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
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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
ABBOTT LABS COM NPV COMMON STOCK 002824100 1,026 25,500 SH   SOLE 0 25,500 0 0
ABBVIE INC COMMON STOCK 00287Y109 2,503 46,000 SH   SOLE 0 46,000 0 0
AERCAP HOLDINGS NV COMMON STOCK N00985106 1,107 28,960 SH   SOLE 0 28,960 0 0
ALEXANDRIA REAL ESTATE COMMON STOCK 015271109 1,016 12,000 SH   SOLE 0 12,000 0 0
AMERICAN ASSETS TRUST INC USD0.01 COMMON STOCK 024013104 30,854 755,124 SH   SOLE 0 755,124 0 0
AMERICAN CAMPUS COMMUNITIES COMMON STOCK 024835100 435 12,000 SH   SOLE 0 12,000 0 0
AMERICAN ELECTRIC POWER CO INC COM STK USD6.50 COMMON STOCK 025537101 2,843 50,000 SH   SOLE 0 50,000 0 0
AMERICAN INTERNATIONAL GROUP INC COMMON STOCK 026874784 6,612 116,370 SH   SOLE 0 116,370 0 0
ANADARKO PETROLEUM CORP COMMON STOCK 032511107 1,783 29,520 SH   SOLE 0 29,520 0 0
ANNALY CAPITAL MANAGEMENT INC COMMON STOCK 035710409 1,276 129,290 SH   SOLE 0 129,290 0 0
APOLLO EDUCATION GROUP INC COMMON STOCK 037604105 387 35,000 SH   SOLE 0 35,000 0 0
APPLE INC COM STK NPV COMMON STOCK 037833100 5,791 52,500 SH   SOLE 0 52,500 0 0
AT&T INC USD1 COMMON STOCK 00206R102 1,303 40,000 SH   SOLE 0 40,000 0 0
AVALONBAY COMMUNITIES INC USD0.01 COMMON STOCK 053484101 909 5,200 SH   SOLE 0 5,200 0 0
BAKER HUGHES INC COM STK USD1 COMMON STOCK 057224107 2,862 55,000 SH   SOLE 0 55,000 0 0
BANCO SANTANDER SA ADR EACH 1 REPR 1 ORD EUR0.50 COMMON STOCK 05964H105 705 133,536 SH   SOLE 0 133,536 0 0
BANK OF AMERICA CORP COM STK USD0.01 COMMON STOCK 060505104 2,515 161,430 SH   SOLE 0 161,430 0 0
BANK OF MONTREAL COM STK CAD COMMON STOCK 063671101 1,364 25,000 SH   SOLE 0 25,000 0 0
BANK OF NEW YORK MELLON CORP COMMON STOCK 064058100 560 14,300 SH   SOLE 0 14,300 0 0
BANK OF NOVA SCOTIA COMMON STOCK 064149107 1,763 40,000 SH   SOLE 0 40,000 0 0
BAXALTA INC COMMON STOCK 07177M103 2,338 74,200 SH   SOLE 0 74,200 0 0
BAXTER INTERNATIONAL INC COM STK USD1 COMMON STOCK 071813109 2,437 74,200 SH   SOLE 0 74,200 0 0
BECTON DICKINSON & CO USD1 COMMON STOCK 075887109 663 5,000 SH   SOLE 0 5,000 0 0
BP AMOCO P.L.C ADR-EACH CNV INTO 6 ORD USD0.25 COMMON STOCK 055622104 6,442 210,810 SH   SOLE 0 210,810 0 0
BRISTOL-MYERS SQUIBB CO COM STK USD0.10 COMMON STOCK 110122108 2,960 50,000 SH   SOLE 0 50,000 0 0
BUCKEYE PARTNERS LP UNITS OF LTD PARTNERSHIP COMMON STOCK 118230101 652 11,000 SH   SOLE 0 11,000 0 0
CADIZ INC NEW COMMON STOCK 127537207 73 10,000 SH   SOLE 0 10,000 0 0
CAPITAL ONE FINANCIAL CORP COM STK USD0.01 COMMON STOCK 14040H105 1,523 21,000 SH   SOLE 0 21,000 0 0
