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
Abbott Laboratories COM 002824100 4,633 100,000 SH   DFND 2 100,000 0 0
Abbvie Inc COM 00287Y109 8,898 152,000 SH   DFND 1,2 152,000 0 0
Actavis Plc COM G0083B108 1,488 5,000 SH   DFND 2 5,000 0 0
Adobe Systems Inc COM 00724F101 2,588 35,000 SH   DFND 1 35,000 0 0
Affiliated Managers Group Inc COM 008252108 3,866 18,000 SH   DFND 1 18,000 0 0
Aflac Inc COM 001055102 5,441 85,000 SH   DFND 1 85,000 0 0
Agilent Technologies Inc COM 00846U101 1,870 45,000 SH   DFND 1 45,000 0 0
Alibaba Group Holding Ltd ADR 01609W102 2,497 30,000 SH   DFND 1 30,000 0 0
Altria Group Inc COM 02209S103 2,501 50,000 SH   DFND 2 50,000 0 0
Amazon.com Inc COM 023135106 14,884 40,000 SH   DFND 1 40,000 0 0
American Express Co COM 025816109 10,156 130,000 SH   DFND 2 130,000 0 0
American International Group Inc COM 026874784 7,123 130,000 SH   DFND 2 130,000 0 0
American Tower Corp REIT 03027X100 1,412 15,000 SH   DFND 2 15,000 0 0
Amgen Inc COM 031162100 3,517 22,000 SH   DFND 2 22,000 0 0
Anadarko Petroleum Corp COM 032511107 3,726 45,000 SH   DFND 1 45,000 0 0
Apache Corp COM 037411105 3,017 50,000 SH   DFND 1 50,000 0 0
Apple Inc COM 037833100 7,466 60,000 SH   DFND 2 60,000 0 0
At&t Inc COM 00206R102 12,244 375,000 SH   DFND 1,2 375,000 0 0
Baidu Inc ADR 056752108 2,501 12,000 SH   DFND 2 12,000 0 0
Bank Of America Corp COM 060505104 10,080 655,000 SH   DFND 1,2 655,000 0 0
Baxter International Inc COM 071813109 2,740 40,000 SH   DFND 2 40,000 0 0
Becton Dickinson And Co COM 075887109 1,005 7,000 SH   DFND 2 7,000 0 0
Bp Plc ADR 055622104 5,475 140,000 SH   DFND 1 140,000 0 0
Brown-forman Corp COM 115637209 1,807 20,000 SH   DFND 2 20,000 0 0
California Resources Corp COM 13057Q107 213 28,000 SH   DFND 1,2 28,000 0 0
Capital One Financial Corp COM 14040H105 3,547 45,000 SH   DFND 2 45,000 0 0
Cbs Corp COM 124857202 4,244 70,000 SH   DFND 2 70,000 0 0
Chevron Corp COM 166764100 10,498 100,000 SH   DFND 2 100,000 0 0
Chicago Bridge & Iron Co Nv COM 167250109 3,202 65,000 SH   DFND 1 65,000 0 0
Cisco Systems Inc COM 17275R102 7,432 270,000 SH   DFND 1,2 270,000 0 0
Citigroup Inc COM 172967424 10,046 195,000 SH   DFND 2 195,000 0 0
Coach Inc COM 189754104 4,972 120,000 SH   DFND 1 120,000 0 0
Coca-cola Co/the COM 191216100 15,206 375,000 SH   DFND 2 375,000 0 0
Colgate-palmolive Co COM 194162103 5,547 80,000 SH   DFND 2 80,000 0 0
Comcast Corp COM 20030N101 1,412 25,000 SH   DFND 2 25,000 0 0
Conocophillips COM 20825C104 11,518 185,000 SH   DFND 1,2 185,000 0 0
Crown Castle International Corp REIT 22822V101 537 6,500 SH   DFND 1 6,500 0 0
Csx Corp COM 126408103 1,490 45,000 SH   DFND 2 45,000 0 0
Danaher Corp COM 235851102 5,519 65,000 SH   DFND 2 65,000 0 0
Devon Energy Corp COM 25179M103 2,714 45,000 SH   DFND 1 45,000 0 0
Discover Financial Services COM 254709108 2,818 50,000 SH   DFND 2 50,000 0 0
Discovery Communications Inc COM 25470F104 2,461 80,000 SH   DFND 2 80,000 0 0
Dow Chemical Co/the COM 260543103 4,558 95,000 SH   DFND 1,2 95,000 0 0
Eaton Corp Plc COM G29183103 5,571 82,000 SH   DFND 1 82,000 0 0
