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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

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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
ISHARES INC MSCI AUST ETF 464286103 22,523 1,170,000 SH   SOLE   1,170,000 0 0
ISHARES TR CORE HIGH DV ETF 46429B663 5,147 61,000 SH   SOLE   61,000 0 0
ISHARES TR SELECT DIVID ETF 464287168 3,037 34,000 SH   SOLE   34,000 0 0
VANGUARD WHITEHALL FDS INC HIGH DIV YLD 921946406 4,133 53,000 SH   SOLE   53,000 0 0
VANGUARD INDEX FDS REAL ESTATE ETF 922908553 15,809 212,000 SH   SOLE   212,000 0 0
ISHARES TR COHEN STEER REIT 464287564 15,314 160,000 SH   SOLE   160,000 0 0
SPDR SERIES TRUST DJ REIT ETF 78464A607 860 10,000 SH   SOLE   10,000 0 0
ISHARES TR U.S. REAL ES ETF 464287739 17,236 230,000 SH   SOLE   230,000 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 2,964 56,000 SH   SOLE   56,000 0 0