CARDINAL HEALTH INC COM STK NPV COMMON STOCK 14149Y108 1,558 20,277 SH   SOLE 0 20,277 0 0
CARNIVAL CORP COM STK USD0.01(PAIRED STOCK) COMMON STOCK 143658300 746 15,000 SH   SOLE 0 15,000 0 0
CHEVRON CORP COM STK USD0.75 COMMON STOCK 166764100 4,983 63,170 SH   SOLE 0 63,170 0 0
CHICAGO BRIDGE & IRON CO NV COMMON STOCK 167250109 633 15,950 SH   SOLE 0 15,950 0 0
CITIGROUP INC USD0.01 COMMON STOCK 172967424 2,084 42,000 SH   SOLE 0 42,000 0 0
COCA-COLA CO COM STK USD0.25 COMMON STOCK 191216100 2,247 56,000 SH   SOLE 0 56,000 0 0
CORESITE REALTY CORP USD0.01 COMMON STOCK 21870Q105 1,543 30,000 SH   SOLE 0 30,000 0 0
CORNING INC COMMON STOCK 219350105 342 20,000 SH   SOLE 0 20,000 0 0
CYRUSONE INC REIT USD 0.01 COMMON STOCK 23283R100 2,221 68,000 SH   SOLE 0 68,000 0 0
DEERE & CO. COMMON STOCK 244199105 851 11,500 SH   SOLE 0 11,500 0 0
DEUTSCHE BANK AG COMMON STOCK D18190898 3,574 132,577 SH   SOLE 0 132,577 0 0
DIGITAL REALTY TRUST INC USD0.01 COMMON STOCK 253868103 271 4,150 SH   SOLE 0 4,150 0 0
DOW CHEMICAL CO COMMON STOCK 260543103 2,118 49,945 SH   SOLE 0 49,945 0 0
DUKE ENERGY CORP COM STK NPV COMMON STOCK 26441C204 1,199 16,666 SH   SOLE 0 16,666 0 0
EBAY INC COMMON STOCK 278642103 1,211 49,545 SH   SOLE 0 49,545 0 0
EI DU PONT DE NEMOURS & CO COMMON STOCK 263534109 482 10,000 SH   SOLE 0 10,000 0 0
EMC CORP - MASS COMMON STOCK 268648102 2,827 117,000 SH   SOLE 0 117,000 0 0
ENBRIDGE ENERGY PARTNERS LP COMMON STOCK 29250R106 544 22,000 SH   SOLE 0 22,000 0 0
ENCANA CORP COMMON STOCK CAD COMMON STOCK 292505104 193 30,000 SH   SOLE 0 30,000 0 0
EOG RESOURCES INC USD0.01 COMMON STOCK 26875P101 204 2,800 SH   SOLE 0 2,800 0 0
EQUITY RESIDENTIAL PROPERTIES TRUST COMMON STOCK 29476L107 901 12,000 SH   SOLE 0 12,000 0 0
EXPRESS SCRIPTS HLDG CO USD0.01 COMMON STOCK 30219G108 729 9,000 SH   SOLE 0 9,000 0 0
EXXON MOBIL CORP COM STK NPV COMMON STOCK 30231G102 2,520 33,900 SH   SOLE 0 33,900 0 0
FORD MOTOR CO USD 0.01 COMMON STOCK 345370860 2,867 211,300 SH   SOLE 0 211,300 0 0
FREEPORT-MCMORAN COPPER & GOLD INC COM STK USD0.10 COMMON STOCK 35671D857 727 75,000 SH   SOLE 0 75,000 0 0
GAMESTOP CORP CLASS A COMMON STOCK 36467W109 1,375 33,360 SH   SOLE 0 33,360 0 0
GENERAL ELECTRIC CO. COM STK USD0.06 COMMON STOCK 369604103 10,088 400,000 SH   SOLE 0 400,000 0 0
GENERAL MILLS INC COMMON STOCK 370334104 1,123 20,000 SH   SOLE 0 20,000 0 0
GENERAL MOTORS CO USD 0.01 COMMON STOCK 37045V100 6,356 211,720 SH   SOLE 0 211,720 0 0
GLAXOSMITHKLINE PLC ADR USD COMMON STOCK 37733W105 385 10,000 SH   SOLE 0 10,000 0 0
GOLDMAN SACHS GROUP INC COM STK USD0.01 COMMON STOCK 38141G104 2,181 12,550 SH   SOLE 0 12,550 0 0
GOOGLE INC CL A COMMON STOCK 38259P508 1,021 1,600 SH   SOLE 0 1,600 0 0
