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
ALPHABET INC-CL A COM 02079K305 3,172 18,000 SH DFND 18,000 0 0
AMAZON.COM INC COM 023135106 4,914 22,400 SH DFND 22,400 0 0
APPLE INC COM 037833100 4,103 20,000 SH DFND 20,000 0 0
ATMOS ENERGY CORP COM 049560105 1,541 10,000 SH DFND 10,000 0 0
BOYD GAMING CORP COM 103304101 939 12,000 SH DFND 12,000 0 0
CVS HEALTH CORP COM 126650100 1,449 21,000 SH DFND 21,000 0 0
CACI INTERNATIONAL INC -CL A CL A 127190304 953 2,000 SH DFND 2,000 0 0
WALT DISNEY CO/THE COM 254687106 1,240 10,000 SH DFND 10,000 0 0
EASTGROUP PROPERTIES INC COM 277276101 1,337 8,000 SH DFND 8,000 0 0
EXLSERVICE HOLDINGS INC COM 302081104 1,182 27,000 SH DFND 27,000 0 0
EXXON MOBIL CORP COM 30231G102 2,372 22,000 SH DFND 22,000 0 0
FEDERAL SIGNAL CORP COM 313855108 1,171 11,000 SH DFND 11,000 0 0
GLOBUS MEDICAL INC - A CL A 379577208 649 11,000 SH DFND 11,000 0 0
HORACE MANN EDUCATORS COM 440327104 1,633 38,000 SH DFND 38,000 0 0
INTUIT INC COM 461202103 4,568 5,800 SH DFND 5,800 0 0
INTUITIVE SURGICAL INC COM NEW 46120E602 978 1,800 SH DFND 1,800 0 0
ISHARES MSCI KOKUSAI ETF MSCI KOKUSAI ETF 464288265 19,412 154,100 SH DFND 154,100 0 0
ISHARES CORE US REIT ETF CRE U S REIT ETF 464288521 322 5,700 SH DFND 5,700 0 0
J & J SNACK FOODS CORP COM 466032109 454 4,000 SH DFND 4,000 0 0
LAMB WESTON HOLDINGS INC COM 513272104 674 13,000 SH DFND 13,000 0 0
MARZETTI COMPANY/THE COM 513847103 1,088 6,300 SH DFND 6,300 0 0
NEXTERA ENERGY INC COM 65339F101 486 7,000 SH DFND 7,000 0 0
SAFETY INSURANCE GROUP INC COM 78648T100 992 12,500 SH DFND 12,500 0 0
SALESFORCE INC COM 79466L302 1,909 7,000 SH DFND 7,000 0 0
HEALTH CARE SELECT SECTOR SBI HEALTHCARE 81369Y209 404 3,000 SH DFND 3,000 0 0
CONSUMER STAPLES SPDR SBI CONS STPLS 81369Y308 3,862 47,700 SH DFND 47,700 0 0
TECHNOLOGY SELECT SECT SPDR TECHNOLOGY 81369Y803 2,026 8,000 SH DFND 8,000 0 0
SERVICE CORP INTERNATIONAL COM 817565104 1,709 21,000 SH DFND 21,000 0 0
WEBSTER FINANCIAL CORP COM 947890109 983 18,000 SH DFND 18,000 0 0
META PLATFORMS INC-CLASS A CL A 30303M102 6,348 8,600 SH DFND 8,600 0 0
UNITEDHEALTH GROUP INC COM 91324P102 1,185 3,800 SH DFND 3,800 0 0
ESSENTIAL UTILITIES INC COM 29670G102 74 2,000 SH DFND 2,000 0 0
MICROSOFT CORP COM 594918104 6,417 12,900 SH DFND 12,900 0 0
ITRON INC COM 465741106 1,580 12,000 SH DFND 12,000 0 0
