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   52,911,000 450,000 SH   SOLE   450,000 0 0
APPLE INC COM 037833100   35,954,100 210,000 SH   SOLE   210,000 0 0
CHEVRON CORP NEW COM 166764100   30,351,600 180,000 SH   SOLE   180,000 0 0
AMERICAN ASSETS TR INC COM 024013104   28,695,285 1,475,336 SH   SOLE   1,475,336 0 0
MICROSOFT CORP COM 594918104   28,306,988 89,650 SH   SOLE   89,650 0 0
JPMORGAN CHASE & CO COM 46625H100   25,755,552 177,600 SH   SOLE   177,600 0 0
WELLS FARGO CO NEW COM 949746101   22,677,300 555,000 SH   SOLE   555,000 0 0
BANK AMERICA CORP COM 060505104   21,000,460 767,000 SH   SOLE   767,000 0 0
GOLDMAN SACHS GROUP INC COM 38141G104   17,472,780 54,000 SH   SOLE   54,000 0 0
PHILLIPS 66 COM 718546104   15,355,170 127,800 SH   SOLE   127,800 0 0
SHELL PLC SPON ADS 780259305   14,227,980 221,000 SH   SOLE   221,000 0 0
MERCK & CO INC COM 58933Y105   12,868,750 125,000 SH   SOLE   125,000 0 0
ESSEX PPTY TR INC COM 297178105   12,619,355 59,500 SH   SOLE   59,500 0 0
CATERPILLAR INC COM 149123101   12,285,000 45,000 SH   SOLE   45,000 0 0
RIGETTI COMPUTING INC COMMON STOCK 76655K103   11,689,595 8,789,169 SH   SOLE   8,789,169 0 0
TRUIST FINL CORP COM 89832Q109   10,986,240 384,000 SH   SOLE   384,000 0 0
TOTALENERGIES SE SPONSORED ADS 89151E109   9,864,000 150,000 SH   SOLE   150,000 0 0
LENNAR CORP CL A 526057104   9,693,305 86,370 SH   SOLE   86,370 0 0
CAPITAL ONE FINL CORP COM 14040H105   9,656,475 99,500 SH   SOLE   99,500 0 0
NOVARTIS AG SPONSORED ADR 66987V109   9,535,115 93,610 SH   SOLE   93,610 0 0
AMGEN INC COM 031162100   9,457,664 35,190 SH   SOLE   35,190 0 0
TORONTO DOMINION BK ONT COM NEW 891160509   9,340,300 155,000 SH   SOLE   155,000 0 0
FEDEX CORP COM 31428X106   9,272,200 35,000 SH   SOLE   35,000 0 0
KROGER CO COM 501044101   9,225,213 206,150 SH   SOLE   206,150 0 0
ROYAL BK CDA COM 780087102   9,050,040 103,500 SH   SOLE   103,500 0 0
ABBVIE INC COM 00287Y109   8,987,424 60,294 SH   SOLE   60,294 0 0
US BANCORP DEL COM NEW 902973304   8,926,200 270,000 SH   SOLE   270,000 0 0
WALMART INC COM 931142103   8,636,220 54,000 SH   SOLE   54,000 0 0
COCA COLA CO COM 191216100   8,400,359 150,060 SH   SOLE   150,060 0 0
UNILEVER PLC SPON ADR NEW 904767704   8,398,000 170,000 SH   SOLE   170,000 0 0
CONOCOPHILLIPS COM 20825C104   8,386,000 70,000 SH   SOLE   70,000 0 0
BANK MONTREAL QUE COM 063671101   8,099,520 96,000 SH   SOLE   96,000 0 0
JOHNSON & JOHNSON COM 478160104   7,787,500 50,000 SH   SOLE   50,000 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101   7,716,500 55,000 SH   SOLE   55,000 0 0
