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 002824100 3,319 30,500 SH   SOLE   30,500 0 0
ABBVIE INC COM 00287Y109 3,792 43,294 SH   SOLE   43,294 0 0
ADOBE SYSTEMS INCORPORATED COM 00724f101 3,001 6,120 SH   SOLE   6,120 0 0
AGNC INVT CORP COM 00123Q104 696 50,000 SH   SOLE   50,000 0 0
ALCON AG ORD SHS H01301128 1,066 18,722 SH   SOLE   18,722 0 0
ALLY FINL INC COM 02005N100 2,507 100,000 SH   SOLE   100,000 0 0
ALPHABET INC CAP STK CL A 02079K305 2,931 2,000 SH   SOLE   2,000 0 0
AMERICAN ASSETS TR INC COM 024013104 35,059 1,455,336 SH   SOLE   1,455,336 0 0
AMERICAN ELEC PWR CO INC COM 025537101 4,904 60,000 SH   SOLE   60,000 0 0
AMERIPRISE FINL INC COM 03076c106 3,204 20,790 SH   SOLE   20,790 0 0
AMGEN INC COM 031162100 2,590 10,190 SH   SOLE   10,190 0 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 1,616 30,000 SH   SOLE   30,000 0 0
ANNALY CAPITAL MANAGEMENT IN COM 035710409 712 100,000 SH   SOLE   100,000 0 0
APPLE INC COM 037833100 24,320 210,000 SH   SOLE   210,000 0 0
ARCHER DANIELS MIDLAND CO COM 039483102 1,433 30,830 SH   SOLE   30,830 0 0
AT&T INC COM 00206R102 2,465 86,466 SH   SOLE   86,466 0 0
BANK MONTREAL QUE COM 063671101 5,607 96,000 SH   SOLE   96,000 0 0
BANK NEW YORK MELLON CORP COM 064058100 3,949 115,000 SH   SOLE   115,000 0 0
BANK NOVA SCOTIA B C COM 064149107 3,943 95,000 SH   SOLE   95,000 0 0
BAXTER INTL INC COM 071813109 4,651 57,829 SH   SOLE   57,829 0 0
BECTON DICKINSON & CO COM 075887109 1,280 5,500 SH   SOLE   5,500 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 479 2,250 SH   SOLE   2,250 0 0
BIOGEN INC COM 09062X103 2,837 10,000 SH   SOLE   10,000 0 0
BK OF AMERICA CORP COM 060505104 16,600 689,100 SH   SOLE   689,100 0 0
BOSTON PROPERTIES INC COM 101121101 1,606 20,000 SH   SOLE   20,000 0 0
BP PLC SPONSORED ADR 055622104 6,173 353,529 SH   SOLE   353,529 0 0
BRIGHTHOUSE FINL INC COM 10922N103 538 20,000 SH   SOLE   20,000 0 0
BRISTOL-MYERS SQUIBB CO COM 110122108 4,341 72,000 SH   SOLE   72,000 0 0
BRISTOL-MYERS SQUIBB CO RIGHT 99/99/9999 110122157 65 29,000 SH   SOLE   29,000 0 0
CAPITAL ONE FINL CORP COM 14040H105 7,450 103,670 SH   SOLE   103,670 0 0
CARDINAL HEALTH INC COM 14149Y108 1,093 23,277 SH   SOLE   23,277 0 0
CARNIVAL CORP UNIT 99/99/9999 143658300 607 40,000 SH   SOLE   40,000 0 0
CATERPILLAR INC DEL COM 149123101 6,712 45,000 SH   SOLE   45,000 0 0
CHEVRON CORP NEW COM 166764100 6,840 95,000 SH   SOLE   95,000 0 0
CHUBB LIMITED COM h1467j104 2,903 25,000 SH   SOLE   25,000 0 0
CIGNA CORP NEW COM 125523100 825 4,868 SH   SOLE   4,868 0 0
CITIGROUP INC COM NEW 172967424 3,294 76,400 SH   SOLE   76,400 0 0
COCA COLA CO COM 191216100 6,668 135,060 SH   SOLE   135,060 0 0
COMCAST CORP NEW CL A 20030N101 1,527 33,000 SH   SOLE   33,000 0 0
CORTEVA INC COM 22052l104 393 13,646 SH   SOLE   13,646 0 0