MASIMO CORP COM 574795100 1,346 8,000 SH DFND 8,000 0 0
OTIS WORLDWIDE CORP COM 68902V107 297 3,000 SH DFND 3,000 0 0
JPMORGAN CHASE & CO COM 46625H100 5,508 19,000 SH DFND 19,000 0 0
CHART INDUSTRIES INC COM 16115Q308 1,564 9,500 SH DFND 9,500 0 0
BOOT BARN HOLDINGS INC COM 099406100 456 3,000 SH DFND 3,000 0 0
OFG BANCORP COM 67103X102 1,241 29,000 SH DFND 29,000 0 0
CAVCO INDUSTRIES INC COM 149568107 217 500 SH DFND 500 0 0
HEALTHCARE SERVICES GROUP COM 421906108 511 34,000 SH DFND 34,000 0 0
INDUSTRIAL SELECT SECT SPDR INDL 81369Y704 885 6,000 SH DFND 6,000 0 0
LIVANOVA PLC SHS G5509L101 113 2,500 SH DFND 2,500 0 0
MERCK & CO. INC. COM 58933Y105 633 8,000 SH DFND 8,000 0 0
EVERTEC INC COM 30040P103 1,442 40,000 SH DFND 40,000 0 0
RTX CORP COM 75513E101 2,117 14,500 SH DFND 14,500 0 0
COSTCO WHOLESALE CORP COM 22160K105 99 100 SH DFND 100 0 0
ISHARES CORE S&P SMALL-CAP E CORE S&P SCP ETF 464287804 4,481 41,000 SH DFND 41,000 0 0
SCHLUMBERGER LTD COM 806857108 439 13,000 SH DFND 13,000 0 0
INTERFACE INC COM 458665304 209 10,000 SH DFND 10,000 0 0
ANI PHARMACEUTICALS INC COM 00182C103 326 5,000 SH DFND 5,000 0 0
LANTHEUS HOLDINGS INC COM 516544103 25 300 SH DFND 300 0 0
SCHWAB (CHARLES) CORP COM 808513105 1,734 19,000 SH DFND 19,000 0 0
CAMECO CORP COM 13321L108 520 7,000 SH DFND 7,000 0 0
MARSH & MCLENNAN COS COM 571748102 547 2,500 SH DFND 2,500 0 0
BURLINGTON STORES INC COM 122017106 349 1,500 SH DFND 1,500 0 0
VANGUARD REAL ESTATE ETF REAL ESTATE ETF 922908553 1,425 16,000 SH DFND 16,000 0 0
MOSAIC CO/THE COM 61945C103 912 25,000 SH DFND 25,000 0 0
PHILIP MORRIS INTERNATIONAL COM 718172109 182 1,000 SH DFND 1,000 0 0
PROCTER & GAMBLE CO/THE COM 742718109 510 3,200 SH DFND 3,200 0 0
AUTOZONE INC COM 053332102 1,485 400 SH DFND 400 0 0
OLLIE'S BARGAIN OUTLET HOLDI COM 681116109 1,120 8,500 SH DFND 8,500 0 0
INGEVITY CORP COM 45688C107 689 16,000 SH DFND 16,000 0 0
GILEAD SCIENCES INC COM 375558103 2,883 26,000 SH DFND 26,000 0 0
TESLA INC COM 88160R101 2,192 6,900 SH DFND 6,900 0 0
VANGUARD S&P SMALL-CAP 600 E SMLLCP 600 IDX 921932828 9,698 95,800 SH DFND 95,800 0 0
BADGER METER INC COM 056525108 1,225 5,000 SH DFND 5,000 0 0
STERIS PLC SHS USD G8473T100 721 3,000 SH DFND 3,000 0 0
NVIDIA CORP COM 67066G104 7,900 50,000 SH DFND 50,000 0 0
MICRON TECHNOLOGY INC COM 595112103 123 1,000 SH DFND 1,000 0 0
SPS COMMERCE INC COM 78463M107 272 2,000 SH DFND 2,000 0 0
