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 1,799 40,500 SH   SOLE 0 40,500 0 0
ABBVIE INC COM 00287Y109 2,997 46,000 SH   SOLE 0 46,000 0 0
ADOBE SYS INC COM 00724F101 2,677 20,570 SH   SOLE 0 20,570 0 0
AGNC INVT CORP COM 00123Q104 995 50,000 SH   SOLE 0 50,000 0 0
ALEXANDRIA REAL ESTATE COM 015271109 1,326 12,000 SH   SOLE 0 12,000 0 0
ALLERGAN PLC COM G0177J108 1,195 5,000 SH   SOLE 0 5,000 0 0
ALPS ETF TR ALERIAN MLP 00162Q866 4,321 340,000 SH   SOLE 0 340,000 0 0
AMERICAN ASSETS TRUST INC COM 024013104 34,500 824,572 SH   SOLE 0 824,572 0 0
AMERICAN CAMPUS COMMUNITIES COM 024835100 571 12,000 SH   SOLE 0 12,000 0 0
AMERICAN ELEC PWR INC COM 025537101 3,357 50,000 SH   SOLE 0 50,000 0 0
AMERICAN INTL GROUP INC COM 026874784 1,249 20,000 SH   SOLE 0 20,000 0 0
AMERIPRISE FINL INC COM 03076C106 3,195 24,640 SH   SOLE 0 24,640 0 0
AMGEN COM 031162100 4,151 25,300 SH   SOLE 0 25,300 0 0
ANNALY CAP MGMT INC COM 035710409 1,111 100,000 SH   SOLE 0 100,000 0 0
APPLE INC COM 037833100 7,542 52,500 SH   SOLE 0 52,500 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 946 20,540 SH   SOLE 0 20,540 0 0
AT&T INC COM 00206R102 1,662 40,000 SH   SOLE 0 40,000 0 0
AVALONBAY CMNTYS INC COM 053484101 955 5,200 SH   SOLE 0 5,200 0 0
AXALTA COATING SYS LTD COM G0750C108 322 10,000 SH   SOLE 0 10,000 0 0
BAKER HUGHES INC COM 057224107 5,426 90,700 SH   SOLE 0 90,700 0 0
BANCO BILBAO VIZCAYA ARGENTA ADR 05946K101 1,563 205,400 SH   SOLE 0 205,400 0 0
BANCO SANTANDER SA ADR 05964H105 1,442 237,530 SH   SOLE 0 237,530 0 0
BANK AMER CORP COM 060505104 2,123 90,000 SH   SOLE 0 90,000 0 0
BANK MONTREAL QUE COM 063671101 1,870 25,000 SH   SOLE 0 25,000 0 0
BANK NS HALIFAX COM 064149107 2,343 40,000 SH   SOLE 0 40,000 0 0
BANK NEW YORK MELLON CORP COM 064058100 675 14,300 SH   SOLE 0 14,300 0 0
BAXTER INTL INC COM 071813109 3,709 71,515 SH   SOLE 0 71,515 0 0
BECTON DICKINSON & CO USD1 COM 075887109 917 5,000 SH   SOLE 0 5,000 0 0
BIOGEN INC COM 09062X103 1,094 4,000 SH   SOLE 0 4,000 0 0
BP PLC SPONSORED ADR 055622104 7,984 231,298 SH   SOLE 0 231,298 0 0
BRISTOL-MYERS SQUIBB CO COM 110122108 1,631 30,000 SH   SOLE 0 30,000 0 0
BUCKEYE PARTNERS LP COM 118230101 754 11,000 SH   SOLE 0 11,000 0 0
CAPITAL ONE FINL CORP COM 14040H105 3,120 36,000 SH   SOLE 0 36,000 0 0
CARDINAL HEALTH INC COM 14149Y108 1,654 20,277 SH   SOLE 0 20,277 0 0
CARNIVAL CORP PAIRED CTF 143658300 2,062 35,000 SH   SOLE 0 35,000 0 0
CHEVRON CORP NEW COM 166764100 6,783 63,170 SH   SOLE 0 63,170 0 0
CHICAGO BRIDGE & IRON CO NV COM 167250109 1,230 40,000 SH   SOLE 0 40,000 0 0
