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 LABS COM NPV COM 002824100 1,969 40,500 SH   SOLE 0 40,500 0 0
ABBVIE INC COM 00287Y109 3,335 46,000 SH   SOLE 0 46,000 0 0
ACADIA HEALTHCARE COMPANY IN COM 00404A109 3,739 75,720 SH   SOLE 0 75,720 0 0
ADOBE SYS INC COM 00724F101 2,330 16,470 SH   SOLE 0 16,470 0 0
AGNC INVT CORP COM 00123Q104 1,065 50,000 SH   SOLE 0 50,000 0 0
ALEXANDRIA REAL ESTATE COM 015271109 1,446 12,000 SH   SOLE 0 12,000 0 0
ALLERGAN PLC COM G0177J108 1,215 5,000 SH   SOLE 0 5,000 0 0
ALPS ETF TR ALERIAN MLP 00162Q866 4,066 340,000 SH   SOLE 0 340,000 0 0
AMERICAN ASSETS TRUST INC COM 024013104 32,480 824,572 SH   SOLE 0 824,572 0 0
AMERICAN CAMPUS COMMUNITIES COM 024835100 568 12,000 SH   SOLE 0 12,000 0 0
AMERICAN ELEC PWR INC COM 025537101 3,474 50,000 SH   SOLE 0 50,000 0 0
AMERICAN INTL GROUP INC COM 026874784 1,250 20,000 SH   SOLE 0 20,000 0 0
AMERIPRISE FINL INC COM 03076C106 3,264 25,640 SH   SOLE 0 25,640 0 0
AMGEN COM 031162100 4,357 25,300 SH   SOLE 0 25,300 0 0
ANNALY CAP MGMT INC COM 035710409 1,205 100,000 SH   SOLE 0 100,000 0 0
ANSYS INC COM 03662Q105 1,095 9,000 SH   SOLE 0 9,000 0 0
APPLE INC COM 037833100 7,561 52,500 SH   SOLE 0 52,500 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 1,276 30,830 SH   SOLE 0 30,830 0 0
AT&T INC COM 00206R102 1,509 40,000 SH   SOLE 0 40,000 0 0
AVALONBAY CMNTYS INC COM 053484101 999 5,200 SH   SOLE 0 5,200 0 0
AXALTA COATING SYS LTD COM G0750C108 320 10,000 SH   SOLE 0 10,000 0 0
BAKER HUGHES INC COM 057224107 4,808 88,200 SH   SOLE 0 88,200 0 0
BANCO BILBAO VIZCAYA ARGENTA ADR 05946K101 2,083 249,202 SH   SOLE 0 249,202 0 0
BANCO SANTANDER SA ADR 05964H105 1,589 237,530 SH   SOLE 0 237,530 0 0
BANK AMER CORP COM 060505104 5,135 211,670 SH   SOLE 0 211,670 0 0
BANK MONTREAL QUE COM 063671101 1,836 25,000 SH   SOLE 0 25,000 0 0
BANK NS HALIFAX COM 064149107 2,405 40,000 SH   SOLE 0 40,000 0 0
BANK NEW YORK MELLON CORP COM 064058100 730 14,300 SH   SOLE 0 14,300 0 0
BAXTER INTL INC COM 071813109 4,330 71,515 SH   SOLE 0 71,515 0 0
BECTON DICKINSON & CO USD1 COM 075887109 976 5,000 SH   SOLE 0 5,000 0 0
BIOGEN INC COM 09062X103 1,085 4,000 SH   SOLE 0 4,000 0 0
BP PLC SPONSORED ADR 055622104 8,294 239,359 SH   SOLE 0 239,359 0 0
BRISTOL-MYERS SQUIBB CO COM 110122108 1,672 30,000 SH   SOLE 0 30,000 0 0
BUCKEYE PARTNERS LP COM 118230101 703 11,000 SH   SOLE 0 11,000 0 0
CAPITAL ONE FINL CORP COM 14040H105 2,974 36,000 SH   SOLE 0 36,000 0 0
CARDINAL HEALTH INC COM 14149Y108 1,580 20,277 SH   SOLE 0 20,277 0 0
CARNIVAL CORP UNIT 99/99/9999 143658300 2,295 35,000 SH   SOLE 0 35,000 0 0
CHEVRON CORP NEW COM 166764100 6,591 63,170 SH   SOLE 0 63,170 0 0