PRUDENTIAL FINL INC COM 744320102   7,634,755 80,459 SH   SOLE   80,459 0 0
DEERE & CO COM 244199105   7,547,600 20,000 SH   SOLE   20,000 0 0
MORGAN STANLEY COM NEW 617446448   7,513,640 92,000 SH   SOLE   92,000 0 0
BRISTOL-MYERS SQUIBB CO COM 110122108   7,371,080 127,000 SH   SOLE   127,000 0 0
PNC FINL SVCS GROUP INC COM 693475105   7,366,200 60,000 SH   SOLE   60,000 0 0
PFIZER INC COM 717081103   7,297,400 220,000 SH   SOLE   220,000 0 0
PEPSICO INC COM 713448108   6,743,712 39,800 SH   SOLE   39,800 0 0
NORTHROP GRUMMAN CORP COM 666807102   6,602,850 15,000 SH   SOLE   15,000 0 0
HSBC HLDGS PLC SPON ADR NEW 404280406   6,586,584 166,918 SH   SOLE   166,918 0 0
METLIFE INC COM 59156R108   6,498,855 103,304 SH   SOLE   103,304 0 0
ELI LILLY & CO COM 532457108   6,445,560 12,000 SH   SOLE   12,000 0 0
ALPHABET INC CAP STK CL A 02079K305   6,412,140 49,000 SH   SOLE   49,000 0 0
EDISON INTL COM 281020107   6,329,000 100,000 SH   SOLE   100,000 0 0
SEMPRA COM 816851109   6,258,760 92,000 SH   SOLE   92,000 0 0
MICROCHIP TECHNOLOGY INC. COM 595017104   6,244,000 80,000 SH   SOLE   80,000 0 0
PINNACLE WEST CAP CORP COM 723484101   6,115,440 83,000 SH   SOLE   83,000 0 0
PPG INDS INC COM 693506107   5,873,450 45,250 SH   SOLE   45,250 0 0
EQUITY RESIDENTIAL SH BEN INT 29476L107   5,871,000 100,000 SH   SOLE   100,000 0 0
GENERAL ELECTRIC CO COM NEW 369604301   5,803,875 52,500 SH   SOLE   52,500 0 0
STATE STR CORP COM 857477103   5,691,600 85,000 SH   SOLE   85,000 0 0
MEDTRONIC PLC SHS G5960L103   5,613,084 71,632 SH   SOLE   71,632 0 0
CVS HEALTH CORP COM 126650100   5,585,600 80,000 SH   SOLE   80,000 0 0
TOYOTA MOTOR CORP ADS 892331307   5,392,500 30,000 SH   SOLE   30,000 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100   5,214,000 60,000 SH   SOLE   60,000 0 0
CHUBB LIMITED COM h1467j104   5,204,500 25,000 SH   SOLE   25,000 0 0
BIOGEN INC COM 09062X103   5,140,200 20,000 SH   SOLE   20,000 0 0
BANK NEW YORK MELLON CORP COM 064058100   4,904,750 115,000 SH   SOLE   115,000 0 0
CITIGROUP INC COM NEW 172967424   4,787,532 116,400 SH   SOLE   116,400 0 0
SCHWAB CHARLES CORP COM 808513105   4,758,403 86,674 SH   SOLE   86,674 0 0
BANK NOVA SCOTIA HALIFAX COM 064149107   4,559,000 100,000 SH   SOLE   100,000 0 0
VERIZON COMMUNICATIONS INC COM 92343V104   4,537,400 140,000 SH   SOLE   140,000 0 0
AMERICAN ELEC PWR CO INC COM 025537101   4,513,200 60,000 SH   SOLE   60,000 0 0
SANOFI SPONSORED ADR 80105N105   4,291,200 80,000 SH   SOLE   80,000 0 0
MONDELEZ INTL INC CL A 609207105   4,234,094 61,010 SH   SOLE   61,010 0 0
NORTHERN TR CORP COM 665859104   4,168,800 60,000 SH   SOLE   60,000 0 0
