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
BARRICK GOLD CORP COM 067901108 1,471,800 60,000 SH   DFND   60,000 0 0
ALPHABET INC-CL A COM 02079K305 7,370,577 2,650 SH   DFND   2,650 0 0
AMAZON.COM INC COM 023135106 5,215,920 1,600 SH   DFND   1,600 0 0
AMEDISYS INC COM 023436108 482,412 2,800 SH   DFND   2,800 0 0
AMERICAN EXPRESS CO COM 025816109 748,000 4,000 SH   DFND   4,000 0 0
AMERICAN WATER WORKS CO INC COM 030420103 993,180 6,000 SH   DFND   6,000 0 0
APPLE INC COM 037833100 4,016,030 23,000 SH   DFND   23,000 0 0
APPLIED MATERIALS INC COM 038222105 2,240,600 17,000 SH   DFND   17,000 0 0
ATMOS ENERGY CORP COM 049560105 836,430 7,000 SH   DFND   7,000 0 0
BOYD GAMING CORP COM 103304101 1,710,280 26,000 SH   DFND   26,000 0 0
CACI INTERNATIONAL INC -CL A CL A 127190304 1,656,930 5,500 SH   DFND   5,500 0 0
DOLLAR GENERAL CORP COM 256677105 667,890 3,000 SH   DFND   3,000 0 0
EASTGROUP PROPERTIES INC COM 277276101 2,439,360 12,000 SH   DFND   12,000 0 0
EXLSERVICE HOLDINGS INC COM 302081104 1,432,700 10,000 SH   DFND   10,000 0 0
EXXON MOBIL CORP COM 30231G102 3,055,830 37,000 SH   DFND   37,000 0 0
FEDERAL SIGNAL CORP COM 313855108 371,250 11,000 SH   DFND   11,000 0 0
GLOBUS MEDICAL INC - A CL A 379577208 1,018,164 13,800 SH   DFND   13,800 0 0
HORACE MANN EDUCATORS COM 440327104 1,694,115 40,500 SH   DFND   40,500 0 0
INTEGRA LIFESCIENCES HOLDING COM 457985208 1,182,384 18,400 SH   DFND   18,400 0 0
INTUIT INC COM 461202103 4,327,560 9,000 SH   DFND   9,000 0 0
ISHARES MSCI KOKUSAI ETF MSCI KOKUSAI ETF 464288265 21,257,468 219,400 SH   DFND   219,400 0 0
ISHARES CORE US REIT ETF CRE U S REIT ETF 464288521 1,700,295 26,300 SH   DFND   26,300 0 0
J & J SNACK FOODS CORP COM 466032109 2,016,300 13,000 SH   DFND   13,000 0 0
LAMB WESTON HOLDINGS INC COM 513272104 1,917,120 32,000 SH   DFND   32,000 0 0
LANCASTER COLONY CORP COM 513847103 1,014,220 6,800 SH   DFND   6,800 0 0
NEXTERA ENERGY INC COM 65339F101 1,694,200 20,000 SH   DFND   20,000 0 0
PS BUSINESS PARKS INC/MD COM 69360J107 2,453,968 14,600 SH   DFND   14,600 0 0
REPUBLIC SERVICES INC COM 760759100 4,107,500 31,000 SH   DFND   31,000 0 0
SAFETY INSURANCE GROUP INC COM 78648T100 1,453,600 16,000 SH   DFND   16,000 0 0
SALESFORCE INC COM 79466L302 5,308,000 25,000 SH   DFND   25,000 0 0
TECHNOLOGY SELECT SECT SPDR TECHNOLOGY 81369Y803 9,615,265 60,500 SH   DFND   60,500 0 0
SERVICE CORP INTERNATIONAL COM 817565104 658,200 10,000 SH   DFND   10,000 0 0
WEBSTER FINANCIAL CORP COM 947890109 1,403,000 25,000 SH   DFND   25,000 0 0
XYLEM INC COM 98419M100 3,069,360 36,000 SH   DFND   36,000 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 1,299,430 2,200 SH   DFND   2,200 0 0
ETSY INC COM 29786A106 2,112,760 17,000 SH   DFND   17,000 0 0
META PLATFORMS INC-CLASS A CL A 30303M102 1,667,700 7,500 SH   DFND   7,500 0 0
UNITEDHEALTH GROUP INC COM 91324P102 2,039,880 4,000 SH   DFND   4,000 0 0
HELEN OF TROY LTD COM G4388N106 391,680 2,000 SH   DFND   2,000 0 0
ESSENTIAL UTILITIES INC COM 29670G102 715,820 14,000 SH   DFND   14,000 0 0
MICROSOFT CORP COM 594918104 5,857,890 19,000 SH   DFND   19,000 0 0
ISHARES RUSSELL 2000 ETF RUSSELL 2000 ETF 464287655 3,489,590 17,000 SH   DFND   17,000 0 0
WEST PHARMACEUTICAL SERVICES COM 955306105 4,312,455 10,500 SH   DFND   10,500 0 0
AIR PRODUCTS & CHEMICALS INC COM 009158106 999,640 4,000 SH   DFND   4,000 0 0
ITRON INC COM 465741106 1,106,280 21,000 SH   DFND   21,000 0 0
T-MOBILE US INC COM 872590104 3,465,450 27,000 SH   DFND   27,000 0 0
BALL CORP COM 058498106 900,000 10,000 SH   DFND   10,000 0 0
MASIMO CORP COM 574795100 523,944 3,600 SH   DFND   3,600 0 0
