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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
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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
CAPITAL SOUTHWEST CORP NOTE 5.125%11/1 140501AE7 1,665,720 1,680,000 PRN SOLE 1,680,000 0 0
CLIPPER RLTY INC COM 18885T306 881,406 231,949 SH SOLE 231,949 0 0
GE HEALTHCARE TECHNOLOGIES I COMMON STOCK 36266G107 234,687 3,125 SH SOLE 3,125 0 0
INVESCO QQQ TR UNIT SER 1 46090E103 5,747,808 9,600 SH SOLE 9,600 0 0
ISHARES BITCOIN TRUST ETF SHS BEN INT 46438F101 2,275,000 35,000 SH SOLE 35,000 0 0
ISHARES TR CORE US AGGBD ET 464287226 9,880,640 98,560 SH SOLE 98,560 0 0
ISHARES TR CORE S&P500 ETF 464287200 100,595,790 150,300 SH SOLE 150,300 0 0
ISHARES TR ISHS 1-5YR INVS 464288646 19,504,434 367,800 SH SOLE 367,800 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 5,371,512 22,200 SH SOLE 22,200 0 0
LEMONADE INC COM 52567D107 3,032,153 56,644 SH SOLE 56,644 0 0
NEW MTN FIN CORP NOTE 7.500%10/1 647551AE0 1,509,508 1,508,000 PRN SOLE 1,508,000 0 0
SPDR SERIES TRUST PORTFOLIO AGRGTE 78464A649 6,478,010 250,600 SH SOLE 250,600 0 0
SPDR SERIES TRUST PORTFOLIO INTRMD 78464A375 9,163,856 270,400 SH SOLE 270,400 0 0
VANGUARD INDEX FDS LARGE CAP ETF 922908637 14,099,988 45,800 SH SOLE 45,800 0 0
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 120,271,432 196,400 SH SOLE 196,400 0 0