GOOGLE INC CL C COMMON STOCK 38259P706 976 1,604 SH   SOLE 0 1,604 0 0
HALCON RESOURCES CORP COMMON STOCK 40537Q209 22 41,209 SH   SOLE 0 41,209 0 0
HALLIBURTON CO COM STK USD2.50 COMMON STOCK 406216101 2,788 78,870 SH   SOLE 0 78,870 0 0
HARTFORD FINANCIAL SERVICES GRP INC COM STK COMMON STOCK 416515104 3,668 80,119 SH   SOLE 0 80,119 0 0
HEWLETT-PACKARD CO COM STK USD0.01 COMMON STOCK 428236103 3,252 127,000 SH   SOLE 0 127,000 0 0
HOST HOTELS & RESORTS INC USD0.01 COMMON STOCK 44107P104 711 45,000 SH   SOLE 0 45,000 0 0
INTERNATIONAL BUSINESS MACHINES CORP COMMON STOCK 459200101 1,160 8,000 SH   SOLE 0 8,000 0 0
ITC HOLDINGS CORP COMMON STOCK 465685105 1,341 40,210 SH   SOLE 0 40,210 0 0
ILLINOIS TOOL WORKS INC COMMON STOCK 452308109 1,668 20,260 SH   SOLE 0 20,260 0 0
JOHNSON & JOHNSON COM STK USD1 COMMON STOCK 478160104 5,164 55,320 SH   SOLE 0 55,320 0 0
JPMORGAN CHASE & CO COM STK USD1 COMMON STOCK 46625H100 9,666 158,540 SH   SOLE 0 158,540 0 0
KINDER MORGAN INC DELAWARE USD0.01 COMMON STOCK 49456B101 1,215 43,902 SH   SOLE 0 43,902 0 0
LAS VEGAS SANDS CORP COMMON STOCK 517834107 759 20,000 SH   SOLE 0 20,000 0 0
MACERICH CO COM STK USD0.01 COMMON STOCK 554382101 756 9,842 SH   SOLE 0 9,842 0 0
MALLINCKRODT PLC COMMON STOCK USD 0.2 COMMON STOCK G5785G107 256 4,000 SH   SOLE 0 4,000 0 0
MARKWEST ENERGY PARTNERS LP COMMON STOCK 570759100 215 5,000 SH   SOLE 0 5,000 0 0
MEDTRONIC PLC COMMON STOCK G5960L103 6,115 91,352 SH   SOLE 0 91,352 0 0
MERCK & CO INC(NEW) COM STK USD0.50 COMMON STOCK 58933Y105 3,709 75,100 SH   SOLE 0 75,100 0 0
METLIFE INC COM STK USD0.01 COMMON STOCK 59156R108 2,089 44,304 SH   SOLE 0 44,304 0 0
MICROSOFT CORP COM STK USD0.00000625 COMMON STOCK 594918104 6,265 141,550 SH   SOLE 0 141,550 0 0
MORGAN STANLEY COM STK USD0.01 COMMON STOCK 617446448 945 30,000 SH   SOLE 0 30,000 0 0
MOSAIC CO COMMON STOCK 61945C103 535 17,200 SH   SOLE 0 17,200 0 0
NEWMONT MINING CORP COMMON STOCK 651639106 964 60,000 SH   SOLE 0 60,000 0 0
NOVARTIS AG ADR EACH REPR 1 CHF0.50(REGD) COMMON STOCK 66987V109 4,758 51,760 SH   SOLE 0 51,760 0 0
ORACLE CORP COM STK USD0.01 COMMON STOCK 68389X105 2,369 65,600 SH   SOLE 0 65,600 0 0
OSHKOSH CORPORATION COMMON STOCK 688239201 2,226 61,270 SH   SOLE 0 61,270 0 0
PARAGON OFFSHORE PLC COMMON STOCK G6S01W108 12 48,000 SH   SOLE 0 48,000 0 0
PAYPAL HOLDINGS INC COMMON STOCK 70450Y103 1,538 49,545 SH   SOLE 0 49,545 0 0
PEPSICO INC CAP STK USD0.0166 COMMON STOCK 713445108 3,565 37,800 SH   SOLE 0 37,800 0 0
PFIZER INC COM STK USD0.05 COMMON STOCK 717081103 3,612 115,000 SH   SOLE 0 115,000 0 0
PHILIP MORRIS INTERNATIONAL INC NPV COMMON STOCK 718172109 397 5,000 SH   SOLE 0 5,000 0 0