WEC ENERGY GROUP INC COM 92939U106   4,027,500 50,000 SH   SOLE   50,000 0 0
DUPONT DE NEMOURS INC COM 26614N102   4,023,608 53,943 SH   SOLE   53,943 0 0
XCEL ENERGY INC COM 98389B100   4,005,400 70,000 SH   SOLE   70,000 0 0
QUEST DIAGNOSTICS INC COM 74834L100   3,899,520 32,000 SH   SOLE   32,000 0 0
EXELON CORP COM 30161N101   3,779,000 100,000 SH   SOLE   100,000 0 0
AMERIPRISE FINL INC COM 03076c106   3,708,900 11,250 SH   SOLE   11,250 0 0
JEFFERIES FINL GROUP INC COM 47233W109   3,663,000 100,000 SH   SOLE   100,000 0 0
CONSTELLATION ENERGY CORP COM 21037T109   3,635,964 33,333 SH   SOLE   33,333 0 0
LABORATORY CORP AMER HLDGS COM NEW 50540R409   3,618,900 18,000 SH   SOLE   18,000 0 0
DOW INC COM 260557103   3,559,909 69,044 SH   SOLE   69,044 0 0
HILTON WORLDWIDE HLDGS INC COM 43300A203   3,504,000 23,332 SH   SOLE   23,332 0 0
PERRIGO CO PLC SHS G97822103   3,195,000 100,000 SH   SOLE   100,000 0 0
ENERGY TRANSFER L P COM UT LTD PTN 29273V100   3,167,974 225,800 SH   SOLE   225,800 0 0
PARAMOUNT GLOBAL CLASS B COM 92556H206   3,132,120 242,800 SH   SOLE   242,800 0 0
UNITED RENTALS INC COM 911363109   3,111,990 7,000 SH   SOLE   7,000 0 0
ADVANCED MICRO DEVICES INC COM 007903107   3,084,600 30,000 SH   SOLE   30,000 0 0
ALLY FINL INC COM 02005N100   3,068,200 115,000 SH   SOLE   115,000 0 0
UNION PAC CORP COM 907818108   3,054,450 15,000 SH   SOLE   15,000 0 0
AMERICAN INTL GROUP INC COM NEW 026874784   3,030,000 50,000 SH   SOLE   50,000 0 0
ABBOTT LABS COM 002824100   2,953,925 30,500 SH   SOLE   30,500 0 0
DUKE ENERGY CORP NEW COM NEW 26441C204   2,883,101 32,666 SH   SOLE   32,666 0 0
THE CIGNA GROUP COM 125523100   2,872,143 10,040 SH   SOLE   10,040 0 0
NEXTERA ENERGY INC COM 65339F101   2,864,500 50,000 SH   SOLE   50,000 0 0
WESTERN DIGITAL CORP. COM 958102105   2,737,800 60,000 SH   SOLE   60,000 0 0
PROCTER AND GAMBLE CO COM 742718109   2,479,620 17,000 SH   SOLE   17,000 0 0
STRYKER CORPORATION COM 863667101   2,459,430 9,000 SH   SOLE   9,000 0 0
WALGREENS BOOTS ALLIANCE INC COM 931427108   2,437,059 109,580 SH   SOLE   109,580 0 0
FIRSTENERGY CORP COM 337932107   2,392,600 70,000 SH   SOLE   70,000 0 0
COTERRA ENERGY INC COM 127097103   2,380,400 88,000 SH   SOLE   88,000 0 0
ARCHER DANIELS MIDLAND CO COM 039483102   2,325,199 30,830 SH   SOLE   30,830 0 0
WYNN RESORTS LTD COM 983134107   2,309,696 24,994 SH   SOLE   24,994 0 0
ALBERTSONS COS INC COMMON STOCK 013091103   2,275,000 100,000 SH   SOLE   100,000 0 0
UNITED THERAPEUTICS CORP DEL COM 91307C102   2,258,700 10,000 SH   SOLE   10,000 0 0
