The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it 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 |
| 3m Co | COM | 88579Y101 | 6,454,500 | 50,000 | SH | DFND | 1,2 | 50,000 | 0 | 0 | |
| Abbott Laboratories | COM | 002824100 | 3,845,740 | 34,000 | SH | DFND | 1,2 | 34,000 | 0 | 0 | |
| Abbvie Inc | COM | 00287Y109 | 3,554,000 | 20,000 | SH | DFND | 1,2 | 20,000 | 0 | 0 | |
| Adobe Inc | COM | 00724F101 | 6,670,200 | 15,000 | SH | DFND | 1,2 | 15,000 | 0 | 0 | |
| Advanced Micro Devices Inc | COM | 007903107 | 3,382,120 | 28,000 | SH | DFND | 1,2 | 28,000 | 0 | 0 | |
| Air Products And Chemicals Inc | COM | 009158106 | 2,465,340 | 8,500 | SH | DFND | 1,2 | 8,500 | 0 | 0 | |
| Alibaba Group Holding Ltd | ADR | 01609W102 | 6,359,250 | 75,000 | SH | DFND | 1,2 | 75,000 | 0 | 0 | |
| Alphabet Inc-A | COM | 02079K305 | 37,292,100 | 197,000 | SH | DFND | 1,2 | 197,000 | 0 | 0 | |
| Alphabet Inc-C | COM | 02079K107 | 3,618,360 | 19,000 | SH | DFND | 1,2 | 19,000 | 0 | 0 | |
| Amazon.com Inc | COM | 023135106 | 5,045,970 | 23,000 | SH | DFND | 1,2 | 23,000 | 0 | 0 | |
| American International Group Inc | COM | 026874784 | 1,456,000 | 20,000 | SH | DFND | 1,2 | 20,000 | 0 | 0 | |
| American Tower Corp | COM | 03027X100 | 3,301,380 | 18,000 | SH | DFND | 1,2 | 18,000 | 0 | 0 | |
| American Water Works Co Inc | COM | 030420103 | 995,920 | 8,000 | SH | DFND | 1,2 | 8,000 | 0 | 0 | |
| Amgen Inc | COM | 031162100 | 1,042,560 | 4,000 | SH | DFND | 1,2 | 4,000 | 0 | 0 | |
| Anheuser-busch Inbev Sa/nv | ADR | 03524A108 | 5,257,350 | 105,000 | SH | DFND | 1,2 | 105,000 | 0 | 0 | |
| Apple Inc | COM | 037833100 | 2,754,620 | 11,000 | SH | DFND | 1,2 | 11,000 | 0 | 0 | |
| Applied Materials Inc | COM | 038222105 | 1,951,560 | 12,000 | SH | DFND | 1,2 | 12,000 | 0 | 0 | |
| At&t Inc | COM | 00206R102 | 15,825,150 | 695,000 | SH | DFND | 1,2 | 695,000 | 0 | 0 | |
| Baidu Inc | ADR | 056752108 | 927,410 | 11,000 | SH | DFND | 1,2 | 11,000 | 0 | 0 | |
| Bank Of America Corp | COM | 060505104 | 2,021,700 | 46,000 | SH | DFND | 1,2 | 46,000 | 0 | 0 | |
| Baxter International Inc | COM | 071813109 | 3,003,480 | 103,000 | SH | DFND | 1,2 | 103,000 | 0 | 0 | |
| Becton Dickinson & Co | COM | 075887109 | 3,629,920 | 16,000 | SH | DFND | 1,2 | 16,000 | 0 | 0 | |
| Berkshire Hathaway Inc | COM | 084670702 | 2,266,400 | 5,000 | SH | DFND | 1,2 | 5,000 | 0 | 0 | |
| Boeing Co/the | COM | 097023105 | 12,567,000 | 71,000 | SH | DFND | 1,2 | 71,000 | 0 | 0 | |
| Bristol-myers Squibb Co | COM | 110122108 | 2,318,960 | 41,000 | SH | DFND | 1 | 41,000 | 0 | 0 | |
| Brown-forman Corp | COM | 115637209 | 4,291,740 | 113,000 | SH | DFND | 1,2 | 113,000 | 0 | 0 | |