CITIGROUP INC COM 172967424 2,512 42,000 SH   SOLE 0 42,000 0 0
COCA-COLA CO COM 191216100 5,393 127,080 SH   SOLE 0 127,080 0 0
CONNS INC COM 208242107 350 40,000 SH   SOLE 0 40,000 0 0
CORESITE REALTY CORP COM 21870Q105 2,702 30,000 SH   SOLE 0 30,000 0 0
CORNING INC COM 219350105 540 20,000 SH   SOLE 0 20,000 0 0
CREDIT SUISSE GROUP SPONSORED ADR 225401108 623 42,000 SH   SOLE 0 42,000 0 0
CVS HEALTH CORP COM 126650100 1,832 23,340 SH   SOLE 0 23,340 0 0
CYRUSONE INC COM 23283R100 3,500 68,000 SH   SOLE 0 68,000 0 0
DEERE & CO COM 244199105 1,252 11,500 SH   SOLE 0 11,500 0 0
DELL TECNOLOGIES COM CL V 24703L103 571 8,917 SH   SOLE 0 8,917 0 0
DENBURY RES INC COM NEW 247916208 45 17,600 SH   SOLE 0 17,600 0 0
DEUTSCHE BANK AG NAMEN AKT D18190898 1,716 100,000 SH   SOLE 0 100,000 0 0
DIGITAL RLTY TRUST INC COM 253868103 442 4,150 SH   SOLE 0 4,150 0 0
DOW CHEMICAL CO COM 260543103 6,749 106,210 SH   SOLE 0 106,210 0 0
DUKE ENERGY CORP NEW COM 26441C204 1,367 16,666 SH   SOLE 0 16,666 0 0
ENBRIDGE ENERGY PARTNERS LP COM 29250R106 418 22,000 SH   SOLE 0 22,000 0 0
ENCANA CORP COM 292505104 351 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 273 2,800 SH   SOLE 0 2,800 0 0
EQT CORP COM 26884L109 2,180 35,680 SH   SOLE 0 35,680 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 1,369 22,000 SH   SOLE 0 22,000 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 1,318 20,000 SH   SOLE 0 20,000 0 0
EXTRA SPACE STORAGE INC COM 30225T102 3,720 50,000 SH   SOLE 0 50,000 0 0
EXXON MOBIL CORP COM 30231G102 4,101 50,000 SH   SOLE 0 50,000 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 2,670 20,000 SH   SOLE 0 20,000 0 0
FORD MTR CO DEL COM 345370860 2,951 253,530 SH   SOLE 0 253,530 0 0
GAMESTOP CORP NEW COM 36467W109 2,967 131,560 SH   SOLE 0 131,560 0 0
GENERAL ELECTRIC CO COM 369604103 11,920 400,000 SH   SOLE 0 400,000 0 0
GENERAL MOTORS CO COM 37045V100 6,488 183,490 SH   SOLE 0 183,490 0 0
GGP INC COM 36174X101 1,970 85,000 SH   SOLE 0 85,000 0 0
GILEAD SCIENCES INC COM 375558103 4,604 67,790 SH   SOLE 0 67,790 0 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 1,265 30,000 SH   SOLE 0 30,000 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 7,411 32,260 SH   SOLE 0 32,260 0 0
HALLIBURTON CO COM 406216101 2,451 49,800 SH   SOLE 0 49,800 0 0
HARTFORD FINL SVCS GROUP INC COM 416515104 1,929 40,119 SH   SOLE 0 40,119 0 0
HCA HOLDINGS COM 40412C101 1,157 13,000 SH   SOLE 0 13,000 0 0
HEWLETT PACKARD ENTERPRISE C COM 42824C109 3,010 127,000 SH   SOLE 0 127,000 0 0
HILTON GRAND VACATIONS COM 43283X105 201 7,000 SH   SOLE 0 7,000 0 0