Ecolab Inc COM 278865100 4,003 35,000 SH   DFND 2 35,000 0 0
Emc Corp/ma COM 268648102 2,173 85,000 SH   DFND 1 85,000 0 0
Emerson Electric Co COM 291011104 7,644 135,000 SH   DFND 1 135,000 0 0
Eog Resources Inc COM 26875P101 4,585 50,000 SH   DFND 1 50,000 0 0
Expeditors International Of Washington Inc COM 302130109 2,409 50,000 SH   DFND 1 50,000 0 0
Express Scripts Holding Co COM 30219G108 2,603 30,000 SH   DFND 2 30,000 0 0
Exxon Mobil Corp COM 30231G102 23,800 280,000 SH   DFND 1,2 280,000 0 0
Facebook Inc COM 30303M102 5,344 65,000 SH   DFND 1 65,000 0 0
Fastenal Co COM 311900104 4,143 100,000 SH   DFND 2 100,000 0 0
Fedex Corp COM 31428X106 2,482 15,000 SH   DFND 2 15,000 0 0
Ford Motor Co COM 345370860 2,582 160,000 SH   DFND 1 160,000 0 0
Franklin Resources Inc COM 354613101 2,823 55,000 SH   DFND 2 55,000 0 0
Freeport-mcmoran Inc COM 35671D857 7,769 410,000 SH   DFND 1,2 410,000 0 0
General Electric Co COM 369604103 19,848 800,000 SH   DFND 1,2 800,000 0 0
General Mills Inc COM 370334104 4,528 80,000 SH   DFND 1,2 80,000 0 0
General Motors Co COM 37045V100 9,187 245,000 SH   DFND 1 245,000 0 0
Gilead Sciences Inc COM 375558103 8,832 90,000 SH   DFND 1 90,000 0 0
Goldman Sachs Group Inc/the COM 38141G104 5,639 30,000 SH   DFND 1 30,000 0 0
Google COM 38259P706 2,740 5,000 SH   DFND 2 5,000 0 0
Google Inc COM 38259P508 11,094 20,000 SH   DFND 1 20,000 0 0
Halliburton Co COM 406216101 3,510 80,000 SH   DFND 1 80,000 0 0
Honeywell International Inc COM 438516106 8,084 77,500 SH   DFND 1 77,500 0 0
Intel Corp COM 458140100 7,661 245,000 SH   DFND 1,2 245,000 0 0
International Business Machines Corp COM 459200101 7,383 46,000 SH   DFND 2 46,000 0 0
Invesco Ltd COM G491BT108 1,588 40,000 SH   DFND 2 40,000 0 0
Ishares Iboxx $ High Yield Corporate Bond Etf ETF 464288513 36,244 400,000 SH   DFND 1 400,000 0 0
Ishares Iboxx $ Investment Grade Corporate Bond Etf ETF 464287242 24,951 205,000 SH   DFND 1 205,000 0 0
Ishares National Amt-free Muni Bond Etf ETF 464288414 50,323 455,000 SH   DFND 1 455,000 0 0
Ishares Tips Bond Etf ETF 464287176 50,548 445,000 SH   DFND 1 445,000 0 0
Johnson & Johnson COM 478160104 15,090 150,000 SH   DFND 1,2 150,000 0 0
Jpmorgan Chase & Co COM 46625H100 15,751 260,000 SH   DFND 1,2 260,000 0 0
Kimberly-clark Corp COM 494368103 2,678 25,000 SH   DFND 1 25,000 0 0
KKR & CO LP COM 48248M102 5,702 250,000 SH   DFND 1 250,000 0 0
Kraft Foods Group Inc COM 50076Q106 6,969 80,000 SH   DFND 1,2 80,000 0 0
Las Vegas Sands Corp COM 517834107 2,477 45,000 SH   DFND 1 45,000 0 0
Linear Technology Corp COM 535678106 3,744 80,000 SH   DFND 1 80,000 0 0
Mastercard Inc COM 57636Q104 2,160 25,000 SH   DFND 2 25,000 0 0
Mcdonald's Corp COM 580135101 5,359 55,000 SH   DFND 2 55,000 0 0
Medtronic Plc COM 585055106 2,730 35,000 SH   DFND 2 35,000 0 0
Merck & Co Inc COM 58933Y105 14,945 260,000 SH   DFND 1,2 260,000 0 0
Metlife Inc COM 59156R108 6,319 125,000 SH   DFND 1 125,000 0 0
Michael Kors Holdings Ltd COM G60754101 3,287 50,000 SH   DFND 1 50,000 0 0
Microsoft Corp COM 594918104 18,701 460,000 SH   DFND 1,2 460,000 0 0
