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 28,094 120,824 SH DFND 120,824 0 0
iShares MSCI ACWI ETF ETP 464288257 25,817 219,717 SH DFND 219,717 0 0
Health Care Select Sector SPDR Fund ETP 81369Y209 19,086 138,734 SH DFND 138,734 0 0
Communication Services Select Sector SPDR Fund ETP 81369Y852 17,573 181,525 SH DFND 181,525 0 0
Financial Select Sector SPDR Fund ETP 81369Y605 14,831 306,869 SH DFND 306,869 0 0
SPDR S&P 500 ETF Trust ETP 78462F103 13,563 23,085 SH DFND 23,085 0 0
Consumer Discretionary Select Sector SPDR Fund ETP 81369Y407 12,600 56,163 SH DFND 56,163 0 0
Consumer Staples Select Sector SPDR Fund ETP 81369Y308 10,085 128,287 SH DFND 128,287 0 0
Apple Inc Common Stock 037833100 9,801 39,137 SH DFND 39,137 0 0
Vanguard Financials ETF ETP 92204A405 9,524 80,662 SH DFND 80,662 0 0
Vanguard S&P 500 ETF ETP 922908363 9,262 17,190 SH DFND 17,190 0 0
WisdomTree Japan Hedged Equity Fund ETP 97717W851 9,079 82,322 SH DFND 82,322 0 0
iShares MSCI Emerging Markets ex China ETF ETP 46434G764 9,055 163,309 SH DFND 163,309 0 0
Industrial Select Sector SPDR Fund ETP 81369Y704 8,370 63,523 SH DFND 63,523 0 0
NVIDIA Corp Common Stock 67066G104 7,004 52,156 SH DFND 52,156 0 0
iShares Core MSCI Emerging Markets ETF ETP 46434G103 6,964 133,355 SH DFND 133,355 0 0
Microsoft Corp Common Stock 594918104 6,908 16,390 SH DFND 16,390 0 0
iShares Core S&P 500 ETF ETP 464287200 5,844 9,928 SH DFND 9,928 0 0
Real Estate Select Sector SPDR Fund ETP 81369Y860 5,515 135,604 SH DFND 135,604 0 0
iShares Global Financials ETF ETP 464287333 5,407 56,290 SH DFND 56,290 0 0
SPDR Dow Jones Industrial Average ETF Trust ETP 78467X109 5,334 12,510 SH DFND 12,510 0 0
Materials Select Sector SPDR Fund ETP 81369Y100 5,069 60,245 SH DFND 60,245 0 0
VanEck Morningstar Wide Moat ETF ETP 92189F643 4,957 53,454 SH DFND 53,454 0 0
VanEck Semiconductor ETF ETP 92189F676 4,480 18,501 SH DFND 18,501 0 0
Fidelity Nasdaq Composite Index ETF ETP 315912808 4,393 57,760 SH DFND 57,760 0 0
iShares Global Energy ETF ETP 464287341 4,103 107,474 SH DFND 107,474 0 0
Invesco QQQ Trust Series 1 ETP 46090E103 3,844 7,518 SH DFND 7,518 0 0
Vanguard High Dividend Yield ETF ETP 921946406 3,770 29,545 SH DFND 29,545 0 0
Utilities Select Sector SPDR Fund ETP 81369Y886 3,645 48,153 SH DFND 48,153 0 0
Energy Select Sector SPDR Fund ETP 81369Y506 3,325 38,819 SH DFND 38,819 0 0
Amazon.com Inc Common Stock 023135106 3,075 14,014 SH DFND 14,014 0 0
Snowflake Inc Common Stock 833445109 3,019 19,552 SH DFND 19,552 0 0
Alphabet Inc Common Stock 02079K305 2,817 14,879 SH DFND 14,879 0 0
Vanguard Information Technology ETF ETP 92204A702 2,640 4,246 SH DFND 4,246 0 0
iShares U.S. Technology ETF ETP 464287721 2,589 16,230 SH DFND 16,230 0 0
First Trust NASDAQ Technology Dividend Index Fund ETP 33738R118 2,400 30,589 SH DFND 30,589 0 0
Micron Technology Inc Common Stock 595112103 2,349 27,882 SH DFND 27,882 0 0
First Trust NASDAQ-100 Technology Index Fund ETP 337345102 2,326 12,356 SH DFND 12,356 0 0
Invesco S&P 500 High Beta ETF ETP 46138E370 2,307 26,021 SH DFND 26,021 0 0
JPMorgan US Quality Factor ETF ETP 46641Q761 2,277 39,764 SH DFND 39,764 0 0
iShares U.S. Aerospace & Defense ETF ETP 464288760 2,101 14,456 SH DFND 14,456 0 0
iShares Russell 2000 ETF ETP 464287655 2,030 9,188 SH DFND 9,188 0 0
Vanguard S&P 500 Growth ETF ETP 921932505 2,025 5,531 SH DFND 5,531 0 0
Uber Technologies Inc Common Stock 90353T100 1,707 28,304 SH DFND 28,304 0 0
Mobileye Global Inc Common Stock 60741F104 1,694 85,057 SH DFND 85,057 0 0
iShares Global Healthcare ETF ETP 464287325 1,585 18,437 SH DFND 18,437 0 0
iShares Expanded Tech Sector ETF ETP 464287549 1,207 11,826 SH DFND 11,826 0 0
First Trust Dow Jones Internet Index Fund ETP 33733E302 1,157 4,758 SH DFND 4,758 0 0
Bank of America Corp Common Stock 060505104 1,122 25,519 SH DFND 25,519 0 0
SPDR Portfolio S&P 500 Growth ETF ETP 78464A409 1,066 12,122 SH DFND 12,122 0 0
Sunrun Inc Common Stock 86771W105 806 87,091 SH DFND 87,091 0 0
Invesco S&P SmallCap 600 Pure Value ETF ETP 46137V167 782 7,023 SH DFND 7,023 0 0
American Tower Corp REIT 03027X100 677 3,668 SH DFND 3,668 0 0
Invesco Exchange-Traded Fund Trust - Invesco S&P 500 Pure Value ETF ETP 46137V258 658 7,293 SH DFND 7,293 0 0
iShares MSCI Taiwan ETF ETP 46434G772 557 10,752 SH DFND 10,752 0 0
Vanguard Health Care ETF ETP 92204A504 473 1,863 SH DFND 1,863 0 0
Invesco S&P MidCap Quality ETF ETP 46137V472 367 3,730 SH DFND 3,730 0 0
Global X Cybersecurity ETF ETP 37954Y384 327 10,169 SH DFND 10,169 0 0
iShares Expanded Tech-Software Sector ETF ETP 464287515 243 2,425 SH DFND 2,425 0 0
Invesco S&P Emerging Markets Low Volatility ETF ETP 46138E297 81 3,447 SH DFND 3,447 0 0
WisdomTree Europe Hedged Equity Fund ETP 97717X701 46 1,060 SH DFND 1,060 0 0
Vanguard FTSE Emerging Markets ETF ETP 922042858 13 300 SH DFND 300 0 0