VIATRIS INC COM 92556V106   2,218,500 225,000 SH   SOLE   225,000 0 0
HCA HEALTHCARE INC COM 40412C101   2,213,820 9,000 SH   SOLE   9,000 0 0
BAXTER INTL INC COM 071813109   2,182,466 57,829 SH   SOLE   57,829 0 0
ALCOA CORP COM 013872106   2,179,500 75,000 SH   SOLE   75,000 0 0
RTX CORPORATION COM 75513E101   2,159,100 30,000 SH   SOLE   30,000 0 0
CHESAPEAKE ENERGY CORP COM 165167735   2,155,750 25,000 SH   SOLE   25,000 0 0
WEYERHAEUSER CO MTN BE COM NEW 962166104   2,146,200 70,000 SH   SOLE   70,000 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102   2,081,760 24,000 SH   SOLE   24,000 0 0
KINDER MORGAN INC DEL COM 49456B101   2,072,500 125,000 SH   SOLE   125,000 0 0
NRG ENERGY INC COM NEW 629377508   2,047,184 53,146 SH   SOLE   53,146 0 0
CARDINAL HEALTH INC COM 14149Y108   2,020,909 23,277 SH   SOLE   23,277 0 0
KENVUE INC COM 49177J102   2,008,000 100,000 SH   SOLE   100,000 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369y886   2,003,620 34,000 SH   SOLE   34,000 0 0
PHILIP MORRIS INTL INC COM 718172109   1,851,600 20,000 SH   SOLE   20,000 0 0
VITESSE ENERGY INC COMMON STOCK 92852X103   1,831,543 80,015 SH   SOLE   80,015 0 0
COMCAST CORP NEW CL A 20030N101   1,773,600 40,000 SH   SOLE   40,000 0 0
MADISON SQUARE GRDN SPRT COR CL A 55825T103   1,763,000 10,000 SH   SOLE   10,000 0 0
GILEAD SCIENCES INC COM 375558103   1,723,620 23,000 SH   SOLE   23,000 0 0
KRAFT HEINZ CO COM 500754106   1,682,000 50,000 SH   SOLE   50,000 0 0
PPL CORP COM 69351T106   1,649,200 70,000 SH   SOLE   70,000 0 0
SOUTHERN CO COM 842587107   1,618,000 25,000 SH   SOLE   25,000 0 0
UNITED PARCEL SERVICE INC CL B 911312106   1,558,700 10,000 SH   SOLE   10,000 0 0
ADOBE INC COM 00724f101   1,529,700 3,000 SH   SOLE   3,000 0 0
GSK PLC SPONSORED ADR 37733W204   1,450,000 40,000 SH   SOLE   40,000 0 0
ALCON AG ORD SHS H01301128   1,442,717 18,722 SH   SOLE   18,722 0 0
BECTON DICKINSON & CO COM 075887109   1,421,915 5,500 SH   SOLE   5,500 0 0
JOHNSON CTLS INTL PLC SHS g51502105   1,394,102 26,200 SH   SOLE   26,200 0 0
ENTERPRISE PRODS PARTNERS L COM 293792107   1,368,500 50,000 SH   SOLE   50,000 0 0
GOODYEAR TIRE & RUBR CO COM 382550101   1,243,000 100,000 SH   SOLE   100,000 0 0
GE HEALTHCARE TECHNOLOGIES I COMMON STOCK 36266G107   1,190,700 17,500 SH   SOLE   17,500 0 0
DIGITALBRIDGE GROUP INC CL A NEW 25401T603   1,169,088 66,501 SH   SOLE   66,501 0 0
CANADIAN IMPERIAL BK COMM TO COM 136069101   1,158,300 30,000 SH   SOLE   30,000 0 0
BRIGHTHOUSE FINL INC COM 10922N103   978,800 20,000 SH   SOLE   20,000 0 0
JAZZ PHARMACEUTICALS PLC SHS USD G50871105   906,080 7,000 SH   SOLE   7,000 0 0