Mondelez International Inc COM 609207105 3,068 85,000 SH   DFND 2 85,000 0 0
Monsanto Co COM 61166W101 3,939 35,000 SH   DFND 2 35,000 0 0
Morgan Stanley COM 617446448 3,569 100,000 SH   DFND 2 100,000 0 0
National Oilwell Varco Inc COM 637071101 1,250 25,000 SH   DFND 1 25,000 0 0
Noble Corp COM G65431101 2,499 175,000 SH   DFND 1 175,000 0 0
Occidental Petroleum Corp COM 674599105 5,110 70,000 SH   DFND 1,2 70,000 0 0
Oracle Corp COM 68389X105 10,356 240,000 SH   DFND 2 240,000 0 0
Pepsico Inc COM 713448108 12,431 130,000 SH   DFND 2 130,000 0 0
PFIZER INC COM 717081103 11,307 325,000 SH   DFND 1,2 325,000 0 0
Philip Morris International Inc COM 718172109 17,703 235,000 SH   DFND 1,2 235,000 0 0
Praxair Inc COM 74005P104 3,018 25,000 SH   DFND 1 25,000 0 0
Precision Castparts Corp COM 740189105 5,250 25,000 SH   DFND 2 25,000 0 0
Priceline Group Inc/the COM 741503403 3,492 3,000 SH   DFND 1 3,000 0 0
Procter & Gamble Co/the COM 742718109 17,207 210,000 SH   DFND 1,2 210,000 0 0
Prudential Financial Inc COM 744320102 10,842 135,000 SH   DFND 1,2 135,000 0 0
Qualcomm Inc COM 747525103 9,708 140,000 SH   DFND 1,2 140,000 0 0
Ralph Lauren Corp COM 751212101 1,972 15,000 SH   DFND 1 15,000 0 0
Range Resources Corp COM 75281A109 2,602 50,000 SH   DFND 1 50,000 0 0
Sandisk Corp COM 80004C101 2,227 35,000 SH   DFND 1 35,000 0 0
Schlumberger Ltd COM 806857108 5,006 60,000 SH   DFND 1 60,000 0 0
Southwestern Energy Co COM 845467109 2,203 95,000 SH   DFND 1 95,000 0 0
Spdr S&p 500 Etf Trust ETF 78462F103 10,321 50,000 SH   DFND 2 50,000 0 0
Spdr S&p Oil & Gas Exploration & Production Etf ETF 78464A730 3,616 70,000 SH   DFND 2 70,000 0 0
State Street Corp COM 857477103 1,471 20,000 SH   DFND 2 20,000 0 0
Sysco Corp COM 871829107 2,452 65,000 SH   DFND 2 65,000 0 0
Thermo Fisher Scientific Inc COM 883556102 6,045 45,000 SH   DFND 2 45,000 0 0
Tiffany & Co COM 886547108 3,960 45,000 SH   DFND 1 45,000 0 0
Twenty-first Century Fox Inc COM 90130A101 4,907 145,000 SH   DFND 1 145,000 0 0
Union Pacific Corp COM 907818108 3,791 35,000 SH   DFND 2 35,000 0 0
United Parcel Service Inc COM 911312106 2,908 30,000 SH   DFND 2 30,000 0 0
United Technologies Corp COM 913017109 14,650 125,000 SH   DFND 1,2 125,000 0 0
Us Bancorp/mn COM 902973304 3,494 80,000 SH   DFND 2 80,000 0 0
Utilities Select Sector Spdr Fund ETF 81369Y886 33,322 750,000 SH   DFND 1,2 750,000 0 0
Vanguard Ftse Europe Etf ETF 922042874 25,483 470,000 SH   DFND 1 470,000 0 0
Verizon Communications Inc COM 92343V104 12,644 260,000 SH   DFND 1,2 260,000 0 0
Vmware Inc COM 928563402 1,476 18,000 SH   DFND 2 18,000 0 0
Wal-mart Stores Inc COM 931142103 10,281 125,000 SH   DFND 2 125,000 0 0
Wells Fargo & Co COM 949746101 14,416 265,000 SH   DFND 1,2 265,000 0 0
Ww Grainger Inc COM 384802104 2,594 11,000 SH   DFND 2 11,000 0 0
Wynn Resorts Ltd COM 983134107 6,923 55,000 SH   DFND 1 55,000 0 0
Xilinx Inc COM 983919101 3,595 85,000 SH   DFND 1 85,000 0 0
Yahoo! Inc COM 984332106 2,666 60,000 SH   DFND 2 60,000 0 0
Yum! Brands Inc COM 988498101 3,149 40,000 SH   DFND 1 40,000 0 0
Zimmer Holdings Inc COM 98956P102 2,938 25,000 SH   DFND 2 25,000 0 0