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
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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 177,395 170,000 PRN SOLE 170,000 0 0
CIRCLE INTERNET GROUP INC COM CL A 172573107 1,628,004 25,994 SH SOLE 25,994 0 0
CLIPPER RLTY INC COM 18885T306 630,901 231,949 SH SOLE 231,949 0 0
GE HEALTHCARE TECHNOLOGIES I COMMON STOCK 36266G107 200,031 3,125 SH SOLE 3,125 0 0
INVESCO QQQ TR UNIT SER 1 46090E103 7,069,440 9,600 SH SOLE 9,600 0 0
ISHARES BITCOIN TRUST ETF SHS BEN INT 46438F101 2,946,165 88,500 SH SOLE 88,500 0 0
ISHARES TR CORE S&P500 ETF 464287200 118,324,620 158,000 SH SOLE 158,000 0 0
ISHARES TR CORE US AGGBD ET 464287226 9,755,469 98,560 SH SOLE 98,560 0 0
ISHARES TR ISHS 1-5YR INVS 464288646 19,276,398 367,800 SH SOLE 367,800 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 6,669,990 22,200 SH SOLE 22,200 0 0
LEMONADE INC COM 52567D107 3,684,692 56,644 SH SOLE 56,644 0 0
SPDR SERIES TRUST ST INTER BD ETF 78464A375 9,047,584 270,400 SH SOLE 270,400 0 0
SPDR SERIES TRUST ST STR AGGRE ETF 78464A649 6,395,312 250,600 SH SOLE 250,600 0 0
VANGUARD INDEX FDS LARGE CAP ETF 922908637 15,751,078 45,800 SH SOLE 45,800 0 0
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 134,889,484 196,400 SH SOLE 196,400 0 0