QUEST DIAGNOSTICS INC COM 74834L100 1,257 7,000 SH DFND 7,000 0 0
SPDR PORTFOLIO S&P 600 SMALL PORTFOLIO S&P600 78468R853 6,074 142,585 SH DFND 142,585 0 0
CHUBB LTD COM H1467J104 2,028 7,000 SH DFND 7,000 0 0
FREEPORT-MCMORAN INC CL B 35671D857 520 12,000 SH DFND 12,000 0 0
ELI LILLY & CO COM 532457108 1,559 2,000 SH DFND 2,000 0 0
SERVICENOW INC COM 81762P102 2,673 2,600 SH DFND 2,600 0 0
EQT CORP COM 26884L109 1,750 30,000 SH DFND 30,000 0 0
BROADCOM INC COM 11135F101 3,859 14,000 SH DFND 14,000 0 0
NUCOR CORP COM 670346105 1,036 8,000 SH DFND 8,000 0 0
BERKSHIRE HATHAWAY INC-CL A CL A 084670108 2,915 4 SH DFND 4 0 0
VISA INC-CLASS A SHARES VISA INC 92826C839 1,953 5,500 SH DFND 5,500 0 0
SPROUTS FARMERS MARKET INC COM 85208M102 280 1,700 SH DFND 1,700 0 0
WALMART INC COM 931142103 293 3,000 SH DFND 3,000 0 0
GENERAL ELECTRIC COM NEW 369604301 1,030 4,000 SH DFND 4,000 0 0
3M CO COM 88579Y101 1,218 8,000 SH DFND 8,000 0 0
FIRST BANCORP PUERTO RICO COM NEW 318672706 604 29,000 SH DFND 29,000 0 0
AMERICAN TOWER CORP COM 03027X100 884 4,000 SH DFND 4,000 0 0
COCA-COLA CO/THE COM 191216100 566 8,000 SH DFND 8,000 0 0
MONDELEZ INTERNATIONAL INC-A CL A 609207105 405 6,000 SH DFND 6,000 0 0
CROWDSTRIKE HOLDINGS INC - A CL A 22788C105 968 1,900 SH DFND 1,900 0 0
CHENIERE ENERGY INC COM NEW 16411R208 974 4,000 SH DFND 4,000 0 0
CONSTELLATION ENERGY COM 21037T109 484 1,500 SH DFND 1,500 0 0
MAGNOLIA OIL & GAS CORP - A CL A 559663109 1,529 68,000 SH DFND 68,000 0 0
BOEING CO/THE COM 097023105 1,571 7,500 SH DFND 7,500 0 0
VISTRA CORP COM 92840M102 1,085 5,600 SH DFND 5,600 0 0
GE VERNOVA INC COM 36828A101 529 1,000 SH DFND 1,000 0 0
ARISTA NETWORKS INC COM SHS 040413205 1,023 10,000 SH DFND 10,000 0 0
EATON CORP PLC SHS G29183103 2,285 6,400 SH DFND 6,400 0 0
UTILITIES SELECT SECTOR SPDR SBI INT-UTILS 81369Y886 1,878 23,000 SH DFND 23,000 0 0
CHOICE HOTELS INTL INC COM 169905106 381 3,000 SH DFND 3,000 0 0
SNOWFLAKE INC CL A 833445109 2,573 11,500 SH DFND 11,500 0 0
BLACKROCK INC COM 09290D101 1,154 1,100 SH DFND 1,100 0 0
TJX COMPANIES INC COM 872540109 2,593 21,000 SH DFND 21,000 0 0
TAIWAN SEMICONDUCTOR-SP ADR SPONSORED ADS 874039100 2,152 9,500 SH DFND 9,500 0 0
HUNTINGTON INGALLS INDUSTRIE COM 446413106 724 3,000 SH DFND 3,000 0 0
VANECK GOLD MINERS ETF GOLD MINERS ETF 92189F106 677 13,000 SH DFND 13,000 0 0