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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
EXXON MOBIL CORP COM 30231G102   44,991,000 450,000 SH   SOLE   0 0 450,000
APPLE INC COM 037833100   40,431,300 210,000 SH   SOLE   0 0 210,000
MICROSOFT CORP COM 594918104   33,711,986 89,650 SH   SOLE   10,850 0 78,800
AMERICAN ASSETS TR INC COM 024013104   33,209,813 1,475,336 SH   SOLE   0 0 1,475,336
JPMORGAN CHASE & CO COM 46625H100   30,209,760 177,600 SH   SOLE   0 0 177,600
WELLS FARGO CO NEW COM 949746101   27,317,100 555,000 SH   SOLE   0 0 555,000
CHEVRON CORP NEW COM 166764100   26,848,800 180,000 SH   SOLE   10,000 0 170,000
BANK AMERICA CORP COM 060505104   25,824,890 767,000 SH   SOLE   105,000 0 662,000
GOLDMAN SACHS GROUP INC COM 38141G104   20,831,580 54,000 SH   SOLE   0 0 54,000
PHILLIPS 66 COM 718546104   17,015,292 127,800 SH   SOLE   26,400 0 101,400
ESSEX PPTY TR INC COM 297178105   14,752,430 59,500 SH   SOLE   0 0 59,500
SHELL PLC SPON ADS 780259305   14,541,800 221,000 SH   SOLE   0 0 221,000
TRUIST FINL CORP COM 89832Q109   14,177,280 384,000 SH   SOLE   0 0 384,000
MERCK & CO INC COM 58933Y105   13,627,500 125,000 SH   SOLE   0 0 125,000
CATERPILLAR INC COM 149123101   13,305,150 45,000 SH   SOLE   0 0 45,000
CAPITAL ONE FINL CORP COM 14040h105   13,046,440 99,500 SH   SOLE   20,000 0 79,500
LENNAR CORP CL A 526057104   12,872,585 86,370 SH   SOLE   45,000 0 41,370
US BANCORP DEL COM NEW 902973304   11,685,600 270,000 SH   SOLE   0 0 270,000
ROYAL BK CDA COM 780087102   10,466,955 103,500 SH   SOLE   0 0 103,500
AMGEN INC COM 031162100   10,135,424 35,190 SH   SOLE   9,900 0 25,290
TOTALENERGIES SE SPONSORED ADS 89151E109   10,107,000 150,000 SH   SOLE   0 0 150,000
TORONTO DOMINION BK ONT COM NEW 891160509   10,016,100 155,000 SH   SOLE   0 0 155,000
BANK MONTREAL QUE COM 063671101   9,498,240 96,000 SH   SOLE   0 0 96,000
NOVARTIS AG SPONSORED ADR 66987v109   9,451,802 93,610 SH   SOLE   25,500 0 68,110
KROGER CO COM 501044101   9,423,117 206,150 SH   SOLE   98,200 0 107,950
ABBVIE INC COM 00287Y109   9,343,761 60,294 SH   SOLE   0 0 60,294
PNC FINL SVCS GROUP INC COM 693475105   9,291,000 60,000 SH   SOLE   0 0 60,000
INTERNATIONAL BUSINESS MACHS COM 459200101   8,995,250 55,000 SH   SOLE   0 0 55,000
FEDEX CORP COM 31428X106   8,853,950 35,000 SH   SOLE   0 0 35,000
COCA COLA CO COM 191216100   8,843,036 150,060 SH   SOLE   70,000 0 80,060
RIGETTI COMPUTING INC COMMON STOCK 76655K103   8,656,453 8,789,169 SH   SOLE   0 0 8,789,169
MORGAN STANLEY COM NEW 617446448   8,579,000 92,000 SH   SOLE   0 0 92,000
WALMART INC COM 931142103   8,513,100 54,000 SH   SOLE   13,500 0 40,500