CHICAGO BRIDGE & IRON CO NV COM 167250109 789 40,000 SH   SOLE 0 40,000 0 0
CITIGROUP INC COM 172967424 2,809 42,000 SH   SOLE 0 42,000 0 0
COCA-COLA CO COM 191216100 5,739 127,950 SH   SOLE 0 127,950 0 0
CONNS INC COM 208242107 703 36,789 SH   SOLE 0 36,789 0 0
CORESITE REALTY CORP COM 21870Q105 3,106 30,000 SH   SOLE 0 30,000 0 0
CORNING INC COM 219350105 601 20,000 SH   SOLE 0 20,000 0 0
CREDIT SUISSE GROUP SPONSORED ADR 225401108 646 44,232 SH   SOLE 0 44,232 0 0
CVS HEALTH CORP COM 126650100 1,207 15,000 SH   SOLE 0 15,000 0 0
CYRUSONE INC COM 23283R100 3,791 68,000 SH   SOLE 0 68,000 0 0
DELL TECHNOLOGIES COM CL V 24703L103 545 8,918 SH   SOLE 0 8,918 0 0
DENBURY RES INC COM NEW 247916208 27 17,600 SH   SOLE 0 17,600 0 0
DEUTSCHE BANK AG NAMEN AKT D18190898 2,669 150,000 SH   SOLE 0 150,000 0 0
DIGITAL RLTY TRUST INC COM 253868103 469 4,150 SH   SOLE 0 4,150 0 0
DOW CHEMICAL CO COM 260543103 6,699 106,210 SH   SOLE 0 106,210 0 0
DUKE ENERGY CORP NEW COM 26441C204 1,393 16,666 SH   SOLE 0 16,666 0 0
DXC TECHNOLOGY CO COM 23355L106 837 10,909 SH   SOLE 0 10,909 0 0
ENBRIDGE ENERGY PARTNERS LP COM 29250R106 352 22,000 SH   SOLE 0 22,000 0 0
ENCANA CORP COM 292505104 264 30,000 SH   SOLE 0 30,000 0 0
ENDO INTL PLC SHS G30401106 223 20,000 SH   SOLE 0 20,000 0 0
EOG RES INC COM 26875P101 253 2,800 SH   SOLE 0 2,800 0 0
EQT CORP COM 26884L109 2,090 35,680 SH   SOLE 0 35,680 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 1,448 22,000 SH   SOLE 0 22,000 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 1,277 20,000 SH   SOLE 0 20,000 0 0
EXTRA SPACE STORAGE INC COM 30225T102 3,900 50,000 SH   SOLE 0 50,000 0 0
EXXON MOBIL CORP COM 30231G102 4,037 50,000 SH   SOLE 0 50,000 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 2,528 20,000 SH   SOLE 0 20,000 0 0
FORD MTR CO DEL COM 345370860 2,238 200,000 SH   SOLE 0 200,000 0 0
GAMESTOP CORP NEW COM 36467W109 2,843 131,560 SH   SOLE 0 131,560 0 0
GENERAL ELECTRIC CO COM 369604103 12,155 450,000 SH   SOLE 0 450,000 0 0
GENERAL MOTORS CO COM 37045V100 5,355 153,300 SH   SOLE 0 153,300 0 0
GGP INC COM 36174X101 2,356 100,000 SH   SOLE 0 100,000 0 0
GILEAD SCIENCES INC COM 375558103 3,949 55,790 SH   SOLE 0 55,790 0 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 1,294 30,000 SH   SOLE 0 30,000 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 6,670 30,060 SH   SOLE 0 30,060 0 0
HALLIBURTON CO COM 406216101 2,151 50,360 SH   SOLE 0 50,360 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 2,109 40,119 SH   SOLE 0 40,119 0 0
HCA HEALTHCARE INC COM 40412C101 1,134 13,000 SH   SOLE 0 13,000 0 0
HEWLETT PACKARD ENTERPRISE C COM 42824C109 2,107 127,000 SH   SOLE 0 127,000 0 0
HILTON GRAND VACATIONS COM 43283X105 252 7,000 SH   SOLE 0 7,000 0 0