PINNACLE WEST CAPITAL CORP COM STK USD2.50 COMMON STOCK 723484101 3,207 50,000 SH   SOLE 0 50,000 0 0
PIONEER NATURAL RESOURCE COMMON STOCK 723787907 2,478 20,370 SH   SOLE 0 20,370 0 0
PPL CORP COM STK USD0.01 COMMON STOCK 69351T106 2,302 70,000 SH   SOLE 0 70,000 0 0
PRUDENTIAL FINANCIAL INC COM STK USD0.01 COMMON STOCK 744320102 1,981 26,000 SH   SOLE 0 26,000 0 0
QUALCOMM INC COM STK USD0.0001 COMMON STOCK 747525103 2,885 53,700 SH   SOLE 0 53,700 0 0
QUEST DIAGNOSTICS INC COMMON STOCK 74834L100 922 15,000 SH   SOLE 0 15,000 0 0
ROYAL BANK OF CANADA COMMON STOCK CAD 0 COMMON STOCK 780087102 2,486 45,000 SH   SOLE 0 45,000 0 0
ROYAL DUTCH SHELL ADR EACH REPR 2'A'SHS COMMON STOCK 780259206 3,487 73,572 SH   SOLE 0 73,572 0 0
SANOFI ADR ECH REP 1/2 ORD EUR2 SPON COMMON STOCK 80105N105 2,136 45,000 SH   SOLE 0 45,000 0 0
SCHLUMBERGER COM STK USD0.01 COMMON STOCK 806857108 3,643 52,822 SH   SOLE 0 52,822 0 0
SIMON PROPERTY GROUP INC COMMON STOCK 828806109 4,170 22,700 SH   SOLE 0 22,700 0 0
STARWOOD HTLS WRLD PAIRED CERT CLASS'B'USD0.01 COMMON STOCK 85590A401 1,330 20,000 SH   SOLE 0 20,000 0 0
STRYKER CORP COM STK USD0.10 COMMON STOCK 863667101 1,186 12,600 SH   SOLE 0 12,600 0 0
TANGER FACTORY OUTLET CENTER COMMON STOCK 875465106 1,813 55,000 SH   SOLE 0 55,000 0 0
TAUBMAN CENTERS INC COMMON STOCK 876664103 4,015 58,125 SH   SOLE 0 58,125 0 0
TE CONNECTIVITY COMMON STOCK H84989104 1,727 28,840 SH   SOLE 0 28,840 0 0
TELEFONICA SA ADR EACH REPR 1 ORD EUR1 COMMON STOCK 879382208 619 51,427 SH   SOLE 0 51,427 0 0
TIME WARNER INC COMMON STOCK 887317303 1,115 16,220 SH   SOLE 0 16,220 0 0
TORONTO-DOMINION BANK COM STOCK CAD 0 COMMON STOCK 891160509 2,365 60,000 SH   SOLE 0 60,000 0 0
TOWN SPORTS INTL HLDGS INC COMMON STOCK 89214A102 72 27,308 SH   SOLE 0 27,308 0 0
TRANSOCEAN LTD CHF15 COMMON STOCK H8817H100 504 39,000 SH   SOLE 0 39,000 0 0
UNILEVER ADS-EACH REPR 1 ORD(JPM) COMMON STOCK 904767704 6,117 150,000 SH   SOLE 0 150,000 0 0
URBAN EDGE PROPERTIES REIT USD 0.01 COMMON STOCK 91704F104 2,267 105,000 SH   SOLE 0 105,000 0 0
VENTAS INC COMMON STOCK 92276F100 1,121 20,000 SH   SOLE 0 20,000 0 0
VERIZON COMMUNICATIONS INC COM STK USD0.10 COMMON STOCK 92343V104 6,091 140,000 SH   SOLE 0 140,000 0 0
WALGREEN BOOTS ALLIANCE INC COMMON STOCK 931427108 4,885 58,780 SH   SOLE 0 58,780 0 0
WELLS FARGO & CO COM STK USD1 2/3 COMMON STOCK 949746101 46,010 896,000 SH   SOLE 0 896,000 0 0
WELLTOWER INC COMMON STOCK 95040Q104 677 10,000 SH   SOLE 0 10,000 0 0
WILLIAMS SONOMA INC COMMON STOCK 969904101 1,079 14,130 SH   SOLE 0 14,130 0 0
WYNN RESORTS LTD COM STK USD0.01 COMMON STOCK 983134107 319 6,000 SH   SOLE 0 6,000 0 0