PRUDENTIAL FINL INC COM 744320102   8,344,403 80,459 SH   SOLE   10,000 0 70,459
UNILEVER PLC SPON ADR NEW 904767704   8,241,600 170,000 SH   SOLE   0 0 170,000
CONOCOPHILLIPS COM 20825C104   8,124,900 70,000 SH   SOLE   0 0 70,000
DEERE & CO COM 244199105   7,997,400 20,000 SH   SOLE   0 0 20,000
JOHNSON & JOHNSON COM 478160104   7,837,000 50,000 SH   SOLE   0 0 50,000
MICROCHIP TECHNOLOGY INC. COM 595017104   7,214,400 80,000 SH   SOLE   80,000 0 0
EDISON INTL COM 281020107   7,149,000 100,000 SH   SOLE   0 0 100,000
NORTHROP GRUMMAN CORP COM 666807102   7,022,100 15,000 SH   SOLE   0 0 15,000
ELI LILLY & CO COM 532457108   6,995,040 12,000 SH   SOLE   0 0 12,000
SEMPRA COM 816851109   6,875,160 92,000 SH   SOLE   0 0 92,000
ALPHABET INC CAP STK CL A 02079k305   6,844,810 49,000 SH   SOLE   9,000 0 40,000
METLIFE INC COM 59156R108   6,831,494 103,304 SH   SOLE   0 0 103,304
PPG INDS INC COM 693506107   6,767,138 45,250 SH   SOLE   10,000 0 35,250
HSBC HLDGS PLC SPON ADR NEW 404280406   6,766,856 166,918 SH   SOLE   0 0 166,918
PEPSICO INC COM 713448108   6,759,632 39,800 SH   SOLE   0 0 39,800
GENERAL ELECTRIC CO COM NEW 369604301   6,700,575 52,500 SH   SOLE   0 0 52,500
STATE STR CORP COM 857477103   6,584,100 85,000 SH   SOLE   0 0 85,000
BRISTOL-MYERS SQUIBB CO COM 110122108   6,516,370 127,000 SH   SOLE   0 0 127,000
PFIZER INC COM 717081103   6,333,800 220,000 SH   SOLE   0 0 220,000
CVS HEALTH CORP COM 126650100   6,316,800 80,000 SH   SOLE   0 0 80,000
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100   6,240,000 60,000 SH   SOLE   0 0 60,000
EQUITY RESIDENTIAL SH BEN INT 29476L107   6,116,000 100,000 SH   SOLE   0 0 100,000
CITIGROUP INC COM NEW 172967424   5,987,616 116,400 SH   SOLE   0 0 116,400
BANK NEW YORK MELLON CORP COM 064058100   5,985,750 115,000 SH   SOLE   0 0 115,000
SCHWAB CHARLES CORP COM 808513105   5,963,171 86,674 SH   SOLE   0 0 86,674
PINNACLE WEST CAP CORP COM 723484101   5,962,720 83,000 SH   SOLE   0 0 83,000
MEDTRONIC PLC SHS g5960l103   5,901,044 71,632 SH   SOLE   23,780 0 47,852
CHUBB LIMITED COM h1467j104   5,650,000 25,000 SH   SOLE   25,000 0 0
TOYOTA MOTOR CORP ADS 892331307   5,501,400 30,000 SH   SOLE   0 0 30,000
VERIZON COMMUNICATIONS INC COM 92343V104   5,278,000 140,000 SH   SOLE   0 0 140,000
BIOGEN INC COM 09062X103   5,175,400 20,000 SH   SOLE   0 0 20,000
NORTHERN TR CORP COM 665859104   5,062,800 60,000 SH   SOLE   0 0 60,000
AMERICAN ELEC PWR CO INC COM 025537101   4,873,200 60,000 SH   SOLE   0 0 60,000
BANK NOVA SCOTIA HALIFAX COM 064149107   4,869,000 100,000 SH   SOLE   0 0 100,000
ADVANCED MICRO DEVICES INC COM 007903107   4,422,300 30,000 SH   SOLE   0 0 30,000