OTIS WORLDWIDE CORP COM 68902V107 3,270,375 42,500 SH   DFND   42,500 0 0
JPMORGAN CHASE & CO COM 46625H100 2,726,400 20,000 SH   DFND   20,000 0 0
BARNES GROUP INC COM 067806109 2,049,690 51,000 SH   DFND   51,000 0 0
AON PLC-CLASS A SHS CL A G0403H108 2,930,670 9,000 SH   DFND   9,000 0 0
BOOT BARN HOLDINGS INC COM 099406100 379,160 4,000 SH   DFND   4,000 0 0
OFG BANCORP COM 67103X102 1,917,893 71,993 SH   DFND   71,993 0 0
MGM RESORTS INTERNATIONAL COM 552953101 2,516,400 60,000 SH   DFND   60,000 0 0
FOX FACTORY HOLDING CORP COM 35138V102 391,800 4,000 SH   DFND   4,000 0 0
LOWE'S COS INC COM 548661107 1,617,520 8,000 SH   DFND   8,000 0 0
FACTSET RESEARCH SYSTEMS INC COM 303075105 434,150 1,000 SH   DFND   1,000 0 0
HEALTHCARE SERVICES GROUP COM 421906108 464,250 25,000 SH   DFND   25,000 0 0
PDC ENERGY INC COM 69327R101 3,924,720 54,000 SH   DFND   54,000 0 0
KONTOOR BRANDS INC COM 50050N103 620,250 15,000 SH   DFND   15,000 0 0
MAXLINEAR INC COM 57776J100 291,750 5,000 SH   DFND   5,000 0 0
EVERTEC INC COM 30040P103 1,637,200 40,000 SH   DFND   40,000 0 0
RAYTHEON TECHNOLOGIES CORP COM 75513E101 2,972,100 30,000 SH   DFND   30,000 0 0
COSTCO WHOLESALE CORP COM 22160K105 3,455,100 6,000 SH   DFND   6,000 0 0
ISHARES CORE S&P SMALL-CAP E CORE S&P SCP ETF 464287804 3,667,920 34,000 SH   DFND   34,000 0 0
SPDR S&P 600 SMALL CAP ETF S&P 600 SML CAP 78464A813 1,778,590 19,000 SH   DFND   19,000 0 0
SCHLUMBERGER LTD COM 806857108 2,809,080 68,000 SH   DFND   68,000 0 0
INTERFACE INC COM 458665304 1,085,600 80,000 SH   DFND   80,000 0 0
BANK OF AMERICA CORP COM 060505104 2,885,400 70,000 SH   DFND   70,000 0 0
TE CONNECTIVITY LTD SHS H84989104 1,571,760 12,000 SH   DFND   12,000 0 0
ILLUMINA INC COM 452327109 1,222,900 3,500 SH   DFND   3,500 0 0
ZOETIS INC CL A 98978V103 2,828,850 15,000 SH   DFND   15,000 0 0
MARTIN MARIETTA MATERIALS COM 573284106 3,464,010 9,000 SH   DFND   9,000 0 0
INOGEN INC COM 45780L104 1,296,800 40,000 SH   DFND   40,000 0 0
ANSYS INC COM 03662Q105 2,890,615 9,100 SH   DFND   9,100 0 0
NORWEGIAN CRUISE LINE HOLDIN SHS G66721104 1,750,400 80,000 SH   DFND   80,000 0 0
ANI PHARMACEUTICALS INC COM 00182C103 646,530 23,000 SH   DFND   23,000 0 0
LANTHEUS HOLDINGS INC COM 516544103 1,106,200 20,000 SH   DFND   20,000 0 0
SCHWAB (CHARLES) CORP COM 808513105 2,529,300 30,000 SH   DFND   30,000 0 0
CAMECO CORP COM 13321L108 1,164,000 40,000 SH   DFND   40,000 0 0
MARSH & MCLENNAN COS COM 571748102 3,749,240 22,000 SH   DFND   22,000 0 0
LITHIA MOTORS INC COM 536797103 300,120 1,000 SH   DFND   1,000 0 0
SUPERNUS PHARMACEUTICALS INC COM 868459108 1,389,760 43,000 SH   DFND   43,000 0 0
NASDAQ INC COM 631103108 1,069,200 6,000 SH   DFND   6,000 0 0
ELF BEAUTY INC COM 26856L103 645,750 25,000 SH   DFND   25,000 0 0
VANGUARD REAL ESTATE ETF REAL ESTATE ETF 922908553 2,817,620 26,000 SH   DFND   26,000 0 0
PAYPAL HOLDINGS INC COM 70450Y103 2,313,000 20,000 SH   DFND   20,000 0 0
VANGUARD RUSSELL 2000 ETF VNG RUS2000IDX 92206C664 1,946,975 23,500 SH   DFND   23,500 0 0
DEXCOM INC COM 252131107 2,302,200 4,500 SH   DFND   4,500 0 0
MORGAN STANLEY COM NEW 617446448 611,800 7,000 SH   DFND   7,000 0 0
JETBLUE AIRWAYS CORP COM 477143101 1,016,600 68,000 SH   DFND   68,000 0 0
MOSAIC CO/THE COM 61945C103 1,396,500 21,000 SH   DFND   21,000 0 0
PROCTER & GAMBLE CO/THE COM 742718109 611,200 4,000 SH   DFND   4,000 0 0
VANGUARD S&P 500 ETF S&P 500 ETF SHS 922908363 4,276,251 10,300 SH   DFND   10,300 0 0
BLOCK INC CL A 852234103 1,356,000 10,000 SH   DFND   10,000 0 0
PHILIP MORRIS INTERNATIONAL COM 718172109 1,315,160 14,000 SH   DFND   14,000 0 0
CONAGRA BRANDS INC COL 205887102 1,107,810 33,000 SH   DFND   33,000 0 0