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
Expires: July 31, 2015
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 258 15,000 SH DFND 15,000 0 0
ALPHABET INC-CL A COM 02079K305 3,794 43,000 SH DFND 43,000 0 0
AMAZON.COM INC COM 023135106 1,680 20,000 SH DFND 20,000 0 0
AMEDISYS INC COM 023436108 234 2,800 SH DFND 2,800 0 0
AMERICAN EXPRESS CO COM 025816109 296 2,000 SH DFND 2,000 0 0
AMERICAN WATER WORKS CO INC COM 030420103 457 3,000 SH DFND 3,000 0 0
APPLE INC COM 037833100 2,209 17,000 SH DFND 17,000 0 0
ATMOS ENERGY CORP COM 049560105 784 7,000 SH DFND 7,000 0 0
BOYD GAMING CORP COM 103304101 763 14,000 SH DFND 14,000 0 0
CVS HEALTH CORP COM 126650100 1,025 11,000 SH DFND 11,000 0 0
DOLLAR GENERAL CORP COM 256677105 542 2,200 SH DFND 2,200 0 0
EASTGROUP PROPERTIES INC COM 277276101 1,777 12,000 SH DFND 12,000 0 0
EXLSERVICE HOLDINGS INC COM 302081104 1,694 10,000 SH DFND 10,000 0 0
EXXON MOBIL CORP COM 30231G102 4,633 42,000 SH DFND 42,000 0 0
FEDERAL SIGNAL CORP COM 313855108 511 11,000 SH DFND 11,000 0 0
GLOBUS MEDICAL INC - A CL A 379577208 1,025 13,800 SH DFND 13,800 0 0
HORACE MANN EDUCATORS COM 440327104 1,513 40,500 SH DFND 40,500 0 0
INTEGRA LIFESCIENCES HOLDING COM 457985208 1,032 18,400 SH DFND 18,400 0 0
ISHARES MSCI KOKUSAI ETF MSCI KOKUSAI ETF 464288265 12,259 151,800 SH DFND 151,800 0 0
ISHARES CORE US REIT ETF CRE U S REIT ETF 464288521 954 19,300 SH DFND 19,300 0 0
J & J SNACK FOODS CORP COM 466032109 2,246 15,000 SH DFND 15,000 0 0
LAMB WESTON HOLDINGS INC COM 513272104 3,574 40,000 SH DFND 40,000 0 0
LANCASTER COLONY CORP COM 513847103 947 4,800 SH DFND 4,800 0 0
NEXTERA ENERGY INC COM 65339F101 1,839 22,000 SH DFND 22,000 0 0
REPUBLIC SERVICES INC COM 760759100 2,838 22,000 SH DFND 22,000 0 0
SAFETY INSURANCE GROUP INC COM 78648T100 1,601 19,000 SH DFND 19,000 0 0
SALESFORCE INC COM 79466L302 928 7,000 SH DFND 7,000 0 0
HEALTH CARE SELECT SECTOR SBI HEALTHCARE 81369Y209 4,211 31,000 SH DFND 31,000 0 0
TECHNOLOGY SELECT SECT SPDR TECHNOLOGY 81369Y803 3,547 28,500 SH DFND 28,500 0 0
SERVICE CORP INTERNATIONAL COM 817565104 691 10,000 SH DFND 10,000 0 0
WEBSTER FINANCIAL CORP COM 947890109 1,184 25,000 SH DFND 25,000 0 0
XYLEM INC COM 98419M100 1,106 10,000 SH DFND 10,000 0 0
META PLATFORMS INC-CLASS A CL A 30303M102 1,745 14,500 SH DFND 14,500 0 0
UNITEDHEALTH GROUP INC COM 91324P102 3,711 7,000 SH DFND 7,000 0 0
ESSENTIAL UTILITIES INC COM 29670G102 668 14,000 SH DFND 14,000 0 0
MICROSOFT CORP COM 594918104 2,398 10,000 SH DFND 10,000 0 0
ITRON INC COM 465741106 760 15,000 SH DFND 15,000 0 0
T-MOBILE US INC COM 872590104 2,380 17,000 SH DFND 17,000 0 0