HILTON WORLDWIDE HLDGS INC COM 43300A203 1,443 23,332 SH   SOLE 0 23,332 0 0
HOST HOTELS & RESORTS INC COM 44107P104 822 45,000 SH   SOLE 0 45,000 0 0
HP INC COM 40434L105 2,220 127,000 SH   SOLE 0 127,000 0 0
HSBC HOLDINGS PLC SPON ADR NEW 404280406 3,668 79,059 SH   SOLE 0 79,059 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 1,231 8,000 SH   SOLE 0 8,000 0 0
ISHARES MSCI MEX CAP ETF 464286822 539 10,000 SH   SOLE 0 10,000 0 0
ISHARES TR MSCI UK ETF NEW 46435G334 9,999 300,000 SH   SOLE 0 300,000 0 0
JOHNSON & JOHNSON COM 478160104 5,953 45,000 SH   SOLE 0 45,000 0 0
JPMORGAN CHASE & CO COM 46625H100 15,457 169,115 SH   SOLE 0 169,115 0 0
KINDER MORGAN INC DEL COM 49456B101 2,682 140,000 SH   SOLE 0 140,000 0 0
KROGER CO COM 501044101 2,752 118,000 SH   SOLE 0 118,000 0 0
LABORATORY CORP AMER HLDGS COM 50540R409 1,233 8,000 SH   SOLE 0 8,000 0 0
LAS VEGAS SANDS CORP COM 517834107 1,278 20,000 SH   SOLE 0 20,000 0 0
LENNAR CORP COM 526057104 2,546 47,745 SH   SOLE 0 47,745 0 0
LILLY ELI & CO COM 532457108 823 10,000 SH   SOLE 0 10,000 0 0
M & T BK CORP COM 55261F104 1,356 8,375 SH   SOLE 0 8,375 0 0
MACERICH CO COM 554382101 1,742 30,000 SH   SOLE 0 30,000 0 0
MEDTRONIC PLC SHS G5960L103 7,180 80,902 SH   SOLE 0 80,902 0 0
MERCK & CO INC COM 58933Y105 4,108 64,100 SH   SOLE 0 64,100 0 0
METLIFE INC COM 59156R108 3,533 64,304 SH   SOLE 0 64,304 0 0
MICROSOFT CORP COM 594918104 9,257 134,295 SH   SOLE 0 134,295 0 0
MONDELEZ INTL INC CL A 609207105 2,635 61,010 SH   SOLE 0 61,010 0 0
MORGAN STANLEY COM 617446448 1,782 40,000 SH   SOLE 0 40,000 0 0
MOSAIC CO NEW COM 61945C103 799 35,000 SH   SOLE 0 35,000 0 0
NOBLE ENERGY INC COM 655044105 566 20,000 SH   SOLE 0 20,000 0 0
NORDSTROM INC COM 655664100 2,535 53,000 SH   SOLE 0 53,000 0 0
NOVARTIS AG SPONSORED ADR 66987V109 8,176 97,950 SH   SOLE 0 97,950 0 0
OASIS PETE INC NEW NOTE 2.625% 9/1 674215AJ7 343 350,000 SH   SOLE 0 350,000 0 0
ORACLE CORP COM 68389X105 3,289 65,600 SH   SOLE 0 65,600 0 0
OSHKOSH CORP COM 688239201 1,033 15,000 SH   SOLE 0 15,000 0 0
PARK HOTELS RESORTS INC COM 700517105 417 15,467 SH   SOLE 0 15,467 0 0
PAYPAL HLDGS INC COM 70450Y103 4,595 85,625 SH   SOLE 0 85,625 0 0
PEBBLEBROOK HOTEL TR COM 70509V100 806 25,000 SH   SOLE 0 25,000 0 0
PEPSICO INC COM 713448108 4,366 37,800 SH   SOLE 0 37,800 0 0
PFIZER INC COM 717081103 1,915 57,000 SH   SOLE 0 57,000 0 0
PHILIP MORRIS INTL INC COM 718172109 587 5,000 SH   SOLE 0 5,000 0 0
PHILLIPS 66 COM 718546104 1,182 14,300 SH   SOLE 0 14,300 0 0
PINNACLE WEST CAP CORP COM 723484101 4,258 50,000 SH   SOLE 0 50,000 0 0
PIONEER NAT RES CO COM 723787107 3,306 20,720 SH   SOLE 0 20,720 0 0