| Carnival Corp | COM | 143658300 | 3,115,000 | 125,000 | SH | DFND | 1,2 | 125,000 | 0 | 0 | |
| Coca-cola Co/the | COM | 191216100 | 5,790,180 | 93,000 | SH | DFND | 1,2 | 93,000 | 0 | 0 | |
| Comcast Corp | COM | 20030N101 | 8,378,648 | 223,252 | SH | DFND | 1,2 | 223,252 | 0 | 0 | |
| Conagra Brands Inc | COM | 205887102 | 4,828,500 | 174,000 | SH | DFND | 1,2 | 174,000 | 0 | 0 | |
| Constellation Brands Inc | COM | 21036P108 | 884,000 | 4,000 | SH | DFND | 1,2 | 4,000 | 0 | 0 | |
| Crown Castle Inc | COM | 22822V101 | 1,452,160 | 16,000 | SH | DFND | 1,2 | 16,000 | 0 | 0 | |
| Csx Corp | COM | 126408103 | 2,420,250 | 75,000 | SH | DFND | 1,2 | 75,000 | 0 | 0 | |
| Cvs Health Corp | COM | 126650100 | 8,573,990 | 191,000 | SH | DFND | 1,2 | 191,000 | 0 | 0 | |
| Danaher Corp | COM | 235851102 | 3,443,250 | 15,000 | SH | DFND | 1,2 | 15,000 | 0 | 0 | |
| Dollar General Corp | COM | 256677105 | 530,740 | 7,000 | SH | DFND | 1,2 | 7,000 | 0 | 0 | |
| Dominion Energy Inc | COM | 25746U109 | 2,154,400 | 40,000 | SH | DFND | 1 | 40,000 | 0 | 0 | |
| Eaton Corp Plc | COM | G29183103 | 995,610 | 3,000 | SH | DFND | 1,2 | 3,000 | 0 | 0 | |
| Edwards Lifesciences Corp | COM | 28176E108 | 1,110,450 | 15,000 | SH | DFND | 1,2 | 15,000 | 0 | 0 | |
| Elanco Animal Health Inc | COM | 28414H103 | 956,690 | 79,000 | SH | DFND | 1,2 | 79,000 | 0 | 0 | |
| Elevance Health Inc | COM | 036752103 | 4,426,800 | 12,000 | SH | DFND | 1,2 | 12,000 | 0 | 0 | |
| Eli Lilly & Co | COM | 532457108 | 6,948,000 | 9,000 | SH | DFND | 1,2 | 9,000 | 0 | 0 | |
| Estee Lauder Cos Inc/the | COM | 518439104 | 2,549,320 | 34,000 | SH | DFND | 1,2 | 34,000 | 0 | 0 | |
| Fedex Corp | COM | 31428X106 | 2,813,300 | 10,000 | SH | DFND | 1,2 | 10,000 | 0 | 0 | |
| Fidelity National Information Services Inc | COM | 31620M106 | 3,473,110 | 43,000 | SH | DFND | 1,2 | 43,000 | 0 | 0 | |
| Franklin Resources Inc | COM | 354613101 | 2,840,600 | 140,000 | SH | DFND | 2 | 140,000 | 0 | 0 | |
| Ge Healthcare Technologies Inc | COM | 36266G107 | 2,671,046 | 34,165 | SH | DFND | 1,2 | 34,165 | 0 | 0 | |
| General Dynamics Corp | COM | 369550108 | 1,580,940 | 6,000 | SH | DFND | 1,2 | 6,000 | 0 | 0 | |
| Genuine Parts Co | COM | 372460105 | 1,167,600 | 10,000 | SH | DFND | 1,2 | 10,000 | 0 | 0 | |
| Global Payments Inc | COM | 37940X102 | 4,034,160 | 36,000 | SH | DFND | 1,2 | 36,000 | 0 | 0 | |
| Hca Healthcare Inc | COM | 40412C101 | 900,450 | 3,000 | SH | DFND | 1,2 | 3,000 | 0 | 0 | |
| Home Depot Inc/the | COM | 437076102 | 1,166,970 | 3,000 | SH | DFND | 1,2 | 3,000 | 0 | 0 | |
| Honeywell International Inc | COM | 438516106 | 6,776,700 | 30,000 | SH | DFND | 1,2 | 30,000 | 0 | 0 | |
