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
Technology Select Sector SPDR Fund ETP 81369Y803 32,051 126,567 SH DFND 126,567 0 0
iShares MSCI ACWI ETF ETP 464288257 29,806 231,772 SH DFND 231,772 0 0
Communication Services Select Sector SPDR Fund ETP 81369Y852 19,717 181,676 SH DFND 181,676 0 0
Health Care Select Sector SPDR Fund ETP 81369Y209 18,610 138,069 SH DFND 138,069 0 0
Financial Select Sector SPDR Fund ETP 81369Y605 16,582 316,634 SH DFND 316,634 0 0
Vanguard Financials ETF ETP 92204A405 16,305 128,081 SH DFND 128,081 0 0
SPDR S&P 500 ETF Trust ETP 78462F103 14,966 24,171 SH DFND 24,171 0 0
iShares MSCI Emerging Markets ex China ETF ETP 46434G764 13,557 214,717 SH DFND 214,717 0 0
Consumer Discretionary Select Sector SPDR Fund ETP 81369Y407 12,830 59,035 SH DFND 59,035 0 0
Consumer Staples Select Sector SPDR Fund ETP 81369Y308 10,461 129,192 SH DFND 129,192 0 0
NVIDIA Corp Common Stock 67066G104 9,910 62,725 SH DFND 62,725 0 0
WisdomTree Japan Hedged Equity Fund ETP 97717W851 9,722 85,078 SH DFND 85,078 0 0
Vanguard S&P 500 ETF ETP 922908363 9,677 17,035 SH DFND 17,035 0 0
Industrial Select Sector SPDR Fund ETP 81369Y704 9,273 62,858 SH DFND 62,858 0 0
Microsoft Corp Common Stock 594918104 8,536 17,160 SH DFND 17,160 0 0
iShares Core MSCI Emerging Markets ETF ETP 46434G103 8,116 135,200 SH DFND 135,200 0 0
Apple Inc Common Stock 037833100 8,075 39,358 SH DFND 39,358 0 0
Materials Select Sector SPDR Fund ETP 81369Y100 5,290 60,245 SH DFND 60,245 0 0
Amazon.com Inc Common Stock 023135106 5,221 23,798 SH DFND 23,798 0 0
VanEck Semiconductor ETF ETP 92189F676 5,160 18,501 SH DFND 18,501 0 0
SPDR Dow Jones Industrial Average ETF Trust ETP 78467X109 4,641 10,511 SH DFND 10,511 0 0
Fidelity Nasdaq Composite Index ETF ETP 315912808 4,627 57,760 SH DFND 57,760 0 0
iShares Core S&P 500 ETF ETP 464287200 4,533 7,301 SH DFND 7,301 0 0
Utilities Select Sector SPDR Fund ETP 81369Y886 4,386 53,705 SH DFND 53,705 0 0
iShares Global Energy ETF ETP 464287341 4,223 107,474 SH DFND 107,474 0 0
Invesco QQQ Trust Series 1 ETP 46090E103 4,216 7,636 SH DFND 7,636 0 0
Real Estate Select Sector SPDR Fund ETP 81369Y860 4,198 101,345 SH DFND 101,345 0 0
Vanguard High Dividend Yield ETF ETP 921946406 3,974 29,808 SH DFND 29,808 0 0
Alphabet Inc Common Stock 02079K305 3,797 21,545 SH DFND 21,545 0 0
VanEck Morningstar Wide Moat ETF ETP 92189F643 3,765 40,145 SH DFND 40,145 0 0
Vanguard Information Technology ETF ETP 92204A702 2,816 4,246 SH DFND 4,246 0 0
iShares U.S. Technology ETF ETP 464287721 2,812 16,230 SH DFND 16,230 0 0
Energy Select Sector SPDR Fund ETP 81369Y506 2,790 32,897 SH DFND 32,897 0 0
First Trust NASDAQ Technology Dividend Index Fund ETP 33738R118 2,758 30,589 SH DFND 30,589 0 0
iShares U.S. Aerospace & Defense ETF ETP 464288760 2,727 14,456 SH DFND 14,456 0 0
First Trust NASDAQ-100 Technology Index Fund ETP 337345102 2,630 12,356 SH DFND 12,356 0 0
Invesco S&P 500 High Beta ETF ETP 46138E370 2,538 26,021 SH DFND 26,021 0 0
JPMorgan US Quality Factor ETF ETP 46641Q761 2,388 39,764 SH DFND 39,764 0 0
Vanguard S&P 500 Growth ETF ETP 921932505 2,193 5,531 SH DFND 5,531 0 0
Snowflake Inc Common Stock 833445109 2,187 9,772 SH DFND 9,772 0 0
iShares U.S. Medical Devices ETF ETP 464288810 1,804 28,799 SH DFND 28,799 0 0
Mobileye Global Inc Common Stock 60741F104 1,529 85,057 SH DFND 85,057 0 0
iShares Russell 2000 ETF ETP 464287655 1,467 6,798 SH DFND 6,798 0 0
Bank of America Corp Common Stock 060505104 1,420 30,009 SH DFND 30,009 0 0
iShares Expanded Tech Sector ETF ETP 464287549 1,329 11,826 SH DFND 11,826 0 0
First Trust Dow Jones Internet Index Fund ETP 33733E302 1,281 4,758 SH DFND 4,758 0 0
SPDR Portfolio S&P 500 Growth ETF ETP 78464A409 1,155 12,122 SH DFND 12,122 0 0
Invesco S&P MidCap Quality ETF ETP 46137V472 990 10,080 SH DFND 10,080 0 0
Invesco S&P SmallCap 600 Pure Value ETF ETP 46137V167 736 7,023 SH DFND 7,023 0 0
Invesco Exchange-Traded Fund Trust - Invesco S&P 500 Pure Value ETF ETP 46137V258 684 7,293 SH DFND 7,293 0 0
Uber Technologies Inc Common Stock 90353T100 567 6,072 SH DFND 6,072 0 0
Vanguard Health Care ETF ETP 92204A504 463 1,863 SH DFND 1,863 0 0
Global X Cybersecurity ETF ETP 37954Y384 377 10,169 SH DFND 10,169 0 0
iShares Expanded Tech-Software Sector ETF ETP 464287515 266 2,425 SH DFND 2,425 0 0
Invesco S&P Emerging Markets Low Volatility ETF ETP 46138E297 236 9,047 SH DFND 9,047 0 0
WisdomTree Europe Hedged Equity Fund ETP 97717X701 51 1,060 SH DFND 1,060 0 0
Vanguard FTSE Emerging Markets ETF ETP 922042858 15 300 SH DFND 300 0 0