HILTON WORLDWIDE HLDGS INC COM 43300A203 1,364 23,332 SH   SOLE 0 23,332 0 0
HOST HOTELS & RESORTS INC COM 44107P104 840 45,000 SH   SOLE 0 45,000 0 0
HP INC COM 40434L105 2,271 127,000 SH   SOLE 0 127,000 0 0
HSBC HOLDINGS PLC SPON ADR NEW 404280406 3,145 77,053 SH   SOLE 0 77,053 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 1,393 8,000 SH   SOLE 0 8,000 0 0
ISHARES MSCI MEX CAP ETF 464286822 5,117 100,000 SH   SOLE 0 100,000 0 0
ISHARES TR MSCI UK ETF NEW 46435G334 21,971 675,000 SH   SOLE 0 675,000 0 0
JOHNSON & JOHNSON COM 478160104 5,605 45,000 SH   SOLE 0 45,000 0 0
JPMORGAN CHASE & CO COM 46625H100 15,757 179,385 SH   SOLE 0 179,385 0 0
KINDER MORGAN INC DEL COM 49456B101 3,044 140,000 SH   SOLE 0 140,000 0 0
KROGER CO COM 501044101 2,153 73,000 SH   SOLE 0 73,000 0 0
LABORATORY CORP AMER HLDGS COM 50540R409 1,148 8,000 SH   SOLE 0 8,000 0 0
LAS VEGAS SANDS CORP COM 517834107 1,141 20,000 SH   SOLE 0 20,000 0 0
LENNAR CORP COM 526057104 2,444 47,745 SH   SOLE 0 47,745 0 0
LILLY ELI & CO COM 532457108 841 10,000 SH   SOLE 0 10,000 0 0
MACERICH CO COM 554382101 1,288 20,000 SH   SOLE 0 20,000 0 0
MEDTRONIC PLC SHS G5960L103 6,517 80,902 SH   SOLE 0 80,902 0 0
MERCK & CO INC COM 58933Y105 4,073 64,100 SH   SOLE 0 64,100 0 0
METLIFE INC COM 59156R108 3,397 64,304 SH   SOLE 0 64,304 0 0
MICROSOFT CORP COM 594918104 9,320 141,505 SH   SOLE 0 141,505 0 0
MONDELEZ INTL INC CL A 609207105 2,614 60,680 SH   SOLE 0 60,680 0 0
MORGAN STANLEY COM 617446448 1,714 40,000 SH   SOLE 0 40,000 0 0
MOSAIC CO NEW COM 61945C103 1,021 35,000 SH   SOLE 0 35,000 0 0
NORDSTROM INC COM 655664100 1,304 28,000 SH   SOLE 0 28,000 0 0
NOVARTIS AG SPONSORED ADR 66987V109 7,275 97,950 SH   SOLE 0 97,950 0 0
OASIS PETE INC NEW NOTE 2.625% 9/1 674215AJ7 471 350,000 SH   SOLE 0 350,000 0 0
ORACLE CORP COM 68389X105 2,926 65,600 SH   SOLE 0 65,600 0 0
OSHKOSH CORP COM 688239201 1,029 15,000 SH   SOLE 0 15,000 0 0
PARK HOTELS RESORTS INC COM 700517105 397 15,467 SH   SOLE 0 15,467 0 0
PAYPAL HLDGS INC COM 70450Y103 4,329 100,625 SH   SOLE 0 100,625 0 0
PEBBLEBROOK HOTEL TR COM 70509V100 730 25,000 SH   SOLE 0 25,000 0 0
PEPSICO INC COM 713448108 4,228 37,800 SH   SOLE 0 37,800 0 0
PFIZER INC COM 717081103 1,950 57,000 SH   SOLE 0 57,000 0 0
PHILIP MORRIS INTL INC COM 718172109 565 5,000 SH   SOLE 0 5,000 0 0
PHILLIPS 66 COM 718546104 1,122 14,160 SH   SOLE 0 14,160 0 0
PINNACLE WEST CAP CORP COM 723484101 4,169 50,000 SH   SOLE 0 50,000 0 0
PIONEER NAT RES CO COM 723787107 4,138 22,220 SH   SOLE 0 22,220 0 0
PPG INDS INC COM 693506107 4,259 40,530 SH   SOLE 0 40,530 0 0
PPL CORP COM 69351T106 2,617 70,000 SH   SOLE 0 70,000 0 0