MONDELEZ INTL INC CL A 609207105   4,418,954 61,010 SH   SOLE   35,000 0 26,010
QUEST DIAGNOSTICS INC COM 74834L100   4,412,160 32,000 SH   SOLE   0 0 32,000
XCEL ENERGY INC COM 98389B100   4,333,700 70,000 SH   SOLE   0 0 70,000
AMERIPRISE FINL INC COM 03076c106   4,273,088 11,250 SH   SOLE   11,000 0 250
HILTON WORLDWIDE HLDGS INC COM 43300A203   4,248,524 23,332 SH   SOLE   0 0 23,332
WEC ENERGY GROUP INC COM 92939U106   4,208,500 50,000 SH   SOLE   0 0 50,000
DUPONT DE NEMOURS INC COM 26614n102   4,149,835 53,943 SH   SOLE   13,243 0 40,700
LABORATORY CORP AMER HLDGS COM NEW 50540R409   4,091,220 18,000 SH   SOLE   0 0 18,000
JEFFERIES FINL GROUP INC COM 47233W109   4,041,000 100,000 SH   SOLE   0 0 100,000
ALLY FINL INC COM 02005N100   4,015,800 115,000 SH   SOLE   0 0 115,000
UNITED RENTALS INC COM 911363109   4,013,940 7,000 SH   SOLE   0 0 7,000
SANOFI SPONSORED ADR 80105N105   3,978,400 80,000 SH   SOLE   0 0 80,000
CONSTELLATION ENERGY CORP COM 21037T109   3,896,294 33,333 SH   SOLE   0 0 33,333
DOW INC COM 260557103   3,786,373 69,044 SH   SOLE   13,243 0 55,801
UNION PAC CORP COM 907818108   3,684,300 15,000 SH   SOLE   0 0 15,000
PARAMOUNT GLOBAL CLASS B COM 92556H206   3,591,012 242,800 SH   SOLE   0 0 242,800
EXELON CORP COM 30161N101   3,590,000 100,000 SH   SOLE   0 0 100,000
AMERICAN INTL GROUP INC COM NEW 026874784   3,387,500 50,000 SH   SOLE   0 0 50,000
ABBOTT LABS COM 002824100   3,357,135 30,500 SH   SOLE   0 0 30,500
PERRIGO CO PLC SHS G97822103   3,218,000 100,000 SH   SOLE   0 0 100,000
DUKE ENERGY CORP NEW COM NEW 26441C204   3,169,909 32,666 SH   SOLE   0 0 32,666
WESTERN DIGITAL CORP. COM 958102105   3,142,200 60,000 SH   SOLE   0 0 60,000
ENERGY TRANSFER L P COM UT LTD PTN 29273V100   3,116,040 225,800 SH   SOLE   0 0 225,800
NEXTERA ENERGY INC COM 65339F101   3,037,000 50,000 SH   SOLE   0 0 50,000
THE CIGNA GROUP COM 125523100   3,006,478 10,040 SH   SOLE   0 0 10,040
WALGREENS BOOTS ALLIANCE INC COM 931427108   2,861,133 109,580 SH   SOLE   38,740 0 70,840
NRG ENERGY INC COM NEW 629377508   2,747,648 53,146 SH   SOLE   0 0 53,146
STRYKER CORPORATION COM 863667101   2,695,140 9,000 SH   SOLE   0 0 9,000
FIRSTENERGY CORP COM 337932107   2,566,200 70,000 SH   SOLE   0 0 70,000
ALCOA CORP COM 013872106   2,550,000 75,000 SH   SOLE   0 0 75,000
RTX CORPORATION COM 75513E101   2,524,200 30,000 SH   SOLE   0 0 30,000
PROCTER AND GAMBLE CO COM 742718109   2,491,180 17,000 SH   SOLE   0 0 17,000
VIATRIS INC COM 92556V106   2,436,750 225,000 SH   SOLE   0 0 225,000
HCA HEALTHCARE INC COM 40412C101   2,436,120 9,000 SH   SOLE   0 0 9,000