CVS HEALTH CORP COM 126650100 3,504 60,000 SH   SOLE   60,000 0 0
DOW INC COM 260557103 2,571 54,647 SH   SOLE   54,647 0 0
DUKE ENERGY CORP NEW COM NEW 26441C204 2,007 22,666 SH   SOLE   22,666 0 0
DUPONT DE NEMOURS INC COM 26614N102 2,449 44,146 SH   SOLE   44,146 0 0
EDISON INTL COM 281020107 2,542 50,000 SH   SOLE   50,000 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 2,874 56,000 SH   SOLE   56,000 0 0
ESSEX PPTY TR INC COM 297178105 5,020 25,000 SH   SOLE   25,000 0 0
EXXON MOBIL CORP COM 30231G102 687 20,000 SH   SOLE   20,000 0 0
FEDEX CORP COM 31428X106 5,030 20,000 SH   SOLE   20,000 0 0
GENERAL MLS INC COM 370334104 617 10,000 SH   SOLE   10,000 0 0
GILEAD SCIENCES INC COM 375558103 2,401 38,000 SH   SOLE   38,000 0 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 1,882 50,000 SH   SOLE   50,000 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 10,149 50,500 SH   SOLE   50,500 0 0
HCA HEALTHCARE INC COM 40412C101 1,122 9,000 SH   SOLE   9,000 0 0
HILTON WORLDWIDE HLDGS INC COM 43300A203 1,991 23,332 SH   SOLE   23,332 0 0
HOST HOTELS & RESORTS INC COM 44107P104 486 45,000 SH   SOLE   45,000 0 0
HSBC HLDGS PLC SPON ADR NEW 404280406 3,268 166,918 SH   SOLE   166,918 0 0
INTEL CORP COM 458140100 1,036 20,000 SH   SOLE   20,000 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 3,650 30,000 SH   SOLE   30,000 0 0
JOHNSON & JOHNSON COM 478160104 5,211 35,000 SH   SOLE   35,000 0 0
JOHNSON CTLS INTL PLC SHS g51502105 1,683 41,200 SH   SOLE   41,200 0 0
JPMORGAN CHASE & CO COM 46625H100 17,098 177,600 SH   SOLE   177,600 0 0
KRAFT HEINZ CO COM 500754106 1,498 50,000 SH   SOLE   50,000 0 0
KROGER CO COM 501044101 6,991 206,150 SH   SOLE   206,150 0 0
LABORATORY CORP AMER HLDGS COM NEW 50540R409 1,506 8,000 SH   SOLE   8,000 0 0
LAS VEGAS SANDS CORP COM 517834107 2,333 50,000 SH   SOLE   50,000 0 0
LENNAR CORP CL A 526057104 3,788 46,370 SH   SOLE   46,370 0 0
LILLY ELI & CO COM 532457108 1,036 7,000 SH   SOLE   7,000 0 0
MACQUARIE INFRASTRUCTURE COR COM 55608B105 1,076 40,000 SH   SOLE   40,000 0 0
MEDTRONIC PLC SHS G5960L103 6,924 66,632 SH   SOLE   66,632 0 0
MERCK & CO. INC COM 58933Y105 4,396 53,000 SH   SOLE   53,000 0 0
METLIFE INC COM 59156R108 3,282 88,304 SH   SOLE   88,304 0 0
MICROCHIP TECHNOLOGY INC. COM 595017104 1,650 16,060 SH   SOLE   16,060 0 0
MICROSOFT CORP COM 594918104 18,856 89,650 SH   SOLE   89,650 0 0
MONDELEZ INTL INC CL A 609207105 3,505 61,010 SH   SOLE   61,010 0 0
MORGAN STANLEY COM NEW 617446448 4,352 90,000 SH   SOLE   90,000 0 0
MYLAN NV SHS EURO N59465109 1,668 112,500 SH   SOLE   112,500 0 0
NOVARTIS AG SPONSORED ADR 66987V109 8,140 93,610 SH   SOLE   93,610 0 0
PEBBLEBROOK HOTEL TR COM 70509V100 752 60,000 SH   SOLE   60,000 0 0
PEPSICO INC COM 713448108 5,516 39,800 SH   SOLE   39,800 0 0