PPG INDS INC COM 693506107 4,457 40,530 SH   SOLE 0 40,530 0 0
PPL CORP COM 69351T106 2,706 70,000 SH   SOLE 0 70,000 0 0
PRUDENTIAL FINL INC COM 744320102 3,943 36,459 SH   SOLE 0 36,459 0 0
PUBLIC STORAGE COM 74460D109 2,085 10,000 SH   SOLE 0 10,000 0 0
QUALCOMM INC COM 747525103 1,933 35,000 SH   SOLE 0 35,000 0 0
QUEST DIAGNOSTICS INC COM 74834L100 1,667 15,000 SH   SOLE 0 15,000 0 0
ROYAL BANK OF CDA MONTREAL QUE COM 780087102 3,263 45,000 SH   SOLE 0 45,000 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 4,460 83,848 SH   SOLE 0 83,848 0 0
SANOFI SPONSORED ADR 80105N105 2,156 45,000 SH   SOLE 0 45,000 0 0
SCHLUMBERGER LTD COM 806857108 4,136 62,822 SH   SOLE 0 62,822 0 0
SHIRE PLC SPONSORED ADR 82481R106 1,653 10,000 SH   SOLE 0 10,000 0 0
SIMON PPTY GROUP INC NEW COM 828806109 3,672 22,700 SH   SOLE 0 22,700 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 242 1,000 SH   SOLE 0 1,000 0 0
STRYKER CORP COM 863667101 1,749 12,600 SH   SOLE 0 12,600 0 0
SUNTRUST BKS INC COM 867914103 851 15,000 SH   SOLE 0 15,000 0 0
SYNCHRONY FINL COM 87165B103 1,091 36,600 SH   SOLE 0 36,600 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 1,949 75,000 SH   SOLE 0 75,000 0 0
TAUBMAN CTRS INC COM 876664103 3,461 58,125 SH   SOLE 0 58,125 0 0
TELEFONICA SA SPONSORED ADR 879382208 572 55,056 SH   SOLE 0 55,056 0 0
TIME WARNER INC COM 887317303 2,289 22,795 SH   SOLE 0 22,795 0 0
TORONTO DOMINION BK ONT NOTE 3.625% 9/1 891160MJ9 248 250,000 SH   SOLE 0 250,000 0 0
TORONTO DOMINION BK ONT COM 891160509 3,527 70,000 SH   SOLE 0 70,000 0 0
TOWN SPORTS INTL HLDGS INC COM 89214A102 190 40,409 SH   SOLE 0 40,409 0 0
TOYOTA MOTOR CORP SP ADR REP2COM 892331307 2,100 20,000 SH   SOLE 0 20,000 0 0
UNILEVER N V NY SHS NEW 904784709 568 10,270 SH   SOLE 0 10,270 0 0
UNILEVER PLC SPON ADR NEW 904767704 9,200 170,000 SH   SOLE 0 170,000 0 0
UNION PAC CORP COM 907818108 1,634 15,000 SH   SOLE 0 15,000 0 0
URBAN EDGE PPTYS COM 91704F104 2,492 105,000 SH   SOLE 0 105,000 0 0
VENTAS INC COM 92276F100 1,390 20,000 SH   SOLE 0 20,000 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 6,252 140,000 SH   SOLE 0 140,000 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 6,831 87,230 SH   SOLE 0 87,230 0 0
WELLS FARGO & CO NEW COM 949746101 50,423 910,000 SH   SOLE 0 910,000 0 0
WELLTOWER INC COM 95040Q104 749 10,000 SH   SOLE 0 10,000 0 0
WEYERHAEUSER CO COM 962166104 1,675 50,000 SH   SOLE 0 50,000 0 0
WHITING PETE CORP NEW NOTE 1.250% 4/0 966387AL6 127 150,000 SH   SOLE 0 150,000 0 0
WHITING PETE CORP NEW COM 966387102 572 103,769 SH   SOLE 0 103,769 0 0
WILLIAMS SONOMA INC COM 969904101 3,795 78,250 SH   SOLE 0 78,250 0 0
WYNN RESORTS LTD COM 983134107 402 3,000 SH   SOLE 0 3,000 0 0