PRUDENTIAL FINL INC COM 744320102 3,889 36,459 SH   SOLE 0 36,459 0 0
QUALCOMM INC COM 747525103 2,007 35,000 SH   SOLE 0 35,000 0 0
QUEST DIAGNOSTICS INC COM 74834L100 1,473 15,000 SH   SOLE 0 15,000 0 0
ROYAL BANK OF CDA MONTREAL QUE COM 780087102 3,281 45,000 SH   SOLE 0 45,000 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 4,347 82,441 SH   SOLE 0 82,441 0 0
SANOFI SPONSORED ADR 80105N105 2,036 45,000 SH   SOLE 0 45,000 0 0
SCHLUMBERGER LTD COM 806857108 4,906 62,822 SH   SOLE 0 62,822 0 0
SHIRE PLC SPONSORED ADR 82481R106 1,742 10,000 SH   SOLE 0 10,000 0 0
SIMON PPTY GROUP INC NEW COM 828806109 3,905 22,700 SH   SOLE 0 22,700 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 1,179 5,000 SH   SOLE 0 5,000 0 0
STRYKER CORP COM 863667101 1,659 12,600 SH   SOLE 0 12,600 0 0
SUNTRUST BKS INC COM 867914103 830 15,000 SH   SOLE 0 15,000 0 0
SYNCHRONY FINL COM 87165B103 686 20,000 SH   SOLE 0 20,000 0 0
TANGER FACTORY OUTLET CTRS I COM 875465106 1,802 55,000 SH   SOLE 0 55,000 0 0
TAUBMAN CTRS INC COM 876664103 3,837 58,125 SH   SOLE 0 58,125 0 0
TELEFONICA SA SPONSORED ADR 879382208 616 55,056 SH   SOLE 0 55,056 0 0
TIME WARNER INC COM 887317303 2,227 22,795 SH   SOLE 0 22,795 0 0
TORONTO DOMINION BK ONT COM 891160509 3,506 70,000 SH   SOLE 0 70,000 0 0
TOWN SPORTS INTL HLDGS INC COM 89214A102 143 40,409 SH   SOLE 0 40,409 0 0
TOYOTA MOTOR CORP SP ADR REP2COM 892331307 2,172 20,000 SH   SOLE 0 20,000 0 0
UNILEVER N V NY SHS NEW 904784709 510 10,270 SH   SOLE 0 10,270 0 0
UNILEVER PLC SPON ADR NEW 904767704 8,388 170,000 SH   SOLE 0 170,000 0 0
UNION PAC CORP COM 907818108 1,589 15,000 SH   SOLE 0 15,000 0 0
URBAN EDGE PPTYS COM 91704F104 2,762 105,000 SH   SOLE 0 105,000 0 0
VENTAS INC COM 92276F100 1,301 20,000 SH   SOLE 0 20,000 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 6,825 140,000 SH   SOLE 0 140,000 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 7,244 87,230 SH   SOLE 0 87,230 0 0
WELLS FARGO & CO NEW COM 949746101 50,651 910,000 SH   SOLE 0 910,000 0 0
WELLTOWER INC COM 95040Q104 708 10,000 SH   SOLE 0 10,000 0 0
WESTPAC BKG CORP NOTE 4.322%11/2 961214DF7 328 325,000 SH   SOLE 0 325,000 0 0
WEYERHAEUSER CO COM 962166104 1,699 50,000 SH   SOLE 0 50,000 0 0
WHITING PETE CORP NEW COM 966387102 982 103,769 SH   SOLE 0 103,769 0 0
WHITING PETE CORP NEW NOTE 1.250% 4/0 966387AL6 131 150,000 SH   SOLE 0 150,000 0 0
WHOLE FOOD MKT INC COM 966837106 1,144 38,500 SH   SOLE 0 38,500 0 0
WILLIAMS SONOMA INC COM 969904101 4,196 78,250 SH   SOLE 0 78,250 0 0
WYNN RESORTS LTD COM 983134107 344 3,000 SH   SOLE 0 3,000 0 0