PERRIGO CO PLC SHS G97822103 1,330 28,965 SH   SOLE   28,965 0 0
PFIZER INC COM 717081103 3,523 96,000 SH   SOLE   96,000 0 0
PG&E CORP COM 69331C108 939 100,000 SH   SOLE   100,000 0 0
PHILIP MORRIS INTL INC COM 718172109 1,500 20,000 SH   SOLE   20,000 0 0
PHILLIPS 66 COM 718546104 793 15,300 SH   SOLE   15,300 0 0
PHYSICIANS RLTY TR COM 71943U104 896 50,000 SH   SOLE   50,000 0 0
PINNACLE WEST CAP CORP COM 723484101 4,100 55,000 SH   SOLE   55,000 0 0
PPG INDS INC COM 693506107 6,847 56,090 SH   SOLE   56,090 0 0
PPL CORP COM 69351T106 1,905 70,000 SH   SOLE   70,000 0 0
PROCTER AND GAMBLE CO COM 742718109 2,363 17,000 SH   SOLE   17,000 0 0
PRUDENTIAL FINL INC COM 744320102 4,793 75,459 SH   SOLE   75,459 0 0
QUEST DIAGNOSTICS INC COM 74834L100 1,374 12,000 SH   SOLE   12,000 0 0
ROYAL BK CDA COM 780087102 7,259 103,500 SH   SOLE   103,500 0 0
ROYAL DUTCH SHELL PLC SPONS ADR A 780259206 4,153 165,000 SH   SOLE   165,000 0 0
SANOFI SPONSORED ADR 80105N105 2,007 40,000 SH   SOLE   40,000 0 0
SCHLUMBERGER LTD COM 806857108 1,945 125,000 SH   SOLE   125,000 0 0
SCHWAB CHARLES CORP COM 808513105 2,174 60,000 SH   SOLE   60,000 0 0
SEMPRA ENERGY COM 816851109 2,367 20,000 SH   SOLE   20,000 0 0
SIMON PPTY GROUP INC NEW COM 828806109 1,468 22,700 SH   SOLE   22,700 0 0
SQUARE INC CL A 852234103 2,438 15,000 SH   SOLE   15,000 0 0
STATE STR CORP COM 857477103 5,043 85,000 SH   SOLE   85,000 0 0
STRYKER CORPORATION COM 863667101 1,875 9,000 SH   SOLE   9,000 0 0
TAKEDA PHARMACEUTICAL CO LTD SPONSORED ADS 874060205 1,017 57,000 SH   SOLE   57,000 0 0
TD AMERITRADE HLDG CORP COM 87236Y108 783 20,000 SH   SOLE   20,000 0 0
TORONTO DOMINION BK ONT COM NEW 891160509 6,011 130,000 SH   SOLE   130,000 0 0
TOYOTA MOTOR CORP SP ADR REP2COM 892331307 3,973 30,000 SH   SOLE   30,000 0 0
TRUIST FINL CORP COM 89832Q109 8,333 219,000 SH   SOLE   219,000 0 0
TWITTER INC COM 90184l102 2,003 45,000 SH   SOLE   45,000 0 0
UNILEVER PLC SPON ADR NEW 904767704 10,486 170,000 SH   SOLE   170,000 0 0
UNION PAC CORP COM 907818108 2,953 15,000 SH   SOLE   15,000 0 0
UNITED PARCEL SERVICE INC CL B 911312106 1,666 10,000 SH   SOLE   10,000 0 0
UNITED RENTALS INC COM 911363109 1,222 7,000 SH   SOLE   7,000 0 0
US BANCORP DEL COM NEW 902973304 6,812 190,000 SH   SOLE   190,000 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 8,329 140,000 SH   SOLE   140,000 0 0
VIACOMCBS INC CL B 92556H206 2,129 76,000 SH   SOLE   76,000 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108 2,751 76,580 SH   SOLE   76,580 0 0
WELLS FARGO CO NEW COM 949746101 23,628 1,005,000 SH   SOLE   1,005,000 0 0
WELLTOWER INC COM 95040Q104 551 10,000 SH   SOLE   10,000 0 0
WEYERHAEUSER CO MTN BE COM NEW 962166104 1,996 70,000 SH   SOLE   70,000 0 0
WYNN RESORTS LTD COM 983134107 1,436 20,000 SH   SOLE   20,000 0 0