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
3M CO COM 88579Y101 2,474 15,000 SH   DFND 2,3,6 15,000 0 0
AGILENT TECHNOLOGIES INC COM 00846U101 1,247 30,000 SH   DFND 2,3,6 30,000 0 0
AIR PRODS & CHEMS INC COM 009158106 35,400 234,000 SH   DFND 2,3,6 234,000 0 0
AIR PRODS & CHEMS INC COM 009158106 9,379 62,000 SH   DFND 3,4,6 62,000 0 0
AIR PRODS & CHEMS INC COM 009158106 492 3,250 SH   DFND 3,6 3,250 0 0
AIR PRODS & CHEMS INC COM 009158106 68,681 454,000 SH   DFND 5,6 454,000 0 0
AMERICAN EXPRESS CO COM 025816109 2,734 35,000 SH   DFND 2,3,6 35,000 0 0
APPLE INC COM 037833100 37,373 300,354 SH   DFND 2,3,6 300,354 0 0
APPLE INC COM 037833100 9,199 73,928 SH   DFND 3,4,6 73,928 0 0
APPLE INC COM 037833100 622 5,000 SH   DFND 3,6 5,000 0 0
APPLE INC COM 037833100 102,277 821,968 SH   DFND 5,6 821,968 0 0
ARCH COAL INC COM 039380100 9,999 10,000,000 SH   DFND 3,6 10,000,000 0 0
ARES CAP CORP COM 04010L103 3,072 178,907 SH   DFND 3,6 178,907 0 0
ARES COML REAL ESTATE CORP COM 04013V108 1,383 125,115 SH   DFND 3,6 125,115 0 0
ARES DYNAMIC CR ALLOCATION F COM 04014F102 144 8,865 SH   DFND 3,6 8,865 0 0
AUTODESK INC COM 052769106 1,466 25,000 SH   DFND 2,3,6 25,000 0 0
AUTOMATIC DATA PROCESSING IN COM 053015103 2,569 30,000 SH   DFND 2,3,6 30,000 0 0
BERKSHIRE HATHAWAY INC DEL CL B 084670702 2,886 20,000 SH   DFND 2,3,6 20,000 0 0
BOEING CO COM 097023105 42,771 284,990 SH   DFND 2,3,6 284,990 0 0
BOEING CO COM 097023105 10,932 72,838 SH   DFND 3,4,6 72,838 0 0
BOEING CO COM 097023105 570 3,800 SH   DFND 3,6 3,800 0 0
BOEING CO COM 097023105 77,042 513,342 SH   DFND 5,6 513,342 0 0
CDK GLOBAL INC COM 12508E101 468 10,000 SH   DFND 2,3,6 10,000 0 0
CHUBB CORP COM 171232101 31,503 311,602 SH   DFND 2,3,6 311,602 0 0
CHUBB CORP COM 171232101 7,552 74,698 SH   DFND 3,4,6 74,698 0 0
CHUBB CORP COM 171232101 354 3,500 SH   DFND 3,6 3,500 0 0
CHUBB CORP COM 171232101 54,968 543,700 SH   DFND 5,6 543,700 0 0
COCA COLA CO COM 191216100 2,433 60,000 SH   DFND 2,3,6 60,000 0 0
COLGATE PALMOLIVE CO COM 194162103 21,795 314,316 SH   DFND 2,3,6 314,316 0 0
COLGATE PALMOLIVE CO COM 194162103 5,793 83,545 SH   DFND 3,4,6 83,545 0 0
COLGATE PALMOLIVE CO COM 194162103 312 4,500 SH   DFND 3,6 4,500 0 0
COLGATE PALMOLIVE CO COM 194162103 41,752 602,139 SH   DFND 5,6 602,139 0 0
CONOCOPHILLIPS COM 20825C104 1,868 30,000 SH   DFND 2,3,6 30,000 0 0
COSTCO WHSL CORP NEW COM 22160K105 3,030 20,000 SH   DFND 2,3,6 20,000 0 0
CSX CORP COM 126408103 165,600 5,000,000 SH   DFND 3,6 5,000,000 0 0
CUMMINS INC COM 231021106 2,080 15,000 SH   DFND 2,3,6 15,000 0 0
DEERE & CO COM 244199105 2,631 30,000 SH   DFND 2,3,6 30,000 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 13,573 301,895 SH   DFND 0,6 301,895 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 44,875 998,105 SH   DFND 3,6 998,105 0 0
DISNEY WALT CO COM DISNEY 254687106 4,720 45,000 SH   DFND 2,3,6 45,000 0 0
EMERSON ELEC CO COM 291011104 2,265 40,000 SH   DFND 2,3,6 40,000 0 0
EXXON MOBIL CORP COM 30231G102 3,400 40,000 SH   DFND 2,3,6 40,000 0 0
