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
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
GAP, INC. COM 364760108 129,387 3,389,284 SH   DFND 1 0 3,389,284 0
ISHARES BARCLAYS 1-3 YR CR 1-3 YR CR BD ETF 464288646 1,232 11,700 SH   DFND 2 0 0 11,700
ISHARES BARCLAYS 3-7 YR TREAS BD 3-7 YR TR BD ETF 464288661 1,223 9,950 SH   DFND 2 0 0 9,950
ISHARES BARCLAYS INTER CREDIT BD INTERM CR BD ETF 464288638 1,034 9,500 SH   DFND 2 0 0 9,500
ISHARES BARCLAYS INTER GVT/CR BD INTRM GOV/CR ETF 464288612 2,245 20,300 SH   DFND 2 0 0 20,300
VANGUARD INTL EQUITY INDEX F ALLWRLD EX US 922042775 36,176 745,135 SH   DFND 2 0 0 745,135
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858 8,274 202,390 SH   DFND 2 0 0 202,390
ISHARES MSCI EMG MKT ETF 464287234 3,476 87,739 SH   DFND 2 0 0 87,739
ISHARES MSCI ACWI ETF 464288257 460 7,730 SH   DFND 2 0 0 7,730
GOLDMAN SACHS GROUP, INC.(THE) CMN (GS) GS 38141G104 522 2,500 SH   DFND 2 0 0 2,500
LIBERTY GLOBAL, PLC. CMN CLASS C LBTYK G5480U120 308 6,075 SH   DFND 2 0 0 6,075
ISHARES RUSSELL 3000 ETF S&P 100 ETF 464287689 5,576 42,003 SH   DFND 2 0 0 42,003
VANGUARD HIGH DIVIDEND YIELD ETF HIGH DIV YLD 921946406 3,043 45,228 SH   DFND 2 0 0 45,228