 1 55,000 0 0
Xilinx Inc COM 983919101 3,754 85,000 SH   DFND 1 85,000 0 0
Yahoo! Inc COM 984332106 2,357 60,000 SH   DFND 2 60,000 0 0
Zimmer Holdings Inc COM 98956P102 2,731 25,000 SH   DFND 2 25,000 0 0