WEYERHAEUSER CO MTN BE COM NEW 962166104   2,433,900 70,000 SH   SOLE   0 0 70,000
CARDINAL HEALTH INC COM 14149Y108   2,346,322 23,277 SH   SOLE   0 0 23,277
ALBERTSONS COS INC COMMON STOCK 013091103   2,300,000 100,000 SH   SOLE   0 0 100,000
COTERRA ENERGY INC COM 127097103   2,245,760 88,000 SH   SOLE   48,000 0 40,000
BAXTER INTL INC COM 071813109   2,235,669 57,829 SH   SOLE   0 0 57,829
ARCHER DANIELS MIDLAND CO COM 039483102   2,226,543 30,830 SH   SOLE   30,000 0 830
KINDER MORGAN INC DEL COM 49456B101   2,205,000 125,000 SH   SOLE   0 0 125,000
UNITED THERAPEUTICS CORP DEL COM 91307C102   2,198,900 10,000 SH   SOLE   0 0 10,000
WYNN RESORTS LTD COM 983134107   2,167,051 23,785 SH   SOLE   0 0 23,785
SELECT SECTOR SPDR TR SBI INT-UTILS 81369y886   2,153,220 34,000 SH   SOLE   30,000 0 4,000
KENVUE INC COM 49177J102   2,153,000 100,000 SH   SOLE   0 0 100,000
CHESAPEAKE ENERGY CORP COM 165167735   1,923,500 25,000 SH   SOLE   0 0 25,000
PPL CORP COM 69351T106   1,897,000 70,000 SH   SOLE   0 0 70,000
PHILIP MORRIS INTL INC COM 718172109   1,881,600 20,000 SH   SOLE   0 0 20,000
GILEAD SCIENCES INC COM 375558103   1,863,230 23,000 SH   SOLE   0 0 23,000
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102   1,860,240 24,000 SH   SOLE   0 0 24,000
KRAFT HEINZ CO COM 500754106   1,849,000 50,000 SH   SOLE   0 0 50,000
MADISON SQUARE GRDN SPRT COR CL A 55825T103   1,818,300 10,000 SH   SOLE   0 0 10,000
ADOBE INC COM 00724f101   1,789,800 3,000 SH   SOLE   3,000 0 0
COMCAST CORP NEW CL A 20030N101   1,754,000 40,000 SH   SOLE   0 0 40,000
SOUTHERN CO COM 842587107   1,753,000 25,000 SH   SOLE   0 0 25,000
VITESSE ENERGY INC COMMON STOCK 92852X103   1,751,528 80,015 SH   SOLE   0 0 80,015
UNITED PARCEL SERVICE INC CL B 911312106   1,572,300 10,000 SH   SOLE   0 0 10,000
JOHNSON CTLS INTL PLC SHS g51502105   1,510,168 26,200 SH   SOLE   25,000 0 1,200
GSK PLC SPONSORED ADR 37733W204   1,482,400 40,000 SH   SOLE   0 0 40,000
ALCON AG ORD SHS h01301128   1,462,563 18,722 SH   SOLE   5,100 0 13,622
CANADIAN IMPERIAL BK COMM TO COM 136069101   1,444,200 30,000 SH   SOLE   0 0 30,000
GOODYEAR TIRE & RUBR CO COM 382550101   1,432,000 100,000 SH   SOLE   0 0 100,000
GE HEALTHCARE TECHNOLOGIES I COMMON STOCK 36266G107   1,353,100 17,500 SH   SOLE   0 0 17,500
BECTON DICKINSON & CO COM 075887109   1,341,065 5,500 SH   SOLE   0 0 5,500
ENTERPRISE PRODS PARTNERS L COM 293792107   1,317,500 50,000 SH   SOLE   0 0 50,000
BRIGHTHOUSE FINL INC COM 10922N103   1,058,400 20,000 SH   SOLE   0 0 20,000
HAWAIIAN ELEC INDUSTRIES COM 419870100   993,300 70,000 SH   SOLE   0 0 70,000
AMERICAN TOWER CORP NEW COM 03027X100   957,212 4,434 SH   SOLE   0 0 4,434