MASIMO CORP COM 574795100 533 3,600 SH DFND 3,600 0 0
OTIS WORLDWIDE CORP COM 68902V107 1,762 22,500 SH DFND 22,500 0 0
JPMORGAN CHASE & CO COM 46625H100 1,207 9,000 SH DFND 9,000 0 0
ROYAL GOLD INC COM 780287108 338 3,000 SH DFND 3,000 0 0
BARNES GROUP INC COM 067806109 1,266 31,000 SH DFND 31,000 0 0
CHART INDUSTRIES INC COM 16115Q308 691 6,000 SH DFND 6,000 0 0
AON PLC-CLASS A SHS CL A G0403H108 3,902 13,000 SH DFND 13,000 0 0
OFG BANCORP COM 67103X102 1,984 71,993 SH DFND 71,993 0 0
MGM RESORTS INTERNATIONAL COM 552953101 939 28,000 SH DFND 28,000 0 0
SPDR S&P 500 ETF TRUST TR UNIT 78462F103 3,059 8,000 SH DFND 8,000 0 0
LOWE'S COS INC COM 548661107 797 4,000 SH DFND 4,000 0 0
HEALTHCARE SERVICES GROUP COM 421906108 300 25,000 SH DFND 25,000 0 0
PDC ENERGY INC COM 69327R101 2,412 38,000 SH DFND 38,000 0 0
EVERTEC INC COM 30040P103 1,133 35,000 SH DFND 35,000 0 0
RAYTHEON TECHNOLOGIES CORP COM 75513E101 4,239 42,000 SH DFND 42,000 0 0
ISHARES CORE S&P SMALL-CAP E CORE S&P SCP ETF 464287804 3,596 38,000 SH DFND 38,000 0 0
SPDR S&P 600 SMALL CAP ETF S&P 600 SML CAP 78464A813 3,247 39,500 SH DFND 39,500 0 0
SCHLUMBERGER LTD COM 806857108 2,138 40,000 SH DFND 40,000 0 0
INTERFACE INC COM 458665304 790 80,000 SH DFND 80,000 0 0
BANK OF AMERICA CORP COM 060505104 861 26,000 SH DFND 26,000 0 0
TE CONNECTIVITY LTD SHS H84989104 804 7,000 SH DFND 7,000 0 0
MARTIN MARIETTA MATERIALS COM 573284106 676 2,000 SH DFND 2,000 0 0
INOGEN INC COM 45780L104 788 40,000 SH DFND 40,000 0 0
TARGET CORP COM 87612E106 522 3,500 SH DFND 3,500 0 0
ANI PHARMACEUTICALS INC COM 00182C103 925 23,000 SH DFND 23,000 0 0
LANTHEUS HOLDINGS INC COM 516544103 1,121 22,000 SH DFND 22,000 0 0
SCHWAB (CHARLES) CORP COM 808513105 2,498 30,000 SH DFND 30,000 0 0
CAMECO CORP COM 13321L108 499 22,000 SH DFND 22,000 0 0
MARSH & MCLENNAN COS COM 571748102 2,813 17,000 SH DFND 17,000 0 0
SUPERNUS PHARMACEUTICALS INC COM 868459108 1,534 43,000 SH DFND 43,000 0 0
NASDAQ INC COM 631103108 1,350 22,000 SH DFND 22,000 0 0
PAYPAL HOLDINGS INC COM 70450Y103 1,246 17,500 SH DFND 17,500 0 0
MORGAN STANLEY COM NEW 617446448 85 1,000 SH DFND 1,000 0 0
PHILIP MORRIS INTERNATIONAL COM 718172109 2,227 22,000 SH DFND 22,000 0 0
CONAGRA BRANDS INC COL 205887102 890 23,000 SH DFND 23,000 0 0
CISCO SYSTEMS INC COM 17275R102 4,764 100,000 SH DFND 100,000 0 0
MCDONALD'S CORP COM 580135101 2,372 9,000 SH DFND 9,000 0 0
PROCTER & GAMBLE CO/THE COM 742718109 2,501 16,500 SH DFND 16,500 0 0
AUTOZONE INC COM 053332102 2,466 1,000 SH DFND 1,000 0 0
CORTEVA INC COM 22052L104 1,352 23,000 SH DFND 23,000 0 0
VANGUARD S&P SMALL-CAP 600 E SMLLCP 600 IDX 921932828 2,773 16,000 SH DFND 16,000 0 0