| Humana Inc | COM | 444859102 | 4,059,360 | 16,000 | SH | DFND | 1,2 | 16,000 | 0 | 0 | |
| Intel Corp | COM | 458140100 | 2,666,650 | 133,000 | SH | DFND | 1,2 | 133,000 | 0 | 0 | |
| Invesco S&p 500 Equal Weight Etf | ETF | 46137V357 | 169,973,100 | 970,000 | SH | DFND | 1,2 | 970,000 | 0 | 0 | |
| Ishares 20 Year Treasury Bond Etf | ETF | 464287432 | 76,239,090 | 873,000 | SH | DFND | 1 | 873,000 | 0 | 0 | |
| Ishares China Large-cap Etf | ETF | 464287184 | 24,534,640 | 806,000 | SH | DFND | 1 | 806,000 | 0 | 0 | |
| Ishares Core S&p Small-cap Etf | ETF | 464287804 | 67,749,360 | 588,000 | SH | DFND | 1,2 | 588,000 | 0 | 0 | |
| Jb Hunt Transport Services Inc | COM | 445658107 | 3,754,520 | 22,000 | SH | DFND | 1,2 | 22,000 | 0 | 0 | |
| Johnson & Johnson | COM | 478160104 | 15,040,480 | 104,000 | SH | DFND | 1,2 | 104,000 | 0 | 0 | |
| Kraft Heinz Co/the | COM | 500754106 | 4,023,010 | 131,000 | SH | DFND | 1,2 | 131,000 | 0 | 0 | |
| Linde Plc | COM | G54950103 | 837,340 | 2,000 | SH | DFND | 1,2 | 2,000 | 0 | 0 | |
| Lockheed Martin Corp | COM | 539830109 | 1,457,820 | 3,000 | SH | DFND | 1,2 | 3,000 | 0 | 0 | |
| Lowe's Cos Inc | COM | 548661107 | 987,200 | 4,000 | SH | DFND | 1,2 | 4,000 | 0 | 0 | |
| Medtronic Plc | COM | G5960L103 | 6,150,760 | 77,000 | SH | DFND | 1,2 | 77,000 | 0 | 0 | |
| Merck & Co Inc | COM | 58933Y105 | 9,649,560 | 97,000 | SH | DFND | 1,2 | 97,000 | 0 | 0 | |
| Meta Platforms Inc | COM | 30303M102 | 9,953,670 | 17,000 | SH | DFND | 1,2 | 17,000 | 0 | 0 | |
| Microchip Technology Inc | COM | 595017104 | 1,089,650 | 19,000 | SH | DFND | 1,2 | 19,000 | 0 | 0 | |
| Micron Technology Inc | COM | 595112103 | 1,683,200 | 20,000 | SH | DFND | 1,2 | 20,000 | 0 | 0 | |
| Microsoft Corp | COM | 594918104 | 30,769,500 | 73,000 | SH | DFND | 1,2 | 73,000 | 0 | 0 | |
| Mondelez International Inc | COM | 609207105 | 3,165,690 | 53,000 | SH | DFND | 1,2 | 53,000 | 0 | 0 | |
| Nike Inc | COM | 654106103 | 10,064,110 | 133,000 | SH | DFND | 1,2 | 133,000 | 0 | 0 | |
| Northrop Grumman Corp | COM | 666807102 | 938,580 | 2,000 | SH | DFND | 1,2 | 2,000 | 0 | 0 | |
| Nov Inc | COM | 62955J103 | 365,000 | 25,000 | SH | DFND | 1 | 25,000 | 0 | 0 | |
| Nvidia Corp | COM | 67066G104 | 10,206,040 | 76,000 | SH | DFND | 1,2 | 76,000 | 0 | 0 | |
| Paypal Holdings Inc | COM | 70450Y103 | 8,022,900 | 94,000 | SH | DFND | 1,2 | 94,000 | 0 | 0 | |
| Pepsico Inc | COM | 713448108 | 12,468,920 | 82,000 | SH | DFND | 1,2 | 82,000 | 0 | 0 | |
| Pfizer Inc | COM | 717081103 | 8,569,190 | 323,000 | SH | DFND | 1,2 | 323,000 | 0 | 0 | |
| Prologis Inc | COM | 74340W103 | 2,536,800 | 24,000 | SH | DFND | 1,2 | 24,000 | 0 | 0 | |