FEDEX CORP COM 31428X106 2,482 15,000 SH   DFND 2,3,6 15,000 0 0
GOOGLE INC CL A 38259P508 44,237 79,749 SH   DFND 0,6 79,749 0 0
GOOGLE INC CL A 38259P508 11,847 21,357 SH   DFND 2,3,6 21,357 0 0
GOOGLE INC CL C 38259P706 1,918 3,500 SH   DFND 2,3,6 3,500 0 0
GOOGLE INC CL A 38259P508 1,336 2,408 SH   DFND 3,6 2,408 0 0
GOOGLE INC CL A 38259P508 18,852 33,986 SH   DFND 5,6 33,986 0 0
HERSHEY CO COM 427866108 22,952 227,454 SH   DFND 2,3,6 227,454 0 0
HERSHEY CO COM 427866108 6,086 60,313 SH   DFND 3,4,6 60,313 0 0
HERSHEY CO COM 427866108 329 3,263 SH   DFND 3,6 3,263 0 0
HERSHEY CO COM 427866108 41,269 408,970 SH   DFND 5,6 408,970 0 0
HOME DEPOT INC COM 437076102 3,976 35,000 SH   DFND 2,3,6 35,000 0 0
INTEL CORP COM 458140100 2,658 85,000 SH   DFND 2,3,6 85,000 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 1,926 12,000 SH   DFND 2,3,6 12,000 0 0
JOHNSON AND JOHNSON COM 478160104 3,018 30,000 SH   DFND 2,3,6 30,000 0 0
JPMORGAN CHASE & CO COM 46625H100 27,261 450,000 SH   DFND 0,6 450,000 0 0
JPMORGAN CHASE & CO COM 46625H100 56,059 925,370 SH   DFND 2,3,6 925,370 0 0
JPMORGAN CHASE & CO COM 46625H100 9,087 150,000 SH   DFND 3,6 150,000 0 0
JPMORGAN CHASE & CO COM 46625H100 104,478 1,724,630 SH   DFND 5,6 1,724,630 0 0
KELLOGG CO COM 487836108 2,308 35,000 SH   DFND 2,3,6 35,000 0 0
KEYSIGHT TECHNOLOGIES INC COM 49338L103 557 15,000 SH   DFND 2,3,6 15,000 0 0
LAS VEGAS SANDS CORP COM 517834107 23,766 431,797 SH   DFND 2,3,6 431,797 0 0
LAS VEGAS SANDS CORP COM 517834107 5,895 107,105 SH   DFND 3,4,6 107,105 0 0
LAS VEGAS SANDS CORP COM 517834107 385 7,000 SH   DFND 3,6 7,000 0 0
LAS VEGAS SANDS CORP COM 517834107 40,790 741,098 SH   DFND 5,6 741,098 0 0
LAUDER ESTEE COS INC CL A 518439104 2,079 25,000 SH   DFND 2,3,6 25,000 0 0
LILLY ELI & CO COM 532457108 3,633 50,000 SH   DFND 2,3,6 50,000 0 0
MCKESSON CORP COM 58155Q103 10,943 48,376 SH   DFND 2,3,6 48,376 0 0
MCKESSON CORP COM 58155Q103 2,961 13,089 SH   DFND 3,4,6 13,089 0 0
MCKESSON CORP COM 58155Q103 181 800 SH   DFND 3,6 800 0 0
MCKESSON CORP COM 58155Q103 20,185 89,235 SH   DFND 5,6 89,235 0 0
MICROSOFT CORP COM 594918104 3,456 85,000 SH   DFND 2,3,6 85,000 0 0
NOBLE ENERGY INC COM 655044105 17,668 361,315 SH   DFND 2,3,6 361,315 0 0
NOBLE ENERGY INC COM 655044105 4,188 85,648 SH   DFND 3,4,6 85,648 0 0
NOBLE ENERGY INC COM 655044105 318 6,501 SH   DFND 3,6 6,501 0 0
NOBLE ENERGY INC COM 655044105 28,682 586,536 SH   DFND 5,6 586,536 0 0
NORDSTROM INC COM 655664100 2,410 30,000 SH   DFND 2,3,6 30,000 0 0
NOVARTIS AG SPONSORED ADR 66987V109 2,465 25,000 SH   DFND 2,3,6 25,000 0 0
OLD REP INTL CORP COM 680223104 44,820 3,000,000 SH   DFND 3,6 3,000,000 0 0
ORACLE CORP COM 68389X105 2,589 60,000 SH   DFND 2,3,6 60,000 0 0
PACCAR INC COM 693718108 1,894 30,000 SH   DFND 2,3,6 30,000 0 0
PHILIP MORRIS INTL INC COM 718172109 2,637 35,000 SH   DFND 2,3,6 35,000 0 0
PROCTER & GAMBLE CO COM 742718109 2,458 30,000 SH   DFND 2,3,6 30,000 0 0
ROPER INDS INC NEW COM 776696106 37,157 216,031 SH   DFND 2,3,6 216,031 0 0
