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
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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ALEXANDRIA REAL ESTATE EQ IN COM 015271109   3,726,723 37,230 SH   SOLE   37,230 0 0
AVALONBAY CMNTYS INC COM 053484101   7,639,854 44,485 SH   SOLE   44,485 0 0
BOSTON PROPERTIES INC COM 101121101   1,292,798 21,735 SH   SOLE   21,735 0 0
CALIFORNIA RES CORP COM STOCK 13057Q305   3,273,785 58,450 SH   SOLE   58,450 0 0
CRESCENT ENERGY COMPANY CL A COM 44952J104   1,973,938 156,166 SH   SOLE   156,166 0 0
INVESCO EXCH TRADED FD TR II SR LN ETF 46138G508   12,606,804 600,610 SH   SOLE   600,610 0 0
ISHARES INC MSCI BRAZIL ETF 464286400   2,493,471 81,300 SH   SOLE   81,300 0 0
ISHARES INC MSCI JPN ETF NEW 46434G822   1,211,829 20,100 SH   SOLE   20,100 0 0
ISHARES INC MSCI MEXICO ETF 464286822   2,436,926 41,850 SH   SOLE   41,850 0 0
ISHARES INC MSCI STH KOR ETF 464286772   1,187,936 20,155 SH   SOLE   20,155 0 0
ISHARES INC MSCI TAIWAN ETF 46434G772   1,222,229 27,435 SH   SOLE   27,435 0 0
ISHARES TR CORE HIGH DV ETF 46429B663   7,242,704 73,240 SH   SOLE   73,240 0 0
ISHARES TR CORE S&P500 ETF 464287200   7,725,016 17,989 SH   SOLE   17,989 0 0
ISHARES TR IBOXX HI YD ETF 464288513   18,808,184 255,130 SH   SOLE   255,130 0 0
ISHARES TR ISHARES BIOTECH 464287556   5,306,775 43,395 SH   SOLE   43,395 0 0
ISHARES TR MICRO-CAP ETF 464288869   3,542,039 35,385 SH   SOLE   35,385 0 0
ISHARES TR PFD AND INCM SEC 464288687   2,471,396 81,970 SH   SOLE   81,970 0 0
ISHARES TR S&P 500 VAL ETF 464287408   7,985,065 51,905 SH   SOLE   51,905 0 0
NEUBERGER BERMAN ENERGY INFR COM 64129H104   797,199 115,872 SH   SOLE   115,872 0 0
PROLOGIS INC. COM 74340W103   4,758,265 42,405 SH   SOLE   42,405 0 0
SPDR SER TR S&P BIOTECH 78464A870   2,285,526 31,300 SH   SOLE   31,300 0 0
SPDR SER TR S&P REGL BKG 78464A698   4,791,019 114,700 SH   SOLE   114,700 0 0
TALOS ENERGY INC COM 87484T108   2,297,983 139,780 SH   SOLE   139,780 0 0
VANGUARD BD INDEX FDS SHORT TRM BOND 921937827   12,391,399 164,845 SH   SOLE   164,845 0 0
VANGUARD INDEX FDS SMALL CP ETF 922908751   3,575,314 18,910 SH   SOLE   18,910 0 0
VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF 922042858   9,278,262 236,630 SH   SOLE   236,630 0 0
VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT 921943858   15,789,915 361,160 SH   SOLE   361,160 0 0