WELLTOWER INC COM 95040Q104   901,700 10,000 SH   SOLE   0 0 10,000
JAZZ PHARMACEUTICALS PLC SHS USD G50871105   861,000 7,000 SH   SOLE   0 0 7,000
DIGITAL RLTY TR INC COM 253868103   856,333 6,363 SH   SOLE   0 0 6,363
HALEON PLC SPON ADS 405552100   823,000 100,000 SH   SOLE   0 0 100,000
TAKEDA PHARMACEUTICAL CO LTD SPONSORED ADS 874060205   813,390 57,000 SH   SOLE   0 0 57,000
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702   802,485 2,250 SH   SOLE   0 0 2,250
WARNER BROS DISCOVERY INC COM SER A 934423104   682,800 60,000 SH   SOLE   60,000 0 0
FTAI AVIATION LTD SHS G3730V105   664,309 14,317 SH   SOLE   0 0 14,317
CORTEVA INC COM 22052l104   653,917 13,646 SH   SOLE   13,243 0 403
GENERAL MLS INC COM 370334104   651,400 10,000 SH   SOLE   0 0 10,000
DIGITALBRIDGE GROUP INC CL A NEW 25401T603   628,721 35,845 SH   SOLE   0 0 35,845
SNOWFLAKE INC CL A 833445109   597,000 3,000 SH   SOLE   3,000 0 0
NEW FORTRESS ENERGY INC COM CL A 644393100   595,681 15,788 SH   SOLE   0 0 15,788
HUDSON PAC PPTYS INC COM 444097109   582,126 62,527 SH   SOLE   0 0 62,527
FTAI INFRASTRUCTURE INC COMMON STOCK 35953C106   576,665 148,243 SH   SOLE   0 0 148,243
MGM RESORTS INTERNATIONAL COM 552953101   536,160 12,000 SH   SOLE   0 0 12,000
INNOVATIVE INDL PPTYS INC COM 45781V101   510,048 5,059 SH   SOLE   0 0 5,059
CAESARS ENTERTAINMENT INC NE COM 12769G100   498,991 10,644 SH   SOLE   0 0 10,644
EQUINIX INC COM 29444U700   466,321 579 SH   SOLE   0 0 579
CROWN CASTLE INC COM 22822V101   455,346 3,953 SH   SOLE   0 0 3,953
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   405,030 3,195 SH   SOLE   0 0 3,195
BLOCK INC CL A 852234103   386,750 5,000 SH   SOLE   5,000 0 0
AMERICOLD REALTY TRUST INC COM 03064D108   369,960 12,222 SH   SOLE   0 0 12,222
PROLOGIS INC. COM 74340W103   359,977 2,701 SH   SOLE   0 0 2,701
SBA COMMUNICATIONS CORP NEW CL A 78410G104   331,319 1,306 SH   SOLE   0 0 1,306
REXFORD INDL RLTY INC COM 76169C100   320,163 5,707 SH   SOLE   0 0 5,707
MACERICH CO COM 554382101   282,462 18,306 SH   SOLE   0 0 18,306
INVITATION HOMES INC COM 46187W107   278,917 8,177 SH   SOLE   0 0 8,177
EXTRA SPACE STORAGE INC COM 30225T102   258,131 1,610 SH   SOLE   0 0 1,610
SUN CMNTYS INC COM 866674104   232,952 1,743 SH   SOLE   0 0 1,743
CADIZ INC COM NEW 127537207   231,694 82,748 SH   SOLE   0 0 82,748
CUBESMART COM 229663109   222,480 4,800 SH   SOLE   0 0 4,800
BROOKFIELD RENEWABLE CORP CL A SUB VTG 11284V105   215,234 7,476 SH   SOLE   0 0 7,476
BROOKFIELD INFRASTRUCTURE CO COM SB VTG SHS A 11275Q107   213,373 6,048 SH   SOLE   0 0 6,048
VNET GROUP INC SPONSORED ADS A 90138A103   143,500 50,000 SH   SOLE   0 0 50,000