ROPER INDS INC NEW COM 776696106 8,105 47,122 SH   DFND 3,4,6 47,122 0 0
ROPER INDS INC NEW COM 776696106 465 2,706 SH   DFND 3,6 2,706 0 0
ROPER INDS INC NEW COM 776696106 70,372 409,141 SH   DFND 5,6 409,141 0 0
SAP AG SPON ADR 803054204 3,609 50,000 SH   DFND 2,3,6 50,000 0 0
SCHLUMBERGER LTD COM 806857108 3,338 40,000 SH   DFND 2,3,6 40,000 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 21,141 291,598 SH   DFND 2,3,6 291,598 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 12,598 173,765 SH   DFND 3,4,6 173,765 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 643 8,872 SH   DFND 3,6 8,872 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 38,118 525,765 SH   DFND 5,6 525,765 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 177,975 862,158 SH   DFND 2,3,6 862,158 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 46,937 227,374 SH   DFND 3,4,6 227,374 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 2,581 12,502 SH   DFND 3,6 12,502 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 317,792 1,539,466 SH   DFND 5,6 1,539,466 0 0
SYSCO CORP COM 871829107 2,830 75,000 SH   DFND 2,3,6 75,000 0 0
UNITED CONTL HLDGS INC COM 910047109 30,568 454,545 SH   DFND 0,6 454,545 0 0
UNITED CONTL HLDGS INC COM 910047109 36,682 545,455 SH   DFND 3,6 545,455 0 0
US BANCORP DEL COM NEW 902973304 2,620 60,000 SH   DFND 2,3,6 60,000 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 28,204 142,000 SH   DFND 0,6 142,000 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 3,019 15,200 SH   DFND 2,3,6 15,200 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 1,708 8,600 SH   DFND 3,6 8,600 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 6,793 34,200 SH   DFND 5,6 34,200 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 19,452 400,000 SH   DFND 0,6 400,000 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 23,072 474,445 SH   DFND 2,3,6 474,445 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 4,991 102,632 SH   DFND 3,4,6 102,632 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 427 8,778 SH   DFND 3,6 8,778 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 49,318 1,014,145 SH   DFND 5,6 1,014,145 0 0
VISA INC COM CL A 92826C839 98,900 1,512,000 SH   DFND 2,3,6 1,512,000 0 0
VISA INC COM CL A 92826C839 27,995 428,000 SH   DFND 3,4,6 428,000 0 0
VISA INC COM CL A 92826C839 785 12,000 SH   DFND 3,6 12,000 0 0
VISA INC COM CL A 92826C839 91,574 1,400,000 SH   DFND 5,6 1,400,000 0 0
WAL MART STORES INC COM 931142103 2,879 35,000 SH   DFND 2,3,6 35,000 0 0
WELLS FARGO & CO NEW COM 949746101 28,289 520,010 SH   DFND 2,3,6 520,010 0 0
WELLS FARGO & CO NEW COM 949746101 6,840 125,730 SH   DFND 3,4,6 125,730 0 0
WELLS FARGO & CO NEW COM 949746101 354 6,500 SH   DFND 3,6 6,500 0 0
WELLS FARGO & CO NEW COM 949746101 49,192 904,260 SH   DFND 5,6 904,260 0 0
WILLIAMS COS INC DEL COM 969457100 20,904 413,210 SH   DFND 2,3,6 413,210 0 0
WILLIAMS COS INC DEL COM 969457100 101,180 2,000,000 SH   DFND 3,6 2,000,000 0 0
WILLIAMS COS INC DEL COM 969457100 37,274 736,790 SH   DFND 5,6 736,790 0 0