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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
OMB APPROVAL
OMB Number: 3235-0006
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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ESSENT GROUP LTD COM G3198U102   101,198,893 1,666,374 SH   DFND 1,2 1,666,374 0 0
ISHARES TR HIGH YLD SYSTM B 46435G250   240,115,542 5,057,726 SH   DFND 3 5,057,726 0 0
ISHARES TR MBS ETF 464288588   268,096,417 2,855,431 SH   DFND 3 2,855,431 0 0
TRUPANION INC COM 898202106   14,557,050 263,000 SH   DFND 1,2 263,000 0 0
UNIVERSAL INS HLDGS INC COM 91359V107   16,187,970 583,771 SH   DFND 1,2 583,771 0 0