DIGITAL RLTY TR INC COM 253868103   885,987 7,321 SH   SOLE   7,321 0 0
TAKEDA PHARMACEUTICAL CO LTD SPONSORED ADS 874060205   881,790 57,000 SH   SOLE   57,000 0 0
HAWAIIAN ELEC INDUSTRIES COM 419870100   861,700 70,000 SH   SOLE   70,000 0 0
HALEON PLC SPON ADS 405552100   833,000 100,000 SH   SOLE   100,000 0 0
WELLTOWER INC COM 95040Q104   819,200 10,000 SH   SOLE   10,000 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702   788,175 2,250 SH   SOLE   2,250 0 0
HUDSON PAC PPTYS INC COM 444097109   744,893 112,014 SH   SOLE   112,014 0 0
HOST HOTELS & RESORTS INC COM 44107P104   723,150 45,000 SH   SOLE   45,000 0 0
CORTEVA INC COM 22052l104   698,129 13,646 SH   SOLE   13,646 0 0
WARNER BROS DISCOVERY INC COM SER A 934423104   651,600 60,000 SH   SOLE   60,000 0 0
GENERAL MLS INC COM 370334104   639,900 10,000 SH   SOLE   10,000 0 0
AMERICAN TOWER CORP NEW COM 03027X100   615,865 3,745 SH   SOLE   3,745 0 0
PHYSICIANS RLTY TR COM 71943U104   609,500 50,000 SH   SOLE   50,000 0 0
FTAI AVIATION LTD SHS G3730V105   603,675 16,981 SH   SOLE   16,981 0 0
PEBBLEBROOK HOTEL TR COM 70509V100   475,650 35,000 SH   SOLE   35,000 0 0
SNOWFLAKE INC CL A 833445109   458,310 3,000 SH   SOLE   3,000 0 0
SBA COMMUNICATIONS CORP NEW CL A 78410G104   451,383 2,255 SH   SOLE   2,255 0 0
CAESARS ENTERTAINMENT INC NE COM 12769G100   445,331 9,608 SH   SOLE   9,608 0 0
EQUINIX INC COM 29444U700   420,505 579 SH   SOLE   579 0 0
REXFORD INDL RLTY INC COM 76169C100   416,366 8,437 SH   SOLE   8,437 0 0
MGM RESORTS INTERNATIONAL COM 552953101   416,123 11,320 SH   SOLE   11,320 0 0
PROLOGIS INC. COM 74340W103   407,154 3,629 SH   SOLE   3,629 0 0
FTAI INFRASTRUCTURE INC COMMON STOCK 35953C106   392,933 122,029 SH   SOLE   122,029 0 0
AMERICOLD REALTY TRUST INC COM 03064D108   371,671 12,222 SH   SOLE   12,222 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   363,263 3,629 SH   SOLE   3,629 0 0
INNOVATIVE INDL PPTYS INC COM 45781V101   336,309 4,445 SH   SOLE   4,445 0 0
LAS VEGAS SANDS CORP COM 517834107   325,464 7,100 SH   SOLE   7,100 0 0
SUN CMNTYS INC COM 866674104   312,536 2,641 SH   SOLE   2,641 0 0
INVITATION HOMES INC COM 46187W107   279,664 8,825 SH   SOLE   8,825 0 0
AMERICAN HOMES 4 RENT CL A 02665T306   277,067 8,224 SH   SOLE   8,224 0 0
CADIZ INC COM NEW 127537207   256,823 77,590 SH   SOLE   77,590 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108   226,935 3,562 SH   SOLE   3,562 0 0
BLOCK INC CL A 852234103   221,300 5,000 SH   SOLE   5,000 0 0
VNET GROUP INC SPONSORED ADS A 90138A103   156,500 50,000 SH   SOLE   50,000 0 0