| Qualcomm Inc | COM | 747525103 | 2,304,300 | 15,000 | SH | DFND | 1,2 | 15,000 | 0 | 0 | |
| Schlumberger Nv | COM | 806857108 | 4,025,700 | 105,000 | SH | DFND | 1,2 | 105,000 | 0 | 0 | |
| Solventum Corp | COM | 83444M101 | 825,750 | 12,500 | SH | DFND | 1,2 | 12,500 | 0 | 0 | |
| Stanley Black & Decker Inc | COM | 854502101 | 963,480 | 12,000 | SH | DFND | 1,2 | 12,000 | 0 | 0 | |
| Target Corp | COM | 87612E106 | 2,973,960 | 22,000 | SH | DFND | 1,2 | 22,000 | 0 | 0 | |
| Thermo Fisher Scientific Inc | COM | 883556102 | 4,161,840 | 8,000 | SH | DFND | 1,2 | 8,000 | 0 | 0 | |
| Truist Financial Corp | COM | 89832Q109 | 1,214,640 | 28,000 | SH | DFND | 1,2 | 28,000 | 0 | 0 | |
| Uber Technologies Inc | COM | 90353T100 | 3,377,920 | 56,000 | SH | DFND | 1,2 | 56,000 | 0 | 0 | |
| Under Armour Inc | COM | 904311107 | 828,000 | 100,000 | SH | DFND | 1 | 100,000 | 0 | 0 | |
| Union Pacific Corp | COM | 907818108 | 1,596,280 | 7,000 | SH | DFND | 1,2 | 7,000 | 0 | 0 | |
| United Parcel Service Inc | COM | 911312106 | 7,566,000 | 60,000 | SH | DFND | 1,2 | 60,000 | 0 | 0 | |
| Unitedhealth Group Inc | COM | 91324P102 | 8,093,760 | 16,000 | SH | DFND | 1,2 | 16,000 | 0 | 0 | |
| Us Bancorp | COM | 902973304 | 3,874,230 | 81,000 | SH | DFND | 1,2 | 81,000 | 0 | 0 | |
| Vaneck Semiconductor Etf | ETF | 92189F676 | 5,085,570 | 21,000 | SH | DFND | 1,2 | 21,000 | 0 | 0 | |
| Vanguard Ftse Emerging Markets Etf | ETF | 922042858 | 20,698,800 | 470,000 | SH | DFND | 1 | 470,000 | 0 | 0 | |
| Verizon Communications Inc | COM | 92343V104 | 11,597,100 | 290,000 | SH | DFND | 1,2 | 290,000 | 0 | 0 | |
| Viatris Inc | COM | 92556V106 | 1,904,743 | 152,991 | SH | DFND | 1 | 152,991 | 0 | 0 | |
| Volkswagen Ag | ADR | 928662600 | 558,600 | 60,000 | SH | DFND | 1,2 | 60,000 | 0 | 0 | |
| Walgreens Boots Alliance Inc | COM | 931427108 | 1,026,300 | 110,000 | SH | DFND | 1,2 | 110,000 | 0 | 0 | |
| Walt Disney Co/the | COM | 254687106 | 8,017,200 | 72,000 | SH | DFND | 1 | 72,000 | 0 | 0 | |
| Warner Bros Discovery Inc | COM | 934423104 | 1,777,153 | 168,132 | SH | DFND | 1,2 | 168,132 | 0 | 0 | |
| Wells Fargo & Co | COM | 949746101 | 2,528,640 | 36,000 | SH | DFND | 1,2 | 36,000 | 0 | 0 | |
| Workday Inc | COM | 98138H101 | 3,612,420 | 14,000 | SH | DFND | 1,2 | 14,000 | 0 | 0 | |
| Zimmer Biomet Holdings Inc | COM | 98956P102 | 1,478,820 | 14,000 | SH | DFND | 1,2 | 14,000 | 0 | 0 | |
| Zoetis Inc | COM | 98978V103 | 1,792,230 | 11,000 | SH | DFND | 1,2 | 11,000 | 0 | 0 | |
| Better Home & Finance Holding Company | COM | 08774B102 | 1,165,434 | 130,654 | SH | DFND | 130,654 | 0 | 0 | ||
| Alignment Healthcare Inc | COM | 01625V104 | 1,702,148 | 151,302 | SH | DFND | 151,302 | 0 | 0 | ||
